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Rio Tinto (ASX: RIO) and China’s State Power Investment Corporation (SPIC) Qiyuan have launched a trial of battery swap electric haul truck technology at the copper mine in Mongolia.  The trial is Rio Tinto’s first use of battery swap electric haul trucks in surface mining operations, a major step towards developing the cost-effective technology and operational learnings required to reduce emissions from mining haulage fleets — one of the largest contributors to the company’s Scope 1 and 2 carbon footprint.  Battery swapping technology allows the battery of an electric mining truck to be replaced at a battery swap station in less than seven minutes, without the need to charge the vehicle at a fixed charging facility. This minimises downtime and…

Larvotto Resources (ASX: LRV) has rejected US Antimony Corporation’s (USAC) takeover bid after the board unanimously agreed the offer materially undervalued the company.  USAC lodged the offer, valued at $723m, on October 20 seeking to exchange six shares in USAC for every 100 shares in Larvotto. This would make the value of the deal dependant on daily market performance of USAC shares at the time.  Larvotto Resources non-executive chair Mark Tomlinson says the board is confident that the company’s value and long-term growth potential significantly exceeds the indicative value of the offer.  “With Hillgrove set to become the next major Western supplier of antimony, the project holds significant strategic value as governments and industries seek to secure diversified supply chains for…

Oyu Tolgoi LLC, 66% owned by Rio Tinto (ASX: RIO), has sought support from law enforcement for an internal investigation into allegations of corruption and unethical conduct at the copper operations in Mongolia.   Olyu Tolgoi LLC confirmed an investigation is underway, reaffirming the company’s strict zero-tolerance policy toward corruption and unethical conduct.   Rio Tinto declined to comment.  “We are aware of allegations involving procurement-related activities and conducting a comprehensive internal investigation and have sought cooperation of law enforcement authorities,” Oyu Tolgoi LLC said in a statement.  “As investigation is ongoing, we are unable to provide further comment at this time.”  The investigation is not the first challenge Rio has faced at its Mongolian copper operations.   Earlier this…

The latest Australia’s Energy Commodity Resources (AECR) publication shows the status of Australia’s energy resources against a backdrop of accelerating global decarbonisation, technological innovation and shifting patterns of energy demand and trade. In 2023, global energy demand continued its long-term growth, with primary energy consumption increasing by 2% with fossil fuel consumption accounting for 60% of that increase and experiencing a 4% increase overall, according to the AECR. The AECR, published by Geoscience Australia, shows that in 2023 Australia’s energy exports were more than seven times its imports, with 80% of its produced energy being exported. But as decarbonisation accelerates and technology reshapes the energy landscape, Australia is not standing still. AECR emphasises that Australia is an active nation in…

Northern Star (ASX: NST) expects a 20,000oz impact to its Q2 FY26 sales due to operational disruptions at Jundee and South Kalgoorlie early in the quarter.  The miner says the affected volumes will be processed over the remainder of FY26.  In Q1, gold sold totalled 381,000oz with all in sustaining costs of $2,522/oz.  Northern Star has maintained its FY26 guidance of 1.7moz-1.85moz gold sold with all in sustaining costs in the range of $2,300-2,700/oz.  Northern Star managing director Stuart Tonkin says Q1 delivered a mixed performance across the portfolio.  “Our Kalgoorlie Production Centre performed well, led by KCGM, where we maintained elevated production and development rates,” he said.  “Overall, costs for the quarter were better than forecast reflecting our continued…

The Reserve Bank of Australia (RBA) has outlined an uncertain outlook for Australia’s critical minerals industry that depends on policy environments and investment levels amidst the global energy transition. The RBA research paper, The global energy transition and critical minerals, reports the magnitude of both long-term global demand projections and Australian production remains subject to considerable uncertainty with global price declines halting production and delaying investment plans such that growth is likely to remain subdued. However, the report found that critical minerals production in Australia, if net zero emissions targets are reached, could increase by 70% by 2050, compared to 2024 production rates, if facilitated by correct policy and investment growth. Developments in global demand for critical minerals, which will…

Rio Tinto (ASX: RIO) is considering an asset-for-equity swap with state-owned Aluminum Corp of China (Chinalco) that would reduce the miner’s stake in Rio, Reuters reported, citing three people familiar with the matter. Sources told Reuters that Chinalco would exchange a portion of its holdings for stakes in some of Rio Tinto’s mining assets in a move to free up Rio to resume share buybacks and pursue new strategic deals. Rio Tinto declined to comment on the report. The potential swap may aim to resolve governance constraints and complex ownership structures that have limited Rio’s flexibility since Chinalco acquired shares worth 15% of the total company 2008. Chinalco’s acquisition was subject to regulatory restrictions imposed by the Federal Government and…

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…

Astron’s (ASX: ATR) Donald rare earth and mineral sands project, located in the Murray Basin, Victoria, has been recognised by the Federal Government for its national importance.  The project is one of the world’s most significant rare earth resources and is expected to be the fourth-largest rare earth mine outside of China once operational.   Astron is developing the project as a joint venture with US-based critical minerals company Energy Fuels.  The companies have also received a conditional letter of support from Export Finance Australia for a project financing facility, representing a major milestone in progressing funding initiatives.  The shovel-ready project is one of Australia’s most advanced critical mineral projects, targeting the production of rare earth elements (REEs), which will be…

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…