Chinese miners eye overseas deals after battery metals slump
Battery metal prices are on the floor, and massive expansions by Chinese miners have been instrumental in driving them lower. Now, with many Western rivals cutting output or shutting down entirely, they want to get even bigger.
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Northvolt starts battery plant work in win for Europe’s industry
Northvolt AB is starting construction of a €5 billion ($5.4 billion) battery plant in northern Germany to supply electric cars, capping an intense lobbying effort under newly relaxed European Union state aid rules.
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Visit: 24
Cocoa is more expensive than copper as it tops $9,000
Cocoa extended its surge — gaining more than $700 per ton in a single day and surpassing $9,000 for the first time ever — as a supply crunch grips the market and chocolate makers grapple for beans.
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Visit: 23
Iron ore price edges higher on hopes of China’s demand recovery
Iron ore futures edged higher on Monday, supported by hopes of further recovery in demand in top consumer China and Beijing’s pledge to support its struggling property market.
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Visit: 24
Iron ore hit by fresh selling as traders fret over China demand
Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese demand. Base metals also fell.
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Visit: 24
Africa to play ‘huge role’ in US critical mineral strategy, says Treasury’s No. 2
The United States is looking to Africa to help loosen a Chinese stranglehold on battery metals and reduce Russia’s influence over the market for other minerals, US Deputy Treasury Secretary Wally Adeyemo said on Thursday.
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A golden reopening for Bellevue
Western Australian Mines and Petroleum Minister David Michael attended the formal opening of Bellevue Gold’s namesake mine yesterday.
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Visit: 61
Gold output falls in Burkina Faso as terrorist attacks increase
Gold production in Burkina Faso declined last year as deteriorating security conditions in the West African nation forced some mines to shut.
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Visit: 56
Fleet Space, Stanford University’s Mineral-X team up to advance space-enabled climate innovation
Australia-based Fleet Space Technologies, developer and operator of microsatellites, announced Monday that it has been named an industrial affiliate of Stanford University’s Mineral-X program — a research organization combining expertise in geoscience, resource optimization and artificial intelligence (AI) to enable a decarbonized mineral supply chain.
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Visit: 76
Northam CEO says South African platinum miners facing worst crisis in decades
Northam Platinum’s CEO said on Friday that platinum mining companies in South Africa, the world’s top supplier of the metal, are facing “severe” market conditions and are caught up in the worst crisis in three decades as prices plummet.
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Visit: 104
Anglo spinoff breeds fish to restock rivers after massive toxic spill
In a South African first, a project funded by one of the country’s biggest coal mining companies has begun repopulating a river system with fish after a catastrophic spill from a disused coal mine.
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Oil and gas upstream M&A deal value hits highest Q1 levels since 2017
An ongoing consolidation in the US shale industry has driven up global M&A deal value in the oil and gas exploration sector to its highest first-quarter level in seven years, industry experts said.
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Visit: 107
Nippon Steel’s China assets raise concerns over US deal
President Joe Biden’s administration is examining Nippon Steel Corp.’s connections to China, people familiar with the matter say, a potential stumbling block for the Japanese giant’s politically contentious deal to acquire American rival United States Steel Corp.
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Visit: 147
Osino-Dundee deal falls through after third-party superior bid
Canada’s Dundee Precious Metals is walking away from its proposed takeover of Osino Resources after the target company said on Monday it had received a superior offer from a foreign-based mining company.
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Visit: 90
Polymetal to drop out of top 10 gold miners on Russia sale
Polymetal International Plc will no longer rank among the world’s top 10 gold miners by output after the sale of its Russian business, which was sanctioned by the US last year due to the invasion of Ukraine.
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Visit: 85
Guinea talks carbon tax on mines as it seeks $4.3 billion loans
Guinea is planning to introduce a carbon tax on mining companies as it started talks with United Arab Emirates investors to raise $4.3 billion to fund development projects.
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Visit: 165
Palladium price heads for biggest one-day gain in two months on short covering
Palladium rose by 8% on Wednesday, regaining a premium against its sister metal platinum, as some investors covered their short positions after the volatile metal held above the $900 level.
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Visit: 101
Canada to accelerate critical mineral mining
Canada plans to boost its energy security by slashing the time it takes to develop new critical mineral mines by nearly a decade with improved permitting processes, energy minister Jonathan Wilkinson told Reuters on Tuesday.
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Visit: 195
BHP supports women and children in need
BHP has shown up to support vulnerable women and children with a $CAD500,000 ($571,050) donation to the YWCA Saskatoon Hope Lives Here campaign.
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Visit: 92
Uranium developers say supply jolt is boosting new projects
Uranium project developers see a stronger outlook for prices and supply pacts after the world’s top producer of the nuclear fuel jolted the market with output cuts.
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Visit: 157
Rare earths prices seen rebounding in second half of 2024
Rare earth prices have likely bottomed out and are poised to rise later this year on demand from electric vehicles (EVs) and wind powerand as dominant producer China is expected to pull back on expanding output quotas, analysts said.
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Visit: 110
Vietnam rare earths output drops as China’s grows, US says
The US geological agency has sharply revised down estimates on Vietnam’s rare earths output and expects a further drop despite its rich resource base, according to an annual report, which showed a rise in dominant producer China’s output.
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Visit: 96
Metals sanctions are dividing the biggest traders and banks
The latest UK sanctions on Russia are creating new faultlines across the global metals world, in the latest example of how the fallout from the war in Ukraine continues to ripple through commodity markets while creating opportunities for those willing to navigate the restrictions.
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Visit: 203
Uranium stocks extend surge after Kazakh miner cuts output
Uranium miners extended a rally that’s made them the best-performing Australian stocks this year after the world’s biggest producer of the metal used to produce nuclear fuel cut its output target.
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Visit: 91
Australia’s resources minister seeks investment from Korea, Japan
Australia’s resources minister has begun a week long trip to South Korea and Japan to discuss gas exports and critical minerals opportunities, as its government on Monday released a “prospectus” of 52 investment ready critical minerals projects.
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Visit: 180