Umicore, the Belgian powerhouse in recycling and smelting, has struck a significant financial deal with the European Investment Bank (EIB), securing a loan of 350 million euros (approximately 56 billion yen) with an eight-year term. This strategic financial infusion is earmarked for advancing research and development in electric vehicle (EV) battery material technology and enhancing...
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This week, investors are on high alert for insights from Australia’s mining giants regarding the Chinese economy’s recovery post-Lunar New Year break. Eyes are particularly on BHP, Rio Tinto, and Fortescue Metals, who are all scheduled to release their half-year results consecutively from Tuesday to Thursday. Starting the year on a high note, their share...
READ MOREIn a significant move towards bolstering Kazakhstan’s lithium industry, a consortium comprising German firms Knauf Gruppe, GP Gunter Papenburg AG, Roxtec, and the German Institute of Lithium (ITEL) has been established to develop and produce lithium from deposits within the country. This collaboration was announced by the Ministry of Industry and Construction of Kazakhstan, signaling...
READ MOREThe Xunta de Galicia is nearing the completion of the processing for two additional wind farms, adding to a series of renewable energy projects aimed at supplying power to the Alcoa industrial complex in A Mariña, Lugo. This update comes after the authorization of construction permits for a dozen wind farms intended to energize the...
READ MOREThe mining industry is gearing up for a bustling year of collective bargaining in 2024, with 42 negotiation processes involving over 20,000 workers, accounting for 36% of the sector’s unionized workforce. This insight comes from the 5th report on Collective Negotiations in the Mining Industry 2024 by the Research Department of Vantaz Group, under the...
READ MOREThe Supreme Court of India proposed the formation of an expert committee to assess the feasibility of reopening Vedanta’s Sterlite copper plant in Thoothukudi, Tamil Nadu. This decision emerged during the court’s deliberation on a plea by the Tamil Nadu government, advocating for the permanent closure of the plant, which, according to the Tamil Nadu...
READ MOREBHP, the global mining behemoth, disclosed a substantial $2.3 billion depreciation on its Australian nickel assets, attributing the decision to a significant downturn in nickel prices exacerbated by an influx of low-cost exports from Indonesia. The company’s move, detailed in a statement to the Australian Stock Exchange, underscores the volatile nature of the nickel market,...
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Norsk Hydro, a key player in the aluminium industry, reported an adjusted EBITDA of $351.08 million for the fourth quarter of 2023, a decrease from $675.10 million in the same period the previous year. The company’s full-year 2023 adjusted EBITDA stood at $2.09 billion, down from $3.73 billion in 2022. Factors such as lower sales...
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A catastrophic event unfolded at the Çöpler gold mine in Erzincan’s İliç district, operated by SSR Mining, as a massive landslide occurred, reportedly involving the collapse of cyanide and sulfuric acid heaps. The incident, captured in a video shared on social media platform X, highlights the severity of the disaster, with numerous workers feared to...
READ MOREBelgorod State National Research University (BelSU) has developed a new technology that aims to enhance the production process of high-quality aluminium alloys, striving towards improving efficiency and quality for critical sectors like aerospace and shipbuilding. The method innovated by BelSU researchers involves the dissolution of refractory metals into superheated aluminium melts. This process incorporates the...
READ MOREValor Resources is strategically positioning itself within the burgeoning lithium market by securing rights to the Frazer Lake lithium project in Ontario, Canada. This 83-square-kilometre project, soon to be part of the entity known as Thunderbird Resources, has already shown promising results with pegmatite sampling revealing significant lithium oxide concentrations. Located in the Thunder Bay...
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Vale Indonesia has reported significant growth in its nickel matte production and sales volumes over the last year, highlighting a remarkable performance despite numerous challenges. In 2023, INCO produced 70,728 metric tons of nickel in matte, marking an 18% increase from the 60,090 tons produced in 2022. Febriany Eddy, CEO and President Director of Vale...
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Glencore revealed plans on Monday to divest its interest in Koniambo Nickel SAS (KNS) in New Caledonia, alongside a decision to suspend operations at KNS’s processing plant for six months as it seeks a new investor for the operation currently incurring losses. Amid efforts to rejuvenate New Caledonia’s faltering nickel industry, France has proposed state...
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India is on track for another year of strong copper demand, following a 16% increase in FY23. According to Mayur Karmarkar, Managing Director of the International Copper Association India (ICA), the country’s copper demand is expected to see double-digit growth in FY24, significantly outpacing the global growth forecast of around 3%. This surge is fueled...
READ MOREThe Russian tin industry, once a global leader during the Soviet era, has seen its production dwindle over the past decades. However, recent developments suggest a potential revival, with significant growth observed compared to the low output of the 2010s. PJSC Rusolovo, the primary industry player, projects the country’s tin concentrate production in 2023 to...
READ MOREIn a significant breakthrough, Russian theoretical chemists have discovered a new class of materials that could serve as an economical foundation for metal-ion batteries. These innovative batteries utilize magnesium, zinc, aluminium, and other non-alkaline metal ions for energy storage. This development, supported by the Russian Science Foundation (RNF), offers a promising avenue for reducing battery...
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Rusal, a leading aluminium producer, has marked a significant uptick in its export volumes, reporting a 30% increase in January 2024, with shipments reaching 237,000 tonnes. This data, gleaned from Russian Railways and analyzed by Interfax, underscores Rusal’s growing footprint in the global aluminium market. The report further details that Rusal’s total aluminium transportation, including...
READ MOREThe Lobito Atlantic Railway Corridor, a strategic rail line connecting crucial African mines to the Atlantic port of Lobito in Angola, is set for a significant boost with a $250 million investment from the Biden administration aimed at its revitalization. This century-old railway is also part of a broader initiative, including a study to extend...
READ MORECanada Nickel has initiated a virtual open house for its Crawford Nickel Project, running from January 31st to February 22nd, 2024, to engage the public and gather feedback. This event is part of the company’s ongoing provincial and federal impact assessments for the proposed nickel mine and processing facility located 42 km north of Timmins,...
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Ucore Rare Metals, situated in Kingston, has been awarded over $4.2 million from the federal government’s Critical Minerals Research, Development and Demonstration fund. This funding is set to expedite the company’s operations in processing rare earth minerals, which are crucial for the production of electric vehicle batteries, wind turbines, and other green technologies. Mike Schrider,...
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Societe Miniere de Boke (SMB), Guinea’s foremost bauxite producer and exporter, has unveiled plans to invest up to $1 billion in the coming five years to enhance its river terminals and acquire additional vessels. This move is aimed at significantly increasing its export capacity, which reached a record high in 2023. Frederic Bouzigues, SMB’s CEO,...
READ MOREAlara Resources has announced the start of hot commissioning activities at the Al Hadeetha Resources’ copper-concentrator plant, with a capacity of 1 MTPA, located at Al Wash-hi Majaza in Oman. Alara holds a 51% interest in the joint venture company operating in Oman. The commissioning process began with the introduction of crushed waste rocks into...
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Cobre has secured a notable advancement in its exploration endeavors for copper-silver deposits in Botswana, having been selected to participate in the 2024 BHP Xplor Program. This initiative, a first of its kind by BHP, is aimed at discovering critical mineral deposits by combining the expertise of BHP professionals, thought leaders, and innovative explorers. The...
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Zambia has reached an agreement to restructure the $1.5 billion debt linked to Mopani Copper Mines, initially incurred through the acquisition of the mine from Glencore in 2021. This development comes as ZCCM-Investment Holdings (ZCCM-IH), Zambia’s state-owned mining entity, selected the United Arab Emirates’ International Resources Holdings (IRH) as Mopani’s strategic equity investor last November....
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