Latest news with #Resources
News.com.au
a day ago
- Business
- News.com.au
Closing Bell: Party on the ASX as market amps up the bass, raves to new heights
ASX surges 1.37pc, smashing through record to close at 8757 points All 11 sectors neon green, up between 2.47pc and 0.46pc Healthcare and resources stocks crank higher, leading gains DJ play it louder It was a raver of a party on the ASX today, surging 1.37% in its best performance since April. Just as we'd finished celebrating its latest record breaking close last night, the ASX smashed through that barrier by a solid 100 points, setting the new ceiling at 8757. Traders were riffing off weaker-than-expected employment data at home yesterday – strongly signalling another interest rate cut in August – and better-than-expected retail data out of the US today. Retail numbers over the pond lifted 0.6% compared to fears of just 0.1% in June, soothing fears of a major economic slowdown and lowering simmering tensions between the White House and the Fed Reserve. It all came together to set a pulsing beat for Aussie trade today, with every sector joining the party again. Healthcare (+2.47%) and materials (+2.06%) were strutting their stuff, showing the rest of the market how it's done. The ASX 200 Resources index topped the indices charts today, lifting 1.88%, but the banks, tech and gold indices were enjoying the neon lights just as much. Health and resource stocks break it down With the entire market feeling the rhythm, let's take a closer look at why some stocks killed it in trade today. Mesoblast (ASX:MSB) pumped it up, surging 34.6% on sale numbers for its stem cell product Ryoncil. It's only been on the shelves since late March, but MSB has already raked in US$13.2 million gross revenue (unaudited). Clarity Pharmaceuticals (ASX:CU6) is also kicking it, hot stepping 11.7% higher after completing recruitment for a study assessing a new imaging agent for prostate cancer. It's a disease with a huge unmet need, and a global market estimated at US$12.9 billion. Flipping to our resources track, battery metals got a kick from surging lithium and rare earth stocks on Wall Street overnight, benefiting from improving sentiment around the critical commodities (and some fresh tension with China over supply chains). While they've had no news the last couple days, Pilbara Minerals (ASX:PLS) jumped 8.5% and Brazilian Rare Earths (ASX:BRE) 10.2%. They were joined by Iluka Resources (ASX:ILU), up just about 5% and Min Res (ASX:MIN) up 4.8%. We can't mention resources without acknowledging today's dancing queen – BHP (ASX:BHP) smashed it in trade, adding more than a dollar to its share price after hitting some of its best production numbers ever. ' iron ore out of WA smashed records, with South Flank running above nameplate in its first full year. Even the coal division chipped in, lifting output 5% despite getting slapped by wet weather and moody geology at Broadmeadow,' our own Eddy Sunarto reported in today's Lunch Wrap. 'Over in copper, BHP pumped out over 2 million tonnes group-wide, a record haul in a metal that's fast becoming the lifeblood of the clean energy boom.' BHP shares closed out the day 3% higher at $40.29 each. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap IS3 I Synergy Group Ltd 0.002 100% 29425880 $1,706,300 TR2 Tali Resources Ltd 0.37 85% 2480529 $7,501,000 AS2 Askarimetalslimited 0.012 50% 43553469 $3,233,365 AUH Austchina Holdings 0.0015 50% 558600 $3,025,384 GGE Grand Gulf Energy 0.003 50% 11211 $5,640,850 VRC Volt Resources Ltd 0.005 43% 3745598 $16,396,973 DTZ Dotz Nano Ltd 0.041 37% 2134834 $17,761,929 VBS Vectus Biosystems 0.05 35% 65744 $1,971,298 ALR Altairminerals 0.004 33% 593100 $12,890,233 FAU First Au Ltd 0.004 33% 1234769 $6,228,874 HLX Helix Resources 0.002 33% 1760084 $5,046,291 SHP South Harz Potash 0.004 33% 1181196 $3,849,186 FAL Falconmetalsltd 0.665 32% 3759496 $89,385,000 BRX Belararoxlimited 0.08 31% 674443 $9,881,938 IPB IPB Petroleum Ltd 0.007 27% 1580453 $3,885,217 PIL Peppermint Inv Ltd 0.0025 25% 404020 $4,602,180 PXX Polarx Limited 0.01 25% 5175889 $19,004,008 ROG Red Sky Energy. 0.005 25% 527666 $21,688,909 CYP Cynata Therapeutics 0.185 23% 1513058 $33,893,155 CHL Camplifyholdings 0.49 23% 133350 $28,600,140 LMG Latrobe Magnesium 0.011 22% 16487031 $23,639,310 NVQ Noviqtech Limited 0.039 22% 721525 $8,049,170 ZGL Zicom Group Limited 0.14 22% 126775 $24,674,401 INF Infinity Lithium 0.017 21% 302402 $6,616,289 FRS Forrestaniaresources 0.145 21% 1666346 $37,322,691 Making news... With copper prices heating up, Askari Metals (ASX:AS2) is hitting all the right notes at the Nejo gold project in Ethiopia, unearthing 14m at 3.2% and 35m at 0.82% copper in historical drilling results. The company has at least 6 copper targets to hit with the drill bit, with one of particular interest stretching over a 600m by 30m strike. There's also more than 1170 square kilometres of project to explore in a fertile, underexplored region in the same greenstone belt as the 3.4-million-ounce Kurmuk Mine and the 1.7-million-ounce Tulu Kapi Mine. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap PAB Patrys Limited 0.001 -50% 4095800 $4,731,620 1TTDB Thrive Tribe Tech 0.011 -45% 688814 $2,031,723 AOK Australian Oil. 0.002 -33% 2400330 $3,005,349 CRB Carbine Resources 0.003 -25% 459 $4,000,652 CT1 Constellation Tech 0.0015 -25% 1956076 $2,949,467 EEL Enrg Elements Ltd 0.0015 -25% 20495001 $6,507,557 NPM Newpeak Metals 0.021 -25% 1155564 $9,018,008 BUY Bounty Oil & Gas NL 0.002 -20% 276214 $3,903,680 MEL Metgasco Ltd 0.002 -20% 120000 $4,581,467 QXR Qx Resources Limited 0.004 -20% 1157066 $6,551,644 TOU Tlou Energy Ltd 0.025 -19% 123162 $40,256,114 PLN Pioneer Lithium 0.115 -18% 17378 $6,182,636 ADG Adelong Gold Limited 0.005 -17% 16008493 $13,492,060 ADR Adherium Ltd 0.005 -17% 3640331 $9,438,997 CHM Chimeric Therapeutic 0.005 -17% 9498886 $12,091,165 TEG Triangle Energy Ltd 0.0025 -17% 1460016 $6,267,702 XPN Xpon Technologies 0.01 -17% 321808 $4,971,039 FRM Farm Pride Foods 0.29 -16% 244556 $79,622,983 ORD Ordell Minerals Ltd 0.35 -16% 427461 $17,773,483 SRI Sipa Resources Ltd 0.017 -15% 5553643 $8,327,966 AN1 Anagenics Limited 0.006 -14% 7576 $3,474,243 ECT Env Clean Tech Ltd. 0.003 -14% 200000 $14,054,024 ID8 Identitii Limited 0.006 -14% 29293 $5,446,095 OMG OMG Group Limited 0.006 -14% 201588 $5,098,064 TYX Tyranna Res Ltd 0.003 -14% 79120 $11,509,489 IN CASE YOU MISSED IT Aldoro Resources (ASX:ARN) continues to build the Kameelburg niobium and REE project's scale with TREO results up to 2.1pc. Break it Down: AnteoTech's (ASX:ADO) recent testing of its Ultranode X battery has achieved nearly 900 cycles at 80% capacity retention. Hillgrove Resources (ASX:HGO) made further operational improvements at Kanmantoo copper mine in South Australia, improving both mine development and ore processing numbers. TRADING HALTS
Canada Standard
6 days ago
- Business
- Canada Standard
Canada's proposed east-west energy corridors should prioritize clean energy
Canadian Prime Minister Mark Carney has made establishing east-west energy corridors a priority for Canada. He suggested that such corridors would include new oil and natural gas pipelines, designed to reduce dependence on the United States. Energy and Natural Resources Minister Tim Hodgson has gone even further in pushing for subsidization of carbon capture and storage projects that would effectively underwrite the long-term continuation of the fossil fuel industry at taxpayer expense. While there might be short-term political reasons for backing fossil fuels, such an approach goes against Canada's long-term interests. Prioritizing fossil fuels undermines the country's commitments to reduce emissions and takes away the investment needed for it to realize its potential to become a green energy superpower. Creating energy corridors is in the national interest, and would allow Canada to take full advantage of its abundant and diverse energy and mineral resources. The government also needs to be involved, as the corridors are interprovincial and will require substantial investment. However, the government has limited resources and so Canada must think strategically about its priorities for such corridors. Canadian taxpayers should not be subsidizing an already lucrative oil and gas industry. Instead, the federal government should prioritize funding clean energy supply solutions. Canadian governments have long faced opposition to building new pipelines. The provinces of Quebec and British Columbia and many First Nations have strongly opposed new pipeline proposals. More recently, there is some signs of softening under the duress of U.S. tariffs. Even if such shifts are lasting, it's for the private sector to step up and invest into these projects. Previous federal investments, such as the Trans Mountain pipeline (TMX), were reflections of the private market's unwillingness to invest in pipelines because they are bad investments. The 2024 Parliamentary Budget Office report estimated that selling the TMX would result in a loss. There are reasons to question the soundness of fossil fuels on a purely financial basis. A 2022 Parliamentary budget office report found that climate change reduced GDP by 0.8 per cent in 2021, or around $20 billion. This number is expected to rise to 5.8 per cent per year by 2100 (or $145 billion in 2021 dollars). By contrast, from 2017 to 2021, federal, provincial and territorial governments received an average of $12 billion annually in revenues from the the oil and gas industry. The gap between the costs and benefits is only going to increase over time. The costs cut across all aspects of life, including food security, health care, global instability and threats to coastal cities due to sea level rise. On the other hand, every dollar invested in adaptation today has an estimated return of $13-$15. Furthermore, a recent study indicates a likely glut in global natural gas markets, and the future prospects for oil are equally questionable. For example, one of Canada's target markets, Japan, has been reselling its liquefied natural gas imports to other countries, suggesting the glut of oil and gas is likely to continue as cheaper producers, including those in the Middle East and Southeast Asia, who are cheaper and closer to consumers, flood the market. Cheaper and closer oil producers are also flooding markets in anticipation of declining prices. There are important opportunity costs of investing money in fossil fuels that could otherwise be invested in the clean energy economy. When new technologies arise, there is a limited window of opportunity for global competitors to enter into an emerging industry. In light of the shift to electric vehicles, heat pumps and artificial intelligence, it's clear that energy demand is bound to increase significantly in Canada in the coming years. Canada can become a global competitor, but only if it enters the race now, while the window is open. Solar and wind prices have declined by 83 per cent and 65 per cent respectively since 2009. However, they suffer from the fundamental issue of intermittency; the sun is not always shining and the wind isn't always blowing. While battery prices are declining, they remain an expensive solution. An easier solution is at hand: Canada's hydroelectric resources. Quebec, B.C. and Manitoba have abundant hydro resources that can reduce energy costs throughout the rest of the country. Alberta and Saskatchewan have potential for significant geothermal power generation. Ontario and the Atlantic provinces could contribute wind and solar. Trading electricity through an integrated national grid increases the investment capital and reduces the need for batteries while diversifying the energy mix. But we need an east-west electricity market to make this happen. An east-west grid would reduce the need for every province to run its own power generation system. Creating a pooled market would allow provinces to trade electricity, giving consumers more choice and investors a larger market and potential return on their investment. More valuable still is the fact that electricity capacity has to be built for the few peak hours and seasons. But most of the time demand is well below full capacity, such as the middle of the night or early summer, when neither heat nor air conditioning is needed in many areas. As peak times and seasons vary across the country, Canada can reduce overall costs by trading the electricity in the lowest cost producing province at a given time to where it's needed in the other. By locating some of the new clean energy in First Nations, Canada can also move reconciliation forward. There is potential for a win-win situation whereby Canada increases renewable energy generation while creating new jobs and income for First Nations wherever feasible. The first step is for regulatory reform across the provinces to support a Canada-wide electricity market, and to provide the funding for the massive infrastructure investment required to connect provincial grids. This would be a federal investment with incredible long-term payoffs for employment, taxpayers and future generations. Following this plan could truly make Canada an energy superpower on the right side of the energy transition, create thousands of jobs and give the country a global competitive edge - all while helping to save the planet in the process.
Canada News.Net
6 days ago
- Business
- Canada News.Net
Canada's proposed east-west energy corridors should prioritize clean energy
Canadian Prime Minister Mark Carney has made establishing east-west energy corridors a priority for Canada. He suggested that such corridors would include new oil and natural gas pipelines, designed to reduce dependence on the United States. Energy and Natural Resources Minister Tim Hodgson has gone even further in pushing for subsidization of carbon capture and storage projects that would effectively underwrite the long-term continuation of the fossil fuel industry at taxpayer expense. While there might be short-term political reasons for backing fossil fuels, such an approach goes against Canada's long-term interests. Prioritizing fossil fuels undermines the country's commitments to reduce emissions and takes away the investment needed for it to realize its potential to become a green energy superpower. Creating energy corridors is in the national interest, and would allow Canada to take full advantage of its abundant and diverse energy and mineral resources. The government also needs to be involved, as the corridors are interprovincial and will require substantial investment. However, the government has limited resources and so Canada must think strategically about its priorities for such corridors. Canadian taxpayers should not be subsidizing an already lucrative oil and gas industry. Instead, the federal government should prioritize funding clean energy supply solutions. Canadian governments have long faced opposition to building new pipelines. The provinces of Quebec and British Columbia and many First Nations have strongly opposed new pipeline proposals. More recently, there is some signs of softening under the duress of U.S. tariffs. Even if such shifts are lasting, it's for the private sector to step up and invest into these projects. Previous federal investments, such as the Trans Mountain pipeline (TMX), were reflections of the private market's unwillingness to invest in pipelines because they are bad investments. The 2024 Parliamentary Budget Office report estimated that selling the TMX would result in a loss. There are reasons to question the soundness of fossil fuels on a purely financial basis. A 2022 Parliamentary budget office report found that climate change reduced GDP by 0.8 per cent in 2021, or around $20 billion. This number is expected to rise to 5.8 per cent per year by 2100 (or $145 billion in 2021 dollars). By contrast, from 2017 to 2021, federal, provincial and territorial governments received an average of $12 billion annually in revenues from the the oil and gas industry. The gap between the costs and benefits is only going to increase over time. The costs cut across all aspects of life, including food security, health care, global instability and threats to coastal cities due to sea level rise. On the other hand, every dollar invested in adaptation today has an estimated return of $13-$15. Furthermore, a recent study indicates a likely glut in global natural gas markets, and the future prospects for oil are equally questionable. For example, one of Canada's target markets, Japan, has been reselling its liquefied natural gas imports to other countries, suggesting the glut of oil and gas is likely to continue as cheaper producers, including those in the Middle East and Southeast Asia, who are cheaper and closer to consumers, flood the market. Cheaper and closer oil producers are also flooding markets in anticipation of declining prices. There are important opportunity costs of investing money in fossil fuels that could otherwise be invested in the clean energy economy. When new technologies arise, there is a limited window of opportunity for global competitors to enter into an emerging industry. In light of the shift to electric vehicles, heat pumps and artificial intelligence, it's clear that energy demand is bound to increase significantly in Canada in the coming years. Canada can become a global competitor, but only if it enters the race now, while the window is open. Solar and wind prices have declined by 83 per cent and 65 per cent respectively since 2009. However, they suffer from the fundamental issue of intermittency; the sun is not always shining and the wind isn't always blowing. While battery prices are declining, they remain an expensive solution. An easier solution is at hand: Canada's hydroelectric resources. Quebec, B.C. and Manitoba have abundant hydro resources that can reduce energy costs throughout the rest of the country. Alberta and Saskatchewan have potential for significant geothermal power generation. Ontario and the Atlantic provinces could contribute wind and solar. Trading electricity through an integrated national grid increases the investment capital and reduces the need for batteries while diversifying the energy mix. But we need an east-west electricity market to make this happen. An east-west grid would reduce the need for every province to run its own power generation system. Creating a pooled market would allow provinces to trade electricity, giving consumers more choice and investors a larger market and potential return on their investment. More valuable still is the fact that electricity capacity has to be built for the few peak hours and seasons. But most of the time demand is well below full capacity, such as the middle of the night or early summer, when neither heat nor air conditioning is needed in many areas. As peak times and seasons vary across the country, Canada can reduce overall costs by trading the electricity in the lowest cost producing province at a given time to where it's needed in the other. By locating some of the new clean energy in First Nations, Canada can also move reconciliation forward. There is potential for a win-win situation whereby Canada increases renewable energy generation while creating new jobs and income for First Nations wherever feasible. The first step is for regulatory reform across the provinces to support a Canada-wide electricity market, and to provide the funding for the massive infrastructure investment required to connect provincial grids. This would be a federal investment with incredible long-term payoffs for employment, taxpayers and future generations. Following this plan could truly make Canada an energy superpower on the right side of the energy transition, create thousands of jobs and give the country a global competitive edge - all while helping to save the planet in the process.
The Hindu
09-07-2025
- General
- The Hindu
Minister Duraimurugan inaugurates built at a cost of ₹24.82 crore dyke across Palar near Katpadi
Minister for Water Resources Duraimurugan inaugurated the ₹24.82 crore new dyke built across the Palar river at Arumparuthi village near Katpadi in Vellore on Wednesday, ending a long-standing demand of farmers in the region. Officials of the Water Resources Department (WRD), which executed the work, said that the new dyke at Arumparuthi is among the five dykes built at Katpadi and Gudiyatham taluk across the Palar river and its tributary, Malataru, in Vellore. 'The new facility will help us to cultivate at least three seasons in a year. It also contributes to the depletion of water resources in the area,' said K. Vembu, a farmer. Other new dykes are being built at Shenbakkam (Vellore Corporation), Kugaiyanallore, Masigam villages in the district. In Ranipet, a dyke at Thiruparkadal village near Walajah town is under construction. Among these, the dyke at Thiruparkadal village is the longest facility (1,345 metres), whereas the dyke in Masigam village near Katpadi across Malataru river is the shortest one (220 metres). 'Dykes help to store excess rainwater that gets discharged into the Palar river. Such a facility was built depending on the depletion of the groundwater level in identified areas along the river,' R. Ramkumar, Assistant Engineer (AE), PWD (Katpadi), told The Hindu. On average, each dyke helps to recharge groundwater for about three-km radius around the facility. It will help to irrigate around 20,000 hectares of farmland in at least 30 villages. Paddy is the chief crop in these villages due to less water usage. Built under the National Agriculture Development Scheme, the new dyke at Arumparuthi village is 720 metres long, 85 metres wide across the river and eight metres in depth. Apart from irrigation, the new dyke helps to recharge 251 farmwells in Katpadi area. It will also increase the groundwater level to a distance of at least three km in its vicinity. WRD officials said that at present, civic bodies, including Vellore Corporation, have borewells near the new dyke to draw water for domestic consumption. The new facility will help to increase water level in these bore wells.
Saudi Gazette
09-07-2025
- Business
- Saudi Gazette
Alkhorayef emphasizes Saudi Arabia's growing role as global industrial investment hub
Saudi Gazette report YEKATERINBURG — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef emphasized the Kingdom's growing role as a global destination for industrial investment. He highlighted this while chairing Saudi-Russian roundtable meeting held on the sidelines of the 2025 INNOPROM International Industrial Exhibition in Yekaterinburg, Russia. The roundtable, organized by the Ministry of Investment, brought together senior government officials, business leaders, and investors from both Saudi Arabia and the Russian Federation to explore avenues for deepening economic and industrial cooperation and forming strategic partnerships in key sectors. In his speech, Alkhorayef highlighted the transformative impact of Vision 2030 in reshaping the Kingdom's economy into a diversified, competitive, and sustainable model. He underscored the wealth of opportunities available in Saudi Arabia's strategic sectors, particularly in industry and mining. He pointed to a range of strategic assets that make the Kingdom an attractive investment destination, including its geographic position linking major global markets, robust industrial infrastructure comprising industrial cities and economic zones, as well as the availability of natural resources, competitive energy prices, and a skilled workforce. He noted the ease of doing business and the wide range of investor support services available, such as financing solutions, ready-built factories, and export incentives. The minister stressed Saudi Arabia's commitment to building human capital as a cornerstone of sustainable industrial growth. He noted that the Kingdom's localization efforts include comprehensive training and upskilling programs aimed at equipping the national workforce with advanced manufacturing competencies tailored to the evolving needs of modern industries. Also present at the meeting were Assistant Minister of Investment Dr. Abdullah Aldubaikhi and Saudi Ambassador to Russia Abdulrahman Al-Ahmad. The roundtable formed part of Minister Alkhorayef's official visit to Russia, where he is leading the Saudi delegation at INNOPROM 2025. Saudi Arabia's participation underscores its efforts to enhance international industrial cooperation, promote knowledge transfer, and attract advanced technologies to support the localization of high-potential industries. Saudi Arabia's global industrial ambitions unveiled at INNOPROM Minister Alkhorayef unveiled on Wednesday Saudi Arabia's sweeping industrial ambitions during his participation at INNOPROM 2025 in Yekaterinburg, positioning the Kingdom as a rising global force in future technologies and advanced manufacturing. Speaking at a strategic dialogue session titled "Technological Leadership: Industrial Breakthrough," Alkhorayef outlined the Kingdom's plan to lead the next wave of industrial innovation by strengthening its position in global value chains and accelerating the adoption of Fourth Industrial Revolution technologies. Alkhorayef thanked the Russian Federation and the INNOPROM organizers for hosting the Kingdom as a strategic partner at this year's exhibition. He noted that Saudi Arabia's participation reflects its broader commitment to international cooperation and its intent to attract partners to the Kingdom's rapidly evolving industrial landscape. The minister said that the National Industrial Strategy, launched in 2022, is central to the transformation aimed at reshaping the Kingdom's industrial foundation. The plan is based on three main pillars. The first focuses on industries critical to national resilience, such as food, pharmaceuticals, water, and defense, which are being localized through targeted investments and international partnerships. The second pillar leverages Saudi Arabia's natural and logistical advantages, including its oil, gas, and mineral wealth, as well as its strategic location as a crossroads between continents, covering advanced petrochemicals, mining, and high-value downstream industries. The third pillar targets future-oriented sectors, such as artificial intelligence, 3D printing, and Industry 4.0 applications, where the Kingdom aims to take early leadership through strong R&D support, technology adoption incentives, and a robust local content policy that prioritizes national capabilities. Alkhorayef noted that the mining sector has become a significant pillar of Vision 2030. Through extensive geological surveying, the estimated value of Saudi Arabia's mineral resources has increased from $1.3 trillion to $2.5 trillion, encompassing critical minerals such as phosphate, copper, iron ore, zinc, and other strategic materials. He emphasized that the sector is advancing with a full commitment to environmental stewardship and social responsibility. The minister highlighted the Kingdom's growing role as a global convenor for critical minerals dialogue through the Future Minerals Forum (FMF), hosted annually in Riyadh. Since its inaugural edition in 2022, FMF has become a leading global platform for shaping the future of minerals, driving collaboration on mineral resilience and responsible supply by bringing together governments, industry experts, investors, academia, and stakeholders across the entire mineral value chain. The minister highlighted the similarities between Saudi Vision 2030 and Russia's strategic development goals, particularly in economic diversification, digital transformation, and industrial innovation. He referenced the establishment of the Saudi-Russian Joint Committee in 2002 and the opening of the Saudi Commercial Attaché office in Moscow in 2022 as pivotal steps in deepening bilateral cooperation. He noted that the volume of trade exchange between the two countries has witnessed remarkable growth in recent years, rising from $491 million in 2016 to more than $3.28 billion in 2024.
