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Sky News AU
3 days ago
- Business
- Sky News AU
Nyrstar Australia asks for government handout as it loses 'tens of millions a month', struggles to compete against China
The CEO of a major Australian manufacturer has begged various state and federal governments for a handout as losses mount to "tens of million a month" while China allegedly distorts the market. Metal processor Nyrstar Australia has struggled with loss making ventures in South Australia and Tasmania while its old infrastructure puts it behind competing nations. The lead and zinc refiner's boss Matthew Howell has claimed that China is 'distorting global markets' and 'eroding global operating margins' which has 'imperilled the commercial viability of domestic processing' across western nations. 'Without decisive and targeted public policy support to address the imbalance in the global refining market and modernise infrastructure, Australia risks falling further behind in this critical minerals processing,' Mr Howell said on ABC RN. 'And worse, we may lose our existing sovereign refining capability in zinc and lead and of course once lost, our ability to rebuild our smelting infrastructure and workforce pipeline would be near impossible due to cost, time and skills lost.' The boss of Nyrstar, which employs more than 1400 people across Tasmania and South Australia, said government support would be critical as the company battles with China's 'distortion'. 'What we need to do is undertake a 22-month engineering feasibility study and while we do that we are operating in a heavily distorted market where we are losing tens of millions a month because of the actions of state actors,' Mr Howell said. 'That's why we believe it is right and proper for governments to provide transitionary support to protect these strategically important industries.' Mr Howell has claimed the Chinese government subsidises companies to purchase Australian materials at prices local smelters could not afford. China then subsidises the processing of these materials and enforces export controls on the finished metals. A spokesperson for Industry Minister Tim Ayres said the government was looking into the challenges facing Nyrstar. 'We will maintain our focus on how best to secure our critical minerals and strategic materials supply, including the contribution of zinc and lead refining to production of valuable by-products,' the spokesperson said, per the Australian Financial Review.
Sky News AU
26-06-2025
- Business
- Sky News AU
Top strategic analyst says US-Australia alliance ‘in its worst shape' after government explored legality of Iran Strikes
The US-Australia alliance is in a critical condition, according to a leading strategic analyst after Finance Minister Katy Gallagher let slip the federal government had ordered legal advice into President Trump's strikes on Iranian nuclear hubs. Prime Minister Anthony Albanese was slammed for his belated support of US President Donald Trump's coordinated strikes against three significant Iranian nuclear facilities. Mr Albanese and Foreign Minister Penny Wong fronted the media on Monday morning more than 24 hours after the attack, saying they backed the US' strikes but stressed they did not want to see the regional conflict escalate into all-out war. However, in a major development to the saga, Finance Minister and close confidant of the Prime Minister Katy Gallagher revealed on Thursday that the government had ordered advice on whether the US' strikes against Iranian nuclear sites were legal. 'Look, obviously advice has been sought by – I mean, in government, as we are working through some of these issues, we get a whole lot of advice across the government,' Senator Gallagher said on ABC RN. When questioned if acquiring legal advice reflected thinking within the government that the US' strikes were illegal under international law, Ms Gallagher said that it was a routine formality. 'Well, we receive – for example, when the NSC (National Security Committee) meets, we get a whole lot of advice from across government about a whole range of things, and we don't really go into those matters publicly.' Peter Jennings, one of the county's most eminent strategic analysts said the Albanese government seeking legal advice on the matter was 'not the act of a friendly ally' and stated he was 'surprised that they need to ask a question at all.' 'I think it's very clear that America was launching these strikes in defence of Israel and in defence of America itself, and they were attacking a regime which has literally since 1979 been calling for death to America and death to Israel,' Mr Jennings said. Mr Jennings, who served as executive director of the Australian Strategic Policy Institute from 2012-22 said that by focussing on the legality of the strike the government was 'wilfully blind to the realities of what's going on in the Middle East right now' He outlined the move would be considered extremely provocative by US officials and would 'do serious damage to Australia's position in DC.' Ms Gallagher refused to share the nature or outcome of the advice and insisted that the government endorsed the US' strikes against Iran. 'I'm not going to go into the advice the government receives, but I can be clear, and I think ministers who have appeared on your program and the PM and the Foreign Minister have been very clear that we support the strikes on Iran's nuclear facilities,' she said. Mr Jennings said the emerging rift between the two countries was extremely concerning and stated 'the alliance is in its worst shape since the Whitlam/Nixon period which was more than 50 years ago.' 'One wonders then if they are trying to find a reason to distance themselves from the American strikes, because frankly you can create legal advice which will support the strikes, or also that says the strikes were illegal,' Mr Jennings said. 'This was an unnecessary step, something that the government could easily have supported on the basis of Iran's nuclear program and its international support of terrorism.' 'I just think it just shows that they're not trying to be an ally, they're trying to be a critic, and this is just not going to work with the Trump administration.' Mr Albanese, unlike British PM Keir Starmer, was not notified of the US' attacks on Iran before they were carried out, with the Prime Minister confirming he had not spoken to the US President after he abruptly left the G7 summit in Canada a day before the two were due to meet.
West Australian
25-06-2025
- Politics
- West Australian
Australian news and politics live: Gallagher defends Australia's defence spending after Trump pressure
Scroll down for the latest news and updates. Opposition Leader Sussan Ley says the Coalition's new approach to emissions reduction is focused on practical outcomes rather than meeting a fixed deadline. 'It's iterative and it's continuous, and it will develop a plan … underpinned by two goals. That we have a stable energy grid which provides affordable and reliable power for households and businesses, and that we reduce emissions so that we're playing our part in the global effort and the global challenge of climate change,' Ley told ABC RN on Thursday morning. 'So it's not ending at a certain point in time. It's not landing on a certain date. It's an important working group, and it will reflect the wide range of views on energy policy across Australia, and it will also hold up a mirror to this government, because they've made big promises on energy. 'We're going to hold them to account, and we're going to make sure that they explain to the Australian people how they are on track to reduce the cost of electricity. We haven't seen that so far.' Opposition Leader Sussan Ley says the Liberal party must do more to recruit, retain, and support women—but remains open-minded about whether quotas are the answer. 'I am agnostic on the specific methods to make it happen, but I am a zealot that it does actually happen,' Ley told ABC RN. She explained, 'Our Liberal party is a federated body, and it doesn't have a top-down instruction method … We've got state divisions. Now, some state divisions might choose to implement quotas. If they do, that's fine. If others don't, that's also fine.' 'What I made very clear yesterday is what is not fine is not having enough women. So as the first woman leader of our federal party, let me send the clearest possible message: we do need to do better. We've got to recruit better. We've got to retain better. We've got to support better.' As the conflict in the Middle East continues to create uncertainty, thousands of Australians have registered their intention to return home from Israel and Iran. Overnight, a group of Australians landed in Sydney after finally getting out of Tel Aviv on a RAAF jet. Another group is expected to arrive later on Thursday. 'We are providing further assisted travel. We've had defence assets in the region ready to go for when airspace opens up,' said Finance Minister Katy Gallagher on ABC News Breakfast. 'We had 4,000 Australians register in both Iran and Israel who have indicated they would like to come home. And so, those flights have helped with that. As airspace opens and more commercial options are available, we would expect to see more Australians coming home through those options as well.' 'We have DFAT staff assisting on the border of Azerbaijan and they will continue to be there. It is difficult. We are hoping that if the ceasefire holds, we would be able to see further options available to people. Because obviously they are the ones that are really wanting to return home as soon as possible.' Australia is facing renewed pressure to ramp up defence spending as US President Donald Trump pushes for NATO countries to lift their budgets to 5 per cent of GDP, but Finance Minister Katy Gallagher says the government is focused on targeted investment. Australia's defence spending is projected to reach about 2.4 per cent of GDP by the mid-2030s, while other NATO memebers are rapidly accelerating their military budgets in response to global uncertainty. 'We are actually already very substantially increasing our investment in defence. We've found room in tight budgets for an extra $11bn over the forward estimates and around $57.5bn over the course of the next decade,' Gallagher told ABC News Breakfast on Thursday morning. 'We have been increasing defence spending. When we came to government, it wasn't what it should have been and delivering the capability needed. We've put billions of dollars into defence. We understand the environment we're working in. We take the advice of our agencies seriously. Gallagher also stressed, 'It is a balancing act. But the government's job is to make sure that all areas of government are funded properly, including defence. Those choices are on my desk every day. We'll continue to make them in the best interests of Australia.'
The Guardian
19-02-2025
- Politics
- The Guardian
Australia news live: Dreyfus says opposition MPs privately apologised for gag move in antisemitism debate; ADF monitors Chinese warships
From 39m ago 22.15 CET Dreyfus say opposition MPs privately apologised for gag move in antisemitism debate The federal attorney general, Mark Dreyfus, spoke with ABC RN earlier, after the opposition last week attempted to gag him in parliament while talking about antisemitism. As Krishani Dhanji reported at the time, Liberal MP Michael Sukkar moved that Dreyfus no longer be heard in his response to a question on antisemitism. Tony Burke, the leader of the house, had his jaw drop open in legitimate-looking shock, while next to him Richard Marles also looked dumbfounded. Dreyfus, who is Jewish, had spoken in his answer about standing in the debris of a firebombed synagogue in Melbourne and visiting Israel. Speaking this morning, the attorney general said an 'extraordinary number' of opposition politicians had reached out to him. They saw that what happened in parliament was a mistake, and they've apologised to me for it. He didn't name those who had apologised, but said Sukkar had not. Michael Sukkar moves that Mark Dreyfus no longer be heard while speaking on antisemitism during question time on 10 February. Photograph: Lukas Coch/AAP Share Updated at 22.19 CET 4m ago 22.49 CET Victorian government announces review into public sector Benita Kolovos The Victorian premier, Jacinta Allan, and state treasurer, Jaclyn Symes, are holding a press conference to announce a review into the public sector. Allan said the review will be led by Helen Silver and will focus on 'waste, inefficiency and duplication'. This independent review is ensuring a laser-focus on every dollar of expenditure in the Victorian government's budget, like households are focusing on every dollar that they spend, so too is the Victorian government. The premier repeatedly said the review will not affect frontline services. She said her government will 'continue to invest in support at frontline services' – teachers, nurses, police, crime and child protection. Symes, who became treasurer in late December, said she has formed the view the budget 'really needs a refresh'. This is about ensuring that our frontline services are protected, the critical services of government that Victorians rely on are supported and promoted, whilst identifying duplication, inefficiencies, overlap, and indeed, maybe some of those programs that have been around for say 20 years, that are just not meeting the needs of the Victorian community. View image in fullscreen The Victorian premier, Jacinta Allan (left), and treasurer, Jaclyn Symes. Photograph: James Ross/AAP Share Updated at 22.52 CET 9m ago 22.45 CET Telstra hikes dividend and announces $750m share buy-back Telstra is raising its dividend and will spend up to $750m buying back its shares, AAP reports, after the telecommunications firm grew its first-half profit by 7.1%. Telstra has said it made $1.1bn in net profit in the first half, after a strong performance from its mobile business with 119,000 net new customers. Its revenue for the six months to 31 December was up 1.5% to $11.6bn, with earnings before interest, tax, depreciation and amortisation climbing 6% to $4.2bn. Chief executive, Vicki Brady, said: These are a strong set of results, delivering a fourth consecutive year of first-half underlying growth, reflecting momentum across our business, strong cost control and disciplined capital management. Telstra announced a 9.5% share fully franked interim dividend, up 5.6% from a year ago. The company will begin buying back its shares on 12 March. It will also spend another $800m over the next four years upgrading its mobile network in partnership with Ericsson, to optimise network management with 'self-detection and self-healing properties'. View image in fullscreen The telco grew its first-half profit by 7.1%. Photograph: Joel Carrett/AAP Share Updated at 22.47 CET 14m ago 22.40 CET Malinauskas says SA government has spoken to BlueScope about potentially buying Whyalla Peter Malinauskas said the state government had spoken with BlueScope steel, 'among other companies', about the possibility of buying the Whyalla steelworks. But he said it 'wouldn't be appropriate to go into the all the discrete detail of the discussions we've had with steel manufacturers.' BlueScope is a really good Australian company, it's publicly listed, it's well managed, it's finances are sound. So I would love to see BlueScope participate in an exercise to examine whether or not they want to purchase the steelworks, but that'll be a matter for them. Share Updated at 22.48 CET 16m ago 22.37 CET Malinauskas says SA government feeling 'confident' in yesterday's legislation The South Australian premier Peter Malinauskas also spoke with ABC RN earlier this morning after yesterday's Whyalla announcement. He was asked if the legislation that was pushed through yesterday could be legally challenged? The premier said the government received 'legal advice from some of the smartest minds we have in the nation' and were feeling confident: We live in a country where the law prevails and that affords individuals and entities rights, and they're entitled to pursue them as they see fit. But needless to say, the events that transpired in Parliament didn't take place without the South Australian government getting access to the best advice in the country, including legal advice from some of the smartest minds we have in the nation in that particular field of law, and we're rather confident. Share 20m ago 22.33 CET SA premier says he 'won't apologise' for making sure state government had everything lined up before acting on Whyalla The South Australian premier was asked if his government should have moved faster on Whyalla, given so many people have lost quite a lot of money in this process? Peter Malinauskas said that when state government's take this sort of action, 'you want to do it with caution and a degree of thoughtfulness.' So I make no apologies about making sure we got everything lined up before we act[ed]. But more than that, although there's been wide reporting globally particularly in the financial press about the state of GFG and its struggles, here in Whyalla, the workers have been getting paid. Creditors have had quarters and they have been paid. There have been challenges of late payments but still getting paid. All that started to change late last year, that's what invited the government intervention and hence what we saw in mid-February. Share 25m ago 22.29 CET Malinauskas on amount of debt owed to state government and creditors The South Australian premier, Peter Malinauskas, has been making the media rounds this morning, and spoke to ABC News Breakfast earlier about the Whyalla steelworks' administration. He was tight-lipped on the announcement the prime minister will make today, but said the state and federal governments had been 'working closely together now for some time to be able to arrive at this point'. Asked how much GFG Alliance owes the government and creditors, Malinauskas said there was 'a degree of transparency now that is going to be allowed to take place that wasn't true this time yesterday' in terms of GFG's financial situations. The numbers that have been bandied around publicly is over $300m worth of creditors that aren't being funded by GFG, and we have no reason to believe that number is in any way too small. But let's wait and see what the administrators find out about the full picture of the size of that debt. Share Updated at 22.31 CET 33m ago 22.20 CET 'Extraordinary' opposition gag attempt was 'wrong', Dreyfus says Continuing to speak on ABC RN, Mark Dreyfus said it was 'it was an extraordinary thing to gag' in the parliament. The gag is used very rarely. To seek to gag the attorney general of the Commonwealth when I'm talking about the subject as serious as this – and a subject as personal and as close to me as this – was wrong. Asked how difficult it is to juggle being attorney general with also being a member of the Jewish community, he responded he is proud of his role – but it is personal. I hope that I'm managing to balance those difficulties, but it is personal. We must never forget the Holocaust and I'll keep saying that. I've really just come back from the … 80th anniversary of the liberation of Auschwitz, a place where my great-grandmother died, was murdered by the Nazis. And it is very personal, but so it is for every member of the Jewish community. Dreyfus said he believes Australians 'stand with the Jewish community against antisemitism and stand with the Jewish community in wanting to remember the Holocaust and wanting to say 'never again'.' Share Updated at 22.24 CET 39m ago 22.15 CET Dreyfus say opposition MPs privately apologised for gag move in antisemitism debate The federal attorney general, Mark Dreyfus, spoke with ABC RN earlier, after the opposition last week attempted to gag him in parliament while talking about antisemitism. As Krishani Dhanji reported at the time, Liberal MP Michael Sukkar moved that Dreyfus no longer be heard in his response to a question on antisemitism. Tony Burke, the leader of the house, had his jaw drop open in legitimate-looking shock, while next to him Richard Marles also looked dumbfounded. Dreyfus, who is Jewish, had spoken in his answer about standing in the debris of a firebombed synagogue in Melbourne and visiting Israel. Speaking this morning, the attorney general said an 'extraordinary number' of opposition politicians had reached out to him. They saw that what happened in parliament was a mistake, and they've apologised to me for it. He didn't name those who had apologised, but said Sukkar had not. View image in fullscreen Michael Sukkar moves that Mark Dreyfus no longer be heard while speaking on antisemitism during question time on 10 February. Photograph: Lukas Coch/AAP Share Updated at 22.19 CET 45m ago 22.08 CET Marles rejects Trump's accusation Zelenskyy is a 'dictator' Richard Marles was asked about Donald Trump's escalated attacks on Volodymyr Zelenskyy, after the US president called the Ukrainian leader 'a dictator' who had 'better move fast' or he 'won't have a country left'. Trump calls Zelenskyy a dictator amid fears of irreconcilable rift Read more Asked if he thinks Zelenskyy is a dictator, Marles said 'no', but said 'I'm also not about to engage in a running commentary of President Trump's remarks.' We obviously, and I think the world obviously, welcomes any efforts to bring about peace. The war in Ukraine has seen a very significant loss of life over what's coming up to three years. Having said that, it can't be peace on any terms – and to be clear, I don't think America is saying that either. It is really important that we are empowering Ukraine in this process. And we've said from the outset, and we continue to say, that this conflict can only be resolved on Ukraine's terms. The aggressor here is Russia. They were the ones who illegally crossed into Ukraine, who invaded Ukraine. That is why we are supporting Ukraine. We see that what's at stake here. The host notes that Trump is not 'saying any of that', and Marles repeats that he won't give 'a running commentary on what President Trump is saying.' Share Updated at 22.20 CET
