Freeport-McMoRan Reports Robust Fourth Quarter and Full-Year 2023 Performance
Freeport-McMoRan has announced its financial and operational results for the fourth quarter and the entire year of 2023, showcasing a solid operational performance and a promising outlook. The company’s fourth-quarter performance was notably strong, with copper sales volumes surpassing both the October 2023 estimates and the figures from the fourth quarter of the previous year. Additionally, unit net cash costs...
Falco Resources Secures Key Agreement with Glencore Canada for Horne 5 Project Development
Falco Resources has finalized an operating license and indemnity agreement (OLIA) with Glencore Canada, marking a significant milestone for its Horne 5 project in Rouyn-Noranda. This agreement, stemming from a preliminary arrangement announced in June 2021, sets a cooperative framework for the development and operation of the Horne 5 project, considering its proximity to Glencore’s Horne smelter operations. Central to...
Rosatom Acquires Major Stake in Solikamsk Magnesium Plant, Bolstering Russia’s Rare Metals Production
The Russian government has officially transferred a significant 89.5% stake in the Solikamsk Magnesium Plant (SMZ) to Rosatom, the state nuclear energy corporation. This strategic move, completed on January 22, is part of a broader effort to consolidate Russia’s position in the rare earth metals and magnesium production sectors. Located in the Perm Region, SMZ is a key player in...
Capstone Copper Outlines 2024 Prospects After Reporting 2023 Production
Capstone Copper has recently shared its production achievements for 2023 and laid out its operational and financial forecasts for 2024, offering a comprehensive overview of its current standing and future directions in the copper mining sector. In 2023, Capstone Copper met its production targets, with a total copper output of 164,353 tonnes. This performance was highlighted in the fourth quarter,...
Thailand Sets Sights on Lithium Production to Fuel EV Industry Growth
Thailand is poised to enter the lithium market with plans to commence production within two years, aiming to bolster its burgeoning electric vehicle (EV) sector. This strategic move involves the development of a lithium mine in the southwest region, marking a significant step for the nation in becoming a regional EV production hub. The focus of this ambitious endeavor is...
Fresnillo Reports Mixed Fourth Quarter Production Results; 2024 Outlook Steady
In the latest update from the mining sector, Fresnillo, a player in the precious metals market, has reported varied results in its fourth-quarter production. The company noted a substantial increase in silver output, while gold production witnessed a decline. Silver Production on the Rise Fresnillo’s fourth quarter saw a 13.1% rise in attributable silver production, reaching 14.16 million ounces, up...
Redwood Materials Commences Construction on $3.5 Billion Battery Recycling Facility in South Carolina
Redwood Materials has officially initiated the construction of its ambitious $3.5 billion battery recycling facility in Berkeley County, South Carolina. The groundbreaking ceremony, which took place on January 23, marks the beginning of a significant project aimed at bolstering electric vehicle (EV) battery recycling in the United States. A Strategic Move Towards Sustainable Battery Production Located in Santee Cooper’s Camp...
Australian Battery Mineral Sector Faces Price Crisis: Industry Calls for Government Intervention
The Australian battery mineral industry is experiencing a significant downturn, with prices for lithium, nickel, and other essential battery minerals plummeting. This alarming trend has led to the closure of several mines and calls for government attention to address the industry’s structural challenges. Recent reports from the Australian Financial Review and The Australian highlight a staggering 85% drop in lithium...
Pilbara Minerals Faces Price Drop but Remains Optimistic Amid Market Fluctuations
Pilbara Minerals, a key player in the lithium market, has experienced a significant price drop in its spodumene product from the Pilgangoora project. Despite this challenge, the company maintains a positive outlook for the future of the commodity. In the December quarter, Pilbara witnessed a 50% decrease in the average realised price of spodumene, plummeting from $US2,240 per tonne to...
Arconic Plans to Divest Chinese Operations in $300 Million Deal
In a significant move within the aerospace industry, Arconic Corp is reportedly on the verge of selling its China business for an estimated $300 million. This decision reflects a growing trend among multinational firms reassessing their operations in China amidst various economic and geopolitical challenges. Strategic Shift Amid Global Trends Arconic, a major player in the supply of aluminum products...
Chilean Mining Industry Faces Decline in Sulfuric Acid Consumption by 2032
The mining industry in Chile, a key player in global copper production, is poised to see a significant decline in sulfuric acid consumption, a crucial component in copper extraction and processing. According to a recent report by Cochilco, sulfuric acid consumption is expected to drop by 34.2% by 2032, a trend closely related to the scheduled closure of several major...
Barrick’s Lumwana Super Pit Project Scheduled for 2028 Production Commencement
Barrick Gold Corp.’s Lumwana copper mine in Zambia is set for a significant expansion with its Super Pit project, now accelerated for a production start in 2028. This development is part of the Zambian government’s initiative to rejuvenate the country’s copper industry over the next decade. The Super Pit expansion is projected to transform Lumwana into one of the world’s...
KGHM Reports Increase in Copper Sales in December; Overall Annual Production Declines
KGHM, a listed copper producer, reported a slight increase in its copper sales for December, with a total of 53,100 tonnes sold, marking a 1 percent year-on-year increase. This growth in sales was predominantly driven by KGHM International Ltd., while KGHM Polska Miedz S.A. and Sierra Gorda S.C.M. experienced lower sales. Despite the uptick in December sales, the cumulative copper...
CyclOpe Index Forecasts Decline in Industrial Commodity Prices for 2024
According to the latest CyclOpe index, global prices for industrial commodities are expected to continue their downward trend in 2024, with notable exceptions like uranium, copper, and aluminum. In 2023, the index, which aggregates price changes for the world’s main listed commodities, recorded a 14 percentage point decrease from the previous year. Key Trends in Metals Market – The dip...
Americas Gold and Silver Corporation Reports Strong Production Results for Q4-2023 and Full Year; Updates on Galena Exploration
Americas Gold and Silver Corporation has announced its production results for the fourth quarter and full year of 2023, along with an update on the exploration results at the Galena Complex. In Q4-2023, the company achieved its strongest production quarter of the year, with consolidated attributable silver production significantly increasing compared to the same period in 2022. Despite the robust...
Jiangxi Copper Partners with Danieli Frohling for Plant Expansion
Jiangxi Copper, China’s prominent copper cathode producer and supplier of various copper products, has selected Danieli Frohling’s technology and equipment for its plant expansion in Nanchang, Jiangxi, China. This partnership signifies a major advancement in the company’s production capabilities. The investment by Jiangxi Copper aims to boost its annual production capacity by approximately 15,000 tons for copper flat products. This...
IAMGOLD Announces Strong 2023 Production Results and Progress at Cote Gold Project
IAMGOLD Corporation has announced its preliminary full-year and fourth quarter 2023 production results, along with notable progress at the Cote Gold Project in Ontario, Canada. The company’s production results for 2023 align with the higher end of its annual production guidance. 2023 Production Highlights – IAMGOLD achieved an attributable gold production of 465,000 ounces in 2023, which sits at the...
Vilnohirsk Mining Set for Increased Production in 2024 Under United Mining and Chemical Company
Vilnohirsk Mining and Metallurgical Combine, located in the Dnipropetrovsk region in Ukraine and a part of the United Mining and Chemical Company (UMCC), is gearing up to boost its production output in 2024. This initiative follows a recent visit by the head of the State Property Fund of Ukraine, Vitaliy Koval, to the enterprise. During his visit, Koval inspected the...
EU Targets Russian Aluminium in Latest Sanctions Amid Energy Sector Focus
The European Union’s 13th package of sanctions against Russia is set to significantly impact Russian aluminium products, as reported by Politico citing European diplomatic sources. This move aligns with the EU’s broader strategy to intensify sanctions on Russia’s energy sector, notably because of the high electricity costs involved in aluminium smelting. The focus on Russian aluminium, encompassing products like wire,...
Anson Resources Granted Conditional Use Permit for Drilling at Green River Lithium Project
Anson Resources has been granted a Conditional Use Permit (CUP) by the Green River City Planning & Zoning Commission for exploration drilling and operation of its Sample Demonstration Plant at the Green River Lithium Project in Utah. This permit marks a significant step forward in the company’s exploration and development plans in the region. Key Developments and Approvals – The...
