The Australian sharemarket ended the week slightly weaker, with the S&P/ASX 200 down around 0.3 per cent over the past five sessions. On Friday, the index slipped 6 points, or 0.1 per cent, to 8963.7 at midday. Risk-off sentiment dominated after Israel reached a ceasefire agreement with Hamas, easing fears over Middle East oil flows and triggering a pullback in both crude and gold. West Texas Intermediate dropped below US$62 a barrel, while bullion eased 1.6 per cent to just under US$3980 an ounce. Locally, Woodside fell 1.4 per cent, Beach Energy lost 2.4 per cent and Santos edged down 0.8 per cent. Gold producers suffered sharp losses, with Northern Star off 3.3 per cent and Ramelius down nearly 5 per cent. Iron ore miners also weighed on the index after reports of a prolonged price dispute between BHP and China’s state-run buyer, sending BHP 1.7 per cent lower, Rio Tinto down 2 per cent and Fortescue off 1.4 per cent.
That capped a volatile week. On Thursday, copper miners led gains as the red metal touched a 14-month high, lifting Sandfire Resources more than 5 per cent and pushing the broader index up 0.3 per cent. Rare earth stocks also shone, with Lynas climbing on a new US supply deal and Brazilian Rare Earths hitting record highs after a French partnership announcement.
Wednesday brought a softer close as retailers and tech names slid, while investors took profits from gold miners despite bullion briefly topping US$4000 an ounce. Healthcare provided support, led by Mesoblast, which surged more than 9 per cent on strong US sales for its Ryoncil therapy.
Earlier in the week, Monday and Tuesday saw mixed trade. Consumer and communication services stocks weighed, with Breville tumbling and REA Group retreating, while copper miners and energy producers found support from stronger commodity prices.
In Friday’s company news,
Nova Minerals secures Alaska site for US-focused antimony refinery
Nova Minerals (ASX:NVA, NASDAQ:NVA) has secured land use rights at Port MacKenzie, Alaska, for its proposed antimony refinery. Backed by a US$43.4 million Department of War award, the facility will target first production of military-spec antimony within 24 months, aiming to position Nova as a critical supplier to the US defense and industrial markets. The site offers deep-water access, infrastructure, and government support. The company also flagged potential offtake partnerships, including with Adelong Gold in Australia. CEO Christopher Gerteisen called the step “defining” for US mineral independence.
Battery Age wins drilling approval for high-grade El Aguila project in Argentina
Battery Age Minerals (ASX:BM8) has secured its maiden drilling permit for the high-grade El Aguila gold–silver project in Santa Cruz, Argentina. The program, set to begin in November, will target resource definition and discovery growth across multiple quartz–sulphide veins where surface assays reached up to 174.6 g/t gold and 4,739 g/t silver. The approval follows environmental review and highlights strong provincial support. Preparations are complete, with contractors, assay services, and infrastructure ready. CEO Nigel Broomham said El Aguila complements Battery Age’s Austrian germanium project, strengthening its diversified growth across critical and precious metals.
North Stawell uncovers 315 g/t grab sample at Darlington project
North Stawell Minerals (ASX:NSM) announced high-grade grab samples and new soil geochemistry from its Darlington project in Victoria, where drilling previously returned 2.3m at 29.3 g/t gold. Waste-dump grab samples returned assays up to 315 g/t gold with strong arsenic anomalies, supporting the prospectivity of the Darlington–Caledonia trend. Soil test-lines correlated surface anomalies with known mineralisation, providing a roadmap for expanded surveys and drilling. CEO Campbell Olsen said Darlington remains the company’s key exploration focus into 2026.
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