Copper Squeezes Up as New World Bidding Pops

MinRes deny mining services sell-down rumours while the Pilbara ships record tonnes

June 27, 2025

The Pre-Start

  • Boss Energy reported that Alta Mesa had achieved higher extraction rates on its ramp-up to 1.5Mlbpa, capturing more than 3klb per day over the past week (BOE)

  • Larvotto received formal approval from the NSW DPHI, allowing mining and processing at Hillgrove (LRV)

  • Celsius has commenced on-site engineering this week for the company’s MCB project following first draw down of MIC funds earlier this month (CLA)

  • Franklin has become a 5.3% shareholder in Meeka (MEK)

High Grade It

  • The country’s largest miners shipped a record volume of iron ore through Port Hedland in May despite aggressive cuts to steel manufacturing in China (AFR)

  • Copper extended gains for a 5th day, after Goldman said it expected prices to rise to a 2025 peak of around $10,050/t in August (Bloomberg)

  • Mali is set to restart production at Barrick’s Loulo‑Gounkoto gold mine (Mining.com)

  • US prices jump more than 3%, opening up massive $1,600/t gap between US and LME copper (Mining.com)

  • Canada approves law to fast-track resource projects, faces Indigenous opposition (Reuters) speeds up approval of “national interest” projects

  • Treasurer Jim Chalmers is suing an alleged China-linked investor in ASX-listed Northern Minerals for defying a Commonwealth order to sell its stock (AFR)

  • A halt to trading in Bowen Coking’s shares will continue while it attempts to secure ongoing finance as depressed coal prices (Australian)

  • US says deal with Beijing will expedite rare earth exports from China (Reuters)

  • Driver distraction has emerged as a potential factor in the road train rollovers besetting MinRes since its problematic private haul road opened (Australian)

  • Ivanhoe to overhaul mining at Kakula (Miningmx) “We are now…leaving much larger pillars.”

There’s only one place to be on Sunday night, right before Diggers. And it’s at the Topdrill Sundowner. Register now, tickets are limited!

Wheelin’ n Dealin’

  • The “crown jewel” of MinRes (mining services) is not for sale, according to the man that oversees the division, because keeping it could help the company’s flagship mine turn a decent profit even if iron ore crashes below US$60/t (West)

  • MP Materials merger off the cards according to Lynas boss Amanda Lacaze, but still looking offshore (MNN) “We don't have to do everything in Australia”

  • Key players within Coronado are believed to be in talks with an Indonesian mining group about a sale of assets or the business, according to Dataroom (Australian)

  • Blackstone Minerals completed its merger with IDM, acquiring the Mankayan Copper-Gold project, with several board changes (BSX)

  • The Rack Attack in Arizona is on: hours after Kinterra lodged its bidders statement for New World at 5.7cps, CAML reveals a 6.2cps uplift themselves after buying 7.2% of the stock at the same price! (CAML, NWC) this one has all the hallmarks of someone paying a stupid price. We aren’t underestimating the buying motivation of a freshly raised PE fund to deploy...

“Rack Attack” you say? …it’s an Antler thing

Rattlin’ the Tin

  • Champion Iron upsized its debt offering, raising US$500m in notes due in 2032, paying 7.875% (CIA)

Word on the Decline

  • Short interest data for ASX stocks is provided with a lag of 4 trading days

  • And we think the next few days will reveal MinRes’ short interest decline by ~5%…

Do you have some Word on the Decline? Reply to this email or shoot a message to [email protected] directly. We will always take your privacy seriously.

In the Weeds

  • "The gold bull market has only just entered the second half" - Ronnie Stöferle

  • Driverless mining trucks begin operating in China (South China MP) Expecting to see 10k autonomous mining trucks across China by 2026…

  • MinRes spruiks its $3.5B Onslow project, “Club Med of the Pilbara” (AFR) + Only MinRes would spend $140m on a mine camp with 18-hole mini golf (Australian)

  • The race for better batteries could charge up an unloved metal (FT) Vanadium getting some rare love

Were you forwarded this email from someone else?

Today’s Top Tweet

Devil’s in the Detail

Phenomenal. John Deniz, how about a podcast?

Catch up on our latest episode

🟢Spotify | 🟣 Apple Podcasts | 🟥 Youtube

Paladin’s CEO Exit: Cause for Concern?

All information in this newsletter is for education and entertainment purposes only and is of general nature only. The Money of Mine team are not financial professionals. Money of Mine are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional, along with considering any relevant Product Disclosure Statement. Money of Mine does not operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. Money of Mine strives to ensure the accuracy and currency of the information contained in this newsletter but we do not make any representation or warranty that it is accurate, reliable or up to date. Any views expressed by the hosts of Money of Mine are their opinion only and may contain forward looking statements that may not eventuate. Money of Mine will not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of information in this newsletter. Information relating to our Privacy Policy is available online here.

Reply

or to participate.