Gold Soars & China Corners BHP (Jeff Quartermaine)

We had the privilege of being joined by outgoing Perseus boss Jeff Quartermaine for the latest Weekly Wrap episode.

The conversation began by unpacking Jeff’s 12-year rein as CEO to his ultimate departure, having built a ~$7B business. He shares the deals that could’ve been, the lessons learnt and what history has taught him about this bull market.

For our big stories, we unpack the double announcement by Newmont and Barrick that new CEO’s would be taking charge, as well as BHP’s enormous tussle with its largest customer, China.

Grade control covers:
• Alcoa’s closure of Kwinana
• Albanese spruiking Australia’s critical minerals reserve
• Grasberg suspension
• Wia Gold’s scoping study

Sweet & sour deal unpacks:
• MMG’s zero coupon financing
• Zijin Gold’s bumper IPO
• Capital raising galore

Stocks mentioned: PRU, NEM, B.NYSE, BHP, AAI, FCX.NYSE, WIA, 1208.HK, 2899.HK, NXG, HGO, TSO, STN, JBY, NGEX.TO, PEX

You can connect with Jeff on LinkedIn, he just created an account:
  / jeff-quartermaine-037146387  

This was recorded on 2.10.2025.


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▶️ CHAPTER TIMESTAMPS

0:00 – Intro
3:00 – Jeff Quartermaine reflections from Perseus
7:40 – Managing Relationships With Investors
13:10 – Must-Haves When Running A Mining Business
16:20 – The African Mining Landscape And What Next for Perseus
20:30 – Competing With Chinese Capital
24:20 – Barrick & Newmont Leadership Changes (Mark Bristow)
26:20 – Mark Bristow’s Legacy And The Mali Situation
35:00 – China’s Ban On BHP And Iron Ore Trade Dynamics
42:20 – Grade Control
1:02:40 – Sweet Deal / Sour Deal


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