IGO to Join Regis against S32's Allegations

Lithium under pressure as China hones dominance

The Pre-Start

  • IGO submitted an application to join Regis in the Supreme Court in relation to South32’s allegations of unpaid royalties at Tropicana (RRL, IGO)

  • Strike Energy has submitted an application to construct and operate an 85 MW peaking gas power plant with operations to commence by Oct 2026 (STX). Modelled to generate $40m-$50m revenue per year and targeting FID Nov 2024

  • Swedish polymetallic explorer Alicanto restructured the executive team with Ray Shorrocks appointed as interim Executive Chair along with a host of other ex-Bellevue alum (AQI)

  • 3D Energi has entered a gas sales right of first refusal agreement with ConocoPhillips (TDO)

  • Orion Minerals has hit 9.27m at 3.01% Cu within 78m averaging 1.57% Cu at their Flat Mine East (ORN)

  • Renascor has kicked off an ECI process with GRES and Primero in relation to its Siviour graphite project in South Australia (RNU)

  • Catalyst Metals to develop Plutonic East (2km from the mill) using existing cashflows. Decline rehab to commence in Q1 FY25 with first ore expected in Q3 FY25 (CYL). Plutonic East hosts an NI 43-101 resource of 522koz Au at 4.1 g/t Au.

  • West Arunta hopeful Encounter Resources has intersected 52m @ 3.0% Nb2O5 about 15km from the WA1 Luni discovery (ENR)

  • Galan Lithium has appointed a new CFO in Ross Dinsdale (GLN)

Encounter’s Crean Carbonatite

High Grade It

  • Pilbara boss Dale Henderson said weak lithium prices haven’t distracted him from the “long-term prize” while presenting the P2000 PFS (AFR)

  • BHP’s new iron ore boss Tim Day isn’t hung up on China property woes (The West)

  • Tianqi has slammed the Chilean regulator for allowing a deal between SQM & Codelco to go through without a shareholder vote (Bloomberg)

  • A senate enquiry into the Perth Mint takes aim at former premier Mark McGowan and the board for failing to explain major governance failures (The West)

  • Native titleholders over the lands that host FMG’s Solomon hub want regulators to investigate the site’s environmental & heritage compliance (AFR)

  • The US will partner with Angola to develop a major African mineral processing hub (MiningNews)

  • WoodMac said lithium prices could be under pressure for the next four years as a projected surplus plays out & China remains dominant in refining (The West)

  • Canadian gold producer Agnico Eagle completed a PEA for its Detour Lake gold mine in Ontario (MiningNews)

  • A twist in the Northern Minerals hacking saga, with experts citing hackers were “almost certainly” not from China (The West)

  • After years of being criticised for high costs and inaction, Deterra Royalties has bid for Trident Royalties, & is now facing backlash (AFR)

  • Palladium surged to the highest in a month as traders bought back their bearish bets amid restocking activity by automakers (Bloomberg)

  • Advocates for green iron are arguing Australia has the chance to create an enormous new export industry, with hydrogen & renewables key (The Australian)

Wheelin’ n Dealin’

  • Paladin Energy is in a trading halt pending a potential acquisition. The AFR reported Fission Uranium as the target (PDN)

  • The 159-page Arrangement Agreement between Karora and Westgold has landed, dig in deal junkies (WGX) We know what Ramelius will be reading this morning

  • China Baowu Steel Group has completed its purchase of a stake in the Simandou project in Guinea from Winning Consortium (Bloomberg)

  • Dataroom has indicated that Anglo is set to charge a bank with the sale process for its Qld Coal division shortly (The Australian)

  • Magnetic Resources is looking for debt for its Lady Julie gold project and has appointed advisers (MAU)

Rattlin’ the Tin

  • Taurus is providing American West Metals with US$12.5 million for a 0.95% gross override royalty over the Storm copper project (AW1)

Word on the Decline

  • The Paladin trading halt. Believe it’s Fission

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In the Weeds

  • Money of Mine guest favourite Sean Russo reckons “being nobody else’s liability is a strong credential for gold” (MiningNews)

  • Local environmentalists accused Jakarta of prioritising the mining of nickel over the nation’s biodiverse rainforests (FT)

  • On the weekend I watched this video on the making of Fortescue. Yes, it’s a bit fluffy. But it’s also pretty educational if Fortescue was before your time too. And at 46:02 you’ll hear Twiggy copying Matty lately…

  • Rio has urged the federal government to make crops grown for the production of biofuels eligible for Australian Carbon Credit Units (AFR)

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Today’s Top Tweet

Devil’s in the Detail

A quick squiz at the Westgold Arrangement Agreement with Karora and we’ve got to say there’s a lot of redacted information which I find pretty unusual…

Righto then…

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