In a strategic effort to enhance its production capabilities, SK Nexilis is aiming to attract an investment of 1 trillion won (approximately $740 million) to expand its facilities in Europe. This move comes as the company faces financial challenges and seeks to strengthen its position in the global copper foil market. According to the investment banking sector, SK Nexilis, a...
Sophia Schmitz
Pan Asia Metals Identifies Promising Lithium Zone in Southern Thailand
Initial reports from soil and rock chip sampling at Pan Asia Metals’ KT East lithium prospect in southern Thailand have identified a highly-prospective zone rich in lepidolite pegmatites, extending approximately 1.5km in length and 500m in width. The KT prospect, located 35km north of Pan Asia’s RK and BT prospects, already shows a larger footprint than those two areas combined....
Gold Prices Edge Up on COMEX Amid West Asia Geopolitical Tensions
Gold prices on the COMEX saw a slight increase today, driven by escalating geopolitical tensions in West Asia, which are prompting investors to seek protective assets. “Geopolitical concerns are escalating and will most likely be behind a new near-term bull unfolding soon,” Peter Cardillo of Spartan Capital Securities noted. However, the prospect of higher-than-expected inflation has delayed expectations for rate...
Solar Tech and TOPAK International Launch Pakistan’s First Lithium-Ion Battery Manufacturing Plant
Solar Tech, in collaboration with TOPAK International, inaugurated TOPAK PAKISTAN, marking the first manufacturing venture for lithium-ion batteries in Pakistan. This significant event heralds a new era in sustainable energy solutions for the country. The launch event was attended by notable figures including Mr. Peter Ko, CEO of TOPAK China; Mr. Shahid Awan, CEO of Solar Tech and TOPAK Pakistan;...
Alcoa Appoints New Head for Australian Operations Amid Key Acquisition
Alcoa Corporation has appointed BHP veteran Elsabe Muller as its new Australia president and vice president of operations. Starting in October, Muller will oversee Alcoa’s bauxite mining, alumina refining, and aluminium smelting activities in Western Australia and Victoria. Muller, currently BHP’s group HSE officer responsible for health, safety, security, and environmental practices, will succeed interim Australia president Tanya Simmonds. Her...
Vale Confirms Copper Production Guidance Despite Fire Incident
Vale announced on Wednesday that it has not identified any factors that would alter its copper production guidance for 2024. The company assured that its production forecast remains between 320,000 to 355,000 metric tons, with no expected impact on copper sales in the second quarter. The Salobo 1 and 2 plants are continuing normal operations. The update follows a fire...
K92 Mining Secures New Credit Facilities and Offtake Agreement with Trafigura
K92 Mining and its Papua New Guinea subsidiary have entered into two separate credit facilities with Trafigura, replacing the previous $100 million loan agreement with an upsized amount of $120 million. This new arrangement includes an option to increase the total available credit to $150 million. The funds from these facilities are intended for general corporate purposes, working capital, and...
Botswana’s Economy Faces Challenges in Meeting 4.2% Growth Target
Botswana’s economy may not achieve the government’s projected growth target of 4.2% for this year, according to a senior central bank official. The central bank cited both global and domestic challenges as key constraints. Finance Minister Peggy Serame had forecast a 4.2% GDP increase in a budget speech in February, anticipating a boost from the diamond sector. The country’s GDP...
Silver Prices Dip Amid Rising Treasury Yields and Fed’s Hawkish Stance
Despite the dollar’s weakness, spot silver prices faced a decline on Monday, approaching the crucial $29.00 per ounce mark. According to FXStreet analyst Christian Borjon Valencia, the technical outlook for silver indicates further potential weakness. Valencia notes that the rise in US Treasury yields, driven by hawkish comments from Fed officials, has exerted downward pressure on silver prices. The first...
BHP Billiton Focuses on Maximizing Copper Extraction Amid Global Challenges
Anna Wiley, head of BHP Billiton’s South Australian copper division, highlighted the increasing difficulty of finding and extracting copper globally at a recent industry conference. Wiley emphasized the company’s intensified efforts to extract as much copper as possible from its existing operations in a more cost-effective manner. “The challenges of finding and extracting copper globally have increased our focus on...