Latest news with #Yancoal
Sydney Morning Herald
28-05-2025
- Business
- Sydney Morning Herald
ASX wipes out gains after inflation data; Woodside jumps on LNG approval
Welcome to your five-minute recap of the trading day. The numbers The Australian sharemarket had a strong morning after a rally on Wall Street overnight, but wiped out its gains after the latest inflation figures came in higher than expected, denting investors' exuberance. The S&P/ASX 200 finished down 10 points, or 0.1 per cent, at 8396.90, having climbed as much as 0.5 per cent early in the session. While six of its 11 sectors advanced, the market was held back by falls in financials and mining stocks, which together make up more than half of the ASX. However, energy stocks rallied after the Albanese government gave preliminary approval for the extension of Woodside's giant North West Shelf project in Western Australia. The Australian dollar retreated and was fetching US64.36¢ when ASX trading finished. The lifters Loading Oil and gas giant Woodside surged 3.2 per cent after the government gave its preliminary approval for the company to keep its controversial liquefied natural gas project running out to 2070. Woodside applied for the extension at a state level six years ago, before securing Western Australian state government approval in December. It had been waiting on the federal government's sign-off. Other fossil fuel stocks also advanced, with rival oil business Santos up 1.9 per cent, while coal miners Yancoal and Whitehaven Coal rose 1.5 per cent and 2.7 per cent, respectively.
News.com.au
22-04-2025
- Business
- News.com.au
Lunch Wrap: Stock markets on edge again after Trump's latest serve at Powell
Trump sprays Powell again, sinking Wall Street Gold and Aussie dollar pop Yancoal warns of rocky road, Perenti pulls out of Botswana The ASX copped a bit of a knock early on, but by lunch it was pretty much treading water. Overnight, Wall Street had a rough session thanks to a fresh spray from US President Donald Trump, who took aim once again at Jerome Powell, the head of the Fed Reserve. Trump is apparently looking into whether he can legally fire Powell altogether. He called Powell a 'loser' and demanded immediate interest rate cuts, claiming inflation was basically gone. ″'Preemptive Cuts' in Interest Rates are being called for by many,' Trump growled on Truth Social. "There can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW." That sent a chill through the markets, immediately dragging down US stocks, bonds and the greenback. The S&P 500 dropped 2.36%, the tech-heavy Nasdaq shed 2.55%, and Tesla got belted 6% ahead of its earnings release this week. 'If you actually did try to remove the Federal Reserve chairman, I think you would see a severe reaction in markets with yields higher, dollars lower and equities selling off,' said Krishna Guha at Evercore ISI. Trump's latest outburst came just after the Fed boss warned last week a trade war could push prices higher, which is why he's keeping rates steady for now. It also came after Beijing warned that China will hit back at any countries that sign trade deals with Trump. Meanwhile, gold jumped past US$3400 an ounce to a new record, smashing through its previous (real) high from the inflation-rattled 1980s. Elsewhere, the US dollar copped a belting, sinking to its lowest point since 2023. That gave the Aussie dollar a lift, pushing it above 64 US cents this morning. Iron ore has also clawed back some ground, up by 2%, helped along by the softer US dollar and stronger than expected Chinese steel output. Back home, there's a bit to get stuck into on the ASX this morning. Coal giant Yancoal Australia (ASX:YAL) has flagged a rocky road ahead after reporting a 19% drop in quarterly sales. Shares fell 1.25%. 'The coal sector is facing a weak pricing environment as a result of strong supply, and subdued short-term demand in both thermal and metallurgical coal markets,' said Yancoal's acting CEO, Ning Yue. Deep Yellow (ASX:DYL) has hit pause on its Namibian uranium mine, saying current prices aren't enough to justify charging ahead with full development, though it will keep pushing forward on early infrastructure build. Bellevue Gold (ASX:BGL) said it has closed out $110.8 million worth of near-term gold hedge contracts after a cap raise last week. That means almost all of its production through to the end of 2025 will now be sold at spot prices, which should give it a nice boost in free cash and fatten up the balance sheet, the company said. Shares were still down 1%. And mining services company Perenti Global (ASX:PRN) is pulling the plug on its six-year copper gig in Botswana, saying the numbers just aren't adding up. The company will wrap things up at the Khoemacau copper mine, with its underground arm Barminco set to flog off the gear to the client, MMG, when the contract ends on 30 June. PRN's shares also slipped 1%. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for April 22 : Security Description Last % Volume MktCap JLL Jindalee Lithium Ltd 0.350 37% 663,729 $18,765,921 CUL Cullen Resources 0.004 33% 2,975,789 $2,080,206 OLI Oliver'S Real Food 0.004 33% 52,134 $1,622,196 SRN Surefire Rescs NL 0.004 33% 157,125 $7,248,923 TAS Tasman Resources Ltd 0.004 33% 124,473 $2,415,749 SMM Somerset Minerals 0.012 33% 717,386 $2,357,032 AUR Auris Minerals Ltd 0.005 25% 199,210 $1,906,504 CAV Carnavale Resources 0.005 25% 10,000 $16,360,874 YAR Yari Minerals Ltd 0.005 25% 416,946 $1,929,431 SHP South Harz Potash 0.006 20% 500,000 $5,412,894 SKK Stakk Limited 0.006 20% 165,008 $10,375,398 TMS Tennant Minerals Ltd 0.006 20% 234,748 $4,779,452 ADG Adelong Gold Limited 0.007 17% 28,820,802 $8,384,917 PSL Paterson Resources 0.007 17% 280,000 $2,736,227 WIN WIN Metals 0.026 16% 3,994,995 $12,101,278 ATH Alterity Therap Ltd 0.008 14% 3,163,507 $63,891,595 EE1 Earths Energy Ltd 0.008 14% 200,000 $3,709,750 FUL Fulcrum Lithium 0.080 14% 22,550 $5,285,000 AVM Advance Metals Ltd 0.054 13% 17,440,551 $10,273,672 CXU Cauldron Energy Ltd 0.009 13% 30,000 $11,691,237 GBZ GBM Rsources Ltd 0.009 13% 258,850 $9,368,560 H2G Greenhy2 Limited 0.009 13% 161,194 $4,785,473 SHN Sunshine Metals Ltd 0.009 13% 4,571,540 $15,874,492 OCT Octava Minerals 0.037 12% 1,122 $2,013,307 Jindalee Lithium's (ASX:JLL) McDermitt lithium project over in the US just scored a spot on the FAST-41 list, a federal initiative that helps fast-track big-name projects through the red tape. It's one of only ten resources projects nationwide to make the cut, showing just how important it's becoming for America's energy and mineral security. Being on the Permitting Dashboard means more visibility, better coordination between government agencies, and quicker decisions to help get things moving. Somerset Minerals (ASX:SMM) has locked in $2.4 million from investors to kick off its first drill campaign at the Coppermine Project in Canada. It's planning to sink around 1500 metres of drilling into the Coronation target from early July, chasing high-grade copper and silver hits, including past rock chip samples with up to 45% copper. Permits are nearly sorted, with final ticks expected in a week or two, and the project itself still needs shareholder approval next week to go ahead. Prospech (ASX:PRS) has nearly doubled the size of its rare earths resource at the Korsnäs project in Finland, with the updated estimate now sitting at 13.5 million tonnes at just over 1% TREO. It comes off the back of fresh drilling this year plus sampling of old cores from the 50s through to the 70s. PRS said the new numbers confirmed Korsnäs as one of Europe's more exciting rare earths plays still in the early stages. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for April 22 : Code Name Price % Change Volume Market Cap AOA Ausmon Resorces 0.001 -50% 28,000 $2,622,427 TEG Triangle Energy Ltd 0.003 -40% 47,908,516 $10,446,170 SRL Sunrise 0.460 -35% 383,058 $64,061,524 1TT Thrive Tribe Tech 0.001 -33% 2,000,000 $3,047,585 BUY Bounty Oil & Gas NL 0.002 -33% 2,197,434 $4,684,416 EEL Enrg Elements Ltd 0.001 -33% 15,912,733 $4,880,668 CRR Critical Resources 0.003 -25% 164,878 $9,856,885 ERA Energy Resources 0.002 -25% 1,612,056 $810,792,482 TFL Tasfoods Ltd 0.003 -25% 5,711 $1,748,382 VEN Vintage Energy 0.003 -25% 405,934 $7,155,687 CCO The Calmer Co Int 0.004 -20% 22,000 $12,769,356 EVR Ev Resources Ltd 0.004 -20% 78,000 $9,929,183 NAE New Age Exploration 0.004 -20% 7,753,858 $13,296,995 TOU Tlou Energy Ltd 0.018 -18% 70,820 $28,568,855 VHM Vhmlimited 0.315 -17% 342,658 $82,516,982 VMM Viridismining 0.295 -17% 878,913 $30,264,823 5GG Pentanet 0.035 -17% 356,265 $18,193,210 ANX Anax Metals Ltd 0.005 -17% 100,000 $5,296,845 IFG Infocusgroup Hldltd 0.005 -17% 485,256 $1,504,188 LU7 Lithium Universe Ltd 0.005 -17% 4,233,656 $4,715,878 CCR Credit Clear 0.185 -16% 161,352 $93,422,701 SNS Sensen Networks Ltd 0.032 -16% 468,365 $30,135,424 SKY SKY Metals Ltd 0.043 -16% 86,343 $36,245,861 BRX Belararoxlimited 0.115 -15% 95,006 $21,130,518 IN CASE YOU MISSED IT Neurizon Therapeutics (ASX:NUZ) has brought 20 years' experience in accounting, finance, tax, cross-border mergers and acquisitions, procurement, share services and government and industry relations on board in the form of incoming chief financial officer Dan O'Connel. O'Connel previously served as CFO for Newcrest Mining until it was acquired by gold mining giant Newmont Corporation. Preparations for an environmental impact study are underway at the El Zorro gold project in Chile, as Tesoro Gold (ASX:TSO) moves to secure the necessary permits to begin construction and operations at the gold mine. The company estimates the permitting process will take about 24 months. A second drilling rig is poised to begin work at the Develin Creek project, where QMines (ASX:QML) will soon begin RC drilling at the Sulphide City deposit. The drilling forms part of a 10,000-metre campaign designed to expand the 4.2Mt resource base at Develin. At Stockhead, we tell it like it is. While Neurizon Therapeutics, Tesoro Gold and QMines are Stockhead advertisers, they did not sponsor this article. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The Age
22-04-2025
- Business
- The Age
Fall on Australian sharemarket follows Wall Street's sell-off
The Australian sharemarket has fallen after US President Donald Trump's attacks on Federal Reserve chairman Jerome Powell sent Wall Street into a slide. The market, expected to open slightly higher with futures pointing to a rise of 47 points, instead was down after opening, sliding 0.65 per cent, or 50.70 points, to 7768.40. The 0.65 per cent dip in the ASX/S&P200 at 10.20am on Tuesday was a slight recovery from a 1 per cent drop earlier in the morning. The Australian dollar is trading at US64.03¢. Information technology and energy sectors were hit the hardest, both down 1.82 per cent, followed by real estate, down 1.46 per cent. All sectors were down at 10.30am. Energy company Yancoal (down 2 per cent) lost ground, Woodside fell 1.54 per cent and Ampol dropped 1.2 per cent. The brunt of the morning's drop was felt by the embattled IT firm WiseTech, which lost 2.15 per cent, and TechnologyOne (down 1.8 per cent). Loading The hardest-hit companies overall were Meridian Energy (down 3.5 per cent) and miner South 32 and data centre operator NEXTDC (both down almost 2.8 per cent). However, other miners felt the strongest growth of the morning, with Evolution, De Grey and Northern Star Resources all up more than 1 per cent. Macquarie Group was one of the few financial institutions to have positive growth on Tuesday morning (up 0.27 per cent), after announcing a $2.8 billion sale of its US and European assets to Japanese firm Nomura.
Yahoo
30-01-2025
- General
- Yahoo
Sad discovery triggers call to reject 'unacceptable' 113-hectare plan
A plan by a large mining company to destroy 113 hectares of alleged prime koala habitat so it can expand a coal project has been branded as 'unacceptable'. Lock the Gate, a non-profit group that campaigns against the expansion of fossil fuels, has urged state authorities to block Yancoal's plan. Drone footage collected by Lock the Gate shows a small breeding colony of koalas, including a mother and joey, close to the Moolarben coal mine, near a Mudgee wildlife reserve. Koala populations across NSW are listed as endangered and authorities have warned the species will not survive in the wild for more than 25 years if current rates of habitat loss continue. Yancoal employs more than 6,000 Australians and is one of the country's largest coal exporters. While it's a public company listed on the ASX and in Hong Kong, it's majority-owned by Yankuang Energy Group, a state-controlled Chinese corporation. Responding to concerns about the impact on koalas, Yancoal told Yahoo News it disputes that the location of the koalas is on the 'disturbance site' itself. It added that any koalas found in the path of development will be relocated to nearby bushland in advance of any vegetation clearing 'to ensure any animals are safely and securely looked after'. The company noted its original plan would have resulted in the clearing of 230 hectares of woodland but this has been reduced by 51 per cent. Related: Satellite image captures worrying find in proposed Aussie national park The project would also impact 80 hectares of Regent honeyeater habitat, a bird that zoos in Victoria and NSW have invested hundreds of hours to bring back from the verge of extinction. There are no more than 300 individuals in the wild today, but numbers have dropped as low as 50. Yancoal's project is yet to receive state government approval. If it's given the green light by the planning department, the company will need to acquire federal sign-off because of its impact on several species that are nationally listed as threatened with extinction. Among the other animals that likely call the site home are broad-headed snakes, pin-tailed legless lizards, and squirrel gliders. Unlike koalas, these species are very difficult to locate, and it remains unclear what their fate will be if the project is approved. 🌳 Hunters of Australia's rare 'giant trees' warn time running out 🚨 Great Northern cancels national park campaign after backlash 🌻 Growing threat to World Heritage island identified Yancoal told Yahoo, 'Pre-clearance activities include surveys conducted by trained and experienced ecologists. All fauna identified are relocated in accordance with well-established practices, as detailed in Moolarben's approved Biodiversity Management Plan'. Lock the Gate Alliance national coordinator Carmel Flint told Yahoo the clearing of 113 hectares of woodland would have widespread impact on the region's wildlife beyond the development site, and that increased traffic on roads would be a killer. "The fact that any mining company should be seeking to clear habitat for endangered species is unacceptable, particularly a coal company whose product is further contributing to these species' decline through its contribution to fossil fuel-induced global warming,' she said. Love Australia's weird and wonderful environment? 🐊🦘😳 Get our new newsletter showcasing the week's best stories.
