Anglo American Platinum Reports Decrease in PGM Production for Q1 2024
On April 23, 2024, Anglo American Platinum provided a quarterly update for the period ending March 31, 2024, showing a 7% decrease in total Platinum Group Metals (PGMs) production compared to the first quarter of 2023. The production amounted to 834,100 ounces, attributed to various operational challenges. The report highlighted a reduction in output from the company’s own-managed mines, notably...
Nornickel to Relocate Copper Smelting Operations to China Amid Equipment Challenges
Nornickel is mulling a transfer of copper smelting operations from Norilsk to China. This strategic decision arises from mounting difficulties in modernizing facilities with Western equipment, influenced by the current geopolitical climate. Nornickel’s president, Vladimir Potanin, in an Interfax interview, detailed that the joint venture with a Chinese partner aims to mitigate financial and logistical setbacks linked to Western sanctions,...
Boliden, Epiroc, and ABB Reach Milestone in Mine Electrification in Sweden
Boliden, Epiroc, and ABB have achieved an advancement in the mining industry’s move towards electrification with the successful deployment of the first fully battery-electric trolley truck system. This system, which was tested on an 800-meter-long underground track with a 13% incline at Boliden’s Kristineberg mine in northern Sweden, represents a critical step toward the development of an all-electric mine. The...
Spot Gold Experiences Significant Decline Amidst Geopolitical Stability and Hawkish Fed Stance
In a notable market shift, spot gold plunged nearly $65, marking one of the largest single-day declines in over a year. This drop saw gold fall below the crucial $2,330 per ounce mark, closing at $2,327.18 per ounce, a decrease of 2.72%. According to FXStreet analyst Christian Borjon Valencia, the sharp decrease in gold prices can be attributed to reduced...
KGHM Reports Downturn in Copper and Precious Metals Sales for March
KGHM, a leading global copper producer, has released its preliminary production and sales results for March, indicating a downturn in several key commodities. The group reported that copper sales fell by 5% year-over-year to 62.9 thousand tonnes, while payable copper production also declined by 2%, reaching 61.7 thousand tonnes. The company experienced a similar trend in its silver operations, with...
Midland Exploration Expands Partnership with Rio Tinto Exploration Canada with the Addition of Wookie Project
Midland Exploration has amended its existing option agreement with Rio Tinto Exploration Canada (RTEC), effective April 22, 2024, by incorporating the Wookie project into the agreement originally established in June 2023. The Wookie project, situated in the lithium-rich Eeyou Istchee James Bay area of Quebec, adds significant potential to the collaboration, expanding the total covered area to approximately 1,139 square...
Freeport-McMoRan Surpasses Revenue Expectations with Strong Copper and Gold Demand
Freeport-McMoRan, the prominent Phoenix-based miner, has reported a robust start to the year with first-quarter revenues exceeding expectations, driven largely by heightened demand for copper and gold. Despite a decline in net income from the previous year, the company’s financial performance highlighted strong operational results and favorable market conditions. For the quarter ending March 31, Freeport-McMoRan posted net income attributable...
Rusal Takes a Sustainable Step Forward with Aluminum Scrap Processing at KrAZ
For the first time in its history, the Krasnoyarsk aluminum smelter (KrAZ), owned by Rusal, has processed a significant batch of aluminum scrap into primary aluminum. This milestone reflects a pivotal shift in production practices, emphasizing sustainability within the industry. The processed batch, though modest at 60 tonnes, marks a crucial step for Rusal in integrating recycled materials into its...
Rio Tinto Launches Lithium and Rare Earth Metals Exploration in East Kazakhstan
Rio Tinto Exploration Kazakhstan, a division of the major Australian-British mining firm Rio Tinto, has embarked on an ambitious geological exploration project in the Kalba South-West area of Ulan district, East Kazakhstan region. The focus of this extensive exploration is the identification and delineation of areas promising for the discovery of a substantial lithium deposit, which is critical for the...
Hammerer Aluminium Industries and LS Cable & System Initiate Construction of New Facility in South Korea
Hammerer Aluminium Industries, in partnership with LS Cable & System, has commenced the construction of a new production hall in Gumi, South Korea. The ceremony marking the beginning of this construction took place on April 17, 2024, signifying a major step in their joint venture. The new facility, which involves an investment of 46 million euros, will span 13,800 square...
Revolutionary Metal Alloy Unveiled with Unprecedented Fracture Resistance
Material scientists have unveiled a groundbreaking discovery in the field of metallurgy, as detailed in a recent publication in the journal *Science*. The newly developed alloy, composed of niobium, tantalum, titanium, and hafnium, demonstrates properties that were once thought to be unachievable, boasting extraordinary strength and impact toughness across a broad temperature range. This novel alloy belongs to a category...
Anglo American Adjusts Diamond Production Forecast Amid Output Shifts
Anglo American has revised its diamond production guidance downward following a significant drop in output during the first quarter, although this was somewhat balanced by increases in copper and coal production. On Tuesday, the mining conglomerate reported that diamond production had fallen by 23% to 6.9 million carats, leading to a revised full-year forecast of 26 million to 29 million...
India to Auction Rare Earth Minerals to Meet Growing Domestic Demand
India is set to hold a significant auction in June, offering 20-30 blocks of strategically important minerals as the country’s demand for essential resources continues to surge. Kantha Rao, the Secretary of the Ministry of Coal and Mines, highlighted this initiative in discussions with the *Financial Times*, noting the auction’s crucial role in meeting India’s technological, economic, and climatic targets....
Canterra Minerals Reports High-Grade Copper Findings at Victoria Project in Newfoundland
Canterra Minerals Corporation has disclosed promising prospecting results from its Victoria Project located in central Newfoundland. Initial findings include significant copper grades in samples collected from the site, with one sample from angular float showing a copper content of 18.65%, and another from an outcrop registering 6.8%. The Victoria Project is strategically placed within the Central Newfoundland Mining District, close...
Emerita Resources Advances Metallurgical Testing at Iberian Belt West Project
Emerita Resources has updated its progress on the metallurgical testing program for its Iberian Belt West project (IBW), aiming to produce commercial grade concentrates. Preliminary results have demonstrated that the IBW can yield base metal concentrates using conventional methods, with recovery rates comparable to other operations in the Iberian Pyrite Belt. David Gower, CEO of Emerita, highlighted the promising initial...
Russia Discusses Support for Rusal Amid Global Sanctions and Trade Adjustments
Russian authorities are actively considering measures to support Rusal, the nation’s leading aluminium producer, amid sweeping sanctions and global market shifts, according to Deputy Industry and Trade Minister Viktor Yevtukhov. Speaking at the “Innoprom. Central Asia” exhibition, Yevtukhov highlighted the minimal impact of the recent US and UK sanctions on Russia’s aluminum exports, noting that the quantities previously sold to...
European Energy Metals to Begin Gold Exploration in Northern Finland
European Energy Metals has announced that it will start gold exploration activities in May on its portfolio in Northern Finland. The company holds five mineral reservations covering approximately 300,000 hectares primarily within the Central Lapland Greenstone Belt (CLGB), a region known for its rich deposits of gold and base metals. The exploration will take place in an area of the...
