• AlphaHPA and Renascor have been announced by the Commonwealth government to receive $585 million loans for their respective projects (AFR)

• Mining industry lobbying has won out against national environmental regulation reform, which has now stalled (AFR)

• Output from the world’s number two iron ore producer, Vale, topped estimates with 70.8mt of first-quarter production (Bloomberg)

• Billionaire Gina Rinehart has amassed a 5.82% position in Lynas Rare Earths via her private company Hancock Prospecting (Bloomberg)

• Rio Tinto said it expects to see strong iron ore demand from China as steel exports surged, while expecting internal stimulus to continue (The Australian)

• BHP’s flagship iron ore business will consume seven times more power by 2040 because of fleet electrification, resulting in gas-fired power station expansion being required until 2053 (AFR)

• Jeremy Weir, Trafigura CEO, has said miners need copper over $10k/t, possibly as high as $12k/t, to fill a potential supply gap (Bloomberg)

• The Biden administration is set to reject the construction of an access road to the Ambler mining district in Northern Alaska (Reuters)

• A senior Rio exec has stated that the company aims to keep all copper from its Resolution mine inside the US, should it be approved (Reuters)

• Europe will restart magnesium mining for the first time in more than a decade, as the EU attempts to reduce reliance on China (FT)

• Glencore-backed nickel miner Horizonte Minerals has failed to secure financing and is now looking to sell its Brazilian nickel mine (FT)

• Sev.en’s acquisition of a stake in Coronado from EMG is still yet to complete six months after the announcement (The Australian)

• Stanmore’s sale of the southern tenements of Ward’s Well to Peabody for US$136 million has completed (SMR)

• Macmahon shareholders are uneasy with the $127 million Decmil acquisition (The Australian)

• Strickland has emerged with their acquisition of the Rogonza project in Serbia for $37 million in shares (STK)

  

  Headline 5.4Moz AuEq - but there’s five metals contributing with an assumed 80% recovery on all in the Resource…

• Perenti is proposing to issue US$350 million new debt via the US bond market in a refinancing of their existing debt securities (PRN)

• Brazillian PE group, Ore Investments Ltda, has cornerstoned a $4.2 million placement in Alvo Minerals at a 25% premium to last (ALV)

• Windlab, which was taken private by Squadron Energy & Federation AM in 2020, has kicked off meetings, seeking nearly $1b in debt for its Queensland wind farm (AFR)

• Gina emerged as a substantial shareholder of Lynas last night, buying $40 million of stock yesterday alone

  

• The odds of a Lynas merger with MP Materials just shortened with Rinehart happy to be above the disclosable threshold in both companies

• Imagine a consolidated rare earth producer ex-China, with Gina a sizable shareholder

  

• Chairman Powell of the US Fed has cautioned that persistently elevated inflation is likely to delay any interest rate cuts until later this year (AFR)

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