The U.S. Department of Energy (DOE) has finalized a $2.26 billion loan to support a lithium processing facility at Thacker Pass, Nevada. The loan, provided to Lithium Americas’ subsidiary, Lithium Nevada, is part of the Biden-Harris Administration’s Investing in America initiative. The facility, next to the largest confirmed lithium resource in North America, will produce...
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 MOREStardust Power, an American company focused on developing battery-grade lithium products, has announced its collaboration with MUFG Bank to support the development of a major lithium refining facility in Muskogee, Oklahoma. The facility is set to become one of the largest of its kind in the United States, aiming to produce up to 25,000 metric...
READ MORESharp Decline Follows Record High Spot gold experienced a significant decline on Thursday, closing down by \$43.50, or 1.56%, at \$2,743.63 per ounce. This drop followed a historic high of \$2,790.11 per ounce reached earlier in the day. Analysts cited profit-taking by investors and robust US economic data as primary reasons for the downturn. David...
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 MORELi-Cycle Holdings has strengthened its partnership with global commodities giant Glencore by finalizing a commercial agreement for the off-take of mixed hydroxide precipitate (MHP) produced at the Rochester Hub. This strategic deal ensures that Glencore will take 100% of the MHP output from the Rochester facility, which includes valuable metals like nickel and cobalt. The...
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 MOREAlcoa is “very bullish” on the outlook for aluminium as the energy transition drives increased demand, including a shift away from copper, CEO William Oplinger said on Wednesday. Speaking at a conference in Sydney, Oplinger highlighted that demand growth will be largely driven by the energy transition, with aluminium increasingly substituting for copper in certain...
READ MOREChinese battery manufacturer Gotion has announced plans to invest in a lithium battery project in Vietnam’s Vung Ang Economic Zone, located in Ha Tinh Province. Representatives from Gotion met with the Ha Tinh Economic Zone Management Authority in late October to discuss the development of this energy storage facility, which aims to optimize renewable energy...
READ MOREAura Minerals will acquire a 100% interest in Bluestone Resources’ Cerro Blanco gold project in Guatemala and the Mita Geothermal project. The deal values Bluestone at C$0.50 per share, representing a 51% premium, with the total enterprise value reaching up to US$74.3 million. Bluestone shareholders can choose a cash payment of C$0.287 per share or...
READ MOREBlackRock, the world’s largest investment fund manager, has increased its stake in Alcoa, just as the Pittsburgh-based multinational records two consecutive profitable quarters. According to Bloomberg, BlackRock closed September as Alcoa’s largest shareholder, with a 9.76% stake after purchasing an additional 3.6 million shares. The firm, headed by Larry Fink, now controls a total of...
READ MOREThe price of palladium on the world market has surged to $1,170 per troy ounce for the first time in ten months, driven by concerns over potential new sanctions on Russian exports. On October 24, the price jumped by more than 10% in a single day, outpacing other precious metals and reflecting market fears about...
READ MOREThe speed at which Anglo American shifts towards becoming a copper-focused miner could ultimately decide its future—either continuing as an independent company or being absorbed by a larger rival, such as BHP Group. Earlier this year, BHP attempted but failed to acquire Anglo, walking away from a \$49 billion bid in May after being rebuffed...
READ MOREAsset management firm Coronation has reversed its stance on the platinum group metals (PGMs) sector, deciding to reinvest after initially pulling out a year ago due to concerns that the industry was facing a decline. The firm’s change of heart is largely attributed to the recent slowdown in the adoption of battery electric vehicles (EVs),...
READ MORETeck Resources has reported a $748 million loss from continuing operations attributable to shareholders in the third quarter, primarily due to a one-time asset impairment charge related to its Trail operations. The Vancouver-based mining company recorded a loss of $1.45 per diluted share, a significant increase compared to the loss of $48 million, or nine...
READ MOREOn Tuesday, October 22, spot silver prices surged by over 3%, reaching a new 12-year high. Silver hit $34.86 per ounce during the session, closing at $34.847 per ounce, the highest price recorded since late 2012. This price increase comes amid broader risk aversion in global markets, even as US Treasury yields continue to rise....
READ MOREAuthorities in Vietnam’s northern province of Bac Giang have granted licenses to two China-invested projects with a total pledged capital of $83 million, according to the Provincial Industrial Zones Authority. HongKong Xinwei Electronic Co., Limited has received approval to build a $58-million facility for manufacturing lithium batteries for electronic items such as computers and phones,...
READ MOREOn Wednesday, October 23, spot gold prices fell sharply, dropping more than 1% after hitting a record high earlier in the day. The decline came as the U.S. dollar strengthened, U.S. bond yields rose, and tensions in the Middle East appeared to ease, prompting investors to take profits. Spot gold closed down \$33.44, or 1.22%,...
READ MORENewmont, the world’s largest gold producer, reported its highest quarterly profit in five years, driven by a surge in gold prices. Despite the profit jump, shares of the company fell after both sales and earnings missed analysts’ expectations. In the third quarter, the Denver-based company’s net income attributable to shareholders was \$922 million, nearly six...
READ MOREPasinex Resources is moving forward with plans to expanding its operations in Türkiye with a new agreement that could see it acquire a major lead-zinc mining license. The Canadian company, through its local subsidiary Pasinex Arama, signed an Option and Purchase Agreement with Aydin Teknik, a local Turkish firm, for the Sarikaya property—a lead-zinc site...
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 MOREThe U.S. dollar index reached an 11-week high on Wednesday, October 16, rising 0.29% to 103.52 as investors dismissed the possibility of a sharp rate cut by the Federal Reserve at its next policy meeting and considered the implications of a potential Donald Trump election victory. The benchmark 10-year U.S. bond yield closed at 4.018%,...
READ MOREThe board of Russian aluminum major Rusal is considering a share buyback of RUB 15 billion ($155 million), representing approximately 2.8% of its share capital. The company argues that the buyback could be beneficial for shareholders. However, coal major Sual Partners, controlled by sanctioned Russian oligarch Viktor Vekselberg, intends to block the share buyback. Sual...
READ MORECanada’s Lithium Americas announced that General Motors (GM) will increase its planned investment in the Thacker Pass lithium project in Nevada by nearly 90%, to $625 million, giving the automaker an ownership stake in the mine that produces lithium—a critical component for electric vehicle (EV) batteries. The expanded investment follows a $2.26 billion preliminary commitment...
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