Minmetals Resources announced on July 8, 2024, that its subsidiary MMG Dugald River Pty Ltd has entered into a sales agreement with Minmetals North-Europe for the sale of approximately 10,000 dry metric tons of zinc concentrate. This quantity may vary by 10% at the seller’s discretion. Minmetals North-Europe is a wholly owned subsidiary of China...
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Meeka Metals has secured critical mine dewatering and clearing permits for its fully-owned Murchison project in Western Australia’s Mid West region. With mining permits expected early in September, the company moves closer to initiating gold production. The management has drawn down $1.34 million from a $2.2 million secured bridging loan to purchase the necessary camp...
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Vital Metals has decided against selling its stockpile of Canadian-mined rare earth elements to China. Instead, the Australian-owned company will sell its stockpile to the Saskatchewan Research Council (SRC) for $3 million. The new agreement, facilitated by Natural Resources Canada, underscores the strategic importance of keeping Canadian resources within the country. Vital Metals, which operates...
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Ardea Resources has initiated a $98.5 million definitive feasibility study (DFS), fully funded by a Japanese consortium, for its expansive Goongarrie Hub nickel project located 70km northwest of Kalgoorlie in Western Australia’s Eastern Goldfields region. This funding deal involves Japanese industry giants Sumitomo Metal Mining and Mitsubishi Corporation, who will receive a 50% stake in...
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Goldstone Resources announced on Monday that enhancements to the processing plant at its Homase mine have led to improved operational performance. Following this update, the company’s shares more than doubled, rising to 1.95 pence each in London from Friday’s close of 0.68 pence. Goldstone, which focuses on gold production and exploration in Ghana, holds a...
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Calibre Mining has announced that the Nicaraguan authorities have granted the necessary environmental permits for the development and production of the open-pit mines at the Volcan gold deposit, located approximately 5 km south of the Libertad mill. Darren Hall, President and Chief Executive Officer of Calibre, commented, “The approval of the Volcan permit demonstrates the...
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Jefferies has forecasted a likely increase in copper and aluminum prices over the medium term, driven by rising demand from electrification, a growing global economy, and supply constraints. The U.S. bank recommends buying shares of preferred copper and aluminum producers, including Freeport-McMoran, Teck Resources, Lundin Mining, Alcoa, and Glencore. According to Jefferies, potential Fed rate...
READ MOREDespite its relatively small scale compared to the massive mining operations in Western Australia, Tasmania’s mining industry remains the state’s largest export earner, generating $2.8 billion, or about two-thirds of Tasmania’s export output by value. The sector employs nearly 6,000 Tasmanians, offering well-paid jobs compared to other industries and contributing around $60 million annually in...
READ MORERio Tinto’s Carbon-Free Aluminum Production Arvida Smelter Project Rio Tinto Corporation plans to produce carbon-free aluminum at its Arvida smelter in Canada by installing inert anode electrolyzers. A pilot line with ten electrolyzers is set to be designed and commissioned, leveraging a technology license from Elysis, a joint venture between Rio Tinto and Alcoa. Investment...
READ MORECopper prices in London surged to their highest in over three weeks on Friday, marking the first weekly gain in seven weeks. This rise is driven by the positive outlook on U.S. interest rates, which has bolstered sentiment towards growth-dependent metals.By 0938 GMT, three-month copper on the London Metal Exchange (LME) had risen 0.6% to...
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China’s MMG has announced the suspension of operations at a mill at its Dugald River zinc mine in Australia for approximately two months to conduct repair work. This was confirmed by MMG in an email to Reuters on Friday. While the production of concentrate has ceased, mining operations will continue, allowing the company to build...
READ MOREWest Java has officially become the home of Southeast Asia’s largest and first electric vehicle (EV) battery cell factory. President Joko Widodo inaugurated the PT Hyundai LG Indonesia (HLI) Green Power plant located in Karawang New Industry City (KNIC), Teluk Jambe Barat, Karawang Regency, on July 3. Before the inauguration, President Widodo toured the HLI...
READ MOREThe Mykolaiv Alumina Plant, previously managed by Russian Aluminum (Rusal) and now under the State Property Fund (SPF) of Ukraine, needs stabilization, according to Vitaliy Koval, Head of the SPF, after visiting the site. “Our main goal is to stabilize the situation in and around the enterprise. I am personally convinced that the plant is...
READ MORESwiss commodity trading and mining giant Glencore has received formal approval from the Canadian government for its acquisition of Teck Resources’ steelmaking coal business, concluding an eight-month review period. This approval marks a significant development for Glencore, but an equally important development is the Canadian government’s new policy on foreign acquisitions in the critical minerals...
READ MORECapesize daily rates soared by 10% on July 2, surpassing the $30,000 mark, as reported by Splash247. This surge is attributed to record-breaking bauxite shipments from West Africa to China. Guinea, home to the world’s largest bauxite reserves, has seen a sharp rise in demand from China. Bauxite, the primary source of aluminum, is essential...
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Saga Metals has executed an option to joint venture agreement with Rio Tinto Exploration Canada (RTEC) for its Legacy Lithium Project in the James Bay Lithium District. Under this agreement, RTEC has the option to acquire an initial 51% interest in the Legacy Lithium Project over four years, subject to meeting specific conditions. To exercise...
READ MOREDoré Copper Mining has entered into an agreement with SOQUEM to acquire a 56.41% interest in a group of contiguous claims located immediately north and east of its flagship high-grade Corner Bay copper project in the Chibougamau mining camp, about 55 kilometers by road from Chibougamau, Québec. The Claim Group consists of 17 claims covering...
READ MOREBritish startup Nyobolt has announced a breakthrough in battery technology, revealing that their new batteries can be charged in just five minutes. This development, reported by CNN, is made possible through the incorporation of niobium in the creation of a lithium-ion battery with a 35 kilowatt-hour capacity. During tests, the battery was charged from 10...
READ MOREMontreal-based Midland Exploration Inc. has announced the start of a major exploration program for nickel and copper in Nunavik, Quebec. This initiative is part of its strategic alliance with BHP Group, formalized in August 2020. The exploration follows several years of groundwork, including the discovery of new Ni-Cu-Co mineralized showings from 2020 to 2023. The...
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SQM, a major player in the lithium market, is making significant strides in expanding its lithium production capabilities beyond Chile under the leadership of Mark Fones Illanes, Vice President of Development and M&A. Fones, who joined SQM in 2003, has been instrumental in driving these international ventures. In Sweden, SQM has partnered with Talga Group...
READ MOREObeikan Group has executed a Shareholder Agreement and a Deed of Assignment for the development and operation of a lithium hydroxide processing plant in the Kingdom of Saudi Arabia. The joint venture company, Arabian New Energy, is progressing towards incorporation pending successful registration and approval by the KSA Regulatory Authorities. European Lithium has announced this...
READ MOREGlencore has decided to withdraw its plans to sell its 70% stake in the Kazakh mining company Kazzinc, according to sources reported by Bloomberg News. The mining giant had been considering an exit and had attracted interest from Chinese buyers. However, the bids received were deemed too low, leading Glencore to call off the deal....
READ MORERio Tinto is currently negotiating with workers at its Oyu Tolgoi copper operations in Mongolia following a strike in May triggered by substantial wage reductions. The strike was a response to changes in Mongolia’s Labour Law, effective from the start of 2022, which led Rio Tinto to adjust employee allowances, resulting in wage cuts of...
READ MORERio Tinto has become the largest shareholder in Perth-based Sovereign Metals, increasing its stake to 19.76%. The mining giant invested $18.48 million in Sovereign Metals, a company focused on projects in Malawi, by exercising approximately 34.54 million share options. This investment secures Rio Tinto the same number of new fully paid ordinary shares in Sovereign...
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