• BHP’s Australia chief said the nation can’t rely on its traditional mining export markets and is unprepared for a new era of lower-cost competitors (Bloomberg)

• Rio may be forced to build a second, $400m desalination plant after traditional owners demanded the gov’t halve the amount of groundwater extracted (AFR)

• Big super demands MinRes board come clean on founder’s private deals (AFR)

• Rosatom, the world's largest supplier of enriched uranium, said it was delivering uranium to all of its customers as usual and that supplies to the US could take place under a special regime (Reuters)

• Resolute will pay Mali’s military-led gov’t $US160m to settle a ‘tax dispute’ that resulted in the arrest of 3 employees (AFR, Australian)

• The billions of dollars generated by QLD’s hefty coal royalty rates are a short-term “sugar hit” that isn’t in the state’s long-term best interests, BHP said (West)

• Wyloo delivered a reprieve to Hastings, withdrawing a debt default that threatened to push the struggling rare earths developer into insolvency (AFR)

• Heightened mining taxes will stay but QLD premier Crisafulli promises ‘fairer’ system (Australian)

• China’s cancellation of tax relief on exports has left the aluminium industry scrambling to assess the impact on supply flows (Bloomberg)

• Goldman Sachs is urging investors to choose copper & aluminium over iron ore in 2025 as weak demand from China collides with an excess supply of (AFR)

• Gold will rally to a record next year on central-bank buying and US interest rate cuts, according to Goldman Sachs (Bloomberg)

• Macmahon was awarded $90m, two-year contract extension at Daisy Milano gold mine (West)

• Nickel miner Prony Resources New Caledonia has brought its staff back as it prepares to restart after a 6-month suspension triggered by riots (Bloomberg)

• Scandal-plagued Mineral Resources has created a specialist legal counsel role ahead of AGM (West)

• Orla Mining is acquiring the Musselwhite mine in Canada from Newmont for US$810m upfront cash consideration plus US$40m contingent. Financed with a gold prepayment, debt facility and convertible notes (ORLA.T) the mine produces 202kozpa and has reserves of 1.5Moz gold

• Sayona and Piedmont are set to merge, both stocks are in a trading halt and Street Talk is confirming there’s an equity raise associated with the deal too

• Sayona’s merger with Piedmont will be accompanied by a A$150m equity raise (AFR)

• ERA completed the shortfall bookbuild, with no surprises that zero bids were received (ERA)

• Cokal has entered a strategic partnership with commodity house, Cratus, who will invest US$13m into a 50:50 infrastructure JV and provide US$7m directly to Cokal (CKA) Cratus will get marketing rights for 10yrs

• Danakali intends to list on the NSX to provide its shareholders liquidity and bypass the ASX’s “assets test” (DNK) the company has $31 million cash

• We think RCF is taking 10% of the combined Sayona / Piedmont pro forma… Are they trying to replicate their Pilbara / Altura returns?

• MinRes board fails the pub test. Again (AFR’s Chanticleer)

• Offshore oil is back. At what cost? (FT’s Big Read)

• Why even Toyota is falling behind in the EV race (AFR)

• The world according to Coppo and why he thinks MinRes is a ‘screamer’ (AFR Monday Fundie)

• PauloMacro’s deep dive into the striking parallels of the current US equity market to the 1970s Nifty Fifty (Substack)

• Can I get an encore, do you want more (coal gen)? (Coal Trader)

• Bell Potter’s track record of trades with MinRes (AFR’s Rear Window)

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