The Origin share price fell around 9% today after announcing its price review outcome and update on FY21 guidance.
The energy business has been engaged in a price review for gas purchased from
Beach Energy Ltd’s(ASX: BPT) Otway Basin fields, which was referred to arbitration.
Origin said that the arbitrator has now issued a partial award and on the basis of that decision the new gas price is likely to be materially above Origin’s expectations and recent comparable wholesale contracts. The outcome is expected to result in an increase in Origin’s cost of supply of $30 million to $40 million for FY21, increasing further to $60 million to $80 million in FY22 consistent with an expected increase in volume.
New Zealand King Salmon (ASX:NZK) share price steady despite loss fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
Rio Tinto probes new iron ore port fire
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Rio Tinto has launched an investigation after its West Australian iron ore ports were hit by a third fire in the space of 26 months.
The latest fire occurred on Friday within a section of the sprawling port complex the miner operates near the town of Dampier.
Following the blaze at the Cape Lambert export operations, Rio was unable to supply some of its iron ore customers.Â
Bloomberg
âRio Tinto confirms that a small fire broke out on Friday evening in a screenhouse at our East Intercourse Island port operation in the Pilbara,â said a Rio spokesman on Sunday.
Challenger to Traditional Mining Models
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As the modern mining leader, our experience is that this is not a one-time activity, but a continual process of building global traceability while keeping business units focused on their operations. As legacy miners look to develop their companies to meet future growth opportunities, management teams must plot a cour
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