The Yerevan-based Armenal foil-rolling plant, a subsidiary of the global aluminum giant RUSAL, has reached a significant milestone by producing its 500,000th tonne of aluminum products since beginning operations in May 2000. This achievement underscores the plant’s position as a leader among Armenian industrial producers and exporters, despite facing a series of challenges and market fluctuations. The plant’s production efficiency...
Staff Writer
European Energy Metals Secures 100% Ownership of Finnish Lithium Project
European Energy Metals has finalized an agreement with Capella Minerals Ltd. to acquire full ownership of the Finnish Pegmatite Project, enhancing its position in the lithium exploration sector. This new arrangement supersedes a previous earn-in agreement, granting European Energy Metals complete control over the project without further obligations to Capella. As part of the acquisition terms, European Energy Metals will...
Zhetysu Tungsten Embarks on Tungsten Mining at Bugytinskoye Deposit in Kazakhstan
The Zhetysu Wolfram, with partial ownership by China’s Jiaxing International Resources Investment, is set to commence tungsten ore mining operations at the Bugytinskoye deposit in the Almaty region, as announced by the Ministry of Industry and Construction. The venture underscores the growing influence of Chinese investments in Kazakhstan’s mining and renewable energy sectors. Currently, Zhetysu Tungsten is in the process...
St Barbara Reports Significant Increase in Q3 Gold Production
St Barbara has announced a substantial upswing in its gold production for the March 2024 quarter (Q3 FY24), marking a significant 33% increase compared to the previous quarter. The Simberi gold operation produced 17,257 ounces of gold during this period, showcasing an improved average milled grade of 1.63 g/t Au and a gold recovery rate of 77%. Despite challenges in...
Gold Fields Commences Gold Production at Salares Norte Mine in Chile
Gold Fields, the South African mining giant, has successfully initiated the first production at its Salares Norte gold mine in Chile, marking a significant milestone for the company after a 13-year journey from exploration to production. This development comes in the wake of overcoming numerous obstacles, including soaring costs and technical delays, underscoring the company’s resilience and commitment to growth....
Korea Zinc’s Subsidiary Pedalpoint Holdings Acquires Kataman Metals to Strengthen Global Scrap Metal Supply Chain
Pedalpoint Holdings, the U.S. subsidiary of Korea Zinc, has completed the acquisition of Kataman Metals, a distinguished global scrap metal trading company based in St. Louis, USA. The transaction, valued at USD 55 million, marks a strategic move to fortify Korea Zinc’s resource recycling value chain and bolster its position in the global metal smelting and recycling industry. Kataman Metals,...
Record Production Achieved in Mining Sector for FY24
February 2024 saw a significant leap in mineral production. The index of mineral production for February 2024 reached 139.6, marking an 8.0% increase compared to the same month in the previous year. This uptick is part of a broader trend, with the cumulative growth of the index over the April-February period of FY24 up by 8.2% over the same period...
Lithium Market Sees Production Cut and Cautious Recovery Outlook
In a recent update from the Australian Office of the Chief Economist (AOCE), the global lithium market is undergoing significant adjustments. After experiencing a drop in prices by 50% year-on-year, lithium producers worldwide have scaled back output and deferred expansion plans. This decision comes in response to a substantial decrease in lithium prices since 2023, primarily attributed to an oversupply...
Copper Prices Soar to 14-Month High Amid Optimism in China and Supply Concerns
Copper prices have surged to their highest levels in 14 months during Asian trading on Thursday, propelled by growing optimism regarding China, the world’s top copper importer, and concerns over potential supply constraints. Three-month copper futures on the London Metal Exchange saw a 0.5% increase, reaching $9,347.50 a ton, while one-month U.S. copper futures also climbed 0.5% to $4.2328 a...
Vedanta Aluminium Boosts Alumina Refining Capacity in Odisha
Vedanta Aluminium has announced an increase in its annual alumina refining capacity to 3.5 million tonnes at its Lanjigarh unit, located in Odisha. Previously, the facility had the capability to refine 2 million tonnes of alumina per annum. With an eye on future enhancements, the company aims to further expand its alumina refining capabilities to 5 million tonnes. In addition...