The Rio Tinto-owned Tiwai Point aluminum smelter in New Zealand faces strike risk, with 186 workers, about 28% of the workforce, planning stoppages on May 4, 6, 8 and 10. The action follows around 2.5 years of unresolved labor negotiations over pay, benefits and working conditions. The company has proposed mediation on May 20 to reach an agreement. While management said current terms remain competitive and negotiations are ongoing, the planned industrial action could disrupt production schedules and operational stability at the smelter. If talks fail to make progress, the risk of prolonged disruptions may increase, creating uncertainty for near-term aluminum supply and adding pressure to an already tight global market environment.

Every $10 increase in crude oil prices is expected to raise the per-ton extraction cost of large iron ore mines by an average of $0.3, while the cost for small mines is expected to rise by about $2.85. High-cost small mines, especially iron concentrate producers, will be very vulnerable when facing cost shocks, and mines with different product types will face varying degrees of impact.

Yancoal Australia, the Australian-listed subsidiary of Yanzhou Energy, announced its plan to acquire an 80% interest in the Kestrel coking coal mine in Queensland for up to $2.4 billion, further expanding its high-quality coking coal assets outside China. According to the announcement submitted by Yancoal Australia to the Australian Securities Exchange, the transaction would involve acquiring 100% of the equity in the Kestrel Group to indirectly hold an 80% interest in the Kestrel mine. The consideration comprised a $1.55 billion upfront payment and contingent payments of up to $550 million, with a total consideration cap of $2.4 billion. The transaction was expected to be completed by the end of the September quarter this year, subject to approval from relevant regulatory authorities. This acquisition represented an important step in Yanzhou Energy's continued deepening of its resource portfolio outside China, helping to further consolidate high-quality coking coal assets. Expanding Presence in Premium Global Coking Coal Regions The Kestrel mine is located in the Bowen Basin, Queensland. The basin is one of the world's major coking (metallurgical) coal producing regions, with its coking coal sold to major steel enterprises worldwide. The mine was previously held by a joint venture comprising EMR Capital and Adaro Capital. In 2018, the joint venture acquired the 80% interest in the Kestrel mine from Rio Tinto for $2.25 billion, with the remaining 20% held by Mitsui. Yancoal Australia is the Australian-listed platform under Yanzhou Energy Group, currently operating multiple thermal and coking coal mines in New South Wales and Queensland. This acquisition continued the Yanzhou Energy group's ongoing expansion of coal assets in Australia. Upon completion, Yancoal Australia will secure a significant strategic foothold in the Bowen Basin, one of the world's premier coking coal producing regions, further strengthening its position in the global coking coal supply chain.

Rio Tinto and Century Aluminum raised US billet premiums by around 12%, about 3 cents/lb. (around USD 110/t) above pre-war levels. Middle East disruptions have affected supply from the Persian Gulf, which accounts for about 20% of US imports, tightening domestic supply. The US Midwest premium has reached a record USD 1.1325/lb., while aluminum prices have risen over 10% since late February. Amid growing uncertainty, buyers are shifting to domestic sourcing, while producers are pushing for long-term contracts to secure pricing and supply.

Côte d’Ivoire secured a €65M green bond for its 66 MW Korhogo plant, a West African first. Meanwhile, Voltalia commissioned the 148 MW Bolobedu solar farm in South Africa, supplying Rio Tinto’s RBM mine via a long-term wheeling agreement.

Argentina’s Mining Secretary stated that the country plans to commission eight new lithium projects by 2030, mostly brine-based lithium developments to be jointly developed by domestic and international companies. By then, annual production capacity of lithium carbonate equivalent (LCE) will reach 409,000 tonnes, a 157% increase from the projected 159,000 tonnes in 2026, more than doubling output. Two projects, from Rio Tinto and Galán Lithium, are set to start production within months. Chinese and international firms including Ganfeng Lithium and Xizang Zhufeng Resources are also involved. The eight new projects will add a combined 305,000 tonnes of annual LCE capacity, which will ramp up gradually due to the nature of brine-based lithium extraction.