The Pre-Start
Capstone’s sulphide copper production has been impacted due to 2 ball mill electrical motor failures at Manoverde. Production hit by 3-4kt (CSC)
West African has moved to suspension pending an announcement regarding its dealings with the Burkina Faso govt (WAF)
Orezone confirmed it has not received any request from Burkina in respect of purchasing an equity ownership interest at Bomboré (ORE)
Canyon shared DFS numbers for the Minim Martap bauxite project, with an NPV6 of US$521m, IRR of 22%, C3 costs of US$49.5/t and total stage 1 capex of US$96m (total US$446m) (CAY)
Black Cat released drilling results from Paulsens, turning up numerous narrow high-grade hits (BC8) Up 5%
Drilling from Iltani intersected its highest grades to date at Orient, hitting 24m at 216g/t from 43m, including 1.46m at 494g/t (ILT) Up 10%
Dreanought shared Star of Mangaroon assays, with a headline hit of 7m at 46.7g/t from 27m, including 2m at 104g/t (DRE)
Black Canyon confirmed manganese mineralisation along 3km of strike at Wandanya, with 148 holes completed (BCA)
Odyssey Gold shared assays from RC drilling at Tuckanarra, with its best hit returning 7m at 8.3g/t from 83m (ODY)
Encounter shared assays from Green, where it intercepted 26m at 2.5% Nb2O5 from 51m amongst other results (ENR)
Legacy Minerals has engaged Ausenco to undertake a metallurgy study on its polymetallic 1.2Moz AuEq. Mt Carrington deposit (LGM)
High Grade It
Minister Chris Bowen insisted the gov’t will achieve its target of 82% renewables by 2030 but has conceded Labor has more work to do to win over regional communities (AFR)
A Sunday collision between two trucks marked the eighth incident on MinRes's billion-dollar haul road, jeopardising production targets (Australian)
Environment regulators say an Australian green iron industry using clean hydrogen isn’t yet feasible, approving fossil fuels for “green” steel production (AFR)
BHP has called on QLD communities to lobby their MPs over ‘unsustainable’ coal royalties that threaten regional jobs and investment (Australian)
Gold saw its best monthly performance since April, as U.S. inflation data reinforced expectations that the Fed could cut interest rates (Reuters)
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Wheelin’ n Dealin’
Fenix has secured the right to mine the 290Mt Weld Range iron ore project (56.8% Fe) from Sinosteel for $60m cash, a A$4-5/tonne production royalty and a 10-15% profit share commitment (FEX) call at 10am Perth time
RPMGlobal received a non-binding indicative proposal from Caterpillar Inc at A$5.00/sh and has entered an exclusivity arrangement (RUL) RPM Board intends to recommend the transaction
Minority shareholders in the collapsed garnet miner RDG are opposed to a takeover that would allow MinRes to absorb the failed group (AFR)
MAC shareholders voted in favour of the Harmony deal (MAC)
Sayona completed its merger with Piedmont (SYA)
Rattlin’ the Tin
Word on the Decline
A funny one for you today. Apparently, 17.5ML of water has been stolen from Mt Marion lithium operation. A tapped pipeline. You can’t make this stuff up.
It’s not all bad news for MinRes, they shipped a tidy 3.2Mt of iron ore in August
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In the Weeds
Gina Rinehart assists in News Corp’s climate flip-flopping (AFR’s Rear Window)
National Reconstruction Fund is failing its great promise (West op-ed)
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Devil’s in the Detail
Keen for a site visit to one of those underground pits…
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