The Pre-Start
Ivanhoe officially opened its Platreef PGM-Ni-Au-Cu mine in the Bushveld, with South Africa’s President cutting the ribbon (IVN.TO)
WA1's Luni Niobium project has been granted major project status by the Australian gov’t for three years, providing coordinated federal case management and recognising the project's national significance (WA1)
29Metals shared additional details on its Gossan Valley mining contract, with $253m to be paid over the 4-year term (29M)
BCI reported that Mardie has commenced operations, with the salt-first phase funded and on schedule, targeting first salt on ship Q4 CY26 (BCI)
Challenger executed a 24‑month mining contract with MAPAL, completed mobilisation, leaving mining on track to start 1 Dec (CEL)
Lindian commenced construction of the Tipume accommodation village at the Kangankunde, with the 90‑person camp scheduled for completion in Q1 26 (LIN)
New presentations were shared by St Barbara, Deep Yellow, WA1, Boss, Westgold, Polymetals, Red Hill, & Minerals 260
High Grade It
Protracted negotiations between China's state iron ore buyer and miner BHP have tightened availability of some iron ore, seven sources said, underpinning prices (Reuters)
MinRes has scrapped its previously signposted succession plan for Chris Ellison, replacing it with a process that has no formal handover date (MN)
Mining veteran Mick McMullen has thrown his name into the hat for the Barrick CEO role, labelling its problems as fixable (G&M)
Iron ore shipments from a major Australian export terminal rose to a record high for October, as Chinese demand proved resilient (Bloomberg)
Chinese rare earth magnet exports to the US hit a 9-month high as trade war worries ease (SCMP)
The state of China’s housing market has dented construction activity and weighed on metals demand, though sectors from new-energy to the grid have picked up some slack (Bloomberg)
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Wheelin’ n Dealin’
Rattlin’ the Tin
Talga has received $13m in grants from the Swedish Energy Agency (TLG)
VHM raised $10m via a placement at $0.35 per share (VHM)
Vizsla Silver announced the pricing of US$250m convertible senior notes, which’ll pay 5% pa while being convertible at US$5.84/share (VZLA.TO)
Anson raised $14m at 8c to advance the Green River lithium project (ASN)
Word on the Decline
Bankers are already sending in flyers for a new sale of Anglo’s QLD coal assets.
With plenty of uncertainty remaining regarding the timing of a Moranbah North reopening, we believe it’s likely that the process is being run without clarity on this, and with an alternative mining case.
Got Word on the Decline? Simply reply or email [email protected]. We will always take your privacy seriously.
In the Weeds
October Fund Performance (MrQuick) Another healthy month for some resource fundies
MinRes chairman tosses the Ellison grenade somewhere else (AFR Rear Window)
The Big Dangers of Big Bubbles with Big Wealth Gaps (Ray Dalio X)
Collins St nailed the gold call 3 years ago. Here's 10 stocks it likes right now (Livewire) Resources plays include CVN, ATR, & BC8
$4 trillion gone in 6 hours: US plunge shows how doubt turns into fear (AFR Chanticleer)
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Today’s Top Tweet
Chris Ellison: And “the savvy people out there who track our trans shippers. They know how many tonnes we’ve done before I wake up.”
Devil’s in the Detail
Despite the anticipation, Deep Yellow’s directors survived the AGM, with no special meeting called yet…
Catch our latest show
No Spin, Just Tin. Brett Smith on MetalsX and Every Tin Project
Stocks mentioned: MLX, MGX, ELT, 1SN.L, NC1, NST, TAM, A1M, MMA, TNC, FEX, AFM.V, CUSN.L, RMR.L, SRZ
New episode out at 5pm today