Major Investments in Hamburg Plant Aurubis, a leading copper group, is set to further invest 330 million euros in its Hamburg facility. The company’s Supervisory Board has greenlit two new projects at this northern German plant. This investment decision underscores Aurubis’ commitment to expanding its operations and technological capabilities. Construction of New Precious Metals Processing Plant Approximately 300 million euros...
Mining news
Rusal Contemplates Freezing or Closing Several Enterprises Amid Economic Challenges
Pressures on Rusal’s Operations Rusal, a major global aluminum producer, is facing severe economic pressures that may lead to the freezing or closure of several of its enterprises. This situation arises as the company grapples with dwindling profitability at numerous facilities. According to a statement by the Aluminium Association, Rusal’s enterprises are operating at the brink, with some already incurring...
Arras Minerals and Teck Resources Form Strategic Alliance for Exploration in Kazakhstan
Alliance Formation and Exploration Focus Canada’s Arras Minerals Corp has announced a strategic alliance with fellow Canadian company Teck Resources. This collaboration is centered on exploring critical minerals in Kazakhstan, excluding the Beskauga copper-gold project in which Arras is involved. CEO Comments on Kazakhstan Operations Arras CEO Tim Barry highlighted the company’s early engagement in Kazakhstan, following significant reforms in...
Power Metal Resources Makes Significant Strides in Selta Project
Expansion and New Discoveries at Selta Project Power Metal Resources PLC is progressing rapidly with its Selta Project located in Australia’s Northern Territory. Key developments include: 1. Exploration Target Expansion: The project has broadened its search for rare-earth elements (REE) and lithium. This expansion builds upon the insights gained from previous explorations and data analyses. 2. New Mineral Targets Identified:...
BHP Group Announces CFO David Lamont’s Resignation and Appoints Vandita Pant as Successor
CFO Transition at BHP Group BHP Group Ltd., the Australian mining giant, has announced a significant change in its executive team. David Lamont, the current Chief Financial Officer (CFO), has resigned from his position but will continue to serve as a Senior Executive Officer in an advisory role until February 2025. Vandita Pant Steps into CFO Role Effective March 1,...
Galan Lithium Limited Announces On-Schedule Progress of HMW Phase 1 Construction for 2025 Production Start
Key Updates on HMW Phase 1 Construction Galan Lithium Limited (ASX: GLN) has provided a progress update on its Hombre Muerto West (HMW) Phase 1 lithium brine project. The construction activities are on track, aiming for lithium chloride production in the first half of 2025. Current Construction Milestones HMW Project Phases and Targets The HMW project is divided into four...
Weekly Metals News Digest (Oct 30 – Nov 3)
Russian oligarch Roman Trotsenko “escapes” from Zhelezny Kryazh Famous Russian oligarch Roman Trotsenko has ceased to be the controlling shareholder of Siberian Goldfields, which owns the Zhelezny Kryazh gold mine. His son Gleb Trotsenko has now replaced him as the controlling shareholder. The Zhelezny Kryazh deposit is located in Siberia and is a unique property, with high concentrations of gold...
Weekly Metals News Digest (Oct 23–27)
Nornickel shows interesting results Nornickel published the results of its production for the first nine months of this year, and they proved somewhat contradictory. On the one hand, nickel output from January to September 2023 decreased by 9% to 145,271 thousand tons, while copper increased by 4% to 303,990 thousand tons. The production of palladium, meanwhile, increased by 1% to...
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:...
Weekly Metals News Digest (Oct 9-13)
Nornickel expects copper market growth In the remaining months of 2023 and into next year, Norilsk Nickel forecasts steady growth in the global copper market at a rate of 2–3%.The company’s forecast emphasizes the revival of economic activity in China, which is the main producer of red metal on the planet, while also being its main consumer. It also highlights...