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    SK Nexilis Seeks $740 Million Investment to Boost European Production Amid Financial Struggles

    SK Nexilis Seeks $740 Million Investment to Boost European Production Amid Financial Struggles

    In a strategic effort to enhance its production capabilities, SK Nexilis is aiming to attract an investment of 1 trillion won (approximately $740 million) to expand its facilities in Europe. This move comes as the company faces financial challenges and seeks to strengthen its position in the global copper foil market. According to the investment banking sector, SK Nexilis, a...

    Pan Asia Metals Identifies Promising Lithium Zone in Southern Thailand

    Pan Asia Metals Identifies Promising Lithium Zone in Southern Thailand

    Initial reports from soil and rock chip sampling at Pan Asia Metals’ KT East lithium prospect in southern Thailand have identified a highly-prospective zone rich in lepidolite pegmatites, extending approximately 1.5km in length and 500m in width. The KT prospect, located 35km north of Pan Asia’s RK and BT prospects, already shows a larger footprint than those two areas combined....

    IGO and Regis Resources Face South32 in Tropicana Gold Mine Royalty Dispute

    IGO and Regis Resources Face South32 in Tropicana Gold Mine Royalty Dispute

    Regis Resources has filed to join IGO in the legal action initiated by South32 over a $122 million royalty dispute stemming from the Tropicana gold mine proceeds. In February, South32 sued IGO in the Supreme Court of Western Australia, claiming it is owed royalties from the mine dating back to 2014. The Tropicana gold project, located 330 kilometers from Kalgoorlie,...

    Gold Prices Edge Up on COMEX Amid West Asia Geopolitical Tensions

    Gold Prices Edge Up on COMEX Amid West Asia Geopolitical Tensions

    Gold prices on the COMEX saw a slight increase today, driven by escalating geopolitical tensions in West Asia, which are prompting investors to seek protective assets. “Geopolitical concerns are escalating and will most likely be behind a new near-term bull unfolding soon,” Peter Cardillo of Spartan Capital Securities noted. However, the prospect of higher-than-expected inflation has delayed expectations for rate...

    Copper Prices Decline on LME Amid Weak Chinese Demand

    Copper Prices Decline on LME Amid Weak Chinese Demand

    Copper prices on the London Metal Exchange fell today due to weak demand from China, highlighted by recent economic data. “While supply-side shortfalls support prices, risks from weak demand, particularly in China, loom large,” noted analysts at StoneX Intelligence. Despite the weak demand, concerns over supply could support copper prices. Production at Anglo-American’s Los Bronces copper mine in Chile is...

    Stellantis to Partner with Vale and Huayou Cobalt for Nickel Production in Indonesia

    Stellantis to Partner with Vale and Huayou Cobalt for Nickel Production in Indonesia

    Stellantis, the world’s third-largest automaker, is entering discussions with Brazil’s Vale and China’s Huayou Cobalt to invest in a nickel production unit in Indonesia. Vale has announced plans to build three nickel production plants in the country, one in collaboration with Ford and another with Stellantis. This initiative aims to secure a stable supply of nickel, a crucial component for...

    Iluka Resources CEO Warns of Market Manipulation by China in Rare Earth Sector

    Iluka Resources CEO Warns of Market Manipulation by China in Rare Earth Sector

    An Australian mining executive has raised concerns over China’s influence on global rare earth prices, describing it as an “existential threat” to Western nations. Tom O’Leary, CEO of Iluka Resources, highlighted China’s control over the rare earths supply chain during a global mining conference in Japan. O’Leary argued that China’s dominance has led to market manipulation, citing significant price fluctuations...

    Hindustan Zinc Signs MoU with AEsir Technologies for Zinc Battery Supply

    Hindustan Zinc Signs MoU with AEsir Technologies for Zinc Battery Supply

    Hindustan Zinc Limited, an Indian zinc producer, has signed a memorandum of understanding with AEsir Technologies, a US-based company specializing in zinc battery technologies. This agreement makes Hindustan Zinc the preferred supplier of zinc for AEsir’s battery production. Zinc-based batteries, an emerging alternative in energy storage solutions, are known for delivering higher power at lower costs, with minimal maintenance and...

    Global Refined Copper Production and Consumption Rise in Early 2024

    Global Refined Copper Production and Consumption Rise in Early 2024

    The global production of refined copper increased by 5.5% year-on-year to 9.16 million tons from January to April 2024, while consumption rose by 4.2% to 8.86 million tons during the same period, according to a report released by the International Copper Study Group on Thursday. This resulted in an increase in the surplus of the red metal to 299,000 tons...

    Solar Tech and TOPAK International Launch Pakistan’s First Lithium-Ion Battery Manufacturing Plant

    Solar Tech and TOPAK International Launch Pakistan’s First Lithium-Ion Battery Manufacturing Plant

    Solar Tech, in collaboration with TOPAK International, inaugurated TOPAK PAKISTAN, marking the first manufacturing venture for lithium-ion batteries in Pakistan. This significant event heralds a new era in sustainable energy solutions for the country. The launch event was attended by notable figures including Mr. Peter Ko, CEO of TOPAK China; Mr. Shahid Awan, CEO of Solar Tech and TOPAK Pakistan;...

    Rusal to Implement Import Substitution Program for Automation Systems at Smelters

    Rusal to Implement Import Substitution Program for Automation Systems at Smelters

    Rusal has announced a comprehensive import substitution program for automation systems at its aluminum and alumina smelters, slated to run until 2031. This initiative aims to replace controller equipment and software, enhancing the capabilities of Russian manufacturers in process automation. Currently, the replacement of controller equipment and software is underway at six process sites, with projects at 20 more sites...

    Alcoa Continues Dividend Payments Despite Consecutive Annual Losses

    Alcoa Continues Dividend Payments Despite Consecutive Annual Losses

    Alcoa, the Pittsburgh-based multinational, spends approximately €67 million annually on dividends, even after recording losses for two consecutive years. The company, under the leadership of Chairman and CEO Bill Oplinger, has maintained its dividend payout at $0.40 per share, amounting to $72 million per year. Despite a significant turnaround in its financial performance, with net income dropping from €397 million...

    Pilbara Minerals Announces $800 Million Plan to Double Lithium Production

    Pilbara Minerals Announces $800 Million Plan to Double Lithium Production

    Pilbara Minerals, Australia’s largest independent lithium producer, announced plans on Friday to double its production capacity for lithium spodumene at the Pilgangoora operation in Western Australia. The A$1.2 billion ($799.2 million) investment aims to increase output to 1.9 million tonnes per year, pending a feasibility study’s results expected in late 2025. The expansion involves constructing a new flotation plant adjacent...

    Sienna Resources Acquires Stonesthrow Gold Project in Saskatchewan

    Sienna Resources Acquires Stonesthrow Gold Project in Saskatchewan

    Sienna Resources has announced the acquisition of the Stonesthrow Gold Project in Saskatchewan, a 13,300-acre property with potential for gold. This new project directly borders Ramp Metals Inc, which recently reported significant gold and silver mineralization, including 73.55 grams per tonne of gold and 19.50 grams per tonne of silver. Sienna’s management cautions that past results or discoveries on nearby...

    Alcoa Appoints New Head for Australian Operations Amid Key Acquisition

    Alcoa Appoints New Head for Australian Operations Amid Key Acquisition

    Alcoa Corporation has appointed BHP veteran Elsabe Muller as its new Australia president and vice president of operations. Starting in October, Muller will oversee Alcoa’s bauxite mining, alumina refining, and aluminium smelting activities in Western Australia and Victoria. Muller, currently BHP’s group HSE officer responsible for health, safety, security, and environmental practices, will succeed interim Australia president Tanya Simmonds. Her...

    Gold Prices Exhibit Volatility Amid Technical Patterns

    Gold Prices Exhibit Volatility Amid Technical Patterns

    Gold prices showed significant volatility during the Asian market session on Thursday, with spot gold briefly touching an intraday high of $2,339.04 per ounce before falling back to around $2,332 per ounce, with the intraday gain shrinking to approximately $4. According to FXStreet analyst Christian Borjon Valencia, the daily chart of gold indicates the presence of a head-and-shoulders pattern. The...