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MARKETS WRAPUS-Iran peace deal sends ASX soaring

A US-Iran peace deal has sent the ASX 200 to a two-month high while pushing oil to a three-month low.

Tia Clarkson-Pascoe

Gina Rinehart and Elon Musk. Hancock Prospecting

BUSINESSPremiumRinehart pours $1.4bn into Musk’s SpaceX

Australia’s richest woman has secured a staggering US$1bn investment in Elon Musk’s SpaceX during the company’s record-breaking IPO.

David Hannant

Gina Rinehart and Elon Musk

IPOsCommentsPremiumRinehart sinks reported $1.4 billion into SpaceX IPO

The WA billionaire has lauded SpaceX as an exceptionally led company operating in crucial sectors, while flagging collaboration between the US group and her Hancock Prospecting mining and agribusiness flagship.

Sean Smith

The benchmark S&P/ASX200 index jumped higher in the first moments of trade on Monday.

BusinessPremiumAustralian shares rally as US, Iran reach peace deal

Aussie stocks are surging on news the US and Iran have reached a truce that could end the Persian Gulf energy crisis and cap the impact on global inflation.

Adrian Black

Nationals WA leader Shane Love.

Uranium miningPremiumWA Opposition aim to lift uranium mining ban

The WA Liberals and Nationals say they would lift the State Labor Government’s uranium mining ban if elected to govern in 2029, as figures show the price of the nuclear fuel has doubled in the past four years.

Neil Watkinson

Fortescue chair and founder Andrew Forrest.

MiningCommentsPremiumFMG inks historic deal with Juukan Gorge traditional owners

Andrew Forrest’s Fortescue has inked a ‘co-management’ deal with the traditional owners of Juukan Gorge, which was infamously destroyed by Rio Tinto in 2020.

Cheyanne Enciso

The FMG Nicola was about 5 nautical miles out to sea - but still in the main channel at Port Hedland - on February 7 last year when the ship’s main engine suddenly shut down.

MiningCommentsPremiumFull FMG ship risked grounding in awkward engine bungle

A fully-laden Fortescue iron ore bulk carrier came close to scraping along the main channel of Australia’s busiest bulk export port during an unexpected engine shutdown.

Rebecca Le May

Minister for Resources Madeleine King

MiningPremiumKing sides with striking unions, takes aim at BHP

Federal Resources Minister Madeleine King is siding with unionists about to go on strike despite industry warnings that WA’s ‘most important economic asset is being held hostage’.

Adrian Rauso

Greenbushes lithium plant fire

MiningCommentsPremiumScale of Greenbushes lithium plant blaze revealed

New vision shows the intensity of a fire that ripped through a recently completed $880 million lithium processing plant at the famed Greenbushes mine.

Adrian Rauso

Underground activity at Westgold Resources’ Beta Hunt gold mine near Kambalda.

Mining servicesPremiumSodexo wins $100m village services contract with Westgold

A renewed five-year, five-village agreement will see Sodexo expand its delivery of integrated village services for Westgold Resources sites in the Goldfields and Murchison.

Neil Watkinson

Nimy Resources managing director Luke Hampson and Curtin University executive director commercialisation Rohan McDougall.

Critical mineralsPremiumWASM researcher to lead gallium research project

A WA School of Mines researcher will lead a two-year project into processing of the in-demand critical mineral gallium, which is crucial to the world’s high-tech and defence industries.

Neil Watkinson

Mt Gibson's Koolan Island project in the Kimberley.

MiningCommentsPremiumMGX offloads Koolan Island iron ore mine

MGX Resources has offloaded its Koolan Island iron ore mine in the Kimberley to infrastructure and logistics group Crestlink.

Cheyanne Enciso

Port Hedland is the world’s largest bulk iron ore export port, with total annual throughput of 577.7 million tonnes last financial year worth an estimated $115.8 billion.

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BHP workers at Port Hedland to strike after pay deal impasse

Unions have voted to down tools at Australia’s biggest iron ore port after a stalemate with BHP over a new pay deal, with the peak sector body warning the nation’s top economic assets were ‘being held hostage’.

Ryan Johnson and Rebecca Le May

The Super Pit at the edge of Kalgoorlie was previously a joint venture.

MiningCommentsPremiumUS-based activist investor heaps pressure on WA gold miner

US-based Elliott Investment Management continues its attack on beleaguered Super Pit owner Northern Star Resources, saying its board ‘doesn’t understand’ how much shareholder trust has been lost.

Rebecca Le May

Alcoa’s Pinjarra refinery was hit by a gas supply disruption.

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Alcoa’s shock admission about WA alumina refineries

American manufacturer Alcoa has declared its two remaining refineries in WA are ‘really challenged’ but ruled out the plants following the Kwinana refinery into closure ... for now.

Matt Mckenzie and Jacob Lorinc

Northern Star’s outgoing CEO Stuart Tonkin.

MiningCommentsPremiumNorthern Star ‘doesn’t understand’ scale of loss of trust

Activist investor Elliott Investment Management has hit back at Northern Star Resources by urging the beleaguered miner’s board to take urgent action and reconsider a sale as its valuation flounders.

Paul-Alain Hunt

An autonomous ore haulage truck at Norton Gold Fields’ Golden Cities operation north of Kalgoorlie-Boulder.

driverless trucksPremiumAutonomous haulage drives Golden Cities mine site forward

Norton Gold Fields says it has successfully integrated driverless ore haulage trucks into its Golden Cities operation north of Kalgoorlie-Boulder.

Neil Watkinson

Northern Star Resources has told agitator investor Elliott Investment Management that it is not for sale

MiningCommentsPremiumNot for sale: Northern Star rejects activist’s campaign

Chair Michael Chaney rubbished an activist investor’s suggestion that the gold major should put itself up for sale or offload underperforming mines, setting the stage for a shareholder showdown.

Adrian Rauso

Greenbushes lithium mine

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Fire rips through lithium mine’s new $880m plant

A fire at the newest Greenbushes lithium processing plant adds to a growing pile of issues plaguing Australia’s most profitable lithium mine.

Adrian Rauso

Develop Global managing director Bill Beament.

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Beament’s Develop Global pulls trigger on two WA projects

Bill Beament’s Develop Global has pulled the trigger on two new ‘transformational’ critical minerals projects in WA after securing a $570 million financing package through global commodities trader Trafigura.

Daniel Newell

MiningCommentsPremiumRoyal celebration as Wyatt ups his stake in Rio Tinto

Former WA treasurer Ben Wyatt — who this week was named an officer of the Order of Australia — has splashed out more than $50,000 to up his stake in Rio Tinto.

Daniel Newell

Forrestania Resources has launched a $93.5 million takeover of Zenith Minerals.

Gold consolidationPremiumForrestania launches $93.5m scrip takeover of Zenith

Forrestania Resources has launched a $93.5 million takeover of Zenith Minerals that both companies say will strengthen their ability to develop gold mining operations in the area south of Southern Cross.

Neil Watkinson

Maritana Minerals managing director and chief executive Grant Haywood at the Black Swan processing plant 50km north-east of Kalgoorlie-Boulder.

More capacityPremiumBlack Swan can have higher throughput, new study says

A new study has identified the opportunity for a higher throughput at the Black Swan processing facility, which in turn would likely increase the capital cost of the nickel plant conversion.

Neil Watkinson

Simcoa was once heavily targeted by the Nannas for Native Forests group. Pictured is a protest in 2021.

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Smelter near Bunbury sacked workers despite grant offer

Australia’s only silicon smelter cut jobs and scaled back production just a year after being selected for a $40 million green energy grant from Federal taxpayers aimed at boosting employment.

Adrian Rauso