1. CORE LITHIUM RESTARTS FINNISS — Core Lithium resumes blasting and excavation at its Finniss project in the Northern Territory, 90 km south of Darwin, after a two-year price-driven shutdown. The restart is backed by a $170M initial investment and a planned $120M equity raise. Lithium prices are at ~$4,200/tonne. First ore processing targeted for September quarter; first spodumene concentrate shipment in December quarter. 10-year mine life; 300 workers at peak. Underground development at BP33 to follow the open pit.
2. INDONESIA SOE COAL EXPORT MONOPOLY — President Prabowo Subianto signed a government regulation on May 20 establishing the Natural Resources Export Management Agency, routing all coal, ferroalloy, and palm oil exports through designated state-owned enterprises (BUMN). Transition phase: June 1 to August 31, 2026. Full SOE control of all export contracts and logistics: September 1, 2026. Major impact on Indonesian coal supply chains serving Japan, South Korea, India, and China.
3. GOLD NAVIGATES IRAN HEADLINES — Gold fell $84.82 (1.86%) to $4,493 on May 19 as Trump called off planned Iran military strikes. Silver dropped 4.92% to $74.43. Gold rebounds to $4,499 on May 20 as VP Vance signals US-Iran talks progressing. Structural floor supported by central bank buying: 244 tonnes Q1/2026, 863 tonnes in 2025. Incrementum's In Gold We Trust 2026 report released today — conservative $4,800 decade target already reached; inflationary scenario target $8,900.
4. COLOMBIA vs. GLENCORE ON CERREJON — Colombia presses Glencore to begin managed transition planning at Cerrejon coal mine in La Guajira ahead of 2034 concession expiry. Mine produced 16.8M tonnes in 2025. Generates ~$166M/year in royalties; supports 12,000+ jobs. Consultants recommend a "managed transition compact" with ring-fenced financing, retraining, and infrastructure repurposing.
Tomorrow's Flashpoint: Cornish Metals equity raise deadline (May 21) — $161M needed for $210M bond to settle and South Crofty FID to proceed.
Sources: ABC News, Bloomberg, The Motley Fool Australia, SMM/Metal.com, ScrapMonster, The Business Times, Texas Precious Metals, Mining.com
