Global gold production surpassed 3000 tons in 2023, with China leading the charge as the world’s largest gold producer. According to the latest data from the United States Geological Survey, China’s gold production reached over 370 tons last year, accounting for more than 12% of the global output. Additionally, the People’s Bank of China significantly...
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Vale has successfully concluded a significant transaction with Manara Minerals, a joint venture between the Saudi Arabian Mining Company (Ma’aden) and the Saudi Arabian Public Investment Fund, selling a 10% stake in Vale Base Metals Limited (“VBM”) for approximately US$2.5 billion. This strategic sale, now approved by relevant regulatory authorities, underscores Vale’s ongoing effort to...
READ MOREAlbemarle, the world’s largest producer of lithium for electric vehicle batteries, fell short of profit estimates in the first quarter, impacted by lower lithium prices. The company reported an adjusted profit of $0.26 per share, missing analysts’ expectations of $0.27 per share. The decline in electric vehicle demand has contributed to a global drop in...
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Australia’s Atlantic Lithium is progressing its Ewoyaa lithium project, poised to become one of the world’s largest lithium mines, with significant backing from Ghana’s government. The company, which secured a 15-year mining license for the Ewoyaa project in October 2023, recently announced approval to list its ordinary shares on the Ghana Stock Exchange’s main market....
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GDK Baimskaya, set to develop a substantial gold and copper deposit in Chukotka, has been added to the Specially Designated Nationals (SDN) List by the Office of Foreign Assets Control (OFAC). The company, holding a mining license for the Baimskaya area, including the Peschanka copper porphyry ore deposit, faces significant regulatory scrutiny. Initially acquired by...
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Korea has witnessed a significant uptick in aluminum flat product prices for May shipments, with leading manufacturers Choil Aluminum and Novelis Korea raising their prices by 490,000 won and 480,000 won per ton respectively. Additionally, local prices have been adjusted upwards by $270 in response to the recent hikes in the London Metal Exchange (LME)...
READ MORESwiss mining behemoth Glencore has released its production figures for the first quarter of the year, revealing a mixed bag of results across its diverse commodities portfolio. The company reported that its copper production fell by 2% to 239,700 tons during the January-March period, primarily due to decreased output in Africa and the divestment of...
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Weardale Lithium has submitted a planning application to Durham County Council for constructing a lithium extraction plant at Eastgate, Weardale, UK. This facility is planned for phased construction on a reclaimed site previously occupied by a cement works. It will utilize existing geothermal wells to extract lithium from underground water sources. The proposal builds on...
READ MORECMOC has announced significant increases in its copper and cobalt production for the first quarter of the year. The Chinese mining company, operating in the Democratic Republic of Congo, reported copper production of 147,500 metric tons and cobalt production of 25,200 tons in the first three months. The company’s Tenke Fungurume Mining site recently expanded...
READ MOREImpala Platinum, the world’s second-largest producer of platinum, has announced a significant restructuring plan that involves the elimination of approximately 3,900 jobs. This decision is driven by a sharp decline in global prices for platinum group metals, as reported by South Africa’s News 24. CEO Nico Muller highlighted the severe impact of falling metal prices...
READ MORECopper bulls have returned to the London Metal Exchange, with the price of the 3-month contract recently surging above $9,700 per metric ton, marking a 13% increase since the start of the year. This rise in prices is largely attributed to renewed optimism for a robust Chinese economic recovery, a burgeoning global green-tech industry, and...
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Copper 360 has successfully shipped the first batch of copper concentrate from the Northern Cape copper province, marking the region’s return to copper production after a 21-year hiatus. This milestone was achieved with the commissioning of the MFP 2 (Nama Copper plant), recently acquired by the company. During the initial three-week commissioning phase, the plant...
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Boliden, Epiroc, and ABB have achieved an advancement in the mining industry’s move towards electrification with the successful deployment of the first fully battery-electric trolley truck system. This system, which was tested on an 800-meter-long underground track with a 13% incline at Boliden’s Kristineberg mine in northern Sweden, represents a critical step toward the development...
READ MOREFreeport-McMoRan, the prominent Phoenix-based miner, has reported a robust start to the year with first-quarter revenues exceeding expectations, driven largely by heightened demand for copper and gold. Despite a decline in net income from the previous year, the company’s financial performance highlighted strong operational results and favorable market conditions. For the quarter ending March 31,...
READ MOREFor the first time in its history, the Krasnoyarsk aluminum smelter (KrAZ), owned by Rusal, has processed a significant batch of aluminum scrap into primary aluminum. This milestone reflects a pivotal shift in production practices, emphasizing sustainability within the industry. The processed batch, though modest at 60 tonnes, marks a crucial step for Rusal in...
READ MOREMaterial scientists have unveiled a groundbreaking discovery in the field of metallurgy, as detailed in a recent publication in the journal *Science*. The newly developed alloy, composed of niobium, tantalum, titanium, and hafnium, demonstrates properties that were once thought to be unachievable, boasting extraordinary strength and impact toughness across a broad temperature range. This novel...
READ MORENorsk Hydro, a global aluminum company, is poised to report an adjusted operating profit of NOK 3,313 million (approximately USD 301 million) for the first quarter of 2024, according to consensus estimates from various brokerage houses compiled by Infront. The company’s revenue for the same period is expected to reach NOK 46,200 million (approximately USD...
READ MOREGetech has secured a contract with East Star Resources to locate porphyry copper deposits in Kazakhstan, an initiative under the BHP Xplor 2024 accelerator program. This partnership marks the first application of Getech’s Globe geoscience platform in the search for porphyry copper, following a recent joint venture agreement to explore for sedimentary copper in the...
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Zinc prices, currently at a one-year high on the London Metal Exchange (LME), are under threat from slow global economic growth and a surplus of supplies, according to industry analysts. Despite recent highs, the outlook for zinc demand remains subdued, particularly due to ongoing weakness in China’s property market and a general deceleration in global...
READ MOREAbu Dhabi’s International Holding Company (IHC), through its mining unit International Resources Holding (IRH), is making significant strides to establish a copper mining empire in Africa. IHC has reportedly offered over $1 billion for a 51% stake in Konkola Copper Mines, a key asset of Vedanta Resources in Zambia. This follows IRH’s acquisition of a...
READ MOREAlara Resources has announced the commissioning of its new copper concentrator plant at Al Wash-hi Majaza in Oman, a project managed through its majority-owned joint venture, Al Hadeetha Resources. The plant, with an annual capacity of 1 million tonnes, began operations by processing low-grade ore to produce copper concentrate. Initially, the plant produced low-grade copper...
READ MORECopper prices saw a decline in early Asian trading, with the LME 3-month copper contract falling 0.6% to $9,529.00 a tonne. Market analysts are closely watching China’s refined copper production data for March, expected to be released later in the day, which could influence trading dynamics. Additionally, recent production updates from BHP, which holds a...
READ MOREMining giant BHP has laid out a plan for a comprehensive review of its Nickel West operations, responding to the current subdued market for nickel. The reassessment, which has been in progress for some months, is part of the company’s broader strategy to determine the future path for its nickel assets, including the West Musgrave...
READ MORENonferrous metals saw prices climb in Thursday’s trading, buoyed by a retreating U.S. dollar as investors recalibrated their expectations for the country’s interest rates. The trend of the dollar distancing itself from recent highs is creating a more favorable environment for metal commodities priced in the greenback. Copper, a bellwether for economic health, witnessed a...
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