B08 Metal Ore Mining

Golden time as bullion hits new heights

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Original article by Charlie Cunningham
The Australian – Page: 13 & 19 : 24-Dec-25

The gold price has risen by more than 70 per cent so far in 2025, which is the strongest annual performance for the ‘safe haven’ in over four decades. The spot price reached a new peak of $US4,497.80 an ounce on Tuesday, compared with about $US2,624/oz at the start of this year. Factors such as central bank buying and geopolitical tensions have contributed to the rally in the gold price, as well as the shares of Australian-listed gold producers. Meanwhile, Justin Lin from Global X says the gold price could potentially rise to around $US5,000/oz in 2026.

CORPORATES
GLOBAL X ETFS AUSTRALIA

Fortescue aims for 2030 debut in African iron ore

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 24-Dec-25

Gabon’s President Brice Oligui Nguema has committed to undertaking a "comprehensive audit" of every mining agreement that the developing nation secured between 2010 and 2024. This is likely to include the deal that Fortescue struck with Nguema’s predecessor Ali Bongo in 2021 regarding the Belinga iron ore project. Fortescue’s executive chairman Andrew Forrest recently travelled to Gabon to discuss the project with Nguema. Fortescue aims to complete a feasibility study by the end of 2026, and Forrest has indicated that he wants shipments to begin by 2030.

CORPORATES
FORTESCUE LIMITED – ASX FMG

Rio Tinto starts work on last crown jewel in Pilbara

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Original article by Tom Rabe
The Australian Financial Review – Page: 15 : 17-Dec-25

Rio Tinto and its partners in the Rhodes Ridge iron project in the Pilbara will spend $US191m ($294m) on a feasibility study, with a view to commencing production in 2030. They will spend a further $US146m on exploration at Rhodes Ridge between 2026 and 2028. Japan-base Mitsui paid $8.4bn for a 40 per cent stake in Rhodes Ridge earlier in 2025; AMB Holdings, the private company of Perth billionaire Angela Bennett, has a 10 per cent stake. Rhodes Ridge has an estimated 6.8 billion tonnes of high-grade ore, and it has the potential for annual production about 100 million tonnes of high-quality iron ore

CORPORATES
RIO TINTO LIMITED – ASX RIO, MITSUI AND COMPANY LIMITED, AMB HOLDINGS PTY LTD

BHP sells stake in power network

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Original article by Brad Thompson
The Australian – Page: 15 & 23 : 10-Dec-25

The Global Infrastructure Partners subsidiary of BlackRock will acquire a minority stake in BHP’s inland power network in the Pilbara. The $US2bn ($3.02bn) deal includes Western Australia Iron Ore’s assets such as the Yarnima gas-fired power station and 400km of transmission and distribution lines that service BHP’s iron ore mines and the company-built mining town of Newman. BHP has a 85 per cent stake in WAIO, whose inland power assets will be transferred to a new entity that will be 51 per cent owned by BHP. The resources group will pay the entity a monthly tariff for using the power network over the next 25 years.

CORPORATES
BHP GROUP LIMITED – ASX BHP, BLACKROCK INCORPORATED, GLOBAL INFRASTRUCTURE PARTNERS

After 25 years, Trott gets his shot at Rio Tinto

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 3-Dec-25

Rio Tinto CEO Simon Trott will present his strategy for the mining company on Thursday after just under 100 days in the role, although he has been with the company for 25 years. Those 100 days have seen him make some quick changes that appointments from within a company can often make, while Morgan Stanley analysts state they expect Trott to use the strategy day to outline a move towards a streamlined structure with lower costs and a prioritisation of cash generation. They suggest that cash flow could be improved by as much as $US1 billion ($1.5 billion) per year by cost cutting.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Mining boss calls time at 69 after ushering in golden era for Perseus

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Original article by Peter Ker
The Australian Financial Review – Page: 21 : 6-Nov-25

Perseus Mining’s market capitalisation is currently about $6.9bn, compared with just $100m when Jeff Quartermaine became CEO in 2013. The gold miner’s revenue has risen from $293m to $1.24bn over the same period. Quartermaine is stepping down after 13 years at the helm and with his 69th birthday approaching; he says the company’s next stage of growth will require somebody with the energy and commitment to take on the role for 5-10 years. Perseus has a focus on Africa, but Quartermaine says Regis Resources’ blocked McPhillamys gold project in NSW shows that there is sovereign risk much closer to home.

CORPORATES
PERSEUS MINING LIMITED – ASX PRU, REGIS RESOURCES LIMITED – ASX RRL

Glencore walks away from taxpayer-funded clean energy pivot

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 29-Oct-25

Anglo-Swiss miner Glencore has advised that it will not proceed with a proposed renewable energy and battery hub at its Murrin Murrin nickel mine and refinery in Western Australia. Glencore had received a $35m grant from the federal government’s Powering the Regions Fund to help finance the development of an 849-hectare renewables hub at Murrin Murrin, which currently operates its own gas-fired power station. A spokesman for Glencore says it decided to cancel the onsite hybrid renewable energy project due to a range of macroeconomic and cost factors. Glencore and the government have agreed to mutually terminate the grant.

CORPORATES
GLENCORE PLC

BHP sees resilient iron ore demand as China slows

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Original article by Mark Wembridge
The Australian Financial Review – Page: 15 : 22-Oct-25

BHP has advised that its Pilbara iron ore production totalled 64 million tonnes in the September quarter, which is one per cent lower than the same period in 2024. The lower output has been attributed to repair work at its Port Hedland infrastructure, but BHP says it is still on track to achieve its full-year production guidance of between 258 million tonnes and 269 million tonnes for 2025-26. BHP expects global demand for iron ore to remain strong, despite expectations of slowing growth in China and the ongoing but yet-to-be confirmed reports that China has banned BHP’s iron ore imports. BHP’s copper production rose by four per cent year-on-year.

CORPORATES
BHP GROUP LIMITED – ASX BHP

US, China trade tensions driving iron ore price surge: Rio Tinto

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 15-Oct-25

Data from S&P Global Platts shows that the price of iron ore with 62 per cent iron content has risen to its highest level since 21 February; the price of benchmark iron ore has also risen by 18 per cent since 25 June. Rio Tinto says demand for iron ore is holding up despite the trade tensions between the US and China. Rio Tinto shipped 84.3 million tonnes of Pilbara iron ore in the September quarter, putting it back on track to achieve its full-year target of 323 million tonnes following storm disruptions in early 2025; however, Rio Tinto will need to ship 88 million tonnes in the December quarter.

CORPORATES
RIO TINTO LIMITED – ASX RIO, S&P GLOBAL PLATTS

Iron ore told to clean up its act

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 8-Oct-25

BHP is seeking approval for the second major extension of its Jimblebar iron ore hub since it opened in 1989. However, Western Australia’s Environmental Protection Authority has stated in its assessment of the expansion plans at Jimblebar that BHP and its Pilbara rivals Fortescue and Rio Tinto will find it more difficult to gain approval for future projects if they fail to prove that they can rehabilitate land and waterways after mining has ended. The EPA noted that there is "limited evidence" that big mining companies have successfully rehabilitated any such areas after six decades of mining in the Pilbara.

CORPORATES
BHP GROUP LIMITED – ASX BHP, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY, FORTESCUE LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO