The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0734 GMT - London's miners open higher as oil prices ease. The gains come despite a small drop in gold prices as traders assess the inflation outlook. Miners are some of the world's largest consumers of diesel and higher prices increase the cost of mining and eat into margins. Oil is falling as diplomatic efforts to end the conflict in the Middle East step up, with President Trump set to meet Gulf leaders on the sidelines of the U.N. General Assembly in New York this week. Anglo American gains 2.1% while BHP's London shares are 1.5% higher. Rio Tinto's shares are up 1%. Copper miner Antofagasta rises 2.3%.(adam.whittaker@wsj.com)

0345 GMT - The start of legal proceedings against Kingsgate by its political risk insurers "is yet another legal/regulatory issue which has unfortunately accompanied the stock at times," says MA Moelis Australia. The announcement doesn't suggest there will be any impact on current operations at the Chatree mine in Thailand, it says. However, "headlines like this (regardless of materiality) will remind investors that there are incremental complications to this business and jurisdiction," says MA. It has a buy rating and a target price of 6.45 Australian dollars on the stock. Shares are down 5.2% at A$5.12. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0329 GMT - Supply disruptions are rippling through several commodity markets, and could lead to higher prices should demand hold firm, Jefferies says. In copper, severe storms in Chile have significantly affected mine production, says the bank. In thermal coal, a lack of rain in Indonesia is leading to less supply for the seaborne market, it says. "Meanwhile, the war in the Middle East is also impacting supply chains in the sector," Jefferies says. London Metal Exchange 3-month copper is up 0.1% at $14,535 a metric ton. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0318 GMT - Iron ore prices are higher in early Asian trading. Overall iron-ore shipments are continuing a seasonal upward trend, remaining at relatively high levels, according to Nanhua Futures analysts in a commentary. Ahead of the upcoming long holiday in China, steel mills are actively building up inventory, they note. The most-traded iron-ore contract on the Dalian Commodity Exchange is 0.1% higher at CNY722.0 a ton. (tracy.qu@wsj.com)

0235 GMT - Ramelius Resources' FY 2027 and 2028 production outlook is moderately below expectations, says Euroz Hartleys. However, that is offset by lower-than-expected operating costs "and an exceptional forward outlook in FY29 and FY30," the broker says. Rising free cash flow and falling capital expenditure should bolster capacity for additional dividends and share buybacks, says Euroz Hartleys. "We continue to be confident that RMS' superior cash flow outlook against its peers will result in a share price re-rate over FY27 as investors start to look toward future cashflows," it says. The broker keeps a buy recommendation and A$5.04/share price target. The stock is up 6.4% at A$3.81. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0228 GMT - Copper prices are higher in early Asia trade, supported by expectations of tightening supply and improving demand, Everbright Securities analysts write in a note. Domestic copper inventories remain low, while global copper mine supply remains constrained, they add. Spot treatment charges have also fallen to fresh lows, pointing to continued tightness in the concentrate market, they say. Investors are monitoring U.S. copper tariff policy and its potential impact on global trade flows, they add. The three-month LME copper contract is up 0.1% at $14,540.50 a ton.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

0221 GMT - MA Moelis Australia wonders whether FireFly Metals investors will have the patience and risk appetite to hold the stock when it is "already reflecting much of the intrinsic value of the business." MA says it has high conviction in the company's Green Bay copper-gold project, which it thinks will be comfortably funded. But it would "like to see significantly more upside between our price target and where the equity is trading as a reward for both the duration and complication of bringing Green Bay back to life," it says. MA has a hold rating and a A$1.80/share target on FireFly. Shares are down 5.4% at A$1.6975. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0137 GMT - Pantoro Gold's output rate puts it on track to produce 21,000-22,000 oz of gold in 1Q FY 2027, says MA Moelis Australia. That would be a marked improvement from the two quarters immediately preceding, when it produced roughly 17,000-18,000 oz each time, it says. As of Sept. 19, Pantoro produced 19,130 oz--in line with MA's forecast for the entire quarter. "Production so far suggests the company is trending well towards its guidance--albeit it remains early in the year," says MA. Pantoro has forecast FY 2027 gold output of 90,000-105,000 oz, and says only 40%-45% of annual output will happen in 1H. MA has a buy rating and target price of 3.65 Australian dollars a share on the miner. The stock is up 3.3% at A$2.86. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2359 GMT - Ramelius Resources' new FY 2030 production target is, at its midpoint, 12% above consensus, says RBC Capital Markets. The miner's FY 2030 all-in sustaining cost guidance, also at its midpoint, is 4% below consensus, the broker says. In the nearer term, Ramelius's FY27 production and AISC guidance are broadly in line with expectations, it says. RBC has a sector perform rating and 3.70 Australian dollar share target on Ramelius. The stock ended Friday at A$3.58. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2351 GMT - Australian stocks look set to resume their recent slide in early trade, adding to losses compiled across three consecutive weekly declines. ASX futures are down by almost 0.7% ahead of Monday's session, suggesting that the S&P/ASX 200 will extend the 3.8% decline recorded so far in September. Investors are waiting on next week's Reserve Bank meeting, which is expected to end with an interest-rate increase and hawkish commentary on the potential for further increases. Ahead of Monday's open, Perpetual rejected EQT AB's best and final takeover proposal, Ingenia rejected Warburg Pincus's improved offer, and Telix Pharmaceuticals agreed to buy isotope supplier ITM for up to US$2.35 billion. Resolute Mining downgraded its 2026 gold production and cost guidance on challenges in Mali.