Anglo Asian Mining plc, a gold, copper and silver producer with operations in Azerbaijan, announced that it had returned to profitability in the six months to June 30th 2019. The company reported a pre-tax profit of $1.5 million, compared to a loss of $1.2 million in the same period last year. The company attributed its…
Nickel emerged as the weakest performer among the London Metal Exchange’s (LME) base metals last year, primarily due to the anticipation of a significant influx of new nickel supply from Indonesia. According to the International Nickel Study Group, Indonesia’s mined production saw a substantial 29.2% year-on-year increase in the first ten months of 2023. While…
In the past year, Germany marked a significant environmental achievement by attaining a 70-year low in emissions. This milestone, notable for the largest economy in Europe, is primarily credited to a substantial decrease in reliance on coal, indicating a transformative change in the country’s energy framework. The decrease in emissions wasn’t limited to the energy…
Gold prices rose on Friday following the release of mixed signals from the latest U.S. jobs data. The U.S. Labor Department reported that nonfarm payrolls rose by 245,000 in December, beating expectations of a gain of 164,000. However, the unemployment rate rose to 6.7% from 6.7%, and average hourly earnings fell 0.1%. The mixed signals…
The aluminum industry has been lobbying the White House to block imports of Russian aluminum into the United States, citing the threat of increased Russian influence and market manipulation in the sector. The lobbying effort, led by aluminum giant Alcoa, is part of a broader U.S. effort to pressure Russia over its military intervention in…
Barrick Gold Corporation, one of the world’s largest gold producers, has announced that its giant South American gold project, Pascua-Lama, is set to become a reality. The project, located on the border of Chile and Argentina, is expected to produce an estimated 17.9 million ounces of gold over its estimated 25-year life. The project is…
China is set to step up its efforts to explore and exploit deep sea mining resources, a move that could have far-reaching implications for the global economy. The Chinese government has long been interested in deep sea mining, with its Ministry of Natural Resources (MNR) announcing in 2018 that it was investing in the development…
Japan is set to subsidize half the costs of lithium and other critical minerals projects, according to a report by Reuters. The Japanese government has reportedly been in talks with the private sector to secure supplies of lithium, cobalt, and other metals used in electric vehicle batteries. The government is said to be offering subsidies…
The coal mining industry segment produces coal, a fossil fuel that is used primarily for electric power generation and in the production of steel. Like oil, coal is formed over millions of years from plant and animal matter, but unlike oil, coal is a solid, and therefore miners must go into the earth to recover…
Alrosa, the world’s top diamond miner, has been hit by US sanctions, leading to a drop in its share price and a warning from the company that it could be forced to delay some of its projects. The US Treasury Department announced on April 15th that it had sanctioned Alrosa and its subsidiaries for their…