Drugstore magnate Dirk Rossmann has once again expanded his stake in Aurubis, a leading copper manufacturer. His investment firm, Rossmann Beteiligungs GmbH, now controls around 20.7% of Aurubis, up from approximately 17%, according to a mandatory disclosure on Monday. This ongoing increase in ownership has fueled market speculation about a potential takeover. Rossmann, founder of...
READ MOREBase metals prices largely traded higher on Monday, buoyed by dip-buying from physical consumers. However, gains were limited by a strong dollar and sluggish demand from China, which capped any significant upward movement. Three-month copper on the London Metal Exchange (LME) inched up by 0.1% to $9,013.50 per metric ton by 0629 GMT. Aluminium rose...
READ MOREAfter a year of declining lithium prices due to a surplus market, some analysts are optimistic that the market will recover by 2030. For African nations, keeping development on schedule will be critical as they look to capitalize on the anticipated resurgence. Countries such as Zimbabwe, Nigeria, and others are positioning themselves to increase lithium...
READ MOREAluminum prices are anticipated to stay elevated throughout 2024 as a tightening market balance emerges, with global demand growth outpacing supply, according to BMI, a unit of Fitch Solutions Group. In a report released this week, BMI forecasts that aluminum demand will increase by 3.2% year-on-year in 2024, reaching 70.35 million tonnes, while supply growth...
READ MOREKent Masters, CEO of Albemarle, the world’s largest lithium producer, has expressed concerns about shifting critical mineral supply chains away from China in North America and Europe, calling it economically impractical under current market conditions. “We were trying to pivot to the West… the prices we see in the market don’t really allow us to...
READ MOREGold prices advanced on Monday after experiencing their steepest weekly drop since 2021, as the U.S. dollar eased and traders assessed the potential for Federal Reserve rate cuts given Donald Trump’s anticipated return to the White House next year. Spot gold climbed more than 1% to above $2,597 per ounce, following a loss of more...
READ MOREEQ Resources (EQR) has executed a binding heads of agreement (HoA) to acquire 100% of Tungsten Metals Group Limited (TMG) and its subsidiaries, along with George Chen’s interest in Asia Tungsten Products Co Ltd (ATC). The agreement will result in EQR obtaining full ownership of TMG Group, marking a significant step toward diversification and vertical...
READ MOREKorea Zinc, the world’s largest producer in the non-ferrous metals sector, has had its patented technology for processing secondary battery precursors officially recognized by the South Korean government as a national core technology. This designation means that the government will manage the technology with special oversight, particularly in matters of mergers and acquisitions involving foreign...
READ MOREThe Adani Group, one of India’s leading conglomerates, has announced plans to expand its footprint in the metals industry with a $5 billion investment over the next five years. The investment will fund aluminium and steel production ventures, as well as an expansion of copper production facilities in India. The Group’s move into metals production...
READ MOREBHP Group’s Australia President, Geraldine Slattery, has warned that the nation can no longer rely solely on its traditional mining export markets and is unprepared to face a new era of lower-cost competitors. Speaking in Brisbane on Monday, Slattery highlighted that the boom in demand from China’s industrialization has now moved past its aggressive growth...
READ MOREPlans to transform aluminium production in the UK received a significant boost with a £3.4 million grant awarded to EMR by the Advanced Propulsion Centre (APC). The grant will support a collaborative research project aimed at creating a world-leading metals processing facility, focusing on producing aluminium extrusion billet with reduced carbon content. The proposed facility...
READ MOREPlans for the extraction of a key raw material used in electric vehicle production are under threat in Serbia as environmental protests grow. The Jadar Valley project, aimed at extracting 58,000 tons of lithium annually, has faced increasing opposition from local communities who fear environmental damage. Mining giant Rio Tinto is facing delays that could...
READ MOREOn Thursday, Critical Metals provided an update on the Wolfsberg Lithium Project, located in Austria. Tony Sage, CEO and Executive Chairman of Critical Metals Corp, highlighted significant progress not only with the Wolfsberg Project but also with the company’s rare earth asset in Greenland. Sage emphasized the ongoing development plans for the Wolfsberg Project and...
READ MORENew capacity for converting bauxite into alumina is expected to come online next year, potentially easing the current tight supplies and halting the record-breaking price rally of this key material used in aluminium production. Higher alumina prices outside China have turned the country, the world’s largest producer and consumer, into a net exporter this year...
READ MOREOmani authorities are advancing plans to establish an Integrated Economic Cluster for Aluminium Industries in the Wilayat of Suhar, a region already at the heart of substantial aluminium-related investments. The Oman Vision 2040 Implementation Follow-Up Unit is spearheading this initiative, collaborating with various government ministries and agencies to move the project forward. The planned cluster...
READ MOREBoliden is currently in advanced negotiations to acquire Lundin Mining’s Zinkgruvan mine in Sweden and Neves-Corvo mine in Portugal, according to information obtained by Bloomberg News. The acquisition would allow Boliden to strengthen its position as one of the largest zinc producers in Europe. These two mines represent some of Lundin Mining’s oldest assets, which...
READ MOREA new lithium battery recycling plant in southern Israel aims to solve the environmental problem posed by electric vehicle batteries packed with toxic materials. The facility, known as Batte-Re, is Israel’s first electric vehicle battery recycling operation and has been established in Rotem Industrial Park near Dimona. Founded two years ago by four entrepreneurs, Batte-Re...
READ MORETirex Resources, a Canadian company based in Vancouver, has concluded its exploration activities in Albania and informed the government of plans to convert several exploration concessions into mining concessions. The company aims to begin production soon in six deposits in the Mirdita region, focusing on copper, gold, and zinc extraction. The volcanic deposits in the...
READ MOREBHP Group Ltd. Chief Executive Officer Mike Henry emphasized that soaring global demand for copper will necessitate an investment of $250 billion over the next decade. This major capital requirement is expected to drive further mergers and consolidations in the mining industry, as companies seek to pool resources and expertise. “New deposits in certain key...
READ MOREDue to the potential increase in U.S. trade tariffs following the incoming Trump administration and weaker-than-expected stimulus measures from China, demand for copper is likely to come under significant pressure. In response, Citigroup has lowered its short-term copper price forecast by 11%, anticipating that prices will fall from a previous forecast of $9,500 per ton...
READ MOREPort Said for Engineering Works, a subsidiary of the Suez Canal Authority, has announced plans to construct an $80 million aluminum foil factory in the Suez Canal Economic Zone (SCZone) in partnership with an undisclosed Chinese investor, according to Al Borsa. The feasibility studies for the project have recently been approved, and construction is expected...
READ MOREKlockner & Co has announced plans to construct a new aluminum flat-rolled processing facility on the campus of Aluminum Dynamics LLC in Columbus. The new facility is intended to expand Klockner’s product and service portfolio, with ramp-up expected in the fourth quarter of 2026. This investment aims to enhance the company’s growth in both the...
READ MOREIB2, a company in the aluminium industry, has received a €100 million investment from a group of financial and industrial investors to further develop its sustainable alumina technology. The funding will be used to enhance IB2’s process for producing more environmentally friendly alumina. The investment, obtained over the past 12 months, includes support from Glencore,...
READ MOREChina’s aluminium production in October 2024 rose year-on-year as a positive demand outlook and higher aluminium prices offset rising raw material costs. Official data from the National Bureau of Statistics showed that China, the world’s largest aluminium producer, produced 3.72 million metric tons of primary aluminium last month, marking a 1.6% increase from October last...
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