The board of Russian aluminum major Rusal is considering a share buyback of RUB 15 billion ($155 million), representing approximately 2.8% of its share capital. The company argues that the buyback could be beneficial for shareholders. However, coal major Sual Partners, controlled by sanctioned Russian oligarch Viktor Vekselberg, intends to block the share buyback. Sual...
READ MORECanada’s Lithium Americas announced that General Motors (GM) will increase its planned investment in the Thacker Pass lithium project in Nevada by nearly 90%, to $625 million, giving the automaker an ownership stake in the mine that produces lithium—a critical component for electric vehicle (EV) batteries. The expanded investment follows a $2.26 billion preliminary commitment...
READ MOREThe only surprising aspect of Australian resources giant BHP’s July-September (Q1) production results was better-than-expected nickel production, according to Citi analysts. BHP’s currently shuttered nickel operations produced 19,600 tonnes, 35% more than Citi had expected. Other than that, the company stated that its performance was “broadly in line with expectations” and that “there are no...
READ MORERio Tinto announced its production results for January to September 2024, highlighting a 1% year-on-year increase in aluminum production, totaling 2.46 million tons. Bauxite production, the raw material for aluminum, increased by 9% to 4.32 million tons, with 30.31 million tons sold externally. However, alumina production declined by 5%, reaching 5.31 million tons. Recycled aluminum...
READ MORENippon Denkai announced on September 30, 2024, that it has entered into a seven-year technical support agreement with India’s Hindalco Industries, a manufacturer of copper cathodes and copper rod materials. The agreement, signed on September 28, is intended to support Hindalco as it begins producing copper foil for lithium-ion batteries in India. Under the agreement,...
READ MOREHunter Environment Lobby (HEL) is claiming a rare win against mining giant Glencore after the company announced it was withdrawing its HVO Optimisation Project proposal from assessment by the federal environment department. HEL spokesperson Jan Davis expressed satisfaction, stating, “We are delighted that HVO has walked away without a fight, but we know they’ll be...
READ MOREFollowing a meeting involving opposition members and representatives of the associations We Won’t Give Jadar Up and the Alliance of Serbia’s Environmental Organizations (SEOS), Ecological Uprising leader Aleksandar Cuta Jovanovic announced on the evening of October 14 his support for a “nationwide people’s uprising against miner Rio Tinto.” Jovanovic called on citizens to organize blockades...
READ MORECopper mining giant Antofagasta reported a fifteen percent increase in third-quarter production, while maintaining expectations for full-year output to reach the lower end of its guidance range. Copper production totaled 179,000 tonnes for the three months ending September 30, up 15.3% from the second quarter. Year-to-date output stands at 463,700 tonnes, down 1.2% compared to...
READ MOREResearchers at the Skolkovo Institute of Science and Technology (Skoltech) have developed and patented a high-capacity cathode material for lithium-ion batteries, featuring enhanced stability and an efficient production method. The material, based on layered transition metal oxides with increased nickel content, is expected to extend battery life by about 10% compared to commercially available alternatives....
READ MOREThe European aluminum industry needs urgent support to remain competitive in the face of high energy and raw material prices, according to Paul Voss, CEO of the European Aluminium Association, in an interview with S&P Global Commodity Insights. Voss highlighted that European aluminum producers face significantly higher electricity costs compared to their counterparts in other...
READ MOREOn October 15, President of Uzbekistan Shavkat Mirziyoyev reviewed the progress of the Yoshlik-1 deposit development in Almalyk, along with the construction of the third copper processing plant based on this deposit. The Almalyk Mining and Metallurgical Combine (AMMC) is a leader in the extraction of non-ferrous, rare, and precious metals. In 2023, the combine...
READ MOREIn the medium term, aluminum supply is expected to remain constrained, according to analysts at BofA Securities. This is largely due to China’s production cap of 45 million tonnes per year. The bank forecasts that global aluminum supply will increase at a rate of only 2.1% annually from 2023 to 2026, while demand is projected...
READ MOREResearchers have developed a solar-powered device capable of extracting lithium from brines while reducing greenhouse gas emissions, offering a potential alternative for more sustainable lithium production—an essential resource for rechargeable batteries. The floating device, created by a team led by Baoxia Mi from the University of California, Berkeley, and Jia Zhu from Nanjing University, takes...
READ MORERio Tinto reported aluminum production of 809,000 tonnes for the third quarter of 2024, marking a two percent decrease from the previous quarter and a two percent decline compared to the same quarter last year. Despite the decrease, the company is maintaining its full-year aluminum production guidance of 3.2 to 3.4 million tonnes. This information...
READ MOREThe Moscow Exchange will begin trading in platinum (PLT/RUB) and palladium (PLD/RUB) with payment in rubles starting October 21, 2024. These new trading instruments will be available to both professional market participants and private investors, according to a statement released by the exchange. These instruments were initially added to the system in a state of...
READ MORENupur Recyclers Limited (NRL) announced today its expansion into aluminum extrusion manufacturing through a $2.16 million (₹180 million) investment in its subsidiary, Nupur Extrusion Private Limited. The move aims to capitalize on the growing demand for recycled materials in the solar energy and construction sectors. Shares of Nupur Recyclers Limited (NRL) were trading at $1.64...
READ MORECopper prices fell on Tuesday as the dollar strengthened, and uncertainty loomed over China’s economic recovery following weak economic data and a lack of details regarding Beijing’s stimulus efforts. The three-month copper contract on the London Metal Exchange (LME) declined by 1.2%, trading at $9,547 per metric ton by 0722 GMT, marking its lowest point...
READ MOREFPX Nickel has successfully completed pilot-scale hydrometallurgical refinery testwork, producing battery-grade nickel sulphate from its Baptiste Nickel Project. This development represents a significant step forward in demonstrating the technical feasibility of refining awaruite concentrate at the Baptiste site. The testwork campaign was partially funded by a grant from Natural Resources Canada under the Government of...
READ MOREAurubis, a leading global provider of non-ferrous metals and one of the largest copper recyclers, and Coficab, a major player in the automotive industry’s wires and cables sector, have renewed a multi-year contract for the supply of copper wire rod. This renewed contract aims to expand sustainable volume growth in the automotive wire and cable...
READ MORESilver has delivered thirty-five percent returns in the first nine months of 2024, surpassing gold’s thirty percent. Motilal Oswal Financial Services remains optimistic about silver, suggesting it could continue to outperform gold in the near term. Navneet Damani, head of research for commodities and currencies, highlighted silver’s safe-haven appeal, which has driven its growth, along...
READ MOREAlcoa has announced a new agreement to supply up to sixteen and a half million metric tons of smelter-grade alumina to Aluminium Bahrain (Alba) over the next decade. The agreement, which will commence in 2026 and run through 2035, allows Alba to procure alumina primarily sourced from Western Australia, ensuring a consistent and reliable supply...
READ MORESouth Korea-based Posco Future M has announced the production of nickel, cobalt, and aluminium (NCA) cathode materials at its Pohang factory, three months ahead of schedule. On October 12, the company successfully manufactured high-nickel materials with a nickel content of 88%, which enhances energy density and output, making them ideal for high-performance electric vehicle batteries....
READ MOREFreeport Indonesia has suspended copper cathode production at its Manyar smelter following a fire that broke out on Monday, the company’s chief executive confirmed in an interview with Kompas TV on Tuesday. Chief Executive Tony Wenas stated that the duration of the production halt will depend on the outcome of an ongoing investigation into the...
READ MOREAccording to a recent update from the United States Geological Survey (USGS), U.S. domestic mine production of recoverable zinc in July 2024 amounted to 66,300 metric tons (t). Year-to-date mine production through July reached 442,000 t, up from 436,000 t during the same period in 2023. The average daily recoverable mine production in July was...
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