About this episode
This week’s wrap is packed – featuring special guest James Nicholls, a resources M&A lawyer with an abundance of deal-making experience. We kick off with the industry’s biggest shake-up in a decade: Teck and Anglo American’s plan to tie the knot – a deal we could spend hours dissecting. From there, James takes us into his sweet spot, unpacking the rise of retail shareholder activism through the lens of Capricorn and Warriedar.Grade Control - BHP & Rio in the wake of the mega-deal - Rio’s challenges with Guinea’s downstream push - Iluka shelving Cataby & SR2 - Genesis’ approval for Tower Hill Sweet & Sour Deals - Jindalee’s SPAC agreement - Alcoa’s cheque for Western Gas - Marimaca’s “non-deal roadshow” - Elemental Royalty & EMX’s merger - New Found Gold’s takeover of Maritime Stocks covered: AAL.L, TECK.TO, BHP, RIO, WA8, CMM, AVL, ILU, GMD, JLL, AAI, MC2, ELE.C, EMX.C, NFG.C, MAE.V Hidden Gems: Grant Williams & Tony Deden Interview This was recorded on 10/9/2025. …………… TIMESTAMPS (00:00) — Teck and Anglo American's Deal ?(00:42) — Deal Background & Context ?(02:33) — Market Reaction & Synergies ?(04:19) — Regulatory Hurdles & Interloper Risk (13:27) — Rise of Retail Shareholder Activism ?(13:34) — Background of Capricorn-Warriedar Deal ?(14:42) — Retail Shareholder Response ?(16:14) — Evolution of Shareholder Activism (35:24) — Grade Control ?(35:43) — BHP & Rio in the wake of the mega-deal ?(38:23) — Rio’s challenges with Guinea’s downstream push ?(40:26) — Iluka shelving Cataby & SR2 ?(42:33) — Genesis’ approval for Tower Hill (45:54) — Sweet & Sour Deals ?(45:54) — Jindalee’s SPAC agreement ?(48:18) — Alcoa’s cheque for Western Gas ?(50:02) — Marimaca’s “non-deal roadshow” ?(51:08) — Elemental Royalty & EMX’s merger ?(52:25) — New Found Gold’s takeover of Maritime (54:09) — Hidden Gems …………… Join 14k+ subscribers to the ????????????Director’s Special????????????: one daily email with all the news that matters in mining …………… PARTNERS Thank you to the mining services businesses that make this content possible: ??????????Sandvik Ground Support?????????? – The only ground support you’ll ever need ?????????Focus by Marketech
