Mining

    Gold's weakness is a buying opportunity as Jefferies sees $5,000 price in 2027, healthy mining margins teaser image

    Gold's weakness is a buying opportunity as Jefferies sees $5,000 price in 2027, healthy mining margins

    (Kitco News) - Gold prices continue to struggle in the face of persistent inflation pressures and growing expectations for higher interest rates; however, one bank continues to see short-term weakness as a buying opportunity and expects higher gold prices to continue to support the mining sector.

    Kitco Mining Channel

    Sojitz agrees to sell stake in Australia’s Gregory Crinum coal mine

    Japanese trading house Sojitz (TYO: 2768) said on Wednesday it agreed to sell its entire stake in the Gregory Crinum coal mine in Queensland, Australia, as part of a structural reform and to reduce its exposure to metallurgical coal.The company declined to disclose the buyer or financial terms of the deal.Completion remains subject to several conditions, including regulatory approvals, Sojitz said.The divestment is in line with its policy of selling most of its Australian metallurgical coal assets to strengthen its growth foundation.

    Ferrexpo’s quarterly output falls on production halt, export constraints

    Iron ore pellet producer Ferrexpo (LON: FXPO) reported a 19% sequential drop in third-quarter output on Wednesday, pressured by a production halt and constrained export capacity as access to Ukrainian ports remained severely restricted.Total commercial production fell to 779,975 tons in the three-month period ended September 30, from 963,409 tons in the second quarter.In August, Ukraine-focused Ferrexpo temporarily suspended production due to liquidity issues and export disruptions in the Black Sea stemming from the Russian war in Ukraine.

    Aurubis raises 2027 European copper premium to record $347 a ton, sources say

    Europe’s biggest copper smelter Aurubis (ETR: NDA) will charge customers a record premium of $347 a metric ton for refined copper next year, three market sources said on Wednesday.The premium, paid on top of London Metal Exchange copper prices, is up 10% from the German company’s 2026 European premium of $315 a ton.Aurubis declined to comment on the premium, but a spokesperson said: “In 2027 we expect to have a very strong demand side, from a range of mega-trends.”Those included construction of more AI data centres, electric vehicles and renewable energy.
    Russian aluminium’s share of available LME stocks almost 100% in September teaser image

    Russian aluminium’s share of available LME stocks almost 100% in September

    The share of available Russian-origin aluminium stocks in London Metal Exchange warehouses rose to almost 100% in September from 95% in August, exchange data showed on Wednesday, leaving only a tiny amount of Indian metal as an alternative.Total available, or on-warrant, aluminium inventories 6.5% to 226,675 metric tons at the end of last month, the lowest since March 2025, as conflict in the Middle East tightens global supply.
    Trump says ‘massive’ oil, gas, mineral exploration set to begin in Greenland teaser image

    Trump says ‘massive’ oil, gas, mineral exploration set to begin in Greenland

    US President Donald Trump said on Wednesday that “massive oil, gas and mineral exploration”was set to begin on Greenland, a contentious statement on a territory that has resisted his efforts to control it and has banned new drilling for crude.Trump described the Danish Arctic island which is run by a semi-autonomous government as “our new and beautiful Greenland” in a social media post that hailed what he said were US gains from a security deal signed in September.The Greenlandic prime minister’s office declined to comment on Trump’s statement.
    India may need to raise coal power capacity as demand surges, official says teaser image

    India may need to raise coal power capacity as demand surges, official says

    India’s rapidly growing demand for electricity could force it to add substantially more coal-fired power capacity than planned, the head of the power sector planner said on Tuesday.The South Asian nation, which planned last year to add 97 GW of coal power capacity to reach 307 GW by 2035, currently has about 230 GW of capacity.“Now, probably it will go up to 105 GW or even 150 GW,” said Ghanshyam Prasad, chairperson of the Central Electricity Authority (CEA), referring to the further capacity needed beyond last year’s target.
    Striking unions and Centinela copper mine restart negotiations teaser image

    Striking unions and Centinela copper mine restart negotiations

    Chile’s Centinela copper mine and two striking unions returned to the negotiating table on Tuesday under a voluntary mediation process aimed at resolving a week-long work stoppage that workers say is affecting operations.The Distrito Centinela and Minera Esperanza unions began the stoppage last Wednesday after collective contract negotiations with mine owner Antofagasta Minerals (LON: ANTO) failed.The unions are seeking equal benefits for all workers, regardless of union affiliation.
    Malaysia’s king buys stake in Southern Alliance Mining as firm expands rare earths push teaser image

    Malaysia’s king buys stake in Southern Alliance Mining as firm expands rare earths push

    Malaysia’s king has acquired a 2.25% stake in Singapore-listed Southern Alliance Mining (SGX: QNS), paying a premium in an off-market deal with the firm’s managing director and controlling shareholder Pek Kok Sam, the company said.The S$6.1 million ($4.76 million) deal comes as the iron ore producer expands its presence in Malaysia’s rare earths industry.Sultan Ibrahim acquired the stake at S$0.425 per share, a premium of about 11.84% to the October 12 closing price, the firm said in a bourse filing late Monday.
    Global nickel market set for surplus this year and next, INSG says teaser image

    Global nickel market set for surplus this year and next, INSG says

    The global nickel market is set to end 2026 in a slight surplus, the International Nickel Study Group said on Tuesday, reversing a forecast for a deficit made six months ago, with the oversupply seen widening next year.Global demand for primary nickel, used in stainless steel and rechargeable batteries, is expected to reach about 3.85 million metric tons in 2026, up 7.6% from last year, the INSG said after two days of meetings among government and industry representatives from member countries in Lisbon.Production is forecast at 3.87 million tons.
    Centinela copper mine, unions to resume talks Tuesday amid strike teaser image

    Centinela copper mine, unions to resume talks Tuesday amid strike

    Chile’s Centinela copper mine and two unions will resume negotiations on Tuesday under a voluntary mediation process proposed by regional labor authorities, the company said on Saturday, as a strike continues at the operation.The talks between Centinela, owned by Antofagasta Minerals, and the Minera Esperanza and Distrito Centinela unions will take place at 10 a.m. (1300 GMT) in the northern Chilean city of Antofagasta.Centinela said it welcomed the resumption of talks and remained committed to reaching an agreement.
    Chinese lithium prices tumble to nearly 10-month low on demand concerns teaser image

    Chinese lithium prices tumble to nearly 10-month low on demand concerns

    China’s lithium carbonate futures prices slid to a nearly 10-month low on Monday, as a deal with the European Union to cut hybrid cars exports exacerbated concerns over demand prospects for the electric vehicle battery material.The most active lithium carbonate contract on the Guangzhou Futures Exchange touched its weakest since December 17, 2025 at 104,680 yuan ($15,640.22) per metric ton.The contract recouped some losses and ended daytime trade down 11.8% to 104,740 yuan, marking its steepest daily fall since March.
    Iron ore prices seesaw as restocking hopes counter rising supply teaser image

    Iron ore prices seesaw as restocking hopes counter rising supply

    Iron ore prices seesawed on Monday, as expectations of restocking by Chinese steelmakers following a week-long holiday were countered by the prospect of increased supply.The benchmark November iron ore on the Singapore Exchange was up 0.56% at $91.1 a metric ton, as of 0704 GMT.The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE) gave up earlier gains to end daytime trade down 0.07% at 683 yuan ($102.07) a ton.Prices of the key steelmaking ingredient fell last week as subdued demand and expectations of rising supply weighed on the market.
    Ethiopia launches its first gold refinery, Prime Minister says teaser image

    Ethiopia launches its first gold refinery, Prime Minister says

    Ethiopia has launched its first gold refinery, a $50 million joint venture aimed at turning the East African nation into a regional processing hub for precious metals, Prime Minister Abiy Ahmed said over the weekend.Gold exports are one of Ethiopia’s main sources of foreign exchange, earning the country $5.6 billion last year, according to government data.Abiy said the new refinery would process gold from Ethiopia and elsewhere.