Local businessman Lennox Cush is moving forward with plans to develop the controversial Liliendaal, East Coast Demerara land in Belgium, which was previously sold to Russian oligarch Oleg Deripaska’s company Rusal for $150 million. This sale had led to charges against Finance Minister Dr. Ashni Singh and former National Industrial and Commercial Investments Limited (NICIL)...
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Rio Tinto has declared force majeure on third-party contracts for alumina exports from its refineries in Queensland, Australia, due to reduced gas capacity at its operations. This announcement follows an incident on the Queensland pipeline in early March, which significantly affected gas supplies from Rio’s Gladstone facility. A company spokesman stated that the impact of...
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Gold surged to a new record high on Monday as investors sought the safety of bullion following the sudden death of Iranian President Ebrahim Raisi over the weekend. Spot gold rose to USD2,435.76 an ounce around 1150 BST on Monday, up from USD2,385.57 on Friday. The yellow metal briefly touched USD2,450 an ounce before retreating...
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Seibu Giken has announced its decision to acquire a 5% stake in Kumyoung, a South Korean company based in Yuseong-gu, Daejeon. The acquisition aims to strengthen the partnership between the two companies and expand Seibu Giken’s reach in the global lithium-ion battery market. Seibu Giken, known for its equipment essential to lithium-ion battery production for...
READ MOREGodolphin Resources has announced the commencement of a third phase of metallurgical test work on samples from its 100% owned Narraburra Rare Earth Elements (REE) Project. The process development testing, designed collaboratively by ANSTO and Ausenco Services Pty Ltd, includes the production of a Mixed Rare Earth Carbonate (MREC) product. This phase aims to support...
READ MOREIndonesia’s coal demand may increase in the coming years under the new administration led by incoming president Prabowo Subianto, whose focus is on economic growth and nickel processing. This shift comes despite the country’s commitment to reduce fossil fuel dependency with a $20 billion plan under the Just Energy Transition Partnership (JETP) mechanism. Investors are...
READ MOREThe International Energy Agency (IEA) has expressed concerns about potential “tensions” in global supplies of critical minerals and metals essential for the energy transition. The IEA emphasizes the need for increased mining investment to meet the goal of limiting global warming to 1.5 degrees Celsius by the end of the century. Despite recent price drops...
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Vizsla Copper has appointed Craig Parry, the current Executive Chairman, as Chief Executive Officer. Parry brings a proven track record of creating shareholder value, notably from his role as CEO of IsoEnergy. Chris Donaldson will step down as CEO but will remain a director. The Poplar Project, Vizsla Copper’s newly acquired asset, is home to...
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US Copper has announced encouraging results from a 15-hole shallow drill program conducted last fall on its Moonlight deposit, part of the Moonlight-Superior Copper Project in North-East California. The drill program revealed that 14 out of 15 holes contained acid soluble copper, including one intercept with 205 feet of 0.644% recoverable copper. These results confirm...
READ MORETroilus Gold has released the results of a Feasibility Study for its Troilus Project in northcentral Quebec, Canada. The study supports a long-life, large-scale, 50,000 tonnes per day (tpd) open-pit mining operation, marking a significant development in the Quebec and Canadian mining landscapes. The Feasibility Study outlines an open pit mine with a 22-year life,...
READ MORECenterra Gold reported Q1 revenue of $305.8 million, a significant increase from $226.5 million in the same period last year. The company’s consolidated gold production for the quarter was 111,341 ounces, with 48,317 ounces from the Mount Milligan Mine and 63,024 ounces from the Oksut Mine. Copper production totaled 14.3 million pounds. CEO Paul Tomory...
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Karora Resources announced its financial and operating results for the first quarter of 2024, highlighting record revenue and strong cash flow. The company reported quarterly revenue of $115.5 million, a 19% increase from the same period in 2023, driven by higher gold sales and favorable gold prices. Operating cash flow for the quarter was $42.6...
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In April, nickel prices experienced a significant rise of over 9%, driven by the resonance of non-ferrous metal prices and strong fundamental support. This trend is expected to continue in the short term as supply and demand dynamics shift. The Federal Reserve’s fluctuating interest rate cut expectations, coupled with concerns about a potential recession and...
READ MORERusal’s smelters reported a 2% year-on-year decrease in aluminium exports for the January-April 2024 period, totaling 888,000 tonnes, according to data from Russian Railways reviewed by Interfax. This follows a dynamic shift in export levels earlier in the year: exports were 5.5% higher in the first three months compared to the same period last year,...
READ MOREChina’s Ministry of Industry and Information Technology has released a draft guideline aimed at reshaping the lithium-ion battery sector. The new regulations are designed to curb the expansion of mere production capacity and instead push companies towards technological innovation, enhanced quality, and reduced production costs. Under the new guideline, companies will be required to allocate...
READ MOREThe World Platinum Investment Council (WPIC) has released its latest Platinum Quarterly report for Q1 2024, forecasting another year of market deficit and sustained demand for platinum, particularly from the automotive sector. This report underscores significant trends in supply and demand dynamics across various sectors impacting the platinum market. Total platinum supply in Q1 2024...
READ MOREExpansion of US Magnesium in the Lithium Market New Lithium Extraction Facility US startup International Battery Metals has formed a collaboration with US Magnesium to construct and operate a plant dedicated to the direct extraction of lithium from waste byproducts produced during the purification of magnesium salts into pure magnesium. The plant will be built...
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The US Department of Commerce has released preliminary findings in its anti-dumping investigation concerning extruded aluminum profiles imported from 14 countries. The investigation has identified varying levels of dumping margins applied to suppliers from each country, notably high for regions such as Indonesia (5.66-112.21%), Italy (15.3-41.67%), China (4.91-376.85%), and Turkey (45.44-602.72%), among others. Additional countervailing...
READ MOREGanfeng Lithium, based in Xinyu, Jiangxi province, has secured a significant deal to increase its ownership in one of the world’s largest lithium projects, located in Mali, West Africa. The company has finalized an agreement to purchase a 40% stake in the Goulamina project from Australia’s Leo Lithium for $342.7 million. This acquisition enhances Ganfeng’s...
READ MOREGold Fields has encountered significant production challenges in the first quarter of the year, leading to a substantial 18% decline in production year-on-year and a 22% drop from the previous quarter. The company reported producing 464,000 ounces of gold, heavily influenced by fatal incidents at its South Deep mine in South Africa and the St...
READ MOREIluka Resources CEO Warns of China’s ‘Weaponization’ of Rare Earths Market Tom O’Leary, CEO of Iluka Resources, issued a stark warning about China’s strategic manipulation of the rare earths market during the company’s annual shareholder meeting in Perth. O’Leary described China’s control over the industry, particularly heavy rare earths, as nearly absolute, achieved through dominant...
READ MOREPrysmian Group, an Italian leader in wire manufacturing, has entered into a long-term agreement with German copper strip manufacturer Aurubis, renowned for its focus on copper recycling. This strategic partnership aims to ensure a sustainable supply chain for Prysmian’s wire materials, primarily servicing its European manufacturing bases. The collaboration underscores both companies’ commitment to environmental...
READ MOREGaliano Gold has announced its first quarter 2024 operating and financial results, marking a significant period of transformation for the company. Galiano completed the acquisition of Gold Fields Limited’s 45% interest in the Asanko Gold Mine (AGM), located in Ghana, on March 4, 2024. This strategic move consolidates Galiano’s ownership, making it a dominant stakeholder...
READ MOREIn Lower Saxony, surrounded by rapeseed fields, a significant drilling effort is underway to tap into the potential of saline aquifers deep beneath the surface. The site, which sounds almost pastoral with its intermittent birdsong and the distant booms of shell detonations, is now a hub of activity. Here, at a depth of 3,800 meters,...
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