BHP, the world’s largest mining company, remains flexible in its approach to copper growth, whether through expanding its existing operations or pursuing acquisitions. Speaking on Thursday, Geraldine Slattery, BHP’s president of Australia, emphasized that the company is not strictly focused on either internal or external growth to increase its copper footprint. “Growth is certainly a...
READ MORERio Tinto appears to be focusing on developing its existing copper resources rather than pursuing new acquisitions to boost copper production, according to analysts from Morgan Stanley. Following an investor briefing, the analysts noted that Rio Tinto’s new copper chief, Katie Jackson, is concentrating on ramping up production at the Oyu Tolgoi mine and addressing...
READ MOREAustralian mining giant Rio Tinto has forecast a significant increase in consolidated mined copper production for fiscal year 2025, driven largely by a projected 50% surge in output from its Oyu Tolgoi operation in Mongolia. The company, traditionally reliant on iron ore profits, is pivoting its focus towards copper, anticipating a 3% annual growth from...
READ MOREChile has designated six additional sites for private companies to extract lithium, adding to the six priority areas previously announced in September, the mining ministry said on Thursday. The move aims to boost lithium production by encouraging private sector involvement in the mining of this critical battery metal. Chile, the world’s second-largest producer of lithium,...
READ MOREKazakhstan and the United Kingdom are advancing their partnership in the field of critical minerals, with British companies actively negotiating supply contracts with Kazakhstani producers of tungsten products. Six brokers from the UK and three end users are currently in talks to secure these materials, reflecting growing interest in strengthening supply chains for essential metals....
READ MOREActivist investor Palliser Capital has intensified its efforts to pressure Rio Tinto into abandoning its primary listing in London, demanding an independent review of the mining giant’s corporate structure in Australia, the Financial Times reported on Wednesday. Palliser initially called for Rio Tinto to drop its London listing and unify its corporate structure in Australia...
READ MOREForan Mining (TSX: FOM) has provided a construction update for its 100%-owned McIlvenna Bay copper-zinc mine, which is progressing toward initial production in the fourth quarter of next year. The project is located in Saskatchewan, about 65 kilometers west of Flin Flon, Manitoba. McIlvenna Bay hosts the largest undeveloped volcanogenic-hosted massive sulphide (VHMS) deposit in...
READ MOREThe cobalt market is currently under pressure, with supply outpacing demand and prices reflecting the shift. Cobalt sulfate prices have been gradually declining, suggesting a slowdown in demand, especially from China’s passenger electric vehicle (PEV) sector. This shift is attributed to the growing preference for lithium-iron-phosphate (LFP) batteries, which do not require cobalt. According to...
READ MOREA lesser-known metal, antimony, has experienced a 300% price rally this year, outpacing gains in gold, silver, and even Bitcoin. Western nations have embarked on a \$100 billion spending spree to replenish their military arsenals, including cruise missiles, artillery shells, javelins, and armored vehicles—all of which require antimony. However, the United States does not produce...
READ MOREThe volume of Russian aluminium imports to South Korea reached its highest level in over 12 years this October, according to calculations based on data from the Korean statistical service by RIA Novosti. In October 2024, South Korea’s purchases of aluminium from Russia totaled $96.5 million, marking the maximum monthly import volume since June 2012,...
READ MOREZinc prices are seeing increased volatility as tightening supply conditions leave buyers exposed to sudden changes in availability. Last week, the metal, which is widely used to galvanize steel, experienced turbulent trading on the London Metal Exchange (LME), ending almost 5% higher despite a 2.5% drop on Thursday. The price spike was driven by large...
READ MOREThe combined third-quarter production of the 20 largest zinc miners rose by 32.7% year over year and by 8.0% quarter over quarter, according to data from S&P Global Market Intelligence. The total output for these top 20 companies reached 1.5 million metric tons (MMt) in the September quarter, compared to 1.2 MMt in the same...
READ MOREKingsrose Mining has received approvals to begin drilling at the Karenhaugen prospect, located within the Porsanger Project in Norway. The Porsanger Project is positioned at the northern end of two converging greenstone belts, which are considered highly prospective for ultramafic-hosted massive sulphide nickel, copper, and platinum group element mineralisation. Kingsrose initially applied for the drilling...
READ MOREVale Metais Básicos has completed the construction and commissioning of the $2.94 billion Voisey’s Bay Mine Expansion Project in northern Labrador, Canada. The expansion marks a significant milestone, increasing nickel in concentrate production to 45,000 tons per year (ktpa), alongside 20 ktpa of copper and 2.6 ktpa of cobalt. This development is seen as crucial...
READ MORENorthern Star Resources has agreed to acquire De Grey Mining in an all-stock transaction valued at approximately A$5 billion ($3.26 billion). This acquisition comes as gold prices hover near record highs, prompting gold companies to secure new mining assets in a competitive landscape. The acquisition will give Northern Star one of the largest undeveloped gold...
READ MOREHemerdon Mine, located on the outskirts of Plymouth, Devon, has called on the UK government for support in extracting one of the world’s largest tungsten deposits. According to company executives, the mine, operated by Tungsten West since 2019, holds the second largest deposit of tungsten globally. Tungsten is a critical mineral with high demand in...
READ MOREMadagascar’s Ambatovy nickel project companies are expected to complete their debt restructuring in early December, according to a statement by Sumitomo Corp, the project’s major shareholder. Sumitomo, which holds a 54.2% stake in the Ambatovy companies—Ambatovy Minerals and Dynatec Madagascar—said it is still assessing all options for the project’s future. The remaining stake in the...
READ MOREGlobal bauxite and aluminum prices have surged to a five-month high this month, driven by economic growth, supply concerns, and a weaker U.S. dollar. Analysts predict that prices could continue to rise from current levels, reflecting the broader market’s ongoing uncertainties. Aluminum prices are currently about 18% higher than they were a year ago, with...
READ MOREThe follow-up meeting concerning Alcoa’s plant in San Cibrao, located in the municipality of Cervo (Lugo), is scheduled to take place in Madrid on December 9 at 11:30 a.m. This meeting will involve representatives from the company, workers, and relevant administrative bodies. The works council, which has long advocated for this meeting, confirmed the date,...
READ MOREDespite persistent challenges with platinum prices, the precious metal market is seeing support as the World Platinum Investment Council (WPIC) predicts a market deficit in both 2024 and 2025. Edward Sterk, WPIC’s director of research, highlighted that while demand for platinum remains steady, supply has struggled to keep up, a trend that looks set to...
READ MOREBritish mining group Anglo American has sold shares of Anglo American Platinum, valued at 9.6 billion South African rand (approximately 500 million euros), as part of preparations for a complete demerger of the South African platinum producer. The sale, announced on Wednesday, involved 17.5 million shares, representing 6.6% of Anglo American Platinum’s issued capital, at...
READ MORELithium Ionic has announced that it has received preliminary approval for a $266 million loan guarantee from the Export-Import Bank of the United States (EXIM) to support the development of its flagship Bandeira lithium project in Minas Gerais, Brazil. The funding will cover 100% of the project’s initial capital cost, as outlined in a feasibility...
READ MOREPlatinum Group Metals, a Canadian company focused on developing the Waterberg Project in South Africa’s Limpopo province, has signed a memorandum of understanding (MoU) with Saudi Arabia to construct a platinum group metals (PGM) processing facility in the Kingdom. The MoU was signed with Ajlan & Bros Company for Mining and the Ministry of Investment...
READ MOREThe 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...
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