Getech has secured a contract with East Star Resources to locate porphyry copper deposits in Kazakhstan, an initiative under the BHP Xplor 2024 accelerator program. This partnership marks the first application of Getech’s Globe geoscience platform in the search for porphyry copper, following a recent joint venture agreement to explore for sedimentary copper in the...
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Zinc prices, currently at a one-year high on the London Metal Exchange (LME), are under threat from slow global economic growth and a surplus of supplies, according to industry analysts. Despite recent highs, the outlook for zinc demand remains subdued, particularly due to ongoing weakness in China’s property market and a general deceleration in global...
READ MOREAbu Dhabi’s International Holding Company (IHC), through its mining unit International Resources Holding (IRH), is making significant strides to establish a copper mining empire in Africa. IHC has reportedly offered over $1 billion for a 51% stake in Konkola Copper Mines, a key asset of Vedanta Resources in Zambia. This follows IRH’s acquisition of a...
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Alara Resources has announced the commissioning of its new copper concentrator plant at Al Wash-hi Majaza in Oman, a project managed through its majority-owned joint venture, Al Hadeetha Resources. The plant, with an annual capacity of 1 million tonnes, began operations by processing low-grade ore to produce copper concentrate. Initially, the plant produced low-grade copper...
READ MORECopper prices saw a decline in early Asian trading, with the LME 3-month copper contract falling 0.6% to $9,529.00 a tonne. Market analysts are closely watching China’s refined copper production data for March, expected to be released later in the day, which could influence trading dynamics. Additionally, recent production updates from BHP, which holds a...
READ MOREMining giant BHP has laid out a plan for a comprehensive review of its Nickel West operations, responding to the current subdued market for nickel. The reassessment, which has been in progress for some months, is part of the company’s broader strategy to determine the future path for its nickel assets, including the West Musgrave...
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Nonferrous metals saw prices climb in Thursday’s trading, buoyed by a retreating U.S. dollar as investors recalibrated their expectations for the country’s interest rates. The trend of the dollar distancing itself from recent highs is creating a more favorable environment for metal commodities priced in the greenback. Copper, a bellwether for economic health, witnessed a...
READ MOREChina, the leading global consumer of aluminium, has recorded a significant surge in its imports of the metal, as shown by recent customs data. The General Administration of Customs reported that March saw an 89.8% increase in imports compared to the previous year, with 380,000 metric tons of unwrought aluminium and related products entering the...
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In the first quarter of 2024, VSMPO-AVISMA reported a revenue increase of 13.4% year-on-year, reaching 24.045 billion rubles (approximately 264.495 million USD). The company’s financial performance data revealed in its RAS report did not include net profit figures for the period. The corporation’s total financial results for the first quarter saw a 34% decrease to...
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China has witnessed a substantial increase in unwrought aluminium and product imports, with a notable 89.8% rise to 380,000 metric tons in March, according to recent customs data. The first quarter saw imports reach 1.1 million tons, marking a significant 92.3% increase from the same period in the previous year. This data, released by the...
READ MOREAtico Mining has released its financial outcomes for the year ended December 31, 2023, highlighting a net loss of $5.8 million despite generating $7.4 million from its mining operations. The year’s financial results marked a downturn from previous periods, attributed to operational challenges and market conditions. The company’s El Roble mine produced 13.2 million pounds...
READ MOREAlcoa, a leading multinational in the aluminum industry, is projected to bounce back to profitability in 2024 following a significant loss in 2023. According to the consensus among 13 investment analysts, the Pittsburgh-based company is expected to end the year with a net profit of $54.2 million (approximately 51 million euros), marking a notable recovery...
READ MOREOsisko Metals Incorporated has released preliminary results from metallurgical and grindability testwork on the Gaspé Copper Project, located near Murdochville, Québec. The tests, which are part of the company’s ongoing exploration and development at the site, involved eighteen composite samples of mineralized drill core from the 2023 drilling program. Key findings from the testwork include...
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Rusal has reached out to the Russian government for emergency assistance following the imposition of US and UK sanctions that halt the import of Russian aluminum and other metals. The sanctions have created significant operational and financial challenges for the company. In a bid to mitigate these challenges, Rusal has proposed that the government purchase...
READ MORECopper prices soared to a 15-month high, surpassing $4.30 per pound due to increasing global supply concerns and a resurgence of risk appetite in European markets. This uptick in copper prices also coincided with significant market actions in response to geopolitical developments. The Chicago Mercantile Exchange (CME Group) recently announced the suspension of aluminium produced...
READ MORERusal, a leading global aluminum producer, has announced that the recent extension of sanctions by the US and the UK in the metals trading sector will not impact its operations. The company affirmed that its supply chain, access to the banking system, and product quality remain intact despite the new restrictions. On April 12, the...
READ MOREKazakhstan is positioning itself as a key player in the global supply of critical minerals, crucial for the energy transition and advancements in technologies such as artificial intelligence and electric vehicles. The country, enriched with an abundance of rare earth elements (REEs) and other critical materials, is increasingly being viewed as the potential “Saudi Arabia...
READ MOREIndustry analysts are forecasting a robust continuation of copper’s bull run for at least the next three years, driven by persistent global supply challenges coupled with soaring demand due to energy transitions and advancements in artificial intelligence technologies. This optimistic outlook is underpinned by the metal’s critical role in a range of technological applications, from...
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The Yahua Group, a Chinese investor mining lithium in Kamativi, Hwange District of Matabeleland North province, Zimbabwe, has infused over US$2 million into various community development projects, garnering praise from local leaders and the community. This investment coincides with the commissioning of the Kamativi Mining Company (KMC) Phase One Lithium Processing Plant by President Mnangagwa,...
READ MOREChina Non-ferrous Metals Corporation (CNMC) has initiated the de-watering process for mine shaft 28 at Luanshya Copper Mines in an ambitious bid to revive the shaft that has been inactive and flooded for over two decades. This project involves a substantial investment of USD 500 million, aimed at restoring the shaft to full operational status...
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Denarius Metals has announced the results of a Pre-Feasibility Study (PFS) for the Aguablanca Nickel-Copper Project in Spain, signaling the project’s viability and the company’s readiness to restart operations. Located within the Monesterio municipality, Extremadura, and approximately 88 km southwest from Denarius’s Lomero Project, Aguablanca stands as a significant development in Spain’s mining sector, capable...
READ MOREAsante Gold, based in Canada, is set to enter the bidding process for the Akyem mine currently owned by Newmont, a US-based mining company. This development comes amidst a backdrop of soaring gold prices, which have recently surpassed $2,200 an ounce. Newmont, known for its gold mine developments in Ghana, is organizing the sale of...
READ MOREBloomberg Intelligence reports that BHP, an Australian mining giant, is on track to dethrone Chile’s state-owned Codelco as the world’s leading copper producer. This shift is anticipated to occur this year, with BHP’s copper production projected to reach about 1.44 million tons, surpassing Codelco’s expected output of 1.41 million tons. This significant production increase for...
READ MOREVedanta Aluminium, standing as India’s leading aluminium producer, has taken a significant stride in its expansion journey by commissioning a new 1.5 million tonnes per annum (mtpa) unit at its Lanjigarh refinery located in Odisha. This development elevates the refinery’s annual capacity to 3.5 mtpa. This augmentation is part of Vedanta Aluminium’s broader strategy to...
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