Latest Economic Development News

Woodside Energy and its partners have welcomed the Australian government's proposed environmental approval extension for the North West Shelf Project, securing its future and supporting thousands of jobs.

BSP Financial Group reported a 17% rise in net profit and a 16% dividend increase for 2024, while advancing key digital and SME banking initiatives across the South Pacific.

Minbos Resources advances its Cabinda Phosphate Project with strong sales interest and a $36 million financing package, positioning itself as a key player in Angola's agricultural transformation.

Core Lithium has released a comprehensive Restart Study for its Finniss Lithium Project, outlining a transition to fully underground mining that extends the mine life to 20 years while slashing operating costs and boosting production capacity.

MTM Critical Metals has locked in a pre-permitted industrial site in Texas, positioning itself to commission its innovative metal recovery plant by year-end 2025 and accelerate U.S. commercial expansion.

Kinetiko Energy reports encouraging progress in South African gas exploration, with improved well performance and a drilling optimisation study revealing key production enhancements.

Empire Energy Group is advancing its Carpentaria-5H well hydraulic stimulation scheduled for June 2025, alongside preparations for the Carpentaria Gas Plant construction, aiming to commence gas sales from EP187 by late 2025 or early 2026.

RBR Group Limited has signed a conditional MOU with Field Ready Group to establish a joint venture focused on employability training in Mozambique, supporting major LNG projects including ExxonMobil’s Rovuma LNG. The venture, through RBR’s subsidiary Futuro Skills, aims to enhance local workforce readiness and economic growth.

Axel REE Limited advances its flagship Caladão REE-Gallium Project with significant high-grade intercepts and begins a maiden Mineral Resource Estimate, backed by $9.6 million in cash and strategic government partnerships.

Ardea Resources Limited has made significant progress on its Kalgoorlie Nickel Project (KNP) Goongarrie Hub, supported by a fully funded $98.5 million Definitive Feasibility Study (DFS) led by a Japanese consortium. The project is positioned as a long-life, low-cost nickel-cobalt operation critical to the global battery supply chain.

Gold Mountain Limited has confirmed high-grade Rare Earth Oxide mineralisation from 56 drill holes at its Down Under REE Project in Brazil, highlighting significant potential for resource expansion and further exploration.

Mayur Resources has locked in $11.2 million in funding from Pacific Unison to kickstart production at its Orokolo Bay Industrial Sands Project in Papua New Guinea, targeting 500,000 tonnes of magnetite annually by late 2025.