Barrick Gold reported preliminary third-quarter production of 943,000 ounces of gold and 48,000 tonnes of copper, along with preliminary sales of 967,000 ounces of gold and 42,000 tonnes of copper. The company continues to anticipate a materially stronger fourth quarter, aiming to achieve its full-year gold and copper production guidance. The average market price for...
READ MOREThe European aluminum industry needs urgent support to remain competitive in the face of high energy and raw material prices, according to Paul Voss, CEO of the European Aluminium Association, in an interview with S&P Global Commodity Insights. Voss highlighted that European aluminum producers face significantly higher electricity costs compared to their counterparts in other...
READ MORESpot gold fell nearly \$15 on Wednesday, as the release of the Federal Reserve’s latest meeting minutes prompted market expectations for steady interest rates in November, strengthening the U.S. dollar and putting pressure on gold prices. Gold closed down \$14.13, or 0.54%, at \$2,607.71 per ounce, with intraday lows reaching \$2,605.16 per ounce. According to...
READ MOREThe premium for aluminium shipments to Japanese buyers for the October to December period has been set at $175 per metric ton, reflecting a 1.7% increase from the previous quarter, according to four individuals directly involved in pricing talks. This rise aligns with higher premiums seen in Europe. The new figure surpasses the $172 per...
READ MOREFortune Minerals has hired Worley Canada Services to lead additional engineering work and prepare an updated feasibility study for the NICO Cobalt-Gold-Bismuth-Copper Project in Canada. The project includes a mine and concentrator in the Northwest Territories and a hydrometallurgical facility in Alberta. The updated study will assess current project costs, commodity prices, and recent optimizations,...
READ MORERusal plans to start construction of the second stage of the Boguchansk aluminium smelter in 2025, according to Renaissance Capital. This expansion will double the smelter’s production capacity to 596,000 tonnes per year, with the start-up complexes being commissioned in stages until 2030. The total investment in the project will be updated by the end...
READ MOREThe London Metal Exchange has started accepting nickel deliveries from the Norilsk Nickel Harjavalta plant in Finland—of Russian mining giant Nornickel—ending the temporary halt that started in July 2024. This was not due to sanctions but also a delay in performing an audit to confirm the reliability of metal supplies coming into LME warehouses. Nornickel...
READ MORERio Tinto Group is aiming to begin production at its Resolution copper joint venture in Arizona, in partnership with BHP Group, by the end of the decade, according to an interview with CEO Jakob Stausholm, reported by Bloomberg News on September 26. The Resolution project, which has faced various delays, is reportedly nearing the end...
READ MOREIndia’s pursuit of carbon neutrality heavily relies on securing key metals like copper and nickel, essential for the renewable energy sector and the electric vehicle (EV) industry. These materials are crucial to reducing reliance on external sources, and recycling is expected to play a major role in establishing a sustainable and reliable supply chain. Copper,...
READ MOREGlobal alumina production held steady in August, reaching 12.51 million tons, according to the International Aluminium Institute. The output was virtually unchanged both from July’s figures and from the same period last year. Daily average global alumina production saw a slight increase, reaching 403,612 tons in August, compared to the revised figure of 403,581 tons...
READ MOREHindustan Copper (HCL) is moving forward with major expansion projects aimed at increasing its copper mine production capacity to 12.2 million tons per annum (MTPA), a move that will significantly enhance India’s domestic copper output. One of the key components of this expansion is the development of an underground mine beneath the existing open cast...
READ MOREBHP Chief Financial Officer Vandita Pant emphasized the growing challenges in meeting the rising global demand for copper during a keynote interview at the Financial Times Mining Summit in London. Pant projected a 70% growth in copper demand from now until 2050, driven by traditional industrial sectors as well as new requirements from decarbonization, energy...
READ MORESpot gold prices surged to a new record of $2,685.58 per ounce during Thursday’s trading session, driven by a weakening U.S. dollar and escalating geopolitical tensions. Gold closed the day up $15.68, or 0.59%, at $2,672.23 per ounce, marking a continuation of gold’s upward trend. FXStreet analyst Christian Borjon Valencia attributed gold’s rally to factors...
READ MOREGanfeng Lithium, one of China’s largest lithium producers, is set to deepen its investments in Africa, particularly in the mining sector, as part of its global expansion strategy, according to a recent interview with company executives by China Daily. The company is advancing key projects such as the Mboukoumassi potassic salt ore project in Africa...
READ MOREBHP, a leading global resources company, and Liebherr, a pioneer in mining equipment, have signed a new Global Framework Agreement (GFA) at MINExpo 2024 in Las Vegas. The agreement builds on over two decades of partnership, focusing on advancing mining technology and sustainability. The GFA seeks to enhance BHP’s mining operations by incorporating Liebherr’s innovations...
READ MORENovelis has announced the recovery and imminent restart of operations at its Sierre plant in Switzerland, following a severe flood in late June that caused significant damage. The company expects the plant to resume production by the end of October after successfully restoring major assets by the end of September. The flood heavily impacted the...
READ MOREPT Freeport Indonesia has officially commenced operations at its new copper smelter in Gresik, East Java. The $3.7 billion facility is set to process 1.7 million tonnes of copper concentrate annually, with an output capacity of 900,000 tonnes of copper cathode, 50 tonnes of gold, and 210 tonnes of silver each year. President Joko “Jokowi”...
READ MORERussia significantly increased its aluminum exports to China during the first eight months of 2024, reaching a record $2.3 billion, according to an analysis of Chinese customs data by RIA Novosti. This represents a 1.4-fold increase compared to the same period last year and a dramatic rise from $60.6 million in 2019. While aluminum sales...
READ MORESienna Resources has significantly expanded its land holdings at the Case Lake West Cesium and Spodumene Pegmatite Project in the Larder Lake Mining Division of Ontario, Canada. The project, located roughly 100 kilometers north of Kirkland Lake, now covers approximately 4,200 contiguous acres. This area is considered highly prospective for cesium and spodumene pegmatites, and...
READ MOREKAZ Minerals, a leading copper producer in Kazakhstan, announced a 4% year-on-year decrease in copper production for the first half of 2024, totaling 190,900 tonnes. The drop in output was primarily due to a lower ore grade, though record ore processing levels—47.5 million tonnes, up 7% from the same period in 2023—partially mitigated the impact....
READ MOREPlatinum group metals (PGMs), including platinum and palladium, are experiencing a renewed surge in demand, driven by the rising sales of hybrid vehicles. The shift in the automotive industry toward plug-in hybrids, as opposed to pure electric vehicles (EVs), is reversing the decline in PGM usage seen over the past few years. PGMs, which are...
READ MOREBoliden and Komatsu have announced a significant step in their ongoing collaboration to electrify and automate mining trucks at the Aitik open-pit copper mine. In a world-first development, the two companies introduced a mining truck that can be converted to battery operation, marking a new milestone in the move towards fossil-free mining. At Aitik, Boliden...
READ MOREThe World Copper Factbook 2024, published by the International Copper Study Group (ICSG), highlights significant long-term trends in the global copper market. Since 1900, when global copper production stood at less than 500,000 tonnes, the annual growth rate has averaged 3.14%, reaching 22.4 million tonnes in 2023. Solvent extraction-electrowinning (SX-EW) production, which was virtually non-existent...
READ MOREElectra Battery Materials announced the successful production of technical-grade lithium carbonate with over 99% purity from its black mass recycling project, a significant step in the company’s efforts to produce high-quality battery materials. This achievement further demonstrates Electra’s capability to process black mass into valuable products such as nickel-cobalt mixed hydroxide precipitate (MHP) and graphite....
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