Copper price set for worst week since 2022 as China Plenum disappoints
Copper prices have retreated from a record in May on concerns about the strength of demand in China, where growth was the slowest in five quarters in the three months to June. The outcome of the Third Plenum, a key conclave of Communist Party officials in Beijing this week, has so far showed few signs of major steps to boost demand or arrest a long-running property slump.
-
-
Visit: 71
Zimbabwe’s Kuvimba signs $310 million lithium mine deal
Zimbabwe’s state-owned Kuvimba Mining House has signed a $310 million deal with a consortium of British and Chinese investors for the construction of a lithium concentrator, the company announced on Thursday.
-
-
Visit: 70
Copper output from Codelco this year to top 2023, chairman says
Codelco chairman Maximo Pacheco said on Thursday that the state-run copper giant expects production this year to outdo 2023, with recovery expected in the second half of the year.
-
-
Visit: 45
China copper smelters eye more output cuts as raw material supply tightens
A shortage of copper concentrate this year has forced a few smelters in China to cut output, and more curtailments could follow next year when raw material supply is expected to tighten further, industry participants and analysts said.
-
-
Visit: 81
Price of China’s strategic germanium hits record high on possible state buying
Prices of germanium, a strategic metal key to chipmaking, hit a record high on Wednesday in top producer China, driven by speculation of possible state buying, industry sources said.
-
-
Visit: 0
Mercedes, Stellantis in talks to back Serbia’s lithium plans
Mercedes-Benz Group AG and Stellantis NV are in discussions with Serbia’s government to invest in lithium-processing and EV battery production, potentially adding fresh support for what may become Europe’s biggest lithium mine.
-
-
Visit: 33
Sodium-ion battery startup sparks lithium alternative
Peak Energy, an energy-storage startup, received $55 million in funding to scale up production of sodium-ion batteries that the company is positioning as an alternative to the widely used lithium-ion technology.
-
-
Visit: 51
China copper smelters plan to cut output after margins fall
Two Chinese copper smelters have laid out plans to reduce production next year as an imbalance between mine supply and smelting capacity continues to drive down processing margins.
-
-
Visit: 33
Antofagasta expects 2024 copper output at low end of yearly forecast
Chilean miner Antofagasta said on Wednesday it expects full-year copper output at the lower end of its 670,000 to 710,000 metric ton guidance range, due to lower ore grades.
-
-
Visit: 39
China stainless steel mogul fights to avoid a second collapse
Chinese metal tycoon Dai Guofang’s first steel empire was brought down by a government campaign to rein in market exuberance, tax evasion accusations and a spell behind bars. Two decades on, he’s once again fighting for survival.
-
-
Visit: 40
BHP posts second straight year of record iron ore production
BHP Group on Wednesday reported record annual iron ore production for a second consecutive year, helped by improved weather conditions and higher contribution from its South Flank operations in Western Australia.
-
-
Visit: 50
Germany Chancellor plans lithium deal with Serbia after Rio ruling
German Chancellor Olaf Scholz plans to visit Serbia this week to secure supplies of lithium that are critical for the nation’s energy transition and auto industry, according to people familiar with the matter.
-
-
Visit: 41
Vale sees iron ore output at high-end of 2024 guidance after Q2 rise
Brazilian miner Vale SA expressed confidence on Tuesday that it would reach the high-end of its 2024 guidance for iron ore production after output increased in the second-quarter.
-
-
Visit: 41
Argentina tripled lithium carbonate production capacity in last two years
Argentina tripled its lithium carbonate equivalent (LCE) production capacity in the last two years, driven by new projects that have boosted installed capacity to 136,500 tons nationwide, the country’s Chamber of Mining Entrepreneurs (CAEM) reported on Tuesday.
-
-
Visit: 49
Copper market’s biggest whale fuels speculation of a major shift
For months, as copper spiked to record levels and then fell back down again, one key question has bubbled up across the metals industry: What is China’s state grid operator up to?
-
-
Visit: 28
Rio Tinto hails another step closer to develop Serbian lithium mine
Mining group Rio Tinto welcomed on Tuesday the Serbian government’s reinstatement of its licence to develop Europe’s biggest lithium mine, in a potential boost to the continent’s electric vehicle industry.
-
-
Visit: 31
Development banks seek to revive world’s biggest power project
Five development finance institutions have banded together to find a way to develop the world’s biggest electricity-generation project, the planned Grand Inga hydropower complex in the Democratic Republic of Congo that’s been stalled for decades.
-
-
Visit: 28
Ganfeng Lithium plans to build $1.1 billion trading desk
Battery-material giant Ganfeng Lithium Group Co. said it would set up a derivatives-trading desk, in a sign the industry is seeking to hedge against risks after a period of extreme volatility and geopolitical tensions.
-
-
Visit: 26
Barrick’s quarterly gold and copper output edges higher
Canadian miner Barrick Gold’s second-quarter gold output edged up by almost 0.9% from the previous three months, helped by higher production at Turquoise Ridge in Nevada and expansion at its Porgera mine in Papua New Guinea, it said on Tuesday.
-
-
Visit: 25
Lundin pitches BHP on joint bid for copper miner Filo
Lundin Mining Corp. has approached BHP Group about making a joint bid for copper miner Filo Corp., people with knowledge of the matter said, in a move that could solve fundraising needs for a neighboring project it wants to build.
-
-
Visit: 49
Congo offers own cobalt from joint ventures for first time
Democratic Republic of Congo’s state miner is trying to sell its share of cobalt from a joint-venture project, as the country seeks more control over metals key to the energy transition.
-
-
Visit: 55
Weak market for critical minerals seen dampening Western efforts to counter China
Low prices for critical minerals for the green energy transition, such as lithium, cobalt and rare earths, are curbing efforts by the West to fight the dominance of China in the sector, the CEO of US government-backed investment vehicle TechMet said.
-
-
Visit: 54
Nornickel to restart furnace at key smelter in early August
Russian metals producer Nornickel will re-launch one of the two furnaces at its flagship Nadezhda Smelter in early August after major repairs that affected production plans, a company spokesman told Reuters on Friday.
-
-
Visit: 45
Chilean lithium to be eligible for US tax break
Products made with Chilean-mined lithium – used for electric-vehicle batteries – will be eligible for US tax benefits, the Andean country’s government said on Thursday.
-
-
Visit: 57
Nearby copper price hit by weak China demand, warehouse surplus
Subdued copper demand in top consumer China and the delivery of surplus metal to the London Metal Exchange (LME) approved warehouses has propelled the price discount for nearby contracts against the benchmark contract to record highs.
-
-
Visit: 45