Centamin will be the latest goldminer to exit the London stock market following its £1.9 billion ($2.37 billion) takeover by AngloGold Ashanti. This move comes as the price of gold hits record highs and London-listed miners struggle with valuation discounts. AngloGold Ashanti, headquartered in Johannesburg, has secured an attractive deal, offering a 37% premium to...
READ MOREThe potential merger would position the combined entity as one of the largest aluminium producers globally, offering numerous strategic advantages, including increased production capacity, a broader global presence, improved environmental, social, and governance (ESG) performance, enhanced energy security, and greater shareholder value. HE Khalid Al Rumaihi, Chairman of Alba’s Board, emphasized that this partnership aligns...
READ MOREItaly’s government has decided to reallocate €200 million ($222.78 million) in European Union funds, previously designated for a Stellantis-led battery plant in Termoli, to other green initiatives. This decision follows Stellantis’ announcement of delays in its European battery gigafactories, driven by slower-than-expected demand for electric vehicles (EVs). Automotive Cells Company (ACC), a joint venture involving...
READ MORESigma Lithium has shipped its 12th vessel of Quintuple Zero Green Lithium to Japan’s Mitsubishi, reinforcing its position as a leading global lithium producer. This marks Sigma’s second sale to Mitsubishi, further strengthening its commercial partnership. The company remains on track to meet its third-quarter production target of 60,000 tonnes of Quintuple Zero Green Lithium,...
READ MOREFPX Nickel has announced significant progress in its value engineering studies, positioning the company to develop North America’s largest battery metals refinery. The refinery, designed to produce 32,000 tonnes of nickel in nickel sulphate annually, could support the production of around 450,000 electric vehicles each year. These studies have optimized the purification flowsheet, substantially improving...
READ MOREThe United States Geological Survey (USGS) reported that domestic primary aluminum production in the US was 55,000 metric tons (t) in June 2024, with average daily production at 1,830 t. This marks a slight decrease from the 1,840 t reported in May 2024, 12% less than in June 2023, and 30% lower than June 2022...
READ MOREIvanhoe Electric has provided an update on the Santa Cruz Copper Project in Arizona, where it continues to make strides towards project development. The company remains on schedule to complete its Preliminary Feasibility Study (PFS) by the second quarter of 2025. This study, which is now 50% complete, will be critical for Ivanhoe Electric’s decision-making...
READ MORESwedish mining company Boliden is reportedly in discussions to acquire the Zinkgruvan mine, located in Askersund municipality, from Lundin Mining, according to a report by Dagens industri. This comes after Lundin Mining’s CEO, Jack Lundin, confirmed earlier this week that the company is looking to sell its European assets, including the Neves Corvo zinc and...
READ MORECodelco and SQM have taken a step forward in their collaboration to produce lithium in the Salar de Atacama. The National Economic Prosecutor’s Office (FNE) in Chile has begun the process of reviewing the antitrust aspects of the Association Agreement between the two companies, which was signed on May 31, 2024. This investigation is a...
READ MOREZambia’s largest mines are turning to South Africa’s Eskom Holdings to combat a severe energy crisis caused by a historic drought. This crisis has depleted the country’s hydropower resources, threatening the shutdown of the Kariba Dam, the world’s largest man-made reservoir, which supplies the majority of Zambia’s power. The drought has reduced power generation, leaving...
READ MORESaudi Arabian Mining Company (Ma’aden) has announced a major acquisition deal to purchase the remaining shares of Ma’aden Bauxite and Alumina Company (MBAC) and Ma’aden Aluminium Company (MAC), previously held by subsidiaries of Alcoa Corporation. The Share Purchase and Subscription Agreement (SPSA), signed on September 15, 2024, will allow Ma’aden to acquire a 25.1% stake...
READ MOREDMCI Mining is expecting a recovery in its nickel mining business, driven by a recent uptick in global nickel prices, according to the company’s president, Tulsi Das C. Reyes. The first three quarters of 2024 were marked by significant challenges, with prices dropping by 40% to 50%, but the last 30 to 45 days have...
READ MORETrue North Copper has successfully ramped up mining activities at its Wallace North deposit, part of the Cloncurry Copper Project (CCP) in Queensland. The company remains on track to become Australia’s next copper producer and critical metals supplier by the first quarter of 2025, as CCP progresses toward restarting operations. To date, approximately 155,000 bank...
READ MOREJapan Develops Innovative Alloy for Aviation Researchers at Japan’s National Institute of Materials Science have created an alloy of titanium and nickel that combines the strength of steel with the elasticity of rubber. In experiments, the alloy was elongated by 50% and then further stretched by 12% after being heated to 300°C. This process resulted...
READ MOREGold prices increased on Thursday, driven by expectations of a U.S. Federal Reserve interest rate cut next week. Meanwhile, supply concerns from Russia, the world’s largest palladium producer, pushed palladium above the key $1,000 per ounce level. Spot gold was up 0.1% at $2,513.78 per ounce by 1107 GMT, supported by the 21-day moving average...
READ MORESibanye-Stillwater, a major South African precious-metals miner, has revised its gold production guidance downward for the year and reported a larger-than-expected net loss for the first half of 2024. The company’s financial performance was hurt by persistently weak platinum prices and a $401 million impairment related to declining palladium price forecasts. For the first half...
READ MORENth Cycle, a U.S.-based metal-refining startup, has opened its first commercial nickel-cobalt refinery in Ohio, with plans to partner with recyclers and eventually miners to produce metals with less waste. The facility, which received a $7.2 million tax credit under the Inflation Reduction Act, produces mixed hydroxide precipitate (MHP), a key precursor material used by...
READ MOREThe Rochester mine, part of Coeur Mining, is on track to meet its full-year 2024 production guidance, with plans to process 8.0 million tons of ore per quarter in the second half of the year. The company anticipates producing between 4.8 to 6.6 million ounces of silver and 37,000 to 50,000 ounces of gold for...
READ MOREFrom January to July 2024, Uzbekistan’s copper tube production surged by 33.9% year-on-year, reaching 17.4 thousand tons, according to the country’s Statistical Agency. In July alone, production amounted to 2.5 thousand tons, reflecting the growing capacity of the sector. Uzbekistan’s metal exports also saw a significant boost, with the country exporting $84.3 million worth of...
READ MOREThe Aurora joint venture project, formed in 2021 by Portuguese oil company Galp and Swedish battery manufacturer Northvolt, to build a lithium refinery in Setúbal, Portugal, may face a two-year delay, pushing its completion date to 2028. The original target was to begin production in 2026, with the refinery capable of producing 52,000 tons of...
READ MOREGold prices surged more than 1% on Thursday, reaching a record high as expectations for an interest rate cut by the U.S. Federal Reserve next week strengthened following data suggesting a slowing U.S. economy. Spot gold climbed 1.6% to $2,552.63 per ounce by 11:40 a.m. ET (1540 GMT), while U.S. gold futures rose 1.5% to...
READ MOREIn July 2024, Russia reclaimed its position as the top aluminum supplier to South Korea, increasing exports by 48% compared to June, reaching 29.8 thousand tons, according to reports from *RIA Novosti*. This marked the highest volume since March and amounted to $78 million in shipments. Russia had previously been the leading supplier in March...
READ MORESouth Korea’s Doosan Corporation has completed the construction of a state-of-the-art copper foil plant, which will produce materials essential for automotive electronic components and 5G communication equipment. The company held a ceremony on Thursday to mark the completion of the high-end flexible copper-clad laminate (FCCL) plant at the Horizon Industrial Complex in Gimje, North Jeolla...
READ MORESpot silver surged by more than 4% on Thursday, closing the session at $29.86 per ounce, driven by a weakened U.S. dollar and positive technical momentum. According to FXStreet analyst Christian Borjon Valencia, silver prices saw a sharp rally from a daily low of $28.54 per ounce, peaking at $29.90 as the U.S. Dollar Index...
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