Minmetals Resources announced a 34% year-on-year increase in revenues for 2023, totaling $4.346 billion, despite a 95% decline in profit attributable to shareholders, which stood at $9 million. The company produced 347,000 tons of copper and 203,000 tons of zinc during the year. A notable development was the acquisition agreement for the Homakau mine, marking...
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Savannah Resources, overseeing the development of Europe’s largest spodumene lithium deposit in Portugal, has announced unprecedented lithium intercepts from its Barroso Lithium Project. The latest drilling results from the first phase of the current two-stage program have unveiled a new high-grade zone of spodumene lithium mineralization within the Pinheiro deposit. The Pinheiro deposit, set to...
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The US Department of Commerce has taken a significant step towards addressing concerns over unfair trade practices by imposing preliminary countervailing duties on aluminium profiles imported from China, Indonesia, Mexico, and Turkey. These measures aim to counteract what the Department identifies as “illegal” export subsidies provided by these countries to their aluminium industries. The preliminary...
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The French government has stepped in to provide critical financial support to the struggling nickel industry in New Caledonia, a move that underscores the significant challenges facing this key economic sector. In a recent agreement with mining giant Eramet, France has decided to convert €320 million of previous loans into “quasi-equities” to alleviate the debt...
READ MOREIn a sign of recovering economic activity, China reported a 2.6% increase in its unwrought copper imports during January and February of 2024, as compared to the same period in the previous year. This uptick, as detailed by the General Administration of Customs, reflects an improvement in domestic demand for the metal, with the total...
READ MOREAmidst growing calls for environmentally sustainable practices within the mining sector, the London Metal Exchange (LME) and Metalshub, an online trading platform, are addressing market demand for “green” nickel, essential for electric vehicle batteries and other green technologies. Despite the LME’s reservation about launching a separate contract for green nickel due to current market limitations,...
READ MOREIn an exciting development for the high-tech sectors of Russian industry, the Lovozersky Mining and Processing Plant (Lovozersky GOK) has unveiled plans to significantly expand its mining operations in the Murmansk region. This ambitious initiative will ensure a steady supply of the rare-earth raw material, loparite ore, for an additional 80 years, securing critical resources...
READ MOREKumtor Gold, based in Kyrgyzstan, has announced an exceptional performance for the year 2023, with gold production totaling 15.567 tons. The company managed to sell 15.577 tons of gold, generating substantial revenue of $849 million, significantly higher than the anticipated $734.2 million. This success translated into a net profit of $302.4 million for the company,...
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Pacific Bay Minerals, a Vancouver-based mineral exploration company, has announced the acquisition of the Sphinx Mountain Rare Earth Elements Project located in Northern British Columbia, about 50 kilometers northeast of Dease Lake. The property, previously under Pacific Bay’s ownership, was subject to a 2011 work program that built upon high stream sediment sample data from...
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Estonia has officially joined the ranks of the Mineral Security Partnership (MSP), bolstering its role in the global supply chain of critical raw materials. Ene Jurjens, head of the mineral resources department at the Ministry of Climate, highlighted Estonia’s expertise in processing rare earth metals as a strategic advantage. The country aims to foster information...
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Chilean mining giant SQM, in partnership with Hancock through their joint venture, SH Mining, is poised to acquire all shares of Azure Minerals. This strategic move follows approval from the Australian competition authority, signaling a green light for the operation. The board of Azure Minerals has unanimously endorsed the proposed transaction, contingent upon no superior...
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The gold sector witnessed a significant uptick as Barrick Gold, the world’s second-largest gold producer, saw its shares climb by 3.5% following a jump in gold prices to a record high. This movement comes amidst a broader surge in mining shares, positioning Barrick Gold for further growth if its shares surpass the $16 mark, signaling...
READ MOREIn December 2023, the United States witnessed a significant uptick in zinc mine production, underscoring a robust month for the sector amidst a year of stable output levels. According to recent data, the total recoverable zinc mine production for 2023 remained steady at 753,000 metric tons, mirroring figures from 2022. However, December stood out with...
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Aneka Tambang (ANTAM), a prominent player in Indonesia’s mining sector and a member of PT Mineral Industri Indonesia (Persero) (MIND ID) – the State-Owned Enterprise Holding of Mining Industry, has outlined an ambitious plan to elevate production and sales across its main commodities in 2024. With a strategic approach towards efficient cost management, ANTAM is...
READ MOREAston Bay Holdings has forged a deal with Emerald Geological Services (EGS) to secure an 80% stake in the Epworth Property, situated in Nunavut, Canada. This pivotal arrangement mandates Aston Bay to funnel a minimum of C$3 million ($2.22 million) into exploration efforts over the next four years. Nestled about 80km southeast of Kugluktuk in...
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Eramet, a French multinational mining and metallurgy company, has reached an agreement to convert the government loans of its New Caledonia nickel unit, Société Le Nickel (SLN), into equity. As of the end of December, these loans constituted approximately 40% of Eramet’s net debt, which stood at 614 million euros. Since then, the French government...
READ MOREVale Indonesia has emphasized the crucial role of nickel in the energy transition, highlighting the need for its sustainable processing from mining to battery production for electric vehicles. According to Suparam Bayu Aji, Head of Communications at PT Vale Indonesia, the future of mining hinges on sustainable practices that consider long-term environmental impacts. With Indonesia’s...
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In Esmeralda County, Nevada, a transformation is underway, spearheaded by Bernard Rowe, a geologist and managing director of the Australian mining company, Ioneer. Since 2016, over $172 million has been invested in a project aiming to mine lithium and boron from the ancient landscape of Rhyolite Ridge, a site with a unique geological history dating...
READ MOREThe Azovsky Technopark, located in the Rostov Region, Russia, has recently been included in the Ministry of Industry and Trade of Russia’s register, marking it as the first industrial technopark in the region to meet the required standards. This announcement was made by Igor Sorokin, the Deputy Governor. The project, led by the Technopark Azovsky...
READ MORECentaurus Metals Limited has announced a strategic pivot in the development of its Jaguar Nickel Project, now planning to execute the project in two phases due to evolving nickel market conditions. The initial phase will concentrate on producing nickel sulphide concentrate, preserving the project’s nickel output. A downstream nickel sulphate refinery phase is planned to...
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Pal Kildemo, the Executive Vice President and Chief Financial Officer of Norwegian aluminium and renewable energy company Norsk Hydro ASA, is set to depart the firm. Announced by Hydro, Kildemo will transition into the role of CFO at Emirates Global Aluminium (EGA), a leading aluminium producer based in the United Arab Emirates. Kildemo, who has...
READ MOREA collaborative effort between Russian and Belarusian scientists has led to the development of substances capable of inhibiting the growth of cancer cells, offering new hope to patients battling a dangerous form of breast cancer. During their research, the team synthesized new drugs based on platinum and palladium. They crafted structures designed to interact with...
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Scientists have successfully revitalized the use of niobium to create high-performance superconducting qubits, a crucial component for building quantum computers. For over a decade, aluminum has dominated the superconducting qubits arena due to its longer coherence time, which is vital for information retention. However, niobium has offered significant advantages, including higher operating temperatures, a broader...
READ MOREAltiplano Metals has announced its operational results for the fourth quarter of 2023 at the Farellon Copper-Gold (Cu-Au) project, showcasing a remarkable increase in production and processing alongside improved copper grades. During Q4 2023, the company extracted a total of 9,114 tonnes of mineralized material and processed 8,125 tonnes, marking a 12% and 13.6% increase,...
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