• Miners looking to develop new projects in the Pilbara will get faster approval decisions with a traffic light system built into a new regional environmental plan, the first for WA (West)

• Unions are finding the Pilbara iron-ore fortress hard to crack, with AMWU alleging BHP has intentionally hindered and obstructed its efforts (AFR)

• Wesfarmers’ $2.6B Covalent Lithium partnership with SQM has produced its first value-added lithium hydroxide, targeting nameplate by the end of 2026 (West)

• Australia’s clean energy rollout has suffered a second straight quarterly slowdown, with investment in new, large-scale wind, solar and storage projects lagging well behind the pace needed to meet the 2030 target (Australian)

• Nickel has eclipsed coal as Indonesia’s biggest export earner for the first time, according to Macquarie (Bloomberg)

• International Resources Holding from Abu Dhabi has emerged as a potential buyer for EMR’s Kestrel coal mine, while Yancoal pushes for exclusive talks (Australian)

• Mantle Minerals has settled the sale of Mt Roe to Northern Star, receiving $13.5m (MTL)

• EQ Resources completed a US$7.5m royalty with Oaktree, while offtake customer Cronimet has converted US$3m of its initial prepayment to equity (EQR)

• Snowline Gold announced a C$80m bought deal financing at C$9.00/sh (SGD.V)

• Brazil Potash is in talks with banks & other lenders to secure between US$1.7-1.8B in debt to build a potash mine in Brazil's Amazonas state (Reuters)

• Falcon has raised $20m, leaving it with ~$28m to accelerate exploration at Blue Moon (FAL)

• Hercules Metals closed its C$17m financing (BIG.V)

• GR Silver raised C$13.8m to go towards its Plomosas silver project in Mexico (GRSL.V)

• EQ Resources will grant Oaktree a 2.5% royalty on gross tungsten concentrate proceeds from from its Barruecopardo project in Spain (EQR)

🚨Giveaway – Excel Modelling Course for Mining

For the next week, the top 3 subscribers who refer the most new readers to the Director’s Special will each win free entry to Model Answer’s two-day Excel Modelling course (valued at $950!)

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• Word on the decline is Artemis Gold has its head down on deal-related workstreams right now…

• The C$6.5B gold miner would be close to the largest miner on the venture exchange, and ramping up its Blackwater mine in BC

• New CEO Dale Andres previously led Gatos Silver to a strategic exit

• If you believe Artemis’ study numbers that Blackwater can average ~530koz gold production in years 3-6, then its current valuation ~0.7x NAV is an opportunity for the larger miners trading at ~1.0x NAV

• What I witnessed at the battle of Orgreave (FT) A reflection on the 1984 strike that changed the British coal industry forever

• Robert Mullin on Market Huddle - Interview with resource fundie

• Equinox Gold Options Bet Nets Quick 170% Gain on Earnings Beat (Bloomberg)

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