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Happy Thursday! Today we examine what the downturn in China’s housing market means for iron ore and steelmaking coal, a new business structure for Teck, M&A in the silver mining sector and more.

Also, you can find the latest in Benzinga’s mining coverage here.

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TOP STORY

What China’s Steelmaking ‘Winter’ Means for Iron Ore, Coking Coal

Briefly: The malaise in China's property sector casts a long shadow over iron ore and coking coal.

The Quote: Last month, the chairman of China's Baowu Steel Group, the world's biggest steelmaker, said the industry faces a "harsh winter" as the world's second-biggest economy grapples with a downturn in its housing market.

The Context: That market is a key source of demand for steel and a driver of the broader economy, which consumes even more of the alloy.

What’s Next: The markets for metallurgical coal indicate traders don't expect much of a rally in either iron ore or coking coal anytime soon.

Click here to read more.

ZINGERS

First Majestic Silver Corp. (NYSE: AG) has announced an all-stock acquisition of Gatos Silver (NYSE: GATO) valued at approximately $970 million.

Allied Gold (OTC: AAUCF) has reached a preliminary agreement with Mali's government for a 10-year permit on the Sadiola gold mine and permission to exploit the nearby Diba deposit.

Trafigura has been identified as the client behind Mineral Resources' (OTC: MALRF) $400 million prepayment deal for iron ore.

DIGGING IN

Teck Resources Unveils Post-Coal Business Structure, Promotes New Executives

Briefly: Teck Resources has announced a new business structure to accelerate its transition into a pure-play energy transition metals company.

The Context: Following the sale of its steelmaking coal unit to Glencore, the company has restructured to expand its production of metals like copper.

The Structure: Teck will function through two main regional business units: North America and Latin America – leveraging the company's substantial copper assets and ensuring operational efficiency.

What else? Teck has promoted several senior vice presidents to executive vice president roles, solidifying the company's executive ranks.

Click here to read more.

ANALYST RATINGS

U.S. Gold (Nasdaq: USAU) - Date: 09/05/2024, Analyst Firm: HC Wainwright & Co., Rating: Reiterates Buy, Target: $11.00

US Goldmining (Nasdaq: USGO) - Date: 09/05/2024, Analyst Firm: HC Wainwright & Co., Rating: Reiterates Buy, Target: $23.50

INSIDER TRADES

Notable Purchases

Peabody Energy (NYSE: BTU) - Purchase Dates: 8/13-15/2024, Insider: Thomist Capital Management, Value: $1.79M, Delta Own: 11.72%

United States Antimony Corp. (AMEX: UAMY) - Purchase Date: 8/14/2024, Insider: Rachel Hubert (controller), Value: $3.37K, Delta Own: New Position

Notable Sales

Southern Copper (NYSE: SCCO) - Sell Date: 8/25/2024, Insider: Luis Miguel Palomino Bonilla ( director), Value: $10.51K, Delta Own: -3.98%

Royal Gold (NASDAQ: RGLD) - Sell Date: 8/28/2024, Insider: Paul Libner (CFO), Value: $213.79K, Delta Own: -7.44%

Go Deeper: Learn where the insiders are buying and selling.

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