Rusal, the leading aluminium producer outside China, witnessed a significant 90% decrease in its adjusted profit for 2023, dropping to $73 million (USD) from the previous year’s earnings. Despite a 6.6% increase in sales, reaching 4.153 million tonnes of aluminium and alloys, the company faced several market and geopolitical challenges that impacted its financial performance. The company reported a modest...
Analytics news
Taseko Mines Achieves Robust Financial Performance in 2023
Taseko Mines has reported a significant financial performance for the year 2023, with an Adjusted EBITDA of $190 million and mining operations earnings before depletion and amortization of $207 million. The company’s revenues reached $525 million, marking a 34% increase from the previous year, driven by enhanced copper production and an increased stake in the Gibraltar Mine from 75% to...
Argonaut Gold Reports 2023 Performance and Plans for 2024
Argonaut Gold announced its financial and operational results for the fourth quarter and the end of the 2023 fiscal year. In 2023, the company focused on key objectives, including the on-schedule commissioning of the Magino mine, improving the performance of the Florida Canyon mine, and enhancing operations at its Mexican mines. The company reported exceeding its production guidance by 9%,...
Trond Olaf Christophersen Appointed as Acting CFO of Norsk Hydro
Norsk Hydro, the Norway-based leader in aluminum and renewable energy, announced on Wednesday the appointment of Trond Olaf Christophersen as the acting Chief Financial Officer (CFO), effective from March 6. This development follows the earlier announcement regarding the departure of CFO Pål Kildemo, who will be leaving Norsk Hydro by August 31 at the latest to embark on a new...
Aluminium Dunkerque Secures $375 Million in New Bank Financing
Aluminium Dunkerque (AD) and its parent company, Aluminium Dunkerque Industries France (ADIF), have successfully acquired new bank facilities amounting to $375 million, aiming to fully refinance their existing debts. This financial restructuring was announced on March 5, 2024, from their base in Loon-Plage, France. Highlighting its commitment to sustainable development, Aluminium Dunkerque has integrated environmental benchmarks into the terms of...
Sibanye Stillwater Reports Six-Month and Year-End Financial Results
Sibanye Stillwater Limited has released its operating and financial outcomes for the six months ending 31 December 2023, along with its reviewed condensed consolidated financial statements for the year. The Johannesburg-based mining group experienced a challenging year, marked by a regrettable increase in fatalities primarily due to an incident involving a contractor at the Burnstone conveyor. Financial highlights reveal an...
ANTAM Sets Ambitious Goals for Its Key Commodities in 2024
Aneka Tambang (ANTAM), a prominent player in Indonesia’s mining sector and a member of PT Mineral Industri Indonesia (Persero) (MIND ID) – the State-Owned Enterprise Holding of Mining Industry, has outlined an ambitious plan to elevate production and sales across its main commodities in 2024. With a strategic approach towards efficient cost management, ANTAM is poised to enhance its performance...
Indonesia Set to Finalize Mining Quotas by End of March
Indonesia’s Energy and Mineral Resources Ministry is on track to finalize mining quota approvals for mineral companies by the end of March, according to a senior official. Out of 723 firms that have submitted their quota requests, known locally as RKAB, approvals have been granted to about 120 companies to date. The delay in the approval process this year has...
Azov One Technopark Joins Russia’s Ministry of Industry and Trade Register
The Azovsky Technopark, located in the Rostov Region, Russia, has recently been included in the Ministry of Industry and Trade of Russia’s register, marking it as the first industrial technopark in the region to meet the required standards. This announcement was made by Igor Sorokin, the Deputy Governor. The project, led by the Technopark Azovsky management company, is set to...
New $225 Million Carbon Anode Production Facility to Enhance Sohar Freezone’s Metals Cluster
Sohar Freezone is set to welcome a pioneering project with the signing of a land lease agreement for the construction of a prebaked carbon anodes manufacturing plant. This venture, a collaboration between Omani and Indian investors under the name Sanvira Tech SFZ, represents a significant $225 million investment. The facility, occupying a 155,000 square meter site within the free zone,...