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...
Sophia Schmitz
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...
Intergeo Plans $230 Billion Investment in Ak-Sug Copper Deposit, Awaits License Dispute Outcome
Golevskaya GRK, a subsidiary of Intergeo, has announced plans to invest 20 billion rubles in the Ak-Sug porphyry copper deposit in Tuva by the end of 2024, contingent upon a favorable resolution of its ongoing litigation with Rosnedra regarding the license for the deposit. As of April 30, 2024, investments in the project had reached over 33 billion rubles. The...
Green Battery Minerals Announces Impacts of New U.S. Tariffs on Chinese Imports
Green Battery Minerals announced that the White House confirmed President Biden has signed an Executive Order establishing a 25% tariff on Chinese imports, including natural graphite. These tariffs, set to take effect in 2026, will see the rate on natural graphite rise from 0% to 25%. The tariffs aim to bolster domestic manufacturing in critical industries. The rate on lithium-ion...
Weekly Metals News Digest – June 10-14
Albemarle’s Efforts to Strengthen U.S. Lithium Sovereignty Kings Mountain Lithium Mine Project Albemarle Corporation held public hearings on the Kings Mountain lithium mine project, located at one of the largest pegmatite deposits in the United States. The project aims to produce approximately 420,000 tons of spodumene concentrate annually. The initiative includes utilizing a former mica mine for waste storage and...
Asante Gold Set to Ship Key Equipment for Bibiani Sulphide Recovery Plant
Asante Gold Corporation has announced that the principal long-lead equipment for the Sulphide Recovery Plant at the Bibiani Gold Mine is expected to be shipped by mid-August 2024. The new facility is crucial for Asante’s strategy to increase gold production at Bibiani to over 250,000 ounces annually, aiming for a cumulative production of 1.2 million ounces over the next five...
Trigon Metals Reports Record May Production and FY2025 Guidance
Trigon Metals Inc has announced highlights of its May 2024 underground production at the Kombat mine and provided production guidance for the remainder of its 2025 financial year (FY2025). In May 2024, the Kombat mine achieved several record-breaking underground mining days, resulting in an average production of 12.1 tonnes of copper per day. The total underground ore mined for the...
Spot Gold Dips Below $2310 Amid Fed’s Hawkish Tone
On Thursday, spot gold prices in the Asian market dropped, dipping below the $2310 mark and hitting a low of $2308.03 per ounce, down about $16 from Wednesday’s closing price. Analysts attribute this decline to hawkish comments from Fed Chairman Jerome Powell. FXStreet analyst Christian Borjon Valencia pointed out that gold’s technical picture shows a head-and-shoulders pattern, suggesting further declines....
KIGAM and SK ecoplant Secure Lithium Exploration Rights in Kazakhstan
The Korea Institute of Geoscience and Mineral Resources (KIGAM) and SK ecoplant Co. have secured the rights to explore four lithium mines in Kazakhstan. These mines are estimated to contain approximately 25,000 tons of lithium, enough to produce batteries for around 3.3 million electric vehicles. KIGAM announced on Thursday that it signed a multilateral memorandum of understanding (MoU) with SK...
Century Lithium Files Feasibility Study Report for Clayton Valley Project
Rain City Resources Acquires Avonlea Lithium to Revolutionize Lithium Extraction Rain City Resources has entered into a binding agreement to acquire up to a 100% interest in Avonlea Lithium Corp. Avonlea, based in Calgary, Alberta, has developed an innovative approach to Direct Lithium Extraction (DLE) called the “Advanced Chemical & Cavitation Extraction of Lithium” (ACCELi) process. This new method has...