The Xunta de Galicia is nearing the completion of the processing for two additional wind farms, adding to a series of renewable energy projects aimed at supplying power to the Alcoa industrial complex in A Mariña, Lugo. This update comes after the authorization of construction permits for a dozen wind farms intended to energize the...
READ MOREPlatinex has made a significant discovery of tantalum at the Muskrat Dam Critical Minerals Project in Northwest Ontario, marking a notable advancement in the exploration of critical minerals. The discovery was made within the Axe Lake claim block, part of the Muskrat Dam Lake greenstone belt, revealing anomalous levels of rare metals including tantalum, lithium,...
READ MOREThe mining industry is gearing up for a bustling year of collective bargaining in 2024, with 42 negotiation processes involving over 20,000 workers, accounting for 36% of the sector’s unionized workforce. This insight comes from the 5th report on Collective Negotiations in the Mining Industry 2024 by the Research Department of Vantaz Group, under the...
READ MORENorthern Lithium has successfully expanded its operational footprint in the North Pennines of County Durham. Through a new agreement with the Church Commissioners for England, the company has secured extended mineral rights over a 60,000-acre area, setting the stage for an ambitious exploration and production endeavor aimed at extracting lithium and other minerals from saline...
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Boliden, a prominent mining entity, has disclosed to Dagens industri (Di) the financial toll of ongoing strikes in Finland, estimating a loss of around 100 million SEK (USD 9.6 million). The company, which operates three facilities in the country—including one mine and two smelters—has experienced a notable reduction in production owing to the strikes. In...
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In a landmark move for the automotive sector, ACC (Automotive Cells Company), backed by industry giants Stellantis, Mercedes, and TotalEnergies, has finalized a major financing deal to propel the development of its three gigafactories across Europe. The company heralded the €4.4 billion bank financing as one of the automotive sector’s most substantial debt financings in...
READ MOREIn a move that could reshape the mining landscape in Mexico, President López Obrador has proposed a ban on open-pit mining, citing severe environmental damage and excessive water usage that detracts from community supplies. The president’s proposal emphasizes the human rights implications, particularly the right to a healthy environment and good health, highlighting the vulnerability...
READ MORENornickel is pivoting towards Russian tech expertise, partnering with RED SOFT and Bazalt SPO to bolster its IT infrastructure with local software solutions. This strategic shift is in response to the departure of foreign tech companies from Russia, prompting Nornickel to explore local alternatives for essential IT services, including operating systems and network management tools....
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Sumitomo Metal Mining, a major player in the mining and metals industry, has revised its financial outlook for the fiscal year ending March 31, 2024, expecting a decrease in consolidated pre-tax income. The Tokyo-based company now forecasts its income before income taxes to be 77 billion yen (USD 516 million), a reduction of 9 billion...
READ MOREImpala Platinum Holdings (Implats) reported a notable decline in its earnings for the six-month period ending December 31, primarily due to a significant reduction in revenue, influenced by a 37% decrease in the dollar revenue per 6E ounce sold. This decline was somewhat mitigated by an 8% depreciation in the rand, according to the company’s...
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New Gold has released its first three-year operational outlook along with an updated mineral reserve and mineral resources statement as of December 31, 2023. The company aims to significantly boost its free cash flow over the next three years, backed by a strategic plan that outlines increasing production while decreasing operational costs. Patrick Godin, President...
READ MORETara Mines in Navan, Co Meath, operated by the Boliden Group, has reported preliminary losses of €65 million for the year 2023. These figures, revealed in the company’s full-year accounts, highlight significant financial challenges faced by the zinc mine, which temporarily halted operations last summer. Around 600 employees were temporarily laid off as the mine...
READ MOREBoliden has reported a substantial increase in mineral reserves for 2023, particularly in the Boliden Area, effectively adding nearly two years to its production lifespan. The company also highlighted successful exploration outcomes in Nautanen, just north of Aitik, where it aims to secure environmental permits for further development. The Aitik area is on the brink...
READ MOREHarita Nickel is aiming to significantly boost its ferronickel production to 120,000 tons in 2024. The company’s CEO, Roy Arman Arfandy, disclosed that this target would be achieved with the support of its two Rotary Kiln Electric Furnace (RKEF) smelters. The Megah Surya Pertiwi (MSP) smelter is expected to produce 25,000 tons of ferronickel, while...
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Brixton Metals Corporation has shared an update on the ongoing exploration at the Hog Heaven project, revealing significant findings from its partnership with Ivanhoe Electric. The exploration program, underpinned by a definitive earn-in agreement allowing Ivanhoe Electric to acquire up to a 75% interest in the project, has shown promising results for the existence of...
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Shanghai Yashi has officially announced a significant development in its operations with the signing of a major purchase and sales contract. During the 18th meeting of its 3rd Board of Directors session on February 6, 2024, the company passed the “Motion on Signing of Significant Purchase and Sales Contracts”. This resolution paves the way for...
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Societe Miniere de Boke (SMB), Guinea’s foremost bauxite producer and exporter, has unveiled plans to invest up to $1 billion in the coming five years to enhance its river terminals and acquire additional vessels. This move is aimed at significantly increasing its export capacity, which reached a record high in 2023. Frederic Bouzigues, SMB’s CEO,...
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SK hynix has unveiled a roadmap for integrating recycled and renewable materials into its manufacturing processes, setting ambitious targets for the semiconductor industry. The company aims to elevate the use of recycled materials in its product manufacturing to 25% by 2025 and aims to surpass 30% by 2030. This initiative represents the first time a...
READ MOREThe competition to access Africa’s critical raw materials, vital for the global shift to renewable energy, has intensified. Major Western mining companies are increasingly cautious, while Middle Eastern oil nations, following China’s lead, are aggressively investing in the continent’s rich reserves of copper, cobalt, nickel, and lithium. This dynamic is a central theme at the...
READ MORESK Nexilis, the South Korean specialist in copper foil for electric vehicle batteries, is currently finalizing its production facility in Stalowa Wola, Poland, with 60% of the project completed. Since announcing the investment in 2021, the landscape for construction costs and investor incentives has evolved. CEO Ki Young Do of SK Nexilis Poland has highlighted...
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Capstone Copper and Orion Fund, along with Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP, have announced a significant financial deal involving the sale of 59,520,000 common shares at a price of C$6.30 (USD 4.725) each, totaling C$374,976,000 (USD 281,232,000) in gross proceeds. This deal, orchestrated by a syndicate...
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In a significant shift in shareholding, the Guixà family holding company has acquired additional shares from certain branches of the Fisas family in La Farga, a distinguished metallurgical firm based in Catalonia, specializing in copper production, particularly from recycled sources. This acquisition has elevated the Guixà family’s ownership to more than 80%, a notable increase...
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Sierra Metals is setting the stage for a year of steady production across its base metals portfolio, building on a successful increase in output throughout 2023. The company, with significant operations in Peru’s Yauricocha mine and Mexico’s Bolivar mine, is focusing on copper production while also preparing for future growth. For 2024, Sierra Metals anticipates...
READ MOREThe introduction of new UK sanctions against Russia is reshaping the landscape of the global metals trade, highlighting the complex interplay of politics and commerce. This move has led to divergent strategies among the world’s largest metals traders and banks, particularly affecting transactions on the London Metal Exchange (LME). JPMorgan Chase & Co. has notably...
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