This Month
Lynas profit collapses as China keeps lid on rare earths prices
The development comes despite efforts by Western governments to broaden the global supply of critical minerals.
Andrew Forrest takes control of rare earths mine, magnet maker
While his flagship company Fortescue retreats from hydrogen, Andrew Forrest’s private company has taken control of some rare earths mining and processing assets.
Ukraine rejects audacious Trump demand for half its mineral wealth
The Ukrainian president has rejected the US bid and is trying to negotiate a better deal that includes security guarantees against Russia.
Critical minerals deal will give Kyiv postwar ‘security shield’: US
Ukraine’s president says he is ready to do a deal to open mineral resources to US investment, as he vies for Donald Trump’s backing in the war against Russia.
Trump says he wants Ukraine to supply US with rare earths
“We’re putting in hundreds of billions of dollars” into defending Ukraine, the US president said, adding he wants security of supply of rare earths in return.
January
The China commodities super-cycle is over. Will there be another boom?
China’s massive industrialisation and urbanisation drove a huge commodities boom that has run its course, but some executives are hopeful it will be replaced.
Labor boosts backing of Rinehart-backed Arafura to $1b
In its biggest outlay to date, the $15 billion National Reconstruction Fund has agreed to take a $200 million equity stake in the rare earths player.
Julie Bishop hired to advise ASX-listed Greenland explorer
Energy Transition Minerals has become the latest mining client to join the former foreign minister’s consulting stable, which includes Mineral Resources.
Donald Trump jnr goes window-shopping for his dad in Greenland
The gambit comes at a tricky time for Copenhagen, as leaders on the mineral-rich island push harder for full independence from Denmark.
December 2024
Japanese giant buys Aussie battery start-up in coal to minerals pivot
Idemitsu has taken majority control of Vecco Group as it tries to move towards investments in critical minerals and energy storage.
I sent Andrew Forrest 50 hard questions. He invited me to have a talk
After months of reporting, and only carefully worded written responses from Fortescue, I found myself with the iron ore billionaire on the company jet in the Pilbara.
Taxpayers have just made a $1.65b bet on a rare earths green premium
It’s the recipient of the second-biggest government loan in history. For the Eneabba project to succeed, everything about how minerals are priced must change.
Iluka lands $400m taxpayer loan to get rare earth refinery on track
But investors are worried that the cost of the Eneabba project in Western Australia will make it hard for the company to make a return once it is operational.
November 2024
Northern Minerals narrowly fends off mystery board appointment
The miner has avoided a relatively unknown director being elected, just weeks after Treasury flagged it could put new shareholders under the microscope over suspected links to China.
Forrest hands Hastings a reprieve after chairman capitulates on debt
The billionaire’s private Wyloo Metals business has agreed to withdraw a default notice that would have pushed the rare earths explorer into insolvency.
Forrest’s Wyloo declares solvency concerns over Hastings rare earths
Andrew Forrest’s Wyloo Metals has challenged directors of rare earths aspirant Hastings to explain how their debt-laden company remains solvent.
Forrest debt feud threatens future of rare earths hopeful Hastings
The West Australian developer took a loan from its chairman, angering its biggest financier, the billionaire businessman’s private mining vehicle.
Titanium play IperionX grabs fundie attention
The critical minerals darling has popped up in the portfolios of small-cap managers Regal, Pengana and Terra Capital.
October 2024
Lynas Rare Earths cuts production as prices languish
Lynas Rare Earths has posted lower quarterly revenue and cut production as demand for electric vehicles slows.
Rare earths hopeful Astron Corp launches cash call
The equity raise comes after Astron tasked ICA Partners to secure debt for its Donald project, which will require $450 million to $490 million in capital expenditure.