• Rio will take control of Ranger uranium mine clean-up as the Takeovers Panel stood by its decision to dismiss protests by two minority ERA shareholders (AFR) Investor Willy Packer said “wokeism at its worst” is at play (Australian)

• In a swipe at moves to rewrite national environmental laws, Rio called on the government to embrace ‘different perspectives’ & ‘practical thinking’ (Australian)

• China may raise US$846b via special government bonds to boost growth and relieve local government debt burden (Bloomberg)

• Lithium stocks are “one deal away” from going on a tear according to broker E&P (AFR)

• Rio Tinto bought back Argyle diamonds for the latest tender due to a dwindling stockpile (West)

• Iron ore fell to US$105/t as investors’ attention shifted from China’s plans for stimulus to quarterly numbers (Bloomberg)

• The EU & China face hurdles in clinching EV deal before tariffs start (Bloomberg)

• BHP agreed to help India clean up & decarbonise its steel sector so the country can meet its net zero target by 2070 (MiningNews)

• Rio is reviewing the “product strategy” for its WA iron ore division after it shipped higher-than-normal volumes of low-grade material last Q (AFR)

• WA tech jobs are on the chopping block as BHP works through global restructure (West)

• Japanese regional utility Chugoku Electric Power said its nuclear reactor will restart in early December, after 10 years offline (Bloomberg)

• Greatland Gold received FIRB approval for its Telfer-Havieron deal (MiningNews)

• Aeris advised ANZ agreed to extend the maturity of its facility to mid Nov while the company progresses its refinancing process (AIS)

• The court approved the scheme for Rex and MACH’s tie up, deal due to wrap up by end of month (RXM)

• Mayur Resources is in a trading halt regarding a strategic alliance arrangement (MRL)

• Dataroom reported UBS & Azure Capital have been hired to run EMR Capital’s sale process for Ravenswood, seeking $2b (Australian) It lists RRL, CMM, EVN & NST as prospective buyers

• The same article suggests EMR’s 52% interest in Kestrel coking coal is being sold by Macquarie and BofA (Dataroom) PT Adaro has pre-emptive rights

• Aurum Resources has made a takeover offer for Mako Gold, recommended by the Board (AUE)

• Rex Minerals reported its Scheme with MACH has become legally effective (RXM)

• Turaco Gold is in a trading halt to raise capital (TCG)

• ERA reported a resumption of its $880m entitlement offer (ERA)

• Galan’s entitlement offer of $13 million was fully subscribed (GLN)

• Other capital raises from mining hopefuls today include C29, Caravel, MTM, Trigg and Resource Base

• And a rare trading halt from a listed resource fund, Lowell, who appears to be conducting a placement of their own (LRT)

• If iron-ore prices continue to come under pressure, it’s interesting to think about what supply could come out of the market next. Commentators point to the high-cost iron ore hauled out of WA but a name we hadn’t floated in those conversations is Gina’s Atlas Iron.

• What do you think the unit costs are for Atlas’ ~9Mtpa iron ore production that is hauled to Utah Port and exported? ~US$100/tonne? Maybe it’s not as sticky as we should assume... At least the balance sheet isn’t a concern for Gina…

• Speaking of balance sheets, has anyone got a progress update on MinRes’ haul road? Isn’t that supposed to be completed this month?

• BDO’s quarterly ASX listed explorer update for Jun ‘24 saw gold companies top the podium for cap raises and cash balance growth (BDO)

• Can China’s latest stimulus measures fix its economy? (Bloomberg)

• Australia facing energy challenge and lagging in global LNG race (Australian op-ed)

• How Australia ships one million tons of iron ore daily! (Aaron Witt YouTube)

• VW, BMW & Mercedes are getting left in the dust by China’s EVs (Bloomberg)

• China Falls Into Its Own Trap (WSJ op-ed)

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