Category: Asia Pacific

MIL-OSI Asia-Pac: Foreign Minister Lin hosts welcome luncheon for Estonian defense industry delegation

Source: Republic of China Taiwan 3

Foreign Minister Lin hosts welcome luncheon for Estonian defense industry delegation

Date：2025-02-05
Data Source：Department of European Affairs

No. 032
February 5, 2025

Minister of Foreign Affairs Lin Chia-lung hosted a welcome luncheon on February 4 for an Estonian defense industry delegation led by Chair of the Estonia-Taiwan Support Group of the Parliament of Estonia Kristo Enn Vaga. The delegation included senior parliamentarian Kalle Laanet—who previously served as minister of defense, minister of the interior, and minister of justice—as well as representatives of the defense industry. During the event, the two sides exchanged views on cooperation in defense industry innovation, whole-of-society resilience, the Russia-Ukraine war, and other issues.

Minister Lin noted that Taiwan and Estonia had both experienced authoritarian rule and therefore greatly cherished their hard-won freedoms and democracy. Commenting on authoritarian expansionism in recent years, he pointed out that the ongoing Russia-Ukraine war, China’s recurrent military exercises in the waters around Taiwan, and frequent incidents of sabotage of underwater cables in the Baltic Sea and the waters off Taiwan underscored the importance of enhancing collaboration among democratic nations. Minister Lin also spoke about having led a delegation of the Taiwanese drone industry to Lithuania last November to demonstrate Taiwan’s determination to build democratic supply chains together with like-minded nations. He welcomed this visit by the Estonian defense industry delegation, which, he said, would open up additional areas for cooperation.

Chair Vaga stated that the democratic community had realized that if like-minded partners did not work together to establish supply chains, national security could become susceptible to potential threats. Observing that Taiwan and Estonia were both the targets of massive daily disinformation attacks and that underwater cables serving each had recently been damaged, Chair Vaga urged the democratic community to become more united against all manner of threats and challenges. He also pledged to steadily promote relations between Taiwan and Estonia.

At the luncheon, Minister Lin thanked the representatives of Motex Healthcare and Taiwan Comfort Champ Manufacturing for their joint donation of 1.11 million masks to Ukraine and Estonia during the Estonian delegation’s visit to Taiwan, adding that it highlighted the Taiwanese spirit of humanitarian assistance. Deputy Minister of Foreign Affairs François Chihchung Wu witnessed the donation ceremony on behalf of Minister Lin.

Deputy Minister Wu said that, since the outbreak of the Russia-Ukraine war, Taiwan had worked proactively with like-minded countries to support Ukraine. He stated that the Taipei Mission in the Republic of Latvia and the Estonian Centre for International Development had signed a partnership agreement last June, under which Taiwan would donate €1.1 million to support the construction of homes for orphans in Ukraine. Deputy Minister Wu expressed pleasure that Taiwanese companies had shown a commitment to corporate social responsibility and demonstrated that Taiwan could help and that Taiwan was helping. His views were echoed by Chairman of Motex Healthcare Y. C. Cheng and Chairman of Taiwan Comfort Champ Manufacturing Andy Chen, both of whom expressed a willingness to work with the government to assist Ukraine. (E)

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: MOFA response to false claims regarding Taiwan in joint statement between PRC and Kyrgyzstan

Source: Republic of China Taiwan 3

MOFA response to false claims regarding Taiwan in joint statement between PRC and Kyrgyzstan

Date：2025-02-06
Data Source：Department of West Asian and African Affairs

February 6, 2025

Chinese leader Xi Jinping met with President Sadyr Japarov of the Kyrgyz Republic on February 5. The two sides issued a joint statement on deepening their comprehensive strategic partnership in the new era, which erroneously claimed that Taiwan was an inalienable part of China. The Ministry of Foreign Affairs (MOFA) solemnly refutes this false narrative.

MOFA reiterates that the Republic of China (Taiwan) is a sovereign and independent nation; that neither the ROC (Taiwan) nor the People’s Republic of China is subordinate to the other; and that the Chinese Communist Party regime has never governed Taiwan. The ROC (Taiwan) is a modern democratic country that actively defends its democratic system and respects human rights and the rule of law. No statement seeking to distort the sovereign status of the ROC (Taiwan) can change the internationally recognized cross-strait status quo.

Taiwan is located on a strategic front line in the Indo-Pacific, safeguarding the values of democracy and freedom. Taiwan remains staunchly committed to defending its national sovereignty. Moving forward, Taiwan will continue to strengthen cooperation with like-minded partners to jointly counter China’s attempts at rhetorical and military intimidation, curb authoritarian expansionism, ensure peace and stability across the Taiwan Strait, and promote global economic security and prosperity.

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: MOFA response to false claims regarding Taiwan in joint statement between PRC and Brunei

Source: Republic of China Taiwan 3

MOFA response to false claims regarding Taiwan in joint statement between PRC and Brunei

Date：2025-02-08
Data Source：Department of East Asian and Pacific Affairs

February 8, 2025Chinese leader Xi Jinping met with Sultan of Brunei Haji Hassanal Bolkiah Mu’izzaaddin Waddaulah on February 6. The two sides issued a joint statement on advancing the strategic cooperative partnership towards a China-Brunei community with a shared future, which erroneously claimed that Taiwan was an inalienable part of China. The Ministry of Foreign Affairs (MOFA) strongly condemns this claim.MOFA reiterates that the Republic of China (Taiwan) is a sovereign and independent nation; that neither the ROC (Taiwan) nor the People’s Republic of China is subordinate to the other; and that the Chinese Communist Party regime has never governed Taiwan. No statement seeking to distort the sovereign status of the ROC (Taiwan) can change the internationally recognized cross-strait status quo.MOFA emphasizes that Taiwan will not succumb to pressure or diplomatic suppression by China’s authoritarian government. Through its practice of integrated diplomacy, Taiwan will continue to deepen economic and trade cooperation and bilateral relations with Brunei and other nations so as to jointly facilitate regional prosperity.

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: MOFA response to joint statement from US-Japan summit reaffirming importance of cross-strait peace and stability

Source: Republic of China Taiwan 3

MOFA response to joint statement from US-Japan summit reaffirming importance of cross-strait peace and stability

Date：2025-02-08
Data Source：Department of North American Affairs

February 8, 2025

US President Donald Trump and Japanese Prime Minister Shigeru Ishiba held a summit in Washington, DC, on February 7. In the joint statement released after the meeting, the two leaders emphasized the importance of maintaining peace and stability across the Taiwan Strait as an indispensable element of security and prosperity for the international community.

Furthermore, President Trump and Prime Minister Ishiba encouraged the peaceful resolution of cross-strait issues, opposed any attempts to unilaterally change the status quo by force or coercion, and expressed support for Taiwan’s meaningful participation in international organizations. The leaders also underlined their strong opposition to China’s attempts to change the status quo by force or coercion in the East China Sea as well as its unlawful claims, militarization, and provocative activities in the South China Sea.

The Ministry of Foreign Affairs sincerely appreciates and affirms the fact that the leaders of the United States and Japan, meeting for the first time since they assumed their respective positions, used this historic occasion to jointly reiterate their staunch position on maintaining peace and stability across the Taiwan Strait and strongly oppose any unilateral attempts to change the status quo by force or coercion.

MOFA welcomes the continued attention of the international community on cross-strait peace and stability, as well as its concern over China’s threats to the peaceful status quo. As a responsible member of the international community, Taiwan will actively implement its Four Pillars of Peace action plan, which includes further strengthening its national defense capabilities. Taiwan will work together with the United States, Japan, and other like-minded countries to ensure peace, stability, and prosperity across the Taiwan Strait and throughout the Indo-Pacific region.

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: MOFA response to false claims regarding Taiwan in joint statement between PRC and Thailand

Source: Republic of China Taiwan 3

MOFA response to false claims regarding Taiwan in joint statement between PRC and Thailand

Date：2025-02-08
Data Source：Department of East Asian and Pacific Affairs

February 8, 2025Chinese leader Xi Jinping met with Thai Prime Minister Paetongtarn Shinawatra on February 6. Two days after the meeting, the two sides issued a joint statement on advancing the comprehensive strategic cooperative partnership and building a China-Thailand community with a shared future for enhanced stability, prosperity, and sustainability through a forward-looking and people-centered vision. The text includes the erroneous claim that Taiwan is an inalienable part of China, as well as an expression of support by Thailand for China’s “one country, two systems” policy. Given that the statement radically deviates from the facts, the Ministry of Foreign Affairs strongly protests and solemnly condemns the Chinese government for once again disseminating narratives aimed at downgrading the sovereignty of the Republic of China (Taiwan). In addition, MOFA deeply regrets the Thai government’s subservience to China’s suppression of Taiwan’s sovereign status.MOFA reiterates that the ROC (Taiwan) is a sovereign and independent nation; that neither Taiwan nor the People’s Republic of China is subordinate to the other; and that the Chinese Communist Party regime has never governed Taiwan. No fraudulent claim seeking to distort the sovereign status of the ROC (Taiwan) can change the internationally recognized cross-strait status quo.MOFA emphasizes that Taiwan and Thailand share a long-standing friendship and urges the government of Thailand to adopt an open and pragmatic approach toward building on the existing foundation of robust cooperation so that both sides can expand mutually beneficial economic, trade, and other exchanges and properly contribute to regional peace and stability.

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Security: U.S. Navy, 30+ Partners Commence International Maritime Exercise (IMX) 2025

Source: United States Naval Central Command

MANAMA, Bahrain —

The Middle East region’s largest maritime exercise, International Maritime Exercise (IMX) 2025, kicked off in two locations, Bahrain and Jordan, Feb. 10.

The week began with academic discussions covering a series of topics including the naval planning process, maritime operations center procedures, and disaster response coordination.

IMX25 is a 12-day naval training event hosted by U.S. Naval Forces Central Command (NAVCENT). This year’s iteration of IMX is linked with exercise Cutlass Express. Cutlass Express, led by U.S. Naval Forces Europe-Africa, is an annually scheduled exercise designed to enhance regional maritime awareness and the combined capabilities of partner nations to respond to maritime threats. The exercises are link through information sharing between maritime operations center to strengthen theater-to-theater coordination, reducing regional seams and strengthening U.S. and partner nation capabilities and interoperability.

More than 5,000 personnel from more than 35 nations and international organizations will take part in both exercises.

IMX is designed to demonstrate global resolve in preserving the rules-based international order, offering a unique opportunity for participants to collaborate and showcase regional maritime security cooperation.

“Exercises like IMX show that we are at our best when we work together and that our resolve is unwavering,” said U.S. Navy Rear Adm. Jeff Jurgemeyer, NAVCENT vice commander, during his remarks at the opening ceremony. “The Middle East region is a critical crossroads for worldwide commerce and trade. IMX is our combined assurance that the potential for economic success is greatest when international waterways are safe and open for all.”

The operational phase will include partner exchanges on mine and countermeasures; visit, board, search and seizure; unmanned systems and artificial intelligence integration; explosive ordnance disposal; vessel defense; search and rescue; and mass casualty response, among other focus areas.

This is the ninth iteration of IMX since its establishment in 2012.

The U.S. 5th Fleet area of operations encompasses nearly 2.5 million square miles of water area and includes the Arabian Gulf, Gulf of Oman, Red Sea, parts of the Indian Ocean and three critical choke points at the Strait of Hormuz, Suez Canal and Bab al-Mandeb.

More information about IMX is available at: https://www.cusnc.navy.mil/IMX/.

MIL Security OSI –

February 11, 2025
MIL-OSI New Zealand: Police locate person sought following incident in Clutha area

Source: New Zealand Police (National News)

Today Police have located the person sought in relation to alleged firearms offending in the Clutha area.

Police have engaged in dialogue with the person, who is believed to be alone, at a rural Clutha property.

The situation is contained and there is currently no risk to the public.

ENDS

Issued by Police Media Centre

MIL OSI New Zealand News –

February 11, 2025
MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu and Mrs. Wu Attended the Grand Opening of OMMI DON Chatswood

Source: Republic Of China Taiwan 2

irector General David Cheng-Wei Wu and Mrs. Wu attended the grand opening of OMMI DON Chatswood, joining @Tim James MP, Shadow Minister for Small Business, Willoughby Deputy Mayor Angelo Rozos, Councillor Michelle Chuang, and Liberal candidate for Bradfield @Gisele Kapterian for the ribbon-cutting ceremony. They also took part in the traditional eye-dotting ritual, celebrating this exciting new milestone for Ommi’s .
DG Wu praised Omar’s inspiring journey—overcoming challenges and taking Ommi’s Food & Catering to new heights. His resilience embodies the spirit of Taiwan and its people, and his success is a great example of how a Taiwanese business can thrive and become an integral part of the local community. It also reflects the diversity and vibrancy of Australia’s multicultural economy.
We wish Omar and his team continued success and fulfillment in this exciting new chapter.

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu and Mrs. Wu Attended the Lunar New Year Gathering Hosted by the KMT Australia Branch

Source: Republic Of China Taiwan 2

Director General David Cheng-Wei Wu and Mrs. Wu, along with colleagues, attended the Lunar New Year gathering and birthday celebration organized by the KMT Australia Branch.
In addition to offering New Year greetings and wishing all attendees good fortune for the Year of the Snake, DG Wu took the opportunity to express his gratitude for the full-page advertisement published by the branch for the New Year’s Day flag-raising ceremony. He hoped that the branch would continue to firmly support the government of Republic of China (Taiwan) and TECO in Sydney.

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu Celebrates 2025 Lunar New Year with Ryde City in Eastwood

Source: Republic Of China Taiwan 2

The 2025 Lunar New Year Festival at Eastwood Oval, hosted by the City of Ryde, was a great success. Thousands gathered at Eastwood Oval to enjoy the spectacular dragon dance and high-pole lion dance.Director General David Cheng-Wei Wu was honoured to join the Grand Opening and Lion Eye-Dotting Ceremony alongside Mayor Trenton Brown, Prime Minister Anthony Albanese, NSW Premier Chris Minns, NSW Opposition Leader Mark Speakman, and VIPs from Federal and NSW Parliaments, Ryde City Council, academia, the cultural industry, and the NSW Consular Corps.
PM Albanese emphasized that “people” are Australia’s most valuable asset. He highlighted that Australia’s diverse communities are not only the backbone of society and co-authors of the Australian story but also play a key role in connecting Australia to the world, strengthening its international image and influence.
Mayor Trenton Brown and NSW Premier Chris Minns expressed their gratitude to communities of all ethnic and cultural backgrounds for their contributions. They recognized the energy and vibrancy these communities bring to the economy and how they embody Australia’s spirit of diversity and inclusivity.
The Taiwanese community once again seized the opportunity to showcase Taiwan’s unique cultural traditions. We were proud to see the Taiwanese Indigenous group “Formosa”, in collaboration with DCS International of NSW and Australia, deliver a stunning performance that earned resounding applause.

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI China: Traditional folk dance as cultural link

Source: China State Council Information Office 3

Drawn by the rhythmic beats of drums and spirited shouts, Thanita Raemee, a 20-year-old Thai exchange student, navigated through winding streets and bustling alleys until she arrived at the dynamic training grounds of the Ximen Women’s Yingge Dance Team.

Founded in 1952, this pioneering all-female team is the first of its kind in the Chaoshan region of south China’s Guangdong Province, with members ranging from teenagers to nearly 80-year-olds. Performers come from all walks of life — spirited young girls, agile middle-aged men, and even food delivery workers dancing between shifts.

The Yingge dance, or “dance to the hero’s song,” is a form of folk dance popular in south China’s Guangdong Province. Dating back to the Ming Dynasty (1368-1644), this traditional dance is often performed during traditional Chinese festivals. As a dynamic blend of theater, dance, and martial arts, it was listed among the first batch of national intangible cultural heritage in 2006.

Once a traditional folk performance, Yingge dance saw a recent surge in popularity. Videos of its energetic routines have flooded social media, earning it the title of the “ultimate Chinese New Year atmosphere booster.”

While men’s Yingge performances are inspired by the legendary “Water Margin,” one of the four great classical novels in Chinese literature, the women’s routines often draw from the tales of legendary Chinese heroines like Mu Guiying and Hua Mulan.

Thanita watched in awe as the dancers moved in perfect unison, their forms embodying both strength and grace.

“Incredible! How do they stay so synchronized? Compared to traditional Thai dance, this feels much more powerful and rhythmic — it’s exhilarating!” she exclaimed.

“Most of our members are under 20, balancing their studies and work. They train purely out of passion,” said the team’s coach Wu Yanhua, who left her job as a kindergarten teacher to focus on the team’s revival in 2011.

That passion was evident in every interaction. “My teammates take turns helping me with childcare. Yingge dance is part of my life — I even dream about it,” said a team member Zhou Yixiang while gently rocking her five-month-old baby in a stroller.

Six-year-old Huang Kexin eagerly demonstrated snake-dance moves she had just learned, hopping and twirling with a delightful burst of playful energy. Meanwhile, 11-year-old Lin Yahan patiently taught Thanita how to grip the Yingge hammer properly, while her twin sister nodded in encouragement.

During the recently concluded Spring Festival holiday, homestay tourism flourished across China. Shantou, a key city in Chaoshan known for its rich New Year traditions, saw bookings soar 13 times from last year. Lion dance, Yingge dance and other traditional performances have become festival favorites.

Thanita has family roots in Chaoshan — her father is an overseas Chinese descendant. For her, Yingge dance serves as a bridge between Chinese and Thai cultures. In fact, many in Thailand are already familiar with the dance.

In early 2023, a Thai Yingge team’s electrifying performance at a shopping mall in Thailand went viral, and later that year, the Yingge cultural exchange group from Thailand visited Chaoshan to engage with local dancers.

This year, Yingge dance teams from Shantou have also been invited to perform on multiple overseas stages for the Spring Festival celebrations.

Organized by the Department of Culture and Tourism of Guangdong Province, the 25-member Yingge team toured Germany and France from Jan. 28 to Feb. 4. They performed in cities like Hanau, Frankfurt, Paris, and Lyon, sharing the vibrant charm of Yingge dance.

Studying international Chinese education at Shantou University, Thanita deeply admires the dedication and enthusiasm of Yingge performers.

“One of my goals in coming to China was to explore the traditions my ancestors once lived by. Yingge has expanded my understanding of Chaoshan and Chinese culture while revealing the cultural ties between China and Thailand,” she said.

MIL OSI China News –

February 11, 2025
MIL-OSI New Zealand: Fatal crash: Mouse Point Road, Hurunui

Source: New Zealand Police (District News)

Police can confirm one person has died following a crash in Hurunui this afternoon.

The two-vehicle crash on Mouse Point Road was reported just after 4:20pm.

The person died at the scene, no further injuries were reported.

The road remains closed while the Serious Crash Unit conduct a scene examination.

ENDS

Issued by Police Media Centre

MIL OSI New Zealand News –

February 11, 2025
MIL-OSI Economics: Secretary-General of ASEAN receives delegation of Australian Senior Media Editors

Source: ASEAN

At the ASEAN Headquarters/ASEAN Secretariat today, Secretary-General of ASEAN, Dr. Kao Kim Hourn, received a group of senior media editors from Australia. SG Dr. Kao shared his views on the contributions of ASEAN-Australia Comprehensive Strategic Partnership to the ASEAN’s community-building efforts and underscored the important role of media in encouraging greater cooperation between ASEAN and Australia, especially in the areas of trade, investment, tourism and connectivity, among others. The delegation is currently visiting Indonesia as part of the Senior Editors Program, a flagship programme of the Australia-Indonesia Institute.

The post Secretary-General of ASEAN receives delegation of Australian Senior Media Editors appeared first on ASEAN Main Portal.

MIL OSI Economics –

February 11, 2025
MIL-OSI Economics: Secretary-General of ASEAN meets with new Executive Director of the ASEAN Centre for Energy

Source: ASEAN

Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received a courtesy call from the new Executive Director of the ASEAN Centre for Energy (ACE), Dato’ Ir. Ts. Abdul Razib Dawood, at the ASEAN Headquarters/ASEAN Secretariat. During their meeting, they discussed, among others, advancing regional energy security, sustainability, and key priorities under the ASEAN Plan of Action for Energy Cooperation (APAEC), including the ASEAN Power Grid and the clean energy transition.

The post Secretary-General of ASEAN meets with new Executive Director of the ASEAN Centre for Energy appeared first on ASEAN Main Portal.

MIL OSI Economics –

February 11, 2025
MIL-OSI United Kingdom: Applications invited for special UK visa route
Source: United Kingdom – Executive Government & Departments

The UK-India Young Professionals Scheme (YPS) 2025 ballot will open next week.
The UK-India Young Professionals Scheme (YPS) 2025 ballot will open next week. This bespoke visa scheme offers Brits and Indians the unique opportunity to live, study, travel, and work in the other country for up to two years.

Indian nationals aged 18 to 30 must enter the ballot on gov.uk to be considered for one of the 3,000 spots available under the scheme. The ballot is scheduled to open on 18 February and close on 20 February. Applicants do not need to pay to enter the ballot, and successful entries will be picked at random.

Applicants must be at least 18 years old on the date they plan to travel to the UK. They must also have a qualification at UK bachelor’s degree level or above and have proof of £2,530 in savings to support themselves in the UK. Applicants should ensure they meet all eligibility requirements before entering the ballot.

Lindy Cameron, British High Commissioner to India, said:

The Young Professionals Scheme is an excellent programme which helps build a modern understanding of our countries among Brits and Indians alike. I strongly encourage people from all corners of the country to apply – from Itanagar to Coimbatore, from Leh to Surat, and from Bhubaneshwar to Indore.

Further information

launched in February 2023, the UK-India Young Professionals Scheme (YPS) is a bespoke, reciprocal scheme under which UK and Indian nationals who are aged 18 to 30 can live, study, travel and work in the other country for up two years. The opening of the ballot will be announced on GOV.UK. See eligibility conditions for entering the YPS ballot

the YPS ballot for Indian nationals wanting to travel to the UK is free to enter. Those selected from the ballot will be notified via email within two weeks of the ballot closing and will be invited to apply for the visa. They will then have 90 days from the date of the email informing them of their success in the ballot to make an application to the UK Home Office via the online application form, provide their biometrics and pay all associated fees, including the visa application fee and immigration health surcharge

selected applicants must mandatorily return to India after completing two years in the UK under this scheme

there were over 2,100 YPS visas issued to Indian nationals in the year ending December 2023

all UK visa customers should beware of visa agents or any such agencies that promise a visa under this scheme by paying money. See guidance on protecting yourself from any kind of visa and immigration fraud

official guidance for Brits looking to travel to India under the scheme can be found on the website of the High Commission of India in London

Media

For media queries, contact:

David Russell, Communications Counsellor and Spokesperson,
British High Commission, Chanakyapuri,
New Delhi 110021. Tel: 24192100

Media queries: BHCMediaDelhi@fcdo.gov.uk

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Published 11 February 2025
MIL OSI United Kingdom –
February 11, 2025

MIL-OSI: International Petroleum Corporation Announces 2024 Year-End Financial and Operational Results and 2025 Budget, Reserves and Guidance

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 11, 2025 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2024. IPC is also pleased to announce its 2025 budget, including that IPC continues to progress the development of the Blackrod Phase 1 project in Canada in line with schedule and budget. IPC previously announced the renewal of the normal course issuer bid (NCIB) under which IPC may acquire a further 5.3 million common shares up to December 2025, in addition to the 2.2 million common shares already purchased for cancellation under the NCIB in December 2024 and January 2025. IPC’s 2025 capital and decommissioning expenditure budget is USD 320 million and its 2025 average daily production guidance is between 43,000 and 45,000 barrels of oil equivalent (boe) per day (boepd). 2024 year-end proved plus probable (2P) reserves are 493 million boe (MMboe) and best estimate contingent resources (unrisked) are 1,107 MMboe.⁽¹⁾⁽²⁾

William Lundin, IPC’s President and Chief Executive Officer, comments: “We are very pleased to announce that IPC achieved strong operational results in 2024. Our average net production was 47,400 boepd for the full year, with very strong operational and ESG performance across all our areas of operation. 2024 was a very significant investment year for our Blackrod Phase 1 development project, and we have spent over two-thirds of the forecast capital expenditure by the end of 2024. We generated strong cash flows from our business, and we returned USD 102 million to shareholders through share buybacks in 2024. With gross cash resources of USD 247 million at 2024 year-end, we continue to be well positioned to deliver on our three strategic pillars of Organic Growth, Stakeholder Returns, and M&A that drive value creation for our stakeholders.⁽¹⁾⁽³⁾

On Organic Growth, we are very pleased with the progress of the development of Phase 1 of the Blackrod project, Canada, which remains in line with schedule and budget. Phase 1 of the Blackrod project continues to forecast first oil in late 2026, with peak production planned to increase to 30,000 bopd by 2028. In 2024, IPC achieved over 250% reserves replacement ratio, ending the year with 493 MMboe of 2P reserves, the highest in our history.⁽¹⁾⁽²⁾

On Stakeholder Returns, we completed the 2023/2024 NCIB program, purchasing and cancelling 8.3 million IPC common shares over the period of December 5, 2023 to December 4, 2024, representing approximately 6.5% of the common shares outstanding at the start of that program. We immediately recommenced purchasing under the renewed 2024/2025 NCIB, purchasing for cancellation 0.8 million common shares during December 2024 and over 1.4 million common shares during January 2024. We are permitted to purchase up to a further 5.3 million common shares by early December 2025, which will represent a 6.2% reduction in the number of shares common outstanding at the beginning of the 2024/2025 NCIB.

On M&A, we continue to review potential opportunities in Canada and internationally. IPC’s principal focus continues to be on progressing the Blackrod Phase 1 development as well as developing our existing asset base in Canada, France and Malaysia.

IPC is well-positioned for 2025 and beyond as our Blackrod Phase 1 project is progressing according to plan, our existing production operations continue to generate strong cash flows, and our balance sheet is strong. At the same time, we continue return value to our shareholders by repurchasing and cancelling our common shares under the NCIB. I look forward to another exciting year at IPC with our high quality assets and our highly skilled and motivated teams across all areas of operation.”

2024 Business Highlights

Average net production of approximately 47,400 boepd for the fourth quarter of 2024 was in line with the guidance range for the period (51% heavy crude oil, 15% light and medium crude oil and 34% natural gas).⁽¹⁾
Full year 2024 average net production was 47,400 boepd, above the mid-point of the 2024 annual guidance of 46,000 to 48,000 boepd.⁽¹⁾
Development activities on Phase 1 of the Blackrod project progressed in 2024 on schedule and on budget, with forecast first oil in late 2026. All major third-party contracts have been executed and construction is advancing according to plan, including construction of the central processing facility (CPF) and well pad facilities, finalization of the midstream agreements for the input fuel gas, diluent and oil blend pipelines, and advancement of drilling operations. As at the end of 2024, over two-thirds of the forecast Blackrod Phase 1 development capital expenditure of USD 850 million has been spent since project sanction in early 2023.
Drilling activity at the Southern Alberta assets in Canada continued with a total of thirteen wells drilled during 2024.
Successful completion of planned maintenance shutdowns at Onion Lake Thermal (OLT) in Canada and the Bertam field in Malaysia during 2024.
8.3 million common shares purchased and cancelled from December 2023 to early December 2024 under IPC’s 2023/2024 NCIB and a further 2.2 million common shares purchased for cancellation during December 2024 and January 2025 under the renewed 2024/2025 NCIB.
In Q3 2024, published IPC’s fifth annual Sustainability Report.

2024 Financial Highlights

Operating costs per boe of USD 18.2 for the fourth quarter of 2024 and USD 17.0 for the full year, in line with the most recent 2024 guidance of less than USD 18.0 per boe for the full year.⁽³⁾
Strong operating cash flow (OCF) generation for the fourth quarter and full year 2024 amounted to MUSD 78 and MUSD 342, respectively.⁽³⁾
Capital and decommissioning expenditures of MUSD 129 for the fourth quarter and MUSD 442 for the full year 2024, in line with the full year guidance of MUSD 437.
Free cash flow (FCF) generation for the full year 2024 of negative MUSD 135, with negative FCF generation of MUSD 61 for the fourth quarter in line with expectations and taking into account the significant capital expenditures during the quarter in respect of the Blackrod project. FCF for the full year 2024, before 2024 Blackrod Phase 1 development expenditure of MUSD 351, was MUSD 216.⁽³⁾
Net debt of MUSD 209 and gross cash of MUSD 247 as at December 31, 2024.⁽³⁾
Net result of MUSD 0.4 for the fourth quarter of 2024 and MUSD 102 for the full year 2024.
Entered into a letter of credit facility in Canada during 2024 to cover operational letters of credit, giving full availability under IPC’s undrawn CAD 180 million Revolving Credit Facility.

Reserves and Resources

Total 2P reserves as at December 31, 2024 of 493 MMboe, with a reserve life index (RLI) of 31 years.⁽¹⁾⁽²⁾
Contingent resources (best estimate, unrisked) as at December 31, 2024 of 1,107 MMboe.⁽¹⁾⁽²⁾
2P reserves net asset value (NAV) as at December 31, 2024 of MUSD 3,083 (10% discount rate).^(1)(2)(⁵⁾⁽⁶⁾

2025 Annual Guidance

Full year 2025 average net production forecast at 43,000 to 45,000 boepd.⁽¹⁾
Full year 2025 operating costs forecast at USD 18 to 19 per boe.⁽³⁾
Full year 2025 OCF guidance estimated at between MUSD 210 and 280 (assuming Brent USD 65 to 85 per barrel).⁽³⁾
Full year 2025 capital and decommissioning expenditures guidance forecast at MUSD 320, including MUSD 230 relating to Blackrod capital expenditure.
Full year 2025 FCF ranges from approximately MUSD 80 to 150 (assuming Brent USD 65 to 85 per barrel) before taking into account proposed Blackrod capital expenditures, or negative MUSD 150 to 80 including proposed Blackrod capital expenditures.⁽³⁾

Business Plan Production and Cash Flow Guidance

2025 – 2029 business plan forecasts:
- average net production forecast approximately 57,000 boepd.⁽¹⁾⁽⁸⁾
- capital expenditure forecast of USD 8 per boe, including USD 3 per boe for growth expenditure.⁽⁸⁾
- operating costs forecast of USD 18 to 19 per boe.⁽³⁾⁽⁸⁾
- FCF forecast of approximately MUSD 1,200 to 2,000 (assuming Brent USD 75 to 95 per barrel).⁽³⁾⁽⁸⁾
2030 – 2034 business plan forecasts:
- average net production forecast of approximately 63,000 boepd.⁽¹⁾⁽⁸⁾
- capital expenditure forecast of USD 5 per boe.⁽⁸⁾
- operating costs forecast of USD 18 to 19 per boe.⁽³⁾⁽⁸⁾
- FCF forecast of approximately MUSD 1,600 to 2,600 (assuming Brent USD 75 to 95 per barrel).⁽³⁾⁽⁸⁾

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Revenue	199,124		198,460		797,783		853,906
Gross profit	42,774		39,955		210,171		250,514
Net result	415		29,710		102,219		172,979
Operating cash flow ⁽³⁾	78,158		73,634		341,989		353,048
Free cash flow ⁽³⁾	(61,476	)	(64,688	)	(135,497	)	2,689
EBITDA ⁽³⁾	76,184		66,284		335,488		350,618
Net Cash / (Debt) ⁽³⁾	(208,528	)	58,043		(208,528	)	58,043

IPC was launched in 2017 by way of spinning off the non-Norwegian assets from Lundin Energy. The strategy and vision from the outset was to be the international E&P growth vehicle for the Lundin Group by pursuing growth organically and through acquisitions. The foundation of this strategy was and is predicated on maximising long-term stakeholder value through responsible business operations focused on operational excellence and financial resilience to underpin optimal capital allocation decision-making.

We are very pleased with the track record of value creation achieved by the company to date. IPC’s production, reserves, resources and cash flow exposure has increased materially through accretive acquisitions supplemented by base business investment. Excluding the growth capital expenditure assigned to the Blackrod Phase 1 development, over USD 1.5 billion in free cash flow (FCF) has been generated and over USD 0.5 billion has been returned to shareholders in the form of share buybacks since inception. IPC’s current shares outstanding are less than 5% higher than the original shares outstanding upon the formation of the company. IPC is determined to build on the historical success and the growth outlook has never been brighter.⁽³⁾

2024 was a milestone year for the company through successfully delivering the largest capital investment campaign in its history. The record investment was accompanied by strong safety, operational and financial performance. IPC returned USD 102 million of value to shareholders in the year through share repurchases, whilst maintaining a strong balance sheet.

Oil prices were rangebound in 2024 between Brent USD 70 to 90 per barrel, with a full year Brent average of USD 81 per barrel, in line with our original oil price sensitivities guided at CMD. The fourth quarter 2024 Brent price averaged USD 75 per barrel, the lowest quarterly price average in the year. The downward trend in benchmark oil prices through the second half of 2024 has been slightly reversed in current time as continuous crude inventory draws, strong demand, underwhelming non-OPEC production growth and continued OPEC production curtailments have supported the market balance. A new administration in the White House presents uncertainty for the oil market, as looming tariffs and sanctions pose a risk to global supply chain systems and trade flows. Around 40% of our 2025 Dated Brent and WTI exposure is hedged at USD 76 per barrel and USD 71 per barrel respectively.

The fourth quarter 2024 WTI to WCS price differentials averaged less than USD 13 per barrel, around USD 2 per barrel lower than the full year average of USD 15 per barrel. The fourth quarter differential was the lowest quarterly average since the Covid pandemic in 2020 when benchmark oil prices were more than USD 30 per barrel less than current levels. The TMX pipeline is driving the tighter differentials with excess take-away capacity in the Western Canadian Sedimentary Basin (WCSB) relative to supply. Close to 50% of our 2025 WCS to WTI differential exposure is hedged at USD 14 per barrel, which should assist in mitigating adverse effects of potential US tariffs on Canadian production.

Natural gas prices averaged CAD 1.5 per Mcf for 2024 and in the fourth quarter. Western Canada gas storage levels continue to sit above the five-year range. This is in part due to delays of the LNG Canada start-up project which was supposed to be onstream at end 2024, start-up is now anticipated for mid-2025. IPC has around 9,600 Mcf per day hedged at CAD 2.6 per Mcf for 2025.

Fourth Quarter and Full Year 2024 Highlights

During the fourth quarter of 2024, IPC’s assets delivered average net production of 47,400 boepd, in line with guidance for the quarter. Full year 2024 average net production of 47,400 boepd was above the 2024 mid-point guidance range of 46,000 to 48,000 boepd.⁽¹⁾

IPC’s operating costs per boe for the fourth quarter of 2024 was USD 18.2. Full year 2024 operating costs per boe was USD 17.0, in line with the most recent 2024 annual guidance of less than USD 18 per boe.⁽³⁾

Operating cash flow (OCF) generation for the fourth quarter of 2024 was USD 78 million. Full year 2024 OCF was USD 342 million in line with the most recent guidance of USD 335 to 342 million.⁽³⁾

Capital and decommissioning expenditure for the fourth quarter of 2024 was USD 129 million. Full year 2024 capital and decommissioning expenditure of USD 442 million was in line with guidance of USD 437 million.

Free cash flow (FCF) generation was in line with guidance at negative USD 61 million during the fourth quarter of 2024, reflecting the higher level of capital expenditure on the Blackrod Phase 1 development project. Full year 2024 FCF generation was negative USD 135 million, in line with the most recent guidance of negative USD 140 to 133 million.⁽³⁾

As at December 31, 2024, IPC’s net debt position was USD 209 million. IPC’s gross cash on the balance sheet amounts to USD 247 million which provides IPC with significant financial strength to continue progressing its strategies in 2025, including advancing the Blackrod development project, returning value to shareholders through the 2024/2025 NCIB, and remaining opportunistic to mergers and acquisitions activity.⁽³⁾

Blackrod Project

The Blackrod asset is 100% owned by IPC and hosts the largest booked reserves and contingent resources within the IPC portfolio. After more than a decade of pilot operations, subsurface delineation and commercial engineering studies, IPC sanctioned the Phase 1 Steam Assisted Gravity Drainage (SAGD) development in the first quarter of 2023. The Phase 1 development targets 259 MMboe of 2P reserves, with a multi-year forecast capital expenditure of USD 850 million to first oil planned in late 2026. The Phase 1 development is planned for plateau production of 30,000 bopd which is expected by early 2028.⁽¹⁾⁽²⁾

As at the end of 2024, USD 591 million of cumulative growth capital, has been spent on the Blackrod Phase 1 development since sanction with a peak annual investment of USD 351 million incurred in 2024. Significant progress has been made across all key scopes of the project including but not limited to: detailed engineering, procurement, fabrication, drilling, construction, third party transport pipelines, commissioning and operations planning. Site health and safety control has been excellent with zero lost time incidents since commercial development activities commenced.

Looking forward, USD 230 million is planned to be spent in 2025 mainly relating to advancing the remaining fabrication, construction and substantial completion of the Central Processing Facility (CPF) for the Phase 1 development. The remaining growth capital expenditure to first oil is forecast to be spent in 2026 on drilling, completions and commissioning of the CPF with first steam anticipated by end Q1 2026.

IPC is strongly positioned to deliver within plan with a clear line of sight to start-up. The Blackrod Phase 1 project is expected to generate significant value for all our stakeholders. And with over 1 billion barrels of best estimate contingent resources (unrisked) beyond Phase 1, IPC is pleased to announce a resource maturation plan that sees significant volume maturation into reserves through low cost of less than USD 0.15 per barrel. The 2P reserves attributable to Phase 1 has increased by 40 MMboe to 259 MMboe from year end 2023 to year end 2024.⁽²⁾

As at the end of 2024, 70% of the Blackrod Phase 1 development capital had been spent since the project sanction in early 2023. All major work streams are progressing as planned and the focus continues to be on executing the detailed sequencing of events as facility modules are safely delivered and installed at site. The total Phase 1 project guidance of USD 850 million capital expenditure to first oil in late 2026 is unchanged. IPC intends to fund the remaining Blackrod Phase 1 development costs with forecast cash flow generated by its operations and cash on hand.

Stakeholder Returns: Normal Course Issuer Bid

During the period of December 5, 2023 to December 4, 2024, IPC purchased and cancelled an aggregate of approximately 8.3 million common shares under the 2023/2024 NCIB. The average price of shares purchased under the 2023/2024 NCIB was SEK 131 / CAD 17 per share.

In Q4 2024, IPC announced the renewal of the NCIB, with the ability to repurchase up to approximately 7.5 million common shares over the period of December 5, 2024 to December 4, 2025. Under the 2024/2025 NCIB, IPC repurchased and cancelled approximately 0.8 million common shares in December 2024. By the end of January 2025, IPC repurchased for cancellation over 1.4 million common shares under the 2024/2025 NCIB. The average price of common shares purchased under the 2024/2025 NCIB during December 2024 and January 2025 was SEK 135 / CAD 17.5 per share.

As at February 7, 2025, IPC had a total of 117,781,927 common shares issued and outstanding, of which IPC holds 508,853 common shares in treasury.

Under the 2024/2025 NCIB, IPC may purchase and cancel a further 5.3 million common shares by December 4, 2025. This would result in the cancellation of 6.2% of shares outstanding as at the beginning of December 2024. IPC continues to believe that reducing the number of shares outstanding while in parallel investing in material production growth at Blackrod will prove to be a winning formula for our stakeholders.

Environmental, Social and Governance (ESG) Performance

As part of IPC’s commitment to operational excellence and responsible development, IPC’s objective is to reduce risk and eliminate hazards to prevent occurrence of accidents, ill health, and environmental damage, as these are essential to the success of our business operations. During the fourth quarter and for the full year 2024, IPC recorded no material safety or environmental incidents.

As previously announced, IPC targets a reduction of our net GHG emissions intensity by the end of 2025 to 50% of IPC’s 2019 baseline and IPC remains on track to achieve this reduction. During 2024, IPC announced the commitment to remain at end 2025 levels of 20 kg CO2/boe through to the end of 2028.⁽⁴⁾

Reserves, Resources and Value

As at the end of December 2024, IPC’s 2P reserves are 493 MMboe. During 2024, IPC replaced 251% of the annual 2024 production. The reserves life index (RLI) as at December 31, 2024, is approximately 31 years.⁽¹⁾⁽²⁾

The net present value (NPV) of IPC’s 2P reserves as at December 31, 2024 was USD 3.3 billion. IPC’s net asset value (NAV) was USD 3.1 billion or SEK 287 / CAD 37 per share as at December 31, 2024.⁽¹⁾⁽²⁾⁽⁵⁾⁽⁶⁾⁽⁷⁾

In addition, IPC’s best estimate contingent resources (unrisked) as at December 31, 2024 are 1,107 MMboe, of which 1,025 MMboe relate to future potential phases of the Blackrod project.⁽¹⁾⁽²⁾

2025 Budget and Operational Guidance

IPC is pleased to announce its 2025 average net production guidance is 43,000 to 45,000 boepd. IPC forecasts operating costs for 2025 between USD 18 and 19 per boe.⁽¹⁾⁽³⁾

IPC’s 2025 capital and decommissioning expenditure budget is USD 320 million, with USD 230 million forecast relating to Blackrod capital expenditure. The remainder of the 2025 budget in Canada includes drilling and ongoing optimization work at Onion Lake Thermal and Suffield Area assets. IPC also plans to advance the next phase of infill drilling and complete well maintenance works at the Bertam field in Malaysia. IPC expects to conduct technical studies for future development potential in France. In all of IPC’s areas of operation, IPC has significant flexibility to control its pace of spend based on the development of commodity prices during 2025.

Notwithstanding a modest production decline expected in 2025, IPC’s production per share metric remains largely unchanged relative to 2024 and 2023. IPC has prioritised capital allocation to the transformational Blackrod Phase 1 development and share buybacks as opposed to further increasing its base business investment to preserve balance sheet strength and maximise long- term shareholder value.

Further details regarding IPC’s proposed 2025 budget and operational guidance will be provided at IPC’s Capital Markets Day presentation to be held on February 11, 2025 at 15:00 CET. A copy of the Capital Markets Day presentation will be available on IPC’s website at www.international-petroleum.com.

Notes:

(1) See “Supplemental Information regarding Product Types” in “Reserves and Resources Advisory” below. See also the material change report (MCR) available on IPC’s website at www.international-petroleum.com and filed on the date of this press release under IPC’s profile on SEDAR+ at www.sedarplus.ca.
(2) See “Reserves and Resources Advisory“ below. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of NPV, are described in the MCR. The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd. Reserves replacement ratio is based on 2P reserves of 468 boe as at December 31, 2024, sales production during 2024 of 16.6 MMboe, net additions to 2P reserves during 2024 of 41.7 MMboe, and 2P reserves of 493 MMboe as at December 31, 2024.
(3) Non-IFRS measure, see “Non-IFRS Measures” below and in the MD&A.
(4) Emissions intensity is the ratio between oil and gas production and the associated carbon emissions, and net emissions intensity reflects gross emissions less operational emission reductions and carbon offsets.
(5) Net present value (NPV) is after tax, discounted at 10% and based upon the forecast prices and other assumptions further described in the MCR. See “Reserves and Resources Advisory” below.
(6) Net asset value (NAV) is calculated as NPV less net debt of USD 209 million as at December 31, 2024.
(7) NAV per share is based on 119,059,315 IPC common shares as at December 31, 2024, being 119,169,471 common shares outstanding less 110,156 common shares held in treasury and cancelled in January 2025. NAV per share is not predictive and may not be reflective of current or future market prices for IPC common shares.
(8) Estimated FCF generation is based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, including net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the MCR. IPC’s market capitalization is at close on January 31, 2025 (USD 1,557 million based on 146.8 SEK/share, 117.7 million IPC shares outstanding (net of treasury shares) and exchange rate of 11.10 SEK/USD). IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts. See “Forward-Looking Statements” and “Non-IFRS Measures” below.

International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

For further information, please contact:

Rebecca Gordon SVP Corporate Planning and Investor Relations rebecca.gordon@international-petroleum.com Tel: +41 22 595 10 50		Or		Robert Eriksson Media Manager reriksson@rive6.ch Tel: +46 701 11 26 15

This information is information that International Petroleum Corporation is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07:30 CET on February 11, 2025. The Corporation’s audited condensed consolidated financial statements (Financial Statements) and management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2024 have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Corporation’s website (www.international-petroleum.com).

Forward-Looking Statements
This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

Forward-looking statements include, but are not limited to, statements with respect to:

2025 production ranges (including total daily average production), production composition, cash flows, operating costs and capital and decommissioning expenditure estimates;
Estimates of future production, cash flows, operating costs and capital expenditures that are based on IPC’s current business plans and assumptions regarding the business environment, which are subject to change;
IPC’s financial and operational flexibility to navigate the Corporation through periods of volatile commodity prices;
The ability to fully fund future expenditures from cash flows and current borrowing capacity;
IPC’s intention and ability to continue to implement its strategies to build long-term shareholder value;
The ability of IPC’s portfolio of assets to provide a solid foundation for organic and inorganic growth;
The continued facility uptime and reservoir performance in IPC’s areas of operation;
Development of the Blackrod project in Canada, including estimates of resource volumes, future production, timing, regulatory approvals, third party commercial arrangements, breakeven oil prices and net present values;
Current and future production performance, operations and development potential of the Onion Lake Thermal, Suffield, Brooks, Ferguson and Mooney operations, including the timing and success of future oil and gas drilling and optimization programs;
The potential improvement in the Canadian oil egress situation and IPC’s ability to benefit from any such improvements;
The ability of IPC to achieve and maintain current and forecast production in France and Malaysia;
The intention and ability of IPC to acquire further common shares under the NCIB, including the timing of any such purchases;
The return of value to IPC’s shareholders as a result of the NCIB;
IPC’s ability to implement its GHG emissions intensity and climate strategies and to achieve its net GHG emissions intensity reduction targets;
IPC’s ability to implement projects to reduce net emissions intensity, including potential carbon capture and storage;
Estimates of reserves and contingent resources;
The ability to generate free cash flows and use that cash to repay debt;
IPC’s continued access to its existing credit facilities, including current financial headroom, on terms acceptable to the Corporation;
IPC’s ability to identify and complete future acquisitions;
Expectations regarding the oil and gas industry in Canada, Malaysia and France, including assumptions regarding future royalty rates, regulatory approvals, legislative changes, and ongoing projects and their expected completion; and
Future drilling and other exploration and development activities.

Statements relating to “reserves” and “contingent resources” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and that the reserves and resources can be profitably produced in the future. Ultimate recovery of reserves or resources is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These include, but are not limited to general global economic, market and business conditions, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations.

Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in the MD&A (See “Risk Factors”, “Cautionary Statement Regarding Forward-Looking Information” and “Reserves and Resources Advisory” therein), the Corporation’s material change report dated February 11, 2025 (MCR), the Corporation’s Annual Information Form (AIF) for the year ended December 31, 2023, (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

Management of IPC approved the production, operating costs, operating cash flow, capital and decommissioning expenditures and free cash flow guidance and estimates contained herein as of the date of this press release. The purpose of these guidance and estimates is to assist readers in understanding IPC’s expected and targeted financial results, and this information may not be appropriate for other purposes.

Estimated FCF generation is based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, including net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the MCR. IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts.

Non-IFRS Measures
References are made in this press release to “operating cash flow” (OCF), “free cash flow” (FCF), “Earnings Before Interest, Tax, Depreciation and Amortization” (EBITDA), “operating costs” and “net debt”/”net cash”, which are not generally accepted accounting measures under International Financial Reporting Standards (IFRS) and do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable with similar measures presented by other public companies. Non-IFRS measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

The definition of each non-IFRS measure is presented in IPC’s MD&A (See “Non-IFRS Measures” therein).

Operating cash flow
The following table sets out how operating cash flow is calculated from figures shown in the Financial Statements:

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Revenue	199,124		198,460		797,783		853,906
Production costs and net sales of diluent to third party¹	(119,371	)	(126,414	)	(447,481	)	(491,303	)
Current tax	(1,595	)	1,588		(8,313	)	(14,457	)
Operating cash flow	78,158		73,634		341,989		348,146

¹ Include net sales of diluent to third party amounting to USD 737 thousand for the fourth quarter of 2024 and the year ended December 31, 2024.

The operating cash flow for the year ended December 31, 2023 including the operating cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 353,048 thousand.

Free cash flow
The following table sets out how free cash flow is calculated from figures shown in the Financial Statements:

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Operating cash flow – see above	78,158		73,634		341,989		348,146
Capital expenditures	(126,256	)	(128,825	)	(434,713	)	(312,729	)
Abandonment and farm-in expenditures¹	(3,364	)	(1,516	)	(8,302	)	(9,199	)
General, administration and depreciation expenses before depreciation²	(3,569	)	(5,762	)	(14,814	)	(16,886	)
Cash financial items³	(6,445	)	(2,219	)	(19,657	)	(5,812	)
Free cash flow	(61,476	)	(64,688	)	(135,497	)	3,520

¹ See note 19 to the Financial Statements
² Depreciation is not specifically disclosed in the Financial Statements
³ See notes 5 and 6 to the Financial Statements

The free cash flow for the year ended December 31, 2023 including the free cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 2,689 thousand. Free cash flow is before shareholder distributions and financing costs.

EBITDA
The following table sets out the reconciliation from net result from the consolidated statement of operations to EBITDA:

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Net result	415		29,710		102,219		172,979
Net financial items	35,767		6,509		59,709		22,736
Income tax	3,852		4,691		33,325		55,362
Depletion and decommissioning costs	32,087		30,434		128,392		101,922
Depreciation of other tangible fixed assets	2,430		1,309		8,933		7,812
Exploration and business development costs	1,725		348		2,069		2,355
Depreciation included in general, administration and depreciation expenses¹	308		389		1,241		1,569
Sale of assets²	(400	)	(7,106	)	(400	)	(19,018	)
EBITDA	76,814		66,284		335,488		345,717

¹ Item is not shown in the Financial Statements
² Sale of assets is included under “Other income/(expense)” but not specifically disclosed in the Financial Statements

The EBITDA for the year ended December 31, 2023 including the EBITDA contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 350,618 thousand.

Operating costs
The following table sets out how operating costs is calculated:

	Three months ended December 31				Year ended December 31
USD Thousands	2024		2023		2024		2023
Production costs	120,108		126,414		448,218		491,303
Cost of blending	(36,036	)	(44,473	)	(152,735	)	(172,996	)
Change in inventory position	(4,633	)	1,427		(1,473	)	3,655
Operating costs	79,439		83,368		294,010		321,962

The operating costs for the year ended December 31, 2023 including the operating costs contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 328,763 thousand.

Net cash / (debt)
The following table sets out how net cash / (debt) is calculated from figures shown in the Financial Statements:

USD Thousands	December 31, 2024		December 31, 2023
Bank loans	(5,121	)	(9,031	)
Bonds¹	(450,000	)	(450,000	)
Cash and cash equivalents	246,593		517,074
Net cash / (debt)	(208,528	)	58,043

¹ The bond amount represents the redeemable value at maturity (February 2027).

Reserves and Resources Advisory
This press release contains references to estimates of gross and net reserves and resources attributed to the Corporation’s oil and gas assets. For additional information with respect to such reserves and resources, refer to “Reserves and Resources Advisory” in the MD&A and the MCR. Light, medium and heavy crude oil reserves/resources disclosed in this press release include solution gas and other by-products. Also see “Supplemental Information regarding Product Types” below.

Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in Canada are effective as of December 31, 2024, and are included in the reports prepared by Sproule Associates Limited (Sproule), an independent qualified reserves evaluator, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and using Sproule’s December 31, 2024 price forecasts.

Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in France and Malaysia are effective as of December 31, 2024, and are included in the report prepared by ERC Equipoise Ltd. (ERCE), an independent qualified reserves auditor, in accordance with NI 51-101 and the COGE Handbook, and using Sproule’s December 31, 2024 price forecasts.

The price forecasts used in the Sproule and ERCE reports are available on the website of Sproule (sproule.com) and are contained in the MCR. These price forecasts are as at December 31, 2024 and may not be reflective of current and future forecast commodity prices.

The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd. Reserves replacement ratio is based on 2P reserves of 468 MMboe as at December 31, 2023, sales production during 2024 of 16.6 MMboe, net additions to 2P reserves during 2024 of 41.7 MMboe and 2P reserves of 493 MMboe as at December 31, 2024.

The reserves and resources information and data provided in this press release present only a portion of the disclosure required under NI 51-101. All of the required information will be contained in the Corporation’s Annual Information Form for the year ended December 31, 2024, which will be filed on SEDAR+ (accessible at www.sedarplus.ca) on or before April 1, 2025. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of net present value and other relevant information related to the contingent resources disclosed, is disclosed in the MCR available under IPC’s profile on www.sedarplus.ca and on IPC’s website at www.international-petroleum.com.

IPC uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). A BOE conversion ratio of 6:1 is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value.

Supplemental Information regarding Product Types

The following table is intended to provide supplemental information about the product type composition of IPC’s net average daily production figures provided in this press release:

	Heavy Crude Oil (Mbopd)	Light and Medium Crude Oil (Mbopd)	Conventional Natural Gas (per day)	Total (Mboepd)
Three months ended
December 31, 2024	24.3	7.1	95.9 MMcf (16.0 Mboe)	47.4
December 31, 2023	25.7	6.6	103.8 MMcf (17.3 Mboe)	49.6
Year ended
December 31, 2024	23.9	7.7	95.1 MMcf (15.8 Mboe)	47.4
December 31, 2023	25.8	8.1	102.8 MMcf (17.1 Mboe)	51.1

This press release also makes reference to IPC’s forecast total average daily production of 43,000 to 45,000 boepd for 2025. IPC estimates that approximately 55% of that production will be comprised of heavy oil, approximately 12% will be comprised of light and medium crude oil and approximately 33% will be comprised of conventional natural gas.

Currency
All dollar amounts in this press release are expressed in United States dollars, except where otherwise noted. References herein to USD mean United States dollars. References herein to CAD mean Canadian dollars.

The MIL Network –

February 11, 2025

MIL-OSI Australia: NTES crews deployed to QLD to assist with flood emergency

Source: Northern Territory Police and Fire Services

NT Emergency Service deployed 6 volunteers and 1 staff member to Queensland early Sunday, to assist with the current flood emergency unfolding in the far north.

The region has been impacted by extreme rainfall, resulting in extensive flooding that is expected to continue for several days. Relief and recovery efforts will continue for weeks due to the extent of the flooding and damage across the region.

The Queensland Government formally requested assistance from all jurisdictions throughout Australia on Tuesday afternoon, promoting a response from NTES who have arranged for a contingent to fly to Townsville commencing on Sunday.

The team, consisting of volunteers and staff from Darwin, Palmerston, Nhulunbuy and Katherine will assist with relief and recovery tasks such as debris removal, community engagement, flood boat resupply and evacuation centre operations.

NT Fire and Emergency Services Commissioner, Andrew Warton, said the NT volunteers were highly trained and up for the task of helping their colleagues at QLD State Emergency Service.

“Our dedicated volunteers and staff members are more than happy to step up and assist during this critical time,” he said.

“Given the scale of the flooding emergency, the QLD SES has requested additional capacity to aid in the response efforts. Our first team of six will assist with a range of tasks that they’re well prepared and experienced in delivering”

“While flooding is not uncommon in North Queensland, the vastness of this event and impact it has had on so many communities in the region is extremely challenging and has exhausted QLD SES resources – out thoughts are with all of those impacted and the selfless volunteers on the front line.”

This deployment highlights the dedication and core values of NTES. Many of these individuals put their personal lives on hold to assist communities, as well as others in need during times of crisis.

The recent formation of the NT Fire and Emergency Services, which combines the NT Fire and Rescue Service, NT Emergency Service, and Bushfires NT into one agency, enhances our ability to respond to emergencies while prioritising community resilience.

Media contact:

Rickie Abraham

89239803

MIL OSI News –

February 11, 2025
MIL-Evening Report: Social media groups can offer support to new parents. Here’s how to tell if there’s marketing involved
Source: The Conversation (Au and NZ) – By Nicole Bridges, Senior Lecturer in Public Relations and Director of Academic Program – Communication, Creative Industries, Screen Media, Western Sydney University

Stock Rocket/Shutterstock

For new parents struggling with challenges such as breastfeeding and sleep deprivation, social media can be a great place to turn for advice. Digital platforms such as Facebook and Reddit host a range of groups that offer peer support and information.

Research shows connecting with other new parents can also foster a sense of community.

But there is growing concern businesses and influencers may also be using groups to push certain products and services.

In recent media reports, new parents have described feeling misled, after discovering the parent support group they thought was founded by a local mum was run by a media company owner and monetised through advertising.

So how can you identify when commercial interests are involved?

Here’s what to look out for to get the best from online parenting groups.

How can social media groups help?

In Australia, closed Facebook groups are a popular choice for parents accessing free peer support and information online. Closed groups are not public – they are run by administrators and moderators who can approve requests from other users for membership.

These groups are often started by not-for-profit organisations or parents themselves and have a number of benefits. Parents can connect with others, share experiences, seek advice and learn about different parenting approaches.

This can be particularly useful for people in remote and regional areas who may find it harder to access in-person support, and was essential during COVID lockdowns.

My research with colleagues has revealed the important role these groups can play.

In several studies we have looked at how parents use closed Facebook groups facilitated by the Australian Breastfeeding Association.

Over four weeks, we tracked the frequency and type of posts, the number and nature of the comments, and how parents felt about the support they received in these groups.

We found they provided information and emotional support group members could trust because they were facilitated by trained peer breastfeeding counsellors and other mothers.

This is significant because we know lack of breastfeeding support is often cited by mothers as one of the key reasons for premature weaning.

The group administrators played an important role responding to queries and making sure discussions stuck to the association’s code of ethics.

This code encourages mutual respect, sharing evidence-based information, and co-operation with health professionals. It also discourages the promotion of products and services.

Our research has shown the value of accessing trusted information and sharing experiences in a supportive community, where human connection is centred rather than products.

Online groups can help parents connect to a community.
AnnaStills/Shutterstock

What’s the problem with monetising groups?

When access to parenting support and information is limited or biased, it can have serious consequences for those already facing challenges with parenting.

Let’s imagine an example. A group member is posting about birth trauma. But in responding, other members aren’t allowed to mention local service providers – for example, counselling – because they are not paid sponsors of the group.

This means advice is skewed towards organisations that can afford to pay for sponsorship and be mentioned.

As a result, new parents might not find out about the range of not-for-profit support groups that can help them with important challenges like breastfeeding and postpartum mental health.

This deceptive practice can erode trust within online communities. Users may perceive the platform as prioritising profit over the wellbeing of its members, which can reduce engagement and the overall quality of the group.

It may also leave new parents – who are particularly vulnerable to unethical marketing – open to exploitation.

What can we do?

Protecting parents from commercialised social media groups requires a multifaceted approach.

First, regulation is crucial, such as ensuring that social media groups are transparent about any commercial interests, and commercial entities are marketing their products ethically.

Second, we need public awareness campaigns to educate parents about the potential biases and risks associated with commercialised platforms. This includes fostering media literacy skills to critically evaluate information and identify reliable sources.

Finally, collaboration between policymakers, researchers, industry representatives, and parent advocacy groups is vital to develop effective solutions that address these challenges.

Parents may already be dealing with challenges such as sleep deprivation.
Ground Picture/Shutterstock

What should I look out for?

To protect yourself from misinformation in online parenting groups, it’s crucial to be critical of information sources. It’s a good idea to:
- watch out for warning signs like excessive product promotion, lack of transparency about group affiliations, and a primary focus on selling. For example, when joining a closed Facebook group, read the page’s “about” section. If there is mention of advertising or sponsorship, this is a red flag
- look at who the “admins” are. If listed admins include business names that can also be a cause for concern
- check out the list of “members”. If the group accepts “pages” (which are often run by businesses) in addition to individual people, this is also a sign that commercial interests are at play.
- look for groups focused on sharing experiences, offering support, and building authentic relationships
- observe how members interact and how heavily the groups are moderated and censored, and seek out groups with diverse perspectives
- when you join the group, carefully consider the group rules that you are agreeing to and what they say about mentioning support services, and the promotion of commercial products. Will this mean that you may be censored or receive censored information?
Always cross-reference information with reputable sources like government organisations (such as the Raising Children Network or Australian Breastfeeding Association) and compare information from multiple sources to get a balanced perspective.

Finally, trust your instincts. If a group feels “off” or overly promotional, don’t hesitate to leave.

Nicole Bridges is a volunteer breastfeeding counsellor and educator with the Australian Breastfeeding Association.

– ref. Social media groups can offer support to new parents. Here’s how to tell if there’s marketing involved – https://theconversation.com/social-media-groups-can-offer-support-to-new-parents-heres-how-to-tell-if-theres-marketing-involved-247212
MIL OSI Analysis – EveningReport.nz –
February 11, 2025
MIL-Evening Report: Australia improves on global corruption rankings, but there is still work to be done

Source: The Conversation (Au and NZ) – By A J Brown, Professor of Public Policy & Law, Centre for Governance & Public Policy, Griffith University

Australia has turned the corner on its decade-long slide on Transparency International’s annual Corruption Perceptions Index (CPI), once again ranking in the top ten least corrupt countries in the world. The fresh ranking comes just ahead of a federal election, which will determine the future of many key anti-corruption reforms.

In the latest 2024 index, Australia rose two points to a score of 77 on the 100-point scale. The index is the world’s most widely cited indicator of how countries are faring in controlling corruption in government.

The result confirms a positive trend, placing Australia back in the top 10 countries for the first time since 2016. It now sits at equal 10th alongside Iceland and Ireland.

In 2012, Australia was ranked as the 7th least corrupt country in the world, with a score of 85 out of 100. But by 2021 it had fallen to a score of 73 and 18th place on the index.

With that fall widely attributed to a decade of complacency and foot-dragging on efforts to bolster integrity in government, the confirmed recovery is a major affirmation of reforms of the past three years. It also highlights some stark choices for policymakers heading into the 2025 federal election.

The best – and worst – places for corruption

Globally, Denmark again tops the index with a score of 90, followed by Finland on 88. The most corrupt countries in the world are Venezuela (10), Somalia (9) and South Sudan (8).

However, the global outlook is highly challenging. Over the past ten years, many more countries have now declined significantly in their anti-corruption scores (47 countries) than have improved on the index (32 countries).

Australia’s recovery is therefore now bucking a negative trend, including the “integrity complacency” still affecting many other developed countries. The United Kingdom (71/100) and United States (65/100) have now fallen to their own lowest-ever scores on the index.

The index is compiled from 13 independent surveys of professional and expert perceptions of public sector corruption across the world. Nine sources were used to inform Australia’s result – including include Freedom House, the World Justice Project and the World Bank’s Executive Opinion Survey.

Two sources had Australia still declining, including the global academic-led Varieties of Democracy (V-Dem) Project. However, six sources rate Australia as improving, led by the Economist Intelligence Unit’s assessment, conducted most recently in September 2024.

Australian reforms are making a difference

There’s now little doubt that the federal integrity reforms of the past three years are a major reason for Australia’s new direction of travel. These include the creation of the National Anti-Corruption Commission in 2022, as well as the long overdue strengthening of Australia’s foreign bribery laws in 2024. A renewed commitment to the global Open Government Partnership, much of the response to Robodebt, and measures to strengthen merit in public appointments, such as replacement of the Administrative Appeals Tribunal, have also helped.

Long overdue anti-money laundering laws were also introduced late in 2024, beyond the time frame for data collection for the latest index. While the impact of these on expert opinion will be known in the future, they highlight that much of the business of Australia’s anti-corruption “catch up” is unfinished and ongoing.

The result poses a challenge for any policymakers suffering under the illusion that Australia’s integrity systems are somehow “fixed”.

From an international perspective, Australia is yet to move to control secret and sham company ownerships – the major vehicle used to hide bribes and stolen public money. This is despite championing transparency in the beneficial ownership of companies since hosting the G20 in 2014.

The need to bring transparency and integrity to federal political donation and funding laws continues to overshadow the last weeks of the 47th parliament. Negotiations between the major parties have failed to inspire confidence among independents, and much of the public.

Effective control of undue influence in decision-making, pork-barrelling, professional lobbying and “revolving door” jobs for politicians and public servants are ongoing challenges.

And in a clear signal to both the Labor government and the Coalition, a team of cross-benchers, led by independent Andrew Wilkie, have introduced a bill to establish a Whistleblower Protection Authority. This remains the single biggest gap in Australia’s integrity system and the most major anti-corruption reform still needed.

Even before Australia hit its 2022 low, some leaders were softening citizens up to accept a reduced position on the index. In 2018, Coalition Attorney-General Christian Porter claimed Australia had remained “consistently in the top 20 countries on Earth for low corruption”. This prompted independent Rebekha Sharkie to point out that Australia had fallen from the top ten: “the trajectory is not good”.

By contrast, Labor leader Anthony Albanese went into the last election accusing the Morrison government of dragging Australia down on corruption, and promising Labor would do better. He said:

The health of our democracy, the integrity of our institutions, the transparency and fairness of our laws, the harmony and cohesion of our population. These aren’t just noble ideals. They are a powerful defence against the threat of modern authoritarianism.

Amid the challenges, there is hope. The federal parliament’s reform record of the past three years is clearly a big step in the right direction.

However, the climb back to 77 on the Corruption Perceptions Index shows it’s clearly just the first step in securing Australia’s reputation as a democracy that protects itself against undue influence and abuse of power.

A J Brown AM is Chair of Transparency International Australia. He has received funding from the Australian Research Council and all Australian governments for research on public interest whistleblowing, integrity and anti-corruption reform through partners including Australia’s federal and state Ombudsmen and other regulatory agencies, parliaments, anti-corruption agencies and private sector bodies. He was a member of the Commonwealth Ministerial Expert Panel on Whistleblowing (2017-2019) and is a member of the Queensland Public Sector Governance Council.

– ref. Australia improves on global corruption rankings, but there is still work to be done – https://theconversation.com/australia-improves-on-global-corruption-rankings-but-there-is-still-work-to-be-done-249458

MIL OSI Analysis – EveningReport.nz –

February 11, 2025
MIL-OSI Asia-Pac: Youth employment expo to be held

Source: Hong Kong Information Services

The Labour Department will hold the Youth Employment Expo in Wan Chai on February 15, with more than 1,200 on-the-job training vacancies on offer for young people aged 29 or below to work locally and in the Greater Bay Area (GBA) Mainland cities.

The expo is an event jointly organised by the Greater Bay Area Youth Employment Scheme, the Youth Employment & Training Programme (YETP) and the Youth Employment Start (Y.E.S.)

A total of 47 organisations from various industries, including airline services, hotels, banking, public services, retail, transport, construction, catering, tourism, security and technology, will join the expo.

The event will be held from 11am to 6pm at the Convention & Exhibition Centre and admission is free. Young job seekers can submit applications on-site and may be selected for on-the-spot interviews.

Additionally, the expo features career talks, sharing sessions, course introduction and demonstration of the programmes, employment consultation, interview preparation consultation and resume photo shooting. Plus, singers plan to share their stories of pursuing their own career developments.

Furthermore, the Youth Entrepreneurship Bazaar will also be run by business members of Y.E.S. at the expo, selling a diverse range of handcrafted and innovative products.

Last year’s Policy Address announced measures to strengthen employment services and support for young people from this year, including relaxing the eligibility requirements for the GBA Youth Employment Scheme to allow young people aged 29 or below with sub-degree or higher qualifications to join the scheme and increasing the allowance granted to enterprises.

Moreover, the upper age limit for YETP participants has been raised to provide employment support services to young people aged 15 to 29 with sub-degree or below qualifications.

Click here for more details about the expo.

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI New Zealand: 2025 Pacific Judicial Conference

Source: New Zealand Governor General

Rau rangatira mā, e huihui nei, tēnei aku mihi nui ki a koutou. Nau mai haere mai ki Te Whare Kawana o Tāmaki Makaurau. Kia ora tātou katoa.

I’d like to specifically acknowledge: Rt Hon Dame Helen Winkelmann, Chief Justice of New Zealand, and Rt Hon Winston Peters, Deputy Prime Minister.

And to all our very distinguished international guests here this evening – including representatives from 15 Pacific Island nations, as well as Singapore, Malaysia, Brunei Darussalam, the Philippines, Australia, the United Kingdom, and the United States of America. I’m delighted to note that Chief Justice of the Federal Court of Australia, The Honourable Debra Mortimer, is in fact a New Zealander from Kaipara.

I understand that the last Pacific Judicial Conference to be held in Aotearoa New Zealand was over ten years ago, in 2014, when my predecessor, Sir Jerry Mateparae, hosted an equivalent gathering here at Government House Auckland. It feels especially fitting that this conference should return to Tāmaki Makaurau, this beautiful city, and one of the world’s most diverse, which has long borne the mantle of Polynesian Capital of the World.

Such a diverse and distinguished gathering no doubt brings with you an immense breadth of experiences, perspectives, and areas of legal expertise.

It was former American Chief Justice, Earl Warren, who once said: ‘It is the spirit and not the form of the law that keeps justice alive.’ As leaders of your respective and highly-diverse judiciaries, I’m sure you find yourselves grappling with many of the same issues: safeguarding judicial independence and respect for the rule of law; the opportunities and dangers of technology; ensuring diversity within the judiciary; geopolitical unrest; and the ongoing existential threat of climate change – all topics I’m heartened to note on the agenda for this conference.

Its overarching theme, ‘Strengthening the Institution of the Judiciary – Kia Tū Pakari ai te Whare Whakawā’, feels particularly apt in the face of such issues – acknowledging, as it does, that without strong and trusted public institutions, society loses its capacity to meet and overcome these challenges.

I trust that these days together afford an environment conducive to rich and challenging discussions, and lay the foundation for lasting relationships and productive collaboration across your judiciaries.

Throughout my own career, straddling both academia and the public sector, I recall how enriching and rewarding I found these kinds of gatherings – leaving me so often deeply inspired, and filled with a renewed sense of purpose as I returned to my role, whether leading a university, or advocating for the wellbeing of children and families.

In this next stage of my career, serving as New Zealand’s Governor-General, I have found myself with my own responsibilities in the application and safeguarding of New Zealand law: responsibilities I hold most sacred. They have also given me a new and profound appreciation for the judiciary, and the demanding work you do in the service of society.

The questions that you contend with fundamentally shape the world we inhabit and share: determining whether or not our societies are fair; whether or not people are treated equally, regardless of gender or beliefs or background; and whether or not our planet will survive.

I acknowledge, in grappling with these questions through the application of the law and your own scrupulous intellectual and moral standards, the great and often lonely responsibility you each bear. However, I have little doubt that you view that responsibility, and your service to your respective countries, not as a burden, but a privilege.

In te reo Māori, we have a whakataukī, or a proverb, which says: ‘Ka kuhu au ki te ture, hei matua mō te pani. I seek refuge in the law for it is a parent to the oppressed.’ I wish to take this opportunity to thank you, for all that you do as parents of the oppressed, and our societies’ upholders of goodness, fairness, and justice.

I also wish to once again thank Dame Helen – our own outstanding Chief Justice – for so graciously stepping into the Administrator’s role whenever I have been fulfilling my vice-regal duties overseas.

To those of you visiting New Zealand for the first time, I hope you have the opportunity to experience a little more of our country while you are here, and to spend some time exploring this beautiful city. In the meantime, I wish you all a most rewarding and enjoyable few days.

Nō reira, tēnā koutou, tēnā koutou, tēnā tātou katoa.

MIL OSI New Zealand News –

February 11, 2025
MIL-OSI New Zealand: Experts chosen for electricity market review

Source: New Zealand Government

The Government has appointed independent experts to review the performance of the electricity markets, Energy Minister Simon Watts and Associate Energy Minister Shane Jones say.

“The power crisis we experienced last winter highlighted how important affordable and secure electricity at internationally competitive prices is to the economic growth and prosperity of Kiwi households and businesses alike,” Mr Watts says.

“Energy security is a top priority for the Coalition Government as the economy electrifies and we work to double New Zealand’s renewable electricity generation. We expect to see market-led approaches to energy security throughout the transition, and we want to make sure the markets are performing effectively.

“This review will help ensure our regulatory settings can deliver on the long-term interests of consumers, keep prices down for Kiwis and keep the lights on.

“From the review’s inception, we were clear that we needed experts capable of bringing a fresh perspective to the complex challenges facing our markets. Those chosen are well-qualified with significant expertise in international electricity market design, risk management, competition policy and financial instruments.”

Mr Jones says New Zealand cannot afford another winter like 2024 in which businesses shut down, manufacturing ground to a halt, and cheap coal was brought in from overseas kept the lights on.

“If we are to grow the economy, we cannot allow a shortage of power to stunt that growth. We are a resourceful nation and our businesses have to be able to continue without worrying whether they can afford the power bill or having to choose between shutting down production or keeping staff.”

Global consultancy Frontier Economics will be the lead reviewer, addressing the seven questions specified in the review’s terms of reference.

The two peer review roles will be taken on by a team of international experts in energy economics with particular expertise in market design. The peer reviewers will provide an added layer of quality assurance and accuracy to ensure the review reports are robust and reliable.

New Zealand-based Concept Consulting will act as New Zealand expert advisor, responsible for ensuring Frontier Economics has solid awareness and understanding of the New Zealand context.

“Collectively, these independent experts bring a wealth of experience, insight, and the fresh perspectives needed for this type of review,” Mr Watts says.

Ministers expect the review’s final reports to be delivered by the end of June, after which Cabinet will make decisions on next steps.

MIL OSI New Zealand News –

February 11, 2025
MIL-OSI Australia: Discover what the World Heritage Listing bid for Victorian Goldfields means at a public talk

Source: State of Victoria Local Government 2

The Victorian Goldfields has been officially included on the UNESCO World Heritage Tentative List and the community can learn more about what this means at a public talk next week.

The public talk is on Monday February 17 from 6pm to 7.30pm at the La Trobe Art Institute, View Street, Bendigo. It is focused on informing the community and local businesses about the positive outcomes if the World Heritage bid is successful.

The Victorian Goldfields are the most extensive, coherent, and best-surviving goldrush landscapes in the world. Obtaining a World Heritage listing is a proven catalyst for new opportunities as seen elsewhere, such as the Great Barrier Reef. The status can lead to immediate and long-term benefits, including investment, tourism, and jobs.

The public talk includes a presentation from the City of Greater Bendigo World Heritage Strategic Projects Officer Trevor Budge who is on the World Heritage Bid Project Team.

There will also be a panel discussion with Euan McGillivray from the Bendigo Historical Society, Chair Bendigo Tourism Board Kath Bolitho, CEO Bendigo Heritage Attractions James Reade, City of Greater Bendigo Manager Economy & Experience James Myatt, and Bendigo Branch President of the National Trust Peter Cox.

World Heritage Strategic Projects Officer Trevor Budge said the tentative listing acknowledged the significance of the Victorian Goldfields.

“The public talk will explain why the Victorian Goldfields are worthy of world recognition, what steps are needed to be ready for the possible final designation in mid 2027, and how the community and businesses can be further involved in this nomination,” Mr Budge said.

“With the support of Traditional Owners, we’re working on a confirmed list of places that ensures the best examples of the lasting legacy of the Victorian Goldfields are celebrated and that this critical piece of Australia’s history is conserved and shared with future generations.

“If this bid succeeds, the benefits for Greater Bendigo and other places in the Victorian Goldfields will be far reaching with a significant increase in tourism from across the world wanting to experience our gold rush story. The economic modelling forecasting estimates a Victorian Goldfields World Heritage site could attract 2.5 million new visitors to the region over 10 years, injecting more than $500M into local economies.”

National Trust Bendigo Branch President Peter Cox said the public talk was a wonderful way for the community to hear about the extraordinary outcomes that could flow from a permanent World Heritage listing.

“Thousands of extra visitors will boost economic activity, create new jobs and investment throughout Victoria with heritage being promoted in many small and large towns. Bendigo’s urban settlement displays many homes from the gold rush era, its architecture of grand buildings is world renowned, and it has many attractions based on tourism that depicts 19th century history.” Mr Cox said.

Getting the Victorian Goldfields on the Tentative List was critical, as Australia can only make one nomination to UNESCO per year and there are many other places from around Australia that were being considered.

The City of Greater Bendigo, City of Ballarat and 13 other local government authorities are involved in the listing bid with support from Traditional Owners.

To register your attendance, please email or SMS:

[email protected]

0447 473 674

MIL OSI News –

February 11, 2025

MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on February 11, 2025

Source: Reserve Bank of India

Tenor	1-day
Notified Amount (in ₹ crore)	2,00,000
Total amount of bids received (in ₹ crore)	2,03,022
Amount allotted (in ₹ crore)	2,00,036
Cut off Rate (%)	6.26
Weighted Average Rate (%)	6.27
Partial Allotment Percentage of bids received at cut off rate (%)	97.01

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2024-2025/2126

MIL OSI Economics –

February 11, 2025

MIL-OSI USA News: Adjusting Imports of Steel into The United States
Source: The White House
class=”has-text-align-center”>BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION
1. On January 11, 2018, the Secretary of Commerce (Secretary) transmitted to me a report on the Secretary’s investigation into the effect of imports of steel mill articles (steel articles) on the national security of the United States under section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862) (section 232). The Secretary found and advised me of his opinion that steel articles are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States.
2. In Proclamation 9705 of March 8, 2018 (Adjusting Imports of Steel Into the United States), I concurred in the Secretary’s finding that steel articles, as defined in clause 1 of Proclamation 9705 (as amended by clause 8 of Proclamation 9711 of March 22, 2018 (Adjusting Imports of Steel Into the United States)), are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States, and decided to adjust the imports of steel articles by imposing a 25 percent ad valorem tariff on such articles imported from most countries. Proclamation 9705 further stated that any country with which the United States has a security relationship is welcome to discuss alternative ways to address the threatened impairment of the national security caused by imports from that country, and noted that, should the United States and that country arrive at a satisfactory alternative means to address the threat to the national security such that the President determines that imports from that country no longer threaten to impair the national security, I may remove or modify the restriction on steel articles imports from that country and, if necessary, adjust the tariff as it applies to other countries, as the national security interests of the United States require.
3. In Proclamation 9705, I also directed the Secretary to monitor imports of steel articles and inform me of any circumstances that in the Secretary‘s opinion might indicate the need for further action under Section 232, as amended, with respect to such imports. Pursuant to Proclamation 9705, the Secretary was authorized to provide relief from the additional duties, based on a request from a directly affected party located in the United States, for any steel article determined not to be produced in the United States in a sufficient and reasonably available amount or of a satisfactory quality, or based upon specific national security considerations.
In subsequent proclamations, I noted the conclusion of discussions or the agreement on certain measures with the Argentine Republic (Argentina), Proclamation 9759 of May 31, 2018 (Adjusting Imports of Steel Into the United States); the Commonwealth of Australia (Australia), Proclamation 9759; the Federative Republic of Brazil (Brazil), Proclamation 9759; Proclamation 10064 of August 28, 2020 (Adjusting Imports of Steel Into the United States); Canada, Proclamation 9894 of May 19, 2019 (Adjusting Imports of Steel Into the United States; the United Mexican States (Mexico), Proclamation 9894; and the Republic of Korea (South Korea), Proclamation 9740 of April 30, 2018 (Adjusting Imports of Steel Into the United States). President Biden noted the conclusion of discussions or the agreement on certain measures with the European Union (EU) on behalf of its member countries, Proclamation 10328 of December 27, 2021 (Adjusting Imports of Steel Into the United States); Proclamation 10691 of December 28, 2023 (Adjusting Imports of Steel Into the United States); Japan, Proclamation 10356 of March 31, 2022 (Adjusting Imports of Steel Into the United States); and the United Kingdom (UK), Proclamation 10406 of May 31, 2022 (Adjusting Imports of Steel Into the United States), on alternative ways to address the threat to the national security. In addition, then-President Biden acknowledged the close relationship with Ukraine and exempted steel articles from Ukraine from the tariff. Proclamation 10403 of May 27, 2022 (Adjusting Imports of Steel Into the United States); Proclamation 10588 of May 31, 2023 (Adjusting Imports of Steel Into the United States); Proclamation 10771 of May 31, 2024 (Adjusting Imports of Steel Into the United States). In Proclamation 10783 of July 10, 2024 (Adjusting Imports of Steel Into the United States), President Biden noted that imports of steel articles from Mexico had increased significantly as compared to their levels at the time of Proclamation 9894. Accordingly, he implemented a melt and pour requirement for imports of steel articles that are products of Mexico and increased the section 232 duty rate for imports of steel articles and derivative steel articles that are products of Mexico that are melted and poured in a country other than Mexico, Canada, or the United States.
- The Secretary has informed me that the initial 25 percent ad valorem tariff imposed by Proclamation 9705 has been an effective means of reducing imports, encouraging investment and expansion of production by domestic steel producers, and mitigating the threatened impairment of U.S. national security. Following the initial imposition of 25 percent ad valorem tariffs, the U.S. steel capacity utilization rate increased to above 80 percent.
- The Secretary has also informed me that, notwithstanding the impact of the tariff imposed by Proclamation 9705, imports of steel articles from certain countries exempted from the tariff or subject to alternative agreements have increased significantly, while excess capacity in the global steel industry has begun to increase again in recent years. For example, imports from Canada increased 18 percent since Canada was excluded from the section 232 tariffs. According to the Organization for Economic Cooperation and Development (OECD), global steel excess capacity is projected to reach approximately 630 million metric tons by 2026, more than total steel production in all OECD countries. At the same time, exports of steel from the People’s Republic of China (China) have recently surged, exceeding 114 million metric tons through November 2024 while displacing production in other countries and forcing them to export greater volumes of steel articles and derivative steel articles to the United States.
- Total steel imports as a share of U.S. consumption increased significantly in 2024, reaching nearly 30 percent, similar to the import share of U.S. consumption at the time the Secretary issued his January 11, 2018, report. Imports from countries with which the United States has reached alternative agreements have increased significantly as a share of total imports, from 74 percent in 2018 to 82 percent in 2024, while imports from countries subject to quantitative restrictions remain elevated regardless of changing U.S. demand conditions and the substantial investments made to expand the capabilities of the domestic industry. Increasing and persistently high import volumes from countries exempted from the duties or subject to other alternative agreements like quotas and tariff-rate quotas have captured the benefit of U.S. demand at the domestic industry’s expense and transmitted harmful effects onto the domestic industry. As steel import market share has increased, the domestic industry’s performance has been depressed, resulting in capacity utilization rates persistently lower than the 80 percent target level highlighted in the Secretary’s report.
- The Secretary has informed me that imports of steel articles from Canada and Mexico have increased significantly to levels that once again threaten to impair U.S. national security. Volumes from both Canada and Mexico increased overall, from 7.77 million metric tons in 2020 to 9.14 million metric tons in 2024. Imports have also surged in excess of historical norms of trade across numerous key product lines, such as long reinforcing bars, which have experienced import increases of 1,678 percent from Mexico and 564 percent from Canada. These surges have occurred while authorities in those countries have supported otherwise uncompetitive producers with subsidies and other interventions that have exacerbated the global excess capacity crisis. In addition, increasing import volumes and including Mexico’s imports from China, support a conclusion that there is transshipment or further processing of steel mill articles from countries that remain subject to the additional ad valorem tariff proclaimed in Proclamation 9705, or from countries seeking to evade quantitative restrictions.
- The Secretary has also informed me that alternative agreements with trading partners including Australia, the members of the EU, Japan, and the United Kingdom have been less effective in eliminating the threatened impairment of U.S. national security than the additional ad valorem tariff proclaimed in Proclamation 9705. As a result, imports of steel articles from these countries have increased as a share of total U.S. steel imports from 18.6 percent in 2020 to 20.7 percent in 2024. In addition, from 2022 to 2024, imports from countries subject to quotas (Argentina, Brazil, and South Korea) increased by approximately 1.5 million metric tons, even as U.S. demand declined by more than 6.1 million tons during the period. Argentina has continued to export steel to the United States at unsustainable quantities, especially a recent surge of semifinished products. Furthermore, Argentina’s lack of data transparency has continued to be of concern for the United States. From official trade statistics released by Argentina, it is difficult to assess the levels of steel being imported from places like China and Russia, and other potential sources of excess capacity. Brazilian imports from countries with meaningful levels of overcapacity, specifically China have grown tremendously in recent years, more than tripling since the institution of this quota arrangement.
- At the same time, these alternative agreements have not resulted in sufficient action by these trading partners to address non-market excess capacity caused primarily by China, or sufficient cooperation by these trading partners on issues like trade remedies and customs matters or monitoring bilateral steel trade. Some countries have also welcomed steel industry investments from non-market producers in countries like China seeking to exploit the agreements to obtain preferential access to the U.S. market. The agreements have therefore been detrimental to U.S. steel production and national security.
- The Secretary has informed me of similar problems with respect to the temporary exemption for imports of steel articles and derivative steel articles from Ukraine. Rather than supporting the Ukrainian steel industry and alleviating the economic harm caused by the ongoing conflict, the benefits of this temporary exemption have accrued primarily to producers in EU member countries, which have significantly increased duty-free exports to the U.S. market of steel articles processed from Ukrainian semi-finished steel. Since 2021, imports from Ukraine have remained steady at 0.5 percent of total U.S. imports, while imports from the European Union have increased 11.2 percent to 14.8 percent. As a result of the temporary exemption, these imports enter the U.S. market subject to neither the ad valorem tariff proclaimed in Proclamation 9705, nor the tariff-rate-quota system applicable to other imports of steel articles from EU producers as proclaimed in Proclamation 10328. This has facilitated evasion of both the section 232 measures and of antidumping duties that would be paid if the finished products were imported directly from Ukraine.
- The Secretary has informed me that producers in countries that remain subject to the program have continued to evade the measures by processing covered steel articles into additional downstream steel derivative products that were not included in the additional ad valorem tariffs proclaimed in Proclamation 9705 and Proclamation 9980 of January 24, 2020 (Adjusting Imports of Derivative Aluminum Articles and Derivative Steel Articles Into the United States). Imports of products such as fabricated structural steel, prestressed concrete strand, and others, have increased significantly since the issuance of Proclamation 9705 and Proclamation 9980, eroding the domestic industry’s customer base and resulting in depressed demand for steel articles produced in the United States.
- The Secretary has also informed me of certain ongoing challenges with the product exclusion process authorized by Proclamation 9705, Proclamation 9777 of August 29, 2018 (Adjusting Imports of Steel Into the United States), and Proclamation 9980 and implemented by subsequent regulations. This process has resulted in exclusions for a significant volume of imports, in a manner that undermines the purpose of the section 232 measures and threatens to impair national security. Certain general approved exclusions remain in effect for entire tariff lines of steel articles, notwithstanding the domestic industry’s potential to produce many excluded products.
- I determine that these developments and modifications to the tariffs announced in Proclamation 9705 have undermined the program’s national security objectives by preventing the domestic steel industry from achieving sustained production capacity utilization of at least 80 percent, as determined necessary in the Secretary’s report of January 11, 2018. I also determine that they have failed to achieve their articulated objectives. As a result, I determine that they have resulted in significantly increasing imports of steel articles that threaten to impair the national security.
- In light of the Secretary’s findings regarding the alternative agreements with South Korea proclaimed in Proclamation 9740; Argentina, Australia, and Brazil proclaimed in Proclamation 9759; Canada and Mexico proclaimed in Proclamation 9894; EU countries proclaimed in Proclamation 10328; Japan proclaimed in Proclamation 10356; and the United Kingdom proclaimed in Proclamation 10406, I have revisited the determinations in these proclamations. In my judgment, the arrangements with these countries have failed to provide effective, long-term alternative means to address these countries’ contribution to the threatened impairment to the national security by restraining steel articles exports to the United States from each of them, limiting transshipment and surges and distorted pricing, and discouraging excess steel capacity and excess steel production. Thus, I have determined that steel articles imports from these countries threaten to impair the national security, and I have decided that it is necessary to terminate these arrangements as of March 12, 2025. As of that date, all imports of steel articles and derivative steel articles from Argentina, Australia, Brazil, Canada, EU countries, Japan, Mexico, South Korea, and the United Kingdom shall be subject to the additional ad valorem tariff proclaimed in Proclamation 9705 with respect to steel articles and Proclamation 9980 with respect to derivative steel articles. In my judgment, these modifications are necessary to address the significantly increasing share of imports of steel articles and derivative steel articles from these sources, which threaten to impair U.S. national security. Replacing the alternative agreements with the additional ad valorem tariffs will be a more robust and effective means of ensuring that the objectives articulated in the Secretary’s January 11, 2018, report and subsequent proclamations are achieved.
- For the same reasons, I have also revisited the determinations in Proclamation 10403, Proclamation 10558, and Proclamation 10771. In my judgment, the arrangement with Ukraine has failed to provide effective, long-term alternative means to address Ukraine’s contribution to the threatened impairment to our national security by restraining steel articles exports to the United States from Ukraine, limiting transshipment and surges, and discouraging excess steel capacity and excess steel production. Thus, I have determined that steel articles imports from Ukraine threaten to impair the national security and have determined that it is necessary to terminate the temporary exemption for imports of steel articles and derivative steel articles from Ukraine as proclaimed in Proclamation 10403, Proclamation 10558, and Proclamation 10771. In my judgment, terminating this exemption will prevent abuses that have resulted in significantly increasing imports from sources other than Ukraine, will prevent evasion of antidumping duties, and will support the domestic steel industry without harming Ukraine’s economic recovery.
- In light of the information provided by the Secretary that significantly increasing imports of certain derivative steel articles have depressed demand for steel articles produced by domestic steel producers, I have determined that it is necessary and appropriate in light of U.S. national security interests to adjust the tariff proclaimed in Proclamation 9705 and Proclamation 9980 to apply to additional derivative steel articles. As of March 12, 2025, the additional derivative steel articles covered by this proclamation, as set out in Annex I to this proclamation, shall be subject to the ad valorem duties proclaimed in Proclamation 9705 and Proclamation 9980, except for derivative steel articles processed in another country from steel articles that were melted and poured in the United States. For any derivative steel article identified in Annex I that is not in Chapter 73 of the HTSUS, the additional ad valorem duty shall apply only to the steel content of the derivative steel article. The Secretary shall publish a notice in the Federal Register to this effect, including Annex I to this proclamation.
- The Secretary has informed me that his findings with regard to the product exclusion process present circumstances that in the Secretary’s opinion indicate the need for further action by the President under section 232. Accordingly, as of the date of this proclamation the Secretary is no longer authorized to provide relief from the additional duties set forth in clause 2 of Proclamation 9705 for any steel article determined not to be produced in the United States in a sufficient and reasonably available amount or a satisfactory quality or based on specific national security determinations, and the product exclusion process as authorized in clause 3 of Proclamation 9705, clause 1 of Proclamation 9777, and clause 2 of Proclamation 9980 is terminated, effective immediately. I have determined that terminating product exclusions is necessary to ensure that overly broad exclusions do not allow high volumes of imports to undermine the objectives articulated in the Secretary’s January 11, 2018, report and relevant subsequent proclamations. This change will also relieve the administrative burden that the process has created. Following this proclamation, and subject to any restrictions set forth in or pursuant to other provisions of applicable law, imports of any steel article or derivative steel article from any source and in any quantity will be available to U.S. importers, provided that the additional ad valorem tariffs are paid upon entry or withdrawal from warehouse for consumption.
- Section 232 of the Trade Expansion Act of 1962, as amended, authorizes the President to take action to adjust the imports of an article and its derivatives if the President concurs with the Secretary’s finding that the article is being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security.
- Section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), authorizes the president to embody in the Harmonized Tariff Schedule of the United States (HTSUS) the substance of statutes affecting import treatment, and actions thereunder, including the removal, modification, continuance, or imposition of any rate of duty or other import restriction.
20. The United States will monitor the implementation and effectiveness of these actions in addressing our national security needs, and I may revisit this determination, as appropriate.

NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by the authority vested in me by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, section 604 of the Trade Act of 1974, as amended, and section 232 of the Trade Expansion Act of 1962, as amended, do hereby proclaim as follows:
- The provisions of Proclamation 9740 with respect to imports of steel articles from South Korea; Proclamation 9759 with respect to imports of steel articles from Argentina, Australia, and Brazil; Proclamation 10064 with respect to imports of steel articles from Brazil; Proclamation 9894 with respect to imports of steel articles from Canada and Mexico; Proclamation 10783 with respect to imports of steel articles from Mexico; Proclamation 10328 and Proclamation 10691 with respect to imports of steel articles and derivative steel articles from the EU; Proclamation 10356 with respect to imports of steel articles and derivative steel articles from Japan; Proclamation 10406 with respect to imports of steel articles and derivative steel articles from the United Kingdom; and Proclamation 10403, Proclamation 10558, and Proclamation 10771 with respect to steel articles and derivative steel articles from Ukraine shall be ineffective as of 12:01 a.m. eastern time on March 12, 2025. The provisions of clause 1 of Proclamation 9740 as applicable to imports of steel articles or derivative steel articles from Argentina, Australia, Brazil, Canada, Mexico, South Korea, and EU member countries shall be ineffective as of 12:01 a.m. eastern time on March 12, 2025. The provisions of clause 1 of Proclamation 9980 as applicable to imports of derivative steel articles from Argentina, Australia, Canada, Mexico, and South Korea shall be ineffective as of 12:01 a.m. eastern time on March 12, 2025. As of 12:01 a.m. eastern time on March 12, 2025, all imports of steel articles and derivative steel articles from these countries shall be subject to the additional ad valorem tariffs proclaimed in Proclamation 9705 and Proclamation 9980.
- Clause 2 of Proclamation 9705, as amended, is revised to read as follows:
“(2)(a) In order to establish certain modifications to the duty rate on imports of steel articles, subchapter III of chapter 99 of the HTSUS is modified as provided in the forthcoming annex to this proclamation set out in a subsequent Federal Register notice and any subsequent proclamations regarding such steel articles.

(b) Except as otherwise provided in this proclamation, or in notices published pursuant to clause 3 of this proclamation, all steel articles imports covered by heading 9903.80.01, in subchapter III of chapter 99 of the HTSUS, shall be subject to an additional 25 percent ad valorem rate of duty with respect to goods entered for consumption, or withdrawn from warehouse for consumption, as follows: (i) on or after 12:01 a.m. eastern time on March 23, 2018, from all countries except Argentina, Australia, Brazil, Canada, Mexico, South Korea, and the member countries of the European Union; (ii) on or after 12:01 a.m. eastern time on June 1, 2018, from all countries except Argentina, Australia, Brazil, and South Korea; (iii) on or after 12:01 a.m. eastern time on August 13, 2018, from all countries except Argentina, Australia, Brazil, South Korea, and Turkey; (iv) on or after 12:01 a.m. eastern time on May 20, 2019, from all countries except Argentina, Australia, Brazil, South Korea, and Turkey; (v) on or after 12:01 a.m. eastern time on May 21, 2019, from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea; (vi) on or after 12:01 a.m. eastern time on January 1, 2022, from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea, and except the member countries of the European Union through 11:59 p.m. eastern time on December 31, 2023, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive; (vii) on or after 12:01 a.m. eastern time on April 1, 2022, from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea, and except the member countries of the European Union through 11:59 p.m. eastern time on December 31, 2023, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive, and from Japan, for steel articles covered by headings 9903.81.25 through 9903.81.80, inclusive; (viii) on or after 12:01 a.m. eastern time on June 1, 2022, from all countries except Argentina, Australia, Brazil, Canada, Mexico, South Korea, and Ukraine through 11:59 p.m. eastern time on June 1, 2023, and except the member countries of the European Union through 11:59 p.m. eastern time on December 31, 2023, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive, and from Japan and the United Kingdom (UK), for steel articles covered by subheadings 9903.81.25 through 9903.81.78 and heading 9903.81.80, and from the member countries of the European Union, for steel articles covered by heading 9903.81.81; (ix) on or after 12:01 a.m. eastern time on June 1, 2023, from all countries except Argentina, Australia, Brazil, Canada, Mexico, South Korea, and Ukraine through 11:59 p.m. eastern time on June 1, 2024, and except the member countries of the European Union through 11:59 p.m. eastern time on December 31, 2023, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive, and from Japan and the UK, for steel articles covered by subheadings 9903.81.25 through 9903.81.78 and heading 9903.81.80, and from the member countries of the European Union, for steel articles covered by heading 9903.81.81, and from the member countries of the European Union where the steel used in the manufacture of the steel article is melted and poured in Ukraine through 11:59 p.m. eastern time on June 1, 2024, (x) on or after 12:01 a.m. eastern time on January 1, 2024, from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea, and except for Ukraine in accordance with the relevant proclamation as amended, and except the member countries of the European Union in accordance with the relevant proclamation as amended, for steel articles covered by headings 9903.80.65 through 9903.81.19, inclusive, and from Japan and the UK , in accordance the relevant proclamation as amended, for steel articles covered by subheadings 9903.81.25 through 9903.81.78 and heading 9903.81.80, and from the member countries of the European Union in accordance with the relevant proclamation as amended, for steel articles covered by heading 9903.81.81, and from the member countries of the European Union where the steel used in the manufacture of the steel article is melted and poured in Ukraine in accordance with the relevant proclamation as amended, and (xi) from all countries on or after 12:01 a.m. eastern time on March 12, 2025, unless suspended. Further, except as otherwise provided in notices published pursuant to clause 3 of this proclamation, all steel articles imports from Turkey covered by heading 9903.80.02, in subchapter III of chapter 99 of the HTSUS, shall be subject to a 50 percent ad valorem rate of duty with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern time on August 13, 2018, and prior to 12:01 a.m. eastern time on May 21, 2019. These rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported steel articles, shall apply to imports of steel articles from each country as specified in the preceding three sentences.“
- The first two sentences of clause 1 of Proclamation 9980 are revised to read as follows:
“In order to establish increases in the duty rate on imports of certain derivative articles, subchapter III of chapter 99 of the HTSUS is modified as provided in Annex I and Annex II to this proclamation. Except as otherwise provided in this proclamation, all imports of derivative aluminum articles specified in Annex I to this proclamation shall be subject to an additional 10 percent ad valorem rate of duty, and all imports of derivative steel articles specified in Annex II to this proclamation shall be subject to an additional 25 percent ad valorem rate of duty, with respect to goods entered for consumption, or withdrawn from warehouse for consumption, as follows: (i) on or after 12:01 a.m. eastern time on February 8, 2020, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, the Commonwealth of Australia (Australia), Canada, and the United Mexican States (Mexico), and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, Mexico, and South Korea; (ii) on or after 12:01 a.m. eastern time on January 1, 2022, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, and Mexico, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Mexico, and South Korea; (iii) on or after 12:01 a.m. eastern time on April 1, 2022, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, and Mexico, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Japan, Mexico, and South Korea; (iv) on or after 12:01 a.m. eastern time on June 1, 2022, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, Mexico, and the UK, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Japan, Mexico, South Korea, and the UK, and except from Ukraine through 11:59 p.m. eastern time on June 1, 2023; (v) on or after 12:01 a.m. eastern time on March 10, 2023, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, Mexico, the UK, and Russia, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Japan, Mexico, South Korea, and the UK, and except from Ukraine through 11:59 p.m. eastern time on June 1, 2023; (vi) on or after 12:01 a.m. eastern time on June 1, 2023, these rates of duty, which are in addition to any other duties, fees, exactions, and charges applicable to such imported derivative aluminum articles or steel articles, shall apply to imports of derivative aluminum articles described in Annex I to this proclamation from all countries except Argentina, Australia, Canada, the member countries of the European Union, Mexico, the UK, and Russia, and to imports of derivative steel articles described in Annex II to this proclamation from all countries except Argentina, Australia, Brazil, Canada, the member countries of the European Union, Japan, Mexico, South Korea, and the UK, and except from Ukraine om accordance with the relevant proclamation as amended; and (vii) on or after 12:01 a.m. eastern daylight time on March 12, 2025, unless suspended, these rates of duty, which are in addition to any other duties, taxes, fees, exactions, and charges applicable to such imported derivative steel articles, shall apply to imports of derivative steel articles described in Annex II to this proclamation from all countries.”
- Except as otherwise provided in this proclamation, all imports of derivative steel articles specified in Annex I to this proclamation or in any subsequent annex to this proclamation, as set out in a subsequent notice in the Federal Register, shall be subject to an additional 25 percent ad valorem rate of duty, with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on the Commerce certification date in clause 8. These rates of duty, which are in addition to any other duties, taxes, fees, exactions, and charges applicable to such imported derivative steel articles, shall apply to imports of derivative steel articles described in Annex I to this proclamation from all countries, but shall not apply to derivative steel articles processed in another country from steel articles that were melted and poured in the United States. The Secretary shall continue to monitor imports of the derivative articles described in Annex I to this proclamation, and shall, from time to time, in consultation with the United States Trade Representative, review the status of such imports with respect to the national security of the United States.
- For purposes of implementing the requirements in this proclamation, importers of steel derivative articles shall provide to U.S. Customs and Border Patrol within the Department of Homeland Security (CBP) any information necessary to identify the steel content used in the manufacture of steel derivative articles imports, covered by this Proclamation. CBP shall implement the information requirements as soon as practicable.
- Within 90 days after the date of this proclamation, the Secretary shall establish a process for including additional derivative steel articles within the scope of the ad valorem duties proclaimed in Proclamation 9705, Proclamation 9980, and clause 4 of this proclamation. In addition to inclusions made by the Secretary, this process shall provide for including additional derivative steel articles at the request of a producer of a steel article or derivative steel article, or an industry association representing one or more such producers, where the request establishes that imports of a derivative steel article have increased in a manner that threatens to impair the national security or otherwise undermine the objectives set forth in the Secretary’s January 11, 2018, report or any Proclamation issued pursuant thereto. When the Secretary receives such a request from a domestic producer or industry association, the Secretary shall issue a determination regarding whether or not to include the derivative steel article or articles within 60 days of receiving the request.
- The provisions of clause 3 of Proclamation 9705, clause 1 of Proclamation 9777, clause 2 of Proclamation 9980, or any other provisions authorizing the Secretary to grant relief for certain products from the additional ad valorem duties or quantitative restrictions set forth in prior proclamations are hereby revoked. As of 11:59 p.m. eastern time on the date of this proclamation, the Secretary shall not consider any product exclusion requests or renew any product exclusion requests in effect as of that date. The Secretary shall take all necessary action to rescind the product exclusion process, including publication in the Federal Register. Granted product exclusions shall remain effective until their expiration date or until excluded product volume is imported, whichever occurs first. The Secretary shall terminate all existing general approved exclusions as of March 12, 2025.
- The modifications made by this proclamation in clause 4 shall be effective upon public notification by the Secretary of Commerce, that adequate systems are in place to fully, efficiently, and expediently process and collect tariff revenue for covered articles.
- Any steel article or derivative article, except those eligible for admission under “domestic status” as defined in 19 CFR 146.43, that is subject to the duty imposed by this proclamation and that is admitted into a U.S. foreign trade zone on or after 12:01 a.m. eastern daylight time on March 12, 2025, must be admitted as “privileged foreign status” as defined in 19 CFR 146.41, and will be subject upon entry for consumption to any ad valorem rates of duty related to the classification under the applicable HTSUS subheading. Any steel article or derivative steel article, except those eligible for admission under “domestic status” as defined in 19 CFR 146.43, that is subject to the duty imposed by this proclamation, and that was admitted into a U.S. foreign trade zone under “privileged foreign status” as defined in 19 CFR 146.41, prior to 12:01 a.m. eastern daylight time on March 12, 2025 , will likewise be subject upon entry for consumption to any ad valorem rates of duty related to the classification under the applicable HTSUS subheading added by this proclamation. Pursuant to clause 8, the duties on steel derivatives established by clause 4 of this Proclamation shall be suspended until public notification by the Secretary of Commerce that adequate systems are in place to fully, efficiently, and expediently process and collect tariff revenue applicable to covered articles.
- Any product listed in Annex Ito this proclamation or any subsequent annex published in the Federal Register pursuant to this Proclamation, that is subject to the additional duties imposed by this proclamation, and that is admitted into a U.S. foreign trade zone, except any product that is eligible for admission under “domestic status” as defined in 19 CFR 146.43, may only be admitted as “privileged foreign status,” as defined in 19 CFR 146.41, effective as of the date that the additional duties are imposed.
- The Secretary, in consultation with the Commissioner of CBP, Security, and the heads of other relevant executive departments and agencies, shall revise the HTSUS so that it conforms to the amendments and effective dates directed in this proclamation within ten days of March 12, 2025. The Secretary is authorized and directed to publish any such modification and future modifications to the HTSUS in the Federal Register.
- CBP shall prioritize reviews of the classification of imported steel articles and derivative steel articles and, in the event that it discovers misclassification resulting in non-payment of the ad valorem duties proclaimed herein, it shall assess monetary penalties in the maximum amount permitted by law and shall not consider any evidence of mitigating factors in its determination. In addition, CBP shall promptly notify the Secretary regarding evidence of any efforts to evade payment of the ad valorem duties proclaimed herein through processing or alteration of steel articles or derivative steel articles prior to importation. In such circumstances, the Secretary shall consider the processed or altered steel articles or derivative steel articles for inclusion as derivative steel articles pursuant to clause 5 of this proclamation.
- No drawback shall be available with respect to the duties imposed pursuant to this proclamation.
(14) The Secretary may issue regulations and guidance consistent with this proclamation, including to address operational necessity.

(15) Any provision of a previous proclamation or Executive Order that is inconsistent with the actions taken in this proclamation is superseded to the extent of such inconsistency.

IN WITNESS WHEREOF, I have hereunto set my hand this

tenth day of February, in the year of our Lord two thousand twenty-five, and of the Independence of the United States of America the two hundred and forty-ninth.
MIL OSI USA News –
February 11, 2025
MIL-OSI Submissions: Australia – New book tells the stories of second generation migrants – AMES

Source: AMES

A compelling new book tells the stories of second-generation migrant Australians, who share their families’ settlement journeys and their own search for identity.

Titled ‘At the Heart of Identity’, the book reveals the both inspirational and heart-wrenching stories of migrant families as well as the sense of hope and opportunity that characterises Australia’s migration history.

Contributors include South Australian Premier Peter Malinauskas, whose family hails from Lithuania, and former Socceroo Archie Thompson, who has a New Zealand-born father and mother from Papua New Guinea.

Also sharing their stories are federal MP Cassandra Fernando, whose parents are from Sri Lanka, and Victorian state MP Lee Tarlamis, who has Greek heritage.

Artist Saidin Salkic, whose father was victim of the Srebrenica massacre in Bosnia, is also a contributor, along with others from Africa, Kurdistan, Vietnam, Malta, Yugoslavia, Burma, Italy and Ukraine.

Published today as part of migrant and refugee settlement agency AMES Australia’s annual ‘Heartlands’ cultural project, the book is a reflection of Australia’s long and diverse history as a nation of migrants.

AMES CEO Cath Scarth said the book was timely at a point in history when polarisation and divisiveness are on the rise across the globe.

“Stories of settlement in Australia, no matter where you have come from, are things that unite us,” Ms Scarth said.

“These stories are reflection of how migrants have helped to build Australia and helped to create the successful brand of multiculturalism we enjoy along with the high levels of social cohesion that we have built,” she said.

One of the contributors is Carmen Capp-Calleya, who came to Australia from Malta with her parents in 1958 – surviving a shipwreck along the way.

“The tragic incident, the first major shipping disaster since the end of WW11, had an enduring impact on me and my family. It left us with an indelible sense that we were indeed migrants who had crossed the seas to make a new life,” she says in the book.

Former Socceroo Archie Thompson tells of his trouble childhood.

“I grew up in country town in NSW and I was pretty much the only dark-skinned kid in town. That made things difficult at times, but I was able to find a community through football,” he says.

SA Premier Peter Malinauskas’ family came to Australia in 1949 escaping war-torn Europe.

“When my grandparents got married, they bought a block of land on Trimmer Parade, Seaton, where they built their home and, for many years, operated a fish and chip shop. I distinctly remember as a young boy standing at that fish and chip shop my grandfather built with his own bare hands as he told me about the importance of taking opportunities,” he says.

Federal MP Cassandra Fernando tells of growing up in a vibrant multicultural community.

“I loved the diversity in South-East Melbourne, a cultural melting pot of Greeks, Italians, Vietnamese, and more. Here, I learned the true meaning of community as people from

different backgrounds came together,” she says.

Victorian MP Lee Tarlamis tells of reconnecting with his heritage.

“I became determined to reconnect with Greek culture. Embracing both the Greek community and my wife’s Vietnamese culture helped me value diversity and the importance of preserving it,” he says in the book.

Park Ranger James Brincat, whose parts came from Malta in the 1950s, says racism was part of his childhood.

“Growing up in a migrant family was challenging due to racism and being unsure of my identity because of the media’s mixed messages. These experiences strengthened me and now guide my work with refugee communities,” he says.

Architect and artist Maru Jarockyj’s parents fled Ukraine after WWII and settled in the UK. She came to Australia as a young woman.

“Russia’s illegal invasion of Ukraine and the subsequent devastating war has sparked some deep latent emotions in me and reignited a sense of patriotism. Ukrainian culture

has always been important to me, and I’ve been involved in folk music and art throughout my life,” she says.

‘At the Heart of Identity’ will go on sale early next year.

MIL OSI – Submitted News –

February 11, 2025
MIL-Evening Report: Whether we carve out an exemption or not, Trump’s latest tariffs will still hit Australia

Source: The Conversation (Au and NZ) – By Scott French, Senior Lecturer in Economics, UNSW Sydney

US President Donald Trump and Prime Minister Anthony Albanese have stated an exemption for Australia from Trump’s executive order placing 25% tariffs on all steel and aluminium imported into the US is “under consideration”. But prospects remain uncertain.

Albanese would do well to secure an exemption using similar arguments as then-Prime Minister Malcolm Turnbull did in 2018.

If Australia cannot obtain a carve-out from the tariffs, the main group affected will be the Australian producers of steel and aluminium. But the size of the hit they will take is difficult to predict.

Regardless of whether Australia gets an exemption, the world economy – and Australians – will be affected by Trump’s latest round of tariffs.

Producers will be hit

If ultimately imposed by the US, these tariffs will make steel and aluminium produced in Australia more expensive for US manufacturers relative to domestically produced alternatives. This will certainly result in reduced demand for the Australian products.

However, three factors will help limit the effects:

1. The price of metals produced in the US will rise

It will take time to ramp up US production to fill the gap of reduced imports, and the extra production will likely come from less efficient domestic producers. This means that US manufacturers will continue to buy imported metals, despite the higher prices.

2. The US is not a huge market for Australian steel and aluminium

Australia produced A$113 billion of primary and fabricated metal in the 2022-23 financial year, according to the ABS.

By comparison, less than $1 billion of steel and aluminium was exported to the US in 2023, according to data from UN Comtrade, consisting of about $500 million of aluminium and less then $400 million of steel. Exports to the US account for about 10% of Australia’s total exports of these metals.

3. Major markets

If major markets such as China and the European Union enact retaliatory tariffs on US metals, this could make Australian metals more competitive in these markets.

Some stand to benefit

While workers in Australian steel and aluminium plants will be watching the news with trepidation, some of Australia’s biggest manufacturing companies may be less concerned.

For example, BlueScope Steel has significant US steel operations, and saw its share price increase on news of the tariffs.

US-based Alcoa, which owns alumina refineries in Western Australia and an aluminium smelter in Victoria, will also expect to see its US operations benefit.

And Rio Tinto will be most concerned about its substantial Canadian operations. Its Canadian hub is responsible for close to half of its global aluminium production.

Demand for iron ore could fall

The US tariffs will also have wider ranging effects on the Australian economy, regardless of whether Australia’s products are directly targeted.

While aluminium is Australia’s top manufacturing export, it still makes up only about 1% of total exports, and steel makes up less than half that.

Iron ore, by contrast, makes up more than 20% of Australia’s exports, with aluminium ores making up an additional 1.5%.

This means the effect of the tariffs on demand for the raw materials to make steel and aluminium may have the largest detrimental effect on the Australian economy.

Because the tariffs will make steel and aluminium more expensive to US manufacturers, they will seek to reduce their use of them. This means global demand for the metals, and the ores used to produce them, will decline.

Investors appear to be betting on this, with shares of Australian miners like Rio Tinto and BHP falling since Trump announced the tariffs.

Imported goods will become more expensive

Many of the things Australians buy are likely to get more expensive.

All US products that use steel and aluminium at any stage of the production process will also become more expensive. Tariffs will raise the cost of steel and aluminium for US manufacturers, both directly and by reducing overall productivity in the US.

About 11% of Australia’s imports come from the US. And about half of this consists of machinery, vehicles, aircraft, and medical instruments, which typically contain steel and aluminium. Further, these goods are used by manufacturers around the world to produce and transport many of the other things Australians buy.

Scott French does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Whether we carve out an exemption or not, Trump’s latest tariffs will still hit Australia – https://theconversation.com/whether-we-carve-out-an-exemption-or-not-trumps-latest-tariffs-will-still-hit-australia-249493

MIL OSI Analysis – EveningReport.nz –

February 11, 2025
MIL-OSI Economics: The Office of Markets Development and Public–Private Partnership

Source: Asia Development Bank

It outlines how OMDP helps developing member countries (DMCs) access the tools they need to engage businesses. It shows how it helps DMCs create conducive environments for investors and build up their private sectors. Highlighting the $4.3 billion in private capital OMDP mobilized since 2016, it shows why working with businesses to develop infrastructure helps DMCs harness cutting-edge technologies, boost project efficiency, and achieve transformative growth. 

MIL OSI Economics –

February 11, 2025
MIL-Evening Report: American Primeval includes brutal displays of Mormon violence, but the reality was arguably worse

Source: The Conversation (Au and NZ) – By Brenton Griffin, Casual Lecturer and Tutor in History, Indigenous Studies, and Politics, Flinders University

American Primeval/Netflix

On January 24, leaders of the Church of Jesus Christ of Latter-day Saints, more commonly known as the Mormon Church, penned a statement condemning the Netflix series American Primeval.

This historical fiction depicts the Mountain Meadows Massacre of 1857, as well as broader hostilities between the US government and Mormons at Salt Lake City during the Utah War of 1857–58.

The church has criticised the series for its portrayal of the Mormon prophet Brigham Young, who it claims is “egregiously mischaracterized as a villainous, violent fanatic”. It also says the series

inaccurately portrays [the Mountain Meadows Massacre] as reflective of a whole faith group, [when] the Church has long acknowledged and condemned this horrific tragedy.

The reality of the massacre was arguably even grimmer than what American Primeval shows. Contrary to what is depicted in the series, there were no adult survivors. Official sources state up to 150 people were killed. Only 17 children under the age of six were spared, who were then discreetly adopted into Mormon families.

A (nuanced) history of violence

Although onscreen depictions of Mormon violence are common, most of these fail to explain the roots of this violence in both theological belief and history.

Canonised Mormon scripture, including in the Book of Mormon and The Doctrine and Covenants, and pronouncements from leaders such as Joseph Smith and Brigham Young, argue some violence is appropriate and required as per God’s commandment. Justifications for violence had been used against both outsiders and insiders since the religion was founded in 1830 by Joseph Smith (who himself was assassinated in 1844).

The other driver is the lived experiences of Mormons. Throughout their history, Mormons had been forcefully removed from wherever they have settled, most prolifically under the Missouri “extermination order” of 1838.

This resulted in the slaughter, rape and violent relocation of Mormons from Missouri to their temporary home in Illinois, before they further migrated to Zion – a religious community established by Young and his followers in Utah – in 1847.

The Mormons’ establishment of Salt Lake City and surrounding cities in 1847 was based on the violent dispossession of Indigenous communities. As shown in American Primeval, the Utah War and the period surrounding it was dominated by violence.

This included violence from Mormons and other settlers against Native Americans whose lands were being dispossessed, from Native Americans defending their lands, and from the US government against Mormons and Native Americans.

In the Mountain Meadows Massacre, Mormons and Native Americans allied against US emigrants travelling to California.

A depiction of the 1857 Mountain Meadows Massacre.
Shutterstock

The two threads of theology and history are integral to understanding the way Mormon violence has been both enacted and represented.

Portrayals in 19th-century media

Mormonism first reached Australia’s shores in 1840 and remained a small religious minority in the 19th and 20th centuries. Converts were encouraged to migrate to Utah to help build Zion.

Australian newspapers reported widely on the Mountain Meadows Massacre of 1857. These articles were mostly reprints of the same information. They were largely accurate, but inflated the number of victims.

The articles explained how the slaughter had originally been assigned solely to Native Americans, but was later discovered to have been orchestrated by the Mormons, with assistance from some Indigenous tribes.

Interest began to wane in the 1860s, but picked up again in 1877 following the execution of perpetrator John D. Lee. However, in his book and “confession”, Mormonism Unveiled (1877), Lee claimed he had been scapegoated by Young and other leaders.

Photographs from 1877 show officers, soldiers and spectators at Mountain Meadows, Utah, following the execution of John D. Lee.
Library Of Congress

Spotlight on the Danites

Interest in Mormon violence wasn’t confined to the Mountain Meadows Massacre. Australian newspapers also discussed the Danites, a band of religiously motivated vigilantes involved in Mormon hostilities in Missouri and Illinois in the 1830s.

These vigilantes were inspired by Smith’s theological claims and a goal to defend Mormons from harm. They participated in both aggressive and defensive violence against their non-Mormon neighbours.

Historians have debated the extent of the Danites’ existence, with official church statements claiming they ceased to exist in 1838. Yet in 1858, Brigham Young threatened, “if men come here and do not behave themselves, they will […] find the Danites, whom they talk so much about”.

The group is first mentioned in Australian media by the late 1850s, with descriptions of Danite “atrocities” disseminated widely, though largely uncorroborated.

By the 1870s and ‘80s, this had progressed to portrayals in popular culture, including in Australian theatres and Arthur Conan Doyle’s 1887 novel Sherlock Holmes: A Study In Scarlet.

Media representations of Mormon violence continued into the 20th century. The 1917 American film A Mormon Maid focused on theocratic violence and polygamy, which had been allowed in Mormonism until its ban in 1890.

A 1952 article in Queensland’s The Truth recounting the Mountain Meadow Massacre.
Trove

The modern Mormon

Our collective fascination with Mormonism today is augmented by the religion’s marginal yet undeniable presence, both in Australia and overseas.

There are about 17 million Mormons worldwide. Of these, an estimated 157,000 are in Australia (about 0.6% of the population) compared with almost seven million in the United States (about 2% of the population).

Modern portrayals of Mormonism have tended towards the humorous (The Book of Mormon musical), scandalous (The Secret Lives of Mormon Wives), and even sympathetic (Heretic).

Even recent representations of Mormon violence, such as in Under the Banner of Heaven (2022), have focused on breakaway fundamentalists rather than the mainstream Mormon church.

Outrage towards Mormons has focused on the religion’s extreme wealth, influence over political issues such as opposition to same-sex marriage, and the rise of Mormon “tradwife” influencers.

But I argue these are divergences from the more prominent historical trend of painting Mormons as violent zealots (or in some cases as sexually amoral heretics). And despite these, the spectre of Mormon violence remains – reinforced periodically over nearly 200 years of popular culture and media.

Brenton Griffin was raised as a member of the Church of Jesus Christ of Latter-day Saints, but is no longer a practising member of the church. His PhD research is focused on the religion’s place in Australian and New Zealand popular culture, politics, and society from the nineteenth century to present.

– ref. American Primeval includes brutal displays of Mormon violence, but the reality was arguably worse – https://theconversation.com/american-primeval-includes-brutal-displays-of-mormon-violence-but-the-reality-was-arguably-worse-249377

MIL OSI Analysis – EveningReport.nz –

February 11, 2025
MIL-OSI New Zealand: Heritage – Frozen in time – National Lamb Day celebrations at Totara Estate

Source: Heritage New Zealand

Totara Estate near Ōamaru will play a prime role in this year’s National Lamb Day celebrations on February 15.

The historic farmstead, a Tohu Whenua cared for by Heritage New Zealand Pouhere Taonga, sent the first-ever shipment of frozen export meat from New Zealand to Britain in 1882, an event that created the multi-billion dollar industry that changed New Zealand’s economy forever.

February 15 commemorates the exact day 143 years ago when the ship Dunedin left Port Chalmers for the three-month voyage to London carrying just under 5000 sheep and lamb carcasses that had been freshly processed at Totara Estate.

“This was a significant moment in New Zealand’s history and Totara Estate was at the epicentre of it. It’s very appropriate that this place is a central part of National Lamb Day celebrations,” says Totara Estate Property Lead Jacqui Allison.

Celebrations will be particularly fitting for the occasion, with New Zealand’s rich agricultural heritage featuring prominently.

“We’re looking forward to inspiring people with live demonstrations by local experts who will showcase a range of farm-related talents including knife skills, butchery, blade shearing, spinning and other wool crafts,” she says.

“Visitors will also be able to engage their minds with some captivating live readings and entertaining talks that bring history and culture to life – or just ‘chill’ to the sounds of local musicians who will create the perfect festive mood.”

And if that wasn’t enough, a range of outdoor games for kids, and older people with a finely developed inner child, promise laughter and smiles all around.

People can bring their own picnic, or support some of the local businesses who will be there on the day, including Mark from That Food Guy and Barb from Brews and Bites.

“We’re looking forward to hosting the community in what is shaping up to be a fantastic celebration of a very important date in New Zealand’s history,” says Jacqui.

Totara Estate would like to acknowledge the support of Gallaway Cook Allan , the National Lamb Day team and The Better Drinks Company in putting together this event.

From minus zero to hero

It was a big gamble sending a load of frozen meat from New Zealand to London in 1882.

Besides the huge investment of actually prepping the first export shipment, the sheer size of the cargo versus the logistics of carrying coal for the long trip made a steam-powered ship impractical, and so the cargo had to travel for three months under sail. Success of the mission depended on the onboard refrigeration system running well.

Fortunately the man at the helm of the Dunedin was Captain John Whitson, who had taken the time to read up on refrigeration prior to leaving New Zealand. A good thing too. On the way, the ship was becalmed in the tropics and the crew noticed that the cold air in the hold was not circulating, endangering the meat.

Whitson crawled into the hold, sawed some extra air holes to improve the flow of cold air in order to keep the temperature low, though almost froze to death in the process. Thankfully the crew managed to haul him out of the freezer and resuscitate him.

As a result of Whitson’s determination, the ship arrived with its cargo in excellent condition. Only one carcass had to be condemned.

MIL OSI New Zealand News –

February 11, 2025

Category: Asia Pacific

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Producers will be hit

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A (nuanced) history of violence

Portrayals in 19th-century media

Spotlight on the Danites

The modern Mormon