South African platinum industry could shed up to 7,000 jobs to cut costs
Restructuring of South Africa’s platinum group metals (PGM) industry in response to rising costs and falling prices could result in between 4,000 and 7,000 job cuts, the country’s Minerals Council said on Monday.
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Battery prices are falling again as raw material costs drop
Mining News Pro - As the auto industry grapples with how to make affordable EVs, the task may get easier by one key metric. Battery prices are resuming a long-term trend of decline, following an unprecedented increase last year.
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Barrick beats Q3 profit estimates on higher production, lower costs
Mining News Pro - Barrick Gold Corp beat analysts’ expectations for third-quarter profit on Thursday, as the Canadian gold miner benefited from increased production and higher bullion prices.
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Barrick beats Q3 profit estimates on higher production, lower costs
Mining News Pro - Barrick Gold Corp beat analysts’ expectations for third-quarter profit on Thursday, as the Canadian gold miner benefited from increased production and higher bullion prices.
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China scoops up cheap Indian iron ore in bid to trim steel costs
Mining News Pro - Indian iron ore exports have surged this year as steel mills, mainly in the biggest buyer China, switched to lower-grade, cheaper feed in the face of dwindling profits.
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Strike at Mexico gold mine costs Newmont $3.7 million a day
Mining News Pro - The operator of Mexico’s largest gold mine says it is losing millions of dollars a day on a strike that has dragged on for months.
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Top copper-producing nation Chile sees mining costs jump 29%
Mining News Pro - If copper mining is any indication, there’s still plenty of work to do to bring down inflation.
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Newcrest profit falls nearly 11% on higher operating costs
Mining News Pro - Australia’s Newcrest Mining Ltd, which has received a A$26.2 billion takeover offer from Newmont Corp, posted a near 11% fall in annual profit on Friday, hurt by lower realized prices for copper and a rise in operating and finance costs.
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Newmont misses profit estimates on mining disruptions, higher costs
Mining News Pro - Newmont missed second-quarter profit estimates on lower production and higher costs, sending shares of the world’s largest gold miner down on Thursday.
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Chile miners, facing higher taxes, seek faster permits, lower energy costs
Mining News Pro - Now that Chile has passed an increase in mining royalties, copper miners are pushing for incentives to keep investing in production of the metal needed for the renewable energy revolution, with steps such as cuts in energy costs, speeded-up permit approvals and other incentives.
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Generation Mining’s updated Marathon feasibility shows strong economics despite higher costs
Mining News Pro - Generation Mining (TSX: GENM) has delivered an updated feasibility study for its Marathon palladium-copper project located northwestern Ontario, replacing the one it completed in March 2021.
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BMW bets on design and recycling, not mining, to lower battery costs
Mining News Pro - BMW is betting on efficient design and recycling to bring down battery costs and is steering clear of investing in mines, its finance chief said on Friday, setting it apart from some competitors digging deep into the supply chain.
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ESCO focus on reducing the production costs
Mining News Pro - Chief executive of Esfahan Steel Company visited different sectioned of blast furnace unit.
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BHP says Vale must share damage costs in Fundao dam collapse lawsuit
Mining News Pro - Although Samarco, a joint venture between BHP and Vale, operated the dam, the class action involving around 200,000 people does not name Vale.
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EV battery cathode costs spike as lithium price sets fresh record
Mining News Pro - For lithium that change happened in 2018, which, for one, shows just to what extent the EV industry is still in its infancy, and two, just what an impact the additional demand from EVs will have on raw material prices.
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Antofagasta’s profit slumps on rising costs
Mining News Pro - Antofagasta posted a fall in half-year profit on Thursday, as higher costs, lower grades and a persistent drought in Chile hit the miner’s copper production.
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Newmont warns inflation to spike costs in 2023
Mining News Pro - Newmont Corp on Monday raised its annual cost forecast and warned that inflationary pressures would persist into 2023 after its second-quarter profit missed Street estimates, sending the world’s biggest gold miner’s shares down 12%.
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Kore Potash cuts Congo project costs by $520 million
Mining News Pro - Shares in Kore Potash (LON: KP2) climbed on Monday almost 15% after the company lowered the costs cost of its Kola potash project in the Republic of Congo by $520 million to $1.83 billion.
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Mining in DRC costs people and the environment
Mining News Pro - The Democratic Republic of Congo (DRC) is rich in natural resources – its untapped deposits of minerals are estimated to be worth US$24 trillion. Gold, diamonds, cobalt and zinc are among them.
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Lithium sector needs $42 billion as pivot from China adds costs
Mining News Pro - The global lithium industry needs as much as $42 billion of investment by the end of the decade in order to meet demand for the crucial battery-making material, with attempts to build supply chains outside of China subject to much higher costs, according to a data and market-intelligence provider.
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Fortescue Metals first-half profit drops 32% as costs weigh
Mining News Pro - Fortescue Metals Group Ltd, the world’s fourth-largest iron ore miner, said on Wednesday its first-half profit fell by nearly a third, hurt by higher material and labour costs due to the pandemic.
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Hindustan Zinc says prices to stay strong due to power costs
Mining News Pro - Zinc prices will continue to trade at elevated levels as increasing energy and raw material costs curb production at some smelters and demand grows, according to India’s biggest producer.
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EV battery costs set to rise in 2022
Mining News Pro - The cost of batteries for electric vehicles is set to rise in 2022 as supplies of raw materials fail to keep up with rising demand.
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Coal India warns price hike is inevitable to combat higher costs
Mining News Pro - Coal India Ltd., the world’s largest producer of the fuel, said rising costs mean it’s “inevitable” that it will be forced to hike prices of supplies in long-term deals to protect profitability.
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Glencore to close Italian zinc operation on power costs
Mining News Pro - Glencore (LON: GLEN) is placing its zinc sulphide operation in Portovesme, Italy, on care and maintenance by the end of December at the latest and it will remain closed until there is “a meaningful change in power market prices”, the miner and commodity trader said on Monday.
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