Noronex has announced an Earn-in Agreement and Strategic Alliance with South32, focusing on copper exploration in Namibia’s Kalahari Copper Belt. Highlights: – Exploration Funding: South32 will invest A$3 million annually over five years in exploration at Noronex’s Humpback-Damara Copper Project. – Ownership Interest: South32 can earn a 60% stake in Noronex’s subsidiary, Noronex Exploration and...
READ MOREOn Wednesday, July 17th, spot silver experienced a significant decline, falling by 3% despite the dollar’s weakness. According to FXStreet analyst Christian Borjon Valencia, the drop was driven by profit-taking, pushing silver prices below $31.00 per ounce. Spot silver closed at $30.29 per ounce, marking a 3.01% decrease, with prices reaching a session low of...
READ MOREAnglo American Platinum Limited has released its Platinum Group Metals (PGMs) production report for the second quarter ending June 30, 2024. The report highlights mixed performance metrics and underscores ongoing safety concerns. During Q2 2024, Anglo American Platinum experienced two work-related fatalities at the Dishaba Mine, part of the Amandelbult complex. This incident contributed to...
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On Wednesday, July 17, spot gold experienced a sharp decline during the New York session, dropping more than $30 from its recent historical high and approaching the $2,450 per ounce mark. Analysts attribute this pullback to profit-taking by investors, despite the weakening dollar and declining U.S. bond yields. Earlier in the session, gold prices surged...
READ MOREOn Thursday, aluminium prices fell to their lowest point in more than three months, while Shanghai nickel prices dropped to a four-month low, primarily due to increased production in key producing countries. On the London Metal Exchange (LME), three-month aluminium was nearly unchanged at $2,401 per metric ton by 0457 GMT, after hitting a low...
READ MOREFirst Atlantic Nickel has received drilling permits for its fully funded 2024 exploration and drilling program at the 100% owned Atlantic Nickel Project in central Newfoundland, Canada. This project aims to explore and develop high-priority awaruite nickel zones along a 30 km nickel trend. The company has started mobilizing heavy equipment to improve existing road...
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Volt Lithium has achieved a significant milestone by scaling up its field unit to a processing capacity of 96,000 litres per day, marking a 100-fold increase in its capabilities. This advancement sets the stage for the company to commence field operations in the third quarter of 2024. The company has reported lithium recoveries of up...
READ MOREMining company Antofagasta PLC reported a significant increase in copper production for the second quarter, with output reaching 155,300 tonnes, marking a 20% rise compared to the preceding first quarter. This increase was largely attributed to the improved performance at Los Pelambres following extensive maintenance and cleaning activities on the concentrate pipeline in February. However,...
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Novelis announced a $90 million investment to enhance its recycling capabilities at its Latchford plant in the UK. The project will increase the facility’s capacity for recycling used beverage cans (UBCs) by 85 kilotonnes annually, more than doubling its current capacity. According to Emilio Braghi, executive vice president of Novelis and president of Novelis Europe,...
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Orvana Minerals has provided an update on its production and exploration activities for Q3 FY2024, ending June 30, 2024, along with revised production guidance for the fiscal year ending September 30, 2024, from its operations at Orovalle, Spain. In Q3 FY2024, Orvana produced 13,078 gold equivalent ounces, marking a 29% increase over the previous quarter....
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Alcoa’s planned acquisition of its joint venture partner, Alumina Limited, has passed a significant milestone with Alcoa stockholders voting overwhelmingly in favor of the $3.4 billion deal. Approximately 99% of Alcoa shares present at the meeting supported the issuance of shares under the proposed transaction, initially announced in February. The next step is a vote...
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On Tuesday, spot gold prices experienced a significant rise, climbing nearly $47 and closing at $2,468.70 per ounce. Early Asian trading on Wednesday saw further gains, with prices reaching a new record high of $2,470.04 per ounce. Bloomberg’s analysis attributes the surge to increasing expectations of a Federal Reserve rate cut and traders’ bets on...
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Despite a drop from the highs seen in 2022, the lithium industry has been undergoing major changes in 2024. In the first quarter of 2024, global lithium reserves and resources saw a remarkable increase, reaching 303.5 million metric tons—a 52.2% rise compared to the same period three years ago. As suppliers adapt, some have started...
READ MOREBarrick Gold has announced preliminary Q2 production results, reporting 948,000 ounces of gold and 43,000 tonnes of copper. The company also disclosed Q2 sales figures of 956,000 ounces of gold and 42,000 tonnes of copper. Barrick reiterated its expectation of increasing gold and copper production each quarter throughout 2024, with a significant uptick anticipated in...
READ MOREFangyuan New Materials has announced significant enhancements in its production capabilities for essential battery components. According to recent research records, the company currently boasts an annual production capacity of 86,000 tons of ternary precursor and 10,000 tons of lithium salt products. The ternary precursor production line is capable of producing intermediate nickel cobalt salts, essential...
READ MORERio Tinto’s aluminum production for the second quarter of 2024 remained stable at 824,000 tonnes, consistent with the previous quarter and marking a 1% increase from the same period last year. The company reaffirmed its annual aluminum production guidance for 2024, aiming to produce between 3.2 and 3.4 million tonnes. In its production update released...
READ MORESaga Metals, a North American exploration company focusing on critical mineral discoveries in Canada, has filed its final initial public offering (IPO) prospectus with securities regulatory authorities in British Columbia, Alberta, and Ontario. The IPO aims to raise a minimum of C$2,500,000 (approximately USD 1,825,000). The offering includes: 1. 2,500,000 hard dollar units (“HD Units”)...
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The US Department of Energy has announced a conditional $1.2 billion loan to ENTEK Lithium Separators, aimed at financing a new facility in Terre Haute, Indiana. This plant will produce lithium-ion battery separators, essential components for electric vehicles (EVs). According to ENTEK, the project will support the production of battery separators for approximately 1.9 million...
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The global copper industry is facing significant challenges as supply struggles to keep up with surging demand, according to industry experts at the Rule Symposium on Natural Resource Investing held July 7-11 in Boca Raton, Florida. South32’s Sierra Gorda copper mining joint venture in Chile and other major producers are sounding alarms about potential shortages...
READ MOREAtalaya Mining has released its operations update for the second quarter of 2024, showing robust performance at its Proyecto Riotinto in Spain despite some challenges. During Q2 2024, Atalaya mined 3.8 million tonnes of ore, slightly down from 3.9 million tonnes in Q2 2023, but up from 3.7 million tonnes in Q1 2024. Waste mined...
READ MOREChina’s primary aluminium production reached its highest level in nearly a decade in June, with output in the first half of 2024 growing by 7% as producers ramped up operations amid higher profits. According to the National Bureau of Statistics (NBS), the world’s largest aluminium producer churned out 3.67 million metric tons of primary aluminium...
READ MORERio Tinto has committed to the long-term future of its Tiwai Point aluminium smelter in Southland, New Zealand, ending years of uncertainty. The company’s New Zealand Aluminium Smelters (NZAS) recently signed 20-year power supply agreements with Meridian, Contact, and Mercury, ensuring the plant’s operation for decades to come. These agreements include demand response provisions, allowing...
READ MOREChina Molybdenum has reported a preliminary net profit of RMB 5,189-5,735 million ($726-804 million) for the first half of 2024, marking a significant increase of 638%-716% year-on-year. The company’s recurring net profit for the same period is expected to be RMB 5,375-5,941 million ($753-832 million), up an astonishing 2,343%-2,600% compared to the previous year. This...
READ MOREZinnwald Lithium PLC has announced new resource estimates for its project in Saxony, Germany, indicating a potential 50% increase in possible production. The lithium producer had previously forecasted an initial first phase production of 12,000 tonnes per annum (tpa). The updated estimates now anticipate production between 16,000 tpa and 18,000 tpa of battery-grade lithium, reflecting...
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