The US International Development Finance Corp. is in discussions to establish a US$5B fund to invest in mining as a JV with Orion (Bloomberg)

Australian energy stocks could be on the cusp of a multi-year rally as global demand for oil outstrips supply, say Morningstar & UBS (AFR), while the IEA said US$540B needs to be spent each year to maintain O&G output to 2050 (Bloomberg)

BHP will axe 750 jobs in its Queensland coal division in response to weak coal prices, saying the industry is at “crisis point” (Australian)

MinRes is on the hook for new security bonds totalling about $6m following a State Government probe into cleanup costs at the Yilgarn hub (West)

Barrick is focused on expanding gold and copper projects after shedding some legacy assets, with Bristow stating “we’re in a growth phase” (Bloomberg)

Anglo signed an agreement with Chile’s Codelco to jointly develop their adjacent mines near Santiago (Andina & Los Bronces) in a bid to boost production without major investments & unlock US$5B (Bloomberg)

Anglo and Teck haven’t done enough yet to show the advantages of their merger to the Canadian economy, said the country’s industry minister (Bloomberg), while Agnico said it isn’t considering buying Teck (Bloomberg)

iTech announced its commencement of farm-in and lithium JV with SQM at Reynolds Range, with payment of $2m to iTech for 30% interest in Li rights (ITM)

PT Merdeka Gold is planning to raise US$284m from what would be Indonesia’s largest IPO this year (Bloomberg)

Queens Road Capital has provided an additional US$20m funding for Moxico by way of a convertible debenture paying 11% coupon, taking QRC’s total to US$70m (QRC.TO) Moxico’s flagship asset is the Mimbula copper mine, producing ~36ktpa in Zambia

Highland Copper received a Letter of Interest from the U.S. EXIM bank for up to US$250m of debt financing for its Copperwood project (HI.V)

Orion signed a non-binding financing deal with Glencore for US$200-250m and offtake for Prieska concentrate, to be made available over 2 tranches (ORN)

West Red Lake upsized its bought deal offering to C$36m (WRLG.V)

We understand AngloGold Ashanti to now be a definite seller of their Australian portfolio. But Calderon is keen to replace the ounces first to maintain the major gold miner’s production profile and ‘Tier 1 jurisdiction’ weighting

Ronnie Stöferle: Gold Bull Market in Full Swing (YouTube) “Gold isn’t dirt cheap anymore, but not overvalued… expect silver to outperform”

Which mining stocks are trading “cheap” and “expensive” according to the implied spot price baked in the share price, according to Barrenjoey (Livewire)