MINING CORPORATIONS – AUSTRALIA

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

UBS warns against overplaying the volatile rare earths sector

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Original article by Gus McCubbing
The Australian Financial Review – Page: 27 : 5-Nov-25

Shares in Australian rare earths producers have rallied in the wake of the landmark critical minerals deal with the US. AUSIEX notes that the sector has posted strong gains since April, when China imposed export controls on seven rare earth elements. However, UBS equity strategist Richard Schellbach has likened the situation at present to 2010, when China similarly imposed restrictions on rare earths exports to Japan; he notes that the sector initially rallied, followed by a pullback when China removed the export controls. Schellbach also warns that it will take a long time to develop a rare earths industry in Australia; he adds that is unlikely to match the size of the iron ore and LNG industries.

CORPORATES
AUSIEX, UBS HOLDINGS PTY LTD

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

Miners hail end of China grip

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Original article by Brad Thompson
The Australian – Page: 13 & 14 : 22-Oct-25

Arafura Rare Earths’ CEO Darryl Cuzzubbo says the $US8.5bn ($13bn) critical minerals deal between Australia and the US is the biggest step toward breaking China’ stranglehold on the sector. The deal includes a framework for US taxpayers to acquire stakes in Australian rare earths and critical minerals assets. Arafura itself will receive up to $US300m from the US Export-Import Bank to advance its Nolans rare earths project in the Northern Territory, while the federal government will invest another $US100m in the project. Meanwhile, Cuzzubbo says Arafura is about three years away from producing neodymium and praseodymium.

CORPORATES
ARAFURA RARE EARTHS LIMITED – ASX ARU, EXPORT-IMPORT BANK OF THE UNITED STATES

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

Rio, Japanese in Pilbara mine deal

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Original article by Mark Wembridge
The Australian Financial Review – Page: 16 : 8-Oct-25

Rio Tinto has secured state and federal government approvals to develop new iron ore deposits at the West Angelas hub in the Pilbara. Rio Tinto and its Robe River joint venture partners, Mitsui and Nippon Steel, will invest $US733m ($1.1bn) to expand the West Angelas mine, with Rio Tinto to contribute $US389m. The expansion of West Angelas will maintain its annual production capacity of 35 million tonnes. Rio Tinto launched its Western Range iron ore joint venture with China-based Baowu in June, as part of its ongoing commitment to the Pilbara.

CORPORATES
RIO TINTO LIMITED – ASX RIO, MITSUI AND COMPANY LIMITED, NIPPON STEEL AND SUMITOMO METAL CORPORATION, CHINA BAOWU STEEL GROUP CORPORATION LIMITED

BHP stays silent on China’s iron ore ban

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Original article by Brad Thompson
The Australian – Page: 15 : 1-Oct-25

State-run iron ore trader China Mineral Resources Group is said to have imposed a temporary ban on BHP’s shipments of the steel input due to an ongoing dispute over the renewal of long-term supply contracts. The dispute began in mid-September, when CMRG instructed steel mills not to accept delivery of a BHP product known as Jimblebar blend fines or to buy such shipments on the spot market; the ban has now been extended to all BHP iron ore shipments, according to Bloomberg. CMRG was established in 2022 to improve China’s ability to negotiate with iron ore miners, and it now represents more than half of China’s steelmakers in contract discussions. BHP has declined to comment on the import ban.

CORPORATES
BHP GROUP LIMITED – ASX BHP, CHINA MINERAL RESOURCES GROUP COMPANY LIMITED

MinRes chairman in line for $11m windfall

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Original article by Mark Wembridge
The Australian Financial Review – Page: 14 & 19 : 24-Sep-25

The annual salary of Mineral Resources’ non-executive chairman Malcolm Bundey comprises $750,000 in cash and shares. However, Bundey will also be entitled to 780,000 stock options, subject to approval by shareholders at the iron ore and lithium miner’s AGM in November. His stock options will vest between $30 and $40 a share, and they have an exercise price of $25.40. Bundey’s options will be worth about $11.39m if the company’s shares remain above $40 at certain points over the next three years. Mineral Resources’ shares are currently trading at around $40, having reached a low of $14 in April.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN

Northern Minerals bets on non-China premium

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Original article by Peter Ker, Mark Wembridge
The Australian Financial Review – Page: 19 : 17-Sep-25

Northern Minerals has released the definitive feasibility study for its Browns Range rare earths project in Western Australia. It estimates that the project will cost about $592 million and have a mine life of 11 years. Browns Range will produce rare earths such as dysprosium, terbium, neodymium and praseodymium. The latter two are currently fetching about $US70 per kilogram, but Northern Minerals says it hopes to receive about $US107/kg for the rare earths it produces at Browns Range; it adds that prices could potentially rise to around $US138/kg if the world moves to aggressively decouple from Chinese supply chains.

CORPORATES
NORTHERN MINERALS LIMITED – ASX NTU