Author: Chloe Coutinho

The combined company’s board of directors will be comprised of four directors from each of the current Regis and Vault boards.
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Regis and Vault to form $10.7b gold producer
Regis Resources (ASX: RRL) will combine with Vault Minerals (ASX: VAU) in a merger-of-equals, with Regis acquiring 100% of the fully paid ordinary shares in Vault.The combined company will be led by Russell Clark as non-executive chairman and Jim Beyer as managing director and chief executive. It is expected to produce more than 700kozpa of gold with a combined mineral resource base of 20.5moz.Regis Resources managing director and chief executive Jim Beyer says the merger creates Australia’s third largest primary ASX-listed gold producer.“With a strong balance sheet, approximately $1.9b in cash and bullion, and a compelling organic growth pipeline, including the McPhillamys development project and Sugar Zone, the combined company is exceptionally well-positioned to deliver long-term value and enhanced capital returns for our shareholders,” he said.Vault managing director and chief executive Luke Tonkin comments on the merger.“ allows to retain meaningful ownership and governance influence while gaining exposure to a larger, more resilient gold company with enhanced scale, diversification and balance sheet strength,” he said.“Vault’s portfolio, anchored by the King of the Hills operation currently undergoing a significant mill expansion, brings long-life high-quality assets and a strong financial position to the merger.“By combining these strengths with Regis’ proven operational and exploration capability, the merged company is better positioned to deliver sustained production, enhanced reserve replacement and long-term value creation across gold price cycles. Importantly, this combination is being executed from a position of strength.”The merger is subject to approval by Vault shareholders, court and other regulatory approvals.The merger has been unanimously endorsed by the Vault and Regis boards.
Palantir says it’s just a software company. Its manifesto suggests something much worse.
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Off the Record: What does the ‘kill chain’ have to do with your groceries?
In 2010, Peter Thiel made a statement that would not reveal its full horror until much later.Speaking on PayPal's vision, Thiel argued that Silicon Valley could never win an election on "getting certain things" because he and his peers were in such a small, presumably ideological, minority.Instead, he argued that through technology, they could “unilaterally change the world”, all without the pesky inconvenience of having to constantly convince, beg or plead with people who were never going to agree with them.He saw technology not as a public tool, but as an alternative to politics. A way around democracy.But what were these “certain things” that Thiel wanted? Well one of his vehicles for bypassing politics, Palantir, has basically outlined them for us. And the implications are grim.Palantir, co-founded in part by Thiel and Alex Karp in 2003, recently published its “manifesto”: a 22-point summary of Karp’s book The Technological Republic. It covers a lot of ground, including the idea that Silicon Valley has an obligation to participate in national defence, that AI weapons are inevitable and that the US should consider moving away from an all-volunteer military force.The manifesto hinges on a tragic and fragmented worldview. It is a world that is divided into us versus them, the civilised versus the uncivilised, the West versus the rest, hard versus soft power. To accept its logic, one must believe that coexistence is impossible, freedom is a detriment and peace is a liability.Palantir suggests that governments are too cumbersome and ill-equipped to fix any of the world’s issues. The manifesto says that free and democratic societies cannot prevail through moral appeal alone. They require hard power, which in this century, will be built on software.Palantir’s software.The company first got its start building software for the US intelligence community, assisting with counterterrorism investigations and operations. Palantir was the shiny new Silicon Valley alternative to traditional defence contractors like Lockheed Martin, Boeing and Northrop Grumman.Palantir is now deeply embedded in the US government, with the Department of War, ICE and local police departments all on its books.Its defence-facing work has never been subtle. There are plenty of videos online of Alex Karp gleefully exclaiming the company’s involvement in the “kill chain,” even going just shy of claiming the elimination of Osama bin Laden.In a letter to shareholders from only a few days ago, Karp doubled down.“We believe it is not hyperbolic to say that nearly all AI workflows that actually create value — especially on the battlefield — are built on Palantir,” he said.But recently, spokespeople have been seemingly attempting to obscure Palantir’s association with Karp’s kill chain.A Palantir spokesperson recently told the Guardian that it is just a software company and that it does not collect or monetise data but simply provides tools to help customers organise and understand their own information.But why would a software company need a manifesto? Let’s look at the software first. Functionally, Palantir is a layer on top of an operating system, using both AI and non-AI to execute on data. It offers two main products: Gotham, I’m not joking, is its defence-focused application, while Foundry, is its commercial-focused application.But these two applications were never meant to be distinct from each other. They are interoperable by design. The company has genuinely built in drag-and-drop features so data can move between Foundry and Gotham. Think about what that means for a moment: private consumer information has been designed to move seamlessly into software used by the military to execute strikes and surveillance.Palantir’s software is now infrastructure — public and private infrastructure. The company sits across defence, immigration, policing, prisons, supermarkets, banks and mines, ensuring data can move seamlessly between them all.Unfortunately, this is not some exclusively American problem that Australia can nervously giggle at. Palantir is already here.The Guardian reported that Palantir has reached nearly $80m in Australian state and federal contracts, with federal agencies including AUSTRAC and Defence spending an estimated $60m with the company.Palantir is not only making its way into our government. It also has several corporate clients in Australia.Coles signed a three-year partnership with Palantir in 2024 to use Foundry and AIP across its supermarkets, with the supermarket seeking to improve workforce planning and shift efficiency while gaining a more granular understanding of spend.To do this, Palantir uses Foundry to identify opportunities across 10 billion rows of data, comprising each store, team member, shift and allocation across all intervals in a day, every day. Everything you buy, every move by a team member, every cent spent at Coles now potentially sits in Palantir’s systems. With all that data, you would think Palantir could crack the code on cheaper groceries. Apparently, we haven’t come that far yet.Beyond our food, Palantir has also managed to creep into arguably Australia’s biggest industry: mining.Rio Tinto extended its relationship with Palantir in 2024, renewing an enterprise contract for ongoing access to Palantir’s AIP, with Palantir’s technology having been used across Rio’s WA iron ore operations and at Oyu Tolgoi.The partnership is especially difficult to come to terms with now, as whisperings of a 20% reduction in Rio Tinto’s Perth-based white-collar workforce inevitably stoke fears of AI-enabled redundancies.The food we eat is political, the ore we mine is political, and of course, the wars we wage are political too. But Palantir and Thiel insist their technology is not. It is something else.Palantir wants more than politics. It wants to be the operating system of the entire “Western world”, and it will do so without winning an election or persuading the public. It will do so by simply embedding itself in the fabric of our everyday lives, a fabric precariously draped over the war machine.So why does a software company need a manifesto? It’s because it doubles as Palantir’s product pitch.Off the Record is The Australian Mining Review’s weekly column. 
The quarry proposal was referred to the WA EPA almost 10 years ago.
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WA EPA rejects sand and limestone quarry
The WA Environmental Protection Authority (EPA) has recommended against a proposal to extract sand and limestone from a quarry at Preston Beach.The proposal, from Carlo Doyle’s Haulage, would involve extraction, screening and crushing, as well as grading and maintenance of Preston Beach North Road for haul truck access.The majority of material proposed for extraction would be used for the supply of agricultural lime.WA EPA chair Darren Walsh says the proposed quarry area is bordered on three sides by the Yalgorup National Park, an internationally recognised Class A Conservation Reserve and the second largest National Park on the Swan Coastal Plain.“The natural features of the Park are of high social significance, and the area is a popular recreation and camping destination for nature-based tourism,” he said.“Monthly visitor numbers are upwards of 70,000 during peak holiday periods and a single, unsealed access road made amenity impacts a key consideration during this process.“During what has been an unusually lengthy environmental impact assessment, largely due to the proponent’s delays in providing adequate information, the EPA encouraged the company to take measures to mitigate impacts.“However, while they made an effort to address haulage impacts, adequate mitigation measures were not provided, and it was beyond the proponent’s authority to undertake the management of third party-operated haul truck activities on a public road.”Mr Walsh said such management was necessary to ensure that the public’s enjoyment of the values of the national park was protected.“So in this case the EPA believes that noise and dust from combined quarry operations and truck haulage will result in unacceptable environmental impacts,” he said.Two-way haul truck movements associated with the proposal, seasonally between December and April, were estimated at up to 44 per day for the 20-year life of the quarry, according to the WA EPA.The report is now open for a three-week public appeal period, closing May 21, 2026, with the Minister for the Environment making the final decision on the proposal.
The WA Government has identified Bunbury, Kalgoorlie, Karratha, Port Hedland, Broome, Geraldton and Albany as critical to its vision for WA to become a renewable energy powerhouse and make more products locally.
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Rio Tinto commits $100m to regional worker housing
Rio Tinto (ASX: RIO) will invest $100m to support the delivery of more than 500 homes for regional frontline workers, as part of the WA Government’s Seven Cities Vision for regional WA.The Government Regional Officer Housing (GROH) expansion will be delivered across five years.The program will be partially funded through a partnership with major resources companies through the Resources Community Investment Initiative (RCII), with $100m from Rio Tinto, $50m from BHP and $20m from Hancock.Rio Tinto’s contribution will support new homes in Karratha, Wickham, Tom Price, Paraburdoo and Roebourne, while the broader state-wide program also includes 26 homes for regional frontline workers in Albany.Rio Tinto iron ore chief executive Matthew Holcz comments on the initiative.“Rio Tinto has a long and deep connection to regional WA, directly supporting six towns across the Pilbara and, through our fly-in fly-out program, providing employment and economic activity to a further six communities from the Kimberley to the Great Southern,” he said.“Being a good partner to those communities means investing in the things that make them work; the teachers, police and frontline workers who keep them safe and thriving. And for those people to be there, the right housing needs to be in place.“This $100m investment does exactly that, delivering more homes in Karratha, Wickham, Tom Price, Paraburdoo and Roebourne and supporting the many people who live and work in these communities.”WA Premier Roger Cook says Regional cities like Karratha and Port Hedland have been central to WA becoming the strongest economy in the nation.“While traditional industries like mining will continue to thrive, Karratha and Port Hedland will be front-and-centre to my government’s vision and becoming a renewable energy powerhouse and making more things here,” he said.“To seize the big job-creating projects in front of us in Karratha and Port Hedland, we need to continue to invest in economic infrastructure and expand their roles as hubs providing quality services to the towns and remote communities within the Pilbara.“I commend and thank Rio Tinto, BHP and Hancock Prospecting for partnering with my government on this GROH housing build, to support the delivery of better services in the communities in which they operate.”
The plant commissioning marks a key milestone in the company’s move to test lithium phosphate production at Pilgangoora.
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PLS advances mid-stream push, posts record production
PLS Group (ASX: PLS) has commenced commissioning of its mid-stream demonstration plant at the Pilgangoora operation in WA. Commissioning follows completion of an ownership restructure that gives PLS full ownership and operational control of the plant, alongside up to $38.1m in ARENA grant funding and a lithium phosphate offtake agreement with Ningbo Ronbay New Energy Technology. First product is expected in Q3 CY26.  Designed to process about 27,000t of spodumene concentrate annually into about 3000t of lithium phosphate, the demonstration plant is intended to test lower-emissions processing technology and assess future commercial pathways beyond just spodumene concentrate production. PLS managing director and chief executive Dale Henderson says global battery supply chains are still taking shape in this high-growth market, and over time the most competitive and technologically viable pathways will determine where long-term value is captured.  “The mid-stream demonstration plant is a deliberate step by PLS to test whether more value can be captured at the resource by moving further along the lithium value chain,” he said. “We acknowledge the Government’s continued support through ARENA grant funding, which reflects the potential of this project to deliver lower-emissions processing and increased onshore value-add in critical minerals. Together with our offtake relationship with leading LFP cathode producer Ronbay, this provides a strong foundation as we move into commissioning. “This is a disciplined validation and optimisation phase. If the technology performs and the product is accepted by the market, it creates a meaningful strategic option for PLS. If it does not, we will have tested it in a controlled and capital-efficient way.” The milestone builds on a strong March quarter for PLS, with the company reporting record spodumene production of 232,400t, up 12% on the previous quarter.  Revenue increased 52% to $567m, while unit operating costs fell 11% to $520/t. Operating cash margin rose to $461m and PLS finished the quarter with cash reserves of $1.46b.  PLS reaffirmed FY26 guidance and said the quarter reflected improved plant reliability and continued momentum across the Pilgangoora operation. Alongside commissioning, the company continued advancing broader growth initiatives, including preparing for the restart of operations at its Ngungaju plant, the P2000 expansion feasibility study and downstream development through its POSCO joint venture.
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