LME bans Russian-origin metal after UK, US impose new sanctions
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply with new US and UK sanctions imposed for Russia’s invasion of Ukraine.
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Global coal power grew 2% last year, the most since 2016, survey says
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in China and decommissioning delays elsewhere, according to research published on Thursday.
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Peabody falls as production issues, weather crimp coal sales
Peabody Energy Corp. shares sunk to the lowest in seven months after the biggest US coal miner warned that first-quarter sales will be lower than expected due to production issues at mines in Australia and weak demand in the US.
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Trafigura is using late founder as scapegoat on bribes, son says
The family of Trafigura Group’s late founder Claude Dauphin has accused the trading house of using him as a “scapegoat” in its US corruption case, in an unprecedented public rebuke.
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Karelian says Finland asset likely to hold more coloured diamonds
Irish explorer Karelian Diamond Resources (AIM: KDR) said on Tuesday its search for precious stones in Finland has taken a significant step forward after finding signs of diamond bearing kimberlite in the same area where it previously unearthed a rare, pale green diamond.
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Fleet Space launches Centauri-6 satellite on SpaceX’s Bandwagon-1 mission
Australian space exploration company Fleet Space Technologies has successfully deployed its next-generation Centauri-6 satellite on SpaceX’s Bandwagon-1 mission, launched aboard a SpaceX Falcon 9 from Launch Complex 39A at the Kennedy Space Center in Florida on Sunday.
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49% growth in the sales of Nicico in the first eleven months of 1402
Mining News Pro - Amir Khormishad, the CEO of the National Copper Industries Company of Iran, announced the 49% growth of the company's sales in the first eleven months of this year, compared to the same period last year in the capital market, and the realization of the plans formulated in the eleven months of the company's production performance.
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Deutsche Bank says Glencore may weigh listing move to US
Glencore Plc may consider switching its primary listing from London to New York, analysts at Deutsche Bank AG predicted, in what would be the most high-profile exit from the UK exchange to date.
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Russia confirms deal to buy part of Alrosa’s output
Russia will regularly buy diamonds from sanctions-hit producer Alrosa through a state fund, the finance ministry said on Thursday, a move that suggests Western restrictions on Russia’s diamond exports may be having some impact.
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US talks often with Congo’s Gecamines on cobalt and copper, official says
The United States speaks regularly with the Democratic Republic of Congo’s state miner Gecamines, a senior State Department official told Reuters, as Washington seeks to deepen relationships with key suppliers of cobalt and copper across the African continent.
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Canada watchdog says abuse likely occurred at a Dynasty Gold mine in China
Canada’s corporate ethics watchdog on Tuesday said it was likely that human rights abuses had occurred at a mine in China operated by Vancouver-based firm Dynasty Gold.
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Commodities will rally when the Fed cuts rates, Invesco says
Commodities usually rally when central banks cut interest rates, bolstering the case for going long raw materials in the coming months, according to Invesco Ltd.
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China’s younger steel industry slows net zero path, BHP CEO says
China’s steel industry is young compared to Europe’s, and its transition to net zero may be slower as it takes a different path to reach government-mandated decarbonization goals, according to BHP Group Ltd.’s chief executive officer Mike Henry.
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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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Russian diamond ban creates costly delays, Antwerp diamond dealers say
Antwerp’s diamond dealers face long and costly delays following an EU ban on Russian-origin diamonds that took effect on March 1 and has slowed imports, they say in a letter seen by Reuters.
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Wyloo says industry will turn from LME without green nickel
Nickel miner Wyloo, owned by Australian mining magnate Andrew Forrest, said that if the London Metal Exchange (LME) doesn’t launch a green nickel contract, the industry will have to look for another trading venue.
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Indonesia understates methane emissions from mining, report says
Methane emissions from Indonesia’s expanding coal mining sector are significantly underreported, jeopardizing the nation’s international climate commitments, according to new analysis from energy think tank Ember.
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Peru copper output seen growing to 3mt in 2024, minister says
Peru’s copper production should reach 3 million metric tons this year after hitting 2.76 million tons in 2023, energy and mining minister Romulo Mucho said in a news conference on Friday.
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China coal group says peak demand imminent as clean power grows
China is rapidly approaching peak coal consumption, but the fossil fuel’s role in helping to address energy security concerns means its use will plateau for some time after that, according to the nation’s top industry association.
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Polymetal shareholders approve sale of Russian assets
Shareholders of precious metals producer Polymetal International approved the sale of its Russian assets to a Siberian gold miner, the company said on Thursday.
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Rio Tinto says checking impact of gas pipeline incident on Gladstone operations
Rio Tinto said on Thursday it had been notified of an incident at its Queensland gas pipeline, which Australian media had earlier said was a fire that had impacted supplies.
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First Quantum’s Panama mine closure to cost around $800m, minister says
The cost of the closure of Canadian miner First Quantum’s copper mine in Panama is estimated at around $800 million, Trade and Industry Minister Jorge Rivera said on Wednesday.
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Movasaghi Nia visited Gohar Sirjan water transfer reservoir
Mining News Pro - This morning, the head of Imidro's board of directors visited the water transfer line and reservoir from the Persian Gulf to Sirjan.
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Visit: 44
Closure of First Quantum’s Panama mine seen around $800m, minister says
The cost of the closure of Canadian miner First Quantum’s copper mine in Panama is estimated around $800 million, Trade and Industry Minister Jorge Rivera said on Wednesday.
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Visit: 75
London gold price benchmark hits all-time high, LBMA says
London’s gold price benchmark hit an all-time high of $2,098.05 per troy ounce at an afternoon auction on Monday, surpassing the previous record of $2,078.40 set on Dec. 28, the London Bullion Market Association (LBMA) said.
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