Aluminium Bahrain (Alba), the world’s largest single-site aluminium smelter, has formed a strategic partnership with Japan’s Daiki Aluminium Industry Company to establish a sustainable aluminium dross processing facility in Bahrain. The collaboration aims to enhance the recycling and sustainability of aluminium production in the region. The Memorandum of Understanding (MoU) was signed at Alba’s premises,...
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Glencore, the Swiss-based commodities giant, has announced that it has stopped accumulating cobalt reserves, according to CEO Gary Nagle. Despite this decision, the cobalt market is anticipated to remain in surplus for the next 18 to 20 months due to increased production, particularly from the Democratic Republic of Congo (DRC). Last August, Glencore revealed it...
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Zambia’s new Minerals Regulation Commission Bill has sparked concerns among key mining industry groups, who warn that it could deter investment and harm the country’s objective to increase annual copper production to 3 million metric tons. As Africa’s second-largest copper producer, Zambia’s move to reform its mining laws has drawn significant attention. The proposed legislation...
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Ken Brinsden, a key figure in the lithium industry, has proposed the introduction of a strategic pricing system akin to Australia’s former wheat desk to aid the critical minerals sector and help it compete with China’s market dominance. Speaking at the Diggers and Dealers conference, Brinsden suggested that setting a stable price for lithium and...
READ MOREThe global shift toward electrified economies is reshaping perceptions of energy security, with the supply of critical minerals like lithium, graphite, copper, and rare earths now dictating the pace of energy technology deployment. As countries scramble to secure these essential resources, the U.S. finds itself facing significant supply chain vulnerabilities despite its abundant mineral reserves....
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On Tuesday, spot gold prices dropped nearly $20, closing below $2,390 per ounce. The decline was attributed to the strengthening of the U.S. dollar and rising U.S. Treasury yields, which diminished the appeal of gold as a safe-haven asset. A rebound in global stock markets also contributed to the decrease in gold prices. Spot gold...
READ MOREThe U.S. Department of Defense has awarded $11.8 million to Lithium Nevada Corporation to expedite the extraction and processing of lithium carbonate. This funding, provided through the Defense Production Act Investment (DPAI) office, aligns with the 2024 National Defense Industrial Strategy’s goal to enhance domestic production of critical minerals. Dr. Laura Taylor-Kale, Assistant Secretary of...
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Impala Platinum has reported significant production and operational achievements for the fiscal year 2024, despite facing a challenging operating environment. The company successfully navigated various obstacles to deliver guided production volumes and maintain cost controls. The group’s total 6E production increased by 13% to 3.65 million ounces compared to 3.25 million ounces in FY2023. Excluding...
READ MOREHecla Mining Company has announced its financial and operational results for the second quarter of 2024, marking significant achievements in silver and gold production. Hecla reported the production of 4.5 million ounces of silver, the second-highest in the company’s history. Lucky Friday Mine achieved its highest silver production since 2000, with 1.3 million ounces, supported...
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Nickel Asia Corporation (NAC) has reported a 35% decrease in attributable net income for the first half of 2024, with earnings dropping to P1.12 billion from P1.75 billion during the same period last year. This decline is attributed to lower nickel prices impacting the company’s financial performance. The company’s earnings before interest, taxes, depreciation, and...
READ MOREArcadium Lithium has announced a review of its operations at Mount Cattlin in Western Australia, joining a growing number of lithium producers reassessing their strategies due to plummeting prices for the battery raw material. The lithium market has been shaken by a rapid increase in supply that has outpaced demand projections from several years ago,...
READ MORECentury Lithium has announced the successful integration of a lithium carbonate production stage at its Lithium Extraction Facility, also known as the Pilot Plant, located in Amargosa Valley, Nevada. This development is part of the company’s 100%-owned Angel Island Mine project. Prior to this addition, concentrated lithium solutions from the Pilot Plant were sent to...
READ MORERusal is spearheading research and development on designing an aluminum subway car, collaborating with top engineering firms and machine-building enterprises, alongside Russian subway systems. The initiative aims to create a lighter and more economically efficient alternative to traditional steel subway cars. Evgeny Vasiliev, Rusal’s Director for Market Development, explained that the primary goal is to...
READ MOREIvan Vella, CEO of IGO, is navigating the challenging process of workforce reductions following the suspension of operations at two of the company’s nickel mines. Despite these setbacks, Vella remains optimistic about the future of the Cosmos nickel mine, which has been put into care and maintenance due to declining nickel prices, reduced mine life,...
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When South Korea’s SK Group sought to expand its copper foil production, Kota Kinabalu in Malaysia emerged as an unexpected but strategic choice. Facilitated by the Malaysian Investment Development Authority (Mida), the SK Group partnered with Sabah’s government to establish SK Nexilis, the world’s largest copper foil factory, at the Kota Kinabalu Industrial Park. SK...
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On Monday, the global stock market turmoil significantly impacted gold prices, resulting in volatility of nearly $95 in a single day, an exceptionally rare occurrence. During the Asian market session, spot gold reached a high of $2,458.78 per ounce before sharply declining to $2,364.19 per ounce in the European session. The gold price then rebounded,...
READ MOREAzerbaijan’s state-owned company, AzerGold, has announced a partnership with V. Investment Group Services to advance the exploration, development, and production of gold, copper, and polymetallic ore deposits in the country. This collaboration covers several key mining sites, including Gadabay, Gosha, Kharkhar, Garadagh, Ordubad (Piyazbashi, Agyurd, Shakardara, Kalaki), Gizilbulag, Demirli, and Vejnali. The agreement aims to...
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On Monday, spot silver experienced a sharp decline, dropping more than 4.5% and falling below the key 100-day moving average. The price closed at $27.23 per ounce after reaching a session low of $26.49. This significant drop reflects a deteriorating risk appetite amid weak U.S. economic data, as noted by FXStreet analyst Christian Borjon Valencia....
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A potential rare earth mining project in Tasmania is progressing following a successful exploration drilling campaign conducted south-east of Devonport. The 37-hole program targeted an area northwest of ABx Group’s high-grade Deep Leads discovery near Westbury, indicating significant promise for rare earth elements in the region. ABx Group, chaired by former Labor premier Paul Lennon,...
READ MOREMaterial scientists in Russia have developed a new aluminum-based alloy with a unique combination of high strength, excellent casting properties, and strong resistance to corrosion. This innovative material, composed of aluminum, zinc, magnesium, copper, zirconium, chromium, and erbium, is poised to benefit industries such as aerospace, automotive, and construction, particularly in extreme temperature environments. The...
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Emirates Global Aluminium (EGA) has completed the world’s first bauxite shipment using a liquefied natural gas (LNG)-powered vessel. This milestone marks a significant step in the company’s efforts to achieve climate neutrality. The shipment originated from EGA’s Guinea Alumina Corporation (GAC) in the Republic of Guinea and was transported to a customer in China. LNG-powered...
READ MOREThe St. Petersburg International Mercantile Exchange (SPIMEX) has proposed initiating exchange trading of Rusal’s low-carbon aluminum brand, Allow. According to a report by Kommersant, SPIMEX has submitted a request to the Russian government to facilitate this initiative. Currently, pricing regulation for aluminum is linked to the London Metal Exchange (LME), where prices are calculated based...
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Glencore International has announced that the Office of the Attorney General of Switzerland (OAG) has concluded its criminal investigation against the company. The investigation was closed with a summary penalty order and an abandonment order. The summary penalty order found GIAG criminally liable for not implementing all necessary and reasonable organizational measures to prevent the...
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Rio Tinto is facing challenges in finding suitable carbon credits in the United States as it strives to meet its emission reduction targets. The majority of the carbon credits the company evaluates are deemed unsatisfactory, highlighting the difficulties that major mining companies face in reducing their carbon footprints. The carbon credits market is undergoing a...
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