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Market Chatter: Western Australia Government Calls on Miners to Honor Decarbonization Commitments

MT Newswires Live08:40

The Western Australian government is urging big mining firms to make good on their decarbonization pledges and support the state's complicated green energy transition, the Australian Financial Review reported late Wednesday.

State Energy Minister Amber-Jade Sanderson said in an interview with the publication that the government wants mining firms to coordinate the development of shared infrastructure to help advance the shift to green energy.

For years, miners have built rail lines and power grids in the state's Pilbara region for their own exclusive use, while BHP Group (ASX:BHP) and Rio Tinto Group (ASX:RIO) have also made cuts to their green spending initiatives, according to the report.

Shares of BHP fell 2% in recent Thursday trade, while Rio gained 1%. The two companies did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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