Expansion Project Progress Vale, Brazil’s mining giant, has successfully increased the production capacity of its Salobo mine to 32 million tonnes per annum. This development is part of the first phase of the Salobo III expansion project, which began in 2019 with a budget of $1.1 billion. The project aims to further boost the mine’s capacity to 36 million tonnes...
Copper Sales and Production Overview KGHM Polska Miedz (KGHM Polish Copper) maintained stable copper sales in October, reaching 59,600 tonnes, matching the level from the previous year. However, there was a slight 3 percent decrease in payable copper production compared to the same period last year, totaling 58,700 tonnes. Performance Across Divisions The stable copper sales are attributed to increased...
Inauguration of New Industrial Unit Citic Dicastal, a Chinese aluminum casting and automotive part production leader, inaugurated its third facility, “Dika Morocco Castings,” in Kénitra, Morocco. This event marks Citic Dicastal’s five-year presence in Morocco and aligns with the tenth anniversary of China’s “Belt and Road” initiative and 65 years of China-Morocco diplomatic relations. Project Details and Investment The new...
Policy Changes for Import Duties The Russian Ministry of Industry and Trade is considering optimizing import duties or offering tariff exemptions for essential raw materials in the production of metals, including bauxite. This policy change, part of the metallurgical industry development strategy, aims to bolster Rusal’s new alumina refinery project in Ust-Luga. The proposal suggests adjusting “rates of import customs...
Strategic Expansion in Dammam Vedanta, under the leadership of Anil Agarwal, is set to establish a 100,000-tonne continuous copper rod plant in Saudi Arabia. This venture, driven by Malco Energy’s new entity Vedanta Copper International VCI Company Limited, will be situated in Dammam. The initiative aims to cater to the increasing demand for high-quality wire rod, aligning with Saudi Arabia’s...
Financial Performance and Temporary Closure Tara Mines, the largest zinc mine in Europe, reported a profit of €24.4 million last year. However, the mine faced operational suspension this summer due to a combination of soaring energy costs and declining global zinc prices. Despite the profit, the Swedish-owned Boliden had to temporarily lay off nearly 700 workers. Currently, the mine in...
Project Overview Emirates Global Aluminium (EGA) has commenced the construction of the United Arab Emirates’ largest aluminium recycling plant. The facility, designed to have an annual capacity of 170 thousand tonnes, will be located adjacent to EGA’s Al Taweelah smelter. The plant aims to recycle both post-consumer aluminium scrap, such as used window frames, and pre-consumer scrap from extrusion production,...
Major Acquisition in Copper Mining MMG Ltd has announced the acquisition of Cuprous Capital, the company overseeing the Khoemacau copper mine in Botswana, for $1.88 billion. Located in the Kalahari Copperbelt, an extensive copper-rich region spanning from Botswana to Namibia, Khoemacau is currently the only active copper mine in this area. Strategic Move Amid Rising Copper Demand This strategic acquisition...
In October 2023, global primary aluminum production saw an uptick, averaging 197,300 tonnes per day, an increase from the 189,900 tonnes per day recorded in October 2022, and slightly higher than the 195,700 tonnes per day in the preceding month. These figures, including estimated data for China, were released by the International Aluminum Institute (IAI). The total global production of...
The global nickel market presents a complex scenario: production is on the rise, consumption is growing, yet an overall surplus of nickel is forecasted. This situation presents a paradox, suggesting both an abundance and scarcity of nickel in the market. Stainless Steel’s Influence on Nickel Market Dynamics The International Nickel Study Group’s projections indicate a notable increase in global nickel...
