-3.25% - Elders Ltd (ELD.AX)
Forex: USD thrown overboard again
The dollar was thrown overboard again with the revival of a risk-on appetite, sending the US dollar index
(DXY) back near this week’s lows. A break beneath 89.68 assumes bearish trend continuation and marks 90.29 as a new lower high.
EUR/USD rallied back above 1.2220 but failed to retest it highs. Whilst momentum is pointing higher, we are monitoring its potential to form a bearish wedge reversal pattern. Early days though.
The Canadian dollar was stronger on comments from BOC (Bank of Canada) Governor Tiff Macklem saying there is room for interest rates to go up and his acknowledgement of the overheating housing market.
Australia seeks boost in minerals supply chain
Bloomberg
Australia wants to leverage its position as a top mineral producer by boosting processing and manufacturing, part of a plan to challenge China’s dominance in the supply of products key to a clean-energy transition.
The Australian government yesterday unveiled a 10-year road map that includes A$1.3 billion (US$1 billion) of funding to help businesses capitalize on the country’s abundant natural resources and exploit opportunities in a de-carbonizing world.
It encourages growth in high-value products such as batteries and solar cells, as well as technologies and equipment that make mining safer and more efficient.
Mining Engineering Online smenet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smenet.org Daily Mail and Mail on Sunday newspapers.
Australia s Iluka Resources eyes downstream processing of rare earths Reuters 24/02/2021
(Reuters) - Australian mineral sands explorer Iluka Resources Ltd said on Thursday that it is actively exploring the potential for downstream processing of rare earths in Australia.
The Perth-based company indicated that the endeavour could be the Phase 3 development of its Eneabba operation in Western Australia, adding that it has commenced a feasibility study for a fully integrated rare earths refinery.
Iluka s Eneabba operation is one of its main rare earths undertakings with the commissioning for Phase 2 of the project scheduled for the first half of 2022.
Rare earth elements are used in a wide range of consumer products, from iPhones to electric car motors, as well as military jet engines, satellites and lasers.