Shares in Critical Minerals Surge Following Australia-US Partnership
Jonathan Barrett
Early trading on the ASX saw a significant boost in the stock prices of resource and industrial firms as investors responded to the newly announced $US8.5 billion critical minerals agreement between Australia and the United States.
Prime Minister Anthony Albanese highlighted two key initiatives within this deal: one led by Alcoa and another by Arafura Rare Earths. Both projects are set to receive substantial government funding as part of a wider strategy to strengthen critical mineral operations.
Following the announcement, Arafura’s shares jumped over 15%, surpassing 55 cents, while Alcoa’s stock climbed 8% to reach $60.
Arafura Rare Earths aims to produce light rare earth oxides such as neodymium and praseodymium. These elements are vital for manufacturing magnets that power a range of technologies, including renewable energy turbines, advanced medical equipment, electric vehicle motors, and precision guidance systems for missiles.
Notably, Gina Rinehart holds a 10% ownership stake in Arafura.
Alcoa is advancing plans for a gallium production facility in Western Australia. Gallium is a critical metal extensively used in semiconductor fabrication and defense technologies, particularly in sophisticated electronic warfare systems.
The momentum in Australia’s critical minerals sector has accelerated recently, driven by joint efforts from the Australian and US governments to reduce reliance on China’s dominance in this market.
Approximately thirty minutes following a notably cordial and uneventful discussion between Donald Trump and Anthony Albanese, the Australian ambassador to the United States, Kevin Rudd, was overheard offering an apology to the former president. This came after Rudd had previously referred to Trump as a “village idiot” four years prior, and he leaned across the table to express his regret directly.
According to Australian officials present during the meeting, Trump responded to Rudd’s apology by saying, “all is forgiven,” once the press had departed the room.
For further insights, see:
‘I don’t like you either’: diplomats hold their breath as Trump chides Rudd over previous comments
Opposition leader Sussan Ley has publicly stated this morning that Kevin Rudd should be relieved of his duties as Australia’s ambassador to the United States.
During an interview with ABC News, Ley described President Trump’s comments directed at Rudd as the “elephant in the room,” highlighting the awkwardness of the situation:
“Being reprimanded by the president, who appeared unfamiliar with the Australian ambassador, while your own prime minister chuckles along, was quite unfortunate. I believe this makes the ambassador’s role untenable at this point.”
She further expressed her views on Sky News, emphasizing the inappropriateness of the ambassador’s current standing:
“When the ambassador becomes the subject of ridicule and the prime minister is visibly amused at his expense, it clearly signals that continuing in this position is unreasonable.”
Ley also criticized the outcomes of the recent meeting, pointing out the absence of progress on tariff negotiations:
“It seems the necessary efforts to secure a tariff agreement beneficial to our nation have not been made. There are numerous challenges in the bilateral relationship, and perhaps the critical minerals agreement could have been used as leverage to obtain tariff commitments. Unfortunately, that does not appear to have occurred.”
Meanwhile, Foreign Affairs Minister Penny Wong addressed President Trump’s remark during the White House meeting, where he told Rudd, “I don’t like you either,” sparking uneasy laughter around the table. Wong reassured the public that the ambassador had performed admirably in facilitating the meeting between Trump and Prime Minister Albanese:
“Those comments were clearly made in jest. I am very pleased with the success of the meeting, which is a positive development for our country. The endorsement of the critical minerals deal is significant, and the president’s strong support for Aukus and the submarine program is crucial for our defense capabilities.
Kevin Rudd did an outstanding job not only in arranging the meeting but also in advancing the critical minerals agreement. The positive outcomes of the meeting reflect his dedicated efforts.”
In a separate development, New South Wales Premier Chris Minns announced that the state government will invest $190 million to reacquire the Northern Beaches Hospital, reintegrating it into the public healthcare system. This acquisition will add 494 beds to the public hospital network, with the transaction expected to conclude by 2026.
NSW Government to Reacquire Northern Beaches Hospital in $190 Million Agreement
NSW Labor leader Chris Minns has sharply criticized the public-private partnership model used to establish the Northern Beaches Hospital. Unlike other private hospitals, this facility uniquely serves as the sole public hospital for the 350,000 residents of the Northern Beaches region.
“This is a critical service that cannot be delegated to private operators,” Minns emphasized, underscoring the importance of direct government control over essential healthcare services.
The debate over the hospital’s service quality intensified following the tragic death of two-year-old Joe Massa in 2024, which brought national attention to the implications of hospital privatization in New South Wales.
Foreign Affairs Minister Hails Successful US-Australia Meeting
Foreign Affairs Minister Penny Wong described the recent summit between US President Donald Trump and Australian Prime Minister Anthony Albanese as highly productive.
“The president expressed his strong affection for Australia, reaffirmed the Aukus security pact, and confirmed that Australia will receive the submarines as planned. Additionally, the leaders announced a landmark critical minerals agreement valued at approximately US$8.5 billion. This outcome reflects the government’s steady and mature approach in safeguarding national interests,” Wong stated.
Wong further highlighted President Trump’s unequivocal support for the Aukus submarine project, noting the extensive collaboration between both governments to keep the initiative on track.
“President Trump was crystal clear about his backing of the submarines and the Aukus agreement. He acknowledged the significant progress made by both administrations on this vital project,” she added.
This reaffirmation of the Aukus pact and the critical minerals deal marks a pivotal moment in Australia-US relations, emphasizing strategic cooperation and economic partnership.
Daisy Dumas
Ley welcomes diverse opinions on Coalition’s energy strategy, including Barnaby Joyce’s
Opposition leader Sussan Ley emphasized that all perspectives, including those from Barnaby Joyce, are valued in shaping the Coalition’s energy policy.
During a recent press briefing in Paddington, Sydney, Ley refrained from commenting on Joyce’s status within the Nationals party meetings, stating:
Sussan Ley: “Barnaby Joyce is a Nationals party member, and as the Liberal party leader, I won’t interfere with their internal arrangements. However, as we craft our energy policy, which will distinctly differ from the current government’s, every viewpoint is encouraged.”
When questioned by Guardian Australia about whether Joyce’s potential departure from the Nationals might ease winning support in teal electorates like Wentworth, Ley reiterated her position:
Sussan Ley: “Barnaby remains part of the Nationals party room, and decisions regarding that are best left to them.”
Woolworths attributes recent potato shortages to seasonal factors and 2024 weather impacts
Customers have noticed a dip in potato availability in supermarkets recently. Woolworths explained that drought conditions experienced late last year have affected yields, but supply should normalize as seasonal changes conclude.
A Woolworths representative stated:
“We currently have adequate potato stocks for our customers, though drought in late 2024 and early-year frosts have influenced crop yields. Seasonal transitions often cause temporary supply fluctuations, but we anticipate a return to normal levels in the upcoming weeks as new season produce arrives.”
US Senator Jeanne Shaheen affirms Australia’s role as a steadfast ally and highlights Aukus’ importance
Jeanne Shaheen, a senior Democrat and ranking member of the US Senate Foreign Relations Committee, praised Australia as a “steadfast partner in the Indo-Pacific” and a crucial pillar for shared security and prosperity.
In a statement, Shaheen underscored the necessity of a robust US-Australia alliance to deter Chinese aggression, noting:
“I welcomed President Trump’s endorsement of Aukus, which is vital for America’s security and for distributing the responsibilities of collective defense among allies.”
“The US must also enhance collaboration with Australia on critical minerals to build resilient supply chains, reduce reliance on China, and strengthen our industrial capabilities.”
“The Indo-Pacific region is observing whether the US will uphold its commitments. Congress remains dedicated to working with allies to ensure Aukus and other strategic partnerships fulfill their promise of shared security and economic growth.”
Shares in critical minerals soar following Australia-US agreement
Jonathan Barrett
Resource and industrial stocks surged on the ASX as investors reacted to the new $8.5 billion Australian-American critical minerals agreement.
Prime Minister Anthony Albanese highlighted two key projects receiving government funding: one led by Alcoa and another by Arafura Rare Earths, among other strategic initiatives.
Arafura’s shares jumped over 15% to above 55 cents, while Alcoa rose 8% to $60.
Arafura focuses on producing light rare earth oxides such as neodymium and praseodymium, essential for manufacturing magnets used in technologies ranging from renewable energy turbines to medical equipment and missile guidance systems.
Gina Rinehart holds a 10% stake in Arafura.
Alcoa plans to establish a gallium processing facility in Western Australia. Gallium is a strategic metal critical for semiconductor production and defense technologies, including advanced electronic warfare systems.
The broader Australian critical minerals sector has experienced significant growth recently, driven by efforts from both Australian and US governments to reduce China’s dominance in this market.
Tory Shepherd
Kaurna ancestors from southern country to be reburied in Adelaide
Today marks the fourth ceremony at Wangayarta memorial park in Smithfield, northern Adelaide, where First Nations ancestors from southern Kaurna country will be laid to rest.
Many of these ancestors’ remains were collected and held by museums and universities during the last century.
Mitzi Nam, chair of the Kaurna Yerta Aboriginal Corporation, expressed relief that the spirits of their ancestors can now be reunited and rest peacefully:
“We have reburied ancestors from all directions of Kaurna Yerta, but this will not be the final reburial. There are still ancestors both here and overseas who need to be brought home and laid to rest.”
Anna Russo, Aboriginal heritage and repatriation manager at the South Australian Museum, remarked:
“Wangayarta stands as a lasting legacy created by the Kaurna people, who resolved that the stories of their ancestors being disturbed from traditional burial sites and sent to institutions like the Adelaide Museum and University should not be forgotten.”
Barnaby Joyce Clarifies Alignment with Pauline Hanson but Denies One Nation Membership
During a recent press conference, Barnaby Joyce addressed questions regarding his alleged association with the One Nation party.
He explained:
Pauline Hanson and I share numerous viewpoints. Historically, we have been at odds, but perspectives evolve over time.
While we align on several issues, I am not affiliated with One Nation.
Joyce further emphasized that philosophically, he resonates with many of One Nation’s priorities, such as opposing net zero emissions targets.
Sussan Ley Maintains Call for Kevin Rudd’s Removal Despite Trump’s Forgiveness
Opposition leader Sussan Ley spoke in Sydney regarding her previous demand for Kevin Rudd to be dismissed as ambassador to the United States.
Following reports that Donald Trump accepted Rudd’s apology for labeling him a “village idiot” four years ago, Ley was asked if this would alter her position.
I encourage everyone to review the tense exchange and draw their own conclusions. It was evident that the president was unfamiliar with the ambassador, and the prime minister’s laughter at the insult during the meeting signals a strained relationship.
This issue transcends individuals; it concerns Australia’s national interests. We require unified efforts to support our industries and businesses effectively.
Barnaby Joyce Describes His Departure as ‘Emotionally Challenging’ and Rules Out Quick Return to Nationals
Joyce revealed the difficulty behind his decision to leave the Nationals, stressing he would not rejoin the party impulsively.
This has been an emotionally taxing matter. Although I remain essentially a Nationals member, I have not joined another party.
I won’t be someone who leaves and returns within days. This was a carefully considered choice after a prolonged period of worsening circumstances. Nothing recent has changed my mind, and I won’t cause disruption by reversing my decision lightly.
Barnaby Joyce Commits to Policy Engagement but Avoids Actions That Could Harm the Nationals
Speaking from Tamworth, Barnaby Joyce elaborated on his choice to step away from the Nationals.
The relationship in Canberra had deteriorated significantly. I want to be clear: I value the support of the Nationals’ membership and will not engage in anything that could damage them.
However, I intend to remain active in policy discussions, as I have the right to do so.
Joyce explained that his departure was motivated by a desire to express his views freely without conflict within the party.
This is why I am not contesting the New England seat again. I want to avoid causing harm to those who have supported me, allowing them to move forward.
Anthony Albanese to Meet with Marco Rubio and US Treasury Secretary During Washington Visit
Prime Minister Anthony Albanese is continuing his diplomatic engagements in Washington, D.C., with scheduled meetings and dinner involving key figures from the Trump administration.
Albanese will dine with Secretary of State Marco Rubio and hold a working session with Treasury Secretary Scott Bessent.
The prime minister’s visit to the US capital is brief, concluding tomorrow before his return to Australia.
Australians Set New Online Shopping Record with $20.7 Billion Spent in Recent Quarter
New data from Australia Post reveals that Australians spent a record-breaking $20.7 billion on online purchases between July and September, marking a 15% increase compared to the previous year.
Approximately 8.1 million households engaged in online shopping, a 2.7% rise year-over-year, maintaining an average spend of $95 per transaction.
Top categories include online marketplaces, groceries and alcohol, and apparel, with half of shoppers planning to take advantage of upcoming Black Friday deals.
Residents of New South Wales led online spending, followed by those in Victoria and Queensland.
‘I Don’t Like You Either’: Trump’s Sharp Exchange with Australian Ambassador Kevin Rudd at White House
A notable moment from today’s White House meeting featured Donald Trump exchanging barbs with Australian ambassador Kevin Rudd.
Trump Forgives Kevin Rudd Following White House Meeting
Shortly after a cordial meeting between Donald Trump and Anthony Albanese, Australian ambassador Kevin Rudd was overheard apologizing to Trump for previously calling him a “village idiot.”
According to sources present, Trump responded by saying, “all is forgiven.”
Sussan Ley Asserts Kevin Rudd’s Role as Ambassador Is No Longer Viable Post-White House Meeting
Opposition leader Sussan Ley has reiterated her stance that Kevin Rudd should be removed from his position as Australian ambassador to the United States following the recent White House encounter.
NSW Premier Chris Minns Praises Reversal of Northern Beaches Hospital Privatization
New South Wales Premier Chris Minns commented on the government’s decision to reclaim the Northern Beaches hospital from private management.
This move overturns one of the most detrimental decisions made by any NSW government, which imposed a private hospital model on the Northern Beaches community.
Our state’s critical hospital services, which provide essential care, should remain public. Thanks to the efforts of Elouise and Danny Massa, Joe’s Law now prevents future governments from repeating such privatization mistakes.
Their dedication ensures a lasting benefit for all patients and families relying on public healthcare.
The government is currently determining how to manage private services within the hospital, which healthcare professionals consider vital for patients with private insurance.
All hospital staff will be offered positions within NSW Health.
During an interview with ABC News this morning, she described President Trump’s comments directed at Ambassador Rudd as the “elephant in the room.”
“It was quite unfortunate to witness the president reprimanding the ambassador-someone he seemingly did not recognize-while the prime minister appeared to find it amusing. This situation casts serious doubt on the ambassador’s ability to continue in their role.”
In a separate conversation with Sky News, she added:
“When the ambassador becomes the subject of ridicule and the prime minister joins in the laughter, it clearly signals that maintaining the ambassador in that position is no longer appropriate.”
Ley expressed skepticism about the meeting’s effectiveness, particularly highlighting the stagnant progress on tariff negotiations:
“It seems the necessary groundwork to secure a meaningful tariff agreement, which is crucial for our nation, has not been accomplished. Numerous challenges persist in the bilateral relationship, and it appears the critical minerals agreement was not utilized as leverage to advance tariff commitments.”
