The Azovsky Technopark, located in the Rostov Region, Russia, has recently been included in the Ministry of Industry and Trade of Russia’s register, marking it as the first industrial technopark in the region to meet the required standards. This announcement was made by Igor Sorokin, the Deputy Governor. The project, led by the Technopark Azovsky...
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Sohar Freezone is set to welcome a pioneering project with the signing of a land lease agreement for the construction of a prebaked carbon anodes manufacturing plant. This venture, a collaboration between Omani and Indian investors under the name Sanvira Tech SFZ, represents a significant $225 million investment. The facility, occupying a 155,000 square meter...
READ MOREA collaborative effort between Russian and Belarusian scientists has led to the development of substances capable of inhibiting the growth of cancer cells, offering new hope to patients battling a dangerous form of breast cancer. During their research, the team synthesized new drugs based on platinum and palladium. They crafted structures designed to interact with...
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Philex Mining Corp., led by the Pangilinan group, reported a significant decrease in its core net income for the year 2023, amounting to P963 million. This figure represents a 44.43 percent decline from the P1.733 billion net income recorded in 2022, according to the company’s recent disclosure to the Philippine Stock Exchange. The mining firm...
READ MOREAltiplano Metals has announced its operational results for the fourth quarter of 2023 at the Farellon Copper-Gold (Cu-Au) project, showcasing a remarkable increase in production and processing alongside improved copper grades. During Q4 2023, the company extracted a total of 9,114 tonnes of mineralized material and processed 8,125 tonnes, marking a 12% and 13.6% increase,...
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Myanmar has emerged as one of the world’s top ten producers of rare earth elements, crucial for the global shift towards renewable energy. However, this expansion comes at a significant cost, including environmental degradation and potential contributions to the country’s internal conflicts. Amid intensified armed conflict between Burmese insurgents and the military junta, the rare...
READ MOREIn a strategic move to bolster its financial and operational performance, Vedanta Group, a leading global mining conglomerate, has announced its target to achieve a pre-tax profit (EBITDA) of USD 6 billion in the fiscal year 2025, aiming to further increase this figure to USD 7-7.5 billion in the subsequent year. This ambitious goal is...
READ MORERussia is poised for a significant technological breakthrough within the next three years with the launch of the world’s first nuclear reactor utilizing liquid aluminum as a coolant. Announced by Rosatom’s CEO, Alexey Likhachev, during a “government hour” session in the State Duma, this innovative project promises to make natural resources for nuclear energy virtually...
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BHP is currently navigating through the early stages of an internal restructure, a move that has sparked concerns over potential job losses within its Western Australian operations. The company has introduced significant changes aimed at streamlining its global operating model, yet the full impact on employment remains unclear. This week, BHP unveiled plans to reorganize...
READ MOREKupper, a Skolkovo resident company within the VEB.RF group, has made a significant leap in the mining and processing equipment sector by developing and commencing the production of an innovative gear oil. This new product, designed to replace imported gear oil, promises to double the service life of rock crushing equipment, marking a pivotal advancement...
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In a significant legal victory, Sandfire Resources America witnessed a surge in its stock following the Montana Supreme Court’s decision to reinstate the permit for its flagship Black Butte copper project. This ruling reverses a prior district court decision, reigniting the project that had been under scrutiny due to environmental concerns. The Black Butte copper...
READ MORERussian researchers have pinpointed alloys with optimal properties for use in next-generation aircraft engines, capable of enduring high temperatures up to 1000 degrees Celsius. The study, funded by the Russian Science Foundation (RNF) and conducted by Belgorod State National Research University, focused on twelve alloys composed of niobium, chromium, titanium, and zirconium. The findings revealed...
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Newmont finalized the acquisition of Newcrest Mining Limited on November 6, 2023, marking a significant expansion of its operations. This merger has positioned Newmont as a prominent figure in the gold industry, with enhanced capabilities in copper. In 2023, Newmont paid out $1.4 billion in dividends to its shareholders. The company reported a production of...
READ MOREE3 Lithium announced its strategic goals for 2024, a year poised for significant growth and development. Following a year of marked progress, the company is setting its sights on advancing its flagship Clearwater Project towards commercial operation, with ambitions to begin revenue generation. 2023 was a landmark year for E3 Lithium, showcasing the commercial viability...
READ MOREGecamines, the Congolese state mining company, is planning an overhaul of its joint venture agreements to assert more influence over the management of its mining assets. Guy Robert Lukama, Gecamines chairman, announced the company’s intention to appoint more local executives to boards governing joint ventures, aiming for a more substantial say in the operations. This...
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Novelis, a global leader in sustainable aluminum solutions and the premier name in aluminum rolling and recycling, has made a strategic move towards an initial public offering (IPO) of its common shares. The company disclosed that it has confidentially submitted a draft registration statement on Form F-1 to the Securities and Exchange Commission (SEC). This...
READ MOREChilean mining giant Antofagasta has reported a 5% increase in its profit for 2023, buoyed by a rise in copper production and prices, which helped counterbalance soaring operational costs. The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) climbed to $3.1 billion from $2.9 billion the previous year. Despite this growth, Antofagasta has significantly...
READ MOREIn 2023, Umicore maintained robust cash flows and profit margins despite facing a challenging year, underscoring its commitment to future growth through significant investment increases. The company’s Catalysis segment delivered a record performance for the third consecutive year, with adjusted EBITDA reaching €436 million, a 4% increase from the previous year, primarily driven by the...
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Norsk Hydro announced on February 15, 2024, the successful signing of a new USD 1,000 million revolving multi-currency credit facility, marking a significant financial maneuver for the corporation. This new facility, designed to support general corporate purposes, showcases a strategic approach to financial management with a two-year tenure and an additional one-year extension option. This...
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AMAG Austria Metall’s revenue reached €1,459.2 million, a decrease from the previous year’s record of €1,726.7 million, reflecting the impact of lower aluminium prices and demand fluctuations. Despite these challenges, AMAG reported an EBITDA of €188.4 million, the second-highest in its history, demonstrating the company’s robust operational capabilities and strategic adaptability. Throughout the year, AMAG’s...
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Sumitomo Metal Mining, a major player in the mining and metals industry, has revised its financial outlook for the fiscal year ending March 31, 2024, expecting a decrease in consolidated pre-tax income. The Tokyo-based company now forecasts its income before income taxes to be 77 billion yen (USD 516 million), a reduction of 9 billion...
READ MOREImpala Platinum Holdings (Implats) reported a notable decline in its earnings for the six-month period ending December 31, primarily due to a significant reduction in revenue, influenced by a 37% decrease in the dollar revenue per 6E ounce sold. This decline was somewhat mitigated by an 8% depreciation in the rand, according to the company’s...
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Anglo American Platinum, the leading platinum miner globally, experienced a significant earnings decrease in 2023, largely due to the substantial drop in palladium and rhodium prices coupled with increased mining and processing expenses. The company, a key subsidiary of Anglo American, reported that the falling prices of platinum group metals (PGMs), particularly palladium and rhodium,...
READ MOREThe Lobito Atlantic Railway Corridor, a strategic rail line connecting crucial African mines to the Atlantic port of Lobito in Angola, is set for a significant boost with a $250 million investment from the Biden administration aimed at its revitalization. This century-old railway is also part of a broader initiative, including a study to extend...
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