The Pre-Start

  • BHP ($296B) - BHP flagged a ~US$2.3B Jansen impairment in H2 and expects net debt ~US$9B, as FY26 delivered record 265Mt iron ore and ~2Mt copper with FY27 copper guidance 1,650–1,800kt

  • OBM ($2.1B) - Ora Banda produced 39.6koz gold, cash +$36m QoQ, and set FY27 guidance at 125-140koz at $3.4k-$3.6k/oz

  • BC8 ($663m) - Black Cat said Paulsens has repaid all invested capital, with drilling defining Lynx and Regulus lodes

  • A1M ($606m) - AIC Mines produced 3.1kt Cu and 1.7koz Au in the June quarter, closing with $41.7m cash | ▼ 12%

  • RXL ($556m) - Rox Resources hit 7m at 9.7 g/t gold from 94m at Commonwealth, with Youanmi Deeps drilling to start Q3

  • MEI ($523m) - Meteoric lifted reserves at Caldeira rare earth element ionic clay 42% to 146Mt at 3,546 ppm TREO, containing 517kt TREO

  • AUC ($457m) - Ausgold intersected 13.8m at 0.48 g/t gold from 481.5m, 300m down‑plunge of the open‑pit resource at Katanning Gold project, WA

  • BCN ($335m) - Beacon set the in‑specie distribution at 0.309 Forrestania Resources share per share, distributing 36m FRS

  • ALR ($199m) - Altair Minerals outlined a fully funded 75,000m, 18‑month drill program at the Greater Oko project in Guyana

  • TLG ($125m) - Talga signed a non‑binding LOI with Dainen for Talnode‑C from Vittangi Anode project, targeting a binding deal by Dec 2026

  • MSV ($113m) - Mitchell Services extended its on-market buy-back for up to 21.2m shares (10%) to Jul 2027

  • GHM ($110m) - Golden Horse reported 8m at 16.3 g/t gold from 209m at Greenmount within the Southern Cross Gold project, WA

  • AEE ($107m) - Aura Energy said Sweden enacted changes removing municipal consent and nuclear-facility status for uranium mining

  • OSM ($95m) - Osmond Resources expanded the MRE target at Orin EU Critical Minerals by 4.1km² after 2.7m at 10.75% TiO₂ from 209.7m; scoping study targeted Q3 CY26

  • LM8 ($67m) - Lunnon Metals delivered 62kt at 1.7 g/t gold (3.5koz) in June from the Lady Herial open pit, receiving $12m from Gold Fields versus $3m costs; two months remain

  • ODY ($42m) - Odyssey Gold's first-pass drilling at Shackle hit 3m at 16.1 g/t gold from 55m; Bollard holes confirmed continuity

  • COB ($40m) - Cobalt Blue retained 51% of Halls Creek and exercised to earn 75% via $1.5m spend by Jun 2028

High Grade It

  • Traders brace for $US100 oil as world races towards supply shock (AFR)

  • Cameco restarts Cigar Lake after resolving mill issues (Mining.com)

  • Mining services companies soar after near-death experiences (AFR)

  • Congo Ebola outbreak disrupts US-backed critical minerals talks (Mining.com)

  • Labor govt declines to intervene in BHP strike (West)

  • Rio Tinto takes $180m diesel slug as iron ore exports bounce back (AFR)

  • Codelco delays Maricunga lithium project start by 4 years to 2034 (Mining.com)

  • Ghana approves revised mining law to streamline licensing process (Reuters)

  • China-backed copper mine in Pakistan faces shutdown due to worsening Balochistan violence (FT)

  • BHP reports 3% drop in iron ore and 5% drop in copper output for June quarter (Bloomberg)

Wheelin’ n Dealin’

  • IGO ($5.1B) - IGO will sell Nova to Global Lithium for $7m

  • GL1 ($123m) - Global Lithium will acquire Nova to repurpose for Manna Lithium project, targeting mid-2027 production

  • Global Lithium acquires in IGO deal to process Manna ore (West)

  • First Quantum considers selling minority stake in Taca Taca copper project; Rio among potential bidders (Mining.com)

  • Wall St bankers shift seats to cash in on Australian deal trends (Australian) Resources in focus

  • IGO ($5.1B) - IGO will sell the Nova nickel operation to Global Lithium Resources for $7m, subject to ACCC approval

Rattlin’ the Tin

  • KZR ($44m) - Kalamazoo Resources entered a trading halt pending a capital raise

Word on the Decline

  • Add MPK to the mix, and we’re cooking

Got Word on the Decline? Reply or email [email protected]. We will always take your privacy seriously.

Ownership & Oversight

  • CIA ($2.2B) - Champion Iron named Steve Boucratie CLSO and Michael Marcotte CFO

  • IPX ($1.3B) - IperionX's Tripeny bought US$100k of ADSs; Beverly M. Wyse exercised 106k options at $0.87

  • TOR ($137m) - Torque director Simon Lawson bought $483k of shares

  • ARU ($1.4B) - Bianca Hope Rinehart bought $51m of Arafura Rare Earths shares via off-market issue at $0.26, lifting her stake to 17.5%

  • EQR ($1.3B) - EQ Resources appointed Mark Lindsay as GM Growth & Discovery

In the Weeds

  • Andy Home explores the global race to build metals smelters in developing countries (Reuters)

  • China's export controls on rare earths fuel resource nationalism and market distortions (FT)

  • China Has Too Few EV Plants, Not Too Many (Bloomberg oped)

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