Mining

Gold between $2,700 to $3,000 - World Gold Council's Joe Cavatoni says a lot of the market expects metal to rise

(Kitco News) - Gold is well supported with a number of factors favoring the metal, said Joe Cavatoni, senior market strategist for the Americas, World Gold Council.

Sep 04, 2024 - 4:23 PM

Markets wait for a rate cut, and First Majestic Silver announces $970 million acquisition

Sep 07, 2024 - 12:26 AM

First Majestic Silver to acquire Gatos Silver in $970 million deal

Sep 05, 2024 - 12:06 PM

One of the highest-grade open pit gold projects in the US gets key permit - Perpetua Resources and Stibnite gold project

Sep 05, 2024 - 12:14 PM

Russia launches major zinc concentrate plant after delays linked to fire, US sanctions

Russia’s new Ozernoye plant, located next to its largest zinc mine, launched zinc concentrate production on Wednesday, the company said, after delays caused by a fire last year as well as US sanctions.Ozernoye, situated in a remote area about 200 km (124 miles) from the border with Mongolia, aims to process up to 6 million tons of zinc ore with output volumes of up to 600,000 tons of concentrate with 53% zinc content when it reaches full capacity in 2025.

Sep 04, 2024 - 1:15 PM

Glencore’s Peru boss Soyer to step down after Volcan sale, sources say

Glencore’s head of Peruvian operations is stepping down from her position, according to two sources with knowledge of the matter.Victoria Soyer Toche, the general manager at Glencore Peru SAC, has resigned, the sources said. Veteran copper concentrates trader Alvaro Ilamas also recently left Glencore’s Lima office, according to same sources.Glencore declined to comment on personal moves.Her departure came after Glencore sold its stake in zinc-lead producer Volcan Compania Minera to Argentine group Integra Capital in May.

Sep 04, 2024 - 1:12 PM

Orano selects Tennessee site to build uranium enrichment plant

France’s state-owned nuclear fuel company Orano has selected Oak Ridge, Tennessee as a preferred site to build a multi-billion dollar US uranium enrichment plant, Tennessee and Orano officials said on Wednesday.The move comes months after the administration of President Joe Biden signed legislation meant to eventually end dependence on Russia, the world’s top supplier of enriched uranium. The law imposed a ban on imports of Russian enriched uranium and freed up to $2.7 billion in US funding for domestic uranium projects.

Sep 04, 2024 - 12:53 PM

Sibanye flags loss after $420 million US asset writedown

Sibanye Stillwater on Monday said it will report a half-year loss hurt by a 7.5 billion rand ($420 million) writedown on its US assets reflecting sliding palladium prices.The South African miner expects to report a loss per share of between 2.508 rand and 2.772 rand for the six months to June 30 after posting a profit of 2.62 rand per share for the period last year.

Sep 03, 2024 - 3:28 PM

Goldman temporarily suspends zinc coverage

Goldman Sachs has suspended covering zinc markets “for the moment”, citing “restricted capacity” following the departure of the sector lead earlier this year.Goldman’s metals strategist Nicholas Snowdon has joined Mercuria, as the energy trader seeks to expand its presence in the sector.Snowdon’s departure from Goldman followed that of Jeff Currie, the investment bank’s former head of commodities research, who joined private equity giant Carlyle in February to lead energy transition analysis.

Sep 03, 2024 - 2:37 PM

New Caledonian nickel firm KNS awaits new investor after furnace shutdown

Talks with potential buyers for Glencore’s stake in Koniambo Nickel SAS (KNS) are continuing after the loss-making New Caledonian nickel producer shut down its furnaces over the weekend, KNS said on Tuesday.KNS, part of a struggling New Caledonian nickel industry, stopped its mine and plant operations in March after commodity group Glencore decided to sell its interest. Glencore agreed to pay for workers’ salaries and for the furnaces to be kept hot until the end of August.

Sep 03, 2024 - 2:29 PM

Sinomine says its Tsumeb smelter contains over 700t of germanium

China’s Sinomine Resource Group said its Tsumeb Smelter (Pty) in Namibia contains 746 metric tons of germanium, a critical mineral used in chipmaking, infrared technology, fibre optic cables and solar cells.“We plan to conduct a feasibility study on revamping the existing copper smelting production line at the smelter to add germanium and zinc smelting production lines and achieve commercial production as soon as possible,” the company said in a filing to the Shenzhen Stock Exchange dated on Monday.

Sep 03, 2024 - 2:21 PM

Brazil miner MRN gets initial licence to extend life of bauxite project

Brazilian miner Mineracao Rio do Norte (MRN), backed by Glencore and Rio Tinto, said on Tuesday it had received an initial licence from environmental agency Ibama to extend the useful life of its bauxite mining operations in northern Brazil.(By Marta Nogueira and Andre Romani; Editing by Kylie Madry)

Sep 03, 2024 - 1:58 PM

Mining

Gold between $2,700 to $3,000 - World Gold Council's Joe Cavatoni says a lot of the market expects metal to rise

Markets wait for a rate cut, and First Majestic Silver announces $970 million acquisition

First Majestic Silver to acquire Gatos Silver in $970 million deal

One of the highest-grade open pit gold projects in the US gets key permit - Perpetua Resources and Stibnite gold project

$3.50/lb copper is possible before 2024 ends, warns Scott Pollan

Trafigura’s top China iron ore traders leave group

China lodges WTO complaint over Canada’s EV and metal tariffs

Rusal says board recommends not paying H1 dividend

Biden close to blocking Nippon Steel deal to buy US Steel

Piedmont Lithium pulls US government loan application as prices slump

US Steel warns Nippon deal failure would put thousands of jobs at risk

Russia launches major zinc concentrate plant after delays linked to fire, US sanctions

Glencore’s Peru boss Soyer to step down after Volcan sale, sources say

Orano selects Tennessee site to build uranium enrichment plant

Sibanye flags loss after $420 million US asset writedown

Goldman temporarily suspends zinc coverage

New Caledonian nickel firm KNS awaits new investor after furnace shutdown

Sinomine says its Tsumeb smelter contains over 700t of germanium

Brazil miner MRN gets initial licence to extend life of bauxite project