The US will impose a 35pc tariff on all imports from Canada effective on 1 August, President Donald Trump said in a 10 July letter to Canadian prime minister Mark Carney. The letter, which Trump posted on social media, noted that Canada previously planned retaliatory tariffs in response to the US' first tariff threats in the spring. He repeated his earliest justification for the tariffs — the illegal smuggling of fentanyl into the US from Canada — and said he would consider "an adjustment" to the tariffs if Canada worked with him to stop that flow.
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Bonn climate talks deliver mixed results
Bonn climate talks deliver mixed results
An energy crisis in the Mideast Gulf has not narrowed any of the key climate policy divisions, writes Georgia Gratton London, 19 June (Argus) — Talks hosted by UN climate body the UNFCCC in Bonn, Germany that mark the halfway point between UN Cop climate summits closed this week with negotiations stalling on key items related to cutting emissions and financing climate resilience in developing nations. These will be pushed to Cop 31 in Antalya, Turkey in November, unless things move forward at a handful of intersessional meetings before then. But progress was made this week to further the UNFCCC's just transition mechanism, which aims to ensure decarbonisation happens in an equitable manner. And implementing climate action gathered pace in Bonn under the Cop action agenda — a process that runs parallel to the talks and involves non-state actors. No agreement was reached on mitigation or adaptation — cutting emissions and adjusting to the effects of climate change, respectively. Countries displayed "sharp differences" on the former, think-tank E3G said. Finance was the stumbling block for adaptation, as countries did not agree on including mention of a goal agreed at Cop 30 to triple finance for adaptation in the final conference text. "Countries have effectively pressed pause on a process that was supposed to help turn adaptation commitments into action," E3G policy adviser Ana Mulio Alvarez said. But there was momentum on the issue that underpins climate change — transitioning away from fossil fuels. This is still not an official agenda topic, and the subject is fiercely opposed by several countries, including Saudi Arabia. But it remains on the priority list for many others. Australian energy minister Chris Bowen, who will become Cop 31 president of negotiations, called for "reducing fossil fuel reliance" in his opening speech at Bonn. Bowen, whose country is a major fossil fuel exporter, noted the "fragility of fossil fuel supply chains" — an issue highlighted by the recent closure of the Hormuz strait by the US-Iran war. Countries and organisations have responded to the Brazilian Cop 30 presidency's decision to build a roadmap on the move away from fossil fuels, making contributions and submissions. Fossil fuel producer Brazil is preparing its own roadmap at president Luiz Inacio Lula da Silva's request, Cop 30 president Andre Correa do Lago told the Financial Times Climate and Impact Summit this week. The final roadmap will be presented ahead of Cop 31 and will not represent consensus like the UNFCCC process, but a coalition of the willing. Although it is not universal, this approach could push climate action forward faster than Cop summits typically have. "Implementation has no consensus," Correa do Lago said at the Financial Times summit. But implementation is tied to finance, the lack of which is likely to slow the path for many developing countries. Hurdles ahead The talks in Bonn are technical, designed to ready the ground for decisions to be made at Cops, where ministers are present. But topics raised could bring further challenges at future climate meetings. Within the UNFCCC process, new discussions about trade — which involve the EU's carbon border adjustment mechanism — represent a potential major obstacle at future meetings. And many countries this week expressed deep concern about the pushback from some delegations on the previously accepted climate science that serves as the basis for action. The EU, UK, Japan and small island states underlined the importance of climate science. The science is "non-negotiable" and "we are deeply concerned about the increasing spread of confusing and purposefully misleading narratives and the threat to the integrity of information on climate change", the EU's representative said. UNFCCC executive secretary Simon Stiell reminded countries that commitments "that respond to the science and the 1.5°C [Paris agreement] limit", as well as on climate finance, "are the baselines". Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan's Cosmo Energy mulls LNG-fired power plant
Japan's Cosmo Energy mulls LNG-fired power plant
Osaka, 19 June (Argus) — Japanese energy firm Cosmo Energy is considering building a gas-fired power plant, given that domestic electricity demand is projected to continue rising. No details of the project framework have been decided. The company unveiled the considerations in its business plan to 2035, which was released on 18 June. The firm is mulling a gas-fired power plant while aiming to develop its renewable energy capacity, including wind and solar. LNG-fired generation can counter imbalances in renewables output. The firm aims to raise renewable capacity to 490MW by the April 2028-March 2029 fiscal year, up from 364MW in 2025-26. It also plans to increase power sales by 35pc to 3.1TWh over the same period. But power sources need to balance economic viability with decarbonisation, without being limited to green energy, the company said. Cosmo is also looking to expand its upstream exposure to natural gas beyond its traditional crude oil business. Details, such as location and timeline, have yet to be decided as the plan remains under consideration. The company may explore such opportunities in the UAE, where it plans to expand oil production . It remains unclear whether Cosmo will also move into liquefaction and LNG trading, even if it expands into upstream gas production and gas-fired generation. Fellow energy firm Idemitsu decided in March to invest in MidOcean Energy, an LNG company backed by US investment firm EIG, with the possibility of engaging in LNG trading. By Motoko Hasegawa 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.
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