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...
Production news
Alcoa Committee in Uproar Over Unexpected Shutdown of Foundry
In a surprising move, Alcoa has chosen to “temporarily” shut down the only operational department in the Aluminum factory of San Cibrao, Foundry. This decision was attributed to soaring energy costs and diminishing orders from customers. The abrupt move has drawn the ire of the plant’s committee, which has hastily arranged a plenary session tomorrow to deliberate on the unfolding...
Ukraine: Former Metallurgy Giant in Konstantinivka Declared Bankrupt
Court Decision: In August, the economic court of Donetsk region recognized “Ukrtsink” from Kostyantynivka as bankrupt, as noted in the court register. Historical Background: The enterprise, which was once a significant player in non-ferrous metallurgy, ceased operations in 2002. From its assets, new entities like “SP Lead” and “Zinc” emerged. “Ukrzinc” was established in Konstantinovka in 1930 to manufacture zinc....
Nornickel Initiates Mining at Record Depth
Connecting New Depths: Nornickel has started mining operations at the Glubokaya mine within Skalisty, reaching an unprecedented depth of nearly 2 km. Glubokaya, it should be noted, translates as “Deep” from Russian. The achievement comes after successfully linking two independent vertical shafts: a ventilation shaft and a skip-cage shaft at -1943 meters, a first in Eurasian mining history. Significant Ore...
Weekly Metals News Digest (Sept 25-30)
Check out a recap of the most important mining news from the past week: Gates and Bezos will be searching for copper in Zambia Zambia is among the world’s largest suppliers of copper ore, with approximately 1 million tons of ore (in terms of refined copper) being extracted from its mines out of the 22 million tons mined globally each...
Weekly Metals News Digest (Sept 18-24)
Check out a recap of the most important mining news from the past week: China Increases Winged Metal Production Primary aluminum production in China demonstrated strong growth in August, increasing by 3.1% compared to the same month in 2022, reaching 3.6 million metric tons. In comparison to July 2023, it surged by 3.4%. This significant rise in winged metal production...
Weekly Metals News Digest (Sep 1-17)
Check out a recap of the most important mining news from the past week: WPIC Raises Global Platinum Deficit Forecast to Record 1 Million Ounces in 2023 The deficit in the global platinum market will most likely top 1 million ounces this year due to strong demand growth from carmakers and other industries amid flat supply, the World Platinum Investment...
Former Gold Fields CEO, Chris Griffith, to Lead Vedanta’s African Operations
Chris Griffith, a seasoned figure in the African mining sector with leadership roles at Amplats and Kumba Iron Ore, both subsidiaries of Anglo American, is set to take the reins at Vedanta Resources. He will assume the position of CEO for the base metals division and President of international operations, starting October 2. Griffith’s purview will include overseeing Vedanta’s international...