Madagascar’s Ambatovy nickel project companies have submitted a debt restructuring plan to an English court, as confirmed by a spokesperson from Sumitomo Corp, the project’s major shareholder. Sumitomo holds a 54.2% stake in the project, which includes Ambatovy Minerals, a mining company, and Dynatec Madagascar, a refining company. The remaining stake is owned by Korea...
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Chris Ellison, CEO of Perth-based Mineral Resources, one of Australia’s top lithium miners, has strongly criticized global automakers for their slow adoption of electric vehicles (EVs). This comes as a sharp decline in lithium prices, driven by a slowdown in EV sales, has pushed the industry into a challenging period. Ellison, who described the current...
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Nornickel’s Nadezhda Smelter is set to commission the second line of its Sulfur Program earlier than anticipated, with the launch now expected on October 1, said Nikolay Utkin, Nornickel’s Senior Vice President and Head of Norilsk Division. This program, one of the world’s most complex and large-scale environmental projects, began in April 2022 and involves...
READ MORECanadian-German start-up Rock Tech is set to construct a lithium hydroxide factory in Guben, Germany, near the Polish border. The company expects to secure financing for the €800 million project soon, with production anticipated to begin between late 2026 and early 2027. Despite the slow pace of electromobility adoption in Europe, particularly in Germany, Rock...
READ MOREEurobattery Minerals has signed a non-binding offtake agreement with Boliden for its Hautalampi battery minerals project in Finland. The agreement, set to last for at least ten years, marks a significant step forward for the company’s plans to produce carbon-free critical raw materials. Roberto García Martínez, CEO of Eurobattery Minerals, praised the agreement as a...
READ MOREA global aluminium producer has proposed raising the premium for October-December primary metal shipments to Japan to $185 per metric ton, reflecting an 8% increase from the previous quarter’s premium of $172 per ton. This offer, made on Tuesday, highlights the tightening supply of aluminium in Asia as some shipments are being redirected to Europe...
READ MOREBHP has announced plans to more than double its copper production in South Australia over the next decade, with a final investment decision on a significant smelter upgrade at Olympic Dam expected within the next two and a half years. The global mining giant also revealed a substantial increase in copper and gold resources at...
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On Tuesday, spot gold prices experienced a sharp rise during the U.S. trading session, climbing from around $2,503 per ounce to briefly touch $2,526 per ounce. By the close, gold settled at $2,524.54 per ounce, marking a 0.26% increase for the day. FXStreet analyst Christian Borjon Valencia highlighted the impact of a weakening U.S. dollar...
READ MORESamsung SDI and General Motors have solidified their partnership to bolster the electric vehicle (EV) market by finalizing an agreement to establish a joint battery manufacturing facility in the United States. The deal was formalized during a signing ceremony at Samsung SDI’s Seoul office on Tuesday, with key representatives from both companies in attendance. This...
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The global electrolytic copper foil market is projected to grow significantly, reaching a value of $65.4 billion by 2030, according to the latest report from IndustryARC. The market is expected to expand at a compound annual growth rate (CAGR) of 14.6% between 2024 and 2030, driven by advancements in the electrical and automotive sectors, as...
READ MORENickel, a critical metal for the energy transition and electric vehicle batteries, is set to become a significant export for Tanzania with the development of the Kabanga project. The U.S. government has shown strong interest in the project, as it aligns with broader efforts to secure supply chains for essential minerals. On August 27, Lifezone...
READ MOREJubilee Metals has entered into a three-year renewable power purchase agreement with Lunsemfwa Hydro Power, a key independent hydro and solar power producer in Zambia, to ensure a consistent and reliable power supply for its copper production operations at Roan and Sable, starting September 1. This agreement is crucial for Jubilee as it navigates the...
READ MOREThe U.S. and other Western nations have begun adopting more interventionist policies in their business relations with China, imposing tariffs and implementing measures to curb the transfer of technology that could bolster China’s economic and military capabilities. However, China, with its well-developed economy and strong position in several global industries, is countering these actions with...
READ MOREEstonian real estate developer Reterra and International Aluminium Casting (IAC) have completed an expansion of IAC’s aluminum plant on Vaksali Street in Tartu. The expansion has effectively doubled the plant’s size from 4,500 to 9,000 square meters, leading to a nearly 25% increase in the number of employees at the Tartu facility. Dan Nilsson, CEO...
READ MOREAustralian mining giant BHP has reaffirmed its commitment to expanding its copper production independently, following the collapse of its bid to acquire Anglo American earlier this year. Despite expressing disappointment over the failed takeover attempt, BHP has made it clear that it will not overpay for acquisitions. In May, BHP withdrew from its pursuit of...
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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CMOC, a global leader in rare metals mining and marketing, announced remarkable financial results for the first half of 2024, achieving a net profit attributable to the parent company of $762 million USD. This represents an extraordinary increase of 670.43% compared to the same period last year, driven by robust production growth, stringent cost management,...
READ MOREFalco Resources has announced the formation of Technical and Strategic Committees, a move aligned with the Operating Licence and Indemnity Agreement (OLIA) signed with Glencore Canada earlier this year. These committees are intended to ensure the safe and coordinated development, construction, operation, and eventual closure of Falco’s Horne 5 Project, particularly in relation to Glencore’s...
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Canada is planning to introduce significant tariffs on imports from China, including a 100% duty on electric vehicles and a 25% duty on Chinese-made aluminum and steel, according to sources familiar with the matter. This move aligns Canada with similar actions taken recently by the European Union and the United States. The decision follows recent...
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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...
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The Guangyuan Economic Development Zone’s management council has finalized an investment agreement with Deyang Tianhe Machinery Manufacturing for a new production facility focused on aluminium alloy auto parts. This new project aims to produce lightweight car components with an annual capacity of 30,000 tonnes and represents an investment of RMB 1 billion. Once fully operational,...
READ MOREChile’s copper-mining sector is seeing a decrease in the risk of labor disruptions following the resolution of several significant wage negotiations. This development is crucial for a country that supplies approximately 25% of the world’s copper. Recently, around 300 workers who had been on strike at a mine operated by Lundin Mining Corp. returned to...
READ MOREAustria-based aluminium supplier Hammerer Aluminium Industries (HAI) has officially inaugurated its new P61 extrusion press line and logistics centre at its Ranshofen headquarters. The event, which attracted figures from both local government and business sectors, marked the successful conclusion of a significant €125 million investment initiative that HAI began in 2022. The new P61 press...
READ MOREPT Vale Indonesia (INCO) has announced plans to commence operations at its nickel processing plant in Pomalaa, Southeast Sulawesi, by the first quarter of 2026. This move is part of the company’s broader strategy to enhance its nickel processing capabilities in response to the growing global demand for nickel, particularly for use in electric vehicle...
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