Mining

Rio Tinto shipped a record volume of Pilbara iron ore during the December quarter while confirming it has bowed to pressure from China to adopt a new pricing index.

BHP’s Pilbara iron ore machine has racked up a half-year record and copper targets have been set even higher, but ambitions to push into a new commodity in Canada have blown the budget again.

Arch-rivals BHP and Rio Tinto are looking at mining hundreds of millions of tonnes of WA iron ore together, in what could mark the beginning of a cartel to curb China’s shakedown.

Amanda Lacaze will step down as chief executive of Lynas Rare Earths after leading the miner from a “troubled startup” to the commodity’s biggest producer outside of China.

Government backing for critical minerals should focus on rare earths vital for clean energy and national security and emulate an existing scheme underpinning renewable projects, the sector has told ministers.

Mining and energy groups say a Federal Court ruling on union delegates will create a two-tiered workplace class — those who ‘actually work’ and those who do ‘whatever they please’.

After reports emerged that a new takeover bid was underway between BHP and Anglo American, the London-listed mining giant flipped, revealing it is ‘no longer’ looking to combine companies.

Mineral Resources will sell 30 per cent of its WA lithium business to South Korea’s POSCO for $1.2 billion to buttress a debt-laden balance sheet.

Haul road problems are in the rear view mirror, Mineral Resources says, and the company is now on track to reach full-year volume and cost guidance across the board.

Scores of jobs are set to go after BHP decided to ‘significantly scale back’ activity at an iron ore mine that employs about 800 people and is a key union target.

BHP has not ruled out joining forces with Rio Tinto, or another Pilbara iron ore player, to confront its biggest customer flexing its market muscle.

A Reserve Bank report says Australia’s push to become a global force in critical minerals may take far longer than expected, despite a major new deal with the US.

BHP’s boss is warning high energy prices are crippling Australia’s competitiveness, saying the country is at risk of being left behind by its rivals in the global race for investment. 

STEPHEN JOHNSON: As China’s economic growth slows, Guinea’s Simandou iron ore could put downward pressure on prices, hurting Australian tax revenue.

Annual revenue generated by the main gold and silver mint on Australia’s east coast surged 98 per cent to more than $18 billion, but some accounting wizardry saw profit rise just 7 per cent.