Miners seek exemption from Canadian tax hike to save equity deals
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains taxes, warning the hike will make it harder for junior miners to raise money to find new mineral deposits.
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Visit: 36
China’s central bank adds more gold to its reserves in April
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, extending the period of consecutive purchases to 18 months despite high gold prices.
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Visit: 44
A leadership battle is brewing at deep sea mining’s regulatory body
The secretary-general of the International Seabed Authority is set to run for a third term leading the United Nations-affiliated organization that regulates deep sea mining, as control of mineral resources used to make electric car batteries becomes a focus of US-China rivalry.
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Visit: 47
First Quantum hopes new Panamanian leader brings fresh look to disputed copper mine
First Quantum Minerals said on Monday it is looking forward to talks with Panama’s new government to find a resolution to the Canadian company’s disputed Cobre Panama mine.
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Visit: 35
Gold price advances as investors weigh mixed signals on US economy
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the Federal Reserve fights inflation.
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Visit: 41
Adani flagship’s profit drops, gets queried by Indian regulator
Adani Enterprises Ltd., which posted a 38% fall in quarterly profit, said India’s markets regulator has queried it about possible violations.
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Visit: 48
Barrick’s Mali mine feeds Russian war machine, advocacy group says
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ties to Russia.
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Visit: 41
Glencore now sees FY trading division profit between $3bn-$3.5bn
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an elevated interest rate and high commodity price environment, it said on Tuesday.
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Visit: 49
Anglo’s stumbles have made it prey for mining’s biggest predator
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the century-old miner. Metals prices soared as the world emerged from lockdowns, the company had recently posted its best-ever annual profit and the popular industry veteran was handing over to a trusted lieutenant. Anglo stock hit a record the same day.
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Visit: 54
Mining stoppage adds to Eramet’s New Caledonia woes
Eramet subsidiary SLN’s nickel mining operations in northern New Caledonia have been suspended, adding to difficulties at the loss-making business that saw a slide in first-quarter output.
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Visit: 26
E-haul trucks could result in major savings for miners but adoption is slow
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the replacement of diesel with cheaper electricity, as these vehicles have the most intensive duty cycles of any vehicle in a mine.
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Visit: 64
Codelco defends lithium deal ahead of SQM shareholder meeting
Chile’s state copper company Codelco defended its proposed lithium production tie-up with SQM in response to criticism that the negotiation process has been opaque.
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Visit: 65
LME takes aim at traders’ Russian metal games with new rules
The London Metal Exchange is imposing new rules surrounding the movement of metal in its warehousing network, taking aim at a lucrative and complex trading opportunity that emerged after the imposition of sanctions on Russian metal earlier this month.
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Visit: 63
Airbus wins reprieve from Canadian sanctions on Russian titanium
Canada has granted Airbus a waiver to allow it to use Russian titanium in its manufacturing after becoming the first Western government to ban supplies of the strategic metal in the latest package of measures triggered by the war in Ukraine.
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Visit: 89
Adriatic Metals takes over as operator of Bosnian silver mine
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares silver mine in central Bosnia.
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Visit: 88
Zinc price trades near one-year high as market weighs supply risks
Zinc traded close to a one-year high as metals markets looked past delays to US monetary easing to focus on looming supply risks.
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Visit: 87
Protesters blockade Peru’s Las Bambas mine after talks fall through
Peru’s Las Bambas copper mine, owned by China’s MMG, is facing renewed blockades of a key transport route after failed talks over donations to local development projects, a community leader said on Wednesday.
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Visit: 72
Vitol CEO confirms energy trading giant is getting into metals
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with an “exciting decade” ahead.
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Visit: 80
Two workers dead at Newmont’s Cerro Negro mine in Argentina
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the Santa Cruz region of Argentina.
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Visit: 117
Graphjet Technology to build agricultural waste-to-graphite production plant in Nevada
Graphjet Technology, a Malaysia-headquartered developer of technologies to produce graphite and graphene directly from agricultural waste, announced Monday it plans to build a commercial artificial graphite production facility in Nevada.
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Visit: 78
Lithium trading hits record on CME as funds seize budding market
Trading of CME Group Inc.’s nearly three-year-old lithium hydroxide futures contract is soaring, with more funds crowding into the budding market as prices of the battery metal falter.
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Visit: 87
Iron ore price swings near $100 as traders mull fragile China recovery
Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic recovery may be starting to gain traction countered weakness in the steel market.
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Visit: 93
Iron ore price swings near $100 as traders mull fragile China recovery
Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic recovery may be starting to gain traction countered weakness in the steel market.
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Visit: 72
Canada’s mild winter disrupts key ice road to remote Arctic diamond mines
An unusually warm winter in Canada this year has delayed the opening of a 400-kilometer (250-mile) ice road that is rebuilt every year as the main conduit for Rio Tinto, Burgundy Mines and De Beers to access their diamond mines in the remote Arctic region.
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Visit: 89
Shanghai copper heads for biggest monthly gain in 16 months
Shanghai copper prices were little changed on Friday, but poised for their biggest monthly gain in 16 months amid prospects of lower supply.
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Visit: 101