On 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...
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Norsk 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...
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Alcoa, 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)...
READ MOREGroupe Liébot, a leader in window and façade manufacturing in France, is pressing forward with its development strategy, focusing on social and environmental responsibility, and bolstering its international presence. Amid a market slowdown, the group announced plans for a new factory in Catalonia, Spain, representing an investment of 18 million euros. In a year marked...
READ MORERusal, the leading aluminium producer outside China, witnessed a significant 90% decrease in its adjusted profit for 2023, dropping to $73 million (USD) from the previous year’s earnings. Despite a 6.6% increase in sales, reaching 4.153 million tonnes of aluminium and alloys, the company faced several market and geopolitical challenges that impacted its financial performance....
READ MORETaseko Mines has reported a significant financial performance for the year 2023, with an Adjusted EBITDA of $190 million and mining operations earnings before depletion and amortization of $207 million. The company’s revenues reached $525 million, marking a 34% increase from the previous year, driven by enhanced copper production and an increased stake in the...
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Argonaut Gold announced its financial and operational results for the fourth quarter and the end of the 2023 fiscal year. In 2023, the company focused on key objectives, including the on-schedule commissioning of the Magino mine, improving the performance of the Florida Canyon mine, and enhancing operations at its Mexican mines. The company reported exceeding...
READ MORENorsk Hydro, the Norway-based leader in aluminum and renewable energy, announced on Wednesday the appointment of Trond Olaf Christophersen as the acting Chief Financial Officer (CFO), effective from March 6. This development follows the earlier announcement regarding the departure of CFO Pål Kildemo, who will be leaving Norsk Hydro by August 31 at the latest...
READ MOREAluminium Dunkerque (AD) and its parent company, Aluminium Dunkerque Industries France (ADIF), have successfully acquired new bank facilities amounting to $375 million, aiming to fully refinance their existing debts. This financial restructuring was announced on March 5, 2024, from their base in Loon-Plage, France. Highlighting its commitment to sustainable development, Aluminium Dunkerque has integrated environmental...
READ MORESibanye Stillwater Limited has released its operating and financial outcomes for the six months ending 31 December 2023, along with its reviewed condensed consolidated financial statements for the year. The Johannesburg-based mining group experienced a challenging year, marked by a regrettable increase in fatalities primarily due to an incident involving a contractor at the Burnstone...
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Aneka Tambang (ANTAM), a prominent player in Indonesia’s mining sector and a member of PT Mineral Industri Indonesia (Persero) (MIND ID) – the State-Owned Enterprise Holding of Mining Industry, has outlined an ambitious plan to elevate production and sales across its main commodities in 2024. With a strategic approach towards efficient cost management, ANTAM is...
READ MOREIndonesia’s Energy and Mineral Resources Ministry is on track to finalize mining quota approvals for mineral companies by the end of March, according to a senior official. Out of 723 firms that have submitted their quota requests, known locally as RKAB, approvals have been granted to about 120 companies to date. The delay in the...
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