• The NT rejected ERA’s request to extend a lease over the undeveloped Jabiluka, dashing some investors production hopes (AFR)

• ‘A lot of politics’: Investor Willy Packer dismayed as ERA loses bid to revive uranium mining in the Northern Territory (West)

• MinRes announced $600m in pre-sold iron ore in its quarterly results, which got some analysts worked up (AFR)

• Indonesia is trying to reduce Chinese investment in new nickel mining & processing projects to help it qualify for tax breaks in the US (FT)

• Anglo American faces headwinds as it restructures, writing down Woodsmith by US$1.6B and ceasing production from Grovenor after the fire (Bloomberg) nice call by our intern, Hobbsy, on Woodsmith!

• Chinese rare earths company Shenghe plans to set up an outpost in Australia to advance its local interests (AFR)

• Codelco posted a decline in first-half copper production, with output 8.4% lower than the first six months of last year (Bloomberg)

• Activist investor, Bluebell Capital, has taken issue with BP’s “wasteful” spending on wind and solar (Bloomberg) the same activist wanted Glencore to split out its coal business in 2021...

• Vale, the world’s 2^nd biggest iron ore supplier, posted Q2 results that slightly trailed estimates after facing higher expenses (Bloomberg)

• Tianqi appealed a ruling by Chilean regulator CMF that shareholder approval isn’t needed to advance the SQM-Codelco tie-up (Reuters)

• Boss Energy made a $550m bid for uranium project Jabiluka prior to Prime Minister Albanese’s veto (AFR)

• Bloomberg has gotten the industry talking about M&A at the big end of town over the weekend once again. It says Teck is a target for BHP, Rio and Freeport but a merger with either Anglo American or Vale’s base metals business could also be on the cards (Bloomberg)

• M&A arbitrage funds are sitting on the sidelines of the ‘Fumble in the Jungle’ aka Battle for Sierra Rutile (AFR)

• Zijin’s 9.9% investment in Montage for C$57.3m this month is a potential test case for dealmaking within the bounds of ‘acceptable’ for Canadian listed miners (Bloomberg)

• Glencore is rumoured to be the front-runner for Anglo American’s Queensland coal assets (Australian)

• Baosteel doubles its investment in Saudi steel plate venture to $1b (Bloomberg)

• Macquarie’s has reversed its ban on M&A advisory for coal deals (AFR) we reckon they should flick the ‘Critical Minerals & Energy’ team name too

• Provident has reached 88.9% of Sihayo as part of its takeover offer, now declared unconditional (SIH)

• S32 advised that all conditions precedent to the sale of Illawarra met coal to GEAR/M Resources have been satisfied (S32)

• Sierra Rutile reported the termination of the bid implementation agreement with Gemcorp, who have demanded a break fee (SRX)

• Deterra dropped a rare investor presentation today suggesting their sweet spot for royalty acquisitions is A$100-300m (DRR)

• Meteoric raised $27.5m by way of a placement and launched a $5m SPP (MEI) Stock was off +8% last Friday…

• Warreidar is raising $4m to fund exploration at its WA and Nevada gold assets (INSERT LINK)

• Listening to Eramet’s commentary on the manganese market in their H1 earnings call reminded us of some manganese M&A murmurs we picked up at a pub about a month ago

• Now, please discount this because it was a) at a pub and b) it’s been over a month and nothing has happened (“time kills deals” as my first boss says)

• But the word was that Jupiter had a deal in their sight. We were 6 pints in so the memory is blurry but I thought it had to do with consolidating the JV of Tshipi where JMS has a 49.9% interest

• Picking up OM Holdings’ 26% stake might be doable given Tshipi’s ore doesn’t even go to their Malaysian smelter…

• And as Koala has pointed out too, acquiring Anglo’s manganese assets may also make plenty of sense for Jupiter at some stage

• Ding ding ding on this name for some of the MoM team (so if anything comes to pass, we sure hope it’s accretive…)

• Listened to this podcast series about how De Beers won, defended, and ultimately surrendered its hold over the diamond mining industry. It’s an eight-part podcast series from Business Wars (Spotify, Apple)

• This Aaron Witt video gives you the low down on the Olive Downs complex in Queensland

• If you want to learn more about MinRes’ transhipping strategy, watch this video

• Old King Coal Remains Omnipotent and Omnipresent - opinion piece from Bloomberg’s Javier Blas (Bloomberg)

• A great episode on the importance of energy independence with Arjun Murti (Spotify, Apple)

• Vaclav Smil and the Value of Doubt (New Yorker) A long-form article on one of the academic giants of energy

• Why is Xi Jinping building secret commodity stockpiles? (Economist)

• Trav reckons Trump’s emphatic endorsement of Bitcoin is a pretty big deal… Watch yesterday’s address at the conference Bitcoin 2024 here

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