The Almalyk Mining and Metallurgical Combine (AMMC) has reported a significant increase in its production outputs for January, surpassing its initial forecasts. The Kalmakyr mine, a key operation within AMMC’s portfolio, achieved 102.0% of its production target, marking a year-over-year growth of 127.3%. This uptick in production was led by a 105.5% increase in the...
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Trafigura has been channeling significant quantities of zinc into London Metal Exchange (LME) warehouses in Singapore, engaging in rent-sharing agreements that are proving to be highly beneficial. According to three sources familiar with the developments, this influx is nudging zinc stock levels towards the two-decade high witnessed last November. While Glencore is also participating by...
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Tara Mines in Navan, Co Meath, operated by the Boliden Group, has reported preliminary losses of €65 million for the year 2023. These figures, revealed in the company’s full-year accounts, highlight significant financial challenges faced by the zinc mine, which temporarily halted operations last summer. Around 600 employees were temporarily laid off as the mine...
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Armenia’s copper concentrate production experienced a decline of 5.8% in the 12-month period of 2023, totaling approximately 289,608 tons, according to the National Statistics Committee. This decrease highlights challenges in the metal production sector within the country. Furthermore, zinc concentrate production witnessed a significant reduction of about 18%, amounting to 8,161 tons. In contrast, the...
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Swiss mining conglomerate Glencore has announced its production figures for the year 2023, revealing a decrease in output for several key metals. Copper production saw a 5% reduction from the previous year, totaling 1.01 million tons. The company has set a production target range for 2024 between 950,000 and 1,010,000 tons. Zinc output also experienced...
READ MORENamibia, a beacon for mining investment in Africa, faces a pivotal moment in its economic trajectory. Despite its rich deposits of critical minerals, including diamonds, magnesium, zinc, and notably lithium and rare earth elements (REEs), the country’s ambition to refine its own minerals is hampered by a lack of necessary infrastructure. Mining significantly contributes to...
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...
READ MORE4Q Copper Production: MMG, a leading global resources company, has reported an 11% year-on-year increase in copper production for the fourth quarter, reaching 81,206 tons. 4Q Copper Cathode Production: Copper cathode production, however, experienced an 18% year-on-year decline in the fourth quarter, totaling 10,206 tons. 4Q Zinc Production: The company saw a 6% year-on-year rise...
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Kazakhstan, a significant player in the non-ferrous metals market, has experienced a downturn in its export volumes across various metals, including copper, aluminum, zinc, lead, and titanium, over the first 11 months of 2023. The decline reflects shifts in international demand and market dynamics, impacting the country’s trade relationships and revenue from these crucial resources....
READ MOREHindustan Zinc, a global leader in the production of zinc, lead, and silver, has announced its financial results for the third quarter ending December 31, 2023. The company reported a Profit After Tax (PAT) of INR 2,028 Crore (approximately $271.2 million), marking a 17% quarter-over-quarter increase, primarily driven by consistent volume growth and effective cost...
READ MOREGriffin Mining has reported a record-breaking year at its Caijiaying Zinc Gold Mine, marking 2023 as a year of spectacular growth in production and financial performance. Key Achievements of 2023: Financial Highlights: Chairman’s Statement: Company’s Background and Growth:
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Teck Resources has shared unaudited production and sales volumes for the fourth quarter of 2023 and the full year, ahead of its financial results announcement scheduled for February 21, 2024. The year 2023 posed several challenges for Teck’s operations, impacting annual production across its business units. Notably, steelmaking coal production exceeded guidance, while base metals...
READ MOREEnhanced Earnings in 4Q23 and Future Outlook Korea Zinc is expected to show improved earnings in the fourth quarter of 2023, driven by an increase in sales volume and prices. The company’s 4Q23 sales are projected to be around W2.45tn, marking a 6.9% quarter-on-quarter growth, with an operating profit of W186bn. This growth is attributed...
READ MORESignificant Expansion in Gold and Silver Reserves Following the integration of ShuiKouShan Mining, Minmetals Resources has seen a remarkable transformation into a comprehensive mining, metallurgy, and processing enterprise. This move has notably doubled its reserves in gold and silver. The Kangjiawan Mine’s gold and silver reserves stand at 39.8 tons and 1,321.40 tons, respectively, with...
READ MOREResumption of Operations Anticipated Boliden, a prominent mining company, is gearing up to restart operations at the Tara zinc mine located in Ireland. The reopening is scheduled for the second quarter of the upcoming year, as reported by Reuters. Background of the Shutdown The Tara mine had previously halted its operations in June due to...
READ MOREDecline in Copper and Zinc Concentrate Output According to the National Statistics Committee, Armenia has witnessed a significant drop in its copper concentrate production in the first ten months of 2023. The production decreased by 10.1% year-on-year, amounting to approximately 235,500 tons. Additionally, the country experienced a 20.4% decline in zinc concentrate production, which totaled...
READ MOREGlencore is reportedly preparing for the potential restart of its Nordenham zinc smelter in the upcoming year, following a period of care and maintenance exceeding one year. This move comes as a response to the industry-wide impact of surging power prices triggered by geopolitical events. Check out more latest Zinc News!
READ MORENornickel expects copper market growth In the remaining months of 2023 and into next year, Norilsk Nickel forecasts steady growth in the global copper market at a rate of 2–3%.The company’s forecast emphasizes the revival of economic activity in China, which is the main producer of red metal on the planet, while also being its...
READ MORELatest Forecasts Reveal Impact of China’s Production The global market for refined zinc is projected to experience a surplus of 367,000 tn in 2024, a significant increase from the 248,000 tn surplus expected in 2023. This surplus is primarily attributed to a notable increase in China’s output, according to the latest forecast from the International...
READ MOREDespite a slump in the previous quarter, zinc prices are projected to maintain stability for the remainder of the year. This outlook is bolstered by encouraging signs, such as a surge in cancelled warrants on the London Metal Exchange (LME) and a potential upswing in Chinese demand. Factors Behind the Fluctuations Zinc prices witnessed a...
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Zinc prices, which experienced a downturn in the last quarter due to reduced Chinese demand, are expected to hold steady through to December. This optimism is in part due to the anticipation of China’s economic recovery. The London Metal Exchange (LME) registered a decline in zinc’s spot price, now hovering around $2,601. This drop was...
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Adriatic Metals and Boliden have announced a collaboration to produce zinc and other metals, adhering to the topmost ESG (Environmental, Social, and Governance) standards. Boliden’s smelter expansion, the Green Zinc Odda project, will boost the annual production capacity from 200 kilotonnes to 350 kilotonnes, making it one of the most environmentally friendly zinc productions globally....
READ MOREOn Monday, Vedanta group company Hindustan Zinc announced a 1% decrease in its mined metal output, producing 252,000 tonnes in Q2 of the current fiscal year. For comparison, the production was 255,000 tonnes in Q2 of the previous year. The drop, according to a BSE filing, was primarily due to reduced ore production at the...
READ MOREThe $400 million upgrade of the Hobart zinc works has taken a significant step toward construction with the finalization of grant deeds involving the federal and state governments. The project entails the construction of a new electrolysis plant at the site, designed to enhance mineral recovery capabilities. In a memo addressed to employees, Todd Milne,...
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