Author: Chloe Coutinho

Fortescue (ASX: FMG) shipped 49.7mt of iron ore in Q1 FY26, a record amount for the company, up 4% on the prior year.  Guidance for FY26 shipments, C1 unit cost and capital expenditure remains unchanged.  Total ore mined was 60.1mt and total ore processed of 50.8mt, 5% and 6% higher than Q1 FY25, respectively.  While performance was strong, Iron Bridge is still lagging. The operation contributed 2.1mt of iron ore in Q1, well below its nameplate capacity of 22mtpa. Fortescue expects the operation to reach nameplate capacity by FY28.  Fortescue metals and operations chief executive Dino Otranto comments on the company’s Q1 progress.  “We reached important milestones this quarter, including the successful syndication of a Renminbi-denominated term loan and the…

Australia’s resources and energy employer group has urged the Federal Government to take urgent action to reform the Fair Work Commission (FWC), citing performance concerns amid a surge in workplace claims.   This follows significant increases in case load for the FWC in recent years.  In an address to the Tattersalls Club Workplace Relations Group in Brisbane, AREEA chief executive Steve Knott warned that the Commission is ‘drowning in employee claims,’ pointing to data showing unfair dismissal and general protections cases have surged between 20-50% in the past year.  According to data from the Fair Work Commission, as of July 2025 total lodgments are up 22% compared to July 2024. Lodgments are 52% higher than the July three-year average.  General protections…

South32’s (ASX: S32) FY26 production guidance will remain unchanged after a quarter marked by better-than-expected manganese output.  Manganese production increased by 33% in Q1, following Australia Manganese’s successful operational recovery plan and ramped up export shipments.   South Africa Manganese saw a 7% decrease in production, reflecting underground development activity.   South32 chief executive Graham Kerr comments on the Q1 results.  “Production highlights included a 12% increase in payable copper equivalent production at Sierra Gorda and a 33% uplift in manganese volumes, as we successfully executed the operational recovery plan at Australia Manganese,” he said.  “Our financial position remains strong as we continued our investment in growth at Hermosa, supported by US$117m in net distributions from our Sierra Gorda…

BHP (ASX: BHP) achieved record material mined at its WA Iron Ore operations amid reports that China has told its major steelmakers and traders to temporarily halt purchases of all cargoes from the miner. Despite record material mined, iron ore production decreased 1% to 64mt. FY26 iron ore production guidance remains unchanged at 258-269mt. BHP says the first quarter was a period of significant planned maintenance for WAIO. Iron ore sales were broadly in line with the prior year, with a 5% increase in sales of higher-value lump. “We sell and ship iron ore products via different commercial distribution channels, this includes seaborne sales and portside sales in China which have increased over recent years in line with our strategy,”…

A largely unknown site has said the quiet part out loud.  On Friday evening, SteelOrbis, a small website based in Istanbul, published a story suggesting that BHP (ASX: BHP) would settle 30% of its spot iron ore sales to China in RMB instead of US dollars starting in Q4 2025.  The report, while attention grabbing, has yet to be confirmed, as both BHP and China’s state-run iron ore buyer CMRG are keeping quiet amid ongoing negotiations.   Similar unconfirmed reports surfaced in late September, claiming that CMRG had told major steelmakers and traders to temporarily halt purchases of all new BHP (ASX: BHP) cargoes.  In this case, the reports prompted a more substantial reaction, with Prime Minister Anthony Albanese saying he…

China has introduced new export controls on rare earths and related technologies ahead of trade talks with the US, barring its citizens from unauthorised overseas mining. This brings the total count of export-restricted rare earth elements to 12, as China tightened restrictions on seven in response to tariffs imposed by the Trump Administration earlier this year, stalling key defence, energy and automotive sectors. The new controls, effective immediately, require exporters to obtain permission for technologies used for rare earth mining, smelting and other processing steps, the Chinese Ministry of Commerce said in a statement. Additional controls, effective December 1, require foreign entities to obtain a license to export any products manufactured using China’s technology, equipment or materials even if the…

Anglo American has launched arbitration proceedings against Peabody Energy over the failed $5.7b sale of its Queensland steelmaking coal mines. Peabody pulled out of the sale by invoking a material adverse change (MAC) in August following a fire at Anglo American’s Moranbah North mine. Anglo American believed the event did not constitute a MAC under the definitive agreements due to the lack of damage to the mine or equipment and the clear progress being made within a rigorous and structured regulatory process towards restarting the mine. The buyer says it remains confident that a MAC occurred, entitling Peabody to terminate the purchase agreements. Peabody has now demanded the remainder of its $114m deposit to be returned without further delay. Anglo…

The Federal and Queensland Governments will provide a $600m support package to maintain operations at the Mount Isa copper smelter and Townsville copper refinery. The agreement will allow the smelter — which provides half of Australia’s copper smelting capacity — and the refinery to continue operations until the end of 2028. Australia has only two operational copper smelters — Mount Isa and BHP’s at Olympic Dam — but they face huge competition from China. China has invested heavily in copper smelting and now has 44 smelters, with the surge in Chinese production creating an unprecedented decline in the global smelting market, according to the International Copper Association Australia The bailout follows the shuttering of Glencore’s Mount Isa copper mine in July,…

In early September, the Trump Administration rebranded the US Department of Defence (DOD), restoring the moniker last deployed in the 1940s. The executive order for the name change says the update conveys a stronger message of readiness and resolve compared to Department of Defence, which emphasises only defensive capabilities. At the signing of the executive order, US Secretary of Defence Pete Hegseth said the country would “go on offence, not just on defence. Maximum lethality, not tepid legality. Violent effect, not politically correct.” One unlikely manoeuvre is taking shape with the US Department of War (DoW) now making significant investments in critical minerals as the country ramps up its search to establish alternative, secure, non-China supply chains. Earlier this year,…

The US Government shut down yesterday amid a funding standoff, temporarily shuttering government agencies and leaving about 750,000 workers facing furlough. Immediately following the shutdown, the spot price for gold reached a record high of $5904.61/oz. The spot price for gold has climbed nearly 50% since this time last year. US Government shutdowns occur when there is a funding gap — when Democrats and Republicans cannot pass a bill funding government services into the new fiscal year (beginning October 1 in the US). The shutdown is the first in nearly seven years and the third to occur with US President Donald Trump in office. The last shutdown, spanning December 2018 through January 2019, was the longest in history, lasting 35…

BHP (ASX: BHP) is investing in a series of growth-enabling projects at Olympic Dam in a move to strengthen the foundations of underground mining productivity. According to BHP chief operating officer Edgar Basto, the miner expects to grow its copper base from 1.7mtpa to about 2.5mtpa. “Achieving that scale requires significant copper growth and we are fortunate to have a world-class copper province right here in South Australia to do just that,” Mr Basto said. “The South Australian copper province is already performing strongly, consistently delivering more than 300,000tpa for the past three years. We are progressing a series of strategic projects that will strengthen our base business and help lay the foundations for future growth.” The investment is funding…