MINING CORPORATIONS – AUSTRALIA

Woodside, BHP circle Slattery

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Original article by Perry Williams, Colin Packham, Brad Thompson
The Australian – Page: 13 & 19 : 11-Mar-26

Woodside Energy’s chairman Richard Goyder says its board is assessing a number of internal and external candidates to succeed former CEO Meg O’Neill; a decision is expected by the end of March. BHP’s president for Australia, Geraldine Slattery, is considered to the leading external candidate for the role, although she is also in contention to replace CEO Mike Henry when he eventually steps down; there is market speculation that BHP will name Henry’s successor by August. Saul Kavonic from MST Marquee says that recruiting an external candidate may be challenging for Woodside, given that its executive remuneration is below that of its global peers.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS, BHP GROUP LIMITED – ASX BHP, MST MARQUEE

Union boss slams miner over right-of-entry complaints

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 11-Mar-26

BHP’s CEO Mike Henry recently noted that its iron ore mines are dealing with an unprecedented level of right-of-entry requests, amid an ongoing push to re-unionise the Pilbara under the federal goverment’s industrial relations reforms. Unions have in turn criticised BHP’s decision to outsource the processing of Pilbara right-of-entry requests to the Chamber of Commerce & Industry of Western Australia, noting that rivals such as Rio Tinto still do this in-house. The CCIWA has advised that it processed 844 right-of-entry requests for BHP’s mines in 2025, while it has processed 168 so far in 2026.

CORPORATES
BHP GROUP LIMITED – ASX BHP, CHAMBER OF COMMERCE AND INDUSTRY OF WESTERN AUSTRALIA (INCORPORATED), RIO TINTO LIMITED – ASX RIO

Rio Tinto fights shareholder over NT uranium site

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Original article by Peter Ker
The Australian Financial Review – Page: 21 : 4-Mar-26

Zentree Investments is the second-largest shareholder in Energy Resources of Australia. It contends that Rio Tinto’s takeover offer for ERA of $0.02 per share undervalues the former uranium miner, which ceased production at the Ranger mine in 2021; Zentree estimates that ‘fair value’ would be around $0.3102 per share. Rio Tinto values ERA’s undeveloped Jabiluka uranium deposit at zero because it does not think the traditional owners would allow it be mined; however, Zentree argues that the Mirarr people do not have the right to veto development of Jabiluka, and any future owner of the project would not be bound by ERA’s pledge to not undertake mining without the consent of the Mirrar.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ENERGY RESOURCES OF AUSTRALIA LIMITED – ASX ERA, ZENTREE INVESTMENTS

Queensland private coal miner joins state’s royalties graveyard

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Original article by Brad Thompson
The Australian – Page: 13 & 14 : 25-Feb-26

Privately-owned coal miner Vitrinite has been placed in the hands of voluntary administrators from Cor Cordis and receivers from KordaMentha. Vitrinite’s assets include the Vulcan coking coal mine in Queensland’s Bowen Basin. A spokesperson for KordaMentha says it will shortly begin the process of selling or recapitalising Vitrinite’s assets. Vitrinite’s collapse has put further scrutiny on the Queensland government’s controversial coal royalty regime, which it inherited from the former Labor government and has refused to change.

CORPORATES
VITRINITE PTY LTD, COR CORDIS PTY LTD, KORDA MENTHA AND COLLEAGUES PTY LTD

BHP warns on unions’ advance

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Original article by Brad Thompson
The Australian – Page: 15 & 24 : 18-Feb-26

BHP has posted a 2025-26 interim profit of $US5.64bn ($7.9bn), which is 28 per cent higher than previously; revenue increased by 11 per cent to $US27.9bn ($39.5bn). Copper was a key driver of BHP’s half-year result, with the energy transition metal exceeding earnings from iron ore for the first time; copper accounted for 51 per cent of BHP’s underlying EBITDA of $US15.5bn, and CEO Mike Henry has described the earnings shift as a ‘milestone’. Meanwhile, Henry has expressed concern about the growing push to reunionise the Pilbara in the wake of industrial relations reforms during the federal government’s first term in office; he notes that there has been a big increase in unions’ right-of-entry requests at its iron ore mines.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Fortescue pursues green tick for new mine

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Original article by Brad Thompson
The Australian – Page: 17 : 18-Feb-26

Fortescue recently submitted an application to develop the Wyloo North iron ore mine to Western Australia’s Environmental Protection Authority. Fortescue estimates that the mine’s carbon emissions will peak at nearly 99,000 tonnes per annum during the two-year construction phase, and up to 53,300 tonnes a year when it is operational. Fortescue’s mining CEO Dino Otranto emphasises that the emissions forecasts are based on the company’s current iron ore mines, and Wyloo North will be designed to operate without the use of fossil fuels. Fortescue has set a net-zero emissions target of 2030 for its mining operations.

CORPORATES
FORTESCUE LIMITED – ASX FMG, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY

Lithium boss urges West to instate price floor after landmark deal

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Original article by Mark Wembridge
The Australian Financial Review – Page: Online : 11-Feb-26

PLS Group has secured a two-year offtake agreement with China-based Canmax Technologies for the suppy of spodumene concentrate. PLS will supply Canmax with 150,000 tonnes of spodumene concentrate over two years, with an option to extend the deal for a further 12 months. The agreement includes a guaranteed floor price of $US1,000 per tonne, and CEO Dale Henderson has urged Western governments to consider implementing a floor price for lithium, as well as other incentives. The price of six per cent spodumene rose to more than $US2,000 per tonne in early 2026, compared with just $US575 per tonne in mid-2025.

CORPORATES
PLS GROUP LIMITED – ASX PLS, CANMAX TECHNOLOGIES COMPANY LIMITED

Rio Tinto investors lean to London

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 4-Feb-26

Rio Tinto’s Australian-listed shares have fallen by 1.5 per cent since the resources giant confirmed in early January that it is holding merger talks with Glencore, while its London-listed shares have gained nearly nine per cent. Rio Tinto’s Australian shares have traditionally traded at a premium to its London stock, but this premium has fallen from 23 per cent at the start of 2026 to around 14 per cent. Some observers believe that Rio Tinto is more likely to pay for the Glencore deal by issuing new Australian shares, which could result in the shareholdings of local investors being diluted.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC

Regis revives $1b gold mine halted by bee ruling

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 3-Feb-26

Regis Resources will seek environmental approval from the federal government for an ‘integrated waste landform’ to store waste from its proposed McPhillamys gold mine near Blayney in NSW. Regis contends that the tailings dam that it had originally proposed – and which was blocked by former environment minister Tanya Plibersek on Indigenous heritage grounds – is still the ‘optimal’ solution. However, it has lodged the application to develop the integrated waste landform at an alternative site in case its legal challenge to Plibersk’s 2024 ruling is unsuccessful. Regis estimates that McPhillamys contains at least 2.26 million ounces of gold.

CORPORATES
REGIS RESOURCES LIMITED – ASX RRL, AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER

Rio must buy Glencore whole: shareholders

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 21-Jan-26

Some of Glencore’s biggest shareholders have stated that Rio Tinto must agree to buy the entire company rather than merely its most desirable assets, such as its copper and zinc mines. Rio Tinto is unlikely to want to retain Glencore’s coal assets if the proposed merger goes ahead, given that it exited the sector about eight years ago. However, some Glencore shareholders have warned that they are unlikely to support Rio Tinto’s bid if it seeks to ‘cherry-pick’ the company’s assets. The investors also contend that Rio Tinto will need to offer a takeover premium if its management team led by CEO Simon Trott is to run the merged group.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC