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RBA Michele Bullock has cautioned that a potential oil price shock stemming from the conflict in Iran could exacerbate local inflationary pressures.

Breakwave Tanker Shipping ETF (ticker: BWET) is soaring in Monday's trading session. Rising oil-shipping costs amid the conflict in Iran is driving the rally. The ETF is currently the world's best-performing non-leveraged ETF with year-to-date returns nearing 200%. On "Bloomberg ETF IQ," Katie Greifeld and Eric Balchunas report.

Rio Tinto (ASX:RIO) has authorised the restart of the US$473 million Zulti South Mineral Sands Project in South Africa.

Patriot Resources (ASX:PAT) announced the acquisition of a 100% interest in the Tassa Silver-Gold Project, located in southern Peru.

Noronex (ASX:NRX) commenced an extensive ground gravity survey at its Cgae Cgae Copper-Silver Project in Botswana.

Minbos Resources (ASX:MNB) signed a US$16 million debt facility agreement with the Industrial Development Corporation of South Africa.

Findi (ASX:FND) has received binding commitments for a $25 million institutional placement to sophisticated and institutional investors.

Metal Powder Works (ASX:MPW) announced a strategic partnership with CenterLine (Windsor) to develop advanced metal powder materials.

Australian and NZ dollars saw sharp volatility early March 2, plunging on Middle East conflict fears before recovering most losses as markets stabilised.

Megado Minerals (ASX:MEG) secured a five-year option to acquire the expansive 576km2 Alpartir Silver-Copper-Antimony Project.

Resolution Minerals (ASX:RML) has completed its acquisition of the Johnson Creek Tungsten & Antimony Mill.

Avecho Biotechnology (ASX:AVE) completed patient recruitment for Phase 3 insomnia trial interim analysis.