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Telix setback in drug approval in US, amid Trump workforce cuts to FDA

Telix setback in drug approval in US, amid Trump workforce cuts to FDA

Telix Pharmaceuticals says it is disappointed by a surprise US Food and Drug Administration decision to ask for more clinical evidence to support approval for its brain cancer imaging agent, a rare setback for the $9 billion ASX-listed diagnostic giant.
Telix shares fell as much as 10 per cent in early trading on Monday after the FDA said it would not approve the company's diagnostic tool called Pixclara, which identifies gliomas, a deadly form of brain cancer, until the company provided additional evidence about its benefits.

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500 jobs axed in major Jetstar move
500 jobs axed in major Jetstar move

Perth Now

timean hour ago

  • Perth Now

500 jobs axed in major Jetstar move

Qantas has announced it will close Jetstar Asia, its Singapore-based budget airline after two decades in the air, as it looks to focus on the domestic market. In an announcement to the ASX Qantas said the closure of Jetstar Asia will enable the airline to recycle up to $500m in capital and support its fleet renewal program. The airline said it would redirect 13 Jetstar Asia Airbus A320 aircraft to be progressively redeployed to Australia and New Zealand, adding 100 local jobs in the process. The decision will have zero impact to all of Jetstar and Jetstar Japan's flying into Asia. None of the highly popular routes they operate into Indonesia, Vietnam, Japan, Singapore are affected. The restructure could see up to 500 jobs axed from its Singapore operation. A statement to the ASX said employees of Jetstar Asia would be provided with redundancy benefits and employment support services, and Qantas was working to find job opportunities elsewhere in the group or with other airlines in the region. Qantas announces it is axing its Jetstar Asia flights. NewsWire / Luis Enrique Ascui Credit: News Corp Australia The airline said the closure would have a cost of approximately $175m due to one-off redundancy and restructuring costs with the first third coming this financial year, with the rest coming in 2026. Qantas Group CEO Vanessa Hudson said Jetstar Asia has been a pioneering force in the Asian aviation market for more than 20 years, making air travel accessible to millions of customers across Southeast Asia. 'We are incredibly proud of the Jetstar Asia team and the work they have done to deliver low fares, strong operational performance and exceptional customer service. This is a very tough day for them. Despite their best efforts, we have seen some of Jetstar Asia's supplier costs increase by up to 200 per cent, which has materially changed its cost base.' Qantas chief executive Vanessa Hudson thanked the Jetstar Asia crew. Qantas/NewsWire Credit: Supplied 'I want to sincerely thank and acknowledge our incredible Jetstar Asia team who should be very proud of the impact they have had on aviation in the region over the past two decades.' Qantas said the closure came after a deterioration in Jetstar Asia's earnings, with the airline facing strong competition from AirAsia and Singapore's own national carrier. Qantas said it expected the subsidiary to post an underlying earnings loss of $25 million in the six months to June 30.

St George kicks off drill assault on mammoth Brazil niobium play
St George kicks off drill assault on mammoth Brazil niobium play

West Australian

time2 hours ago

  • West Australian

St George kicks off drill assault on mammoth Brazil niobium play

St George Mining has launched a major drilling assault at its giant Araxá rare earths project in Minas Gerais, Brazil, with the company deploying three drill rigs for a substantial 10,000-metre program over the next three or so months. St George's sizable undertaking follows a recently unveiled globally significant maiden resource at Araxá, comprising 40.64 million tonnes (Mt) at 4.13 per cent total rare earth oxides (TREO) and 41.2Mt at 0.68 per cent niobium pentoxide. The campaign will be carried out alongside a high-resolution airborne magnetic survey, which is set to kick off next week. The 10,000m drilling program aims to significantly expand this resource base by combining auger, reverse circulation and diamond drilling to target the Araxá mineralisation, which remains open in all directions. The company says untested high-grade zones below 100m depth were not included in the resource. Historical drilling intersected more than 500 high-grade intercepts, including standout results such as a massive 60m at 11.1 per cent TREO, a substantial 43m grading 1.5 per cent niobium and a higher-grade 20m running 2.4 per cent niobium. Impressively, all these hits started at surface. The company's imminent drone-based airborne magnetic survey will cover the entire project area to define the carbonatite-hosted deposit's geological model and pinpoint the extent of its niobium and rare earths targets. Araxá's standout features include its free-dig near-surface resource, which sits almost entirely within 100m depth and is ideal for low-cost open-pit mining. Located in Brazil's mining-friendly Minas Gerais state, the project sits adjacent to CBMM's world-class niobium mine, which has a massive 896Mt at 1.49 per cent niobium. St George's robust local infrastructure and access to a skilled workforce enabled it to secure government backing for expedited approvals and assemble a top-tier in-country team including several former CBMM executives. The project also stacks up well against global peers such as Lynas Rare Earths' Mt Weld mine, with its massive 106Mt at 4.1 per cent TREO, and MP Materials' Mountain Pass, which holds 40.6Mt at 5.9 per cent TREO. Araxá's 40.64Mt at 4.13 per cent TREO translates to a whopping 1.7Mt of contained TREO, including 320,000 tonnes of high-value neodymium and praseodymium and 280,000t niobium, which could be just the beginning. With auger drilling already underway, the company is hoping the latest drilling results will further uncover what looks to be the next world-class mine to emerge from the fabled Brazilian carbonatite complex. Is your ASX-listed company doing something interesting? Contact:

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