Speed Queen

ONE of NSW’s largest underground coal producers has announced it will cut up to 120 positions from its seven mine sites across the state, due to ongoing tough market conditions. In late October, Centennial Coal stated the decision was based on record-high production costs, a weak US dollar export thermal coal price and a “stubbornly high” Australian dollar. Centennial has placed two of its mines on care and maintenance in the past 12 months, in an attempt to stem its production costs and to raise productivity. While some improvements had been achieved, gloomy market conditions were proving too strong against business profitability, the company stated. “Unfortunately, as there are few signs of an immediate improvement, and following the conclusion of...

Newmont Corporation (ASX: NEM) has reported record quarterly free cash flow of US$3.1b and net income of US$3.3b for Q1 2026.

The Federal Government is investing $20m in a new strategy to diversity exports and find new markets for Australia’s resources and technology. This comes a day after the announcement of an additional $190m in a new five-year “Our North, Our Future: 2021-2026” plan to grow jobs, digital connectivity and businesses throughout Australia’s north, as well as a further $100m to extend the Junior Minerals Exploration Inventive (JMEI) for four more years. The Global Resources Strategy, launched by Federal Resources, Water and Norther Territory Minister Keith Pitt in Townsville, aims to secure long-term benefits for the sectors and the Australian economy. Federal Resources, Water and Northern Australia Minister Keith Pitt said the strategy will help Australia build resilience to trade shocks...

Federal Government to invest $330m to reduce emissions The Federal Government will co-invest $330m to reduce industrial emissions and support the ongoing domestic production of key inputs into clean energy projects. Under the Powering the Regions Fund, nine projects will receive a portion of the funding with the projects to cut yearly emissions by 830kt – the same as taking over a quarter of a million cars off Australian roads. The funding includes $197m to maintain Australia’s domestic manufacturing capability in cement and aluminium. Grants include, $94m to Queensland Alumina to reduce energy use, $52.9m to Cement Australia to reduce coal consumption...