Analysts are increasingly optimistic about the future of copper prices, driven by recent developments in China and the metal’s essential role in the global transition to greener energy sources. The consensus among market experts suggests that we are on the cusp of a significant upward trajectory for copper prices, bolstered by a unique confluence of supply constraints and solid fundamental...
Staff Writer
Global Refined Copper Production and Usage See Notable Increases in January
According to the latest update from the International Copper Study Group, the global copper mining sector witnessed a 2.5% increase in production during January 2024, with concentrate production rising by 2% and solvent extraction-electrowinning (SX-EW) seeing a more significant boost of 4.5%. The month also recorded a roughly 5% uptick in world refined copper production, fueled by a 4.5% increase...
Century Aluminum to Revolutionize US Aluminum Industry with $500 Million DOE Support
Century Aluminum has recently been spotlighted by the US Department of Energy (DOE) as the recipient of up to $500 million in financing. This significant financial support is earmarked for the construction of a groundbreaking green aluminum smelter, marking a monumental stride in the US aluminum industry. Announced on Monday, this funding initiative positions Century Aluminum at the forefront of...
Vedanta Announces $6 Billion Investment Strategy to Drive Substantial Growth
Vedanta, a leading mining conglomerate, is setting the stage for significant growth with a $6 billion investment across its diverse portfolio of businesses, which include aluminium, zinc, iron ore, steel, and oil and gas. This strategic investment aims to bolster the company’s annual EBITDA by at least $2.5 billion. Executives disclosed these ambitious plans during a recent investor meeting, highlighting...
Pilbara Minerals and Ganfeng Lithium Explore Joint Venture for Lithium Conversion Facility
Australia’s Pilbara Minerals, in partnership with Chinese firm Ganfeng Lithium, has announced plans to conduct a feasibility study on the potential construction of a lithium conversion facility, capable of producing 32,000 metric tons of lithium carbonate or hydroxide annually. The study’s completion is targeted for the March quarter of 2025, with the location of the plant yet to be determined....
Yonggang and CITIC Metals Forge Ahead with Strategic Niobium Cooperation in 2024
Yonggang Group and CITIC Metals marked a significant milestone in their longstanding partnership by signing a strategic cooperation agreement on Niobium products for 2024. The ceremony, held on March 13th at the Yonglian Council Chamber, was attended by notable industry leaders, including Mr. Zhang Wei from CITIC Metal, Mr. Jefferson from CBMM China, alongside Mr. Hu Junhui and Mr. Chen...
Rosatom Initiates Lithium Exploration and Processing in Edo State
Rosatom, a leading nuclear energy corporation in Europe, has embarked on lithium exploration activities in Edo State, Nigeria, following approval from the state government to establish a lithium processing plant. Enaholo Ojiefoh, the Commissioner of Mining and Energy, revealed in a discussion with journalists in Benin City that Rosatom’s team has been conducting exploration since October 2023. The state has...
European Imports of Russian Crude Aluminium Surge in January
January 2024 witnessed a significant shift in the dynamics of crude aluminium imports from Russia to European countries, marking a 66% increase over December’s figures, as reported by the EU Statistical Service. The total imports amounted to 26,253.2 tonnes, despite being 48% lower than the previous year’s figures. Notably, shipments to certain countries like Germany, Greece, and Poland saw reductions,...
Albemarle Aims for Greater Lithium Price Transparency with Auctions
Albemarle, standing as the globe’s leading lithium producer, has unveiled its plan to host a series of auctions for its lithium products on the Metalshub digital trading platform. The inaugural auction, featuring 10,000 metric tons of spodumene ore, is set for March 26, aiming to enhance price discovery and ensure a transparent, equitable process for all involved parties. This move...
K92 Mining Announces Suspension of Underground Operations at Kainantu Gold Mine
K92 Mining has reported a temporary halt to underground operations at its Kainantu Gold Mine following an incident on March 10, 2024, which resulted in the death of an employee. The company clarified that the incident, occurring within the mining lease, is considered non-industrial and suspicious, prompting an immediate pause in processing operations for three days, although stockpile processing has...