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Mining/Energy/Resources:
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Gold: Australia and World
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That Glitters Mid Week Edition Under The Media Man
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Mining/Energy/Resources:
Australia and World
October
2025
October
17, 2025
(New
York, Wall St)
Mining
Stocks: (Near Live)
BHP
Group Ltd $43.60 -0.17 -0.39%
Fortescue Ltd $20.18 +0.37 +1.87%
Rio Tinto $130.88 +1.61 +1.25%
Northern Star $26.05 +0.59 +2.32%
Evolution Mining Ltd $11.67 +0.22 +1.92%
Lynas Rare Earths Ltd $19.24 -1.16 -5.69%
Mineral Resources Ltd $41.77 -0.72 -1.69%
News
Gold
Bulls have no choice but to push
Gold's
rally to record highs above $4,300 per ounce resulted
from a debasement trade. Governments cannot cope with
budget deficits, are accumulating debt and demanding
that central banks cut interest rates, as in the US,
or keep them low, as in Japan. As a result, investors
are losing confidence in government bonds and currencies.
They are looking for alternatives and turning their
attention to precious metals.
As
a result, gold has been gaining for the last nine
weeks, the fifth time in the history of free currency
conversion since the 1970s. However, there has never
been a 10-week consecutive growth period. The gap
from the 200-week moving average also shows the excessiveness
of the rally. The spot price at its peak exceeded
this line by 90%. There has only been one larger gap
once before, in 1980. At the very least, the market
needs a technical respite. But historically, its beginning
could be the start of a significant multi-year reversal.
Now, we are on the side of the bears, but at the same
time, we understand that the bulls simply have no
choice but to push the price further up, as stopping
would ruin the whole game.
Each
time, gold finds a new driver of growth. In the summer,
there were expectations of a resumption of the Fed's
easing cycle. To be cont... (FxPro)
News
Rare
earths strategy
Prime
Minister Anthony Albanese should tell President Donald
Trump at their meeting next week that Australia can
solve the western world's heavy rare earths crisis.
He must also outline eight steps that will help to
counter China's dominance of the heavy rare earths
market, particularly terbium and dysprosium. Amongst
other things, Haoma Mining's pilot plant for its Elazac
process - which is currently extracting gold and platinum
from Bamboo Creek tailings - should be expanded more
rapidly; Elazac can also extract terbium and dysprosium
concentrate, which can then be shipped to Iluka Resources'
Eneabba plant or the US for refining. Haoma also has
a major area of prospective heavy rare earth ore in
the Bamboo Creek Valley; analysis of bulk samples
suggests that these terbium grades are much higher
than other Australian mines. (RMS)
News
Rinehart's
rare earths shares top $3.5b as Trump needles China
Hancock
Prospecting has increased its exposure to the rare
earths sector after participating in St George Mining's
$72.5m capital raising. The latter had initially sought
to raise $40m, but increased this to $50m in response
to strong demand from institutional investors. St
George subsequently also agreed to issue Hancock with
$22.5m worth of shares, lifting the Gina Rinehart-controlled
company's stake to around six per cent. St George
will use the proceeds of the capital raising to expand
its Araxa project in Brazil. Hancock's other investments
in the sector include Lynas Rare Earths, Arafura Rare
Earths and US-based MP Materials. (RMS)
News
PM
has his work cut out striking rare earths deal with
Trump
Prime
Minister Anthony Albanese is hoping to secure a deal
with US President Donald Trump regarding the US getting
access to Australia's rare earths, but it may not
be as easy as Albanese might hope. The Trump administration
is seen as being divided into two camps on the issue,
namely the resource nationalists and the economic
rationalists, and the first one is currently holding
sway. They believe the US should create an end-to-end
critical mineral supply chain, and it was probably
behind the recent US government investments and equity
stakes in US critical minerals mining firms Lithium
Americas and MP Materials. The economic rationalists
camp believes the US needs the help of its allies
to meet its critical mineral needs, at least in the
short term, with it being noted it can take more than
20 years to open a new mine in the US. (RMS)
News
'Lethal
warming' from Woodside gas mega-project
A
study published in Nature journal Climate Action claims
the emissions caused by Woodside Energy's Scarborough
gas project will increase global warming to the extent
that it will cause an additional 484 heat-related
deaths in Europe. The study was partly financed by
the Minderoo Foundation, a philanthropic foundation
established by Andrew Forrest, who has a long history
of criticising Woodside and its CEO Meg O'Neill. Located
off the coast of Western Australia, the $19.5 billion
Scarborough project is due to begin exporting LNG
late next year. (RMS)
News
Minerals/Politics
Stockpile
of critical metals urgent: miners
The
federal government aims to establish its $1.2bn critical
minerals strategic reserve by late 2026. However,
the mining industry has warned the government that
it must act more quickly to build the minerals stockpile,
contending that another mining nation could potentially
trump Australia and become a supplier of choice to
defence partners such as the US and Japan. Meanwhile,
the industry is believed to have been told that the
government may use contracts for difference to set
a 'floor price' for critical minerals. The strategic
reserve is expected to a priority when Prime Minister
Anthony Albanese meets US President Donald Trump at
the White House next week. (RMS)
News
Australian/Asia
Pacific News
Rio
set to shutter Tomago smelter
The
Tomago aluminium smelter's coal-fired power supply
contract with AGL Energy is set to expire in 2028,
and it faces the prospect of a massive increase in
power costs under any new supply agreement. This makes
it highly likely that Rio Tinto and its partners in
Tomago will permanently shut down the NSW smelter
in 2028, unless investment in renewable energy in
the state is ramped up significantly in the next few
years. The cost of electricity is also a major threat
to the future of Rio Tinto's Bell Bay aluminium smelter
in Tasmania, with its current supply deal to expire
at the end of this year. The Tomago smelter employs
more than 1,000 people. (RMS)
News
Ellison
loses key ally in MinRes board exodus
Iron
ore and lithium producer Mineral Resources has appointed
Colin Moorhead and Susan Ferrier as non-executive
directors. Their recruitment follows the departure
of six members of Mineral Resources' board in recent
months; this includes Zimi Meka, whose resignation
was announced on Friday. The recent departures mean
that only three of the nine MinRes directors who attended
its 2024 AGM will front shareholders at this year's
meeting; they include embattled MD Chris Ellison,
who has previously committed to stepping down by mid-2026.
(RMS)
News
Forrests
sell out of magnet maker as China ups rare earths
heat
Wyloo
Metals has sold its near 19.9 per cent stake in Neo
Performance Materials, with Wyloo being the Forrest
family's private mining company. With Neo being one
of the few Western companies using rare earths to
produce permanent magnets, Wyloo sought to take advantage
in a jump in its share price that has resulted from
the trade spat between China and the US over the supply
of rare earths and permanent magnets, with Wyloo selling
its stake in Neo for total proceeds of around $182
million. (RMS)
News
Rare
earths market splits into light and medium-heavy segments
There
are increasing signs that the rare earths market is
splitting into two distinct segments, namely light
elements such as as neodymium and praseodymium, and
medium-heavy elements such as dysprosium and terbium.
The Shanghai Metal Market suggests that while demand
for light elements remains stable, demand for medium-heavy
elements is weak, and procurement teams need to differentiate
between these segments when negotiating contracts.
US buyers need to cultivate relationships with non-Chinese
suppliers, as well as keeping an eye on government
equity moves, as Washington's willingness to take
direct stakes in projects like Tanbreez suggests future
deals are likely.
News
Rio,
Japanese in Pilbara mine deal
Rio
Tinto has secured state and federal government approvals
to develop new iron ore deposits at the West Angelas
hub in the Pilbara. Rio Tinto and its Robe River joint
venture partners, Mitsui and Nippon Steel, will invest
$US733m ($1.1bn) to expand the West Angelas mine,
with Rio Tinto to contribute $US389m. The expansion
of West Angelas will maintain its annual production
capacity of 35 million tonnes. Rio Tinto launched
its Western Range iron ore joint venture with China-based
Baowu in June, as part of its ongoing commitment to
the Pilbara. (RMS)
News
Loophole
use in $2.4b gold deal leads to reform calls
Shares
in gold miner Predictive Discovery have rallied in
the wake of a proposed merger with Toronto-listed
Robex. Predictive's shareholders will control 51 per
cent of the merged group, although they will not be
given a vote on the deal. In contrast, the merger
will need to be approved by at least two-thirds of
Robex shareholders. The proposed merger has prompted
renewed scrutiny of the ASX's listing rules, which
allow companies to waive the requirement for a shareholder
vote under certain circumstances. Simon Mawhinney
from Allan Gray Australia has likened the Predictive
deal to James Hardie's merger with Azek earlier this
year. (RMS)
News
Gold
Mining News
Gold
prices continue their record-breaking rally, hitting
a new high of $3,949.71 per ounce amid central bank
buying, geopolitical tensions, and expectations of
further U.S. interest rate cuts. This surge is boosting
the sector, with miners' stocks outperforming AI-driven
chip rallies—gold equities up 135% year-to-date,
led by heavyweights like Newmont and Agnico Eagle,
whose shares have more than doubled. However, analysts
warn of a potential production "cliff" after
2025, with global output peaking at ~3,250 tonnes
(105 million oz.) next year before a decline due to
dwindling reserves and limited new projects.
News
GoldMining
Inc. launches 2025 exploration at São Jorge,
Brazil
Comprehensive
program targets copper-gold zones; recent drilling
hit 2.79 g/t AuEq over 79m, including antimony mineralization.
Company also expands land package and updates mineral
resource estimates.
News
Nevada
Gold Mines deploys autonomous haul trucks
Fleet
of 300- and 230-tonne trucks automated using Komatsu's
FrontRunner system across U.S. surface operations
for efficiency gains.
News
Calls
for uranium listing as US goes all out on nuclear
power
Shadow
energy minister Dan Tehan says White House officials
emphasised during his recent visit to the US thart
a secure supply of uranium is a priority for the Trump
administration. Tehan contends that the federal government
should therefore add uranium to its critical minerals
list, and include it in any deal with the US for an
exemption from its reciprocal tariffs regime. Australia
accounts for about one-third of the world's known
reserves, although the nation's exports of unenriched
uranium comprises just 10 per cent of global supply
at present. Tehan recently reiterated that nuclear
power will remain part of the Coalition's energy policy.
(RMS)
News
BHP
salutes Japan 'trust'
BHP's
president of its Australian operations, Geraldine
Slattery, addressed an Australia-Japan business conference
on Monday. She declined to comment on unconfirmed
reports that China has banned the resources group's
Pilbara iron ore shipments. Instead, she emphasised
BHP's "deep" relationship with Japan and
the free-trade relations between the two nations.
Slattery highlighted the level of trust and transparency
in the relationship between Australia and Japan. (RMS)
News
MinRes
appoints company secretary
Iron
ore and lithium producer Mineral Resources has appointed
Sarah Standish as its joint company secretary. Standish
will replace CFO Mark Wilson in the role, which she
will share with Derek Oelofse. Mineral Resources has
released a statement in which it notes that Standish
has 20 years of experience in legal, governance, risk
and compliance functions at both ASX-listed and international
companies in the mining and energy sectors. Her appointment
has coincided with the Australian Securities &
Investments Commission investigation into corporate
governance issues at Mineral Resources. (RMS)
News
Upstart
glisters among surging gold miners
The
gold price has risen by almost 50 per cent in US dollar
terms so far in 2025. This has in turn boosted the
share prices of Australian gold producers; Northern
Star Resources' market capitalisation has increased
by 60 per cent so far in 2025, reaching a record high
of $35bn last week. Meanwhile, Westgold Resources'
share price rose by 24 per cent last week, lifting
its market capitalisation from $4bn to $5.1bn; this
followed its announcement of plans to lift gold production
by 45 per cent to 470,000 ounces over the next three
years. (RMS)
News
Lynas
revisited: Can it reclaim its crown in rare earths?
Lynas
Rare Earths is one of the few players in the sector
outside China with genuine scale, but it is now at
a critical juncture. A vertically integrated business
model allows Lynas to produce a range of refined products,
particularly neodymium and praseodymium. However,
its product mix has leaned heavily toward light rare
earths, leaving it exposed to pricing volatility.
The most notable development in 2025 has been Lynas's
breakthrough into heavy rare earths; the company announced
its first production of dysprosium oxide in May, followed
by terbium oxide at its Malaysian plant in June. This
milestone currently makes Lynas the only commercial-scale
producer of separated heavy rare earths outside China.
Potential risks for Lynas include cost inflation,
the ongoing threat of competition from China and uncertainty
regarding the future of its licence in Malaysia. (RMS)
News
MinRes
scores legal win on port levies
The
Supreme Court of Western Australia has ruled that
Mineral Resources and its lawyers should be allowed
to see details of a controversial agreement between
the state government and Chevron. The state-owned
Pilbara Ports Authority had sought to block access
to the agreement, which requires MinRes to pay a levy
for using a cargo wharf and part of a shipping channel
that had been dredged by Chevron for its Wheatstone
LNG project. Chevron also built the Port of Ashburton,
which MinRes now uses to export iron ore from its
Onslow Iron project. (RMS)
News
Rare
earth magnets have become the new battleground for
global power
The
unique properties of rare earth magnets have resulted
in them becoming strategic assets, and supply chain
control is increasingly being viewed as a matter of
national security. China dominates the global production
and supply of rare earth magnets, and this dependence
on China was underlined earlier this year when the
nation imposed export controls. Four rare earth magnet
factories are currently under construction in the
US, but China has been investing in rare earths processing
for decades; it also manufactures most of the world's
refining equipment and employs most of the specialised
technicians, so ending China's dominance is likely
to take years. (RMS)
News
BHP
Faces Chinese Iron Ore Ban Amid Pricing Dispute:
Reports
emerged that China's state-run iron ore buyers have
instructed steelmakers to halt purchases of dollar-denominated
cargoes from BHP, causing the company's shares to
drop 1.8%. This escalates a broader pricing row, with
BHP's stock closing at A$41.91 (down 0.73%). Analysts
warn of potential supply chain disruptions for Australia's
largest exporter.
Rio
Tinto Eyes Early Closure of Queensland's Largest Coal
Power Station:
The
mining giant notified the Australian Energy Market
Operator of a potential shutdown of its 1,000 MW coal-fired
plant at the Tarong site as early as March 2029—six
years ahead of schedule. This aligns with Rio's decarbonization
push but raises concerns over energy reliability in
coal-dependent Queensland.
Alcoa
Permanently Closes Kwinana Alumina Refinery:
The
U.S.-based firm confirmed the shutdown of its Western
Australian facility after 60 years, citing high energy
costs and global oversupply. This impacts 400 jobs
and underscores aluminium sector struggles, with WA's
government exploring support for affected workers.
Coal
Royalty Pressures Lead to Job Cuts:
BHP's
closure of the Saraji South mine in Queensland's Bowen
Basin will eliminate 750 jobs, blamed on royalties
eight times higher than 2024 profits.
Anglo
American announced further redundancies at its Grosvenor
mine and Brisbane office (potentially 1,000+ roles).
Queensland's government offers fee relief but resists
royalty cuts.
Gold
Sector Booms on Bullish Forecasts:
ASX
gold stocks rallied after UBS and Citi hiked 2026
price targets to US$3,800–$3,825/oz.
Westgold
Resources reported a 24% resource increase to 16.3
million ounces in WA.
Genesis
Minerals surged 13%, Northern Star 8%, and Evolution
Mining 6%.
Critical
Minerals Momentum Builds:
Liontown
Resources achieved break-even cash flow in its first
lithium production year despite low prices.
Mineral
Resources (MinRes) acquired assets from Resource Development
Group and is refinancing US$700M in debt.
Impact
Minerals partnered with Kuniko on a NSW gold-silver-copper
project;
Cloudbreak
Discovery optioned the Paterson project near Telfer
mine.
Northern
Minerals' Browns Range rare earths study forecasts
an 11-year life at A$592M capex, targeting premiums
over Chinese supply.
Fortescue's
Green Energy Push:
Andrew
Forrest's firm acquired Spanish wind tech company
Nabrawind to advance decarbonization. However, a new
report doubts full electric haulage by 2030, with
diesel emissions persisting until 2035. Joint CEOs
could earn up to A$7.5M each in 2025–26 via performance
rights.
Santos
Takeover Bid Collapses:
A
US$36.4B offer from an ADNOC-led consortium failed
due to due diligence issues and FIRB hurdles, potentially
pushing Santos toward a demerger or merger with Woodside.
Geopolitical
Flashpoint:
Trump
Stake Proposal Draws Backlash:
Discussions
of granting U.S. President Donald Trump stakes in
Australian critical minerals firms have sparked outrage,
with critics calling it a "disaster" and
potentially illegal under foreign investment rules.
Upcoming
Events
The
sector gears up for major gatherings focusing on innovation
and investment:
WA
Mining Conference & Exhibition: October 8–9,
Perth Convention Centre—spotlighting future tech,
sustainability, and critical minerals. Expected to
draw thousands for networking and demos.
International
Mining & Resources Conference (IMARC): October
21–23, Sydney—featuring leaders from 120+
countries, including Federal Resources Minister Madeleine
King. Themes include global investment and decarbonization.
Asia-Pacific
International Mining Exhibition (AIMEX):
September
23–25, Adelaide (ongoing as of early October)—showcasing
automation and safety, with the Australian Mining
Prospect Awards at Adelaide Oval.
News
Flashback
Trump
seeks equity stakes in critical mineral producers
The
US Department of Defense bought $US400m ($607m) worth
of shares in rare earths producer MP Materials earlier
in 2025. The Trump administration is said to be looking
at buying equity-like stakes in other producers of
critical minerals, according to executives of Australian
mining companies who recently held talks with officials
from various US government agencies. Amongst other
things, the government is said to be interested in
buying stock warrants, which would grant it the right
to buy shares in a mining company. The US aims to
reduce its reliance on China for minerals that are
crucial for defence technology and the energy transition.
(RMS)
News
Argonaut
tips gold to hit $US4500, lithium revival as supply
tightens
The
gold price has risen by 45 per cent so far in 2025,
and it is currently trading above $US3,800 per ounce.
Perth-based stockbroker Argonaut is bullish about
the outlook for bullion, lifting its peak price forecast
to US$4,500. Argonaut's executive chairman and co-founder
Eddie Rigg also anticipates further consolidation
in the gold sector. Meanwhile, Rigg expects the lithium
price to rebound, arguing that proposed new projects
in South America and Africa are unlikely to proceed
in the near-term; he notes that they will be capital-intensive,
while many are in volatile jurisdictions. (RMS)
News
News
Flashback
Profile
Hancock
Prospecting
Hancock
Prospecting Pty Ltd is an Australian-owned mining
and agricultural business run by Executive Chairwoman
Gina Rinehart and CEO Garry Korte. At various stages
of its trading history, the company has been known
as Hancock Prospecting Ltd, Hancock Resources Ltd,
Hanwright Pty Ltd, Hancock & Wright Ltd, and Hancock
Prospecting Pty Ltd.
Hancock
Prospecting Pty Ltd is owned by Rinehart (76.6%) and
the Hope Margaret Hancock Trust (23.4%).
The
company was founded in 1955 by Rinehart's father,
the late Lang Hancock. Hancock Prospecting holds the
mineral rights to some of the largest Crown land leases
in the Pilbara region of Western Australia.
Gina
Rinehart has disputed accusations that she is an heiress.
Through Rinehart's spokesperson and chief financial
officer at Hancock Prospecting, Jay Newby, Rinehart
has claimed that upon assuming the role of the Executive
Chairwoman, she took over a company that was in a
perilous financial position with significant debt
and major assets mortgages and under threat of seizure.
Projects:
Balfour
Downs Station Manganese Operation, northeast of Newman,
a joint venture with Mineral Resources
Hope
Downs mine, northwest of Newman, a joint venture with
Rio Tinto
Roy
Hill project, south of Port Hedland, a joint venture
between Hancock Prospecting (70%), Marubeni (15%),
POSCO (12.5%), and China Steel Corporation (2.5%)
Alpha
Coal project, Galilee Basin in Central Queensland
Kevin's
Corner coal project, Galilee Basin in Central Queensland
Nicholas
Downs mine, northwest of Newman, a joint venture with
Mineral Resources
(Developing
profile/news). To be cont ...
News
Best
Quotes
The
best and biggest gold mine is in between your ears."
"You
are a gold mine of potential power. You have to dig
to find it and make it real."
"Your
mind is like a gold mine, if you dig deep you will
find something golden."
"Don't
die without mining the gold in your mind."
"We're
like goldfields. Until we dig deep to find what's
inside us, our true potentials may be hidden forever."
"If
you want to find gold, you've got to love the process
of digging."
"Even
if you're sitting on a gold mine, you still have to
dig."
"Develop
men the same way gold is mined"
"Don't
go into the mine looking for dirt; instead, go in
looking for the gold."
"A
prospector's job is to remove dirt as quickly as possible"
"A
prospector who analyses every speck of dirt won't
find much gold"
"The
world is sitting on a gold mine but knows it not."
"Make new friends, but keep the old; Those are
silver, these are gold."
"All
that is gold does not glitter."
"Gold
is forever. It is beautiful, useful, and never wears
out"
"Gold
is the money of kings"
"Mining
is the art of exploiting mineral deposits at a profit.
An unprofitable mine is fit only for the sepulcher
of a dead mule."
"Anyone
can find the dirt in someone. Be the one that finds
the gold."
"True
gold fears no fire."
"The
desire of gold is not for gold. It is for the means
of freedom and benefit."
"Make
new friends, but keep the old; Those are silver, these
are gold."
"When
taken for granted, gold in one's hand is sometimes
considered like cheap copper – so are people."
Media
Man
Roy
Morgan wins Media Man 'News Services Provider Of The
Month' award; Runner-ups: X, Google News, Yahoo! Finance
September
2025
News
September
3, 2025
High-grade
threat to Australian iron ore
Australia
exported about $120 billion worth of iron ore from
the Pilbara during 2024-25. However, Vale executive
Rogerio Nogueira contends that Brazil has a key advantage
over Australia because its iron ore is better suited
to beneficiation; this process removes contaminants
such as silicon or alumina to produce the higher-grade
ore that will be needed to make steel using natural
gas or hyrogen instead of coal. Australia's iron ore
miners are already facing the problem of decline ore
grades in the Pilbara. (RMS)
South32
chief in blast over green tape
Diversified
miner South32 battled the bureaucracy for more than
seven years to secure approval to continue operating
its Worley bauxite and alumina business in Western
Australia. Meanwhile, difficulty in gaining approval
for an extension to the Dendrobium coal mine in the
Illawarra region of NSW prompted South32 to sell the
asset in 2024. South32 CEO Graham Kerr says the Trump
administration has made it much easier to gain environmental
approval for US mining projects compared with Australia.
The company is on track to gain all approvals for
its Hermosa critical minerals project in less than
four years; it was the first project to be added to
the FAST-41 list. (RMS)
News
September
3, 2025
Medals/Rare
Earths News
Gold
may be targeting $4,500, silver $50
Precious
metals have returned to active growth, pushing the
spot price of gold to $3,490—just $10 below its
historic high of 22 April. Meanwhile, silver has decisively
moved above $40, its highest level in 14 years.
The
news agenda continues to favour metals, with reports
that India is now actively selling US government bonds,
building up its gold reserves. China did the same
before, and Russia even earlier. However, this may
turn out to be nothing more than a glimpse into the
past, cleverly picked up by the global media. It should
also be remembered that years of net sales of gold
reserves did not initially prevent gold from rallying.
This could also work in the opposite direction: the
actions of finance ministers and central banks may
not have a very noticeable long-term effect.
The
lack of progress on a peaceful settlement between
Russia and Ukraine also helps gold. After months of
virtually empty promises, hopes are gradually fading.
A
more visible but at the same time short-term factor
is the growing expectation of a Fed key rate cut in
September from 75% on 21 August (before Powell's speech)
to 87% now. This leaves room for the rate to rise
by another 10-13 percentage points, which is negative
for the dollar and positive for commodities.
However,
we recommend paying more attention to the technical
picture now. The gold market has been in a prolonged
sideways trend since reaching highs in April. At the
same time, the bullish scenario is supported by sluggish
resistance from bears in recent days and a series
of higher local lows.
Silver
has been under less pressure from local profit-taking,
gaining in each of the last four months. Platinum
and palladium seem to be ending their corrective decline,
having risen sharply in early September. This behaviour
of precious metals indicates that traders are serious
about this direction, sharply increasing the chances
of new historical highs soon.
Nevertheless,
we urge caution when joining the gold rally in the
coming days. First, reaching historic highs could
trigger widespread selling in gold, as we saw in April
and as is happening with Bitcoin.
If
the breakout above $3,500 does not trigger a sell-off,
as was the case earlier this year, the potential target
is $4,500, close to which the 161.8% Fibonacci extension
level is located.
In
silver, it appears that the bulls are targeting the
area of historical highs near $50.
Platinum
also looks rested and ready to renew its multi-year
highs after a corrective pullback. Its technical growth
potential suggests a rise above $1,800, to the highs
of 2011. However, such ambitious growth will only
become the main scenario if the recent highs are exceeded
and the price rises above $1,500. (FxPro)
News
Gold
News
August
29, 2025
Gold
approached the upper limit of the 4-month trading
range
Gold
is trading above $3,400 again at the end of the week.
The upper limit of the trading range, within which
the price has been fluctuating since April, is close
to $3,430. Jerome Powell's signals about a rate cut,
unprecedented pressure from the White House on the
Fed, and the continuing high level of geopolitical
risks have brought the price back to this level.
Washington's
introduction of 50% tariffs against India risks further
deepening the divide between the West and the East,
as well as the associated processes of de-dollarisation
and diversification of gold and foreign exchange reserves
by central banks in favour of precious metals.
For
the first time since 1996, central banks hold more
gold (about 25%) than US government bonds (about 20%)
in their gold and foreign exchange reserves. For comparison,
between 2008 and 2015, this ratio fluctuated between
10% and 30%, respectively.
Gold
bulls are drawing strength from the dynamics of the
US yield curve. Yields on 2- and 10-year Treasuries
are falling. The market is painting a stagflationary
backdrop, which is the best food for gold bugs.
Gold's
ability to break through the resistance zone above
$3,430 will be an important signal of the market's
readiness to return to a rally after four months of
tug-of-war. But it is worth being cautious with early
bullish bets at these levels. Formally, there is now
a greater chance of another pullback to the lower
end of the range at $3,300-3,315.
At
the same time, investors should remember that whichever
way the breakout occurs, the subsequent movement could
be very strong, given how long the gold market has
been gathering strength while remaining in a sideways
trend. (FxPro)
News
Australian
Mining: Overview
Economic
Impact: Mining accounts for around 13.6% of Australia's
GDP (2023) and nearly 70% of total export revenue.
It generated $356.6 billion in company tax and royalties
over the past decade. Iron ore, coal, lithium, gold,
and bauxite are among the top exports, with Australia
being the world’s largest producer of lithium,
iron ore, and bauxite, and a top-five producer of
gold, lead, zinc, and nickel.
Key
Regions and Resources:
Western Australia (WA): The epicenter of Australian
mining, hosting major iron ore, gold, lithium, and
nickel projects. It employed 134,871 full-time-equivalent
workers in 2023-24, with iron ore (62,950 FTEs), gold
(31,884 FTEs), and lithium (11,386 FTEs) leading employment.
Queensland
(QLD): Contributes $75 billion annually to the economy
and employs over 50,000 people, with high-grade graphite
and rhenium deposits.
New South Wales (NSW): Rich in coal, gold, and copper,
with the Cowal gold mine as the largest. It provides
40,000 jobs and nearly $2 billion in royalties.
Northern
Territory (NT): Home to the world’s largest manganese
mine and one-third of Australia’s uranium reserves,
valued at over $4 billion.
Victoria
(VIC): Known for gold, antimony, and brown coal, with
a strong mining equipment and technology sector.
Tasmania
(TAS): A century-long mineral producer with diverse
geology.
Critical
Minerals and Innovation: Australia is a global leader
in critical minerals like lithium, rare earths, and
manganese, essential for renewable energy and defense.
The industry is adopting automation (e.g., driverless
trucks), AI, and blue hydrogen to improve efficiency
and reduce emissions. The government’s $1 billion
Value-Adding in Resources Fund aims to enhance domestic
processing.
Environmental
and Social Challenges: Mining faces scrutiny for environmental
impacts, including land destruction, water pollution,
and carbon emissions from fossil fuel production.
ESG (Environmental, Social, Governance) concerns and
commodity price uncertainty are top risks for 2024.
The industry is criticized for low tax contributions
relative to profits (6% of federal revenue) and benefits
from subsidies like the $3.5 billion Fuel Tax Credit
Scheme.
Employment
and Ownership: The sector employs about 229,500 people
(2% of the workforce), with high median earnings ($2,649/week).
However, it’s 86% foreign-owned, with major players
like BHP (76% foreign-owned) and Rio Tinto (83% foreign-owned)
dominating.
Future
Outlook: With 80% of Australia’s mineral potential
unexplored, the industry is poised for growth, particularly
in critical minerals for electric vehicles and renewable
energy. However, regulatory changes, climate goals,
and community expectations for fairer taxation and
environmental stewardship pose challenges. (Grok)
News
September
1, 2025
BHP
call to voters in coal tax fight
BHP's
BMA coking coal joint venture in Queensland paid an
effective tax rate of about 67 per cent in 2024-25.
BHP CEO Mike Henry has warned that some of the joint
venture's mines may need to be shut down due to the
impact of low coal prices and the state's coal royalty
regime. Meanwhile, BMA's head of operations Mariette
Bylsma says Queensland has one of the world's highest
coal royalty regimes, which is making the state less
competitive and less predictable for investment. Bylsma
adds that the "unsustainable" coal tax is
having a real impact on regional jobs and communities,
and she has urged the general public to raise the
issue with their local MP. (Roy Morgan Summary)
News
MinRes
takeover of miner run by Ellison's brother faces backlash
Resource
Development Group's administrator McGrathNicol recently
advised that it had received seven non-binding offers
to acquire the failed garnet miner. However, the firm
decided to recommend the offer from RDG's majority
shareholder, Mineral Resources, as it would result
in the highest return to shareholders. However, minority
investors in RDG claim that they are not being treated
fairly, and allege that Mineral Resources is hastening
the takeover without allowing time for other bids
to emerge. RDG's former MD Andrew Ellison is the brother
of Mineral Resources' founder and MD Chris Ellison.
(RMS)
News
Sunday
truck crash adds to MinRes woes
Mineral
Resources is under renewed scrutiny following another
incident on the private road that is used to transport
iron ore to port facilities at Onslow in Western Australia.
There has been a rear-end collision between one of
the company's road trains and a truck that was being
driven by a contractor; it is believed that nobody
was injured in yesterday's incident and both trucks
sustained only minor damage. However, there have been
a series of incidents on the 150km road since it was
opened in 2024, including a road train rollover last
week. Mineral Resources has also spent $230m on repairing
damage to the road caused by cyclones in early 2025.
(RMS)
News
Gas
industry frays over future of LNG as lobbying intensifies
Australia's
east gas market is facing a supply crisis that could
hit NSW and Victoria as early as 2029, with the nation's
$90 billion liquefied natural gas sector at odds as
to which of its participants should face the burden
of addressing the looming crisis. With the federal
government having announced a review of the LNG sector
earlier in the year, Australia Pacific LNG and Santos,
which is the operator of the Gladstone LNG project,
are both actively lobbying the federal government
as to their views as to how the two ventures believe
the sector should be reformed. (Roy Morgan Summary)
News
Bitcoin
Mining News
Industry
Challenges and Hashrate Records: Bitcoin mining difficulty
recently hit an all-time high of 126.9 trillion on
May 31, 2025, before slightly dropping to 126.4 trillion.
The network hashrate crossed 1 zetahash per second
(ZH/s) in April 2025, reflecting intense competition.
Miners face financial pressures from the April 2024
halving, which reduced block rewards, coupled with
rising operational costs. Despite this, companies
like MARA (mined 950 BTC in May 2025, holding 49,179
BTC) and CleanSpark (mined 694 BTC, holding 12,502
BTC) are expanding and retaining BTC as a treasury
asset.
Shift
to AI and Energy Competition: Bitcoin miners are increasingly
competing with AI data centers for cheap energy, prompting
some to pivot into AI infrastructure. For instance,
Bitmain plans to open a U.S.-based BTC mining hardware
facility by late 2025, and TeraWulf has secured Google
as its largest shareholder, validating its AI-integrated
strategy. This shift is driven by the need to monetize
power, with executives noting that energy, not just
hashrate, is now the critical factor.
Environmental
and Regulatory Concerns: A Harvard study revealed
that Bitcoin mining exposes 1.9 million Americans
to harmful PM2.5 air pollution, primarily from fossil
fuel-powered plants. The study highlights a "cross-state
domino effect," urging federal regulation. Meanwhile,
rural U.S. communities, like Dresden, NY, report noise
pollution from mining operations, sparking local backlash
despite support from some pro-crypto policies under
the current administration.
Centralization
Risks: Posts on X have raised alarms about mining
centralization, with two pools controlling over 51%
of the network’s hash power, potentially enabling
a 51% attack. This has sparked debate about Bitcoin’s
decentralization, though these claims remain inconclusive
without further evidence.
Innovations
and Expansions: Companies like Cipher Mining launched
a 150MW Bitcoin mining site in Texas (Black Pearl),
aiming for 300MW, and BitFuFu reported a record 34.1
EH/s hashrate, mining 400 BTC in May 2025. Block introduced
Proto Rig, a modular, repairable miner, and Proto
Fleet, an open-source software to enhance mining efficiency.
Profitability
Struggles: Mining a single Bitcoin now costs approximately
$137,000 in electricity, exceeding its market value
of around $95,000-$104,000, rendering traditional
mining unprofitable for many. Miners are adapting
by holding BTC or diversifying into other cryptocurrencies
like Ethereum.
Song
Welcome
To The Blockchain (Song lyrics)
We're
now standing on the precipice of a global revolution
Of
economics, of politics, and government
Welcome
to the blockchain
verse
Power
corrupts, money is power
The
power to control the money is one that is now
In
the hands of those who pretend we can't function without
them
So
how can we do something about it? (Huh?)
Working
hard to get a raise, lifting that wage up
Inflation
takes it like a hidden taxation
Manipulated
interest rates to give the banks
A
way to create money with the loans that they're giving
out daily (yup)
That
means our money is debt
That
we gotta pay back more than a hundred percent
No
wonder then why the middle class is going under
When
the one's above them gotta cover and come to collect
And
many have no access to banking
Making
payments, or saving, so more fees are taken
And
every day the gatekeepers are trying to stop change
We
can not wait, welcome to the blockchain
chorus
Welcome
to the blockchain
Things
are about to change
Open
up the gates
Systems
get replaced
Bitcoin
Decentralize
the trust
Security,
transparency
The
network's run by us
Bitcoin
verse
Bitcoin
is a decentralized ledger
And
the currency is its first enterprise ever
Secured
by the worldwide incentivized network
Can't
be stolen or controlled by any sized effort
You
can send it anywhere and instantly
No
one can intervene, no third party in between
There's
no counterfeiting
Algorithms
control the outer limits of how many coins can get
released
Programmable
money, no government can seize it
Payments
can be customized by sender and receiver
Contracts
can be written cementing your agreements
With
terms that can't be bent once you consent then it
completes it
Autonomous
businesses are possible
Where
profit is distributed amongst those adopting it
Paradigm
shift we must adjust to the ending
With
the blockchain, bitcoin is just the beginning
chorus
Welcome
to the blockchain
Things
are about to change
Open
up the gates
Systems
get replaced
Bitcoin
Decentralize
the trust
Security,
transparency
The
network's run by us
Bitcoin
bridge
Now
that we got control
We're
not gonna let it go
My
people all around the globe
We
gotta keep building, building, building
Now
that we got control
We're
not gonna let it go
My
people all around the globe
We
gotta keep building, building, building
chorus
Welcome
to the blockchain
Things
are about to change
Open
up the gates
Systems
get replaced
Bitcoin
Decentralize
the trust
Security,
transparency
The
network's run by us
Bitcoin
By
di DECAP, Toby / Toby Ganger
News
Working
Man: Sony Lyrics
It's
a working man l am And I've been down under ground
And I swear to God if l ever see the sun Or for any
length of time I can hold it in my mind I never again
will go down under ground
At
the age of sixteen years Oh, he quarrels with his
peers Who vowed they'd never see another one In the
dark recess of the mines Where you age before your
time And the coal dust lies heavy on your lungs
It's
a working man l am And I've been down under ground
And I swear to God if l ever see the sun Or for any
length of time I can hold it in my mind I never again
will go down under ground
At
the age of sixty four Oh, he'll greet you at the door
And he'll gently lead you by the arm
Through
the dark recess of the mines
Oh,
he'll take you back in time And he'll tell you of
the hardships that were had
It's
a working man l am And I've been down under ground
And
I swear to God if l ever see the sun Or for any length
of time I can hold it in my mind I never again will
go down under ground
It's
a working man l am And I've been down under ground
And
I swear to God if l ever see the sun Or for any length
of time I can hold it in my mind I never again will
go down under ground
It's
a working man l am And I've been down under ground
And
I swear to God if l ever see the sun
Or
for any length of time I can hold it in my mind I
never again will go down under ground
God,
I never again will go down under ground
By
Rita Macneil
News
Best
Quotes Of The Day
The
best and biggest gold mine is in between your ears."
"You
are a gold mine of potential power. You have to dig
to find it and make it real."
"Your
mind is like a gold mine, if you dig deep you will
find something golden."
"Don't
die without mining the gold in your mind."
"We're
like goldfields. Until we dig deep to find what's
inside us, our true potentials may be hidden forever."
"If
you want to find gold, you've got to love the process
of digging."
"Even
if you're sitting on a gold mine, you still have to
dig."
"Develop
men the same way gold is mined"
"Don't
go into the mine looking for dirt; instead, go in
looking for the gold."
"A
prospector's job is to remove dirt as quickly as possible"
"A
prospector who analyses every speck of dirt won't
find much gold"
"The
world is sitting on a gold mine but knows it not."
"Make new friends, but keep the old; Those are
silver, these are gold."
"All
that is gold does not glitter."
"Gold
is forever. It is beautiful, useful, and never wears
out"
"Gold
is the money of kings"
"Mining
is the art of exploiting mineral deposits at a profit.
An unprofitable mine is fit only for the sepulcher
of a dead mule."
"Anyone
can find the dirt in someone. Be the one that finds
the gold."
"True
gold fears no fire."
"The
desire of gold is not for gold. It is for the means
of freedom and benefit."
"Make
new friends, but keep the old; Those are silver, these
are gold."
"When
taken for granted, gold in one's hand is sometimes
considered like cheap copper – so are people."
News
News
Bonus
Gold
by Spandau Ballet Producers: Steve Jolley & Tony
Swain
Music
Video: Gold
https://youtube.com/watch?v=VQ4qrcHyYj4
[Verse
1]
Thank
you for coming home Sorry that the chairs are all
worn I left them here I could have sworn
These
are my salad days Slowly being eaten away Just another
play for today
Oh,
but I'm proud of you, but I'm proud of you
Nothing
left to make me feel small Luck has left me standing
so tall
[Chorus]
Gold (gold)
Always
believe in your soul You've got the power to know
You're indestructible, always believing
You
are gold (gold) Glad that you're bound to return
There's
something I could have learned
You're
indestructible, always believing
[Verse
2]
After
the rush has gone I hope you find a little more time
Remember we were partners in crime
It's
only two years ago
The man with the suit and the face
You knew that he was there on the case
Now he's in love with you, he's in love with you
And
love is like a high prison wall And you could leave
me standing so tall
[Chorus]
Gold
(gold) Always believe in your soul You've got the
power to know You're indestructible, always believing
You are gold (gold) Glad that you're bound to return
Something I could have learned You're indestructible,
always believing
[Bridge]
Love
is like a high prison wall
You could leave me standing so tall
[Chorus]
Gold
(gold) Always believe in your soul
You got the power to know
You're indestructible, always believing
You are gold (gold)
Glad that you're bound to return
Something
I could have learned
You're
indestructible, always believing (You are, gold) Always
believe in your soul
You've got the power to know
You're indestructible, always believing
'Cause you are gold (gold)
I'm glad that you're bound to return
Something I could have learned
You're indestructible, always believing (gold)
[Verse
1]
Thank
you for coming home Sorry that the chairs are all
worn I left them here I could have sworn
These
are my salad days Slowly being eaten away Just another
play for today Oh, but I'm proud of you, but I'm proud
of you
Nothing
left to make me feel small Luck has left me standing
so tall
[Chorus]
Gold
(gold) Always believe in your soul
You've
got the power to know You're indestructible, always
believing
You
are gold (gold) Glad that you're bound to return
There's
something I could have learned You're indestructible,
always believing
[Verse
2]
After
the rush has gone I hope you find a little more time
Remember we were partners in crime
It's
only two years ago The man with the suit and the face
You knew that he was there on the case
Now
he's in love with you, he's in love with you And love
is like a high prison wall
And
you could leave me standing so tall
News
September
3, 2025
Markets
Australian
Dollar: $0.6520 USD (down 0.0029 USD)
Iron
Ore: $102.50 USD (up $0.85 USD)
Oil:
$65.62 USD (up $1.01 USD)
Gold:
$3,533.67 USD (up $57.39 USD)
Copper:
$4.6410 USD (up 0.0685 USD)
Bitcoin:
$111,312.79 USD (up 2.81%)
Dow
Jones: 45,295.81 (down 249.07 points)
News
How
the Australian Mining Sector Has Been Impacted by
Covid-19
Just
like the rest of the world, Australia has not been
spared from the Covid-19 pandemic. After the first
case was identified on 25th January in Victoria, the
virus spread rapidly to other areas which prompted
all industries providing non-essential services to
shut down. Although many mining sites and operations
are located in remote locations, they were not spared
either, and had to rethink the way they operate. Additionally,
they had to adapt to the safety precautions put in
place to prevent the spread of the virus. Finally,
they had to find ways to recover after things started
getting back to normal.
Mining
Key to Economic Recovery
After
the declaration of a public health emergency in many
parts of Australia, many businesses had to close.
However, state, territory and national resources ministers
across Australia deemed mining, construction and retail
businesses as key to economic recovery. Because of
this, mining was placed on the list of essential sectors
which saw it roar back to life and continue functioning.
The mining industry employs so many people in Queensland
and so the government pledged to put measures in place
to ensure people kept their livelihoods and that they
were protected from the virus to stop its spread.
Hiring
New Talent
Responding
to the pandemic in March, Australian mining companies
Rio Tinto and BHP put in place programmes that would
support Australia's mining industry.
BHP
hired 1500 employees to work in coal, iron ore and
copper production. These new employees were given
six-month contracts and their jobs covered several
areas where BHP needed skilled labour.
Some
of the roles handed out include ancillary equipment
drivers, diesel mechanics, trade assistants, electricians,
excavator operators and many others. The people given
these roles would work in various mines located in
Queensland,
Western Australia, South Australia and New South Wales.
At
the same time, Rio Tinto was recruiting
graduates, skilled apprentices and aboriginal
trainees. These new workers would fill positions in
the Pilbara region in West Australia. Rio Tinto has
already said it will invest over A$10 billion in the
region in the next three years.
According
to Rio Tinto, they have hired a much more diverse
workforce in 2020 and the number of graduates they
have employed has grown by over 25%.
Rio
Pinto Put Up Safety Measures
Rio
Pinto, a massive Anglo-Australian company, has
already slowed down operations in Africa and Canada.
However, their operations in Australia have continued
uninterrupted.
Rio
Tinto has put measures in place to protect those who
continue to work for them in the Pilbara region. Some
of these include health checks at the airport to ensure
any workers coming from the big cities are properly
screened and healthy enough, plus an alternating two-week
work schedule for all its 1200 employees in the region.
Rio
Tinto has also put measures in place to keep productivity
high while ensuring the safety of its employees. These
include questionnaires to help with screenings and
hotlines to help employees get medical assessments
from advisors.
Australian
Miners Allowed to Source Equipment
On
27th April 2020, the Australian Competition and Consumer
Commission gave interim authorisation for the Australian
Aluminium Council, Minerals Council of Australia and
State resource bodies to source safety equipment under
a joint effort.
This
paved the way for 280 companies to work together on
the issues of getting the right working and safety
equipment so that miners could continue to work safely
without risking their lives due to working in the
middle of a pandemic.
This
gave a reprieve to companies that supply mining equipment
such as Sandvik surface Drill Rigs or Sandvik Surface
drill rig parts. Companies like Complete Field Maintenance
that sell these Sandvik
parts and rigs could now work with mining companies.
Complete Field Maintenance supports the Australian
mining industry by supplying quality mining parts
and rigs for all different mining arrangements and
situations.
The
commissions would later clarify that working with
other players in the mining sector was important,
and if they did not take the steps to support these
suppliers of parts and services, they would not be
able to support the families, jobs, communities and
small businesses that rely on the mining industry.
Roadmap
for post-Covid-19 Recovery
In
May 2020, the Mineral Council of Australia asked the
federal government to put in place measures that would
help with the recovery of the sector once the pandemic
is over.
After this request went through, the Mineral Council
of Australia put forth a document called 'Immediate
Reform Priorities to Accelerate Economic Recovery'.
This document has measures to help the sector recover
including lower tax rates, flexible
workplaces, mining reforms and faster project
approvals.
One
example of the proposed measures included the lowering
of the company tax rate of 30% which is deemed too
high by many of the players in the industry. Additionally,
they say this tax rate hampers their ability to remain
internationally competitive.
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