ACG’s Big Swing ACG Acquisition Co had a plan – buy a nickel and copper mine from Appian Capital for a cool billion. This wasn’t just any purchase. It was a gamble on metals vital for green energy. With heavy hitters like Glencore, Chrysler’s parent Stellantis, and Volkswagen’s battery branch, PowerCo, backing the play, it...
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Mining Cost Blowouts Intensify Inflationary Concerns Liontown Resources, an Adelaide-based mining company, projected the Kathleen Valley lithium mine to cost $300 million two years ago. Today, this estimate has doubled. With contractors raising their charges by 30% and a persistent labor shortage in Australia’s mining sector since the Covid-19 outbreak, wages have surged. Tony Ottaviano,...
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International Relations Amid Domestic Unrest Guinea, under the rule of Colonel Mamadi Doumbouya and his junta, is in the midst of intense international and domestic scrutiny. The junta, which seized power in 2021, has strategically maintained relations with global powers while simultaneously dealing with internal opposition with an iron hand. Chinese Investment and Economic Interests...
READ MOREContinuing Investigation The New South Wales Government’s inquiry into potential toxic pollution advances, setting its sights on the Cadia gold mine and other Central West mining sites. The probe is meticulously examining the impact of mining activities on public health, land, and water quality. Earlier Proceedings Previous hearings held at NSW Parliament House brought Cadia’s...
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Glencore’s Financing Decision: On Wednesday, September 27, Glencore, a major shareholder in Koniambo Nickel SAS (KNS) with a 49% stake, announced plans to withdraw financial support for the New Caledonian firm by the end of February 2024. This decision hinges on the absence of alternative financing solutions. A Nickel for Koniambo’s Thoughts: The majority stakeholder...
READ MOREIn a significant milestone for battery technology, the European MODALIS² (Modeling of Advanced LI Storage Systems) project, spearheaded by the IFPEN Transports Energie Carnot Institute, has concluded with remarkable achievements in the realm of modeling and simulating next-generation batteries. The torch is now passed to the HELENA project, poised to usher in the batteries of...
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Pan American Silver (PAAS) has successfully completed the previously announced divestment of its 56.25% stake in the MARA project in Argentina and its 92.3% ownership in the Morococha mine in Peru. These divestments align with Pan American’s strategic goal of optimizing its portfolio after acquiring Yamana Gold. The transactions will lead to a reduction in...
READ MORECheck out a recap of the most important mining news from the past week: China Increases Winged Metal Production Primary aluminum production in China demonstrated strong growth in August, increasing by 3.1% compared to the same month in 2022, reaching 3.6 million metric tons. In comparison to July 2023, it surged by 3.4%. This significant...
READ MOREIn a significant announcement, Alcoa Corporation (NYSE: AA) has revealed that William F. Oplinger will take the helm as President and Chief Executive Officer of the company, as well as become a member of its Board of Directors. Oplinger, 56, steps into his new role after serving as the Company’s Executive Vice President and Chief...
READ MOREBayrock Resources, backed by QX Resources, has announced an expansion of the mineral lease area for its promising Vuostok nickel-copper project located in Northern Sweden. QX Resources, led by Steve Promnitz, acquired a 39% stake in Bayrock Resources, an unlisted Australian company with a portfolio of nickel-copper-cobalt projects in Sweden, in July. The Vuostok project...
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See full Global Zinc Market Infographic here Zinc prices have been on a downward trend since January, following the sharp rises seen in 2022. This trend is not encouraging for zinc producers in Europe, who are already struggling with high electricity costs. In other regions of the world, the situation is different, but also ambiguous....
READ MORESaudi Arabian Mining Company (Ma’aden) and King Abdullah University of Science and Technology (KAUST) have reached an agreement to jointly invest in the startup known as Lithium Infinity (Lihytech). The innovative technology has the capability to extract lithium from unconventional sources, including seawater. It possesses the potential to translate KAUST’s research into commercial viability, thus...
READ MORECheck out a recap of the most important mining news from the past week: WPIC Raises Global Platinum Deficit Forecast to Record 1 Million Ounces in 2023 The deficit in the global platinum market will most likely top 1 million ounces this year due to strong demand growth from carmakers and other industries amid flat...
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Chris Griffith, a seasoned figure in the African mining sector with leadership roles at Amplats and Kumba Iron Ore, both subsidiaries of Anglo American, is set to take the reins at Vedanta Resources. He will assume the position of CEO for the base metals division and President of international operations, starting October 2. Griffith’s purview...
READ MOREFormer head of Rosaviation, Alexander Neradko, intends to take a position at Norilsk Nickel. This information was provided to TASS by a source close to the Ministry of Transport. “He will move to Norilsk Nickel, to the position of vice president. Two possible companies were discussed for his move – Aerodynamics and Norilsk Nickel, he...
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The International Energy Agency (IEA) reports that electrolyser production capacity hit nearly 11 gigawatts in the past year. Projections indicate global electrolysis capacity could hit nearly 3 GW by end-2023, a four-fold increase from 2022. Platinum-based PEM electrolysis constitutes around a third of this growth. Looking ahead, if all current projects materialize, global electrolysis capacity...
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In a significant move, the United States has expanded sanctions on Russia, marking the largest update this year. Key Russian figures, including Iskander Makhmudov and others, face new U.S. sanctions effective September 14. The machine building sector sees several entities added to the sanctions list, such as Transmashholding, AvtoVAZ, Sollers, and more. Further entities affected...
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London’s FTSE 100 soared over 2% led by mining giants Anglo-American, Rio Tinto, and Glencore, each gaining over 5% as commodity prices surged, notably iron ore and oil. The index closed at 7,673.08, marking its highest since July 31, with a 1.95% increase. Chris Beauchamp, chief market analyst at IG, noted the rally was spurred...
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Hydrogen gas, a clean and renewable alternative to fossil fuels, has the potential to revolutionize the energy industry. However, current industrial hydrogen production methods release carbon into the atmosphere, contributing to environmental pollution. A recent breakthrough involves a novel catalyst called carbon compound nickel-iron-molybdenum-phosphide anchored on nickel foam (NiFeMo-P-C). This innovative catalyst has successfully reduced...
READ MOREScientists at St. Petersburg State University (SPbSU) have devised a method to determine the age of the mineral pyrite based on helium concentration. This innovative technique promises faster identification of gold deposits, with a margin of error not exceeding 5%. The university’s press service shared this information. “We are the first in the world to...
READ MORERussian metals producer Nornickel said this week it was installing a video analytics system to monitor turbidity of water after ore processing at the Copper Smelter in Norilsk. Previously, water turbidity was monitored manually every four hours. From now on, real-time control will help employees respond faster to incidents, the company said. “There is nothing...
READ MOREIndonesia has formally requested trade negotiations with the United States to include critical minerals in a trade deal, enabling exports from the Southeast Asian nation to be eligible for coverage under the U.S. Inflation Reduction Act, according to a statement from the Indonesian Ministry. The request was presented during a meeting between Indonesian President Joko...
READ MOREThree Chinese entities are among the remaining contenders vying to acquire a Botswana copper mine potentially valued at around $2 billion, as disclosed by individuals familiar with the matter. Zijin Mining Group Co., MMG Ltd., and Aluminium Corp. of China, also known as Chinalco, have advanced to the second round of the bidding process for...
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Brazilian mining giant Vale has revealed its plans to commence the construction of “mega hubs” in Middle Eastern nations next year, aiming to produce low-carbon iron ore products tailored for the steel industry. The first of these hubs is anticipated to become operational by 2027. Last year, Vale had initially unveiled its intentions to establish...
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