Australia Breaking News

Celsius Resources (ASX:CLA) announced its first JORC-compliant ore reserve estimate for the Maalinao-Caigutan-Biyog Copper-Gold Project in the Philippines, operated through its affiliate Makilala Mining.

The maiden reserve defines 130.2 million tonnes of underground ore grading 0.66% copper and 0.21 g/t gold, containing approximately 856,000 tonnes of copper and 891,000 ounces of gold at a 0.84% copper-equivalent grade.

AI-enabled pharmaceutical company Algorae Pharmaceuticals (ASX:1AI) has received the comprehensive in silico synergy predictions generated by its AlgoraeOS v2 platform, covering over 500,000 potential combinations of cannabidiol with more than 3,000 approved and investigational drugs across 170 cell lines.

4DMedical (ASX:4DX) has secured $30.2 million in funding by entering an underwriting agreement with Bell Potter Securities, ensuring the full exercise of its 4DXO listed options. 

Under the agreement, any unexercised options at expiry will be subscribed by the underwriter, guaranteeing the total funding amount.

Singapore-based Sembcorp Industries has announced a landmark agreement to acquire Australian energy company Alinta Energy in a transaction valued at $6.5 billion, including debt.

The deal positions Sembcorp at the forefront of Australia's evolving power sector, marking one of the most significant energy takeovers in recent years.

Australia's Treasurer Jim Chalmers has approved Hanwha's bid to lift its shareholding in Australian shipbuilder Austal (ASX:ASB) from 9.9% to 19.9%, concluding an eight-month Foreign Investment Review Board assessment.

Chalmers said the decision followed "long and careful deliberation" and extensive consultation, noting it took into account economic, national security and broader national-interest considerations.

National Australia Bank (ASX:NAB) executives faced intense scrutiny at the company's annual general meeting over their handling of widespread employee underpayments

A former employee told the meeting she had been underpaid and repeatedly raised concerns.

Venus Metals (ASX:VMC) announced that a subsidiary of IGO (ASX:IGO) has elected to proceed with Stage 2 of its farm-in at the Bridgetown-Greenbushes Exploration Project in Western Australia, committing $3 million to further exploration under the existing joint venture agreement with VMC's subsidiary.

The federal government has warned it will redirect a $23 billion hospital funding boost toward its own health priorities if states refuse the offer, amid escalating tensions over the National Disability Insurance Scheme and rising healthcare costs.

Prime Minister Anthony Albanese criticised Queensland Health Minister Tim Nicholls for publicly labeling the funding offer inadequate, saying the disclosure undermined efforts to negotiate in good faith.

US-based internet forum Reddit has filed a High Court challenge against Austraila's recent social media ban for users under 16, citing "serious privacy and political expression issues for everyone on the internet," a company spokesperson said.

In court filings lodged on Dec. 12, Reddit argues the ban infringes the country's implied freedom of political communication, restricting children from engaging in online political discourse—a factor that, the company contends, informs the views of parents, teachers, and future voters.

Oil rallied from its lowest close in almost two months, buoyed by bullishness in broader financial markets. Meanwhile the International Energy Agency trimmed its estimates for a global oil supply surplus this year and next for the first time in several months. This as demand strengthens and output growth slows. Sara Vakhshouri, President & Founder of SVB Energy International told Bloomberg's Jennifer Zabasajja on Horizons Middle East and Africa, the IEA is now closing the gap with OPEC on its demand forecast.

Prime Minister Anthony Albanese has announced a deal aimed at securing the future of the Tomago aluminium smelter in the Hunter region, assuring that roughly 1,000 jobs will be preserved.

The agreement, reached with the facility's board, will link the smelter to renewable energy sources, helping to reduce electricity costs and extend its operations beyond the previously threatened 2028 closure.

IndiGo's worst crisis in two decades triggered the cancellation of more than 2,000 flights last week, stranding tens of thousands of passengers nationwide. With IndiGo controlling about 65% of the domestic market, the chaos has exposed deep cracks in Indian aviation and prompted government intervention to restore order. Former Indian Director General of Civil Aviation, M R Sivaraman, shared his thoughts on the issue on Bloomberg's Insight with Haslinda Amin.