Korea Zinc’s Chief Technical Officer (CTO), Lee Je-joong, and key engineers have announced plans to resign if the $1.5 billion takeover bid by private equity firm MBK Partners and Korea Zinc’s largest shareholder, Young Poong, succeeds. The declaration was made during a press conference, underscoring the escalating power struggle between the two founding families of...
READ MORENickel Industries, an Australian mining company, has completed the acquisition of a 51% stake in the Siduarsi Project in Indonesia from PT Iriana Mutiara. The Siduarsi Project is a 6th generation Contract of Work (CoW) and is one of only four active nickel CoWs in Indonesia. The deal was valued at AUD 5 million (USD...
READ MOREUranium Energy has reached an agreement to acquire Rio Tinto’s uranium assets in Wyoming, including the fully-licensed Sweetwater uranium processing plant and several mining projects. The $175 million cash transaction, expected to close in the fourth quarter of 2024, will enhance Uranium Energy’s production capabilities, adding around 175 million pounds of historic uranium resources to...
READ MOREScandium Canada, a technology metals company, has filed a provisional patent with the United States Patent and Trademark Office for aluminum scandium (Al-Sc) alloy powders specifically designed for additive manufacturing (AM). Developed in collaboration with McMaster University in Ontario, the alloys represent a significant intellectual property milestone after three years of research. The new patent,...
READ MOREChina’s leading copper smelters have called for reductions in output as raw material shortages persist, sources familiar with the matter revealed on Tuesday. At a meeting of the China Smelters Purchase Team (CSPT) in Shanghai, participants urged cuts in production and extensions of maintenance periods, although no formal decision was reached. China, which accounts for...
READ MORERio Tinto, a major British resource company, is preparing to increase its sales of scandium, a byproduct of titanium dioxide production, in response to rising demand. The company sees substantial growth potential for scandium oxide, particularly for use in high-strength aluminum alloys. Currently producing 3 tons of scandium annually in Canada, Rio Tinto is considering...
READ MOREAnson Resources has announced that its U.S. subsidiary, A1 Lithium, has received a non-binding Letter of Interest (LoI) from the Export-Import Bank of the United States (US EXIM) for up to $330 million in debt funding. This funding, if finalized, will be used for the construction of a lithium production plant in Utah as part...
READ MOREKGHM, the Polish mining group, reported a 43% decline in payable silver production in August, with output reaching 75.1 tonnes due to a maintenance shutdown at its precious metals plant. Silver sales also fell, amounting to 85.1 tonnes, down 34% year-on-year. Despite the drop in silver production, KGHM’s copper operations performed strongly. Payable copper production...
READ MOREEnerSys, a global leader in stored energy solutions, has been awarded $199 million in funding from the U.S. Department of Energy (DOE) to support the construction of a lithium-ion cell production facility in Greenville, South Carolina. The funding is part of the DOE’s $62 billion Bipartisan Infrastructure Law (BIL) Battery Materials Processing and Battery Manufacturing...
READ MORECentury Lithium announced successful production of battery-grade lithium carbonate at its Lithium Extraction Facility in Amargosa Valley, Nevada, part of the company’s Angel Island project. Assays from the second batch of lithium carbonate processed at the facility revealed a purity level of 99.5%, meeting battery-grade standards. CEO Bill Willoughby expressed satisfaction with the Pilot Plant...
READ MOREArtificial Intelligence to Exacerbate Copper Shortages Developments in the artificial intelligence sector are expected to aggravate the looming shortage of copper, a metal crucial for the global transition to cleaner energy sources, according to Vandita Pant, CFO of BHP Group. The growth of data centers and AI technologies, which demand higher energy consumption for computing,...
READ MOREOn Monday, September 23, President Joko Widodo inaugurated a new copper smelter in Indonesia, operated by Amman Mineral. The facility is part of Indonesia’s efforts to enhance its position in global copper production and reduce reliance on exporting raw materials. The new copper processing plant, located in West Nusa Tenggara, was built at a cost...
READ MOREMetso has reported positive feedback from customers following the launch of its pCAM plant, designed for the production of precursor cathode active material (pCAM) used in lithium-ion batteries. Introduced in June 2024, the Planet Positive-certified solution has garnered interest from producers in North America, Australia, and Europe. Markus Koponen, Technology Manager for Precursors at Metso,...
READ MOREHamburg-based copper producer Aurubis has inaugurated a new recycling plant in Augusta, Georgia, marking a significant investment of approximately €740 million (USD 789 million). The new facility will process a range of materials, including printed circuit boards and copper cables, as part of the company’s multi-metal production strategy. Beyond copper, the plant will also produce...
READ MORETerraVolta Resources, a leading U.S. critical minerals exploration and production company, has been chosen by the U.S. Department of Energy (DOE) to receive a $225 million award to support the development of a lithium production facility in the Texarkana region, which spans Arkansas and Texas. The award is part of the DOE’s efforts, under the...
READ MORERussian companies are expressing growing interest in the potential for lithium extraction from underground water, according to the Russian Ministry of Natural Resources. The ministry confirmed to TASS that Rosnedra, the Russian Federal Agency for Subsoil Use, has already issued 15 licenses for prospecting, exploration, and extraction of lithium from industrial waters. The Ministry noted...
READ MOREStandard Lithium, a near-commercial lithium development company, and Equinor, a global energy leader, have announced that their joint U.S. subsidiary, SWA Lithium, has been selected for a potential $225 million grant from the U.S. Department of Energy (DOE). This award, part of the Infrastructure Investment and Jobs Act, is aimed at expanding domestic manufacturing of...
READ MOREShares of Korea Zinc, the world’s largest metal processing company, rose sharply following expectations of an increased takeover bid from South Korean investment firm MBK Partners and Young Poong, according to reports from foreign media. On September 19, Korea Zinc’s shares closed at 707,000 won, valuing the company at 14.7 trillion won ($11.1 billion), surpassing...
READ MORECommodity trading giant Trafigura is set to name Richard Holtum as its new chief executive, according to a report from the Financial Times on Friday, citing sources familiar with the matter. Holtum, who currently leads Trafigura’s gas, power, and renewables division, has seen a swift rise within the company since joining from Glencore in 2014....
READ MOREZambia’s copper production currently stands at 800,000 metric tonnes per year, but the government is setting its sights on a significant increase, aiming to boost output to 3 million tonnes by 2031. This ambitious target was highlighted by Mines Ministry Permanent Secretary Hapenga Kabeta during the launch of PwC Zambia’s Mining Sector Review Report. Kabeta...
READ MOREThe U.S. Energy Department announced plans to allocate $3 billion in funding to 25 battery manufacturing projects across 14 states, as part of the Biden administration’s efforts to reduce reliance on China for critical minerals and battery production. These projects will enhance domestic capacity for producing advanced batteries and battery materials, following the introduction of...
READ MOREOn September 18, Alaska Energy Metals announced a partnership with the Colorado School of Mines and Virginia Polytechnic Institute to investigate how much carbon dioxide a mine at its Nikolai project in Alaska could capture and store, while also supplying nickel, copper, cobalt, and platinum group metals (PGMs) for the energy transition. The study focuses...
READ MOREThe global zinc market surplus dropped to 14,000 metric tons in July 2024, down from 36,400 tons in June, according to data released by the International Lead and Zinc Study Group (ILZSG) on Wednesday. From January to July 2024, the global zinc surplus totaled 254,000 tons, a significant decrease from the 466,000-ton surplus recorded during...
READ MOREGold prices experienced significant volatility in the New York session after the Federal Reserve announced a 50 basis point interest rate cut. Spot gold initially surged to a new record high of $2,600.15 per ounce, only to plummet shortly after Federal Reserve Chairman Jerome Powell’s comments. Gold dropped sharply, falling as low as $2,546.79 per...
READ MORE
