Latest news with #Perth-based
West Australian
5 hours ago
- Business
- West Australian
Paladin Energy shares lose 11pc as Langer Heinrich guidance misses expectations
Shares in the most shorted stock on the Australian Securities Exchange have plunged after output targets at its African uranium mine disappointed again. Perth-based Paladin Energy lost 11.3 per cent of its value on Wednesday despite posting a 33 per cent rise in quarterly production from its Langer Heinrich mine in Namibia. Paladin cranked out 993,843 pounds of triuranium octoxide — a uranium compound — compared with 745,484lb during the prior quarter. The average realised price of Langer Heinrich's radioactive product dropped $US69.9/lb to $US55.6/lb, while production costs declined from $US40.60/lb to $US37.50/lb. Output forecasts for the current financial year caused investors to flee. Production for the financial year is expected to sit between 4 million and 4.4 million pounds of U3O8 with costs between $US44/lb and $US48/lb. Costs were higher and output lower than what analysts had pencilled in. Paladin's management pinned the result on higher-than-expected mining and blasting expenses plus grade variability in its stockpiled ore. The poor result was good news for Paladin's legion of short sellers, who effectively profit when the company's share price tanks. The portion of Paladin's stock controlled by short sellers is 16.8 per cent, according to Australian Securities and Investments Commission data. It became the most shorted stock on the ASX last month, taking the unwanted mantle from fellow uranium miner Boss Energy. Paladin's shares are down 8.1 per cent so far this year and 39.8 per cent compared to 12 months ago. Paladin is currently facing two class action lawsuits related to production guidance provided last year. It is alleged the company contravened continuous disclosure rules and had engaged in misleading or deceptive conduct. Paladin told the ASX in June last year Langer Heinrich would pump out 4mlb to 4.5mlb of its uranium compound for the 2025 financial year. Quarterly production was well below expectations in October, sparking a 15 per cent share price collapse.
Sydney Morning Herald
7 hours ago
- Business
- Sydney Morning Herald
Australian energy giant ditches US plant as Trump attacks green power
Woodside, the largest Australian oil and gas company, has abandoned plans to build a lower-carbon fuels plant in the United States as energy users and producers reel from Donald Trump's decision to slash tax breaks for green technologies. The Perth-based energy giant told investors on Wednesday it would take a $US140 million ($214 million) profit hit after deciding to walk away from the H2OK liquid hydrogen project it had been planning in Oklahoma, blaming the rising cost of making cleaner hydrogen and weaker-than-expected customer demand. 'We have made the decision to exit the H2OK project, demonstrating our disciplined approach to portfolio management,' Woodside chief executive Meg O'Neill said on Wednesday. Woodside, a producer of oil and liquefied natural gas (LNG), is pursuing the development of lower-carbon hydrogen as part of its climate transition strategy. Because hydrogen emits only water vapour when burned, it is considered by many to be a promising climate-friendly energy source that could eventually substitute fossil fuels and help clean up heavy-polluting industries, as long as it is made using low- or zero-carbon energy sources. Woodside's H2OK would have used an electrolyser, powered by the electricity grid, to split water into hydrogen and oxygen. However, Woodside announced it was pausing the H2OK project in January, shortly after Donald Trump's return to the White House. It also scrapped a separate plan to build a concentrated solar thermal energy facility in California through a partnership with Heliogen, a company backed by billionaire Bill Gates. While not directly attributing those decisions to Trump's energy agenda, Woodside at the time said it needed to consider the implications of the administration's pledge to dismantle support for US clean energy investments, including halting the disbursement of funds from the $567 billion Inflation Reduction Act, which had been offering generous tax breaks for renewable developers. This month, Trump secured the passage of a giant tax and domestic policy bill through Congress, which will make it cheaper and easier for companies to drill and produce fossil fuels, while cutting funding for electric cars and wind and solar farms. Woodside remains committed to one clean energy investment in the US, the Beaumont lower-carbon ammonia project in Texas. The project was 95 per cent completed as of June 30, the company said.
The Age
7 hours ago
- Business
- The Age
Australian energy giant ditches US plant as Trump attacks green power
Woodside, the largest Australian oil and gas company, has abandoned plans to build a lower-carbon fuels plant in the United States as energy users and producers reel from Donald Trump's decision to slash tax breaks for green technologies. The Perth-based energy giant told investors on Wednesday it would take a $US140 million ($214 million) profit hit after deciding to walk away from the H2OK liquid hydrogen project it had been planning in Oklahoma, blaming the rising cost of making cleaner hydrogen and weaker-than-expected customer demand. 'We have made the decision to exit the H2OK project, demonstrating our disciplined approach to portfolio management,' Woodside chief executive Meg O'Neill said on Wednesday. Woodside, a producer of oil and liquefied natural gas (LNG), is pursuing the development of lower-carbon hydrogen as part of its climate transition strategy. Because hydrogen emits only water vapour when burned, it is considered by many to be a promising climate-friendly energy source that could eventually substitute fossil fuels and help clean up heavy-polluting industries, as long as it is made using low- or zero-carbon energy sources. Woodside's H2OK would have used an electrolyser, powered by the electricity grid, to split water into hydrogen and oxygen. However, Woodside announced it was pausing the H2OK project in January, shortly after Donald Trump's return to the White House. It also scrapped a separate plan to build a concentrated solar thermal energy facility in California through a partnership with Heliogen, a company backed by billionaire Bill Gates. While not directly attributing those decisions to Trump's energy agenda, Woodside at the time said it needed to consider the implications of the administration's pledge to dismantle support for US clean energy investments, including halting the disbursement of funds from the $567 billion Inflation Reduction Act, which had been offering generous tax breaks for renewable developers. This month, Trump secured the passage of a giant tax and domestic policy bill through Congress, which will make it cheaper and easier for companies to drill and produce fossil fuels, while cutting funding for electric cars and wind and solar farms. Woodside remains committed to one clean energy investment in the US, the Beaumont lower-carbon ammonia project in Texas. The project was 95 per cent completed as of June 30, the company said.
Otago Daily Times
11 hours ago
- Sport
- Otago Daily Times
Lienert-Brown latest to look to Japan
Anton Lienert-Brown has had an interrupted season due to injury, but chalked up his 86th cap for the All Blacks last weekend. Veteran All Blacks midfielder Anton Lienert-Brown will miss Super Rugby next year as part of a sabbatical to play in Japan. It is allowed for in his current contract, which is valid until the end of 2026. His new contract announced today will see him available for the All Blacks, the Chiefs in Super Rugby and Waikato in the NPC until the end of 2028. The 30-year-old chalked up his 86th cap for the All Blacks in their third test against France in Hamilton last Saturday. He will team up with Ardie Savea at the Kobe Steelers for Japan's League One competition, where his former mentor at the Chiefs, Dave Rennie, is coach and former All Blacks and Chiefs teammate Brodie Retallick is captain. Lienert-Brown and Savea will return home after their stints in Japan and be available for the All Blacks' July series. Lienert-Brown has had an interrupted season, after a month out with a leg injury followed by a few months recuperating from a broken collarbone suffered against Perth-based Western Force in April. "I'm excited to re-commit to New Zealand Rugby through to 2028. This year's been frustrating with injuries outside of my control but pulling on the black jersey again last Saturday reminded me just how special this journey really is. "Representing Waikato, the Chiefs, and my country is something I never take for granted. My decision to stay reflects my commitment - not just to the teams I play for, but to giving everything I've got to the work that lies ahead." Lienert-Brown has played 126 games through 12 Super Rugby campaigns and 22 matches for Waikato. All Blacks head coach Scott Robertson said Lienert-Brown was a player who embodied the values of the All Blacks jersey. "His experience, composure, and clarity in the midfield are hugely valuable. He's overcome injury setbacks in recent years and has shown real resilience. "We're thrilled to have him locked in through to 2028, and the experience he'll gain in Japan will only enhance his game and leadership."
Daily Record
a day ago
- General
- Daily Record
Perth fire service cuts could put lives at risk, union warns
If approved, the FBU said, it would mean the permanent removal of the third pumping appliance at Perth and 15 firefighter posts. Lives could be at risk if the number of Perth frontline firefighting appliances are cut according to the Fire Brigades Union (FBU). Their warning comes as Scottish Fire and Rescue Service (SFRS) chiefs announced a public consultation into changes at Perth Community Fire Station in the city. In 2023 the Scottish Fire and Rescue Service cut Perth appliances from three to two, with a reduction of 15 firefighters – a move which they want to make permanent. But the Fire Brigade Union (FBU) point out that firefighters who attended recent Perth blazes - the tragic fire in Scott Street in which a man lost his life and at Balhousie School now facing demolition – reported being under pressure while waiting for help from other fire stations. If the 2023 changes are approved, the FBU said, it would mean the permanent removal of the third pumping appliance at Perth and 15 firefighter posts. SFRS chiefs said Perth operational demand for the city's three wholetime appliances is lower than most fire stations with two wholetime appliances. But Perth-based FBU official Colin Brown said: 'As we have seen in recent weeks the speed and weight of response to fires and other emergencies is crucial to save life and property. 'Crews who attended the fires at Scott Street and Balhousie School have reported being stretched too thin in the early stages of these incidents whilst they awaited additional crews coming from county stations – Dundee's and Fife. 'Perth crews were also deployed to support and provided fire cover into Aviemore during the recent spate of wildfires. 'Cutting firefighter numbers and fire appliances removes resilience from the service when incidents do occur, this has the potential to put lives at risk and the FBU would encourage members of the public to fully engage in the ongoing SFRS consultation and let both SFRS and the Scottish Government know they don't want to see their fire and rescue service cut even deeper. 'The changes in Perth, if approved, would mean the permanent removal of the third pumping appliance and 15 firefighter posts.' Perth MSP Murdo Fraser criticised the move, particularly given the two devastating blazes in the city last month. He said: 'These proposed cuts to Perth Fire Station have been feared for a while and I understand the concerns that these will leave the brave firefighters who work there extremely short of much needed resources. 'The spate of recent fires we have seen in Perth underlines the need for a properly resourced fire and rescue service in our community.' SFRS head of service delivery for the east and the north of Scotland deputy assistant chief officer Andrew Girrity, said: 'Our modelling has shown that two appliances would align better with risk and demand. 'Currently, the third vehicle at Perth is a combined aerial rescue pump, and we want to change this to a dedicated high reach appliance. 'Since 2023, the dedicated high reach appliance has been temporarily crewed, and we need to find a permanent solution.' Speaking about the service delivery review Mr Girrity added: 'We have an opportunity for the first time since the national SFRS was formed in 2013 to review how we provide our emergency service across Scotland. 'I would encourage as many people as possible to take part in the public consultation process and attend the public meetings.' A drop-in public meeting will take place tomorrow, Wednesday July 23, from 3pm to 7pm at AK Bell Library in Perth.
