Nexans Partners with Alcoa for Supply of Low-Carbon Aluminum
Nexans has announced a partnership with Alcoa, marking a significant step in the adoption of more environmentally friendly materials in the manufacturing of cables. Under this agreement, Alcoa will supply Nexans with low-carbon aluminum, a portion of which will be sourced from the innovative ELYSIS technology. This technology is notable for its elimination of all direct greenhouse gas emissions from...
Doncaster’s Bawtry Carbon Factory Closes, Leading to Redundancies
Bawtry Carbon, a longstanding manufacturing firm based in Austerfield, Doncaster, has gone into administration, resulting in the majority of its 103 employees being made redundant. This marks the second time in five years that the company, which began operations in 1972, has faced such financial difficulties. The company, known for manufacturing and supplying carbon cathode blocks, cited a combination of...
Sierra Metals Projects Consistent Production Levels into 2024
Sierra Metals is setting the stage for a year of steady production across its base metals portfolio, building on a successful increase in output throughout 2023. The company, with significant operations in Peru’s Yauricocha mine and Mexico’s Bolivar mine, is focusing on copper production while also preparing for future growth. For 2024, Sierra Metals anticipates a year marked by stable...
Vietnam’s Rare Earths Production Declines as China’s Output Increases
The U.S. Geological Survey (USGS) has significantly reduced its estimates for Vietnam’s rare earths production, forecasting further decreases despite the country’s abundant resources. This revision contrasts with an increase in production by China, the leading global producer. The adjustments in production estimates come after the Vietnamese authorities arrested corporate executives involved with Western companies in developing rare earths mining projects...
Hydro Announces Major Investment in Spanish Aluminium Recycling Plant
Hydro, the Norwegian aluminium producer, has unveiled plans to invest 180 million euros ($195.39 million) in constructing a new aluminium recycling facility in Spain. This plant is set to produce 120,000 metric tons of low-carbon aluminium annually, aligning with Europe’s ambitions for an energy transition. The initiative comes in response to the European Union’s designation of aluminium as a critical...
Endomines Commences Gold Production at Hosko Site
Endomines Finland Oyj has officially begun gold production at its Hosko site, located along the Karelian Gold Line. This new development is expected to account for 10-20% of the company’s total production in 2024, with a focus initially placed on areas of high-grade gold. The Hosko site boasts measured resources of approximately 35,000 tons, with a gold grade of 4.1...
Glencore Reports Lower 2023 Copper, Nickel, Cobalt Output; Flags Further Falls
Glencore has announced a decrease in its production of copper, nickel, and cobalt for 2023, with expectations set for continued declines into the current year. These materials, crucial for electric vehicle manufacturing, have seen a downtrend in output amid broader industry challenges. Analysts from Jefferies point out that production hurdles are becoming increasingly common across the mining sector, suggesting that...
UK Sanctions Stir the Pot in Global Metals Market
The introduction of new UK sanctions against Russia is reshaping the landscape of the global metals trade, highlighting the complex interplay of politics and commerce. This move has led to divergent strategies among the world’s largest metals traders and banks, particularly affecting transactions on the London Metal Exchange (LME). JPMorgan Chase & Co. has notably continued purchasing Russian aluminum, contrasting...
Digest for January 22-26, 2024
Anticipated Copper Shortages and Price Increases Goldman Sachs forecasts a copper market shift towards a deficit of 428 thousand tonnes by the end of 2024, following a temporary surplus in the first quarter. This prediction stems from a confluence of factors, including reduced production at major mines and a slowdown in pure metal production growth. Despite current prices hovering around...
New Lithium Extraction Technology Secures Global Patents
Two technologies for lithium extraction and production, developed by Dr. Jun Woong, have recently achieved international patent recognition. Lithium-for-earth and Hydro Lithium announced the patents for Lithium Extraction from Saline and Other Sources (CULX), and Environmentally Friendly Lithium Hydroxide Production Using Water (CULH), marking a significant advancement in the field of lithium processing. The saline lithium extraction technology patent has...
Glencore and True North Copper Forge Landmark Agreement to Boost Mt Isa Smelter
In a move that promises to revitalize the Mt Isa smelter, True North Copper (TNC) has entered into a significant offtake and toll-mining agreement with global mining giant Glencore. This partnership marks a pivotal development for the Cloncurry Copper Project (CCP), as Glencore commits to purchasing 100% of the copper produced, with provisions to toll treat up to one million...
EMX Royalty Expands Portfolio with Acquisition of Interest in Finland’s Mustajärvi Gold Project
EMX Royalty has made a strategic acquisition by securing a royalty interest in the Mustajärvi gold project in Finland, spotlighting the significant potential of this asset within the prolific Central Lapland Greenstone Belt. The purchase agreement with Aurora Exploration includes an $80,000 (C$107,451) transaction and the issuance of 30,000 common shares from EMX, pending the approval of the Toronto Stock...
Pandora Leads Sustainable Shift in Jewellery Industry by Eliminating Mined Metals
Pandora, the world’s largest jewellery brand by volume, has announced a significant shift towards sustainability by ceasing the use of mined gold and silver in its products, achieving this milestone a year ahead of its 2025 target. Initially set in 2020, Pandora aimed for 100% use of recycled precious metals in its jewellery, with 71% already sourced from recycled materials...
Indonesian Nickel Industry’s Growth Leads to Global Market Shifts
The Indonesian nickel industry’s rapid expansion is significantly impacting the global nickel market, leading to a substantial drop in prices and challenging producers worldwide. The nickel price on the London Metal Exchange (LME) has plummeted by nearly half over the last 13 months. This downturn has prompted Australian mining companies like Wyloo Metals and BHP to announce closures or reductions...
Volta Energy Solutions Advances in North American EV Sector with Innovative Copper Foil Plant
Volta Energy Solutions (VES), a pioneer in battery copper foil technology, is making a significant leap into the North American electric vehicle (EV) market with the construction of a new plant in Quebec, Canada. This expansion aims to address the increasing demand for battery copper foil, vital in the EV supply chain. Founded in 1960, VES’s roots lie in Circuit...
Germany Emerges as a Key Player in Europe’s Lithium Industry
Bitterfeld-Wolfen, a town in Germany once known for ecological issues, is now at the forefront of the country’s green transition. It is set to host Germany’s first large-scale lithium refinery, a vital component of Europe’s strategy to localize the extraction and refinement of essential raw materials for electric vehicle batteries. The AMG Lithium plant in Bitterfeld-Wolfen, located about 140 kilometers...
Volt Lithium Achieves Milestone in Battery-Grade Lithium Production
Volt Lithium has successfully produced 99.5% pure battery-grade lithium carbonate at its Demonstration Plant in Calgary, Alberta. Utilizing their proprietary direct lithium extraction technology, the company processed oilfield brine from Rainbow Lake, Alberta, to achieve this result. This advancement demonstrates Volt Lithium’s ability to transform oilfield brine into a commercially viable grade of lithium carbonate, enhancing the company’s position as...
Michigan Strategic Fund Delays Decision on $50M Aid for Upper Peninsula Copper Mine
The Michigan Strategic Fund board has postponed a decision on a $50 million grant request for the Copperwood Mine project in the western Upper Peninsula. During a special meeting, the request by Highland Copper, a Canadian company also pursuing the White Pine North copper mine project, was referred to a subcommittee for further scrutiny. The Copperwood Mine, situated near Porcupine...
Rusolovo Plans Major Investment in Tin Production Cluster in Russia’s Far East
PJSC Rusolovo is undertaking a substantial project to establish a full-cycle tin production cluster in Russia’s Far East, centered around the Amur Metallurgical Plant in the Khabarovsk Territory. Magomed Gekhaev, the company’s Deputy General Director, announced at the Russia Forum that this initiative would require an investment of approximately 29 billion rubles (about 323.35 million USD). This strategic move is...
Alcoa Seeks European Funds for Galician Factories Amidst Closure Threats
Alcoa, the American aluminum giant, is seeking European funding for its two factories in San Cibrao, Galicia. The company has applied for the PERTE decarbonization program, a Spanish government initiative offering a budget of 1,000 million euros, split between soft loans and subsidies. The applications cover both the aluminum factory, which recently reactivated two electrolysis tanks after a two-year blackout,...
