Author: Samantha Bawden

‘Pilbara Killer’ set to reshape iron ore market
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‘Pilbara Killer’ set to reshape iron ore market
The Simandou iron ore project in Guinea is set to be the primary catalyst for long-term supply growth of seaborne iron ore as ramp-up begins, according to Wood Mackenzie.Wood Mackenzie expects Simandou to export around 16mt in 2026, with volumes rising progressively thereafter despite infrastructure bottlenecks and logistical complexities driving a phased and non-linear increase in output.After more than two decades of delays, the project entered its execution phase following Guinea’s political reset in September 2021, which resolved a long-standing development deadlock. Development has since progressed steadily, with early exports now in focus and downstream market impacts beginning to emerge.Rather than simply adding volume, Simandou is expected to displace higher-cost supply, tightening the competitive landscape and reinforcing a sharper cost and quality hierarchy across the seaborne market, according to Wood Mackenzie.Wood Mackenzie iron ore research director David Cachot says Simandou will become the single biggest driver of seaborne supply growth over the coming decade.“These tonnes will increasingly displace higher-cost supply, reshape the cost curve and reinforce the market’s shift toward higher-quality material,” he said.“The ramp-up will not be linear, and that uncertainty will be a key factor shaping market sentiment in the near term.”For Australian producers, near-term impacts remain manageable as the Pilbara continues to benefit from blending optionality, with lower-grade ores clearing the market efficiently when combined with higher-quality material, according to Wood Mackenzie.However, Wood Mackenzie expects this advantage to erode over time and, as Simandou ramps up and demand preferences shift toward higher-quality feedstocks, competitive pressure is likely to emerge first in lower-grade supply.“This does not imply an abrupt displacement of Pilbara volumes,” Mr Cachot said.“Rather, it highlights where pressure will emerge first, as marginal tonnes become increasingly vulnerable in a more quality-sensitive market.”The competitive interaction with Brazil appears more direct as Brazilian producers, particularly Vale, compete head-to-head with Simandou on quality, prompting a shift toward greater portfolio flexibility.Rather than defending every premium tonne, producers are increasingly optimising product mix, including blending strategies and selective use of third-party material and, while high-grade Brazilian supply remains well positioned over the longer term, increased competition in premium segments may place pressure on realised premia, Wood Mackenzie reports.Simandou sits within a broader wave of African supply development, alongside emerging iron ore projects in Gabon, Congo and Algeria which, together, point to a more geographically diversified and increasingly Africa-centric supply landscape.Simandou’s rise also coincides with broader structural shifts in the global steelmaking market including industry consolidation, decarbonisation pathways and the growth of direct reduced iron (DRI) production.As steelmakers prioritise efficiency and emissions reduction, raw material quality is becoming increasingly central to competitiveness, according to Wood Mackenzie.“The strategic importance of high-grade iron ore in enabling lower-emissions steelmaking is becoming increasingly clear,” Mr Cachot said.“DRI and other emerging technologies remain highly sensitive to feedstock quality, reinforcing long-term demand for premium products.”
‘Liberation Day’ now a multi-billion-dollar liability
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‘Liberation Day’ now a multi-billion-dollar liability
Today marks one year since US President Donald Trump sent shockwaves across global economies with the imposition of the US Government’s “Liberation Day” tariffs.While Australian exports were hit with the baseline 10%, other US trading partners were hit harder — Canada was hit with 35% and Brazil a whopping 50%.A sweeping 25% tariff on steel and aluminium products and a 50% tariff to copper and copper-containing products was also applied on all US imports.Prime Minister Anthony Albanese said the tariffs were totally unwarranted."President Trump referred to reciprocal tariffs. A reciprocal tariff would be zero, not 10%," he said."The administration's tariffs have no basis in logic and they go against the basis of our two nation's partnership.“This is not the act of a friend."In February, after several importers lodged lawsuits claiming that President Trump exceeded his authority and subjected US trade policy to his whims, the US Supreme Court declared the tariff regime illegal. The court found that President Trump did not hold the power to impose tariffs on imported goods under the International Emergency Economic Powers Act (IEEPA).In December, the US Customs and Border Protection reported the amount of tariffs collected at risk of having to be refunded was US$133.5b.In early March, the US Court of International Trade (CIT) ordered the US Government to commence the refund process for the illegally obtained taxes.The total owed to Australian exporters is yet to be determined, but figures could be eye wateringly high.In 2025 Australian exports to the US totalled about $36.3b — with metals and minerals accounting for about half of that total — according to figures from the United Nations COMTRADE database.The US Customs and Border Protection agency is progressing a streamlined process for refunding the illegal tariff collections but has advised the new system could take up to ?45 days to review and process refund applications.In a filing with the US Court of International Trade, lodged on March 31, US Customs and Border Protection official Brandon Lord says development of a new refund claims portal ?system is now 60-85% complete.In his declaration, Mr Lord confirmed that more than 26,000 importers who paid US$120b in IEEPA tariffs were already registered to receive electronic refunds, though he did not provide a roll out date.Mr Lord also confirmed that the system, in its first phase, will only be capable of processing 63% of entries for which IEEPA duties were paid or have been deposited.Rio Tinto (ASX: RIO) recently advised that it had paid almost $1.45b in taxes to the US Government in 2025 due to additional tariffs and — though the percentage of those payments that fell under the IEEPA has not been specified — may be amongst claimants.Since the US Supreme Court’s ruling, the tariff landscape has shifted— but not disappeared.Invoked under Section 122 of the US Trade Act, the US Government has now implemented a new, and legally sound, 10% tariff. However, under this legislation, the tariff can stay in place for a maximum of 150 days.There is no denying the weaponisation of trade is affecting global markets, however, as the world faces ongoing supply chain disruptions, the extent to which it is reshaping the dynamics of global trade is yet to be determined.
Previous South32 executive to lead Perenti
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Previous South32 executive to lead Perenti
Recent South32 (ASX: S32) chief operating officer Vanessa Torres will succeed Mark Norwell as the managing director and chief executive of Perenti (ASX: PRN) this year.Dr Torres joined South32 in 2018 and held senior roles — including chief technology officer, chief technical officer and chief operating officer — and has more than 25 years’ experience in senior leadership roles.Prior to joining South32, she spent 11 years at BHP (ASX: BHP) in a range of senior executive roles across strategy and operations and held senior leadership roles at Vale in South and North America.Perenti board chair Diane Smith-Gander says the board’s decision was based on a rigorous recruitment process involving exceptional internal and external candidates with a focus on supporting our long-term growth ambitions.“I would first like to acknowledge Mark’s significant contribution to Perenti. Under his leadership, Perenti has delivered more than a four-fold revenue growth since he commenced in 2018 and achieved material improvements across all key financial metrics,” she said.“His genuine care for people has been a hallmark of his leadership, driving a strong focus on developing our people and progressing our journey to create safe and respectful workplaces.“On behalf of the board and the entire Perenti workforce, I would like to thank Mark for his leadership in the transformation of Perenti and for his continued support through the transition.“Vanessa is a highly accomplished executive with extensive operational and leadership experience across global mining operations, and she brings the ideal combination of strategic capability, operational excellence, industry insight and people focused leadership to the role.”Commenting on her appointment Dr Torres says she looks forward to working collaboratively with the board and management team to continue the development and delivery of the Perenti strategy to create enduring value and certainty for clients, people, communities and shareholders.“It is an honour to have been appointed as Perenti’s next managing director and chief executive at such an exciting time for the business and in a pivotal moment for the mining industry,” she said.Dr Torres will commence with Perenti on April 13 and will be appointed as the managing director and chief executive on June 1.Mr Norwell will remain with the company to provide transition support through June and into FY27.
Sugarbag Hill declared prescribed project
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Sugarbag Hill declared prescribed project
The Queensland Government has declared the Sugarbag Hill project in north Queensland a prescribed project to fast-track delivery.The $515 million ultra high purity quartz sand project is being developed by High Purity Quartz and is expected to support 600 jobs during construction and 140 ongoing jobs once operational.Ultra high purity quartz is an important material used to make products like semiconductors, specialised glass and equipment needed in advanced manufacturing.Further processing of the critical material is proposed at the Lansdown Eco-Industrial Precinct south of Townsville, with a pilot facility in Stuart and chemical storage at the Port of Townsville with high-quality quartz sand to also be exported through the port.High Purity Quartz chief executive Stuart Jones says the declaration provides certainty for the project.“This declaration allows us to progress project approvals more efficiently and with greater certainty as we move through the detailed feasibility study and engineering stage,” he said.“It recognises the importance of establishing a Queensland based supply of globally scarce ultrahigh purity quartz sand, which is critical for solar PV silicon wafer manufacturing.”Queensland Minister for Natural Resources and Mines Dale Last says the project will create hundreds of new jobs in the construction phase and ongoing operational jobs across the value chain.“With the Queensland resources common user facility and Graphinex’s battery anode hub just down the road, we’re committed to building sovereign capacity right across the critical minerals sector,” he said.“We’re serious about cutting red tape, driving faster approvals and delivering certainty to investors so they can get on with creating local jobs.”Subject to approvals, High Purity Quartz is targeting a final investment decision in early 2027 and commencement of construction in early 2028.
UQ ranked top five globally for mining engineering
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UQ ranked top five globally for mining engineering
The University of Queensland (UQ) has been ranked 5th in the world in the 2026 QS World University Rankings by Subject for mineral and mining engineering.The QS rankings assessed subject areas at more than 1,900 institutions worldwide, based on academic and employer reputation, research impact and international research collaboration.UQ’s top five ranking reflects the strength and breadth of its mining education, spanning undergraduate study, postgraduate coursework, higher degree research and professional development.Programs at UQ are designed in close partnership with industry to equip graduates and professionals with the skills needed to support safe, productive and sustainable mining operations.UQ School of Mechanical and Mining Engineering Professor Ross McAree says the ranking recognises the university’s strong commitment to sustainability and industry relevance in education and research.“This result reflects the way we design our mining education and research programs,” he said.“They are informed by industry and focused on delivering more productive and sustainable outcomes across the life of mine.“Our graduates and professionals are equipped to tackle today’s challenges, from decarbonisation and automation to safety, environmental performance and community outcomes.”In total, 17 UQ subjects were ranked in the world’s top 50, reinforcing the university’s role in developing the skilled workforce required to drive growth in priority disciplines for 2032 and beyond.UQ Sustainable Minerals Institute director Professor Rick Valneta says the ranking also reflected the impact of UQ’s research led approach to sustainable mining.“UQ integrates world leading expertise across mining, mineral processing, geology, environment, safety, social responsibility and mineral security to support a responsible supply of minerals,” he said.“This recognition highlights the importance of evidence-based solutions and strong collaboration with industry, governments and civil society as the sector transitions to more sustainable practices.”
Mining drives doubling electricity demand in South Australia
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Mining drives doubling electricity demand in South Australia
South Australia is on the verge of a ‘once-in-a-generation’ economic growth opportunity, underpinned by affordable, reliable and sustainable electricity, according to a report by ElectraNet.The 2026 Transmission Annual Planning Report (TAPR) shows that interest to connect to South Australia’s transmission network is at its highest level in decades, and attributes this to the strength of the state’s grid and renewable electricity generation.Peak electricity demand is forecast to double over the next 15 years, from 3.3GW currently to more than 6.5GW, according to TAPR figures.The 2026 TAPR shows increased connection demand is expected in greater Adelaide, the mid-north and south-east as a result of data centres and the AI boom, as well as defence industry development at the Osborne naval shipyard.In the Eyre Peninsula and Upper Spencer Gulf regions, growth will be driven by the mining and minerals sector, steel production reinvigoration at Whyalla and the Northern Water project.The Eyre Peninsula includes, and is close to, resources that are crucial in supporting this expected growth including high quality renewable energy sites.ElectraNet chief executive Simon Emms says the TAPR points to South Australia entering a period of economic growth with thousands of jobs being created, underpinned by the state’s world-leading renewable electricity system.“South Australia is facing a jobs boom as industries seek to access the State’s unique combination of valuable minerals and world-class wind and solar renewable energy,” he said.“As industries such as mining, steelmaking, defence and AI expand, the demand for electricity in the state is set to grow significantly.“We have the opportunity set the new global standard for a modern economy, where rapidly growing business and industry are supported by clean energy.“Timely investment in the transmission network will be the key to unlocking this economic growth across South Australia and the thousands of jobs that come with it.”Realising this enormous growth opportunity hinges on planning and enhancement of infrastructure to keep up with rapidly growing electricity demand.South Australia still has an abundance of untapped renewable energy potential in the north of the state to provide affordable, reliable and sustainable electricity supply to support this growth opportunity.“Transmission infrastructure will be vital to create an electricity superhighway, taking energy from the source to where it is needed, and managing the peaks and troughs of demand,” Mr Emms said.“So while South Australia has an exciting economic opportunity ahead, we must have the ability to take it.“It is vital that we get the planning right and that regulators and governing bodies continue to evolve with us as we tackle truly unique energy circumstances.”The TAPR highlights three proposed transmission projects that will be important to South Australia’s growth over the next 15 years.The Eyre Peninsula upgrade, anticipated between 2027 and 2028, will increase the transmission capacity by enabling the Cultana–Yadnarie lines to operate at 275kV. This project will be vital to mining and manufacturing growth in the region and will also unlock new renewable energy generation.The Northern Transmission project (NTx), which is currently in early planning stages, will extend the transmission network’s capability across the northern and eastern parts of South Australia to vastly increase network reliability.The South-East Expansion project aims to improve access to the transmission network and support future industrial growth such as timber processing, food manufacturing and biomass and wind energy generation.Having supported the state until now, traditional energy assets throughout the Adelaide metro region are being retired, including the Torrens Island Power Stations, and being rapidly replaced by batteries in areas to the north of Adelaide.The next two decades will see these trends continuing, supported by the South Australian Government’s renewable release areas, according to ElectraNet.
Rio backs Lifeline WA with $1.8m boost
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Rio backs Lifeline WA with $1.8m boost
Lifeline WA and Rio Tinto (ASX: RIO) have entered a new four year partnership to support the hundreds of Western Australian volunteers who answer calls from people in crisis.The partnership will direct $1.8m to the agency, with $1.2m dedicated to supporting the mental health and wellbeing of the 540 Lifeline WA volunteer crisis supporters.This marks the first time a corporate partner has directly funded Lifeline WA's crisis supporter wellbeing program, which employs four dedicated part-time wellbeing officers to provide one-on-one debriefs, weekly check-ins and access to mental health resources for crisis supporters.The program also provides wellbeing activities, podcasts and training materials tailored to the unique pressures of crisis line volunteering.The partnership will also support Lifeline WA to deliver mental health outreach and training in regional communities, schools and frontline services across the state, helping build practical skills that stay long after each visit.Lifeline WA chief executive Lorna MacGregor says training a crisis supporter is a significant investment of time and resources.“But more than that, these are people who carry a profound emotional load for the good of our community,” she said.“Rio Tinto has been with us through the training of our volunteers, and now they're with us in caring for them. That continuity of support is something we don't take for granted."Rio Tinto's support recognises that the mental health of those on the frontline of crisis care matters too. This funding gives us the capacity to better retain and care for the extraordinary volunteers who answer the call."Lifeline WA and Rio Tinto have partnered since 2024, with the company previously investing $860,000 over two years to fund the training of crisis supporters including 60 new volunteers trained in the last 12 months.Rio Tinto iron ore chief executive Matthew Holcz says crisis supporters offer compassion, stability and hope to people experiencing distress when they need it most.“They support thousands of Western Australians every year, but they also need support themselves,” he said.“That’s why our newest partnership with Lifeline WA is about helping sustain the people who sustain others.“Access to mental health support can be harder to come by in regional WA and for FIFO workers. This partnership is one of the ways we are making a difference.”The new partnership is a deliberate evolution from building a workforce to sustaining it.
WA resources sector award nominations now open
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WA resources sector award nominations now open
The WA Government has opened nominations for the 2026 Resource Sector Awards for Excellence.The program features two categories recognising innovation, strong environmental performance and meaningful community partnerships across the WA resources sector. The long-standing Golden Gecko Award celebrates leadership in environmental management, and the Community Partnership Resources Sector Award celebrates collaboration that delivers lasting benefits for local communities.Last year's winners demonstrated the range of positive impacts being delivered across the sector.BHP (ASX: BHP) and Child Australia were recognised for their Thriving Futures initiative, which supports childcare workforce development in Newman and Port Hedland.WA1 Resources and Tjamu Tjamu Aboriginal Corporation received the Emerging Community Partnership Award for improving remote access routes and creating employment pathways.In the Golden Gecko category, BHP was recognised for its native seed production work at Yandi, while BiSN was honoured for its environmentally focused well technology.WA Mines and Petroleum Minister David Michael says last year’s finalists and winners showed how innovation and genuine partnership can deliver real outcomes for WA."These awards once again provide an opportunity to highlight leadership across the sector and acknowledge the people and projects helping to shape WA's future,” he said.Entries are assessed on their individual merits, and multiple awards may be presented in each category.Nominations for the 2026 awards close on May 12 with winners to be announced at a ceremony in October.
Energy market shock expected to drive inflation
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Energy market shock expected to drive inflation
Australia’s economic outlook has shifted following escalation of conflict in the Middle East as rising energy costs are expected to push inflation higher than previously forecast, according to Commonwealth Bank economists.The Organisation for Economic Co-operation and Development (OECD) lifted its inflation forecast for Australia in 2026 to 4.1%, citing higher oil prices and renewed disruption to global energy markets.Commonwealth Bank Australia (CBA) expects inflation to rise further in the near term while economic growth slows as households and businesses face higher costs and tighter financial conditions.Commonwealth Bank Australian economics head Belinda Allen says the energy shock has complicated an already delicate economic balance.“Prior to the conflict, the Australian economy was operating above its supply capacity and inflation was proving stubborn,” she said.“The latest energy shock adds a new layer of complexity, lifting inflation further while also weighing on growth.“There is a wide range of possible outcomes from here.“What is clear is that higher energy prices are a headwind for the economy and both households and policymakers will need to navigate a more challenging environment.”Under CBA’s central oil price scenario, headline inflation is now expected to rise to about 5.4% by mid 2026 and trimmed mean inflation, the Reserve Bank of Australia’s preferred underlying measure, is forecast to peak at 3.8% before easing gradually as economic growth slows and labour market conditions soften.The most immediate impact is expected to come through fuel prices as retail petrol and diesel prices have already risen sharply and could increase further in coming months as global oil prices remain elevated.Beyond fuel, higher energy costs are expected to flow through to a wide range of goods and services, including transport and freight, as supply chain disruptions linked to shipping routes through the Middle East are also adding to pricing pressures.While inflation in Australia is expected to remain elevated in the near term, CBA economists expect it to moderate in 2027 as demand slows and unemployment rises.Business investment growth is also expected to be softer, though CBA assesses that the pipeline for business investment is less sensitive to these headwinds than households.However, softer economic conditions and higher oil prices are still expected to impact the profitability of many businesses, which will reduce the cashflow available for investment.Another risk is financial market stress increasing globally, which would make funding conditions in Australia for large projects more challenging and slow the rollout of projects, including within the resources sector.However, this outlook remains highly uncertain and will depend heavily on how the conflict evolves and how long energy prices remain high, CBA economists say.
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