May 12, 2024
Headlines

January 2024

Sources indicate that Glencore and Trafigura are aiming for spot prices in their negotiations for the sale of mined copper.

admin05 mins

Glencore and Trafigura are urging Asian smelters to agree to lower spot prices for the conversion of mined copper into metal this year, challenging the traditional industry benchmarks that are considerably higher, according to three sources familiar with the situation. Traditionally, the industry has relied on annual benchmarks, known as treatment charges (TCs), for contracts…

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Shares of Bluestone surge as open-pit mining receives approval for Guatemalan gold project.

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Bluestone Resources (TSXV: BSR) witnessed a twofold increase in its shares following Guatemala’s approval of a shift in the Cerro Blanco gold project’s strategy, transitioning from underground to an open-pit operation. The company is also contemplating a potential sale of the project. As of midday Wednesday in Toronto, Bluestone’s stock was trading at C$0.47, placing…

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Ex-Fortescue Executives Unveil Innovative Green Iron Startup

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Former executives from Fortescue’s clean energy initiatives, Michael Masterman and Bart Kolodziejczyk, have initiated a startup focused on reducing carbon emissions in the Australian iron ore sector. Notably, their approach differs from the hydrogen and membrane technology endorsed by their previous employer. Having secured $10 million in seed funding this week, primarily from venture capital…

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Prominent mining companies commit to refraining from exploration-related activities in world heritage sites.

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On Wednesday, the International Council on Mining and Metals (ICMM) announced its decision to abstain from engagement in exploration-related activities within world heritage sites. Instead, the focus will be directed towards ensuring the absence of any net loss of biodiversity at all mining sites. Amidst the ongoing proceedings at the World Economic Forum in Davos,…

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Canada grants the mineral-rich Arctic region of Nunavut autonomy and control over its resources.

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A photo captured by Agnico Eagle showcases the Northern Lights above the Meliadine mine in the Kivalliq district of Nunavut. On Thursday, Canada officially handed control of its vast Arctic territory, Nunavut, over its reserves of gold, diamonds, iron, cobalt, and rare earth metals. This action has the potential to stimulate exploration and development in…

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Report Reveals Extensive Deforestation Linked to Foreign-Backed Nickel Hub in Indonesia.

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A non-governmental group has reported that mining operations at a nickel industrial park, primarily backed by Chinese companies, have led to extensive deforestation in Indonesia. The report from Climate Rights International (CRI) highlights ecological damage in the nickel industry, particularly at the Indonesia Weda Bay Industrial Park (IWIP), a major nickel processing hub with investors…

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SQM restarts lithium operations in Chile following the removal of roadblocks.

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SQM, the world’s second-largest lithium supplier, is resuming operations in northern Chile following the clearance of roadblocks by local communities, as confirmed by a company representative on Monday. The removal of the final blockades, in place for nearly a week, allows the gradual return to normal operations. Community concerns arose over plans to increase lithium…

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A recently identified mineral found in abandoned gold mine dumps.

admin04 mins

A recently identified mineral, named kanatzidisite, was found in the mining dumps of the abandoned Nagybörzsöny gold deposit at Alsó-Rózsa in northern Hungary. Kanatzidisite, belonging to the class of materials known as chalcogenides, has historical usage in copper production and modern applications in catalytic reactions for fuel production, solar cells, and various materials. This novel…

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Tight supply of raw materials puts pressure on copper smelter margins in China.

admin04 mins

The competition for mined copper resources is anticipated to increase, posing a challenge to Chinese firms responsible for half of the world’s refined copper production. Despite significant output cuts affecting the metal market, it is unlikely that these cuts will be substantial. Chinese copper producers, primarily state-owned, face pressure to uphold or elevate production targets…

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