China’s economic slowdown and declining sales of electric cars are driving short-term adjustments in copper demand and price expectations. After reaching $5.20 per pound on the Comex in May, copper prices fell back to the $4.20-$4.30 range, similar to the levels seen at the start of the year. As China consumes 55% of the world’s...
READ MOREArrow Minerals has announced significant progress in its drilling program at the Niagara bauxite project in Guinea, currently ahead of schedule. The Australian-based company has completed 86 out of a planned 150 drill holes, with the drilling phase now expected to conclude in late November 2024, earlier than initially projected. The first set of results...
READ MOREA critical minerals agreement with the United States could help reduce the Philippines’ dependence on Chinese and Indonesian exports and enable the country to focus on producing nickel suitable for battery use, according to Nickel Asia Corp. President and CEO Martin Antonio G. Zamora. Speaking at the Pilipinas Conference 2024, Zamora explained that China, the...
READ MOREJérôme Baudelet, CEO of nickel producer Eramet Indonesia, predicts that Indonesia will become the world’s largest nickel producer in the next decade, thanks to significant increases in production volumes. In 2023, Indonesia supplied 55% of the world’s total nickel production, highlighting the country’s growing influence on the global nickel market. Baudelet expects that by 2034,...
READ MORECopper processing costs are on a downward trend, potentially reaching their lowest level in 15 years by 2025. This decline is driven by a combination of disruptions at mining operations and an increase in smelting capacity, primarily in China. The reduction in Treatment and Refining Charges (TC/RCs) for copper is expected to put significant pressure...
READ MOREZhejiang Huayou Cobalt, among the largest nickel producers globally, is in discussions with banks for $2.7 billion in financing for its Ford-backed battery-grade nickel project in Indonesia, sources familiar with the matter have indicated. The project aims to boost nickel production for electric vehicles. HSBC and Standard Chartered are arranging the loan and inviting additional...
READ MOREBarrick Gold made significant strides in the third quarter of the year, despite ongoing challenges, ensuring that its annual production and cost targets remain within reach due to an anticipated strong performance in the fourth quarter. Gold production remained steady compared to the previous quarter, while copper production saw a 12% increase quarter-on-quarter. The company...
READ MOREChina Zinc Smelters Purchasing Team (CZSPT) has established new processing fees for domestic zinc concentrate for the first quarter of 2025, ranging between 2,000 and 2,500 yuan per metric ton (approximately $281.57 to $352 USD), according to a statement from state-backed research firm Antaike on Tuesday. The fees for imported zinc concentrate have also been...
READ MOREPoland-based aluminum producer Alumetal has finalized an Environmental Product Declaration (EPD) that documents the environmental impact of its recycled foundry alloy aluminum products. The EPD, based on an independent third-party assessment, offers detailed transparency regarding the mix of scrap qualities used in production at Alumetal’s plants. Alumetal, acquired by Norway’s Norsk Hydro ASA last year,...
READ MOREFor every tonne of copper used in renewable energy systems, carbon emissions are reduced by between 100 and 7,500 tonnes over the system’s lifecycle, according to the International Copper Association (ICA). As India transitions to renewable energy, copper has emerged as a key material in the generation, transmission, and storage of clean energy, thanks to...
READ MORESouth Korean battery materials producer L&F Company announced plans to begin production of nickel-cobalt-manganese (NCM) cathodes for battery electric vehicles (BEVs) by the end of 2024. The new cathodes will feature 95% nickel content, the highest used so far in BEV battery cathodes. The company made the announcement during its third-quarter earnings presentation, revealing a...
READ MORENornickel released its production results for the first nine months and the third quarter of 2024, showing mixed trends across different metals. From January to September 2024, nickel production rose by 0.3%, reaching 146.2 thousand tons, while copper output increased significantly by 7%, totaling 326.1 thousand tons. Palladium production also saw a slight increase of 1%, totaling...
READ MOREChina has strengthened its dominance over critical minerals essential for high-tech and renewable energy industries amid escalating geopolitical competition. Western nations are striving to regain market share, while countries in the Global South seek to capitalize on rising demand. In 2023, Chinese companies invested $16 billion in foreign mines—the highest level in a decade, up...
READ MORECapstone Copper reported strong production results for the third quarter of 2024, producing 47,460 tonnes of copper, largely driven by its operations in Chile. The Mantoverde Development Project reached commercial production in September, delivering two shipments of copper concentrate. The project capital remained on budget at $870 million. Copper production during Q3 included 17,481 tonnes...
READ MOREJinchuan Group announced that its mining business produced 47,183 tonnes of copper during the first nine months of 2024, marking a year-on-year decrease of approximately 2%. The decline was attributed to an unstable power supply from the Democratic Republic of Congo’s national power grid during this period. Copper sales also dropped to 41,368 tonnes, representing...
READ MOREVancouver-based Kodiak Copper has decided to delay the release of its initial resource estimate for the MPD copper-gold project in British Columbia to achieve a more substantial outcome. According to Chairman Chris Taylor, the company is focusing on systematically drilling and building a resource base that fully reflects the project’s potential rather than rushing to...
READ MOREEuro Sun Mining has signed a binding Memorandum of Understanding (MOU) with Glencore International, granting the multinational mining company the right of first refusal for future concentrate from Euro Sun’s Rovina Valley Project in Romania. This agreement also gives Glencore the right to nominate a director to Euro Sun’s board. The Rovina Valley Project, one...
READ MOREStardust Power, an American company focused on developing battery-grade lithium products, has announced its collaboration with MUFG Bank to support the development of a major lithium refining facility in Muskogee, Oklahoma. The facility is set to become one of the largest of its kind in the United States, aiming to produce up to 25,000 metric...
READ MOREUK Export Finance (UKEF) will now provide financial backing for overseas projects that source critical minerals essential to major UK industries, such as automotive, defence, and aerospace. This move aims to secure long-term access to materials like lithium, graphite, and cobalt, which are increasingly vital for emerging technologies, renewable energy, and the transition to net...
READ MOREGlencore has reiterated its full-year 2024 guidance, projecting Marketing Adjusted EBIT in the range of $3.0 billion to $3.5 billion, which remains around the top end of the company’s long-term guidance of $2.2 billion to $3.2 billion per year. Despite some production declines, the company remains confident in maintaining its projections for the year. Year-to-date...
READ MORECanadian Copper announced on October 28 that it has signed a term sheet and exclusivity agreement to acquire the Caribou processing plant complex from the New Brunswick government for $6.2 million. The company has already made a deposit of $225,000, with the deal expected to close on July 11, 2025. According to Canadian Copper, this...
READ MORESaudi Arabia has intensified its push into the global mining sector by establishing Manara Minerals, a company dedicated to investing in mines worldwide. Following its acquisition of a 10% stake in a subsidiary of Brazil’s Vale Group in 2023, Manara Minerals is now targeting the copper mines controlled by Canada’s First Quantum in Zambia. On...
READ MOREBHP, the world’s largest mining company, has shifted its focus to other growth opportunities after its unsuccessful attempt to acquire Anglo American earlier this year, Chairman Ken MacKenzie said on Wednesday. The company walked away from a \$49 billion bid in May after being rebuffed three times by Anglo American. The end of a six-month...
READ MOREAustralian startup Green Gravity has initiated studies to develop a 2GWh gravitational energy storage project in Northwest Queensland. Located in Mount Isa in the Gulf Country region, the project will be developed in partnership with Mount Isa City Council and global mining company Glencore, with a focus on regional studies, mine site concept engineering, and...
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