Nic Pollock

Sam Catalano this is a great article and the graphs speak for themselves. I fully agree that there is a reticence amongst the majors for investing in greenfields projects because of them all being ostracised only a few years ago for doing this. Almost all diversified CEOs stepped down at that time because of this high capex expenditure. As I recall at the time only Ivan Glasenberg was outspoken about capital discipline and was almost ridiculed at some of the larger mining conferences. I also believe that engineering companies (EPCM) have jumped on the bandwagon and have substantially pushed up capital costs per tonne of installed infrastructure by over the top design and engineering. There are still companies like FQM who do use some engineering consultants but have built up a fantastic construction team who handle most of the traditional EPCM costs that engineering companies have and pull from their own experience to keep costs tight and timelines on track. When I was involved in my first copper projects the greenfields guidelines for installed capital was around $10,000/t and with a strong team at Glencore we built Mutanda for $7500/t. Now $20,000/t seems to be acceptable and $15,000/t is considered world class. This step change is preventing large projects from starting and as long as the big engineering houses are costing the miners a fortune this is unlikely to change. The other point is that there are too many mining companies who lack experienced teams and rely on consultants after consultants to “help” them get to a solution. I have seen this time and again where consultants are being employed to check other consultants work and then contingency and “fat” is added blowing the economics out of the water. Sadly the practical, solid mine builders are few and far between and consultants (often inexperienced with practical pedigree other than a text book and letters after their name) are being used to build these projects. Unless something changes quickly one of these large projects will be built economically and in 5 years the world will still bemoan the lack of new supply in copper.

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We have been given an opportunity in Queensland to develop and test a business case methodology that integrates economic, environmental and social value to compare the cumulative value of different land use options following mining. We’ll do this iteratively with the input of experts in these disciplines. Some key global resources NGOs and companies are watching with interest. #mining #mets #regionaldevelopment #postmininglanduse

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Earlier in the week I presented at the AMEC (Association of Mining and Exploration Companies) investor afternoon. You won't find the full version of the presentation on the #ASX platform given there are restrictions on any material that may be viewed as political (ASX Guidance Note 14). A few of my statements on the WA #Uranium Policy and the potential drivers for change would fit that definition! Hence, posting it here! Please feel free to reach out; and share the presentation widely! #auspol, Cauldron Energy Limited

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BHP, the world’s biggest miner, and Canada’s Lundin have agreed to acquire South American copper miner Filo in a $3bn deal, in the latest sign of consolidation in the global mining sector. BHP has been on the hunt for copper assets after it walked away from a £39bn offer for Anglo American in May. That takeover attempt was primarily driven by the Australian company’s desire to acquire the London-listed miner’s copper assets in South America as the metal’s price boomed. The Filo deal means BHP and Lundin will take full control of the Filo del Sol prospect, which straddles the Argentine and Chilean border near the copper-rich Atacama Desert.  #copper #drilling #discoveries #Chile #greatplacetowork #chileanos #greatpeople Culpeo Minerals $CPO Max Tuesley Sergio Uribe Valdés Ruben Angel Cahuana Ari William Henry Quispe Garcia Paul Schmiede Susan Kerr Rob Hallam Jesse D'Sylva George BouAntoun Kaiden Gilbert

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Focused and intensive progress towards providing a secure antimony source to the world.

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FOR SALE – 4 AUSTRALIAN GOLD / COPPER PROJECTS This week we feature four gold / copper projects located in the Northern Territory of Australia. They are available for sale individually or as a package. Other properties, covering a variety of metals are available from the same vendor. The first project comprises granted mining tenements with an existing resource of 240,000 t @ 5.3% Cu, 120 g/t Ag and 0.5 g/t Au, with potential to add to this resource. Project two is an early stage, greenfields exploration play, with work to-date defining a gabbro with dimensions of 5.0 km x 1.5 km. Geochem indicates elevated levels of Cu, Co and Ni, and assays of some early exploration holes indicate the presence of gold. The next two projects are both brownfields exploration plays.   Project three is a new discovery adjacent to a 1 Mt Sn & Cu deposit. Gold assays of up to 21.6 g/t and 1.37% Sn have been noted. The final project is also a new gold discovery with 12 g/t Au returned from surface grab samples, with geological potential for a large system. If any of these projects are of interest, please DM me or email me directly at [email protected] These are just four of the 24 gold projects that we currently have on the books, with another 35 projects covering all the sought after commodities and a number of countries. If you would be interested in finding out more about the other projects that we have available, or have specific commodity and location requirements, then please use the contact details above

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The new chief executive, who served as Freeport’s chief financial officer for almost two decades, said copper’s recent rally to an all-time high above $11,000 per tonne on fears about supply was just the start of a “new era”, adding that there will be a “very tight market for the foreseeable future”. Instead of M&A, Freeport is banking on expanding a new leaching technology, which is already generating about 90,000 tonnes annually of extra output, to boost output by up to about 360,000 tonnes within five years — equivalent to a large copper mine. A number of smaller miners, such as Canada’s Lundin Mining and First Quantum, could become targets for the bigger groups in merger activity. Christopher LaFemina, analyst at Jefferies, said that Freeport combining with another Canadian miner, Teck Resources, would make “strategic sense” if the company pursues more aggressive growth under Quirk. “We would not be surprised if Freeport eventually pivots more to a focus on growth, including via M&A, as value-accretive opportunities will probably emerge,” he said. Culpeo Minerals $CPO #drilling #discoveries #mines #copperstocks Max Tuesley Sergio Uribe Valdés Yerko Lopez Bugueño Ruben Angel Cahuana Ari Paul Schmiede William Henry Quispe Garcia Susan Kerr

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***DON'T SHOOT THE MESSENGER*** Analyst David Llewellyn-Smith outlines the sobering news for Australia and iron ore prices over the next few years. "The price will need to fall to $50-60 for an extended period....but there is every chance that cyclical waves and weaknesses will trigger wild volatility so the price will fall well below this level at times." Western Australia is the biggest loser in all of this. The time is now for the WA government to pre-emptively act to protect the economy; remove the #uranium ban and diversify revenue and protect jobs! https://lnkd.in/grQngTEw

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Cutting Red Tape: #MiningLeaders at International Mining and Resources Conference (IMARC) Call for Faster Approvals and #Investment to Power #Australia’s Future | via #prospectornews #mining #investing #investors #juniormining #preciousmetals #commodities

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Who else will be Sydney side next week? I'd love to see you! #IMARC #Mining #Resources #MiningIndustry #MiningTechnology International Mining and Resources Conference (IMARC)

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Strong Deloitte report, which highlights well two of the main problems: 1) China controls the supply chain thanks to its formidable processing technology and capacity, as well as its ability to bring in a supply response that weakens critical mineral miners. 2) ESG credentials aren't reflected in prices, it is up the regulators to ensure virtuous producers don't lose out to dirty ones, without killing end-demand, as buyers (including most OEMs) are price-driven and too often paying lip service to ESG. Producers are often ill-equipped to navigate this complex environment... CRB Resources

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Who's new on the ASX? Subscribe to Samso Insights on Patreon to get timely updates on companies to put on your radar. Ordell Minerals Limited (ASX: ORD) made its debut on the ASX last Friday, showcasing a robust portfolio of exploration assets in Western Australia. With the second day of trading closed, Ordell’s shares peaked at A$0.22, with nearly 1.7 million shares traded to date. Read more here: https://hubs.ly/Q02J69vS0 #Samso #Investments #CoffeeWithSamso #RoosterTalk #SamsoInsights #OrdellMineralsLtd #ASX #Investments #MineralExploration #Barimaia #GenesisMinerals

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🌟 Positive Shift in Mining Perception – A New Era of Trust? 🌟 A recent CSIRO survey reveals a long-awaited improvement in public trust toward mining—a change we haven’t seen in decades. This shift could mark the start of a new trend, creating a stronger foundation for mining projects and setting the stage for broader engagement and support from communities, regulators, and investors. At Digbee, we believe this trust, if sustained, has the potential to re-invite generalist investors to the sector, which could positively impact valuations and drive more responsible growth. With a growing emphasis on ESG and sustainable practices, mining companies now have an unprecedented opportunity to demonstrate transparency, accountability, and innovation. As we navigate this pivotal moment, the mining industry can solidify a trust-based relationship with all stakeholders, laying the groundwork for a more prosperous and responsible future. #MiningIndustry #Trust #Sustainability #ESG #ResponsibleMining #InvestorRelations #Digbee https://lnkd.in/e4WVG3xG

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$PRS - Prospech Limited (ASX: PRS) (FSE: 1P80) is pleased to announce further assay results from the ongoing program of sampling and assaying of the historic Korsnäs drill core from holes completed in the 1950s, 60s and early 70s. A total of 307 samples from 25 holes are reported. Prospech Managing Director, Jason Beckton, commented: "Korsnäs keeps delivering standout results, with recent recognition of high grade zones rich in critical Heavy Rare Earth Elements (HREEs) like dysprosium (Dy) and terbium (Tb). While Korsnäs is primarily a carbonatite-associated deposit known for valuable magnet REEs such as neodymium (Nd) and praseodymium (Pr), the presence of significant Dy and Tb mineralisation is a major advantage. These heavy REEs are crucial for producing high strength magnets which hold up under high temperatures and perform reliably in demanding applications like electric vehicles, wind turbines and high-efficiency motors. With current supply disruptions in China, securing a stable source of these materials is more important than ever. Prospech is looking to meet this need, positioning itself as a dependable future supplier of magnet critical HREEs. Our commitment to thoroughly assessing these enriched zones at Korsnäs reflects our confidence in the project’s potential and our determination to support the growing global demand for sustainable energy technologies. By developing Korsnäs as a secure supply source, we are not just meeting immediate industry needs; we’re playing a key role in strengthening the resilience of global rare earth supply chains for the long term." Read more: https://lnkd.in/gdcqxkN5

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Rio Tinto Group is studying proposals for potential bids for companies including Teck Resources Ltd., Sky News reported, citing people it didn’t identify. The mining giant has drawn up a list of possible targets in the wake of BHP Group’s failed bid for Anglo American Plc, and has held talks with bankers, Sky said. It’s unclear whether Rio will choose to make a move on Teck, it said, also citing a person close to the company who said no offer was imminent.  Many in the industry expect a fresh wave of acquisitions following BHP’s bid, but mega deals between the biggest firms are likely to attract stiff regulatory scrutiny, particularly as Western governments sharpen their focus on supply chains for critical minerals such as copper. Last week, Canada said it would only approve foreign takeovers of its largest miners in “exceptional” circumstances. Culpeo Minerals $CPO #copper #drilling #discoveries #mining #Chile

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BHP's recently published #Copper Insights is being pretty widely shared... One of the interesting takeaways for me dampens out the criticism that bullish copper demand is overly reliant on "optimistic" new world demand growth from the likes of energy transition and AI. The main driver in BHPs view...?? Good ol' fashioned economic growth! The sad reality is that an almost-unbelievably (and embarrassingly) small proportion of the planet's population enjoy a copper intensive society which provides them the 'creature comforts' (AKA near-human rights to you and I) that we enjoy - basics like washing machines, air conditioners, fridges, or even just power in the home connected to a stable grid. China currently has half the copper intensity of a developed economy. India uses just 1/5th the electricity per person than China. .... You think the status quo continues...? You better believe almost the entire global population aspires to live 'like we do' - why wouldn't they!? That is a seismic force for copper (and other base metals) which BHP certainly isn't betting against. The whole report is a surprisingly easy read - it gets really interesting when they analyse mine supply. You don't just stub your toe on an advanced copper project these days, so it seems. Discoveries like Pivotal Metals Ltd (ASX:PVT) Horden Lake project form an important part of the future supply dynamic. https://lnkd.in/gfqq-_sh

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Nice little update from $APC today (where I am NED); this is the first update on the West #Arunta project; the hottest exploration post code in Australia at the moment. #niobium $RCR $WA1 @OzPotash $ENR BUT: read this sentence about the pending Geophys review: "The Company is planning to release the results of this initial review imminently and use it as the basis for future targeting work as it progresses its on-ground exploration programs." So another interesting project update to come soon!

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