India’s lower house of Parliament (Lok Sabha) has recently passed the Mines and Mineral (Development and Regulation) Amendment Bill, marking a significant shift in the country’s mining sector. The new amendment allows private companies to participate in the mining of critical minerals, including lithium, which is a crucial element used in electric vehicle batteries. Previously,...
READ MORENickel Industries, a Sydney-based miner, achieved a record output from its rotary kiln electric furnace (RKEF) projects in the June quarter. The total RKEF nickel production for the quarter ending June 30 reached 32,558 tonnes, marking an impressive 18.8% increase from the previous quarter. The miner’s shares witnessed a positive response, with trading up 0.9%...
READ MOREBanco Aluminium is making preparations to establish an aluminium billet manufacturing unit in Miyagam village, Karjan taluka, Vadodara district, Gujarat. The proposed unit, covering an area of 18.08 acres, is set to have a manufacturing capacity of 72,000 tonnes per annum (tpa). As the company moves forward with its plans, it is currently working towards...
READ MOREGlencore International AG and Pan American Silver Corp have reached a definitive agreement for Glencore to acquire the 56.25% stake in the MARA project from Pan American Silver. The deal entails Glencore paying $475 million in cash upon closing and granting Pan American a copper Net Smelter Return (NSR) royalty of 0.75%.The MARA project, situated...
READ MORE
Chilean state-owned copper miner Codelco has revised its copper output forecast for the year due to ongoing operational delays and mining accidents. In its recent results briefing, the company announced a downward adjustment to its annual copper production forecast, now ranging between 1.31 million and 1.35 million tonnes. This is a significant reduction from the...
READ MORE
Copper prices in London have witnessed a remarkable surge, heading towards their best monthly performance since January, buoyed by the prospects of additional stimulus measures in China, the world’s leading consumer of the metal, and indications that the US Federal Reserve will halt rate hikes for the year. As of 08:12 GMT, the three-month copper...
READ MORE
As of July 28, 2023, Niger has suspended its constitution and dissolved all institutions following a military coup that overthrew President Mohamed Bazoum. It’s worth noting that Niger is one of the world’s significant uranium producers and holds the seventh position globally in uranium production, according to the World Nuclear Association (WNA). Uranium is a...
READ MOREVancouver-based Rover Metals has been directed by the US Bureau of Land Management (BLM) to develop a comprehensive plan of operations before commencing any exploration drilling at its Let’s Go Lithium (LGL) project located in rural Nevada. To comply with this requirement, the company will initiate discussions with environmental consulting firms this week to seek...
READ MOREExxonMobil has taken a significant step into the lithium mining sector by leasing around 120,000 acres in southern Arkansas for $100 million. The region, once known for its oil boom, is now attracting attention for its high lithium content in brine, making it a crucial resource for modern technology. Southern Arkansas, particularly the City of...
READ MOREMining and rail conglomerate Grupo Mexico, a major player in the global copper production industry, has announced a notable 38% increase in net profit for the second quarter. The rise in earnings was driven by higher copper sales and robust results from its transportation unit. Grupo Mexico reported earnings of 11 cents per share, surpassing...
READ MOREThe government of Vietnam has developed a plan to significantly boost rare earth metals mining in the country to 2.02 million metric tons per year by 2030, according to Reuters. Last year’s mining volume amounted to 4,300 tons, meaning it will need to increase approximately 470 times over the next eight years. Vietnam currently ranks...
READ MOREAccording to a report by Bloomberg News on July 28, Glencore, the commodity trader, and miner is engaged in advanced discussions to purchase its partner’s stake in the Mara copper project in Argentina. The move is part of Glencore’s strategy to increase its exposure to the metal. The company is reportedly in the final stages...
READ MOREOrion Minerals Ltd (ASX:ORN, JSE:ORN) has taken significant strides in its early production strategy for the Prieska Copper-Zinc Project in South Africa by releasing an updated Mineral Resource Estimate (MRE) for the near-surface +105 Level Crown Pillar. The updated MRE reveals a robust mineral resource, consisting of 2.3 million tonnes grading 1.7% copper and 1.6%...
READ MORESigma Lithium has achieved a significant milestone with the completion of its first shipment of battery-grade lithium from the Grota do Cirilo lithium mine in Minas Gerais, Brazil. The shipment consists of 15,000 tons of high-purity lithium concentrate and an equal amount of by-products from the operation, which will be refined to become lithium concentrate...
READ MOREChina’s Zhejiang Huayou Cobalt announced on Tuesday its plans to invest $200 million in a nickel sulfate project in Indonesia, as part of its efforts to expand production of this essential battery raw material. The investment will be made through its subsidiary, Huayao International Investment, in a joint venture with Singapore-based Strive Investment Capital and...
READ MOREPrices for copper and other base metals saw a rise in London on Tuesday following China’s commitment to bolster its economy and boost domestic demand. Three-month copper on the London Metal Exchange increased by 1.3% to reach $8,626 per metric ton during official open-outcry trading, touching its highest level since July 14 at $8,676. China’s...
READ MOREEcuador’s government announced on Thursday that it has successfully concluded negotiations with Australian miner SolGold (OTCPK: SLGGF) to move forward with the development of the Cascabel copper-gold mine. The ambitious project is anticipated to require a substantial investment of nearly $5 billion over its operational lifespan. According to government projections, the Cascabel mine has the...
READ MORE
The recent experiments conducted at the U.S. government’s Sandia National Laboratories have demonstrated that pieces of pure platinum and copper can spontaneously heal cracks caused by metal fatigue. Metal fatigue occurs when metal is subjected to repeated stress or motion, leading to microscopic cracks that can worsen over time and potentially cause catastrophic failures in...
READ MORERio Tinto is making a strategic investment of US$27.5 million in Sovereign Metals Limited’s Kasiya Rutile-Graphite Project in Malawi. Through this investment, Rio Tinto will acquire a 15% stake in Sovereign, with the potential to increase it to 19.99% within a year. The collaboration aims to tap into significant supplies of low carbon footprint natural...
READ MORESouthern Palladium, a dual-listed platinum group metal (PGM) company, has reported a significant 34% increase in total Mineral Resources at its Bengwenyama Platinum Group Metal project in South Africa. The project is situated on the Eastern Limb of the renowned Bushveld Complex. The company’s recent update to investors revealed that the total Mineral Resource, including...
READ MOREGerman company Wieland, headquartered in Ulm, has successfully acquired Farmers Copper Ltd., a prominent supplier of copper, brass, and bronze alloys, founded in 1980. Farmers Copper operates from two sites in Texas City and San Antonio, Texas, and the transaction was finalized on July 10. Renowned for its strong and long-standing customer base, Farmers Copper...
READ MOREAccording to data released on a Monday, China’s primary aluminum output increased from the previous year. Smelters in the southwestern Yunnan province resumed production as curbs on local power usage were eased, resulting in a 2.9% year-on-year increase. The country, being the world’s top aluminum producer, churned out 3.46 million metric tons of primary aluminum...
READ MORE
Lundin Mining, a Toronto-based mining company, has completed the acquisition of a majority stake in the company that operates the Caserones copper-molybdenum mine in Chile, the world’s largest producer of the metal. The acquisition gives Lundin Mining a 51% ownership stake in Caserones, with plans to acquire an additional 19% in the future. To finance...
READ MOREFollowing Chile’s decision to increase mining royalties beginning in 2024, copper miners are calling for incentives to maintain investments in copper production, crucial for the renewable energy revolution. The elevated royalties have led to tensions between the mining industry and the leftist government of Gabriel Boric, who seeks to use mining revenues to fund expanded...
READ MORE
