Anglo American Platinum reported a downturn in its full-year 2023 production figures, with its Zimbabwe operation, Unki Mine, providing a crucial buffer against further declines. Unki Mine saw a 5% increase in total Platinum Group Metals (PGM) production, reaching 243,800 ounces, thanks to a concentrator debottlenecking project completed in 2022. Despite challenges such as mill...
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The mining sector is facing severe job cuts, with major companies like Sibanye-Stillwater, Impala Platinum, and Anglo American Platinum laying off staff due to falling commodity prices and logistical challenges. Independent Media’s Business Report and The Mercury will soon explore the impact of these losses, which not only affect employees but also the wider communities...
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The United Kingdom has escalated its sanctions regime, targeting the management of the Ural Mining and Metallurgical Company (UMMC), among others, in its latest move to address arms suppliers and key revenue sources for Russia. This decision, announced by the UK’s Foreign and Commonwealth Office, underscores the international community’s ongoing efforts to apply economic pressure...
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Newmont finalized the acquisition of Newcrest Mining Limited on November 6, 2023, marking a significant expansion of its operations. This merger has positioned Newmont as a prominent figure in the gold industry, with enhanced capabilities in copper. In 2023, Newmont paid out $1.4 billion in dividends to its shareholders. The company reported a production of...
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Western Australia’s WorkSafe watchdog has initiated investigations into Albemarle and Alcoa following incidents of chemical exposure at their facilities in the state’s South West. At Albemarle’s lithium refinery in Kemerton, complaints from workers about throat and eye irritations led to 13 individuals seeking medical treatment for symptoms consistent with chemical exposure earlier this month. Alcoa...
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In the central Uzbek town of Olmaliq, workers from Uzbekistan and India employed by Enter Engineering, an industrial construction firm, have staged a protest over unpaid wages. The demonstration, held on 21 February, highlighted the growing unrest among employees who claim they have not received their salaries for months. Videos circulating on social media show...
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OceanaGold today announced its operational and financial results for the fourth quarter and the full year ended December 31, 2023. The company successfully met its 2023 production guidance, achieving a total gold production of 477,313 ounces and copper production of 14,172 tonnes, aligning with initial projections for the year. This performance was bolstered by significant...
READ MOREPan American Silver has unveiled its financial results for the fourth quarter of 2023 (Q4 2023) and the full year ended December 31, 2023 (FY 2023), highlighting a robust financial position and the strategic move to repurchase common shares through a normal course issuer bid.President and CEO Michael Steinmann emphasized the company’s solid foundation, with...
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In a significant stride towards bolstering Canada’s position in the global mining and electric vehicle (EV) supply chain, Canada Nickel Company has unveiled plans to establish two state-of-the-art mineral processing facilities in Timmins. This announcement, made by CEO Mark Selby, marks a pivotal development for the region, promising to usher in a new era of...
READ MOREIn a challenging year marked by fluctuating metal prices, Rio Tinto, the British-Australian mining giant, reported a 19% decline in its net income for 2021, with figures dropping to $10.06 billion from the previous year’s $12.39 billion. This downturn was primarily attributed to diminished prices for aluminum and copper, key components of the company’s portfolio....
READ MORESibanye-Stillwater is set to release its comprehensive operating and financial results for the latter half and the entire year of 2023 on March 5, 2024. The company has achieved its production goals for the year, except for the US PGM recycling business, which faced external pressures. The SA PGM operations remained consistent, producing 1,748,430 4Eoz...
READ MOREFirst Quantum Minerals is implementing a significant management reshuffle at its Zambian operations, following two years of performance that did not meet company expectations in terms of safety and production. Chief Operating Officer Rudi Badenhorst communicated these changes in an email to the employees of the Kansanshi mine, highlighting the need to reinforce commitments to...
READ MOREDistrict Metals and Boliden Minerals have jointly approved a $1.5 million exploration budget for the Tomtebo and Stollberg Properties in 2024, marking a significant step forward in the exploration of these high-grade polymetallic properties located in Sweden’s Bergslagen Mining District. District Metals, serving as the operator of this collaboration, has already initiated core drilling activities...
READ MOREDuring a recent working visit to the Krasnoyarsk Territory, Russian Deputy Prime Minister Victoria Abramchenko, alongside regional head Mikhail Kotyukov, toured the Krasnoyarsk Aluminium Smelter (KrAZ), owned by Rusal Krasnoyarsk. The visit highlighted substantial advancements made at the facility over the past three years to enhance its environmental performance. Evgeny Kuryanov, Managing Director at KrAZ,...
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In a recent development that has caught the attention of the mining industry, Brazilian mining giant Vale’s board of directors faced a deadlock over the decision on whether to extend Chief Executive Eduardo Bartolomeo’s tenure. According to sources familiar with the matter, during a board meeting held on Thursday, the vote on Bartolomeo’s reappointment ended...
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As the global demand for minerals crucial for the technology and energy sectors surges, deep-sea mining appears to be an inevitable development, according to Michael Lodge, the Secretary-General of the International Seabed Authority (ISA). Lodge highlighted the industrial appeal of deep-sea mining, noting its potential for producing significant quantities of minerals at costs comparable to...
READ MORENovelishas taken a significant step towards achieving carbon-neutral production. The company has entered into a long-term green energy supply contract with Statkraft, Europe’s largest producer of renewable energy. This agreement will provide approximately 16 percent of the electricity needs of Novelis’ German operations with 100 percent renewable energy. The contract is set to cover up...
READ MOREThe European Union’s imports of Russian titanium have significantly dwindled, with December 2023 figures revealing a 56% drop from the previous month and a 39% decrease compared to the same period last year. According to the EU statistical service, the sharp decrease has led to European countries importing only 263.7 tonnes of Russian titanium in...
READ MORERincon Resources has made significant strides in expanding its exploration footprint within the West Arunta region of Western Australia. The company has applied for a new exploration licence, extending its reach in the area to over 260 square kilometers. This latest application connects to Rincon’s existing tenements and encompasses the historical ‘Mantati’ occurrence, known for...
READ MOREThis week, investors are on high alert for insights from Australia’s mining giants regarding the Chinese economy’s recovery post-Lunar New Year break. Eyes are particularly on BHP, Rio Tinto, and Fortescue Metals, who are all scheduled to release their half-year results consecutively from Tuesday to Thursday. Starting the year on a high note, their share...
READ MOREDuring its latest virtual Annual General Meeting, Aurubis, a world leader in non-ferrous metals manufacturing and one of the largest copper recyclers globally, outlined its strategic growth path, emphasizing a robust commitment to future expansion. The company is set to invest approximately €1.7 billion in strategic projects aimed at bolstering its core business, expanding recycling...
READ MORESouth32 has announced a significant $2.16 billion investment to advance its Hermosa project in Arizona, marking a pivotal development for the United States’ mining sector. This project, distinguished as the only advanced U.S. mining venture capable of producing zinc and manganese—two minerals deemed critical by the federal government—has received unanimous board approval for funding to...
READ MOREIndonesia and Vale Base Metals have finalized their negotiations, reaching a preliminary agreement on the pricing for a share divestment plan involving Vale’s Indonesian unit. This development, confirmed by the Indonesian mining minister on Friday, marks a significant step towards fulfilling the regulatory requirements for extending Vale Indonesia’s mining operations beyond 2025. Under the terms...
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Norsk Hydro announced on February 15, 2024, the successful signing of a new USD 1,000 million revolving multi-currency credit facility, marking a significant financial maneuver for the corporation. This new facility, designed to support general corporate purposes, showcases a strategic approach to financial management with a two-year tenure and an additional one-year extension option. This...
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