Eneos Holdings Announces Partial Share Transfer in Pan Pacific Copper and Los Pelambres Copper Mine Interest
Eneos Holdings Announces Significant Share and Interest Transfers Eneos Holdings, Inc. has made a crucial decision regarding its subsidiary, JX Metals Corporation, and its partnership with Marubeni Corporation. JX Metals Corporation will transfer 20% of its shares in Pan Pacific Copper Co., Ltd., and a 3.27% interest in the Los Pelambres Copper Mine to Marubeni Corporation. This move is expected...
North East Companies Partner to Launch UK’s First Commercial-Scale Lithium Plant
Breakthrough in Domestic Lithium Supply Northern Lithium and Darlington-based Sheers have joined forces with Evove from the North West, marking a significant advancement in the UK’s green energy sector. This collaboration aims to establish the nation’s first commercial-scale Direct Lithium Extraction (DLE) plant in County Durham. Achieving Industrial-Scale Lithium Production Following successful battery-grade lithium production at Evove’s UK DLE Test...
New Caledonia Government Develops Safeguard Plan for Nickel Factories Amid Market Challenges
Crisis in Nickel Industry Prompts Action The New Caledonian government has recognized the urgent need to address the challenges faced by its nickel industry. Prony Resources, SLN, and KNS factories have struggled with decreased competitiveness due to global market changes, particularly influenced by Indonesian policy shifts and Chinese investment dominance. Factors Impacting the Industry The region’s nickel factories have been...
Antofagasta Approves Development of Centinela Second Concentrator Project
Antofagasta Commences Centinela Expansion Antofagasta has announced the approval of the construction of the Centinela Second Concentrator Project. The project, integral to the company’s growth strategy, is set to begin critical path works immediately, with full-scale construction slated for Q1 2024 after finalizing project finance documents. Project’s Key Benefits The project is expected to significantly enhance Centinela’s production capacity, adding...
Copper Prices Surge Amid Global Supply Squeeze
Copper Emerges as Top Industrial Metal Copper is set to outshine other industrial metals this year, thanks to a series of supply disruptions. Currently priced at $8,600 per ton, copper prices have witnessed a 2.5% increase this year, driven by constrained supply in the global market. Factors Contributing to Supply Tightness The closure of a major copper mine in Panama,...
Vale Indonesia Share Divestment Negotiations: A Balancing Act
Ongoing Negotiations for Vale Share Divestment The Indonesian Government, through Minister of State-Owned Enterprises (SOEs) Erick Thohir, has revealed ongoing negotiations regarding the divestment of a 14 percent stake in PT Vale Indonesia Tbk. This divestment, crucial for the extension of Vale Indonesia’s contract expiring on December 28, 2025, is in the hands of mining SOE holding MIND ID. Target...
Hancock Prospecting and SQM Jointly Venture for Azure Minerals Takeover
Hancock and SQM Partner for $1.7bn Azure Bid Gina Rinehart’s Hancock Prospecting collaborates with global lithium giant SQM in a $1.7 billion joint takeover of Azure Minerals. The move signifies Hancock’s entry into the Western Australian lithium sector, partnering with SQM through SH Mining, a company shared equally between Hancock’s Hanrine Future Metals and SQM. Strategic Board Appointments The deal...
Aurubis Records Solid Financial Performance Despite Setbacks
Fiscal Year Overview Aurubis, a global leader in non-ferrous metals and a major copper recycler, reported operating earnings before taxes (EBT) of €349 million for the fiscal year 2022/23 ending September 30. This result is lower compared to the previous year’s €532 million but remains significant, ranking as the third-best in the company’s history. The performance reflects strong market demand...
LS Cable Innovates Battery Technology with Copper Flake-Based Foil
A Breakthrough in Battery Material South Korea’s LS Cable has made a significant advancement in battery technology, developing a new copper foil material designed for high-performance batteries used in electric vehicles (EVs). This innovative material is set apart from traditional copper wire-based foils, as it incorporates copper flakes, including scrap copper from cable and wire production processes. Copper Foils: Key...
Copper Prices Rise Amid Supply Concerns and Inventory Declines
Current Market Dynamics Copper prices experienced an uptick, climbing 0.6% to $8,537 per metric ton, as the market reacts to emerging supply concerns and declining inventories. This month, copper prices reached a 4-1/2-month high of $8,640 a ton, although trading volumes remained subdued. Factors Influencing Copper Market Aluminium Market Impact Overall Market Sentiment
Teck Resources CEO Plans Prudent Expansion in Copper Mining Sector
Strategic Approach Post Coal Mines Sale Teck Resources Ltd., led by CEO Jonathan Price, is poised to have a cash influx of US$9-billion from the sale of its coal mines in British Columbia. With this substantial amount, Teck, Canada’s largest mining company, faces numerous opportunities for expansion, particularly in copper mining. Expansion Plans and Investor Communication The company plans to...
Vale Boosts Investment to US$6.5 Billion by 2024 Amidst Rising Demand for Transition Metals
Significant Increase in Investment for Minerals Vale, the global iron ore giant, plans a substantial investment of $6.5 billion in 2024, a notable increase from its 2023 investment of $6 billion. BNAmericas reports that of the total 2024 investment, $2.5-3 billion will be specifically allocated to minerals crucial for energy transition technologies, such as copper and nickel. Focus on Energy...
BatX Energies Secures USD 5 Million in Early Stage Funding for Battery Recycling
Funding Round Led by Zephyr Peacock New Delhi-based BatX Energies, a startup specializing in battery recycling, announced the successful raising of USD 5 million (over Rs 40 crore) in an early-stage funding round. The round was led by Zephyr Peacock, a notable investment firm. Participation from Other Investors The funding round also saw participation from Lets Venture, JITO Angel Network,...
EU Temporarily Suspends Retaliatory Tariffs on US Imports
Extension of Tariff Suspension The European Union has decided to extend the suspension of tariffs imposed on U.S. imports as a countermeasure to the U.S. tariffs on steel and aluminum from the EU. This suspension will be in effect until the end of March 2025. Background of the Trade Dispute The decision, announced by the EU and reported by Reuters,...
Nornickel Joins RNK-Holding in Stainless Steel Plant Project in Russia
Strategic Collaboration for Stainless Steel Production Nornickel, the Russian mining and metals giant, has announced its participation in a project led by RNK-Holding to build a plant for stainless steel products in Russia. This collaboration marks a significant step for Nornickel in expanding its domestic market presence. Project Details and Production Goals The facility, located in the Volgograd region, will...
Global Aluminum Prices Hit Lowest Mark Since March 2021 Amidst Sanctions and Economic Pressures
Significant Drop in Global Aluminum Prices Recent reports indicate that global aluminum prices have plummeted to their lowest level since March 2021. This significant decrease is causing substantial impacts on the aluminum market worldwide. Impact of Sanctions on Russia Compounding the issue, the United States and the European Union have imposed near-total bans on Russian aluminum exports. With potential further...
Silver One Resources Expands Land at Phoenix Silver Project in Arizona to Explore Copper and Silver Deposits
Expansion of Land Holdings Silver One Resources, a prominent mining company, announced the acquisition of additional claims adjacent to their Phoenix Silver Project near Globe, Arizona. This expansion is aimed at covering regional magnetic anomalies in the southern part of the property, potentially indicative of porphyry copper systems. Strategic Location in a Prolific Copper Belt The newly staked area is...
Si6 Metals Completes Drilling in Botswana with Promising Nickel-Copper Findings
Successful Drilling Program in Botswana Si6 Metals has concluded its first-phase drilling program across its Botswana projects, yielding optimistic results for its precious and base metals prospects. The program, covering 5690 meters, included both reverse-circulation and diamond drilling across the company’s high-grade copper-silver projects at Dibete and Airstrip, as well as the Maibele North nickel-copper-platinum group elements (PGE) site. Significant...
Novelis Submits Patent Application for Innovative Metal Joiner System
Filing of Patent Application USA-based Novelis has officially filed a patent application for a novel metal joiner system, along with associated methods and products. The patent application, bearing number 202317000543 A, was filed on January 4, 2023. Inventors and Patent Details The team of inventors includes Lin Dechao, Zhu Dewei, Son Changook, Haines Kyle, Nazro Louis Mitchell, Keim Doug, Eddie...
Kings Aluminium Begins Construction of $204 Million Plant in Abu Dhabi
Groundbreaking of New Manufacturing and Recycling Facility Kings Aluminium Industries has commenced construction of its new manufacturing and recycling plant in Khalifa Economic Zones Abu Dhabi (Kezad), with a total investment of AED 750 million ($204 million). The facility, spanning 100,000 sq m, has a 50-year lease agreement with Kezad. Strategic Collaboration and Sustainability Focus The plant will source raw...
