The Australian sharemarket dropped significantly after US President Donald Trump announced 25 per cent tariffs on all steel and aluminium imports, potentially affecting Australia. The ASX fell by 0.65 per cent in response to the news, with major steel companies like BlueScope seeing stock price fluctuations. Trump’s decision could impact Australian manufacturers and supply chains, leading to increased pressure and challenges in staying competitive in the global market.
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Rio Tinto wins State environmental approval for West Angelas
WA's environmental adjudicator has approved Rio Tinto's expansion of the West Angelas iron ore mine, ensuring continued production for 25 years while implementing protective measures for the adjacent Karijini National Park. The project is part of a $20 billion investment to replace ageing operations in the Pilbara, with mining expected to begin pending further state and federal approvals. Explain It To Me Like I'm 5: Rio Tinto got permission to open new iron ore mines...
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