On 26 June 2025, ASX introduced a new close review procedure to be used when ASX has serious concerns about an entity’s willingness or ability to comply with ASX’s disclosure-related listing rules.

Under the procedure, ASX will apply additional scrutiny to an entity’s market announcements for a period of 6 months where that entity has seriously and repeatedly fallen short of the disclosure standards required of a listed entity. If ASX decides to initiate a close review period, following notification to and review of any submissions made by the entity, the commencement of the period will be announced to the market by ASX.

ASX will expect the entity to take appropriate steps to improve its disclosure practices during the close review period. If an entity remains subject to the close review procedure for a prolonged period of more than 12 months, ASX is likely to require the entity to ‘show cause’ why it should not be removed from the official list.

ASX’s normal processes for releasing market announcements are outlined in Guidance Note 14. Typically, the Market Announcements Office undertakes a high-level review of any announcement received, given the need for prompt release of market sensitive information.

The greater scrutiny of any announcement during a close review period will inevitably delay the release of the entity’s announcements to the market and the entity will need to make due allowance for this in its planning. In the case of a market sensitive announcement, this will require the entity to request a trading halt pending the completion of ASX’s review.

For further information.

The Mining Amendment Act 2022 (WA) introduced several initiatives to streamline and modernise the mining approvals process and which the Department has now rolled out. This rollout represents a major step forward under the Department’s Fast-Tracking Mining Approvals Strategy.
Key initiatives include:

• the Eligible Mining Activity (EMA) Framework under the EMA Regulations. This is designed to streamline approvals for low-risk mining activities;
• the Mining Development and Closure Proposals (MDCPs) Framework. MDCPs replace the requirement to provide a Mining Proposal and Mine Closure Plan at the project approval stage, reducing duplication and resulting in streamlined decision-making. Prior to undertaking any activity in connection with carrying out mining operations on a tenement, the activities must be included in a MDCP approved under section 103O(1) of the Mining Act and recorded on an Approvals Statement;
• the Approvals Statement Framework. Approvals Statements will serve as a single source for all approved mining activities across tenements.

The legislative reforms generating the most attention in recent weeks have been the reforms to the Environment Protection and Biodiversity Conservation Act 1999 (Cth) (EPBC Act) which the Government introduced into Parliament on 30 October 2025. The reforms comprised a series of 7 bills (the EP Reform Bills) which were finally passed by the Australian Government on Friday 28 November 2025.

The Government states that the reforms seek to deliver on 3 key pillars: stronger environmental protection and restoration, more efficient and robust project assessments and greater accountability and transparency in decision making.

The EP Reform Bills were passed as a result of successful negotiations between the Minister for the Environment Murray and the Greens on the last sitting day of Parliament before the Christmas break. The Greens were seeking a climate trigger together with stricter regulations for native forest logging and fossil fuel projects. Minister Watt conceded on the latter but refused to include a climate trigger. The proposed climate trigger would have added climate change as a “matter of national environmental significance”, meaning projects with significant greenhouse gas emissions would require assessment and could potentially be blocked by the Minister.

New rules will make it clear when the new laws will take effect. Transition arrangements provide that existing projects that have not received a final decision when the laws take effect will still be assessed under the current EPBC Act. This includes projects being looked at by states and territories under current agreements. New projects that haven’t been referred yet will need to comply under the new laws. This includes the National Environmental Standards.

The next steps involve the establishment of the National Environmental Protection Agency and finalising details of the subordinate legislation, including the National Environmental Standards and regulations. National Environmental Standards have been developed for Matters of National Environmental Significance (MNES) and for Environmental Offsets and drafts of these documents are open for public consultation until 30 January 2026.

In the landmark decision in Shire of Mount Magnet v Atlantic Vanadium Pty Ltd [2025] WASC 274, the Supreme Court held that occupied Crown Land the subject of a miscellaneous licence issued under the Mining Act 1978 (WA) is ratable under section 6.26 of the Local Government Act 1995 (WA).

That decision created uncertainty across the resources industry by opening up the possibility that mining companies could be charged rates on land held under miscellaneous licences that had long been understood to be exempt (such as for rail, pipelines, roads, FIFO accommodation). This interpretation would have cost the mining and exploration sector an estimated $50 million plus per annum.

On 13 November 2025, the Legislative Assembly passed the above Bill to clarify that land held under miscellaneous licences cannot be subject to local government rates. The Bill is currently in the Second Reading stage in the Legislative Council.

The Bill establishes a refund mechanism for any rates, interest, or charges that have been imposed and paid to date on these licences.

The new State Development Bill 2025 was introduced into the WA Parliament on 10 September 2025 and had its second reading in the Legislative Council on 16 October 2025.

The purpose of the Bill is primarily ”to establish and make provision for the office of Coordinator General; and to provide a framework for the coordination, facilitation and promotion of development and activities of strategic or economic significance to the State”. The Government says the proposed legislation will “unlock strategic precincts, fast-track approvals for major strategic projects around the State and maintain Western Australia as the strongest economy in the nation”.

Under the legislation, the Premier will have powers to declare Priority Projects and State Development Areas. This will be supported by the Coordinator General, who will be delegated statutory powers to accelerate and oversee regulatory processes and industrial land activation, enabling the State to respond rapidly to emerging opportunities and reduce duplication. The Government media releases refer to large-scale critical minerals, renewable energy, energy transition (green iron), naval shipbuilding and multi-user infrastructure projects. However, the scope of the proposed legislation allows for smaller projects to be designated, if the Minister for State Development and the Premier are satisfied as to the project’s significance.

A key concern is that the Bill places a significant level of discretion in the hands of the State Development Minister and the Premier (currently the same person).

The Environmental Defenders Office is also concerned that, as well as centralising too much power in the executive arm of government, the Bill creates serious risks of undermining the intended operation of WA laws and ultimately harming the environmental and community/cultural values of WA.

Unusually, the Bill is not made subject to the Environmental Protection Act 1986 (WA) in the event of inconsistency.

The Law Society has made a submission to Roger Cook as the Premier and Minister for State Development setting out the Law Society’s concerns in regard to the Bill. The submission can be read here.

This matter concerned a judicial review of the recommendation made by the Warden under s 98(4A) of the Mining Act 1978 (WA) that 10 mining leases held by the applicant Wingstar Investments Pty Ltd be forfeited.

The other party, Mr. Van Blitterswyk, had lodged forfeiture applications in respect of the 10 mining leases, claiming that Wingstar did not meet minimum expenditure requirements on the leases. The Warden concluded that Wingstar failed to comply with expenditure conditions, leading to the recommendation for forfeiture.

Wingstar’s application for judicial review claimed jurisdictional errors in the Warden’s interpretation of expenditure regulations and in particular that the Warden allegedly misconstrued regulation 31 by requiring an assessment of the reasonableness of proposed mining plans.

In its decision handed down on 13 November 2025, the Court allowed the application for judicial review, concluding that the Warden had misconceived the nature of her statutory function or the extent of her powers. The Warden’s misconstruction of regulation 31 warranted a re-evaluation of the expenditure claims. The decision includes an analysis of the legal principles of judicial review, the construction of regulation 31 and the materiality of the Warden’s error.

On the topical issue of whether the expenditure in question comprised expenditure “on or in connection with mining” on the tenement, the Court declined to undertake the assessment, noting that this was the function of the Warden.

On 20 October 2025, the United States and Australia signed the United States – Australia Framework For Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths (the Framework). The non-binding Framework will deliver a US/Australia secured supply chain for critical minerals and rare earths, required for defence and other advanced technologies, through coordinated investment and policy tools.

As announced, the US and Australia will take measures to each provide at least USD$1 billion in investments towards a USD$8.5 billion pipeline of priority critical minerals projects in Australia and the United States over the next six months.

The Australian Government has made financial commitments to two of those priority projects, being the Alcoa-Sojitz Gallium Recovery Project in Wagerup, Western Australia and the Arafura Nolans Project in the Northern Territory.

The Alcoa gallium project, a trilateral project with Japan, the United States and Australia, is forecast to provide up to 10 per cent of total global gallium supply. Gallium is an essential input for defence and semiconductor manufacturing. Once operational, the Arafura Nolans project is expected to produce 5 per cent of global rare earths, essential for energy security and defence.

In September 2025, the Australian Government announced a A$1.1 billion investment in supporting the future Australian production of low carbon liquid fuels (LCLF). The new ten-year Cleaner Fuels Program aims to stimulate private investment in Australian onshore production of LCLFs, such as renewable diesel and sustainable aviation fuel, with first production estimated by 2029.

LCLFs are produced from feedstocks such as canola, sorghum, sugar and waste. With its advanced farming practices and access to cheap and reliable renewable energy, Australia is well positioned to produce LCLFs that jets, ships, construction machines and heavy trucks need to reach net zero. The Clean Energy Funding Corporation predicts that the production of LCLF could be a A$36 billion market opportunity for Australia.

The Government has now released a Policy Design and Engagement Paper for its Cleaner Fuels Program which is open for submissions until 19 December 2025. The Program is expected to be launched and applications open in mid-202

The annual RIU Explorers Conference was held in Fremantle in February 2026. The conference highlighted a highly optimistic exploration environment driven by record gold prices above US $5,000/oz and strong copper markets.

More than 130 ASX-listed companies presented updates across gold, copper, manganese, uranium, and critical mineral portfolios, reflecting strong operational momentum across the junior and emerging-producer segments. Attendance from brokers, funds and institutional investors was notably high, signalling strong capital interest in early stage exploration companies. RIU is one of the most important national forums for capital raising in the exploration sector.

A major theme was the emergence of a potential multiyear commodities super cycle, underpinned by AI driven energy demand, electrification, geopolitical instability, and declining discovery rates.

Critical minerals—including rare earths, nickel, lithium, and tin—also drew strong attention due to supply constraints and technologysector demand
Operationally, companies emphasised tight cost control, integrated geological, operational, and financial data systems, and transparent ESG reporting as investor expectations around credible, auditable ESG reporting continue to rise.

In summary, the conference reflected a sector positioned for growth, with high investor interest, strong commodity fundamentals, and increasing strategic focus on critical minerals and datadriven decisionmaking.

Australian-owned renewable energy company Tilt Renewables announced reaching a Final Investment Decision in December 2025 for its 108 MW Waddi Wind Farm in the West Australian wheat belt, 150km north of Perth.

This is the Company’s first renewable energy project in WA and the first wind farm to reach FID in 2025. The project has a 15 year supply contract with AGL and the Company says that once constructed, the energy generation from the Wind Farm will be equivalent to powering around 68,000 West Australian homes per year with clean electricity.

Construction is expected to commence shortly with the Company targeting commercial production in 2028.