Today
‘Carnage’ in steel markets to sink iron ore below $US90
Analysts can’t understand what is holding up the price of Australia’s key export and Westpac says the market is ignoring key fundamentals.
- 13 mins ago
- Alex Gluyas
- Opinion
- The AFR View
Union iron ore claim poses risks for green superpower hopes
Let’s hope for the sake of Australia’s energy transition that we don’t return to the bad old days of industrial disruption in the Pilbara.
- The AFR View
Yesterday
BHP forced to negotiate in new push to unionise Pilbara
Unions have forced BHP to the negotiating table and are demanding Rio Tinto do the same, a big breakthrough in their attempts to re-unionise the country’s biggest export industry after decades on the sidelines.
- Brad Thompson
This Month
MinRes joins job cuts carnage in WA mining
The Chris Ellison-led Mineral Resources is slashing its white-collar workforce amid iron ore mine closures and a retreat in its lithium expansion plans.
- Brad Thompson
July
- Opinion
- Chanticleer
Spluttering China the big risk to Rio Tinto’s new growth era
Rio boss Jakob Stausholm says the miner is at a growth inflection point and is relaxed about China’s apparent weakness. But sentiment towards resources is souring.
- James Thomson
- Opinion
- Chanticleer
Fortescue plunge reveals huge shoes to fill
Fortescue was fortunate to have such a sticky institutional backer for as long as it did. Now, it needs to find broader support.
- Anthony Macdonald
- Opinion
- Chanticleer
There’s a frightening new bubble building in China
China’s property bubble has popped, its economy is spluttering and its sharemarket is all over the place. Now there’s a new problem to watch.
- James Thomson
MinRes in $600m pre-sale of iron ore to boost balance sheet
But analysts grilled the company on the deal with an unnamed buyer, describing it as “fascinating” accounting treatment. It has debts of more than $4 billion.
- Brad Thompson
Surging iron ore mining costs plague Fortescue’s year ahead
The Andrew Forrest-chaired resources giant says it expects to grow export volumes, but unit costs are also expected to rise by up to 9 per cent.
- Updated
- Peter Ker
Mining boss calls for policy changes with more jobs in danger
The boss of WA’s peak resources lobby group says the Albanese government needs to step up to prevent more job losses.
- Brad Thompson and Tom Rabe
- Opinion
- Chanticleer
Fortescue’s hydrogen back-flip fails to become sugar hit it should be
One of the issues hanging over the miner is partly gone. So why aren’t fund managers jumping in? They may be more concerned by the company’s other big problems.
- Anthony Macdonald
- Opinion
- Chanticleer
Reality bites for Forrest’s hydrogen dream. Investors won’t mind
The biggest shake-up of Fortescue’s structure and strategy in years will be music to the market’s ear, but is more evidence the energy transition is spluttering.
- James Thomson
- Updated
- Energy
Labor’s hydrogen dream stalls as Fortescue slims down H2 vision
Fortescue will cut 700 jobs and slow its push into green hydrogen in a blow to the Albanese government’s plan to make Australia a hydrogen superpower supported by more than $8 billion of taxpayer funded incentives.
- Peter Ker and Angela Macdonald-Smith
BHP breaks iron ore export record, promises copper lift
The mining giant could raise copper production by 10 per cent in the year ahead as its most important commodities offset nickel and coal woes.
- Peter Ker
Rinehart boosts stake in $5b WA magnetite project linked to India
Australian richest person, Gina Rinehart, is set to strengthen ties with India as the case for a new magnetite mine starts to stack up.
- Brad Thompson
- Opinion
- Chanticleer
Beware the triple threat to Australia’s China riches
Approvals for Rio Tinto’s new $34 billion Simandou mine are a reminder that the next 30 years for the iron ore sector will look much different to the last.
- James Thomson
Rio Tinto’s $34.3b African iron ore project gets green light
Soft iron ore exports from Western Australia were overshadowed by final approvals for the Simandou iron ore project in Africa.
- Peter Ker
The mining stocks fundies think may outrun BHP and Rio
The rout in the ASX’s largest mining companies this year has created a “screaming” buy for some of the sector’s biggest investors.
- Alex Gluyas
Copper a better bet than iron ore and lithium
UBS is tipping copper over other commodities after prices climbed nearly 4 per cent in a week, amid signs of a tighter market for the industrial metal.
- Joanne Tran
ASX to sit out global rally amid iron ore woes
Australian shares are set to dip on Monday despite a strong lead from Wall Street as investors brace for the release of crucial US inflation data this week.
- Alex Gluyas
