Fortescue moves to ditch diesel on Pilbara rail

Liontown goes fully underground as lithium prices rally Liontown (ASX: LTR) has completed mining at the Kathleen’s Corner open pit, positioning Kathleen Valley as a fully underground mining operation.The annualised underground run-rate of 1mtpa was achieved on schedule, with Liontown now targeting 1.5mtpa by the end of Q3 FY26 and 2.8mtpa steady-state by the end of FY27.Liontown managing director and chief executive Tony Ottaviano comments on the company’s Q2 performance.“The December quarter represented a major operational and financial inflection point for Liontown, with open pit mining completed on schedule and the operation now 100% underground,” he said.“Underground ore production increased by 37% during the quarter, supported by strong development progress and improving operational leverage, resulting in cashflow-neutral operations.“Our US$900/dmt realised price for the quarter, on an SC6 equivalent basis, reflects the timing of offtake pricing, which was largely set prior to the strong rally in spodumene prices late in the quarter.“Pricing strength has continued into 2026, with market conditions now the most favourable experienced since the commencement of production.“With underground production continuing to scale, costs trending lower and higher pricing expected to flow through in coming quarters, Liontown is well positioned to deliver a strong financial performance in the second half of FY26.”Q2 unit operating costs and AISC decreased by 17% and 22% respectively from Q1. Liontown says it remains on track to meet FY26 guidance.Spodumene prices rallied late in the quarter and have remained firm into 2026, improving sentiment across the lithium sector. Now, LG Energy Solution has elected to convert its entire US$250m convertible note holding into an estimated 239 million fully paid ordinary shares in Liontown.“LG Energy Solution's decision to convert their entire holding to equity is a strong endorsement of Kathleen Valley's tier-one quality and our operational execution,” Mr Ottaviano said.“This conversion delivers immediate benefits to shareholders. It simplifies our capital structure, eliminates future interest obligations on the notes, and strengthens our balance sheet — giving us real financial firepower as we scale production, while remaining focused on shareholder returns and disciplined capital allocation.“Importantly, it deepens an already important strategic partnership with LG Energy Solution. LG Energy Solution was instrumental in supporting our transition to producer, and their decision to become a significant equity holder further aligns our interests.“We now have one of the world's leading battery manufacturers as both a cornerstone shareholder and a long-term offtake customer — a powerful combination as we execute on Liontown’s full potential.”Upon completion, LG Energy Solution will hold about 8% of Liontown’s issued share capital, with the shares to be issued within five business days.

An employee of a contracting company has died following an incident at Rio Tinto’s (ASX: RIO) Kennecott copper mine in Utah.All surface and underground mining operations at the mine have been suspended.Rio Tinto chief executive Simon Trott comments on the fatal incident.“We are devastated by the loss of our colleague, and our heartfelt sympathies are with their family, friends, teammates, and everyone in the Kennecott community,” he said.“We are working closely with the relevant authorities and contractor partners to support a complete and thorough investigation.“The safety of our people comes before everything else. We are fully focused on understanding what led to this tragedy. I will be travelling to Kennecott to support our team on site.”Rio Tinto says it is providing support, including counselling, to its team members. 

Federal Resources Minister Madeleine King has convened two roundtable discussions with the country’s resources sector to discuss the Federal Government’s productivity agenda. A common theme across both roundtables was the need for government to invest in common user infrastructure and reforms to the approvals process, according to Minister King. Minister King says Australia’s resources sector has worked hard over decades to carve out a leading role as a globally significant producer of the minerals and metals that the world needs. “The resources sector has for decades invested in innovation and productivity enhancement, which has helped to cement Australia’s position as a global resources powerhouse,” she said. “The resources sector is among the most productive sectors of the national economy and…

Liontown Resources (ASX: LTR) reports first underground development ore mined and first spodumene concentrate delivered to port at its Kathleen Valley lithium project in WA. Since the commencement of underground operations at Mt Mann in November 2023, more than 4,000 development metres have been advanced. The 145t of spodumene concentrate delivered to the Port of Geraldton in WA, will be stockpiled at Qube’s dedicated storage shed ahead of first shipment planned for later this quarter. Liontown managing director and chief executive Tony Ottaviano says this rapid progression underscores the momentum Liontown is building as it transitions from construction to production. “Just a week after achieving first production, the first truckload of spodumene concentrate has been successfully dispatched to Geraldton Port,”…