Australia

Australian miner Whitehaven Coal (OTC:WHITF) has announced the sale of a 30% stake in its Blackwater metallurgical coal mine, located near Emerald in Queensland. The deal, valued at $1.08 billion, involves selling a 20% stake to Nippon Steel (OTC:NISTF) and a 10% stake to JFE Steel, two leading...

Uranium explorers are calling on Western Australian authorities to lift the ban on uranium mining to capitalize on rising global demand and prices. Australia holds nearly a third of the world's known uranium reserves, yet only two out of its eight states and territories, South Australia and the...

Long-term uranium contract prices have surged to over 16-year highs, driven by supply uncertainties and increasing demand, as the industry scrambles to prepare for powering AI data centers. Other factors, such as supply chain disruptions, geopolitical uncertainties, and environmental mining...

The market for coal used to make steel is in the summer doldrums, but supply outages in Australia and the United States are providing underlying tightness that could cause prices to spike in the late summer and fall once Asian steelmakers start restocking. Mine fires in Australia and West Virginia...

South32 (OTC:SHTLF) shares plummeted after the company announced an $818 million impairment charge for two important assets. At last check Monday, the company’s stock was down 11.13%, trading at $10.02 per share. The Worsley alumina project, located southwest of Perth, includes the Boddington...

Australian iron ore mining giant Fortescue (OTC:FSUMF) has hit the brakes on ambitious plans to transform into a green hydrogen leader. Management has announced an overhaul after a turbulent period that saw multiple senior executive departures. While iron ore still generates most of the company's...

A global mining leader, Rio Tinto (NYSE:RIO), reviewed the first half of the year and evaluated progress across key projects such as Simandou in Guinea, Oyu Tolgoi in Mongolia, and Jadar in Serbia. “We are growing with discipline in the materials the world needs for the energy transition,...

BHP Group (NYSE:BHP), the world's largest miner, suspended its Western Australia nickel operations due to a significant decline in nickel prices and a global oversupply. This decision lingered since First Quantum's Ravensthorpe mine shut down in the same region in April. "Like others in the...

BHP (NYSE:BHP) announced a 20% reduction in employee incentives after failing to meet its performance goals for the fiscal year. What Happened: The world's largest miner was hit with a $2.5 billion impairment charge on its nickel business in Western Australia and additional costs related to the...

Editor’s Note: This story has been updated with a statement from a PayPal spokesperson. In a recent development, the federal court of Australia has ruled that the local unit of PayPal Holdings Inc. (NASDAQ:PYPL) had an unfair term in its contracts with small businesses, leading to instances...

Australian lithium producer Liontown Resources (OTC:LINRF) has signed a $250 million strategic partnership with South Korean battery producer LG Energy Solution. This strategic partnership aims to secure a steady supply of lithium, a critical material for electric vehicles and other green...

Australian Prime Minister Anthony Albanese criticized Meta Platforms Inc. (NASDAQ:META) for its arrogant and irresponsible behavior. The PM has urged the social media giant to continue paying local media organizations for their content. What Happened: Speaking at a media conference in Melbourne on...

Meta Platforms Inc. (NASDAQ:META) has issued a warning to the Australian government. The company is considering blocking news content from its platform in Australia if it is required to pay licensing fees. What Happened: Meta’s regional policy director, Mia Garlick, made this statement during...

The leading global miner, BHP Group Ltd (NYSE:BHP), has announced an anticipated increase in operational carbon emissions for 2024. Vice President for Climate Graham Winkleman revealed the news during an investor briefing on Wednesday. Despite this setback, BHP remains committed to reducing its...

Editor's Note: This article has been updated with additional details. Julian Assange, the founder of WikiLeaks, has been freed from the Belmarsh maximum security prison in the UK and he is now on his way to Australia. What Happened: Assange, 52, is set to admit to a single criminal charge of...