The Pre-Start

  • RIO ($265B) - Rio Tinto cut 2026 copper C1 cost guidance to US$0.30–0.50/lb as H1 CuEq output rose 3%

  • EVN ($24B) - Evolution Mining produced 180koz gold and closed cash $1.3B; Mt Rawdon pumped hydro not prioritised by Qld Government

  • AII ($6.1B) - Almonty extended its Sangdong tungsten offtake to 21 years and 4.4m MTU, taking revenue to US$490m/yr at current APT pricing

  • SX2 ($2.4B) - Southern Cross Gold hit 0.2m at 15.4 g/t gold from 322m

  • MAH ($2.0B) - Macmahon executed a $355m, 3-year underground contract at Minres’ Mt Marion lithium operation in WA, with a 1-year option

  • ORE ($1.6B) - Orezone produced 58.6koz gold in Q2 and reaffirmed 2026 guidance; Casa Berardi is temporarily suspended

  • LIN ($1.5B) - Lindian: ANSTO validated Kangankunde's flowsheet with 98% NdPr extraction and MREC certified non-radioactive, enabling SARECO

  • VUL ($1.4B) - Vulcan Energy received equity funds on first drawdown of its €2.2B financing for the Lionheart lithium and geothermal project

  • KCN ($1.3B) - Kingsgate restarted Chatree Plant 1 in SAG-only mode, taking throughput to >4Mtpa while Ball Mill 1 repairs continue | ▲ 13%

  • BRE ($1.1B) - Brazilian Rare Earths will release Rocha da Rocha/Camaari scoping study and MRE in August

  • CXO ($809m) - Core Lithium ended the quarter with $182m cash, first concentrate in December

  • 29M ($429m) - 29Metals produced 4.8kt Cu and 3.1kt Zn at Golden Grove in the June quarter, cash $188m (-$35m QoQ), guidance maintained

  • BTR ($368m) - Brightstar updated the Sandstone gold project MRE to 69.3Mt at 1.3 g/t gold for 2.9Moz, with 1.1Moz indicated

  • MM8 ($347m) - Medallion will start gold production at the Forrestania Gold project in Q4 CY2026, with 200kt tolling at $100/dmt and $2.1m capex

  • CTM ($258m) - Centaurus secured approval to connect the Jaguar Nickel Sulphide project to Brazil's 230kV grid with a 20MW allocation

  • AEM ($256m) - Advanced Energy Minerals will be the exclusive supplier of nano HPA to ZFS for zirconia‑alumina ceramics

  • STK ($250m) - Strickland Metals updated the inferred MRE at Copper Canyon to 16Mt at 1.6 g/t AuEq for 0.8Moz AuEq, taking the Rogozna Gold and Base Metals total to 9.3Moz AuEq

  • AAR ($216m) - Astral Resources engaged GR Engineering to complete the Mandilla gold DFS with a target-cost model

  • MMA ($135m) - Maronan Metals reported 7.3m at 11% Pb and 89 g/t Ag from 345.7m, 120m from its permitted exploration decline | ▲ 6%

  • G50 ($111m) - G50's oxide-zone metallurgy at Golconda, Arizona, upgraded gallium 1.5–2x by desliming with 63–87% gold/silver concentrates | ▲ 8%

  • SHN ($101m) - Sunshine Metals lifted Liontown MRE to 7.27Mt at 3.19 g/t AuEq for 745koz AuEq; Mining Study update due Aug 2026

  • EPM ($49m) - Eclipse Metals reported a maiden inferred MRE at Ivigtt: 4.9Mt at 188 ppm HfO₂, with Ga, Y and Zr credits

  • KZR ($42m) - Kalamazoo completed infill drilling at Mt Olympus, WA, returning 31m at 5.2 g/t gold from 49m, supporting inferred-to-indicated conversion

  • AGR ($42m) - Aguia Resources began Pampafos sales post-commissioning, securing $2.3m in orders, including $1.6m with three distributors; first deliveries completed | ▲ 11%

  • AGC ($36m) - Australian Gold and Copper hit 26m at 102 g/t AgEq from 433m at Achilles, extending mineralisation to 540m down dip

  • FUN ($33m) - Fortuna Metals lodged a maiden inferred MRE for Mkanda of 298Mt at 0.87% rutile and 1.19% graphite (TGC) (0.7% cut-off)

High Grade It

  • Unions launch charm offensive with BBQ and face painting amid BHP iron ore strike at Port Hedland (Australian)

  • Chile's Economy and Mining Minister Daniel Mas convenes emergency talks with Codelco, Antofagasta, and Teck Resources over storm threats (Bloomberg)

  • Trump abandons Hormuz shipping fee plan after just one day (AFR)

  • Jumbo operator fined $30k for 'failures' that led to co-worker's arm amputation (MM)

  • Chalmers puts Chinese rare earths investors in a deep freeze (AFR)

  • Power production price to spike 50% in post-coal grid rebuild (Australian)

  • Steve Wyatt and Destec admit contempt of court in Mineral Resources IP dispute (BN)

  • Trafigura makes a record delivery of lead into LME warehouses (Bloomberg)

  • Congolese President halts aggressive tax raids on copper and cobalt miners to protect investor confidence (MiningMX)

  • Alcoa approves gallium plant at Wagerup refinery in WA with US, Japanese, and Australian backing (Mining.com)

A message from Costmine

Prefeasibility estimates are self-reported. WOODY's ranking isn't.

The WOODY interface showing Nifty Copper ranked against 60 copper assets on the cost curve, independently modeled without operator input.

WOODY ranks Nifty Copper against 60 assets without operator input. It sits at $7,810/t C1 on the cost curve.

Learn more about WOODY →

Wheelin’ n Dealin’

  • PDI ($3.5B) - Predictive Discovery will invest US$10m in Awale Resources for a 12.3% stake at C$0.85/share, with top-up and information rights

  • GL1 ($128m) - Global Lithium Resources in trading halt pending an acquisition announcement

  • FEG ($65m) - Far East Gold said independent expert LEA reaffirmed Xingye's $0.13 bid (conditional $0.15) is neither fair nor reasonable, valuing shares at $0.32–$0.44; holders of 22.8% say they will not accept | ▲ 7%

Rattlin’ the Tin

  • ALS.TO (C$3.7B) raised C$181.5m through a bought deal at C$60.50 to replenish its balance sheet after recent acquisitions and retain capacity for further deals

Word on the Decline

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Ownership & Oversight

  • RSG ($2.0B) - Helikon Investments bought $25.5m of Resolute Mining shares, lifting its stake to 17.2%

  • KAU ($118m) - Kaiser Reef director Bradley Valiukas bought $36k of shares, adding 200k to his holding

In the Weeds

  • Self-funded ASX explorers - Ficticious? (Strictly boardroom)

  • Genesis says $12.6b gold merger built for tough times (AFR)

  • Running on Empty - The Russian Endgame Is Here to Stay (Commodity Compass)

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