Mining

    Bank of America sees value in gold miners even after cutting 2026 gold price forecast teaser image

    Bank of America sees value in gold miners even after cutting 2026 gold price forecast

    (Kitco News) - While gold prices could continue to struggle through the second half of the year as markets expect the Federal Reserve to raise interest rates, one bank still sees plenty of opportunity in precious metals, with particularly attractive value in the mining sector.

    Kitco Mining Channel

    India’s Aditya Birla Renewables to buy Sprng Energy from Shell

    Grasim Industries’ (NYSE: GRAS) renewables unit will buy Sprng Energy from British oil major Shell (LON: SHEL) in a deal worth $1.8 billion, including debt, in one of India’s largest clean energy acquisitions, the companies said on Monday.The acquisition will add 5 gigawatts in capacity to Aditya Birla Renewables’ portfolio, Grasim, the flagship company of India’s Aditya Birla Group, said.The deal takes the group’s renewables portfolio to 9.3 GW, making it one of the largest players in the country’s growing clean energy sector.

    Mapping the market: Metals and mining shares may be perking up

    Shares of U.S. metals and mining companies have been on a volatile ride this year, including a nearly 25% fall for the sector in recent weeks, but ​technical analysis indicates that things could be looking up.The sector, measured by the State Street SPDR S&P Metals & Mining ETF, has been in a long-term uptrend that shifted into high gear in 2025. Over the past year it has been pulled between opposing forces — tariffs, the AI-driven buildout, ​bets on a commodities supercycle, and worries that the war in Iran could hurt global growth ​and stoke inflation.

    Indonesia’s Alamtri starts aluminium exports, ships metal to the US

    A smelter owned by mining and energy group PT Alamtri Resources Indonesia made its first aluminium exports in June, shipping to the U.S. and South Korea, according to Export Genius, a trade data platform.PT Kalimantan Aluminium Industry, which is located on the island of Borneo and began commissioning its first phase at the end of last year, shipped 31,494 metric tons of primary aluminium to the U.S. last month as well as 3,569 tons to South Korea, Export Genius data showed.
    Burkina Faso grants permit to state-owned gold miner for Bouboulou project teaser image

    Burkina Faso grants permit to state-owned gold miner for Bouboulou project

    Burkina Faso has awarded an industrial mining permit to state-owned miner SOPAMIB for the Bouboulou gold project, according to a statement, advancing the military-led government’s push for greater state control of the mining sector.Military-led governments across the Sahel and in neighbouring Guinea have increasingly favoured state-owned mining companies as they seek larger returns from their mineral wealth.SOPAMIB, Burkina Faso’s state miner, lay dormant after its 2014 creation until 2024 reforms revived it for direct mine development.
    EGA to ramp up Al Taweelah alumina refinery to 50% of capacity within days teaser image

    EGA to ramp up Al Taweelah alumina refinery to 50% of capacity within days

    Emirates Global Aluminium said on Friday its Al Taweelah alumina refinery in Abu Dhabi restarted production of the feedstock for aluminum smelting and would ramp up to 50% of capacity within days.The restart raised expectations for a faster-than-expected recovery of aluminum production in the Gulf region, following disruptions caused by the Iran war, and added pressure to benchmark aluminum prices on the London Metal Exchange. The contract was last down 1.5% at $3,152 a metric ton.
    Chile’s May copper output falls sharply across top miners teaser image

    Chile’s May copper output falls sharply across top miners

    Chile’s copper output from major producers fell sharply in May, according to data published by state copper commission Cochilco on Friday, with Codelco’s production down 18.3% year-on-year to 106,300 metric tons.Output at BHP-controlled (ASX: BHP) Escondida fell 17.6% to 108,800 tons, while production at the Collahuasi mine dropped 19.3% to 31,000 tons.(Reporting by Fabian Cambero, Editing by Daina Beth Solomon)
    Fortuna expects Senegal gold project permit within weeks teaser image

    Fortuna expects Senegal gold project permit within weeks

    Fortuna Mining expects to receive the final permit for its Diamba Sud gold project in Senegal within weeks, its chief executive told Reuters, adding that with government support the country could become a major regional mining hub.
    Fire hits acid plant at S. Korean zinc smelter, report says teaser image

    Fire hits acid plant at S. Korean zinc smelter, report says

    A fire broke out in a sulphuric acid production unit at a South Korean zinc smelter on Thursday, the Maeil Business newspaper reported.The blaze at Young Poong’s Seokpo smelter in North Gyeongsang province was extinguished around an hour after it started at 12:36 local time (03:36 GMT), the report said, adding that there had been no casualties or toxic gas leaks.The Seokpo smelter has capacity to produce 400,000 metric tons per year of zinc ingots, according to its website, although its recent production status is unclear.
    Oil tanker traffic through Hormuz at near standstill on fresh attacks teaser image

    Oil tanker traffic through Hormuz at near standstill on fresh attacks

    Oil tanker traffic through the Strait of Hormuz was at a near standstill on Thursday, according to data and sources, as shipping risks escalated after the U.S. renewed airstrikes on Iran, triggering retaliation by Tehran in the Gulf.Just two tankers had so far sailed through the strait in the early hours of Thursday. They included the crude supertanker Berg 1, which had loaded at Iran’s Kharg Island and is subject to U.S. sanctions, according to analysis from Kpler.
    Gold's selloff is just a pause in a secular bull market, miners now undervalued - Ninepoint's Wachowiak teaser image

    Gold's selloff is just a pause in a secular bull market, miners now undervalued - Ninepoint's Wachowiak

    (Kitco News) - Gold investors shouldn't mistake the precious metal's sharp correction for the start of a new bear market, according to one portfolio manager, who argues that the long-term fundamentals remain intact and the recent weakness has created an attractive buying opportunity across both bullion and mining equities.