Guinea, Emirates Global agree on alumina plant deal

Guinea Alumina Corporation, a unit of Emirates Global Aluminum, signed a preliminary agreement with the Guinean government for the construction of an alumina refinery.

Codelco reaches agreement with Andina mine workers

Chilean state-run miner Codelco said on Friday that it had reached a collective contract agreement with the union representing workers at its Andina mine ahead of schedule, averting the threat of a strike at the site.

Hedge funds Andurand and Rokos took big copper bets before spike

Rokos Capital Management and Andurand Capital Management have been prominent among hedge funds piling into the copper market, with bold bets on dramatically higher prices that have already delivered early wins.

Aluminum market set for wave of scrap as industry decarbonizes

Recycled metal will drive a massive wave of aluminum that’s about to hit global markets, as the industry comes under more pressure to decarbonize.

Copper’s spike isn’t justified by fundamentals, Trafigura says

Copper’s recent surge to a record wasn’t justified by real-world supply and demand, according to Trafigura Group — the top copper trader and usually one of the market’s most bullish voices.

Aluminum market set for wave of scrap as industry decarbonizes

Recycled metal will drive a massive wave of aluminum that’s about to hit global markets, as the industry comes under more pressure to decarbonize.

Antofagasta to invest $1.5bn for water transport system at Chile copper mine

London-listed Antofagasta on Wednesday signed a $1.5 billion investment deal to improve water supply at its Chile mining operations.

Rusal in talks to mine bauxite in Sierra Leone

Russian aluminum giant Rusal is in negotiations with the government of Sierra Leone on a bauxite mining concession, the RIA state news agency reported on Wednesday, citing the west African country’s mining minister.

Aluminum producer Novelis hits pause on $945 million US IPO

Aluminum producer Novelis Inc. has postponed a plan to raise as much as $945 million in an initial public offering that would have been one of the biggest listings in the US this year.

MMG plans to raise $1.16bn to repay debt, fund mine development

China’s MMG said on Tuesday it plans to raise about HK$9.08 billion ($1.16 billion) through a rights issue to repay existing debt, allowing the Hong Kong-listed company to better support the ongoing development of its operating mines.

Copper leader Chile posts worst monthly output in over a year

Chile registered its lowest month of copper production in more than a year, undermining the top-producing nation’s recovery from its first annual decline in two decades.

Indonesia to issue copper export permits for Freeport, Amman

Indonesia will issue copper concentrate export permits for miner Freeport Indonesia and Amman Mineral Internasional, a trade ministry official said on Friday, ensuring that exports by both companies would not be disrupted.

Base metals stage rapid retreat as profit taking accelerates

Copper extended its retreat from a record, and aluminum dropped from a two-year high, as investors looked to cash in after a blistering rally across industrial metals markets.

Buried fortune of old copper wire is worth billions to telcos

AT&T Inc., BT Group Plc, Orange SA and their global peers are preparing to tap a rich new source of revenue: their old copper wiring.

Copper traders get reprieve as historic New York squeeze eases

A historic squeeze in New York copper futures is drawing to a close, with the loosening of a key price spread taking the pressure off traders who faced spiraling losses on short positions earlier this month.

Mongolia defends plan to tap mining riches for new sovereign wealth fund

Mongolia’s prime minister defended changes to the country’s mining laws after foreign investors raised concerns they could deter investment in its large reserves of critical minerals, including those used in electric vehicle batteries and other new energy technologies.

Aluminum recycler Novelis targets up to $12.6bn valuation in US IPO

Novelis, owned by Indian billionaire Kumar Mangalam Birla’s Hindalco Industries, is targeting a valuation of up to $12.6 billion in its initial public offering in the United States, the aluminum products maker said on Tuesday.

Trafigura faces off with aluminum bulls over huge metal stash

The aluminum market is caught in a clash between some of the biggest traders and banks, with more than $1 billion of metal changing hands while lengthy queues form at London Metal Exchange warehouses.

Rio Tinto faces lawsuit over Panguna copper mine in Bougainville

Thousands of people in Bougainville, an autonomous region of Papua New Guinea, have filed a class action lawsuit against Rio Tinto Plc and its former unit Bougainville Copper Ltd. over what they say is historical mismanagement of the massive Panguna copper mine.

Copper price steadies after biggest decline in almost two years

Copper steadied following the biggest drop in almost two years, as Chinese factories balked at paying record prices and Federal Reserve officials made hawkish comments on inflation.

Southern Copper aims to boost Peru output by 520,000t in 8-10 years

Southern Copper, Peru’s third largest copper producer controlled by Grupo Mexico, expects to boost its copper production in Peru by 520,000 metric tons in 8-10 years if it executes its $8.5 billion portfolio of projects, a top executive said on Wednesday.

Glencore, Rusal extend aluminum supply contract into 2025

Swiss-based trading house Glencore and aluminum producer Rusal have extended their long-term supply contract into next year after the amount traded so far has amounted to a fraction of the agreement’s maximum volumes, a source with direct knowledge said on Wednesday.

Peru’s 2024 copper target is realistic, mining magnates say

The Peruvian government’s 2024 copper production goal of 3 million metric tons is realistic, senior industry executives said on Tuesday, as the country seeks to boost mining investments to help lift the economy out of recession.

Hudbay Minerals to raise $300 million in bought deal equity offering

Canadian copper miner Hudbay Minerals plans to raise $300.2 million in an equity offering to help fund near-term growth initiatives at its Copper Mountain unit among other purposes, the company said on Tuesday.

Copper’s record rise steadies as demand signals challenge bulls

Copper’s barnstorming run is showing signs of cooling, one day after reaching an all-time high, with investors cautioning its rally may have been running ahead of weak fundamentals for refined metal.

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