Spot rhodium prices have climbed to their highest levels in 20 months, driven by increased buying interest from Anglo American Platinum (Amplats) and tight first-quarter supply from South Africa. Prices have risen 20% this month, breaking above $5,000 per troy ounce before reaching $6,040 on Tuesday—the highest since June 2023—before retreating to $5,640 on Wednesday....
READ MOREPremiums for aluminum buyers in the U.S. physical market surged to record highs on Tuesday following President Donald Trump’s announcement that tariffs on Canadian aluminum would double to 50%. The increase, set to take effect Wednesday, comes in response to Ontario imposing a 25% tariff on electricity exports to the U.S. Physical aluminum transactions typically...
READ MOREFollowing a surplus in 2024, the global copper market is projected to enter a deficit in 2025 due to demand outpacing production growth, according to India Ratings and Research. Prior to 2024, the copper market experienced a five-year deficit. Shradha Saraogi, associate director at India Ratings and Research, highlighted that rising demand for copper and...
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 MOREThe World Platinum Investment Council (WPIC) has published its Platinum Quarterly report for Q4 2024 and the full year, providing an updated forecast for 2025. The platinum market recorded a significant deficit of 995 koz in 2024, exceeding earlier projections by 46%, as total demand surpassed 8 Moz for the first time since 2019. Strong...
READ MOREScientists from the Tokyo University of Science (TUS) have developed a low-cost palladium-based nanosheet catalyst that matches platinum’s efficiency in hydrogen production. This breakthrough aims to address the affordability challenges of large-scale hydrogen generation, which has traditionally relied on expensive platinum-based catalysts. The research, published in Chemistry – A European Journal, introduces bis(diimino)palladium coordination nanosheets...
READ MORERio Tinto has finalized its acquisition of Arcadium Lithium for $6.7 billion, following the approval of the Scheme of Arrangement by the Royal Court of Jersey on 5 March. Arcadium Lithium will now be rebranded as Rio Tinto Lithium and will include the Rincon lithium project as part of its portfolio. This acquisition strengthens Rio...
READ MOREPresident Donald Trump has directed the secretary of commerce to investigate national security risks posed by the United States’ increasing dependence on imported copper. The probe may lead to policy measures aimed at securing domestic copper supply, though experts warn that meeting demand without relying on imports poses a significant challenge. The U.S. Geological Survey...
READ MOREWieland Rolled Products North America, in partnership with Illinois Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO), has begun a $500 million modernization of its East Alton facility. The investment will retain 800 jobs in Illinois while enhancing production of critical copper and copper alloy components for electric vehicles (EVs),...
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 MOREChina has called on the United States to halt its investigation into potential new tariffs on copper imports, warning of retaliatory measures if Chinese entities are affected. The statement came after President Donald Trump directed the Commerce Department to launch a national security probe into copper imports under Section 232 of the Trade Expansion Act...
READ MOREAustralian iron ore mining company BHP is advancing with a $2 billion (A$3.16 billion) investment to optimize the concentrator at Escondida, the world’s largest copper mine. This is part of a broader $10.8 billion (10.18 trillion pesos) investment plan in Chile, according to a Reuters report. BHP plans to submit the investment plan for environmental...
READ MOREAluminum producer Alcoa has cautioned that U.S. President Donald Trump’s proposed 25% tariff on aluminum imports could lead to the loss of approximately 100,000 jobs in the United States. The company also stated that the tariff alone would not be sufficient to prompt it to increase production at its U.S. facilities. Trump announced earlier this...
READ MOREAlcoa has announced that its chairman, Steven Williams, will be leaving the company. Williams, who has served as chairman since 2021 and has been a board member since Alcoa’s separation from Arconic in 2016, will not seek re-election at the company’s annual shareholder meeting later this year. Williams is a veteran executive with decades of...
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 MORERussian President Vladimir Putin has extended an offer to the United States for joint exploration of Russia’s rare earth metal deposits and the supply of aluminium to the US market. The proposal outlines a potential economic partnership between the two countries. The announcement follows US President Donald Trump’s statement that “major economic development transactions with...
READ MOREA single entity has taken control of up to 90% of the available aluminum inventories on the London Metal Exchange (LME), amounting to approximately $505 million, according to LME data released on Monday. The identity of the party remains undisclosed, but such holdings are typically acquired by investors or traders seeking to capitalize on potential...
READ MOREU.S. oil giant Exxon Mobil is preparing to meet with Chilean officials to discuss potential lithium investments, according to a registry of lobbyist meetings and a source familiar with the matter. The move aligns with a broader trend of fossil fuel companies expanding into lithium production, a critical component for electric vehicle batteries. Exxon’s interest...
READ MOREEramine, part of the French group Eramet, has completed its first export of lithium carbonate from its operations in Salta province, Argentina. This milestone establishes Salta as a lithium-exporting province and marks Eramine as the fourth lithium project in Argentina to reach production status, following Fénix, Olaroz, and Caucharí-Olaroz. The initial shipment of 40 tons...
READ MOREThe company cited an “other expense” of $2.12 billion, a 67% increase from 2023, which included $445 million in foreign exchange losses, $295 million in legal and government proceedings, and $870 million in site rehabilitation provisions. Commodity price movements varied in 2024: Despite the loss, CEO Gary Nagle highlighted a strong operational year, with production...
READ MOREAnglo American has entered into a definitive agreement to sell its nickel business to MMG Singapore Resources, a subsidiary of MMG Limited, for up to $500 million. The transaction includes two ferronickel operations in Brazil—Barro Alto and Codemin—as well as two greenfield growth projects, Jacaré and Morro Sem Boné. The deal comprises an upfront cash...
READ MOREUkraine holds 23 of the 50 strategic materials identified as critical by the U.S. and 26 of the 34 recognized by the EU. Key resources include titanium, graphite, lithium, beryllium, and rare earth elements (REEs), essential for aerospace, defense, energy storage, and semiconductor manufacturing. Titanium and beryllium are crucial for aerospace and defense. Ukraine has...
READ MOREBHP announced that former National Australia Bank (NAB) CEO Ross McEwan will assume the role of chairman, succeeding Ken MacKenzie, who will step down on March 31. McEwan, a non-executive director at BHP since April 2024, previously led NAB and Royal Bank of Scotland. McEwan’s tenure comes at a time when BHP faces key decisions,...
READ MOREIndonesia has leveraged its vast nickel ore reserves to develop a domestic processing industry, a move aimed at increasing revenue and economic diversification. The country, which banned nickel ore exports in 2020, has since become the leading global producer of refined nickel, accounting for nearly half of the world’s supply in 2023. The export ban...
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