China Signs Rio Tinto as Fortescue Warns, BHP Chair Eyes Canada's Tax Model, Highland Valley Copper Strike Notice, and Chile's Lithium Tenders

China's State Buyer Signs Rio Tinto While Fortescue Warns of Impact: First, iron ore. Reuters, citing people with knowledge of the matter, reports China Mineral Resources Group, the state-owned buyer known as CMRG, has agreed a new annual supply deal with Rio Tinto. CMRG verbally notified some steel mills on Wednesday without giving details, and was due to start collecting on Thursday the volumes each mill needs to buy. It was not immediately clear how much Rio Tinto ore the contract covers. BHP Chair Points to Canada's Tax Deduction at Annual Meeting: Meanwhile, BHP held its annual general meeting on Thursday. Chair Ross McEwan used his address to press for investment reform. Reuters reports he pointed to Canada's new Productivity Mega Deduction, which lets businesses immediately deduct the full cost of eligible capital investment, including mine development costs. McEwan said, "Make no mistake, Australia must compete for capital if it wants to win, nationally, and in every state." He added, "Australia should pay close attention to that." Highland Valley Copper Workers Serve 72-Hour Strike Notice: Next, British Columbia, where workers at Teck's Highland Valley Copper mine have served strike notice. Teck said on Wednesday it received the notice from United Steelworkers Local 7619, which entitles the union to begin strike action as early as 8 a.m. Pacific on October 24. The collective agreement expired on September 30. Chile Plans Five New Lithium Tenders to Double Output: Finally, a policy push from the world's second-biggest lithium producer. Reuters reports Chile plans to issue tenders for five more lithium projects next year, as part of a drive to more than double output within a decade. Mining Minister Daniel Mas gave the interview during LME Week in London. Gold Drops Over 1% While Copper Holds Near US$14,400: Meanwhile, markets. WAM, via Qazinform, reports spot gold fell 1.1 percent to 4,094 dollars and 90 cents an ounce by 03:33 GMT on Thursday, its lowest since October 14. December U.S. gold futures fell 0.9 percent to 4,111 dollars and 40 cents. Spot silver fell 2.6 percent to 56 dollars and 44 cents, platinum fell 2.1 percent to 1,594 dollars and palladium fell 2.6 percent to 1,059 dollars. Sources: - Reuters via Mining Weekly (CMRG and Rio Tinto) — China's State Buyer Signs Rio Tinto While Fortescue Warns of Impact: https://www.miningweekly.com/article/chinas-state-iron-ore-buyer-agrees-new-annual-supply-contract-with-rio-tinto-sources-say-2026-10-21 - Reuters via News & Observer (Fortescue) — China's State Buyer Signs Rio Tinto While Fortescue Warns of Impact: https://www.newsobserver.com/news/business/article317723401.html - Proactive via Yahoo Finance — China's State Buyer Signs Rio Tinto While Fortescue Warns of Impact: https://uk.finance.yahoo.com/news/bhp-rio-tinto-fortescue-hit-004100169.html - Shanghai Metals Market — China's State Buyer Signs Rio Tinto While Fortescue Warns of Impact: https://news.metal.com/newscontent/104173846-smm-iron-ore-anglo-american-draws-down-stocks-to-hold-sales-iron-ore-futures-spot-weaker - Reuters via Mining Weekly (BHP AGM) — BHP Chair Points to Canada's Tax Deduction at Annual Meeting: https://www.miningweekly.com/article/bhp-chair-points-to-canada-tax-incentives-in-call-for-investment-reforms-2026-10-22 - BHP 2026 AGM Addresses (SENS) — BHP Chair Points to Canada's Tax Deduction at Annual Meeting: https://www.businessday.co.za/sens/564075/ - Teck Resources news release — Highland Valley Copper Workers Serve 72-Hour Strike Notice: https://www.thecanadianpressnews.ca/globenewswire_press_releases/teck-receives-highland-valley-copper-operations-strike-notice/article_18106218-00bc-566d-a871-922bd3d55dac.html - USW Local 7619 release (GlobeNewswire via The Spec) — Highland Valley Copper Workers Serve 72-Hour Strike Notice: https://www.thespec.com/globenewswire/steelworkers-at-highland-valley-copper-issue-72-hour-strike-notice/article_32d72ce7-d220-5b5a-a625-c0d0e3321a52.html - Briefs.co — Highland Valley Copper Workers Serve 72-Hour Strike Notice: https://www.briefs.co/news/workers-at-canada-s-biggest-copper-mine-signal-possible-stri/ - Reuters via Mining Weekly (Chile lithium) — Chile Plans Five New Lithium Tenders to Double Output: https://www.miningweekly.com/article/chile-plans-five-new-lithium-tenders-in-push-to-double-output-2026-10-21 - WAM via Qazinform — Gold Drops Over 1% While Copper Holds Near US$14,400: https://qazinform.com/news/gold-prices-drop-over-1-on-thursday-f13dc8 - International Copper Association Australia, Copper Weekly Brief — Gold Drops Over 1% While Copper Holds Near US$14,400: https://copper.com.au/news/mining/copper-weekly-brief-22-october-2026/amp/ - Teck Resources news release — Tomorrow's Flashpoint: https://www.thecanadianpressnews.ca/globenewswire_press_releases/teck-receives-highland-valley-copper-operations-strike-notice/article_18106218-00bc-566d-a871-922bd3d55dac.html