In the northern Idaho woods, the only U.S. cobalt mine remains inactive as its owner, Jervois Global, struggles with low cobalt prices caused by an influx of cheaper supplies from Chinese producers. The mine, set into a nearly 8,000-foot mountain, was idled in June 2023 just weeks before its planned opening, leading to over 250...
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Industry experts at the World Materials Forum in Paris last week expressed concerns about investing in critical minerals and energy transition projects, citing uncertainties surrounding consumer demand for electric vehicles (EVs) and government commitments to zero-carbon goals. While the long-term need for materials like lithium, cobalt, and copper remains clear to support a transition away...
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China Molybdenum has reported a preliminary net profit of RMB 5,189-5,735 million ($726-804 million) for the first half of 2024, marking a significant increase of 638%-716% year-on-year. The company’s recurring net profit for the same period is expected to be RMB 5,375-5,941 million ($753-832 million), up an astonishing 2,343%-2,600% compared to the previous year. This...
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Marula Mining has announced the acquisition of a 51% stake in Mansena Kruisrivier Cobalt, a South African mining entity, through its wholly owned subsidiary Muchai Mining South Africa. This move secures Marula’s involvement in the Kruisrivier Cobalt Project, located in Limpopo Province, South Africa. The Kruisrivier Cobalt Project spans over 2,340.90 hectares on the Kruisrivier...
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French mining company Eramet and German chemical giant BASF have announced the cancellation of their planned $2.6 billion joint investment in a nickel-cobalt refining complex in Weda Bay, Indonesia. The decision was made after a thorough evaluation and discussions about the project’s execution strategy. Eramet stated that it would continue to explore potential investments in...
READ MOREArdea Resources has enhanced the nickel-cobalt inventory at its Goongarrie Hub project near Kalgoorlie, Western Australia, using a high-tech mineral processing technique. This achievement has earned the company a $1.1 million grant from the Federal Government. Less than two months ago, a Japanese consortium led by Sumitomo Metal Mining and Mitsubishi Corporation committed to funding...
READ MOREDespite efforts by Western countries to reduce reliance on China for critical minerals essential for defense and green technologies, Chinese companies are becoming increasingly dominant. Their expansion and increased supply are causing global prices to drop, making it difficult for challengers to compete. “China is not just standing still waiting for us to catch up,”...
READ MOREFortune Minerals Limited has been awarded a US$6.38 million (~C$8.74 million) grant from the United States Department of Defense under the Defense Production Act Title III program. This funding aims to expand domestic cobalt production for battery and high-strength alloy supply chains, enabling Fortune to advance the NICO cobalt-gold-bismuth-copper project in Canada toward construction. The...
READ MORENickel 28 Capital has released the operational results for the first quarter of 2024 for the Ramu Nickel-Cobalt operation in Papua New Guinea. Nickel 28 holds an 8.56% joint-venture interest in Ramu, which is operated by the Metallurgical Corporation of China (MCC). For Q1 2024, Ramu produced 8,282 tonnes of contained nickel in mixed hydroxide...
READ MOREArdea Resources has entered into a 50:50 joint venture with Japan’s Sumitomo Metal Mining (SMM) and Mitsubishi to develop the Kalgoorlie Nickel Project (KNP) – Goongarrie Hub deposit in Western Australia. Recognized as one of the largest nickel-cobalt deposits in the region, the Goongarrie Hub boasts 854 million tonnes of lateritic ore with average grades...
READ MORESwiss mining behemoth Glencore has released its production figures for the first quarter of the year, revealing a mixed bag of results across its diverse commodities portfolio. The company reported that its copper production fell by 2% to 239,700 tons during the January-March period, primarily due to decreased output in Africa and the divestment of...
READ MORECMOC has announced significant increases in its copper and cobalt production for the first quarter of the year. The Chinese mining company, operating in the Democratic Republic of Congo, reported copper production of 147,500 metric tons and cobalt production of 25,200 tons in the first three months. The company’s Tenke Fungurume Mining site recently expanded...
READ MOREThe global mining industry has reported modest overall growth, with a 1% increase in production among the world’s top ten mining enterprises in 2023. However, specific companies are setting the pace for 2024, notably Luoyang Molybdenum, which is projected to lead with an impressive 150,500 tons of new copper production. Challenges persist in the industry,...
READ MOREIndia is set to hold a significant auction in June, offering 20-30 blocks of strategically important minerals as the country’s demand for essential resources continues to surge. Kantha Rao, the Secretary of the Ministry of Coal and Mines, highlighted this initiative in discussions with the *Financial Times*, noting the auction’s crucial role in meeting India’s...
READ MOREEurasian Resources Group (ERG), a diversified natural resources group based in Luxembourg, has signed a Memorandum of Understanding with Taiwan-based Mechema Chemicals International Corp and Japan’s Marubeni Corporation. This strategic partnership aims to explore opportunities in the cobalt supply chain, crucial for the burgeoning electric vehicle market in Japan and globally. The collaboration will focus...
READ MOREDiscovEx Resources has announced plans to acquire Latitude 66, an unlisted Australian public company. Latitude 66 is notable for holding substantial gold and cobalt assets in Finland through its wholly owned subsidiary, Latitude 66 Cobalt Oy. This strategic acquisition positions DiscovEx in Finland’s robust mining sector, home to Europe’s largest gold operation and a significant...
READ MOREElectra Battery Materials has entered into a significant agreement to bolster the North American battery supply chain by securing a deal with Eurasian Resources Group. This partnership marks a strategic move to process cobalt hydroxide at Electra’s battery-grade cobalt sulfate refinery located north of Toronto, Canada. The collaboration aims at reducing North America’s dependency on...
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Cobalt Blue Holdings is making significant progress in developing Australia’s first Cobalt Sulphate Refinery, marking key milestones in its journey towards enhancing the country’s position in the global battery supply chain. The company has successfully processed large-scale feedstock samples from third parties and initiated detailed engineering design for the refinery, with permitting processes set to...
READ MOREIndia is actively seeking collaborations with leading critical mineral producers worldwide, including the United States, Australia, the United Kingdom, South Korea, and Japan, to import processing technology into the country. This initiative aligns with India’s strategy to auction critical mineral mines and emphasizes the government’s ambition to establish domestic processing facilities for these valuable resources....
READ MOREThe United States, aiming to strengthen its ties with crucial mineral suppliers, engages in frequent discussions with the Democratic Republic of Congo’s state-owned mining company, Gecamines. This interaction underscores Washington’s intent to secure supply lines for vital minerals like cobalt and copper, essential for electric vehicle batteries and other electronics, amidst increasing Chinese investments across...
READ MORENanjing Hanrui Cobalt, a leading cobalt producer in China, has dispelled market rumors about a production halt at its Jiangxi plant, affirming that operations continue as normal. Amidst speculation that an incident had disrupted production, Huang Yunyue, the company’s general counsel and operations manager, clarified to Reuters that Hanrui maintains a steady monthly output of...
READ MOREJervois Global, an Australian mining company, is implementing significant cost-reduction strategies, including job cuts, in reaction to a substantial drop in cobalt prices, which the company attributes to an oversupply from China. The firm has reduced or transitioned to part-time roles for 30% of its senior corporate management and decreased the fees for non-executive directors...
READ MOREGlencore, the Swiss-based global commodities powerhouse, witnessed a significant 75% drop in profits last year, with earnings falling to $4.3 billion from a record $17.3 billion in 2022. This decline is attributed to the decrease in metal prices following the economic aftershocks of Russia’s invasion of Ukraine. Despite the downturn, Glencore’s adjusted earnings before interest,...
READ MORERimfire Pacific Mining has launched a 4,000-metre aircore drilling program at its Murga Scandium Prospect, located within the company’s Fifield Project, roughly 70 kilometres northwest of Parkes in the Lachlan Orogen region of central New South Wales. The drilling at Murga aims to delineate the extent and continuity of scandium mineralization, following on from previous...
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