Sunday Wrap - 17 May 2026

Presented By

ASX: TM1

Australia's Next Major PGM Discovery

Terra Metals' Dante Project hosts large-scale Bushveld-style copper-PGE sulfide reefs just 15km from BHP's $1.7Bn Nebo-Babel development. Dante is rapidly emerging as Australia's next major PGM system.

•

Trump's Designs on Greenland Prod Investment, Tourism Likely to Pay Off Faster Than Mines

Denmark's export credit agency EIFO says renewed attention on Greenland has triggered a surge of business interest, but tourism represents a faster path to value creation than raw materials. An international airport near Ilulissat is among the infrastructure projects being advanced.

•

Government Watches as Ravenswood Gold Mine Sets Refinancing Deadline

Ravenswood Gold has reached an agreement with lenders to work toward a comprehensive refinancing by June 15. Queensland's largest gold mine is weighed down by approximately 220,000 ounces of hedged gold locked in at prices roughly half the current spot rate.

•

Middle East Aluminium Disruption Drives Market Towards Historic Deficit

Operational shutdowns across Gulf smelters are driving the global aluminium market toward a deficit that JP Morgan estimates at around 2 million tonnes for 2026. LME warehouse stocks have fallen 28% year on year and analysts warn prices could sustain near $4,000 per tonne.

•

Why Barrick Mining and Newmont Corp Could Rebound Now, and Desert Gold Could Be Poised for a Price Surge

Barrick and Newmont have pulled back into consolidation phases, with analysts arguing current levels represent a compelling re-entry point. The report also highlights Desert Gold Ventures, a West Africa focused junior advancing toward production in Mali.

•

This New $5bn Gold Giant Is Already Hunting a Rival

Predictive Discovery, which completed its merger with Robex Resources in April to form a combined entity targeting over 400,000 ounces per annum by 2029, has set its sights on Turaco Gold as it pushes for ASX 100 entry. Turaco holds the 4.65 million ounce Afema gold project in Cote d'Ivoire.

•

Gold Could Hit $17,250 as Dollar Loses Reserve Status: Pierre Lassonde

Franco-Nevada co-founder Pierre Lassonde told Kitco News that gold could reach $17,250 per ounce within three years as the US dollar gradually loses its reserve currency status. He noted gold mining equities remain significantly undervalued relative to current operating margins.

•

Japan's Sojitz Eyes Southeast Asia for New Rare Earths Supply

Sojitz is looking beyond its existing Australian supply chain to Southeast Asia for new rare earths sources, with Laos, Cambodia and Vietnam identified as priority regions. The company already supplies over 70% of Japan's neodymium market through its long-term Lynas partnership.

•

Zimbabwe Sovereign Wealth Fund Seeks $250 Million to Boost Gold Output

Zimbabwe's Mutapa Investment Fund is seeking US$250 million in debt financing to expand production at its Shamva and Jena gold mines. Shamva is already producing 49,000 tonnes of ore per month, a rate not seen since 1910.

•

Canada's Mining Industry Calls for Sweeping Reforms to Stay Competitive

Canada's mining sector is calling for broad regulatory and policy reforms to maintain competitiveness amid accelerating global competition for critical minerals investment. Multiple provinces, led by Ontario, have moved to overhaul permitting frameworks.

•

Appian Deepens Namibia Push With $400 Million Copper Mine Acquisition

Appian Capital Advisory has acquired a majority stake in Namibia's Omitiomire copper mine in a deal valued at $400 million. The acquisition positions Appian as a meaningful player in an emerging Namibian copper sector at a moment when supply concerns are tightening the global market.

•

China's Grip on Rare Earths Remains Tight Amid Xi-Trump Showdown

Exports of yttrium, dysprosium and terbium remain down roughly 50% compared to the 12 months before China's export controls took effect. The sustained supply squeeze is intensifying pressure on Western governments to build alternative rare earth supply chains.

•

Equinox Gold Agrees to Buy Orla Mining in $5.1 Billion Deal

Equinox Gold has agreed to acquire Orla Mining in a cash-and-stock deal valuing the Canadian miner at $5.1 billion, the latest consolidation move as producers chase scale at record gold prices. The combined company will operate mines across Canada, the US, Mexico and Nicaragua.

•

Copper Price Shrugs Off Middle East Uncertainty to Near Record High

Copper prices have moved close to record highs as the metal decouples from Middle East geopolitical uncertainty, now driven by its own supply and demand dynamics rather than broader risk sentiment.