Australia’s mining giants are entering a new phase. After years chasing mega deals that never quite landed, the focus is shifting to discipline – cutting costs, reviewing assets and doubling down on metals like copper that are critical to the energy transition. But that shift comes as operating pressures build, from rising input costs to weather disruptions and tighter supply.

On this episode, mining reporter Paul-Alain Hunt breaks down what’s driving the reset – and what comes next. We look at how the war in the Middle East is adding to cost pressures, why mega mergers are struggling to get over the line, and what leadership changes at BHP and Rio Tinto mean for the industry’s future.