Author: Samantha Bawden

After eight years of negotiations, Australia has signed a free trade agreement (FTA) with the European Union (EU) to lower trade and investment barriers between the regions.Yesterday, Prime Minister Anthony Albanese and European Commission President Ursula von der Leyen announced the conclusion of negotiations for a FTA alongside a new security and defence partnership.The FTA will boost trade and cooperation on critical minerals, reinforcing the Australia–EU strategic partnership on critical minerals by establishing a clear framework that underpins market access and long-term cooperation across the full minerals value chain.Under the FTA, almost all Australian exports of manufactured goods and mineral resources to the EU will face zero import tariffs.Federal Trade and Tourism Minister Don Farrell says the FTA is a strategically important and economically valuable agreement at a time when Australian exporters are navigating choppy trade waters.“This hard-fought deal delivers real commercial gains for Australian exporters, farmers and producers into a market that has been difficult to enter or effectively closed for decades,” he said.“The removal of EU tariffs on most of Australia’s exports gives Australian exporters the opportunity to diversify trade with 27 European countries and 450 million consumers.”Australian companies, including small and medium-sized enterprises, will have better access to bid for lucrative European government contracts, worth about $845b annually, including for rail and construction.Australian professionals will also be able to travel to the EU more easily and will benefit from streamlined recognition of their Australian qualifications.Minerals Council of Australia chief executive Tania Constable says Australia is positioned to be a reliable, long-term supplier of the minerals essential to energy systems, defence technologies, advanced manufacturing and broader industrial resilience.“Mutual recognition of qualifications, professional services and specialist expertise will strengthen industrial capability by improving workforce mobility so critical engineering, technical and professional skills can be deployed more efficiently across mining, processing, manufacturing and defence?adjacent sectors,” she said.“The agreement improves market access for Australian miners, enhances investment certainty and provides a strong platform for increased EU investment into Australian mining projects, downstream processing and critical minerals supply chains.”The FTA will enter into force when both Australia and the EU have completed their domestic processes.

Liberty Bell Bay in Tasmania, one of billionaire Sanjeev Gupta’s last remaining Australian assets, has entered voluntary administration.The Tasmanian Government is actively engaging with the appointed administrators, receivers and key stakeholders to follow developments at the smelter and its implications to the state.In early March, the Australian Securities and Investments Commission (ASIC) lodged an application to the Supreme Court of NSW to wind up operations at Liberty Bell Bay following its failures to lodge annual financial reports for five consecutive years.The smelter has been operating at a limited capacity since May despite being granted a $20m loan from the Tasmanian Government in August to purchase 48,000t of ore to facilitate its restart.In late January, the Tasmanian Government confirmed that Liberty Bell Bay had repeatedly defaulted on repayments and breached the loan agreement terms.Tasmanian Business, Industry and Resources Minister Felix Ellis says the news will be difficult for workers, their families and the local community who have already endured prolonged uncertainty.“GFG has failed to deliver on its commitments to restart operations and provide certainty to Tasmanians,” he said.“We understand that administrators have been appointed with the intention of stabilising the business and testing the market for a potential sale or recapitalisation.“We will carefully consider all available options, with a clear focus on securing the best possible outcome for workers, the Bell Bay region and Tasmania’s industrial future.”Liberty Bell Bay is the latest in a trail of resource assets led by Mr Gupta across Australia that have fallen into administration.In February, Mr Gupta placed Tahmoor coal mine into voluntary administration in an effort to prevent creditors, led by Coal Mines Insurance (CMI), from forcing liquidation of the asset over unpaid insurance claims.In 2025, the South Australian Government forced Whyalla Steelworks’ operator OneSteel Manufacturing into administration to avoid it becoming “irredeemable” under Mr Gupta who was the previous owner.

The Queensland Government has declared the proposed $2.3b Eva copper mine a large resource project under the Strong and Sustainable Resource Communities Act 2017.The declaration means, if approved, the project must employ a percentage of its workforce locally and prioritise local procurement, ensuring long-term social and economic benefits for the surrounding Mt Isa and Cloncurry communities.Located 75km north of Cloncurry and 95km northeast of Mount Isa, the Eva project is expected to produce an average of 60,000tpa of copper and 19,000ozpa of gold over a 15?year mine life.Copper concentrate extracted at the project will be processed locally at Glencore’s Mount Isa copper smelter, supporting existing industrial capability in the region.Queensland Deputy Premier and State Development, Infrastructure and Planning Minister Jarrod Bleijie has also extended Eva’s prescribed project declaration, providing additional certainty and streamlined approval pathways.The extension allows the coordinator general an additional two years, until March 25, 2028, to continue providing coordinated support and fast-tracking approvals to keep the project moving.Deputy Premier Bleijie says the Queensland Government is focused on delivering a better lifestyle through a stronger economy, by supporting projects that deliver jobs, investment and long-term regional benefits.“Eva copper has the potential to be Queensland’s biggest copper mine, and we want to ensure the communities closest to the project share directly in its success,” he said.“Declaring Eva copper a large resource project strengthens local employment opportunities, supports regional businesses and ensures long term benefits for Mount Isa and Cloncurry.”The project, owned by Harmony Gold, is anticipated to generate up to 1000 construction jobs and 450 ongoing operational roles, delivering a major boost to the region’s workforce and economy.Cloncurry Mayor Greg Campbell says Eva’s designation as a large resource project would assist local efforts to ensure benefits for the Cloncurry community.“We want to make sure the project not only generates long-term economic benefits throughout our local supply chains but also creates social and community benefits for our residents,” he said.Forecast to inject more than $17b into Queensland’s economy, first copper concentrate is expected to be delivered to the Mount Isa smelter in 2028.Harmony Gold chief development officer Johannes Van Heerden says the company welcomes the Queensland Government decisions.“As a Tier 1 Mining jurisdiction, Queensland offers coordination support and a stable regulatory framework that has helped Eva copper move forward through planning and into construction with certainty,” he said.

The Minerals Council of Australia (MCA) has asked the Federal Government to fund a three-year pilot program to embed AI into environmental regulatory decision-making.The pilot would trial AI support for human decision-making to improve the transparency and accuracy of assessment and approvals under the Environment Protection and Biodiversity (EPBC) Act.Approval delays remain a key concern for the mining industry and regulatory bodies.According to the MCA, an increase in average decision times for resources projects of 60% from 2.3 years in 2019 to 3.8 years in 2025 is creating uncertainty, costing the Australian economy billions and eroding investor confidence.The MCA says AI tools, such as an interactive submissions coach for project proponents, a pre-submission quality check, geospatial data integration and tracking and a risk comparison capability, would reduce proponent errors in applications, eliminate duplication and support faster, better-informed decisions.The proposed pilot would aim to reduce inefficient manual document reviews, inconsistent application of conditions and repeated lengthy requests for information with the aim of enabling regulators to focus effort on more complex and high-risk approvals.The first solution is estimated to take about 12-20 weeks, and the total program development across the four solutions is estimated to take 6-12 months.The MCA says a smaller amount of ongoing capital investment will enable continuous improvement and system evolution.MCA chief executive Tania Constable says embedding AI in approvals can position Australia as a global leader in sustainable development and in responsible innovation using the minerals sector’s extensive use of AI in current operations and understanding of EPBC processes.“We know that EPBC delays and uncertainty can result in millions of dollars in lost project value, duplication of costs and missed investment opportunities which negatively affects communities and the Australian economy as well as project proponents,” she said.“This approach would help government deliver modern, efficient environmental regulation while meeting environmental objectives.”The use of AI-enabled tools in the mining industry, from machine learning, predictive analysis, autonomous haulage systems to safety monitoring and decision making, is becoming increasingly commonplace.The NSW Government has an AI solution to review building permit applications as part of the State significant development process, automate compliance checks and accelerate assessmentsIn the mining-intensive Canadian province of British Columbia, Mining Digital Services built an AI-powered searchable library that extracts and verifies permit conditions from documents, reducing reliance on institutional knowledge and enabling faster compliance reportingDeveloped by Pacific Northwest National Laboratory in the US, PermitAI is being developed to support environmental reviews by searching prior assessment and assist document drafting.Though these ongoing advancements are creating new opportunities, implementing AI is not without risk. According to S&P Global, primary concerns include data security and overreliance on empirical and modelled data alongside a series of ethical dilemmas.The growth of AI infrastructure also raises questions about electricity demand and water use, particularly as data centre investment accelerates.In 2024, data centres accounted for about 1.5% of global electricity consumption, according to the IEA.The IEA projects that data centre electricity consumption may grow by about 15% per year until 2030, more than four times faster than the growth of total electricity consumption from all other sectors.Global investment in data centres is accelerating and, though the IEA projects the US, China and Europe will remain the largest data centre regions, Australia is well-placed to become a global leader.This week, the Federal Government released a series of expectations for data centres and AI infrastructure developers as part of its commitment under the national AI plan, stressing that data centre expansion must happen on terms that benefit the community and supports national interest.The expectations are designed to ensure data centre developments put the needs of the Australian people first, ensuring communities benefit directly through jobs, investment in skills and innovation while supporting the clean energy transition and safeguarding long-term water security.Federal Climate Change and Energy Minister Chris Bowen says it is no surprise Australia is an attractive investment destination for data centre technology.“Data centres have great potential to support our grid and expand new renewable investment, but it’s important we work together across jurisdictions and with industry to get the investment settings right so that we can continue to keep our system secure and energy prices low for all consumers,” he said.The Federal government’s five expectations are that the developments will:Prioritise national interest Support the energy transition Use water sustainably and responsibly Invest in local skills and jobs Strengthen research, innovation and local capabilityThe Federal Government will prioritise proposals most closely aligned with the overarching national expectations which will work alongside existing laws and help guide local decisions in each state and territory.

International Seabed Authority (ISA) Council negotiations have concluded without the adoption of an agreed upon deep sea mining code and without any mining approvals being granted.  The two-week negotiations exposed unresolved disagreements between participants on issues ranging from environmental safeguards and liability to inspection, compliance and benefit-sharing, with several governments raising major scientific, environmental and governance concerns.  ISA member states also supported the ISA’s legal and technical commission’s (LTC) inquiry and preliminary report into contractor non-compliance, which revealed that an ISA contractor may be in breach of its contract. The report also revealed the contractor may be in breach of its obligations to act in accordance with the multilateral framework under the United Nations Convention on the Law of Sea (UNCLOS). Deep Sea Conservation Coalition (DSCC) policy lead Emma Wilson says that if breaches are confirmed, contracts must be terminated. “Contractors cannot hold exploration contracts under the international system while simultaneously undermining it by seeking to mine unilaterally,” she said. “The ISA’s response to threats of unilateral mining is a critical test for the authority.” The inquiry also comes amid concerns surrounding attempts to pursue unilateral deep-sea mining, including questions about the involvement of Nauru Ocean Resources (NORI), a subsidiary of The Metals Company.  DSCC legal advisor Duncan Currie says the inquiry goes directly to the ISA’s core responsibility to the deep seabed as the common heritage of humankind. “If companies attempt to bypass the Authority by pursuing mining through a unilateral national process, it would constitute an unauthorised appropriation of the global commons under the UNCLOS.” A full LTC report is expected at the July meeting, when NORI’s contract is due for extension. The DSCC continues to call on governments to adopt a moratorium on deep sea mining. 

Long gone are the days of sub dollar prices at the bowser.The global oil market is experiencing unprecedented turmoil as the war in the Middle East creates the largest supply disruption in the history of the global oil market, according to the International Energy Agency (IEA).The crisis has led to a near halt in tanker movements through the Strait of Hormuz, a critical oil transit chokepoint between Oman and Iran. As crude and oil product flows plunge from about 20mb/d before the war to a trickle at present, Gulf countries have cut total oil production by at least 10mb/d, according to IEA data.With limited options to bypass the chokepoint, the strain is being felt by producers and consumers worldwide.Benchmark crude oil prices have surged about 40% since the start of the conflict, according to Trading Economics.Damage to Gulf state energy infrastructure is also having a major effect on prices.On March 19, Israel targeted Iranian facilities linked to South Pars, the world’s largest natural gas field.In response, Iran struck a major LNG site in Qatar, causing crude prices to surge 8% overnight with prices nearly hitting US$120 a barrel.In the absence of a rapid resumption of shipping flows and unrestricted refining capacity, the IEA anticipates increasing supply losses.CommBank commodities and sustainable economics head Vivek Dhar says while rising crude prices have captured global attention, refined fuel is the bigger concern for economies.“The product everyone is worried about is diesel, and for good reason,” Mr Dhar said.Diesel is used extensively in trucking, farming and mining in Australia.“The concern is that we roughly have 30 days of stockpiles,” Mr Dhar said.As petrol and diesel prices skyrocket, governments globally are scrambling to stave off panic buying and price gouging as they address fuel shortages.According to the Australian Consumer and Competition Commission (ACCC), petrol and diesel prices varied significantly across Australia but, on average, have increased by about 50 cents since the beginning of March.Yesterday, Prime Minister Anthony Albanese convened a meeting of the national cabinet and established a national fuel supply taskforce to lead the country’s response to the ongoing crisis.“I want to assure Australians at this time that Australia is well prepared… I want us to be overprepared,” Prime Minister Albanese said.Leaders agreed that while Australia is well prepared, the longer the conflict in the Middle East goes on, the more significant the impact will be for global supply chains, fuel prices and the wider economy.The Federal Government has appointed former Australian Energy Regulator chief executive Anthea Harris as the taskforce coordinator to drive collaboration across governments and sectors.As part of Ms Harris’ role, she will provide regular updates on fuel supply outlook and distribution.The Federal Government confirmed there are some shortages in specific areas due to panic buying.“There is not less fuel in Australia today than there was three weeks ago,” prime Minister Albanese said.“There is not less supply. This is an issue… of increased demand.”Since the conflict commenced two weeks ago the Federal Government has released up to 20% of its diesel and fuel reserves to help address regional shortages and temporarily amended national fuel standards to keep more Australian-made fuels onshore.IEA member countries have also agreed to release an unprecedented 400m barrels of oil from their emergency reserves to the market to mitigate the negative impact on economies from the supply disruptions.Though the emergency stock release provides a welcomed buffer for the global energy market, it remains a stop-gap measure if the conflict in the Middle East is not resolved.

Australian scientists have made a significant leap forward in energy storage technology with the world’s first proof-of-concept quantum battery.Led by CSIRO and collaborators from RMIT University and the University of Melbourne, researchers developed a new quantum battery architecture that enables, for the first time, a complete quantum battery charge-discharge cycle.The results provide the first experimental demonstration of superextensive light-to-charge conversion in steady-state, highlighting the feasibility of leveraging strong light–matter coupling for enhanced energy harvesting under low-light conditions.Though fully functioning quantum batteries don’t yet exist, researchers are confident they could transform how society uses and stores energy in the future.Quantum batteries leverage the unique properties of quantum mechanics, such as superposition and entanglement, whereas today’s batteries largely rely on chemical reactions, CSIRO says.CSIRO quantum science and technologies science leader Dr James Quach says the team’s findings confirm a fundamental quantum effect that's completely counterintuitive — quantum batteries charge faster as they get larger."The research validates the exciting potential of quantum batteries for unprecedented efficient and rapid energy storage,” he said.“My ultimate ambition is a future where we can charge electric cars much faster than fuel petrol cars, or charge devices over long distances wirelessly.”Until now, the study of quantum batteries has been predominantly a theoretical endeavour with scarce experimental verification.As the first experimental demonstration of a full operational cycle of a quantum battery, the CSIRO researchers’ device represents a decisive step forward in the development of quantum battery technologies.The battery the researchers engineered has a multi-layered organic microcavity and is wirelessly charged with a laser. The protypes charging behaviour was confirmed by using advanced spectroscopy techniques which showed it retained stored energy for six orders of magnitude longer than it took to charge.This research proves key predictions about these revolutionary devices and offers a glimpse into a possible future powered by quantum energy storage."Our proof-of-concept device showcases rapid, scalable charging and energy storage at room temperature, laying the groundwork for next-gen energy solutions," Dr Quach said."While there's still much work to be done in quantum battery research, we've made an important move towards realising the possibilities.“The next step for quantum batteries right now is extending their energy storage time. If we can overcome that hurdle, we’d be that bit closer to commercially viable quantum batteries."

Pan African Resources will consolidate its ownership of the Tenant Creek project in the Northern Territory as part of an all-share acquisition of Emmerson Resources (ASX: ERM).The companies have signed a scheme implementation deed that will see Emmerson shareholders gain 0.1493 shares of Pan African in the form of ASX-listed chess depositary interests for each share they hold — implying an offer price of $.45 for each Emmerson share.The Emmerson Board has unanimously recommended that shareholders vote in favour of the scheme.Emmerson chairman Mark Connelly says the transaction will deliver immediate value to shareholders.“This combination with our trusted joint venture partner represents a highly compelling and strategically logical consolidation of our Tennant Creek tenement package,” he said.“We are excited about the future prospects of the combined group and the enhanced opportunities it will create for Emmerson shareholders.”Pan African is a growing gold producer with a portfolio of operations across South Africa and Australia. The company has a current market capitalisation of about $7b and is forecast to produce more than 275koz of gold in FY26.As part of the scheme, Pan African will also undertake an ASX listing.Pan African chief executive and executive director Cobus Loots says the transaction is the logical next step.“Bringing the assets under single ownership allows us to optimise project sequencing and capital allocation across the region, maximising value for all shareholders,” he said.“We are confident we have the technical expertise, operational capability and financial strength to unlock the full potential of Tennant Creek.”Corrs, Australia’s leading independent law firm, advised on all aspects of the transaction with support from the firms’ corporate, banking and finance, regulatory, tax, energy and natural resources, real estate and employment, labour and safety practices.Corrs partner Rusell Philip says the transaction marks a meaningful step in Pan African’s growth strategy in the Australasian region.“We are proud to support the company as it continues to expand its global footprint,” he said.“The transaction reinforces Corrs’ market-leading reputation for delivering trusted advice on complex cross-border transactions in the resources sector.”

Lynas Rare Earths (ASX: LYC) has signed a binding letter of intent with the US Department of War to finalise a four-year rare earth oxide offtake agreement. Under the agreement, Lynas will allocate $137m worth of rare earth oxides to support US supply chain resilience objectives with an established floor price for supply of US$110/kg for neodymium and praseodymium. This offtake agreement follows the mutual decision to modify the original agreement between Lynas and the DoW based on significant uncertainty as to whether the construction of the heavy rare earth (HRE) processing facility at Seadrift, Texas would proceed. Lynas chief executive and managing director Amanda Lacaze says, through the agreement, the US Defense Industrial Base will continue to have access to rare earth oxides essential for modern manufacturing. “We thank the US Government for working with Lynas to reach this mutually beneficial arrangement and look forward to finalising the definitive agreement in due course and continuing our productive engagement," she said. Lynas and the DoW continue to discuss further supply arrangement for HRE oxides.  Last week, Lynas extended its rare earths supply deal with Japan Australia Rare Earths (JARE) through to 2038 and established a floor of US$110/kg for neodymium and praseodymium — identical to that set in the DoW agreement.  As the world’s only significant producer of separated rare earth materials outside of China, Lynas is strategically important to diversifying the global supply of rare earths. This significance has been bolstered by the company’s H1 FY26 results in which the company reported a 63% rise in revenue for $413.7m — Lynas’ best first-half profit in three years.  Lynas saw the average price of all its rare earth products rose to $96/kg during the half, a trend that continued in 2026 with neodymium and praseodymium reaching a domestic price of $157 /kg in China.