South Korean investment firm MBK Partners and Young Poong Corp. have jointly submitted an application to acquire a 14.6% controlling stake in Korea Zinc, the world’s largest producer of refined zinc. The deal is aimed at improving corporate governance and enhancing the value of Korea Zinc, amid disagreements within the company’s ownership regarding its ambitious...
READ MOREBoliden’s ongoing expansion project at the Odda zinc smelter, aimed at increasing annual production from 200 to 350 ktonnes, has encountered delays, particularly at the roasting facility. As a result, the ramp-up to the new production capacity will now begin at the end of the first quarter of 2025, rather than in late 2024 as...
READ MOREGlobal Zinc Production Continues to Decline Global zinc ore production fell by 3.4% in the first half of 2024 due to reduced demand from metallurgical plants, particularly in China. Zinc orders from galvanized steel plants and hot-dip galvanizing operations have also decreased, according to data from the Lead and Zinc Study Group. China’s zinc concentrate...
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Rockfire Resources has reported a 500% increase in the JORC Mineral Resource estimate for its Molaoi zinc, silver, and lead deposit in Greece, making it one of the top 20 undeveloped zinc resources globally by tonnage, grade, and zinc equivalent metal content. The updated resource significantly surpasses the maiden resource announced in May 2022. The...
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The new zinc electrolysis plant in Verkhny Ufaley, located in the Chelyabinsk Region, is scheduled to commence operations in 2025, according to a report from the regional government. The plant is being constructed on the site of the former Ufaleynickel enterprise, which was a key industrial facility in the town before its closure in 2017....
READ MOREBase metals began September on a downbeat note, with prices slipping on Monday as the market adjusted expectations regarding aggressive policy easing in the U.S., while concerns about demand from China were heightened by recent manufacturing data. Three-month copper on the London Metal Exchange (LME) dipped by 0.4% to $9,199.50 per metric ton by 0411...
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Global zinc mine production continues to decline, with supply pressures mounting, particularly in China. Fourteen Chinese smelters, responsible for about 70% of the country’s refined zinc output, recently agreed to adjust maintenance schedules and delay new capacity to protect margins. This move sparked a 10% rally in Shanghai Futures Exchange zinc prices, but the global...
READ MOREVedanta, the Indian multinational mining giant, has announced plans to develop two new industrial parks focused on aluminium and silver-zinc production. The news was shared by Vedanta’s chairman, Anil Agarwal, on LinkedIn on August 28, where he hinted at future projects for similar parks in the oil & gas and iron & steel sectors. In...
READ MOREThe Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) has teamed up with Hindustan Zinc Limited (HZL) to develop new variants of zinc materials and accelerate the commercialization of zinc-based batteries. This collaboration aims to promote indigenous Zn-ion battery technologies, which are seen as a cost-effective and high-performance alternative to the more expensive, imported lithium-ion...
READ MOREChinese mining giant Zijin Mining Group Co. has expressed concerns about revising its strategy for acquiring assets abroad through mergers and acquisitions, citing a slowing global economy, rising geopolitical tensions, and increasing project costs. This cautionary stance was highlighted in a recent press release from the company. China’s pivotal role in global mining supply chains,...
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According to data from Shanghai Metals Market (SMM), China’s refined zinc production in July 2024 fell to 489,600 tons, marking a 10.3% decrease from the previous month and an 11.2% drop compared to July 2023. For the first seven months of 2024, total refined zinc output in China decreased by 2.8% year-on-year to 3.671 million...
READ MOREGanfeng Lithium Expands into Turkey Strategic Partnership with Yigit Aku Chinese lithium producer Ganfeng Lithium has embarked on a significant expansion into Turkey by forming a long-term strategic partnership with Turkish battery manufacturer Yigit Aku. This collaboration marks a crucial step in Ganfeng Lithium’s global growth strategy, particularly in the rapidly expanding battery market. Joint...
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Zinc prices surged to their highest levels in five weeks on Friday, driven by concerns over supply disruptions after leading smelters in China, the world’s top producer, agreed to reduce production due to low ore availability and weak profits. On the London Metal Exchange (LME), three-month zinc rose by 1.6% to $2,904 per metric ton...
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Glencore has reported a significant 27% increase in zinc metal production during the first half of 2024, reaching 440,100 tons. This growth, representing an increase of 94,800 tons compared to the first half of 2023, is attributed to the consolidation of the CEZinc smelter in Canada and the restart of the Nordenham Zinc smelter in...
READ MORESignificant Accumulation of Lead and Zinc in Singapore The London Metal Exchange (LME) warehouses in Singapore have seen a substantial accumulation of lead and zinc, reaching nearly 430,000 tons—a tenfold increase since May 2023. This growth is attributed to two main factors: a global economic slowdown that has dampened demand for base metals, and a...
READ MORESingapore has become a critical hub for refined zinc and lead stockpiles, with inventories in the city-state’s London Metal Exchange (LME) registered warehouses soaring more than tenfold since May 2023. Recent data shows that nearly 430,000 tons of these base metals are now stored in Singapore, making it a key vault for major trading companies...
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Prices for most nonferrous metals saw an uptick on Thursday, supported by the potential for a U.S. interest rate cut, though high inventories and disappointing economic data from China curbed the extent of gains. Three-month copper on the London Metal Exchange (LME) inched up 0.2% to $8,985 per metric ton by 0530 GMT, while the...
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South32, a $13 billion mining giant spun out of BHP in 2015, is drawing increased attention from dealmakers, with growing expectations that the company may soon embark on a major corporate transformation. Despite being relatively inactive in mergers and acquisitions since its inception, pressure is mounting on South32 to pursue growth and improve performance. The...
READ MOREVariscan Mines, an exploration and development company focusing on high-grade zinc projects in Spain, has appointed Square Trading Singapore Pte Ltd as its exclusive marketing manager for the global sale of zinc concentrates from its Novales-Udias and Guajaraz Projects. This partnership aims to enhance the market reach of Variscan’s products as the company progresses with...
READ MOREAlliance Nickel’s Faith in the Future of Nickel Ambitious Plans for NiWest Project Alliance Nickel, an Australian mining company, has ambitious plans to begin mining and processing nickel-cobalt ores from its NiWest project in 2027. The company aims to produce 90,000 tonnes of nickel and 7,000 tonnes of cobalt annually. The NiWest project, located in...
READ MOREHindustan Zinc, a leading integrated producer of zinc, lead, and silver under the Vedanta Group, has reported robust financial and operational performance for the first quarter of FY25, ending in June 2024. The company’s revenue from operations rose by 12% year-over-year to ₹8,130 crore, driven by increased metal volume and higher metal and silver prices,...
READ MOREIvanhoe Mines has announced its financial results for the second quarter of 2024, reporting a profit of $67 million and a record normalized profit of $115 million. The strong performance was largely driven by the Kamoa-Kakula joint venture, which contributed $90 million to the income. For Q2 2024, Ivanhoe Mines recorded an Adjusted EBITDA of...
READ MOREKorea Zinc, the world’s leading non-ferrous metal smelting company, is celebrating its 50th anniversary with ambitious plans for future growth. The company aims to reach a market capitalization of 70 trillion won ($51 billion) by 2033, supported by a cumulative revenue target of 217 trillion won ($158 billion) from 2023 to 2033. This goal was...
READ MOREHindustan Zinc Limited, the world’s second-largest integrated zinc producer and third-largest silver producer, is set to explore new applications of zinc in batteries as part of its strategy to support the global energy transition. Chairperson Priya Agarwal Hebbar announced that the company is focusing on enhancing production volumes, reducing production costs, and creating stakeholder value....
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