Mining

Argentina mining chamber says exports up slightly this year, likely flat in 2025

Buenos Aires – Argentina’s mining exports are expected to rise nearly 6% this year, lifted by more lithium sales as well as higher gold and silver prices, the head of the country’s top mining association said on Wednesday.Argentina’s mining sector generated $4.06 billion in exports last year, fueled by the battery metal lithium and precious metals gold and silver. Exports this year will likely approach $4.3 billion, said Roberto Cacciola, head of the CAEM mining association.

Dec 12, 2024 - 11:22 AM

Silver could outperform gold again next year, spot price forecast to hit $40/oz in 2025 – Heraeus

(Kitco News) – While a likely U.S. recession in Q2 would impact industrial demand for silver, most of the gray metal’s recent strengths are expected to carry over into the new year, and the price of silver is projected to outperform gold in 2025, according to analysts at Heraeus Precious Metals.

Dec 11, 2024 - 12:52 PM

Copper output from Codelco flat in October, BHP’s Escondida rises

Chile’s state-run copper miner, Codelco, posted flat production in October compared to the same month last year while the country’s largest copper mine, BHP’s Escondida, saw output jump more than a fifth, data from copper commission Cochilco showed on Tuesday.Codelco, the world’s largest copper producer that is struggling to boost declining output, posted total production of 127,900 metric tons, unchanged from last year.

Dec 11, 2024 - 12:20 PM

US offers six companies contracts to make uranium fuel for nuclear plants

The US Energy Department said on Tuesday it is offering initial contracts to six companies to produce domestic uranium fuel for conventional nuclear plants to generate electricity.The department is trying to kick-start a domestic uranium fuel supply chain to reduce dependence on Russia, from which US reactors get about 25% of their enriched uranium in recent years. The United States put a ban on the imports from Russia as part of a package of sanctions on Moscow over its full scale invasion of Ukraine. The ban allows waivers until 2028.

Dec 11, 2024 - 12:17 PM

Bougainville’s independence path relies on economy, says PNG’s Marape

Bougainville must be able to fund at least half of its budget if the Pacific archipelago’s aspiration of political independence from Papua New Guinea is to be a success, PNG Prime Minister James Marape said on Wednesday.Bougainville President Ishmael Toroama is seeking international investors to re-open one of the world’s biggest copper mines, with Marape backing his authority on Wednesday to make business decisions on the mine as the autonomous region travels a pathway to independence.

Dec 11, 2024 - 12:08 PM

Glencore ties up with Cyclic Materials in copper recycling push

Toronto – Canadian rare earth and metals recycler Cyclic Materials Inc. will supply at least 10 thousand metric tones of recycled copper to Glencore as the Swiss miner looks to secure copper that is expected to soar in demand in the coming years, Cyclic Materials’ CEO said.

Dec 11, 2024 - 11:31 AM

Chilean mining firms see 2025 copper output at 5.4-5.6 million tons

Santiago – Copper production in Chile, the world’s largest copper producer, is projected to range between 5.4 and 5.6 million tons in 2025, the National Mining Association (Sonami) said on Wednesday.Chilean mining firms also expect copper prices to range between $4.2 and $4.5 per pound next year, according to industry projections.In September, Chile’s central bank forecast an average copper price of $4.25 per pound in 2025, slightly below its previous estimate of $4.30 per pound.

Dec 11, 2024 - 10:51 AM

Polyus says sanctions will double cost of Siberian gold deposit

Russia’s largest gold producer Polyus said on Tuesday that the cost of developing the giant Sukhoi Log gold deposit in Siberia had nearly doubled to $6 billion due to Western sanctions.Polyus expects its flagship project in eastern Siberia, due to go into full operation in 2029, to help double its gold output to 6 million ounces by 2030. That would see the company leap to second from fourth in terms of global gold producers, behind only US-based Newmont.

Dec 10, 2024 - 2:30 PM

Gold price could extend record run into 2025, Heraeus says

Gold could extend its record run into 2025 as further interest rate cuts from major central banks and the prospect of a weaker dollar will boost demand for the safe-haven asset, Heraeus Precious Metals said on Tuesday.Heraeus expects gold prices to range from $2,450 to $2,950 per ounce in 2025, influenced by continued buying by major central banks, albeit in lesser quantities than in 2024, geopolitical risks in Ukraine and the Middle East.

Dec 10, 2024 - 2:27 PM

Nornickel says sees global nickel surplus of 150,000t in 2024-2025

Russia’s Nornickel, the world’s largest producer of palladium and a major producer of refined nickel, said on Tuesday it sees the global nickel market maintaining a surplus of 150,000 metric tons in 2024-2025.The company said it expects the palladium market to approach balance in 2024 and reach balance in 2025. It said it had revised its previous estimate of the 2024 palladium market deficit, excluding investments, from 900,000 ounces.The market surplus in high-grade nickel was mainly due to the inflow of cathode nickel from China, the company said.

Dec 10, 2024 - 2:23 PM

Mining

Agnico Eagle to buy O3 mining in $204 all-cash deal

Rio Tinto’s $2.5 billion lithium plan is a win for Milei

Iron ore posts weekly gain as investors assess fresh Beijing stimulus

China tightens rules to curb methane emissions from coal mines

Norilsk Nickel plans to sell all it produces in 2025

Vale invests in US startup as part of decarbonization push

Newmont optimistic about talks with Mexico on mining royalties

Europe set to miss potential for battery material recycling

Rio Tinto chief speaks out over allegations, eyes Chile lithium project

Savannah Resources gets temporary land access for Portuguese lithium project

Argentina mining chamber says exports up slightly this year, likely flat in 2025

Silver could outperform gold again next year, spot price forecast to hit $40/oz in 2025 – Heraeus

Copper output from Codelco flat in October, BHP’s Escondida rises

US offers six companies contracts to make uranium fuel for nuclear plants

Bougainville’s independence path relies on economy, says PNG’s Marape

Glencore ties up with Cyclic Materials in copper recycling push

Chilean mining firms see 2025 copper output at 5.4-5.6 million tons

Polyus says sanctions will double cost of Siberian gold deposit

Gold price could extend record run into 2025, Heraeus says

Nornickel says sees global nickel surplus of 150,000t in 2024-2025