China’s major copper smelters have begun extensive equipment maintenance in March, a period typically marked by peak demand, as they struggle with a worsening shortage of copper concentrate. This unusual timing underscores the severity of the challenges faced by the industry, which is grappling with overcapacity and plunging treatment and refining charges (TC/RCs). According to...
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London Metal Exchange (LME) zinc futures climbed nearly 3% last week, closing at $2,972.5 per metric ton, as supply concerns intensified following a planned production cut by Nyrstar, one of the world’s largest zinc smelters. Nyrstar announced it will reduce output at its Hobart zinc smelter in Australia by 25% starting in April 2025. The...
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Novelis announced on Thursday that it has successfully produced the world’s first aluminium coil made entirely from 100% recycled, end-of-life automotive scrap. The development marks a major step forward in sustainability and circular manufacturing for the European automotive sector. The new aluminium material meets the rigorous industry standards for surface quality and formability, making it...
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Rusal has reached an agreement with Indian firms Pioneer and KCap to acquire a stake in Pioneer Aluminium Industries, an alumina producer. The deal will see Rusal’s subsidiary purchase up to 50% of the company’s shares in three stages. According to a filing on the Hong Kong Stock Exchange, Rusal will acquire an initial 26%...
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Teck Resources Limited announced a $40 million USD equity investment in Bunker Hill Mining Corp. on March 6, aiming to reinforce the North American critical minerals supply chain. The investment will secure a reliable source of high-quality, cost-competitive zinc and lead concentrate from Idaho’s Silver Valley for Teck’s Trail operations in British Columbia. The funding...
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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,...
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EcoPro 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...
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Shanghai 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...
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Lithium 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,...
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Vale 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...
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Indonesia’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...
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The 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...
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The 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....
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Pursuit 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...
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Saudi 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,...
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Midland 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...
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Alcoa’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...
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Palladium 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...
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Russian 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...
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The 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...
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Anglo 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...
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Taseko 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...
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Pursuit 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...
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Belgian 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...
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