Vilnohirsk Mining and Metallurgical Combine, located in the Dnipropetrovsk region in Ukraine and a part of the United Mining and Chemical Company (UMCC), is gearing up to boost its production output in 2024. This initiative follows a recent visit by the head of the State Property Fund of Ukraine, Vitaliy Koval, to the enterprise. During...
READ MORE
The global nickel market is currently facing a significant downturn, with prices dropping to their lowest level since 2021, which may lead to widespread closures of nickel mines worldwide. However, this decline could paradoxically strengthen Indonesia’s position in the global nickel supply chain. Decline in Nickel Prices Nickel prices have recently plummeted to US$16,000 per...
READ MORE
The global nickel market is currently facing a significant downturn, with prices remaining low for an extended period. This persistent decline has placed considerable pressure on nickel producers worldwide, raising concerns about the potential for widespread mine closures. Such a scenario could inadvertently strengthen Indonesia’s position as a dominant player in the global nickel supply....
READ MORE
Wyloo Metals, a private nickel producer under the ownership of Australian tycoon Andrew Forrest, has announced the impending shutdown of its mines in Western Australia. This decision, influenced by a significant drop in nickel prices, marks a pivotal moment for the company, especially considering its recent acquisition of these mines only half a year ago....
READ MOREGlencore, a prominent figure in the global mining sector, is taking significant steps in the North West Minerals province, dedicating $60 million this financial year in a determined search for new mining deposits akin to the prolific Mount Isa mine. This investment comes at a crucial time as the company faces the challenge of phasing...
READ MORE
Significant Developments and Copper Production Forecast Hillgrove Resources has reported substantial advancements in its Kanmantoo project, according to its latest quarterly report for the period ending December 31, 2023. Key Milestones at Kanmantoo Copper Production Timeline Drilling Results and Mineral Zones Confirmation Discovery and Exploration Target Revision
READ MORE
Azerbaijan is on the path to stabilizing its gold production in the period from 2024 to 2026, following a projected decline in 2023. This projection is based on the operations of the country’s major gold mining companies, Anglo Asian Mining and AzerGold, which are preparing to initiate new deposits of valuable metals. Key Developments Contributing...
READ MOREHyundai Motor, a major player in the electric vehicle (EV) sector, has further secured its foothold in the EV battery market by signing a lithium supply deal with Ganfeng Lithium Co., a leading Chinese supplier. This agreement, effective until December 31, 2027, guarantees Hyundai a steady supply of battery-grade lithium hydroxide for the next four...
READ MOREIndonesia’s ambitious plan to dominate the global nickel market and influence the electric vehicle (EV) industry has raised significant environmental concerns and faces potential market shifts. Indonesia’s strategy, aimed at leveraging its vast nickel resources, involves a ban on nickel exports and encouraging multinational companies to process nickel domestically. This move, while potentially increasing Indonesia’s...
READ MOREChina has announced a significant discovery of a lithium reserve in Yajiang county, Sichuan province. This discovery of approximately 1 million tonnes of lithium, a critical component in lithium batteries for electric vehicles (EVs), marks a notable development in the country’s pursuit of energy and resource security. The Ministry of Natural Resources revealed the substantial...
READ MOREIndia, historically a net exporter of copper, has seen a surge in imports following the closure of Sterlite’s copper smelter in Tamil Nadu. However, this trend is anticipated to reverse with the introduction of new domestic production capacities. The closure of Sterlite’s 0.4 million tonnes per annum (MTPA) facility in May 2018 marked a significant...
READ MOREMining Operations Update: – In Q4 2023, Atalaya Mining successfully mined 3.7 million tonnes of ore, maintaining its pace with previous quarters and the same period in 2022. – The waste mined in Q4 2023 saw an increase to 7.4 million tonnes, compared to 5.3 million tonnes in Q4 2022. This escalation is attributed to...
READ MOREAlbemarle, a major player in the lithium industry, has announced significant cutbacks in its operations and capital expenditure at the Kemerton lithium processing plant in Western Australia due to the recent downturn in lithium prices. Key Details: – Cost-Cutting Measures: Albemarle has reduced its 2024 capital expenditure from $2.1 billion in 2023 to between $1.6...
READ MORE
Antofagasta, a major player in the copper industry, has recently announced an increase in their 2023 copper production by 2%. This growth is primarily attributed to improved water availability at their flagship project Los Pelambres. The company’s output from this project saw a notable surge due to these favorable conditions. In addition to the increased...
READ MORE
Bob Moriarty, the founder of 321gold.com, has shared insights into the current state of the precious metals market, particularly focusing on gold and silver. In the last three weeks, there has been a noticeable negative sentiment toward these markets, which Moriarty believes may be indicative of a nearing market bottom. This sentiment could potentially lead...
READ MORECreative C&T Corporation, based in Daegu, has signed a Memorandum of Agreement (MOA) with UMMC (Ural Mining and Metallurgical Company) Group, the leading mineral resource development company in Russia. This agreement grants Creative C&T exclusive rights to import and sell Russian-produced mineral resources, including copper and rare earth metals, throughout East Asia. UMMC Group, which...
READ MOREIn 2023, Indonesia reported production of 535,200 metric tons of nickel in ferronickel and 71,400 tons of nickel matte, falling short of its set targets. This production level marks a slight increase in ferronickel output by 3.6% from the previous year but falls below the anticipated target of 628,600 tons. Conversely, the nickel matte output...
READ MOREThe recent agreement between SQM and Codelco over lithium production in the Salar de Atacama has sparked a significant debate, especially following businessman Francisco Javier Errázuriz Ovalle’s critique of the deal. Errázuriz calculated the value of 49.999% of the partnership at approximately US$ 12.9 billion, contrasting it with the US$ 1.8 billion valuation based on...
READ MORE
Mining giant Rio Tinto has released its latest production figures, showcasing a consistent performance in its aluminum sector. Despite the dynamic global market conditions, the company has produced 846,000 tonnes of aluminum in the fourth quarter of 2023. This figure marks a 5% increase from the previous quarter, although it’s a slight 2% drop compared...
READ MORE
As of January 15, London copper prices remained stable, primarily influenced by a weakening U.S. dollar. The three-month copper on the London Metal Exchange was priced at $8,350 per metric ton by 0538 GMT, maintaining its position following a 1.5% drop last week. The U.S. dollar’s decline, spurred by anticipations of a Federal Reserve rate...
READ MOREProspect Lithium Zimbabwe (PLZ), a subsidiary of China’s Zhejiang Huayou Cobalt Limited, has invested over US$700 million in acquiring and establishing a processing plant at its Arcadia Lithium Mine in Goromonzi District, Mashonaland East Province. This investment signifies a major commitment to the development of the lithium industry in Zimbabwe. The expenditure on the Arcadia...
READ MORECanada Nickel has entered into a Subscription Agreement with Samsung involving an investment of US$18.5 million into Canada Nickel. The investment is priced at C$1.57 per Common Share. Following the completion of this private placement, Samsung SDI will own approximately 15.6 million shares, representing about 8.7% of Canada Nickel’s issued and outstanding shares on a...
READ MORE
Persistence of Protests in Salar de Atacama Communities in the south of the Salar de Atacama, including Toconao and Camar, have decided to continue their protests, contrary to an earlier agreement to suspend the action. This ongoing occupation of access roads to the area, a crucial site for the country’s lithium production, poses significant risks...
READ MORE
China’s copper smelters, which produce half of the world’s refined copper, are experiencing a tightening of margins due to increased competition for mined copper supplies. This intensified competition is affecting the sector, but significant output cuts that could tighten the metal market are deemed unlikely. Mostly state-owned, Chinese copper producers are under pressure to maintain...
READ MORE
