Hindustan Zinc, a leading integrated producer of zinc, lead, and silver under the Vedanta Group, has reported robust financial and operational performance for the first quarter of FY25, ending in June 2024. The company’s revenue from operations rose by 12% year-over-year to ₹8,130 crore, driven by increased metal volume and higher metal and silver prices,...
READ MOREChina’s state planner announced new targets for the use of renewable energy in aluminium production across key provinces on Friday. This move is part of China’s broader strategy to reduce carbon emissions and enhance sustainable practices in its industrial sectors. Shandong Province, the country’s largest aluminium producer, has been tasked with achieving 21% of its...
READ MOREAmidst heightened demand driven by the rise of artificial intelligence and increased consumption in the tech sector, copper supply remains a focal point of global interest. Earlier this year, Forbes highlighted a looming showdown between the United States and China over dwindling copper resources, with prices soaring. Although copper prices have dipped slightly in recent...
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Stu Shaun Staushorn, CEO of Rio Tinto, has suggested that the company may pursue significant mergers and acquisitions (M&A) as it looks to expand its lithium and copper operations. This marks a notable shift in strategy for the mining giant amid a broader trend of consolidation within the industry, as reported by local newspapers on...
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Capstone Copper has announced its financial results for the second quarter of 2024, highlighting robust copper production and significant financial gains. For the quarter ending June 30, 2024, Capstone produced 40,937 tonnes of copper at C1 cash costs of $2.84 per payable pound of copper. CEO John MacKenzie praised the company’s performance, noting the successful...
READ MOREThe New York trading session on August 1st witnessed significant fluctuations in spot gold prices, with a dramatic drop from above $2,460 per ounce to below $2,435 per ounce. Thursday’s trading saw heightened volatility, with spot gold reaching an intraday low of $2,430.12 per ounce in the European market. Later, prices climbed sharply to an...
READ MOREOn Wednesday, spot gold prices surged over $36, closing at $2,446.91 per ounce after rising to a high of $2,450.93 per ounce during the New York trading session. This increase was driven by Federal Reserve Chairman Jerome Powell’s dovish remarks, which affected the U.S. dollar and bond yields, and escalating tensions in the Middle East....
READ MOREOn Wednesday, spot silver prices surged more than 2% following dovish comments from Federal Reserve Chairman Jerome Powell and heightened tensions in the Middle East. The price of spot silver climbed past the key resistance level of the 100-day moving average (DMA) to close at $28.98 per ounce, marking a 2.15% increase. The Federal Reserve...
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US mining company Albemarle has announced a significant reduction in production and workforce at its $2 billion lithium hydroxide plant in south-west Western Australia, due to a sharp decline in lithium prices. The company will halt expansion plans, cut 300 jobs, and write down the plant’s asset value by approximately $1.5 billion. The decision involves...
READ MOREKorea Zinc, the world’s leading non-ferrous metal smelting company, is celebrating its 50th anniversary with ambitious plans for future growth. The company aims to reach a market capitalization of 70 trillion won ($51 billion) by 2033, supported by a cumulative revenue target of 217 trillion won ($158 billion) from 2023 to 2033. This goal was...
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Taseko Mines reported its financial and operational performance for the second quarter of 2024 and provided updates on the Florence Copper project construction. This report should be considered alongside the company’s financial statements and Management Discussion & Analysis, accessible on the company’s website and SedarPlus. In March 2024, Taseko Mines acquired the remaining 12.5% stake...
READ MOREJindalee Resources, now JLL, has announced a significant milestone by producing battery-grade lithium carbonate from its McDermitt project in Oregon. This development follows test work at Hazen Research Inc in collaboration with Fluor, the lead engineer for the ongoing pre-feasibility study (PFS). McDermitt is the largest lithium deposit in the US, with a resource of...
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Analysts have revised down their forecasts for Boliden’s operating profit for the full year 2024 by 3.5 percent, following the company’s second-quarter report. This update comes from Infront’s latest summary, compiled after Boliden’s interim report released just over two weeks ago. The analyst community now expects Boliden to achieve an operating profit of SEK 11.5...
READ MOREAluminum stocks from Russia have significantly increased on the London Metal Exchange (LME) following sanctions imposed by the US and the UK in April, as reported by Bigmint in their June review. The stockpile rose by 33% year-on-year in the first half of 2024, reaching 695,372 tons, with most of the metal stored at Port...
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Hindalco Industries, a leading metals company, has announced a capital expenditure plan of nearly $7 billion over the next three to five years, which includes significant investments at its US-based subsidiary, Novelis Inc. This ambitious investment cycle aims to bolster Hindalco’s strategic capacity expansions both in India and North America. According to the company’s annual...
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Spot silver prices surged nearly 2% on Tuesday, July 30, amid escalating geopolitical tensions in the Middle East. FXStreet analyst Christian Borjon Valencia analyzed the technical trends of silver prices, noting the impact of recent events on the market. Spot silver closed the session 1.9% higher at $28.37 per ounce. Valencia pointed out that silver...
READ MORECopper prices continued their downward trend on the London Metal Exchange (LME) for the third consecutive session on Tuesday, driven by persistent concerns over demand from China, the world’s top consumer, and uncertainty about the timing of interest-rate cuts. The three-month copper contract fell by 0.9% to $8,948.5 per metric ton by 0959 GMT, dropping...
READ MOREBattery Mineral Resources has announced the successful delivery of its second shipment of copper concentrates under the Offtake Agreement with Anglo American Sur, a division of Anglo American. The shipment, comprising 751.65 dry metric tonnes (DMT) of copper concentrates, was sent to Anglo’s Chagres smelter in Catemu, Chile. These concentrates, produced from copper smelting by-products...
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Nornickel has announced its production results for the first half of the year and the second quarter of 2024. According to its statements, the company’s nickel smelting remained almost unchanged at 90,000 tons for January-June 2024. Copper output increased by 7% to 219,000 tons. Palladium output was stable at approximately 1.5 million troy ounces, while...
READ MOREHindustan Zinc Limited, the world’s second-largest integrated zinc producer and third-largest silver producer, is set to explore new applications of zinc in batteries as part of its strategy to support the global energy transition. Chairperson Priya Agarwal Hebbar announced that the company is focusing on enhancing production volumes, reducing production costs, and creating stakeholder value....
READ MORESwiss-based mining group Glencore announced a decrease in its copper production by 5% to 462,600 tons in the first half of 2024. On a like-for-like basis, this figure was 2% lower after adjusting for the sale of 15,000 tons of Cobar volumes in June 2023. The company’s own-sourced cobalt output dropped by 27% to 15,900...
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Vedanta Nico, a subsidiary of Vedanta Ltd, announced on Monday that it has entered into a partnership with US-based AEsir Technologies to supply nickel, a critical component for next-generation batteries. Nickel is essential for electric vehicle (EV) battery technology, particularly in the cathode, enhancing energy density, power output, and battery lifespan. Nickel-rich batteries, such as...
READ MOREDespite a significant drop in copper prices, falling 20% in the past two months, analysts from major banks such as BMO, Citi, and Goldman Sachs predict a rebound. Factors such as supply shortages from Chinese smelters and limited mine supply are expected to drive prices up again. According to the Financial Times, the world’s largest...
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Gold prices remained largely unchanged on Tuesday as investors awaited the Federal Reserve’s policy meeting and a series of U.S. data releases that could provide more clarity on the timing of potential rate cuts. As of 0023 GMT, spot gold was down 0.1% at $2,380.79 per ounce, while U.S. gold futures held steady at $2,378.00....
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