South32 reported mixed production performance for the first quarter of its financial year, while maintaining its annual output guidance. The Perth-based mining company saw a rise in aluminium production but reported declines in other areas, including silver and lead. Aluminium output increased by 3.5% year-on-year to 298,000 tonnes in the three months ending September 30,...
READ MOREIndonesia has announced a joint venture with China’s Contemporary Amperex Technology (CATL) to invest $1.2 billion in battery production, furthering its ambitions to become a global hub for electric vehicles (EVs). The Chinese battery giant, through its subsidiary CBL International Development, has formed the venture with government-owned Indonesia Battery Corporation, according to Bloomberg. The project,...
READ MOREIn Monday’s Asian market session, spot gold experienced a sharp upward movement, breaking through $2,731 per ounce and touching a new all-time high of $2,731.43 per ounce. This surge is attributed to escalating geopolitical tensions and rising concerns regarding the U.S. elections, which have driven demand for safe-haven assets. The recent surge in gold prices...
READ MOREMonday’s commodity markets experienced significant movements across copper, crude oil, and gold, influenced by a range of geopolitical and economic factors. Copper contracts on the London Metal Exchange (LME), crude oil futures on NYMEX, and gold futures on COMEX all saw gains as disruptions in mining, escalating geopolitical tensions, and economic signals shaped investor sentiment....
READ MOREFleet Space Technologies has been engaged to accelerate drill targeting at Thomson’s belt-scale gold and copper project. This initiative involves a large-scale geophysical survey using ExoSphere real-time 3D Ambient Noise Tomography (ANT) imaging across a 5,500 km² area. The survey aims to gather extensive 3D subsurface data to identify belt-scale geological structures, including cross-arc formations...
READ MOREMorgan Stanley analysts Rahul Anand and Shannon Sinha believe that the recent disruption at BHP Billiton’s Olympic Dam copper operations is unlikely to have a significant impact on either the company or the wider market. In a report, the analysts estimated that while it remains unclear how long the mining and processing operations will be...
READ MOREThe Philippines’ nickel production is expected to rebound next year, driven by increased demand for the metal, better weather conditions, and a more favorable policy environment with the anticipated enactment of a rationalized mining fiscal regime. Dante Bravo, a member of the board of trustees of the Chamber of Mines of the Philippines and president...
READ MORESociété du Terril de Lubumbashi (STL), a 100% subsidiary of Générale des carrières et des mines (Gecamines), is set to export the first shipment of germanium concentrate processed entirely within the Democratic Republic of Congo. This milestone marks the first time germanium from the slag at the Lubumbashi Terril has been locally processed and exported,...
READ MOREThe Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
READ MOREIndonesia has taken a significant step towards becoming an electric vehicle (EV) manufacturing hub with the inauguration of its first lithium iron phosphate (LFP) factory earlier this month. However, analysts caution that the country’s heavy reliance on Chinese investment could pose challenges in marketing the cathode material to Western markets. Chinese companies, equipped with ample...
READ MOREIndonesia’s Energy Minister, Bahil Lahadalia, recently announced a potential extension of copper concentrate export licenses for Freeport Indonesia and Amman Mineral for up to two months. This decision reflects the government’s broader efforts to upgrade and transform the domestic copper industry. As a significant producer of copper resources, Indonesia’s copper concentrate exports play an important...
READ MOREVedanta-owned Hindustan Zinc reported a 35% increase in net profit for the July-September period, reaching ₹2,327 crore (approximately $280 million). This result exceeded the ₹2,256 crore ($272 million) predicted by a CNBC-TV18 poll, despite an exceptional loss of ₹83 crore ($10 million) during the quarter. The company’s revenue for the quarter rose by 22% year-on-year...
READ MORESibanye-Stillwater announced the suspension of operations at its Century mine in Queensland, Australia, due to regional bushfires that caused significant damage to surface piping infrastructure. The South African precious-metals miner reported extensive loss of feed and water lines connecting the hydro mine to the processing plant, along with other key service lines. The company has...
READ MOREMining major Vedanta Ltd announced on October 18 plans to invest ₹1 lakh crore (approximately $12 billion) in Odisha, marking the largest investment ever in the eastern state and creating 200,000 new jobs. The investment will be directed towards establishing a 6-million-ton-per-annum alumina refinery and a 3-million-ton aluminum plant, with a focus on producing green...
READ MOREThe Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
READ MOREThe U.S. dollar index reached an 11-week high on Wednesday, October 16, rising 0.29% to 103.52 as investors dismissed the possibility of a sharp rate cut by the Federal Reserve at its next policy meeting and considered the implications of a potential Donald Trump election victory. The benchmark 10-year U.S. bond yield closed at 4.018%,...
READ MOREGreenX Metals has released its Quarterly Activities Report for the period ending September 30, 2024, providing updates on a significant arbitration award, the Tannenberg Copper Project, and the Eleonore North Gold Project. GreenX reported a major win in international arbitration against the Republic of Poland under both the Australia-Poland Bilateral Investment Treaty (BIT) and the...
READ MOREBHP reported a strong start to the 2025 financial year, with production increases across its major commodities during the quarter ending September 30, 2024. The company saw copper production rise by 4%, driven by higher grades and recoveries at the Escondida mine in Chile. Iron ore production from Western Australia Iron Ore (WAIO) increased by...
READ MORECornish Lithium, a Westcountry mineral exploration company, has unveiled its lithium hydroxide demonstration plant at the Trelavour Hard Rock Project in St Dennis, Cornwall. The facility, the first of its kind in the UK, aims to produce battery-grade lithium hydroxide, which is essential for electric vehicles (EVs), grid-scale electricity storage, and rechargeable electronics. The launch...
READ MOREPhilex Mining, led by chairman Manuel Pangilinan, announced that it is exploring a potential nickel mining site in Pangasinan, as part of its efforts to capitalize on the increasing demand for nickel, driven by the global transition to clean energy. Philex president and CEO Eulalio Austin revealed that the company has a pending application for...
READ MORENickel ore producer Global Ferronickel Holdings (FNI) is in discussions with two foreign companies, one from Asia and the other from Europe, to set up a nickel processing facility in the Philippines, according to FNI President Dante R. Bravo. The talks were disclosed on the sidelines of a mining forum on Thursday. FNI operates nickel...
READ MOREBarrick Gold reported preliminary third-quarter production of 943,000 ounces of gold and 48,000 tonnes of copper, along with preliminary sales of 967,000 ounces of gold and 42,000 tonnes of copper. The company continues to anticipate a materially stronger fourth quarter, aiming to achieve its full-year gold and copper production guidance. The average market price for...
READ MOREVale announced on Wednesday, October 16, in a statement to the Brazilian Securities and Exchange Commission (CVM), that the power supply to the Onça Puma plant was re-established on Tuesday night, October 15, as anticipated. According to the mining company, ramp-up of operations has now begun, with normalization of activities expected over the next few...
READ MOREEramet, the mining group, announced that it will not meet its 2024 manganese and nickel production targets. This news caused a sharp decline in the company’s stock price, which fell by 14% on Wednesday, October 16, reaching €56.7 and making it the biggest decliner in the SBF 120 index. Eramet revised its manganese production forecast...
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