• The federal gov’t is close to finalising a taxpayer-funded lifeline for Nyrstar’s troubled smelters in Tasmania & SA after warnings from owner Trafigura (AFR)

• Iron ore fluctuated as Trump signalled he was open to more negotiations after threatening to impose higher tariffs (Bloomberg)

• BHP & Rio will be affected by new 50% tariffs on copper flagged by President Trump, who has ramped up his protectionist trade war (Australian) US copper futures ripped 13% up to $5.69/lb 

• WA homes & businesses are facing a jump in energy prices after a regulator proposed a more than 30% hike to tariffs on the state’s biggest gas pipeline (AFR)

• Whistleblowers say 7 tugs had to pull the fully loaded FMG Nicola to safety and prevent a grounding that could have blocked Australia’s most important shipping channel (Australian)

• Huayou Cobalt’s stock surged to a ~4-month high, after it projected record half-year earnings, driven by the ramp-up of its Indo nickel projects (Bloomberg)

• China Northern Rare Earth said its export orders for rare earth products have recovered to some extent in June (Reuters)

• China added to its official gold reserves for an 8^th straight month in June, as prices of the precious metal traded near a record high (Bloomberg)

• Pantera Lithium announced the sale of its Smackover Lithium project to EnergyX (previously attempted to buy Galan) for a headline A$40m. $6m to be paid in cash (over 18 months), $34m in EnergyX stock (PFE) Would we call this a solid $40m?

• Arizona Lithium has sold its Big Sandy lithium project and the Lithium Research Centre for $8m (AZL)

• Peak Rare Earths has sold its Teesside site in the UK to Sembcorp for A$7M (PEK)

• Capricorn has acquired the Claw Gold project from BPM, expanding its Mt Gibson tenure, by paying $1.5m ($900k in shares, $600k in cash) (CMM)

• Aura Minerals, with 5 operating precious metals mines in the America’s, is seeking to raise ~US$210m in an IPO on the TSX (ORA.TO)

• Silver Mountain finalised a US$10m prepayment facility to advance its Reliquias project (AGMR.TO)

• With the list of interested & active parties in the Bellevue dataroom whittling down, we’re curious how hard the “motivated buyers” will push for a deal

• If the “strategic review” process being run by UBS results in no buyer emerging, will we be on course for a further reduction in the guidance outlook?

• Tuesday showed improved performance at the mine, though the re-cut production numbers still weren’t achieved

• A golden year for Wall Street’s Australian stock picker (AFR) Long gold to the tune of $14.5B

• Dave Iben on Behind the Balance Sheet - Long commodities, value investing to reemerge

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