Australia’s largest aluminium smelter to remain open beyond 2028

Alcoa doubles no-mining zoneAlcoa Australia (ASX: AAI) will expand its Mining Avoidance Zone (MAZ) around Dwellingup to 26,000ha, equivalent to the size of about 860 Optus stadiums.The expanded MAZ is adjacent to several designated conservation areas, including sections of old growth forest which will never be mined.The expanded area now includes part of Lane Poole Reserve, Recreational tracks and trails including sections of the Munda Biddi Trail, Bibbulmun Track and Nyingarn Bidi Loop and a new zone around the Inglehope community east of Dwellingup.Alcoa Australia regulatory approvals director Kane Moyle says the move shows Alcoa is listening and responding to community feedback.“The decision follows environmental studies and extensive community consultation,” he said.“We are committed to engaging with the community to find ways to minimise impacts and protect the cultural values and sense of place that makes Dwellingup special.“We know these areas are treasured by the local community and visitors alike. We respect the community’s expectation that these forest areas and trails remain part of our natural heritage for generations to come.“We are really pleased we can offer increased certainty around their protection as part of our broader commitment to balance critical resources needs with environmental and social values.”This expansion follows Alcoa’s November withdrawal of around 47,000ha from its proposed exploration footprint in the Perth Hills.Alcoa says that while the new MAZ includes areas of mineral prospectivity, there is no immediate financial impact from the Dwellingup no mining commitment.

The Rhodes Ridge Joint Venture has approved a $294m (US$191m) feasibility study to progress the first stage of the Rhodes Ridge project.

Liontown (ASX: LTR) lifted H1 revenue to $207.5m as the underground ramp-up at Kathleen Valley drove a 106% surge in sales volumes.Kathleen Valley’s 1mtpa run rate was delivered on schedule, with Liontown targeting 1.5mtpa by the end of March.Liontown managing director and chief executive Tony Ottaviano says Kathleen Valley is now a 100% underground operation.“We have delivered a 1mtpa underground run-rate on schedule, sold 190,000t of concentrate across ten shipments and more than doubled revenue period to period,” he said.“The underground ramp-up is on track and we expect the second half to be materially stronger as volumes, recoveries and pricing all continue to improve.”Kathleen Valley was still ramping up in H1 with AISC of $1,179/dmt weighing on margins, although Liontown expects unit costs and cash generation to improve in H2.The miner reported an average realised spodumene price of US$888/dmt, with an encouraging price signal for Liontown coming out of its November 2025 Metalshub spot auction, which cleared at US$1,254/dmt for shipment in January 2026.Liontown says spodumene prices were strengthening into CY26 and expects cash generation to improve in H2.“The balance sheet has been reset. Pro forma gearing (excluding leases) has dropped from 48% to 22% and we had $390m in cash at 31 December 2025,” Mr Ottaviano said.“This provides us with a strong financial foundation to complete the ramp-up, progress the 4mtpa expansion study and continue to grow the company to its full potential.“We are one of a small number of producers globally that can bring additional lithium tonnes to market quickly through brownfield expansion of an operating asset. The expansion study is underway and we are advancing critical path procurement now."Liontown posted a statutory net loss of $184m, including $104.4m loss on the LGES convertible note primarily driven by the company’s share price increasing from $.70 to $1.575 over the period.Liontown said the note converted to equity in February, with an estimated $58m gain expected to be recognised on conversion.

Fortescue (ASX: FMG) expects to save US$100m in fossil fuel costs next year as it fast-tracks its delivery of a fully integrated green energy grid. Unlike other large renewable hubs, which feed intermittently into national or other power systems, Fortescue’s off-grid system is expected to be the largest of its kind dedicated to decarbonising major industry. Fortescue anticipates the 290MW of installed renewable capacity to meet the fixed energy requirements of its ore processing facilities, enabling daytime “green processing” across its Pilbara operations, by early 2027. The system is expected to ramp up to power all of Fortescue’s operations for 24-hour periods completely without fossil fuels by the end of 2027 — well ahead of the companies previous Real Zero by 2030 target. Fortescue is expecting full completion of its Pilbara green grid by the end of 2028, which includes 1.2GW of solar capacity, more than 600MW of wind generation and 4-5GWh of battery energy storage. Fortescue says the deployment of its accelerated green grid infrastructure timeline has commenced within its approved decarbonisation budget.  At the completion of its decarbonisation program, Fortescue expects to demonstrate that eliminating fossil fuels is not only achievable but economically superior by achieving a further reduction in C1 unit costs of at least US$2 - 4/wmt. Fortescue sees a clear pathway to expand its green energy system by a further approximately 2GW of power generation capacity, firmed with 4GWh of advanced batteries. This would be enabled by Fortescue’s proprietary know-how, patented technologies and exclusively developed AI, and is expected to be delivered for less than US$2.5b.  The company anticipates this capacity could be progressively delivered over an 18- month timeframe — an unprecedented delivery of firmed energy generation in speed to market, capital costs and operating costs. The company has also marked another major operation milestone with the shipment of its 2.5 billionth tonne of iron ore.