 The Drill DownTuesday 4 August 2026 |
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Presented By ASX: TM1 |
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| Building a world leading PGM asset – MST Access $1.05 valuationTerra Metals’ Dante Project hosts large-scale Bushveld-style copper-PGE sulfide reefs just 15km from BHP’s $1.7Bn Nebo-Babel development. With world-class polymetallic mineralisation from surface and strong metallurgical outcomes, Dante is rapidly emerging as Australia’s next major PGM system.Download Full Report |
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| Lead InsightIs Australia Getting Mining Policy All Wrong?Scott sat down with Callum Newman, senior analyst at mining.com.au, to discuss what is really driving the mining sector, where investors should be looking, and why some of the biggest challenges facing Australian mining are entirely self-inflicted. Watch Now. |
Commodity Prices
Precious Metals (USD/toz)
| Gold |
$4,055+0.30% |
| Silver |
$58+1.10% |
| Platinum |
$1,629-0.66% |
| Palladium |
$1,264-1.26% |
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Base Metals & Commodities
| Copper USD/t |
$14547.28+0.55% |
| Nickel USD/t |
$17165.50-0.29% |
| Zinc USD/t |
$3611.94-0.71% |
| Lead USD/t |
$1862.80-0.36% |
| WTI Crude USD/bbl |
$80.12+0.10% |
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Prices updated as of 4 Aug 2026, 8:03 am AEST |
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Market Movers
| Market ClosedWinners & Losers returns with the next session. Market shut as of 4 August 2026. |
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| Presented By |
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| Sierra Nevada Gold |
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| ASX: SNX |
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| Emerging Saudi Arabian Developer & Explorer |
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| Sierra Nevada Gold is advancing As Safra, a large copper-gold system extending over more than 5.5km of strike in the Arabian Shield. Initial drilling has confirmed broad, continuous zones of mineralisation including high-grade intervals, with a major follow-up program now in preparation. |
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| Find Out More |
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| In-Country Operating Subsidiary |
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| Today’s Stories |
Nikkei AsiaUS and China AI Demand Drives Copper Prices to Near-Record HighsCopper is climbing back toward historic highs on a surge in US and Chinese demand for a metal central to artificial intelligence infrastructure. Inventories outside the United States are falling as American buyers move to get ahead of potential tariffs.
| Our TakeAI infrastructure is now the marginal buyer setting the copper price. Non-US stocks draining ahead of tariffs makes this a trade policy squeeze too. |
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ReutersChinese Copper Foil Giant Londian Wason Eyes $1.7 Billion Valuation in US IPOThe Shenzhen electrolytic copper foil maker is seeking up to $78.6 million by offering roughly 3.6 million American Depositary Shares at $20 to $22, listing on the NYSE under the ticker FOIL. It would be the biggest New York listing by a Chinese company in more than a year. Backers include SK Group and Mirae Asset, with Beijing having cleared the listing in December.
| Our TakeThis prices the layer between the metal and the battery. A clean debut also reopens a New York window shut to Chinese issuers for over a year. |
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Mining WeeklyIndonesia Resumes Exports of Minerals Containing Rare Earth ByproductsJakarta has restarted exports of bauxite, alumina, copper cathodes and nickel derivatives that may carry rare earth elements as byproducts, after mandatory testing stalled shipments. Presidential Chief of Staff Dudung Abdurachman called it a transitional guideline while regulations are drafted. PT Sucofindo will issue 85 delayed surveyor reports and more than a hundred held vessels can now sail.
| Our TakeThe bottleneck was a testing rulebook that did not exist yet. More than a hundred ships now sailing releases tonnage the market had already discounted. |
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Mining WeeklyTrafigura Holding Large Amount of LME Zinc as Prices Hit Four-Year HighOn-warrant LME zinc stocks stand at 73,850 tonnes, around two days of global consumption against last year’s 13.8 million tonne draw. Three entities hold large warrant and cash positions, with Trafigura named as one of them by two industry sources. Three-month zinc touched $3,703.50 a tonne on Monday, its highest since August 2022.
| Our TakeTwo days of consumption on warrant with three holders controlling it is a squeeze structure. The 19 August expiry is the date that matters. |
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MiningmxNamibia’s Gold Rush Is Intact Thanks to Wia, B2GoldOutput may dip in 2026 as open pit mining winds down at B2Gold’s Otjikoto, where the Antelope underground project extends mine life to 2032. WIA Gold’s Kokoseb has grown from a 2021 discovery to nearly 2.93 million ounces, with a final investment decision expected this month after an A$92 million raise. Shanjin International’s Twin Hills is set to become Namibia’s third major commercial gold mine.
| Our TakeA Kokoseb investment decision this month turns a discovery story into a funding one. The A$92 million raise says the market has already backed it. |
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The Northern MinerAI Boom Lifts Mining While Competing for PowerArtificial intelligence is lifting demand for mined metals while competing with mining operations for scarce electricity. Suppliers indicate the shortfall could be met within a couple of years.
| Our TakePower access is now a project selection variable. Developers with locked-in contracts get built, the rest wait on the grid. |
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ReutersMali Says Mining-Backed Fund Could Unlock Up to $800 Million for Infrastructure ProjectsMali could raise up to 500 billion CFA francs, or $883.1 million, from recent mining reform revenues to fund energy and infrastructure projects. The vehicle is part of a wider push to capture more value from the sector.
| Our TakeAn $883 million fund built on reform revenues institutionalises the fiscal squeeze behind recent disputes. Operators in Mali should price it as permanent. |
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KitcoTrump Expected to Attend State Department Roundtable With Mining CEOs Amid Critical Minerals PushPresident Donald Trump is expected to attend a State Department roundtable with senior mining executives on Friday, according to two sources. The meeting forms part of the administration’s critical minerals push.
| Our TakeA president in the room moves critical minerals from agency policy to White House priority. Offtake and funding support is the thing to watch. |
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| ABC NewsWorker Dies After Being Hit by Truck at United Wambo Open Cut Coal MineA worker in his 50s has died after being hit by a truck at the United Wambo Joint Venture Open Cut mine, more than 20km west of Singleton in New South Wales. The Glencore and Peabody joint venture is suspending operations while police investigate. |
