The Aluminium Association of India (AAI), the apex body representing the leading aluminium producers in India, has submitted a pre-budget representation to the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce. The submission emphasizes aluminium’s crucial role in India’s economic growth, particularly as the nation aims to achieve the...
READ MORESouth African mining giant Anglo American continues to reorganize its copper mining activities across South America. One of the two copper mines at the Los Bronces complex in Chile has been temporarily closed for maintenance, as announced in late July 2024. The smaller Los Bronces mine, which contributes about 40% of the complex’s total capacity,...
READ MOREIn Liebenau, representatives from the State Directorate, the Saxon Mining Authority, and Zinnwald Lithium GmbH (ZL) recently addressed questions from local citizens about the planned lithium mining in the region. Liebenau is one of two possible locations for the planned processing plant of Zinnwald Lithium GmbH, with the other being Bärenstein. ZL is currently working...
READ MOREBlackRock, the world’s largest investment fund manager, has increased its stake in Alcoa, just as the Pittsburgh-based multinational records two consecutive profitable quarters. According to Bloomberg, BlackRock closed September as Alcoa’s largest shareholder, with a 9.76% stake after purchasing an additional 3.6 million shares. The firm, headed by Larry Fink, now controls a total of...
READ MOREThe speed at which Anglo American shifts towards becoming a copper-focused miner could ultimately decide its future—either continuing as an independent company or being absorbed by a larger rival, such as BHP Group. Earlier this year, BHP attempted but failed to acquire Anglo, walking away from a \$49 billion bid in May after being rebuffed...
READ MORETeck Resources has reported a $748 million loss from continuing operations attributable to shareholders in the third quarter, primarily due to a one-time asset impairment charge related to its Trail operations. The Vancouver-based mining company recorded a loss of $1.45 per diluted share, a significant increase compared to the loss of $48 million, or nine...
READ MOREOn Tuesday, October 22, spot silver prices surged by over 3%, reaching a new 12-year high. Silver hit $34.86 per ounce during the session, closing at $34.847 per ounce, the highest price recorded since late 2012. This price increase comes amid broader risk aversion in global markets, even as US Treasury yields continue to rise....
READ MOREKoBold Metals has invested approximately $200 million in its Mingomba project in Chingola, Zambia, with production expected to begin in 2031. The project aims to utilize artificial intelligence (AI) technologies to produce over 300,000 tonnes of copper annually, contributing to Zambia’s national target of 3 million tonnes per year. CEO Mfikeyi Makayi highlighted that KoBold...
READ MOREMining and transport conglomerate Grupo Mexico has reported a 17.55% increase in net profit for the third quarter, driven by rising copper prices and higher production levels. The company’s net profit reached \$820.1 million, which was below analysts’ expectations of \$935.65 million, according to a poll conducted by LSEG. Grupo Mexico, controlled by billionaire German...
READ MORESkapa Recycling has partnered with technology firm REDWAVE to enhance aluminium recycling at its Eastern Austria facility. By utilizing advanced sorting technology, the partnership aims to maximize recycling efficiency and reduce environmental impact, addressing the increasing global need for sustainable resource management. Aluminium is unique in that it can be recycled indefinitely without losing quality....
READ MORECopper products manufacturer Wieland Group has commissioned a solar park in Erbach, southern Germany, which will generate 29 GWh of renewable electricity annually. The company announced on Monday that it has invested nearly EUR 20 million ($21.7 million USD) in the project, which includes the installation of approximately 48,000 solar modules, 82 inverters, 14 transformer...
READ MOREIndonesia plans to begin exporting nickel-based materials for electric car batteries to the United States in November, marking a significant step in the country’s expanding role in the global electric vehicle (EV) supply chain. Energy Minister Bahlil Lahadalia announced that these precursor materials for battery production would be supplied to Tesla, although details on the...
READ MOREBase metal prices gained momentum on Monday, with the London Metal Exchange (LME) three-month copper price rising by 0.7% to $9,627.50 per metric ton. Aluminum also experienced an increase, with the LME three-month aluminum price climbing 1.7% to $2,638.50 per ton. According to analysts at Commerzbank, Chinese copper demand during the first eight months of...
READ MOREKonkola Copper Mines (KCM) has announced a temporary shutdown of several operations following the second fatality in less than a week. In response to these incidents, KCM will conduct stand-downs across its mining and processing plants in Chingola, Chililabombwe, Nampundwe, and Kitwe for specified periods. These shutdowns are intended to facilitate thorough reviews of safety...
READ MOREPasinex Resources is moving forward with plans to expanding its operations in Türkiye with a new agreement that could see it acquire a major lead-zinc mining license. The Canadian company, through its local subsidiary Pasinex Arama, signed an Option and Purchase Agreement with Aydin Teknik, a local Turkish firm, for the Sarikaya property—a lead-zinc site...
READ MOREHuatai Securities has released a research report suggesting that Zijin Mining remains on course to achieve its annual production targets of 1.11 million tons of mined copper and 73.5 tons of gold, supported by quarter-on-quarter growth in copper and gold production during the third quarter of 2024. Zijin Mining also announced plans to acquire 100%...
READ MORESociété du Terril de Lubumbashi (STL), a 100% subsidiary of Générale des carrières et des mines (Gecamines), is set to export the first shipment of germanium concentrate processed entirely within the Democratic Republic of Congo. This milestone marks the first time germanium from the slag at the Lubumbashi Terril has been locally processed and exported,...
READ MOREVedanta-owned Hindustan Zinc reported a 35% increase in net profit for the July-September period, reaching ₹2,327 crore (approximately $280 million). This result exceeded the ₹2,256 crore ($272 million) predicted by a CNBC-TV18 poll, despite an exceptional loss of ₹83 crore ($10 million) during the quarter. The company’s revenue for the quarter rose by 22% year-on-year...
READ MOREMining major Vedanta Ltd announced on October 18 plans to invest ₹1 lakh crore (approximately $12 billion) in Odisha, marking the largest investment ever in the eastern state and creating 200,000 new jobs. The investment will be directed towards establishing a 6-million-ton-per-annum alumina refinery and a 3-million-ton aluminum plant, with a focus on producing green...
READ MOREThe Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
READ MOREGreenX Metals has released its Quarterly Activities Report for the period ending September 30, 2024, providing updates on a significant arbitration award, the Tannenberg Copper Project, and the Eleonore North Gold Project. GreenX reported a major win in international arbitration against the Republic of Poland under both the Australia-Poland Bilateral Investment Treaty (BIT) and the...
READ MORENickel ore producer Global Ferronickel Holdings (FNI) is in discussions with two foreign companies, one from Asia and the other from Europe, to set up a nickel processing facility in the Philippines, according to FNI President Dante R. Bravo. The talks were disclosed on the sidelines of a mining forum on Thursday. FNI operates nickel...
READ MOREAlcoa Corporation and Ignis Equity Holdings, the majority shareholder of Ignis Business Group, a vertically integrated energy company, announced that they are moving toward signing a strategic cooperation agreement to support the continued operations of Alcoa’s San Cibrao plant. Under the proposed agreement, Alcoa would provide €75 million, while Ignis would make an initial investment...
READ MOREEramet, the mining group, announced that it will not meet its 2024 manganese and nickel production targets. This news caused a sharp decline in the company’s stock price, which fell by 14% on Wednesday, October 16, reaching €56.7 and making it the biggest decliner in the SBF 120 index. Eramet revised its manganese production forecast...
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