Rio Tinto aims to cut BHP's potash lunch as it tests low-cost mining
Potash is a potassium-rich product sold to farmers as a crop nutrient, and for more than a decade both BHP and Rio have held potash tenements in the Canadian province of Saskatchewan, which is among the world's top production zones for the commodity.
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West Australian
an hour ago
- West Australian
Evolution Mining doubles profit and jacks up dividend on record gold surge
Evolution Mining will shower investors with the spoils of a record profit that more than doubles last year's, in a roaring result that could set the scene for a bumper goldie reporting season. The Sydney-based miner, which recently completed a major production expansion to the Mungari mine near Kalgoorlie, increased statutory profit by 119 per cent to $926 million for the 2025 financial year. Prices for the tumult and inflation-hedge driven commodity reached an all-time high in April, sending Evolution's achieved gold price up 35 per cent to $4300 on the 750,512 ounces of gold produced during the year. All-in sustaining costs of $1653 an ounce were up 12 per cent, however, as the miner made the most of higher prices and processed its lower-grade stockpiles. The board declared a fully franked final dividend of 13¢ a share for the year, compared to 5¢ a share in the prior year. Evolution chief executive Lawrie Conway said the miner would be focused on delivering high margins in the new financial year, when it expects to hit production of between 710,000 and 780,000oz. 'Our cost and production performance in the year saw our balance sheet continue to strengthen, with gearing levels falling while successfully delivering several major capital projects,' he said. Evolution runs two mines in NSW, two in Queensland, and one in WA — the Mungari gold project, about 20km west of Kalgoorlie. It also owns the Red Lake mine in Canadian province of Ontario. It's among the first gold miners to report for the 2025 full-year results period. More to come.
West Australian
2 hours ago
- West Australian
Resources Technology Showcase 2025 to inspire the next generation of future thinkers
WA's powerful resources sector is leading the pack with its cutting-edge technologies, inspiring the next generation of budding entrepreneurs and innovators. The latest tech from the State's biggest mining and energy companies, as well as the businesses that service them, will be on display at the Resources Technology Showcase. The event, held every two years, will run from Sunday to Tuesday at the Perth Convention and Exhibition Centre. Premier Roger Cook said WA's economy was the strongest in the nation because 'of our incredible resources industry'. 'Making sure we can continue to showcase the great innovation, the science that goes into that industry is so important for inspiring the next generation of scientists and miners that are all going to be part of this great industry,' he said. Over the three days, students will get hands-on experience with interactive tech and real-world industry exhibits, explore WA's minerals and materials, as well as compete in high-energy STEM challenges. 'It's not just about rocks and trucks in this industry, it's how you use the technology that's out there and use it to really optimise our operations,' BHP asset president of WA iron ore Tim Day said. Rio Tinto managing director of Pilbara Mines Matthew Holcz said hopefully the event helped inspire the next generation of people in the industry. 'We're really proud that we employ some of the brightest minds in innovation who use cutting technology to make our business safer, smarter and more sustainable,' he said. WesTrac chief executive Jarvas Croome said it was important to showcase the 'the fantastic jobs that maybe our children might want to aspire to do in the future'. Top resources sector executives who have attended RTS in previous years include Rio Tinto iron ore boss Simon Trott, President of BHP Americas Brandon Craig and Hancock Prospecting group operations chief executive Gerhard Veldsman. Student Euan Anderson, 10, said it was 'really amazing' to get a sneak peek of some of the new tech and equipment. RTS 2025 is open on August 17 from 1pm to 4pm, and again on August 18 to 19 from 9am to 4pm.
The Advertiser
7 hours ago
- The Advertiser
China duties on Canadian canola may advantage Australia
China has announced preliminary anti-dumping duties on Canadian canola imports in a new escalation in the year-long trade dispute that began with Canada's imposition of tariffs on Chinese electric vehicle imports last August. The provisional rate will be set at 75.8 per cent, effective from Thursday, the Ministry of Commerce said in a statement. Canola Council of Canada president Chris Davison said that rate makes the Chinese market effectively closed for Canadian canola, to which Canada exported about C$5 billion ($A5.60 billion) of the oilseed crop in 2024. ICE November canola futures fell as much as 6.5 per cent to a four-month low after the announcement. "This really came as a surprise and a shock," trader Tony Tryhuk of RBC Dominion Securities said. China, the world's largest importer of canola which is also known as rapeseed, sources nearly all its supplies of the product from Canada. The steep duties would likely all but end imports if they are maintained. "This is huge. Who will pay a 75 per cent deposit to bring Canadian canola to China? It is like telling Canada that we don't need your canola, thank you very much," one Singapore-based oilseed trader said. China imposed tariffs on canola oil and meal in March. Canada is now in a trade conflict with the world's two largest economies, as it also faces tariffs on goods from the United States. Canada's number one canola market is the US, followed by China. China's Ministry of Commerce said an anti-dumping probe launched in September 2024 had found that Canada's agricultural sector - particularly the canola industry - had benefited from substantial government subsidies and preferential policies. The Canadian government and canola industry have previously rejected allegations of dumping. The industry believes China's complaint is based on other ongoing trade and political disputes, Davison said. A final ruling could result in a different rate, or overturn Tuesday's decision. The decision marks a shift from the conciliatory tone struck in June when China Premier Li Qiang said there were no deep-seated conflicts of interest between the countries during a phone call with Canadian Prime Minister Mark Carney. "This move ... will put additional pressure on Canada's government to sort through trade frictions with China," said Trivium China agriculture analyst Even Rogers Pay. Canada's trade, agriculture and prime minister's office did not immediately respond to request for comment. Canada has imposed tariffs on Chinese electric vehicles, steel and aluminium. Separately, China also launched an anti-dumping investigation into Canadian pea starch and imposed provisional duties on imports of halogenated butyl rubber, according to ministry statements. Replacing millions of tons of Canadian canola is likely to be difficult at short notice, analysts say. China uses imported canola to make animal feed for its aquaculture sector, as well as for cooking oil. The move provides an opportunity for Australia, which looks set to regain access to the Chinese market with test cargoes this year after a years-long freeze in the trade, Pay said. Australia, the second-largest canola exporter, has been shut out of the Chinese market since 2020 due mainly to Chinese rules to stop the spread of fungal plant disease. However, even if Australian imports increase, "fully replacing Canadian canola will be very difficult unless import demand drops sharply," said Donatas Jankauskas, an analyst with commodity data firm CM Navigator. Davison said his industry believes China will need Canada's canola to meet the sort of demand it has experienced in recent years. "I think the expectation would be that they could not meet those needs with a quality of a product and the volume that we provide," Davison said. Canadian farmers are about to begin harvesting canola and will not be happy to see prices plunge, Canadian Canola Growers Association president Rick White said. As long as the prohibitive duty is there farmers face suppressed prices. "It's going to certainly have a damping effect on price for farmers and they're going to be stuck with that," White said. China has announced preliminary anti-dumping duties on Canadian canola imports in a new escalation in the year-long trade dispute that began with Canada's imposition of tariffs on Chinese electric vehicle imports last August. The provisional rate will be set at 75.8 per cent, effective from Thursday, the Ministry of Commerce said in a statement. Canola Council of Canada president Chris Davison said that rate makes the Chinese market effectively closed for Canadian canola, to which Canada exported about C$5 billion ($A5.60 billion) of the oilseed crop in 2024. ICE November canola futures fell as much as 6.5 per cent to a four-month low after the announcement. "This really came as a surprise and a shock," trader Tony Tryhuk of RBC Dominion Securities said. China, the world's largest importer of canola which is also known as rapeseed, sources nearly all its supplies of the product from Canada. The steep duties would likely all but end imports if they are maintained. "This is huge. Who will pay a 75 per cent deposit to bring Canadian canola to China? It is like telling Canada that we don't need your canola, thank you very much," one Singapore-based oilseed trader said. China imposed tariffs on canola oil and meal in March. Canada is now in a trade conflict with the world's two largest economies, as it also faces tariffs on goods from the United States. Canada's number one canola market is the US, followed by China. China's Ministry of Commerce said an anti-dumping probe launched in September 2024 had found that Canada's agricultural sector - particularly the canola industry - had benefited from substantial government subsidies and preferential policies. The Canadian government and canola industry have previously rejected allegations of dumping. The industry believes China's complaint is based on other ongoing trade and political disputes, Davison said. A final ruling could result in a different rate, or overturn Tuesday's decision. The decision marks a shift from the conciliatory tone struck in June when China Premier Li Qiang said there were no deep-seated conflicts of interest between the countries during a phone call with Canadian Prime Minister Mark Carney. "This move ... will put additional pressure on Canada's government to sort through trade frictions with China," said Trivium China agriculture analyst Even Rogers Pay. Canada's trade, agriculture and prime minister's office did not immediately respond to request for comment. Canada has imposed tariffs on Chinese electric vehicles, steel and aluminium. Separately, China also launched an anti-dumping investigation into Canadian pea starch and imposed provisional duties on imports of halogenated butyl rubber, according to ministry statements. Replacing millions of tons of Canadian canola is likely to be difficult at short notice, analysts say. China uses imported canola to make animal feed for its aquaculture sector, as well as for cooking oil. The move provides an opportunity for Australia, which looks set to regain access to the Chinese market with test cargoes this year after a years-long freeze in the trade, Pay said. Australia, the second-largest canola exporter, has been shut out of the Chinese market since 2020 due mainly to Chinese rules to stop the spread of fungal plant disease. However, even if Australian imports increase, "fully replacing Canadian canola will be very difficult unless import demand drops sharply," said Donatas Jankauskas, an analyst with commodity data firm CM Navigator. Davison said his industry believes China will need Canada's canola to meet the sort of demand it has experienced in recent years. "I think the expectation would be that they could not meet those needs with a quality of a product and the volume that we provide," Davison said. Canadian farmers are about to begin harvesting canola and will not be happy to see prices plunge, Canadian Canola Growers Association president Rick White said. As long as the prohibitive duty is there farmers face suppressed prices. "It's going to certainly have a damping effect on price for farmers and they're going to be stuck with that," White said. China has announced preliminary anti-dumping duties on Canadian canola imports in a new escalation in the year-long trade dispute that began with Canada's imposition of tariffs on Chinese electric vehicle imports last August. The provisional rate will be set at 75.8 per cent, effective from Thursday, the Ministry of Commerce said in a statement. Canola Council of Canada president Chris Davison said that rate makes the Chinese market effectively closed for Canadian canola, to which Canada exported about C$5 billion ($A5.60 billion) of the oilseed crop in 2024. ICE November canola futures fell as much as 6.5 per cent to a four-month low after the announcement. "This really came as a surprise and a shock," trader Tony Tryhuk of RBC Dominion Securities said. China, the world's largest importer of canola which is also known as rapeseed, sources nearly all its supplies of the product from Canada. The steep duties would likely all but end imports if they are maintained. "This is huge. Who will pay a 75 per cent deposit to bring Canadian canola to China? It is like telling Canada that we don't need your canola, thank you very much," one Singapore-based oilseed trader said. China imposed tariffs on canola oil and meal in March. Canada is now in a trade conflict with the world's two largest economies, as it also faces tariffs on goods from the United States. Canada's number one canola market is the US, followed by China. China's Ministry of Commerce said an anti-dumping probe launched in September 2024 had found that Canada's agricultural sector - particularly the canola industry - had benefited from substantial government subsidies and preferential policies. The Canadian government and canola industry have previously rejected allegations of dumping. The industry believes China's complaint is based on other ongoing trade and political disputes, Davison said. A final ruling could result in a different rate, or overturn Tuesday's decision. The decision marks a shift from the conciliatory tone struck in June when China Premier Li Qiang said there were no deep-seated conflicts of interest between the countries during a phone call with Canadian Prime Minister Mark Carney. "This move ... will put additional pressure on Canada's government to sort through trade frictions with China," said Trivium China agriculture analyst Even Rogers Pay. Canada's trade, agriculture and prime minister's office did not immediately respond to request for comment. Canada has imposed tariffs on Chinese electric vehicles, steel and aluminium. Separately, China also launched an anti-dumping investigation into Canadian pea starch and imposed provisional duties on imports of halogenated butyl rubber, according to ministry statements. Replacing millions of tons of Canadian canola is likely to be difficult at short notice, analysts say. China uses imported canola to make animal feed for its aquaculture sector, as well as for cooking oil. The move provides an opportunity for Australia, which looks set to regain access to the Chinese market with test cargoes this year after a years-long freeze in the trade, Pay said. Australia, the second-largest canola exporter, has been shut out of the Chinese market since 2020 due mainly to Chinese rules to stop the spread of fungal plant disease. However, even if Australian imports increase, "fully replacing Canadian canola will be very difficult unless import demand drops sharply," said Donatas Jankauskas, an analyst with commodity data firm CM Navigator. Davison said his industry believes China will need Canada's canola to meet the sort of demand it has experienced in recent years. "I think the expectation would be that they could not meet those needs with a quality of a product and the volume that we provide," Davison said. Canadian farmers are about to begin harvesting canola and will not be happy to see prices plunge, Canadian Canola Growers Association president Rick White said. As long as the prohibitive duty is there farmers face suppressed prices. "It's going to certainly have a damping effect on price for farmers and they're going to be stuck with that," White said. China has announced preliminary anti-dumping duties on Canadian canola imports in a new escalation in the year-long trade dispute that began with Canada's imposition of tariffs on Chinese electric vehicle imports last August. The provisional rate will be set at 75.8 per cent, effective from Thursday, the Ministry of Commerce said in a statement. Canola Council of Canada president Chris Davison said that rate makes the Chinese market effectively closed for Canadian canola, to which Canada exported about C$5 billion ($A5.60 billion) of the oilseed crop in 2024. ICE November canola futures fell as much as 6.5 per cent to a four-month low after the announcement. "This really came as a surprise and a shock," trader Tony Tryhuk of RBC Dominion Securities said. China, the world's largest importer of canola which is also known as rapeseed, sources nearly all its supplies of the product from Canada. The steep duties would likely all but end imports if they are maintained. "This is huge. Who will pay a 75 per cent deposit to bring Canadian canola to China? It is like telling Canada that we don't need your canola, thank you very much," one Singapore-based oilseed trader said. China imposed tariffs on canola oil and meal in March. Canada is now in a trade conflict with the world's two largest economies, as it also faces tariffs on goods from the United States. Canada's number one canola market is the US, followed by China. China's Ministry of Commerce said an anti-dumping probe launched in September 2024 had found that Canada's agricultural sector - particularly the canola industry - had benefited from substantial government subsidies and preferential policies. The Canadian government and canola industry have previously rejected allegations of dumping. The industry believes China's complaint is based on other ongoing trade and political disputes, Davison said. A final ruling could result in a different rate, or overturn Tuesday's decision. The decision marks a shift from the conciliatory tone struck in June when China Premier Li Qiang said there were no deep-seated conflicts of interest between the countries during a phone call with Canadian Prime Minister Mark Carney. "This move ... will put additional pressure on Canada's government to sort through trade frictions with China," said Trivium China agriculture analyst Even Rogers Pay. Canada's trade, agriculture and prime minister's office did not immediately respond to request for comment. Canada has imposed tariffs on Chinese electric vehicles, steel and aluminium. Separately, China also launched an anti-dumping investigation into Canadian pea starch and imposed provisional duties on imports of halogenated butyl rubber, according to ministry statements. Replacing millions of tons of Canadian canola is likely to be difficult at short notice, analysts say. China uses imported canola to make animal feed for its aquaculture sector, as well as for cooking oil. The move provides an opportunity for Australia, which looks set to regain access to the Chinese market with test cargoes this year after a years-long freeze in the trade, Pay said. Australia, the second-largest canola exporter, has been shut out of the Chinese market since 2020 due mainly to Chinese rules to stop the spread of fungal plant disease. However, even if Australian imports increase, "fully replacing Canadian canola will be very difficult unless import demand drops sharply," said Donatas Jankauskas, an analyst with commodity data firm CM Navigator. Davison said his industry believes China will need Canada's canola to meet the sort of demand it has experienced in recent years. "I think the expectation would be that they could not meet those needs with a quality of a product and the volume that we provide," Davison said. Canadian farmers are about to begin harvesting canola and will not be happy to see prices plunge, Canadian Canola Growers Association president Rick White said. As long as the prohibitive duty is there farmers face suppressed prices. "It's going to certainly have a damping effect on price for farmers and they're going to be stuck with that," White said.
