• BHP is heading into mediation with union leaders in Chile in a bid to avoid a strike as copper’s surge lifts wage expectations (Bloomberg)

• London-listed Antofagasta signed a $1.5b investment deal to improve water supply at its Chile mining operations (Mining.com)

• De Beers’ chief aims to transform the diamond miner into a leading luxury jewellery retailer as it reels from its worst year in over 20 years (FT)

• An independent report into Sandfire’s disturbance of an Indigenous site found previous management oversaw a siloed workforce with inadequate systems which failed to realise its “ESG obligations” (AFR)

• Freeport Indonesia raised its copper concentrate output guidance to 3.78Mt, as it awaits an extension of its export permit (Reuters)

• Uranium miner ERA has not given up hope its Jabiluka mining lease will be extended, despite a recent NT government ruling (AFR)

• Bravura – a firm owned by Nigerian tycoon Benedict Peters – plans to start production at a Zimbabwean lithium project early next year (Bloomberg)

• Indonesia’s wealthy Salim family scooped a $273m dividend from a coal mine it bought from Rio for $320 million, despite profits halving (AFR)

• The US ban on Russian uranium imports will accelerate efforts to revitalise the domestic nuclear fuel industry and redefine the global market (Reuters)

• The EU cleared €1.75b compensation for eastern German coal exit by 2038, in an effort to speed up decarbonisation (Reuters)

• UBS sees gold heading towards A$4,000/oz and expects more M&A in the ASX sector ahead (MiningNews)

• Min Res will bank $1.2 billion for the sale of 49% of their haul road to Morgan Stanley Infra, implying a sale price of 9.4x EBITDA (AFR, MIN). We thought we’d have to do our own quick-take on this deal but then we saw the Kav comment on LinkedIn and we’re just going to steal that instead…

  

• Glencore is rumoured to be weighing up selling a stake in Kazakh miner Kazzinc which has attracted interest from China (Bloomberg)

• Aluminium producer Novelis postponed IPO plans that sought US$945m, stating it’ll “continue evaluating the offer timing” (Bloomberg)

• The Supreme Court of WA approved the Scheme for the merger of two gold explorers Horizon Minerals and Greenstone Resources (GSR)

• Emerald finally completed its takeover of Bullseye Mining (EMR) EMR made its initial takeover offer for Bullseye back in December 2021!

• Stavely Minerals is in trading halt pending a capital raise (SVY)

• Fortuna Silver is raising US$150 million via a convertible debenture to repay existing debt (FSM)

• Ausgold raised $38 million to ‘accelerate development’ of their Katanning gold project with a DFS (AUC) - finally in the ‘definitive’ study stage for the developer that has done more studying than a PhD!

• Here’s an op-ed by WA’s Chamber of Minerals & Energy CEO, Rebecca Tomkinson, titled "“WA needs a bold new vision to become global renewable energy superpower”

• Gazprom is unlikely to recover gas sales lost as a result of the war for at least a decade, according to a report commissioned for the group’s leaders (FT)

• Ferg dropped a thoughtful piece on his uranium trade positioning in the aftermath of Boss Energy’s insider selling (Substack)

• Shut out of the US by tariffs and facing a backlash in Europe, Chinese carmakers could end up dominating many emerging markets (FT)

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Disclaimer

All information in this newsletter is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine are not financial professionals. Money of Mine are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional, along with considering any relevant Product Disclosure Statement. Money of Mine does not operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. Money of Mine strives to ensure the accuracy and currency of the information contained in this newsletter but we do not make any representation or warranty that it is accurate, reliable or up to date. Any views expressed by the hosts of Money of Mine are their opinion only and may contain forward looking statements that may not eventuate. Money of Mine will not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of information in this newsletter.