MMG 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...
READ MORERussian oligarch Roman Trotsenko “escapes” from Zhelezny Kryazh Famous Russian oligarch Roman Trotsenko has ceased to be the controlling shareholder of Siberian Goldfields, which owns the Zhelezny Kryazh gold mine. His son Gleb Trotsenko has now replaced him as the controlling shareholder. The Zhelezny Kryazh deposit is located in Siberia and is a unique property,...
READ MORENornickel shows interesting results Nornickel published the results of its production for the first nine months of this year, and they proved somewhat contradictory. On the one hand, nickel output from January to September 2023 decreased by 9% to 145,271 thousand tons, while copper increased by 4% to 303,990 thousand tons. The production of palladium,...
READ MORERusal eyes closure of three plants Rusal is considering shutting down three aluminium smelters in Volgograd, Novokuznetsk and Kandalaksha. This would result in it losing 0.5 million tons of its current annual aluminium production of 3.8 million tons. Rusal’s financial condition is under pressure due to a number of factors. First, aluminium prices at the...
READ MORENornickel expects copper market growth In the remaining months of 2023 and into next year, Norilsk Nickel forecasts steady growth in the global copper market at a rate of 2–3%.The company’s forecast emphasizes the revival of economic activity in China, which is the main producer of red metal on the planet, while also being its...
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Rusal is experiencing significant hurdles in sustaining a steady presence in its export markets, confronting unparalleled constraints including upcoming trade shifts, as highlighted in their recent communications with the press. Unprecedented Pressures Impact Operations The aluminum titan is battling an increasingly restricted business environment, with recent reports revealing that Novelis Europe, a key figure in...
READ MOREProject Overview Drilling Details Statement from Encounter Resources Will Robinson, Managing Director of Encounter Resources, highlighted the immense potential of the Greater McArthur Superbasin in the NT. He sees it as a significant global avenue for unearthing substantial sediment-hosted copper and zinc deposits beneath shallow cover. Robinson further underscored the presence of the Century Zinc...
READ MOREA support package for workers at Tara Mines will continue until the new year. This decision followed discussions between management and worker unions. The mine, located in Co Meath, halted operations in mid-July, leading to the lay off of 650 workers. The suspension was attributed to several reasons, including declining zinc prices, inflation, and rising...
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Australia’s Poseidon Nickel has kicked off another exploration drilling at Lake Johnston following encouraging results from an earlier effort. Earlier in the year, the Lake Johnston reconnaissance drilling spanned over a 14km section of the Western Ultramafic Unit (WUU) and yielded promising outcomes, including indicators for potential nickel sulphides. CEO Craig Jones conveyed his optimism...
READ MOREDundee Precious Metals Inc. (TSX: DPM) shared its preliminary production outcomes for the period ending September 30, 2023. Key highlights include Ada Tepe mine’s record-breaking achievement, having produced a substantial 33.8 K oz. of gold. This significant output aligns well with the company’s optimistic projections for the mine. Meanwhile, the Chelopech mine maintained its steady...
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CEO Transition at Gold Fields Following the departure of Chris Griffith in late 2022, Gold Fields had Martin Preece acting as an interim CEO. Now, Gold Fields, South Africa’s preeminent gold producer and the largest in Africa, has announced a new CEO. Starting January 1, 2024, former South32 executive Mike Fraser will helm the company....
READ MOREIn recent developments, XL Axiata has expressed its intentions to enhance its offerings within the enterprise segment, particularly aiming for the business-to-business (B2B) market in the mining industry. The company’s Private Network service is already being utilized by companies like PT Vale Indonesia and PT Pamapersada Nusantara, with the latter benefiting from XL Axiata’s LTE...
READ MOREAurubis prepares for lower copper demand Next year we should expect a lower level of demand for copper. The metal is used in various industries and construction. This is supported by the fact that the European metallurgical giant Aurubis notified its customers that it will set a $228 per tonne premium for copper in 2024....
READ MOREMike Fraser, the Chief Executive Officer of Chaarat Gold Holdings, has stepped down from his position effective immediately. Following the announcement, the company’s shares saw an 11% uptick, trading at 4.38 pence on Monday morning. Chaarat Gold Holdings, known for its operational mine in Armenia and additional assets in Kyrgyzstan, has decided to forgo Fraser’s...
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