The wet season waits for no one

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. Barrick interim group chief operating officer, president and executive officer Mark Hill comments on the performance. “Higher…

UGL to construct Stage 3 of Western Downs batteryThe CIMIC Group’s specialist engineering and services provider, UGL, has been selected by Neoen and Tesla to construct Stage 3 of the 305MV/1220MWh Western Downs battery in Queensland.This follows UGL’s successful delivery of Stage 1 and early completion of Stage 2 (270MW / 540MWh) in November.For Stage 3, UGL will install 312 Tesla Megapack 2XL units, along with high-voltage infrastructure, control and switchroom facilities, earthworks and footings. UGL will also provide testing and commissioning support to ensure seamless integration to the grid.Together, Stage 1 and Stage 2 provide 540MW/1080MWh of storage capacity. Once Stage 3 becomes operational, the battery will offer a combined total of 845MW/2.3GWh.ACS group and HOCHTIEF chief executive and CIMIC Group executive chairman Juan Santamaria comments on the major renewable energy storage project.“Stage 3 of the Western Downs Battery will add 305MW/1220MWh of storage capacity to Queensland’s energy network, building on the success of Stages 1 and 2 delivered by UGL,” he said.“This expansion strengthens grid reliability and supports the integration of renewable generation in one of Australia’s most important energy corridors.”UGL managing director Doug Moss comments on Stage 3.“Western Downs Battery Stage 3 will be our tenth battery installation project and our seventh in partnership with Neoen and Tesla,” he said.“As a leader in constructing and commissioning renewable energy assets and connecting them to the grid, we are helping to accelerate Australia’s energy transition.”Construction on Western Downs Battery Stage 3 will commence February 2026 with completion expected in the summer of 2027/28.

Vaughan Harris has just become the first Tjiwarl community member to complete an apprenticeship with Liontown (ASX: LTR) at its Kathleen Valley lithium operations.Mr Harris grew up in Leonora and completed his final years of high school at the Cunderdin College of Agriculture. He started his electrical trade at 23 which led him to complete his apprenticeship.Mr Harris reflects on the historic moment in the Liontown partnership with the Tjiwarl community.“Being the first Tjiwarl apprentice to complete an apprenticeship here at Liontown feels exciting,” he said.“I hope it shows other Tjiwarl members, and even non-members, that it’s absolutely possible to complete an apprenticeship with Liontown’s support and the support of the community.”Mr Harris will relocate to Karratha with his wife, Cate, and daughter Aurora.“I hope to keep expanding my electrical knowledge, taking up extra courses and training,” he said.“When I get to Karratha, I’m hoping to start out in the rail side of things, which interests me most, but whatever I end up doing will likely be new to me, and that’s exciting in itself.”Liontown continues to partner closely with Tjiwarl to provide meaningful employment and training opportunities.

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 underperformance placing increased pressure on the industry.   This…