Mining

Burkina Faso miners tumble after president's remarks teaser image

It would be 'shocking' if silver didn't break all-time highs - Dolly Varden Silver's Shawn Khunkhun

Oct 04, 2024 - 4:48 PM

Metals keep rolling after good jobs report, and Couer acquires SilverCrest for $1.7 billion

Kitco News - A good jobs report on Friday sustained market momentum.On Saturday, mining audiences manager Michael McCrae recorded Kitco Roundtable.According to the Bureau of Labor Statistics, 254,000 jobs were created last month, marking the strongest employment report in six months. The unemployment rate dropped to 4.1%.Spot gold finished the week at $2,665, roughly unchanged for the week, while silver added $1.20 to hit $32.20.

Oct 05, 2024 - 12:32 PM

China files appeal to WTO on Canada’s tariffs on EVs, metal products

China’s commerce ministry said on Wednesday it has asked the World Trade Organization (WTO) to rule on Canada’s imposition of steep tariffs on Chinese electric vehicles as well as steel and aluminum products.Following the lead of the United States and European Union, Canada began imposing on Tuesday a 100% levy on EVs shipped from China, having also announced in late August a 25% tariff on Chinese steel and aluminum products.

Oct 04, 2024 - 12:28 PM

Codelco signs letter of intent to collaborate with ABB on decarbonization

Chilean state-run miner Codelco has signed a letter of intent with Swedish-Swiss technology company ABB to explore a collaboration focused on decarbonizing and automating its operations, the copper giant said in a statement Friday.The strategic collaboration between both companies would be a long-term one, Codelco said, with the aim of identifying the miner’s innovation needs to pursue its commitments to sustainable development.(By Daina Solomon and Aida Pelaez-Fernandez; Editing by Gabriel Araujo)

Oct 04, 2024 - 12:26 PM

Rusal plans to double Boguchansky smelter capacity by 2030

Russian aluminum producer Rusal plans to double the capacity of its Boguchansky aluminum smelter in Siberia to 600,000 metric tons by 2030, the local government in the Krasnoyarsk region, where the plant is located, said on Friday.Rusal, the world’s largest aluminum producer outside China, launched the first production line at Boguchansky in 2019. The plant is jointly owned with the state-controlled power generating company Rushydro.

Oct 04, 2024 - 12:08 PM

Vale’s new boss pledges to grow copper output after falling behind rivals

Brazilian miner Vale aims to boost its copper production, the company’s new CEO said on Wednesday, conceding it has lost ground to its competitors in output of the key industrial metal.Vale is a top global iron ore producer, while also operating base metal projects including copper and nickel.“We have fallen behind on copper,” CEO Gustavo Pimenta said in his first public remarks since starting his new role on Tuesday. He was previously the miner’s chief financial officer.

Oct 03, 2024 - 1:27 PM

Zimbabwe softens stance on local lithium processing after price collapse

Zimbabwe has softened its requirements for lithium miners to process the mineral locally, a government official said on Thursday, as the industry battles to survive a price slump over the past year.Africa’s top lithium producer, Zimbabwe had last year given producers up to March 2024 to submit plans of how they would produce battery-grade lithium in the impoverished southern African country.

Oct 03, 2024 - 12:48 PM

Years of 'favorable conditions' - Skeena Gold + Silver's Walter Coles on precious metal catch up

(Kitco News) - Precious metal miners are in a great bargaining position with the smelters, said Walter Coles, executive chairman of @skeenaresources6013.

Oct 02, 2024 - 4:11 PM

Australian mine fight reignites Aboriginal heritage tensions

Wiradjuri elder Nyree Reynolds calls her home west of Sydney the valley of the Bilabula, the Indigenous name for its river. The river features in Wiradjuri stories about the creation of their land, she told state planning regulators, “And no one has the right to destroy this.”On her objections, the Australian government in August ordered miner Regis Resources to find a new dam site for a A$1 billion ($685 million) gold project on the grounds its proposed location for storing rock and chemical waste would irreparably harm culture attached to the river.

Oct 02, 2024 - 3:03 PM

Mining sector modeling shows 20% upside, time for investors to pay attention - Gabelli Gold Fund’s Chris Mancini

(Kitco News) - After a strong rally that drove gold prices to a gain of 28% in 2024, the yellow metal has encountered resistance at $2,700 an ounce.

Oct 02, 2024 - 1:12 PM

LME monitoring aluminum market after spike in spread

The London Metal Exchange (LME) said on Wednesday it is monitoring tightness in the aluminum market, which has seen a key spread shoot to a sizeable premium and one party amass a large long or bullish position in the October contract.“The LME is closely monitoring the tightness in the aluminum market and has the necessary controls in place to ensure continued market orderliness,” the LME said in response to a request for comment.

Oct 02, 2024 - 10:38 AM

Madagascar’s nickel and cobalt miner Ambatovy shuts down ore pipeline

Madagascar’s nickel and cobalt miner Ambatovy has shut down a pipeline supplying ore from its mine in the country’s east to a processing and refinery plant due to damage, its major shareholder Sumitomo Corp said.As Ambatovy continues to assess the impact on operations and the timeline for recovery, traders said that the incident could tighten supplies in the cobalt market if the stoppage goes on for more than two months.

Oct 02, 2024 - 10:36 AM

Firms substituting cheaper aluminum for copper, trend growing

Some companies in Asia and Europe are starting to substitute cheaper aluminum wire for copper and the trend is due to gain momentum as copper prices are expected to see further gains, consultancy CRU said on Tuesday.“Over the past year we have been seeing rapidly growing interest, people are putting two and two together,” CRU analyst Aisling Hubert told an event during London Metal Exchange Week.“We have had a lot of conversations with our clients.”

Oct 01, 2024 - 5:48 PM

'Can you do more?' - New Gold's Patrick Godin on investors pushing miners to grow production

(Kitco News) - Gold and copper production are increasing at New Gold, noted CEO Patrick Godin.

Oct 01, 2024 - 5:03 PM

Mining

Burkina Faso miners tumble after president's remarks

It would be 'shocking' if silver didn't break all-time highs - Dolly Varden Silver's Shawn Khunkhun

Couer to acquire SilverCrest in $1.7 billion all-share deal

Burkina Faso plans to withdraw some mining permits, junta leader says

India’s SAIL ties up with BHP to reduce carbon emissions

Copper demand for electric vehicles is intact, trader IXM says

Serbia’s parliament debates ban on lithium mining

Metals keep rolling after good jobs report, and Couer acquires SilverCrest for $1.7 billion

China files appeal to WTO on Canada’s tariffs on EVs, metal products

Codelco signs letter of intent to collaborate with ABB on decarbonization

Rusal plans to double Boguchansky smelter capacity by 2030

Vale’s new boss pledges to grow copper output after falling behind rivals

Zimbabwe softens stance on local lithium processing after price collapse

Years of 'favorable conditions' - Skeena Gold + Silver's Walter Coles on precious metal catch up

Australian mine fight reignites Aboriginal heritage tensions

Mining sector modeling shows 20% upside, time for investors to pay attention - Gabelli Gold Fund’s Chris Mancini

LME monitoring aluminum market after spike in spread

Madagascar’s nickel and cobalt miner Ambatovy shuts down ore pipeline

Firms substituting cheaper aluminum for copper, trend growing

'Can you do more?' - New Gold's Patrick Godin on investors pushing miners to grow production