Australia / New Zealand

During a meeting on Tuesday with Australian Prime Minister Anthony Albanese in Beijing, President Xi Jinping stated that China was ready to work with Australia for the purpose of deepening bilateral ties. China is trying to regain its footing in the region as a result of this meeting. Capitalise The U.S. President Donald Trump has announced sweeping tariffs on trade. China is attempting to counter this by portraying itself as a reliable and stable partner. Chinese officials expressed an interest in expanding the decade-old free-trade agreement and collaborating in artificial intelligence. Xi stated at the beginning of the meeting that...

Australia announced on Friday that it will invest A$432,000,000 ($283.82,000,000) in a project to produce green hydrogen, led by Orica. Orica is the largest explosives manufacturer in the world. The investment supports the industry's growth amid a recent wave of cancelled and delayed projects. The funding will be used to support the Hunter Valley Hydrogen Hub. This hub aims at decarbonising Orica's nearby explosives and ammonia manufacturing operations, and ultimately supplying green ammonia fuel for export. The Minister for Climate Change and Energy, Chris Bowen, said that the funding of the project on Australia's east coast would help secure the...

AGL Energy announced on Friday that it has acquired South Australia's Virtual Power Plant from Tesla. The Australian power retailer is looking to increase its battery storage to help drive the green energy transition. AGL is aiming to achieve zero net carbon emissions in 2035 by implementing grid-scale storage projects of 1.4 gigawatts. AGL will be able to access residential solar and battery system networks consisting of approximately 7,000 Powerwall batteries. More are expected to be installed in this year. SAVPP is an extensive network of Powerwall and solar home battery systems installed in South Australian community and social housing....

Bunge Global, a global agribusiness, announced that it had officially closed the long-delayed $34 billion mega deal with Glencore-backed Viterra. This announcement was made two years ago. The merger creates a global crop trading and processing giant that is poised to rival agribusiness giants Archer-Daniels-Midland and Cargill, at a time when slumping grain prices, weak crop-processing margins and geopolitical tensions have eroded profitability in the sector. Bunge closed Wednesday's trading 1.4% higher. Bunge, based in Missouri, has experienced a dramatic turn-around since the deal was announced. In April 2019, Greg Heckman took over as CEO of the company after Soren...

Investment bankers were disappointed by the lack of mergers and acquisitions in the first half of the year. However, a surge of large deals in Asia as well as renewed optimism on U.S. stock markets may be setting the stage for megadeals. Dealmakers report that market uncertainties stemming primarily from U.S. president Donald Trump's tariff war, high interest rate and broader geopolitical conflicts hampered, but not derail, what bankers had expected to be a record-breaking year for global M&A. Dealmakers say that Trump's tariffs, which were launched by his "Liberation Day," on April 2, sent a chill through the market...

As part of an extensive review of the market rules, the Australian government announced on Monday that it would consider creating a reserve of gas on Australia's east coast. The Competition Regulator has warned about looming shortages on the east coast of the country. According to the most recent forecast, a gap will be created by 2028 if no new investments are made. The majority of reserves are in the remote north-west. The review will also aim to preserve Australia's reputation as an important reliable exporter of LNG. The market regulations are being reviewed. They include export controls, an east...

The U.S. coal company Peabody Energy has extended a lockout in one of its New South Wales mining operations, the Mining and Energy Union said Thursday. This follows a protest by its workers who demanded better wages and job security. According to the union, Peabody informed MEU members that the lockout of the Helensburgh underground mine would continue until July 6. The union stated that the workers had been locked out and without pay since 18 June. It also urged the Federal Government for a change in workplace laws which allow employers to take excessively "disproportionate" or "punitive actions" against...

Santos announced on Wednesday that it has progressed towards the final commissioning of its Barossa LNG Project following the arrival and deployment of a floating storage, production and offloading vessel (FPSO) at the Barossa Gas Field. The number two independent gas producer in Australia said that five of the six wells have been drilled. The final well is expected to be finished by the third quarter. In a press release, Australia's No. 2 independent gas producer stated that five wells of the six-well programme have been drilled. The final well is expected to be completed in the third quarter. Santos...

Orsted, world's largest offshore wind developer will increase its investment in Taiwan and South Korea, where it already has projects. Instead of expanding into new markets in Asia a senior official at the company said on Monday. The Danish company has lost around 80% of the value of its stock market since its peak in 2021 due to rising costs, disruptions in supply chains and a loss of investor trust in offshore wind. Per Mejnert Kristensen is Orsted's Asia-Pacific President. He spoke on the sidelines at the Energy Asia2025 conference. Orsted, which is the largest offshore developer in terms of...

China, the largest coal importer in the world, reduced its imports by 18% on an annual basis, according to customs data released Friday. Low-cost domestic coal eroded overseas purchases, while renewables slowed down coal-fired electricity generation. According to the General Administration of Customs, imports were 36.04 millions metric tons for the month, down from 43.82million tons in May 2024. This was the third consecutive month that China's imports of coal fell year-over-year. They had increased previously every month from November 2022. January and February were excluded because they are affected by Lunar New Year holidays. The data shows that coal...

Origin Energy, Australia, downgraded its annual forecast on Monday due to the unseasonably warm temperatures in Britain during March and April, as well as one-off effects. This sent its shares to an almost one-month-low. The shares of the Sydney-based firm fell by around 4.4% at 0508 GMT after reaching their lowest level since the first of May earlier in the day. The benchmark ASX200 index was flat. Origin now expects to lose up to A$100m ($65.19m) on its annual earnings before taxes, interest and depreciation. Origin estimated that it could contribute up to A$100m, while the EBITDA was only A$55m...

Origin Energy, Australia's largest energy company, raised its underlying profit forecast for fiscal 2025 to the lower end due to operational improvements as well as wholesale portfolio benefits. Energy retailer expects its full-year earnings before interest taxes, depreciation, and amortization to be between A$1.3billion ($844.35m) and A$1.4billion, up from the previous range of A$1.1billion to A$1.4billion. Origin said that it also projects a loss up to A$100m in its share in annual EBITDA underlying from Octopus Energy due to the unseasonably warm weather in March and April across United Kingdom, and other one-off effects. Origin estimated that it could contribute...

The U.S. Commerce Department announced on Thursday that it would impose preliminary antidumping duties of 93.5 percent on anode grade graphite imported to the U.S. after concluding the materials were being sold at a lower price than their fair market value. The Commerce Department's fact sheet, seen by, shows that all Chinese producers have a single antidumping margin of 93.5% and a cash deposit rate at 93.5%. Commerce reported that the order will affect imports worth $347.9 million by 2023. The duties are applicable to anode grade graphite materials with a minimum graphite purity of 90% by weight. They can...

The president of the Argentine Chamber of Mining Companies, CAEM, predicted that Argentina's mining exports would exceed $5 billion by 2025. This is up from $4.6 in 2024. Roberto Cacciola, in an interview with he said that the main mining exports of Argentina, gold and silver, would remain the same or even decline slightly by 2025, due to the maturation process for mining projects. However, the rising prices would make up the volume decrease. Cacciola stated that the mining exports could reach $5 or $5.2 billion this year. He said that he expected the opposite for lithium. He expects a...

Prices of copper fell on Wednesday, as concerns about supply disruptions eased and inventories increased amid uncertainty over the impact of U.S. Tariffs. The benchmark three-month price of copper at the London Metal Exchange fell 0.4% to $9,610 per metric tonne at 0945 GMT. This is down from a peak reached on July 2 that was just above $10,000. Nitesh Sha, commodity strategist at WisdomTree, said that there haven't been additional supply disruptions pushing prices higher on the different exchanges. One of the protest leaders said late Tuesday that the blockades had been lifted in Peru, which is the third...

BHP, the world's largest listed miner, announced on Monday that it had signed preliminary agreements with China's battery giants CATL & BYD in order to explore battery options for mining equipment & transport across all its global operations. The companies will research and develop joint battery solutions for heavy equipment, such as locomotives and mining trucks. BHP's Western Australian operations transport millions of tons iron ore from mine sites all the way to the coast. Both companies will be involved in the study of battery recycling and fast charging infrastructure. The new products could also be a model for reducing...

The Australian Prime Minister Anthony Albanese stated on Monday that he is committed to working with China in order to reduce global excess capacity of steel during a business meeting between leaders from both countries. Albanese, in his opening remarks to the meeting, said: "We need to work together as both countries collaborate to advance decarbonisation and also to address global excess capacity of steel." It is in the interest of both countries to have a global steel industry that is sustainable and driven by market forces. China's strong steel exports have partially offset a faltering domestic demand. A growing...

Anthony Mukutuma, FQM’s Country Director in Zambia, said that the recent investment by First Quantum Minerals in Prospect Resources was key to extending mine life at Sentinel Mine. In April, the Canada-based company invested 15% in Prospect and became the largest shareholder of the Australia-listed exploration firm. Prospect is exploring Mumbezhi, a copper project located about 30 km (19 miles) away from FQM’s Sentinel Mine. FQM is a key partner in Mumbezhi exploration. Mukutuma said that the mine life for Sentinel is currently 12 years. FQM has been studying ways to extend this, he added. Mukutuma stated that initial exploration...

The shares of Australian rare-earths miners including Lynas, Iluka Resources and MP Materials, which is based in the United States, surged on Friday following a multi-billion dollar deal between MP Materials and the U.S. Government to increase production of rare-earth magnets. Lynas Rare Earths - the largest rare earths producer in the world outside China - surged up to 20%, reaching its highest level since mid August 2022. It was on track for its best day ever since April 2020. Iluka's intraday gains were the highest ever, with a 27% increase. As of 0558 GMT, the stocks were the biggest...

MP Materials has signed a multi-billion dollar deal with the Department of Defense to build a rare earth magnet factory. The U.S. is looking to reduce its dependence on foreign sources for this critical input. Shares of the company have risen by 41% during premarket trading. The DoD is buying $400 million of preferred stock, and also receiving a warrant from the company, which will make it the largest shareholder. China's restrictions in April, which impose a virtual monopoly in the refining and processing of rare earths, caused a drop in exports of rare earth magnets by 75% last month....

Rio Tinto's next CEO, who may be named as early as this month by the company, should be open for mergers and acquisitions that are transformative, as well as for cost-cutting and productivity improvements. After announcing in May that Jakob Stausholm was stepping down after four and a half years, the world's largest iron ore mining company is now in the final stages of selecting a new CEO through an internal search and an external search. Two other sources familiarized with the search process said that the finalist for the top position will present their case to the board this...

The central bank of Australia left its cash rate unchanged at 3.85% on Tuesday, shocking markets that had confidently bet on a reduction. It said the majority wanted to wait until more information was available to confirm the inflation slowdown. The Australian dollar rose 0.8% to $0.6545 while the three-year bond contract extended previous losses by falling 13 ticks to 96.5. The Reserve Bank of Australia, which concluded a two-day meeting on policy, said that it was cautious about the outlook for inflation. Six members voted in favor of keeping rates the same, while three others voted against. This is...

Washington H. Soul Pattinson, an Australian investment company, and Brickworks, a building materials group from Australia said they had secured funding to merge their companies into a $9.15-billion ASX listed entity named Topco. The company has secured additional funding of A$220,000,000 ($143.81 millions) at the same price as Soul Pattinson’s last closing price, A$42.61. The proceeds from the sale will be used to pay off Brickworks' outstanding debts and other liabilities. Topco's debut is expected to be marked by a market cap of approximately A$14 billion (9.15 billion), supported by A$13.1 in diverse assets, including private equity, property and credit...

South32, an Australian diversified mining company, announced on Monday that it would incur a $130 million impairment charge related to the sale to CoreX Holding B.V. of its Cerro Matoso Ferronickel operations located in northern Colombia. South32 anticipates receiving up to $100,000,000 in cash from CoreX. CoreX is a diversified industrial company with operations spanning the metals and mining sector, green energy and other sectors. In January 2024 the miner began a strategic review at Cerro Matoso, citing an important decline in nickel prices. Nickel producers are struggling with a price collapse fueled by a surge in production from Indonesia....