In recent developments, XL Axiata has expressed its intentions to enhance its offerings within the enterprise segment, particularly aiming for the business-to-business (B2B) market in the mining industry. The company’s Private Network service is already being utilized by companies like PT Vale Indonesia and PT Pamapersada Nusantara, with the latter benefiting from XL Axiata’s LTE...
READ MOREMike Fraser, the Chief Executive Officer of Chaarat Gold Holdings, has stepped down from his position effective immediately. Following the announcement, the company’s shares saw an 11% uptick, trading at 4.38 pence on Monday morning. Chaarat Gold Holdings, known for its operational mine in Armenia and additional assets in Kyrgyzstan, has decided to forgo Fraser’s...
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Cameroon’s extractive industry’s governance practices are currently being examined by the Extractive Industries Transparency Initiative (EITI) in a routine procedure referred to as “Itie validation”. However, the shadows cast by the 2021 Glencore scandal, exposing a massive global corruption web implicating two Cameroonian companies, has added more urgency to this examination. Background In 2021, EITI...
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Transitioning the Mines Amid declining platinum group metal (PGM) prices, Anglo American Platinum (Amplats) is revisiting its growth plans, especially its transition from open pit to underground mining at its Mogalakwena mine in Limpopo. New CEO Craig Miller remains optimistic about PGMs despite a significant drop in prices since the beginning of 2023. The company...
READ MOREThe CEO of multinational mining company Anglo American, Duncan Wanblad, expressed concerns over the stifling business environment in South Africa (SA), pointing out the country’s missed potential due to lack of incentives for mining exploration. During his address at the Joburg Indaba mining conference, Wanblad emphasized that SA’s undiscovered potential remains hampered by factors like...
READ MOREIn a surprising move, Alcoa has chosen to “temporarily” shut down the only operational department in the Aluminum factory of San Cibrao, Foundry. This decision was attributed to soaring energy costs and diminishing orders from customers. The abrupt move has drawn the ire of the plant’s committee, which has hastily arranged a plenary session tomorrow...
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Connecting New Depths: Nornickel has started mining operations at the Glubokaya mine within Skalisty, reaching an unprecedented depth of nearly 2 km. Glubokaya, it should be noted, translates as “Deep” from Russian. The achievement comes after successfully linking two independent vertical shafts: a ventilation shaft and a skip-cage shaft at -1943 meters, a first in...
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Analysis of Investments and Dividends: Russia’s Ministry of Finance has pointed out financial imbalances within the nation’s mining and metallurgical complex (MMC). Over the last decade, Russian MMC companies have generated an operating cash flow of 25 trillion rubles, yet reinvested only 8.5 trillion. This considerable disparity has led to discussions about financial practices in...
READ MOREBrussels: Energy Minister Tinne Van der Straeten has expressed an ambition for Belgium to carve out a niche in the global recycling of rare earth metals. These metals, integral to various technologies, have extraction processes that raise environmental concerns. The Role of Rare Earths: Rare earth elements, including metals like cobalt and lithium, are essential...
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...
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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 the exclusive interview with Sergey Saltykov, doctor of chemical sciences, catalyst lead, department for technological innovations, Nornickel, on Palladium: You may also be interested in more Palladium news!
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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....
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Adriatic Metals announced plans to initiate production at its Vares silver project in central Bosnia this November. This development marks the first new mine in Europe in over ten years. The project involves revitalizing a former silver mine that had remained dormant during the civil strife of the early 1990s. CEO Paul Cronin highlighted the...
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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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...
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 MOREHighland Gold Mining (HGM), led by entrepreneur Vladislav Sviblov, is gearing up to commence the development of a state-of-the-art mining plant at the Kun-Manie deposit in the Amur region of Russia by 2024. The decision to move forward with this ambitious project comes after Bering Metals, a company owned by Vladislav Sviblov, acquired the polymetallic...
READ MOREAccording to Lydian Armenia’s Executive Director, Hayk Aloyan, the company plans to start the exploitation of the Amulsar gold mine in 2024. Currently, engineering works are being carried out on the mine site, as the project experienced a five-year downtime. Aloyan stated that 70-80% of the work was already completed in 2018, and the company...
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Russian diversified metals producer Nornickel announced on Tuesday it had successfully tested gypsum — a byproduct of its flagship environmental project, the Sulfur Programme — for its use in making construction materials. To conduct lab tests, the miner joined forces with Russian producer of mortars and drywall materials Volma. Now, only formal environmental impact assessment...
READ MOREThe White House announced on Friday a new round of Russia sanctions, which included tariffs on imports of more than 100 commodities from Russia to the United States. “Today’s action will result in increased tariffs on more than 100 Russian metals, minerals, and chemical products worth approximately $2.8 billion to Russia. It will also significantly...
READ MOREAnglo-Australian diversified miner Rio Tinto announced on Tuesday it would supply carmaker BMW with responsibly sourced aluminum to help the latter lower its carbon footprint. The companies signed a Memorandum of Understanding (MoU), agreeing that the aluminum produced by Rio in Canada will be delivered to BMW’s production plant in Spartanburg, South Carolina, starting in...
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