| Prime Minister Anthony Albanese said China’s ban on new iron ore cargoes from BHP Group is “disappointing” and he wants the issue to be resolved quickly. Meanwhile, the miner announced it would spend A$840 million to bolster its Olympic Dam underground copper project in South Australia. The US State Department gave the green light for Australia to purchase HIMARS mobile rocket systems and related equipment worth $705 million, which will help bolster its defenses in an increasingly contested Indo-Pacific. Tanarra Capital is halting new investments for its distressed credit fund due to a lack of opportunities, the Australian fund manager said in a statement. The fund is managed by Tanarra Restructuring Partners and invests in distressed debt, stressed debt and special situation credit. A spokesman said the fund is about 85% committed. Gladstone, one of Australia’s biggest coal-fired power plants, plans to close six years earlier than previously expected. It’s now set to retire when existing supplies and operational arrangements expire in March 2029, according to majority shareholder Rio Tinto. Across the ditch, home prices rose for the first time in six months as borrowing costs fell, but values remain lower than a year ago. Meanwhile, New Zealand’s government warned local councils to take a pragmatic approach to consent applications from farmers and not to create obstacles for new developments. | 
