Rio beats estimates despite China pressure

BHP cuts 750 Queensland coal jobs BHP (ASX: BHP) and Mitsubishi, as BHP Mitsubishi Alliance’s (BMA), will suspend operations at the jointly owned Saraji South coal mine with the operation being place in care and maintenance in November 2025. The companies attributed the closure to consistently weak metallurgical coal prices and the impact of the Queensland Government’s coal royalties — a scheme introduced in 2022 when coal prices were significantly higher. BMA president Adam Lancey says the Queensland coal industry is approaching a crisis point. “As joint owners of BMA, BHP and Mitsubishi do not want to see operations paused or...

Federal Government supercharges battery innovation The Federal Government is investing $25m in Melbourne-based company Relectrify to fast-track the roll-out of its world-first battery energy storage system, the AC1. This breakthrough battery technology has the potential to transform energy storage – supporting the transition to a more flexible, low emissions grid as, unlike conventional batteries, the AC1 can generate grid-ready AC power directly from battery cells, without the need for an inverter. This dramatically decreases costs, reduces battery degradation and helps deliver more reliable, affordable energy as part of the Federal Government's efforts to...

Westgold awards Barminco $200m contract Perenti’s (ASX: PRN) underground mining subsidiary Barminco has signed a three-year contract with Westgold Resources (ASX: WGX) for works at its WA based Great Fingall gold mine. The scope of works will cover mine development, production and all associated underground mining services at the site near Cue, WA. Works are set to commence next month and the contract also includes an optional 12-month extension. Perenti managing director and chief executive Mark Norwell says the company is excited to be partnering with Westgold...