Nornickel 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...
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Project 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...
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A 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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