Rusal is experiencing significant hurdles in sustaining a steady presence in its export markets, confronting unparalleled constraints including upcoming trade shifts, as highlighted in their recent communications with the press. Unprecedented Pressures Impact Operations The aluminum titan is battling an increasingly restricted business environment, with recent reports revealing that Novelis Europe, a key figure in the rolled aluminum sector, plans...
Mining news
Encounter Resources Initiates Drilling at Carrara Copper-Zinc Project in Australia’s Northern Territory
Project Overview Drilling Details Statement from Encounter Resources Will Robinson, Managing Director of Encounter Resources, highlighted the immense potential of the Greater McArthur Superbasin in the NT. He sees it as a significant global avenue for unearthing substantial sediment-hosted copper and zinc deposits beneath shallow cover. Robinson further underscored the presence of the Century Zinc Mine on the eastern margin...
Support Package for Tara Mines Workers Extended
A support package for workers at Tara Mines will continue until the new year. This decision followed discussions between management and worker unions. The mine, located in Co Meath, halted operations in mid-July, leading to the lay off of 650 workers. The suspension was attributed to several reasons, including declining zinc prices, inflation, and rising energy costs. The mine management...
Poseidon Nickel Begins New Drilling Phase at Lake Johnston in Australia
Australia’s Poseidon Nickel has kicked off another exploration drilling at Lake Johnston following encouraging results from an earlier effort. Earlier in the year, the Lake Johnston reconnaissance drilling spanned over a 14km section of the Western Ultramafic Unit (WUU) and yielded promising outcomes, including indicators for potential nickel sulphides. CEO Craig Jones conveyed his optimism regarding the already identified targets....
Dundee Precious Metals Announces Q3 Results and Record Gold Production at Ada Tepe
Dundee Precious Metals Inc. (TSX: DPM) shared its preliminary production outcomes for the period ending September 30, 2023. Key highlights include Ada Tepe mine’s record-breaking achievement, having produced a substantial 33.8 K oz. of gold. This significant output aligns well with the company’s optimistic projections for the mine. Meanwhile, the Chelopech mine maintained its steady performance, churning out 40.3 K...
Mike Fraser to Head Gold Fields as New CEO
CEO Transition at Gold Fields Following the departure of Chris Griffith in late 2022, Gold Fields had Martin Preece acting as an interim CEO. Now, Gold Fields, South Africa’s preeminent gold producer and the largest in Africa, has announced a new CEO. Starting January 1, 2024, former South32 executive Mike Fraser will helm the company. Mike Fraser: A Return to...
XL Axiata Aims for Top Spot in Global Mining Sector Network Services
In recent developments, XL Axiata has expressed its intentions to enhance its offerings within the enterprise segment, particularly aiming for the business-to-business (B2B) market in the mining industry. The company’s Private Network service is already being utilized by companies like PT Vale Indonesia and PT Pamapersada Nusantara, with the latter benefiting from XL Axiata’s LTE hybrid network services in East...
Weekly Metals News Digest (Oct 2-6)
Aurubis prepares for lower copper demand Next year we should expect a lower level of demand for copper. The metal is used in various industries and construction. This is supported by the fact that the European metallurgical giant Aurubis notified its customers that it will set a $228 per tonne premium for copper in 2024. Currently, copper prices on the...
CEO of Chaarat Gold Holdings Resigns Amidst Company Refocusing
Mike Fraser, the Chief Executive Officer of Chaarat Gold Holdings, has stepped down from his position effective immediately. Following the announcement, the company’s shares saw an 11% uptick, trading at 4.38 pence on Monday morning. Chaarat Gold Holdings, known for its operational mine in Armenia and additional assets in Kyrgyzstan, has decided to forgo Fraser’s six-month notice period. Fraser’s journey...
Cameroon’s Extractive Governance Under Spotlight Following the Glencore Scandal
Cameroon’s extractive industry’s governance practices are currently being examined by the Extractive Industries Transparency Initiative (EITI) in a routine procedure referred to as “Itie validation”. However, the shadows cast by the 2021 Glencore scandal, exposing a massive global corruption web implicating two Cameroonian companies, has added more urgency to this examination. Background In 2021, EITI recognized “significant progress” in Cameroon’s...