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Barrick boosts dividends after record quarter Barrick Mining raised its dividend and buyback program following a stronger profit estimate than expected in Q3 CY25. The miner increased its share buyback program by $765.67m (US$500m) to $2.3b (US$1.5b). This comes off the back of a tumultuous year for Barrick with the $1.53b (US$1b) write-off of its Loulo-Gounkoto gold mine in Mali and the exit of chief executive Mark Bristow earlier this year. Despite the ongoing dispute, the miner generated $6.28b (US$4.1b) in revenue, as well as a record $3.68b (US$2.4b) in operating cash flow backed by surging gold prices. Barrick produced 829,000oz of gold, down from 943,000oz the year prior....

ASIC sues AVZ Minerals for misleading investors The Australian Securities and Investment Commission (ASIC) has filed proceedings against AVZ Minerals for failing to disclose critical market information about its lithium project in the Democratic Republic of the Congo (DRC). In its filling to the Federal Court today, ASIC alleges the suspended WA mineral exploration company “breached continuous disclosure obligations and engaged in misleading and deceptive conduct by failing to announce an escalating legal dispute”. AVZ’s flagship Manono lithium project in the DRC had faced a series of ongoing governance challenges with rival miners and stakeholders but did...

Stellantis drops Australian nickel deal due to market concerns The NiWest project is one of Australia’s highest-grade nickel-cobalt projects.   Stellantis will terminate its supply deal for battery-grade nickel and cobalt from Alliance Nickel’s (ASX: AXN) NiWest project, effective December 3.  Stellantis cited challenging nickel market conditions and associated project financing constraints as the cause of the termination.  The initial agreement signed in 2023, saw Stellantis buying 170,000t of nickel sulphate and 12,000t of cobalt sulphate, representing about 40% of NiWest’s predicted output over five years.   The past two years have seen the global nickel market take a hit due to a surge in supply from lower-cost countries like Indonesia coming online.  Currently, nickel is at a 7-week low with the...

Queensland coal exports boosted by sustainable energy deal Cleanco, a Queensland Government-owned energy provider, has made a deal with rail freight operator Aurizon to deliver affordable and reliable renewable energy to the state’s coal export industry. Aurizon operates Australia’s largest electrified rail freight system, the Central Queensland coal network (CQCN), and by securing renewable energy from CleanCo it can continue operating this critical infrastructure for export industries and local communities, while lowering emissions. Under the deal, CleanCo will supply Aurizon with renewable energy from the MacIntyre wind farm in the Western Downs, the Kaban wind farm in Far North Queensland and the Woolooga solar farm north of Brisbane. Queensland Treasurer and Energy Minister David Janetzki says the agreement demonstrates how state-owned energy suppliers are directly supporting...

ARENA and Fortescue drive renewable energy innovation The Australian Renewable Energy Agency (ARENA) is providing $45m in funding for the development of a Pilbara solar innovation hub with Fortescue (ASX: FMG). The funding, from the advancing renewables program, will facilitate a first-of-its-kind initiative, operating across Fortescue’s growing renewable energy portfolio, to trial emerging technologies and reduce the cost of renewable energy generation. Through the hub, Fortescue will select and test a suite of new technologies aimed at improving safety, reducing costs and accelerating large-scale solar deployment including automation, advanced materials and...

WA Government prioritises locally made green steel The WA Government has opened an expression of interest (EoI) for local green steel manufacturers to supply major government projects.  Exporting green iron precursors to green steel is a major opportunity for WA to add value to its raw iron ore exports and procuring green steel for government projects provides an additional opportunity to develop a locally manufactured green steel recycling industry. As part of new, soon-to-be-introduced local sourcing requirements, the government will explicitly preference WA-made green steel.  To support this, the government will also be publishing a WA Industry Participation Strategy (WAIPS) addendum for...

Indigenous procurement key to mining’s future The Minerals Council of Australia (MCA) has called on Indigenous businesses and governments to consider equity frameworks alongside procurement frameworks. At the annual Aboriginal Enterprises in Mining, Energy and Exploration (AEMEE) conference in Darwin, Northern Territory, Indigenous ownership, equity and intergenerational prosperity were highlighted as integral to the resources sector’s future. According to the MCA, in FY25, total reportable Indigenous-business procurement reached $5.83b across Australia and, of that, the mining sector alone accounted for about $1.64b or 28%. MCA Indigenous partnerships and communities principal adviser Matt Denyer says the industry is at a reform crossroads. “We have only one Indigenous-led mine, no Indigenous-owned minerals processing facilities and no Indigenous capital funds capturing meaningful shares of that value,” he said....

Green iron: the $1b disconnect As Australia looks to grow its green iron industry, the Institute for Energy Economics and Financial Analysis (IEEFA) has warned the country heed lessons from green iron efforts in the US and Europe. The IEEFA reported governments in Europe and the US issued billions in capital grants to low-emissions steel projects only for several to be cancelled or delayed in its study, How to spend a billion dollars: Lessons from overseas for Australia’s green iron ambitions. IEEFA’s analysis...

Horseshoe Metals confirms copper potential Horseshoe Metals (ASX: HOR) confirmed shallow copper mineralisation in the Motters zone at its Horseshoe Lights project in northern WA. Assay results from the company’s ongoing drilling program have confirmed the continuity and thickness of oxide mineralisation extending from the surface into multiple primary copper mineralisation zones. The company is nearing completion of its phase one infill reverse circulation (RC) drilling at the northern end of the Motters zone and plans to commence a phase two program to test the main zone’s northern and southern extensions. Horseshoe reported in early October that it...