In a recent discussion, executives from China Molybdenum outlined the company’s future plans, focusing on copper production, dividend payouts, and ongoing development strategies. China Molybdenum is on a clear path to significantly increase its copper production over the next five years, aiming to achieve an annual output of 800,000 to 1,000,000 tons by 2028. This...
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Base 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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USA-based Novelis has filed a patent application for innovative processes involving cast aluminum alloys that include calcium. The inventors behind this patent are Wagstaff Robert Bruce, Wagstaff Samuel Robert, Sundaram Kumar, Morais Carlos R, and Barker Simon William. The patent application, filed on June 23, 2023, is designated under the application number 202317042062 A. The...
READ MOREGlobal 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 MOREEmirates Global Aluminium Expands into U.S. Secondary Aluminum Market Emirates Global Aluminium has announced plans to acquire an 80% stake in Spectro Alloys, a leading U.S. secondary aluminum producer with a capacity of approximately 110,000 tons of ingots. This acquisition will bolster Emirates Global Aluminium’s presence in the growing U.S. secondary aluminum market, which saw...
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EN+ Group has released its financial and operational results for the first half of 2024, showing resilience despite global economic challenges. The company faced headwinds from geopolitical tensions, rising inflation, high interest rates, and restrictions on Russian aluminum supply, all of which negatively impacted its financial performance. During the period, the Group managed to increase...
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Impala Platinum Holdings, the world’s second-largest platinum miner, has reported a significant swing to a loss for fiscal 2024, as anticipated, due to a series of impairments. The company announced a basic loss of 17.31 billion South African rand (approximately $970.9 million USD) for the year ended June 30, compared to a profit of 4.905...
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Australia’s South32 is expecting elevated alumina prices in the second half of the year due to supply-side risks, including heavy seasonal rains in Guinea that are affecting shipments, CEO Graham Kerr announced on Thursday. In addition to the alumina market outlook, Kerr noted that South32 anticipates a recovery in aluminium prices, driven by a weakening...
READ MOREA group of researchers led by Stanford University and Belgian research center Imec has made a significant breakthrough in the development of transition metal dichalcogenide (TMD) solar cells. The team has devised a new scalable manufacturing process that brings these advanced solar cells closer to commercial production. TMDs are two-dimensional materials known for their exceptional...
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Russian aluminium giant Rusal reported a 41.6% increase in its adjusted net profit for the first half of 2024, driven by increased production and record shipments to China. Despite facing pressure from the fallout of Western sanctions against Russia, Rusal managed to boost its output and navigate the challenging global environment. For the first six...
READ MOREVSMPO-AVISMA, a leading titanium producer, has reported a 0.4% increase in net profit for the first half of 2024, reaching 12.39 billion rubles ($133 million). This modest growth comes despite significant increases in revenue across its operations, as detailed in the company’s financial statements. The company’s total revenue grew by 9.6%, reaching 59.61 billion rubles...
READ MORECopper prices in London edged higher on Thursday, buoyed by market optimism over a potential U.S. interest rate cut in September, despite a strong U.S. dollar and ongoing concerns about weak Chinese demand. The London Metal Exchange (LME) expressed satisfaction with the rise in copper prices, although the gains were somewhat limited by these broader...
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Global alumina production saw a slight increase of 0.9% in July, rising to 12.16 million tons from 12.05 million tons in June, according to the latest data from the International Aluminium Institute. However, this figure represents a marginal 0.1% decrease compared to the same period last year, when production stood at 12.17 million tons. Despite...
READ MOREOn April 27, Komatsu announced a new collaboration with Brazilian mining giant Vale and U.S. engine manufacturer Cummins to develop dual-fuel engines for its ultra-large dump trucks. These trucks, which operate at Vale’s mining sites, will be capable of using a mixture of diesel and ethanol, aiming to cut CO2 emissions by up to 70%...
READ MOREThe consumption of rare earth metals (REMs) in Russia is projected to double by 2030, reaching 3,000 tons, according to Igor Kalabsky, Head of the Rare and Rare Earth Metals, Precious Metals, and Stones Department at the Ministry of Industry and Trade of the Russian Federation. Kalabsky announced this forecast during Technoprom-2024. Despite Russia’s significant...
READ MOREArgentina’s mining exports are expected to double to approximately $10 billion within the next three years, driven primarily by a surge in lithium production, according to Minister Luis Lucero. The expansion is also set to benefit from increased copper production, which is critical for powering electric vehicles and artificial intelligence technologies. Lucero emphasized that Argentina...
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BHP’s relationship with its Western Australian nickel operations, known as Nickel West, has been marked by a series of ups and downs over the years. The division, which has long been a point of contention within the company, is now facing an uncertain future after BHP announced a “temporary suspension” of operations, a move that...
READ MOREGustavo Pimenta, Vale’s newly appointed CEO, steps into his role with a solid background in both economics and finance. Holding a degree in Economics from the Federal University of Minas Gerais (UFMG) and a master’s degree in Finance and Economics from the Getulio Vargas Foundation, Pimenta joined Vale in November 2021 under outgoing CEO Eduardo...
READ MOREUAC, a global leader in manufacturing structural components for the aerospace industry, has successfully commissioned a new aluminium billet casting line at its Satu Mare plant in Romania. This new facility enhances UAC’s capacity to produce aerospace-grade alloys, serving customers across Europe and globally. The investment is poised to expand UAC’s product offerings and solidify...
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China’s aluminium extrusion exports experienced a significant drop in July 2024, according to the latest data from China Customs. The exports totaled 90,300 tonnes, marking a steep 74.8% decline from June but showing a slight 0.83% increase compared to July 2023. In June, China’s aluminium extrusion exports, covering HS codes 76041010, 76041090, 76042100, 76042910, and...
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...
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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....
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 MORENickel prices on the London Metal Exchange (LME) have seen a significant increase throughout August 2024, with LME nickel 3-month prices climbing over 5.1% and cash settlement prices rising by more than 6.0%. This surge comes despite recent volatility and attempts to suppress prices, with nickel breaking through the USD 17,000 mark earlier this week....
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