1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Rio Tinto (ASX:RIO) posted a 43 per cent jump in underlying earnings for the first half as stronger commodity prices and higher production drove a sharp lift in profitability. Underlying earnings rose to $US6.85 billion ($9.82 billion) in the six months to June 30 compared to expectations for $6.78 billion. Underlying EBITDA climbed 28 per cent to $US14.8 billion and free cash flow surged 75 per cent to $US3.83 billion, helped by a 3 per cent increase in copper equivalent production.
Mineral Resources (ASX:MIN), saying it will meet guidance for all segment as it closes FY26. In the June quarter, it says it has reduced debt, and that lithium sales were up 15%. For the full financial year, mining volumes reached 341 million tones, ahead of the top end of guidance. Record volumes were also seen in lithium and iron ore, while capex came in at $1.1 billion, below guidance.
In gold - Northern Star Resources (ASX:NST) has appointed Suresh Vadnagra as Managing Director and Chief Executive Officer, effective 5 October 2026. On the operating front - The company's KCGM Mill Expansion Project has commenced Stage 1 commissioning on schedule. For the June quarter, Northern Star sold 433 kilos of gold at an all-in sustaining cost of $2,651 per ounce, generating net mine cash flow of $443 million.
And Coronado Global Resources (ASX:CRN) has returned to positive earnings in the June quarter after first quarter losses. Group Run-Of-Mine production increased 18.4 per cent to 6.4 million tonnes, while saleable production rose 39 per cent to 4.1 million tonnes. The company is progressing the sale of its Logan Complex, expected to close soon, which it says should eliminate future losses.
Elsewhere Nickel Industries (ASX:NIC) has flagged maiden production at its Excelsior Nickel Cobalt project. Nickel Industries says this is a milestone in its transition into the EV battery supply chain.
Fund manager Perpetual (ASX:PPT) has rejected a further revised $2.65 billion takeover proposal from private equity firm EQT, saying it does not reflect the value of the company or represent the best interests of shareholders. It said it would provide EQT limited non-public information and continue discussions in the hope of an improved bid on the current $22.50 per share offer. Meanwhile, Perpetual expects FY26 expense growth to come in at the lower end of its previous 1 per cent to 2 per cent guidance after favourable foreign exchange movements and ongoing cost discipline in the June quarter. Asset management funds under management rose 2.3% over the quarter to $224.4 billion on stronger markets, with net outflows of $12.3 billion.
