The Russian company Rusal plans to build a plant for the production of car wheels in Uzbekistan, Vladislav Vasilyev, director of the department of metallurgy and materials of the Ministry of Industry and Trade of the Russian Federation, said at a panel session of the Innoprom. Central Asia in Tashkent. According to Vasiliev, Rusal Group...
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The global palladium market is at a turning point: it’s becoming cheaper, but there are also conditions that point to a possible increase in its price. The structure of palladium consumption is changing, preparing the market for a significant transformation. Unnecessary negativity The price of palladium is dropping, which is making investors nervous. In January...
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A new package of sanctions adopted by the Japanese government against Russia is due to come into force on 7 April. The measures it envisages include, among other things, a ban on aluminium shipments. To all appearances, the Japanese government expects it to deal a devastating blow to consumption of the winged metal in Russia....
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Russian aluminium tycoon Oleg Deripaska was cleared of contempt of court by London’s High Court on Wednesday in a long-running legal battle with his former business partner. The founder of aluminium giant Rusal (RUAL.MM) was alleged to have breached an undertaking to the court in a lawsuit brought by former Russian finance minister Vladimir Chernukhin...
READ MOREMMK Metalurji, part of MMK Group, has resumed operation of its hot rolling production complex. The plant was forced to suspend operations for several months due to the earthquakes in southeast Turkey and unfavourable economic conditions. The plant’s specialists launched an electric steelmaking shop with a casting and rolling module at the Dörtyol production site...
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Lithium de France has successfully completed its latest funding round, raising EUR 44 million after equity was allotted to institutional buyers including Arverne Group, Equinor Ventures and Hydro. It is worth nothing that Arverne Group, the main investor in Lithium de France, implements geothermal projects in France, Equinor Ventures is a subsidiary of Norwegian oil...
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US-based Steel Dynamics has begun construction on a flat-rolled aluminium plant in Mississippi. The project cost is estimated at USD 2.2 billion, with operations expected to get underway in Q1 2025. The site will have an output of 650,000 tons of low-carbon aluminium sheets per year. The move has been received as an extraordinary event...
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Forecasts for 2023 – full infographics available here. Aluminium: For the aluminium sector, 2022 was a year defined by pessimism. The price of natural gas, coal and electricity in Europe, North America and Asia was relatively high and refused to come down. The European Union in particular suffered as a result, so it was no...
READ MORERussia’s top gold and silver miner Polymetal is in negotiations with British authorities to keep its London listing in the form of global depositary receipts (GDR) after it moves to Kazakhstan, Reuters has reported. The transition to Kazakhstan would allow the company to spin off its Kazakh business, which accounts for about 38% of revenue...
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China produced 372 tonnes of gold in 2022, an increase of 43 tonnes or 13.1% compared to the previous year, according to data from the China Gold Association (CGA). Gold consumption in China totalled 1,002 tonnes last year, a decrease of 10.6% from the previous year. Consumption of gold jewellery dropped 8% year on year...
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The platinum market saw a deficit in 2022, with global demand remaining flat at 7.4 million ounces and global supply forecast to decline by 11% to 7.3 million ounces, according to Wilma Swarts, Director of PGMs at Metals Focus. The main factors driving this market imbalance were weaker supply rather than stronger demand, with production...
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Chilean state-owned copper mining giant Codelco has invited energy companies to participate in tenders to supply around 2,500 gigawatt-hours (GWh) of renewable power capacity annually from 2026 to 2040 for its operations in central and northern Chile. Bidders are expected to offer electricity from non-conventional sources, such as solar and wind power plants, but also...
READ MOREThe Aluminium Association of India (AAI) has called for government intervention in the form of supportive measures to address challenges faced by the aluminium industry, including rising foreign imports, a declining market share and escalating costs. The AAI has specifically requested the removal or rationalization of taxes on key inputs for the sector, such as...
READ MORERussia is second only to China in terms of volumes of rare earth metal reserves, but accounts for just 2% of the global market. Supposedly, development of known reserves is hampered by a lack of local demand, but over 90% of required REMs are imported. In the context of ever toughening sanctions, shifting to a...
READ MORESwitzerland-based mining company Glencore has said it will pay USD 180 million to the Democratic Republic of Congo to settle corruption claims. The Congo payout is the latest in a series of corruption cases which has seen Glencore agree to pay out more than USD 1.6 billion in fines this year. Despite the fines, Glencore...
READ MOREAnalytics recap. Nickel. Early December. Based on analysis by the Financial Times. The London Metal Exchange (LME) clearing house, a crucial organization created to stop problems in one market from spreading to the wider financial system, was in danger of failing in March, according to judicial files disclosed this week. According to the documents, the...
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Codelco, the world’s largest copper producer, warned on Thursday that global shortages of the metal may reach eight million tonnes by 2032, as new projects can’t catch up with soaring demand. What Maximo Pacheco, Chairman of the Board of Codelco, said at an industry conference that while a surplus is expected in the short term...
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Global demand for silver is expected to rise 16% this year to 1.21 billion ounces, creating the biggest deficit in decades. Who The US-based Silver Institute states that the use of silver by industry for jewelry and silverware, and for bars and coins for retail investors are all forecast to reach record levels. As demand...
READ MOREAnalytics recap. Nickel. Mid-November. Based on analysis by the Financial Times. Nickel prices have reached a six-month high, in a continuation of the market deterioration that has been observed since March. On Monday, the three-month nickel contract briefly hit a daily trading limit of 15%, reaching nearly USD 31,000 per tonne. This was followed by...
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Achieving current climate targets to potentially save the world from catastrophe will require hundreds of billions in copper investments. Who Analysts from Wood Mackenzie claim that 9.7 million tonnes of copper are needed over the next 10 years to cover the projects necessary to hit goals outlined in the Paris Agreement targets, an increase of...
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A USD 873 billion mine extracting Ni, Cu, Pt, Pd and Au metals from the magmatic sulphide deposit that forms the core of Norilsk Nickel’s eponymous operations was listed as the most valuable mine in the world by MINING.COM. If the calculations were based on prices back in March, the value of the mine would...
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