Date Set for ERA's Jabiluka Showdown

Activists emerge at Peabody while investors fight for control at Global Lithium

The Pre-Start

  • ERA advised the Federal Court of Australia listed a final hearing date for its Jabiluka legal proceedings of 28 Oct (ERA)

  • Macmahon confirmed that there was a fatal incident at Byerwen in QLD (MAH)

  • Activist investor Thompist Capital appeared with a 9.96% interest in Peabody, leading to a jump in the stock price (BTU.NYSE)

  • Chalice has reduced its board size to 4 members & implemented cost costs, reducing its monthly burn (CHN)

  • Cooper Energy updated its reserves & resources, with 2P gas & oil reserves of 33MMboe & 2C contingent resources of 48.4MMboe (COE)

  • First ore was mined from Beacon’s MacPhersons Reward open pit (BCN)

  • BCI Minerals finished FY24 with $259m, spending $218m over the FY. Conditions Precedent for drawdown to be met this year (BCI)

  • Global Lithium’s 249D dramas continue, now receiving a revised notice from ~7% shareholder Sincerity (GL1)

High Grade It

  • Japanese steelmakers fear rising royalties will curb coal projects and put supplies at risk (The Australian)

  • Regis boss Jim Beyer hits out at Tanya Plibersek over Juukan Gorge comparison (West)

  • A mine worker sadly passed away after a major incident at a QLD coal mine, weeks after another fatality at the same site (West)

  • Northern Star boss Stuart Tonkin warned of a “flight of capital” out of the resources sector on the back of Albanese gov’t decisions (AFR)

  • The first US shipment of copper from mines in the DRC to be transported by the Lobito Atlantic Railway has loaded (Bloomberg)

  • An army of short-sellers is nervously watching the rebound in iron ore prices this week amid signs that Beijing will introduce more aid (AFR)

  • Chile's Codelco could face US$8m fine for tailings dam violations (Reuters)

  • The federal government should step in & defend the system it set up to ensure miners have regulatory & fiscal security around new projects, Whitehaven MD Paul Flynn said (The Australian)

  • Miners including Rio Tinto & Teck take steps to minimize Canada rail shutdown impact (Reuters)

  • Gold hits record highs as investors bet on rate cuts (FT)

  • Labour prices are softening & gold has rocketed, but it’s a matter of time before costs jump, warned Stuart Tonkin (The Australian)

  • Patriot Battery Metals unveils lithium project economics as Chinese EV data raises hopes of price rebound (West)

  • A study showed lithium mining is slowly sinking Chile’s Atacama salt flat (Mining.com)

Auralia Mining Consulting

Wheelin’ n Dealin’

  • Japan’s “urgent” $1.6b coal deal driven by Queensland royalty storm (AFR)

  • South32’s sale of its Illawarra met coal project is expected to complete end of this month (S32)

  • Newmont’s sale of non-core assets is pegged for the year-end, with Macquarie advising the group (AFR) It floats a $500m price tag for Havieron + Telfer

Rattlin’ the Tin

  • DMC Mining is raising $5m (DMM)

Word on the Decline

  • Word is brewing that there are concerns regarding a section 10 application at Bellevue (similar vein to Regis), see some details in yesterdays Devil’s in the Detail. Here’s hoping everything resolves itself smoothly

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In the Weeds

  • Ford slows EV plans, delaying pickup and axing three-row SUV, to cut costs (Reuters)

  • An interview with Minerals Council CEO Stephen Galilee (AFR)

  • World’s second-largest diamond found in Botswana (FT)

  • Plibersek’s mine block alarms whole industry (AFR op-ed)

  • Between the Rise and Fall of the Lithium Prices (SMM)

  • 2 different articles on the charismatic and at times controversial mining entrepreneur, Robert Friedland (ME, BO)

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