Lithium Slides on EU Hybrid Curbs, Centinela Talks Resume, and Anglo Backs South Africa

Lithium carbonate fell about 5.7% in China as EU hybrid import curbs dented demand hopes. Centinela and its unions resume talks Tuesday while copper holds near US$14,500. Gold reached its highest since October 2 ahead of US inflation data. Anglo American's CEO backed South Africa with an 11.2 billion rand Sishen project. Atalaya's Touro copper project won EU strategic status.

Show Notes

Lithium Carbonate Slides as EU Hybrid Curbs Dent Demand Hopes: First, lithium, which had a rough Monday in China. Shanghai Metals Market quoted spot battery-grade lithium carbonate at an average of 115,400 yuan a tonne, down 6,950 yuan, or about 5.7 percent, from the previous working day. The most-traded futures contract fell as much as nearly 11 percent, to an intraday low of 105,320 yuan, as prices dropped while volume and open interest rose. Centinela Talks Resume Tuesday as Copper Holds Near 14,500 Dollars: Next, copper and Chile's labour front. Reuters reports Centinela and its two striking unions, Minera Esperanza and Distrito Centinela, will resume negotiations Tuesday at 10 a.m. in Antofagasta under a voluntary mediation process proposed by regional labour authorities. Antofagasta Minerals said it welcomed the talks, remains committed to reaching an agreement, and has kept operating during the strike in line with labour law. Gold Edges to a Ten-Day High Ahead of U.S. Inflation Data: Meanwhile, gold started the week firmer. Reuters, via CNBC, reports spot gold rose 0.3 percent to 4,206 dollars an ounce, its highest since October 2. December U.S. futures gained 0.3 percent to 4,230 dollars and 40 cents. Spot silver rose 0.5 percent to 61 dollars and 12 cents, platinum gained 1 percent to 1,704 dollars and 70 cents, and palladium climbed 1.2 percent to 1,161 dollars and 81 cents. Anglo American Backs South Africa With an 11-Billion-Rand Sishen Project: Next, South Africa, where Anglo American's chief executive made the case that the country remains a premier mining jurisdiction. Engineering News, reporting on a Joburg Indaba conversation covered by Mining Weekly, says Anglo is investing 11.2 billion rand in an ultra-high dense media separation iron ore project at Sishen in the Northern Cape. That is about 680 million U.S. dollars, or roughly 970 million Canadian. Atalaya's Touro Copper Project Wins EU Strategic Status: Finally, Spain, where a copper project in Galicia has joined the European Union's strategic list. Atalaya Mining announced Monday that Proyecto Touro, held through its local entity Cobre San Rafael, was designated a strategic project under the Critical Raw Materials Act. It follows last week's European Commission selection of 46 projects across the bloc. Sources: - Shanghai Metals Market (lithium analysis) — Lithium Carbonate Slides as EU Hybrid Curbs Dent Demand Hopes: https://news.metal.com/th/newscontent/104152430-smm-analysis-weak-demand-expectations-dominate-spot-lithium-carbonate-falls-below-the-110000-yuan-mark - Shanghai Metals Market (midday comment) — Lithium Carbonate Slides as EU Hybrid Curbs Dent Demand Hopes: https://news.metal.com/newscontent/104151989-metals-broadly-rose-lithium-carbonate-fell-below-the-110000-mark-shfe-copper-shfe-zinc-shfe-tin-and-shfe-gold-led-the-gains-shfe-silver-led-the-rally-smm-midday-comment - Reuters via Mining.com.au — Centinela Talks Resume Tuesday as Copper Holds Near 14,500 Dollars: https://mining.com.au/chiles-centinela-copper-mine-unions-to-resume-talks-amid-strike/ - teleSUR English — Centinela Talks Resume Tuesday as Copper Holds Near 14,500 Dollars: https://www.telesurenglish.net/centinela-mine-strike/ - Shanghai Metals Market (Escondida mediation) — Centinela Talks Resume Tuesday as Copper Holds Near 14,500 Dollars: https://news.metal.com/newscontent/104144101-bhp-seeks-formal-mediation-at-escondida-temporarily-delaying-strike-at-worlds-largest-copper-mine - Shanghai Metals Market (copper morning meeting) — Centinela Talks Resume Tuesday as Copper Holds Near 14,500 Dollars: https://news.metal.com/newscontent/104150645-supply-marginally-loosening-high-prices-may-be-hard-to-sustain-smm-copper-morning-meeting-summary - Reuters via CNBC — Gold Edges to a Ten-Day High Ahead of U.S. Inflation Data: https://www.cnbc.com/2026/10/12/gold-gains-on-weaker-oil-dollar-us-inflation-data-in-focus.html - Engineering News (Creamer Media) — Anglo American Backs South Africa With an 11-Billion-Rand Sishen Project: https://www.engineeringnews.co.za/article/south-africa-remains-premier-mining-jurisdiction-anglos-wanblad-assures-2026-10-11 - Atalaya Mining (RNS via Investegate) — Atalaya's Touro Copper Project Wins EU Strategic Status: https://www.investegate.co.uk/announcement/rns/atalaya-mining--atym/touro-declared-strategic-project-/9816840 - Mining Technology (EU 46 projects) — Atalaya's Touro Copper Project Wins EU Strategic Status: https://www.mining-technology.com/news/ec-46-projects-raw-material-supply/ - Perplexity Finance (UBS expectation) — Tomorrow's Flashpoint: https://www.perplexity.ai/finance/RIO

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