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Australian gold miner Northern Star falls 11% after production forecast is cut
The shares of Australia's Northern Star Resources dropped more than 11% Friday, kicking off the?New Year in a gloomy manner, after claiming unplanned maintenance as well as operational challenges. The shares of Australia's largest listed gold producer fell as much as 11.5%, to A$23.67. This is their biggest intraday decline since late June?2022. As of 0230 GMT the stock was trading at A$24.130 and was the biggest loser on the ASX 200 index, which was up by 0.2%. Northern Star has lowered its production forecast for fiscal 2026 to between 1,600 - 1,700 kiloounces (koz), down from its previous guidance of between 1,700 and 1,850 koz. The midpoint of the new range is significantly below the Visible Alpha consensus of 1,720.3 kg, but it's slightly higher than last year's production of 1,634 kg. Perth-based Western Australia-based company has been facing a number of problems across its sites in the last quarter. These include carbon-in leach tank failures and reduced mining fleets. The company will reopen its Kalgoorlie?production?centre in January. However, throughput will remain uneven in the second half of the year as it?shifts to the expanded mill. This is scheduled to be completed in the first quarter of fiscal 2027. Northern Star's quarterly results, which will be released on the 22nd of January, will include its costs for the December quarter and a forecast for annual costs. (Reporting by Shivangi Lahiri in Bengaluru; Editing by Subhranshu Sahu)
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Oil prices rise after biggest annual decline since 2020
The oil prices rose on the first trading day in 2026, after they had suffered their worst annual decline since 2020 last year. This was due to Ukrainian 'drones' targeting Russian oil installations and a U.S. blockade that impacted Venezuelan exports. Brent crude futures rose 14 cents to $60.99 per barrel on Friday by 1:46 GMT. U.S. West Texas intermediate crude crude was up 14 cents at $57.56 per barrel. Russia and Ukraine traded accusations of attacks on civilians New Year's Day, despite intensive talks overseen?by U.S. president?Donald Trump aimed at ending the nearly four-year old?war. In recent months, Kyiv has intensified its strikes against Russian energy infrastructure to cut off Moscow’s sources of financing for the military campaign in Ukraine. Washington imposed sanctions Wednesday on four oil tankers and companies that it claimed were involved in Venezuela's oil industry. The U.S. Blockade is designed to prevent sanctioned oil tankers from entering Venezuela or leaving the country. This has forced PDVSA, Venezuela's state-owned energy company, to take extreme measures to avoid closing down refineries as fuel inventories increase. Brent and WTI benchmarks experienced annual losses of almost?20% in 2025. This was the largest since 2020 as concerns over supply and tariffs trumped geopolitical risk. Brent lost money for the third consecutive year, which is the longest streak in history. According to the Energy Information Administration, Wednesday, the United States' oil production reached a record of 13.87 million barrels a day in October. The EIA reported that last week, crude stocks dropped while gasoline and distillate inventory rose due to a robust refining industry. Reporting by Florence Tan, Editing by Tom Hogue
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Nickel Industries Australia says South Korea's Sphere will buy 10% of the Indonesian project
Nickel 'Industries, Australia's Nickel?Industries, announced on Friday that South Korea's 'Sphere Corp' will purchase a '10% stake' in the Excelsior Nickel Cobalt High-Pressure Acid Leach Plant (HPAL) Project in Indonesia for $2.4 billion. Nickel Industries, an Australian company, said that the South Korean materials manufacturer would acquire the stake in the project from Hong Kong's?Decent Resource. Nickel Industries, however, will keep its 44% stake in the project. Sphere, a supplier of special alloys to Elon Musk's SpaceX, has agreed to sell its 10% share of nickel as cathode. It also entered into a contract for the sale of additional volumes at market prices above 10%. According to Nickel Industries, the ENC HPAL Project, which is being built in Indonesia’s Central Sulawesi will be the first HPAL project with the ability to produce three Class-1 Nickel?products: mixed hydroxide?precipitate (MHP), Nickel sulphate, and Nickel cathode. The deal is made at a time when nickel prices are soaring, as Indonesia plans to reduce its mining output quotas in order to boost commodity prices. Nickel?Industries anticipates that funding will be completed in the first quarter 2026. Nichiket Sunil reported from Bengaluru, and Chris Reese edited the story.
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Three dead, seven missing after New Year's Eve attack in Peru on informal miners
A?local?mayor announced on Thursday that at least three people had been killed and seven more missing following a New Years Eve attack on informal gold miners. This was the latest in a series attacks against small-scale miners of the Andean nation. Aldo Marino, the mayor of Pataz, told local TV that the attack occurred in a city in northern La Libertad. In 'May of last year, police reported that 13 miners were killed in the same area as criminal gangs tried to gain control. Marino, who spoke to Canal N on the subject, said that he had received information from police indicating three people died in a mine entry, and seven others are still missing. He added that reports from other people living nearby suggested a higher death toll. The attack was not confirmed by the police and no government officials could be reached for comment. Pataz is now the main gold producing area in Peru, thanks to small-scale informal or artisan mines that operate under temporary government permits called REINFO. Illegal miners, who are said to be stealing the output of other miners in collaboration with criminal gangs according to sources from police and industry, exploit thousands of permits. The Peruvian government extended REINFO permits by one year in December, marking the fifth extension in the last decade. In July, it kicked out over 50,000 small scale miners, or more than half of them, and kept just over 30,000 to go through a formalization procedure. In 2024, Peru exported gold worth $15.5 billion. This is a dramatic increase from the $11 billion recorded in 2018. According to local industry estimates and the country's financial regulator, about 40% of gold in Peru is illegal. Reporting by Marco Aquino, Editing by Ros Russel and Nick Zieminski
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Two people are killed in fireworks accidents in the Netherlands. A historic Amsterdam church is destroyed by fire.
In the Netherlands, two people were killed by fireworks and there was a "scattered" outbreak of violence during the New Year celebrations. A historic church in Amsterdam also caught fire. In the Netherlands, people set off fireworks to celebrate New Year's Eve. This causes thousands of injuries every year and damages of millions of Euros. Police said that this year 250 people were arrested on New Year's Eve, and riot police in various towns were deployed. The impact of the heavy fireworks and arson on New Year's Eve was devastating in some areas. "The targeted violence against the?emergency service and?police were intense again," said police in a Thursday statement. Police reported that fireworks accidents had killed a man aged 38 in Aalsmeer (near Amsterdam) and a boy in Nijmegen in the east. A fire in Amsterdam's Vondelpark destroyed the neogothic Vondelkerk. The fire started shortly after midnight. Amsterdam's police and fire departments said that they were investigating the cause of the fire in the 1872-built?church and have not yet made any comments. The ban on fireworks sales to consumers nationwide will be in effect by 2025. Years ago, emergency room doctors, local and national politicians, and police and firefighters have been campaigning for the ban. (Reporting by Stephanie van den Berg Editing by Frances Kerry)
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Petroperu, the state-owned company in Peru, is now open to private investors after a reorganization
Late Wednesday, Peru issued an urgent decree approving the restructuring of?state owned oil firm Petroperu and allowing private investments in key company assets. According to the decree signed by?Peruvian President Jose Jeri, the company may be divided into one or several asset blocks. This includes the Talara refinery which the company has spent $6.5 billion upgrading. Petroperu also operates or has concessions on six crude oil blocks that have limited production. It has a fuel marketing and distribution chain. The Peruvian ministry of energy and mines stated that the decree is intended to "?ensure compliance with financial obligations through the technical management of their assets, laying a foundation for Petroperu's self-sustainability." The ministry stated that the company's "situation is particularly sensitive" with losses accumulating to $479 million between January and 2025 and debts to vendors of $764 millions through December. This is in addition to the $774 million reported losses last year. The company's financial problems are partly due to the debt from the Talara refinery upgrade, which cost more than double the original estimate. This led to the company losing its investment grade rating in 2022. Petroperu has received government financing totaling $5.3 billion from 2022 to 2024. (Reporter Marco Aquino, Editing by Alexander Villegas & Nick Zieminski).
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Ukraine condemns Russian New Year drone attack on power Infrastructure
Volodymyr Zelenskiy, the President of Ukraine, said that a Russian drone had damaged power infrastructure overnight in several Ukrainian regions. Meanwhile, Moscow accused Ukraine of a "deadly" new year's attack on a part of Ukraine under Russian control. "Russia deliberately starts war on the New Year. Zelenskiy posted on Telegram that "over 200 drones attacked Ukraine during the night." Zelenskiy stated that energy infrastructure in seven different regions of Ukraine was targeted. Russia has accused Ukraine of killing 24 people in a drone attack on a cafe and hotel where civilians were celebrating the New Year. The strike took place in an area of southern Kherson controlled by Russia. The Ukrainian military did not respond immediately to a question about Moscow's accusations. Zelenskiy stated that Russia's "holiday season" attacks demonstrated Ukraine could not afford delays in its air defence supply. "(Our) Allies have names of equipment that we lack. "We expect everything that was agreed upon with the United States for our defense at the end December will arrive on schedule," he stated, without elaborating. Zelenskiy has met with President Donald Trump in Florida on Sunday to negotiate a peace framework that will end the nearly four-year war. Donald Trump met with Zelenskiy in Florida, on Sunday, to discuss a framework for peace to end the almost four-year conflict. Both leaders have said that they are close in reaching an agreement. However, there remain thorny questions regarding the post-war control of territories. Ukrainian energy minister said that a "significant" number of households in Volyn, Odesa, and Chernihiv regions, located in western and southwest Ukraine respectively, were cut off from electricity by the overnight strikes. Volant's governor said that more than 103,000 households had lost electricity as a direct result of the attack. The Volyn region lies several hundred kilometers from the frontline and borders NATO-member Poland. (Reporting and editing by Gareth Jones, Ros Russell and Max Hunder)
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Police: Dozens of people are feared dead following explosion at Swiss ski resort bar
Swiss police said that dozens of people were feared to be 'killed' and 100 others injured after an explosion tore into a packed bar during a party on New Year’s Eve in the upscale resort of Crans-Montana, located in southwest Switzerland. The police had previously said that many people were being treated for injuries. A police spokesperson confirmed that more than 100 people were in the bar when the explosion occurred. Fire broke out in the early hours of the morning in Crans-Montana at "Le Constellation", where police, fire brigade, and rescue services had been deployed to help victims. Police said in a statement that the area was completely?closed and a no fly zone had been declared over Crans-Montana. They added that the cause of the explosion remained unknown.
Yahya Sinwar: The Hamas leader dedicated to eradicating Israel is dead
Hamas leader Yahya Sinwar remained unrepentant about the Oct. 7 attacks in spite of letting loose an Israeli invasion that has actually killed tens of thousands of Palestinians, laid waste to his Gaza homeland and drizzled damage on ally Hezbollah, individuals in contact with him have stated.
The Israeli military said on Thursday that Sinwar, 62, designer of in 2015's Hamas's cross-border raids that ended up being the most dangerous day in Israel's history, was eliminated in an operation in the southern Gaza Strip on Wednesday.
Israeli Prime Minister Benjamin Netanyahu stated: The. score has been settled and evil has been dealt a blow on their. most wanted opponent. Hamas sources said signs from Gaza. suggested that Sinwar had actually been killed in an Israeli operation.
Besides his sibling, Mohammed, a top Hamas leader, Sinwar. is believed to have been the last Hamas leader on a high-profile. Israeli hit list prepared after the Oct. 7 attack.
For Sinwar, armed battle stayed the only method to require. the production of a Palestinian nation, Palestinian authorities and. Arab sources stated, speaking in weeks causing the Oct. 7. anniversary.
The attacks eliminated 1,200 people, generally civilians, and. recorded 250 captives, according to Israeli tallies, in the. most dangerous day for Jews since the Holocaust.
Israel responded by introducing a huge offensive, killing. 42,400 people and displacing 1.9 million, according to. Palestinian health authorities and U.N. figures.
Now the conflict has infected Lebanon, with Israel heavily. breaking down Iranian-backed militant group Hezbollah, consisting of. eliminating most of its leadership. Hamas patron Tehran is at risk. of being pulled into open war with Israel.
Sinwar drew Iran and its entire Axis of Resistance -. consisting of Hezbollah, Yemen's Houthis and Iraqi militias - into. dispute with Israel, said Hassan Hassan, an author and. researcher on Islamic groups.
We're seeing now the ripple effects of Oct. 7. Sinwar's. gamble didn't work, Hassan said, recommending that the Axis of. Resistance might never recover.
What Israel did to Hezbollah in two weeks is nearly equal. to an entire year of degrading Hamas in Gaza. With Hezbollah,. three layers of leadership have been gotten rid of, its armed force. command has actually been decimated, and its essential leader Hassan. Nasrallah has actually been assassinated, added Hassan.
Sinwar was picked as the Islamist motion's general leader. after his predecessor Ismail Haniyeh was eliminated in July by a. suspected Israeli strike during a visit to Tehran. Israel has. not confirmed its participation in the strike.
Two Israeli sources stated that, running from a network of. labyrinthine tunnels under Gaza, Sinwar had over the previous year. endured Israeli airstrikes, which have reportedly eliminated his. deputy Mohammed Deif and other senior leaders.
After Oct. 7, Israel's Defence Minister Yoav Gallant said. Sinwar and other leaders were residing on obtained time.
Sinwar has actually operated in secrecy, moving continuously and using. trusted messengers for non-digital interaction, according to. three Hamas authorities and one regional official. He had not been. seen in public because Oct. 7, 2023.
Over months of stopped working ceasefire talks, led by Qatar and. Egypt, that focused on switching detainees for hostages, Sinwar. was the sole decision-maker, Hamas sources stated. Arbitrators. would wait for days for reactions filtered through a secretive. chain of messengers.
Sinwar's high tolerance for suffering, both for himself and. for the Palestinian people, in the name of a cause, appeared. when he helped work out the 2011 exchange of 1,027 detainees,. himself consisted of, for one kidnapped Israeli soldier.
The kidnapping by Hamas had caused an Israeli attack on the. seaside enclave and thousands of Palestinian deaths.
Half a lots people who know Sinwar informed Reuters his resolve. was formed by an impoverished childhood in Gaza's refugee camps. and a harsh 22 years in Israeli custody, consisting of a period in. Ashkelon, the town his moms and dads called home before fleeing after. the 1948 Arab-Israeli war.
The question of hostages and prisoner swaps was deeply. individual for Sinwar, said all the sources. He had actually vowed to complimentary. all Palestinian detainees kept in Israel.
Sinwar ended up being a member of Hamas soon after its starting in. the 1980s, adopting the group's radical Islamist ideology, which. seeks to develop an Islamic state in historic Palestine and. opposes Israel's presence.
The ideology views Israel not only as a political competitor but. as an occupying force on Muslim land. Seen in this light,. challenges and suffering were often interpreted by him and his. followers as part of a bigger Islamic belief of sacrifice,. experts on Islamic motions say.
What lies behind his resolve is perseverance of ideology,. persistence of goal. He's ascetic and satisfied with little, said. one senior Hamas official who asked for anonymity.
FROM SACKCLOTH TO LEADER
Before the war, Sinwar would sometimes tell of his early. life in Gaza during years of Israeli occupation, as soon as saying. his mom made clothing from empty U.N. food-aid sacks,. according to Gaza resident Wissam Ibrahim, who has satisfied him.
In a semi-autobiographical unique composed in jail, Sinwar. explained scenes of troops bulldozing Palestinian homes, like. a beast crushing its prey's bones, before Israel withdrew. from Gaza in 2005.
A ruthless enforcer charged with penalizing Palestinians. presumed of informing for Israel, Sinwar then made his name as. a jail leader, emerging as a street hero from a 22-year. Israeli sentence for masterminding the kidnapping and murder of. 2 Israeli soldiers and 4 Palestinians.
He then quickly increased to the top of the Hamas ranks.
His understanding of the everyday hardships and ruthless. realities in Gaza was well-received by Gazans and made individuals. feel at ease, four journalists and three Hamas authorities stated,. despite his terrifying credibility and explosive anger.
Sinwar is concerned by Arab and Palestinian officials as the. architect of Hamas' technique and military power, reinforced. through his strong ties with Iran, which he visited in 2012.
Before managing the Oct. 7 raids Sinwar made no secret. of his desire to strike his opponent hard.
In a speech the year before, he swore to send a flood of. fighters and rockets to Israel, hinting at a war that would. either unite the world to establish a Palestinian state on land. Israel inhabited in 1967, or leave the Jewish nation separated on. the international stage.
By the time of the speech, Sinwar and Deif had currently. hatched secret strategies for the assault. They were even running. training drills in public that simulated such an attack.
His objectives have actually not been fulfilled. While the issue is once. once again at the top of the international agenda, the prospect of a. Palestinian nation is as far-off as ever.
' BY REQUIRE, NOT BY NEGOTIATIONS'
Sinwar was jailed in 1988 and sentenced to 4 life. sentences, implicated of managing the abduction and murder of. two Israeli soldiers and four believed Palestinian informants.
Michael Koubi, a previous official with Israel's Shin Bet. security agency who questioned Sinwar for 180 hours in prison,. said Sinwar plainly stood apart for his capability to daunt and. command.
Koubi as soon as asked the militant, then aged 28 or 29, why he. was not already wed. He informed me Hamas is my better half, Hamas is. my child. Hamas for me is everything. Sinwar married after his. release from jail in 2011 and has 3 kids.
Yuval Bitton, who was Sinwar's dental expert before being. recruited by Israel's prison intelligence service, recounted. questioning Sinwar about the futility of Hamas's method when. they kidnapped Israeli soldier Gilat Shalit with the objective of. utilizing him as take advantage of for the release of Palestinian prisoners.
Israel's responded by getting in Gaza, killing hundreds Hamas. fighters and countless civilians.
I said to Sinwar, 'Tell me, is it worth 10,000 innocent. individuals to pass away in order to free 100 detainees, Sinwar's reply. was unequivocal, even 100,000 is worth it.
Nabih Awadah, a previous Lebanese Communist militant who was. imprisoned with Sinwar in Ashkelon in between 1991-95, stated Sinwar. viewed the 1993 Oslo peace accords in between Israel and the. Palestinian Authority as disastrous and a ruse by Israel,. which he said would only relinquish Palestinian land by force,. not by negotiations.
Calling him willful and dogmatic, Awadah said Sinwar would. illuminate with pleasure whenever he became aware of attacks versus Israelis. by Hamas or Lebanon's Hezbollah group. For him, military. conflict was the only path to liberating Palestine from. Israeli occupation.
Awadah stated Sinwar was an prominent design to all. prisoners, even those who were not Islamists or religious.. In prison, he continued to pursue Palestinian spies, Awadah. said. His sharp impulses and care allowed him to identify. and expose Shin Bet informants penetrated in the prison.
Sinwar likewise used his time in jail to find out fluent Hebrew.
Awadah stated Sinwar regularly recalled that Ashkelon, where. they were put behind bars together, was his household's ancestral. hometown.
When playing table tennis in the courtyard of Ashkelon jail,. in present day Israel, Sinwar would typically play barefoot, saying. he wanted his feet to touch the land of Palestine.
Sinwar often informed us: 'I'm not in jail; I'm on my land. I. am totally free here, in my country.'.
(source: Reuters)