[SMM Nickel Flash] FINI: Indonesia Resumes Mineral Exports as REE Testing Delays Begin to Ease

US oil and gas producer Devon Energy is reportedly considering the sale of its Eagle Ford and Powder River shale assets in a deal that could be worth more than US$4 billion, according to Bloomberg. The potential divestment comes amid investor pressure to streamline the company's portfolio following its merger with Coterra Energy and sharpen its focus on core Permian Basin operations. Devon is expected to provide an update on the strategic review when it reports earnings in early August, although no final decision has been made.

South Africa's Valterra Platinum expects artificial intelligence and the rapid expansion of data centres to become a new growth driver for platinum group metals (PGMs), as the company reported a 17-fold increase in first-half profit. CEO Craig Miller said AI-related applications currently account for an estimated 200,000–400,000 oz of annual PGM demand, which could increase up to fivefold by 2030. Valterra also sees long-term demand growth from industrial applications, hydrogen technologies and jewellery, while global platinum demand is expected to exceed supply for a fourth consecutive year.

Zijin Gold's planned US$4 billion acquisition of Allied Gold has been terminated after the companies agreed to let the July 29 deadline expire, citing the lack of timely regulatory approval in China. Although the transaction had received approvals in Canada and other jurisdictions, several closing conditions remained outstanding. Instead of proceeding with the acquisition, Zijin will subscribe for approximately 12.8 million newly issued Allied Gold shares through a private placement worth about US$295 million, resulting in a 9.2% equity stake upon completion.