Yesterday
Latest MinRes truck crash heaps more pressure on loss-making miner
A sixth jumbo road train has rolled on the critical haul network in WA’s Pilbara, raising questions over the miner’s ability to hit its shipment targets
This Month
Goldman sees risk of iron ore falling below $US80 a tonne
Goldman Sachs expects iron ore to average about $85 a tonne in the fourth quarter, though there’s a risk it could briefly trade even lower.
Recession fears | The business driving F1 | Tesla’s Musk problem
We break down an incredible week on markets, explain how super became the poster child for bad corporate governance and take you inside the F1 money machine.
Billionaire Nicola Forrest appoints UBank boss to run family office
The country’s second-richest woman has been building up the charitable and investment sides of her family office, Coaxial Foundation and Coaxial Ventures.
China’s cuts to steel production pile pressure on Australian iron ore
Fund managers say the start of production at new mines in Africa, including Rio Tinto’s Simandou project, will do more to push prices down long-term.
Trump and your super | Good news on petrol | Inside the AFR’s Summit
What Trump’s historic moves mean for your super savings; what a three-year low in oil prices mean for you at the petrol pump; and inside the Financial Review’s Business Summit.
Rio Tinto signs off on new $2.8b Pilbara iron ore project
The resources giant has flagged the need to commission a mine every year for the remainder of this decade to ensure production and ore quality do not fall.
Whyalla steelworks sought $144m cash for steel that did not exist yet
Administrator Mark Mentha says the first week of stabilising the company, including unravelling millions in prepayments, was like “drinking out of a fire hose”.
Investors warn Rio Tinto executives to scrap billion-dollar issuance
Over dinner in Sydney last week, fund managers urged chief financial officer Peter Cunningham to ditch the plans to boost the Australian register.
February
Billionaire Mark Creasy strikes third big Pilbara deal this month
The legendary prospector has agreed to sell the iron ore aspirant to ASX-listed exporter Fenix, marking the sector’s latest West Australian buyout.
Domain takeover | Whyalla wipeout | Larry Fink’s housing fix
James and Anthony break down the steelworks drama, ask whether the banks’ bull run is ending, and unpack a bold idea for mortgages.
MinRes v the market: Ellison taken to the cliff edge
The mining magnate’s attempts to calm market fears resulted in MinRes shares cratering.
Iron ore hunger drove Japan’s monumental $8.4b Pilbara buy
Japanese firms have spent more than $10 billion on Australian iron ore and coal mines in the past six months as geopolitical and commercial ties converge.
Japan turns up to iron ore party as it winds down
Japanese buyers are known for three things in Australian deals: clean bids, strategic moves and sometimes being late to the party. Its $8 billion bet on the Pilbara could be all three.
Investors dump iron ore stocks as big miners enter a new era
The major producers are posting lower profits and slashing dividends which is expected to accelerate as a new wave of iron ore supply hits prices.
The real reason for Mitsui Japan’s $8.4b iron ore grab
The trading house aims to secure its future steel supplies to South-East Asia to counter China’s influence.
Fortescue reconsiders US hydrogen timeline after Trump win
The Andrew Forrest-led mining giant has cut its green energy capex and is considering pausing $1 billion of approved hydrogen projects in Australia and the US.
Rio Tinto cuts dividends and jobs as Pilbara costs surge
The miner will pay its lowest dividend in seven years and enact “strict” cost controls on its flagship iron ore division, ending a golden era of returns.
Rio Tinto just pulled off a little miracle
Rio CEO Jakob Stausholm has quietly engineered an impressive strategic shift inside the mining giant. Its financial results for calendar 2024 tell the story.
Reclusive iron ore magnates $8b richer after selling to Japan’s Mitsui
The Bennett and Wright families are the heirs to the fortune made by Peter Wright, the business partner of mining magnate Lang Hancock.