logo
Glencore, Rio Tinto and Trafigura seek aid for Australian smelters

Glencore, Rio Tinto and Trafigura seek aid for Australian smelters

Nikkei Asia07-07-2025
The Mount Isa Mines complex forms the hub of Glencore's copper and zinc operations in Queensland, Australia. © AAP
SHAUN TURTON
SYDNEY -- Resource giants Glencore, Rio Tinto and Trafigura-owned Nyrstar are seeking potentially billions in government aid for Australian metal smelting and processing operations under threat from rising power costs and Chinese competition.
Glencore's copper smelter and refinery in Queensland, Rio Tinto's jointly owned Tomago aluminum smelter in New South Wales, and Nyrstar's zinc smelter in Tasmania and multi-metal plant in South Australia face significant challenges, according to the companies, who are negotiating with state and federal authorities.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

China urges global consensus on balancing AI development, security
China urges global consensus on balancing AI development, security

Japan Today

time3 hours ago

  • Japan Today

China urges global consensus on balancing AI development, security

Chinese Premier Li Qiang is seen on a screen at the opening ceremony of the World Artificial Intelligence Conference in Shanghai on July 26, 2025 By Rebecca Bailey with Luna Lin in Beijing China's Premier Li Qiang warned Saturday that artificial intelligence development must be weighed against the security risks, saying global consensus was urgently needed even as the tech race between Beijing and Washington shows no sign of abating. His remarks came just days after US President Donald Trump unveiled an aggressive low-regulation strategy aimed at cementing US dominance in the fast-moving field, promising to "remove red tape and onerous regulation" that could hinder private sector AI development. Opening the World AI Conference (WAIC) in Shanghai on Saturday, Li emphasised the need for governance and open-source development, announcing the establishment of a Chinese-led body for international AI cooperation. "The risks and challenges brought by artificial intelligence have drawn widespread attention... How to find a balance between development and security urgently requires further consensus from the entire society," the premier said. Li said China would "actively promote" the development of open-source AI, adding Beijing was willing to share advances with other countries, particularly developing ones. "If we engage in technological monopolies, controls and blockage, artificial intelligence will become the preserve of a few countries and a few enterprises," he said. "Only by adhering to openness, sharing and fairness in access to intelligence can more countries and groups benefit from (AI)." The premier highlighted "insufficient supply of computing power and chips" as a bottleneck. Washington has expanded its efforts in recent years to curb exports of state-of-the-art chips to China, concerned that these can be used to advance Beijing's military systems and erode US tech dominance. For its part, China has made AI a pillar of its plans for technological self-reliance, with the government pledging a raft of measures to boost the sector. In January, Chinese startup DeepSeek unveiled an AI model that performed as well as top US systems despite using less powerful chips. 'Pet tiger cub' - At a time when AI is being integrated across virtually all industries, its uses have raised major ethical questions, from the spread of misinformation to its impact on employment, or the potential loss of technological control. In a speech at WAIC on Saturday, Nobel Prize-winning physicist Geoffrey Hinton compared the situation to keeping "a very cute tiger cub as a pet". "To survive", he said, you need to ensure you can train it not to kill you when it grows up. In a video message played at the WAIC opening ceremony, UN Secretary-General Antonio Guterres said AI governance would be "a defining test of international cooperation". The ceremony also saw the French president's AI envoy, Anne Bouverot, underscore the "an urgent need" for global action. At an AI summit in Paris in February, 58 countries including China, France and India -- as well as the European Union and African Union Commission -- called for enhanced coordination on AI governance. But the United States warned against "excessive regulation", and alongside the United Kingdom, refused to sign the summit's appeal for an "open", "inclusive" and "ethical" AI. © 2025 AFP

China's Premier Li proposes global AI cooperation organization
China's Premier Li proposes global AI cooperation organization

Nikkei Asia

time5 hours ago

  • Nikkei Asia

China's Premier Li proposes global AI cooperation organization

Chinese Premier Li Qiang speaks during the opening ceremony of World Artificial Intelligence Conference in Shanghai on July 26. © Reuters SHANGHAI (Reuters) -- Chinese Premier Li Qiang on Saturday proposed establishing an organization to foster global cooperation on artificial intelligence, calling on countries to coordinate on the development and security of the fast-evolving technology. Speaking at the opening of the annual World Artificial Intelligence Conference (WAIC) in Shanghai, Li called AI a new engine for growth, but adding that governance is fragmented and emphasizing the need for more coordination between countries to form a globally recognized framework for AI.

Economists Doubt Trump Outlook That US Will Sell ‘So Much' Beef to Australia
Economists Doubt Trump Outlook That US Will Sell ‘So Much' Beef to Australia

Yomiuri Shimbun

time7 hours ago

  • Yomiuri Shimbun

Economists Doubt Trump Outlook That US Will Sell ‘So Much' Beef to Australia

WASHINGTON/CANBERRA/CHICAGO, July 25 (Reuters) – President Donald Trump said the sell 'so much' beef to Australia after Canberra relaxed import restrictions on Thursday, but economists and traders said high prices and tight supplies make major American exports unlikely. Australia said it would loosen biosecurity rules for U.S. beef. The move will not significantly increase U.S. shipments, though, because Australia is a major beef producer and exporter whose prices are much lower, analysts said. U.S. companies export small quantities of beef to Australian buyers. They import much more in the form of lean beef used to make hamburgers, particularly as U.S. production has declined because of tight cattle supplies. U.S. beef prices set records this year after ranchers slashed their herds due to drought that burned up pasturelands used for grazing. The total herd size fell to 94.2 million head as of July 1, a record low for that date, according to U.S. Department of Agriculture data on Friday. A ban on cattle imports from Mexico because of New World screwworm, a devastating livestock pest, and steep tariffs on Brazilian beef that are set to take effect on Aug. 1 could further tighten meat supplies, and require additional imports of Australian beef. 'We can't get enough beef in the U.S. right now, so we're bringing it in from Australia and Brazil,' said Dan Norcini, an independent U.S. livestock trader. 'We're not going to be selling anything significant to anyone.' Last year, Australia shipped almost 400,000 metric tons of beef worth $2.9 billion to the United States, with just 269 tons of U.S. product moving the other way. 'They have more cattle than people,' said David Anderson, an agricultural economist at Texas A&M University. 'That's why they export so much.' DIFFERENT TASTE U.S. and Australian beef also taste different. Many Australians like the grass-fed beef raised there, not marbled beef from U.S.-raised cattle that are generally fed with grain, said Jerry Klassen, chief analyst for Resilient Capital in Winnipeg. He predicted the United States will not export substantial amounts of beef to Australia in the next five years. 'We just aren't in a position to export much beef to anyone, and the reality is Australia doesn't really have much need for U.S. beef,' said Karl Setzer, partner at Consus Ag. The barriers that remain to exporting significant volumes of U.S. beef to Australia appeared to be lost on Trump this week. 'We are going to sell so much to Australia because this is undeniable and irrefutable Proof that U.S. Beef is the Safest and Best in the entire World,' Trump said in a post on Truth Social. 'The other Countries that refuse our magnificent Beef are ON NOTICE.' Trump has attempted to renegotiate trade deals with numerous countries he says have taken advantage of the United States, a characterisation many economists dispute. 'For decades, Australia imposed unjustified barriers on U.S. beef,' U.S. Trade Representative Jamieson Greer said in a statement, calling Australia's decision a 'major milestone in lowering trade barriers and securing market access for U.S. farmers and ranchers.' Australian officials say the relaxation of restrictions was not part of any trade negotiations but the result of a years-long assessment of U.S. biosecurity practices. Canberra has restricted U.S. beef imports since 2003 due to concerns about bovine spongiform encephalopathy (BSE), or mad cow disease. Since 2019, it has allowed in meat from animals born, raised and slaughtered in the U.S. but few suppliers were able to prove that their cattle had not been in Canada and Mexico. The U.S. sources some of its feeder cattle from the two neighboring countries. On Wednesday, Australia's agriculture ministry said U.S. cattle traceability and control systems had improved enough that Australia could accept beef from cattle born in Canada or Mexico and slaughtered in the United States. The decision has caused some concern in Australia, where biosecurity is seen as essential to prevent diseases and pests from ravaging the farm sector. 'We need to know if (the government) is sacrificing our high biosecurity standards just so Prime Minister Anthony Albanese can obtain a meeting with U.S. President Donald Trump,' shadow agriculture minister David Littleproud said in a statement. Australia faces a 10% across-the-board U.S. tariff, as well 50% tariffs on steel and aluminum. Trump has also threatened to impose a 200% tariff on pharmaceuticals. Asked whether the change would help achieve a trade deal, Australian Trade Minister Don Farrell said: 'I'm not too sure.' 'We haven't done this in order to entice the Americans into a trade agreement,' he said. 'We think that they should do that anyway.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store