• US stocks soared, as the S&P 500 ended 3.3% higher, while the tech-heavy Nasdaq closed up 4.3% and the dollar jumped 1.5% on the US-China deal (FT)

• Superannuation giant HESTA has dumped its remaining MinRes stake, stating the miner was “unable to make the changes we believe necessary to restore investor confidence” (AFR)

• MinRes is selling a land package that’s expected to reap somewhere between $100-150m as it teeters under a $5.4bn net debt pile (Australian)

• China’s weaponisation of rare earths in its trade war has “changed (the) psychology” of US supply security, according to MP Materials (Bloomberg)

• South32 has named Matthew Daley, an Anglo American exec with a strong background in copper, as its new chief executive to replace Graham Kerr (AFR)

• A Supreme Court judge ordered Clive Palmer’s Mineralogy and CITIC to have one last crack at mediation as they continue to fight over expansion delays (West)

• China’s Zijin has picked Citic Securities and Morgan Stanley for the Hong Kong IPO of its overseas gold business (Bloomberg)

• Gold prices plummeted by nearly 3% or US$100 as a temporary deal between the US & China saw equities jump (Mining.com)

• The TSX gold sector has been whacked down nearly 8% as US-China trade talks saw further unwinding of the 'haven' trade (MNN)

• Macquarie loosened its investment & lending policies for coking coal mines, citing limited alternatives for steelmaking and infrastructure development (AFR)

• Norway’s sovereign wealth fund said it’ll engage with Rio & South32 over environmental issues after its board of ethics advised selling its shares (CB)

• Pan American Silver will acquire MAG Silver for US$2.1B, paying a mix of cash totalling US$500m and 0.755 PAAS shares per MAG share. The price is a 27% premium to the 20-day VWAP, with MAG holders owning 14% of the combined co (PAAS.NY)

• Sprott Physical Uranium Trust raised US$25.6m to cover operating expenses (U-UN.TO)

• Cobalt Holdings has said it plans to list in London in June in an IPO that will see commodities trader Glencore take a 10% stake, in a US$230m raising (FT)

• Coronado has moved to refinance its debt with non-bank lenders after it flagged in April it’d breached its covenants (Australian)

• Wesfarmers’ Covalent JV revealed as the second entity to tap into lithium support package from WA taxpayers (West)

• The Metals Company announced a US$37m financing to advance its deep-sea mineral development (TMC.NAS)

• Aya Gold & Silver announced approval of a proposed US$25m secured credit facility from EBRD, for expansion of its Zgounder mine in Morocco (AYA.TO)

• We have heard a rumour that South32 is confidentially exploring a sale of Cannington… If true, it would be a bold final act for Graham Kerr in his last ~1yr at the helm of the miner…

• Uranium supply risks: means lights out over Paris (Livewire)

• Peabody weighs its legal options at Moranbah North (Coal Trader Substack) “The lead inspector advised that the safest course would be to remotely seal longwall 113 and fully inertise the goaf, citing persistent ignition risks.”

• Eurotrash (Roland Gotthard on LinkedIn) a thorough critique of EUR’s Tanbreez project and its recent study

• Dryblower: Coal-mine fires could lure BHP back to Anglo American (MNN)

• Riding the commodity price cycle (Livewire)

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