China’s aluminium consumption growth is expected to slow to slightly below 5% this year, compared to a 6% gain in 2023, as demand cooled during the third quarter amid economic challenges, despite robust growth from the energy and transportation sectors, local analysts reported to MNI. Gu Fengda, chief nonferrous metals analyst at Guoxin Futures, noted...
READ MOREOn Thursday (October 10), despite U.S. Consumer Price Index (CPI) data coming in slightly higher than expected, poor performance in initial jobless claims led to a sharp decline in the dollar index, which drove gold prices higher. Spot gold experienced significant fluctuations, ultimately closing up $22.13, or 0.85%, at $2,629.84 per ounce. Ongoing tensions in...
READ MORESpot gold fell nearly \$15 on Wednesday, as the release of the Federal Reserve’s latest meeting minutes prompted market expectations for steady interest rates in November, strengthening the U.S. dollar and putting pressure on gold prices. Gold closed down \$14.13, or 0.54%, at \$2,607.71 per ounce, with intraday lows reaching \$2,605.16 per ounce. According to...
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Impala Platinum Holdings, the world’s second-largest platinum miner, has reported a significant swing to a loss for fiscal 2024, as anticipated, due to a series of impairments. The company announced a basic loss of 17.31 billion South African rand (approximately $970.9 million USD) for the year ended June 30, compared to a profit of 4.905...
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VSMPO-AVISMA, a leading titanium producer, has reported a 0.4% increase in net profit for the first half of 2024, reaching 12.39 billion rubles ($133 million). This modest growth comes despite significant increases in revenue across its operations, as detailed in the company’s financial statements. The company’s total revenue grew by 9.6%, reaching 59.61 billion rubles...
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Sigma Lithium Corporation (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global producer of sustainable lithium, announced robust financial results for the second quarter ended June 30, 2024. The company highlighted continued operational excellence, including strong sales volume, premium pricing of its environmentally sustainable ‘5.0 Green Lithium’, and expansion into new markets such as Japan...
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Antofagasta has reported a resilient financial performance for the first half of 2024, driven by strong EBITDA margins, cash flow generation, and continued investment in key growth projects. CEO Iván Arriagada highlighted the company’s achievements in maintaining robust financial metrics despite challenging conditions, with EBITDA increasing by 5% to $1,394.4 million and revenue rising by...
READ MOREAlcoa, the American multinational, has reiterated its position that the aluminum and alumina production complex at San Cibrao in Spain remains unfeasible under current and projected energy market conditions. Despite its efforts to find a buyer for the facility, the company has been clear in its communications that the complex is not profitable, and is...
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Wheaton Precious Metals reported significant growth in production and financial performance for the fourth quarter of 2023, driven by increased gold production and higher commodity prices, despite some operational setbacks. The company achieved a 22% increase in gold equivalent ounces (GEOs) produced, totaling 174,200 GEOs, compared to the same period in the previous year. The...
READ MOREFortuna Mining Corp. has released its financial and operating results for the second quarter of 2024, showcasing substantial growth in net income and operational performance. The company reported an attributable net income of $40.6 million, or $0.13 per share, marking an increase from $26.3 million, or $0.09 per share, in the first quarter of 2024....
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Impala Platinum has reported significant production and operational achievements for the fiscal year 2024, despite facing a challenging operating environment. The company successfully navigated various obstacles to deliver guided production volumes and maintain cost controls. The group’s total 6E production increased by 13% to 3.65 million ounces compared to 3.25 million ounces in FY2023. Excluding...
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Capstone Copper has announced its financial results for the second quarter of 2024, highlighting robust copper production and significant financial gains. For the quarter ending June 30, 2024, Capstone produced 40,937 tonnes of copper at C1 cash costs of $2.84 per payable pound of copper. CEO John MacKenzie praised the company’s performance, noting the successful...
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Taseko Mines reported its financial and operational performance for the second quarter of 2024 and provided updates on the Florence Copper project construction. This report should be considered alongside the company’s financial statements and Management Discussion & Analysis, accessible on the company’s website and SedarPlus. In March 2024, Taseko Mines acquired the remaining 12.5% stake...
READ MOREAneka Tambang, part of Indonesia’s MIND ID, has reported solid financial performance for the first half of 2024. Despite facing global economic volatility and commodity price fluctuations, the company maintained robust production and sales levels. For the period from January to June 2024, ANTAM achieved a net profit of Rp1.51 trillion (approximately $18.12 million). This...
READ MOREVale, a leading mining company, recorded a profit of R$14.6 billion (US$803 million) in the second quarter of 2024, marking a 219% increase from the same period in 2023. The company’s net revenue reached R$51.7 billion (US$2.84 billion), reflecting an 8.3% rise compared to the previous year. Compared to the first quarter, profit grew by...
READ MOREUmicore Group has reported half-year revenues amounting to €1.8 billion. The company’s adjusted EBITDA reached €393 million, reflecting an adjusted EBITDA margin of 21.8%. Adjusted EBIT was €241 million, while adjusted net income (Group share) stood at €118 million, translating to adjusted earnings per share of €0.49. The return on capital employed (ROCE) was 11.3%....
READ MOREAMAG Austria Metall AG reported a robust half-year performance amidst a weak market environment, particularly in Europe. The company benefited from a higher aluminum price in Q2 2024 and its broad market positioning, which helped offset the subdued demand for aluminum rolled products in specific industries. The group’s revenue for the first half of 2024...
READ MOREBritish mining company Anglo American announced a significant shift in its financial performance for the first half of the year, reporting a loss attributable to equity shareholders of $672 million. This marks a stark contrast to the profit of $1.26 billion reported in the same period last year. The basic loss per share for the...
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Andrada Mining, an African technology metals mining company with assets in Namibia, has released its unaudited operational update for the quarter ended 31 May 2024 (Q1 FY2025). Operational Highlights: Financial Highlights: Despite facing new royalty charges from Orion and rising mining costs, management has maintained its cost guidance. The mine and plant performance are expected...
READ MORENorwegian aluminium producer Norsk Hydro reported an 18% decline in second-quarter core profit to 5.84 billion Norwegian crowns ($533.09 million), impacted by lower volumes and margins despite higher alumina prices. The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter ended June 30 fell short of the average analyst forecast of 6.15...
READ MOREKGHM Group has announced its preliminary production and sales results for June, showing a significant increase in silver production and sales, but a decline in copper and other metals. Production of payable silver reached 125.4 tonnes, marking a 56% increase of 44.9 tonnes compared to the same period last year. Silver sales also saw a...
READ MOREVSMPO-AVISMA Corporation announced an 11.1% increase in revenue for the first half of 2024, totaling 51.219 billion rubles ($563.409 million) compared to the same period last year. However, the cost of sales surged by 31.7%, reaching 34.808 billion rubles ($383.348 million). The company’s total financial result for the period significantly declined, amounting to 8.144 billion...
READ MOREAnglo American Platinum Limited has released its Platinum Group Metals (PGMs) production report for the second quarter ending June 30, 2024. The report highlights mixed performance metrics and underscores ongoing safety concerns. During Q2 2024, Anglo American Platinum experienced two work-related fatalities at the Dishaba Mine, part of the Amandelbult complex. This incident contributed to...
READ MOREIndia’s National Aluminium Company (NALCO) reported a fourth-quarter profit that surpassed analysts’ estimates, driven by reduced costs of key raw materials, including thermal coal and bauxite. The state-owned firm announced a consolidated profit before exceptional items and tax of 9.43 billion rupees (approximately $114 million) for the three months ending March 31. This figure is...
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