Australian shares are lower in late morning trade, with the S&P/ASX 200 down 0.79% to 8878.4 at 11.15am AEST, as ongoing uncertainty around US–Iran tensions and the continued closure of the Strait of Hormuz weigh on sentiment. This comes despite an extension of the ceasefire, with investors focused on the lack of progress toward renewed talks. Oil prices are higher, with Brent crude near US$98 a barrel.
Across the sectors, healthcare is the weakest following a sharp downgrade from Cochlear, while financials are also lower. Energy stocks are stronger on higher oil prices. In company news, Bank of Queensland reports weaker earnings, Treasury Wine surges on restructuring plans, and BHP lifts production expectations, while broader materials stocks are mixed.
In other company news,
Chilwa accelerates drilling as Mpyupyu discovery expands
Chilwa Minerals (ASX: CHW) mobilised a second diamond drill rig to its Mpyupyu target in Malawi, accelerating exploration following a recent niobium and rare earth discovery. Around 1,050 metres of drilling has been completed, with further assay results expected in the coming weeks.
The discovery has expanded the company’s understanding of a multi-commodity system, including rare earths, niobium, tantalum and gallium, with drilling targeting extensions within the Mpyupyu Alkaline Complex and proximity to existing resource areas.
Ema resource grows to over 1Bt, advancing global rare earth scale
Brazilian Critical Minerals (ASX: BCM) reported a significant upgrade to its Ema rare earth project, with the Mineral Resource increasing to 1.07 billion tonnes at 732ppm TREO. The Indicated Resource rose 58% to 392Mt, improving confidence and supporting progression toward a Bankable Feasibility Study.
The project is emerging as one of the largest ionic clay rare earth deposits globally and the only ISR-ready project of its kind in the western world, with near-surface mineralisation and potential for low-cost, scalable production.
Battery Age joins U.S. defence consortium, advancing germanium strategy
Battery Age Minerals (ASX: BM8) was accepted into the U.S. Defense Industrial Base Consortium, providing access to defence-linked funding pathways and supply chain initiatives. The move supports its strategy to develop an integrated germanium platform across exploration and downstream applications.Germanium remains a critical mineral for defence and semiconductor applications, with China controlling a significant portion of global supply, positioning Battery Age within a strategically important segment of the critical minerals market.
