Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together and dance because why the heck not.

Here are the highlights:

😟 Experts Warn About Platinum Deficit

🫣 Tin Incident Shuts Down Production

🙊 Kazatomprom Loses Leadership Over Russia Deal

😟 Experts Warn About Platinum Deficit

The World Platinum Investment Council predicts a deficit of approximately one million ounces in the platinum market for 2023, largely attributed to an increase in demand from investors and a limited supply from South Africa.

A projected shortfall of 983,000 ounces is expected this year, a significant shift from the surplus of 854,000 ounces recorded in 2022.

When a commodity market experiences a deficit, it typically requires supplemental sources, such as inventories or recycling, to meet demand. However, these "above-ground" stocks could pose accessibility challenges for buyers.

The council also anticipates a surge in demand from the investment sector, along with the automotive and industrial sectors.

Automakers are increasingly opting for platinum over palladium in autocatalysts.

Watch this space.

🫣 Tin Incident Shuts Down Production

A hiccup in operations at Malaysia Smelting Corp (MSC) is set to cause temporary disruptions in their tin production. The company explained that a furnace needs repairs, which will unfortunately result in a few clients having to wait a tad longer than usual for their metal.

As one of the top 10 tin producers, MSC operates two smelters, processing both its own mined tin raw materials and concentrate for other companies.

Operations are expected to be back on track in about two weeks.

The issue arose when a forklift handler accidentally damaged some insulating bricks at the entrance of the rotary furnace, so for now, the furnace will be temporarily shut down for repairs.

Last year, according to its annual report, MSC produced 19,385 tonnes of tin, accounting for around 5% of global supplies.

Meanwhile, the latest figures from the London Metal Exchange show a 1.2% decrease in tin prices, standing at $24,700 per tonne.

One guy with a forklift. That’s all it takes to disrupt production. The world mineral supply chain is always hanging by a very thin thread.

🙊 Kazatomprom Loses Leadership Over Russia Deal

The sale of a part of the Budenovskoye mine, predicted to be the largest global source of uranium, to Russia's nuclear powerhouse, Rosatom, led to the resignation of several senior executives at Kazatomprom, Kazakhstan's state-owned uranium mining company.

This deal, forced by Kazakhstan's sovereign wealth fund against the wishes of Kazatomprom's management, caused the exit of two CEOs, a CFO, a COO, and a CCO within an 18-month period due to transparency concerns.

The Kazakh government, owning 75% of Kazatomprom through its wealth fund, saw this deal as a way to secure Rosatom's supply, as Budenovskoye is projected to contribute more than 10% of the world's uranium output in three years.

Despite the upheaval, Kazatomprom claims the departures were for personal reasons, while insiders suggest they were sparked by potential breach of legal duties due to the deal's lack of disclosure.

If you haven’t noticed, China and Russia are securing uranium supplies ad infinitum. Probably nothing.

The Richest Uranium Mines

Happy Speculating!

The Editor

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.