The world’s biggest mining project finally gets off the ground
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 12 January 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
The US and the UK have carried out military strikes against Iran-backed Houthi rebels, US inflation numbers for December cool expectations for interest rate cuts in March. Plus, the FT’s Tom Wilson explains why the world’s biggest mining project took so long to get off the ground and whether it was worth the headache.
Mentioned in this podcast:
US and UK launch strikes against Houthi rebels in Yemen
Buckle up — the inflation battle is entering a new phase
World’s biggest mining project to start after 27 years of setbacks and scandals
Newsletter: Chris Giles on Central Banks
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Josh Gabert-Doyon Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:08.0 | Equinore. |
| 0:10.0 | UK. Good morning from the Financial Times. Today is Friday, January 12th, and this is your |
| 0:16.9 | F.T. news briefing. The West is responding to the attacks in the Red Sea, and U.S. inflation is mucking up investors hopes |
| 0:24.8 | for speedy interest rate cuts. Plus it took 30 years for Rio Tinto to get the |
| 0:30.4 | world's biggest mining project off the ground, but was it worth it? |
| 0:35.0 | I think it's seen as a test case for big scale mining projects for the green energy transition. |
| 0:41.0 | The industry will be watching to see can Rio Tinto pull this off. |
| 0:45.0 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:48.0 | The US and the UK carried out military strikes against the |
| 0:57.0 | Huthies in Yemen early this morning. The Huthies are a rebel group that's |
| 1:00.9 | backed by Iran. The strikes were a response to the |
| 1:04.1 | huthies attacks on commercial ships in the Red Sea. A U.S. official said the |
| 1:08.6 | goal was to degrade the group's military capability and defend a U.S. shipping vessels. |
| 1:14.3 | The Huthies have become one of Iran's most active groups since the Israel-Hamass war broke out |
| 1:19.1 | last year. |
| 1:20.1 | Hamas is also backed by Iran. The strikes by the US and the UK are making people even more nervous |
| 1:26.4 | that the war could escalate further throughout the Middle East. U.S. inflation numbers for December are out and they're kind of confusing. |
| 1:41.0 | Annual inflation ticked up to 3.4 percent a little bit more than expected |
| 1:45.7 | but the overall picture hasn't changed much. Inflation is actually trending down. |
| 1:51.2 | The December report opened up a big gap |
... |
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