The discovery of palladium and its early uses Palladium is one of the rarest and most valuable metals on the planet – it’s 30 times more scarce than gold. The history of this metal begins in 1802, when English chemist William Hyde Wollaston discovered a new substance while dissolving platinum in a mixture of nitric...
READ MORELeading African mining group Bravura, a sister company to AITEO, Africa’s largest indigenous oil and gas producer, has announced plans to establish a large-scale lithium processing plant in Germany by 2027. The plant will produce lithium hydroxide, a key component in electric vehicle (EV) batteries, through a unique African-German supply chain. The final location for...
READ MOREFrench aluminium oxide producer Alteo has confirmed the acquisition of white corundum producer Niche Fused Alumina (NFA), a move approved by the commercial court of Chambery. Alteo, which employs 380 people and generates approximately EUR 180 million in revenue, has been a long-standing supplier and partner in research and development (R&D) with NFA. This acquisition...
READ MOREStillwater Critical Minerals has signed a Letter of Intent (LOI) with Granite Creek Copper, allowing Granite Creek to acquire a 90% interest in the Duke Island copper-nickel-platinum-palladium (Cu-Ni-PGE) project. The all-share transaction aligns with Stillwater’s strategic focus on its flagship Stillwater West project in Montana. The Duke Island project, located in the Alexander Platinum Belt...
READ MOREAccording to an October 23 report, despite the ongoing closure of nickel mines in Australia, raw nickel production in the Asian market has continued to rise into the fourth quarter of 2024, leading to weak pricing. Declining sales of power batteries in China and subdued demand for stainless steel have further contributed to a bearish...
READ MORETight supply, improving demand in China, and falling inventories are expected to push zinc prices up by around 8% in the short term, analysts say. The zinc market has faced mine setbacks this year, tightening zinc ore and concentrate supplies, noted Daniel Hynes, senior commodity strategist at ANZ Research. Sibanye-Stillwater recently suspended operations at its...
READ MOREThe United States has approved the construction of a significant new lithium mine in Nevada and extended tax incentives to mining companies as part of a broader strategy to break China’s grip on critical mineral supply chains. Australian producer Ioneer announced on Thursday that it received federal permission for its Rhyolite Ridge lithium-boron mine, a...
READ MOREThe price of palladium on the world market has surged to $1,170 per troy ounce for the first time in ten months, driven by concerns over potential new sanctions on Russian exports. On October 24, the price jumped by more than 10% in a single day, outpacing other precious metals and reflecting market fears about...
READ MOREWestern sanctions on Russian zinc miner Ozernoye have left the company struggling to replace essential equipment required to increase output, according to multiple sources familiar with the situation. As a result, predictions for global zinc supply in 2025 may be overstated, heightening concerns in a market already facing supply shortages. Ozernoye officially launched production in...
READ MOREAsset management firm Coronation has reversed its stance on the platinum group metals (PGMs) sector, deciding to reinvest after initially pulling out a year ago due to concerns that the industry was facing a decline. The firm’s change of heart is largely attributed to the recent slowdown in the adoption of battery electric vehicles (EVs),...
READ MOREGautam Adani-controlled Kutch Copper is reportedly in discussions with Australian mining giant BHP to secure a substantial copper concentrate supply. According to a report by The Economic Times, the potential agreement could involve up to 1.6 million tonnes per annum (mtpa) of copper concentrate. The deal is projected to be worth approximately Rs 30,000 crore...
READ MOREOn Wednesday, October 23, spot gold prices fell sharply, dropping more than 1% after hitting a record high earlier in the day. The decline came as the U.S. dollar strengthened, U.S. bond yields rose, and tensions in the Middle East appeared to ease, prompting investors to take profits. Spot gold closed down \$33.44, or 1.22%,...
READ MORENewmont, the world’s largest gold producer, reported its highest quarterly profit in five years, driven by a surge in gold prices. Despite the profit jump, shares of the company fell after both sales and earnings missed analysts’ expectations. In the third quarter, the Denver-based company’s net income attributable to shareholders was \$922 million, nearly six...
READ MOREThe company released its third-quarter report for 2024, revealing revenue of 9.919 billion yuan ($1.36 billion), a year-on-year decline of 16.86%. Net profit attributable to shareholders was 217 million yuan ($29.8 million), while net profit after deductions stood at 135 million yuan ($18.5 million). Despite the overall revenue decline, the profitability of the pre-baked anode...
READ MOREVolt Lithium has announced the successful production of battery-grade lithium carbonate from its field operations in the Permian Basin, West Texas. The development marks a major achievement for Volt as it positions itself as one of North America’s pioneering producers of lithium from oilfield brine. “Successfully producing battery-grade lithium carbonate from the Permian is another...
READ MORENickel prices are expected to remain under pressure due to a substantial market surplus and the recent discovery of nickel at the Wedei prospect in Papua New Guinea (PNG), according to analysts. Research agency BMI, a unit of Fitch Solutions, has revised its 2024 forecast for nickel prices down from $18,000 per tonne to $17,300...
READ MOREFreeport-McMoRan, a leading mining company, reported third-quarter profit results that surpassed analysts’ expectations, driven by higher copper prices that helped offset a decline in production. The average realized price for copper during the quarter rose to $4.30 per pound, compared to $3.80 per pound in the same period last year. This increase was attributed to...
READ MOREPolish mining giant KGHM reported mixed results for its production and sales in September 2024, according to a market filing on its preliminary figures. The company’s copper sales reached 65,600 tonnes, representing an 8% year-on-year increase, while payable copper production rose by 3% to 61,400 tonnes. Silver production experienced a decline, with payable silver output...
READ MOREGlencore’s Antapaccay copper mine in Peru has reported significant improvements in copper recovery after upgrading its flotation cells. The mine, which produces approximately 160,000 tonnes of copper concentrate annually, partnered with Metso to enhance its flotation circuit and address existing inefficiencies. The Antapaccay flotation circuit, commissioned in 2012 and expanded in 2019, faced challenges such...
READ MORERussian mining company Seligdar has reported a 5% decrease in gold production from January to August 2024, totaling 5.94 metric tons. The decline in output was attributed to the scheduled processing of previously mined and stockpiled ore and the completion of operations at the Lunnoe deposit. Ore extraction also dropped significantly by 33%, reaching 6.2...
READ MORESwedish mining group Boliden reported a stronger-than-expected rise in core earnings for the third quarter, citing solid production and improving metal prices. Boliden’s third-quarter operating profit, excluding the revaluation of process inventory, reached 3.0 billion Swedish crowns ($274.3 million), up from 1.9 billion crowns during the same period last year. The result came in above...
READ MOREGlobal primary aluminium production, including estimated figures for China, totaled 6.007 million tonnes in September 2024, an increase compared to 5.930 million tonnes in the same month last year. This corresponds to an average daily output of 200,200 tonnes, up from 197,700 tonnes per day in September 2023, and unchanged from the previous month. The...
READ MOREVSMPO-AVISMA reported a 0.44% decrease in revenue under Russian Accounting Standards (RAS) for the period of January to September 2024, totaling 72.3 billion rubles ($769 million), compared to the same period last year. The company’s cost of sales rose by 17.5% to 48.609 billion rubles ($517 million), according to its financial statements. Key profit metrics,...
READ MOREIndonesia has announced a joint venture with China’s Contemporary Amperex Technology (CATL) to invest $1.2 billion in battery production, furthering its ambitions to become a global hub for electric vehicles (EVs). The Chinese battery giant, through its subsidiary CBL International Development, has formed the venture with government-owned Indonesia Battery Corporation, according to Bloomberg. The project,...
READ MORE
