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....
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New 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...
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France-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...
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In 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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Gatos Silver released its production data for the quarter and nine months concluding on September 30, 2023, from its Cerro Los Gatos mine in Mexico. Production Details and Comparisons The mine’s mill had an average throughput rate of 2,916 tonnes per day during Q3 2023, marking a 2% increase from the same period in 2022....
READ MOREOperational Overview for 2023 Jubilee Metals Group, with operations in Africa, presents its audited results for the year ended 30 June 2023. The company also released its Integrated Annual Report today. Despite challenging market conditions due to a depreciating PGM basket price and infrastructural challenges in its operating locations, Jubilee showcased a solid operational performance....
READ MOREDundee Precious Metals Inc. (TSX: DPM) shared its preliminary production outcomes for the period ending September 30, 2023. Key highlights include Ada Tepe mine’s record-breaking achievement, having produced a substantial 33.8 K oz. of gold. This significant output aligns well with the company’s optimistic projections for the mine. Meanwhile, the Chelopech mine maintained its steady...
READ MOREIn a recent announcement, Russia’s Rusal, the leading aluminium producer globally outside China, confirmed that they’ve allocated their entire sales volumes for 2023. The company’s production and sales dynamics are under heightened scrutiny during the annual LME week in London. LME Week Highlights LME Week, a prominent annual gathering, coincides with the season when major...
READ MOREMining Cost Blowouts Intensify Inflationary Concerns Liontown Resources, an Adelaide-based mining company, projected the Kathleen Valley lithium mine to cost $300 million two years ago. Today, this estimate has doubled. With contractors raising their charges by 30% and a persistent labor shortage in Australia’s mining sector since the Covid-19 outbreak, wages have surged. Tony Ottaviano,...
READ MOREInternational Relations Amid Domestic Unrest Guinea, under the rule of Colonel Mamadi Doumbouya and his junta, is in the midst of intense international and domestic scrutiny. The junta, which seized power in 2021, has strategically maintained relations with global powers while simultaneously dealing with internal opposition with an iron hand. Chinese Investment and Economic Interests...
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See full Global Zinc Market Infographic here Zinc prices have been on a downward trend since January, following the sharp rises seen in 2022. This trend is not encouraging for zinc producers in Europe, who are already struggling with high electricity costs. In other regions of the world, the situation is different, but also ambiguous....
READ MOREBrazilian mining giant Vale has revealed its plans to commence the construction of “mega hubs” in Middle Eastern nations next year, aiming to produce low-carbon iron ore products tailored for the steel industry. The first of these hubs is anticipated to become operational by 2027. Last year, Vale had initially unveiled its intentions to establish...
READ MOREChilean state-run mining company Codelco has disclosed its intention to invest $4.1 billion during the current year, according to a statement released on Tuesday. This significant investment is part of the company’s strategy to advance various new projects. To facilitate the financing of this year’s capital expenditures, Codelco initiated a bond offering in New York...
READ MOREGekko Systems has reached a significant milestone as it oversees the initiation of commercial tungsten production at the Dolphin Tungsten Mine on King Island. Group 6 Metals (G6M) engaged Gekko Systems to design, procure, and construct a mineral processing plant dedicated to tungsten recovery at the Dolphin Mine located on King Island. Gekko’s engineering team...
READ MOREThe Sunshine Coast is on the brink of introducing a state-of-the-art Material Recycling Facility (MRF) at a cost of A$40.5 million. Set to commence operations by the year-end, this facility is capable of processing over 60 thousand metric tons of recyclables annually, encompassing aluminum cans, glass bottles, plastic containers, cardboard, paper, and steel. The MRF’s...
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