Abu Dhabi’s IRH Sets Sights on Majority Share in Zambia’s KCM
Abu Dhabi’s International Resources Holding (IRH), part of International Holding Company’s mining investment division, has proposed to acquire a substantial stake in Zambia’s copper industry. Two knowledgeable sources revealed to Reuters that IRH has presented an offer surpassing $1 billion for 51% of Konkola Copper Mines (KCM), a venture currently under the ownership of Indian magnate Anil Agarwal’s Vedanta Resources....
Aneka Tambang Set to Increase Production Across Key Commodities in 2024
Aneka Tambang has announced plans to ramp up production and sales across its primary commodities, signaling a robust approach to meet the rising demand expected in 2024, particularly for gold within Indonesia. The company has outlined specific targets for its ferronickel production, aiming for a 5% increase to 22,464 TNi, which marks an improvement over last year’s figures of 21,473...
Anglesey Mining Appoints New CEO to Advance Parys Mountain Project
Anglesey Mining announced today the appointment of Rob Marsden as the new Chief Executive Officer effective May 1, 2024. Marsden, a seasoned mining engineer with 29 years of international experience, will lead the development of the Parys Mountain Cu-Zn-Pb-Ag-Au VMS deposit in North Wales and oversee the company’s iron ore investments. Rob Marsden’s career began at the Camborne School of...
Umicore Introduces Nexyclus: A Comprehensive Recycled Precious Metals Offering
Umicore has launched Nexyclus, a comprehensive service offering fully-recycled precious metals, including platinum-group metals (PGM), with three distinct types of certifications. This initiative is presented as the broadest global offering of recycled precious metals, aimed at addressing resource scarcity and the growing demand for responsibly sourced, low-carbon footprint materials. Nexyclus will provide 100% high-quality recycled metals, initially featuring gold, silver,...
Alcoa Reports Q1 Financial Performance, Adjusts Full-Year Shipment Forecasts
Alcoa reported a first quarter adjusted loss per share of $0.81, which did not meet analyst expectations of a $0.64 loss per share. However, the company surpassed revenue forecasts with first quarter sales reaching $2.60 billion, compared to the anticipated $2.55 billion. The company’s adjusted EBITDA for the quarter stood at $132 million, again beating the analyst projections of $113...
Copper Prices Dip in Early Asian Markets Amid Various Economic Signals
Copper prices saw a decline in early Asian trading, with the LME 3-month copper contract falling 0.6% to $9,529.00 a tonne. Market analysts are closely watching China’s refined copper production data for March, expected to be released later in the day, which could influence trading dynamics. Additionally, recent production updates from BHP, which holds a majority interest in Chile’s Escondida...
EMP Metals Launches Lithium Extraction Pilot in Saskatchewan
EMP Metals today announced the launch of its Direct Lithium Extraction (DLE) Field Pilot Facility in Estevan, Saskatchewan. This marks the first deployment of the Koch Technology Solutions DLE pilot technology in Canada. The pilot facility is set to operate under conditions that mimic actual field operations, utilizing high-lithium concentration feed brine sourced from the Viewfield area. Recent tests in...
Eyes on Zambian Copper: Global Giants and Investors Weigh Bids
In the latest developments from the mining sector, sources report that several global entities are contemplating offers for shares in First Quantum Minerals’s copper operations in Zambia. Among the potential bidders are Rio Tinto Group and the sovereign investment firm Manara Minerals Investment Co. from Saudi Arabia. Well-known Japanese traders, Mitsui & Co and Sumitomo, are also reviewing the prospects...
BHP Sets Review Timeline for Nickel West Amid Market Challenges
Mining giant BHP has laid out a plan for a comprehensive review of its Nickel West operations, responding to the current subdued market for nickel. The reassessment, which has been in progress for some months, is part of the company’s broader strategy to determine the future path for its nickel assets, including the West Musgrave project obtained through the acquisition...
Sibanye Stillwater to Shut Marikana Shaft and Cut Jobs Amid PGM Price Dip
South Africa’s Sibanye Stillwater is set to close down its 4 Belt shaft at the Marikana mining operations, leading to the loss of 855 jobs. The decision comes as the shaft could not achieve a profitable run in the face of declining prices for platinum group metals (PGMs), according to a statement released by the company. The mining sector in...
Vizsla Copper Completes Acquisition of Universal Copper
Vizsla Copper and Universal Copper announced today the completion of their merger under the Business Corporations Act of British Columbia. This arrangement, initially disclosed on February 14, 2024, allows Vizsla Copper to acquire all issued and outstanding shares of Universal Copper. Shareholders of Universal Copper received 0.23 Vizsla Copper shares for each share they held. The Supreme Court of British...
China’s Aluminium Imports Leap Amid Recovery and Sanctions
China, the leading global consumer of aluminium, has recorded a significant surge in its imports of the metal, as shown by recent customs data. The General Administration of Customs reported that March saw an 89.8% increase in imports compared to the previous year, with 380,000 metric tons of unwrought aluminium and related products entering the country. The first quarter of...
BHP Group Reports Quarterly Production and Updates Fiscal Year Guidance
BHP Group today released its quarterly production report, showing a solid performance across its copper, iron ore, and energy coal segments. The company confirmed it is on track to meet its annual production targets for these key resources. Copper production rose by 10% due to strong outputs at the Spence and Escondida mines and enhanced grades and production at Copper...
Kedia Forecasts Silver to Surge in the Green Energy Era
Ajay Kedia, the director at Kedia Advisory, in a recent interview, projected a sharp increase in silver prices, predicting a rise to 150,000 rupees per kilogram in the next eighteen months. This uptick is attributed to escalating demands from industries pivotal to the green energy shift. Silver, traditionally driven by the photography sector, is now increasingly in demand for applications...
University of Nottingham’s Breakthrough in Hydrogen Production
A groundbreaking discovery at the University of Nottingham may pave the way for more cost-effective hydrogen production. Researchers have identified that the nano-textured surface found on metalworking chips—characterized by minuscule steps and indentations—provides an optimal environment for anchoring platinum or cobalt atoms. This finding has been pivotal in creating new, efficient electrocatalysts capable of splitting water into hydrogen and oxygen....
