Greatland Gold has announced the completion of its inaugural drilling program at the Paterson South project, located in the mineral-rich region of Western Australia. This initial phase was conducted as part of the agreement with Rio Tinto Exploration, a subsidiary of the global mining giant Rio Tinto. The early results have yielded moderate signs of...
READ MORECredit Facility and Debt Repayment Royal Gold has made significant strides in debt management by repaying a total of $250 million of its revolving credit facility in 2023. Amendments to its credit terms were also instituted, extending the facility’s maturity to 2028 and adopting the Secured Overnight Financing Rate (SOFR) as the new interest benchmark,...
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Quarterly Production and Financial Highlights Barrick Gold has announced a rise in gold production and a decrease in production costs for the third quarter of 2023. Key operations contributing to the production uptick include the Cortez, Turquoise Ridge, and Kibali mines. Despite these gains, the company anticipates its annual gold production to fall slightly below...
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Financial Decline: Rusal, a key player in the global aluminum market, has reported a stark decrease in both revenue and net profit for the January to September period of 2023. The revenue fell to approximately 836 million rubles ($9.2 million USD), a substantial drop from the previous year’s 71.31 billion rubles ($785.41 million USD). Net...
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Financial Highlights Taseko Mines has delivered a solid financial performance in the third quarter of 2023, marked by an Adjusted EBITDA of $63 million. The company’s earnings from mining operations stood robust at $65 million before accounting for certain costs, while net earnings for the quarter reached $20 million. Operational Efficiency The Gibraltar Mine, primarily...
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Changing Hands in Siberian Goldfields Roman Trotsenko, the Russian billionaire, has relinquished his controlling stake in Siberian Goldfields, which oversees the Zhelezny Kryazh gold project situated in the Transbaikal Territory. The majority ownership, now lying between 50% and 75%, has been transferred to Gleb Romanovich Trotsenko, identified as one of Roman Trotsenko’s offspring. Past Ownership...
READ MOREA Decrease Observed Worldwide Global alumina production witnessed a 3.2% decline in September, dropping to 12 million tons, as per recent findings from the International Aluminium Institute. Despite this reduction, there was a slight uptick in average daily production, which registered at 400,133 tons, a marginal increase from August’s 399,967 tons. Significant Output Drop in...
READ MOREThird-Quarter Financial Highlights Newmont, a prominent player in the mining sector, has released its third-quarter results for 2023, showcasing a stable performance amidst industry challenges. The company declared a quarterly dividend of $0.40 per share, affirming its financial health. In this period, Newmont reported the production of 1.3 million ounces of gold, complemented by 58...
READ MOREEconomic Strain Hits Hard Amid the devastating repercussions of declining commodity prices, Sibanye-Stillwater contemplates laying off up to 8.6% of its staff in its South African platinum group metals (PGM) operations. This downsizing underscores the severe consequences of the economic downturn over the recent year and a half. Sibanye stands amongst the top-tier global PGM...
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Financial Highlights: A Closer Look at Q3 Eramet has announced its Q3 2023 adjusted turnover of EUR 980 million, marking a 26% decrease compared to the same period in 2022. This decline is primarily attributed to a considerable drop in selling prices, which saw a 27% decrease year-on-year. However, it wasn’t all downward trends, as...
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Ongoing Developments Nornickel is set to proceed with augmenting production and port capacities at the Dudinka port in the Krasnoyarsk region, as disclosed by Nikolay Utkin, the Senior Vice President and Head of the Norilsk Division. This initiative is part of a broader strategy to enhance operational efficiencies and meet increasing demand. Dudinka, recognized as...
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Solid Performance Amid Economic Headwinds In the face of daunting global economic conditions, First Quantum Minerals Ltd. didn’t retreat but instead reported a net earnings bolster of $325 million in Q3 2023. This financial resilience, however, isn’t an all-clear signal. The company faced its share of challenges, including volatile copper prices and various operational hurdles....
READ MORENew Environmental Efforts Underway Nornickel has introduced a Sulfur Program at the Nadezhda Smelter in Norilsk, aiming to significantly cut sulfur dioxide emissions. The move marks a concerted effort to tackle environmental concerns in the area. The undertaking, which was years in the making, relied heavily on the Northern Sea Route for the transport of...
READ MOREFrance-based Constellium has reported a downturn in its financial performance for the third quarter of 2023, underscoring the challenges it faces in a tumultuous market. According to its latest earnings report, the aluminum products manufacturer saw a 15% decrease in revenue, with earnings down to 1.7 billion euros. This decline coincided with a 5% drop...
READ MORERobust Growth Across Key Metals Seligdar has reported a substantial rise in their metals division, with revenue soaring by 88% to reach approximately $392.7 million within the first nine months of 2023, up from the ruble equivalent of 37.5 billion. This impressive uptick is backed by a marked increase in the production of several core...
READ MOREIron’s Downtrend Doesn’t Deter Giants; Copper and Nickel Advance In Q3, global mining leaders witnessed a dip in iron ore output, but this didn’t sway their annual targets. The specifics, revealed on October 18, show BHP with a slight production decrease to 63.2 million tons, attributed to scheduled maintenance and infrastructure developments. Similarly, Vale’s output...
READ MOREAntofagasta revealed a substantial upsurge in its copper output for the third quarter of 2023, with a 16% increase to 173,600 tonnes, a considerable leap from the previous quarter’s 149,600 tonnes. This enhancement was predominantly due to escalated outputs at the Los Pelambres and Centinela mines. Notable Growth Across Various Metals During the same period,...
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See full Titanium Market Overview (USGS) Infographic here. The global titanium market has reached a turning point in its development: on the one hand, Russia, one of the main producers of titanium, is facing sanctions imposed by the European Union, the United States and their satellites; on the other hand, global demand for the metal...
READ MOREIn Q2 Fiscal 2024, Silvercorp recorded varied production figures across its operations. The company reported changes in ore extraction and metal production compared to the same period in the previous fiscal year. The key production figures are as follows: Ying Mining District: GC Mine: The company is slated to provide a detailed financial overview in...
READ MOREAnglo Asian Mining reports a significant decline in its metals production in the third quarter, following temporary halts at its key operational sites. Production Hit by Operational Halt In a stark contrast to its performance in the same period last year, Anglo Asian Mining disclosed a substantial dip in its gold, copper, and silver outputs...
READ MOREK92 Mining announces Q3 2023 production results at its Kainantu Gold Mine in Papua New Guinea, reporting a production of 26,225 oz AuEq or 22,227 oz gold, 1,784,009 lbs copper, and 40,233 oz silver. Sales for the quarter comprised 18,339 oz gold, 1,255,291 lbs copper, and 30,484 oz silver. The quarter’s production faced challenges due...
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Silver production rises while gold production sees a decline Hecla Mining Company released its preliminary results for silver and gold production in the third quarter and the initial nine months of 2023. Key Takeaways Phillips S. Baker, Jr., Hecla’s President and CEO, commented on the silver production, noting a considerable increase compared to last year’s...
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Aiming to Enhance Sustainability in the Aluminium Supply Chain United Arab Emirates: Emirates Global Aluminium and Emirates NBD have introduced an ESG-linked Supply Chain Finance (SCF) programme. The initiative is intended to boost sustainability within the aluminium supply chain in the UAE. The programme’s objective is to foster sustainability in the UAE aluminium sector. It...
READ MOREAura Minerals has released the preliminary production outcomes for Q3 2023 from its four operational mines: Aranzazu Mine, Ernesto/Pau-a-Pique Mine (EPP), San Andres Mine, and Almas Mine. Key Production Metrics Q3 2023 witnessed a total production of 64,875 gold equivalent ounces (GEO). All active mines reported an upswing in production compared to the previous quarter....
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