The Mining Insider · 2026-06-25 · 10 min
The Mining Insider | June 25, 2026 Story 1 - BHP's Brandon Craig Takes Over July 1 Brandon Craig (53) starts as BHP CEO July 1, 2026. Immediate challenges: Port Hedland three-union ultimatum (July 7 next session); $2.3B Jansen Stage 2 overrun (was under Craig's Americas oversight); year-end Copper South Australia smelter expansion decision; Vicuna copper JV (Argentina/Chile). On uranium: 'I would have a really good look at uranium, but scale is hard.' BHP at ~5% global uranium supply via Olympic Dam byproduct. On M&A: bolt-on possible; Glencore - Rio Tinto standstill expiring. Source: Reuters, June 25, 2026. Story 2 - Gold Below $4,000: Seven-Month Low Spot gold fell to $3,983/oz on June 25 - first time below $4,000 since October 2025. US dollar at highest since May 2025. Fed rate hike bets surging. Copper at ~$6.00/lb (six-week low). Silver near December 2025 lows. Impacts: Barrick (Mali dispute), Newmont (Cadia ramp-up), Agnico Eagle all face margin pressure. Standard Chartered targets $5,100 mid-2027; Morgan Stanley $5,200 H2 2026. Source: CNBC, Qatar Day, Trading Economics.
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