Mining

Copper’s rising importance: U.S. Gold Mining’s Whistler Project and its role in domestic resource security – CEO Tim Smith

(Kitco News) - Copper plays a critical role in the energy transition, said Tim Smith, CEO of U.S. Gold Mining, adding that the company’s Whistler Project in Alaska is a vital asset in meeting growing demand.

Dec 04, 2024 - 2:53 PM

Freeport’s copper concentrate exports will only temporarily ease global shortages

Dec 09, 2024 - 11:04 AM

Adani smelter expansion will cut India’s refined copper imports, government says

New Delhi – India will no longer need to rely on refined copper imports once billionaire Gautam Adani’s new copper smelter ramps up its capacity, the federal Ministry of Mines said on Friday.India, which identified copper as a critical mineral last year, relies on imports to address shortfalls and meet the robust demand in the world’s fastest-growing major economy.Copper’s main consumers include the construction sector, home appliance manufacturers, and industries involved in the green energy transition, such as electric vehicles, solar, and wind power plants.

Dec 06, 2024 - 11:12 AM

Dealmaker Hannam sues Randgold for up to $18 mln over Barrick merger work

LONDON, Dec 6 (Reuters) - Dealmaker Ian Hannam is suing Randgold Resources for up to $18 million he says he is owed for work on its acquisition by Canada's Barrick Gold (ABX.TO), telling a London court on Friday that the gold miner reneged on their agreement.

Dec 06, 2024 - 10:35 AM

Chile aims to invest $83bn in mining through 2033, newspaper says

Chile plans to invest about $83.18 billion from this year through 2033, state-run agency Cochilco said in a study cited in a newspaper report on Tuesday, an increase of 27% from last year’s estimate.Set to be presented on Wednesday, the Cochilco report will list some 51 projects in the South American nation, which is the world’s largest producer of copper and second-largest of lithium, a key ingredient of rechargeable batteries.

Dec 06, 2024 - 10:07 AM

Australia grants further $257m for Iluka’s rare earths refinery amid cost blowout

Australia will grant an additional A$400 million ($257.20 million) loan to Iluka Resources to develop its rare earths refinery in Western Australia, which will also see the critical minerals miner shell out more money than committed.Iluka on Friday said the federal government is granting the additional loan on top of the A$1.25 billion loan offered in 2022. The miner will have to cough up an extra A$214 million in cash equity on top of the A$200 million cash equity and stockpile already earmarked for the project.

Dec 06, 2024 - 10:04 AM

Gold ETFs register first outflow in seven months, says WGC

Global physically backed gold exchange-traded funds (ETFs) registered outflows in November after six consecutive months of inflows as Europe-listed funds reduced their holdings, the World Gold Council (WGC) said on Thursday.Gold ETFs store bullion for investors and account for a significant amount of investment demand for the precious metal, which is down 5% since hitting a record high of $2,790.15 an ounce on Oct. 31.

Dec 05, 2024 - 2:03 PM

Chile aims to invest $83bn in mining through 2033, newspaper says

Dec 05, 2024 - 1:56 PM

Freeport Indonesia sees output ramping up at Manyar smelter in Q3 next year

Copper miner Freeport Indonesia expects operations of its $3.7 billion Manyar smelter in East Java to ramp up in the third quarter of next year after being halted by a fire in October, an official said on Wednesday.“Based on the repair plan for the affected facilities, it is estimated that the ramp-up of (Freeport’s) smelter operations can begin in the third quarter of 2025,” its spokesperson, Katri Krisnati.

Dec 05, 2024 - 1:51 PM

Buenaventura approves bond measures, including $650 million issuance

Peruvian mining company Buenaventura, a major precious metals producer, has approved a set of debt measures including a bond issuance of $650 million, the firm said in a statement on Wednesday.The miner added that shareholders had approved what it called a “repurchase or rescue operation” of currently active bonds.Peru is one of the world’s top mining economies, especially for key industrial metal copper, with mineral sales contributing a large share of the country’s export revenue.(By Marco Aquino; Editing by Kylie Madry)

Dec 05, 2024 - 1:48 PM

Nippon Steel committed to US Steel takeover, aims to close in December

Japan’s Nippon Steel is committed to its $15 billion acquisition of US Steel and is confident of completing it by year-end, a senior executive said, despite strong US opposition including from President-elect Donald Trump.“We will not give up on the deal… There is no global strategy without the US,” Nippon Steel vice chairman Takahiro Mori told Reuters this week, after returning from his eighth visit to the United States since the deal was announced a year ago.

Dec 05, 2024 - 1:43 PM

Portugal plans to hold delayed lithium tender in 2025

Portugal’s government plans to launch a long-delayed tender of lithium prospecting licences in 2025 as it seeks to make the country a top European supplier of critical metals for the green transition, it said on Tuesday.The center-right government, which took over in April, said that the international tender for lithium prospecting will target six areas in the north and center of the country.

Dec 04, 2024 - 11:08 AM

Biden to announce millions in African Lobito corridor funding

US President Joe Biden is expected to announce on Wednesday an additional $600 million in financing for projects along the Lobito rail corridor during his trip to Angola, according to a senior administration official.The funding for solar, critical minerals and telecommunications projects along the corridor comes during Biden’s first visit as president to Sub-Saharan Africa and the first by any US president to Angola.(By Trevor Hunnicutt; Editing by Costas Pitas)

Dec 04, 2024 - 11:02 AM

Orano says Niger has taken control of uranium mine

Paris – French nuclear fuels company Orano said on Wednesday that authorities in Niger have taken control of its Somair uranium mine as the military-led government steps up pressure on foreign investors in the West African country.Orano, which owns about 63% of the mine, said in a statement that decisions taken at Somair board meetings were no longer being applied. Niger owns the remaining stake in Somair.“Orano is today confirming that Nigerien authorities have taken operational control of the company,” it said.

Dec 04, 2024 - 10:58 AM

Workers’ strike slows production at B2Gold’s Fekola mine, sources say

Bamako – A workers’ strike at B2Gold’s flagship mine in southwest Mali has reduced mining operations to just 25% of its capacity, two employees at the mine told Reuters on Tuesday.Between 1,875 and 2,000 workers at B2Gold’s Fekola mine in Mali launched the seven-day strike on Nov. 29 over the dismissal of some of their colleagues, the sources said, speaking on condition of anonymity.

Dec 04, 2024 - 10:55 AM

Iron ore gains as China stimulus hopes outweigh worries of escalating trade tensions

Beijing – Iron ore futures prices gained on Wednesday as lingering expectations of fresh Chinese economic stimulus outweighed concerns over the escalation of trade tensions between the United States and China.The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.43% higher at 812 yuan ($111.76) a metric ton. It touched its highest since Oct. 8 at 816.5 yuan a ton earlier in the session.The benchmark January iron ore on the Singapore Exchange rose 0.37% to $105.5 a ton, as of 0730 GMT, the highest level since Nov. 8.

Dec 04, 2024 - 10:51 AM

Mining

Copper’s rising importance: U.S. Gold Mining’s Whistler Project and its role in domestic resource security – CEO Tim Smith

Freeport’s copper concentrate exports will only temporarily ease global shortages

Perpetua Resources and Sunshine Silver to explore antimony processing in Idaho

China’s central bank resumes gold purchases after six-month hiatus

Rattled by China, West scrambles to rejig critical minerals supply chains

Ukraine’s key coking coal mine still operating as Russians close in

Adani smelter expansion will cut India’s refined copper imports, government says

Dealmaker Hannam sues Randgold for up to $18 mln over Barrick merger work

Chile aims to invest $83bn in mining through 2033, newspaper says

Australia grants further $257m for Iluka’s rare earths refinery amid cost blowout

Gold ETFs register first outflow in seven months, says WGC

Chile aims to invest $83bn in mining through 2033, newspaper says

Freeport Indonesia sees output ramping up at Manyar smelter in Q3 next year

Buenaventura approves bond measures, including $650 million issuance

Nippon Steel committed to US Steel takeover, aims to close in December

Portugal plans to hold delayed lithium tender in 2025

Biden to announce millions in African Lobito corridor funding

Orano says Niger has taken control of uranium mine

Workers’ strike slows production at B2Gold’s Fekola mine, sources say

Iron ore gains as China stimulus hopes outweigh worries of escalating trade tensions