The non-ferrous metals market in 2024 experienced mixed trends, largely influenced by supply conditions and shifting global demand dynamics. Refined copper prices surged by 7%, driven by shortages and increased demand from sectors such as artificial intelligence (AI) and data centers. Aluminum prices also climbed, supported by favorable upstream sectors, despite supply exceeding demand. Zinc...
READ MOREPortuguese energy company Galp announced on Tuesday that it has dropped its plan to build the Aurora lithium refinery, after failing to find a new partner to replace Northvolt. The Swedish battery manufacturer Northvolt had originally partnered with Galp in a 50-50 joint venture set up in November 2021 to build the lithium processing plant...
READ MOREEuropean Metals Holdings Ltd has announced the final selection of the EPR1 site for the processing plant of its Cinovec Lithium project in Czechia. This decision marks an important milestone in the project’s development, moving it closer to realization. The Prunéřov EPR1 site was chosen after extensive evaluations, which included assessments of construction costs, geotechnical...
READ MOREThe World Platinum Investment Council (WPIC) has forecast a two percent decline in mined platinum supply for 2025, as producers continue to restructure operations in response to challenging market conditions. In its third-quarter supply and demand report, WPIC projected a third consecutive annual supply deficit for the metal in 2025. Newly mined platinum production is...
READ MOREThe global cobalt market faces an ongoing oversupply, largely driven by increased production from copper-cobalt mines in the Democratic Republic of the Congo (DRC). According to Fastmarkets researchers, the DRC produced 76% of the world’s cobalt in 2023, a share projected to remain steady through 2024 and 2025. This oversupply is closely linked to the...
READ MOREBolivia has signed a $1 billion agreement with China’s CBC, a subsidiary of the world’s largest lithium battery producer CATL, to construct two lithium carbonate production facilities in the country’s southwest. The announcement was made on Tuesday, with Bolivia’s state-owned Bolivia Lithium Deposits (YLB) confirming that the plants would be located in the Uyuni salt...
READ MOREFrench mining company Eramet has highlighted the importance of its Chinese partners in ensuring competitive nickel production and maintaining profitability. According to Jérôme Baudelet, chief executive of Eramet Indonesia, Chinese companies are essential in keeping costs manageable and ensuring the viability of operations. “The risk is not being competitive and to have a much higher...
READ MOREKGHM Group reported mixed production and sales results for October, with variations across different metals. The production of payable silver totaled 118.3 tonnes, marking a slight decline of 1% compared to the same period last year. However, silver sales increased significantly, reaching 138.8 tonnes, up by 14% year-on-year. Copper sales by KGHM Group amounted to...
READ MOREU.S. mining giant Newmont has agreed to sell its large gold mine in northern Canada for $795 million (123 billion yen) in cash. This move is part of the company’s broader strategy to sell off non-core assets following its acquisition of Australia’s Newcrest Mining, the largest-ever merger and acquisition (M&A) in the gold mining sector....
READ MOREMalawian company Akatswiri Mineral Resources (Akatswiri) has completed a feasibility study for an $820 million aluminium production project in the southern African nation, according to a report by the Nyasa Times. The study, published on November 24, indicates that bauxite—the primary raw material for aluminium production—has been found at two sites in a mountainous region...
READ MORESaudi Arabia has signed nine investment deals in the metals and mining sector worth over 35 billion riyals ($9.32 billion) with various international companies, including India’s Vedanta and China’s Zijin Group. The deals were announced during the World Investment Conference in Riyadh, as part of the Global Supply Chain Resilience Initiative, a program under Saudi...
READ MOREEcuador’s exports of copper, lead, and precious metals fell during the first three quarters of the year compared to the same period last year, as the country’s largest mines limited production, the government announced on November 25. Copper-lead concentrates dropped 16.7% to 447,277 metric tons (mt) through September, down from 536,684 mt a year earlier....
READ MOREMore than 180 employees are being laid off at U.S. Magnesium, the only company commercially producing lithium in Utah. On Monday, the Utah Department of Workforce Services announced 186 layoffs from U.S. Magnesium’s Salt Lake City division. The layoffs are part of the Worker Adjustment and Retraining Notification (WARN) Act, which requires certain employers to...
READ MORECapstone Copper, a Canadian-based multi-asset copper producer, is eyeing significant growth as it expands its operations in Chile and other regions. Listed on both the Toronto Stock Exchange and, as of this year, the Australian Stock Exchange (ASX), Capstone currently operates four mines across Chile, the United States, and Mexico, with additional development projects in...
READ MOREVedanta Resources is proceeding with its second dollar bond offering in two months, gauging investor interest in Indian offshore debt shortly after the US indictment of Adani Group founder Gautam Adani. The London-based mining company, which operates mainly in India, is issuing a callable note through one of its units, according to sources familiar with...
READ MOREA new technology developed by MTM Critical Metals has the potential to bring about a significant shift in the processing of rare earth elements (REE). The company’s flash joule heating (FJH) technology has successfully removed nearly 50% of the main impurities—iron, aluminium, calcium, and phosphorus—from REE flotation concentrate in a single step. This breakthrough now...
READ MOREScientists have uncovered a vast lithium reserve worth nearly £429 billion ($540 billion) beneath California’s Salton Sea, revealing a staggering potential supply of the valuable element. The Salton Sea, already known to be sitting on a lithium reserve, was found to conceal far more of the element than previously thought. A new study, funded by...
READ MOREAs part of the ongoing decarbonization efforts, a substantial increase in copper demand is anticipated due to the need for additional cabling, which plays a crucial role in energy transition infrastructure. This growing demand for copper is one of the reasons why BHP Group, a global raw materials giant, is projecting a copper deficit of...
READ MOREAustralian resources giant BHP Group is set to invest at least $11 billion in copper projects across Chile, including at Escondida, the world’s largest copper mine. This significant commitment is driven by the anticipated global copper supply shortfall of 10 million tons over the next decade. Details of the investment plan were shared with investors...
READ MOREBarrick Gold announced Friday that it is making significant progress towards building a sustainable future, leveraging a focused asset portfolio and a strategy aimed at uncovering and unlocking value while fostering productive partnerships in its host countries. Speaking to investors in New York, President and CEO Mark Bristow detailed the company’s achievements since its merger,...
READ MOREThe government of Tamil Nadu has stated that it has not received any application from Hindustan Zinc Limited (HZL), a subsidiary of Vedanta, for permission to mine tungsten across 5,000 acres in Madurai district. Furthermore, the state has not granted any such approval, a position reaffirmed on Thursday amid concerns about the ecological impact. The...
READ MOREIndonesia is tightening supplies of nickel ore to protect smaller local miners as the global market for the battery metal faces a prolonged slump, according to French miner Eramet. The move has affected the world’s largest nickel mine, operated by Eramet in North Maluku province, after Indonesia allocated it a sales quota that was 29%...
READ MOREElon Musk has ascended to a powerful position within President-elect Donald Trump’s inner circle, but for the critical minerals sector, Musk has long been a key market mover. The Tesla CEO has wielded his influence—amplified by his social media platform X (formerly Twitter)—to call for more lithium processing, push for increased nickel production, and invest...
READ MOREMitsui, a major Japanese trading firm, has reportedly outbid Saudi Arabia’s Manara Minerals for a minority stake in Canada’s First Quantum Minerals’ copper mines in Zambia. This development, reported by Bloomberg on November 19, underscores the intense competition among global powers for Africa’s vital mineral resources. According to unofficial sources, Mitsui has offered approximately $2...
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