Merging Titans: A Closer Look at BHP Group’s Intentions and the Global Metals Market BHP Group’s Merger Proposal to Anglo American International mining giant, BHP Group, has proposed a merger with its rival, Anglo American. The proposed deal is valued at approximately $39 billion. BHP Group, with a market valuation of $149 billion, aims to...
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The Russian Federal Subsoil Resources Management Agency (Rosnedra) has early terminated the mining licenses of Mednogorsky Medno-Sulfur Combine (MMSC) for the Yelanskoye and Yelkinskoye copper-nickel deposits in the Voronezh Region. This action follows MMSC’s own application for license termination, citing economic reasons as the basis for discontinuing operations at these sites. As reported by Rosnedra,...
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Nornickel, the world’s largest supplier of refined nickel and palladium, confirmed operational plans for this year in a report highlighting mixed first quarter results. The group’s production of nickel, used in stainless steel and high capacity batteries, was down by 10% to 42,101 thousand tonnes, while production of copper, a key metal for power utilities,...
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According to the International Nickel Study Group (INSG), global primary nickel production is projected to fall by 5.6% to 3.356 million tonnes in 2024, following a significant increase of 16.1% last year which saw production levels reach 3.554 million tonnes. This forecast does not account for any major operational disruptions that could further impact production...
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...
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Saudi Arabia is making significant strides in the global mining sector as part of its broader strategy to diversify its economy beyond oil. The nation has recently launched several initiatives to enhance its presence in the international mining landscape, supporting the ambitious Vision 2030 and National Transformation Plan. In January 2023, Saudi Arabia established Manara...
READ MOREUS Sanctions Impact Russian Non-Ferrous Metals US Treasury Implements Sanctions on Key Metals The US Treasury Department has initiated a significant policy by banning the import of three non-ferrous metals from Russia: aluminum, copper, and nickel. This decision prohibits US companies from engaging in any buying or selling activities involving these metals both domestically and...
READ MOREOn December 18, BHP, the Australian resources company, announced its production results for the third quarter of the fiscal year ending June 30, 2024. The report highlights a 10% increase in copper production year-on-year, totaling 1.36 million tons. This rise was largely due to the recent acquisition of OZ Minerals, which contributed significantly with its...
READ MOREMining giant BHP has laid out a plan for a comprehensive review of its Nickel West operations, responding to the current subdued market for nickel. The reassessment, which has been in progress for some months, is part of the company’s broader strategy to determine the future path for its nickel assets, including the West Musgrave...
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Nonferrous metals saw prices climb in Thursday’s trading, buoyed by a retreating U.S. dollar as investors recalibrated their expectations for the country’s interest rates. The trend of the dollar distancing itself from recent highs is creating a more favorable environment for metal commodities priced in the greenback. Copper, a bellwether for economic health, witnessed a...
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Nornickel has expressed concerns following the recent sanctions imposed by the US and the UK on the import of aluminum, nickel, and copper from Russia. A company spokesperson stated that these restrictions are likely to increase market volatility, heighten supply chain uncertainties, and ultimately escalate the prices for end users globally. The representative emphasized that...
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EV Nickel Inc. has initiated its 2024 exploration program, focusing on expanding its nickel resources near Timmins, Ontario. The program follows the successful closure of a $5.12 million financing, which will fund extensive geophysical surveys, metallurgical tests, surface mapping, sampling, and diamond drilling activities. The primary focus of the exploration will be the CarLang A...
READ MOREThe global demand for raw materials essential for the energy transition and climate change initiatives has surged, yet the extraction rates are declining due to the unprofitability of new mining projects. This dynamic is creating a significant investment opportunity in commodities as prices have notably increased across the board. In a remarkable two-month span, the...
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The United States and the United Kingdom have enacted stringent sanctions on Russian metals, banning imports and trading of aluminium, copper, and nickel on major Western exchanges like the Chicago Mercantile Exchange (CME) and the London Metal Exchange (LME). These measures, effective for metals issued after April 13, aim to sever the flow of these...
READ MOREIn the face of competition and a significant drop in nickel prices, New Caledonia’s once-booming nickel industry stands on the precipice of collapse, potentially marking the end of the island’s dominance in the global nickel market. The situation has prompted French Minister of the Economy and Finance, Bruno Le Maire, to propose the “nickel pact”...
READ MOREIndonesia’s rapid ascension as a global leader in nickel production for the burgeoning electric vehicle and battery markets has transformed the lives of local communities and the environment, particularly in the Molucca Sea region encompassing Sulawesi, Halmahera, and Obi islands. The industrial expansion, driven by the desire to leverage nickel’s critical role in the green...
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Central Asia Metals has provided an operations update for the first quarter of 2024, highlighting steady metal production from its two main projects: the Kounrad copper recovery plant in Kazakhstan and the Sasa zinc-lead mine in North Macedonia. The company reported zero lost time injuries at both sites during this period. For the first quarter,...
READ MORENickel Industries, an Australia-listed company, is drawing significant attention from global automobile and battery manufacturers for its nickel supply from a new plant under construction in Indonesia. CEO Justin Werner revealed on Tuesday that over 25 companies have shown interest in purchasing 70,000-80,000 metric tons of nickel annually from the high-pressure acid leach (HPAL) plant...
READ MOREAndrew Forrest, the chairman of Fortescue Metals Group and a prominent Australian mining magnate, has made a compelling call to China, urging the nation to implement higher environmental standards within its global supply chain, especially concerning nickel processing activities in Indonesia. This appeal, highlighted in a recent Financial Times interview, underscores the environmental implications associated...
READ MOREShanghai Futures Exchange Sets Sights on Nickel Internationalization The Shanghai Futures Exchange (SHFE), China’s premier exchange platform, is embarking on an ambitious journey to internationalize nickel futures trading. This initiative aims to launch nickel contracts catering to the global market, challenging the longstanding dominance of the London Metal Exchange (LME) in setting benchmark prices for...
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The global nickel market, critical for electric vehicle (EV) battery production, is undergoing significant shifts with major miners like BHP, Anglo American, Glencore, and Wyloo grappling with the challenges posed by falling nickel prices. Since Elon Musk’s 2020 announcement promising a substantial contract to the largest nickel miners for Tesla, the demand for this essential...
READ MORESPC Nickel has commenced a significant metallurgical test work study on mineralization from its West Graham Ni-Cu Project. The study, conducted by Vale Canada, a subsidiary of Vale Base Metals, aims to evaluate the potential recoveries, mineralogy, and grindability of the project’s mineralization. This initiative follows the release of SPC Nickel’s Maiden Resource Estimate earlier...
READ MOREPT Harum Energy, an Indonesian coal mining company, has strategically expanded into the nickel sector by acquiring a controlling 51% stake in PT Blue Sparking Energy. This move, detailed in a stock exchange filing, involves the conversion of a loan to the nickel processing company into equity, with Blue Sparking issuing new shares valued at...
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Bindura Nickel Corporation (BNC), a key player in the nickel mining industry, has issued a warning to its shareholders and potential investors regarding an expected significant downturn in profitability for the remainder of the fiscal year 2024. This downturn is attributed to an extended shutdown period combined with the prevailing low nickel prices on the...
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