General Motors will invest up to $69 million and take an equity stake in Queensland Pacific Metals.

Zinc smelter closures in Europe have grabbed the recent headlines but lead supply has also been taking a growing number of supply hits.

The deal marks a further move by the world's fourth largest carmaker to lock down supplies of metals needed for batteries that power EV cars.

"This is a blow to major polluters in the mining and resources sectors," the Australian Financial Review said.

BHP is seeking approval from Australia’s government to extend the life of the Peak Downs mine.

World’s 50 biggest mining companies have shed $627 billion since hitting highs in March this year even as investors pile into the best performing sectors.

Iron is the fourth most abundant element on the planet after oxygen, silicon, and aluminum.

Australia expects a boost to its commodity export earnings caused by Russia’s invasion of Ukraine to last into 2024.