• Tianqi Lithium warned investors it would post a net loss of as much as US$1.1b for 2024 & halts Australia expansion to cope with soft lithium prices (Bloomberg)

• Regis CEO Jim Beyer said it may have alternative proposals ready for McPhillamys by July or earlier, regardless of outcomes in the Federal Court, after revelations that departmental staff were never sent to site (Australian)

• Chinese industrial profits show commodities producers ending 2024 at the bottom of the pile, with this year looking no different (Bloomberg)

• Italy is planning to finalise plans & legislation by the end of 2027 that would allow the return to nuclear power generation after 4 decades (Oil Price)

• An underground tremor occurred early on Monday morning in Polish mining group PGG's Marcel coal mine, with numerous people injured (Reuters)

• Bolivia steps up lithium dealmaking despite growing opposition (Bloomberg)

• WA’s Exploration Incentive Scheme has doubled to $18m to support the state’s exploration sector (MNN)

• A freak weather event, with a truck being struck by lightening, burst a tyre and caused minor injuries at BHP’s Mt Whaleback iron ore mine in WA (West)

• Money managers boosted their bullish wagers on gold to the highest since October (Bloomberg)

• NextEra Energy has spoken with regional grid operators & filed notice with federal regulators about a possible restart of its Duane Arnold nuclear power plant (Reuters)

• Fighting has raged on in the eastern Democratic Republic of Congo city of Goma, as rebels and the army exchange fire (BBC)

• Fortescue has an agreed off-market takeover bid for iron-ore developer Red Hawk Mining for A$1.05/sh, increasing to $1.20/sh if 75% reached within 7 days. Red Hawk’s board recommend accepting the offer (FMG, RHK) Blacksmith is 30kms west of FMG’s Solomon operations

• Newmont agreed to sell its Porcupine operation to Discovery Silver for up to US$425m (US$200m cash, US$75m in Discovery shares + $150m deferred consideration) (NEM)

• Aston Minerals is merging with Torque Metals (TOR)

• BHP cools on having another crack at taking over Anglo American after blockbuster move last year (West) Anglo’s rising share price the impediment

• Aurum reached a relevant interest of ~90.2% of Mako Gold and is proceeding with compulsory acquisition (AUE)

• Newmont announced the earlier redemption of US$927m of its 5.3% notes due in 2026 as part of its deleveraging strategy (NEM)

• Lotus has signed debt term sheets totalling US$38.5m for the restart of its Kayelekera project in Malawi (LOT)

• Arrow Minerals is in trading halt pending a capital raising and response to an ASX price query (AMD)

• Cokal executed formal docs with Cratus Group for a US$7m coal prepayment and offtake facility (CKA)

• Galan advised that is has received proceeds from Chengdu Chemphys’ affiliate, totalling US$3m (GLN)

Well we had drafted this as our Word on the Decline today

The former CEO of a major gold miner who currently steers a silver company is rumoured to be sniffing around Newmont's Porcupine…

But then Newmont beat us to it by actually announcing the deal. Thanks Newmont.

So instead, here’s your alpha of the day - it’s geoalpha from Crimsoncarp on recent discoveries by Ausquest and Arras Minerals (Substack)

• Australia-China trade will be caught in middle of Trump’s tariff war (AFR op-ed)

• 2024 was a dire year for resource IPOs (MNN)

• A Short History Of… The Australian Gold Rush (Spotify, Apple)

• What’s behind financiers’ ‘blind spot’ on coal (FT)

• MacroHive Pod: How US Equities could underperform (Spotify, Apple) Part discussion on commodities to outperform throughout 2025

• Ross Beaty interviewed by the Northern Miner (NM)

• A woke mining boss shows why Trump’s DEI crusade will fail (AFR op-ed)

• Rwanda’s troublemaking in DRC would be easy to stop (FT op-ed)

• Tianqi’s Kwinana lithium plant was meant to be an industry torchbearer. Instead, it’s a disaster (West op-ed)

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