Aluminium Bahrain (Alba), the world’s largest single-site smelter, has announced that Capral Aluminium, Australasia’s only ASI Certified extruder, is the first customer for its newly launched EternAI low-carbon aluminium primary billet. The EternAI product line, introduced in May 2024, features two initial variants: EternAl-30 and EternAl-15, which contain 30% and 15% recycled content, respectively, thus...
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Alliance Nickel plans to commence production from its NiWest battery metals project around the same time BHP Nickel West hopes to resume operations in 2027. The Perth-based company outlined its vision in a recent quarterly activities report, highlighting the difficulties facing the nickel industry as it advances its NiWest nickel-cobalt project, located 50 kilometers southeast...
READ MOREOn Thursday, the gold market experienced a significant sell-off, with spot gold prices dropping nearly $33 to fall below $2,360 per ounce. Spot gold closed the day down $32.61, or 1.36%, at $2,364.25 per ounce, after hitting a nearly two-week low of $2,353.05 during the New York session. Analysts attribute the plummet in gold prices...
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Novelis has announced a significant investment of approximately $90 million to enhance its recycling capacity for used beverage cans (UBCs) at its Latchford plant in the UK. This project aims to increase the recycling capacity by 85 kilotonnes per annum, marking over a 100% growth. The investment involves constructing new facilities, including a building dedicated...
READ MOREVale, a leading mining company, recorded a profit of R$14.6 billion (US$803 million) in the second quarter of 2024, marking a 219% increase from the same period in 2023. The company’s net revenue reached R$51.7 billion (US$2.84 billion), reflecting an 8.3% rise compared to the previous year. Compared to the first quarter, profit grew by...
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Futures contracts of copper on the London Metal Exchange edged up slightly in early Asian trade today. The rise is driven by expectations that the Federal Reserve will cut interest rates in September, which would likely stimulate economic activity and increase demand for copper. Additionally, consumption of copper increased by 3.7% year-on-year to 11.16 million...
READ MOREUmicore Group has reported half-year revenues amounting to €1.8 billion. The company’s adjusted EBITDA reached €393 million, reflecting an adjusted EBITDA margin of 21.8%. Adjusted EBIT was €241 million, while adjusted net income (Group share) stood at €118 million, translating to adjusted earnings per share of €0.49. The return on capital employed (ROCE) was 11.3%....
READ MORECyprium Metals Limited has announced a Commercial Strategic Partnership with Glencore International AG, aimed at accelerating the resumption of copper production from the Nifty copper complex in Western Australia, near Port Hedland. As part of this partnership, Cyprium has executed a term sheet to sell cathode products to Glencore on commercial terms for a fixed...
READ MOREAnglo American has confirmed it will retain a corporate office in South Africa and continue to engage in local interests, even as the company’s only remaining South African assets post-restructuring will be Kumba Iron Ore and its manganese business. This announcement comes from CEO Duncan Wanblad following the group’s first financial results since fending off...
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The Strasbourg-based startup Viridian Lithium has signed a lease agreement with the Ports of Strasbourg to establish its lithium production plant in Lauterbourg, Bas-Rhin. This pioneering facility, set on a 14-hectare site with an additional 6 hectares reserved for future expansion, marks the first of its kind in Europe for lithium refining. Founded in 2021,...
READ MOREPiedmont Lithium, a major North American lithium supplier, announced that its North American Lithium (NAL) operations achieved record production in Q2’24, shipping approximately 14,000 dry metric tons (dmt) of spodumene concentrate. The company targets shipping 96,500 dmt in the second half of 2024, aiming for a full-year total of 126,000 dmt, contingent on shipping logistics...
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Spot silver prices have dropped below the critical $29.00 per ounce mark, despite a weakening U.S. dollar. According to FXStreet analyst Christian Borjon Valencia, the decline was driven by an increase in U.S. bond yields, which exerted downward pressure on silver. Valencia notes that silver ended Wednesday’s session 1.2% lower, closing at $28.88 per ounce....
READ MOREVedanta Aluminium, in partnership with the policy think tank NITI Aayog, is exploring sustainable applications for red mud, a byproduct of the bauxite refining process used in aluminium production. The collaboration aims to utilize red mud effectively through focused research, development, and commercialization efforts in various industries. During a recent day-long session, participants discussed the...
READ MOREFutures contracts for copper fell today on the London Metal Exchange (LME) due to concerns about a weak Chinese economy, as markets anticipate continued reduced demand from the world’s largest consumer of copper. The decline was also influenced by an increase in copper inventories. Data from the International Copper Study Group indicated that global refined...
READ MORESandfire Resources has reported a Total Recordable Injury Frequency (TRIF) of 1.6 at the end of FY24, maintaining a steady safety record compared to the previous year. The company’s continuous commitment to safety was pivotal in achieving this result. In addition to safety achievements, Sandfire published the findings of an external investigation into the historical...
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British mining company Anglo American announced a significant shift in its financial performance for the first half of the year, reporting a loss attributable to equity shareholders of $672 million. This marks a stark contrast to the profit of $1.26 billion reported in the same period last year. The basic loss per share for the...
READ MOREAndrada Mining, an African technology metals mining company with assets in Namibia, has released its unaudited operational update for the quarter ended 31 May 2024 (Q1 FY2025). Operational Highlights: Financial Highlights: Despite facing new royalty charges from Orion and rising mining costs, management has maintained its cost guidance. The mine and plant performance are expected...
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Magna Terra Mineral has announced the acquisition of the Humber Copper-Cobalt Project, located in western Newfoundland, via staking. The Humber Project focuses on critical minerals and metals, comprising 1,325 claims across 10 mineral licenses, covering an area of 33,125 hectares. The project area is characterized by rocks from the sedimentary Humber Arm Allochthon, which contain...
READ MOREThe production of copper cathode in Iran increased by 5 percent, or 5,000 tons, during the first four months of the current Iranian year (March 20 through July 21, 2024) compared to the same period last year (March 21 through July 22, 2023), according to a statement from Iran’s National Company of Copper Industry, Trend...
READ MOREGreater Noida-based LOHUM, a producer of sustainable battery raw materials through recycling, repurposing, and low-carbon refining, has announced a significant investment of ₹2,000 crore ($267 million) over six years in a new plant in Krishnagiri, western Tamil Nadu. This facility will produce Cathode Active Material (CAM) used in battery manufacturing. The company has acquired 65...
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BHP Group’s ambitious project to establish a green nickel hub in Western Australia is on hold, with the mining giant announcing that its Nickel West division will be placed on care and maintenance later this year. This decision comes after significant market turmoil and depressed nickel prices overshadowed the company’s substantial investments and green initiatives....
READ MOREFirst Quantum Minerals has reduced its nickel production guidance for 2024 after deciding to mothball its Ravensthorpe operation earlier this year due to market instability. Despite maintaining its copper and gold production targets, the Toronto Stock Exchange-listed miner has adjusted its nickel targets to align with the year-to-date production at Ravensthorpe. The Ravensthorpe open-pit nickel...
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Global production of primary aluminium fell by 3.2% in June to 5.94 million tons, according to data from the International Aluminium Institute. On an annual basis, production saw a 3.2% increase from 5.76 million tons recorded in June last year. The global daily average aluminium production rose slightly to 198,000 tons in June from a...
READ MORETucuma Project Reaches Key Milestones in Copper Production The Tucuma Project has achieved several important milestones as it moves towards full commercial production. The mine pre-strip was completed, and full mine operations commenced in April 2024. By mid-June 2024, the first ore passed through the milling and flotation circuits, with the first batch of copper...
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