The Lobito Atlantic Railway Corridor, a strategic rail line connecting crucial African mines to the Atlantic port of Lobito in Angola, is set for a significant boost with a $250 million investment from the Biden administration aimed at its revitalization. This century-old railway is also part of a broader initiative, including a study to extend the rail into Zambia with...
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Gold Prices Dip as Markets Anticipate U.S. Economic Indicators and Federal Reserve Insights
Precious Metal on the Decline October 2023: Gold prices experienced a downturn on Tuesday, continuing the trend from the previous session. The market’s anticipation of critical U.S. economic data and forthcoming commentary from Federal Reserve officials has influenced this trajectory. Despite the initial surge in prices during the Israel-Hamas conflict, the trend reversed following robust U.S. inflation reports, fueling speculation...
Zinnwald Lithium Sets Stage for Lithium Extraction Leadership in Germany with Metso
Pioneering in the German Market October 17, 2023, marked a pivotal step for the Zinnwald Lithium Project near Dresden, Germany, as Zinnwald Lithium and Metso disclosed advancements in their collaborative testwork program. This initiative underscores a strategic move in Germany’s burgeoning electric vehicle (EV) sector, positioning the project as potentially the vanguard of lithium extraction and processing in the country....
Royal Nod for Gold Exploration Marks New Chapter in UK Mining Revival
In a significant move within the UK’s mining sector, Cornish Tin has received royal consent to embark on gold and silver exploration across Cornwall. The company, backed by the Crown Estate, now holds exclusive exploration rights spanning 123,447 acres, signaling a potential revival of Cornwall’s storied mining industry. Historical Industry Meets Modern Opportunity in the UK This initiative marks a...
Gradual Exit: Indian Government Plans Phased Sell-Off in Hindustan Zinc Ltd
In a strategic move to optimize value, the Indian government intends to divest its remaining shares in Hindustan Zinc, a Vedanta subsidiary, through a series of smaller transactions spread out over time. This decision aims to avoid market flooding and preserve share value, with the current stakes estimated at around Rs 40,000 crore. A Staggered Approach to Divestment The government’s...
BMW Secures Umicore as Key Supplier for North American Battery Production
BMW is pushing forward with its electric mobility efforts, securing a critical supply agreement with Belgium-based Umicore for the manufacture of battery materials in North America. Strengthening Regional Supply Chains The German automotive giant announced on Monday that Umicore, a global materials technology and recycling group, is set to provide cathode active materials essential for battery production to AESC. This...
Weekly Metals News Digest (Oct 9-13)
Nornickel expects copper market growth In the remaining months of 2023 and into next year, Norilsk Nickel forecasts steady growth in the global copper market at a rate of 2–3%.The company’s forecast emphasizes the revival of economic activity in China, which is the main producer of red metal on the planet, while also being its main consumer. It also highlights...
BHP Averts Strike with Preliminary Deal at Escondida Copper Mine
In a pivotal move to maintain operational continuity, BHP has reached a preliminary agreement with the union of its Escondida mine in Chile, forestalling a potential strike at the world’s most significant copper mine. Avoiding Work Stoppage Through Mediation This development came on the heels of the union members’ rejection of an earlier proposal from BHP, an event that led...
Rusal Faces Export Challenges Amid Market Restrictions
Rusal is experiencing significant hurdles in sustaining a steady presence in its export markets, confronting unparalleled constraints including upcoming trade shifts, as highlighted in their recent communications with the press. Unprecedented Pressures Impact Operations The aluminum titan is battling an increasingly restricted business environment, with recent reports revealing that Novelis Europe, a key figure in the rolled aluminum sector, plans...
Anglo Asian Mining Sees Downturn in Q3 Production Amid Operational Challenges
Anglo Asian Mining reports a significant decline in its metals production in the third quarter, following temporary halts at its key operational sites. Production Hit by Operational Halt In a stark contrast to its performance in the same period last year, Anglo Asian Mining disclosed a substantial dip in its gold, copper, and silver outputs in the third quarter. The...