China’s CMOC, along with other mining companies, has applied to register copper from the Democratic Republic of Congo (DRC) for delivery against London Metal Exchange (LME) contracts. This move could see large volumes of copper from the DRC, the world’s second-largest copper producer, entering LME-approved warehouses as soon as next year, according to sources familiar...
READ MORECopper 360 has commenced underground mining operations at its Rietberg Mine in the Northern Cape Province of South Africa. This marks the first time in over 40 years that copper is being mined in the O’Kiep Copper District, an area with a rich mining history dating back to 1661. The reopening of Rietberg Mine is...
READ MOREArcadium Lithium has announced the acquisition of Li-Metal’s lithium metal business for $11 million in an all-cash deal. The acquisition includes the intellectual property and physical assets associated with lithium metal production, including a pilot production facility located in Ontario, Canada. Key personnel from Li-Metal’s lithium metal operations will transition to Arcadium Lithium as part...
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In a volatile trading session on Thursday, August 1, spot gold prices experienced significant fluctuations during the New York session. Prices initially dropped sharply from above $2,460 per ounce to below $2,435 per ounce. Earlier in the day, during the European session, gold prices reached an intraday low of $2,430.12 per ounce. The New York...
READ MOREAurubis, a leading global supplier of non-ferrous metals and one of the largest copper recyclers, reported a significant increase in earnings for the first nine months of the 2023/24 fiscal year. The company achieved its best quarter ever despite a major operational shutdown, highlighting its robust performance and economic resilience. Operating earnings before taxes (EBT)...
READ MOREAlliance Nickel’s Faith in the Future of Nickel Ambitious Plans for NiWest Project Alliance Nickel, an Australian mining company, has ambitious plans to begin mining and processing nickel-cobalt ores from its NiWest project in 2027. The company aims to produce 90,000 tonnes of nickel and 7,000 tonnes of cobalt annually. The NiWest project, located in...
READ MOREThe Russian government approved a cathode active materials (CAM) facility in the Arctic. This facility will produce cathode materials, a mixture of lithium, nickel, manganese, and cobalt, essential for lithium-ion batteries used in electric vehicles. The decision to base production at the Kola Mining and Metallurgical Company, a subsidiary of the one of the world’s...
READ MOREDundee Precious Metals has released its operating and financial results for the second quarter and the first half of 2024, showcasing record achievements in free cash flow and adjusted net earnings. All figures are reported in U.S. dollars and pertain to continuing operations. During Q2 2024, DPM generated a record $82.4 million in free cash...
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Asturiana de Zinc has announced plans for a new heat recovery facility at its San Juan de Nieva plant in Avilés, which is expected to produce around 33,000 MWh annually. This initiative aims to reduce the plant’s carbon footprint by approximately 6,000 tons of CO2 per year. The facility will feature a new steam turbogenerator,...
READ MOREHindustan Zinc, a leading integrated producer of zinc, lead, and silver under the Vedanta Group, has reported robust financial and operational performance for the first quarter of FY25, ending in June 2024. The company’s revenue from operations rose by 12% year-over-year to ₹8,130 crore, driven by increased metal volume and higher metal and silver prices,...
READ MOREChina’s state planner announced new targets for the use of renewable energy in aluminium production across key provinces on Friday. This move is part of China’s broader strategy to reduce carbon emissions and enhance sustainable practices in its industrial sectors. Shandong Province, the country’s largest aluminium producer, has been tasked with achieving 21% of its...
READ MORECenterra Gold has announced its second-quarter 2024 financial and operational results, demonstrating strong performance and strategic progress across its key projects. President and CEO Paul Tomory highlighted the company’s continued solid operating performance and consistent cash flow from operations, aligning with the company’s guidance for the year. Operational Highlights Financial Highlights
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GreenX Metals has announced an Earn-in Agreement to acquire a 90% interest in Group 11 Exploration GmbH, a private German company that holds the Tannenberg exploration licence. This project is located in central Germany and is considered highly promising for sediment-hosted copper deposits, specifically the Kupferschiefer type. The Tannenberg exploration licence spans 272 square kilometers...
READ MOREAmidst heightened demand driven by the rise of artificial intelligence and increased consumption in the tech sector, copper supply remains a focal point of global interest. Earlier this year, Forbes highlighted a looming showdown between the United States and China over dwindling copper resources, with prices soaring. Although copper prices have dipped slightly in recent...
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Stu Shaun Staushorn, CEO of Rio Tinto, has suggested that the company may pursue significant mergers and acquisitions (M&A) as it looks to expand its lithium and copper operations. This marks a notable shift in strategy for the mining giant amid a broader trend of consolidation within the industry, as reported by local newspapers on...
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Capstone Copper has announced its financial results for the second quarter of 2024, highlighting robust copper production and significant financial gains. For the quarter ending June 30, 2024, Capstone produced 40,937 tonnes of copper at C1 cash costs of $2.84 per payable pound of copper. CEO John MacKenzie praised the company’s performance, noting the successful...
READ MOREThe New York trading session on August 1st witnessed significant fluctuations in spot gold prices, with a dramatic drop from above $2,460 per ounce to below $2,435 per ounce. Thursday’s trading saw heightened volatility, with spot gold reaching an intraday low of $2,430.12 per ounce in the European market. Later, prices climbed sharply to an...
READ MOREOn Thursday, August 1, spot silver experienced a significant drop, declining more than 2% during the trading session. According to FXStreet analyst Christian Borjon Valencia, the fall in silver prices was driven by recession fears and increased risk aversion among investors. The failure of silver to close above $29.00 per ounce contributed to the bearish...
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Amidst intense industry competition and a push to reduce costs, Contemporary Amperex Technology Co., Limited (CATL), the world’s leading battery manufacturer, has scaled back on research and development (R&D) investments and shifted its cost management upstream. Despite these challenges, CATL reported substantial profits in the first half of 2024. On July 26, CATL released its...
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The London Metal Exchange (LME) has announced the addition of Jeddah, Saudi Arabia, as a new delivery location for copper and zinc, marking the first new listing since Amsterdam in 2018. This expansion is set to take effect three months after the approval of the first warehouse. Additionally, the LME is exploring the inclusion of...
READ MOREIvanhoe Mines has announced its financial results for the second quarter of 2024, reporting a profit of $67 million and a record normalized profit of $115 million. The strong performance was largely driven by the Kamoa-Kakula joint venture, which contributed $90 million to the income. For Q2 2024, Ivanhoe Mines recorded an Adjusted EBITDA of...
READ MOREOn Wednesday, spot gold prices surged over $36, closing at $2,446.91 per ounce after rising to a high of $2,450.93 per ounce during the New York trading session. This increase was driven by Federal Reserve Chairman Jerome Powell’s dovish remarks, which affected the U.S. dollar and bond yields, and escalating tensions in the Middle East....
READ MOREOn Tuesday, Cameroon entered into a bauxite mining agreement with Camalco, a subsidiary of the Australian company Canyon Resources, in a deal valued at over $2 billion. This 20-year agreement focuses on developing a direct shipment of ore (DSO) project at the Minim-Martap mine, located in northern Cameroon. The Minim-Martap mine, spanning nearly 500 square...
READ MOREOn Wednesday, spot silver prices surged more than 2% following dovish comments from Federal Reserve Chairman Jerome Powell and heightened tensions in the Middle East. The price of spot silver climbed past the key resistance level of the 100-day moving average (DMA) to close at $28.98 per ounce, marking a 2.15% increase. The Federal Reserve...
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