Nornickel Initiates Sulfur Reduction Project in Norilsk
New Environmental Efforts Underway Nornickel has introduced a Sulfur Program at the Nadezhda Smelter in Norilsk, aiming to significantly cut sulfur dioxide emissions. The move marks a concerted effort to tackle environmental concerns in the area. The undertaking, which was years in the making, relied heavily on the Northern Sea Route for the transport of necessary resources, with icebreakers facilitating...
Constellium Faces Decline in Q3 Revenue Amid Market Challenges
France-based Constellium has reported a downturn in its financial performance for the third quarter of 2023, underscoring the challenges it faces in a tumultuous market. According to its latest earnings report, the aluminum products manufacturer saw a 15% decrease in revenue, with earnings down to 1.7 billion euros. This decline coincided with a 5% drop in shipments compared to the...
MMG’s Metals Production Sees Mixed Results in 3Q; Updates Full-Year Guidance
Diverse Changes in Quarterly Outputs In the third quarter, MMG reported varied outcomes across its production spectrum. Copper cathode production saw a significant 16% year-on-year decrease, settling at 12,220 tons. Zinc wasn’t spared either, with output dipping by 3% compared to the same period last year, recorded at 59,229 tons. Conversely, lead production bucked the trend, marking a 6% increase...
Fresnillo Reports Third Quarter 2023 Production Results and Safety Incidents
Production Highlights: – Silver: Q3 attributable silver production reached 14.1 moz, a 5.1% decrease from Q2 2023, primarily due to lower ore grade and processed volume at multiple sites. However, production rose by 3.8% compared to Q3 2022, thanks to the Juanicipio mine’s ramp-up. – Gold: Attributable gold production was 132.6 koz, down by 13.0% from the previous quarter and...
Wheaton Precious Metals Acquires New Silver Stream on Mineral Park Mine
Vancouver, British Columbia – Wheaton Precious Metals Corp. announces a new agreement through its subsidiary, Wheaton Precious Metals International., with Waterton Copper. The agreement pertains to a silver stream on the Mineral Park Mine in Arizona, USA. Randy Smallwood, Wheaton’s President and CEO, comments on the acquisition, highlighting the company’s history with Mineral Park and the operational optimizations by Waterton...
Freeport Seeks Extension for Copper Concentrate Export Relaxation Permit
Freeport Indonesia is in preliminary talks with the government to secure an extension for its copper concentrate export relaxation permit, aiming to continue exports beyond the current deadline. Tony Wenas, CEO of Freeport Indonesia, mentioned that while there has been no formal request submitted to the Ministry of Energy and Mineral Resources, initial discussions about the extension are underway. The...
Amplats Faces 9% Dip in Q3 Refined PGM Output, Holds Steady on Future Targets
Anglo American Platinum, a leading force in the global platinum market, announced a 9% drop in its refined platinum group metals (PGMs) production for the third quarter, attributing the downturn to water supply disruptions at its processing units and a dip in concentrate production. Operational Challenges and Market Dynamics During the third quarter, Amplats produced 909,700 ounces of refined PGMs,...
L&F Nears Major Cathode Materials Supply Agreement with Northvolt
L&F, a South Korean battery materials firm, is close to finalizing a 5-year contract with Northvolt, a European battery company, to supply cathode materials. The deal, worth approximately $17.6 billion, represents a significant step for L&F in the battery materials market. The contract came into view after Northvolt certified L&F’s prismatic battery cathode materials, clearing the way for their use...
Norsk Hydro Reports Q3 Loss Amid Market Challenges
Norsk Hydro, a key player in the aluminium and renewable energy market, recorded a third-quarter net loss of 358 million Norwegian Kroner ($32.58 million) or 0.18 Kroner per share, a sharp contrast to the net profit of 6.85 billion Kroner ($623.35 million) or 3.34 Kroner per share from the same period last year. Market Pressures and Strategic Shifts Several factors...
Aterian and Rio Tinto Activate Lithium Joint-Venture in Rwanda
Aterian has officially announced the commencement of a unique joint venture with industry behemoth Rio Tinto, focused on lithium exploration in Rwanda. The collaboration became actionable after Aterian successfully fulfilled the prerequisite conditions. As of Tuesday, the initiation of this enterprise marks a significant step in Africa-focused mineral endeavors. Since August, Rio Tinto has laid the groundwork for its operational...
Rusal Secures 30% of Chinese Alumina Refinery
In a strategic expansion move, Rusal has finalized an agreement to acquire a 30% share in a Chinese alumina refinery owned by HWNM, marking a significant investment of 1.911 billion yuan (around $267 million). The deal, inked on October 23, involves an alumina plant situated in Hebei province, noted for a substantial annual throughput of 4.8 million tons. This acquisition...
Talum Embarks on Green Transformation with Smart Factory Initiative
Investing in a Sustainable Future Aluminum producer Talum is set to establish a smart factory dedicated to slugs and discs, signaling a major step in its commitment to environmental sustainability. This initiative, part of the Kidričevo-based firm’s broader green transformation strategy, involves an investment of EUR 38 million. Financial Backing by NKBM The NKBM bank has announced its intention to...
KGHM Reports Slight Dip in Copper Sales in September 2023
Marginal Shift in Copper Dynamics KGHM, a major player in the copper industry, experienced a slight 1% drop in its copper sales in September, descending to 60.9k tons. This reduction parallels a minimal decline in production, with payable copper falling from 59.5k tons to 59.4k tons compared to the same period last year, as disclosed in their recent market announcement....
Nornickel Reports Production Results in Nine Months of 2023
Nickel Production Experiences Significant Shifts In the third quarter of 2023, Nornickel saw a 21% surge in nickel output, hitting 54 kt, a substantial rise credited to the augmented supply of high-grade matte from its Polar Division. This stockpile accumulated during the previous quarter’s inter-navigation pause. However, the first nine months of 2023 witnessed a 9% dip in production compared...
Electra Advances Construction of Unique North American Cobalt Sulfate Refinery
Reception of Critical Equipment Amid Delays Electra Battery Materials Corporation today shared updates on its cobalt sulfate refinery construction, highlighting its uniqueness in North America for addressing electric vehicle battery supply chain demands. Recently, Electra received US$5 million in essential equipment, including pressure vessels and tanks, vital for its solvent extraction plant and crystallizer circuit completion. These components, initially expected...
Kuzbass Calls for Aluminum Industry Exemption from “Exchange Rate” Duties
In response to the substantial financial strain on Rusal, a major player in the aluminum industry, Kuzbass’s leadership has advocated for an exemption from the new “exchange rate” export duties. These duties, impactful for various sectors, tie rates to the ruble’s value, potentially generating approximately Rb 50bn monthly for the state budget between 2023-2024. Governor Advocates for Financial Sustainability Sergey...
British Columbia Gears Up to Exploit Its Mineral Wealth Amid Green Energy Transition
British Columbia is setting the stage to maximize its vast mineral resources, key in the global pivot toward green energy. Central to this plan is nickel, an element vital for low-carbon technologies, placing B.C.-based FPX Nickel Corp. in a pivotal role, potentially leading the charge to open the province’s first major nickel mining operation. Nickel: Driving Force in the Energy...
Weekly Metals News Digest (Oct 16-20)
Rusal eyes closure of three plants Rusal is considering shutting down three aluminium smelters in Volgograd, Novokuznetsk and Kandalaksha. This would result in it losing 0.5 million tons of its current annual aluminium production of 3.8 million tons. Rusal’s financial condition is under pressure due to a number of factors. First, aluminium prices at the London Metal Exchange are falling:...
Amendment in Lion Copper and Gold’s Work Agreement Extends Stage 2 Term
Lion Copper and Gold Corp. has revised the Stage 2 Program of Work under its Earn-in Agreement with Nuton LLC, a venture associated with Rio Tinto. The modification involves a 9-month extension of Stage 2, pushing the completion deadline to September 12, 2024. This adjustment is intended to provide adequate time for the completion of a comprehensive pre-feasibility study, which...
Global Aluminum Output Rises in September, IAI Reports
Incremental Growth in Aluminum Production The International Aluminum Institute (IAI) has disclosed that daily global primary aluminum output rose to an average of 195,700 tons in September 2023. This figure notches a slight increase from the 195,200 tons per day reported in the preceding month and is significantly higher than the 190,500 tons recorded in September of the previous year....
