TOP NEWS
* Rio Tinto filed a lawsuit for A$493 million in loss and damages against a unit of engineering contractor Monadelphous Group Ltd. over an alleged breach of a maintenance contract that resulted in a fire in January 2019 at the former's iron ore processing facility at Cape Lambert in Western Australia.
* MMG Ltd. subsidiary Minera Las Bambas SA is facing a US$44.1 million tax claim in Peru over fees paid under certain loans in 2014 related to the acquisition of the Las Bambas copper mine.
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China's resilience and ongoing demand for commodities will be key factors in how metal prices react to a potential second wave of COVID-19 infections, mining analysts said.
The company grouped several of its U.S. coal mining assets into six bundles for potential buyers looking to secure assets of a particular quality or in a certain region in the U.S. as Rhino goes through a Chapter 11 bankruptcy reorganization.
BASE METALS
* The infrastructure of Myanmar Metals Ltd.'s Bawdwin project in Myanmar is expected to be replaced in order to support the mining and refining of lead, with the mine operations set to resume in 2023, Myanmar Times reported.
PRECIOUS METALS
* PT Aneka Tambang Tbk's profit during the first six months totaled 84.8 million Indonesian rupiah, plunging year over year from 428.0 million rupiah.
* South Africa's Impala Platinum Holdings Ltd., or Implats, appointed Thandi Orleyn independent nonexecutive director and chairman designate, effective Aug. 3.
BULK COMMODITIES
* Mosaic Co. said its second-quarter attributable net income amounted to US$47.4 million, or earnings of 12 U.S. cents per diluted share, swinging from a net loss of US$233.1 million, or loss of 60 cents per share, in the year-ago period.
* Steel manufacturers in Japan are expected to report a decline in their earnings this week after one-third of the country's blast furnaces were temporarily shut down due to the impacts of the COVID-19 pandemic, Bloomberg News reported.
* India's coal ministry clarified that any foreign direct investment in commercial mining by an entity from a country that shares land border with India will be permitted only after securing government approval, CNBC TV18 reported.
* Taiwan-based Yuanta Securities Investment Trust joined the list of Asian and global lenders ditching Adani Enterprises Ltd.'s Abbot Point coal terminal in Queensland, Australia, by selling A$27 million worth of bonds in the project, The Australian Financial Review reported.
SPECIALTY
* The COVID-19 crisis has exacerbated concerns across the lithium-ion battery industry about China’s dominance of the supply chain, S&P Global Platts reported.
INDUSTRY NEWS
* Former federal Treasury head and bank chairman Ken Henry blasted Australia's failure to raise revenue via imposition of proper taxes on highly profitable mining and energy projects, The Australian Financial Review reported.
* Western Australia's Department of Planning, Land and Heritage detailed a bill overhauling "weak" penalties for the misuse of heritage sites as well as providing Aboriginal people the right to appeal agreements regarding consent for the destruction of heritage sites, The Australian reported.
* Rio Tinto intends to invest about A$60 million in training and development in Western Australia in 2021, in a bid to support the development of critical skills required by the mining industry into the future.
MARKETS
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