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The global metals markets are evolving rapidly, shaped by shifting supply chains, rising demand for critical minerals, geopolitical uncertainty, and increasing price volatility across ferrous, non‑ferrous and emerging technology metals. Argus provides independent metals pricing, trusted benchmarks and actionable market intelligence that give mining companies, metal producers, traders, manufacturers and recyclers the clarity and confidence they need to navigate increasing cost exposure, manage risks and make data-driven decisions.
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Australia’s Queensland budgets $3.6bn in energy spend
Australia’s Queensland budgets $3.6bn in energy spend
Sydney, 23 June (Argus) — Australia's Queensland state government has earmarked A$5.2bn ($3.6bn) for power station maintenance and new transmission lines in its 2026-27 budget, as part of its Energy Roadmap plan. The Liberal National Party (LNP) government added A$1.8bn in funding to its electricity maintenance guarantee over the next five years. This builds on a A$400mn investment towards overhauls at the Callide C and Tarong coal-fired power plants, and the Wivenhoe pumped hydro station in 2025-26, the government said. The state allocated an additional A$3.2bn towards its A$13.9bn CopperString transmission project , which will link the national electricity market with the mining city of Mount Isa in the state's northwest. Its eastern link is expected to reach commercial operations by 2032. Queensland also earmarked A$501mn for the A$2.5bn Gladstone transmission project to reinforce central Queensland's energy grid. The state government expects to receive A$4.7bn in coal royalties in 2025-26, A$6.9bn in 2026-27 and A$6.3bn in 2027-28, budget papers show. Coal royalties were suppressed in 2025-26 due to lower global coal prices, the government said. Hard coking coal accounted for around 54.7pc of the state's total coal export value in 2025, followed by semi-soft coking coal at 25.3pc and thermal coal at 19.9pc. The US-Iran war increased global demand for thermal coal due to the disruption of gas supply from the Middle East, pushing premium thermal coal prices up from $117/t in February to $142/t in early April, the government said. It expects thermal coal prices to moderate over the coming quarters. The budget did not alter the state's coal royalty regime, which is the highest in the world . The Queensland Resources Council called on the government to reduce its royalty settings in a statement on 23 June. Argus assessed hard coking coal fob Australia at $199.60/t and premium hard low-volume fob at $243/t on 22 June. The Queensland government expects coking coal sales to be supported by demand from India and Vietnam. LNG exports from Queensland rose to a record 24mn t in 2024-25 and are expected to be similarly strong in 2025-26, the government said. LNG shipments from Gladstone rose on the year in May to 1.93mn t. Queensland expects to receive A$1.1bn in petroleum royalties in 2025-26, A$1.9bn in 2026-27 and A$1.2bn in 2027-28, which primarily come from LNG. The state government also added A$146mn to accelerate the extraction, processing and export of critical minerals and drive new investments into projects and infrastructure, it said. The current LNP administration has committed to keep state-owned coal-fired power plants operating for longer than the previous Labor administration. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
More BHP iron ore port workers to strike in Australia
More BHP iron ore port workers to strike in Australia
Sydney, 19 June (Argus) — Over 100 workers at Australian mining firm BHP's Port Hedland iron ore operations will vote in the coming weeks to authorise strike action, joining two other unions who have already voted to proceed with strikes at the port. Members of the Australian Workers Union (AWU), which represents more than 100 workers at BHP's port operations in the Pilbara region of Western Australia (WA), have applied to workplace umpire the Fair Work Commission (FWC) to hold a ballot approving strike action, the union said on 18 June. If successful, this will enable union members to legally take strike action. Subject to regulatory approvals, the ballot will take place in the next few weeks, Argus understands. BHP has been negotiating a new enterprise agreement with its Port Hedland workers since October 2025, which will cover around 450 employees, excluding contractors, Argus understands. Approximately 250 of these workers are represented by unions including the AWU, Electrical Trades Union (ETU) and Australian Manufacturing Workers' Union (AMWU). Members of the ETU and AMWU have previously voted in favour of strike action, including work stoppages up to 24 hours at a time, in ballots with the FWC on 11 June. Around 150 workers across the AMWU and ETU are eligible to strike, FWC records indicate. They are required to give BHP five days' notice prior to launching strike action, as per their applications with the FWC. Port Hedland is the world's largest bulk iron ore export port and is a key export hub in BHP's WA iron ore supply chain. The firm produced 257mn t of iron ore in the fiscal year ended 30 June 2025. If the unions shut down the firm's Port Hedland operations, it could cost the WA A$6.85mn ($4.82mn) in iron ore royalties per day, a BHP spokesperson told Argus . The company is also currently negotiating a new enterprise agreement with workers at its Mining Area C and South Flank iron ore operations. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia's Core Lithium to buy Bynoe project
Australia's Core Lithium to buy Bynoe project
Sydney, 19 June (Argus) — Australian producer Core Lithium will buy 100pc of the Bynoe lithium project, located in the Northern Territory, from developer Charger Metals, both companies said today. Core will buy the 63km² site from Charger for A$3.75mn ($2.63mn) in cash. The site surrounds the Core's recently restarted 214,000 t/yr Finniss project and is 9km away from its lithium concentration plant. Core will pay a further A$1mn in cash if the Joint Ore Reserves Committee inferred mineral resource reaches 8mn t or more at a minimum grade of 1pc lithium oxide, pending further drilling. Core will also pay a 1pc royalty to Charger on all gross revenue generated from the tenement, capped at A$10mn, Core said on 19 June. The reserves committee is the accreditation body for Australian mineral resources and reserves. Core's existing Blackbeard prospect is located within the Bynoe project. The company is also developing the contiguous Carlton and BP33 prospects. These exploration sites offer growth options for Core given that spodumene prices have risen sharply in the past 12-months. They may also extend Finniss' 20-year mine life. Argus assessed 6pc spodumene fob Australia at $2,346.50/t on 17 June, up by 323pc on the year. Charger originally bought the Bynoe project from battery recycler Livium for $500,000 in 2024. Charger plans to use revenue from the sale to develop its Lake Johnston lithium project in Western Australia state. By Daniel Gage-Brown Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Radius settles with Calif. over scrap fires
Radius settles with Calif. over scrap fires
Pittsburgh, 18 June (Argus) — Metal recycler Radius Recycling has reached a settlement with California environmental regulators over multiple fires at the company's Oakland, California, scrap yard. Radius Recycling will pay $1.5mn in penalties and costs related to 21 violations of hazardous waste law, including from investigations of three fires at the Oakland scrap yard between 2018-2023, the California Department of Toxic Substances Control (DTSC) said 17 June. Radius Recycling, an Oregon-based bulk scrap exporter now owned by Toyota Tsusho, will split the payment roughly evenly to three areas: to reimburse DTSC's enforcement costs, to support special environmental projects, and to pay a civil penalty under hazardous waste law. The company will also upgrade the scrap yard with new fire prevention measures, including installing infrared cameras to detect hot spots in scrap piles. Radius said the settlement resolves all open enforcement matters with DTSC. "Radius Recycling has an unwavering commitment to operate safely, responsibly, and in full compliance with all environmental regulations," the company said. A fire at the Oakland scrap yard in 2023 sparked an uproar in the community. A local district attorney brought criminal charges in the aftermath, but those charges were later dropped . Radius' Oakland yard is a major source of ferrous scrap exports on the US west coast. It exported about 600,000 metric tonnes (t) of scrap in bulk cargoes last year, accounting for a quarter of total west coast bulk exports, according to [ Argus estimates](https://metals.argusmedia.com/dataanddownloads/downloadfile/365085) of VesselFinder tracking data. By James Marshall Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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