Wright Prospecting awarded royalties from Hope Downs mine after legal battle with Gina Rinehart
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Gina Rinehart is Australia's wealthiest person. (ABC News: Cason Ho)
In short:
Gina Rinehart has suffered a legal blow, with a court ruling the family of her father's former business partner has the rights to royalties from her Hope Downs mine in WA's Pilbara.
Justice Jennifer Smith found both Mrs Rinehart's company Hancock Prospecting and Rio Tinto were jointly liable for the royalties payments to Peter Wright's family's company, Wright Prospecting.
But Justice Smith dismissed claims from Wright Prospecting and two of Mrs Rinehart's children that they owned part of Hancock Prospecting's share of the Hope Downs mine.
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Australia's richest person Gina Rinehart has been dealt a blow, with a court finding the family of former mining pioneer Peter Wright has the right to potentially hundreds of millions of dollars worth of past and future royalties from lucrative Pilbara mining assets.
Justice Jennifer Smith dismissed all claims, including by Mrs Rinehart's children and Mr Wright's descendants, to an ownership share in the Hope Downs iron ore mines and tenements, currently operated as a joint venture between Mrs Rinehart's Hancock Prospecting and Rio Tinto.
Justice Smith found both Hancock Prospecting and Rio Tinto were jointly liable for the royalties payments to Mr Wright's family's company, Wright Prospecting.
But she found Hancock Prospecting remained the 50 per cent owner of Hope Downs, in Western Australia's north.
Wright Prospecting successfully argued it was owed half of royalties from the Hope Downs mines. (AAP Image: Christian Sprogoe)
Mrs Rinehart's company welcomed the decision in a statement, saying the court had rejected the "baseless ownership claims of (two of her children) John (Hancock), Bianca (Rinehart) and Wright Prospecting Pty Ltd (WPPL) in their entirety".
Meanwhile, John Hancock expressed hope the judgement would lead to family reunification.
"I hope we can finally put these events from decades ago behind us, and as a united family, celebrate and continue the contribution we have made to Australia," he said in a statement.
As well as upholding Wright Prospecting's claim to a royalty share in Hope Downs, Justice Smith in part also upheld the claims to a separate royalty share by DFD Rhodes, representing the family of the late prospector Don Rhodes.
Lengthy trial
Justice Smith's ruling in the monumental legal showdown comes more than two years since the 51 days of hearings concluded in December 2023.
She scrutinised more than 4,000 documents tendered in evidence to determine the meaning and importance of agreements, documents and memos detailing events principally from 1967 to 2005.
The case revolved around the formal agreements made between Mrs Rinehart's father and iron ore pioneers Lang Hancock, his friend and business partner Peter Wright and Mr Rhodes on how to divide up their assets.
Peter Wright and Lang Hancock in the 1960s. (ABC News)
"At the heart of the issues raised by the parties to the proceedings were a number of formal agreements made decades ago between men who were friends or colleagues," Justice Smith said in a summary of the judgment.
In a statement, Wright Prospecting welcomed the judgment.
"Wright Prospecting commenced this action to recover our share of royalties from the Hope Downs 1 -3 mines," it said.
"That claim has been upheld.
"WPPL also sought either a proprietary interest or a royalty in the Hope Downs 4-6 mines and has been successful in its royalty claim."
At the heart of the dispute were the lucrative Hope Downs mines and tenements in the Pilbara region's Hamersley Range.
Wright Prospecting claimed they were "improperly denied" royalties and equity in Hope Downs by Hancock Prospecting.
Their case rested on the basis they were part of a partnership agreement between Mr Hancock and Mr Wright dating back to 1978.
1987 agreement key
Wright Prospecting asserted it was entitled to its half of the 2.5 per cent in royalties that Mr Wright and Mr Hancock's partnership Hanwright secured in an agreement with Rio Tinto's subsidiary, Hamersley Iron, in the early 1960s.
Wright Prospecting acknowledged Hancock Prospecting removed those Hope Downs tenements from their partnership, as they were allowed to do under a 1987 agreement, but that the same agreement stated they should still receive royalties from the asset.
As for the rest of the Hope Downs tenements, previously known as East Angelas, Wright Prospecting claims it has always remained an asset of the partnership and it should then receive an equity share in those tenements, potentially worth several billion dollars.
Hancock Prospecting sought to dismiss that claim outright, saying a later 1987 agreement was "fatal" to Wright's case.
The Hope Downs iron ore operation is in WA's Pilbara region. (AAP Image: Christian Sprogoe)
Hancock's barrister, Noel Hutley SC, told the court Hancock Prospecting exploited Hope Downs after Wright Prospecting "relinquished any right it had to those areas" under the 1987 agreement.
He said under that agreement, it was decided Hancock Prospecting could take up the East Angelas areas "for its own benefit".
DFD Rhodes had claimed a 1969 agreement meant it was entitled to a 1.25 per cent royalty share in Hope Downs.
Here's what you need to know about today's Gina Rinehart court ruling
Today's blockbuster court ruling over mining tenements worth billions of dollars in WA's iron ore rich Pilbara is the culmination of a complicated legal battle spanning more than a decade that has pitted family against family and siblings against each other.
Justice Smith in her summary "dismissed Rhodes' claims in contract for royalties, and upheld in part Rhodes' claim in equity to past and future royalties".
Speaking outside court, DFD Rhodes chief executive Matt Keady told reporters the decision was "a win" for the company, and although the windfall could be "substantial" there were likely to be further arguments.
"We are very, very pleased that the judgement has recognised the contribution of Don Rhodes to the iron ore industry," he said.
Asked how he reflected on the way Hancock Prospecting and Ms Rinehart handled the case, he said: "They are a formidable opponent."
Children's defences 'fail at first hurdle'
Mrs Rinehart's children, Bianca Rinehart and John Hancock, had claimed their grandfather Lang Hancock had put mining assets, including Hope Downs, in a family trust, partly for them to inherit.
But they claimed their mother had removed the assets to enrich herself in a "calculated and deliberate fraud".
In a separate legal action, they are claiming a share of Hope Downs from their mother.
John Hancock and Bianca Rinehart are Gina Rinehart's oldest two children. (AAP/ABC)
They and their siblings Hope and Ginia were joined to the case by Wright Prospecting to bind them to any decision.
Justice Smith found "it is not necessary to consider any of Bianca Rinehart and John Hancock's defences in these proceedings as they fail at the first hurdle".
A hearing has been set for next week to determine costs.
Justice Smith said both Hancock Prospecting and Wright Prospecting had won part of their case and lost part of their case, and one option could be they cancel out each other's costs.
The case could still be appealed, potentially all the way to the High Court, which would mean this high-profile battle between billionaires could continue for years to come.
Economists at IMF issue stark warning that Iran war could tip world toward recession
An Iranian resident looks out the window of his damaged home after Israeli-American strikes in Tehran, on April 7 2026. AFP/Getty Images
The International Monetary Fund has modestly reduced its forecast for global economic growth this year due to the Iran war but warned of more severe potential impacts of the conflict, the latest global economic body to do so.
“The global outlook has abruptly darkened following the outbreak of war in the Middle East,” Pierre-Olivier Gourinchas, economic counsellor at the IMF, wrote in the fund’s latest World Economic Outlook report, published Tuesday.
The conflict could still cause a global “energy crisis on an unprecedented scale,” he added.
The IMF now expects global growth of 3.1% in 2026, a 0.2 percentage point downgrade from its January forecast. This modest revision assumes that the war will be “relatively short-lived,” it said. Global inflation is also seen rising to 4.4% this year.
However, the fund also outlined two scenarios for a longer-lasting conflict. Under the more severe of these — in which oil and natural gas prices spike 100-200% relative to January and stay at that level into 2027 — global economic growth would come in at only 2% this year.
That would amount to “a close call for a global recession,” defined as economic growth below 2%, which has happened only four times since 1980, the IMF said.
Before the war, the global economy was performing better than expected, with growth on track to be revised upward this year, it noted. In one positive development, the downward revision was partly offset by reduced US tariff rates compared with last year, the IMF said.
‘Very dangerous time for the world’
The IMF prediction is the latest from a growing cohort of economists and organizations, including the Asian Development Bank and the United Nations, warning of the economic toll of a lengthy war in Iran.
Those warnings lay out the increasingly stark consequences of a war the US and Israel embarked on, including among friendly or allied nations who now face the prospect of economic chaos.
Iran has effectively closed the Strait of Hormuz, stopping about one-fifth of the world’s crude oil supply, as well as supplies of other commodities like natural gas, helium and fertilizer. Some countries are starting to run low on fuel supplies, particularly in the Asia-Pacific region, and prices for goods made with petroleum products are starting to climb.
On Wednesday, Australian Treasurer Jim Chalmers warned that the US-Israeli war with Iran had launched the global economy into a “really dangerous time.” Speaking to reporters, Chalmers pointed to the IMF forecast as evidence of the serious economic impact.
“The IMF is sounding the alarm on some pretty severe scenarios,” Chalmers said. “This is a very serious, very dangerous time for the world. Now, Australia is better placed and better prepared than a number of other countries, but we won’t be spared the fallout from this very substantial economic shock.”
Chalmers was on his way to Washington for a G20 meeting of finance ministers this week, as well as meetings with the IMF and World Bank, during which he said he would join other officials in calling for an end to the war.
“From an economic point of view, the end of the war can’t come soon enough, but even when the strait is properly reopened and even when the hostilities formally end in an enduring way we still expect the consequences of this war in the Middle East to be felt for some time now,” he said.
https://edition.cnn.com/2026/04/15/business/imf-global-recession-iran-war-intl-hnk
Sulphuric Acid Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035
The global Sulphuric Acid market has expanded to reach approximately 261 million tonnes in 2024 and is expected to grow at an impressive CAGR of 3.50% during the forecast period until 2035.
Sulphuric Acid is well-known mineral acid and oxidizing agent, commonly produced by contact process method by sulphur dioxide production using sulphur in the presence of air across the globe. Sulphuric Acid is colorless and water-soluble, having various applications across the chemical, fertilizer, and pharmaceutical industry. More than half of sulphuric acid goes into the production of phosphoric Acid, which producers use to make phosphate fertilizers (e.g., DAP, MAP, APP, etc.) used in the agriculture sector owing to its properties which include root & seed development and overall plant maturation. Other industrial uses of sulphuric Acid are for producing dyes, pigments, medicines, explosives, surfactants, inorganic materials, and acids, as well as petroleum refining and metallurgical operations.
The primary driver of the Sulphuric acid market is the Phosphate Fertilizers Sector. Mono ammonium phosphate (MAP) and diammonium phosphate (DAP), blended with phosphate rock to create phosphoric Acid, are made using Sulphuric Acid as a feedstock. Since these minerals may be readily absorbed and utilized by crops, mineral fertilizers supplement the soil's nutritional levels. The increasing demand and consumption of food following the growing population at a high rate across various regions globally would generate the need for fertilizers which is expected to swell the total demand for Sulphuric Acid globally. The global Sulphuric Acid market is anticipated to reach 382 million tonnes by 2035.
The Asia Pacific region dominates the Sulphuric Acid market in terms of consumption. Asia Pacific is expected to dominate the Sulphuric Acid market in the coming years, backed by increasing population, food consumption, and expanding fertilizer and manufacturing industries across these countries. Additionally, some of the leading producers of Sulphuric Acid are in this region. Moreover, China, the fastest-growing economy, has massive potential for the pharma industry, which contributes significantly to the overall growth of Sulphuric Acid in the region through the forecast period.
Based on the end-user industry, the global Sulphuric Acid market is segregated into Phosphate Fertilizers, Metal Processing, Phosphates, Fibres, Paints & Pigments, and Other end-use industries. Phosphate Fertilizers are dominating the Sulphuric Acid market on the global level. In 2024, this industry accounted for approximately 50% of the global market. The Metal Processing industry also relies heavily on sulphuric Acid. It is frequently employed in processing metals, such as in the production of copper and zinc, as well as in the "pickling" process, which cleans the surface of steel sheets. With ongoing construction projects, sulphuric acid demand for metal processing is anticipated to swell up by 2035.
Major players in the production of Global Sulphuric Acid are Yunnan Yun, Guizhau Phosphate Group, Saudi Arabian Mining Company (Ma’aden), OCP Group, Anhui Tomgling (North ferrous metal), Hubei Yihua, Jiangsu copper, Sichuan Dragon Python Group, Hubei Xingfa, Aurubis, and Codelco.
Key Target Audience:
• Sulphuric Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Sulphuric Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Sulphuric Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Gas prices may not be coming down as quickly as American drivers would like.
A two-week ceasefire between the U.S. and Iran went into effect last week, inspiring hope that gas prices could start falling soon. But when Fox News host Maria Bartiromo asked President Donald Trump on "Sunday Morning Futures" whether he thought oil and gas prices could come down before the midterm elections, he said, "it could be the same or maybe a little bit higher."
His comments came just after U.S. and Iran held peace negotiations in Pakistan over the weekend, but did not come to an agreement to end the war. The U.S. Navy then enacted a blockade of Iran ports in the Strait of Hormuz, a critical oil passageway, beginning Monday morning.
The conflict has caused major disruptions to the global oil supply chain, including the blockage of the Strait of Hormuz, driving up the price of oil. Brent crude oil, a global price benchmark, rose from around $70 per barrel before the war began to as high as $118 per barrel at the end of March. It currently sits around $97 per barrel.
When the war broke out at the end of February, the initial closure of the Strait led to the largest oil supply disruption in history, according to consulting firm Rapidan Energy.
As a result, gas prices have risen sharply around the world. The U.S. national average price per gallon is $4.12, according to AAA estimates. That's nearly 14% higher than a month ago, shortly after the Iran war had begun.
https://www.cnbc.com/2026/04/14/trump-gas-prices-midterms-iran-war.html
Gas carriers with Gazprom's Baltic LNG have been in Asia for several months, but the parties still found buyers. The vessels are heading to the Chinese terminal. China was left without Qatari LNG supplies after the start of the Iranian war, while gas prices rose to $ 688 in Asia.
Two LNG shipments from the Baltic Portovaya complex have obviously found buyers. Gas carriers Valera and Perle are heading to the Chinese Beihai terminal in the South China Sea. According to AIS ships, the first one has already bypassed Hainan Island and is located 80 miles from the terminal. Perle is maneuvering south of Hainan.
Each vessel carries up to 100 million cubic meters of gas in the form of LNG, which are currently worth $ 55 million on the market.
At the same time, gas carriers have been in Asia for several months, until finally their cargoes found their buyers. Obviously, the sale is complicated by the fact that Portovaya and the tankers themselves are under sanctions. At the same time, the same sanctioned project, Arctic LNG—2, is shipping shipments to Beihai without delay.
It is not known what the two-month stoppages of Gazprom's gas carriers are related to. The company does not comment on the operation of the complex. However, China is one of the largest importers of Qatari LNG, whose supplies stopped a month and a half ago — after the start of the Iranian war and the stop of transit through the Strait of Hormuz. During this time, the cost of gas in Asia has increased by more than 50% and LNG supplies are trading at $ 688 per thousand cubic meters.
As reported by EADaily, Yamal LNG, which is not under sanctions, continues to supply LNG only to Europe for the fourth month in a row, and only one tanker has so far headed for China. Of the available volumes, Russian companies so far have only sanctioned liquefied gas — from the Arctic LNG — 2 and Portovaya projects.
Chevron has agreed to an asset swap with Petroleos de Venezuela and its subsidiaries to consolidate its position in Venezuela’s heavy oil sector.
Under the agreement, Chevron will receive an additional 13.21% working interest in the Petroindependencia joint venture, increasing its total stake to 49%.
The Petropiar joint venture, in which Chevron holds a 30% interest, has also been assigned rights to develop the adjacent Ayacucho 8 area in the Orinoco Oil Belt.
As part of the swap, Venezuela will receive Chevron’s 60% and 100% operated interests in the offshore Plataforma Deltana Block 2 license, which contains the Loran gas discovery, and Block 3 license, which contains the Macuira gas discovery, respectively, as well as a 25.2% non-operated interest in the Petroindependiente joint venture in western Venezuela.
“This agreement expands Chevron’s heavy oil position in two key joint ventures in Venezuela and reflects our disciplined development of the country’s significant resources. Ayacucho 8 is a producing asset in close proximity to Petropiar, which enhances development efficiencies.
“This asset swap marks another important step in Chevron’s long history in Venezuela and reinforces our role in supporting regional energy security,” said Javier La Rosa, President of Chevron Base Assets and Emerging Countries.
Chevron said it has operated in Venezuela since 1923, with Petroindependencia and Petropiar producing extra-heavy oil from projects in the Orinoco Oil Belt.
The company maintains production and exploration operations across Latin America, including Argentina, Guyana and Venezuela, and holds about 35 active exploration blocks across Brazil, Suriname, Uruguay and Peru.
An above-ground section of the Druzhba oil pipeline stretches across open terrain. (Photo via siberia.transneft.ru)
Ukrainian President Volodymyr Zelenskyy announced Tuesday that a major Russian oil pipeline crossing Ukraine will return to operation by the end of April, restoring flows toward Central Europe after weeks of disruption.
Speaking in Berlin, Zelenskyy indicated that repairs on the Druzhba pipeline would be sufficient to restart operations, even if not fully completed. "It will be repaired by the end of April—not completely, but enough for it to function," he told reporters.
Pipeline damage and regional tensions
The Druzhba pipeline is one of the world’s largest oil pipeline systems, stretching roughly 4,000 kilometers across multiple European countries and carrying up to 1.4 million barrels per day.
Its southern branch, which supplies Hungary and Slovakia, has been offline since Jan. 27 following damage attributed to a Russian drone strike in Ukraine, and the outage quickly turned into a flashpoint between Kyiv and Budapest.
In March, Ukraine accepted EU technical support and funding to help restore flows through the damaged Druzhba pipeline.
Hungarian engineer Miklos Sziva checks the pressure at the refinery plant of the receiving station of the oil pipeline Friendship or Druzhba, in Szazhalombatta, some 30 kms south of Budapest, 09 January 2007. (AFP Photo)
Zelenskyy ready to hold talks with Hungary's new leader
The statement came as Hungary has undergone a major political shift, with Prime Minister Viktor Orban losing power after 16 years in office, whose campaign had framed Ukraine as a hostile actor.
Orban, who has maintained ties with Moscow throughout the conflict, blocked a €90 billion ($103 billion) European Union loan package to Ukraine, arguing that Kyiv had deliberately delayed restoring flows through the pipeline.
His successor, Magyar, has pledged a new political direction, even as key policy differences persist and he signals a more cautious approach in relations with Kyiv.
Zelensky, however, struck a pragmatic tone, signaling readiness to engage with Hungary’s new leadership. He confirmed that Kyiv is open to talks and aims to rebuild relations on "mutual respect."
KoBold launches $50 million lithium exploration in DR Congo
Program covers 3,000+ km², using AI, drilling and surveys
Initiative follows U.S.-DRC mining deal; targets major discoveries
U.S. mining company KoBold Metals has begun lithium exploration in the Democratic Republic of Congo, launching a $50 million campaign across its permits in Manono territory, Tanganyika province, the company said on Monday.
KoBold plans to explore 13 permits covering more than 3,000 square kilometers, with a target of 5,000 square kilometers by year-end. The program includes 30,000 kilometers of airborne survey lines, along with drilling and sampling. The investment will run through the first quarter of 2027, with $20 million already spent to acquire the permits.
In line with its strategy, KoBold will use artificial intelligence to help identify the most promising targets.
The move comes months after the United States and the DRC signed a mining cooperation agreement aimed at easing access for U.S. companies to the country’s mining sector. KoBold began building a presence in August, securing seven exploration permits in Manono, a strategic area hosting one of the world’s largest lithium deposits.
That deposit is the subject of a development project led by China’s Zijin Mining, amid an ongoing dispute with AVZ Minerals.
KoBold DRC managing director Benjamin Katabuka said the company was well positioned to operate at scale and accelerate the discovery of major deposits, adding that the DRC was emerging as one of the most important future sources of lithium globally.
The results of the campaign will be closely watched in the coming months. While new discoveries would support the company’s ambitions, developing a large-scale lithium mine will still require several years of investment. KoBold is also active in Zambia, where it discovered the Mingomba copper deposit.
Aurel Sèdjro Houenou
“If the closure of the Strait of Hormuz continues, we are especially concerned about the availability of precursor materials necessary for the mining industry to continue operating,” Friedland said.
“A second-derivative effect will be on global copper production due to the shortage of the world’s most important industrial chemical, sulphuric acid,” he added.
Ripple Effect Shortage
Sulphuric acid is a critical input in mining and agriculture. Besides its role in leaching copper from oxide ores, it is a vital part of phosphate fertilizer production, which accounts for over half of global demand.
Furthermore, it plays a large role in smelting and metal processing. Copper smelting alone consumes tens of millions of tons annually. Therefore, any disruption in the supply cascades across the food and metals supply chain simultaneously amplifies inflationary pressure and supply risk.
China’s decision to ban sulphuric acid exports starting May 1 doesn’t help the cause. The country, which ships about 2.7 million tons annually, is a major supplier to markets such as Chile.
The export ban—covering acid produced as a byproduct of copper and zinc smelting—tightens availability just as Middle East-linked shipping disruptions cut off roughly half of the seaborne sulfur supply. SunSirs data shows a nearly 130% year-to-date price rise.
Shielded From Trouble
Ivanhoe’s flagship Kamoa-Kakula complex in the Democratic Republic of Congo (DRC) is insulated from the risk. First-quarter production reached 71,417 tons of copper anode and blister, along with 117,871 tons of high-strength sulphuric acid.
Since the smelter generates acid as a byproduct, Kamoa-Kakula has the strategic advantage of a net seller, rather than a consumer. Still, the company has implemented contingency measures, including advanced diesel procurement, to safeguard operations.
However, elsewhere in the DRC, disruptions are already taking place. Reuters reported that leading copper and cobalt producers have seen shipments of key chemicals canceled or delayed, forcing them to cut usage and consider output reductions.
Uneven Supply Chain Shocks
The broader copper market presents a mixed picture in 2026. According to Mining.com, Macquarie argues that copper is currently oversupplied and overpriced, with global inventories rising by more than 1 million tons since early 2025 and visible stockpiles at multi-year highs.
Meanwhile, cobalt is already in deficit. DRC’s export curbs have caused a shortage of 82,000 tons last year, pushing prices higher. Unless the policy changes, shortages will persist through the decade.
Photo by Ziadi Lotfi via Shutterstock
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Kenmare Resources ( (GB:KMR) ) has provided an update.
Kenmare Resources has published its 2025 Annual Report and issued formal notice of its 2026 Annual General Meeting, to be held on 7 May in Dublin. The AGM notice and proxy form are available on the company’s website, with hard copies being mailed to shareholders who have opted for postal delivery.
The documents are also being filed with Euronext Dublin and the UK National Storage Mechanism, where they will be available for inspection. The release underscores Kenmare’s adherence to regulatory disclosure standards and provides investors with key governance and reporting materials ahead of the meeting.
The most recent analyst rating on (GB:KMR) stock is a Hold with a £220.00 price target. To see the full list of analyst forecasts on Kenmare Resources stock, see the GB:KMR Stock Forecast page.
Spark’s Take on KMR Stock
According to Spark, TipRanks’ AI Analyst, KMR is a Neutral.
The score is held back primarily by the 2025 earnings collapse (large net loss), negative free cash flow, and increased leverage, alongside weak technical momentum (below key moving averages with negative MACD). The main offset is the very high dividend yield, though the negative P/E reflects the recent loss.
To see Spark’s full report on KMR stock, click here.
More about Kenmare Resources
Kenmare Resources is one of the world’s largest producers of titanium minerals and zircon, operating the Moma Titanium Minerals Mine in northern Mozambique. Listed in London and on Euronext Dublin, the company supplies titanium feedstocks accounting for about 6% of global output to customers in over 15 countries for use in paints, plastics and ceramic tiles.
Average Trading Volume: 139,883
Technical Sentiment Signal: Sell
Current Market Cap: £188.4M
Great Southern Copper (LSE:GSCU) has increased its concession footprint at the La Colorada lithocap prospect, part of the Especularita Project in Chile.
Five new concessions, totalling 1,000 hectares, have been added to the prospect — which is defined by a 75km2 high-sulphidation lithocap, a scale capable of hosting multiple porphyry systems.
Ground exploration covering the new concession blocks will be included in the broader ongoing La Colorada exploration program. Activities include mapping and sampling.
Great Southern Copper says spectral mapping of alteration minerals will be key to vectoring toward hot, acidic feeder zones. The company notes geophysics surveys are also planned to begin during the current quarter.
CEO Sam Garrett says La Colorada sits within a lineament that hosts massive porphyry copper-gold deposits including Los Pelambres, Altar, Piuquenes, and El Pachon, and yet remains relatively unexplored.
“Planning and permitting for scout reverse circulation drilling targeting the western and southern margins of the lithocap are well advanced, and we hope to commence these programs within the month,” Garrett says.
The Especularita Project covers 16,816 hectares and is located 250km north of Santiago in Chile.
Great Southern Copper is a mineral explorer focused on the discovery of copper-gold deposits in Chile.
https://mining.com.au/great-southern-copper-grows-chilean-footprint/
The latest mill announcements show a market that remains structurally tight despite elevated pricing levels. The premium applied at CSI highlights continued supply constraints and firmer demand conditions in the western U.S., where limited domestic availability and logistical considerations continue to support higher transactional values compared to other regions.
On the production side, U.S. crude steel output reached its strongest weekly level since January 2022, with national mill capacity utilization rising to 79.1%. The increase has been primarily driven by solid operating rates across Midwest and Southern mills, supported by healthy order books from the automotive, construction, and infrastructure sectors. The recovery in output suggests mills are responding to stronger demand fundamentals while maintaining balanced supply discipline.
Despite the rise in production, the broader pricing environment remains supportive for domestic sheet producers. Market participants point to continued inflationary pressure from elevated energy costs and higher raw material input prices, which are reinforcing mills’ pricing power. At the same time, renewed discussions surrounding potential adjustments to Section 232 tariff measures are adding another layer of uncertainty to the market outlook, encouraging buyers to remain cautious in their procurement strategies.
Looking ahead to the second quarter, the U.S. flat steel market appears poised to remain broadly stable, though transaction prices for larger-volume and strategic buyers are understood to be below published mill offers. This suggests that while headline pricing remains elevated, mills continue to offer selective flexibility to secure consistent tonnage commitments.
https://www.steelradar.com/en/haber/nucor-raises-hrc-price-by-another-5st-2/
