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West Australian
06-08-2025
- Business
- West Australian
Iluka Resources to process Lindian Resources' African rare earths through Eneabba refinery
Iluka Resources has struck a deal to feed material from an African mine into its taxpayer-funded rare earths refinery near Jurien Bay. ASX-listed Lindian Resources is set to supply Iluka with 6000 tonnes of monazite concentrate a year from its future Kangankunde mine in Malawi. The 15-year offtake agreement will be linked to a price floor set by the Australian Government — a potential policy which was flagged by Federal Resources Minister Madeleine King on Monday. The exact details of the potential price floor are yet to be floated. The Trump Administration last month set a $US110 per kilogram minimum for rare earth elements neodymium and praseodymium in its offtake deal with MP Materials. Iluka will process the monazite concentrate through its Eneabba refinery, which has so far received $1.65 billion in taxpayer funding and can process up 65,000 tonnes of feedstock a year once built. Eneabba is set to be constructed and commissioned in 2027, while Kangankunde is scheduled to be operational next year. Iluka is loaning Perth-based Lindian $US20 million ($31m) to help fund Kangankunde's build. Iluka has its own stockpiles to feed Eneabba, as well as offtake lined up with Northern Minerals for the coveted 'heavy' subset of rare earth elements from its Brownes Range project near Halls Creek. 'Against a backdrop of heightened emphasis on diversifying the supply of rare earths globally, this is an example of Iluka catalysing a new mine into production as its Australian refining customer,' Iluka managing director Tom O'Leary said. 'Construction of the refinery is progressing well, with concrete works advancing and equipment now arriving on site. 'In parallel, we are in active discussions with several potential feedstock suppliers. 'The Kangankunde deposit has the potential to support a large, low-cost and simple mining operation. I am delighted that our discussions have culminated in a binding agreement, including the potential to further expand feedstock supply in the future.' Lindian executive chairman Rob Martin said the Iluka deal was a defining moment for his company and established it as a long-term and significant participant in the global rare earths supply chain. Shares in Lindian surged more than 35 per cent in early trade on Wednesday. Meanwhile, shares in Arafura Rare Earths sunk 5 per cent, with its investors seemingly hoping Iluka's latest offtake deal would have been for feedstock from the Nolans project in the Northern Territory. Lindian, which has a market capitalisation of about $160m, has faced security issues at its Malawian project. In April, two Chinese nationals were charged with criminal trespass after being detained at Kangankunde.
CNBC
10-07-2025
- Business
- CNBC
North Carolina is America's Top State for Business in 2025, led by a strong workforce and economy
With a solid economy, a world-class workforce, and a wealth of corporate hospitality, North Carolina is America's Top State for Business in 2025. The Tar Heel State is on a roll. It captured top honors in the annual CNBC rankings in 2022 and 2023, and it was runner-up in 2021 and 2024 — missing the top spot last year by just three points to Virginia, which slips this year to its lowest position among states since 2018. North Carolina is not only winning the CNBC rankings, it's also attracting a steady stream of new business. "North Carolina offers the ideal combination of talent, infrastructure, and forward-thinking leadership to support our mission to reshape aviation," said Tom O'Leary, CEO and co-founder of JetZero, an aviation startup manufacturing fuel-efficient airliners, which announced June 12 that it will build its first factory, with 14,500 jobs, in Greensboro. Also in June, Amazon announced it would invest $10 billion to build new data centers in North Carolina, on top of the $12 billion the company says it has invested in the state since 2010. "This latest expansion is a testament to the state's thriving business ecosystem and talented workforce," the company said in a statement June 4. CNBC's data backs up those conclusions. North Carolina finishes No. 3 in the all-important Economy category of this year's study, behind only Florida and Texas. The state's gross domestic product grew by a healthy 3.7% last year, the fifth-strongest in the country. The state added more than 60,000 jobs last year. Those jobs add to a well-rounded workforce — America's fourth-best, according to the CNBC study. According to Census data, North Carolina finishes third — behind Florida and Maine — in net in-migration of college-educated workers on a percentage basis. North Carolina finishes in the top tier both for science, technology, engineering and math, or STEM, employees, and for its pipeline of vocational and career-educated workers. While no state is more politically divided than deep purple North Carolina, both parties seem to agree on the importance of keeping business happy. "In recent years, we've recruited businesses that have created tens of thousands of jobs across the state," Gov. Josh Stein, a Democrat in his first year in office, said in his state of the state address in March. "But we cannot rest on our laurels. Other states want what we have here — it's a competitive world." "My priority, and I think the priority of Senate Republicans, will be to continue those policies that have provided that kind of environment that has made North Carolina attractive to private sector businesses," state Senate President Phil Berger told The Carolina Journal in March. "Those sorts of things don't happen by accident. That kind of growth doesn't happen just by happenstance." North Carolina finished fourth in the Business Friendliness category of the CNBC study. Tort liability costs are the third-lowest in the country, according to the U.S. Chamber of Commerce Institute for Legal Reform. The state is in the top 10 for "economic freedom," according to the Fraser Institute, a Vancouver-based libertarian think tank, which gave the state high marks for its approaches toward government spending and labor regulation. But while North Carolina is almost unfailingly friendly to business, it is not terribly friendly to workers. The state comes in at No. 29 for Quality of Life — its worst category in the CNBC study this year. Oxfam International, a left-leaning anti-poverty organization, ranks North Carolina dead last in its annual report on The Best and Worst States to Work in the U.S., citing an almost complete lack of worker protections. Also, North Carolina is one of only five states with no law protecting nondisabled people from discrimination in public accommodations, according to the National Conference of State Legislatures. North Carolina's biggest headwinds, however, come from areas that are much harder for a state to control. The state is still in the early stages of recovery from Hurricane Helene, which killed 100 people and destroyed thousands of homes in North Carolina alone, causing nearly $60 billion in damages in the state. The storm, and subsequent flooding, struck in September, which means that much of the economic impact may not be reflected in this year's Top States data. The state has appropriated upward of $2 billion in recovery funds, which could accelerate if the Trump administration follows through on plans to phase out FEMA. North Carolina is also among the top recipients of research grants from the National Institutes of Health and the National Science Foundation, which are now on the chopping block. Other Trump policies could also hurt the state. Sen. Thom Tillis, who announced June 29 that he would not seek reelection after opposing the president's signature tax-and-spending bill, warned that Medicaid cuts could cost the state as much as $32 billion and cause more than 600,000 North Carolinians to lose their health insurance. And that's not all. More than 20% of North Carolina's GDP in 2024 came from international trade in goods, according to data supplied for the CNBC study by Trade Partnership Worldwide. That leaves the state vulnerable to the impact of higher tariffs. But at least North Carolina steers into those headwinds from a strong position. The CNBC study measures all 50 states across 10 categories of competitiveness, for a total of 2,500 possible points. North Carolina racks up 1,614 points to capture this year's crown. Our methodology assigns a weight to each category based on how frequently states cite it as a selling point. The idea is to measure the states based on the criteria they use to pitch themselves to businesses. Here are this year's categories and point totals: Texas is the runner-up in this year's rankings, with the top rating in the Workforce category. The Lone Star State is unparalleled when it comes to drawing in workers, according to a worker attraction index developed for CNBC by labor market data firm Lightcast. But Texas has serious Quality of Life issues, finishing No. 49 in the category. The state has the largest percentage of people without health insurance, crime is on the high side, and state laws offer few protections against discrimination. Florida climbs to third place this year, with the top rating in Economy for the third consecutive year. But the state's strong growth and its lingering insurance crisis are forcing up costs. The Sunshine State is now third-highest in Cost of Living. Virginia, which has run neck-and-neck with North Carolina since 2021 for the top spot in CNBC's rankings, slips to fourth place this year. The Old Dominion is still a business powerhouse, tops for Education, and second best for Infrastructure. But the state's interdependence on the federal government — an economic boost in most years — leaves its economy on less solid footing as federal budget cuts loom. Ohio joins the top five states for the first time with America's top ranking in Infrastructure. More than 142 million people live within a day's drive of Ohio, more than any other state. The Buckeye State also offers the second-lowest cost of doing business, after Oklahoma. This year's Most Improved State is Massachusetts, which climbs 18 spots to No. 20 overall, bouncing back from the biggest decline last year. The Bay State still has serious issues. It's the second-most-expensive state to do business in. And cuts in federal research dollars — not just to Harvard University, but also to other institutions in the state — seriously threaten the state's heritage of innovation. But overall, Massachusetts is less dependent on Washington than most states. The Center on Budget and Policy Priorities estimates that federal funds comprise just 30% of state spending in Massachusetts. That is the 14th-lowest percentage among states, helping the state in the crucial Economy category. We rank all 50 states, so if there are Top States, there must also be Bottom States. Tied at No. 46 are Louisiana and Rhode Island. The federal government funds half of state spending in Louisiana — more than any other state — leaving the state seriously vulnerable to the Trump budget cuts. The state's roads and bridges are among the worst in the country. Rhode Island is the fifth-most-expensive state to do business in, and it ranks No. 46 for Business Friendliness. Montana finishes at No. 48 overall, with America's worst ranking in the Workforce category. Montana workers rank No. 48 for productivity in terms of economic output per job, and state worker training programs are the least effective in terms of recipients finding employment within six months. Hawaii finishes No. 49, with America's highest cost of doing business and the second-highest cost of living. In last place is Alaska. Try as it might, The Last Frontier cannot wean itself from its dependence on oil, and with the price of North Slope crude down about 12% from a year ago, Alaska ranks last in the Economy category. Join the conversation. Didn't see your state mentioned? You can see where it ranked overall, and in all 10 categories of competitiveness, in the full rankings of the 2025 America's Top States for Business.
Extra.ie
21-06-2025
- Business
- Extra.ie
Dublin Airport hits out at council's enforcement notice
Dublin Airport's operator has been hit with a planning enforcement notice for breaching the highly contested passenger cap, describing it as 'a sorry indictment of the mess that is the Irish planning system'. Describing the airport as the most vital piece of transport infrastructure in Ireland, a DAA spokesman said: 'The system is quite simply broken and needs to be overhauled.' The airport is limited to handling a maximum of 32 million passengers a year under a condition of the planning permission granted in 2007 for Terminal 2. Dublin Airport. Pic: Getty Images However, the DAA and many airlines have challenged that limit, saying it is limiting the country's economic growth and could result in higher fares for passengers. Earlier this month, Dublin Airport said it was expecting more than ten million passengers to pass through during the peak months. A High Court-imposed pause on the cap, won by the airlines, means more than 36 million people could use the airport this year. Last year, the airport handled 33.3million passengers. Dublin Airport. Pic: Getty Images Fingal County Council confirmed yesterday it had issued a planning enforcement notice to DAA for breaching the cap. The council is reported to have received complaints from 60 individuals about the alleged planning breach. In a statement, the council said its enforcement notice included a two-year period to comply with planning conditions imposed by An Bord Pleanála over passenger capacity at Dublin Airport. Pic: Mark Gusev/Shutterstock A council spokesman said: 'The two-year period provides an opportunity for DAA to progress their planning applications to increase passenger capacity at Dublin Airport or take such other steps as they consider appropriate to achieve compliance.' Mayor of Fingal Tom O'Leary, a Fine Gael councillor, said the county council had to follow the legal process. He continued: 'This makes it even more urgent for the Government to assist in any way that they can to try and sort out the capacity issue at Dublin Airport. They need to do whatever they can to ensure that the airport can grow in an orderly manner and that the residents around it are looked after.' However, the DAA said that until changes were made to the cap, Ireland's national airport was 'hamstrung' and could not get on with its mandate to grow Ireland's connectivity. 'The airport needs to be reclassified as national strategic infrastructure, with decisions made by a national planning body and not a local authority,' a spokesman said The High Court pause on the cap is likely to continue for a year while certain matters related to aircraft take-off and landing slot allocations are examined by the European Court of Justice. The Government plans to remove the cap through legislation, starting in autumn. Ryanair has called for urgent action from the Government, stating that local authorities should not oversee national transport infrastructure. A Department of Transport spokesman said it was aware of the enforcement notice. They continued: 'The minister has recently reiterated the importance of DAA continuing to engage proactively with the planning authority and the Aircraft Noise Competent Authority to facilitate progress on the two planning applications DAA has lodged.'
Axios
12-06-2025
- Business
- Axios
Startup plane maker says it will create 14,500 jobs in North Carolina
Aircraft maker JetZero, a startup trying to build a more sustainable commercial airplane, is pledging to create 14,500 jobs and manufacture its planes in North Carolina. Why it matters: It is the largest economic development win in the state's history, if the jobs come to fruition as planned near Greensboro's Piedmont Triad International Airport (PTI). Driving the news: On Thursday morning in Raleigh, the state's Economic Investment Committee approved an incentives package for JetZero worth around $1 billion. The Greensboro area was competing against 25 other sites across the country, according to the state's Commerce Department. North Carolina has been working to recruit the company for more than a year, including a final phone call between N.C. Gov. Josh Stein and JetZero CEO Tom O'Leary in the past few weeks. By the numbers: The jobs, which are expected to be added between 2027 and 2037, would pay a minimum average wage of $89,000. JetZero plans to invest $4.7 billion into the site, in return for state and local incentives. Guildford County and Greensboro will put $784 million in incentives toward the project, according to the Commerce Department. The state's contribution, under a transformative-level Job Development Investment Grant, would be $1 billion over 37 years, and it is anticipated the state's General Assembly would appropriate another $450 million toward site preparation and road improvements. JetZero would only earn the incentives if the company maintains 10,000 workers and invests $3.8 billion locally. PTI would maintain ownership of the land that the state is doing site preparation work on, according to N.C. Commerce Secretary Lee Lilley. Zoom in: California-based JetZero has designed a blended-wing-body airframe that it expects to be up to 50% more fuel efficient than today's tube-and-wing aircraft, a huge advantage for airlines seeking to decarbonize their operations, Axios previously reported. The company has attracted investments from several big players in the industry, including Delta and United Airlines, and has said it hopes to begin flying in 2027. The U.S. Air Force is also investing $235 million into JetZero, and Lee said the state had extensive conversations with the Air Force while vetting the company. State of play: Greensboro's PTI airport has become a hotspot for aviation manufacturers. It's already home to HondaJet and another startup, Boom Supersonic, is building a factory there. The jobs in Greensboro would include manufacturing roles to research and development positions, according to Lilley. The Greensboro factory would focus on the body of the planes, while Pratt & Whitney would manufacture the engines. Under the agreement with the state, JetZero would begin hiring in 2027 and reach 14,500 jobs by 2037. Between the lines: Some of North Carolina's largest economic development wins in recent years have come from startups seeking to disrupt established industries. That includes Boom, a company trying to resurrect supersonic travel that makes its planes in Greensboro, and VinFast, a Vietnamese electric vehicle startup whose plans to hire 7,500 in Chatham County have been delayed several times already. VinFast was the previous largest economic development announcement in the state's history.
Yahoo
09-05-2025
- Business
- Yahoo
A look at the futuristic jet dubbed ‘a living room in the sky'
(NewsNation) — Aircraft developer JetZero is designing a plane that is being called 'a living room in the sky' and the future of commercial aircraft. JetZero's Z4 plane model has a blended-wing body design with its engines on top and is up to 10 feet wider than the Airbus 380 model. The Z4's design will be able to seat up to 250 passengers. The Z4's design will allow for roomier comfort for passengers on board, with a mockup showing various seating bays and wider aisles throughout the cabin. It will be 50% more fuel-efficient than other plane models. Why are students short-circuiting their laptops? It will also not require any airport infrastructure updates because the design can work with current jet bridges and runways. JetZero CEO Tom O'Leary says for passengers, the future means a better flying experience. 'There's a lot about the current experience that is not quite so lovable,' O'Leary said. 'We built this mockup so that people could get a feel for what a blended-wing body plane is going to feel like, more spacious, more of a living room than a hallway.' The Z4 is among other designs commissioned by NASA in a push towards a new generation of low-emission commercial aircraft, including a concept craft with 10 propellers and another with an elongated wing design, which stretches around to connect to the plane's tail section. Long-haul carrier Emirates reports record profit of $5.2 billion The Z4 has received a $235 million grant from the U.S. Air Force and attention from United Airlines, which has recently invested in the company and committed to purchasing up to 200 of the planes, contingent on a demonstrator model in 2027 that meets the requirements of a plane. 'This plane fits into the same exact gates as the wide body that we fly today. It can really put more people through the same gate infrastructure,' O'Leary said. O'Leary also said the planes will be much quieter for communities surrounded by airports because the engines being on top of the plane will radiate noise upward. Delta and Alaska Airlines have also invested in JetZero. The company hopes to have actual planes in the air commercially by 2030. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
