Australia: News

Mining/Energy/Rare Earths/Biz/Culture/Politics: Australia, U.S and World

Mad Monday Edition

News

November 2025

Markets

Nov 17

Australian Dollar: $0.6529 USD (up 0.0001 USD)
Iron Ore: $102.50 USD (down 0.35 USD)
Oil: $60.09 USD (up $1.34 USD)
Gold: $4,080.78 USD (down $82.66 USD)
Copper: $5.0500 USD (up $0.0015 USD)
Bitcoin: $94,324.41USD (down 1.62%)
Dow: 47,147.48 (down 309.74 points)

Bitcoin: (Near Live) $95,096.48 -0.79%

News

Heavy Industry Awards

Mack Trucks wins Media Man 'Truck Manufacturer Of The Month' award

Caterpillar wins Media Man 'Heavy Equipment Manufacturer Of The Month' award

Bingo Industries wins Media Man 'Construction Brand Of The Month' award

Elders wins Media Man 'Agribusiness Of The Month' award

Landman wins Media Man 'Streaming Series Of The Month' award (Oil/mining industry based story via Paramount Plus)

News

Wyloo bets on nickel future as part of critical minerals boom

Wyloo's financial accounts show that it booked a $377.6m profit in 2024-25, after a massive impairment charge on its nickel assets resulted in a $352.8m loss for the previous financial year. The private company of Andrew and Nicola Forrest is continuing to explore for nickel near its mothballed mines in Western Australia, while it is also considering the construction of a nickel concentrator near Kambalda. Wyloo's CEO Luca Giacovazzi stated in its latest annual report that its future growth is likely to be on mining and selling nickel, while this focus is expected to be expanded to include rare earths. (RMS)

Nov 15

Make coal great again or China gets your data: Hanson

One Nation leader Pauline Hanson will release details of the party's energy policy during the last parliamentary sitting week for 2025. However, Hanson contends that amongst other things Australia must withdraw from the Paris climate agreement and extend the operating lives of the nation's existing fleet of coal-fired power stations. Hansen has emphasised the importance of coal-fired power generation to data centres in Australia, warning that they will not be able to compete with China. Hanson adds that it "frightens the hell out of me" that China will dominate global data storage due to its lower electricity prices, which will be at least partly due to coal imported from Australia. (RMS)

News

Former Rio boss called to Mongolian probe

A Mongolian parliamentary inquiry into cost blowouts at the Oyu Tolgoi copper mine was announced in September, with public hearings due to be held between December 8 and 12. Slated to be one of the world's top-five producers of copper by the end of the decade, the Oyu Tolgoi mine cost almost $US1.7 billion more than planned and took almost two years longer than expected to build. Former Rio Tinto CEO Jean-Sebastien Jacques is one of close to 300 witnesses called to appear before the inquiry, with Jacques having been CEO of Rio from 2016 to 2020. (Roy Morgan Summary)

Nov 14

BHP to learn class action fate for $72b Brazil dam disaster

The UK's High Court will shortly issue a ruling on whether BHP is legally for an iron ore tailings dam disaster in Brazil which killed 19 people and caused massive environmental damage in November 2015. The tailing dam was owned by the Samarco joint venture between BHP and iron ore rival Vale. Should BHP be found to be legally liable, individual claimants' eligibility for compensation and the size of any payouts will be determined in the next stage of the long-running case. BHP and Vale have already paid billions in compensation to people who were affected by the disaster. (RMS)

News

Fresh probe launched into MinRes, Ellison

It has been revealed that the Australian Taxation Office has launched a new investigation into Mineral Resources and its billionaire founder Chris Ellison. News of the investigation was revealed in a request sent by the ATO to the Federal Court in October for access to previously sealed documents that had been filed in the unfair dismissal case brought by MinRes' former procurement manager Steve Pigozzo in 2022. The new investigation will focus on how MinRes and Ellison calculated income and fringe benefit taxes, with the revelation regarding the new probe coming as MinRes prepares to hold its AGM next week, at which shareholders will be asked to approve a lucrative share options package for new chairman Malcolm Bundey. (Roy Morgan Summary)

News

Rio ends two-decade Serbia lithium mining dream as cost cuts bite

Rio Tinto has advised that its Jadar lithium project in Serbia has put in 'care and maintenance' mode. The company will cease undertaking environmental, heritage and geological surveys at the site in the Jadar Valley, four years after revealing plans to invest $US2.4bn ($3.7bn) on developing what it claimed would be the biggest lithium mine in Europe. There is growing competition for capital within Rio Tinto's lithium division, and its $10bn deal to acquire Arcadium Lithium earlier in 2025 added several mines that are already in production to its lithium portfolio. (RMS)

News

American activist claims IperionX more dud than minerals gem

Trading in the shares of Australian-listed IperionX were halted on Thursday, following the release of a report into the company by New York hedge fund Spruce Point Capital Management, which specialises in short-selling. With the US-based IperionX seeking to develop titanium extraction technology and having been backed by the Trump administration as part of its bid to secure domestic production of critical minerals, Spruce Point's report sought to raise doubt about IperionX's prospects. (RMS)

News

Biotech gets $20m in critical minerals push

US-based biotechnology firm Endolith has raised $US13.5m ($20.6m) via its initial round of venture funding, while it aims to raise an additional $3m in a second tranche. The start-up is developing technology that can be used to extract critical minerals such as copper from low-grade ore and waste rock that would be unprofitable to process using traditional methods. Endolith's technology uses microbes and artifical intelligence, and the company aims to commence real-world trials at a mine site within 6-12 months. (RMS)

News

Oversupply of oil could create glut of 4m barrels a day, says energy watchdog

The International Energy Agency has stated in its latest monthly report that the world is producing more oil than it needs, and that there could be a glut of 4m excess barrels a day entering the market by 2026. The IEA's warning has come in the same week that it issued its latest energy outlook report, which included a controversial scenario in which global oil demand would continue to grow until 2050. It had dropped the scenario in 2020 after it was accused of repeatedly criticised for underestimating the growth of renewable energy in its annual report, but returned the scenario to its outlook this year after calls from the White House to present a more optimistic view for the future of oil. (RMS)

News

Markets

Australian Dollar: $0.6528 USD (down $0.0012 USD) Iron Ore: $102.85 USD (up $0.20 USD) Oil: $58.75 USD (up $0.33 USD) Gold: $4,163.44 USD (down $33.38 USD) Copper: $5.0485 USD (down $0.0345 USD) Bitcoin: $98,332.56 USD (down 3.01%) Dow Jones: 47,460.49m (down 794.33 points)

Bitcoin: (Near Live) $97,618.71 =5.38%

News

The cryptocurrency market is stagnating, lagging its competitors

Market Overview
The cryptocurrency market capitalisation has changed little over the past day, fluctuating around $3.5 trillion. The cryptocurrency fear index has fallen to 15, its lowest level since 4 March. Notably, the cryptocurrency market has been left out of the recent rally in precious metals and stock indices. If this is not an attempt by whales to lock in profits from the rally since April or even from the growth of the last two years, then it is an alarming signal of deep-seated risk aversion that is about to manifest itself in larger markets.

Bitcoin continues to struggle to remain within the bull market on weekly timeframes, trying to stay above the 50-week moving average. Last week's close was on the edge and attempts to develop an offensive this week are running into sell-offs, despite the favourable external backdrop. The previous such transition occurred at the end of 2021, and so far, everything aligns with the 4-year halving cycles that many were quick to dismiss.

News Background

Over the past three months, a clear break has occurred in the correlation between Bitcoin and the stock market. The S&P 500 stock index has risen 7% during this time, while BTC has lost 15%. Judging by four years of close correlation, it can be argued that Bitcoin is currently undervalued, according to Santiment.

Jan3 founder Samson Mow attributes Bitcoin's decline to a massive sell-off by investors who bought it over the past 12 to 18 months. They are rushing to lock in profits amid rumours of an imminent bearish trend in the crypto market.

The crypto market's growth phase is nearing its end, so it is time for investors to consider locking in profits and reducing the share of crypto assets in their portfolios, according to Morgan Stanley, which cites a four-year cycle that the cryptocurrency market has consistently followed since 2009.

The bitcoin mining industry is facing a difficult period due to growing competition and declining profitability, said MARA CEO Fred Thiel. According to him, only those miners who have access to cheap energy or new business models will survive.

According to SoSoValue, spot Solana ETFs in the US have attracted more than $350 million in 11 trading sessions. The steady inflow of funds into new SOL ETFs came as a surprise to the market. The results significantly exceeded initial conservative forecasts, according to LVRG Research.

Visa has unveiled a pilot project called Visa Direct, which allows US customers to make direct cross-border payments in USDC stablecoin to recipients' wallets. The initiative is aimed at content creators and freelancers.

The crypto industry is entering a new phase of capital raising. The launch of Coinbase's ICO platform is expected to be a key event in this trend, according to Bitwise. The exchange will select and launch one verified project per month. (FxPro)

News

The dollar emerging from the data fog

• The US government shutdown is over. • Central bank policy convergence helps EURUSD. • Political scandal causes the pound to fall. • Japan's currency interventions are ineffective The House of Representatives voted 222 to 209 to resume government operations. The president immediately signed the document. The record-long shutdown is over. This fact promises that the Fed and investors will soon begin to exit their positions. The president immediately signed the document. The record-breaking shutdown is over. This fact suggests that the Fed and investors will quickly start to emerge from the fog once statistics are published again, allowing them to make data-driven decisions. But will they like what they see when the picture becomes clearer?
Alternative sources show a slowdown in the US GDP. The IMF forecasts a decline in its growth rate from 2.8% to 2% in 2025. The eurozone, on the other hand, is expected to accelerate from 0.9% to 1.2%. At the same time, the Bank of France plans to raise its estimates for the country, despite the ongoing political turmoil. The narrowing divergence in economic growth argues in favour of maintaining the upward trend for EURUSD. The same can be said about monetary policy. The ECB has most likely ended its easing cycle, barring any major shocks. The federal funds rate is likely to continue falling amid a cooling US labour market and economy. The euro has advantages over the dollar. However, in the short term, mixed data could lead to mixed movements in EURUSD.
The conflict on Downing Street has allowed GBPUSD bears to launch a new attack. When Labour came to power in Britain in 2024, the pound gained preference thanks to hopes for political stability after constant ministerial changes under the Conservatives. However, since then, Prime Minister Keir Starmer's ratings have been falling. Rumours of a plot to replace the leader have made investors nervous and prompted them to sell sterling. Doubts about the effectiveness of potential currency interventions continue to push the USDJPY pair higher. The current conditions differ from those of last year. Back then, Tokyo intervened in the FOREX market before raising the overnight rate. Now, Sanae Takaichi is sticking to a policy of fiscal and monetary stimulus. Any purchase of the yen will only have short-term success. In addition, it will require the expenditure of foreign exchange reserves. These are needed to make the investments in the US economy promised to Donald Trump. (FxPro)

News

Heavy Industry Awards

Mack Trucks wins Media Man 'Truck Manufacturer Of The Month' award

Caterpillar wins Media Man 'Heavy Equipment Manufacturer Of The Month' award

Bingo Industries wins Media Man 'Construction Brand Of The Month' award

Elders wins Media Man 'Agribusiness Of The Month' award

Landman wins Media Man 'Streaming Series Of The Month' award (Oil/mining industry based story via Paramount Plus)

News

Media

Google Finance wins Media Man 'Business News Website Of The Month' award; Runner-up: Yahoo! Finance

Netflix wins Media Man 'Streaming Service Of The Month' award; YouTube and Paramount Plus are runner-ups! Strong mention: Tubi

News

News

Pop Culture News

Landman (Paramount Plus)

Plot

Set against the backdrop of the booming West Texas oilfields, Landman follows Tommy Norris (Billy Bob Thornton), a crisis manager and landman for an independent oil company. Tommy navigates cutthroat deals, family tensions, and moral dilemmas while trying to keep his business afloat. The story kicks off with an investigation into a fatal accident involving an out-of-town lawyer, weaving in elements of drug cartels.

Landman is an American drama television series created by Taylor Sheridan and Christian Wallace, inspired by Wallace's podcast Boomtown. It explores the high-stakes world of the oil industry in West Texas, blending themes of fortune-seeking, corporate intrigue, and personal drama amid roughnecks, billionaires, and geopolitical shifts.

The series premiered on Paramount+ on November 17, 2024, and has been renewed for a second season.

Landman: Season 2. Trailer (Paramount Plus)
https://youtube.com/watch?v=mhzQawESdqg

"You think you understand how this business works, but you don't." Things are heating up in the final Landman trailer. Season 2 premieres November 16, 2025, only on Paramount+.

"Death and a Sunset"
November 16, 2025

"Sins of the Father"
November 23, 2025

"Almost a Home"
November 30, 2025

"Dancing Rainbows"
December 7, 2025

"The Pirate Dinner"
December 14, 2025

"Dark Night of the Soul"
December 21, 2025

"Forever Is an Instant"
December 28, 2025

"Handsome Touched Me"
January 4, 2026

"Plans, Tears and Sirens"
January 11, 2026

"Tragedy and Flies"
January 18, 2026

News

Gold Movie

Gold is a 2016 American epic crime drama film directed by Stephen Gaghan and written by Patrick Massett and John Zinman. The film stars Matthew McConaughey, Édgar Ramírez, Bryce Dallas Howard, Corey Stoll, Toby Kebbell, Craig T. Nelson, Stacy Keach and Bruce Greenwood. The film is loosely based on the true story of the 1997 Bre-X mining scandal, when a massive gold deposit was supposedly discovered in the jungles of Indonesia; however, for legal reasons and to enhance the appeal of the film, character names and story details were changed.

Trailer

Gold (YouTube Movies and TV)
https://youtube.com/watch?v=yc0S96OZhi0

Gold is the epic tale of one man's pursuit of the American dream, to discover gold. Starring Oscar® winner Matthew McConaughey (Interstellar, Dallas Buyers Club, The Wolf Of Wall Street) as Kenny Wells, a modern day prospector desperate for a lucky break, he teams up with a similarly eager geologist and sets off on an amazing journey to find gold in the uncharted jungle of Indonesia. Getting the gold was hard, but keeping it would be even harder, sparking an adventure through the most powerful boardrooms of Wall Street. The film is inspired by a true story.

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

Mining/Energy/Resources/Markets/Politics/Culture: Australia, US and World

October 2025

Thirsty Thursday Media Watercooler: All That Glitters? Drill, Baby Drill!
Search For Industry Culture and Beyond The Harsh Earth Surface; Wealth Found In Dirty Jobs

Oct 30

Pop Culture News

Plot

Set against the backdrop of the booming West Texas oilfields, Landman follows Tommy Norris (Billy Bob Thornton), a crisis manager and landman for an independent oil company. Tommy navigates cutthroat deals, family tensions, and moral dilemmas while trying to keep his business afloat. The story kicks off with an investigation into a fatal accident involving an out-of-town lawyer, weaving in elements of drug cartels.

Landman is an American drama television series created by Taylor Sheridan and Christian Wallace, inspired by Wallace's podcast Boomtown. It explores the high-stakes world of the oil industry in West Texas, blending themes of fortune-seeking, corporate intrigue, and personal drama amid roughnecks, billionaires, and geopolitical shifts.

The series premiered on Paramount+ on November 17, 2024, and has been renewed for a second season.

Landman: Season 2. Trailer (Paramount Plus)
https://youtube.com/watch?v=mhzQawESdqg

"You think you understand how this business works, but you don't." Things are heating up in the final Landman trailer. Season 2 premieres November 16, 2025, only on Paramount+.

"Death and a Sunset"
November 16, 2025

"Sins of the Father"
November 23, 2025

"Almost a Home"
November 30, 2025

"Dancing Rainbows"
December 7, 2025

"The Pirate Dinner"
December 14, 2025

"Dark Night of the Soul"
December 21, 2025

"Forever Is an Instant"
December 28, 2025

"Handsome Touched Me"
January 4, 2026

"Plans, Tears and Sirens"
January 11, 2026

"Tragedy and Flies"
January 18, 2026

News

Gold Movie

Gold is a 2016 American epic crime drama film directed by Stephen Gaghan and written by Patrick Massett and John Zinman. The film stars Matthew McConaughey, Édgar Ramírez, Bryce Dallas Howard, Corey Stoll, Toby Kebbell, Craig T. Nelson, Stacy Keach and Bruce Greenwood. The film is loosely based on the true story of the 1997 Bre-X mining scandal, when a massive gold deposit was supposedly discovered in the jungles of Indonesia; however, for legal reasons and to enhance the appeal of the film, character names and story details were changed.

Trailer

Gold (YouTube Movies and TV)
https://youtube.com/watch?v=yc0S96OZhi0

Gold is the epic tale of one man's pursuit of the American dream, to discover gold. Starring Oscar® winner Matthew McConaughey (Interstellar, Dallas Buyers Club, The Wolf Of Wall Street) as Kenny Wells, a modern day prospector desperate for a lucky break, he teams up with a similarly eager geologist and sets off on an amazing journey to find gold in the uncharted jungle of Indonesia. Getting the gold was hard, but keeping it would be even harder, sparking an adventure through the most powerful boardrooms of Wall Street. The film is inspired by a true story.

News

Oct 30

Markets

Australian Dollar: $0.6570 USD (down $0.0010 USD)
Iron Ore: $107.75 USD (up $1.35 USD)
Oil: $60.40 USD (up $0.48 USD)
Gold: $3,933.57 USD (down $20.40 USD)
Copper: $5.2030 USD (up $0.0320 USD)
Bitcoin: $111,274.01 USD (down 1.22%)
Dow: 47,632.00 (down 74.37 points)

News

Fading Roy Hill seeks new riches

Iron ore miner Roy Hill has posted a net profit of $1.8bn for 2024-25, compared with $3.2bn in the previous financial year; it is the Gina Rinehart-backed company's lowest profit since 2019-20. Roy Hill's iron ore shipments totalled 61.6 million tonnes in 2024-25, compared with 64 million tonnes previously. The company's latest results were marred by factors such as lower iron ore prices and production disruptions caused by Cyclone Zelia in early 2025. Roy Hill's flagship mine is estimated to have a remaining production life of about seven years, but Rinehart says the new McPhee mine will extend the operating life of the Roy Hill mine. (RMS)

News

Northern Minerals faces battle for board

A spokesman for Northern Minerals says its four directors take their role of acting in the best interests of all shareholders very seriously. They add that the board supports the re-election of executive chairman Adam Handley at the upcoming AGM in order to maintain a "stable, united and effective board", while it opposes the election of non-endorsed nominees for the same reasons. Chinese businessman Enping Fu and Sydney-based businesswoman Joanna Yanis are seeking to be elected to the board of the heavy rare earths miner; the former narrowly failed to do so in 2024. The federal government ordered companies with Chinese links to divest shares in Northern Minerals last year, due to the strategic importance of its Browns Range project. (RMS)

News

Trunp's $121b nuclear deal fresh blow to uranium short-sellers

The share prices of Australian-listed uranium producers rallied on Wednesday after the Trump administration revealed plans to spend US80bn ($121.4bn) on new nuclear reactors across the US. The deal with Westinghouse Electric is aimed at ensuring a reliable electricity supply for the power-hungry data centres that will drive the artificial intelligence revolution. Westinghouse is owned by private equity firm Brookfield and uranium miner Cameco; the latter's shares rose by 23 per cent in response to the deal. Meanwhile, the proportion of Australian uranium stocks that are held by short-sellers has fallen sharply in recent weeks. (RMS)

Oct 29

BHP-backed firm adds value to US-Australia deal

Innovative technology that can extract critical minerals from mining waste is being trialled at Rio Tinto's Kennecott copper mine in the US. SiTration is seeking to commercialise its silicon membrane filter, and BHP's ventures arm participated in its second round of fundraising from seed investors in 2024. SiTration's co-founder and CEO Brendan Smith says its filter is being used to process acid mine drainage at Kennecott to extract "market-ready" copper. Recent academic research from the Colorado School of Mines suggested that waste by-products stored at 54 hard-rock metal mines may contain at least $US10bn worth of copper and more than $US1bon of rare earths. SiTration was spun off by the Massachusetts Institute of Technology in 2020. (RMS)

News

Gold below $US4000, 'deeper' losses ahead

The gold price has fallen 9.1 per cent since reaching a record high of $US4,381 an ounce last week. Tony Sycamore from IG Markets says the gold price's fall below $US4,000/ounce indicates that a deeper pullback to around the $US3,500 level is likely. Ole Hansen from Saxo Bank says the price of bullion could take some time to rebound if there is a deep pullback, and suggests that any recovery may not occur until next year. The prospect of a US-China trade deal may also weigh on the gold price, given that economic concerns and geopolitical tensions have been a key driver of demand for the traditional 'safe haven' asset. (RMS)

News

Rinehart weathers the storm as Atlas profits plunge from weaker prices

Hancock Propecting-owned Atlas Iron has posted a $260m profit for 2024-25, which is nearly 41 per cent lower than previously. The result was marred by lower iron ore prices and the impact of Cyclone Zelia on production at its Mount Webber, Sanjiv Ridge and Miralga iron oire mines in the Pilbara; Atlas achieved annual sales totalled $10m for the financial year. Mining magnate Gina Rinehart amalgamated Atlas and Roy Hill in mid-2025 to form Hancock Iron Ore. The group's new McPhee iron ore mine is slated to commence production in the current financial year. (RMS)

News

Gina Rinehart backs Arafura's $475m raise in rare earths stampede

Hancock Prospecting will increase its stake in Arafura Rare Earths from 9.4 per cent to 15.7 per cent after agreeing to buy $125m worth of shares in the rare earths group's proposed $475m placement. Arafura intends to issue new shares at $0.28 apiece, which is a 28 per cent discount to its most recent trading price. The share placement will provide nearly all of the remaining capital Arafura needs for its Nolans rare earths project in the Northern Territory. Arafura aims to make a final investment decision on Nolans in early 2026. (RMS)

News

Taxpayer-backed Liontown burns through cash after $363m raise

Liontown Resources has advised that it produced 87,172 tonnes of lithium concentrate in the September quarter, which is one per cent higher than the previous quarter. However, sales volumes were 20 per cent lower at 77,474 tonnes and revenue fell 29 per cent to $68m. Meanwhile, its cost of production was $US715 per tonne, while it received an average of $US700 per tonne from buyers. Liontown raised $363m from investors in August, while it spent $44m during the September quarter. The federal government's National Reconstruction Fund recently invested $50m in Liontown. (RMS)

News

Glencore walks away from taxpayer-funded clean energy pivot

Anglo-Swiss miner Glencore has advised that it will not proceed with a proposed renewable energy and battery hub at its Murrin Murrin nickel mine and refinery in Western Australia. Glencore had received a $35m grant from the federal government's Powering the Regions Fund to help finance the development of an 849-hectare renewables hub at Murrin Murrin, which currently operates its own gas-fired power station. A spokesman for Glencore says it decided to cancel the onsite hybrid renewable energy project due to a range of macroeconomic and cost factors. Glencore and the government have agreed to mutually terminate the grant. (RMS)

News

Markets

Australian Dollar: $0.6580 USD (up $0.0020 USD) Iron Ore: $106.40 USD (up $0.70 USD) Oil Price: $59.92 USD (down $1.64 USD) Gold: $3,953.97 USD (down $45.33 USD) Copper (CME): $5.1710 USD (up $0.0125 USD) Bitcoin: $112,972.09 USD (down 1.57%) Dow: 47,706.37 (up 161.78 points)

News

Oct 28

US expects China to shelve restrictions on rare earths

US Trade Representative Jamieson Greer says that staving off China's rare earth restrictions was one of the major objectives of the talks between the US and China during the ASEAN summit in Malaysia. A Chinese official has indicated that the two sides reached a preliminary consensus on a number of issues, including export controls on rare earths, shipping levies and fentanyl. US Treasury Secretary Scott Bessent in turn believes that China will delay its rare earth restrictions for 12 months, while it re-examines the policy. (RMS)

News

PM reassures Beijing over US minerals deal

Prime Minister Anthony Albanese has met with Chinese Premier Li Qiang on the sidelines of the ASEAN summit in Kuala Lumpur. Xi urged Australia to deepen its co-operation with China amid growing global instability and uncertainty, while Albanese said he is committed to maintaining a stable relationship with China. Albanese also contended that the $13bn critical minerals and rare earths deal with the US should not affect Australia's bilateral relationship with China. President Donald Trump is scheduled to meet with his Chinese counterpart Xi Jinping at the APEC summit in South Korea on Thursday, with hopes that they will be able to secure a trade deal. (RMS)

News

Trump's critical minerals advisor jets to Perth for talks with leaders after Albanese's deal

Anita Logiudice from the Chamber of Minerals & Energy of Western Australia says the state is "ground zero" for America's interest in critical minerals. She notes that WA accounts for half of Australia's critical minerals reserves, and it is the world's fourth biggest producer of rare earths. The importance of WA has been underlined by the Trump administration's decision to send its deputy assistant secretary for critical minerals and metals to Perth in the wake of the landmark critical minerals deal between Australia and the US. A state government spokesperson says Assistant Secretary Joshua Kroon will hold talks with mining industry executives on growing links and investment in WA's resources sector. (Roy Morgan Summary)

News

Australia's plan to challenge China's dominance in critical minerals and rare earths

About 90 per cent of all rare earths are refined in China, but the nation has a complete monopoly when it comes to heavy rare earths. Companies or countries that produce rare earths ship their raw material to China for processing, giving it almost complete control over marketing and pricing. The ABC's chief business correspondent Ian Verrender explains to The Business host, Kirsten Aiken, that to maintain its monopoly, China has never been afraid of using its market power. Verrender says it has alternatively flooded markets with material to make it uneconomic for others to establish rival industries, or denied access to refined product to others as punishment. Such overwhelming supply domination, and the pricing power that comes with it, has raised questions over whether governments should continue to allow market forces to determine the supply of materials vital for national security and development in an increasingly divided world. (Roy Morgan Summary)

News

Bowen told: electricity bills will jump

The unredacted version of the incoming government brief to Climate Change Minister Chris Bowen shows that his department had warned that there is likely to be a "further significant increase" in retail electricity prices during 2025-26. The Department of ­Climate Change, Energy, ­Environment & Water also advised that emissions reductions will need to ­accelerate rapidly for the federal government to achieve its 2030 climate targets, and that "full and timely" implementation of Bowen's first-term reforms will be essential. The brief was prepared by Bowen's department following the election in May, but it initially resisted requests to release the document in full. (RMS)

News

Mining billionaire's economic warning

Fortescue's founder and executive chairman Andrew Forrest says Australia has a "fantastic" future in manufacturing. Forrest adds that Australia can compete against the best of the world, but he contends that the nation must target areas where it is the best rather than simply trying to prop up "old industries". He also says Australia must avoid trying to compete with industrial powerhouses like China and the US in these industries. Meanwhile, Forrest says governments are underestimating Australians by propping up struggling or failing businesses such as the Mount Isa copper smelter in Queensland and the Port Pirie lead smelter in South Australia. (RMS)

News

ASX rises in broad rally; rare earths tumble

The Australian sharemarket posted a solid gain on Monday, with the S&P/ASX 200 adding 0.4 per cent to close at 9,055.6 points. Investor sentiment was boosted by growing expectations of further monetary policy easing in the US and hopes that the US and China will negotiate a trade deal. Life360 was up 4.7 per cent at $50.14, Woodside Energy rose 1.2 per cent to $24.69 and Qantas ended the session 3.4 per cent higher at $10.87. However, Arafura Rare Earths fell 9.6 per cent to $0.37 and Ramelius Resources was down 5.7 per cent at $3.30. (RMS)

News

Commodities boom boosts ASX profits by $4b

Analysts are upbeat about the earnings outlook for companies in the benchmark S&P/ASX 200 Index. The rise in commodity prices over the last two months have prompted analysts to forecast earnings growth of 7.1 per cent for top-200 stocks in 2025-26; this compares with forecasts of just 3.1 per cent at the end of the August reporting season. The resources sector is now forecast to post earnings growth of 11 per cent in the current financial year, compared with expectations in August that earnings would fall by one per cent. Analysts are also upbeat regarding some non-resources stocks, including the ANZ Bank, CSL and James Hardie Industries. (RMS)

News

Major Tomago investor writes off smelter in gloomy update

Norsk Hydro has written down the value of its 12.4 per cent stake in the Tomago aluminium smelter in NSW to zero. The Oslo-based company has progressively written down its stake over recent years, and it has warned that the smelter faces an uncertain future when AGL Energy's electricity supply contract ends in 2028; Norsk Hydro adds that it has been difficult to find an affordable renewable supply for Tomago. The smelter's biggest shareholder, Rio Tinto, has previously indicated that it will not continue to operate smelters in Australia beyond 2030 unless they can be converted to use clean energy. (RMS)

News

Going where the profit is

For most of the first 130 years of BHP's existence, the focus of successive CEOs was increasing and developing the company's resources base, rather than profits. With BHP recently celebrating its 140th anniversary, profits and returns on capital now take precedence. Likewise, during BHP's first 130 years Australia knew that its prosperity would depend on exports of agriculture and mining products, which would in turn require cheap energy and strong agricultural support. However, the nation now makes mining and agricultural development harder, and it has abandoned low-cost energy. Meanwhile, BHP's South Australian copper project has been pushed back to the 2030s, and the company will use its iron ore cash flows to develop copper mines in countries where returns and energy costs are competitive. (Roy Morgan Summary)

News

Antimony miner shoots down US takeover bid

Critical minerals producer Larvotto Resources has formally rejected a takeover offer from the United States Antimony Corporation. Larvotto's directors have concluded that the $723m all-scrip bid materially undervalues the company, which is set to resume production at the mothballed Hillgrove gold and antimony mine in NSW in 2026; Larvotto bought the mine from administrators in late 2023. Meanwhile, Northern Minerals has completed a $60.5m share placement to new investors; its Browns Range project in Western Australia includes heavy rare earths such as terbium and dysprosium. (RMS)

News

Long haul, but it's a win for MinRes

Mineral Resources has advised that 8.75 million tonnes of iron ore were transported via its 150km private haulage road between 1 August and 27 October. This lifted the Onslow Iron venture's annualised haulage rate to 35 million tonnes; this in turn triggered a $200m contingency payment from Morgan Stanley Infrastructure Partners, which acquired a 49 per cent stake in the private road in 2024. Mineral Resources' MD Chris Ellison says that achieving the haul-road's performance target so early in Onslow Iron's ramp-up phase demonstrates the quality of the company's people, partners and infrastructure. The private road has been the subject of safety concerns amid a number of truck rollovers and costly resurfacing work. (RMS)

News

Haoma Mining Shareholder Update

Haoma Mining NL Announcements

28 October 2025

(Roy Morgan Summary)

The 2025 Annual General Meeting of Haoma Mining NL will be held at 9.30am on 26 November at Tonic House, 386 Flinders Lane, Melbourne. A formal Notice of Meeting will be sent to all shareholders. Meanwhile, the Haoma Rare Earths Overview has brought together an overview of the company's Pilbara assets and their geological status; test-work undertaken over several years on those assets by BHP, Anglo America, SQM and Haoma; and their potential for Heavy Rare Earths as well as gold. Haoma's shareholder update also includes progress on Bamboo Creek Test-work from July to October 2025, including physical gold recovered from recent Elazac Process test-work conducted in Haoma's Bamboo Creek Laboratory. Haoma's Board in turn resolved on 22 October to allocate performance rights to a number of employees, consultants and contractors who are associated with Haoma. (RMS)

News

$US50m deal for development of Ravensthorpe gold project

Medallion Metals has advised that it has secured a deal for Trafigura to arrange and provide a $US50m ($77m) senior secured prepayment facility. Medallion says the debt financing facility will underpin the funding required for the development of its Ravensthorpe Gold Project in Western Australia, as well as the processing operations at the Forrestania nickel assets that it has agreed to buy from IGO. The deal with Trafigura also includes an offtake agreement for gold dore, copper and precious metal concentrate. (RMS)

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

Biz News: Australia and World

July 14, 2025

Netflix wins Media Man 'Streaming Brand Of The Month'

News

Tariff-stricken copper left off Albanese's critical minerals list

Resources Minister Madeleine King says the federal government has no immediate plans to add copper to its critical minerals list. King adds that Labor has a "very active watching brief" regarding copper. The nation's copper sector is under scrutiny in the wake of warnings from Glencore that its smelter and refinery in Queensland may not be viable, while the Trump administration recently announced a 50 per cent tariff on copper imports. Meanwhile, some lithium producers have cautioned the government against including the battery metal in its proposed critical minerals strategic reserve, amid a global oversupply and depressed prices. (RMS)

News

Listing 'proves industry, rock art can co-exist'

West Australian Premier Roger Cook has welcomed the decision by UNESCO to add the Murujuga cultural landscape to the World Heritage List. Located on the Burrup Peninsula, the landscape is home to the world's biggest collection of rock art engravings, and its listing will provide it with additional protection. Cook says UNESCO's decision shows that industry and protected sites can co-exist, with Cook noting that UNESCO was obviously convinced by evidence presented to it that emissions from Woodside's North West Shelf gas plant on the Burrup Peninsula had no material impact on the rock art. (Roy Morgan Summary)

News

Trump announces 30 per cent tariffs against EU, Mexico to begin August 1

US President Donald Trump has announced 30 per cent tariffs on Mexico and the European Union in letters posted to his social media account, with the tariffs to take effect from 1 August. In his letter to the EU, Trump claimed that the US trade deficit with the EU was a national security threat, while European Commission President Ursula von der Leyen says the EU is willing to take the necessary steps to safeguard its interests if the US proceeds with its 30 per cent tariff. In his letter to Mexico, Trump acknowledged that it had been helpful in stemming the flow of undocumented migrants and fentanyl into the US, but it had not done enough to stop North America from turning into a "Narco-Trafficking Playground". (Roy Morgan Summary)

News

Miners shield ASX as iron ore challenges $US100

Futures pricing suggests that the S&P/ASX 200 will shed about 13 points when the market opens on Monday. The US earnings season will be a key focus for investors in the coming week, while the release of US inflation data and Australian jobs data for June will also be closely scrutinised. The S&P/ASX 200 fell 0.11 per cent to 8,580.1 points on Friday. Meanwhile, iron ore futures in Singapore have now risen in each of the last three weeks, prompting a rally in the share prices of Australia's major producers over the same period. (RMS)

News

Banks driving gold rush

The world's central banks have collectively purchased over 1,000 tonnes of gold annually for the past three years, which is around $US80bn ($123bn) at current prices. The latest World Gold Council survey found 95 per cent of central banks expect their peers to keep buying gold over the next year, while 43 per cent of them plan to boost their own gold reserves within that period. With the price of gold having more than doubled since late 2023, RBC Capital Markets states that some of the factors behind the 'gold rush' by central banks include gold's liquidity and its performance during times of crisis. (RMS)

News

Banks and big retail extend Armaguard's lifeline

Cash transportation business Armaguard has been given a $25 million cash injection by the banks and major retailers to enable it to keep operating until the end of the year. It comes after the banks and retailers paid Armaguard some $50 million in 2024 to keep operating after its parent company Linfox stated it was not profitable and could be closed down, while it was announced in May that the Australian Banking Association and Armaguard had agreed to appoint Deloitte Access Economics to come up with a pricing structure for its operations. (RMS)

News

Italy's Ferrero agrees to buy cereal giant Kellogg in $4.7b deal

Italian confectionery business Ferrero International is to acquire US cereal maker WK Kellogg in a $US3.1 billion ($4.7 billion) deal. Ferrero is the maker of the chocolate nut spread Nutella while WK Kellogg is the maker of cereals such as Frosted Flakes and Froot Loops, and the purchase of WK Kellogg marks the latest in a number of US acquisitions by Ferrero, including ice-cream maker Bomb Pops in 2022 and Keebler and Famous Amos cookies in 2019. (RMS)

News

Polestar lashes lobby for 'unfounded' EV attack

Scott Maynard has accused the Federal Chamber of Automotive Industries of 'unnecessary and unfounded' attacks on proposed fuel efficiency standards, with Maynard being the Australian MD of electric vehicle car maker Polestar. Car makers have claimed the standards will lead to higher prices, while Maynard claims the attack on the standards by traditional car makers and the FCAI have hindered the uptake of EVs. EV sales accounted for just 7.7 per cent of the total new car market to June this year, although Polestar's sales are up 23 per cent on the first six months of 2024.

News

Victoria's gas giants fight over access to Melbourne pipeline

Viva Energy is seeking to establish an LNG import terminal at Geelong in Victoria, and is seeking full access to a gas pipeline that currently delivers gas to Melbourne. Viva's bid to get access to the congested pipeline is causing friction with other gas producers and users of the pipeline, and there are claims that the value of the Iona gas storage plant, which is located in western Victoria, will be cut if its access to the pipeline is reduced. Viva has told the Australian Energy Market Operator that it may not proceed with the import terminal if it cannot secure full access to the pipeline. (Roy Morgan Summary)

News

Global freight prices tumble, but not for goods shipped to Australia

The Drewry World Container Index has halved over the last 12 months, with the index tracking freight rates for 40-foot containers on the world's most popular shipping routes. Its decline has been attributed to reduced demand for Chinese exports to the US as a result of Donald Trump's tariffs, but rates for goods to Australia are defying the downward trend, with freight rates for consumer goods shipped from Asia to Australia increasing at the start of July, and shipping companies are predicting further increases. (RMS)

News

ABC board shake-up favours 'outsider'

Sources have indicated that the federal government wants to replace the ABC's deputy chair Georgie Somerset with an external candidate. Somerset was appointed to the public broadcaster's board by the former Coalition government in February 2017, and she was elevated to the role of interim deputy chair for six months following the resignation of predecessor Peter Tonagh. With that temporary role set to expire, the government is believed to be keen make its own appointment to the ABC's board; Somerset herself is said to be keen to continue in the role. (RMS)

News

Win for regions as Ten, Sky ink new deal

More than three million unique regional viewers watched Sky News Regional on free-to-air television in 2024. The Ten Network has struck a new multi-year deal with Sky News Australia to continue broadcasting the latter's content in regional areas of NSW, Victoria and Queensland. Sky News Regional was previously broadcast by Southern Cross Austereo, which sold its TV licences in these markets to Ten in late 2024. Sky News Australia is owned by News Corporation. (Roy Morgan Summary)

News

Nova links with Diary of a CEO podcast

Radio stations group Nova Entertainment has secured a deal to add the popular The Diary of a CEO to its podcast network. The deal includes new episodes of The Diary of a CEO, plus a back catalogue of more than 650 existing episodes. The podcast is hosted by British entrepreneur and author Steven Bartlett; it has 25 million followers and more than 11 million YouTube subscribers, making it the world's second-most popular podcast after The Joe Rogan Experience. Nova Entertainment also distributes podcasts produced by News Corp. (RMS)

News

Magazine empire facing likely 'split' in sale

The founding editor of Marie Claire magazine, Jackie Frank, says finding a single buyer for Are Media may be difficult, and its stable of 22 titles could potentially be sold to several buyers. Private equity firm Mercury Capital recently revealed plans to sell Are Media, and there is speculation that it could be seeking about $50m for the business. However, some media industry insiders have suggested that such a price may be unrealistic given the decline in sales of print magazines. Are Media CEO Jane Huxley notes that the company's titles now reach more than 10 million women each month via print, digital and social media. (RMS)

News

New gig's just the ticket for Banducci

Brad Banducci says he is looking at how he can use technology to boost Ticketek's market share of the event sector, with Banducci having joined Ticketek's parent company TEG as CEO in March. Formerly the CEO of supermarket chain Woolworths, Banducci says there is scope to implement technology that would allow someone to share an empty seat next to theirs with a friend, or to upgrade seats at venues if they can see ones that are better and empty. Banducci says he was determined to do something different after he left Woolworths, and that he spent six months contemplating executive and board roles at public companies before joining TEG. (RMS)

News

Trump rare earth call adds to Rinehart fortune

The Pentagon is to acquire a 15 per cent stake in American rare earths producer MP Materials, which operates the only rare earths mine in the US. Australian billionaire Gina Rinehart owns an 8.2 per cent stake in MP Materials, and the announcement of the Pentagon's investment has seen the value of her stake rise to $US628 million ($955 million), with news of the Pentagon deal pushing MP Materials' shares up 50 per cent. It also boosted the share price of Australian rare earth producers on Friday, with Iluka Resources up 20 per cent to $4.80 and Lynas Rare Earths increasing 18 per cent to $9.80. (RMS)

News

The Pentagon's bold move to secure U.S rare earth mineral needs

The price of MP Materials' common stock surged by 54 per cent on 10 July, following the announcement that the US Department of Defense had acquired a 15 per cent stake in the company. MP Materials owns the only operational rare earths mine in the US, and the Pentagon's investment is aimed at reducing the US's dependence on imports of rare earth minerals. As well as owning the only operational rare earths mine in the US, MP Materials refines and manufactures magnets at its California operation, with rare earth metals being critical elements in the high-grade magnets that go into every modern military weapons system, jets and ships.

News

Coal sector: Qld's LNP making 'right noises' over royalties

Coal Australia CEO Stuart Bocking says the peak body will continue to work constructively with the Queensland government regarding its Labor predecessor's controversial coal royalty scheme. Bocking says there have been some "some very positive noises" from Premier David Crisafulli regarding the importance of coal mining to the state's economy. Bocking has warned that the royalty scheme and rising production costs could see some coal producers collapse, given that they must pay the royalty even if they are not making a profit. (Roy Morgan Summary)

News

Media Man

TKO Group wins Media Man 'Entertainment Promoter Of The Month' award

Roy Morgan wins Media Man 'News Services Brand Of The Month' award

The Australian Financial Review wins Media Man 'Newspaper Of The Month' award

News

Markets

July 14, 2025

ASX futures down 13 points/ -0.2% to 8548

Australian dollar -0.2% to 65.63 US cents

Wall Street:
S&P 500 -0.3%, Dow Jones -0.6%, Nasdaq -0.2%

Europe: Stoxx 50 -1%, FTSE -0.4%, DAX -0.8%, CAC -0.9%

Bitcoin +1.6% to $US119,150

Gold +1% to $US3355.59 per ounce
US oil +2.8% to $US68.45 a barrel
Brent crude oil +2.5% to $US70.36 a barrel
Iron ore +0.5% to $US99.50 per ton

10-year yield: US 4.41% Australia 4.32% Germany 2.72%

Pro Wrestling

August 2024

WWE Raw - Bronson Reed Destroys Seth Rollins with numerous Tsunami's on RAW

All Elite Wrestling - Kyle Fletcher gets a strong promotional push

WWE - Rhea Ripley and Damian Priest are now the Terror Twins; Target Judgment Day

WWE - Grayson Waller and Austin Theory continue to have miscommunications

WWE - Dakota Kai (New Zealand) continues to improve and impress

AEW - "Switchblade" Jay White remains one of the top workers in the promotion and world

Markets and Commodities

October 4, 2024

Australian Dollar: $0.6840 USD (down $.0040 USD)

Iron Ore Nov Spot Price (SGX): $108.75 USD (down $0.20 USD)

Oil Price (WTI): $73.71 USD (up $2.70 USD)

Gold Price: $2,656.04 USD (down $2.97 USD)

Copper Price (CME): $4.5435 USD (down 0.1195 USD)

Bitcoin: $60,801.67 USD (up 0.09% in last 24 hours)

Dow Jones: 42,011.59 (down 184.93 points on yesterday's close)

Market, Commodities and Financial News

Snapshot via Media Man

October 4, 2024

ASX futures down 33 points or 0.4% to 8209 near 6am AEST

AUD -0.6% to $US68.44¢

Bitcoin +1.3% to $US60,954

Dow -0.6%

S&P -0.4%

Nasdaq -0.3%

FTSE -0.1%

DAX -0.8%

CAC -1.3%

Gold -0.1% to $US2657.32 an ounce

Brent oil +5.2% to $US77.77 a barrel

Iron ore +0.6% to $US108.75 a tonne

Markets And Commodities

August 19, 2024

Australian Dollar: $0.6665 USD (up $0.0055 USD)

Iron Ore Sep Spot Price (SGX): $92.30 USD (down $1.25 USD)

Oil Price (WTI): $76.65 USD (down $1.46 USD)

Gold Price: $2,508.18 USD (up $51.88 USD)

Copper Price (CME): $4.1505 USD (up $0.0100 USD)

Bitcoin: $59,792.97 USD (up 0.64% in last 24 hours)

Dow Jones: 440,659.76 (up 96.70 points on Thursday's close)

Media/Entertainment: Australia

TV Week Logie Awards 2024

Winners

Gold Logie Award for Most Popular Personality on Australian Television - Larry Emdur

Best Drama Program - RFDS, Seven Network

Best News or Public Affairs Presenter - Ally Langon, A Current Affair, Nine Network

Best Comedy Entertainment Program - Have You Been Paying Attention?, Network Ten

Best Lead Actor in a Drama - Felix Cameron, Boy Swallows Universe, Netflix

Beat Scripted Comedy Program - Utopia, ABC

Best Current Affairs Program - Australian Story, ABC

Best Lead Actress in a Drama - Deborah Mailman, Total Control, ABC

Best Sports Coverage - FIFA Women's World Cup 2023, Seven Network

Best Competition Reality Program - MasterChef Australia, Network 10

Best Factual or Documentary Program - John Farnham: Finding The Voice, Seven Network

Best Miniseries or Telemovie - Boy Swallows Universe, Netflix

Best News Coverage or Public Affairs Report - Ben Roberts-Smith: The Truth, 60 Minutes, Nine Network

Best Structured Program - Gogglebox Australia, Foxtel and Network 10

Best Lifestyle Program - Travel Guides, Nine Network

Bert Newtown Award for Most Popular Presenter - Larry Emdur, The Chase Australia and The Morning Show, Seven Network

Best Supporting Actor - Bryan Brown, Boy Swallows Universe

Best Lead Actor in a Comedy - Rob Sitch, Utopia, ABC

Graham Kennedy Award for Most Popular New Talent - Felix Cameron, Boy Swallows Universe, Netflix

Best Supporting Actress - Sophie Wilde, Boy Swallows Universe, Netflix

Best Children's Program - Bluey, ABC

Best Entertainment Program - The Voice Australia, Seven Network

Best Lead Actress in a Comedy - Kitty Flanagan, Utopia, ABC

Mining, Energy and Resources: Australia and Oceania

August 9, 2024

News

Legal fees for BHP class action top $680m

Law firm Pogust Goodhead is representing about 600,000 participants in a class action over Brazil's Samarco iron ore tailings dam collapse in 2015. The firm estimates that its legal fees could be around Stg250m, while total legal fees arising from the case could exceed Stg350m. Documents filed with the UK's High Court show that BHP's share of the legal costs have been forecast at around Stg108m; however, this is just for the first stage of the trial, and BHP will face a further legal bill if the resources group is found liable for the disaster in Brazil. Samarco is a joint venture between BHP and Vale.

(Roy Morgan Summary)

News

Win for Fortescue in private eye battle

Federal Court judge Brigitte Markovic has dismissed an application by Element Zero's founders to access the instructions that Fortescue gave to private investigators who had been hired to put them under surveillance. Fortescue alleges that its former employees Bart Kolodziejczyk, Bjorn Winther-Jensen and Michael Masterman used its intellectual property to develop Element Zero's rival green steel technology. Justice Markovic ruled that the instructions given to the private investigators are likely to be subject to legal professional privilege.

News

Creasy in talks for Macquarie's $148m debt at miner Calidus

Macquarie Bank has a four per cent stake in Calidus Resources, while it holds $148m of the failed gold producer's debt. Sources have indicated that Macquarie has finalised the terms of a deal to sell its Calidus loan at a price that is at or near its carrying value. The buyer of the debt is believed to be Yandal Investments, the private investment vehicle of Western Australian billionaire Mark Creasy. His deal to acquire Macquarie's debt could give Creasy an edge over other potential bidders for Calidus or its assets, which include the Warrawoona gold project and a 40 per cent stake in the Pirra lithium joint venture.

News

Win for Whitehaven, MACH as court rejects climate bid

The High Court has dismissed the Environment Council of Central Queensland's application for special leave to appeal the Federal Court's decision to allow two NSW coal mine extension projects to proceed. The court had ruled in May that federal Environment Minister Tanya Plibersek had acted lawfully in handling the environmental approvals process for the Whitehaven Coal and MACH Energy projects. The ECCQ had initiated legal action against the proposed mine expansions in 2022.

(Roy Morgan Summary)

Mining, Energy and Resources: Australia and Oceania

August 7, 2024

News

Liontown wants lithium breaks as prices teeter

Association of Mining & Exploration Companies CEO Warren Pearce says it is holding talks with the Western Australian government with regard to royalty relief for lithium producers. The price of spodumene has fallen to $US870 ($1,337) per tonne, and Liontown Resources CEO Tony Ottaviano contends that the government should intervene in order to avert a similar crisis to the rout that hit the nation's industry. He has also suggested that the federal government should expand its production tax credit scheme to include the upstream processing of spodumene.

(Roy Morgan Summary)

News

MinRes job cuts add to thousands lost in WA's mining sector route

A spokesman for Mineral Resources has confirmed that the iron ore and lithium producer will reduce its head count, although the bulk of the job cuts will be at its Perth head office. Mineral Resources has not disclosed the extent of the job losses, although it is believed to be about 100. The move follows the company's recent decision to mothball its high-cost iron ore mines in Western Australia's Yilgarn region and a delay in the expansion of the Wodgina lithium mine. WA's mining sector has already been hit by massive job losses in the nickel industry in 2024.

(Roy Morgan Summary)

News

Iron ore 'must learn from nickel pain'

Dino Otranto, the CEO of Fortescue's mining arm, has warned that Australia risks missing out amid the global shift to 'green' steel'. He has called for increased collaboration between industry and government to ensure that the nation capitalises on the decarbonisation of the steel industry. He adds that the demise of Australia's nickel industry provides a timely warning for iron ore producers.

News

Jilted ERA heads to court over Jabiluka mine axing

Energy Resources of Australia wants the Federal Court to undertake a judicial review of the Northern Territory government's decision to not renew its mining lease for the Jabiluka uranium deposit. ERA contends that it was denied "procedural fairness and natural justice" in the decision to permanently ban mining at Jabiluka. Amongst other things, ERA has questioned the haste with which federal Resources Minister Madeleine King advised the NT government to reject an extension of the mining lease, which is slated to expire on 11 August.

News

Newmont fights $130m 'restructuring' tax bill

The Australian Taxation Office contends that Newmont Corporation owes it some $132.6m in capital gains tax liabilities arising from a restructuring in 2011. The tax dispute is believed to centre on Newmont's decision to consolidate ownership of its local mines under its Newmont Australia subsidiary; this included a transaction in which two of the mining giant's North American subsidiaries sold their holdings in Newmont Australia back to it. Newmont contends that the transfer was an internal restructure rather than a share sale, and it should therefore not attract capital gain taxes

News

Watchdog threatens 'critical' Browse

Woodside Energy's CEO Meg O'Neill has emphasised the importance of the company's Browse LNG project. She contends that Browse is the only gas field of sufficient size to meet the forecast demand for energy over the near-term. The Browse project's future is under scrutiny following a preliminary ruling from Western Australia's Environmental Protection Authority that it presents a "unacceptable risk" to marine ecology. The EPA is expected to make a final recommendation on the project in 2025, although it can be overruled by the federal government. O'Neill has also defended Woodside's deal to acquire a low-carbon ammonia project in the US.

(Roy Morgan Summary)

Media Man Int

Media Man Int X

Elon Musk’s X Files Antitrust Suit Against Global Advertising Alliance

August 6, 2024

Elon Musk’s social media platform X has launched a significant antitrust lawsuit against the Global Alliance for Responsible Media (GARM) and several of its member companies, alleging an illegal ad boycott that targeted the platform. The lawsuit, filed in Texas, is aimed at GARM, its parent firm World Federation of Advertisers (WFA), and members including CVS Health, Mars, Orsted and Unilever.

In an open letter to advertisers, X CEO Linda Yaccarino highlighted the reasons behind the lawsuit, stating that it was a direct response to GARM’s actions which allegedly cost the company billions of dollars. “This is not a decision we took lightly, but it is a direct consequence of their actions,” Yaccarino wrote. “The illegal behavior of these organizations and their executives cost X billions of dollars” per The New York Post.

The lawsuit is seeking trebled compensatory damages and injunctive relief, according to a complaint viewed by The New York Post. GARM, led by Robert Rakowitz, is an initiative of the WFA, which represents many of the world’s largest companies and ad organizations, including Disney and Coca-Cola. Its members control 90% of global marketing spending, nearly $1 trillion per year.

Yaccarino emphasized that the issue extends beyond financial damages. “This case is about more than damages — we have to fix a broken ecosystem that allows this illegal activity to occur,” she added.

According to The New York Post, the suit argues that the boycott undermined the marketplace of ideas by financially harming certain viewpoints over others. (Credit: PYMNTS)

Full article and coverage via PYMNTS

https://pymnts.com/cpi-posts/elon-musks-x-files-antitrust-suit-against-global-advertising-alliance/

PYMNTS is a former Media Man 'Business News Outlet Of The Month' award winner and finalist

News

Elon Musk takes GARM, several companies to court over alleged advertising boycott of X outlined in bombshell report

August 7, 2024

Tech billionaire Elon Musk has taken several companies and an advertising alliance to court over allegations of a "boycott" of X.

Elon Musk has waged “war” against advertisers as his social media platform X filed an antitrust lawsuit against a global ad alliance and several major companies, accusing them of illegally boycotting the site.

X filed a suit in a federal court in Texas against the World Federation of Advertisers (WFA), the Global Alliance for Responsible Media (GARM) and its members CVS Health, Mars, Orsted and Unilever.

The suit comes after a report from the US House of Representatives Judiciary Committee found GARM and its members “directly organised boycotts” and employed other indirect tactics to target disfavoured “platforms, content creators” and news organisations to demonetise them.

It alleges that GARM’s boycott led advertisers to pull money from X under the guise of “brand safety” concerns.

X’s CEO Linda Yaccarino argued this tactic hindered users on the social media platform from accessing a wide breadth of ideas by funding alternative viewpoints.

“The consequence - perhaps the intent - of this boycott was to seek to deprive X’s users, be they sports fans, gamers, journalists, activists, parents or political and corporate leaders, of the Global Town Square,” she wrote.

“To put it simply, people are hurt when the marketplace of ideas is undermined and some viewpoints are not funded over others as part of an illegal boycott.”

Mr Musk shared his colleague’s statement to the platform and boldly declared: “We tried peace for 2 years, now it is war.”

He later encouraged “any company who has been systematically boycotted” to file a suit.

Following his post, video sharing platform Rumble joined Mr Musk’s lawsuit, claiming it has also been impacted towards GARM’s alleged skew away from right wing voices and ideologies.

The platform announced its move on X where it accused GARM of being “a conspiracy to perpetrate an advertiser boycott of Rumble and others, and that's illegal”.

Since Musk took over the social media platform in October 2022, X has suffered a serious dive in ad dollars with the platform taking in US$2.5 billion in 2023, according to Bloomberg.

This was down from the US$1bn it was bringing in every quarter of 2022.

Musk triggered controversy again in November 2023 when he endorsed an anti-Semitic conspiracy theory that Jewish communities push “hatred against whites”.

The X owner responded: “You have said the actual truth,” sparking an advertiser exodus that was reported to have lost the company as much as $75m, per The New York Times.

He made headlines again in the same month after blasting advertisers boycotting the social media platform, boldly declaring: “Go f**k yourself”.

“If somebody is going to try to blackmail me with advertising, blackmail me with money, go f**k yourself. Go f**k yourself. Is that clear? I hope it is,” he said. (Sky News Australia)

Full article and coverage via Sky News Australia

https://www.skynews.com.au/business/media/elon-musk-takes-garm-several-companies-to-court-over-alleged-advertising-boycott-of-x-outlined-in-bombshell-report/news-story/7bac6243aada770042d14ca84afc23e7

Technology News (Media Man Int) https://mediamanint.com/news3.html

Advertising News (Media Man Int) https://mediamanint.com/advertising_news.html

Media News (Media Man Int) https://mediamanint.com/news2.html

Yahoo Finance wins Media Man 'Business News Outlet Of The Month' award

PYMNTS wins Media Man 'Businees News Outlet Of The Month' award

Market, Commodities and Financial News Snapshot via Media Man

August 7, 2024

Australian Dollar: $0.6520 USD (up $0.0024 USD)

Iron Ore Sep Spot Price (SGX): $102.85 USD (down $0.70 USD)

Oil Price (WTI): $72.96 USD (down $1.02 USD)

Gold Price: $2,389.45 USD (down $19.96 USD)

Copper Price (CME): $4.0095 USD (up $0.0085 USD)

Bitcoin: $56,485.71 USD (up 3.10% in last 24 hours)

Dow Jones: 38,997.66 at 5.02pm NY time (up 294.39 points on yesterday's close)

(Roy Morgan Summary)

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July 29, 2024

ASX futures up 60 points or 0.8% to 7938 near 3am AEST

AUD +0.2% to 65.48 US cents

Bitcoin -0.6% to $US67,636

Dow +1.6%

S&P +1.1%

Nasdaq +1%

FTSE +1.2%

DAX +0.7%

CAC +1.2%

Gold +1.0% to $US2387.19 an ounce

Brent oil -1.5% to $US81.13 a barrel

Iron ore +2.5% to $US102.40 a tonne

Business News: Australia

(Roy Morgan Summary)

ASX to fall as investors await big tech earnings

July 22, 2024

Futures pricing suggests that Australian equities will shed about 0.8 per cent when the market opens on Monday, following a negative lead from Wall Street. A dearth of local economic data means that investors will be focused on offshore markets over the coming week; the quarterly reporting season in the US is likely to attract scrutiny, with two of the seven major technology companies set to release their latest financial results in coming days. The S&P/ASX 200 fell 0.8 per cent to 7,961.6 points on Friday.

(Roy Morgan Summary)

News

Lithium stocks targeted by short sellers

Australian Securities & Investments Commission data has revealed that seven companies on the ASX had more than 10 per cent of their shares reported as shorted as at 12 July, compared to just one in the previous year. Companies involved in the mining of lithium and other materials used in the manufacture of electric vehicles account for seven of the 10 most shorted stocks on the ASX, with 21.06 per cent of Pilbara Minerals shares reported as shorted. Oscar Oberg from Wilson Asset Management says Pilbara Minerals' reported short position is unheard of; he adds that Pilbara Minerals is being shorted because demand for electric vehicles is not as strong as had been forecast.

News

Mortgage cliff turns into a subsiding wave

PEXA Group's chief economist Julie Toth believes that the rush for Australians to refinance their mortgage loans has peaked. She adds that rather than a 'mortgage cliff', the nation has experienced only a 'wave' as borrowers have shifted their loans to variable interest rates after their fixed-loan period expired. Toth adds that there has been a slight increase in mortgage arrears and distressed sales in response to the Reserve Bank's aggressive monetary policy tightening cycle; she expects arrears to remain stable if there are no more interest rate increases.

News

CSR's insulation price rise 'could be gouging'

Insulation distributor Consolidated Energy alleges that building materials group CSR misused its market power to 'gouge' suppliers with huge increases in the price of insulation; it is seeking internal documents and board papers in order to prove its claim. Consolidated Energy is asking the Federal Court to grant its request that CSR be required to hand over information relating to price increases between June 2021 and June 2022; Consolidated Energy alleges that CSR was limiting supply to distributors and imposing big price increases in order to benefit its own business.

News

Coal boss: use gas to ease the transition

Data from the Australian Energy Market Operator has revealed that no renewable energy project that was in the commissioning stage reached full output in June. This was despite an increase in renewable energy projects being ready to come online, prompting calls from Delta Electricity CEO Richard Wrightson for gas to be included in the federal government's Capacity Investment Scheme. With Delta being the owner of the Vales Point coal plant in NSW, Wrightson says gas is the only technology available now that can solve the firming problem, but it is the only technology that is being supported by the government's scheme.

News

Fortescue now marching 'to the one beat'

July 20, 2024

(Roy Morgan Summary)

Andrew Forrest surprised investors at its 2020 AGM when he outlined a vision for the iron ore mining company that would see it become a green energy behemoth. He said Fortescue would be targeting production of as much as 235 gigawatts or renewable energy, more than five times the capacity of Australia's National Electricity Market at the time. However, Forrest has now conceded it cannot achieve its target of producing 15 million tonnes of green hydrogen a year by 2030 because of soaring energy costs, although he contends Fortescue's green energy dream is still alive. Fortescue will now bring its iron ore and green energy units back together, with Forrest saying that all of the company are "all marching in the same direction, to the same drum beat".

(Roy Morgan Summary)

Commodities News: Gold via Media Man and FxPro

July 7, 2024

Weakness in gold's growth

Gold has lost 0.9% since the start of Monday, almost back to the point where it was trading before the release of jobs data on Friday. Perhaps the very first market reaction to the data release highlighted the mindset of key market participants: they are ready to sell.

Gold has been on an upward trend since the last few days of June, leading the price up 4% to $2390 at its peak on Friday. This can largely be attributed to the dollar's 1% decline, as gold often moves with a higher amplitude.

Weak employment figures also pushed up the gold price on Friday, leading to a weaker dollar and bringing the start of rate cuts closer. However, we note the momentum of the 0.8% decline in gold in the first moments after publication.

The subsequent market reaction was a "worse is better" style: the weakness in the labour market increased expectations of a rate cut soon, which boosted risk appetite. But this is a very unsustainable play, as not all the negativity in the macro economy is disinflationary. Just the opposite, we saw confirmation of wage growth (4.1% y/y) above inflation (3.3% y/y). At the same time, the previous months' hiring figures were revised downward, and the unemployment rate reached a 31-month high.

Thus, the economic situation is deteriorating faster than inflation is slowing. A key rate cut, in this case, would be an attempt to support economic growth rather than remove excessive tightness in monetary policy. That is, the chances of a cut for "bad" reasons rather than good ones are growing, which is negative for risk appetite in the medium term.

On the charts, gold has so far hit resistance at $2390, which also caused a local reversal in April. Further improvement in risk appetite in global financial markets cannot be ruled out and may be helped by the reporting season. Gold's ability to gain strength above $2390 could serve as an important price signal, heralding a fresh assault on historical highs near $2450.

However, we see more chance of further pressure on the gold price. We see the 50-day moving average at $2340 as the first signalling point. If this line is stormed without bullish resistance, the price could quickly retreat to the $2300 area, which is crucial for determining the dynamics for the coming months. A fall below it would be seen as a break of the bullish trend since October when the Fed first signalled its willingness to cut rates.

Markets and Commodities

July 9, 2024

Australian Dollar: $0.6735 USD (down $0.0003 USD)

Iron Ore Aug Spot Price (SGX): $108.75 USD (down $1.50 USD)

Oil Price (WTI): $82.30 USD (down $0.86 USD)

Gold Price: $2,358.93 USD (down $32.66 USD)

Copper Price (CME): $4.6035 USD (down $0.0645 USD)

Bitcoin: $56,215.84 USD (down 1.75% in last 24 hours)

Dow Jones: 39,344.79 (down 31.08 points on Friday's close)

(Roy Morgan Summary)

Economic conditions (including inflation and prices) are the biggest challenge facing Australian farmers

A special Roy Morgan survey of Australian farmers shows a majority of farmers (57%) say the biggest challenge they are facing is economic conditions (including inflation/prices), up 8% points from a year ago and up a large 22% points from 2022.

In a clear second place is Government policy mentioned by 23% of farmers, almost doubling from a year ago (up 11% points from 2023) and up by 17% points from 2022. Over the last two years Government policy has increased from equal fifth to a clear second place in the list of challenges.

Staffing issues, including finding sufficient labour for their farms, are the third most prominent issue and mentioned by 18% of farmers as the biggest challenge they face, up 5% points from a year ago.

Filling out the top five issues were weather, mentioned by 16% of farmers, business viability, also at 16% and somewhat surprisingly, climate change, mentioned by only 7% of farmers and down from a year ago.

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Euro, Gold, Crypto and more via Media Man and FX Pro

A strong current account surplus may not help euro

The eurozone's current account surplus climbed to a six-month high of 31.9bn in December. Analysts, on average, had expected a decline to 20.3 bn from 22.5 bn the previous month. The current level was seen in the eurozone during the relatively benign pre-Covid period and sometime before Natural Gas prices spiked in the second half of 2021.

The normalisation of the surplus is good news for the single currency, as it means more net capital inflows into the region. But this growth has been fuelled by falling imports, which can be the result of lower commodity and energy prices (which is a very good thing), but also partly indicative of a slowdown in domestic demand. This threatens to translate into economic contraction in the coming months.

The euro area experienced periods of severe import contraction in late 2008 and early 2010, and in both cases, the economy experienced a severe downturn. Back in 2008, all this was accompanied by the collapse of the euro.

Gold

Gold rises but within a downward channel

Gold rallied for the fourth consecutive session to reach $2023, recovering almost all the losses suffered the week before on the back of the inflation report. Gold's ability to rally suggests continued domestic demand, as some investors are clearly rushing to buy back any losses.

At the same time, however, we note that since the beginning of the year, gold has been characterised by solid selloffs on the news, forming a smooth downtrend. In the context of this downtrend, a rise to $2040-2045, which is the upper boundary of the bearish range, looks quite acceptable.

The area around $2035 - the highs of two weeks ago - also appears to be a crucial intermediate level. Confident buying from this level would be the first important signal that the recent correction is over and that gold is ready to make a fresh assault on the highs.

Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.

Consolidation at this level would confirm the breakdown of the downtrend and set the stage for a move towards $2100 and the subsequent renewal of historic highs.

However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.

Among the fundamental factors, the potential for growth could be provided by the fall in the dollar if Fed officials show a softening of their position, bringing the start of interest rate cuts closer.

On the bearish side, equities could come under pressure following the optimistic rally in the tech giants and the news of a sharp slowdown in economic activity. We also do not rule out the possibility that the recent support measures for the Chinese stock market and property sector will cool demand for gold as a safe-haven for investors from that part of the world.

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Gold is a chemical element with the symbol Au (from Latin: aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in a pure form. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental (native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

Gold is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid), forming a soluble tetrachloroaurate anion. Gold is insoluble in nitric acid alone, which dissolves silver and base metals, a property long used to refine gold and confirm the presence of gold in metallic substances, giving rise to the term 'acid test'. Gold dissolves in alkaline solutions of cyanide, which are used in mining and electroplating. Gold also dissolves in mercury, forming amalgam alloys, and as the gold acts simply as a solute, this is not a chemical reaction.

A relatively rare element,[6][7] gold is a precious metal that has been used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy. Gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard was abandoned for a fiat currency system after the Nixon shock measures of 1971.

In 2020, the world's largest gold producer was China, followed by Russia and Australia.[8] A total of around 201,296 tonnes of gold exists above ground, as of 2020.[9] This is equal to a cube with each side measuring roughly 21.7 meters (71 ft). The world consumption of new gold produced is about 50% in jewelry, 40% in investments and 10% in industry.[10] Gold's high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity have led to its continued use in corrosion-resistant electrical connectors in all types of computerized devices (its chief industrial use). Gold is also used in infrared shielding, production of colored glass, gold leafing, and tooth restoration. Certain gold salts are still used as anti-inflammatories in medicine. (Wikipedia)

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In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.

The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price.

Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory.

Hard and soft commodities

Soft commodities are goods that are grown, such as wheat, or rice.

Hard commodities are mined. Examples include gold ,silver, helium, and oil.

Energy commodities include electricity, gas, coal and oil. Electricity has the particular characteristic that it is usually uneconomical to store, and must therefore be consumed as soon as it is produced.

(Wikipedia)

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A strong current account surplus may not help euro

The eurozone's current account surplus climbed to a six-month high of 31.9bn in December. Analysts, on average, had expected a decline to 20.3 bn from 22.5 bn the previous month. The current level was seen in the eurozone during the relatively benign pre-Covid period and sometime before Natural Gas prices spiked in the second half of 2021.

The normalisation of the surplus is good news for the single currency, as it means more net capital inflows into the region. But this growth has been fuelled by falling imports, which can be the result of lower commodity and energy prices (which is a very good thing), but also partly indicative of a slowdown in domestic demand. This threatens to translate into economic contraction in the coming months.

The euro area experienced periods of severe import contraction in late 2008 and early 2010, and in both cases, the economy experienced a severe downturn. Back in 2008, all this was accompanied by the collapse of the euro.

Gold

Gold rises but within a downward channel

Gold rallied for the fourth consecutive session to reach $2023, recovering almost all the losses suffered the week before on the back of the inflation report. Gold's ability to rally suggests continued domestic demand, as some investors are clearly rushing to buy back any losses.

At the same time, however, we note that since the beginning of the year, gold has been characterised by solid selloffs on the news, forming a smooth downtrend. In the context of this downtrend, a rise to $2040-2045, which is the upper boundary of the bearish range, looks quite acceptable.

The area around $2035 - the highs of two weeks ago - also appears to be a crucial intermediate level. Confident buying from this level would be the first important signal that the recent correction is over and that gold is ready to make a fresh assault on the highs.

Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.

Consolidation at this level would confirm the breakdown of the downtrend and set the stage for a move towards $2100 and the subsequent renewal of historic highs.

However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.

Among the fundamental factors, the potential for growth could be provided by the fall in the dollar if Fed officials show a softening of their position, bringing the start of interest rate cuts closer.

On the bearish side, equities could come under pressure following the optimistic rally in the tech giants and the news of a sharp slowdown in economic activity. We also do not rule out the possibility that the recent support measures for the Chinese stock market and property sector will cool demand for gold as a safe-haven for investors from that part of the world.

Cryptocurrency

Crypto market growth halted amid capital inflows

Market picture

The crypto market has corrected 0.46% in the last 24 hours, fluctuating within a narrow range without a clear direction. Bitcoin is down 1% but up 3.7% over seven days, Ethereum is flat for the day but up 10.6% over the week. The top coins are mixed with BNB +2% and Solana -2.5%.

Bitcoin is currently drawing its fourth daily candle with opening and closing levels close to each other. Such sideways consolidations are characteristic of strong bull markets, as opposed to corrective pullbacks on smoother rallies.

Ethereum hit local highs on rumours of a positive regulatory decision before the end of March. Bloomberg analyst James Seyffarth bet 4 ETH that the SEC will not approve a spot Ethereum ETF next month.

According to data from CoinShares, investment in crypto funds rose by a record $2.452 billion last week, following inflows of $1.116 billion the previous week.
Bitcoin investments increased by $2.424 billion, Ethereum by $21 million, Cardano lost $6 million, and Solana lost $1.6 million.

Since the beginning of the year, crypto funds have seen inflows of an impressive $5.2 billion, with total AUM rising to $67 billion, the highest since December 2021.

News background

Bitcoin will see institutional support in the next three to six months, according to Coinbase. Bitcoin ETFs could eventually become a major competitor to gold funds.
According to IntoTheBlock, there is an 85% chance that Bitcoin will reach a new all-time high within the next six months. Five factors could contribute to this: the halving of the price, ETFs, monetary easing, the US election, and companies accumulating BTC as part of their treasuries.

Former CIA contractor Edward Snowden, who has been living in Russia since 2013, called bitcoin the most significant achievement of the financial system in the entire existence of money and means of exchange.

Amberdata admitted that Ethereum will outpace Bitcoin in terms of growth due to more constructive deflationary policies. The supply of ETH has been decreasing since September 2022, thanks to the update of The Merge, as well as the implementation of a mechanism to burn part of the commissions. During this time, around 0.36 million ETH, or 0.3% of the total supply of 120 million coins, have been removed from circulation.

Via Roy Morgan Research and Media Man social media

Copper, gold, and Bitcoin rise; Iron ore and oil fall; ASX to fall in response to selling on Wall Street; US vetoes Arab-backed UN resolution demanding ceasefire in Gaza; Assange's lawyers warn that he risks 'flagrant denial of justice' if he is tried in US

Latest updates on Key Economic Indicators

21 February 2024

Roy Morgan Summary

Australian Dollar: $0.6550 USD (up 0.0011 USD)
Iron Ore Mar Spot Price (SGX): $120.85 USD (down $6.40 USD)

Oil Price (WTI): $78.27 USD (down $1.02 USD)

Gold Price: $2,024.37 USD (up $6.43 USD)

Copper Price (CME): $3.8595 (up $0.0465 USD)

Bitcoin: $52,059.35 (up 0.35% in last 24 hours)

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

Market Research Update

20 February 2024

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians. One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family".

Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.: 38,582.12 at 3.22pm NY time (down 45.87 points on Friday's close)

Roy Morgan wins three-year contract to deliver domestic tourism statistics for Austrade

21 February 2024

Roy Morgan Summary

From 2025, Roy Morgan will provide Austrade with the world's best practice survey methodology, big data integration and modelling techniques to deliver accurate domestic tourism statistics. Roy Morgan has reimagined the future of domestic tourism statistics to move Austrade and its stakeholders to the forefront of tourism intelligence with a new platform that will drive the future of Australia's tourism industry, which is estimated to be worth in excess of $160 billion. Portia Morgan, the Head of Client Services at Roy Morgan, says that using face-to-face interviewing, which is the gold-standard for surveying the population, enhanced with big data and cutting-edge data science techniques, Roy Morgan will be delivering a future-proofed system that will be cost effective, reliable, and accurate. She adds that Roy Morgan has been delivering survey-based tourism insights via its Holiday Tracking Survey for 20+ years and the company is thrilled to be working with Austrade and the broader industry to provide a deeper of understanding of how many people are travelling, where they go, what they do and how they spend their valuable tourism dollars.

Anti-mining PM pushes BHP's cash offshore

Roy Morgan Summary

It is somewhat hypocritical of the federal government to flag possible support for Australia's nickel industry, given that Labor's anti-mining legislation may jeopardise the expansion of BHP's copper operations in South Australia. BHP is still likely to proceed with an expansion, but the previously touted investment of between $10bn and $15bn is now only a 50 per cent chance. The new labour laws in the government's industrial relations reforms mean that BHP is now more likely to redirect much of this capital investment to its criticals minerals projects in other countries; rival miner Rio Tinto is already doing this.

More than 2.7 million New Zealanders now read newspapers and magazine audiences surge to over 1.7 million

21 February 2024

Roy Morgan has released its readership results for New Zealand's newspapers and magazines for the 12 months to December 2023. The data shows that 2.73 million New Zealanders aged 14+ (64.4%) now read or access newspapers in an average 7-day period via print or online (website or app) platforms. In addition, 1.71 million New Zealanders aged 14+ (40.3%) read magazines, whether in print or online either via the web or an app. The New Zealand Herald is still the nation's most widely-read publication, with a total cross-platform audience of 1,720,000 in the 12 months to June 2023 - almost five times as many as the second placed Dominion Post with a readership of 341,000. Meanwhile, New Zealand's most widely read magazine is still the driving magazine AA Directions, which had an average issue readership of 379,000 during the year to December (an increase of 63,000 on a year ago).

These are the latest findings from the Roy Morgan New Zealand Single Source survey of 6,254 New Zealanders aged 14+ over the 12 months to December 2023.

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

Market Research Update

20 February 2024

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians. One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family". Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.

(Credit: Roy Morgan Research)

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians.

One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family". Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.

(Credit: Roy Morgan Research)

Media Man

Warrner Bros

Profile

In 2010, the Warner Bros. Pictures Group broke the all-time industry worldwide box office record with receipts of $4.814 billion, which surpassed the prior record of $4.010 billion (set by the Studio in 2009). Warner Bros. also established a new industry benchmark for the international box office with a total of $2.93 billion (marking a record third time of crossing the $2 billion threshold) and retained its leading domestic box office ranking with receipts of $1.884 billion. 2010 also marked the 10th consecutive year Warner Bros. Pictures passed the billion dollar mark at both the domestic and international box offices. Warner Home Video was, once again, the industry’s leader, with an overall 20.6 percent marketshare in total DVD and Blu-ray sales. The companies comprising the Warner Bros. Television Group and Warner Bros. Home Entertainment Group remain category leaders, working across all platforms and outlets, and are trendsetters in the digital realm with video-on-demand (transaction and ad-supported), branded channels, original content, anti-piracy technology and broadband and wireless destinations.

The Warner Bros. Pictures Group brings together the Studio’s motion picture production, marketing and distribution operations into a single entity. The Group, which includes Warner Bros. Pictures and Warner Bros. Pictures International, was formed to streamline the Studio’s film production process and bring those businesses’ organizational structures in line with Warner Bros.’ television and home entertainment operations.

Warner Bros. Pictures produces and distributes a wide-ranging slate of some 18-22 films each year, employing a business paradigm that mitigates risk while maximizing productivity and capital. Warner Bros. Pictures either fully finances or co-finances the films it produces and maintains worldwide distribution rights. It also monetizes its distribution and marketing operations by distributing films that are totally financed and produced by third-parties. The Studio’s 2011 slate includes “Sucker Punch,” “The Hangover Part II,” “Green Lantern,” “Harry Potter and the Deathly Hallows – Part 2,” “Happy Feet 2” and “Sherlock Holmes: A Game of Shadows.”

Warner Bros. Pictures International is a global leader in the marketing and distribution of feature films, operating offices in more than 30 countries and releasing films in over 120 international territories, either directly to theaters or in conjunction with partner companies and co-ventures.

New Line Cinema, part of Warner Bros. Entertainment since 2008, coordinates its development, production, marketing, distribution and business affairs activities with Warner Bros. Pictures to maximize film performance and operating efficiencies. Highlights of New Line’s 2011 release slate, distributed by Warner Bros., include “Horrible Bosses,” “Final Destination 5,” “A Very Harold & Kumar 3D Christmas” and “New Year’s Eve.”

The Warner Bros. Television Group oversees and grows the entire portfolio of Warner Bros.’ television businesses, including worldwide production, traditional and digital distribution, and broadcasting. In the traditional television arena, WBTVG produces primetime and cable (Warner Bros. Television and Warner Horizon Television), first-run syndication (Telepictures Productions) and animated (Warner Bros. Animation) programming, which is distributed worldwide by two category-leading distribution arms/operations (Warner Bros. Domestic Television Distribution and Warner Bros. International Television Distribution).

Among the primetime series produced by divisions of the Warner Bros. Television Group are “Two and a Half Men,” “The Big Bang Theory,” “The Mentalist,” “Mike & Molly,” “Fringe,” “Gossip Girl,” “The Vampire Diaries,” “Nikita,” “The Middle,” “Southland,” “The Closer,” “Rizzoli & Isles,” “Supernatural,” “The Bachelor,” “Pretty Little Liars,” “Randy Jackson Presents America’s Best Dance Crew” and many more. Also produced by the company are first-run syndicated programs such as “The Ellen DeGeneres Show,” “TMZ” and “Extra,” among others, as well as animated shows “Scooby-Doo! Mystery Incorporated” and “Young Justice.”

WBTVG is an innovative leader in developing new business models for the evolving television landscape, including ad-supported video-on-demand, broadband and wireless, and has digital distribution agreements in place with all of the broadcast networks. Internationally, the Studio is one of the world’s largest distributors of feature films, television programs and animation to the worldwide television marketplace, licensing some 50,000 hours of television programming, including more than 6,000 feature films and 50 current series, dubbed or subtitled in more than 40 languages, to telecasters and cablecasters in more than 175 countries.

WBTVG provides original shortform programming for the broadband and wireless marketplace through its Studio 2.0 digital venture, and its digital media sales unit is devoted specifically to multiplatform domestic advertiser sales for both broadband and wireless. WBTVG continues its strategic expansion into digital production and distribution with the launch of several advertiser-supported entertainment destinations, including TheWB.com, a premium, video-on-demand interactive and personalized network and KidsWB.com, a premium destination built around youth-oriented immersive entertainment.

The final component of WBTVG is broadcasting: The CW Television Network, launched (in partnership with CBS) in September 2006 with quality, diverse programming, is targeted to the 18–34 audience.

Warner Bros. Animation’s combined classic and contemporary library currently boasts 14,000 animated episodes and shorts which air on domestic broadcast networks, as well as cable networks and in direct-to-video releases around the world. The classic library includes such brands as Looney Tunes, Merrie Melodies, Hanna-Barbera and Ruby-Spears as well as such beloved characters as Bugs Bunny, Daffy Duck, Sylvester, Tweety, Taz, Tom and Jerry, Popeye, Batman, Superman, the Flintstones, the Jetsons and Scooby-Doo.

Warner Bros. Home Entertainment Group brings together Warner Bros. Entertainment’s home video (Warner Home Video), digital distribution (Warner Bros. Digital Distribution), interactive entertainment/videogames (Warner Bros. Interactive Entertainment), direct-to-consumer production (Warner Premiere), technical operations (Warner Bros. Technical Operations) and anti-piracy (Warner Bros. Anti-Piracy Operations) businesses in order to maximize current and next-generation distribution scenarios. WBHEG is responsible for the global distribution of content through DVD, electronic sell-through and transactional VOD, and delivery of theatrical content to wireless and online channels. It is also a significant worldwide publisher for both internal and third party videogame titles.

In 2010, Warner Home Video dominated the U.S. market as the number one company in total sell-through video (DVD and Blu-ray combined) with 20.6% marketshare, theatrical catalog, TV on DVD, non-theatrical family and animation, Blu-ray and VOD. WHV has been the number one studio in overall DVD sales 14 consecutive years, and is also the leading studio in the international home video space.

With more than 3,700 active licensees worldwide, Warner Bros. Consumer Products licenses the rights to names, likenesses and logos for all of the intellectual properties in Warner Bros. Entertainment’s vast film and television library. With a global network of offices and agents in key regions throughout the world, including North America, Latin America, Asia and Europe, WBCP maintains an ongoing commitment to expand and build the power of its core brands’ recognition in the international marketplace through strong and creative merchandising, promotional marketing and retail programs.

DC Entertainment’s DC Comics has been in continuous publication for more than 60 years, and is the leading comic book publisher in the industry and the creator of some of the world’s most recognized icons. DC’s characters continue to headline blockbuster feature films, live-action and animated television series, direct-to-video releases, collectors’ books, online entertainment, digital publishing, countless licensing and marketing arrangements and, most recently, graphic novels. DC continues to attract new readers and fans all over the world with its signature characters Superman, Batman, Wonder Woman and Justice League leading the way.

Warner Bros. International Cinemas provides a true state-of-the-art movie experience to audiences in Japan with more than 60 multiplex cinemas and more than 600 screens internationally. One of the pioneers in multiplex development for the international marketplace, WBIC is continually exploring new markets for expansion. (Credit: Warner Bros. Entertainment)

Press Release

09 August 2010

MICROGAMING SET TO LAUNCH THE LORD OF THE RINGS™: THE FELLOWSHIP OF THE RING ONLINE VIDEO SLOT GAME

First Title to Utilize Proprietary Cinematic Spins™ Technology Allowing Players to Experience the Film with Every Spin

ISLE OF MAN – Microgaming today announced the imminent launch of a new flagship game, The Lord of the Rings: The Fellowship of the Ring Online Video Slot Game. This slot game is the first to utilise Microgaming’s new Cinematic Spins™ technology, allowing gamers to see clips from the films with every spin.

The Lord of the Rings: The Fellowship of the Ring is a new online slot game that is part of a multi-year licensing agreement Microgaming signed with Warner Bros. Digital Distribution in 2009. The company is developing a series of cutting-edge, graphic rich video slots based on this popular movie trilogy and will use animation material, themes, and characters, from the trilogy of The Lord of the Rings™ motion pictures that include The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers and The Lord of the Rings: The Return of the King. These online slot games will be available to adults only in countries where online gaming is permitted.

The Lord of the Rings: The Fellowship of the Ring is the first online video slot to use Microgaming’s Cinematic Spins™ state-of-the-art gaming technology. This allows movie clips to act as moving backgrounds behind the reels during spins providing players an unprecedented level of excitement and immersion.

Win sequences and expanding wilds also use cinematic clips, instead of traditional animated graphics. The slots feature famous scenes from the film including Ringwraiths during the attack at Weathertop, Balrog in the Mines of Moria, and Uruk-hai in the woods of Middle-earth. Players will also enjoy seeing characters from the films that include Frodo, Aragorn, Saruman and the deadly Black Riders.

Roger Raatgever, CEO Microgaming comments: “Microgaming has always been ahead of the curve with innovative offerings, but this game really does push the boundaries of what an online slot can do. The Lord of the Rings: The Fellowship of the Ring looks and feels like an extension of the big screen film experience and we’re confident that our operators will see a great deal of demand from their players, when the game is released. This is an important deal for Microgaming and highlights our commitment to partner with the right brands, at the right time. The Lord of the Rings is one of the most successful and well loved brands on the planet and we are excited about combining this widespread appeal with Microgaming’s groundbreaking software.”

The Lord of the Rings Trilogy generated $3 billion in worldwide box office receipts and was nominated for a total of 30 Academy Awards®; of which they won 17, including Best Picture.

- Ends -
Notes to editors:
*Cinematic Spins is a trademark held by Microgaming

© 2010 New Line Productions, Inc. All rights reserved. The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers, The Lord of the Rings: The Return of the King and the names of the characters, items, events and places therein are trademarks of The Saul Zaentz Company d/b/a Middle-earth Enterprises under license to New Line Productions, Inc.

For further information please contact:
Duncan Skehens / Laura Moss/ Lyndsay Haywood
Lansons Communications
020 7490 8828
DuncanS@lansons.com / LauraM@lansons.com / LyndsayH@lansons.com
Warner Bros. Digital Distribution

Peter Binazeski
818-977-5701
peter.binazeski@warnerbros.com
About Microgaming (www.microgaming.com)
Since the company developed the first true online Casino software over a decade ago, it has led the industry in providing innovative, reliable gaming solutions. Thanks to an unrivalled R&D programme, that averages 60 games per year and a unique ‘partnership’ approach to working with operators; Microgaming software powers over 160 market-leading online gaming sites.
The company’s front and back-end software supports multi-player, multi-language games - over 500 of them, all uniquely branded and provides platforms for land-based and wireless gaming. Microgaming powers the world’s largest Progressive Jackpot Network and has paid out over €265million. In May 2009 it created the biggest ever online jackpot winner with a single payment win of €6.37m.

As a founding member of eCOGRA, Microgaming is at the forefront of an initiative focused on setting the highest standards in the gaming industry, and leads in the areas of fair gaming, responsible operator conduct and player protection. Microgaming has been awarded eCOGRA’s Certified Software Seal following a rigorous onsite assessment to ensure that the development, implementation and maintenance of the software is representative of industry best practice standards Microgaming licensees are therefore eligible to apply for the eCOGRA Safe & Fair Seal.

About Warner Bros. Digital Distribution
Warner Bros. Digital Distribution (WBDD) manages Warner Bros. Home Entertainment Group's (WBHEG) electronic distribution over existing, new and emerging digital platforms, including pay-per-view, electronic sell-through, video-on-demand, wireless and more. WBDD also oversees the WBHEG's worldwide digital strategy, partnerships in digital services and emerging new clients and business activities in the digital space.

News

2009

With Time Warner sitting on $7 billion in cash, the Marvel deal has ignited rumours of a second wave of consolidation in the media industry. Dream Works Animation, home of Shrek, is seen as a potential takeover candidate, as is MGM with its huge library of classic films. The games firms Electronic Arts and Take Two Interactive, with its Grand Theft Auto franchise, are also being touted as potential buys.

Profile

Warner Bros. Entertainment, Inc. (also known as Warner Bros. Pictures, or simply Warner Bros.) is one of the world's largest producers of film and television entertainment.

It is a subsidiary of Time Warner, with its headquarters in Burbank, California and New York City. Warner Bros. has several subsidiary companies, including Warner Bros. Studios, Warner Bros. Pictures, Warner Bros. Interactive Entertainment, Warner Bros. Television, Warner Bros. Animation, Warner Home Video, TheWB.com and DC Comics. Warner owns half of The CW Television Network.

Founded in 1918 by Jewish immigrants from Poland, Warner Bros. is the third-oldest American movie studio in continuous operation, after Paramount Pictures, founded in 1912 as Famous Players, and Universal Studios, also founded in 1912.