Umicore, a global leader in catalysts, cathodes, and recycling, is navigating through turbulent times as its share price on the Brussels Stock Exchange plummets to €19.83, marking the lowest point in the last eight years. The 2023 results fell short of expectations, with a 7% decrease in sales and a 16% drop in operating profit...
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Anglo American, a global mining giant, faces pressing calls for a comprehensive restructuring to enhance its profitability and rejuvenate its share price, which has seen a significant decline of over 10% since the start of 2024. This downward trend is largely attributed to the faltering form and demand for commodities. With its diverse portfolio spanning...
READ MOREST Extruded Products Group (STEP-G) will experience a change in leadership starting April 1, 2024, as Faruk Tüfekli, Director of Operations, and Stefan Knabben, Director of Sales, are set to assume joint management roles. They will be replacing Markus Ogawa, who will depart from his role as Managing Director on March 31, 2024. The company...
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Aluminium Dunkerque (AD) and its parent company, Aluminium Dunkerque Industries France (ADIF), have successfully acquired new bank facilities amounting to $375 million, aiming to fully refinance their existing debts. This financial restructuring was announced on March 5, 2024, from their base in Loon-Plage, France. Highlighting its commitment to sustainable development, Aluminium Dunkerque has integrated environmental...
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Estonia has officially joined the ranks of the Mineral Security Partnership (MSP), bolstering its role in the global supply chain of critical raw materials. Ene Jurjens, head of the mineral resources department at the Ministry of Climate, highlighted Estonia’s expertise in processing rare earth metals as a strategic advantage. The country aims to foster information...
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Chilean mining giant SQM, in partnership with Hancock through their joint venture, SH Mining, is poised to acquire all shares of Azure Minerals. This strategic move follows approval from the Australian competition authority, signaling a green light for the operation. The board of Azure Minerals has unanimously endorsed the proposed transaction, contingent upon no superior...
READ MOREAverna has joined forces with Gotion, an internationally acclaimed battery manufacturer, to develop an advanced end-of-cycle test system aimed at enhancing the validation process for electrical components in battery packs. This collaboration signifies a significant leap in battery manufacturing, promising to set new benchmarks in quality and innovation. Jochen Weber, Vice President of Averna Germany,...
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The gold sector witnessed a significant uptick as Barrick Gold, the world’s second-largest gold producer, saw its shares climb by 3.5% following a jump in gold prices to a record high. This movement comes amidst a broader surge in mining shares, positioning Barrick Gold for further growth if its shares surpass the $16 mark, signaling...
READ MOREFresnillo, the world’s leading silver producer based in Mexico, experienced a challenging fiscal year with its pre-tax profits plummeting by over half despite an increase in revenue. The company reported adjusted revenues of $2.86 billion, up from $2.5 billion in the previous year. However, pre-tax profit suffered a 54.1% decline, settling at $114 million, attributed...
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Norsk Hydro, through its renewable energy division Hydro Rein, has embarked on a significant expansion into wind power by acquiring an 80% interest in a 2.4-gigawatt portfolio of wind power projects under development in Sweden and Norway. This move marks a substantial step forward in the company’s renewable energy ambitions. The strategic partnership established with...
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Aneka Tambang (ANTAM), a prominent player in Indonesia’s mining sector and a member of PT Mineral Industri Indonesia (Persero) (MIND ID) – the State-Owned Enterprise Holding of Mining Industry, has outlined an ambitious plan to elevate production and sales across its main commodities in 2024. With a strategic approach towards efficient cost management, ANTAM is...
READ MOREAston Bay Holdings has forged a deal with Emerald Geological Services (EGS) to secure an 80% stake in the Epworth Property, situated in Nunavut, Canada. This pivotal arrangement mandates Aston Bay to funnel a minimum of C$3 million ($2.22 million) into exploration efforts over the next four years. Nestled about 80km southeast of Kugluktuk in...
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Eramet, a French multinational mining and metallurgy company, has reached an agreement to convert the government loans of its New Caledonia nickel unit, Société Le Nickel (SLN), into equity. As of the end of December, these loans constituted approximately 40% of Eramet’s net debt, which stood at 614 million euros. Since then, the French government...
READ MOREIndonesia’s Energy and Mineral Resources Ministry is on track to finalize mining quota approvals for mineral companies by the end of March, according to a senior official. Out of 723 firms that have submitted their quota requests, known locally as RKAB, approvals have been granted to about 120 companies to date. The delay in the...
READ MOREXiamen Tungsten has announced that its wholly-owned subsidiary, CHIXIA Laos Holdings, is set to acquire a 90% stake in China Investment (Laos) Mining for a total of US$18,963,000. The deal, which involves a combination of cash and debt arrangements, includes US$6,276,500 for equity transfer and US$12,686,500 to repay loans from related parties to CIC Land....
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In a recent interview, Alexey Vostokov, the CEO of Polyus, Russia’s leading gold mining company, shared insights into the company’s strategic direction amidst rising capital expenditures and the complexities of the current geopolitical and economic landscape. Vostokov highlighted that Polyus is entering a phase of increased capital investments, particularly due to the Sukhoi Log project,...
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Amur Minerals has recently announced its status as an AIM Rule 15 cash shell and is making progress toward completing a Reverse Takeover (RTO), a strategic move aligning with AIM Rule 14. On January 25, 2024, Amur entered into a preliminary agreement to acquire a UK-based pharmaceutical company, identified as the Target. This company has...
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Assan Aluminyum, a prominent figure in the flat-rolled aluminum industry, has embarked on a significant stride towards sustainability and increased production capacity. The company has secured a $90 million green loan from the International Finance Corporation (IFC) to back its ambitious multi-year investment program focused on sustainable growth. This initiative marks a significant move towards...
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The National Union of Metalworkers of South Africa (Numsa) is calling for an immediate moratorium on retrenchments within the country’s platinum group metals (PGMs) mines, highlighting the broader mining sector’s inability to re-employ those laid off. Major mining companies like Sibanye-Stillwater, Anglo American Platinum (Amplats), and Impala Platinum have been reducing their workforce, citing plummeting...
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In Esmeralda County, Nevada, a transformation is underway, spearheaded by Bernard Rowe, a geologist and managing director of the Australian mining company, Ioneer. Since 2016, over $172 million has been invested in a project aiming to mine lithium and boron from the ancient landscape of Rhyolite Ridge, a site with a unique geological history dating...
READ MOREIndia has taken a significant step towards fostering innovation in the mining and mineral sector by allocating grants totaling approximately $723,887 to five startups and MSMEs. This initiative, announced by Union Minister for Mines Pralhad Joshi, aims to fund groundbreaking technologies in critical areas including rare earth extraction and battery material production. The beneficiaries of...
READ MORENortham Platinum announced on Friday a strategic pause on several capital projects in response to the ongoing slump in metal prices, which significantly impacted its profitability in the first half of the year. The South African miner reported a 93% drop in profit, reflecting the broader challenges faced by the platinum group metal (PGM) producers...
READ MOREPal Kildemo, the Executive Vice President and Chief Financial Officer of Norwegian aluminium and renewable energy company Norsk Hydro ASA, is set to depart the firm. Announced by Hydro, Kildemo will transition into the role of CFO at Emirates Global Aluminium (EGA), a leading aluminium producer based in the United Arab Emirates. Kildemo, who has...
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Scientists have successfully revitalized the use of niobium to create high-performance superconducting qubits, a crucial component for building quantum computers. For over a decade, aluminum has dominated the superconducting qubits arena due to its longer coherence time, which is vital for information retention. However, niobium has offered significant advantages, including higher operating temperatures, a broader...
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