African Rainbow pauses Bokoni mine expansion plan after H1 profit fall

African Rainbow Minerals (ARM) said on Friday it was deferring plans to expand output at its Bokoni mine due to low platinum group metal (PGM) prices after reporting a 43% drop in its half-year profit.

Brazil’s CSN net profit soars on mining performance

Brazilian steelmaker and mining group CSN’s net profit jumped by more than fourfold in the fourth quarter, sending its shares higher on Thursday on the back of a solid performance in its mining business.

Impala Platinum considers mine closures after profit slump

Impala Platinum could shut some loss-making South African mining operations if metal prices deteriorate further and restructuring efforts fail to improve margins, chief executive Nico Muller said.

SQM profit down 82% as lithium prices slide

Chile’s SQM, the world’s second-largest lithium producer, on Wednesday posted an 82% fall in its fourth-quarter net profit from a year earlier, below forecasts as prices for the key battery metal continued to slide from earlier peaks.

Alrosa’s annual net profit drops 15.2%

Russia’s sanctions-hit diamond producer Alrosa on Wednesday reported 2023 net profit of 85.18 billion roubles ($925 million), down 15.2% from the previous year.

SQM profit down 82% as lithium prices slide

Chile’s SQM, the world’s second-largest lithium producer, on Wednesday posted an 82% fall in its fourth-quarter net profit from a year earlier, below forecasts as prices for the key battery metal continued to slide from earlier peaks.

Nickel faces existential moment with half of mines unprofitable

Many of the world’s biggest nickel mines are facing an increasingly bleak future as they wake up to an existential threat: a near limitless supply of low-cost metal from Indonesia.

Vale’s fourth-quarter profit falls 35% on higher provisions over dam accident

Brazilian miner Vale reported on Thursday a 35% drop in fourth quarter net profit, missing analyst expectations by almost half, following higher provisions related to its Samarco joint venture and more taxable income.

Anglo American to review assets after writedowns and profit plunge

Anglo American will review its assets after a 94% plunge in annual profit and writedowns at its diamond and nickel operations, the company said on Thursday.

Rio Tinto reports 12% profit drop but returns more cash to investors

Rio Tinto reported a 12% fall in annual underlying earnings on Wednesday, in line with forecasts, but paid a better-than-expected final dividend as it said inflation pressures were starting to recede.

Grupo Mexico profit down 19% on sliding metal prices

Mining and transport conglomerate Grupo Mexico on Friday reported that its net profit for the last three months of 2023 fell 19% from a year earlier to $757.4 million, dragged down by lower prices for key metals including copper.

Lithium miners warn on plunging profits after price freefall

Two of China’s biggest lithium companies became the latest miners to issue stark warnings over the health of the battery metal industry, telling investors to prepare for tumbling profits and asset writedowns.

Vedanta beats Q3 profit view on production

Indian metal-to-oil conglomerate Vedanta reported a smaller-than-expected drop in third-quarter profit on Thursday, as an uptick in production and sales outweighed lower metal prices.

Sandvik to cut 1,100 jobs as Q4 profit lags expectations

Sandvik plans to cut around 1,100 jobs as part of a cost-saving drive, the Swedish mining equipment maker said on Thursday, as it reported adjusted fourth-quarter profits just below expectations.

Sigma Lithium shares jump as it posts first quarterly profit

Mining News Pro - Sigma Lithium reported on Wednesday a revenue of $97 million for the third quarter of 2023, marking the company’s first revenue-generating quarter.

Ivanhoe records $108m third-quarter profit

Mining News Pro - Ivanhoe Mines (TSE: IVN) reported on Monday an increase in net profit to $108 million for the third quarter, compared with a profit of $87 million in Q2.

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.

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.

Newmont misses profit estimates, Penasquito return underway

Mining News Pro - Newmont on Thursday missed Wall Street estimates for third-quarter profit as the world’s largest gold miner struggled with weak production stemming from a labor strike at its Mexico mine.

Boliden’s profit falls as lower prices

Mining News Pro - Boliden on Friday reported a slightly bigger-than-expected dive in third-quarter profit hurt by high costs, lower mining grades and falling metal prices, sending shares in the mining and smelting group down 7%.

Freeport-McMoRan beats quarterly profit estimates on production boost

Mining News Pro - Freeport-McMoRan beat Wall Street estimates for third-quarter profit on Thursday and slightly raised its full-year copper sales outlook as it began shipments from Indonesia.

South African mining profits slump by almost half

Mining News Pro - South African mining company profits have plunged by almost half this year, dropping almost 100 billion rand ($5.2 billion) because of the blows from lower commodity prices, crippling power cuts, rail network constraints and rising costs, Fin24 said, citing a report by PwC.

Core Lithium jumps most since Jan 2021 on maiden annual profit

Mining News Pro - Shares in Core Lithium jumped more than 25% on Friday, set for their best day since January 2021 after the miner posted its maiden profitable annual results.

Sibanye braced for profit hit from lower prices, US output

Mining News Pro - South Africa’s Sibanye Stillwater on Friday said it expects its half-year profit to fall by as much as 53% due to weaker platinum group metal (PGM) prices and lower output from its US operations.

Gold Fields says new Chile mine on track as profit dips

Mining News Pro - Gold Fields said on Thursday it was on track to start producing gold at its Salares Norte project in Chile in the fourth quarter of this year, after reporting lower half-year profit on higher costs.

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