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    US slaps new tariffs on over 100 Russian commodities, including aluminum

    US slaps new tariffs on over 100 Russian commodities, including aluminum

    The 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 increase costs for aluminum that...

    Russian scientists develop multilayer material for parts’ impact resistance

    Russian scientists develop multilayer material for parts’ impact resistance

    Scientists from the Institute of Laser and Welding Technologies of the St. Petersburg State Marine Technical University (SMTU, or ‘Korabelka’) developed a multilayer material using direct laser growth, which will allow parts to withstand dynamic loads longer. The study was published in the International Journal of Advanced Manufacturing Technology. Why it matters The new material will be useful in the...

    US scientists develop 3D-printed 6-metal superalloy to improve turbines’ efficiency

    US scientists develop 3D-printed 6-metal superalloy to improve turbines’ efficiency

    Scientists at the US-based Sandia National Laboratory, in collaboration with the Ames National Laboratory, the Iowa State University, and Bruker Corp. used a 3D printer to create a high-performance metal superalloy with an unusual composition that makes it stronger and lighter than modern materials currently used in gas turbine equipment, the Sandia lab announced. Experiments showed that a new superalloy...

    Rio Tinto agrees to supply BMW with low-carbon aluminum

    Rio Tinto agrees to supply BMW with low-carbon aluminum

    Anglo-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 2024. The companies also agreed...

    Teck Resources spins off steelmaking coal unit to focus on energy transition metals, takes new name

    Teck Resources spins off steelmaking coal unit to focus on energy transition metals, takes new name

    Canadian diversified miner Teck Resources announced on Tuesday it would spin off its steelmaking coal business into a new company, called Elk Valley Resources (EVR), to focus on energy transition metals. The remaining business will take a new name, Teck Metals, and retain steelmaking coal cash flows for the transition period. The deal will be structured as EVR’s spin-off. Teck...

    Aluminium, copper, nickel, lithium: highlights of 2022 and forecasts for 2023

    Aluminium, copper, nickel, lithium: highlights of 2022 and forecasts for 2023

    Forecasts for 2023 – full infographics available here. Aluminium: For the aluminium sector, 2022 was a year defined by pessimism. The price of natural gas, coal and electricity in Europe, North America and Asia was relatively high and refused to come down. The European Union in particular suffered as a result, so it was no surprise when in January the...

    Glencore puts 23% stake in Peruvian zinc, silver miner Volcan for sale

    Glencore puts 23% stake in Peruvian zinc, silver miner Volcan for sale

    Swiss miner and trader Glencore said in its annual report it had put up for sale its 23% stake in Peruvian zinc and silver miner Volcan. “In Q4 2022, Glencore commenced a process exploring the possible disposal of its 23.3% economic interest in Volcan. As a result, the carrying amounts of Volcan assets and liabilities as at 31 December 2022...

    Russia’s talks with Bolivia on lithium advance even despite China’s tender win, ambassador says

    Russia’s talks with Bolivia on lithium advance even despite China’s tender win, ambassador says

    Russia continues negotiations on the development of lithium deposits in Bolivia, they are at the final stage, even despite the Chinese conglomerate’s earlier win in the tender, Russia’s ambassador in La Paz, Mikhail Ledenev, said in an interview with RIA Novosti. “Rosatom’s subsidiary Uranium One Group is actively involved in the development of the lithium industry in Bolivia, negotiations are...

    Freeport-McMoran suspends world’s second-largest copper mine in Indonesia after heavy rains

    Freeport-McMoran suspends world’s second-largest copper mine in Indonesia after heavy rains

    Mining company Freeport-McMoran announced suspension of operations at Grasberg, the world’s second-largest copper mine in Indonesia, after heavy rainfalls caused landslides in the area. “PT Freeport Indonesia’s (PT-FI) Grasberg operations have been temporarily disrupted because of significant rainfall and landslides in the area of its milling operations in Papua, Indonesia,” the company said. Infrastructure near the company’s milling complex was...

    Reuters: Polymetal in talks to maintain London listing as GDRs after moving to Kazakhstan

    Reuters: Polymetal in talks to maintain London listing as GDRs after moving to Kazakhstan

    Russia’s top gold and silver miner Polymetal is in negotiations with British authorities to keep its London listing in the form of global depositary receipts (GDR) after it moves to Kazakhstan, Reuters has reported. The transition to Kazakhstan would allow the company to spin off its Kazakh business, which accounts for about 38% of revenue and 32% of annual production....

    Palladium tests 2-year lows, as top miner sees deficit shrinking in 2023

    Palladium tests 2-year lows, as top miner sees deficit shrinking in 2023

    Palladium, a metal mostly used in autocatalysts, fell to a two-year low of USD 1,432.78 per ounce this week and is trading slightly above this level on Wednesday, as concerns over its shortage retreated after top producer Nornickel announced its market forecast for this year. Why it matters Late last week, the world’s biggest palladium producer Nornickel reported a palladium...

    Canada’s Sigma Lithium commissions crushing circuit in Brazil, eyes launching battery-grade metal production in April

    Canada’s Sigma Lithium commissions crushing circuit in Brazil, eyes launching battery-grade metal production in April

    Canadian miner Sigma Lithium announced on Monday it had completed commissioning of a crushing circuit and pump water system at its Grota do Cirilo project in Brazil’s Minas Gerais, and remained on track for launching production in April. The company also commenced detailed engineering and capex costing for phases II and III of its Greentech Plant expansion project. Why it...

    Thakadu and Mertech Partner to Establish Copper Sulphate Plant in South Africa

    Thakadu and Mertech Partner to Establish Copper Sulphate Plant in South Africa

    Thakadu Resources and Mertech Marine have entered into a joint venture to establish a new high-purity copper sulphate plant in South Africa. The new plant, which will be funded equally by both parties, aims to provide a unique, reliable, and responsible source of copper sulphate for the mining, agricultural, and chemical industries in Sub-Saharan Africa. Thakadu, which has pioneered the...

    Nornickel renews contracts with the bulk of its customers for 2023

    Nornickel renews contracts with the bulk of its customers for 2023

    Photo courtesy of Norilsk Nickel Press Service Norilsk Nickel, the world’s largest producer of nickel and palladium, has extended contracts with the majority of its customers for 2023. This news comes straight from the company’s Chief Financial Officer, Sergey Malyshev, who shared the details with journalists. “We are not giving our clients the runaround,” said Malyshev. “There are no sanctions...

    Polar Lithium awarded right to develop Russia’s largest lithium deposit

    Polar Lithium awarded right to develop Russia’s largest lithium deposit

    Polar Lithium, a joint venture between Nornickel and the mining division of state energy corporation ROSATOM, has been granted the right to develop Russia’s largest lithium deposit, Kolmozerskoye, located in Murmansk Region. The project aims to produce 45,000 tonnes of lithium carbonate and hydroxide per year, both of which are key components in the production of batteries. The partners plan...

    Indonesia Emerges as a Key Player in the Electric Vehicle Industry

    Indonesia Emerges as a Key Player in the Electric Vehicle Industry

    Indonesia, the world’s largest reserve of nickel, has signed over a dozen deals worth over $15 billion with major battery and electric vehicle manufacturers including Hyundai, LG Group, and Foxconn to produce EVs and batteries within the country. The Indonesian government, led by President Joko Widodo, is now targeting Tesla, the world’s most valuable automaker, to establish its presence in...

    Commodity Trader Traxys Acquired by Management, Pool of Investors

    Commodity Trader Traxys Acquired by Management, Pool of Investors

    Large metals and commodities trader Traxys announced on Monday that its management and a pool of investment firms would acquire 100% of its shares. The deal is expected to be closed in May after regulatory approvals, its value is undisclosed. The company’s сurrent owners include funds managed by global investment firm Carlyle and affiliates of Louis M. Bacon, the founder...

    Ardea Resources Receives $1.8 Million R&D Tax Incentive Rebate for Kalgoorlie Nickel Project Breakthrough

    Ardea Resources Receives $1.8 Million R&D Tax Incentive Rebate for Kalgoorlie Nickel Project Breakthrough

    Ardea Resources has achieved a technological breakthrough at its Kalgoorlie nickel project that will result in lower costs, lower carbon dioxide emissions, and more production. This discovery, which relates to its mineralized neutralizer process breakthrough at the Goongarrie Hub, has led to a provisional patent application being lodged. The breakthrough centers on the separation of magnesite-goethite-clay saprock into serpentine-goethite clay...

    World’s largest gold miner Newmont’s multi-billion bid for rival Newmont may not be enough – Reuters

    World’s largest gold miner Newmont’s multi-billion bid for rival Newmont may not be enough – Reuters

    Newmont Corp, the world’s largest gold miner by market cap and production, has offered $16.9 billion to acquire Newcrest Mining Ltd, but this may not be enough amid the management reshuffle in the latter, Reuters reported on Monday, citing analysts. The current all-share no-cash bid represents a 21% premium to Newcrest’s stock price before the offer was announced, but analysts...

    Anglo American boosts copper output by 52% y/y in Q4 2022

    Anglo American boosts copper output by 52% y/y in Q4 2022

    Diversified miner Anglo American boosted copper output by 52% year-on-year to 244,000 tonnes in the fourth quarter of 2022, while its copper total equivalent production was up 10% for the period, the company said in its production report. “Our production increased by 10% in the fourth quarter compared to the same period in 2021, driven by the ongoing ramp-up at...