Mining

There’s only one broad labour market group that can afford the typical $1 million house. Here’s why the housing crisis could spark something else underground.

Andrew and Nicola Forrest will bank about $690m after Fortescue boosted its interim dividend on the back of increased Pilbara iron ore earnings.

Australia’s biggest oil and gas group on Tuesday reported a 24 per cent fall in full-year earnings to $US2.72 billion, bettering market expectations.

Share market investors are buying miners to profit from rising commodity prices and escape selling in technology stocks linked to AI disruption.

Steady iron ore prices, a lithium revival and a few favourable tax events have come in clutch for Mineral Resources as the Chris Ellison-helmed miner tries to nurse its balance sheet, and image, to full health.

Rio Tinto is throwing the kitchen sink at securing more copper, with 85 per cent of its exploration budget now geared towards the coveted red metal.

Copper is now ahead of iron ore as the biggest contributor to BHP’s profit and its chief executive suggests it’s great news for shareholder returns.

WA iron ore no longer makes up the lion’s share of BHP’s earnings and boss Mike Henry ‘fears’ an ‘explosion’ of union activity will stifle long-term investment in the business unit.

Genesis Minerals has emerged as the successful bidder for Magnetic Resources’ neighbouring Lady Julie project in Laverton, tallying up another acquisition for the busy Raleigh Finlayson-led gold miner.

Work has been suspended at a Rio Tinto mine site after a contract worker died in an accident.

Albemarle will mothball its last remaining lithium refining operations in WA and make 250 local workers redundant in a decision the US giant has pinned on Western countries’ inability to compete on costs.

Evolution Mining stock was on a tear after doubling half-year net profit to $767 million and adding an extra 13¢ to shareholder spoils, setting the scene for another bumper season for gold miners.

British-Australian mining giant Rio Tinto says it has abandoned talks over a potential merger deal with rival Glencore.

BHP is escalating an appeal against a landmark Fair Work Commission ruling to the High Court, claiming the precedent that has been set will “drag” down productivity across the mining industry.

Andrew Forrest’s Fortescue has stuck to guidance for the year despite a spike in operating costs during the quarter, and broken a previous record for first-half iron ore shipments.