Polymetal International has announced its production results for the first quarter of 2024, which concluded on March 31st. The company has managed to align its production with the set guidance and anticipates an increase in sales in the upcoming quarters, according to Group CEO Vitaly Nesis. Highlights from Q1 2024 include: The safety record remained...
READ MORENovelis, a global leader in aluminum rolling and recycling, announced its financial results for the fourth quarter and the entire fiscal year 2024. Despite challenging market conditions, the company saw a significant increase in key financial metrics, driven by strategic investments and a focus on sustainable practices. Fourth Quarter Fiscal Year 2024 Highlights: Full Fiscal...
READ MOREStrategic Maneuvers in the Global Nickel Market: US and Philippines Eye Reduction in Chinese Dominance Countering China’s Nickel Dominance The US and the Philippines are reportedly in talks to strategize against China’s leading position in the nickel market of Southeast Asia, aiming to lessen the reliance of electric car battery manufacturers on Chinese supply. A...
READ MOREJapanese trading house Sumitomo Corp has reported a net profit of 386.4 billion yen (approximately $2.5 billion) for the fiscal year ending March, marking a 31.7% decline from the previous year and falling short of analysts’ estimates of 504.9 billion yen. This shortfall was largely due to one-time losses totaling 150 billion yen, including a...
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Capstone Copper has announced its financial results for the first quarter of 2024. The company reported copper production totaling 42,121 tonnes, with C1 cash costs of $2.88 per payable pound of copper produced. The company’s CEO, John MacKenzie, highlighted the strong start to the year, with the company’s Mantoverde mine poised for full production. Key...
READ MORENornickel, the world’s largest supplier of refined nickel and palladium, confirmed operational plans for this year in a report highlighting mixed first quarter results. The group’s production of nickel, used in stainless steel and high capacity batteries, was down by 10% to 42,101 thousand tonnes, while production of copper, a key metal for power utilities,...
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Anglo American Platinum (Amplats), a leading producer of platinum group metals (PGM), has announced a 7% decline in its PGM production for the quarter ended March, with total output dropping to 834,100 ounces. The company attributed the decrease primarily to reduced outputs at its Amandelbult and Mototolo mines, although production levels at Mogalakwena and Unki...
READ MOREEramet, a global mining group, reported an adjusted turnover of EUR 761 million for the first quarter of 2024, marking a 19% decrease compared to the same period last year. This decline was primarily due to a significant 24% drop in prices, although this was partially offset by a 2% increase in volumes. Operational highlights...
READ MORETeck Resources has reported a significant drop in its first-quarter profit from continuing operations, which fell to C$343 million (approximately USD $250.39 million), or C$0.65 (approximately USD $0.47) per share, compared to C$1.17 billion (approximately USD $854.1 million), or C$2.23 (approximately USD $1.63) per share, in the same period last year. The adjusted profit from...
READ MOREOn April 23, 2024, Anglo American Platinum provided a quarterly update for the period ending March 31, 2024, showing a 7% decrease in total Platinum Group Metals (PGMs) production compared to the first quarter of 2023. The production amounted to 834,100 ounces, attributed to various operational challenges. The report highlighted a reduction in output from...
READ MORENorsk Hydro, a global aluminum company, is poised to report an adjusted operating profit of NOK 3,313 million (approximately USD 301 million) for the first quarter of 2024, according to consensus estimates from various brokerage houses compiled by Infront. The company’s revenue for the same period is expected to reach NOK 46,200 million (approximately USD...
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Alcoa reported a first quarter adjusted loss per share of $0.81, which did not meet analyst expectations of a $0.64 loss per share. However, the company surpassed revenue forecasts with first quarter sales reaching $2.60 billion, compared to the anticipated $2.55 billion. The company’s adjusted EBITDA for the quarter stood at $132 million, again beating...
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In the first quarter of 2024, VSMPO-AVISMA reported a revenue increase of 13.4% year-on-year, reaching 24.045 billion rubles (approximately 264.495 million USD). The company’s financial performance data revealed in its RAS report did not include net profit figures for the period. The corporation’s total financial results for the first quarter saw a 34% decrease to...
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Anglo Asian Mining reported a significant reduction in its production for the first quarter of the year as it awaits government approval in Azerbaijan to raise the wall of its tailings dam. The copper, gold, and silver producer saw its production drop to 2,548 gold equivalent ounces from 10,969 ounces in the same period last...
READ MOREAlcoa, a leading multinational in the aluminum industry, is projected to bounce back to profitability in 2024 following a significant loss in 2023. According to the consensus among 13 investment analysts, the Pittsburgh-based company is expected to end the year with a net profit of $54.2 million (approximately 51 million euros), marking a notable recovery...
READ MORERio Tinto reported its first quarter aluminum production for 2024, revealing mixed outcomes. The company produced 826,000 tonnes of aluminum, marking a 5% increase from the previous quarter but a 2% decrease compared to the same quarter last year. Despite these fluctuations, Rio Tinto has affirmed its aluminum production forecast for 2024, aiming to produce...
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In 2023, Doña Inés de Collahuasi, a leading global copper producer owned by Anglo American, Glencore, and Japan Collahuasi Resources, reported impressive performance metrics, underscoring a robust year for the company. The firm produced 573,183 tons of fine copper, a figure that highlights its operational efficiency, especially in the concentrator plant where utilization rates reached...
READ MOREK92 Mining has announced production results for the first quarter of 2024 at its Kainantu Gold Mine in Papua New Guinea, with production of 27,462 ounces of gold equivalent, surpassing budget expectations. This includes 24,389 ounces of gold, 1,443,300 pounds of copper, and 35,650 ounces of silver. Sales figures for the quarter were similarly strong,...
READ MOREAmerigo Resources has reported exceeding its production targets for the first quarter ended March 31, 2024, from its wholly owned Minera Valle Central operation in Rancagua, Chile. In this quarter, the company produced 16 million pounds of copper and 324,000 pounds of molybdenum, both surpassing their respective guidance figures. Furthermore, Amerigo achieved a normalized cash...
READ MOREChaarat Gold Holdings, focused on mining exploration and development in the Kyrgyz Republic, released its full-year results for the period ending December 31, 2023. The year ended with a Group loss after tax of $25.3 million, a decrease from 2022’s $8.6 million loss, primarily attributed to an increase in finance costs and losses from discontinued...
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February 2024 saw a significant leap in mineral production. The index of mineral production for February 2024 reached 139.6, marking an 8.0% increase compared to the same month in the previous year. This uptick is part of a broader trend, with the cumulative growth of the index over the April-February period of FY24 up by...
READ MOREHindustan Zinc, a subsidiary of the Vedanta Group and a global leader in the Zinc-Lead and Silver market, announced its production figures for the fourth quarter and the fiscal year ending March 31, 2024. Despite a slight year-on-year decrease of 1% in mined metal production for the quarter, the company achieved record highs in refined...
READ MOREAccording to insights from Goldman Sachs, reported by FX168 Finance Group Holding Limited, commodity prices are on the brink of a significant upturn this year, bolstered by expected interest rate reductions by central banks in the U.S. and Europe. These adjustments are anticipated to rejuvenate industrial and consumer demand, with commodities like copper, aluminum, gold,...
READ MOREBoliden, the mining company, has released a statement indicating a significant financial impact if the ongoing strike in Finland extends through March 31. The anticipated negative effect on the company’s operating profit for the first quarter is estimated at SEK 500 million (USD 47.5 million). This estimated impact comprises SEK 200 million (USD 19 million)...
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