China’s refined copper imports have surged, reaching a year-high in October, despite a manufacturing sector that is struggling to gain momentum. The increase in imports, including a backlog clearance from the Democratic Republic of Congo, raises questions about the destination of this influx in copper. Copper Import Trends October saw China import 353,000 metric tons of refined copper, the highest...
The works council of Alcoa San Cibrao factory, located in Cervo, Spain, expressed strong confidence in the planned restart of the aluminum production on January 1, 2024. This restart is in line with the agreement reached between the worker representatives and the multinational company’s management. Preparations for Restart Underway José Antonio Zan, President of the Works Council, assured that 32...
Pilot Plant Launch in UAE Emirates Global Aluminium, the UAE’s primary industrial entity outside oil and gas, has started a pilot plant to convert bauxite residue into manufactured soil. This project represents a major advancement in addressing the environmental impacts of bauxite residue, a byproduct of aluminum production. Objective and Potential Impact Abdulnasser bin Kalban, the CEO of EGA, emphasized...
The Salvadoran government, led by Foreign Affairs Minister Alexandra Hill Tinoco, has called for a humanitarian corridor for truckers stranded amidst ongoing protests in Panama against First Quantum Minerals’ Cobre Panama mine. Protests Escalate in Panama Protests, which began in mid-October, have escalated recently, with reports of activists attacking mine workers. The unrest has disrupted crucial supplies to the mine,...
Invitations to Industry Leaders Nickel Industries is actively inviting major electric vehicle (EV) and battery manufacturers, including Tesla and Panasonic, to visit its Indonesian operations. The Australian company is in the process of expanding its nickel production capabilities to cater to the EV industry. Focus on High Purity Nickel Production The company is developing a $2.3 billion facility in Morowali,...
Reduced Operation Rates and Market Challenges South Korea’s leading copper foil producers, SK Nexilis Co. and Lotte Energy Materials Corp., have reported reduced operation rates in their factories due to intense price competition and a slowdown in electric vehicle (EV) demand. SK Nexilis, a subsidiary of SKC Ltd., saw its factory operation rate drop to 61.6% in Q3 from 88.1%...
Easing of Refined Copper Shortage The global refined copper market saw a slight easing in shortages as of September, with the oversupply diminishing significantly from August’s 99,000 tons to approximately 17,000 tons. This data, provided by the International Copper Study Group, indicates a near balance in the supply and demand for refined copper. However, the oversupply remains around 35,000 tons...
Project Milestone and Operations Readiness Al Hadeetha Resources, an Omani-Australian joint venture, is set to initiate copper concentrate production from its project in Al Sharqiyah North Governorate, Oman. Al Hadeetha, 51% owned by Australian mining exploration company Alara Resources, is poised to start operations following over five years of development since receiving a mining license under Oman’s modernized mining law...
Mixed Movements in Copper Prices Copper prices in London experienced a slight dip on Friday but are on track for a second consecutive weekly gain. The London Metal Exchange (LME) recorded a 0.2% decrease, placing copper at $8,390.50 per metric ton as of 0724 GMT. Despite this, the metal has seen an overall 1.5% increase for the week. In contrast,...
Expansion Project Progress Vale, Brazil’s mining giant, has successfully increased the production capacity of its Salobo mine to 32 million tonnes per annum. This development is part of the first phase of the Salobo III expansion project, which began in 2019 with a budget of $1.1 billion. The project aims to further boost the mine’s capacity to 36 million tonnes...
