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Australia inks $38m deal to kickstart domestic missile manufacturing

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The Albanese Government has announced a landmark contract worth $37.4 million between the Defence Department and Lockheed Martin Australia, aimed at commencing domestic production of Guided Multiple Launch Rocket System.

This move marks a pivotal step towards establishing a self-sustained missile manufacturing industry in the country, a critical objective outlined in response to the Defence Strategic Review.

The contract will not only facilitate the production of an initial batch of GMLRS missiles within Australian borders but also serve as a catalyst for the transfer of essential technical data from the United States, the establishment of robust engineering certification processes, and the development of technical expertise among the Australian workforce.

In addition to the GMLRS missiles, the Australian Government has also confirmed the procurement of Precision Strike Missiles (PrSM). Both PrSM and GMLRS have the capability to engage targets at distances of up to 500 kilometers, making them a formidable addition to the nation’s defense arsenal.

These missiles can be launched from High Mobility Artillery Rocket System (HIMARS) launchers, further enhancing their versatility and effectiveness.

This groundbreaking initiative is part of the $4.1 billion investment plan unveiled in response to the Defence Strategic Review, which aims to bolster the Australian Defence Force’s long-range strike capabilities and promote the in-country production of extended-range munitions.

Satisfaction and development

Deputy Prime Minister, the Hon Richard Marles MP, expressed his satisfaction with the development, stating, “Signing this contract with Lockheed Martin Australia to commence the manufacturing of GMLRS in Australia from 2025 is another example of the Albanese Government delivering key outcomes of the Defence Strategic Review.

“These are important milestones which will see Australia gain the technology we need to establish a sovereign industry, providing opportunities for a highly-skilled workforce.”

Acting Minister for Defence and Minister for Defence Industry, the Hon Pat Conroy MP, also lauded the agreement, affirming, “This announcement delivers on the Albanese Government’s commitment to reprioritise Defence capabilities in line with the Defence Strategic Review, including developing the ADF’s ability to precisely strike targets at longer range.

“This important first step towards the establishment of domestic guided weapons manufacturing in Australia will complement the acquisition of long-range precision strike capabilities and strengthen the ADF’s ability to protect Australia and its interests. This work is a clear demonstration of the ongoing collaboration between Australia and the United States on Australia’s Guided Weapons and Explosive Ordnance Enterprise – a key outcome of the Australia-United States Ministerial Consultations in July 2023.”

As Australia prepares to take a significant leap in its missile manufacturing capabilities, this historic agreement with Lockheed Martin Australia marks a milestone in the country’s journey towards self-reliance and strengthening its national defense infrastructure.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Australian materials sector surges despite economic slowdown

Australian materials sector thrives with record ASX highs; gold exports surge, while lithium rallies amidst economic concerns.

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Australian materials sector thrives with record ASX highs; gold exports surge, while lithium rallies amidst economic concerns.


The Australian materials sector is showing surprising strength, with the ASX Materials Index hitting a new record high despite a weak earnings season. Investors are returning to miners even as profits soften, driven by confidence in long-term commodity demand.

Gold remains a standout, with exports forecast to reach $60 billion next year — a $12 billion increase — cementing its place as Australia’s second-largest export earner. Prices near US$2,400 per ounce have kept margins strong for producers like Newcrest and Northern Star.

Meanwhile, lithium is rebounding with its strongest rally since 2023, and small-cap miners are outperforming larger players. However, economists warn that a potential rate cut in December signals slowing growth and underlying cracks in the broader economy.

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#ASX #Mining #Gold #Lithium #Economy #Australia #Markets #TickerNews


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Aid restrictions intensify in Gaza amid renewed violence

Aid restrictions in Gaza worsen humanitarian crisis as Hamas tightens control amid ongoing conflict and international peace efforts.

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Aid restrictions in Gaza worsen humanitarian crisis as Hamas tightens control amid ongoing conflict and international peace efforts.


Aid restrictions into Gaza have tightened further as Israel reduces the number of permitted aid trucks and keeps border crossings closed. Humanitarian organisations warn that food and medical supplies are running dangerously low, with conditions worsening for civilians trapped inside the enclave.

Meanwhile, reports indicate that Hamas has reasserted its control through public executions, a stark reminder of its grip on the territory. The developments come as international pressure mounts for sustained peace and accountability under the ongoing ceasefire framework.

U.S. President Donald Trump has announced Phase Two of the ceasefire deal despite delays in the return of deceased hostages. However, Israeli air strikes have continued, adding to the mounting toll of the conflict and casting doubt on hopes for lasting stability.

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#Gaza #Israel #MiddleEast #Ceasefire #HumanitarianCrisis #Hamas #Trump #TickerNews


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U.S. and China work to de-escalate trade tensions

Trump and Xi seek de-escalation as U.S.-China trade tensions rise amid new tariffs and market instability

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Trump and Xi seek de-escalation as U.S.-China trade tensions rise amid new tariffs and market instability

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In Short:
– Trump and China aim to ease escalating trade tensions while discussing tariff threats and market stability.
– Both nations prefer negotiation over retaliation, seeking collaboration for economic benefits.
President Trump is navigating complex tensions with China as both nations seek to ease trade disputes that have escalated in recent weeks.
After threatening a 100% tariff on Chinese imports effective November 1, Trump has engaged in discussions with senior officials, including Treasury Secretary Scott Bessent, about reducing tensions and stabilising markets.Banner

Despite the tariff threat following China’s export restrictions on rare-earth minerals, both countries have shown interest in detente. Chinese officials are keen to preserve a planned summit between Trump and Xi Jinping, while the U.S. administration is motivated to avoid stock market turmoil and refocus on other global matters.

Response Considerations

Strengthening audit processes for Chinese firms operating in the U.S. has been discussed, alongside potential executive actions against Chinese investments linked to Russian oil. Senior advisers, including Bessent, are now prioritising global market stability while offering a more conciliatory tone towards China.

Trump indicated willingness to engage in talks despite previous statements suggesting a severed meeting with Xi.

The lack of specific retaliatory threats from the Chinese government in response to Trump’s tariff announcement signals a desire for tempered relations. China’s Ministry of Commerce has stated that the export controls are not outright bans and will be moderated. Signs of this intention are reflected in lower-profile media coverage of the trade tensions within China.

Both nations face a choice between escalating tensions or pursuing negotiations that could benefit their economies significantly. Business leaders hope the focus will shift towards collaboration rather than another cycle of retaliation.


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