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…
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…
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…
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…
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,…
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…
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…
BHP Group announced on Thursday a reassessment of the value of its nickel operations following a significant price decline, potentially leading to write-downs amid oversupply in the electric vehicle battery metal market. As the world’s largest listed miner, BHP, which entered into a nickel supply deal with Tesla in 2021, is revisiting its business strategy…
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…
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…