Peruvian protesters have threatened to disrupt operations at Glencore’s Antapaccay and MMG’s Las Bambas copper mines, demanding fresh general elections, the country’s La Republica newspaper has reported. The protests were triggered by the impeachment and detention of the South American country’s former president Pedro Castillo. The demonstrators are demanding early presidential elections and the closure of Congress. Seven protesters were...
Staff Writer
Recycled lead and battery end products to be supplied to Glencore
Glencore is to sign a long-term agreement with recycling technology firm ACE Green Recycling, whereby the latter will supply recycled lead and key metal-based battery end products from recycled lithium-ion batteries. Under the 15-year agreement, Glencore will receive up to 100% of ACE’s products from four of its proposed lead-acid and lithium-ion battery recycling parks in the US, India and...
Glencore shows record profits despite USD 1.6 billion in fines
Switzerland-based mining company Glencore has said it will pay USD 180 million to the Democratic Republic of Congo to settle corruption claims. The Congo payout is the latest in a series of corruption cases which has seen Glencore agree to pay out more than USD 1.6 billion in fines this year. Despite the fines, Glencore is expected to make record...
Nickel price surge threatens to create USD 2.6 billion loss for key LME entity, new report shows
Analytics recap. Nickel. Early December. Based on analysis by the Financial Times. The London Metal Exchange (LME) clearing house, a crucial organization created to stop problems in one market from spreading to the wider financial system, was in danger of failing in March, according to judicial files disclosed this week. According to the documents, the LME’s clearing house suffered a...
Largest deficit in decades on the cards for silver
Global demand for silver is expected to rise 16% this year to 1.21 billion ounces, creating the biggest deficit in decades. Who The US-based Silver Institute states that the use of silver by industry for jewelry and silverware, and for bars and coins for retail investors are all forecast to reach record levels. As demand grows, a deficit of 194...
Nickel prices rise amid falling supplies and market volatility
Analytics recap. Nickel. Mid-November. Based on analysis by the Financial Times. Nickel prices have reached a six-month high, in a continuation of the market deterioration that has been observed since March. On Monday, the three-month nickel contract briefly hit a daily trading limit of 15%, reaching nearly USD 31,000 per tonne. This was followed by a 5% increase on Tuesday...
Lithium cartel may shift global power balance
The countries holding a majority of the world’s known resources for manufacturing batteries are considering forming a cartel based on the OPEC model in the face of growing demand and surging prices. Who There’s growing interest in a lithium OPEC in the ‘Lithium Triangle’, a colloquial term for Argentina, Bolivia and Chile, which are home to 58% of the world’s...
Coeur Mining sale of Nevada asset to AngloGold pushes stocks higher
Coeur Mining announced the closure of the sale of its southern Nevada assets on 4 November. The Sterling and Crown exploration sites, which occupy a land area of 14,365 ha, will be purchased by a subsidiary of AngloGold Ashanti (NYSE: AU). AngloGold has existing gold projects in the Beatty area of Nevada, making the purchase a strategically important one.The Sterling...
New platinum-based catalyst shows great promise in dealing with methane emissions
A new palladium and platinum catalyst shows great promise in eliminating methane emissions from various human activities. The major advantage over other catalysts is its ability to work in the presence of water vapor, which is always present during natural gas combustion. Who Researchers at the Universitat Politècnica de Catalunya outlined their findings in a paper published in the Nature...
New copper centre to boost cable recycling in Finland
A new recycling facility is set to turn the Finnish town of Heinola into an aluminium and copper processing hub. The plant, whose construction costs are estimated at 7 million euros, will begin operating next year. The facility consists of a pre-crushing line and a separation line. The operations will have a production capacity of about 2.5 tons per hour,...