More than a month after appointing Luke Cox as its new CEO, Caprice Resources has strengthened its position in the West Arunta region by acquiring a new tenement. The West Perth-based exploration company, which has a market capitalization of $7.26 million, announced on Tuesday that it has entered into a binding agreement to purchase a...
READ MORELotte Energy Materials, a leading South Korean manufacturer of battery materials, has announced the development of a nickel-plated copper foil specifically designed for solid-state batteries, a significant innovation in the electric vehicle (EV) industry. The newly developed nickel-plated copper foil is a next-generation electrolytic copper foil, coated with nickel on both sides, which enhances surface...
READ MORE
BHP, the largest mining group in Australia, has released its financial results for the fiscal year 2024, covering the period from July 2023 to June 2024. The company reported a global sales figure of $55.7 billion, representing a 3% increase from the previous year’s $53.8 billion. However, attributable profits saw a significant decline, falling 39%...
READ MOREAmerican Battery Technology Company (ABAT), a critical battery materials firm focused on the commercialization of primary battery minerals manufacturing and lithium-ion battery recycling technologies, has announced the appointment of Steven Wu as its new Chief Operating Officer (COO). Wu joins ABTC with a robust background in scaling innovative technologies into large-scale manufacturing operations, a critical...
READ MORE
In early Asian trading on Tuesday, August 27, spot gold experienced a sharp decline, with prices dropping below $2,510 per ounce, marking new session lows. This follows a modest gain of nearly 0.3% on Monday, where gold closed at $2,517.94 per ounce. On Monday, driven by risk aversion, gold prices reached a high of $2,526.90...
READ MORE
Nornickel has released its financial results for the first half of 2024, showing a significant decline in revenue and profits. According to the report, the company’s revenue dropped by 22% to $5.6 billion, while net income fell by 23% to $829 million. Free cash flow also saw a sharp decrease of 61%, totaling $525 million,...
READ MORE
Yabao, the world’s largest lithium producer, has announced the suspension of part of its processing capacity at the Kemerton lithium plant in Australia, while also putting a hold on plans to expand its lithium mining operations in the country. This decision comes amid a significant drop in lithium prices, driven by an imbalance between supply...
READ MOREIn 2023, mining companies invested a total of $14.214 billion, marking the highest level of capital expenditure in the sector since 2013, when investments peaked at $15.027 billion. This significant outlay was primarily driven by the purchase of property, plant, machinery, and equipment, as well as the development of new projects, according to the latest...
READ MOREFoxconn Singapore, a subsidiary of the Taiwanese electronics giant Foxconn, has announced a significant investment in its Indian operations, acquiring 1.203 billion ordinary shares of Foxconn Hon Hai Technology India Mega Development. This move, valued at approximately $144 million, is seen as a strategic effort to bolster the capital of Foxconn’s India unit. The investment...
READ MORECompanies within the mining sector are approaching the coming months with caution, driven by the $33 million bonus recently awarded to 2,379 members of Minera Escondida’s Union No. 1. This substantial payout has raised concerns among other companies with upcoming collective bargaining processes, fearing that similar demands could arise, despite varying production conditions across different...
READ MORE
Bikita Minerals, a Zimbabwean lithium producer owned by Sinomine, plans to invest nearly $500 million in constructing a lithium sulphate plant at its mine in Bikita. This development aligns with Zimbabwe’s broader strategy to move from exporting raw materials to producing value-added products, particularly in the lucrative market for battery-grade lithium. The company’s shift towards...
READ MORESpot gold fell sharply on Thursday, declining over 1% and closing below the $2,500 per ounce level, as investors braced for an upcoming speech by Federal Reserve Chairman Jerome Powell. The precious metal ended the session down by $27.45, or 1.09%, at $2,484.74 per ounce, having touched an intraday low of $2,470.82. FXStreet analyst Christian...
READ MOREEmirates Global Aluminium (EGA) has announced plans to acquire an 80% stake in American aluminium recycling firm Spectro Alloys Corporation, marking a significant move in EGA’s global expansion into aluminium recycling. The acquisition, pending regulatory approval, will strengthen EGA’s presence in the United States, one of its largest global markets. Spectro Alloys, established in 1973...
READ MOREExlabesa is set to expand its aluminium recycling operations at its plant in A Coruña, Spain, by increasing its production capacity with the installation of new technology supplied by Hertwich Engineering, a company under the SMS group. The upgrade includes the addition of a continuous homogenising furnace, complete with an air cooling station, a long-billet...
READ MOREThailand’s Department of Foreign Trade has initiated an anti-dumping investigation into extruded aluminium imports from China, following complaints by local manufacturers who argue that these imports are damaging domestic production. The decision to launch the investigation was made by Acting Thai Prime Minister and Commerce Minister Phumtham Wechayachai, who responded to growing concerns about the...
READ MOREVolt Lithium has announced the successful installation and function-testing of its first direct lithium extraction (DLE) Field Unit in the Permian Basin, Texas. The new unit significantly enhances the company’s production capacity, scaling up to process over 200,000 liters (1,250 barrels) of oilfield brine per day, more than doubling its previous capability of 96,000 liters...
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...
READ MOREUAE-based Consolidated Copper Corp. (CCC) has successfully restarted its processing plant at the Tschudi mine in northern Namibia, marking the production of London Metal Exchange (LME) Grade A copper cathode for the first time since 2020. The plant, originally constructed in 2015, had produced over 80,000 tonnes of high-grade copper cathode before being placed under...
READ MORE
China’s refined nickel production in July 2024 saw significant growth, reaching 28.9 thousand tons, an 8.2% increase from June and a 33.9% rise compared to July 2023, according to the Shanghai Metals Market (SMM). Over the first seven months of 2024, Chinese companies produced a total of 180.7 thousand tons of refined nickel, marking a...
READ MORE
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...
READ MOREAccording to data from the EU statistical service, the European Union’s imports of refined copper from Russia saw a significant decline in June 2024. The imports totaled approximately 1,986 tons, marking a 1.5% increase from May but a steep 71% decrease compared to the same month last year. Nearly all of the imported copper was...
READ MORE
Hindalco Industries announced a $10 billion investment to fund its ongoing and upcoming expansion projects in India and the United States. Chairman Kumar Mangalam Birla shared these plans during the company’s 65th annual general meeting, emphasizing the scope of these developments, which include several major initiatives. In India, the investments will support the expansion of...
READ MOREHyundai Motor Group plans to establish a battery research and development (R&D) facility in Anseong, Gyeonggi Province, marking the first time the South Korean automotive giant is setting up operations in the city. Industry sources revealed on Thursday that the company is currently in discussions with Anseong city authorities regarding the development of the R&D...
READ MOREKingston Resources has successfully ramped up operations at its Mineral Hill processing plant, marking a key milestone with the first production of gold from a newly developed pit. The company has recommissioned the crushing, grinding, and carbon-in-leach (CIL) circuits, leading to the resumption of gold and silver sales. The processing plant has processed approximately 7,000...
READ MORE
