Base metals experienced a turbulent 2024, starting the year cautiously before surging to highs in the second quarter, only to return to initial levels by year’s end. The rally, fueled by optimism over a Chinese economic recovery and global energy transition, peaked in May when copper reached an all-time nominal high and the London Metal...
READ MOREEos Energy Enterprises has entered into a joint development agreement (JDA) with FlexGen Power Systems to create an integrated battery energy storage system (BESS) combining Eos’ zinc-based technology with FlexGen’s energy management solutions. This collaboration marks a notable shift, as FlexGen becomes the first major system integrator to partner with a non-lithium-ion battery company. The...
READ MOREVedanta Resources (VRL), the London-headquartered metals and mining firm, is expected to encounter funding gaps of $850 million in FY25 and $1.4 billion in FY26, according to a report by CreditSights. While the firm’s recent bond restructuring has eased short-term refinancing risks, access to funding remains constrained, and its interest burden remains high. CreditSights identified...
READ MOREDevelop Global is making substantial progress on the redevelopment of its Woodlawn copper-zinc mine in New South Wales, with first production anticipated in the June quarter of next year. The refurbishment of the processing plant, now 50% complete, is being undertaken by GR Engineering Services (GRES) and Develop’s in-house team, positioning the mine for rapid...
READ MOREForan Mining (TSX: FOM) has provided a construction update for its 100%-owned McIlvenna Bay copper-zinc mine, which is progressing toward initial production in the fourth quarter of next year. The project is located in Saskatchewan, about 65 kilometers west of Flin Flon, Manitoba. McIlvenna Bay hosts the largest undeveloped volcanogenic-hosted massive sulphide (VHMS) deposit in...
READ MOREShares of Korea Zinc, the world’s largest zinc smelter, surged by the maximum daily limit on Monday, following news that the company’s board will soon meet to discuss the potential calling of an extraordinary shareholder meeting. The meeting, set for January 23, 2025, could pave the way for a crucial vote to elect a new...
READ MOREZinc prices are seeing increased volatility as tightening supply conditions leave buyers exposed to sudden changes in availability. Last week, the metal, which is widely used to galvanize steel, experienced turbulent trading on the London Metal Exchange (LME), ending almost 5% higher despite a 2.5% drop on Thursday. The price spike was driven by large...
READ MOREThe combined third-quarter production of the 20 largest zinc miners rose by 32.7% year over year and by 8.0% quarter over quarter, according to data from S&P Global Market Intelligence. The total output for these top 20 companies reached 1.5 million metric tons (MMt) in the September quarter, compared to 1.2 MMt in the same...
READ MOREABB has announced a partnership with Swedish mining company Boliden to advance sustainability in power distribution systems by utilizing Low-Carbon Zinc. This zinc has a carbon footprint 75% lower than the industry average, playing a crucial role in supporting a circular economy and promoting a fossil-free society. Boliden, supported by ABB’s electrification solutions, uses renewable...
READ MOREZinc prices increased by 0.48% to settle at $3.38, driven by market speculation regarding potential production cuts and improved consumption levels. Spot premiums remained elevated, offering additional support to the market. Winter shutdowns in northern Chinese mines have prompted smelters to stockpile zinc ore to ensure stable production during the Chinese New Year, which typically...
READ MOREThe Kipushi zinc-copper-lead-germanium mine in the Democratic Republic of the Congo (DRC) officially reopened on Thursday, with President Félix Tshisekedi presiding over the ribbon-cutting ceremony. The high-grade mine, operated as a joint venture between Ivanhoe Mines (TSX: IVN) and the DRC state-owned miner Gécamines, marks an important milestone in the revitalization of the country’s mining...
READ MOREOn Sunday, President Félix Antoine Tshisekedi inaugurated the Kico mining plant in Kipushi, reopening the site after over three decades. The revitalization is a joint venture between Ivanhoe Mines and Gécamines, aiming to produce 100,000 to 140,000 tonnes of high-grade crude zinc annually. The restart is expected to generate jobs and support infrastructure improvements, benefiting...
READ MOREBoliden is currently in advanced negotiations to acquire Lundin Mining’s Zinkgruvan mine in Sweden and Neves-Corvo mine in Portugal, according to information obtained by Bloomberg News. The acquisition would allow Boliden to strengthen its position as one of the largest zinc producers in Europe. These two mines represent some of Lundin Mining’s oldest assets, which...
READ MOREKorea Zinc Co.’s chairman, Choi Yun-beom, will step down from his role as the head of the board after canceling a planned $1.8 billion share sale. The decision is seen as an attempt to address concerns from the company’s largest shareholder amid an ongoing battle for control. The world’s largest refined zinc producer announced on...
READ MOREChinese zinc producers are racing to deliver between 30,000 and 40,000 metric tons of refined zinc to warehouses registered with the Shanghai Futures Exchange (ShFE) ahead of the November contract expiry on Friday, according to three sources with direct knowledge of the situation. This significant delivery is expected to raise zinc stocks in the ShFE...
READ MOREYoung Poong, the world’s sixth-largest zinc smelter, has been ordered to suspend operations at its Seokpo refinery facility for two months due to the unauthorized discharge of polluted wastewater. The shutdown is expected to impact the company’s ongoing attempt to secure ownership control of Korea Zinc, its affiliate and the world’s largest zinc producer. Earlier...
READ MOREChina’s Zinc Smelter Purchasing Team (CZSPT) has set the domestic processing fees for zinc concentrate at between 2,000 yuan ($281.57) and 2,500 yuan per metric ton for the first quarter of 2025, according to media reports. The new fees reflect the industry’s ongoing difficulties, including tight ore supplies and declining smelting margins. For imported zinc...
READ MOREChina Zinc Smelters Purchasing Team (CZSPT) has established new processing fees for domestic zinc concentrate for the first quarter of 2025, ranging between 2,000 and 2,500 yuan per metric ton (approximately $281.57 to $352 USD), according to a statement from state-backed research firm Antaike on Tuesday. The fees for imported zinc concentrate have also been...
READ MORESwiss resource giant Glencore reported a 4% year-on-year decline in copper production to 705,200 tons for the period from January to September 2024. The decrease was primarily attributed to the sale of its Cobar mine in Australia in June. Zinc production also fell by 4%, reaching 643,600 tons, mainly due to reduced output at the...
READ MORETight supply, improving demand in China, and falling inventories are expected to push zinc prices up by around 8% in the short term, analysts say. The zinc market has faced mine setbacks this year, tightening zinc ore and concentrate supplies, noted Daniel Hynes, senior commodity strategist at ANZ Research. Sibanye-Stillwater recently suspended operations at its...
READ MOREWestern sanctions on Russian zinc miner Ozernoye have left the company struggling to replace essential equipment required to increase output, according to multiple sources familiar with the situation. As a result, predictions for global zinc supply in 2025 may be overstated, heightening concerns in a market already facing supply shortages. Ozernoye officially launched production in...
READ MORENuVau Minerals, a mining company focused on Quebec, is set to go public this month in an effort to secure provincial government support for its Bracemac McLeod copper-zinc project in the Matagami camp. The Matagami camp, known for its rich mining history, has been operational for over 60 years. NuVau’s project is backed by a...
READ MOREPasinex Resources is moving forward with plans to expanding its operations in Türkiye with a new agreement that could see it acquire a major lead-zinc mining license. The Canadian company, through its local subsidiary Pasinex Arama, signed an Option and Purchase Agreement with Aydin Teknik, a local Turkish firm, for the Sarikaya property—a lead-zinc site...
READ MORESouth32 reported mixed production performance for the first quarter of its financial year, while maintaining its annual output guidance. The Perth-based mining company saw a rise in aluminium production but reported declines in other areas, including silver and lead. Aluminium output increased by 3.5% year-on-year to 298,000 tonnes in the three months ending September 30,...
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