Vast heaps of crushed brown rock hem the Indian Ocean at Western Australia’s Parker Point port — each a stockpile of 200,000 tons of iron ore, ready to be poured into a procession of bulk carriers bound for Asia’s steel mills. Rio Tinto Group, the world’s largest iron ore producer, shipped its first cargo of … Read more
Good morning from Sydney. It’s Ed here with the news you need to start your day. Today’s must-reads:• Albanese boosts critical minerals financing• RBA won’t hesitate to hike again• Power market volatility worries BHP Prime Minister Anthony Albanese announced a A$2 billion expansion in critical minerals financing in a potential boost for clean energy and … Read more
Germany is among several major economies rethinking their trade relationships with geopolitical rivals. But it’s finding out what the US and others are discovering — reducing ties with China is complicated and costly. “Germany will need China more than China needs Germany,” ING economist Carsten Brzeski said. “We will see a gradual reduction in Germany’s … Read more