Rio-led JV greenlights $294m study

Chalice Mining’s (ASX: CHN) pre-feasibility study has been completed for the Gonneville palladium-nickel-copper project in WA, confirming a 23-year open pit phase. 

PLS weighs Ngungaju restart as revenue jumps 49% PLS (ASX: PLS) has flagged a potential restart of its 200ktpa Ngungaju processing plant as recovering spodumene prices helped net a Q2 revenue of $373m.PLS says it has completed early operational readiness works to position Ngungaju for a restart within about four months of a decision, with the board expected to consider whether to proceed during the March quarter.The company reported spodumene concentrate production of 208kt for the quarter while sales increased 8% to 232kt.Operationally, PLS said Q2 performance at the Pilgangoora operation was in line with expectations, reflecting continued mining efficiencies and a deliberate strategy to increase contact ore feed to maximise utilisation of ore sorting capability.Total material mined rose to 8.1mt from 7.7mt, while total ore mined fell to 1.5mt from 1.7mt as activity shifted toward planned waste stripping to support future production.Lithium recoveries remained strong at 76%, despite the intentional increase of contact ore processed during the quarter to maximise the sorter performance.The P2000 feasibility study, which is assessing the potential expansion of the Pilgangoora operation’s production capacity to approximately 2mtpa, continues to progress.In light of recent improvements in market conditions, the timeline for P2000 study outcomes is under review, with PLS planning to provide an update in the March quarter.

Lynas Rare Earths (ASX: LYC) has signed a binding letter of intent with the US Department of War to finalise a four-year rare earth oxide offtake agreement. Under the agreement, Lynas will allocate $137m worth of rare earth oxides to support US supply chain resilience objectives with an established floor price for supply of US$110/kg for neodymium and praseodymium. This offtake agreement follows the mutual decision to modify the original agreement between Lynas and the DoW based on significant uncertainty as to whether the construction of the heavy rare earth (HRE) processing facility at Seadrift, Texas would proceed. Lynas chief executive and managing director Amanda Lacaze says, through the agreement, the US Defense Industrial Base will continue to have access to rare earth oxides essential for modern manufacturing. “We thank the US Government for working with Lynas to reach this mutually beneficial arrangement and look forward to finalising the definitive agreement in due course and continuing our productive engagement," she said. Lynas and the DoW continue to discuss further supply arrangement for HRE oxides.  Last week, Lynas extended its rare earths supply deal with Japan Australia Rare Earths (JARE) through to 2038 and established a floor of US$110/kg for neodymium and praseodymium — identical to that set in the DoW agreement.  As the world’s only significant producer of separated rare earth materials outside of China, Lynas is strategically important to diversifying the global supply of rare earths. This significance has been bolstered by the company’s H1 FY26 results in which the company reported a 63% rise in revenue for $413.7m — Lynas’ best first-half profit in three years.  Lynas saw the average price of all its rare earth products rose to $96/kg during the half, a trend that continued in 2026 with neodymium and praseodymium reaching a domestic price of $157 /kg in China. 

South Australia is on the verge of a ‘once-in-a-generation’ economic growth opportunity, underpinned by affordable, reliable and sustainable electricity, according to a report by ElectraNet.The 2026 Transmission Annual Planning Report (TAPR) shows that interest to connect to South Australia’s transmission network is at its highest level in decades, and attributes this to the strength of the state’s grid and renewable electricity generation.Peak electricity demand is forecast to double over the next 15 years, from 3.3GW currently to more than 6.5GW, according to TAPR figures.The 2026 TAPR shows increased connection demand is expected in greater Adelaide, the mid-north and south-east as a result of data centres and the AI boom, as well as defence industry development at the Osborne naval shipyard.In the Eyre Peninsula and Upper Spencer Gulf regions, growth will be driven by the mining and minerals sector, steel production reinvigoration at Whyalla and the Northern Water project.The Eyre Peninsula includes, and is close to, resources that are crucial in supporting this expected growth including high quality renewable energy sites.ElectraNet chief executive Simon Emms says the TAPR points to South Australia entering a period of economic growth with thousands of jobs being created, underpinned by the state’s world-leading renewable electricity system.“South Australia is facing a jobs boom as industries seek to access the State’s unique combination of valuable minerals and world-class wind and solar renewable energy,” he said.“As industries such as mining, steelmaking, defence and AI expand, the demand for electricity in the state is set to grow significantly.“We have the opportunity set the new global standard for a modern economy, where rapidly growing business and industry are supported by clean energy.“Timely investment in the transmission network will be the key to unlocking this economic growth across South Australia and the thousands of jobs that come with it.”Realising this enormous growth opportunity hinges on planning and enhancement of infrastructure to keep up with rapidly growing electricity demand.South Australia still has an abundance of untapped renewable energy potential in the north of the state to provide affordable, reliable and sustainable electricity supply to support this growth opportunity.“Transmission infrastructure will be vital to create an electricity superhighway, taking energy from the source to where it is needed, and managing the peaks and troughs of demand,” Mr Emms said.“So while South Australia has an exciting economic opportunity ahead, we must have the ability to take it.“It is vital that we get the planning right and that regulators and governing bodies continue to evolve with us as we tackle truly unique energy circumstances.”The TAPR highlights three proposed transmission projects that will be important to South Australia’s growth over the next 15 years.The Eyre Peninsula upgrade, anticipated between 2027 and 2028, will increase the transmission capacity by enabling the Cultana–Yadnarie lines to operate at 275kV. This project will be vital to mining and manufacturing growth in the region and will also unlock new renewable energy generation.The Northern Transmission project (NTx), which is currently in early planning stages, will extend the transmission network’s capability across the northern and eastern parts of South Australia to vastly increase network reliability.The South-East Expansion project aims to improve access to the transmission network and support future industrial growth such as timber processing, food manufacturing and biomass and wind energy generation.Having supported the state until now, traditional energy assets throughout the Adelaide metro region are being retired, including the Torrens Island Power Stations, and being rapidly replaced by batteries in areas to the north of Adelaide.The next two decades will see these trends continuing, supported by the South Australian Government’s renewable release areas, according to ElectraNet.