In Asian morning trading, spot gold prices continued their short-term decline, dipping below $2330 per ounce. According to FXStreet analyst Christian Borjon Valencia, the technical trend of gold suggests further potential drops. On Monday, gold prices rose due to a pullback in the U.S. dollar, with investors anticipating the release of U.S. Personal Consumption Expenditures (PCE) inflation data later this...
Joshua Herring
Heraeus Acquires Canadian Recycling Company McCol Metals to Boost Precious Metals Expertise
Heraeus has announced the acquisition of McCol Metals, a Canadian company specializing in the recovery of iridium from spent mixed metal oxide electrodes. The acquisition aims to enhance Heraeus’ capabilities in precious metals recycling. McCol Metals, based in St. John’s, Newfoundland and Labrador, will now operate under Heraeus Precious Metals, the precious metals division of the Heraeus Group. The acquisition...
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...
Weekly Metals News Digest – June 17-21
Norway’s Potential Entry into the Rare Earths Market Fen Deposit Development by Rare Earths Norway (REN) Norway could become a significant producer of rare earth metals through a project led by Rare Earths Norway (REN) to develop the large Fen deposit. Fen, an ancient volcano with magma rich in carbonates, contains substantial rare earth elements. Historically, iron ore was mined...
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...
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 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...
Slovakia Signs €1.233 Billion Investment Contract for EV Battery Plant with InoBat and Gotion Group
Slovakia has inked an investment deal worth €1.233 billion with the consortium of companies InoBat and Gotion Group for the construction of an electric vehicle battery production plant. Economy Minister Denisa Sakova announced the agreement at a news conference on Thursday. The new facility, operated by GIB EnergyX Slovakia in Surany, Nitra region, will receive €214 million in state investment...
Global Platinum Market Projected to Grow by USD 1.75 Billion by 2028
The global platinum market is projected to expand by USD 1.75 billion from 2024 to 2028, growing at a compound annual growth rate (CAGR) of 4.36%, according to Technavio. The rising demand for platinum across various industries, particularly in the automotive sector, is a significant driver of this growth. Platinum is a critical metal primarily used in automotive exhaust systems...
Elemental Opens Metal Recovery Plant in Zawiercie
Elemental Strategic Metals, part of the recycling group Elemental, has inaugurated a new plant in Zawiercie, Poland, dedicated to recovering strategic industrial and precious metals from Li-Ion batteries of electric vehicles and from automotive and industrial catalysts. The project, valued at PLN 600 million (EUR 138.6 million), marks a significant step in enhancing the recycling and reuse of critical materials....