Adapting to Geopolitical and Economic Challenges Rusal, facing geopolitical tensions and anti-Russian sanctions, has been compelled to modify its business model and establish new supplier and partner interactions. Despite these challenges, the aluminum giant has managed to achieve certain successes, even as exchange prices for aluminum fell by about 40% since February 2022. Factors such...
READ MORE
Boost from Chinese Manufacturing Data Prices for most base metals have seen an uptick following the release of encouraging manufacturing data from China. This positive shift in the market is partly attributed to improved manufacturing activity in China, the world’s largest consumer of these metals. November industrial profits in China showed double-digit gains, reinforcing investor...
READ MORE
New Restrictions in Response to Ukraine Invasion In a significant move, South Korea is set to intensify its export controls against Russia and Belarus. This action is a direct response to Moscow’s ongoing invasion of Ukraine. The South Korean government plans to add a substantial number of items to its list of products restricted for...
READ MORE
Investment and Collaboration HET Hydrogen, a subsidiary of CINIC, has received strategic investment from Anglo American, a globally recognized leader in the mining industry. This partnership marks a significant step in the advancement of hydrogen production from electrolytic water, aimed at supporting decarbonization efforts in the transportation, chemical, and steel industries. Technological Advancements and Commercialization...
READ MOREVale Invests in Energy Transition Minerals Brazilian mining and metals giant Vale is investing up to $3 billion in 2024 to explore and develop mineral deposits crucial for the energy transition. Copper and nickel, essential for electric vehicle production, are a key focus. Copper is used in motor windings, while nickel is needed for batteries....
READ MOREA Challenging Year for Industrial Metals 2023 has been a difficult year for industrial metal traders, marked by fluctuating conditions and an overall decline in metal prices. The LME Index, reflecting the performance of major base metals on the London Metal Exchange, has seen a 7% decrease since January. Copper, however, is an exception, witnessing...
READ MOREArdea Resources has provided an update on its collaboration with Sumitomo Metal Mining (SMM) and Mitsubishi Corporation (MC) for the Kalgoorlie Nickel Project (KNP) Goongarrie Hub Definitive Feasibility Study (DFS). Steady Advancement towards Definitive Feasibility Study The joint venture is progressing well, with substantial work already completed in defining the DFS scope. Contracts are being...
READ MORE
Crisis in Nickel Industry Prompts Action The New Caledonian government has recognized the urgent need to address the challenges faced by its nickel industry. Prony Resources, SLN, and KNS factories have struggled with decreased competitiveness due to global market changes, particularly influenced by Indonesian policy shifts and Chinese investment dominance. Factors Impacting the Industry The...
READ MOREAntofagasta Commences Centinela Expansion Antofagasta has announced the approval of the construction of the Centinela Second Concentrator Project. The project, integral to the company’s growth strategy, is set to begin critical path works immediately, with full-scale construction slated for Q1 2024 after finalizing project finance documents. Project’s Key Benefits The project is expected to significantly...
READ MOREFiscal Year Overview Aurubis, a global leader in non-ferrous metals and a major copper recycler, reported operating earnings before taxes (EBT) of €349 million for the fiscal year 2022/23 ending September 30. This result is lower compared to the previous year’s €532 million but remains significant, ranking as the third-best in the company’s history. The...
READ MOREExtension of Tariff Suspension The European Union has decided to extend the suspension of tariffs imposed on U.S. imports as a countermeasure to the U.S. tariffs on steel and aluminum from the EU. This suspension will be in effect until the end of March 2025. Background of the Trade Dispute The decision, announced by the...
READ MORE
Rusal’s Request for Duty Removal Russian aluminium giant Rusal, the world’s largest producer outside China, has requested the Russian government to abolish exchange rate export duties for its Taishet and Boguchansk smelters. These smelters account for approximately 10% of Rusal’s output. The request comes in the wake of falling aluminium prices, as reported by the...
READ MOREPotential of Renewable Energy in Africa Yemi Osinbajo, Nigeria’s former Vice President and global advisor of the Global Energy Alliance for People and Planet (GEAPP), highlighted the significant potential of renewable energy in reducing energy costs and carbon emissions in Africa. He made these remarks during his address at New York University’s Abu Dhabi Campus....
READ MORE
Alligator Makes Strategic Investment in EnviroCopper Ltd for ISR Copper Projects in South Australia Key Investment Highlights Advantages of ISR Technology Collaboration and Advisory Committee Bindura Nickel Corporation Reports 43% Revenue Drop Amid Global Nickel Price Decline Revenue Decline in 2023 Bindura Nickel Corporation (BNC), listed on the Victoria Falls Stock Exchange, experienced a significant...
READ MORECopper Prices Rebound on the London Metal Exchange Copper prices on the London Metal Exchange have started to rise after a prolonged slump, prompting analysts to revise their forecasts for a surplus of the red metal in the global market. For instance, Macquarie Bank now predicts a surplus of 100 thousand tonnes in 2024 and...
READ MOREVulnerability in Mineral Supplies A report from the UK’s parliamentary Foreign Affairs Committee has highlighted Britain’s vulnerability in securing critical minerals, such as cobalt and lithium, essential for various industries including electric vehicle batteries and wind turbines. MPs have expressed concern over the dominance of Chinese firms in these sectors, potentially leaving the UK susceptible...
READ MORE
Anglo’s Drastic Share Price Decline Anglo’s CEO Duncan Wanblad’s announcement of a strategy to cut costs by reducing production has resulted in a 20% drop in shares, contributing to a total year-to-date decline of 48%. This stark contrast is evident when compared to other mining majors like Rio Tinto and BHP, which are down only...
READ MORE
Competition Opens for Land Allocation El Musel is set to potentially host a new factory by the Belgian company Umicore, specializing in the production of electric car battery components. The Port Authority of Gijón has opened a one-month period for bids on two plots, totaling 455,141 square meters, earmarked for this project. Two Strategic Plots...
READ MOREValidated Climate Goals Boliden, a pioneer in the mining and metals industry, has received approval for its climate targets from the Science Based Targets initiative (SBTi). This marks a significant achievement in the company’s environmental initiatives. 42% Reduction by 2030 Aiming for a substantial reduction in climate impact, Boliden plans to decrease scope 1 and...
READ MORE
Swiss multinational commodity trading and mining company Glencore has acknowledged the concerns raised by its shareholders regarding its climate policies. In May, the company faced significant opposition when nearly a third of the votes cast opposed its 2022 climate report. Additionally, a climate transition plan proposed by shareholders, which the management had originally opposed, received...
READ MOREStage One: Blaming the African State The narrative of African countries losing control over their mining sectors to foreign companies dates back to post-independence times. Initially, African governments, such as the Democratic Republic of Congo (DRC), took steps to nationalize mining resources. However, the mid-1970s saw a shift in perception, with external economic shocks and...
READ MOREExtended Credit Support until 2026 ALRO, a prominent aluminium producer in Europe, has successfully extended its USD 150 million working capital credit facility. The extension, coordinated by Exim Banca Românească, is now set until 2026. Syndicate Banks and Legal Advisors The syndicate for this financial arrangement comprises Exim Banca Românească, BCR, OTP Bank Romania, CEC...
READ MOREDivestment Negotiations at a Standstill Negotiations between PT Vale Indonesia Tbk and state-owned mining holding MIND ID regarding the divestment of a 14% share stake have hit a deadlock over price valuation. Indonesia’s SOE Minister Erick Thohir remains adamant on the government’s valuation offer but has not disclosed specific details regarding the proposed share price....
READ MORESual Partners Asserts Rusal’s Capability for Dividend Payout Sual Partners, the largest minority shareholder of Rusal, has expressed the belief that Rusal’s financial status is robust enough to allow for dividend payments. This perspective was conveyed to TASS by representatives of Sual Partners. Dividend Payments and Company’s Financial Stability Sual Partners highlighted that dividend payments,...
READ MORE
