Mining

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.

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’.