Author: Chloe Coutinho

BHP invests $840m in Olympic Dam 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...

Rio Tinto may retire Gladstone coal-fired power station early Queensland’s oldest and largest coal-fired power station — the Gladstone Power Station (GPS) — could retire in 2029, six years earlier than expected. Rio Tinto (ASX: RIO) says no final decision has been made to retire GPS, which has operated since 1976, and there is potential to extend the life of the power station should market and other factors allow. The miner says there is no immediate impact on operations and existing power supply contracts, including to Boyne Smelters, will remain in place until their scheduled expiry in March 2029. The GPS JV participants recognise the contribution of the power station to the Gladstone community and are committed to work with...

Liontown revises Tesla deal Liontown (ASX: LTR) has amended its pricing mechanism in its long-term offtake agreement with Tesla. This comes as the miner shifts from lithium hydroxide indices to spodumene concentrate, in line with Liontown’s strategy to be exposed to a ‘basket’ of pricing references across the main lithium products. The revised pricing mechanism will apply to all future deliveries under the agreement. There is no change to the remaining volumes under the agreement for the balance of the term ending in 2029. Liontown is also in advanced discussions with Ford Motor Company in relation to proposed amendments to the offtake and...

China bans all BHP iron ore  China’s state-run iron ore buyer has told major steelmakers and traders to temporarily halt purchases of all new BHP (ASX: BHP) cargoes, Bloomberg reports, citing people familiar with the matter.  China Mineral Resources Group (CMRG) reportedly asked domestic buyers to suspend purchases of any dollar-denominated seaborne cargoes from BHP.  CMRG was established in 2022 in an aim to centralise iron ore demand, tighten control over the global steel market and give Chinese steel producers more control over prices.  This ban signals an escalation from CMRG, as the group similarly halted the purchase...

Newmont’s Tom Palmer retires Newmont (ASX: NEM) chief executive Tom Palmer will step down from his role as chief executive on December 31, 2025. Natascha Viljoen, president and chief operating officer, will succeed Mr Palmer as president and chief executive and will also join the board of directors on January 1, 2026. Mr Palmer will serve as a strategic advisor until his retirement on March 31, 2026, to support a seamless leadership transition. Mr Palmer comments on his resignation....

MinRes upgrades Onslow Iron haul road Mineral Resources (ASX: MIN) has safely completed the upgrades to the Onslow Iron private haul road, allowing unconstrained haulage to resume at normal speeds. Roadworks included seal binder upgrades and cement stabilisation to enhance pavement strength and moisture resistance, as well as asphalting along the entire length of the sealed road. The width of the upgraded private haul road spans 11 sealed metres from edge to edge, two metres wider than typical public roads used for heavy haulage in the Pilbara region. Mineral Resources managing director Chris Ellison comments on the upgrades. “Onslow...

Alcoa permanently closes Kwinana refinery Alcoa (ASX: AAI) has confirmed a $1.36b (US$890m) plan to permanently close its Kwinana alumina refinery in WA, citing the age of the facility, scale and operating costs, market conditions and bauxite grade challenges. This follows the curtailment of production at the refinery in June 2024. The Kwinana refinery currently has about 220 employees. Alcoa says this number will be reduced during 2026 as the closure progresses. Certain employees will remain beyond 2026 to prepare the site for future redevelopment. Permanently closing Kwinana’s 2.2mmt of annual capacity will bring Alcoa’s global consolidated refining capacity to 11.7mmt. Alcoa has undertaken numerous studies and analyses since curtailment to determine the future of the refinery, including restart and closure....

BHP’s Copper SA gets largest renewable electricity deal BHP has entered into its third and biggest renewable electricity supply arrangement for Copper SA. Under this baseload electricity arrangement, 100MW of renewable electricity will be supplied to power BHP’s Copper SA province, including the Olympic Dam mine, smelter and refinery as well as the Carrapateena and Prominent Hill operations. It will be supported by output from the first 300MW of Neoen’s Goyder North Wind Farm, reinforced by their new Goyder Battery with a minimum capacity of 200MW/9800MWh, and Neoen’s in-house energy management...

Fortescue signs international decarbonisation-driven deals Fortescue (ASX: FMG) has signed agreements with four major green energy innovators to accelerate decarbonisation in the Pilbara and beyond. Announced in New York during the United Nations General Assembly, the agreements are with global leader in electric vehicles and in battery manufacturing and development, BYD; solar technology and manufacturing giant, LONGi; construction and mining equipment manufacturer, XCMG; and wind and energy storage leader, Envision Energy. Fortescue has also finalised the acquisition of Spanish...

Kathleen Valley’s first year results in $193m loss for Liontown  Liontown Resources (ASX: LTR) posted a $193m loss for FY25 in the company’s first year of operations at the Kathleen Valley lithium mine in WA.  The statutory net loss after profit includes an $81m non-cash write-down of ore sorting potential (OSP) stockpiles, foreshadowed in the June quarter results.  Liontown managing director and chief executive Tony Ottaviano comments on the loss.  “While we reported a statutory loss, this was expected in a commissioning year and reflects depreciation and the treatment of stockpiles...

Core frees Finniss production  All future Finniss spodumene production is now unencumbered, following the termination of Core Lithium’s (ASX: CXO) offtake agreement with Ganfeng Lithium.  The offtake agreement was in relation to spodumene concentrate from the Finniss lithium project, located 88km by road southwest of Darwin Port in the Northern Territory.  The earlier termination of the Yahua offtake agreement together with this settlement, effected through a one-off $3m (US$2m) payment to Ganfeng, all spodumene offtake obligations are removed, leaving 100% of future Finniss production unencumbered.   This provides Core with complete marketing flexibility, with all future spodumene concentrate production now available for project partners or spot sales.   Core...