Rio Tinto commissions new conveyor at Canadian smelter

The NSW Government has approved a six-year extension to the Dartbrook coal mine in the Hunter Valley, allowing operations to continue until December 2033.The mine’s current license allows for extraction of up to 6mtpa of coal and is valid until the end of 2027.The site has a history of financial challenges. The Dartbrook coal mine was placed into care and maintenance in late 2025, less than a year after new owners relaunched operations, after entering voluntary administration and receivership in July. This decision came after operators defaulted on a $202m loan.Later that month, as its financial standing deteriorated mass redundancies occurred across the site that saw a workforce reduction of about two-thirds.According to an economic analysis conducted by the NSW Government, the extension, known as MOD8, has a projected net benefit to the economy of $471m, including $73m in gross wages, 240 direct jobs and 613 indirect jobs.If the maximum extraction rates were realised, the total revenue would extend to $1.28b, according to the NSW Government.Muswellbrook Shire Council has been supportive of the extension but has conveyed concerns if any further extensions were to be considered.In a letter to the NSW Department of Planning, Housing and Infrastructure, Muswellbrook Shire Council environmental planning director Sharon Pope said the original mine approvals were given in 2001 and were supported by an environmental impact statement (EIS) dated 2000.“Staff remain concerned that the original EIS no longer reflects current standards,” she said.“The age of the baseline data raises doubts about its reliability. Given these uncertainties, staff recommend no further time extensions after MOD8 unless comprehensive, up-to-date assessments are completed.”Underground mining has been approved at Dartbrook since 1991, however mining only occurred between 1996 to 2006.The previous operator, Anglo American, mothballed the site in 2006 following a series of safety challenges and operational concerns and three worker fatalities. The site had been idle for 19 years prior to the initial restart in 2024.

Fortescue bets $152m on Peruvian copper takeover Fortescue (ASX: FMG) has entered a binding agreement to acquire the remaining 64% of Canada- based Alta Copper for an implied value of $151m (C$139m).  Through the acquisition, Fortescue will gain full control of the Cañariaco copper project in Peru — considered a high potential long-life copper asset — which contains an estimated 1.1bt of measured and indicated resource at .42% copper equivalent as well as an additional .9bt of inferred resource at .29%. Fortescue already owns about 36% of Alta and, under the agreement, will pay Alta Copper shareholders about $1.53 (C$1.40) per share to acquire the remaining stake — a 50% premium on the company’s current 30-day volume weighted average price. Peru is a major copper-producing country, with companies including Anglo American and Glencore already extracting copper in the region. Fortescue has been operating in Latin America since 2018 and is positioned to leverage its well established technical, permitting and community engagement expertise to advance the project.  Fortescue’s recent diversification efforts have focused almost solely on clean energy products, including green hydrogen. The company is currently developing a 168,000tpa green hydrogen plant in Brazil at the industrial and port complex of Pecém, Ceará. The Cañariaco copper project aligns with Fortescue’s critical minerals diversification strategy and will form the cornerstone of the company’s copper portfolio.  Alta Copper’s board of directors, alongside officers holding 12.5% of shares, have unanimously recommended that Alta Copper shareholders approve the transaction. A vote is schedule for January 26 2026 and Fortescue will need about 66% of shareholder support for the acquisition to go ahead. The transaction is targeted to close in the Q1 CY2026. 

Harmony Gold has approved a final investment decision for its Eva copper project in North West Queensland, with the project anticipated to add $17b to the state’s economy.

Sunrise Energy Metals (ASX: SRL) has successfully raised major capital with its latest share placement to fund pre-construction activities at the Syerston scandium project in NSW.