Mining

Nornickel and Belarus’ Belaz sign agreement to replace Western machinery on Russian market

Nornickel has signed an agreement with Belarusian truck maker Belaz to manufacture and supply mining equipment to replace Western-made machinery on the Russian market, Nornickel said in a statement on Friday.The agreement with Belaz will help Russian mining companies minimise risks of sanctions and ensure import substitution of mining equipment in the market, Nornickel said.

Jan 24, 2025 - 10:21 AM

Chile’s mining agency expects another global lithium surplus this year

Production cutbacks by lithium companies in response to low prices for the metal have tightened supply forecasts, but a global surplus is still expected for 2024 and 2025, Chilean copper commission Cochilco said on Thursday.The global market was expected to post a surplus of 89,000 tons of lithium in 2024 and 141,000 tons in 2025, according to a report from Cochilco, Chile’s government agency for mining studies.

Jan 23, 2025 - 12:42 PM

South Africa’s mining industry reports lowest number of deaths last year

South Africa’s mining industry reported 42 deaths last year, the lowest number to date and a 24% improvement on the previous year, official statistics showed on Thursday.The statistics did not include deaths from illegal mining.Mines Minister Gwede Mantashe repeated the government’s position that illegal mining is a criminal activity and not part of his department’s remit.Last week the bodies of 78 miners were pulled from an illegal gold mine after a heavily-criticized police operation lasting several months that tried to force them to the surface.

Jan 23, 2025 - 12:40 PM

Freeport-McMoRan’s profit beats estimates due to rising copper prices

Copper miner Freeport-McMoRan posted a better-than-expected fourth-quarter profit on Thursday, as higher prices for the metal offset a drop in production in the company’s Indonesian operations.Phoenix-based Freeport also boosted its budget for the year by roughly 5% to $4.4 billion and forecast an increase for next year as well, surprising investors.Shares were down about 6% in morning trading. Lower copper prices also pressured the stock.

Jan 23, 2025 - 12:39 PM

Indonesia approves 2025 nickel mining quota at 298.5 million wet tonnes

Indonesia has approved the 2025 nickel mining quota at 298.5 million wet metric tons, the country’s nickel miner association APNI told a parliamentary hearing.The quota was higher than last year’s 271.89 million wet metric tons, APNI data shows.(Reporting by Bernadette ChristinaEditing by David Goodman)

Jan 23, 2025 - 12:38 PM

Sandvik signals stabilising orders as Q4 intake beats estimates

Swedish metal-cutting and mining equipment maker Sandvik on Thursday signalled stabilising orders for early 2025 and little immediate threat from US tariffs, after it beat market expectations for fourth-quarter order intake.Sandvik, one of the first Nordic industrial companies to report quarterly results, is considered a reliable indicator of demand given its broad customer base.Its quarterly order intake was 31.56 billion Swedish crowns ($2.86 billion), up 5% from a year earlier and above analysts’ consensus according to Jefferies and Kepler Cheuvreux.

Jan 23, 2025 - 12:36 PM

Trump’s EV rollback not expected to suppress appetite for critical minerals

US President Donald Trump’s rollback of electric vehicle targets may temporarily slow demand for lithium and other critical minerals, but is unlikely to hamper the mining industry amid surging global EV demand, analysts and industry leaders said.Trump on Tuesday revoked predecessor Joe Biden’s 2021 executive order that sought to ensure half of all new vehicles sold in the US by 2030 are electric. Automakers had been positioning for a jump in EV demand due largely to that Biden move.

Jan 22, 2025 - 1:54 PM

Zambia hopes mining will trigger economic revival

Zambia is pinning its hopes on the mining sector for an economic revival after the worst drought in living memory caused a sharp slowdown in growth this year, its finance minister said on Tuesday.Situmbeko Musokotwane told an event on the economic outlook that new mines were opening imminently and old mines were re-investing to lift output.“If all goes according to plan, 2025 should be the start of this revival and it will be getting stronger and stronger each year going forward,” he said.

Jan 22, 2025 - 1:46 PM

Evolution Mining climbs to 4-year high on upbeat Q2 production, bullion prices

Shares of Australia’s Evolution Mining rose to a four-year high on Wednesday after the country’s second-biggest gold miner reported an improved, better-than-expected output in the second quarter of fiscal 2025, boosted by strong bullion prices.Evolution’s stock rose as much as nearly 2% to A$5.77, its highest level since Nov. 18, 2020, marking 14 sessions of gains in 15. The stock was among the top 10 gainers in the ASX gold sub-index.

Jan 22, 2025 - 1:45 PM

Zambia copper output up 12% last year as key mines recover

Zambia’s copper output rose 12% in 2024, buoyed by a recovery in production at key mines as the government counts on the sector to drive economic growth.Output reached roughly 820,670 metric tons, up from 732,580 tons the year before, Mines Minister Paul Kabuswe said on Wednesday.Barrick Gold’s Lumwana mine ramped up output and Vedanta Resources’ Konkola Copper Mines (KCM) resumed activities.Output also picked up at Mopani Copper Mines, which was recently bought by United Arab Emirates firm, International Resources Holding.

Jan 22, 2025 - 1:41 PM

Investigating magistrate appointed in Belgium in Congo conflict minerals case

An investigating magistrate has been appointed in Belgium after Democratic Republic of the Congo in December filed criminal complaints accusing Apple subsidiaries of using so-called conflict minerals in their supply chain, a lawyer for Congo said Monday.“I can confirm that the Belgian investigating judge has been appointed,” said Leo Fastenakel, one of the lawyers representing the Congolese government in Belgium.“We believe he is a serious and rigorous judge,” he added, without naming the magistrate.

Jan 21, 2025 - 12:53 PM

BHP’s iron ore, copper output surge on mine improvements

BHP Group said on Tuesday its iron ore production inched ahead in the December quarter, while its copper output surged 17% after improvements at its Escondida mine in Chile.The world’s largest listed miner has completed an efficiency drive at its South Flank iron ore operations in Western Australia, delivering quarterly production of 73.1 million metric tons compared with 72.7 million tons in the same quarter last year.That was largely in-line with the Visible Alpha consensus estimate of 72.8 million tons.

Jan 21, 2025 - 12:51 PM

Thungela names De Beers’ Madondo as new CEO

Thungela Resources has picked De Beers executive Moses Madondo to replace July Ndlovu, who is retiring from Aug. 1, the South African thermal coal exporter said on Tuesday.Thungela said in a statement Madondo is taking over from Ndlovu, who will reach the age of 60 years in July and has to step down according to the company’s retirement policy.Ndlovu, an engineer, has been at the helm of Thungela, which mines coal burned in power stations, since it was spun off from Anglo American in 2021. Prior to that he had headed the Anglo coal division.

Jan 21, 2025 - 12:46 PM

Society is at risk as ‘old-world industries are starved of investment capital - MJG Capital’s Matt Geiger

(Kitco News) - While investment capital flows into cryptocurrencies and AI technology, the neglect of “old-world industries” is putting society at risk, according to one fund manager.

Jan 21, 2025 - 12:03 PM

Mining

Freeport sees solid end to 2024 on higher gold and copper prices

Mali dispute crucial for African investment climate: Barrick CEO Bristow

Trump’s tariffs could redirect metal flows, Alcoa CEO says

Indonesian parliament proposes revision of mining law

IGO ceases work at impaired Kwinana lithium hydroxide plant

Rio Tinto flags Q1 shipments hit after cyclone-induced rail disruptions

Nornickel and Belarus’ Belaz sign agreement to replace Western machinery on Russian market

Chile’s mining agency expects another global lithium surplus this year

South Africa’s mining industry reports lowest number of deaths last year

Freeport-McMoRan’s profit beats estimates due to rising copper prices

Indonesia approves 2025 nickel mining quota at 298.5 million wet tonnes

Sandvik signals stabilising orders as Q4 intake beats estimates

Trump’s EV rollback not expected to suppress appetite for critical minerals

Zambia hopes mining will trigger economic revival

Evolution Mining climbs to 4-year high on upbeat Q2 production, bullion prices

Zambia copper output up 12% last year as key mines recover

Investigating magistrate appointed in Belgium in Congo conflict minerals case

BHP’s iron ore, copper output surge on mine improvements

Thungela names De Beers’ Madondo as new CEO

Society is at risk as ‘old-world industries are starved of investment capital - MJG Capital’s Matt Geiger