Battle for Bankan is on

Trump's tariffs on hold (for now)

The Pre-Start

  • WA1 produced first ferroniobium from Luni, as part of the first conversion testwork completed on refined concentrate, further met testwork & studies ongoing (WA1)

  • Vulcan Energy started execution works on its integrated renewable energy & lithium project, mobilising its V20 drill rig to the first new production well site for Phase One (VUL)

  • Canyon Resources advised the location of its inland rail facility for its Minim Martap bauxite project was approved by the Cameroon gov’t (CAY)

  • Santana Minerals reported diamond drilling results from its Rise and Shine deposit, including 14m at 7.4g/t Au from 155m (SMI)

  • Kingsgate reported a production milestone at its Chatree gold mine with its 100th gold pour since the restart, while CFO Dan O’Connell ceased employment with the company effective 3 Feb (KCN)

  • Tanami Gold reported assay results from RC drilling at Jims gold mine (part of Central Tanami), including 3.8m at 268.3g/t Au from 317m (TAM)

  • VRX Silica is in trading halt pending an announcement on its environmental approvals process for Arrowsmith North (VRX)

  • Macquarie Group is now a ~5% holder of Karoon Energy (KAR)

High Grade It

  • Local downstream lithium producers soon to be prevented from parachuting in Chinese workers and hardware (West)

  • Trump pauses tariffs on Canada imports for 30 days after doing the same for Mexico, while the countries work together on a border plan (CNBC)

  • Tony Abbott wants Australia to push back on Trump’s “punitive” tariffs on allies (Capital Brief)

  • Hancock Prospecting weighs in on Liberal Party donations, in search of a government “more attuned to Australians” (BN)

  • BP puts its $600m Perth clean fuel refinery plans on ice (AFR)

  • EPA clears Northern Star to expand Super Pit under strict noise and dust rules (West)

  • South Africa’s Harmony Gold said it expects to exceed its 1.5Moz production target despite lower output in H1 (Reuters)

  • US aluminum industry urges Trump to exempt Canada from tariffs (Mining.com)

  • Trump says 25% tariffs on Mexico and Canada may not include oil: ‘Oil is going to have nothing to do with it as far as I’m concerned’ (CNBC)

  • Low-impact miners & explorers will be eligible for fast-tracked approvals under reforms hailed by the resources industry as “paper killing legislation” (BN)

  • Brussels vows “firm” response to threatened Trump tariffs as EU braces for trade war (Politico)

  • Holohan departure creates uncertainty at Resolute as shares drop further (MNN)

  • US oil gains outpace global benchmark on Trump tariff threats (Bloomberg)

  • Westgold shares hammered as the gold miner forecasts lower production an higher costs (West)

  • De Beers agrees on fresh diamond sales agreement and extended mining licences with Botswana (Reuters)

  • India scraps custom duties on waste and scrap of dozen critical minerals (Reuters)

Wheelin’ n Dealin’

  • Fortescue now holds a majority interest of 66.23% in Red Hawk as part of its recently announced off-market takeover (RHK) Shareholders will received an increased offer price of $1.20/sh if FMG obtains a relevant interest of 75% or more by 7pm (AEDT) tonight

  • Regis established a $300m revolving credit facility, following the repayment of their syndicated loan facility last month, to provide “additional flexibility & liquidity” (RRL)

  • Nippon, US Steel say Biden blocked merger amid ‘sham’ review (Bloomberg)

  • BCI Minerals draws down first cash for Mardie salt operation near Karratha (West)

Rattlin’ the Tin

  • Predictive Discovery announced a $69m strategic placement to the Lundin Family and Zijin, who will hold a 6.5% and 3.5% stake in the company prospectively (PDI) This adds a bit of spice to the battle for Bankan, with Perseus already on the PDI register as major shareholder

  • Street Talk reckons TSX-listed Orezone Gold Corp and Discovery Silver are considering IPOs on the ASX (AFR)

  • Savannah Goldfields is raising $14m to strengthen their balance sheet and fund the re-start of gold operations (SVG)

  • Viridis received firm commitments to raise $3.5m, to fund study, met & enviro workstreams on its Colossus project (VMM)

In the Weeds

  • Everyone’s rattled by the rise of DeepSeek - except Nvidia, which enabled it (WSJ)

  • Dryblower on IGO's lament: when it swapped gold for lithium (MNN)

  • Market panic may be best protection against Trump’s tariff war (AFR)

  • How two former employees are driving Mali's hardball talks with Barrick (Reuters)

  • US-China trade war: Trump 2.0's mild first salvo and China's muted response (MNN)

  • How What does Trump’s tariffs mean for commodity and energy sectors? (Reuters)

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