Record gold and copper prices are also a boon for illegal mining in Peru
Record prices of gold and copper are buoying the spirits of mining leaders gathered in the Peruvian capital this week.
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Visit: 12
Glencore, Rusal extend aluminum supply contract into 2025
Swiss-based trading house Glencore and aluminum producer Rusal have extended their long-term supply contract into next year after the amount traded so far has amounted to a fraction of the agreement’s maximum volumes, a source with direct knowledge said on Wednesday.
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Visit: 19
Copper frenzy draws mining giants to Argentina after Milei’s reforms
Global mining heavyweights including Lundin Mining Corp., Glencore Plc and First Quantum Minerals Ltd. are piling into Argentina as a new government intent on luring foreign investment propels the companies closer than ever to opening up vast copper deposits in the red-hued Andes.
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Visit: 23
Peru’s 2024 copper target is realistic, mining magnates say
The Peruvian government’s 2024 copper production goal of 3 million metric tons is realistic, senior industry executives said on Tuesday, as the country seeks to boost mining investments to help lift the economy out of recession.
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Visit: 19
Elliott notches win with Suncor as shares rise to 16-year high
Suncor Energy Inc. shares rose to an almost 16-year high after the oil-sands producer accelerated plans to ramp up share buybacks, marking a win for activist investor Elliott Investment Management LP.
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Visit: 21
Copper’s record rise steadies as demand signals challenge bulls
Copper’s barnstorming run is showing signs of cooling, one day after reaching an all-time high, with investors cautioning its rally may have been running ahead of weak fundamentals for refined metal.
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Visit: 8
Sandvik, Glencore explore second life for BEV batteries with energy storage pilot
As part of the mining industry’s transition towards electrification, Sandvik has initiated a pilot project to deploy a second-life battery energy storage system (BESS) at to-be-determined assets held by Glencore.
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Visit: 3
BHP shares hit 3-month high as deadline for formal Anglo bid looms
Shares of BHP Group touched a three-month high on Tuesday about 36 hours ahead of a deadline to lodge a formal bid for rival miner Anglo American, which last week rejected a sweetened $43 billion takeover proposal.
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Visit: 22
Past producing yellow diamonds mine in Australia set to reopen
Australia’s Gibb River Diamonds (ASX: GIB) is getting closer to restarting the mothballed Ellendale diamond mine in West Kimberley after being granted three mining leases that are key for the project.
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Visit: 21
Copper’s record run at risk as US shipments calm speculator frenzy
Copper’s lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated on the shipment of material to cover exposed short positions in the US Comex futures market rather than tepid demand in top consumer China.
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Visit: 31
South Korea said to build lithium reserves to aid battery sector
South Korea has started building its lithium inventories to secure supplies of the critical mineral that’s crucial for its battery and auto manufacturing industries.
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Visit: 37
Anglo shareholder LGIM supports break-up plan as BHP circles
Anglo American shareholder Legal & General Investment Management (LGIM) supports the break-up plan announced by the company last week, it said on Monday, as the deadline approaches for BHP Group to log a formal takeover offer.
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Visit: 36
Rio Tinto declares force majeure on Queensland alumina exports
Rio Tinto has declared force majeure on third-party contracts for alumina exports from its refineries in Queensland, Australia, due to restricted gas capacity levels at its operations, a company spokesperson told Reuters on Monday.
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Visit: 34
Ferocious CME copper squeeze presages future turbulence
The copper rally turned ugly this week, morphing into a ferocious short squeeze on the US contract operated by CME Group.
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Visit: 29
US blames China’s CMOC for predatory tactics behind cobalt glut
China’s CMOC Group Ltd. is being accused by a top US official of using “predatory” tactics to depress prices of a key battery metal by flooding the market with cobalt from Democratic Republic of Congo mines.
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Visit: 57
Indigenous group to take fight against Arizona copper mine to Supreme Court
A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the US Supreme Court, after a federal appeals court refused to reconsider whether the US government may have improperly transferred land to the developer.
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Visit: 40
Teck sees $3bn in annual EBITDA if copper stays around current levels
Teck Resources Ltd expects to generate annual earnings before interest, depreciation, tax and amortization (EBITDA) of $3 billion if copper prices hit $5 per pound, CEO Jonathan Price said on Tuesday.
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Visit: 45
Korea Zinc sees US opportunities as it targets big copper growth
The world’s largest zinc smelter is planning to significantly expand its copper output, taking advantage of growth opportunities in the US as it seeks to become a leading player in the global transition to renewable energy.
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Visit: 46
Cochilco sees considerable increase in Chile’s copper price forecast
The state-run Chilean Copper Commission (Cochilco) will soon revise its copper price outlook, which will be considerably higher than the previous forecast, the body’s technical head said on Tuesday.
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Visit: 59
Glencore seeks Australian carbon capture approval amid farmer protests
Australia’s Queensland state will decide this month whether to give Glencore a key approval to bury liquefied carbon dioxide in the country’s largest aquifer, a plan farm groups say must be blocked because it risks poisoning water supplies.
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Visit: 65
Chile truckers protest rising crime in threat to mine transport
Truck drivers in Chile staged protests Monday in the mineral-rich north of the country and around the capital Santiago, demanding greater safety amid an up-tick in violent crime.
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Visit: 27
Congo allows Zijin mine to resume operations, ministry letter says
Democratic Republic of Congo’s government has lifted a suspension order on a Congolese copper and cobalt operation majority-owned by China’s Zijin Mining Group Co. Ltd, according to a letter seen by Reuters on Monday.
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Visit: 48
Sibanye recovers after weather woes
Sibanye-Stillwater’s Queensland operations are back up and running following a period of severe weather in the first quarter of the year.
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Visit: 59
Sibanye seeks to loosen borrowing restrictions as earnings plunge
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, it said on Friday, after weak platinum group metal (PGM) prices drove earnings 72% lower in the March quarter.
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Visit: 44
Iron ore price hits more than 2-week low on rising inventory
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports and caution about demand outlook, but property support measures in China lent some support.
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Visit: 55