Middle East conflict weighs on Alcoa shipments

Rio Tinto (ASX: RIO) paid $14.3b globally in taxes and royalties during 2025 according to its most recent Taxes and Royalties Paid Report. Of the total taxes and royalties paid, $9.5b was paid in Australia — including corporate tax paid of $5.8b — and significant payments were also made in Chile, the US, in Mongolia and Canada. Higher tariffs on primary aluminium exports from Canada to the US, including the removal of the 10% tariff exemption from March 2025, resulted in about $1.45b  in additional tax payments in the US.  Higher profits at Escondida resulted in higher corporate tax payments in Chile and increased copper production and prices at Oyu Tolgoi resulted in higher royalty payments in Mongolia. Rio Tinto chief financial officer Peter Cunningham says the taxes and royalties Rio pays to governments are an important contributor to the economic health and development of the regions where it operates. “We seek to operate responsibly everywhere we work,” he said.  “Our payments to governments can be significant for national budgets and to support development priorities, while our voluntary social investment also allows communities to invest in their own social and economic development for years to come. “We continue to be a leader in transparent tax reporting, voluntarily publishing detailed information on our taxes and royalty payment to governments for over 15 years." Rio also spent a record $19.7b with more than 6,000 Australian suppliers in 2025 — a $2b increase on the previous year. $12.1b of that was spent with WA suppliers as Rio advances development of its replacement mines in the Pilbara. A record $1.1b was spent with Indigenous businesses, including A$820m with Traditional Owner businesses. Rio Tinto iron ore chief executive Matthew Holcz says Rio’s suppliers are fundamental to its operations.  “We are proud to acknowledge the vital role these Australian businesses play in creating jobs, strengthening local economies and supporting our business,” he said. "Stronger local supply chains build stronger communities, and in turn, a stronger nation.”

Core Lithium (ASX: CXO) will begin open pit mining and ore production at its Grants deposit in May as it advances the restart of its Finniss lithium operation in the Northern Territory.The restart has been supported by the award of a $50m surface mining services contract to NRW (ASX: NWH), alongside the start of the BP33 box cut and civil infrastructure site works.Core Lithium managing director Paul Brown says the award of the Grants open pit mining contract marks a key step in the restart of the Finniss lithium operation.“Grants provides a low risk, near term source of ore using existing infrastructure, enabling a rapid and capital efficient pathway back into production,” he said.“With mobilisation commencing immediately, this contract underpins our restart schedule and near term cash generation objectives.“With final investment decision approval and funding now in place, our focus is firmly on delivery. This contract positions Finniss to deliver the first spodumene concentrate in the December quarter.“We are making strong progress across the balance of our restart workstreams, and we expect to finalise additional key contracts in the near-term as we bring Finniss back into production.”The November 2025 updated mine plan increased ore reserves for Grants by 33% to 1.53mt at 1.42% lithium oxide, lifting contained lithium oxide by 44%.The Grants open pit is expected to supply near term ore feed for the Finniss processing plant, enabling an accelerated production timeline at a lower initial capital cost, according to Core.Core expects the BP33 underground development to support the operation’s transition to long-life, high-margin underground operations.

Regis reassesses ‘unviable’ $1b gold mine Regis Resources (ASX: RRL) is proposing a new development approach for its McPhillamys mine in NSW, which was derailed in 2024 by an Indigenous heritage ruling.The ruling made in August 2024 — more than a year after the project was approved — denied the construction of a tailings dam near the Belubula River in an attempt to protect culturally significant land.The company took the decision to the Federal Court and the matter was heard by the court in December 2025.Regis has argued that the view held by the Federal Department of Climate Change, Energy, the Environment and Water (DCCEEW) changed after additional evidence was produced by an independent Aboriginal elder more than a year after approval was granted — believing that further investigation into the Dreaming story used as evidence should have taken place before the ruling was handed out.If Regis’ application is successful, the company will seek a declaration from a Federal Court judge that the 2024 ruling handed down by then Federal Environment Minister Tanya Plibersek is legally invalid and that the application be redetermined by a different minister.Following Regis’ challenge to the Federal Court, Minister Plibersek remained adamant in her ruling.“The truth is we are living in a country where we’ve got thousands of years of continuous culture and heritage. We’ve done a pretty bad job of protecting it in the past,” Minister Plibersek said.“Protecting cultural heritage and development are not mutually exclusive. We can have both.“Crucially, my decision is not to stop the mine. The company has indicated to me that it has assessed around four sites and 30 potential options for the tailings dam.”Following the ruling, contrary to Minister Plibersek’s declaration, Regis deemed the project as non-viable, stating it would take up to 10 years to identify and gain approval for an alternative tailings site, before taking out a non-cash impairment of $192m.With the Federal Court’s ruling pending, Regis continues to progress a dual-track strategy to return McPhillamys to an approvable status.In parallel with the ongoing court process, Regis has advanced work assessing the suitability of an integrated waste landform incorporating a form of co-disposal within the planned waste dump.Initial study outcomes indicate that the concept is technically feasible and further detailed engineering, environmental and commercial assessments are underway to progress facility design, approvals pathway and potential development timeframes.

Liontown Limited (ASX: LTR) has signed an offtake agreement for 150,000wmtpa of spodumene concentrate with world-leading lithium manufacturer Canmax Technologies.The agreement assures the supply of spodumene concentrate over 2027 and 2028 from Liontown’s Kathleen Valley project in WA.