Australia / New Zealand

Customs data released on Friday showed that China's imports of coal in October were down 10% from the previous year, due to a holiday which reduced the number working days during the month. Imports will be supported in 2025 by the winter restocking of products during the last two months. Imports in October fell from 46.25 to 41.74 millions metric tons, a drop of almost ten percent. Imports in September reached 46 million metric tonnes, a record high for nine months. Feng Dongbin is vice-general manager of Fenwei Digital Information Technology. He said that imports decreased sequentially, and also from...

The Australian government will introduce a bill on environmental protection into the parliament on Thursday. It said that this would help businesses by making approvals of resource and construction projects faster and easier. The center-left Labor party hopes that its legislation will give a boost to an economy geared toward resource extraction. Australia is one of the world's largest producers of metals, coal and gas. The environment ministry released a statement saying that "these vital changes had been waiting five years for delivery, and we have seen our environment going backwards, and businesses losing time and money." The bill will...

The oil prices rose by about 5% after Washington imposed new sanctions against major Russian companies for the war in Ukraine. Major stock indexes also edged up as gains from U.S. energy stocks and European energy shares offset some disappointing earnings reports. The sanctions were announced late on Wednesday and targeted major Russian suppliers Rosneft, Lukoil. The U.S. announced it was ready to take additional action, as it urged Moscow to immediately agree to a ceasefire. Energy was the leading sector to gain on Wall Street, according to the S&P 500 index. Energy was the last sector to gain 1.2%....

The global stock market got a boost Thursday thanks to a series of positive earnings reports that helped offset some of the gloom in Wall Street due to a lacklustre performance by tech megacaps. Oil prices also rose following U.S. sanction against Russia. After the U.S. placed sanctions on Rosneft, and Lukoil, two major Russian oil companies over the Ukraine conflict. The STOXX 600 index rose 0.3% for the day, as positive earnings helped to boost the domestic indexes. The MSCI All-World Index, however, has slipped into the negative zone, and is on its way to its third consecutive day...

Asian stocks dropped for a second consecutive day on Thursday, as Wall Street was hit by a sell-off due to lackluster earnings from the tech giants. Meanwhile, U.S. sanctions on Russia and possible export controls against China rekindled geopolitical concerns. After the U.S. placed sanctions on Rosneft, and Lukoil - two major Russian oil companies - over the Ukraine conflict, the price of oil jumped 3%. The broadest MSCI index of Asia-Pacific stocks outside Japan fell 0.4% last week, while Japan's Nikkei225 dropped 1.5%. Chinese stocks dropped as much as 1,1% after sources claimed that the White House was considering...

BHP Group's CEO stated at the annual general meeting that it will be forced to make "difficult" decisions for its metallurgical business in Australia, if no regulatory changes are made to help it. BHP announced last month that it would cut 750 positions and suspend operations at a Queensland coal mine, which it shares with an affiliate of Mitsubishi. It blamed low prices and high royalties from the state government for its poor returns. Mike Henry, CEO of the miner’s annual general meeting, said: "Without change there will be without a doubt more difficult decisions." The incoming chair Ross McEwan,...

Anglo American offered to purchase ferronickel for resale to Europe from MMG, for a period of up to 10 year to alleviate EU antitrust concerns over the sale of their nickel business to an unit of Hong Kong listed company. This was revealed by a source with direct knowledge on Wednesday. Anglo American, a London-listed company, announced in February the $500 million sale of its nickel business to a unit of MMG. The European Commission has now begun to examine the sale. Source: The remedy offered would alleviate any regulatory concerns about the deal cutting off some metal supply to...

Customs data released on Monday showed that China's imports of coal rose to their highest level in nine months, as domestic coal prices increased, making imported coal more affordable. However, shipments were still below the levels seen a year ago. China's General Administration of Customs reported that the country imported 46 million metric tonnes of coal last month. The decline in prices on the international market was responsible for the lower total of last month compared to September, when it was a record high. This record was broken in November. September 2024 is now the second highest month ever. The...

The two companies announced on Tuesday that Australian natural gas producer Tamboran Resources had signed an agreement with Irish oil and gas company Falcon Oil & Gas to purchase it in a deal worth C$239,000,000 ($171.81,000,000) in cash plus stock. The agreement aims to strengthen Tamboran’s position in the Beetaloo Basin in Australia’s Northern Territory. This area is known for its immense natural gas potential. It also reflects the growing interest in untapped resources in this region, and exploration activities are expected to increase in the next few years. Through the deal, the firm would consolidate their presence in the...

In Australia, the biggest buyouts in 15 years have failed this year. Misaligned valuations and regulatory risks are adding to the challenges of navigating a regulatory environment that is becoming increasingly strict. The ADNOC-led group's decision to withdraw from its bid of $18,7 billion for Santos (Australia's second-largest gas producer) is the latest high-profile deal to fail in Australia in this year. Sources reported that the ADNOC bid, via its investment vehicle XRG was shelved because of disagreements between the parties on potential capital gains taxes relating to a Santos property. Analysts said that the deal would also have had...

BHP announced on Wednesday that it would suspend operations and eliminate 750 jobs in a Queensland coal mine, which it shares with an affiliate of Mitsubishi. It blamed low prices and high royalties from the state government for its poor returns. BHP Mitsubishi Alliance (BMA), Saraji South, a part of the Saraji Mine Complex will be put into care and maintainance from November 2025. The Saraji Complex produced 8,2 million metric tonnes of coking coal during the year ending June 2025. BHP is one of the top exporters in the world of coking coal, which is used to make steel....

Investors and bankers on Wednesday said that BHP, the world's largest copper miner, is focusing on growing its own assets as it transitions to a new leadership. This means it will not be able to gatecrash a planned $53 billion merger between Anglo American Resources and Teck Resources. Anglo American, a London-listed company, and Teck Resources, a Canadian firm, announced their merger on Tuesday. This is the second-largest tie-up in this sector. The goal of the merger is to create a global heavyweight focused on copper. The deal was announced just over a month after BHP canceled a $49-billion bid...

Guinea's mines minister has told reporters that the country will accelerate the development of iron ore pellet and alumina refineries to stop decades of raw ore shipments. The first shipments of iron ore from the huge Simandou mine are expected this week. The World Bank stated in July that alumina and ore processing within Guinea could be a game changer for the country's economy, creating industrial jobs while reducing Guinea's exposure to swings in commodity prices. Guinea exports about 60% of its bauxite to China as a feedstock, and a third is iron ore from the Simandou Mine, which is...

Marubeni Corp, a Japanese company, announced on Monday that it would invest in an Australian mineral sands development project run by RZ Resources. This follows in the footsteps JX Advanced Metals of Japan who struck a similar agreement with RZ Resources earlier this year. Marubeni has agreed to pay A$15m ($9.75m) towards options that will grant it up 5% of the equity in RZ's Copi Mineral Sands Mine Project in New South Wales, as well as certain marketing rights if the feasibility of the project is confirmed. RZ, the owner of the Copi project, as well as a mineral separation...

According to a memo sent to Newmont's staff, the company has reduced its workforce by 16% as part of restructuring after acquiring Australian miner Newcrest. In the memo, it was stated that the reductions included job eliminations, vacancies unfilled, and changes in role levels. This reflected efforts to streamline operations, and integrate both companies. Newmont purchased Newcrest for $17 billion in 2023. Following the acquisition, Canada's largest gold producer, sold over $2 billion worth of Canadian assets. It also cut jobs, and reduced debt to reduce non-core operations. Newmont, as part of its integration process, launched a revamp project known...

China's imports of iron ore in October were above 100 million tonnes for the fifth consecutive month. This was due to robust shipments, boosted by rising prices and a resilient demand by the world's biggest consumer. The General Administration of Customs reported on Friday that China imported 111.3 millions metric tons of this key ingredient for steelmaking last month. The volume in October was higher than the 103.84 millions tons recorded in the same month of 2024. It was also the second highest total for the year so far, despite the fall of 4.32% since the record high monthly in...

Australian shares were little altered on Friday as gloomy performances in the financial sector following a disappointing profit half-year from Macquarie, a top investment bank, partially offset gains in local stocks in energy, real estate and healthcare. As of 2349 GMT the S&P/ASX 200 was flat at 8,826.80, and is on course for its second consecutive weekly loss if current momentum continues. Macquarie Group shares fell 5.5%, their lowest level in over five months. The lender missed expectations on its half-year profits due to a lacklustre commodity division. CBA, the top lender in Australia, lost 0.8% and ended a winning...

The UK's FTSE 100 remained flat on Wednesday, as the losses of heavyweight banks were countered by gains in energy shares. Investors are now focusing on a Bank of England rate decision this week and on more corporate earnings. The blue-chip FTSE 100 index remained flat at 9712.2 by 1126 GMT. The rise in crude oil prices led to a 0.3% increase for heavyweight oil and gas companies. Standard Chartered, Barclays and other banks trimmed gains in the broader index. Personal goods were the leading gainers with a 1.6% increase. Precious metal miner's fell 2%. The Bank of England will...

Australian shares dropped for the second consecutive session on Wednesday, as investors shifted from commodity stocks to banks in search of stability and higher returns amid the cautious policy stance of Australia's central bank. The S&P/ASX 200 Index fell 0.1%, closing at 8,802 points. This is its lowest level since September-end and it now stands 313.2 points lower than its record high of 9115.20 points hit on October 21, 2010. Fortescue fell 2.5% due to lower iron ore, and Rio Tinto too. Gold stocks fell 1.1%, as the sector that recently propelled ASX200 to record levels dropped to follow bullion's...

EU antitrust regulators warned on Tuesday that the plan of Hong Kong-listed MMG to purchase Anglo American's Brazilian Nickel business could allow MMG to divert Ferronickel away from Europe, and harm European stainless steel production. The European Commission, the EU's competition enforcer opened a detailed investigation into the deal amid global concerns over the supply of key mineral and China’s dominance. Anglo American announced The sale In February, two ferronickel projects and two greenfields in Brazil were completed. In a recent statement, EU Antitrust Chief Teresa Ribera stated that ferronickel is an important input for European producers in order to...

A letter seen by the Board shows that the activist fund Palliser capital has increased pressure on Rio Tinto, asking it to launch a "now-or-never" counterbid to acquire Teck Resources. The letter urges Rio Tinto's dual listed structure to be unified and to spin off the base metals division to create a powerhouse in copper. In a letter dated October 17, Rio shareholders Palliser and Palliser encouraged the company to contest Teck's merger agreement with Anglo American in order to gain control over a copper portfolio of tier one that could produce combined 1.3 million tons of copper a year....

DLA Piper, a law firm, said that disagreements between governments and investors about resources have reached a ten-year high. This is due to resource nationalism, and the growing competition between China and the U.S. for vital minerals. The scramble to find minerals is reflected in the race to get the precious oil and gas revenue that is vital to state coffers. This is especially true for emerging economies. DLA Piper reported that the 32 disputes filed with the World Bank's arbitration body so far this year, which include everything from gold, uranium, and lithium to oil and gas, have already...

Australian shares made modest gains on Monday as Westpac's record closing after a profit beating offset weakness in gold stock. Investors largely stayed the course ahead of this week's central bank policy decision. The benchmark S&P/ASX 200 index closed 0.2% higher, at 8,894.8. The benchmark index gained only 0.4% in October. Westpac's gain of 2.8% lifted heavyweight financials by 1.3%. Australia's third largest lender in terms of market value reported a modestly better-than-expected annual profit, sending its share price to a new record high. Investors look at the results to see if the trend and the net interest margins have...

Tim Hodgson, Minister of Energy and Natural Resources, announced on Friday that Canada would accelerate mining projects totaling C$6.4 billion ($4.6billion) as part the Critical Minerals Production Alliance. The announcement was made at the conclusion of a two-day meeting of energy ministers and environmental ministers of the Group of Seven in Toronto. Hodgson stated that Canada, along with its G7 partners, will mobilize both public and private capital in order to accelerate the production of graphite and rare earth elements. Canada has announced that as part of its alliance with Australia's Rio Tinto and Quebec-based Nouveau Monde Graphite, it signed...