Nickel Industries is strengthening its position as a major global nickel resource holder through strategic acquisitions in Indonesia. In August 2024, the company acquired the Sampala project and a 51% stake in the Siduarsi project, amid a severe nickel ore shortage in Indonesia. This shortage has driven a 45% increase in local nickel prices since...
READ MOREThe price of alumina, a crucial raw material for aluminium production, has reached a record high of $707.59 per tonne. This surge is attributed to ongoing supply and production issues in major exporting countries like Guinea, Australia, and China, as reported by ZeroHedge. In Guinea, a leading supplier of bauxite, challenges in foreign trade and...
READ MOREThe U.S. Securities and Exchange Commission (SEC) is investigating Freeport-McMoRan Inc. regarding its alleged failure to disclose earthquake risks associated with its newly built $3.7 billion Manyar copper smelter in Indonesia. The investigation was prompted by an anonymous complaint from a former contractor who claimed the complex could be at risk of collapsing into the...
READ MOREChina has strengthened its dominance over critical minerals essential for high-tech and renewable energy industries amid escalating geopolitical competition. Western nations are striving to regain market share, while countries in the Global South seek to capitalize on rising demand. In 2023, Chinese companies invested $16 billion in foreign mines—the highest level in a decade, up...
READ MOREUzbekistan’s Enter Engineering has entered a $215 million cooperation agreement with FLSmidth Inc., a global supplier of mining equipment and services, to develop a new concentrating line at Almalyk Mining and Metallurgical Complex’s (Almalyk MMC) MOF-4 plant. The project aims to increase copper processing and production capacity at Almalyk MMC. The agreement includes the supply...
READ MOREThe lithium market has entered a period of declining prices due to weaker demand conditions and an oversupply of lithium carbonate in key regions. In October, seaborne lithium carbonate prices in Asia dropped by 3.8%, settling at around $10,000 per metric ton, according to S&P Global Commodity Insights. This drop is attributed to the seasonal...
READ MORESwedish company Granges has announced the acquisition of a plant for producing cast aluminium parts and rolled aluminium sheets in the Shandong province of China. The acquisition comes as part of a partnership agreement with Shandong Innovation Group (SIG) signed on May 31, 2024. The deal aims to strengthen Granges’ presence in the East Asian...
READ MOREThe Aluminium Association of India (AAI), the apex body representing the leading aluminium producers in India, has submitted a pre-budget representation to the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce. The submission emphasizes aluminium’s crucial role in India’s economic growth, particularly as the nation aims to achieve the...
READ MOREChinese battery manufacturer Gotion has announced plans to invest in a lithium battery project in Vietnam’s Vung Ang Economic Zone, located in Ha Tinh Province. Representatives from Gotion met with the Ha Tinh Economic Zone Management Authority in late October to discuss the development of this energy storage facility, which aims to optimize renewable energy...
READ MOREAccording to an October 23 report, despite the ongoing closure of nickel mines in Australia, raw nickel production in the Asian market has continued to rise into the fourth quarter of 2024, leading to weak pricing. Declining sales of power batteries in China and subdued demand for stainless steel have further contributed to a bearish...
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