Category: 3. Business

Port Pirie, Australia, 17 February 2026 – International producer of critical and strategic metals Nyrstar, today announced the first shipment of Australian‑produced commercial-grade Antimony metal from its Port Pirie multi‑metals facility, marking a milestone in the nation’s efforts to build and strengthen mine-to-metal supply chains for critical minerals.

This inaugural shipment from the Demonstration Plant marks an important step in establishing an independent and sovereign supply of Antimony metal from Australia, a critical metal used in defence, semiconductors, energy and automotive industries globally. The first shipment will be used by an Australian domestic manufacturer on the east coast of Australia with future shipments destined for export to customers in Europe, Asia or the US, supporting a more diverse and resilient supply chain for strategic materials.

This new product has been enabled by rapid construction and commissioning of Nyrstar’s Antimony pilot and demonstration plants, allowing Australia to produce Antimony metal from a wide range of local and global concentrates, leveraging Port Pirie’s existing multi-metals processing infrastructure and capabilities.

The accelerated delivery of Nyrstar’s Antimony demonstration plant was supported by the Australian and South Australian Governments, ensuring the first batches of Antimony metal could be produced and shipped well ahead of schedule.

Darin Cooper, Nyrstar Port Pirie General Manager, said today’s milestone highlights the strategic role Port Pirie and Australia can play in helping global markets with an alternative, reliable and transparent supply of critical minerals.

“The first shipment of Antimony metal from Port Pirie demonstrates the importance of investing in nationally strategic smelters. Mining alone doesn’t create supply chain security – it’s the smelting, refining and conversion into critical metals that ensures Australia can play a strategic role for itself and its allies,” Mr Cooper said.

“Antimony metal is essential for modern societies, and global customers have been increasingly seeking secure supply from trusted sources. Nyrstar at Port Pirie is responding to the challenge, demonstrating that mine-to-metals capability in Australia is possible, and with the support of government can be delivered at speed and scale.” Mr Cooper said.

As Australia’s only lead refiner, Nyrstar’s Port Pirie multi-metals facility will have the potential capacity to produce up to 5,000 tonnes of Antimony metal per annum, representing approximately 15% of the global market and the equivalent of nearly 100% of US imports in 2023. Nyrstar will continue to work closely with Federal and State Governments and commercial partners to secure support for this potential expansion and modernisation of its Australian assets.

Nyrstar’s production of Antimony at Port Pirie was identified last year in the pipeline of critical minerals projects as part of the US–Australia Critical Minerals Framework, and Antimony is a priority mineral for the Australian Government’s Strategic Reserve. Antimony is recognised as a key metal at risk requiring urgent new supply pathways and Nyrstar is also in discussions with organisations across Japan, Europe and the United States on formal offtake partnerships for long‑term supply.

In addition to Antimony production, with government support Nyrstar is also exploring the potential to produce Bismuth and Tellurium at Port Pirie, as well as Germanium at its Hobart Zinc Works.

Scotland’s public services are facing a productivity crisis, not just a funding crisis. While the 2026/27 Scottish Budget and Spending Review underline the need for efficiency, the route to achieving it is no longer just about cutting costs, it is about releasing capacity.

Across health, education, local government and justice, many of Scotland’s most highly-trained professionals are spending too much of their week on routine administrative tasks such as documentation, record keeping, correspondence and processing rather than the complex, human work that only people can do.

That is why Storm ID has undertaken and published new research in “Automate tasks, not jobs: The AI opportunity for Scotland’s public services”. Our conclusion is straightforward – AI is now mature enough to reduce administrative drag at a meaningful scale and that makes it a practical lever for public service reform not just a futuristic concept that is happening elsewhere.

Capacity release means time back, not just cash savings

Public debate about “efficiency” often focuses narrowly on cash savings, but in public services, the true currency of value is time. Capacity release means returning hours to frontline teams. The goal is not to replace people, but to strip away the administrative drag that causes burnout and backlogs. By automating, the routine would allow, for example, justice professionals to focus on complex casework, healthcare professionals to focus on care, and give teachers more time in the classroom.

62 million hours is the size of the prize

We analysed 50 high-volume Scottish public services where AI-enabled redesign could credibly reduce administrative burden. The potential is huge.

Our modelling suggests that by 2030, AI adoption could release between 16.6 million (conservative) and 62.1 million (optimistic) hours of capacity annually.

To put that in perspective, the moderate scenario (36m hours) represents a 20% release of total capacity across the workflows assessed. Two main sectors stand out in the analysis:

• NHS Scotland: The single largest opportunity lies in clinical documentation. This accounts for 68.2 million baseline hours. Reducing this burden isn’t about automating judgment, it’s about freeing clinicians from data entry so they can spend more time with patients.
• Education: The “always on” administrative workload of planning, resource creation and data entry is competing with pupil time. AI offers a way to reset this balance.

Scale through patterns, not pilots

While public services vary enormously in mission we found that many of their underlying workflows are very similar. Our analysis of the 50 services highlights that a lot of staff time clusters into just a few repeatable patterns, including case management, application processing, decision making and knowledge-intensive documentation.

This insight offers a clear path forward. Scotland does not need 50 bespoke AI tools with 50 separate assurance regimes. The faster and safer route is to build reusable, configurable components that solve these common problems once. By integrating a suite of trusted, shared tools into existing systems we could eliminate duplication of effort and accelerate adoption at scale.

What policymakers need to do next

Turning potential into capacity by 2030 is a leadership agenda as much as a technology one. The paper identifies five key areas of focus:

1. Start with high-volume, lower-risk services to demonstrate value quickly and build institutional capability.
2. Invest in shared components that can be configured locally, rather than reinvented repeatedly.
3. Around half of the services we analysed involve sensitive data (clinical and justice). These require Private AI models running on sovereign infrastructure, not just use of public cloud wrappers from hyperscalers such as AWS and Azure.
4. Scaling requires clear accountability, audit trails, testing and monitoring, cyber controls and defined human oversight consistent with Scotland’s commitment to trustworthy and inclusive AI.
5. Staff engagement in redesign, training and continuous improvement is essential so that time saved becomes better outcomes, not just absorbed by unmanaged demand. Redesign must be done with the workforce, not to them.

The cost of inaction

Unless we systematically reduce administrative burden, rising demand will outpace capacity no matter how committed the workforce may be.

The message for policymakers is simple. AI is a practical, immediate lever for the productivity step-change Scotland requires. We must choose to govern it well, scale it deliberately and use it to return time to the work that only people can do.

Paul McGinness is Founder and Chair of Storm ID

Key stat: McDonald’s leads all US food and grocery sites and apps with 57 million unique visitors, outpacing DoorDash (52.8 million) and nearly doubling the top traditional grocer Kroger (31.3 million), according to November 2025 data from Comscore.

Beyond the chart:

• Digital deals are a key traffic driver. 64% of grocery shoppers used digital discounts or cash back promotions in the last month, according to Ibotta, helping explain why food brands with strong app-based deals are pulling consumers online.
• Meanwhile, value-seeking is pushing more diners onto QSR apps. 44% of lower-income US fast-food consumers have curbed eating out, according to YouGov, making mobile order deals and loyalty rewards a critical tool for chains to recapture traffic.

Use this chart: Drop this in your next digital strategy deck to challenge the assumption that grocery and delivery apps own food commerce traffic. Use McDonald’s 57 million visitor lead to benchmark your brand’s digital reach against QSR leaders. Show this to teams planning food and grocery partnerships.

Related EMARKETER reports:

We prepared this article with the assistance of generative AI tools and stand behind its accuracy, quality, and originality.

Gas company Santos has successfully defended a landmark greenwashing case in which it was accused of making misleading claims about its net zero plans and being a producer of “clean” energy.

In a blow for climate activists, the federal court on Tuesday dismissed the case brought by the shareholder advocacy group the Australasian Centre for Corporate Responsibility (ACCR).

The ACCR, represented by the Environmental Defenders Office, alleged the gas company breached the Corporations Act by engaging in misleading or deceptive conduct in its 2020 annual report, an investor briefing and a 2021 climate change report.

Central to these allegations were three key claims by Santos: that it was a producer of “clean energy” and natural gas was a “clean fuel”; that hydrogen it produced with carbon capture and storage was “zero emissions hydrogen” and “clean hydrogen”; and that it had a clear and credible pathway to net zero by 2040.

Santos argued ACCR’s case ignored years of its work in the lead-up to its 2020 investor briefing and annual report, and its 2021 climate change report.

Sign up to get climate and environment editor Adam Morton’s Clear Air column as a free newsletter

It told the court its climate targets – to reduce emissions by 26% to 30% by 2030 and reach net zero emissions by 2040 – represented a statement of “present intention” and “not a promise or prediction”.

Justice Brigitte Markovic dismissed ACCR’s case in a brief hearing on Tuesday, and ordered the organisation to pay Santos’s costs. The reasons for the decision will be published on 23 February.

The case, heard over 13 days in 2024, was a test for how courts assess statements made by companies about how they are managing the net zero transition.

The ACCR holds shares in fossil fuel companies, such as Santos, to try to force them to meet the goals of the Paris climate agreement.

Brynn O’Brien, the co-chief executive of the ACCR, said the organisation was disappointed and would now consider the “complex” judgment and its more than 250 pages of reasons.

“This was a landmark case that paved the way for others around the world to challenge corporate net zero claims in court,” she said.

“It has been a David versus Goliath battle, and Goliath won this round.

“While the court found that Santos’s conduct was insufficient to breach the law, the case has shone a powerful spotlight on how Santos’s plans were developed and used to secure market advantage.”

O’Brien said the case was about “standing up for market integrity and ensuring that investors are given all the information necessary to confidently assess emissions targets and net zero plans” – and was not aimed at “punishing climate ambition”.

Comment has been sought from Santos.

Make better investment decisions with Simply Wall St’s easy, visual tools that give you a competitive edge.

Tadano (TSE:6395) has caught investor attention after recent share price moves, with gains over the month and past 3 months prompting closer inspection of how its current valuation lines up with underlying business results.

See our latest analysis for Tadano.

At a share price of ¥1,379.0, Tadano has seen a 19.19% 1 month share price return and a 35.73% 3 month share price return, while the 1 year total shareholder return of 28.32% points to momentum that has been building rather than fading.

If this move in construction equipment is on your radar, it could be a good moment to look across the sector using our screener of 32 robotics and automation stocks as another source of ideas.

So with Tadano trading at ¥1,379 and an intrinsic discount flagging potential value even after a 36% 3 month run, is this still a mispriced crane maker, or are markets already reflecting expectations for future growth?

Tadano is flagged as good value on a P/E of 9.5x, with the shares at ¥1,379 compared to both peer and industry averages that sit materially higher.

The P/E multiple compares the current share price to earnings per share, so for a machinery manufacturer like Tadano it is a simple way to see what investors are currently paying for its profits.

Here, Tadano screens as good value versus three separate reference points. It trades below the estimated fair P/E of 12.8x, below the Japan Machinery industry average of 14.1x, and below a peer average of 20.3x, which suggests the market is pricing its earnings more conservatively than many comparables and below a level the fair ratio analysis indicates it could move toward.

That discount sits alongside a company that has recently grown earnings and improved net profit margins from 2.3% to 5.2%. It is considered good value in aggregate based on these relative checks, even though earnings are forecast to decline by an average of 5.8% per year over the next 3 years and revenue growth of 2.9% per year is expected to trail the broader JP market.

Explore the SWS fair ratio for Tadano

Result: Price-to-earnings of 9.5x (UNDERVALUED)

However, earnings growth pressure and any shift in expectations around Tadano’s current intrinsic discount could quickly challenge the idea that the shares remain mispriced.

Find out about the key risks to this Tadano narrative.

While Tadano screens as good value on a 9.5x P/E, our DCF model paints an even starker picture. With the shares at ¥1,379 and our estimate of future cash flow value at ¥3,171.71, the stock is flagged as trading at a 56.5% discount. That kind of gap can look attractive, but it also raises a question: which view do you trust more, the simple earnings multiple or the cash flow model?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Tadano for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 19 high quality undervalued stocks. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

If you see Tadano’s numbers differently or want to test your own assumptions against the data, you can build a custom view in just a few minutes by starting with Do it your way.

A great starting point for your Tadano research is our analysis highlighting 3 key rewards and 4 important warning signs that could impact your investment decision.

If you are weighing up Tadano’s valuation, it is a smart time to widen your watchlist with a few focused screens that surface different types of opportunities.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include 6395.T.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Find your next quality investment with Simply Wall St’s easy and powerful screener, trusted by over 7 million individual investors worldwide.

Liberty Latin America (LILA) has attracted fresh attention after recent share price moves, with the stock showing a mix of positive and negative returns across different timeframes that investors may want to unpack.

See our latest analysis for Liberty Latin America.

Recent trading has been choppy, with a 1-day share price return of a 3.5% decline and a 7-day share price return of a 4.81% decline. However, the 30-day share price return of 3.07% suggests short term momentum is picking up, even as the 3-year total shareholder return of a 16.36% decline and 5-year total shareholder return of a 34.07% decline point to a weaker long term experience for shareholders.

If you are reassessing your telecom exposure after looking at Liberty Latin America, it could be a good moment to broaden your search with 23 top founder-led companies.

With Liberty Latin America trading at US$7.72 against an analyst price target of US$11.90 and an intrinsic value implying a 75% discount, the key question is whether this signals a buying opportunity or a market that is already pricing in future growth.

Liberty Latin America’s most followed narrative pegs fair value at $11.90, compared with the last close at $7.72, and builds that gap on a detailed cash flow story using a 12.33% discount rate.

Ongoing operational efficiency initiatives, such as labor cost reductions, AI-driven process optimization, and disciplined capital intensity management, are expected to drive adjusted OIBDA margin expansion and improve free cash flow generation.

Read the complete narrative. Read the complete narrative.

Want to see what kind of revenue trajectory and margin rebuild sit behind that valuation gap? The narrative leans on earnings turning positive and a future profit multiple below the broader US telecom group. Curious how those pieces fit together into $11.90 per share? The full breakdown joins the dots.

Result: Fair Value of $11.90 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, that $734.4m net loss and the heavy group level debt of around $8.2b could still upset the cash flow story behind the US$11.90 fair value.

Find out about the key risks to this Liberty Latin America narrative.

If you see the numbers differently or want to stress test your own assumptions, you can build a personal Liberty Latin America view in just a few minutes, Do it your way.

A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding Liberty Latin America.

If Liberty Latin America has you thinking more carefully about where you put your next dollar, this is the moment to widen your net and see what else stands out.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include LILA.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com