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The Australian

Good morning,

The Albanese government will need to offer major subsidies to iron ore giants and global steelmakers to attract green iron investment in Australia and create a potential $400bn export industry , according to Rod Sims and Ross Garnaut's Superpower Institute.

Elsewhere in the green energy space, NSW is outpacing rival states in the shift from coal to renewables but looming challenges threaten to test the resilience of its ambitious agenda. See our map of where almost 100 approved projects are located.

And NDIS providers are going bust in growing numbers as inexperienced operators fail to cope with rising costs and the increasing complexity of the national disability scheme, the latest figures from the corporate watchdog show.

Vesna Poljak

Business editor

The markets

Making news this morning

1

Transmission shock for households: Poles, wires, power price pain

Up to 10,000km of transmission projects are needed to deliver Australia’s switch to green energy. New analysis shows major cost blowouts could be passed on to household power bills.

2

Former Rio boss backs outgoing CEO’s lithium bet

Veteran Rio Tinto executive Leigh Clifford has praised the performance of outgoing CEO Jakob Stausholm, saying he is leaving the mining giant with an excellent set of assets.

3

Telstra still in hot seat over coverage claims

Australia’s top shareholder group wants independent checks after Telstra flips its network coverage story, while the Nationals are threatening the glare of a potential Senate committee probe.

Editor's picks

AVZ and Congolese hit pause on lithium legal battle

A ceasefire in a legal fight has set the scene for AVZ Minerals and a US company backed by Bill Gates and Jeff Bezos to finalise the sale of a major DRC lithium project.

By BRAD THOMPSON

Is Samsung’s thinnest and newest phone worth it?

The Korean electronics giant says it has achieved an engineering feat with the S25 Edge. But it shares a lot of similarities with a chunkier and cheaper model. So is it worth the hype?

Aggrieved spouses turning to crypto to hide cash

Troubled couples are increasingly turning to the murky world of cryptocurrencies to hide assets during divorce proceedings, one of Australia’s top forensic investigators warns.

Commentary

Treasurer’s new super tax will hit more than forecast

By JAMES KIRBY

Associate Editor - Wealth

ATO data proves beyond doubt how the proposed new super tax will quickly capture hundreds of thousands of extra investors.

The importance of reliable mobile coverage

By VICKI BRADY

At Telstra we are confident our claim to have a mobile network that covers three million square kilometres was right all along.

DataRoom

→	Acquisitions on agenda for a2 Milk

The a2 Milk Company is positioning itself for a $350m-plus transaction across the Tasman, with some pointing to manufacturing assets as its likely target, sources say.

→	NFPs eye scope for health action

Not-for-profit healthcare operators remain heavily engaged in plans to take on the hospitals of Healthscope since lenders have been forced to step in and orchestrate a break-up.

→	Suitors assess whether Bellevue glitter is golden

Evolution Mining, Northern Star and Regis Resources are three of the groups believed to be in a data room considering a deal to buy Bellevue Gold, sources say.