According to the annual report of AO Concern “Energomer,” the “Monocrystal” group of companies (the only European manufacturer of pastes for solar cell metallization, part of the industrial holding “Energomer”) plans to double its market share of aluminum paste in China by 2023. The report was published on Thursday. “In the solar energy paste market,...
READ MOREAs Indonesia contemplates imposing fines on nickel firms involved in alleged illegal exports of raw nickel to China, experts suggest that officials should focus on studying the underlying reasons behind producers’ actions rather than resorting solely to punitive measures. The Corruption Eradication Commission (KPK) of Indonesia recently revealed that Chinese customs data indicated the receipt...
READ MOREAccording to Goldman Sachs, the growing adoption of electric vehicles (EVs) serves as a significant driver for the bullish outlook on copper. The bank forecasts that copper demand from the EV sector will reach 1 million tonnes (mt) this year and rise to 1.5 mt by 2025. In a recent note, Goldman Sachs highlighted copper’s...
READ MORELME Clear has announced the appointment of David Warren as Chairman effective July 20, 2023. David will succeed Marco Strimer, who will step down as Chairman at the end of his term of office. David has over 30 years’ experience in the financial services industry and significant experience in the infrastructure and regulation of global...
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Zambia is on the verge of finalizing an agreement with Vedanta Resources regarding the disputed copper assets of Konkola Copper Mines. According to the country’s mines minister, a deal regarding the future of the partially state-owned unit is expected to be announced soon. Ever since the breakdown of relations between Zambia and Vedanta a few...
READ MOREOn July 1, 2023, Mayville Engineering Company, Inc. (NYSE: MEC), commonly known as MEC, successfully finalized the purchase of Mid-States Aluminum (MSA), a privately owned business. MSA, headquartered in Wisconsin, is renowned for its expertise in manufacturing custom aluminum extrusions and fabrications. In addition to its primary offerings, MSA provides valuable services like design, engineering,...
READ MOREDue to heavy rainfall, Chile’s state-owned Codelco, the world’s largest producer of copper, anticipates a decline of approximately 7,000 metric tons in copper production by 2023, as stated by Chairman Maximo Pachecho on Wednesday. Following a meeting with the country’s finance ministry, Pachecho informed reporters that the company projects total production for 2023 to be...
READ MOREGlencore aims to acquire full ownership of PolyMet Mining, the company developing a copper-nickel mine in northeastern Minnesota with Teck Resources. Currently holding 82% of PolyMet Mining, Glencore offered $71 million to increase its stake to 100%, making PolyMet a private entity. This proposal represents a 167% premium over PolyMet’s closing stock price on Friday,...
READ MOREGuangzhou Tinci Materials Technology, a prominent Chinese supplier of electrolytes and electrolyte chemicals for lithium batteries, has unveiled its plans to invest a substantial sum of $280 million in the construction of a new plant in Morocco. The facility, spearheaded by the company’s Singapore-based unit, Yicai Global, will focus on the production and sale of...
READ MOREIndonesia’s President Joko Widodo, popularly known as Jokowi, is embarking on an official visit to Sydney with the aim of advancing Jakarta’s electric vehicle (EV) battery hub aspirations by leveraging Australia’s abundant lithium resources. During his three-day trip, President Widodo will engage in the annual leaders’ meeting with Australian Prime Minister Anthony Albanese, as the...
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Argentina’s inaugural lithium battery plant is set to commence operations in September, utilizing locally extracted metal supplied by Livent Corp, a US-based company, according to mining officials. The plant, developed by Y-TEC, a subsidiary of Argentine state oil firm YPF, will mark the country’s entry into lithium-ion battery cell production. The batteries will rely on...
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Boliden’s Rönnskär copper plant has partially resumed production following a devastating fire on June 13, which resulted in the complete destruction of the electrolytic refinery. While some production lines are now operational, the plant is operating under modified conditions, with copper production taking place in the form of anodes instead of cathodes. This adjustment to...
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Imerys, the global leader in mineral-based specialty solutions, has acquired an 80% stake in British Lithium, paving the way for the establishment of the UK’s first lithium mine in Cornwall. With support from the UK Government, the two companies aim to combine their expertise to develop the mine. British Lithium has been conducting drilling and...
READ MOREThe London Metal Exchange (LME) is witnessing a renewed scramble for copper as its warehouse stocks continue to dwindle rapidly. Over the past three weeks, LME copper stocks have declined from 100,100 tonnes to 77,050 tonnes, despite receiving almost 30,000 tonnes of new arrivals. However, the incoming copper is being quickly turned around and shipped...
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Canadian mineral exploration company Genius Metals has announced its agreement to acquire a 100% stake in the Paka lithium property located in James Bay, Québec, Canada. The property consists of 189 contiguous claims covering over 97km² in the prospective Archean La Grande greenstone belt, just 15km south of the Trans-Taiga government road. As per the...
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Codelco, the state-owned mining giant, confirmed the occurrence of an electrical accident at its El Teniente mine in central Chile, resulting in one fatality. The incident took place during the installation of a generator at the mine’s Andes Norte expansion project at approximately 3 p.m. (1900 GMT) on Thursday. The victim, identified as Osvaldo Bustamante...
READ MOREACG, the world’s leading integrated pharma manufacturing solutions company, has announced its complete shareholding ownership of Technical Aluminium Foil Company (TAFC). This strategic move signifies ACG’s commitment to expanding its presence in the Middle Eastern and African markets, solidifying its growth trajectory. As a comprehensive provider of pharmaceutical manufacturing solutions, ACG offers a diverse range...
READ MOREEuropean Union countries have reached an agreement to increase proposed targets for recycling and processing raw materials as part of their green transition. Additionally, aluminium has been included in the list of essential minerals. The Critical Raw Materials Act is a key component of the EU’s strategy to ensure competitiveness with the United States and...
READ MOREShenyang Aluminum and Magnesium Engineering and Research Institute Co. Ltd. (SAMI) and EnPot Ltd, a New Zealand-based company, have signed an Intention to Cooperate Agreement in a ceremony held in Beijing, attended by New Zealand’s Prime Minister Chris Hipkins. The agreement reflects the shared vision of both companies to explore the application of EnPot’s patented...
READ MOREIranian Alvand Mining and Mineral Industries CJSC is interested in the construction of a copper cathode plant in the Syunik region of Armenia. Trade attaché of Armenia to Iran Vardan Kostanyan and representatives of other interested departments attended the meeting. A preliminary plan to establish a cathode plant for copper processing in Syunik was discussed,...
READ MOREEndeavour Mining announced on Friday the sale of its 90% interests in the Boungou and Wahgnion gold mines in Burkina Faso for approximately $300 million. The move is part of the company’s strategy to prioritize higher quality assets. The buyer, Lilium Mining, a subsidiary of Lilium Capital, is an investment vehicle focused on African and...
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Zambian copper miner Mopani has released its annual financial statements, revealing a loss of $298 million (K5.26 billion). This represents a significant increase from the previous year’s loss of $74.2 million at the state-owned mine. The loss came as copper production dropped to 72,694 tonnes (t) over the year, down from 87,618t in the previous...
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Canada Silver Cobalt Works Inc has announced its plans to conduct an airborne Multi-Parameter Airborne Survey System (M-PASS) over the expansive sections of its Castle Mine silver project in Northern Ontario. Developed by geoscientists and data scientists at ALS GoldSpot Discoveries, the survey will incorporate advanced technologies including a triaxial magnetic gradient magnetic/VLF platform, a...
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The recent heavy rains in Chile’s central-south region have caused disruptions to operations at Codelco, the world’s largest copper producer. Codelco is still assessing the impact of the weather-related stoppages on its operations. At its El Teniente copper mine, some operations are still on hold, specifically in the Sewell and Rojo areas. However, underground operations...
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