Yesterday
Miners hail $17.6b in tax credits - but BHP nickel still on death row
Critical minerals sector welcomes $17.6 billion in tax credit support, but it may be too little, too late to save BHP’s nickel business and 3000 jobs.
China’s biggest mine on Aussie soil makes $820m profit
Chinese conglomerate CITIC made a profit of almost $820 million on magnetite operations in WA that it says are under threat because billionaire Clive Palmer refuses to hand over more land.
Miners hope for budget tax credits
Lithium and nickel miners who lobbied for tax breaks are set to be among the big budget winners as the Albanese government tries to shore up its ‘made in Australia’ plans.
This Month
Rio investigates latest iron ore train derailment
Rio Tinto’s driverless trains are under scrutiny after the third derailment in 11 months at iron ore operations in WA.
Fortescue, Woodside find common ground on green hydrogen
Andrew Forrest has been one of the oil and gas giant’s biggest critics. The two are on the same page about US tax credits issues holding up renewable projects.
BHP’s Anglo American bid clouds Rinehart-backed potash project
The miner had been in talks about selling a big stake in the fertiliser development amid a plunge in prices linked to higher exports from Russia and Belarus.
WA taps Albanese for $200m critical minerals hub
WA has earmarked land near where Alcoa is closing its alumina refinery and a BHP nickel refinery is hanging by a thread for a critical minerals processing hub it wants the Albanese government to co-fund.
WA Budget Winners and Losers
Households and prospective home buyers are expected to benefit from new spending measures, while there is no additional funding for farmers, and still no changes to the state’s payroll tax system.
- Updated
Iluka boss calls out China’s infiltration of rare earths in Australia
Tom O’Leary says China is trying to extend its global dominance in rare earths by controlling assets in Australia and rigging prices.
- Updated
Louis Dreyfus fires back at Olam in takeover battle for Namoi Cotton
The French agribusiness has struck another blow in the battle with its Singaporean competitor for control of Namoi Cotton.
Shaw and Partners boss says ‘fed-up’ Morgan Stanley brokers walked
“Heavy-handed” Morgan Stanley’s loss is Shaw’s gain, says co-CEO Earl Evans, who now manages $5 billion in WA wealth alone.
GrainCorp profit downgrade casts doubt over earnings target
GrainCorp boss Robert Spurway is expected to face a grilling over the company’s through-the-cycle guidance after a downgrade to 2023-24 earnings.
This BHP old boy thinks copper and rare earths prices will spike
Arafura Rare Earths boss Darryl Cuzzubbo says higher prices are inevitable for two commodities vital to the energy transition.
Backers of takeover target Austal want Hanwha in the race
Austal shareholders say the opening shots in takeover battle for the defence ship builder have fallen well short of the mark, but granting due diligence would be a start.
Forrest accuses US of sacrificing green dream to fossil fuel lobby
Fortescue founder Andrew Forrest unleashed on the US government over a threat to tax credits that underpin an $836 million green hydrogen project in Arizona.
Takeover battle for Namoi Cotton heats up with fresh bid
Singapore-based group Olam has moved to trump Louis Dreyfus’ latest takeover offer for the Australian business.
- Exclusive
- Foreign relations
‘No concerns’ with South Korean takeover bid for Austal: Marles
Defence Minister Richard Marles has given a fillip to Hanwha’s bid to buy Perth shipbuilder Austal, despite the deal raising security concerns.
MinRes in row over lithium processing hub
Poseidon Nickel, worth $22 million, has mounted a David versus Goliath legal battle with $14.1 billion MinRes over assets in the Western Australian Goldfields.
April
IGO says criticism unfair after talk of ‘incredibly opportunistic’ deal
West Australian lithium and nickel miner stands by its ties with Chinese partner Tianqi after the latter ordered a huge shipment this week at a “favourable” price.
Nickel miner axes 530 jobs as pressure builds for budget bailout
Resources Minister Madeleine King says government alone cannot solve nickel industry woes as job losses near 2000 since December.
