BHP's Argentinian copper project just got bigger
BHP's $3.2 billion push into Argentinian copper has been boosted after new estimates revealed its Filo del Sol discovery, high in the Andes, contains at least five times more of the metal than was thought.
BHP acquired 50 per cent of the Filo discovery and the nearby Josemaria project last year for $US2.1 billion ($3.2 billion) under a deal with the Lundin family to jointly buy Toronto-listed company Filo Mining.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
West Australian
an hour ago
- West Australian
US government throws more weight behind Dateline rare earths
Dateline Resources has scored another major political win in its bid to develop the Colosseum rare earths project in California after United States Secretary of the Interior Doug Burgum publicly backed the mine's revival in a national television appearance. Appearing on Fox News over the weekend, Burgum, who is also chairman of the powerful National Economic Development Council (NEDC), declared the restart of the Colosseum project as 'pivotal' in securing America's critical mineral future. The Secretary underscored the importance of reducing US reliance on overseas rare earth supply chains and spotlighted the Trump administration's mission to ramp up domestic mineral production. Shortly after, Dateline's management met with Burgum in Washington DC, where federal support for the Colosseum project has been put on the fast track. The Secretary has directed the NEDC's top brass to coordinate efforts across US government agencies to expedite the project's development, effectively giving Dateline the green light for federal-level collaboration. Dateline's fully owned Colosseum project sits in California's Walker Lane Trend and already has a juicy gold resource of 27.1 million tonnes at 1.26 grams per tonne for 1.1 million ounces of gold. Last month, the company upped the gold price assumption on its gold project scoping study to US$2900 (A$4461) per ounce to deliver a whopping net present value of US$550M (A$846M) and a healthy payback of just 19 months. The project's potential for a rare earths discovery has lit up the government's radar, given its striking geological similarities to the US's only active rare earths mine - the nearby fabled Mountain Pass mine. Dateline is wasting no time capitalising on its moment in the sun and already has plans underway to start drill testing Colosseum's rare earths potential. The company pointed to the strong federal support as a massive boost to accelerate the project's permitting, environmental studies and project approvals, potentially shaving years off its development timelines. Dateline's strategic position, 10 kilometres from the Mountain Pass mine, also puts it in a prime spot to plug into existing infrastructure and logistics. This would be a huge advantage in the rare earths game, where processing options often cause a major bottleneck. With Washington on side and drilling on the horizon, Dateline could soon find itself sitting atop a dual-purpose gold and rare earths powerhouse – one with the full weight of the US government behind it. Is your ASX-listed company doing something interesting? Contact:
AU Financial Review
3 hours ago
- AU Financial Review
Monash IVF admits to second embryo transfer bungle this year
Monash IVF says it has mistakenly transferred the wrong embryo to a patient in a Melbourne laboratory, the second time in three months that the ASX-listed fertility services has admitted to the same error. Monash IVF shares slumped more than 17 per cent on Tuesday, after the company disclosed the issue, taking their slide to almost 50 per cent since the original incident was made public in early April.
ABC News
10 hours ago
- ABC News
Canada boosts defence spending to 2 per cent of GDP amid growing threats
Canada will ramp up defence spending and work more closely with Europe's defence industry amid pressure from allies, including the United States, to boost its contribution to NATO. Recently re-elected Prime Minister Mark Carney announced the move on Monday, local time, vowing to increase Canada's defence spending from 1.4 per cent of GDP to 2 per cent this year. The new funds will be spent on increased pay for the armed forces as well as on buying new submarines, aircraft, ships, armed vehicles and artillery. Canada will also acquire new radar, drones and sensors to monitor the sea floor and the Arctic, and last month announced it would be buying defence radar technology from Australia. The spending increase is five years earlier than previously planned by the country's Liberal government. "Now is the time to act with urgency, force, and determination," Mr Carney said in a speech in Toronto. "Rising great powers are now in strategic competition with America. A new imperialism threatens. Middle powers compete for interests and attention, knowing that if they are not at the table, they will be on the menu." Mr Carney also vowed the increase in spending would boost Canada's economy and manufacturing, but said much of the new equipment and weapons would be acquired by working closely with Europe's military industrial complex. Australia has also faced pressure from the US to up its defence spending, with US Secretary of Defence Pete Hegseth last week urging the Albanese government to up its military budget by $40 billion a year. Canada's bolstering of its military capabilities came as NATO Secretary General Mark Rutte called on European nations to dramatically bolster their defence budgets. In a speech at London's Chatham House on Monday local time, Mr Rutte said that for NATO to maintain credible deterrence and defence, it needs "a 400% increase in air and missile defence". "We see in Ukraine how Russia delivers terror from above, so we will strengthen the shield that protects our skies," he said. "The fact is, we need a quantum leap in our collective defence." His comments came as he pushed for NATO members to commit to ramping up defence spending at a key summit of the western military alliance later this month. The proposal is a compromise deal designed to satisfy US President Donald Trump, who has demanded that allies each spend 5 per cent of economic output on defence, up from a current commitment of two per cent. Russia condemned Mr Rutte's comments before he took to the stage, denouncing NATO as "an instrument of aggression". NATO "is demonstrating itself as an instrument of aggression and confrontation", Kremlin spokesperson Dmitry Peskov told reporters in
