Northern Star slashes guidance as sales take a hit

Alcoa acquires Alumina Alcoa Corporation (ASX: AAI) has completed its acquisition of Alumina, cementing itself as a leading pure play, upstream aluminium company. Alcoa president and chief executive William F. Oplinger says the company is proud to announce the completion of its first major acquisition. “The acquisition of Alumina strengthens Alcoa's position as one of the world’s largest bauxite and alumina producers and is expected to result in long-term value creation from greater financial and operational flexibility,” he said. “I want to thank both the Alcoa and Alumina teams,...

South Australia’s resource royalties race past records Surging prices for South Australia’s in-demand mineral resources have delivered bumper royalty receipts for FY24. Royalty receipts for FY24 totalled a record $422.5m — a $43.3m increase over FY23's revenue of $379.2m, representing a year-to-year increase of around 11%. South Australia benefited from strong growth in prices for copper, gold and uranium. Copper is critical for electrification, and global demand is forecast to outstrip supply in coming years. This represents a significant opportunity for South Australia, which is home to 69% of the nation’s copper resources. In the 12 months to September 2024, refined copper and copper products represented...

WA rolls out new Industry Reference Group A new Industry Reference Group (IRG) will provide advice to government on the development of the Western Trade Coast (WTC) as Perth's premier strategic industrial area continues to grow. The group will inform the delivery of common-user infrastructure in the region and consider industry needs in government policy and decision-making. The Western Trade Coast — which covers the Kwinana Industrial Area, Rockingham Industry Zone, Latitude 32 General Industrial Area and Australian Marine Complex —contributes $15b to the WA economy each year and supports...