State-owned China Minmetals plans to create a 10 billion yuan ($1.41 billion) mining company in partnership with local firms in Qinghai, a lithium-rich province in northwestern China. The new entity, provisionally named China Salt Lake Industry Group, aims to develop a world-class production hub while bolstering national security around potassium and lithium resources. Lithium, crucial for electric vehicle batteries and...
Joshua Herring
Canada Nickel Eyes $500M Loan for World’s Largest Nickel-Cobalt Sulphide Project
Canada Nickel has announced that Export Development Canada (EDC) may provide a $500 million loan for its Crawford project in northern Ontario, which is poised to become the world’s largest nickel-cobalt sulphide development. This potential funding, combined with $600 million in tax credits from the Canadian government, would support the construction of the C$3.5 billion project, set to proceed in...
Copper Demand for Electric Vehicles by 2050 Poses Major Global Challenge, Says Study
The International Energy Forum (IEF) has highlighted a critical challenge for the future of electric vehicle (EV) manufacturing: the world’s copper production is far from sufficient to meet the projected demand for a full EV rollout by 2050. According to research led by Dr. Lawrence Cathles from Cornell University and Dr. Adam Simon from the University of Michigan, global copper...
Boliden Seeks Strategic Status for Finland’s Kevitsa Mine Under EU’s Critical Raw Materials Act
Boliden has applied to have its Kevitsa mine in Finland designated as a strategic project under the European Union’s Critical Raw Materials Act (CRMA), as announced on the company’s LinkedIn page and highlighted by Metal Supply. The Kevitsa mine contains 14 of the 17 raw materials that the EU has classified as essential for industries involved in the green transition....
BMI Predicts Growing Tin Shortage and Price Surge by 2032
BMI, a division of Fitch Solutions, has revised its forecast for the global tin market, projecting an escalating shortage and further price increases in the coming years. Tin prices, which averaged $18,730 per ton between 2016 and 2020, have surged to over $32,000 per ton, driven by a supply deficit. The tin market has been severely affected by disruptions in...
Ducab Metals Doubles Aluminium Output to Meet Global Demand
Ducab Metals Business (DMB), part of the Ducab Group, has announced the doubling of its aluminium production capacity from 55,000 to 110,000 tonnes per year. The company has also expanded its copper production capabilities, responding to rising global demand for its UAE-manufactured products. This expansion supports the UAE’s industrial growth plan, Operation 300bn, which aims to diversify the economy and...
Chinese Firms Plan Copper Projects in Uzbekistan’s Namangan Region
China’s Boi Yi Da company is planning to construct a copper processing plant in Uzbekistan’s Namangan region, with the project expected to unfold in two stages. The first stage alone is estimated to require an investment of around $40 million. Once operational, the plant’s output will be entirely sold for export. Simultaneously, China Mining Energy Group is set to invest...
BHP’s Olympic Dam Expansion Set to Boost Australia’s Role in Global Copper Supply
BHP Group’s decision to expand its smelter and refinery at the Olympic Dam operation in South Australia aims to position the country as a key player in the global copper supply chain, particularly outside of China. The expansion, announced on August 30, could raise Olympic Dam’s refined copper cathode output to 500,000 metric tons annually by the early 2030s, with...
Kodal Minerals Set to Become London’s First Lithium Producer in West Africa by Late 2024
Kodal Minerals has announced that it is on track to become the first company listed on the London Stock Exchange to produce lithium in West Africa. The company’s Bougouni Lithium Project in Mali is expected to begin production by the fourth quarter of 2024, marking a significant milestone for both the company and the region. The project’s development has been...
Gold Prices Edge Lower Ahead of U.S. Economic Data Release
In Asian trading on Tuesday, spot gold prices continued their downward trend, hovering around $2,495 per ounce. Investors are bracing for the release of key U.S. economic data, including the ISM Manufacturing Purchasing Managers’ Index (PMI), which is expected to impact the gold market. On Monday, spot gold closed down 0.14%, settling at $2,499.58 per ounce after trading between $2,489.86...