• One of the China-linked investors ordered by the federal government to sell stock in NTU narrowly lost a hostile bid to gain a board (AFR)

• Fortescue accused two architects of its clean energy pivot of taking the company’s IP when they left to start a rival green iron project (AFR)

• MinRes has been called out by Ownership Matters in a report suggesting multiple MinRes employees were invested in the Kali Metals IPO (AFR) to quote, “investors may wish to question the adequacy of related party disclosure requirements in Australia.”

• Trafigura posted its smallest first-half profit since 2020 — down 73% from a year earlier — as it adjusts to calmer conditions (Bloomberg)

• BHP’s pursuit of Anglo had one big takeaway - more mining investment is needed (FT)

• Copper’s recent surge to a record wasn’t justified by real-world supply and demand, according to Trafigura (Bloomberg)

• Saudi Aramco lowered prices for all of its oil to Asia next month, the first reduction since February, over demand concerns (Bloomberg)

• Albemarle improved its lithium spod auction sale price, reportedly selling 16kt at US$1,210/t, but growing African spod & Chinese lepidolite stockpiles continue to cloud ASX producers (The West)

• Codelco is targeting 2030 production from its Marcunga lithium project, with advisers searching for a partner already (Reuters)

• A wave of aluminium scrap is set to hit global markets, as the industry comes under decarbonisation pressure (Bloomberg)

• SolGold has finalised its exploitation agreement with the Government of Ecuador which the government is guaranteed a minimum of 50% of the cumulative discounted benefits from the Cascabel project (MiningTech)

• WA Liberal Party leader Libby Mettam vowed to ‘slash green tape’ to free up $318b in resource projects (The West)

• Citi tips iron ore to plunge into a bear market amid ongoing concerns about Chinese steel demand & increasing Australian supply (AFR)

• Most Americans say they would pay more for an American EV over Chinese, even at higher price differentials (AP-NORC)

• Market Index looks at the changes to mining stock coverage, upgrades and downgrades from the brokers recently

• Newmont doubled down on divesting Telfer by early next year, despite tailings dam issues (The Australian)

• Another day, another WA gold scheme was approved. The Supreme Court of NSW approved the Red 5 and Silver Lake merger yesterday (SLR). MD Luke Tonkin’s performance rights vested, worth c. $4m

• It’s goodbye to West African gold producer Tietto as it was officially removed from the ASX yesterday after its takeover by Zhaojin (TIE)

• A group of minority shareholders in takeover target, Metallica, have reached a blocking stake of 11.35%, making a compulsory takeover from Diatreme impossible on the current terms (Mining.com.au)

• MetalsTech announced that a key condition of their takeover, the granting of an underground mining permit, was received (MTC) We remain sceptical given not even Google can help us identify the buyer

• Remember Navarre Minerals? The former Victorian gold explorer who got “clever” in 2021 and bought Mt Carlton gold mine from Evolution then rapidly found its way into administration... Well, they’re coming back with a recap after being released from DOCA (NML) And this time, focussing only on Victorian gold again…

• B2Gold and Sandbox Royalties partner to create Versamet Royalties and B2Gold receives $90 million equity interest for the new entity (JMN)

Northern Minerals’ Chair had this to say in yesterday’s Chair address.

• China is ramping up grid investments to keep pace with renewables that’ve put the electricity network under unprecedented strain (Bloomberg)

• Newmont CEO: “Gold equities are in the doldrums because investors are asking if they can generate free cash flow necessary to run their business, to reinvest back in the business & to deliver returns.” (AFR)

• Indonesia & South Korea signed an MoU to incentivise a reduction of carbon emissions produced by companies (Reuters)

• Silver gets its time in the sun in 2024 (Livewire)

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