• Local MPs from opposing sides warned Coalition leader Peter Dutton his plan to build a nuclear reactor in Collie will face stiff opposition (BN)

• The Minerals Council of Australia has given Peter Dutton’s plan to build seven nuclear plants its seal of approval (West)

• MinRes is shutting down its high-cost iron ore mines in the Yilgarn in a move that will affect about 1000 workers (AFR)

• Analysts are divided on Beach Energy, with a wide range of views emerging following the company’s strategic review (The Australian)

• A Dutton government would undergo a detailed study of the tech specifications needed for its proposed nuclear plants (The Australian)

• China issued new guidelines for its lithium-ion industry, aiming to transform, upgrade & promote growth amid rapid expansion (Reuters)

• Energy players warned not enough gas projects are being built to avoid shortages, with Chris Bowen ruling out subsidies (The Australian)

• Gold edged up after data suggesting lacklustre U.S. economic activity kept alive hopes for at least one interest rate cut this year (Reuters)

• Australia’s energy networks can’t wait for nuclear power to come online to solve reliability issues, Delta Energy’s CEO has said (The Australian)

• China is building a battery supply chain for Europe in Morocco, as the continent struggles to develop its own industry (Bloomberg)

• The first round of bids for Labor’s energy policy received bids with a combined capacity of 4x what the government sought (The Australian)

• Shell urged the federal government to remove duplication & inconsistency across state & national energy regimes (The Australian)

• Oil prices were largely steady, near their highest levels in seven weeks as the market weighed concerns over escalating conflicts (Reuters)

• Spot copper is again trading at a steep premium to later-dated futures in NY, putting fresh pressure on holders of short positions (Bloomberg)

• Dataroom put forward that Australian super funds are taking a look at Singapore Power’s stake in Jemena, the owner of energy infrastructure assets across Australia

• Cyan Renewables has upped its bid for MMA Offshore to $2.70, going best and final (MRM)

• AlphaHPA completed its SPP, adding $5m to the $175m raised from the institutional placement (A4N)

• Mayur Resources is in a trading halt for a capital raise (MRL)

• Antipa Minerals announced it had secured $6.7 in funding to continue exploration at Minyari Dome (AZY)

• Magnetite Mines has launched an entitlement offer to raise $5m (MGT)

• We have been gathering some opinions on how BHP is expected to act in relation to the for-sale coal assets from Anglo American in Queensland. A few things stick out to us:

  1. On paper, bidding makes absolute sense: The crown jewels in the portfolio are the Grosvenor and Moranbah North mines. This is the good shit. But the rest is of no interest to BHP and Anglo wants to sell the lot to a single bidder

  2. BHP is somewhat constrained by its JV partner, Mitsui & Co: While we don’t believe it is an explicit term of their JV agreement, for all intents and purposes, BHP needs to act in consortium with Mitsui, who has notoriously slow internal approvals in what will be a fast sale process by Anglo (it’s the quick single)

  3. Some believe that a deal with BHP would require complex antitrust approvals (we suppose they’d have a monopoly on the best coal seam?)

  4. BHP has its own set of internal politics to navigate that will hinder its chances to be competitive in an expedited sale process

• Let’s see how it pans out. For now, Glencore is short odds favourite to scoop up the mines. Will they get a bargain in a process that doesn’t involve a bid from BHP? We still think the size of the prize is worth it for the Big Australian to at least try to overcome the above obstacles.

• And recall our Word on the Decline yesterday? We will have more to say about that in today’s show. But for now, refer to this sentence from a Street Talk article last week. Is it all starting to make sense why now?

  

• Australian schools need to pay more attention to energy security & the importance of mining, according to the Minerals Council CEO (The Australian)

• Augment’s AI-backed blasting tools are gaining traction from the majors (International Mining) led by Brice Gower of GC podcast fame debating Trav on blockchain and owner of the 1st ever Hooteroo hat sold

Were you forwarded this email from someone else?

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.