Mining companies in Queensland's North West Minerals Province are struggling to find workers as drilling ramps up and new jobs open. AIC Mines chairman Aaron Colleran said hiring has been difficult everywhere, including at its Eloise copper mine near Cloncurry. The Australian Resources and Energy Employer Association estimates the industry will need 24,000 new workers across the country by 2027. Queensland Resources Council figures point to competing skill needs and fewer young people entering trades and mining careers. Industry leaders say apprenticeships must grow to ease the shortage.
Many TikTok creators are posting videos of themselves stripping copper wire to sell as scrap. Copper prices have roughly doubled since 2020, and the trend has drawn creators from hobbyists and electricians to people saving for a home. Some earn far more from video views than from selling the metal. Others earn commissions by promoting wire strippers on TikTok Shop, where AI-generated ads are also common. Researchers say copper theft tends to rise when copper prices climb.
BHP shareholders will meet at Sydney Showgrounds on Thursday, the first annual meeting under chief executive Brandon Craig. The miner reported copper production of 400,000 tonnes in the September quarter, down 19 per cent from the June quarter and below analyst expectations. It blamed severe weather and a fatality at its Escondida mine in Chile. Sharesies Australia's Jacki Neumann said investors will want confidence in cost control and copper returns. Pacific Climate Warriors plan to protest outside the meeting against coal expansion projects.
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BHP shareholders will meet at Sydney Showgrounds on Thursday, the first annual meeting under chief executive Brandon Craig. The miner reported copper production of 400,000 tonnes in the September quarter, down 19 per cent from the June quarter and below analyst expectations. It blamed severe weather and a fatality at its Escondida mine in Chile. Sharesies Australia's Jacki Neumann said investors will want confidence in cost control and copper returns. Pacific Climate Warriors plan to protest outside the meeting against coal expansion projects.
The ASX 200 fell 28.80 points, or 0.33 per cent, to 8816.90 on Tuesday, after recovering from early falls of more than 1 per cent. Shares in BHP slumped 1.59 per cent after the miner reported copper output of 400,000 tonnes in the three months to September, 19 per cent lower than the previous quarter. National Australia Bank also fell 1.75 per cent after announcing 2500 job cuts to simplify its operating model. Technology stocks recovered, with WiseTech Global, Xero and Technology One all rising, while Commonwealth Bank edged up 0.14 per cent.
Australian shares fell on Tuesday, dragged lower by the big banks and major miners. The S&P/ASX200 index closed 28.8 points lower at 8816.9, after recovering from an early drop of as much as 98 points. BHP shares fell 1.6 per cent to $59.50 after its quarterly copper output dropped 19 per cent to around 400,000 tonnes, below analyst expectations. NAB shares fell 1.8 per cent after the bank announced plans to cut 2500 jobs over 2026/27. Ingenia Group rose 9.7 per cent after its takeover talks with Warburg Pincus were extended, and Cochlear gained 5.2 per cent.
KGL Resources Ltd has reached a final investment decision on its Jervois Copper Project, about 380 kilometres north-east of Alice Springs. The project is expected to create up to 350 construction jobs and up to 550 ongoing operational jobs. Civil works have started, and construction is expected to begin in early 2027. Local firms, including Northern Transportables, Black Cat Civil and MEC NT, have been awarded contracts. The mine is expected to produce about 30,000 tonnes of copper a year over an initial 10-year life.
Rio Tinto says it expects to release about $US5 billion, or $A7.2 billion, in capital by the end of 2026, supported by strong mine performance. Third-quarter iron ore sales from its Pilbara operations came in above market forecasts, reaching 85.7 million tonnes, up two per cent on a year earlier. The company has already released more than $US2 billion this year under an optimisation program aimed at higher-return growth projects. Copper output was broadly flat, with a rise at Oyu Tolgoi offsetting weaker output elsewhere.
Canadian company Eldorado Gold has inaugurated Greece's largest gold and copper mine at Skouries in northern Greece. Prime Minister Kyriakos Mitsotakis attended the ceremony and called the project one of the largest foreign productive investments in Greece in recent decades. Commercial production is expected to begin by the end of the year. Eldorado says the mine will create around 3,000 jobs and help meet growing global demand for copper. Dozens of protesters gathered nearby, and police blocked them from approaching the site. The company has invested around $2 billion and expects the mine to run for about 20 years.
