May
Glencore primes its Australian DirtyCo for local sharemarket listing
Brokers told clients the company’s decision to shift unwanted assets into an Australian subsidiary could lead to a tax-effective ASX spin-off.
Glencore shifts $30b in assets to Australia in major restructure
The move prepares the way for the commodities giant to strike a future mega-merger by placing unattractive South African assets and coal mines in one vehicle.
Westpac shifts climate targets and eases path for more lending to gas
The bank, which lends to Woodside Energy, will change lending rules even as it demands better energy transition plan disclosures from borrowers.
AustralianSuper invests in Whitehaven Coal, says it is ESG consistent
The big investor says it was drawn to the miner’s shift to metallurgical coal and remains committed to net zero by 2050 after buying shares last week.
New Hope’s boom days over as coal price slump hits sales, shares
The ASX-listed miner’s earnings for the first quarter are about half what some had forecast.
Orica battles TNT shortage as war in Ukraine strains global supply
Solid earnings growth in the first half sent Orica’s shares higher, but the company warned of a global explosives shortage worsened by the Ukraine war.
Peabody halts $5b capital raise to buy Anglo American’s Qld coal mines
Peabody is threatening to walk away from the deal over a key fire-damaged mine.
Aurizon slashes 200 jobs as Whyalla impairment bites
The rail freight group is hauling less bulk commodities, partly because of big customers such as the Whyalla Steelworks being in administration.
April
Big mining’s decade of inflationary pressure is ending
Market updates from Fortescue, Whitehaven and Stanmore Coal suggest production costs at Australian mines are falling after almost a decade of inflation.
Japanese firm set for haircut on NSW coal mine sale
A 32 per cent slump in coal prices in the state over the past year has come at the wrong time for Chugoku Electric as it tries to sell its stake in the Boggabri mine.
NSW backs BHP’s early coal mine closure
Decades of coal production will be kept in the ground after the NSW government backed BHP’s plan to shut a mine early and convert to clean energy generation.
Australian exports safe from Trump’s ‘beautiful coal’ dream
The president’s push to reinvigorate the US coal industry will not seriously affect Australia dominance of exports to China, experts say, but prices are likely to fall further.
Trump cites Australia in his ‘beautiful clean coal’ energy overhaul
US President and fossil fuel advocate Donald Trump has noted Australia’s sales to China when signing executive orders to turbocharge coal production.
Advice for commodities investors? Sell, sell, then keep selling
Major Wall Street brokers are telling clients to resist the temptation to buy into metals and oil as prices fall, warning economic disruption is not over.
BHP says China demand for iron ore to remain strong for several years
BHP executive Rag Udd says growth in the production of electric vehicles and other machinery in China is supporting the country’s demand for iron ore.
iPartners joins Bis Industries’ $110m debt refinancing
Under the deal, Carlyle and Varde has committed to injecting $50 million to $60 million to allow for a full refinancing and to leave Bis with some working capital.
March
BHP’s Mount Arthur closure plans face pushback from politicians, union
The massive thermal coal operation would be closed at the end of the decade under plans lodged by the resources giant, which wants to build a hydroelectric dam.
New Hope soars on signs the worst is over for coal prices
Thermal coal prices may have slumped 77 per cent over the past two-and-a-half years, but New Hope defied the trend with higher volumes, profits and dividends.
Peabody Energy shops minority stake in $US1.6b Centurion coal mine
Potential bidders have been told the mine is now derisked, with first coal due early next year.
Forrest allegedly chased coal plant buy to ‘influence’ key US senator
Internal documents suggest Fortescue considered a $200 million deal based on its relationship with a US politician, whose IRA support was crucial to it passing.