• BHP is putting Nickel West on care & maintenance, foreshadowing a $450m full-year loss, and will impair a further $450m (AFR)

• Fortescue is set to marginally miss guidance, while iron ore exports from the Pilbara continue to trend broadly upward (West)

• The Serbian Constitutional Court said the government’s decision in 2022 to revoke Rio’s spatial plan permit for Jadar was unconstitutional (West)

• Tianqi & Ganfeng warned of big first-half losses due to falling lithium prices, with their stock down 45% & 30% YTD, respectively (Nikkei)

• China approved no new coal-based steel projects in the first half of 2024, researchers said, accelerating its shift towards green production (Reuters)

• Shutdowns and cutbacks in WA’s nickel, iron ore, alumina and lithium sectors have led to the loss of about 6,300 jobs this year (BN)

• Copper smelting slipped dramatically in H1 CY2024, with smelter inactivity at an average of 16% (MiningNews)

• Green hydrogen and fuel cells could add another 25tpa of platinum demand by 2040 (MiningNews)

• Gold held a two-day advance, with traders pricing in higher odds of an initial interest-rate cut from the Fed in September (Bloomberg)

• One miner died & another is still trapped, while 76 were brought to surface following an incident at a Polish coal mine (Mining.com)

• Reuters reported that International Battery Metals achieved a breakthrough in the form of commercial DLE production in Utah 

• Cost factors have seen Kwinana chosen ahead of Kalgoorlie as the processing site for a Goldfields-based high-purity alumina project (West)

• Azerbaijan to start climate fund with $500m of oil money (FT)

• Ora Banda has approved development of the Sand King underground mine as it pushes toward 150kozpa (West)

• JCHX Mining plans to invest US$300m to breathe new life into Zambia’s Lubambe mines which it recently acquired (Mining.com)

• Regal Royalty Partners has agreed terms to acquire a 2.3% uncapped royalty over tenements owned by Metro Mining for $20m (AFR)

• MetalsX has spent $4.6 million buying a 23% stake in LSE-listed First Tin (MLX) we wish they would spend that much on the dismal buy-back.. How about a special dividend?

• Queensland Pacific Metals was awarded an $8m grant from the Australian government under a critical minerals program (QPM)

• Renascor Resource was granted $5m from the Australian government under a critical minerals program (RNU)

• As Capricorn Metals marches its way towards all-time highs once again, we are reminded of something we have heard more than once about the gold miner’s M&A appetite

• Word on the Decline is that Mark Clark and his team are more likely to be sellers than buyers, should a bid for the company arise at a typical premium

• The trouble is Capricorn already trades at a hefty premium to peers because of its proven management team. And if the rumour is true, we doubt the Capricorn dream team comes with a deal!

• So we’re left suspecting Capricorn will need to deliver Mt Gibson before a deal can happen here, absent them lowering their value expectations to a nil premium merger…

• If you’re like us and you’re still trying to learn about Friedland’s Ivanhoe Mines and the enormous Kamoa-Kakula copper project, spend a few minutes flicking through the project’s VRIFY site tour. It’s awesome.

• Canadian Conservative party leader Pierre Poilievre, outlines his plans to get mines approved in “18 months not 18 years”. He’s the favourite to win the next election, scheduled to occur before Oct’ 25

• Alinta Energy is set to build a 300-megawatt battery storage system in Wagerup, WA, which is estimated to cost $500m (BN)

• “BHP’s nickel blunder a timely reminder for Australia”, by AFRs Chanticleer

• “Alarm bells should be ringing over moves by miners big and small to develop opportunities overseas at the expense of local projects” (BN)

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