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☆ Newmont plumps offer for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-10 | by ( Melanie Burton | ) www.reuters.com time to read: +3 min

Under the revised offer, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$32.87 a share, up from a previous exchange ratio of 0.380 that Newcrest's board unanimously rejected in February. Newcrest shares rose by as much as 7% to A$30.28 but still traded below the implied offer price. The latest bid is 16% higher than Newmont's initial proposal, and represents a 46% premium to Newcrest's share price on Feb. 3 before Newmont's bid was announced, Newcrest said. Reuters had reported that Newmont was open to raising its offer price for Newcrest. The revised deal is just shy of Glencore's $22.5 billion takeover offer for Canada's Teck Resources Ltd's (TECKb.TO) that was announced earlier this month.

☆ BHP's exploration accelerator to open to uranium, lithium finds
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, April 5 (Reuters) - BHP Group's (BHP.AX) programme to support promising minerals explorers will expand beyond copper and nickel to prospective uranium and lithium projects from September, the head of its Xplor program said on Wednesday. For its second year, the programme wants to receive double the number of applications at 500 from the first year as it opens up to more commodities, said Sonia Scarselli, vice president of BHP Xplor. "We will be looking not just at copper and nickel, but at uranium and lithium and so on," Scarselli told a commodities conference in Singapore. Scarselli told Reuters last month BHP saw lithium's demand-supply equation as not as fundamentally stretched as that for copper and nickel. The miner, which produces uranium as a byproduct at its Olympic Dam copper operations in South Australia, has become more vocal about the role of uranium in a new energy world.

[1/3] Yunupingu, an influential Australian Indigenous leader, is seen with Australian Prime Minister Anthony Albanese in this July 29, 2022 handout photo in Australia. Prime Minister Anthony Albanese called Yunupingu a "national treasure" who worked to unite Australia's leaders with its Indigenous community. Born in 1948 in Australia's remote Northern Territories, Yunupingu also worked with successive prime ministers to draft legislation on Indigenous rights. The Australian government last week took the first formal step towards holding a referendum to recognise Indigenous people in the constitution and set up an Indigenous "Voice to Parliament" to advise lawmakers on matters that impact their lives. Opposition leader Peter Dutton, whose Liberal party is yet to clarify its position on the referendum, called Yunupingu "one of our greatest Australians".

☆ Why Instagram's 'Creator Marketplace' has left many influencers twiddling their thumbs instead of scoring brand deals
▼ + stars: | 2023-04-03 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +9 min

"I was so excited when the creator marketplace was rolled out," content creator Melanie Demi told Insider. "Over the last couple of months, I feel like the creator marketplace has died down a little bit," Demi said. "Even on the TikTok creator marketplace, it's the same," said Joseph Arujo, who has access to the feature on both platforms. On TikTok's marketplace, creators can add their starting rates for brand deals or negotiate terms. TikTok's creator marketplace, for example, brought on "alpha partners" in 2021 such as Influential, Whalar, and Captiv8.

☆ Australia risks losing pole position in critical minerals race
▼ + stars: | 2023-03-30 | by ( Melanie Burton | ) www.reuters.com time to read: +5 min

The Grattan Institute, a think tank, estimates the critical minerals industry could add more than $400 billion to the economy by 2050, a bigger contribution than the coal industry, Australia's no.2 export, today. They want rapid action in light of new competition from the U.S., Canada and the European Union, which have laid out critical minerals strategies including billions of dollars in incentives. King said on Wednesday a critical minerals strategy would be released "soon". However the government has not said when it would deliver its national battery strategy. "The elements for an effective critical minerals strategy are in place.

Liontown controls two major lithium deposits in Western Australia, including its flagship Kathleen Valley project slated for first production in mid-2024, which is among the world's largest and highest-grade hard rock lithium deposits. North Carolina-based Albemarle is the world's biggest lithium producer with major facilities in Chile, China and Western Australia where it holds stakes in two mines and is building a lithium hydroxide processing plant near Perth. Albemarle had offered A$2.50 per share after two previous offers, Liontown said in an exchange filing. Albemarle said its "compelling" bid offered a material premium to Liontown shareholders who would benefit from its chemical conversion abilities and existing links with Liontown's customers. Liontown also said RT Lithium Ltd, a subsidiary of Albemarle, had built a near 2.2% stake through on-market purchases.

☆ Australia could reap $11.3 bln from battery sector by 2030 - Accenture
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

Australia's battery industry is poised to become a global leader given the country's mineral wealth, but the federal government needs to offer substantial industry incentives to shore up the sector given emerging global competition, according to the Charging Ahead report. Batteries could create local 61,400 jobs by 2030, said the report backed by government and battery industry research group Future Battery Industries, which will be launched by Industry and Science Minister Ed Husic in Canberra on Wednesday. Australia accounts for nearly half of the world's lithium supply, is the world's second biggest cobalt exporter and is a major supplier of rare earths. The report said Australia should reposition its export focus for batteries and battery material supply to countries seeking to diversify supply chains in a battery industry currently dominated by China. Australia should also pursue partnerships with geopolitical allies in order to capitalise on the opportunities at hand, the report added.

"Consequently, there is a risk that current and emerging impacts to cultural heritage are not being readily identified and/or appropriately managed," ERM said. The audit also found nearly half of Rio's assets lacked access to appropriately qualified and experienced cultural heritage expertise within the business. Cultural heritage management should not be contracted out because ownership of decisions should reside at Rio Tinto, ERM said. The global miner needed to improve and make more consistent its cultural heritage planning around water management and around closure of its operations, it added. The report followed an audit of 37 Rio Tinto assets.

☆ UK's Ofcom delays BT fibre pricing decision after CEO remarks
▼ + stars: | 2023-03-17 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

Rivals such as Virgin Media O2 and alternative fibre providers known as altnets are investing billions of pounds to build competing networks. 'SIGNIFICANT CONCERN'But comments made by BT Chief Executive Philip Jansen to the Financial Times - headlined "BT chief warns Openreach fibre push will 'end in tears' for rivals" - caused "significant concern", Ofcom said. Ofcom chief Melanie Dawes said in a letter to Jansen, published on Friday, that the regulator was committed to network competition. "They must question why BT Group is reducing its wholesale charges whilst increasing the prices that consumers pay for broadband," INCA said. BT's earlier wholesale pricing, Equinox, was challenged by altnet CityFibre, but Ofcom decided not to intervene.

☆ Shortage of Last-Ditch Drug for Advanced Prostate Cancer Worries Doctors
▼ + stars: | 2023-03-16 | by ( Jennifer Calfas | Melanie Evans | ) www.wsj.com time to read: 1 min

Novartis said it is prioritizing the Pluvicto supply for patients who have already started the regimen. A drug used to extend the lives of people with advanced prostate cancer is in short supply and will be for months, leaving some patients with no treatment option as the manufacturer works to ramp up production. The Food and Drug Administration said last week the availability of Pluvicto is limited as manufacturer Novartis AG struggles to meet demand. The drugmaker said the shortage stems from manufacturing and delivery issues.

☆ 32-year-old actress started a podcast to find out all she could about healthy aging—3 key things she learned
▼ + stars: | 2023-03-11 | by ( Renée Onque | ) www.cnbc.com time to read: +1 min

"I've been doing 'biohacking' before it was really a thing, like way back when I was in college," she says. Avalon was absorbed in all things health and wellness, including dietary changes like intermittent fasting. This inevitably led her to a new venture, "The Melanie Avalon Biohacking Podcast," where she interviews longevity experts about healthy aging. "I thought that a biohacking podcast would be the perfect platform to actually connect with all of these authors, doctors [and] researchers and ask them all of my questions, and share what I've learned with other people." 188 episodes later, here's what Avalon has learned from experienced longevity experts she's interviewed about healthy aging.

OTTAWA, March 9 (Reuters) - Canadian Police said on Thursday they are investigating allegations that two Montreal-area centers are being used as Chinese state-backed "police stations" to intimidate or harass Canadians of Chinese origin. The investigation adds to mounting allegations of Chinese interference in Canada's internal affairs, including accusations by Ottawa that Beijing tried to influence the last two Canadian elections. In November, the RCMP also launched an investigation into similar reports of Chinese "police service stations" in the Toronto area. The RCMP's deputy commissioner for federal policing, Michael Duheme, told a parliamentary committee last week that the agency has "taken overt actions" that led to the ceasing of operations at four alleged Chinese police stations. The Quebec RCMP alleged that Canadians of Chinese origin have been "victims of the possible activities" conducted by two centers, in Montreal and nearby Brossard, it has identified as possible police stations run by Beijing.

☆ Major copper producers unveil plan to reach net zero emissions by 2050
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, March 7 (Reuters) - A group of the world's biggest copper producers said it aimed to slash direct and indirect greenhouse gas emissions to zero by 2050, in a move that could make the sector more attractive to environmentally-conscious investment funds. Members include BHP Group (BHP.AX) Chile's Codelco, Glencore (GLEN.L), Freeport-McMoRan (FCX.N), Japan's JX Nippon Mining & Metals Corporation and Poland's KGHM (KGH.WA). There are no members from China, the world's biggest producer of refined copper. The copper producers plan to reduce direct and indirect emissions by decarbonising power supply, improving efficiency and scrap collection. Emissions produced by the copper industry as a whole represent 0.2% of global greenhouse gas emissions.

☆ Canada will 'never tolerate' foreign interference, minister tells China
▼ + stars: | 2023-03-03 | by ( Ismail Shakil | ) www.reuters.com time to read: +3 min

OTTAWA, March 3 (Reuters) - Canadian Foreign Minister Melanie Joly told her Chinese counterpart that foreign interference will not be tolerated in Canada's internal affairs, amid calls for a broad public inquiry into China's alleged meddling in the past two elections. "Canada will never tolerate any form of foreign interference in our democracy and internal affairs by China," Joly told China's foreign minister, Qin Gang, in their first-ever meeting, on the sidelines of the G20 summit in New Delhi, according to a statement on Friday. Prime Minister Justin Trudeau and Canada's top security officials acknowledge interference attempts by China, but they insist that election outcomes were not altered. Earlier on Friday, Qin refuted allegations that Chinese embassies and consulates in Canada were trying to interfere in Canadian elections, saying the alleged interference was "completely false and nonsensical." Canada's main opposition party slammed Trudeau for not endorsing a public inquiry, accusing him of trying to cover-up Chinese influence.

Rystad Energy sees the global market deficit of lithium shrinking to around 20,000 to 30,000 tonnes of lithium carbonate equivalent (LCE) this year, from 76,000 tonnes LCE in 2022. Out to 2025 it expects lithium supply to grow on average by 34% a year against an annual demand growth rate of 25%. MINERS UNFAZEDThe decline in lithium prices in China, the world's biggest consumer, has hit lithium producers overseas. LITHIUM CARBONATE SINKSThe price decline has been sharp. "A lithium carbonate price of 200,000-300,000 yuan per tonne is where both upstream and downstream will feel comfortable," said Rystad's Zou.

☆ An anonymous 'art-world family' took out a job ad for an executive assistant to make their life easier 'in every way possible'
▼ + stars: | 2023-02-27 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

A job posting for an executive assistant for a "high-profile art world family" recently went viral. For a $65,000-$95,000 salary, the prospective candidate is asked to "make life easier for the couple in every way possible." The ad has been removed, but was originally posted on a job board hosted by the New York Foundation for the Arts. But a recent ad for an "Executive Assistant" for an "Art World Family" has gone viral for its unreasonable — and borderline exploitative — list of job requirements. The ad was originally posted on a job board hosted by the nonprofit New York Foundation for the Arts.

As a result, the world's largest listed miner reported underlying profit attributable from continuing operations of $6.6 billion, down from $9.72 billion a year earlier. That missed a Vuma Financial estimate of $6.82 billion, as earnings from copper and coal came in lower than analysts had expected. Shares of the global miner fell as much as 2.8% to A$47.11, their lowest since Jan. 6 and were down 2% at 0138 GMT in a broader market (.AXJO) that was down 0.5%. BHP also said it expected aggressive global interest rate hikes from last year to slow growth sharply across the developed world. BHP has threatened not to invest in Queensland after the state hiked its coal royalties to the highest rate in the world.

SINGAPORE, Feb 21 (Reuters) - Chinese utilities and traders have stepped up purchases of Australian coal in February, encouraged by signs of further policy relaxation after trade partially resumed last month following a two-year hiatus. At least 15 vessels hauling about 1.4 million tonnes of February-loading Australian coal are bound for China, according to shiptracking data from Refinitiv and Kpler. Reuters GraphicsAnother more than 1 million tonnes of thermal coal have been booked to load in March, a senior trader with a state-run Chinese utility said. "In theory, firms who acquire the licence would be able to get their cargoes through customs," said another Chinese utility official. Chinese buyers may also face competition in Australian coal purchases as producers have pivoted their sales to other markets in China's absence.

SummarySummary Companies H1 profit misses estimateInterim dividend beats estimatePositive on demand outlook from ChinaStarts process to sell two Queensland met coal minesFeb 21 (Reuters) - Global miner BHP Group (BHP.AX) was positive about demand outlook through to fiscal 2024 as top metals consumer China reopens and shifts policy towards its debt-laden property sector, the company said on Tuesday after its 2023 first-half profit missed estimates. However, its interim dividend of 90 cents per share, while lower than last year's $1.50 per share, beat Vuma Financial's estimate of 88 cents. "We are positive about the demand outlook in the second half of fiscal 2023 and into fiscal 2024, with strengthening activity in China on the back of recent policy decisions the major driver," Chief Executive Officer Mike Henry said. But the reopening of the world's second-biggest economy and a property sector policy shift has BHP upbeat on the commodity demand outlook. However, in an environment where central banks are aggressively tightening their monetary policy, BHP expects its operating environment to remain volatile in the near term, but expects China to be a source of stability for commodity demand.

☆ Superyacht chef says life at sea serving the uber-rich is far from glamorous — from 'boat bites' and grueling 18-hour days to a guest who asked to 'heat the Adriatic'
▼ + stars: | 2023-02-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Former yacht chef Melanie White revealed what it's like to work at sea in a tell-all book. "We dwell on the threshold of the rich and famous," White wrote in a tell-all book about the industry that was released in October. Courtesy of Melanie WhiteIn the book, White breaks down the often grueling experience, which included working 18-hour days cleaning bathrooms and guest quarters. In the book, White compared her role to that of a fairy, magically and nearly invisibly doing tasks to please guests. Courtesy of Melanie White"The success of a business or boat lives and dies with the compatibility of the employees," White wrote.

☆ GE HealthCare Makes Push Into Artificial Intelligence
▼ + stars: | 2023-02-16 | by ( Melanie Evans | ) www.wsj.com time to read: 1 min

GE HealthCare hopes to tap into machine learning to help hospitals diagnose patients and assign beds, among other tasks. GE HealthCare Technologies Inc. is making a big bet on an important challenge in healthcare: collecting the disparate data on patients generated by machines and medical records and making it useful to hospitals. In pursuing a software platform that can help hospitals do things like find open beds and identify patients at risk for sepsis, GE HealthCare is taking on tech powerhouses such as Alphabet Inc.’s Google, Amazon.com Inc. and Microsoft Corp., which are already selling such services and bring the big-data and artificial-intelligence expertise the technology requires.

MELBOURNE, Feb 16 (Reuters) - Australia's Whitehaven Coal Ltd (WHC.AX) posted a more than five-fold jump in first-half profit on Thursday, aided by soaring coal prices, but paid a lower than expected dividend, sending its shares down. But Whitehaven announced an interim dividend of only 32 Australian cents per share, about 30% lower than Citi estimates and about 16 cents below Goldman Sachs' forecast. Whitehaven shares slid as much as 12.3% after news of the coal reservation scheme broke, before paring loses to A$7.88, down 3.8%. "We do think the structural underpinnings of the market are very positive, but in the short term, coal prices have come off quite a bit," Flynn added. Subsequently, the company kept its run-of-mine coal production guidance of between 19.0 million and 20.4 million tonnes for the 2023 fiscal year unchanged.

☆ ECB 50-basis-point hike in March a done deal, May and June undecided
▼ + stars: | 2023-02-16 | by ( Jonathan Cable | ) www.reuters.com time to read: +3 min

ECB President Christine Lagarde said at a news conference this month that the euro zone's central bank would add 50 basis points to the deposit rate. Economists took her at her word, with all 57 of them polled in the Feb. 10-15 period expecting a deposit rate hike to 3.00% at the March 16 meeting. The ECB will follow up on March's move with a further 25-basis-point lift next quarter, medians showed, giving a terminal deposit rate of 3.25% and a refinancing rate of 3.75%. In response to an additional question, an overwhelming majority - 26 of 28 - said the risk was the terminal deposit rate ends higher than they expect, rather than lower. Markets are currently pricing in a terminal deposit rate of 3.50%.

☆ ‘The Hard Road Out’ Review: A Prison Break Across Borders
▼ + stars: | 2023-02-14 | by ( Melanie Kirkpatrick | ) www.wsj.com time to read: 1 min

Thanks to the testimonies of North Koreans who have escaped their prison of a homeland in the past 25 years, the world is aware of the Kim-family regime’s atrocities against its own people. It is quite another to read personal accounts. “The Hard Road Out” by Jihyun Park and Seh-lynn Chai is the latest in a series of searing memoirs by North Koreans who beat the odds and reached safety in free countries. Ms. Park and her South Korean co-author relate Ms. Park’s awful story in clear-eyed, unsentimental prose. It is a gripping read.

BENGALURU/MELBOURNE, Feb 14 (Reuters) - Australia's iron ore giants BHP Group, Rio Tinto and Fortescue are set to report a steep drop in their earnings, which is set to compress their payouts to shareholders, after China's COVID lockdown drove down iron ore prices. Average realised prices for iron ore fell sharply in the six months to December, hitting earnings. First-half net profit at Fortescue, reporting on Feb. 15, is seen declining to $2.34 billion from $2.78 billion. Underlying half-year profit at Rio Tinto, which reports on a calendar year cycle, is seen declining 48% to $4.77 billion from $9.21 billion. Rio will report on Feb. 22.

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