A potential conflict with China poses a significant threat to the U.S. military, particularly if Beijing decides to restrict exports of antimony—a key metal crucial to the American military’s arsenal. Antimony (Sb) is one of the best-performing commodities this year, and its restricted supply could jeopardize military readiness. Antimony miners in Western-friendly nations are currently...
READ MOREBHP has announced plans to invest over $12 billion to expand its copper operations in Chile, focusing on the Escondida and Spence mines in the Antofagasta region. The investment aims to counter an expected production decline between 2027 and 2030. At the same time, the company faces worker protests over alleged labor abuses. Alexis Barrera,...
READ MOREThe Ministry of Commerce, Industry & Investment Promotion has launched the Aluminium Initiative in Suhar, in the North Al Batinah Governorate. This ambitious project aligns with Oman’s Industrial Strategy 2040, aiming to diversify the economy and promote sustainable industrial growth. The initiative seeks to create an integrated economic cluster focused on downstream aluminium industries, emphasizing...
READ MOREKorea Zinc, the world’s largest producer in the non-ferrous metals sector, has had its patented technology for processing secondary battery precursors officially recognized by the South Korean government as a national core technology. This designation means that the government will manage the technology with special oversight, particularly in matters of mergers and acquisitions involving foreign...
READ MOREOmani authorities are advancing plans to establish an Integrated Economic Cluster for Aluminium Industries in the Wilayat of Suhar, a region already at the heart of substantial aluminium-related investments. The Oman Vision 2040 Implementation Follow-Up Unit is spearheading this initiative, collaborating with various government ministries and agencies to move the project forward. The planned cluster...
READ MOREIndustry sources indicate that the incoming Trump US administration is planning to adopt a stricter approach toward allowing Chinese-owned or operated raw materials, such as nickel, to qualify for credits under the Inflation Reduction Act (IRA). Washington insiders told Fastmarkets that one of the new administration’s early actions will likely be to tighten the Foreign...
READ MORESecuring nickel that complies with the Inflation Reduction Act (IRA) requirements is expected to become even more challenging. The US president-elect, Donald Trump, is likely to adopt a zero-tolerance approach to allowing Chinese-owned or operated supplies of raw materials like nickel to qualify for IRA credits. Washington sources told Fastmarkets that one of the first...
READ MORERussia has proposed resource cooperation in the management of subsurface resources to African countries, Russian Natural Resources Minister Alexander Kozlov announced at the Russia-Africa Partnership Forum in Sochi. The proposal aims to strengthen collaboration in mineral exploration, leveraging Russia’s expertise and extensive mineral reserves to assist African nations in tapping into their own resources. Minister...
READ MOREDonald Trump’s return to the White House after defeating Kamala Harris has generated waves of speculation across various economic sectors, including significant interest from the aluminium industry. Now serving as the 47th President of the United States, Trump’s history of implementing protectionist policies is making industry experts wary of potential shifts under his new administration....
READ MOREA critical minerals agreement with the United States could help reduce the Philippines’ dependence on Chinese and Indonesian exports and enable the country to focus on producing nickel suitable for battery use, according to Nickel Asia Corp. President and CEO Martin Antonio G. Zamora. Speaking at the Pilipinas Conference 2024, Zamora explained that China, the...
READ MOREThe Saudi Export-Import Bank (Saudi EXIM) has signed a $300 million credit facility agreement with Glencore to support Saudi Arabia’s expanding mineral exports. The deal is part of efforts to boost Saudi non-oil exports by enabling the marketing of Saudi mineral products in over 156 global markets. The signing took place in Geneva, Switzerland, during...
READ MORENorsk Titanium has received continued funding to develop and refine its production process for nickel superalloy components aimed at US Department of Defense (DoD) applications. The company’s patented Rapid Plasma Deposition (RPD) technology is being used to create aerospace-grade structural titanium and is now expanding its capabilities to produce nickel superalloys. The funding supports Norsk...
READ MOREUK Export Finance (UKEF) will now provide financial support for overseas projects that supply critical minerals essential to major UK industries, as announced by the Chancellor. This move aims to help British industries access a stable and long-term supply of these crucial resources, including minerals like lithium, graphite, and cobalt, which are vital to sectors...
READ MOREUK Export Finance (UKEF) will now provide financial backing for overseas projects that source critical minerals essential to major UK industries, such as automotive, defence, and aerospace. This move aims to secure long-term access to materials like lithium, graphite, and cobalt, which are increasingly vital for emerging technologies, renewable energy, and the transition to net...
READ MOREThe U.S. government has expanded its Section 45X Advanced Manufacturing Production Credit to cover extraction and material costs, benefiting metal refiners while excluding pure mining companies. This change, part of the Inflation Reduction Act, was announced in final regulations by the Treasury Department and Internal Revenue Service (IRS). The 45X Advanced Manufacturing Production Credit aims...
READ MOREThe Aluminium Association of India (AAI), the apex body representing the leading aluminium producers in India, has submitted a pre-budget representation to the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce. The submission emphasizes aluminium’s crucial role in India’s economic growth, particularly as the nation aims to achieve the...
READ MOREThe U.S. Department of Energy (DOE) has closed a $2.26 billion loan to Lithium Americas Corp’s subsidiary, Lithium Nevada Corp, to support the construction of lithium processing facilities at Thacker Pass in Humboldt County, Nevada. The loan, part of the Biden-Harris Administration’s Investing in America initiative, aims to finance the project located adjacent to the...
READ MORERussia is in negotiations with other BRICS nations to establish an international precious metals exchange, Russian Finance Minister Anton Siluanov announced on Thursday. The initiative aims to promote fair pricing and boost trade in the precious metals sector, providing an alternative to Western-dominated trading venues. Siluanov detailed that the proposed mechanism would include the development...
READ MOREThe United States has reportedly urged Group of Seven (G-7) allies to consider imposing sanctions on Russian palladium and titanium as the Biden administration explores new strategies to pressure President Vladimir Putin’s war effort in Ukraine. A person familiar with the matter revealed that Biden administration officials floated the possibility during a meeting of G-7...
READ MOREIn Monday’s Asian market session, spot gold experienced a sharp upward movement, breaking through $2,731 per ounce and touching a new all-time high of $2,731.43 per ounce. This surge is attributed to escalating geopolitical tensions and rising concerns regarding the U.S. elections, which have driven demand for safe-haven assets. The recent surge in gold prices...
READ MOREMonday’s commodity markets experienced significant movements across copper, crude oil, and gold, influenced by a range of geopolitical and economic factors. Copper contracts on the London Metal Exchange (LME), crude oil futures on NYMEX, and gold futures on COMEX all saw gains as disruptions in mining, escalating geopolitical tensions, and economic signals shaped investor sentiment....
READ MOREThe Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
READ MOREIndonesia’s Energy Minister, Bahil Lahadalia, recently announced a potential extension of copper concentrate export licenses for Freeport Indonesia and Amman Mineral for up to two months. This decision reflects the government’s broader efforts to upgrade and transform the domestic copper industry. As a significant producer of copper resources, Indonesia’s copper concentrate exports play an important...
READ MOREThe Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
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