Mining

    Record market cap, but stalled momentum as conference season approaches teaser image

    Record market cap, but stalled momentum as conference season approaches

    (Kitco News) - Mining companies are heading into this year's investor conference season with an all-time-high aggregate market capitalization, even as executives grapple with an energy cost shock that has undercut margins and forced dealmakers to rework their playbooks.

    Kitco Mining Channel

    Metalshub, Hindalco launch digital bidding process for spot alumina sales

    Digital platform Metalshub said on Tuesday it has partnered with Hindalco Industries (NSE: HINDALCO) to launch a digital tendering process for spot alumina sales, with the first tender expected between October and December 2026.Hindalco partnered with Germany-based Metalshub to use structured, competitive digital bidding for metallurgical-grade alumina spot sales.

    South Korea, Kazakhstan sign MoU on atomic energy, explore mineral trade

    South Korea and Kazakhstan signed a memorandum of understanding on cooperation on the peaceful use of nuclear energy as their leaders met on Tuesday and pledged to work together on trade, energy and critical minerals and AI, Seoul said.South Korean President Lee Jae Myung and Kazakhstan’s President Kassym-Jomart Tokayev discussed potential for further cooperation at a time of global economic turbulence, the South Korean presidential office said.

    UK government seeks to acquire insolvent specialist steelmaker

    Britain’s government said on Monday it was drawing up a plan to purchase Speciality Steel UK, a manufacturer that has previously supplied the auto, aero and defence industries, and which entered liquidation in August 2025.Before entering liquidation, Speciality Steel was part of Liberty Steel, owned by commodities tycoon Sanjeev Gupta.The government said it was moving towards public ownership after deciding it could not support a proposed private sector bid for the company, which has sites in northern and central England and supports more than 1,300 jobs.
    Indonesian coal miner Bayan Resources declares force majeure on coal supply teaser image

    Indonesian coal miner Bayan Resources declares force majeure on coal supply

    Indonesian coal miner PT Bayan Resources (IDX: BYAN) and three subsidiaries have declared force majeure on their coal supply obligations as proposed revisions to their mining quotas have not been issued, the company said in a stock exchange filing on Monday.Bayan Resources said requests made to the government by its units PT Tiwa Abadi, PT Tanur Jaya and PT Fajar Sakti Prima to revise their mining quotasfor 2026 have not yet been granted.
    Guinea discussing alumina, energy investments with Glencore after bauxite deal, minister says teaser image

    Guinea discussing alumina, energy investments with Glencore after bauxite deal, minister says

    Guinea is discussing investment opportunities with Glencore (LON: GLEN) in alumina refining and energy projects beyond last week’s bauxite marketing deal, its mines minister said, as it seeks to diversify its funding sources and export markets beyond China.Guinea’s state-owned Nimba Mining and diversified miner and trader Glencore last week signed a more than $300 million bauxite pre-financing and offtake agreement, giving Glencore a significant foothold in Guinea, home to some of the world’s largest bauxite reserves.
    Almonty and Rwanda form tungsten venture backed by US economic framework teaser image

    Almonty and Rwanda form tungsten venture backed by US economic framework

    Toronto-based Almonty Industries (NASDAQ: ALM) said on Monday it had signed a deal with Rwanda to develop and process tungsten, giving the country a 25% stake in the critical mineral project.The partnership followed an introduction by the U.S. Department of State and aligned with the 2025 U.S.-Rwanda Framework for Shared Economic Prosperity, which supports investment in critical minerals, Almonty said.
    EU dropped aluminium scrap duty plan over India concerns, sources say teaser image

    EU dropped aluminium scrap duty plan over India concerns, sources say

    The European Union abandoned a proposal for an export duty on aluminium scrap over concerns it could complicate the final signature of a free trade deal with India, sources familiar with the discussions said.Instead of the duty, which aimed to preserve Europe’s smelting industry and support sustainability goals, the EU will rely on its environmental rules to curb scrap exports.
    Mizuho $100 million credit to Radiant World was secured by allegedly invalid invoices, documents show teaser image

    Mizuho $100 million credit to Radiant World was secured by allegedly invalid invoices, documents show

    Mizuho Bank provided some $100 million in credit to Radiant World in June which was secured by invoices that a counterparty to the iron ore trader later said were invalid, according to documents and a source with direct knowledge of the matter.Radiant World did not respond to Reuters requests for comment on Friday.Details of the credit provided by Mizuho, the banking arm of Japan’s Mizuho Financial Group 8411.T, have not previously been reported.A Mizuho spokesperson said it had no comment.
    Copper output from Chile’s Codelco dips in July teaser image

    Copper output from Chile’s Codelco dips in July

    Copper output at Chilean state miner Codelco, one of the world’s largest copper producers, fell 5% from a year earlier in July to 112,800 metric tons, data from state copper commission Cochilco showed on Thursday.The latest Codelco copper production data extends a weak run for the company as it battles operational setbacks at key minesProduction at BHP-controlled Escondida, the world’s biggest copper mine, slumped 22.1% to 89,400 tons.Output at Collahuasi, jointly owned by Anglo American AAL.L and Glencore GLEN.L, rose 12.3% to 38,400 tons.
    Ghana is drafting wage, tender floors for mining contractors, official says teaser image

    Ghana is drafting wage, tender floors for mining contractors, official says

    Ghana’s mining regulator is developing minimum wage and tender benchmarks for contract mining firms, seeking to curb aggressive underbidding as the country pushes miners to outsource more operations to local contractors, a senior official said on Thursday.
    Tharisa raises nearly $300 million for Zimbabwe platinum project teaser image

    Tharisa raises nearly $300 million for Zimbabwe platinum project

    Tharisa Plc (JSE: THA) said on Friday it had raised $294 million through a Nordic bond issue mainly to complete the construction of its Karo platinum mine in Zimbabwe, which is expected to start production in the final quarter of 2027.Tharisa said in a statement that it issued a $300 million five-year senior secured bond at 98% of the principal value, with a semi-annual coupon of 11.00% per annum.
    Turkish trader BGN eyes Congo cobalt in push to grow metals business, sources say teaser image

    Turkish trader BGN eyes Congo cobalt in push to grow metals business, sources say

    Turkish energy and commodities trader BGN is looking to buy battery material cobalt from the Democratic Republic of Congo as part of efforts to boost its new metals business, people with knowledge of the matter said.Congo produces about 70% of the world’s cobalt and hosts major miners including China’s CMOC 603993.SS and London-listed miner Glencore (LON: GLEN). While its government has banned exports of cobalt concentrate, processed cobalt hydroxide is still exported under quotas.
    Zurich, Allianz insured transactions linked to Radiant World, FT reports teaser image

    Zurich, Allianz insured transactions linked to Radiant World, FT reports

    Zurich Insurance Group (SWX: ZURN) and Allianz (ETR: ALV) insured transactions linked to embattled iron ore trader Radiant World, the Financial Times reported on Friday.Radiant World has come under pressure in recent months after some banks froze its accounts and several trading houses cut ties on concerns that invoices it provided to banks may not have been valid. The company has denied wrongdoing.
    Cutting Canada tariffs alone won’t flatten US aluminum premium, Alcoa says teaser image

    Cutting Canada tariffs alone won’t flatten US aluminum premium, Alcoa says

    The steep premium paid for aluminum in the U.S. will not drop significantly even if Washington halves the tariffs on metal from neighboring Canada, because imports from other countries will still be needed, Alcoa’s (NYSE: AA) finance chief said on Thursday.The price U.S. consumers pay on top of the London Metal Exchange benchmark CMAL3 for physical aluminum, known as the Midwest premium AUPc1, is high at $1.09 per lb, or $2,403 per metric ton, but has eased from a record $1.19 in June on hopes the 50% import tariff could be halved for Canadian material.