Simon Johanson

Australian family scores $417 million windfall from business that grew from a trailer park

WA-born Simon Trott’s promotion to Rio Tinto chief executive has won plaudits across the board, billionaire iron ore magnate Gina Rinehart urging the new boss to transfer its headquarters from London to Australia.

Since starting the SkyBus service in 2015 with 50 vehicles, Australian company Kinetic now runs a global fleet of buses and trains.

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The world’s biggest miner had made overtures to Anglo American in recent days after a failed bid to buy the smaller company last year.

The company chief says he intends to reduce costs at the global resources company by 4 cent to 2030, and has outlined a vision to simplify the business.

One type of seaweed cuts methane emissions and fattens cattle and another has natural polymers that behave like plastic.

Artificial intelligence is cutting downtime, eliminating risks and saving up to $250 million a year at the Big Australian.

Crypto, central banks, retirees, high-vis and city workers are buying into gold boom as the yellow metal reshapes the ASX.

A few years ago, BHP and Rio Tinto expected they would be deploying battery-powered trucks by the end of this decade. Now, those timelines have slipped into the 2030s.