Carbon capture breakthrough: Australia opened its first carbon refinery, MYRTLE by MCi Carbon, capturing CO2 from Orica’s ammonia operations on Kooragang Island and turning it into products like glass and concrete, with a pathway to larger-scale capture. Rare earths push: Victory Metals launched its North Stanmore heavy rare earth pilot plant in Perth to optimise extraction and produce mixed rare earth samples for offtake partners, positioning WA for critical-minerals supply chains. LNG labour stability: INPEX confirmed an in-principle settlement ending protected industrial action at the Ichthys LNG site, with cargo loading restarting after union claims of major lost production. Grid and storage momentum: Australia approved a 4,800 MWh Red Gully battery project, while demand response trials are flagged as a route to add over 1GW of grid capacity. Policy and prices pressure: Commentary highlights that electricity prices aren’t falling as expected, and that solar and battery operators face rising friction from network charges and compliance rules. Geopolitics and energy markets: The US-Iran MOU to end the war is already easing oil fears and reopening the Strait of Hormuz, but analysts warn the global economy and energy flows may take months to normalise. Climate diplomacy: MIKTA’s Climate Dialogue 2026 in Qatar, backed by Australia, focused on accelerating climate action through international partnerships ahead of COP31.