• Glencore chief Gary Nagle defended South Africa’s mining sector as speculation continued that the Swiss commodity house could yet mount a rival bid for all or part of Anglo (FT)

• Mike Henry stressed BHP’s “discipline” (16 mentions in his BofA speech) - will the Anglo board come to the table now? (The Australian)

• Sprott Physical Copper Trust filed its preliminary prospectus for its proposed IPO (Global Newswire)

• Copper futures surged as short squeeze gripped US markets, with futures surpassing the previous March 2022 record (Bloomberg)

• Liontown, Lynas and Wyloo gave Labor’s production tax relief the thumbs-up (The West) What do these names have in common?

• Two Brazilian states have asked a court to more than double the amount that miners Vale and BHP, plus a jointly owned tie-up, must pay in damages for the deadly 2015 tailings dam failure (Reuters)

• Teck Resources sees $3b in annual EBITDA if copper stays around current levels (Reuters)

• MinRes’ new 20,000-tonne transhippers rock up to WA from China for $3b Onslow iron ore mine (The West)

• Billions are not enough to realise critical mineral and renewable hydrogen hopes (AFR)

• Junta-led Niger faces US sanctions threat over uranium deal with Iran (iranintl)

• Rio is investigating its 3^rd autonomous train derailment within 11 months, insisting driverless system is not at fault (The West)

• JP Morgan has said clients are piling into commodities, anticipating the needed infrastructure for an AI rollout will spur demand (Bloomberg)

• Qatar, the world’s largest LNG producer, is increasing capacity and forecasted global demand to grow beyond 2030 (Bloomberg)

• CBMM is assuaging supply fears as it wants to grow the overall niobium market, insisting there are plenty of deposits while targeting 30% of revenue to come from non-steel end uses by 2030 (FT)

• The US blamed CMOC for predatory tactics behind a cobalt glut, saying the firm is flooding markets & harming Western development (Bloomberg)

• BHP’s hopes of buying Anglo American are fading fast, with boss Mike Henry taking his pitch directly to Anglo investors, in effect arguing they need to decide who they trust more (AFR)

• Rio chief ‘not afraid’ of M&A as Anglo American break-up looms (AFR)

• Whitehaven and Stanmore are reported to be amongst the parties circling for Anglo American’s coal assets flagged to be divested (The Australian)

• Peninsula Energy raising $106m (PEN) This one was written on the wall, just 6 months from their last $60m raise.

• Magmatic Resources are in a trading halt to raise capital (MAG)

• Queensland Pacific Metals raised $19m for its Moranbah Gas project (QPM) $8m carved out for corporate & working capital costs feels heavy

• Maronan Metals raised $5.6m via placement, targeting a further $1.5m through an SPP for Ag-Pb and Cu-Au targets in North QLD (MMA)

• Calidus Resources completed a scaled-up $6m SPP to help pay down debt and provide working capital (CAI)

• We have heard whispers that Anglo American’s Woodsmith project has its fair share of technical hurdles ahead of it. Ignore the fact that polyhalite is an unproven product (how many farmers will be putting their hand up to try that?), the bigger challenge involves the sandstone zone, where the project’s shafts have apparently just reached. Word on the decline is the sandstone is much harder than initially expected and the Shaft Boring Roadheader is ineffective. There is also immense water pressure in the sandstone zone too, so engineering a workaround does not sound straightforward.

• Two widely different articles on the good and bad that mining can bring to communities, both from a Brazilian perspective, exploring the recent lithium boom & the ramifications of the Brumadinho disaster

• The Chinese government is contemplating one of its most radical strategies to save its property sector, considering a proposal to have local governments buy unsold homes (Bloomberg)

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