Gold Fields Ltd reported a drop in interim profit for the first half of 2024, impacted by adverse weather conditions and production setbacks that negatively affected output. The Johannesburg-based gold mining company also lowered its production forecast for the 2024 financial year to a range of 2.05 million to 2.15 million ounces, down from the...
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KGHM Group released its preliminary production and sales results for July, revealing varied performance across different metals. The company reported a 12% year-on-year decline in the production of payable silver, totaling 114.5 tonnes, a decrease of 15.4 tonnes compared to the same period last year. Silver sales also saw a drop, down 3% year-on-year to...
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The global production of refined copper increased by 6.2% year-on-year to 13.86 million tonnes in the first half of 2024, outpacing the 3.4% rise in consumption, which reached 11.16 million tonnes, according to a report by the International Copper Study Group (ICSG) released on Tuesday. This disparity led to a significant widening of the copper...
READ MORESQM, once a star performer in 2022 and 2023, is experiencing a challenging fiscal year as the company grapples with declining lithium prices. The Chilean mining giant, which heavily relies on lithium, reported a sharp drop in profits, with second-quarter earnings plummeting 63% to $213 million from $580 million in the same period last year....
READ MOREThe cobalt market is grappling with a significant oversupply, highlighted by the recent delivery of 23 metric tons of cobalt to London Metal Exchange (LME) warehouses. This marks the first warranting of the battery metal on the LME since February 2022. Additionally, over 680 tons of cobalt were reported as off-warrant inventory at the end...
READ MORESpot gold prices experienced a volatile session on Wednesday, fluctuating around the $2,500 per ounce mark, as traders reacted to dovish signals from the Federal Reserve’s latest meeting minutes. The yellow metal initially dipped to an intraday low of $2,493.69 per ounce during New York trading hours but rebounded strongly, closing at $2,512.19 per ounce,...
READ MOREResearchers in the United States have developed a new method for extracting lithium from seawater that they claim could significantly reduce costs and environmental impact compared to current methods. Lithium, a critical component in the production of batteries for electric vehicles, has seen a surge in global demand, with production expected to rise from around...
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Kazakhstan is making significant strides in its copper production, with ambitious plans to increase output from 450,000 to 750,000 tons by 2029. This expansion is part of a broader effort to enhance the country’s manufacturing industry, including the implementation of a new copper smelter project in the Abay region. To support this growth, the Kazakh...
READ MOREEnviroGold Global, a technology company focused on monetizing metals in mine waste and tailings while improving environmental outcomes, has provided a corporate and operational update highlighting significant progress on several fronts. The company is ahead of schedule and under budget in commissioning its newly acquired demonstration plant, originally designed for nickel leaching and repurposed for...
READ MOREXanadu Mines has announced a significant increase in the mineral resource estimate for its flagship Kharmagtai copper-gold project in Mongolia. The updated estimate reveals an additional 463,000 tonnes of contained copper and a 746,000-ounce increase in contained gold. This brings the total resource to 3.8 million tonnes of copper and 9.3 million ounces of gold....
READ MOREFLSmidth has secured a significant order to deliver five AFP2500 concentrate and tailings filters to South32’s Hermosa critical minerals project in the Patagonia Mountains of southern Arizona, USA. The equipment will play a crucial role in supporting the project’s commitment to minimizing environmental impact and contributing to the supply of essential minerals like zinc and...
READ MOREAluminium prices, which have dropped by about 9% since hitting a two-year high of $2,695 per tonne on May 29, 2024, are expected to rise again due to tight supply for the remainder of the year, according to industry analysts. The metal reached a five-week high on Tuesday, driven by an alumina shortage in China...
READ MOREE3 Lithium has signed a Joint Development Agreement with Pure Lithium Corporation, a Boston-based company known for its innovative lithium metal battery technology. This collaboration aims to advance the design and construction of a lithium metal anode and battery pilot plant in Alberta, Canada. The partnership will also include a Preliminary Economic Assessment of a...
READ MOREGlobal primary aluminium production reached 6.194 million tonnes in July 2024, an increase from 6.084 million tonnes recorded in the same month last year. This growth corresponds to an average daily production of 199,800 tonnes, up from 195,100 tonnes per day in July 2023 and 199,400 tonnes per day in the previous month of June...
READ MOREMining giant BHP is reportedly in discussions with the Indonesian government regarding potential investments in the country’s rapidly expanding nickel industry. This comes despite BHP’s recent decision to temporarily shut down its nickel operations in Western Australia due to global oversupply and depressed nickel prices. Meidy Katrin Lengkey, the secretary-general of the Indonesia Nickel Mining...
READ MORECopper, a metal with an annual turnover exceeding $200 billion (£154bn), has experienced significant volatility in recent years. From its low of $1.65 per pound in 2015 to a recent high of over $5, copper has seen wild price swings driven by various factors, including supply deficits and growing demand in emerging technologies. In 2021,...
READ MORESigma Lithium Corporation (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global producer of sustainable lithium, announced robust financial results for the second quarter ended June 30, 2024. The company highlighted continued operational excellence, including strong sales volume, premium pricing of its environmentally sustainable ‘5.0 Green Lithium’, and expansion into new markets such as Japan...
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Weir Group, a mining specialist, has secured a £53 million contract for the Reko Diq copper-gold project in Pakistan’s Balochistan province, a greenfield development 50% owned by Barrick. The project aims to commence production in 2028, with a projected mine life exceeding 40 years. In the first phase of the project, Weir Group will be...
READ MOREGlencore has reported a significant 27% increase in zinc metal production during the first half of 2024, reaching 440,100 tons. This growth, representing an increase of 94,800 tons compared to the first half of 2023, is attributed to the consolidation of the CEZinc smelter in Canada and the restart of the Nordenham Zinc smelter in...
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Beijing announced on Thursday, August 15, that it will impose restrictions on antimony exports starting September 15. As the world’s largest producer of this critical metal, China’s move is expected to have wide-ranging impacts on industries that rely on antimony, including flame retardant manufacturing, ammunition production, and the photovoltaics sector. The price of antimony had...
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The Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) has set a new monthly production record, with 35,941 tonnes of copper produced in July 2024. Ivanhoe Mines announced that the Phase 3 concentrator, which reached commercial production ahead of schedule, played a crucial role in this achievement. The expansion has boosted the...
READ MORESignificant Accumulation of Lead and Zinc in Singapore The London Metal Exchange (LME) warehouses in Singapore have seen a substantial accumulation of lead and zinc, reaching nearly 430,000 tons—a tenfold increase since May 2023. This growth is attributed to two main factors: a global economic slowdown that has dampened demand for base metals, and a...
READ MOREAs the global drive towards sustainable energy intensifies, green hydrogen is becoming a key component in the future energy landscape. However, the scarcity of Iridium, a critical element used in polymer electrolyte membrane (PEM) electrolysers, presents a significant obstacle. Iridium is extremely rare and expensive, with an annual production of only 8-9 tons, making it...
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Ganfeng Lithium’s subsidiary, Ganfeng LiEnergy, has announced plans to form a long-term strategic partnership with Turkish battery manufacturer YIGIT AKU. The collaboration aims to leverage Ganfeng Lithium’s extensive industrial chain and resources alongside YIGIT AKU’s strong presence in Turkey’s battery manufacturing sector and its international market reach. As part of this partnership, the two companies...
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