• Carlyle’s Jeff Currie says long copper represents “the most compelling trade I have ever seen in my 30-plus years of doing this” (Bloomberg)

• Panicked traders are ramping up bets on industrial and precious metals as an intensifying supply squeeze grips global markets (AFR)

• Transhippers are loading iron ore from MinRes’ Onslow onto bulk carriers for the 1^st time as Ellison explorers adding 3^rd party transhipping work (The West)

• Lithium miners are shaking up the way the commodity is bought and sold to tackle wild price swings (Bloomberg)

• Nickel is booming, but for how long is the question (MiningNews)

• Nickel jumped to its highest level in almost 9 months after political violence in New Caledonia disrupted production in the territory (FT)

• AlphaHPA announced Stage 2 FID, stating it’s not seeking green premiums, it’ll compete head-on & is offering a better product in many cases (The Australian)

• BHP averts Pilbara industrial action as train drivers voted for a new workplace deal in return for $40,000 in bonus payments (AFR)

• Peter Dutton’s refusal to endorse the federal government’s plan for production tax credits for critical minerals processing and green hydrogen won’t make him popular in must-win WA seats (AFR)

• An Indonesia minister said Elon Musk would consider an offer to build an EV battery plant in country (Reuters)

• USD Gold has hit a fresh nominal high of US$2,440/oz, as the USD fell and treasuries rallied on the back of rate cut expectations (The West)

• Asian shares hit 2-year highs while metals and mining stocks surged as investors wagered on interest rate cuts around the corner and China stepping up efforts to steady its ailing property sector (Reuters)

• Top Anglo shareholder Legal & General has backed the company’s breakup plans & is confident management can fend off BHP (FT)

• Key BHP investors including AFIC are supportive of the mining giant lifting its bid for Anglo American, but by how much? The May 22 deadline to make a final bid is fast approaching…. (AFR)

• Investors are tipping a Cyan Renewables bump for MMA Offshore, with the stock trading 5c above the $2.60 price (The Australian)

• Hammer Metals received its initial consideration of $4m in cash & 9m shares for the sale of the Mt Hope sub-blocks to Carnaby (HMX, CNB)

• Amp Energy reached an agreement with Iron Road to develop its Advanced Fuels project on IRD’s South Australian Industrial Precinct, which could net it up to $23m (IRD)

• Alcoa has amended its scheme with Alumina Limited to allow for CITIC Group to receive a portion of consideration in non-voting convertible shares (AWC)

• AMCI launched a $47.4m block trade of its holding in Jupiter Mines after market yesterday (AFR)

• After advising it had shelved plans to explore downstream lithium partnerships with global giant Albemarle last week, Patriot Battery Metals are raising c. C$75m via a flow-through raising, which includes a c. $44m CDI component to Aussie investors (AFR)

• Rincon Resources entered into a trading halt yesterday, pending a capital raising (RCR) surprise, surprise!!

• Cooper Energy uploaded a new investor presentation today which reminds us… The company’s decommissioning profile and balance sheet have been a drag in recent times, yet Cooper is a name that finds its way into consolidation conversations these days when talking about the Australian energy market. It seems there’s a new O&G tie-up rumour each week but we’re not ruling this company out of the conversation.

• Podcasts worth looking into for commodity investors: Jeff Currie on why copper is his highest-conviction trade ever (Odd Lots) and Adam Rozencwajg on AI demand, energy & precious metals (MacroVoices)

• “The case for higher-for-longer copper prices is there, but bullish exuberance could use a dose of reality” - Javier Blas (The World for Sale author) (Bloomberg)

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