Palladium and Platinum Surge as Sibanye Stumbles

IGO says lithium to be a wild ride

The Pre-Start

  • Drill-for-equity is all the rage as both Medallion and Brightstar announce drilling programmes at Ravensthorpe and Sandstone respectively (MM8, BTR)

  • Barrick says a feasibility study on Lumwana Super Pit expansion will be finished by year-end (ABX.TO)

  • Vulcan Energy has appointed one new director as 3 others are set to retire next quarter (VUL) and simultaneously released a 14pg management report

  • Evolution Energy’s CFO resigned, the third executive to leave in 2 months (EV1)

  • Atlantic Lithium received a key environmental approval for its Ewoyaa lithium project in Ghana (A11)

  • Aurelia’s major shareholder Lyn Brazil has upped his stake to 19.9% (AMI)

High Grade It

  • Fundies ring the bell on lithium prices after a protracted rout (AFR)

  • IGO chief Ivan Vella says extreme volatility in lithium prices will continue for at least a decade (AFR)

  • Chalice backs WA state gov’t call not to “sterilise” Julimar forest potential (West)

  • Investors keep buying spodumene producers, but UBS are still bearish (MiningNews)

  • Origin has approval to run Eraring at a lower minimum level when there’s little need, increasing the profitability of the facility (Australian)

  • Vladimir Putin hints at curbing uranium exports (FT)

  • Lithium stocks extend gains on reported output cuts in China (CB)

  • WA lithium miners get another share boost after China, while uranium stocks also surge on Putin warning (West)

  • Sibanye will slash output from its Montana PGM operations by 45% (Bloomberg)

  • China's bauxite imports hit a record high again in July, with the rainy season in Guinea becoming more evident (SMM)

  • Centennial Coal is axing 200 jobs at its Mandalong mine after failing to win a new supply deal with Origin for Eraring (Australian)

  • Resolute adds ounces and Cote d'Ivoire to its portfolio (MiningNews)

  • More Chinese solar companies are ending up in court as the industry contends with massive overcapacity and deepening losses (Bloomberg)

  • Vale continues to grow its iron ore production, anticipating 10% to come from tailings by 2030 (Reuters)

  • Platinum production from South Africa is as low as it was pre-COVID (Mining.com)

  • Boliden says the expansion of its Odda zinc smelter in Norway will take longer cost 100 million euros more than expected (Reuters)

  • Codelco has reached collective bargaining agreements with El Teniente and Ministro Hales unions (MiningNews)

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Wheelin’ n Dealin’

  • Antipa has sold its entire 32% interest in the Citadel Joint Venture to Rio Tinto for A$17 million (AZY) on completion AZY will have $23 million to fund Minyari drilling programmes

  • Federal Court of Australia approved the Base x Energy Fuels scheme. Deal due to complete by early October (BSE)

  • Ramelius is set to sell its Ularring copper-gold project to Constellation (Australian Mining)

  • Triton provided an update on the progress of its Mozambique graphite asset sale, expected completion of Feb ‘25 unchanged (TON)

  • Jack Lundin said several potential buyers are looking at its mines in Europe as the Canadian metals producer looks to sell its oldest assets (Bloomberg)

  • Rio Tinto now holds 19.9% of Sovereign Metals (SVM)

  • Alltech executed an offtake letter of intent with Zweckverband Industriepark Schwarze Pumpe for Cerenergy Gridpacks (ATC)

Rattlin’ the Tin

  • Canada Nickel says it has a letter of support for debt financing of up to C$500m in its Crawford project (CNC.TO) still find this project a head-scratcher…

  • Brightstar’s $4m allocation to AusKor penned for Tranche 2 in its recent placement has been reallocated to other investors (including Lion Selection for $1.5m) (BTR) they’re still working on funding arrangements for up to $40m debt finance

  • Carnavale raises $2.2m to fund exploration and resource growth at Kookynie (CAV)

  • Matsa is in a trading halt raising capital (MAT)

Word on the Decline

  • There are whispers of some more bad news on its way to the WA lithium sector. We are hearing rumours that C&M at another operation is around the corner…

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In the Weeds

  • Stop taking our mining good fortune for granted. Mining has made all Australians prosperous, not just miners (AFR Opinion)

  • Oil traders confront a new world without the China bull factor (Bloomberg)

  • Time, value and regulatory risk are the three big themes dominating Australian M&A (AFR)

  • How China has ‘throttled’ its private sector (FT)

  • The collapse of the Ballarat gold mine has revealed how millions flowed to a network of Chinese businessmen. Now liquidators want the money back (AFR)

  • Metro Mining released an interesting preso on bauxite and aluminium market dynamics (MMI)

  • Lithium World Asks If Surprise Mine Shutdown Can Arrest Slump (Bloomberg)

  • What's China's carbon market and how does it work? (Reuters)

  • Why uranium supply is approaching a tipping point (Livewire)

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Is this Lithium Bottom In? (65 mins)

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