Fortune Minerals has hired Worley Canada Services to lead additional engineering work and prepare an updated feasibility study for the NICO Cobalt-Gold-Bismuth-Copper Project in Canada. The project includes a mine and concentrator in the Northwest Territories and a hydrometallurgical facility in Alberta. The updated study will assess current project costs, commodity prices, and recent optimizations,...
READ MOREThe ongoing hostile takeover bid by MBK Partners and Young Poong for Korea Zinc is raising concerns about potential disruptions to the global semiconductor supply chain. Korea Zinc, a key supplier of semiconductor-grade sulfuric acid, plays a crucial role in providing this essential material to South Korean semiconductor giants Samsung Electronics and SK Hynix. The...
READ MOREFrench energy company TotalEnergies is exploring the possibility of expanding into copper trading, according to a report by the Financial Times. This potential move would align with the growing demand for metals essential to the global energy transition, as copper plays a crucial role in renewable energy and electrification technologies. Rahim Azouni, senior vice president...
READ MOREDundee Precious Metals has released preliminary production figures for gold and copper for the third quarter and the nine months ending September 30, 2024. The company’s Chelopech and Ada Tepe mines are reported to be on track to meet their 2024 production guidance despite some operational challenges. David Rae, President and CEO of Dundee Precious...
READ MOREShanghai nickel prices jumped nearly 6% on Tuesday, reaching a three-month high as trading resumed following a week-long holiday. The most-traded November nickel contract on the Shanghai Futures Exchange (SHFE) rose 3.4% to 135,470 yuan ($19,304 per metric ton) after peaking at 138,800 yuan, the highest since July 9. Meanwhile, three-month nickel on the London...
READ MORERusal plans to start construction of the second stage of the Boguchansk aluminium smelter in 2025, according to Renaissance Capital. This expansion will double the smelter’s production capacity to 596,000 tonnes per year, with the start-up complexes being commissioned in stages until 2030. The total investment in the project will be updated by the end...
READ MORENickel, which accounted for 25% of Madagascar’s export value in 2022, faces a significant disruption following an incident at the Ambatovy nickel mine. Japan’s Sumitomo Corporation, which operates the mine, reported damage to the pipeline transporting ore to the processing plant, leading to a suspension of production. The halt at Madagascar’s largest nickel mine comes...
READ MOREAsset manager Coronation has changed its position on platinum group metals (PGMs), acquiring a 5.07% stake in Northam Platinum, just a year after labeling the sector a “value trap” due to declining prices and demand. Northam informed the market of the acquisition on Thursday, marking a significant shift for Coronation, which had previously recommended disinvesting...
READ MOREKorea Zinc, the world’s largest refined zinc producer, is embroiled in a contentious takeover battle between its founding families. The outcome could significantly impact South Korea’s role in the U.S.-led efforts to reduce reliance on China for essential metals and materials used in key industries such as construction and automotive manufacturing. The battle involves competing...
READ MOREThe Public Investment Corporation (PIC), Africa’s largest asset manager, has increased its stake in Sibanye-Stillwater, now holding over 15% of the diversified mining company. This move signals confidence in Sibanye-Stillwater’s long-term growth, particularly in light of its promising lithium project in Finland, which has recently received financial backing through a R10 billion green loan package....
READ MOREBoston-based Pure Lithium Corporation, a vertically integrated lithium metal battery technology company, has announced the acquisition of Dimien, a private U.S. company specializing in vanadium cathode materials. The acquisition includes all of Dimien’s intellectual property, manufacturing equipment, and its experienced team. This move is expected to expedite the development of Pure Lithium’s lithium metal vanadium...
READ MOREThe U.S. Department of Commerce has finalized its decision in an anti-dumping investigation regarding aluminium extruded profiles and related products imported from 14 countries. These countries include China, Colombia, Ecuador, India, Indonesia, Italy, Malaysia, Mexico, South Korea, Thailand, Taiwan, Turkey, the UAE, and Vietnam. The investigation has resulted in anti-dumping duties ranging from 2.02% to...
READ MOREPremier African Minerals Limited is considering various strategic options for its Zulu lithium plant, located at the Fort Rixon lithium mine in Zimbabwe’s Matabeleland South Province. These options include a potential full or partial sale, or bringing in an investment partner through a joint venture. The company reported an operating loss of $12.03 million for...
READ MOREVedanta announced that its aluminium production for the July-September period totaled 609,000 tonnes, marking a 3% increase compared to the same period last year. The company’s total aluminium production in the first half of the current financial year reached 1.21 million tonnes, also reflecting a 3% year-on-year growth. During the September quarter, alumina production from...
READ MOREBarrick Gold has initiated the expansion of its Lumwana copper mine in Zambia’s Kalumbila District, with an investment of USD 500 million earmarked for the project’s first phase. The expansion will focus on infrastructure upgrades, operational improvements, and the introduction of advanced mining technologies. The total cost of the project is expected to reach USD...
READ MOREAnglo American is undergoing significant restructuring to concentrate on copper, a key material for the energy transition, after rejecting a $49 billion takeover offer from BHP Group earlier this year. The company will unbundle its diamond, platinum, nickel, and coal assets, including De Beers, Brazilian nickel mines, and Australian coal operations, to streamline its portfolio....
READ MOREThe European Union’s shift towards clean energy and digital technologies is driving a rapid increase in the demand for critical raw materials, with forecasts showing exponential growth in the coming years. As the EU moves away from fossil fuels, materials such as lithium, cobalt, and nickel — essential for batteries, renewable energy technologies, and the...
READ MOREVale is considering opportunities to significantly increase its copper output, potentially tripling production, as it seeks to catch up with industry competitors, according to the company’s newly appointed president, Gustavo Pimenta. In a statement made on Wednesday, Pimenta highlighted that Vale currently produces 350,000 tonnes of copper annually, while the largest global producers generate around...
READ MORECunext Copper has extended its green and sustainable syndicated loan to nearly €35 million, funding the expansion of its facilities in Córdoba. The financing will support the installation of a new furnace for the production of anodes from secondary (scrap) copper, increasing output by an additional 40,000 tonnes per year. The loan, provided by the...
READ MOREScandium Canada has filed a provisional patent for its two aluminium-scandium alloys and their powders, designed specifically for additive manufacturing (3D printing) applications. The filing was made with the US Patent and Trademark Office under the title “Aluminium alloy powders for additive manufacturing. Methods of producing the same and uses thereof.” The alloys, developed in...
READ MOREHydro has announced the expansion and relocation of its Hydro Aluminum Technology Center (HATC) to Cassopolis, Michigan, a move that enhances the company’s research and development capabilities in aluminium products. The new facility aims to support the growing demand for low-carbon aluminium in the U.S., with a focus on key sectors such as automotive, transportation,...
READ MOREAluminium Duffel has officially commissioned its new €26 million milling installation, capable of processing up to 400,000 tonnes of aluminium annually. This investment marks a significant step for the company, allowing it to handle the milling of its aluminium slabs in-house, particularly those required by the automotive sector. Previously, some of the slabs were processed...
READ MOREGold prices have hit historic highs this year, driven by robust demand for the precious metal as investors seek safer assets amidst global economic uncertainty. The surge comes as geopolitical tensions, US Federal Reserve rate cuts, and increased gold purchases by central banks fuel demand. On September 25, spot gold prices reached a record $2,670...
READ MORERio Tinto has expressed interest in acquiring Arcadium Lithium, positioning itself to become one of the largest lithium producers globally. The announcement comes at a time when global lithium prices have seen a sharp decline, largely due to economic challenges in China and a decrease in demand for electric vehicles (EVs). In a statement issued...
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