According to the latest update from the U.S. Geological Survey (USGS), U.S. mines produced 84,100 metric tons of recoverable copper in November 2024. Average daily mine production remained at 2,800 metric tons, unchanged from October but 12% lower than in November 2023. Year-to-date mine output of recoverable copper through November 2024 totaled 948,000 metric tons,...
READ MOREEcoPro Innovation has signed a joint development agreement with Canadian power company Hydro-Quebec to advance next-generation lithium metal cathode technology. The agreement marks a significant expansion for EcoPro Innovation, moving beyond lithium processing into cathode material development and strengthening its position in the all-solid-state battery market. The signing ceremony took place at the InterContinental Hotel...
READ MOREShanghai copper prices outperformed other base metals on Wednesday, driven by expectations of increasing demand from China’s power and construction sectors. The most-active copper contract on the Shanghai Futures Exchange (SHFE) closed 2.08% higher at 79,410 yuan ($10,962) per metric ton, reaching an intraday high of 79,470 yuan—its highest level since September 30. According to...
READ MORELithium Americas has announced a strategic investment of $250 million from Orion Resource Partners LP to support the development and construction of Phase 1 of the Thacker Pass lithium project in Nevada. Orion has committed to purchasing senior unsecured convertible notes totaling $195 million and entering into a Production Payment Agreement (PPA) worth $25 million,...
READ MOREVale Overseas, a wholly owned subsidiary of Vale S.A., has announced the Total Consideration payable in connection with its previously disclosed cash tender offers for outstanding notes. The offer applies to a maximum aggregate principal amount of notes up to US$450,000,000, excluding any premium and accrued interest. The Offers are subject to the conditions outlined...
READ MOREIndonesia’s Ministry of Energy and Mineral Resources is weighing an increase in mining taxes across various minerals, including copper and coal, as part of a shift from fixed-rate royalties to a price-dependent structure. The proposal, outlined in a public consultation document released over the weekend, comes as the government seeks additional revenue to fund major...
READ MOREThe Aitik copper mine is experiencing production challenges due to high deposits of diorite, a particularly hard rock type, which is affecting mining operations as part of a new pushback. As a result, the production rate for the first quarter of 2025 is estimated to be just over 9 million tonnes, while full-year production is...
READ MOREThe lithium market is experiencing a sharp price drop due to increased global supply and weaker demand. In February 2025, lithium carbonate CIF North Asia prices fell below $10,000 per metric ton, marking a 4.5% decline to $9,550/t, the lowest level since February 2021. Analysts anticipate further production cuts throughout 2025 to stabilize the market....
READ MOREPursuit has reached a significant milestone in the development of the Rio Grande Sur Lithium Project, with the successful completion of hydrostatic circuit testing and the commencement of synthetic brine processing. This marks a key step toward commercial-scale lithium production. Pursuit Managing Director & CEO Aaron Revelle emphasized the importance of this achievement, stating, “Successfully...
READ MORESaudi Arabia has announced plans to attract approximately 375 billion riyals ($100 billion) in mining sector investments by 2035 as part of its Vision 2030 strategy to reduce dependence on oil revenues. The initiative was outlined by Khalid Al-Mudaifer, Deputy Minister of Industry and Mineral Resources for Mining Affairs, during the BMO Global Metals, Mining,...
READ MOREMidland Exploration, in partnership with Rio Tinto Exploration Canada (RTEC), has announced the launch of a second lithium drilling campaign at the Galinee project. Located approximately 5 kilometers east of the Adina lithium deposit owned by Winsome Resources, the project is wholly owned by Midland and is under an option agreement with RTEC, initially signed...
READ MOREAlcoa’s subsidiary, Alumina Pty. Ltd., has announced a proposed $1 billion offering of senior notes, according to a company news release on March 3. The notes will be guaranteed on a senior unsecured basis by Alcoa and select subsidiaries and will be offered in a private placement to qualified institutional buyers. The pricing and terms...
READ MOREPalladium prices have plummeted from a peak of approximately $3,440 per ounce in March 2022 to around $921 per ounce, significantly impacting profitability. As a result, Implats’ first-half profit fell 43% to 1.85 billion rand ($100.23 million), leading the company to halt dividend payments. Last year, Implats announced plans to reduce the lifespan of the...
READ MORERussian aluminium producer Rusal announced plans to establish a 1.5-tonne-per-year production facility for scandium, a rare-earth metal, with the potential to expand capacity to 19 metric tonnes annually. The facility will be located at the Bogoslovsky Aluminium Plant near the Ural Mountains, with production set to begin this year. The company has invested 500 million...
READ MOREThe Democratic Republic of Congo, the world’s leading producer of cobalt, has temporarily suspended exports of the metal due to a production glut. The export ban, announced on Monday by the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS), will remain in effect for at least four months. “This measure is...
READ MOREAnglo American and Chilean state-owned Codelco have signed a memorandum of understanding (MoU) to jointly develop adjacent copper mining projects in Chile. The partnership will establish a new entity to coordinate operations at the Los Bronces and Andina mines. The combined copper reserves from both sites account for 2% of global copper deposits, totaling 60...
READ MORETaseko Mines recorded revenues of $608 million in 2024, selling 108 million pounds of copper and 1.4 million pounds of molybdenum. Adjusted EBITDA for the year was $224 million, with earnings from mining operations before depletion and amortization at $244 million. Despite cost control measures, the company reported a net loss of $13 million ($0.05...
READ MOREPursuit Minerals has revised its phased development strategy for the Rio Grande Sur lithium project in Argentina, introducing a modular design to support scalable production growth from 5,000 tonnes per annum (tpa) to 15,250 tpa. In Phase 1, the company will relocate an existing 250 tpa lithium carbonate pilot plant to the site, enabling early-stage...
READ MOREBelgian recycling and smelting company Umicore reported a 22% drop in adjusted EBITDA for 2024, reaching 763 million euros. While the catalysts segment remained profitable, the battery materials business saw a significant downturn, and recycling profits also declined. The company forecasts its 2025 EBITDA to be between 720 million and 780 million euros, with catalysts...
READ MORECobalt is a critical material for electric vehicle (EV) lithium-ion batteries and energy storage systems, playing a key role in the global clean energy transition. With increasing market demand, understanding which countries hold economically viable cobalt reserves is essential for assessing future supply. According to the US Geological Survey (USGS), global cobalt reserves currently stand...
READ MORECorcel Exploration has provided an update on its Yuma King Copper-Gold Project in La Paz County, Arizona. The project spans 3,200 hectares with 515 unpatented federal mining claims in the Ellsworth Mining District, which includes the past-producing Yuma Mine. This mine operated from 1940 to 1963, yielding copper, lead, gold, and silver. The Yuma King...
READ MOREThe Democratic Republic of the Congo (DRC) solidified its position as the world’s second-largest copper producer in 2023 and is on track to expand production further. Having reached 3 million tonnes in 2024, the country is projected to increase copper output by at least 8% in 2025, according to a report by CRU Group. While...
READ MORELondon-based mining company Anglo American announced that it expects to finalize the demerger of Anglo American Platinum by June 2024. The company also confirmed that Anglo American Platinum has declared its final dividend for 2024, along with an additional cash dividend, totaling 16.5 billion rand ($0.9 billion). As a 67% stakeholder, Anglo American anticipates receiving...
READ MOREThe February issue of Metallosnabzheniye i Sbyt magazine features interviews with managing directors of Sayanogorsk and Khakassky aluminium smelters and the SAYANAL plant. Sergey Sorokin, Managing Director of SAYANAL, discussed the investment programme, production modernisation, and new projects. A key focus of Rusal’s investment programme is the agreement signed with the Government of the Republic...
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