Ivanhoe Electric has provided an update on the Santa Cruz Copper Project in Arizona, where it continues to make strides towards project development. The company remains on schedule to complete its Preliminary Feasibility Study (PFS) by the second quarter of 2025. This study, which is now 50% complete, will be critical for Ivanhoe Electric’s decision-making and pursuit of long-term financing...
Base Metals
Boliden Reportedly Eyeing Purchase of Sweden’s Zinkgruvan Mine from Lundin Mining
Swedish mining company Boliden is reportedly in discussions to acquire the Zinkgruvan mine, located in Askersund municipality, from Lundin Mining, according to a report by Dagens industri. This comes after Lundin Mining’s CEO, Jack Lundin, confirmed earlier this week that the company is looking to sell its European assets, including the Neves Corvo zinc and copper mine in Portugal and...
Zambia’s Mines Rely on Eskom as Hydropower Crisis Threatens Kariba Dam Shutdown
Zambia’s largest mines are turning to South Africa’s Eskom Holdings to combat a severe energy crisis caused by a historic drought. This crisis has depleted the country’s hydropower resources, threatening the shutdown of the Kariba Dam, the world’s largest man-made reservoir, which supplies the majority of Zambia’s power. The drought has reduced power generation, leaving households with only three hours...
Ma’aden Completes Acquisition of Remaining Shares in Key Bauxite and Aluminum Units
Saudi Arabian Mining Company (Ma’aden) has announced a major acquisition deal to purchase the remaining shares of Ma’aden Bauxite and Alumina Company (MBAC) and Ma’aden Aluminium Company (MAC), previously held by subsidiaries of Alcoa Corporation. The Share Purchase and Subscription Agreement (SPSA), signed on September 15, 2024, will allow Ma’aden to acquire a 25.1% stake in both MBAC and MAC,...
Nickel Price Uptick Boosts Optimism for DMCI Mining After Tough First Three Quarters
DMCI Mining is expecting a recovery in its nickel mining business, driven by a recent uptick in global nickel prices, according to the company’s president, Tulsi Das C. Reyes. The first three quarters of 2024 were marked by significant challenges, with prices dropping by 40% to 50%, but the last 30 to 45 days have shown signs of improvement. “Our...
True North Copper Delivers First Oxide Ore at Wallace North, Cloncurry Copper Project
True North Copper has successfully ramped up mining activities at its Wallace North deposit, part of the Cloncurry Copper Project (CCP) in Queensland. The company remains on track to become Australia’s next copper producer and critical metals supplier by the first quarter of 2025, as CCP progresses toward restarting operations. To date, approximately 155,000 bank cubic metres (BCM) of overburden...
Weekly Metals News Digest – September 9-13
Japan Develops Innovative Alloy for Aviation Researchers at Japan’s National Institute of Materials Science have created an alloy of titanium and nickel that combines the strength of steel with the elasticity of rubber. In experiments, the alloy was elongated by 50% and then further stretched by 12% after being heated to 300°C. This process resulted in the alloy being able...
Uzbekistan’s Copper Tube Production Soars by 33.9% in First Seven Months of 2024
From January to July 2024, Uzbekistan’s copper tube production surged by 33.9% year-on-year, reaching 17.4 thousand tons, according to the country’s Statistical Agency. In July alone, production amounted to 2.5 thousand tons, reflecting the growing capacity of the sector. Uzbekistan’s metal exports also saw a significant boost, with the country exporting $84.3 million worth of metal products by early August,...
Russian Aluminum Exports to South Korea Reach Record Levels in July
In July 2024, Russia reclaimed its position as the top aluminum supplier to South Korea, increasing exports by 48% compared to June, reaching 29.8 thousand tons, according to reports from *RIA Novosti*. This marked the highest volume since March and amounted to $78 million in shipments. Russia had previously been the leading supplier in March but dropped to second through...
Doosan Completes Construction of High-End Copper Foil Plant for Automotive Electronics and 5G
South Korea’s Doosan Corporation has completed the construction of a state-of-the-art copper foil plant, which will produce materials essential for automotive electronic components and 5G communication equipment. The company held a ceremony on Thursday to mark the completion of the high-end flexible copper-clad laminate (FCCL) plant at the Horizon Industrial Complex in Gimje, North Jeolla Province. The new facility spans...