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The Drill Down
Wednesday 25 March 2026 · Part 1 Edition
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Commodity Prices
| Precious Metals |
Price (USD/toz) |
| Gold |
$4,474.62
+67.95 (+1.54%)
|
| Silver |
$71.24
+2.10 (+3.03%)
|
| Platinum |
$1,937.50
+57.00 (+3.03%)
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| Palladium |
$1,435.50
+2.50 (+0.17%)
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| Base Metals (LME) |
Price (USD/lb) |
| Copper |
$5.56
-0.0053 (-0.09%)
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| Nickel |
$7.68
-0.0984 (-1.26%)
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| Zinc |
$1.38
-0.0270 (-1.93%)
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| Aluminium |
$1.47
+0.0095 (+0.65%)
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| Lead |
$0.86
-0.0008 (-0.1%)
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Prices updated as of 25 Mar 2026, 9:06 am AEST
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Today's Stories
Source: AFR
Fund managers are dumping mining stocks amid fears that mines will run out of fuel, leading to higher costs and potential operational shutdowns. The diesel shortage has created significant operational challenges across Australia's mining sector.
Source: MINING.COM
Bloomberg Intelligence warns that oil above $150 a barrel in a drawn-out conflict would slow global growth, push copper below $10,000 a tonne, and create a refined surplus of 100,000 to 200,000 tonnes. Under that scenario, earnings could fall around 20% at Southern Copper, 32% at Antofagasta, and as much as 55% at First Quantum, with high-cost producers facing the sharpest margin compression.
Source: Australian Financial Review
Fortescue chairman Andrew Forrest has hit back at BHP for opposing his push to cut the $10 billion diesel excise rebate, arguing the Iran war energy crisis strengthens the case for accelerating the shift to renewables in major resources projects including the Pilbara. Forrest rejected BHP's position that decarbonisation technology is not yet ready, sharpening an already tense divide between Fortescue and the major miners over the pace and cost of the energy transition.
Source: Mining.com.au
Australia and the EU have signed a long-awaited free trade agreement, concluded after eight years of negotiations, which removes tariffs on nearly all Australian critical minerals entering the EU. Prime Minister Albanese said the deal could add approximately A$10 billion annually to the Australian economy, while the Minerals Council of Australia described it as a major boost for critical minerals supply chains and investment confidence at a time of heightened geopolitical uncertainty.
Source: Bloomberg
Zijin Mining Group's lithium mine planned to open this year in the Democratic Republic of Congo will rank among the world's biggest lithium operations. The project represents a major expansion of global lithium supply capacity.
Source: AFR
Rio Tinto will receive $2 billion in taxpayer subsidies to secure the long-term future of its Boyne aluminium smelter in Queensland. The funding represents one of Australia's largest government subsidies to a mining operation.
Source: MINING.COM
Turkey's central bank is preparing to potentially tap its $135 billion gold reserves to defend the lira from Iran war-related volatility. The move highlights gold's strategic importance during geopolitical tensions.
Source: Financial Post
African export restrictions on crucial battery metals are dealing a blow to Chinese companies that have spent billions developing mines on the continent. The restrictions are reshaping global supply chains for critical minerals.
Source: Reuters
South Africa's gold output has fallen to 90 tons from its 1970 peak of 1,000 tons, with mineral exploration spending down 95% over two decades. Record gold prices are pushing producers to find new recovery methods that sidestep traditional deep underground mining.
Source: Bitget
Rio Tinto has begun a $500 million drilling campaign to explore 30% of the Resolution Copper deposit it previously could not access. The research will help determine the full scope of the Arizona project, expected to open by mid-2030s.
Source: Financial Post
A cyclone that menaced Australia's northeast coast now threatens to disrupt energy and mining operations in the west. The weather system poses risks to major LNG and iron ore facilities.
Source: MINING.COM
The world's biggest palladium producer aims to create 1.7 million ounces of new annual consumption for the metal. Nornickel is using artificial intelligence to identify new applications and markets for palladium.
Source: ConstructConnect Canada
Ontario is supporting 68 early mining exploration projects through the Ontario Junior Exploration Program. The initiative aims to boost mineral exploration activity across the province.
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