Digging discoveries

From new discoveries and mine developments to strategic deals and the race for critical minerals, Australia's resources sector is moving fast.

BHP (ASX:BHP) just reported that, for the first time in its history, copper earned more than iron ore. Evolution Mining (ASX:EVN) posted a record profit while digging up less gold than the year before. Viridis Mining and Minerals (ASX:VMM) lined up funding for a rare earth project in Brazil, backed by government agencies from four countries including Australia. Three companies, three metals, one shift: what Australia digs, and who pays for it, is changing. 

Rare earth and selected base metals are fuelling our digital future, even for the miners themselves. Iron ore miner Fortescue Metals Group (ASX:FMG) said this week, "AI has the potential to change almost every aspect of how we operate."

For forward-looking investors, the smart money is already digging deeper.

To your investing,

KGL Resources moves closer to building a copper mine in the Northern Territory

KGL Resources (ASX:KGL) has moved its high-grade Jervois Copper-Silver-Gold Project into the execution phase, with the project now fully funded through construction and into production. Development is underway, including equipment procurement, drilling and mine infrastructure, as KGL targets a final investment decision and construction commencement in the third quarter of this year. Watch the TSN interview with Sam Strohmayr

👆 Gold has been climbing. It hit a record price in January, then plummeted, and rebounded sharply this month. The latest move was underpinned by the US Treasury buying back its own bonds, a weakening greenback and rising US government debt.

👆 Copper had a wild run, up sharply over the last year and hitting fresh records this month. It's being driven by demand as much as supply. AI data centres and power grids need enormous amounts of copper, while ore grades at existing mines keep falling and new ones take decades to build.

👉 Oil eased after Iran signalled it wants the war to end, though prices still remain elevated. Ship movements through the The Strait of Hormuz are a long way from normal, and the US energy agency doesn't expect Middle East production to return to near pre-war levels until early 2027. All eyes are now on OPEC, which meets in September.

👇 Iron ore is down for the year, but it's been a bumpy ride. The price peaked in May before sliding through June and July and flatlining since. The odd part is China's buying more iron ore while making less steel. Closer to home, BHP is now officially making more money from copper.

Kincora Copper (ASX/TSXV:KCC) - Multiple pathways to gold-copper discovery

KCC President and CEO Sam Spring discusses drilling, AI targets, new partnerships and hybrid project generator approach, focused on the Central-West of New South Wales.

49 Metals (ASX:49M) - Thick gold hits unlock Gold Mountain’s scale in Nevada

49M CEO Phil Carter discusses its maiden drilling program, with every hole hitting gold and/or silver, strengthening the case for a large mineralised system that remains open in all directions.

New Hope Group (ASX:NHC) - Driving production growth across coal operations

NHC CEO Rob Bishop discusses the drivers behind New Hope's latest performance, the Australian coal producer’s operational strategy and the outlook for its key mining assets.

Fenix Resources (ASX:FEX) - Record year shipping iron ore

FEX Executive Chairman John Welborn discusses the record year shipping 4.4 million tonnes of iron ore, growing shipments, finishing the year with $81 million in cash and guiding to further growth in FY27.

Lux Copper (ASX:LUX) - New ASX IPO ramping up copper exploration

LUX CEO Dr James Warren discusses its flagship Baird Copper Project in Alaska, within the Ambler Mining District known for major copper discoveries, and what to expect as drilling gets underway.

Metals Australia (ASX:MLS) - Advancing base and precious metals projects

MLS CEO Paul Ferguson discusses its flagship Lac Carheil Graphite Project in Canada and opportunities across its portfolio providing exposure to graphite, gold, silver, base metals and titanium-vanadium-iron.

Chariot Resources (ASX:CC9) - Nigerian lithium

CC9 Executive Chair and Managing Director Shanthar Pathmanathan discusses inking a term sheet for a proposed partner-funded drilling, trial mining and DSO offtake program across a Nigerian lithium project.

Tennant Minerals (ASX:TMS) - Copper-gold-bismuth in the Northern Territory

TMS General Manager Chris Ramsay discusses the pathway from exploration success towards a potential development and production decision at its Bluebird high-grade copper-gold-bismuth discovery.

Impact Minerals (ASX:IPT) - Lake Hope HPA advances as exploration delivers new discovery

IPT Managing Director Dr Mike Jones discusses its Lake Hope High Purity Alumina (HPA) Project and Commonwealth–Silica Hill Gold-Silver Project, including a new discovery at Silica Hill.

Meeka Metals (ASX:MEK) - Identifies visible gold

MEK intersects visible gold approximately 300 metres below its existing Turnberry Underground Reserve, highlighting a deeper gold system that is now the target of an accelerated exploration program.

Titan Minerals (ASX:TTM) - Identifies new gold-silver mineralisation zone

TTM identifies a new shear-hosted gold-silver mineralisation zone at its 100%-owned Dynasty Gold Project in Ecuador, with drilling returning a high-grade intercept outside the project’s current mineral resource.

Far East Gold (ASX:FEG) - Completes independent scoping study

FEG completes an independent Scoping Study for its Idenburg Gold Project in Papua, Indonesia, establishing the development pathway.

Powerhaus Uranium (ASX:POW) is a uranium exploration company targeting the discovery of regional-scale roll-front and calcrete-hosted uranium in Argentina, together with basement-hosted uranium in Canada.

WhiteRock Lithium Corp (ASX:WLC) is a critical minerals explorer and its current major focus is the development of its Banana Lithium Project, located in the Eeyou Istchee James Bay and Nunavik regions of Quebec, Canada.

Disclaimer

_{The material contained in this email is general in nature only and does not constitute personal financial or legal advice. None of our material should be regarded as advice and you should not rely on any of the content of this post without first obtaining specific professional advice.}

_{We give no warranty to the accuracy, reliability or completeness of information that is contained in this email and exclude liability for any loss.}

_{This email may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other author, agency, organisation, employer or company. We are not liable for any comment published by users and reserve the right to delete any comment for any reason whatsoever.}

_{We have commercial relationships with some of our contributors, and we may receive payment or other benefits from this email.}

_{Please see our full content disclaimer}