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.
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Brazil’s Lula slams miner Vale over 2019 Brumadinho disaster
Brazilian President Luiz Inacio Lula da Silva on Thursday criticized mining giant Vale for “not having done anything to repair the destruction” caused by the collapse of a tailings dam in Brumadinho in 2019.
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Buenaventura stock surges as Antofagasta takes 19% equity position
Mining News Pro - Buenaventura saw its shares surge in New York after the Peruvian miner disclosed that Chilean multinational Antofagasta plc has acquired an approximate 19% equity stake in the company.
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Renewable-energy analysis startup Orennia raises $19 million in funding
Mining News Pro - Orennia Inc. has raised C$25 million ($19m) in a funding round that its CEO says could allow the green-energy analysis startup to double in size over the next 12 months.
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Boliden partially restarts Ronnskar production after fire, to lay off 190 people
Mining News Pro - Boliden has partially resumed production at its Ronnskar smelter after output was halted following a fire at the facility in mid-June, the Swedish miner said on Friday.
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Newcrest Mining accepts $19.2 billion Newmont takeover deal
Mining News Pro - Newcrest Mining Ltd. has agreed to a takeover deal with Newmont Corp. worth about A$28.8 billion ($19.2 billion) to create the world’s biggest gold producer.
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Hurdles loom for Newmont’s $19.6 billion bid for Newcrest
Mining News Pro - Newmont Corp’s A$29.4 billion ($19.6 billion) offer for Australia’s Newcrest Mining faces hurdles including winning approvals from shareholders and regulators, and the full backing of the target’s board, analysts said on Wednesday.
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Midhco held their 195th production meeting
Mining News Pro - The 195th production meeting in Midhco has been held simultaneously in Tehran, Kerman and Isfahan.
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GM prepaying Livent $198 million for guaranteed lithium supply
Mining News Pro - General Motors Co is prepaying Livent Corp $198 million for a guaranteed six-year supply of lithium, a deal that reflects the auto industry’s rising worry about a tightening market for the electric vehicle battery metal.
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Covid-19 outbreak hobbles Chinese demand for cobalt, nickel
Mining News Pro - China’s Covid-19 outbreak is suppressing the country’s consumption of cobalt, nickel and lithium by disrupting transportation and cutting battery manufacturing, state-backed research house Antaike said.
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Vale first-quarter net profit falls 19.6%, but beats expectations
Mining News Pro - Brazilian miner Vale, one of the world’s largest producers of iron ore, reported on Wednesday its first-quarter net profit fell 19.6% to a better than expected $4.45 billion as stronger pricing offset weaker production numbers.
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Copper price down on China’s covid-19 worries
Mining News Pro - The copper price retreated on Friday as the number of covid-19 cases rose in China, making investors nervous about the country’s economic recovery.
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Copper price rises despite covid-19 worries in China
Mining News Pro - The copper price rose on Monday despite China’s spreading lockdowns.
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6 key drivers shaping China’s steel market amid the latest COVID-19 surge
Mining News Pro - China's steel production is expected to rise in April, but supply chain disruptions and logistics hurdles across may parts of the country could continue to undermine end-user steel demand.
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Iron ore price slumps on covid-19 restrictions in China
Mining News Pro - The iron ore price fell on Monday, tracking lower raw material prices as still stringent covid-19 related measures in China dented market sentiment and fuelled worries that the recovery in the world’s second-largest economy might lose steam.
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Gold price drops from 19-month high with risk sentiment improving
Mining News Pro - Gold fell from near a 19-month high on Wednesday as risk sentiment in the global markets improved, despite ongoing concerns surrounding Russia’s invasion of Ukraine.
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Silver-enhanced disinfectant has long-lasting effects against covid-19
Mining News Pro - Researchers at the University of Central Florida are using an engineered nanostructure called cerium oxide modified with small amounts of silver to produce a disinfectant that can continuously kill viruses on a surface for up to seven days.
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Mining has helped Australia weather the COVID-19 storm
Mining News Pro - Federal Minister for Resources and Water Keith Pitt explores the strength of Australia’s pandemic-struck mining and resources sector.
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NICICO: 119% jump in sales in the first 5 months
Mining News Pro - Chief executive of National Iranian Copper Industries Co. claimed that sales of this company increased by 119% in the first 5 months compared to the same period last year.
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NRW excited by METS growth despite COVID-19 impact
Mining News Pro - NRW Holdings is excited by its METS capabilities going forward as the company makes its move into lithium and hydrogen energy sectors.
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COVID-19 scare temporarily shuts Boggabri mine
Mining News Pro - Idemitsu has confirmed a worker returned a positive COVID-19 test at its Boggabri coal mine in New South Wales, before further testing revealed the case was a false positive.
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Australian exploration shrugs off COVID-19
Mining News Pro - Gold and silver have attracted almost half of Australia’s exploration expenditure in the June quarter of 2021, according to a report from Austex.
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Fortescue worker returns positive COVID-19 test
Mining News Pro - The Western Australian Department of Health has advised Fortescue Metals Group that a maintenance contractor at its Cloudbreak site has returned a weak positive test result for COVID-19.
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High metal prices, covid-19 increase miners’ exposure to cyberattacks
Mining News Pro - As metal prices are hovering around all-time highs and mining companies are enjoying some of their best years with exceptional margins – a resilience that is expected to continue through 2021 – Fitch Solutions Country Risk & Industry Research published a report highlighting how this scenario increases the importance of cybersecurity defence in the mining industry.
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Civil unrest in South Africa, covid-19 may push cobalt prices up
Mining News Pro - Civil unrest in South Africa, a third wave of covid-19 and supply curbs in the Democratic Republic of Congo may push cobalt prices up to $25 per pound through 2021 from the current average of $23.94 per pound, according to a new report published by Fastmarkets.
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