US-based chemical company Albemarle has made a C$109 million ($81.17 million) investment in Canadian miner Arbor Metals’ St James Lithium camp located in Quebec, Canada. The St James Lithium Camp encompasses Arbor Metals’ Jarnet Lithium Project, which holds a prominent position within Arbor’s lithium portfolio. Arbor acquired the 3,759-hectare Jarnet project in January 2022 with...
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Citibank has reportedly acquired substantial quantities of zinc on the London Metal Exchange (LME) and facilitated an advantageous agreement for storing the metal within LME-approved warehouses. Two sources familiar with the situation have disclosed this information. While the precise volume of zinc acquired by Citibank remains challenging to ascertain, zinc stocks in LME warehouses located...
READ MOREAluminium Bahrain B.S.C. (Alba) has unveiled a novel aluminium alloy, the 6060.HE, expanding its AA6060 aluminium alloy product line designed for aluminium extrusions. Developed through a partnership involving the University of Bahrain and Bahrain Aluminium Extrusion Company (BALEXCO), this new alloy incorporates scientific research from the University and leverages BALEXCO’s experience as a prominent regional...
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Multinational commodity trader and mining group Glencore has finalized the purchase of a 56.25% stake in the Mara copper and gold project in Argentina. This acquisition has been made possible through an agreement with Canada’s Pan American, resulting in Glencore obtaining full ownership of the site. The transaction is set to conclude during Q3, with...
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In London, base metal prices, including copper, experienced a downturn on Tuesday due to a deteriorating demand outlook in China, a major consumer of these commodities. This shift was triggered by China’s release of data indicating slower growth in industrial output and decreased investment in its property sector. On the London Metal Exchange (LME), benchmark...
READ MOREThe anticipated inclusion of copper foil as a designated core mineral within the framework of the Inflation Reduction Act (IRA) by the U.S. government is poised to have noteworthy ramifications for the battery sector. This development is expected to have a particular impact on Korean copper foil manufacturers, as it potentially curtails the entry of...
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Rio Tinto has recently declared the achievement of significant agreements concerning the advancement of the Simandou iron-ore project located in Guinea. Within the Simfer joint venture, a collaboration involving Rio Tinto, the government of Guinea, and a consortium under the leadership of Chinalco, definitive agreements have been concluded with the Winning Consortium Simandou (WCS) and...
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London’s AIM-listed gold mining company, Chaarat Gold, is actively considering various financing avenues, which may include the sale of its sole operational mine, Kapan, situated in Armenia. The Chief Executive Officer, Mike Fraser, conveyed this information on Friday. Furthermore, the firm is engaged in ongoing discussions with investment management entity Xiwang, exploring a potential investment...
READ MORESouth Korean conglomerate Lotte has made an announcement regarding the establishment of a cutting-edge factory in Spain. This facility will focus on producing copper foils tailored for battery cells utilized in electric vehicles. The factory, situated near Tarragona, is projected to achieve an annual production capacity of up to 30,000 tonnes of copper foils by...
READ MORESandfire Resources, an Australian mining company, has officially marked the commencement of operations at its Motheo copper mine situated in Botswana. Situated approximately 70 km northeast of Ghanzi, the mine’s construction received approval from the company’s board in December 2020. The inaugural batch of copper concentrate was successfully produced in May of this year. Foreseeing...
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In a significant move towards harnessing the potential of its lithium resources, Ghana’s cabinet has given the green light to a new green-minerals policy. The policy aims to effectively manage the exploitation and production of lithium and marks a crucial step for the nation to tap into the thriving multibillion-dollar global industry. According to Lands...
READ MOREIn a strategic move to enhance its precious metals portfolio, Silvercorp Metals (TSX/NYSE: SVM), the Canadian mining company, has initiated a takeover deal for OreCorp (ASX: ORR), an Australian gold developer. Under the terms of the agreement, Silvercorp will acquire all outstanding shares of OreCorp for A15c in cash and 0.0967 of a Silvercorp share...
READ MOREIn a move highlighting the increasing significance of energy transition technologies, the US Department of Energy (DoE) has officially designated copper as a critical raw material. The inclusion of copper in the finalised Critical Materials Assessment for 2023 marks the first time this essential metal has been recognized as critical by the US Government, following...
READ MOREIperionX Limited (NASDAQ: IPX, ASX: IPX) has reached a significant milestone in its quest to develop the world’s largest recycled titanium metal production facility in Virginia. The company has secured all necessary permits to commence construction and operations at the planned facility. These permits include the Industrial Wastewater Discharge permit issued by the Halifax County...
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Vale Base Metals (VBM) Ltd. has recently inked deals worth $3.4 billion with two Saudi Arabian-owned entities, marking a significant step towards the development of its base metals operations as an independent entity. The agreement will provide the necessary funding for VBM’s ambitious capital projects, focused on increasing the production of critical minerals essential for...
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Alara Resources (AUQ) has made significant progress in its Al Wash-hi-Majaza copper and gold joint venture project, with the on-site one million tonne per year copper concentrator plant project engineering now 95% complete. Civil works for the project are also at 88% completion. An offtake agreement for the copper concentrate has already been secured. Alara...
READ MOREBitterroot Resources Ltd. (TSX-V: BTT) and Altius Minerals Corporation (TSX: ALS) have entered into an option agreement with Perseverance Metals Inc., granting Perseverance the exclusive option to acquire a 100% interest in the Voyageur Nickel-Copper-PGM Project. Voyageur covers an area of 680 square kilometers (262 square miles) and is situated approximately 65 kilometers west of...
READ MOREOil and gas giant ExxonMobil is engaging in discussions with major carmakers Tesla, Ford, and Volkswagen, along with other automakers, to secure lithium supply chains as it ventures into the electric vehicle (EV) battery metal business. Though talks with potential buyers of Exxon’s future lithium supply are still in the early stages, the company’s growing...
READ MOREUK-based mining company Aterian has finalized a joint venture and earn-in agreement with Rio Tinto and Kinunga Mining to explore and develop lithium and associated by-products on its HCK licence in Rwanda. The project covers a 2,750-hectare area in southern Rwanda and boasts 19 identified pegmatite zones, making it a highly promising site for lithium...
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LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) has entered into a definitive asset purchase agreement with Pristine Lithium Corp. (Pristine Lithium) to sell its three lithium brine projects, Estevan, Kindersley, and South, located in Saskatchewan, Canada. “The strategic sale of our Saskatchewan assets to Pristine Lithium will expedite the unlocking of our Saskatchewan properties’ true...
READ MOREEureka Resources, in collaboration with SEP Salt & Evaporation Plants Ltd. successfully extracted 97% pure lithium carbonate from oil and natural gas brine with an impressive recovery rate of up to 90%. This achievement marks a major milestone in their mission to establish a sustainable lithium supply chain in North America. Moreover, Eureka’s patented water...
READ MORESKC Co. has announced a strategic partnership with Japan’s Toyota Tsusho Corp. to establish a joint venture that will produce and supply battery-grade copper foil in North America, targeting the rapidly growing electric vehicle (EV) market. Under the memorandum of understanding, SK Nexilis Co., SKC’s subsidiary specializing in copper foil production, will join forces with...
READ MOREIndia’s lower house of Parliament (Lok Sabha) has recently passed the Mines and Mineral (Development and Regulation) Amendment Bill, marking a significant shift in the country’s mining sector. The new amendment allows private companies to participate in the mining of critical minerals, including lithium, which is a crucial element used in electric vehicle batteries. Previously,...
READ MOREVancouver-based Metallic Minerals Corp. has announced an updated National Instrument 43-101 Mineral Resource Estimate, revealing a remarkable 25% increase in contained metal at its La Plata project in Colorado. The increase comes after completing an additional 1,730 meters of diamond drilling in 2022. Inferred mineral resources at the Allard deposit now total 1,211 million pounds...
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