Iran produced 264,617 tonnes of aluminium ingots in the first five months of the current Iranian calendar year (March 20-August 21), according to data released by the Iranian Mines and Mining Industries Development and Reconstruction Organization (IMIDRO). This marks a slight increase of 1% compared to the same period last year. The production increase was...
READ MORERussian aluminium giant Rusal is considering a share buyback valued at approximately 15 billion rubles ($156 million), following a review by the company’s board of directors. The board has begun a preliminary assessment of the potential buyback, noting that it could be favorable for shareholders overall. However, no final decision has been made, and the...
READ MOREIvanhoe Mines reported record production at its Kamoa-Kakula Copper Complex and Kipushi zinc mine in the Democratic Republic of Congo (DRC) for Q3 2024. Kamoa-Kakula produced 116,313 tonnes of copper in concentrate, while Kipushi produced 17,817 tonnes of zinc in concentrate during its ramp-up phase. Kamoa-Kakula’s Phase 3 concentrator, which began producing in June, is...
READ MOREFortune 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, controlled by sanctioned Russian aluminium tycoon Oleg Deripaska, 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...
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...
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