• Wesfarmers stakes Goldfields ground in hopes of a major rare earths find (West)

• AEMO warns gas supplies will be tight heading into critical summer period (Australian)

• Leichhardt’s $375m purchase of Rio’s Lake Macleod salt project near Carnarvon has completed (BN)

• Experts warn Australia will lose thousands of jobs to rival resource-rich economies if the federal gov’t fails to kickstart the green iron industry (West)

• Peru names new mining minister Jorge Montero (MiningNews)

• Fortescue gets $10m government grant to develop fast chargers for electric mining trucks (CB)

• Vale plans to offer more lower quality iron ore to adapt to the needs of a battered steel industry as it moves beyond being just a high grade supplier (Bloomberg)

• China hits back at U.S. with export ban on rare minerals, including gallium, germanium & antimony (Axios)

• APA has said a new solar farm & battery storage facility built to supply BHP is the first step & more will follow as it invests in renewables near existing gas-fired power stations (Australian)

• MinRes continues to push for 21-year lease of Kambalda Airport despite cuts to operations (West)

• FMG says it will build all of renewable energy assets needed to decarbonise the company’s iron ore operations in WA on its own tenements over the next five years (Australian)

• Rio & Sumitomo will partner on Winu, sharing a term sheet outlining whereby Rio will develop & operate Winu while SMM will pay US$399m for 30% (US$195m upfront, the remainder being deferred) (RIO) The deal is to be finalised in 2025, with a 10Mtpa PFS also expected to complete next year

• 29Metals launched a fully underwritten placement and ANREO to raise $180m to “facilitate a balance sheet reset and fully fund Gossan Valley to first ore” (29M) Dataroom reported 45% shareholder EMR opted out 

• Strandline has in-principle agreed to an extension of its existing standstill and deferral arrangement with its financiers until 28 Feb 25 (STA) Working towards agreeing a company recap in Q1 CY 2025

• Olympio completed its divestment of Mulwarrie to Labyrinth (OLY)

• Winsome announced a reduction of the initial payment upon exercise of its option to acquire Renard from C$15m do C$1m, whilst being extended to Feb 25’, with the balance of the consideration delayed until 2026 & 27’ (WR1)

• Blackstone Minerals announced an extension over its option to acquire Wabowden to Jan 3 (BSX)

• Greatland Gold executed full forms docs for $100m syndicated debt facilities with ANZ, HSBC and ING plus 100koz of gold put options at an average gold price of ~$3,888/oz (GGP.LSE) Debt previously flagged in Telfer/balance of Havieron acquisition announcement in Sep ‘24

• Group 6 Metals will recapitalise its business, whilst making numerous management changes, with senior lenders, subordinate lenders & certain unsecured creditors post-recap expected to own 97% of the business (G6M)

• Aurumin raised $2.2m via a private placement (AUN)

• Larvotto is raising $20m at 52c (AFR)

• Euro Manganese announced an amendment to the US$100m Orion funding package, with interest repayment deferred & milestones dates pushed (EMN)

• Globe M&M signed a term sheet for a US$10m convertible loan (GBE)

• We’ll take a few more hours to collect our thoughts following last nights xmas bash… we’ll see if any goss stuck come tomorrow!

• Interview with Harris Kupperman of Prateorian Capital: How to scale a hedge fund (Monetary Matters)

• Former Centamin chief Martin Horgan reflects on Sukari turnaround (MiningNews)

• Strictly Boardroom: what’s wrong with gold miners? (MiningNews)

• 10 reasons why the crisis facing Gautam Adani, Asia's second richest man, may not be over yet (Livewire)

• MacCap tips investment banking’s ‘winter’ is over (AFR’s Chanticleer)

• Why Europe’s Vaunted Car Industry Is in Crisis, in Charts (WSJ)

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