Hormuz crisis flares as US moves to defensive position

Australian miner, American Rare Earths (ASX:ARR) has joined a US Department of Energy project partner in developing rare earths supply chain security for the US. The company’s wholly owned subsidiary Western Rare Earths Corp. has been named a Team Member of Critical Materials Institute (CMI); a U.S. Department of Energy (DOE) Energy Innovation Hub. The company’s assets have been identified as having the potential to be some of the largest rare earth deposits in the United States. The agreement means Western Rare Earths now sits alongside the world’s second-largest metals producer Rio Tinto on the highly esteemed Critical Materials Institute (CMI) Team Members list, with both companies the only rare earths miners in the select group. Other members include leading universities, national laboratories and other…

China Mineral Resources Group (CMRG) has reportedly told several Chinese steel mills they can purchase some BHP (ASX: BHP) cargoes, relaxing restrictions that have been in place since September 2025.The state-backed iron ore buyer is reportedly allowing domestic plants to resume bidding for some BHP shipments denominated in US dollars, according to Bloomberg.The move follows a recent trip to China by BHP chief executive Mike Henry and incoming chief executive Brandon Craig where they met with executives at China Baowu, the world’s largest steel maker.“We have strong relationships with copper producers and steelmakers in China,” Mr Craig said in a LinkedIn post.“ produce around 130mt of steel a year… the reliable supply of quality Pilbara iron ore has made a big contribution to this remarkable growth story, and it will continue to do so in the years ahead.”CMRG was established in 2022 to shift the power dynamics between China and iron ore majors, including BHP, with the Chinese Government arguing that iron ore unfairly favoured the dollar-denominated seaborne market.Commercial negotiations between BHP and CMRG have been ongoing since September as CMRG continues to place pressure on BHP to accept new price-setting mechanisms. After BHP reportedly rejected the term, CMRG banned the import of Jimblebar fines grade before enforcing broader restrictions on all dollar-denominated cargoes.

POSCO Holdings will acquire 30% of Mineral Resources’ (ASX: MIN) operational lithium business under a new incorporated joint venture, LithCo. MinRes expects the transaction to be completed in H1 FY27.MinRes managing director Chris Ellison says the company is pleased to execute the key transaction documents with POSCO Holdings.  “We look forward to working with POSCO Holdings to finalise all outstanding matters and bring this to completion as soon as possible,” he said. “This partnership continues to represent a landmark investment by a major Korean company into Australian lithium, and we remain committed to ensuring that Wodgina and Mt Marion reach their full potential as two of the world's best hard rock lithium assets." POSCO Holdings president Ju-Tae Lee comments on the partnership. “This partnership is highly meaningful in that it combines Mineral Resources’ mining and operational capabilities with POSCO Holdings’ downstream processing expertise, contributing to the stabilisation of the global battery materials supply chain,” he said. “Based on the strong mutual trust between the two companies, we will continue to strengthen our long-term partnership in the global lithium market.”