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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The global mining flotation chemicals market is poised for expansion, with an estimated increase of USD 3.00 billion from 2024 to 2028, marking a growth rate of 5.13% annually during the forecast period. The Asia-Pacific (APAC) region is expected to contribute significantly, accounting for 37% of the global market growth. The demand in APAC is...
READ MOREHorizon Minerals has announced a binding Ore Sale Agreement (OSA) with Paddington Gold, a subsidiary of Norton Gold Fields, for the treatment of 1.4 million tonnes of ore from the Boorara Gold Project. This agreement marks a significant step for Horizon as it prepares to resume gold production in the second half of 2024. Under...
READ MOREAnglo American, a global mining giant, is currently evaluating an unsolicited takeover proposal from BHP Group, the world’s largest mining company. This development follows a period of vulnerability for Anglo, with its market capitalization hovering around $52 billion and its share price having halved over the past two years due to various operational challenges. The...
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Guinea, Africa’s largest producer of bauxite, has recorded a significant increase in both production and export of the aluminum ore for the third consecutive year, according to the latest government data and insights from a senior mines ministry official. In 2023, the nation’s bauxite production escalated by over 19% year-on-year, reaching approximately 123 million metric...
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BHP Group today released its quarterly production report, showing a solid performance across its copper, iron ore, and energy coal segments. The company confirmed it is on track to meet its annual production targets for these key resources. Copper production rose by 10% due to strong outputs at the Spence and Escondida mines and enhanced...
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Hindustan Zinc has disclosed its production data for the fourth quarter and the fiscal year ending March 31, 2024, witnessing a mixed performance in mined and refined metal outputs but achieving a record high in silver production. In the January-March quarter of 2024, mined metal production slightly decreased by 1% year-over-year to 299,000 tonnes but...
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Hindustan Copper (HCL), India’s pioneering copper producer, has reported a notable increase in its metal-in-concentrate (MIC) production and ore output for the fiscal year 2023-24, marking significant milestones in its operational achievements. The company announced an MIC production of 27,404 tonnes and an ore production of 3.78 million tonnes for the year, the latter being...
READ MOREArun Misra, CEO of Hindustan Zinc and Executive Director of Vedanta, in a recent interview with Livemint, shed light on the company’s strategic decisions and future prospects. Hindustan Zinc, known for its prowess in the metal mining sector, has been successful in achieving a fourth consecutive quarter of cost reduction in its Q3 results for...
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London’s FTSE 100 soared over 2% led by mining giants Anglo-American, Rio Tinto, and Glencore, each gaining over 5% as commodity prices surged, notably iron ore and oil. The index closed at 7,673.08, marking its highest since July 31, with a 1.95% increase. Chris Beauchamp, chief market analyst at IG, noted the rally was spurred...
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