Soul Patts invests in big battery developer North Harbour
The diversified investor will take about a one-third stake in the group, joining superannuation funds such as Australian Retirement Trust and King himself in backing North Harbour's strategy to build a portfolio of long-lasting storage capacity that it expects will become an increasingly important part of the energy supply mix to support renewables.
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West Australian
3 days ago
- West Australian
US President Donald Trump extends China's 125 per cent tariff by 90 days
US President Donald Trump has signed an executive order extending a tariff truce with China by another 90 days, a White House official says with only hours to go before US tariffs on Chinese goods were due to snap back to triple-digit rates. The order followed a non-committal answer by Mr Trump to reporters as to whether he would extend the lower tariff rates a day after he urged Beijing to quadruple its purchases of US soybeans. A tariff truce between Beijing and Washington was set to expire on Tuesday. The order prevents US tariffs on Chinese goods from shooting up to 145 per cent, with Chinese tariffs on US goods set to hit 125 per cent, rates that would have resulted in a virtual trade embargo. 'We'll see what happens,' Mr Trump told a press conference, when asked how he planned to extend the deadline. 'They've been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself.' Imports from China are currently subject to 30 per cent tariffs, including a 10 per cent base rate and 20 per cent in fentanyl-related tariffs imposed by Washington in February and March. China had matched the de-escalation, lowering its rate on US imports to 10 per cent. The two sides in May announced a truce in their trade dispute after talks in Geneva, Switzerland, agreeing to a 90-day period to allow further talks. They met again in Stockholm, Sweden in late July, but did not announce an agreement to further extend the deadline. Kelly Ann Shaw, a senior White House trade official during Mr Trump's first term and now with Akin Gump Strauss Hauer & Feld, said she expected Mr Trump to extend the 90-day 'tariff détente' for another 90 days later on Monday. 'It wouldn't be a Trump-style negotiation if it didn't go right down to the wire,' she said, adding Mr Trump could also announce progress in other aspects of the economic relationship as a backdrop for granting the extension. 'The whole reason for the 90-day pause in the first place was to lay the groundwork for broader negotiations and there's been a lot of noise about everything from soybeans to export controls to excess capacity over the weekend.' Ryan Majerus, a former US trade official now with the King & Spalding law firm, welcomed the news. 'This will undoubtedly lower anxiety on both sides as talks continue, and as the US and China work toward a framework deal in the fall. I'm certain investment commitments will factor into any potential deal, and the extension gives them more time to try and work through some of the longstanding trade concerns,' he said. The White House declined to comment beyond Mr Trump's remarks. The Treasury Department and US Trade Representative's Office did not respond to requests for comment. US Treasury Secretary Scott Bessent has said Washington has the makings of a deal with China and he was 'optimistic' about the path forward. Mr Trump pushed for additional concessions on Sunday, urging China to quadruple its soybean purchases, although analysts questioned the feasibility of any such deal. But Washington has also been pressing Beijing to stop buying Russian oil, with Mr Trump threatening to impose secondary tariffs on China.
Perth Now
3 days ago
- Perth Now
Trump extends China tariff truce by another 90 days
US President Donald Trump has signed an executive order extending a tariff truce with China by another 90 days, a White House official says with only hours to go before US tariffs on Chinese goods were due to snap back to triple-digit rates. The order followed a non-committal answer by Mr Trump to reporters as to whether he would extend the lower tariff rates a day after he urged Beijing to quadruple its purchases of US soybeans. A tariff truce between Beijing and Washington was set to expire on Tuesday. The order prevents US tariffs on Chinese goods from shooting up to 145 per cent, with Chinese tariffs on US goods set to hit 125 per cent, rates that would have resulted in a virtual trade embargo. 'We'll see what happens,' Mr Trump told a press conference, when asked how he planned to extend the deadline. 'They've been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself.' Imports from China are currently subject to 30 per cent tariffs, including a 10 per cent base rate and 20 per cent in fentanyl-related tariffs imposed by Washington in February and March. China had matched the de-escalation, lowering its rate on US imports to 10 per cent. The two sides in May announced a truce in their trade dispute after talks in Geneva, Switzerland, agreeing to a 90-day period to allow further talks. They met again in Stockholm, Sweden in late July, but did not announce an agreement to further extend the deadline. Kelly Ann Shaw, a senior White House trade official during Mr Trump's first term and now with Akin Gump Strauss Hauer & Feld, said she expected Mr Trump to extend the 90-day 'tariff détente' for another 90 days later on Monday. 'It wouldn't be a Trump-style negotiation if it didn't go right down to the wire,' she said, adding Mr Trump could also announce progress in other aspects of the economic relationship as a backdrop for granting the extension. 'The whole reason for the 90-day pause in the first place was to lay the groundwork for broader negotiations and there's been a lot of noise about everything from soybeans to export controls to excess capacity over the weekend.' Ryan Majerus, a former US trade official now with the King & Spalding law firm, welcomed the news. 'This will undoubtedly lower anxiety on both sides as talks continue, and as the US and China work toward a framework deal in the fall. I'm certain investment commitments will factor into any potential deal, and the extension gives them more time to try and work through some of the longstanding trade concerns,' he said. The White House declined to comment beyond Mr Trump's remarks. The Treasury Department and US Trade Representative's Office did not respond to requests for comment. US Treasury Secretary Scott Bessent has said Washington has the makings of a deal with China and he was 'optimistic' about the path forward. Mr Trump pushed for additional concessions on Sunday, urging China to quadruple its soybean purchases, although analysts questioned the feasibility of any such deal. But Washington has also been pressing Beijing to stop buying Russian oil, with Mr Trump threatening to impose secondary tariffs on China.
The Australian
3 days ago
- The Australian
Little MacKenzie delivers growth potential for GPR
Trenching at Geopacific's flagship Woodlark project reveals intersections up to 16.6g/t gold A 30,000m drilling program is underway targeting under explored southwest corner of the Woodlark King mining centre Strong results support completion of DFS by year-end, enhancing the project's production outlook Special report: Geopacific Resources' latest surface trenching results confirm more growth potential at the 1.67Moz Woodlark Project, with high-grade gold discovered at the Little MacKenzie prospect and a significant 30,000m drill campaign underway. The latest trenching campaign has significantly extended known surface mineralisation in the area, with standout gold intersections over a 1km strike including 6m at 6.24g/t of gold, 2m at 16.6g/t gold and 10m at 4.33g/t gold. These results build on Geopacific Resources (ASX:GPR) previous surface auger sampling in the same areas, which revealed multiple zones grading over 1g/t gold and peak assays up to a jaw-dropping 63.6g/t. These highlight the PNG project's significant exploration upside as the company works towards completion of its definitive feasibility study by the end of this year. The trenching is part of an ongoing program of field mapping and sampling activities at the under-explored southwest corner of the project within the Woodlark King mining centre. This already contains 1.97Mt at 1.04g/t gold for 66,000oz inferred at Wayai Creek, and 5.26Mt at 0.85g/t for 142,000oz gold inferred and indicated at Woodlark King. CEO James Fox said: 'These trenching results confirm the strong prospectivity of the broader Woodlark King area, with the high-grade auger results and extensive surface anomalies extending known mineralisation over an approximate 1km north-south strike extent." 'A second diamond rig has now arrived on site to complement the existing diamond and RC rigs, along with additional earthmoving equipment to assist with road and pad construction. 'The Little MacKenzie and Wayai Creek targets are shaping up as compelling additions to our pipeline. With a major 30,000 metre drill program well underway, we are excited by the potential to build on our 1.67Moz resource base.' Drilling to DFS First assays for the 30,000m drill drive are expected later this month. GPR is targeting new discoveries and resource extensions, including Woodlark's potential to host a porphyry-style mineralisation, as well as geotechnical data for the DFS. An independent study by porphyry specialist Dr Bruce Rohrlach outlined 14 porphyry-style targets, with three high-priority zones set for future testing. Porphyry deposits are a major source of gold, copper and silver, which means these targets have the potential to substantially add to the mineral endowment of the district. So far, Geopacific has completed 43 mainly RC pre-collars for 3,139 m, with diamond drilling at key locations such as the plant site and Kulumadau, and RC drilling at Busai (Federation and Vulcan), Kamwak, and Boscalo North. A second diamond rig is now on site to accelerate drilling at the Great Northern deposit. Meanwhile the DFS is on track for release late in Q4 2025 for the project, with key licences already in place. Ahead of the scheduled DFS, mid-tier gold miner St Barbara (ASX:SBM) is set to become a 14.4% strategic shareholder in GPR via a share swap with Patronus Resources (ASX: PTN). This will bring significant local operating expertise to Geopacific's register, subject to Patronus shareholder approval at a general meeting on August 20, as St Barbara operates the Simberi mine in PNG. Pic: Geopacific Resources This article was developed in collaboration with Geopacific Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
