Vedanta Aluminium has appointed Luca Zipponi as the CEO of its Rolled Products division. Zipponi, who brings over 30 years of experience in operations and strategy, will be responsible for driving growth and managing all operations related to the product group. These products have applications in various sectors, including automotive, insulation, power projects, electrical, and...
READ MOREThe High Anti-Corruption Court of Ukraine has seized 100% of the corporate rights of Mykolaiv Alumina Plant (MGZ), previously controlled by Russian oligarch Oleg Deripaska, along with more than 150 buildings and 200 vehicles associated with the enterprise. The State Property Fund is now registering the property, setting the stage for a large-scale privatization process....
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In a major initiative to rejuvenate Zambia’s mining sector, President Hakainde Hichilema has launched the country’s first high-resolution aerial geophysical mapping survey since 1972. Conducted by Xcalibur, the survey will take place over the next 18 to 24 months and aims to provide accurate and up-to-date data on Zambia’s mineral resources. This project marks a...
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Pilbara Minerals Limited and Latin Resources have entered into a binding Scheme Implementation Agreement (SIA), under which Pilbara Minerals will acquire 100% of Latin Resources’ shares through a Court-approved scheme of arrangement under the Corporations Act 2001. This acquisition positions Pilbara Minerals to significantly enhance its lithium production capabilities. Highlights of the Acquisition: – Strategic...
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Rio Tinto has signed a key agreement with the government of Queensland, Australia, aimed at securing the long-term viability of the country’s second-largest aluminum smelter, Boyne Smelters. The Anglo-Australian mining giant announced on Thursday that the Queensland government has committed to supporting the financial stability of the smelter from 2029 as it transitions to renewable...
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Emirates Global Aluminum (EGA), a leading aluminum producer in the United Arab Emirates, has announced the world’s first shipment of bauxite using a liquefied natural gas (LNG)-fired Capesize bulk carrier. The bauxite, mined by an EGA subsidiary in Guinea, West Africa, is being transported on a vessel operated by Anglo American and chartered by EGA...
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Prices for most nonferrous metals saw an uptick on Thursday, supported by the potential for a U.S. interest rate cut, though high inventories and disappointing economic data from China curbed the extent of gains. Three-month copper on the London Metal Exchange (LME) inched up 0.2% to $8,985 per metric ton by 0530 GMT, while the...
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South32, a $13 billion mining giant spun out of BHP in 2015, is drawing increased attention from dealmakers, with growing expectations that the company may soon embark on a major corporate transformation. Despite being relatively inactive in mergers and acquisitions since its inception, pressure is mounting on South32 to pursue growth and improve performance. The...
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Hindalco Industries, the parent company of Novelis, has postponed the planned initial public offering (IPO) of Novelis, the world’s largest aluminum recycler, which was initially set to raise up to $945 million. The decision to delay the IPO, originally slated for June, was driven by the desire for a premium valuation that market conditions could...
READ MOREGlobal copper smelting activity saw a boost in July as several smelters resumed operations following maintenance, according to data from satellite surveillance firm Earth-i. The company, which tracks up to 90% of global smelting capacity through its SAVANT service, reported that an average of 17.1% of global copper smelter capacity was inactive in July, down...
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Evolution Mining has reported a record annual profit of $422 million, driven by strong demand for gold and copper. This impressive result allowed the company to more than double its final dividend, reflecting a robust performance that exceeded market expectations. The company’s final dividend has been increased to 5 cents per share, fully franked, up...
READ MOREAluminium Bahrain (Alba), one of the world’s largest aluminium smelters, has posted a significant profit increase for the second quarter of 2024, reporting BD68.5 million (US$182.2 million), up 129.2% compared to BD29.9 million (US$79.5 million) in the same period in 2023. The company also reported Basic and Diluted Earnings per Share of fils 48 for...
READ MOREAs China accelerates the development of its battery supply chain, the global lithium market is encountering a precarious situation with potential opportunities for price recovery, despite recent lows. Speaking at the Diggers and Dealers Mining Forum in Kalgoorlie, Australia, on August 7, Ken Brinsden, CEO and President of Patriot Battery Metals Inc., expressed optimism about...
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China’s copper cathode rod output increased significantly in July, reaching 851,000 metric tonnes, according to data released by the Shanghai Metals Market (SMM) on Wednesday. This marks an increase of 47,900 metric tonnes from June, with the industry operating rate rising to 65.1%, up 2.6 percentage points month-over-month and 1.3 percentage points year-over-year. The rise...
READ MOREResouro Strategic Metal has announced a significant advancement in its metallurgical studies for the Tiros Titanium and Rare Earth Elements Project in Brazil. This update marks an important milestone in the development of the project, demonstrating the potential for high levels of rare earth extraction. Following the release of the Company’s maiden JORC Mineral Resource...
READ MORECopper prices fell on Tuesday, halting three consecutive sessions of gains due to increasing inventories and tepid demand from China, the largest consumer of metals. The decline was moderated by news of an impending strike at BHP’s Escondida copper mine in Chile, after union negotiations failed. As of 1000 GMT, three-month copper on the London...
READ MORENickel Prices Approaching a Floor According to Morgan Stanley, nickel prices might be nearing their lowest point, with the year-end price target of $16,000 per ton already achieved. While short-term rallies may occur due to existing market conditions, elevated nickel inventories and weak demand are likely to hinder any sustained price increases. Nickel inventories globally...
READ MOREInternational mining giant Anglo American has received authorization from the Azerbaijani government to raise the walls of its tailings dam at the Gedabek mine, allowing the company to resume normal production and strengthen its future sustainability. The planned increase of the tailings dam wall by an additional seven meters is aimed at enhancing the load-bearing...
READ MOREResearchers from Tula have made a significant breakthrough in catalysis by developing a new environmentally friendly catalyst using palladium, a precious metal more commonly associated with jewelry. This advancement has the potential to revolutionize chemical reactions by enhancing efficiency while minimizing environmental impact. The team of eight scientists started working on the project in 2022...
READ MORESims, a prominent metal recycling company valued at $2 billion, has sold its UK operations to Unimetals Group for approximately £195 million ($377 million). The announcement was made after the market closed in Australia on Monday. Under the terms of the deal, Unimetals will acquire 28 facilities, including three port facilities and four shredders. The...
READ MORELi-S Energy, an Australian battery technology company, has inaugurated its new 2MWh lithium sulfur and lithium metal battery production facility in Geelong, Victoria. The facility, Australia’s largest pouch cell production line, will also manufacture lithium foils and laminates, following a government grant to support its development. The official launch was attended by Dr. Lee Finniear,...
READ MOREBarrick Gold, a leading Canadian gold producer, reported increased earnings in the second quarter of 2024, driven by higher gold and copper prices. The company posted net earnings of $370 million, or 21 cents per share, compared to $305 million, or 17 cents per share, in the same quarter last year. When adjusted for certain...
READ MORENickel producers are grappling with declining prices, forcing many to reassess their operational strategies as market conditions worsen. In Western Australia, IGO’s Nova nickel-copper operation is approaching the end of its productive life, reflecting a broader trend affecting the industry. Nickel prices have significantly declined, with the London Metal Exchange reporting a cash price of...
READ MOREThe share of Russian-origin aluminum stocks in London Metal Exchange (LME) warehouses increased significantly in July, reaching 65%, up from 50% in June, according to data released on Monday. In contrast, Indian-origin aluminum stocks decreased, dropping to 33% from 40%. Overall, on-warrant aluminum stocks from all origins in LME-registered warehouses saw a decline of 23%...
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