Australia dodges bullet as Trump keeps base tariff at 10pc
To the relief of the Albanese government, there was no specific mention of Australia on Friday morning AEST when Trump issued an executive order updating the reciprocal tariffs on more than 40 countries which he announced on 'liberation day' in early April.
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Sky News AU
15 minutes ago
- Sky News AU
Albanese must guarantee Australia is not ‘rewarding terrorists'
Shadow Foreign Affairs Minister Michaelia Cash has accused the Albanese government of recklessly distributing taxpayer funds, warning $20 million in aid could be indirectly supporting terrorism. 'Mr Albanese needs to guarantee to the Australian people that this $20 million of taxpayer funds is not going to reward terrorism,' Ms Cash told Sky News host Sharri Markson. 'Shame on Mr Albanese and Penny Wong for not sitting back and understanding the actions the Anthony Albanese Labor government are taking … you are embalming and you are rewarding terrorists. 'This wasn't a protest; it was a political statement using one of our most iconic pieces of infrastructure, which has yet again emboldened Hamas.'
The Advertiser
18 minutes ago
- The Advertiser
Rivers of gold pour into Kalgoorlie for mining forum
Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said. Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said. Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said. Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said.
News.com.au
26 minutes ago
- News.com.au
Trump envoy's visit will be 'important', Moscow says
The Kremlin said Monday it was anticipating "important" talks with Donald Trump's special envoy, Steve Witkoff, later this week, ahead of the US president's looming deadline to impose fresh sanctions on Moscow if it does not make progress towards a peace deal with Ukraine. Trump confirmed Sunday that special envoy Steve Witkoff will visit Russia, likely on "Wednesday or Thursday", where he is expected to meet President Vladimir Putin. Speaking to reporters, Trump also said that two nuclear submarines he deployed following an online row with former Russian president Dmitry Medvedev were now "in the region". Trump has not said whether he meant nuclear-powered or nuclear-armed submarines. He also did not elaborate on the exact deployment locations, which are kept secret by the US military. Russia, in its first comments on the deployment, urged "caution". The nuclear saber-rattling came against the backdrop of a deadline set by Trump at the end of next week for Russia to take steps towards ending the Ukraine war or face unspecified new sanctions. The Republican leader said Witkoff would visit "I think next week, Wednesday or Thursday". Russian President Vladimir Putin has already met Witkoff multiple times in Moscow, before Trump's efforts to mend ties with the Kremlin came to a grinding halt. When reporters asked what Witkoff's message would be to Moscow, and if there was anything Russia could do to avoid the sanctions, Trump replied: "Yeah, get a deal where people stop getting killed." The Kremlin said another meeting with Putin was possible and that it considered talks with Witkoff to be "important, substantial and helpful". On the submarines, Kremlin spokesman Dmitry Peskov said: "Russia is very attentive to the topic of nuclear non-proliferation. And we believe that everyone should be very, very cautious with nuclear rhetoric." - 'Secondary tariffs' - Trump has previously threatened that new measures could mean "secondary tariffs" targeting Russia's remaining trade partners, such as China and India. This would further stifle Russia, but would risk significant international disruption. Despite the pressure from Washington, Russia has continued its onslaught against its pro-Western neighbor. Putin, who has consistently rejected calls for a ceasefire, said Friday that he wants peace but that his demands for ending his nearly three-and-a-half-year invasion were "unchanged". "We need a lasting and stable peace on solid foundations that would satisfy both Russia and Ukraine, and would ensure the security of both countries," Putin told reporters. But he added that "the conditions (from the Russian side) certainly remain the same". Russia has frequently called on Ukraine to effectively cede control of four regions Moscow claims to have annexed, a demand Kyiv has called unacceptable. Putin also wants Ukraine to drop its ambitions to join NATO. - Sochi drone attack - Ukraine launched a drone attack Sunday which sparked a fire at an oil depot in Sochi, the host city of the 2014 Winter Olympics. Kyiv has said it will intensify its air strikes against Russia in response to an increase in Russian attacks on its territory in recent weeks, which have killed dozens of civilians. Russia's Ministry of Defence said on Monday its air defences intercepted 61 Ukrainian drones overnight. One person was killed by Russian shelling in the southern Kherson region, Ukrainian military authorities said in a Telegram post early Monday. Ukrainian President Volodymyr Zelensky also said Sunday that the two sides were preparing a prisoner exchange that would see 1,200 Ukrainian troops return home, following talks with Russia in Istanbul in July. Trump began his second term with his own rosy predictions that the war in Ukraine -- raging since Russia invaded its neighbor in February 2022 -- would soon end. In recent weeks, Trump has increasingly voiced frustration with Putin over Moscow's unrelenting offensive.
