Author: Chloe Coutinho

Lynas posts 90% profit plunge, flags uncertainty in US plant Lynas Rare Earths (ASX: LYC) net profit after tax fell to $8m for FY25, a sharp decline from $84.5m in FY24. The miner has cited depreciation on plant and equipment at its Kalgoorlie facility and Mt Weld coupled with lower than nameplate production at the Kalgoorlie facility as contributing factors. Lynas has also noted its significant uncertainty as to whether the construction of its heavy rare earth processing facility at Seadrift, Texas in the US will proceed and if so, in what form. Lynas has an expenditure-based contract...

Westgold’s profit takes a hit despite record revenue Westgold (ASX: WGX) posted a net profit after tax of $35m in FY25, down from FY24’s $95m, citing impacts from one-off transaction and admin costs. Increased depreciation and amortisation resulting from the larger cost base and production from the Southern Goldfields and higher income tax year on year also contributed to the lower profit, according to Westgold. The miner maintained its full exposure to the higher gold prices throughout the year, which when combined with record production delivered a record yearly revenue of $1.36b, an increase of 90%. The incorporation of the...

IGO posts $955m loss in ‘disappointing’ FY25 Significant impairments and subdued product markets have driven a $955m full year net profit loss for IGO (ASX: IGO). The FY25 results include IGO’s share of net loss in TLEA, including full impairment of the Kwinana refinery assets ($605m) and derecognition of deferred tax assets relating to Kwinana ($58m). Additional impairments include $115m of exploration assets and a $58m increase in the company’s rehabilitation provisions for Nova, Cosmos and Forrestania. The results reflect challenging conditions in key markets with average realised spodumene price down 64% and average realised nickel price down 10%. Group revenue of $528m was down 37% from FY24 due...

Rio Tinto partners with Royal Flying Doctor Service Rio Tinto (ASX: RIO) will contribute $14.675m over the next five years in a new partnership with the Royal Flying Doctor Service (RFDS) (Queensland Section). The five-year social impact partnership will focus on strengthening healthcare access and outcomes across regional Queensland. Key areas include enhancing telehealth triage capability to better prioritise patient needs, introducing podiatry services to support chronic disease care, expanding mental health support across North and Far North Queensland and improving access to culturally appropriate care by increasing the number of Aboriginal and Torres Strait Islander health...

Fortescue receives landmark $3b loan Fortescue (ASX: FMG) has secured a syndicated loan facility of $3b (RMB$14.2b) to support its ambitious decarbonisation agenda. The loan facility comes from leading Chinese, Australian and international lenders. This is the first RMB syndicated term loan of its kind by an Australian corporate — a landmark transaction that Fortescue says reflects the depth of its long-standing relationships in China. Proceeds will be used for general corporate purposes and Fortescue’s decarbonisation efforts, including partnerships with Chinese suppliers and technology leaders. Fortescue executive chairman Dr Andrew Forrest says this isn’t just a financial transaction...

IGO director resigns IGO’s (ASX: IGO) Justin Osborne has resigned from his role as non-executive director, citing personal commitments. The IGO board is undergoing a measured renewal and succession process to provide better oversight and governance in the context of IGO’s refreshed strategy and its purpose to supply the commodities essential for a clean energy future. Since joining the board in 2022, Mr Osborne has contributed to the strategic oversight of the company, including as chair of the Nomination and Governance Committee. Mr Osborne has a strong background in exploration and has provided valuable insights to the company’s recent review of its exploration business model. The IGO board...

PLS backs 14 community projects PLS (ASX: PLS) has announced the recipients of its 2025 Community Grants Program, supporting grassroots community programs and projects making a meaningful impact across the Pilbara region of WA. This year, 14 community projects have shared in more than $120,000 of funding to help improve access to education programs, strengthen community resilience and support the region’s transition to renewable energy. 2025 grant recipients: Desert Wave Records Port Hedland MMA Association Saving Animals from Euthanasia Port Hedland Motorcycle Club Hedland Water Polo Association Hedland Men’s Shed Graham...

Speewah receives $2m from Federal Government Tivan (ASX: TVN) has received $2m from the Federal Government for the Speewah fluorite project under its International Partnerships in Critical Minerals (IPCM) program. This marks the second payment instalment under the grant. Tivan was awarded a $7.4m cash grant to part fund completion of feasibility and definitive feasibility studies for the project. In addition, a deed of novation has been executed with the Federal Government to novate the IPCM grant agreement from Tivan to Fluorite SPV, the project owner and vehicle for the incorporated joint venture between Tivan, Sumitomo Corporation and Japan Organization for Metals...

Infinity confirms high-grade gold assays Infinity Mining (ASX: IMI) has returned assay results from the Sir Walter Scott gold prospect in NSW with a maximum of 68.6g/t gold. Nine of the twelve gold assays returned over 1g/t gold. The new gold assays are consistent with historical anomalous rock chip gold assays collected by Little River Goldfields and Key Resources in the 1980s. Highlights from the new rock chip program include: 6 g/t gold — Laminated quartz vein with minor sulphides, from dump next to small open cut. 3 g/t gold — As above. 19 g/t gold — Massive quartz with traces of sulphides, from...

Rapid Critical Metals drilling approved Rapid Critical Metals (ASX: RCM) has been granted for a diamond drilling program at the company’s flagship Webbs silver project in northern NSW. The project was recently acquired as part of Rapid’s strategic consolidation of silver assets in the prolific New England Fold Belt. The initial drill campaign will comprise diamond holes for approximately 2000m, designed to upgrade the existing resource to 2025 JORC compliance, improve geological confidence in current resource categories, test highly prospective southern extensions and investigate a potential parallel lode to the west. These targets were refined following the completion...

Rio Tinto locks in $276m for Amrun Rio Tinto (ASX: RIO) has approved an investment of $276m (US$180m) and commenced work on the Norman Creek access project at its Amrun bauxite mine on Queensland’s Cape York Peninsula. The Norman Creek access project will enable mining of the Norman Creek region of Amrun, which holds approximately half of the currently declared Amrun ore reserves of 978mt. Construction is underway on key infrastructure, including a 19-kilometre haul road, camp accommodation and a communications tower. First production from Norman Creek is targeted...