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Lynas Pays A$968 Million in Scrip for Brazil's Caldeira Rare Earths: First, rare earths. Lynas Rare Earths, the world's largest producer outside China, has agreed to buy Meteoric Resources in an all-share deal valuing the Perth-based developer at 968 million Australian dollars, about 672 million U.S. dollars, according to Reuters. Under the scheme of arrangement, Meteoric holders receive 0.0207 new Lynas shares for each share held, a premium of more than 68% to Meteoric's last close. Meteoric holders would own about 5.9% of Lynas on a fully diluted basis.
Chile's Copper Output Hits a 15-Year Low as Escondida and Centinela Strike Risk Builds: Next, Chile, where the copper supply picture tightened on three fronts at once. First, the numbers. The national statistics institute says Chile mined 369,500 tonnes of copper in August, down 12.8% from a year earlier and the lowest monthly figure since February 2011. July had been down 9.4%.
Sigma Lithium Halts Its Only Mine After Brazilian Licence Ruling: Meanwhile, in Brazil, Sigma Lithium has halted all mining and processing at its Grota do Cirilo complex, its only producing asset, with annual lithium concentrate capacity of 330,000 tonnes, according to The Northern Miner. The shutdown began Wednesday after Sigma received an electronic notice from Minas Gerais state environmental regulator FEAM the previous day.
Yancoal Completes US$1.85 Billion Kestrel Metallurgical Coal Takeover: Also on the deals desk, Yancoal Australia has completed its acquisition of an 80% interest in the Kestrel coal mine, a large-scale, long-life metallurgical coal asset in Queensland's Bowen Basin. According to Yancoal's exchange filing, the upfront cash consideration paid at completion was 1.85 billion U.S. dollars, subject to customary adjustments. The sellers include EMR Capital Advisors and Adaro Capital.
Gold Heads for a Second Weekly Loss as Payrolls Loom: Finally, gold. Spot gold was trading around 4,155 dollars an ounce early Friday, down more than 3% for the week and on track for a second straight weekly decline, according to Reuters. Silver sat near 60.50 dollars.
Sources: - Reuters — Lynas Pays A$968 Million in Scrip for Brazil's Caldeira Rare Earths: https://www.reuters.com/business/australias-lynas-rare-earths-buy-meteoric-resources-672-million-deal-2026-09-30/ - The Northern Miner — Lynas Pays A$968 Million in Scrip for Brazil's Caldeira Rare Earths: https://www.northernminer.com/news/lynas-shares-sink-on-a968m-meteoric-deal/1003895392/ - The Rio Times (citing INE, Reuters) — Chile's Copper Output Hits a 15-Year Low as Escondida and Centinela Strike Risk Builds: https://www.riotimesonline.com/copper-markets-latam-thursday-october-1-2026/ - Fastmarkets — Chile's Copper Output Hits a 15-Year Low as Escondida and Centinela Strike Risk Builds: https://www.fastmarkets.com/insights/unions-at-escondida-centinela-philexs-padcal-copper-mines-vote-for-strike-action/ - Shanghai Metals Market — Chile's Copper Output Hits a 15-Year Low as Escondida and Centinela Strike Risk Builds: https://news.metal.com/en/newscontent/104143111-escondida-supervisors-vote-95-to-authorise-strike-talks-enter-mandatory-mediation - The Northern Miner — Sigma Lithium Halts Its Only Mine After Brazilian Licence Ruling: https://www.northernminer.com/news/brazil-court-order-idles-sigma-lithium-mine/1003895373/ - Reuters — Sigma Lithium Halts Its Only Mine After Brazilian Licence Ruling: https://www.reuters.com/world/americas/brazilian-court-suspends-licenses-sigma-lithium-mine-2026-09-06/ - Yancoal ASX announcement — Yancoal Completes US$1.85 Billion Kestrel Metallurgical Coal Takeover: https://announcements.asx.com.au/asxpdf/20261001/pdf/074sw628cc2lx8.pdf - Mining Weekly — Yancoal Completes US$1.85 Billion Kestrel Metallurgical Coal Takeover: https://www.miningweekly.com/article/yancoal-completes-185bn-takeover-of-kestrel-met-coal-mine-2026-10-01 - CNBC / Reuters — Gold Heads for a Second Weekly Loss as Payrolls Loom: https://www.cnbc.com/2026/10/02/gold-slips-before-us-payrolls-data-set-for-second-weekly-loss.html - The Rio Times — Gold Heads for a Second Weekly Loss as Payrolls Loom: https://www.riotimesonline.com/gold-silver-precious-metals-thursday-october-1-2026/
