US moves to restore stockpiling ‘panic button’ in EV metals fight with China

Insiders liken it to a “panic button.” And for more than 80 years, the primary job of the National Defense Stockpile has been to keep the US military supplied with essential raw materials and protect against supply shocks.

Gecamines plans overhaul of mining JVs in world’s top cobalt supplier

The Democratic Republic of Congo’s state miner is broadening a push to extract more from its copper and cobalt joint ventures, seeking to negotiate for higher stakes across the board to gain leverage in management of some of its biggest mines.

Africa moves a step closer to continent’s first cobalt refinery

Africa could have its first cobalt sulphate refinery by the end of 2025, one of the few outside of China capable of making the product that’s a key component of lithium-ion batteries.

Gecamines offers to buy some of Khazakh miner ERG’s copper assets

Congo state miner Gecamines said it has made a firm proposal to buy some of Eurasian Resources Group’s copper and cobalt assets in the country in a bid to claw back projects owned by partners and build reserves in metals key to the green transition.

Trafigura delivers zinc to LME warehouses for lucrative rent deals

Commodity trader Trafigura has delivered large amounts of zinc to London Metal Exchange warehouses in Singapore under lucrative rent-sharing deals, three sources familiar with the matter said, pushing stocks there back towards November’s 20-year peak.

Trafigura delivers zinc to LME warehouses for lucrative rent deals

Commodity trader Trafigura has delivered large amounts of zinc to London Metal Exchange warehouses in Singapore under lucrative rent-sharing deals, three sources familiar with the matter said, pushing stocks there back towards November’s 20-year peak.

Lundin Mining reports fatality at Neves-Corvo mine in Portugal

Canadian miner Lundin Mining on Monday said an employee at its Neves-Corvo mine in Portugal died after a fall-of-ground incident while operating a piece of equipment underground.

Congo artisanal cobalt monopoly can launch in months, CEO says

The state-owned company created to buy all of Democratic Republic of Congo’s hand-dug cobalt could start operating within three months after years of delays, according to its chief executive officer.

Cornell researchers figure out how to produce extra-pure nickelates

Researchers at Cornell University have developed a new synthesis method that produces nickelates that are so pure, that they are free of the flaws that had tainted previous studies of nickelates.

Glencore reports lower 2023 copper, nickel, cobalt output; flags further falls

Miner and trader Glencore on Thursday reported lower copper, nickel and cobalt production in 2023 and signalled a further decline in output this year.

Boliden plans to cut output and jobs at Tara zinc mine

Swedish miner Boliden’s plans to shrink operations and reduce targeted output at its Tara zinc mine in Ireland when it restarts this year, a source close to the matter told Reuters.

Grupo Mexico profit down 19% on sliding metal prices

Mining and transport conglomerate Grupo Mexico on Friday reported that its net profit for the last three months of 2023 fell 19% from a year earlier to $757.4 million, dragged down by lower prices for key metals including copper.

Pentagon plans AI-based program to estimate prices for critical minerals

The US Department of Defense plans to develop a program to estimate prices and predict supplies of nickel, cobalt and other critical minerals, a move aimed at boosting market transparency but one that throws a new, uncertain variable into global metals markets.

Vedanta beats Q3 profit view on production

Indian metal-to-oil conglomerate Vedanta reported a smaller-than-expected drop in third-quarter profit on Thursday, as an uptick in production and sales outweighed lower metal prices.

Congo and China talking $7 billion in finance, Tshisekedi says

China and Democratic Republic of Congo are discussing $7 billion in financing as part of a renegotiated minerals-for-infrastructure deal, President Felix Tshisekedi said Saturday at his second inaugural address in the capital, Kinshasa.

South32 misses output estimates, puts Colombia nickel unit under review

Australian miner South32 logged an unexpectedly sharp drop in metallurgical coal production and put its nickel operations under review, saying it was focused on costs given a slowdown in the global economy that has hurt commodity prices.

Most cobalt producers loss-making after 2023 price slump, says ERG

Most cobalt producers are likely to be losing money on every ton of cobalt they produce after a price slump last year, Benedikt Sobotka, chief executive at metals miner Eurasian Resources Group (ERG), said on Tuesday.

Higher investment risk appetite boosts activity at LME by 11% in 2023

Mining News Pro - Average daily volumes at the London Metal Exchange (LME), the world’s largest and oldest metals forum, gained 11% to 593,537 lots in 2023 with lead volumes surging by 46%, the exchange said on Thursday.

Vale’s $10 billion spend on Canada targets existing potential

Vale is spending $10 billion in Canada over the next decade to keep operations running in a district it values for its low-carbon production.

Australia wants to compete with China on critical minerals, Minister King says

Mining News Pro - Australia wants to compete with China in producing and refining resources vital to the next phase of high-tech manufacturing around the world, according to Minister Madeleine King, backing the country’s bid to build its critical minerals capability.

South African court denies class action against Anglo American

Mining News Pro - South Africa’s High Court has ruled that a class action lawsuit against miner Anglo American brought by victims of alleged historic lead poisoning in Zambia should not go ahead, lawyers for the claimants said on Saturday.

Gecamines to push for copper, cobalt trading share

Mining News Pro - Congo’s State mining group Gecamines said it will push to secure the rights to buy copper and cobalt at mines it has holdings in, as it attempts to build its own stocks and trade the metals.

Glencore’s Mutanda mine to produce less cobalt on ore depletion

Mining News Pro - Depleting ore grades of cobalt deposits at Glencore’s Mutanda mine in Congo means the miner will produce up to 15% less a year of the battery metal, three sources with knowledge of the matter said.

Base metal markets across LME are showing signs of surplus

Mining News Pro - Every major market on the London Metal Exchange is showing signs of ample supply, as slowing economic growth undercuts demand.

European companies exploring ways to boost rare metal supply

Mining News Pro - European companies are exploring ways to replace the gallium and germanium supply put at risk by China’s export curbs after pressure from EU authorities, but the industry says incentives will be needed to make critical mineral production viable.

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