Gold plunged to its lowest since April 2020 on Thursday amid expectations of more aggressive interest rate hikes by the Federal Reserve despite a fresh round of mixed data on the US economy. Spot gold dipped 0.4% to $1,688.24 per ounce by 11:50 a.m. ET, having already fallen below the $1,700 mark earlier in the…
Rio Tinto has awarded Civmec, an Australian engineering and construction firm, with a contract worth over $228 million (AUD) for work on the Western Range iron ore project in the Pilbara region of Western Australia. The contract covers the construction of process facilities, non-process infrastructure, and associated works. The Western Range project is part of…
Iron ore prices rose on Monday after data showed a surprisingly robust pick-up in activity in China’s manufacturing sector and as steel demand outlooks remain bullish. The benchmark 62 percent grade of iron ore for delivery to China SH-CCN-IRNOR62 rose as much as 4.5 percent to $99.80 a tonne, its highest level since October 26,…
In recent developments, the mining industry is witnessing significant changes driven by advancements in technology and a growing emphasis on sustainability. These trends reflect a broader shift in the mining industry towards greater efficiency, sustainability, and responsibility, as companies adapt to new challenges and opportunities in the global market.
In a world obsessed with wealth and the pursuit of shiny objects, a group of intrepid treasure hunters found themselves standing before the ultimate symbol of opulence: a mountain made entirely of gold. It was a discovery that would make Midas green with envy and set off a chain of events that could only be…
South African miner Sibanye-Stillwater has extended its reach into Australia with the acquisition of a 19.9% stake in Australian zinc miner, Votorantim Metais Zincar SA. The acquisition was made through a subsidiary, Sibanye-Stillwater Australia, and is part of the company’s strategy to diversify its portfolio and expand its presence in the global zinc market. Votorantim…
The race to mine the ocean floor is being reignited as the Metals Company, a Canadian resource exploration and development company, has announced plans to explore for and develop seafloor massive sulfide (SMS) deposits. SMS deposits are formed on the seafloor when hydrothermal fluids, or hot water, rich in metals and minerals, are expelled from…
Great Panther Mining Limited, a Canadian-based gold and silver mining company, has recently been recognized by the Women in Mining (WIM) Canada organization for its commitment to gender diversity in executive roles. The company received the organization’s 2020 Top Company Award, which is presented annually to a company that has demonstrated a commitment to gender…
In recent times, the copper mining industry has found itself on a rollercoaster ride, with the price of this essential metal experiencing a significant decline. Often referred to as “OPEC on crack,” copper mining’s resemblance to the petroleum cartel’s influence over oil prices is striking, but the reasons behind the recent price fall are more…
A downturn in some of the highly touted energy-transition metals is causing disruptions throughout the mining sector. This has led to project delays, thwarted deals, and a race for funding that is poised to impact the industry for years. Lithium, a crucial metal for electric-vehicle batteries, has experienced an over 80% drop from its late-2022…