Brazilian mining giant Vale reported a third-quarter net profit of $2.41 billion, beating analysts’ expectations, despite a 15% drop from a year earlier. The decline was largely driven by lower iron ore prices and additional provisions related to the 2015 Mariana dam disaster. The $2.41 billion profit exceeded analysts’ estimates of $1.65 billion, according to...
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Jiangxi Copper, China’s largest supplier of refined copper, forecasts that the global shortage of copper ore will persist into the second half of the year, continuing to exert downward pressure on processing fees. The company highlighted this in its recent earnings report, noting an increasing certainty that supply constraints at mines will remain a challenge....
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Atalaya Mining has released its operations update for the second quarter of 2024, showing robust performance at its Proyecto Riotinto in Spain despite some challenges. During Q2 2024, Atalaya mined 3.8 million tonnes of ore, slightly down from 3.9 million tonnes in Q2 2023, but up from 3.7 million tonnes in Q1 2024. Waste mined...
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Trigon Metals Inc has announced highlights of its May 2024 underground production at the Kombat mine and provided production guidance for the remainder of its 2025 financial year (FY2025). In May 2024, the Kombat mine achieved several record-breaking underground mining days, resulting in an average production of 12.1 tonnes of copper per day. The total...
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Newmont CEO Tom Palmer remains confident that the company will divest its unwanted assets by early next year, targeting a $2 billion boost to its balance sheet, despite ongoing issues at its Telfer mine in the Pilbara. Newmont’s sales process for mines in Australia, Ghana, and North America has been bolstered by strong gold prices,...
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The Indian Ministry of Mines reports continued growth in the mining sector in April 2024, following record production levels in the fiscal year 2023-24. Iron ore and limestone, which together account for about 80% of the total MCDR mineral production by value, showed significant increases in production. In FY 2023-24, iron ore production reached 277...
READ MOREThe nickel processing plant of New Caledonian producer SLN needs ore supplies within the next 10 days to keep its furnaces operational, according to Christel Bories, CEO of main shareholder Eramet. SLN halted mining activities in New Caledonia due to ongoing riots in the French Pacific territory. However, loading of some mine stocks began on...
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Ivanhoe Mines has announced the successful feed of first ore into the Phase 3 concentrator at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) on May 26, 2024. This marks the completion of construction for the Phase 3 concentrator, achieved months ahead of schedule and on budget. The first concentrate from...
READ MOREFor the past few years, the West has been trying to break China’s grip on minerals critical for defense and green technologies. Despite these efforts, Chinese companies are becoming more dominant. They are expanding operations, supercharging supply, and causing prices to drop, making it hard for challengers to compete. “China is not just standing still...
READ MOREGriffin Mining has announced a substantial increase in revenue for 2023, reporting $146.02 million compared to $94.4 million in 2022. The AIM-traded firm’s gross profit rose to $51.84 million from $38.25 million year-on-year, while earnings before depreciation, interest, and tax increased to $51.86 million, up from $35.22 million the previous year. Operating profit saw a...
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