The 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...
READ MOREFreeport-McMoRan has announced a significant leadership transition with Kathleen Quirk being appointed as the new President and Chief Executive Officer, effective from the annual meeting of shareholders scheduled for June 11, 2024. In her new role, Quirk will take over the executive management responsibilities of the company, directly reporting to the FCX Board of Directors....
READ MOREVale has announced that discussions within its board regarding the extension of the current CEO’s tenure or the appointment of a new leader are ongoing, adhering to the company’s bylaws. The process, as outlined in a response to an inquiry from the Brazilian Securities and Exchange Commission (CVM) concerning the potential delay in deciding on...
READ MORENorilsk Nickel Sustains Production Amidst Challenges Norilsk Nickel, a leading metal producer, disclosed its annual production figures for 2023, demonstrating resilience amidst challenges. Nickel production saw a modest decline of 5% to 209 thousand tonnes, attributed to reduced raw material extraction and the integration of new mining equipment from suppliers. However, nickel output from its...
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Bluebell Capital, an activist investor, has issued a call for Glencore to replace its Chief Executive Officer, Gary Nagle, citing inadequate leadership and failure to reform the mining giant’s culture. The criticism comes three years after Nagle succeeded Ivan Glasenberg, under whom he had long served. In a pointed letter, Bluebell criticized Nagle for not...
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In an interview with Dennik N, Milan Veselý, CEO of Slovalco, Slovakia’s sole aluminum plant, hinted at the possibility of restarting the facility’s primary production, which has been halted for a year due to high electricity costs. Despite a recent dip in electricity prices and the potential impact of EU sanctions on Russian aluminum imports,...
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Bawtry Carbon, a longstanding manufacturing firm based in Austerfield, Doncaster, has gone into administration, resulting in the majority of its 103 employees being made redundant. This marks the second time in five years that the company, which began operations in 1972, has faced such financial difficulties. The company, known for manufacturing and supplying carbon cathode...
READ MOREAnticipated Copper Shortages and Price Increases Goldman Sachs forecasts a copper market shift towards a deficit of 428 thousand tonnes by the end of 2024, following a temporary surplus in the first quarter. This prediction stems from a confluence of factors, including reduced production at major mines and a slowdown in pure metal production growth....
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PJSC Rusolovo is undertaking a substantial project to establish a full-cycle tin production cluster in Russia’s Far East, centered around the Amur Metallurgical Plant in the Khabarovsk Territory. Magomed Gekhaev, the company’s Deputy General Director, announced at the Russia Forum that this initiative would require an investment of approximately 29 billion rubles (about 323.35 million...
READ MOREA year after the nickel pricing debacle, the London Metal Exchange (LME) is exploring Hong Kong as a potential site for expanding its warehouse network. This move, as revealed in a presentation to the LME’s warehousing committee last December, comes amidst ongoing challenges and evolving dynamics in the global metals market. Around ten domestic and...
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4Q Copper Production: MMG, a leading global resources company, has reported an 11% year-on-year increase in copper production for the fourth quarter, reaching 81,206 tons. 4Q Copper Cathode Production: Copper cathode production, however, experienced an 18% year-on-year decline in the fourth quarter, totaling 10,206 tons. 4Q Zinc Production: The company saw a 6% year-on-year rise...
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GLM, a leading urban mining firm based in Shenzhen, China, has entered into a groundbreaking Memorandum of Understanding (MoU) with the Singapore Branch of Anglo American plc, a globally renowned resource company headquartered in the UK. Signed on January 24, 2024, this MoU aims to catalyze cooperation in the research and development of nickel products...
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Freeport-McMoRan has announced its financial and operational results for the fourth quarter and the entire year of 2023, showcasing a solid operational performance and a promising outlook. The company’s fourth-quarter performance was notably strong, with copper sales volumes surpassing both the October 2023 estimates and the figures from the fourth quarter of the previous year....
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In the latest update from the mining sector, Fresnillo, a player in the precious metals market, has reported varied results in its fourth-quarter production. The company noted a substantial increase in silver output, while gold production witnessed a decline. Silver Production on the Rise Fresnillo’s fourth quarter saw a 13.1% rise in attributable silver production,...
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Pilbara Minerals, a key player in the lithium market, has experienced a significant price drop in its spodumene product from the Pilgangoora project. Despite this challenge, the company maintains a positive outlook for the future of the commodity. In the December quarter, Pilbara witnessed a 50% decrease in the average realised price of spodumene, plummeting...
READ MOREThe mining industry in Chile, a key player in global copper production, is poised to see a significant decline in sulfuric acid consumption, a crucial component in copper extraction and processing. According to a recent report by Cochilco, sulfuric acid consumption is expected to drop by 34.2% by 2032, a trend closely related to the...
READ MOREAccording to the latest CyclOpe index, global prices for industrial commodities are expected to continue their downward trend in 2024, with notable exceptions like uranium, copper, and aluminum. In 2023, the index, which aggregates price changes for the world’s main listed commodities, recorded a 14 percentage point decrease from the previous year. Key Trends in...
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Americas Gold and Silver Corporation has announced its production results for the fourth quarter and full year of 2023, along with an update on the exploration results at the Galena Complex. In Q4-2023, the company achieved its strongest production quarter of the year, with consolidated attributable silver production significantly increasing compared to the same period...
READ MOREAurubis, one of the leading copper groups, is facing a significant change in its leadership following a series of unfortunate events, including a theft and fraud case leading to nearly 170 million euros in losses and serious industrial accidents at its Hamburg plant that resulted in three fatalities. In response to these incidents, the company...
READ MORESignificant Developments and Copper Production Forecast Hillgrove Resources has reported substantial advancements in its Kanmantoo project, according to its latest quarterly report for the period ending December 31, 2023. Key Milestones at Kanmantoo Copper Production Timeline Drilling Results and Mineral Zones Confirmation Discovery and Exploration Target Revision
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Strategic Developments in Iberian and Australian Projects Osmond Resources has made significant strides in its mining projects during the fourth quarter of 2023, as detailed in its recent quarterly report. Iberian One Project in Spain Australian Projects Salt Wells Lithium-Borate Project in Nevada, USA Corporate Financials
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Mining Operations Update: – In Q4 2023, Atalaya Mining successfully mined 3.7 million tonnes of ore, maintaining its pace with previous quarters and the same period in 2022. – The waste mined in Q4 2023 saw an increase to 7.4 million tonnes, compared to 5.3 million tonnes in Q4 2022. This escalation is attributed to...
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Alcoa, a major U.S. aluminum producer, disclosed its financial results for the fourth quarter, revealing a significant reduction in net loss and changes in production levels. – Quarterly Net Loss: Alcoa’s net loss for Q4 decreased by 2.6 times to $150 million, or $0.84 per share, compared to $395 million, or $2.24 per share, in...
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Compass Minerals International Inc., based in Overland Park, has announced the appointment of Edward Dowling Jr. as the new CEO and president, succeeding Kevin Crutchfield. This leadership change comes as Crutchfield, who has led the company since April 2019, steps down from his role and the board. Key Leadership Changes: Company’s Milestones under Crutchfield: Future...
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