Challenging Economic Outlook for Alcoa’s San Cibrao Plant Fitch, a prominent risk rating consultancy, has delivered a sobering analysis of Alcoa’s industrial complex in A Mariña, particularly its operations in San Cibrao. The firm notes that the lack of an energy alternative at this site has led to an unsustainable economic situation, suggesting that restructuring...
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Explosion at PT IMIP A severe work accident occurred at the PT Indonesia Morowali Industrial Park (IMIP) in Central Sulawesi on Sunday morning, December 24, 2023. The incident, involving an explosion, took place at a nickel processing factory or smelter owned by PT Indonesia Tsingshan Stainless Steel (ITSS), a tenant operating within the IMIP area....
READ MOREVale Invests in Energy Transition Minerals Brazilian mining and metals giant Vale is investing up to $3 billion in 2024 to explore and develop mineral deposits crucial for the energy transition. Copper and nickel, essential for electric vehicle production, are a key focus. Copper is used in motor windings, while nickel is needed for batteries....
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U.S. Move to Preserve Strategic Resources The United States has significantly expanded its claims over the resource-rich ocean floor and continental shelf in the Arctic, an area double the size of California. This strategic move, primarily aimed at securing crucial minerals for future technological development, covers approximately 1 million square kilometers in the Arctic and...
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End of an Era for Molybdenum Luoyang Molybdenum Luoyang and Evolution Mining announced the completion of a significant transaction, selling an 80% interest in the Northparkes Mines Copper and Gold Mine (NPM) for US$756 million. This sale marks the end of a decade-long chapter for Luoyang Molybdenum, which saw the company transform from a local...
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Alcoa Corporation has appointed Matt Reed as the new Executive Vice President (EVP) and Chief Operations Officer, effective January 1, 2024. Reed, currently serving as the Vice President of Operations for Australia, will transition to this global role, taking charge of Alcoa’s extensive operations. Leadership in Global Operations In his new position, Reed will oversee...
READ MOREApproximately 2,000 miners have ended their underground strike at a platinum mine in Rustenburg, North South Africa, after spending three days below the surface. Emergence and Demands The miners, who initiated an illegal strike, surfaced due to the threat of starvation. According to spokesperson Lucky Morotsene, they were awaiting a response to their demands, including...
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Eneos Holdings Announces Significant Share and Interest Transfers Eneos Holdings, Inc. has made a crucial decision regarding its subsidiary, JX Metals Corporation, and its partnership with Marubeni Corporation. JX Metals Corporation will transfer 20% of its shares in Pan Pacific Copper Co., Ltd., and a 3.27% interest in the Los Pelambres Copper Mine to Marubeni...
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Strategic Collaboration for Stainless Steel Production Nornickel, the Russian mining and metals giant, has announced its participation in a project led by RNK-Holding to build a plant for stainless steel products in Russia. This collaboration marks a significant step for Nornickel in expanding its domestic market presence. Project Details and Production Goals The facility, located...
READ MORESuccessful Drilling Program in Botswana Si6 Metals has concluded its first-phase drilling program across its Botswana projects, yielding optimistic results for its precious and base metals prospects. The program, covering 5690 meters, included both reverse-circulation and diamond drilling across the company’s high-grade copper-silver projects at Dibete and Airstrip, as well as the Maibele North nickel-copper-platinum...
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Groundbreaking of New Manufacturing and Recycling Facility Kings Aluminium Industries has commenced construction of its new manufacturing and recycling plant in Khalifa Economic Zones Abu Dhabi (Kezad), with a total investment of AED 750 million ($204 million). The facility, spanning 100,000 sq m, has a 50-year lease agreement with Kezad. Strategic Collaboration and Sustainability Focus...
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Committee Report on Critical Minerals The Ministry of Mines in India formed a committee on November 1, 2022, to identify critical and strategic minerals. The committee’s report identified 30 minerals, including copper, as critical and strategic, given their economic importance and India’s future energy transition requirements. E-Auction of Mineral Blocks The Central Government launched the...
READ MOREA Decade-Long Green Energy Initiative Aludium, inheriting the Alcoa plant in Amorebieta, has embarked on a significant renewable energy venture. The aluminum manufacturer, recently acquired by Jupiter Aluminum, announced a 10-year power purchase agreement (PPA) with Statkraft, Europe’s largest renewable energy producer, and Fortia Energía, a prominent supplier in the Iberian electricity market. This strategic...
READ MOREMMG Metallic Minerals has successfully completed its 2023 exploration program at the La Plata copper-silver-gold-PGE project in Colorado, USA. The program involved drilling 4,530 meters across four diamond drill holes to expand the existing mineral resource. This follows the discovery of substantial mineralization in the 2022 drill hole LAP22-04, which yielded 816 meters of continuous...
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Single Bid Restriction for Strategic Mineral Auctions The Union mines ministry of India is introducing strict regulations for the upcoming auctions of strategic mineral blocks. According to the ministry’s draft auction rules, each applicant will only be permitted to submit a single bid for a mineral block, and the participation of any of its affiliates...
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Transition to Eco-Friendly Energy Rio Tinto, a prominent British mining company, has announced its plan to switch to renewable diesel fuel for its fleet of trucks and heavy machinery at the Kennecott copper mine in the United States, starting in 2024. This transition to renewable fuel, which is produced in the U.S. from bio-based materials,...
READ MORESignificant Growth in Metal Production The Philippines witnessed a notable 7.28% year-on-year increase in metal production value, reaching P189.08 billion (approximately $3.4 billion) in the first nine months. The Mines and Geosciences Bureau (MGB) attributes this growth primarily to the robust performance of nickel ore and its byproducts, which contributed 47.6% to the total value,...
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Deteriorating Financial Condition Leads to Staff Cuts The Armenal plant in Armenia, part of Rusal, has commenced staff reductions, according to local media reports. This move is attributed to the worsening financial state of the enterprise. Rusal Contemplates Closure of Several Smelters Rusal is currently evaluating the potential closure of multiple aluminium smelters in Russia....
READ MOREMajor Investments in Hamburg Plant Aurubis, a leading copper group, is set to further invest 330 million euros in its Hamburg facility. The company’s Supervisory Board has greenlit two new projects at this northern German plant. This investment decision underscores Aurubis’ commitment to expanding its operations and technological capabilities. Construction of New Precious Metals Processing...
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Pressures on Rusal’s Operations Rusal, a major global aluminum producer, is facing severe economic pressures that may lead to the freezing or closure of several of its enterprises. This situation arises as the company grapples with dwindling profitability at numerous facilities. According to a statement by the Aluminium Association, Rusal’s enterprises are operating at the...
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Alliance Formation and Exploration Focus Canada’s Arras Minerals Corp has announced a strategic alliance with fellow Canadian company Teck Resources. This collaboration is centered on exploring critical minerals in Kazakhstan, excluding the Beskauga copper-gold project in which Arras is involved. CEO Comments on Kazakhstan Operations Arras CEO Tim Barry highlighted the company’s early engagement in...
READ MOREExpansion and New Discoveries at Selta Project Power Metal Resources PLC is progressing rapidly with its Selta Project located in Australia’s Northern Territory. Key developments include: 1. Exploration Target Expansion: The project has broadened its search for rare-earth elements (REE) and lithium. This expansion builds upon the insights gained from previous explorations and data analyses....
READ MORECFO Transition at BHP Group BHP Group Ltd., the Australian mining giant, has announced a significant change in its executive team. David Lamont, the current Chief Financial Officer (CFO), has resigned from his position but will continue to serve as a Senior Executive Officer in an advisory role until February 2025. Vandita Pant Steps into...
READ MOREKey Updates on HMW Phase 1 Construction Galan Lithium Limited (ASX: GLN) has provided a progress update on its Hombre Muerto West (HMW) Phase 1 lithium brine project. The construction activities are on track, aiming for lithium chloride production in the first half of 2025. Current Construction Milestones HMW Project Phases and Targets The HMW...
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