Tesla CEO Elon Musk has held a virtual meeting with Mongolian Prime Minister L. Oyun-Erdene to discuss potential investment opportunities in Mongolia’s resource-rich industry. Mongolia possesses reserves of rare earth metals and copper, which are crucial for the electric vehicle (EV) industry. The country is home to one of the world’s largest copper mines being developed by Rio Tinto. Tesla...
Industry News
South32 hires RBC to purchase Botswana copper
Australian mining company South32 has reportedly enlisted RBC Capital, a Canadian global investment bank, to oversee the acquisition of Botswana’s Khoemacau copper project, according to sources cited by the Financial Review. The project is owned and operated by Cupric Canyon Capital, a subsidiary of Global Natural Resource Investments (GNRI), and began production in 2021. Situated in northern Botswana, the Khoemacau...
Shanghai Futures Exchange Gets Okay for World’s First Alumina Futures With Physical Delivery
The Shanghai Futures Exchange has received regulatory approval to launch the world’s first alumina futures with physical delivery. “We will listen to the opinions and suggestions of all parties, rationally design contracts and trading rules, optimize the layout of delivery warehouses, and prudently promote the listing of alumina futures,” the SHFE said on June 2, after receiving approval from the...
Kazakhstan to Strengthen Cooperation with EU in Critical Raw Materials
Kazakhstan and the European Union have agreed to strengthen cooperation in critical raw materials on the sidelines of the 13th international congress Astana Mining & Metallurgy held on June 1-2, reported the Ministry of Industry and Infrastructure Development. Minister of Industry and Infrastructure Development Marat Karabayev and Vice President of the European Commission Maroš Šefčovič also discussed implementing the first...
Jamalco Alumina Refinery Owners Contemplate Incorporation To Attract Overseas Investment
Jamalco alumina refinery’s operating entities plan to incorporate before they begin seeking the capital needed for further growth. Such was the message coming from its leadership in an interview earlier this month. Jamalco’s Managing Director Austin Mooney said such a move would open the door to investments from abroad. “We are a non-incorporated joint venture, so we are not a...
NioCorp Developments Ltd. Spearheads Scandium Revolution: A New Chapter for Aluminum-Scandium Alloys
In a game-changing initiative set to revitalize the global scandium market, NioCorp Developments Ltd. (NB.T) has announced its intent to undertake commercial-scale production of aluminum-scandium (Al-Sc) master alloy in the United States. Marking a significant leap in the field of critical minerals, this initiative paves the way for unprecedented commercial and defence applications. NioCorp’s plans to produce over 100 tonnes...
Acquisition offer lapses. Hindustan Zinc’s bid to acquire Vedanta’s overseas mines falls through
HZL would have to come up with a fresh proposal if it wants to revive its acquisition plans. Hindustan Zinc’s bid to acquire Vedanta’s overseas zinc mines has fallen through. The country’s largest zinc miner would need to return to the drawing board, and come up with a fresh proposal if it plans to revive its acquisition plans, senior government...
Novelis accelerates aluminum automotive part innovation with introduction of roll forming development line
Novelis Inc., a leading sustainable aluminum solutions provider and the world leader in aluminum rolling and recycling, today announced the start up of its new roll forming development line. The new development line will help Novelis meet industry demand for a process that can produce large volumes of high-strength aluminum auto parts. Located at the company’s Automotive Customer Solution Center in...
China Refined Zinc Imports Soared In March
China imported 12,700 mt of refined zinc in March, up 170.37% on the month but down 40.09% on the year. The imports totalled 19,300 mt in the first three months of 2023, down 53.75% YoY, while total exports of refined zinc during the same period stood at 2,400 mt. This pointed to net imports of 16,900 mt. The top three...
Alumina exports to Russia surge as others avoid sale to Moscow
THE SURGE in India’s import of Russian crude oil has come under the spotlight, but a sharp pick-up in India-Russia trade in another commodity has largely been under the radar. India’s exports of aluminium oxide, or alumina, to Russia jumped to 2.58 lakh tonnes in April-February of financial year 2022-23 (FY23) from nil in the corresponding period of FY22, latest...