• Anglo rejects BHP’s revised proposal, valuing the whole group at US$43b (Mining.com)

• Rio Tinto autonomous train derails in the Pilbara at Galah Station near Karratha, the third occurrence within a year (The West)

• Karoon’s CEO is schmoozing investors, but activists aren’t backing down (AFR)

• Fortsecue’s Iron Bridge leaky pipeline fiasco purportedly spills on Viburnum-backed contractor MPC Kinetic (The West)

• Evolution Mining and Mungari contractor MLG OZ face fines of $3.5m each over worker’s crushed arm (The West)

• Jupiter Mines boss Brad Rodgers predicts further manganese price upside after cyclone halt to South32 output (The West)

• Platinum’s shortage is set to persist as a slowdown in EV sales fuels demand, with the WPIC forecasting a 476koz deficit this year (Bloomberg)

• Copper miners are aggressively locking in unsustainable record-low TCRC’s, offering concentrate as far out as 2028. Numerous deals with negative charges have been signed for next year (Fastmarkets)

• L1 Capital’s Rafi Lamm has urged investors not to get “sucked in by current fads” as the firm sees fresh opportunities for gold, energy and copper stocks (The Australian)

• Miners & gas chiefs issued a pre-budget warning to the PM that investment, productivity, tax revenue and regional jobs are under threat unless Labor unshackles them from regressive policies and backs the gas industry (The Australian)

• Respondents to a Bloomberg survey have said that US big tech stocks were the closest rival to gold as an inflation hedge

• Anglo American investors told the company to move faster on the release of its turnaround plan to survive BHP bid (The West)

• Polymetals accelerated its acquisition of the Endeavor Silver-Zinc-Lead mine from a Toho Zinc subsidiary, deferring the exchange of the rehab bond for 2 years (POL)

• Spartan completed the retail entitlement offer component of its $80m raising. Retail demand only amounted to $4m of the $11m sought, with the shortfall issued to the underwriters (SPR)

• Pantoro raised $100m, upsized from the initial $88m target. Funds will be used to close out the $45m Nebari loan, for resource definition and establishing a third underground mine (PNR)

• Equinox completed a $4m placement for rare earth exploration in Brazil and iron ore exploration in the Pilbara (EQN)

• We understand that Bluescope has until the end of the month to exercise its pre-emptive right in relation to GEAR and M Resources’ proposed acquisition of Illawarra from South32. We’re led to believe that Bluescope fears certainty of supply beyond 2032, should GEAR and M Resources acquire the met coal project. We expect Bluescope to exercise its pre-emptive right.

• China’s commodity imports show prices beat economic narrative (Reuters)

• Big US banks dominated fossil fuel financing in 2023, with trends showing an increase in funding for companies examining expansions of LNG capacity (FT)

• Bloomberg has reported that the Biden administration will lift tariffs on Chinese EVs to 102.5% to protect the US auto industry

• Chinese private smelter Henan Jinli Gold & Lead Group is looking to expand its commodities trading team in Singapore, as the industry turns increasingly bullish on copper, aluminium & more metals (Bloomberg)

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