Mining

    Copper Giant intercepts 771 meters at Mocoa as Giustra says project is “getting bigger and bigger” teaser image

    Copper Giant intercepts 771 meters at Mocoa as Giustra says project is “getting bigger and bigger”

    (Kitco News) - The latest drilling supports the model behind a billion-tonne resource as the world searches for its next generation of large copper mines.

    Kitco Mining Channel

    Brazil steelmaker CSN says Steinbruch leaving CEO role after 24 years

    Brazilian steelmaker CSN (BVMF: CSNA3) said on Wednesday that Benjamin Steinbruch, a member of the family who controls the company, is leaving the position of chief executive officer he has held since 2002.He will be replaced by Fabio Schvartsman, a former CEO of mining firm Vale (NYSE: VALE), as of September 3, the steelmaker said in a securities filing. Steinbruch was approved as chairman of the board of directors, it added.

    Impala Platinum earnings soar, offsets help ease Zimbabwe cash lock-up

    Impala Platinum (JSE: IMP) said on Thursday its annual profit increased more than 31-fold, driven by higher platinum group metal (PGM) prices, prompting it to sharply increase its dividend.The miner said its headline earnings per share – a profit measure widely used in South Africa – were 25.48 rand ($1.59) in the year ended June 30, compared with 0.82 rand a year earlier.Impala said its rand revenue per ounce increased by 51% on the back of higher metal prices, resulting in a 58% jump in revenue to 135.1 billion rand.

    Ukraine-focused miner Ferrexpo to raise $100 million in funding

    Ukraine-focused miner Ferrexpo (LSE: FXPO) on Thursday proposed an equity fundraise for about $100 million to support the company’s working capital and ongoing operations, after reporting results for the year ended December 31, 2025.Switzerland-headquartered Ferrexpo had delayed its fiscal 2025 results in April as it grappled with operational and financial setbacks amid the ongoing Russia-Ukraine war.
    Hungary to create watchdog to oversee EV battery plants, boost fines for polluters teaser image

    Hungary to create watchdog to oversee EV battery plants, boost fines for polluters

    Hungary will raise the maximum fine for pollution by large manufacturers, including of batteries, to 5 billion forints ($16 million), Prime Minister Peter Magyar said on Thursday, in a shift from his predecessor’s drive to attract EV battery plants.Former Premier Viktor Orban, who was ousted by Magyar in an April election after 16 years, bet big on EV batteries, attracting foreign investment ​mainly from South Korean and Chinese manufacturers, and making Hungary a major hub in Europe.
    Coal India to sell 10% stake in unit Mahanadi Coalfields’ IPO teaser image

    Coal India to sell 10% stake in unit Mahanadi Coalfields’ IPO

    Coal India (NSE: COALINDIA), the world’s largest coal producer, is selling a 10% stake in Mahanadi Coalfields through the fully owned subsidiary’s initial public offering, draft papers filed with the market regulator showed.State-run Coal India is offloading up to 661.8 million shares in its unit, according to the prospectus dated Monday.Mahanadi Coalfields is not selling any new shares in the offering and will not receive any proceeds.
    BP appoints former Balfour Beatty CEO Ian Tyler as chair teaser image

    BP appoints former Balfour Beatty CEO Ian Tyler as chair

    BP (NYSE: BP) has appointed Ian Tyler, former CEO of building group Balfour Beatty (LON: BBY), as its permanent chair, it said on Wednesday, after it fired Albert Manifold in May, citing governance and conduct concerns.Amanda Blanc, BP’s senior independent director, who oversaw Manifold’s and Tyler’s appointments, will not seek re-election at next year’s annual general meeting and will step down once a successor for her has been found, BP said.
    Aluminium producers offer Japanese buyers lower Q4 premiums, sources say teaser image

    Aluminium producers offer Japanese buyers lower Q4 premiums, sources say

    Top global aluminium producers have offered Japanese buyers premiums of $310 to $325 per metric ton for October-December primary metal shipments, down 18% to 22% from the current quarter, four sources involved in quarterly pricing talks said.Japan is a major importer of the light metal, and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price CMAL0 serve as the regional benchmark.For July-September, Japanese buyers had agreed to pay premiums of $395 per ton PREM-ALUM-JP, up 12% to 13% from the prior quarter.
    Mexico starts anti-dumping investigation into Japan’s steel sheets teaser image

    Mexico starts anti-dumping investigation into Japan’s steel sheets

    Mexico has started an anti-dumping investigation into imports of steel sheet originating in Japan, according to a resolution published early on Wednesday in the country’s official gazette.The investigation, accepted by the Mexican Ministry of Economy, was requested by Grupo Acerero that claimed unfair international trade practices, specifically price discrimination, on imported steel sheets manufactured in Japan.
    Russia’s Udokan launches copper cathode production after fire-related delay teaser image

    Russia’s Udokan launches copper cathode production after fire-related delay

    Russian mining company Udokan Copper said on Wednesday it had started producing copper cathodes at its plant in Russia’s Far East, nearly three years after a fire delayed the launch.President Vladimir Putin joined the launch ceremony by video link from Vladivostok.Udokan, Russia’s largest copper project, is currently under U.S. sanctions. It began producing copper concentrate in September 2023.
    India revives talks with Zambia to invest in critical minerals, sources say teaser image

    India revives talks with Zambia to invest in critical minerals, sources say

    India has resumed talks with Zambia to explore investment opportunities in copper and other critical minerals, two sources said, as New Delhi looks increasingly overseas for raw materials to meet rising demand from its rapidly growing economy.Officials from India’s Ministry of Mines held preliminary discussions with Zambian officials on August 26, the two people familiar with the talks said, requesting anonymity because the discussions were confidential.One of the sources said the two sides did not discuss a stalled project that had halted talks earlier.
    Indonesia nickel ore imports from Philippines rise to 11.4 million tons in January-July teaser image

    Indonesia nickel ore imports from Philippines rise to 11.4 million tons in January-July

    Indonesia imported 11.4 million metric tons of nickel ore from the Philippines in the January to July period this year, the statistics bureau said on Tuesday.The nickel ore imports from the Philippines were worth $696.5 million, Statistics Indonesia said.In comparison, Indonesia imported 6.82 million tons of nickel ore from the Philippines in the same period last year, the agency’s data showed.Top nickel exporter Indonesia has the world’s largest nickel ore reserves, but the government is tightening the annual mining quota to support prices.
    Solar overtakes coal as China’s largest source of installed power capacity teaser image

    Solar overtakes coal as China’s largest source of installed power capacity

    Solar farms overtook coal plants in July to become ​China’s top source of installed power ‌capacity, state-run media reported on Tuesday, although solar still lags well behind coal in terms of ​power generation.China had ​1,288 gigawatts (GW) of solar capacity as of ⁠the end of July, against coal’s ​1,285 GW, according to energy administration figures ​and state-run media.
    Argentina locks in $900M for pipeline to feed first large-scale LNG exports teaser image

    Argentina locks in $900M for pipeline to feed first large-scale LNG exports

    Argentina’s San Matias Pipeline consortium said on Friday it had closed a $900 million project finance loan to build a pipeline from the Vaca Muerta shale formation to the Atlantic coast in Rio Negro province, a crucial piece of financing for the nation’s long-delayed ambition to become a global natural gas exporter.The financing marks a major milestone for a country trying to turn one of the world’s largest unconventional gas reserves into hard-currency export revenue.
    US alumina producer ATALCO raises another $350 million for Gramercy facility revival teaser image

    US alumina producer ATALCO raises another $350 million for Gramercy facility revival

    Atlantic Alumina Company said on Friday it has secured an additional $350 million from its majority shareholder, Concord Resources Holdings, and the Department of War for the revival of its Gramercy facility in Louisiana.ATALCO’s new deal with the U.S. department, Concord and a fund managed by Pinnacle Asset Management brings total funding for its Gramercy refinery to $800 million this year. The Pinnacle fund is Concord’s largest shareholder.