Boliden flags delay, cost increase at Norway zinc smelter
Swedish miner Boliden said on Thursday the expansion of its Odda zinc smelter in Norway will take longer than expected due to a delay in construction work and that the cost will increase by 100 million euros ($110.16 million).
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Visit: 46
China to agree on concession for Mao-era Africa railway by year-end
A Chinese state-owned company will finalize an agreement to take over the concession of a railway that links Zambia’s copper mines to a Tanzanian port by the end of 2024, according to the agency in charge of the line
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Visit: 56
Goldman temporarily suspends zinc coverage
Goldman Sachs has suspended covering zinc markets “for the moment”, citing “restricted capacity” following the departure of the sector lead earlier this year.
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Visit: 40
US-backed Angola rail plan secures $200 million from key bank
The Development Bank of Southern Africa has approved as much as $200 million for the US-backed Lobito corridor rail project that will haul critical minerals from central Africa’s copperbelt to an Atlantic port in Angola.
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Visit: 47
CEO of Korea’s No. 2 zinc producer arrested after fatal accident
The chief executive officer of South Korean zinc producer Young Poong Corp. and another senior staff member were arrested over a fatal accident last year at the company’s Seokpo smelter.
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Visit: 68
World’s top cobalt producer expects supply pressures to ease
China’s CMOC Group Ltd., the world’s biggest cobalt producer, expects supply pressures to start easing in the second half of this year.
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Visit: 58
Rio Tinto, Teck take steps to minimize Canada rail shutdown impact
Rio Tinto and Teck Resources said on Thursday the labor dispute between Canada’s two biggest railway companies and their workers would likely disrupt their operations and the miners were taking steps to mitigate the damage.
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Visit: 63
Lead sellers caught short by Shanghai delivery rule change
Would-be sellers of battery metal lead on the Shanghai Futures Exchange (ShFE) have been forced to search for overseas supplies or roll forward contracts they hoped to close following a change in specifications, four sources familiar with the matter said.
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Visit: 48
Wild first half for metals drives big jump in LME earnings
The London Metal Exchange enjoyed a strong first half on the back of a surge in trading volumes during a stormy period for global metals markets, according to the bourse’s owner Hong Kong Exchanges and Clearing Ltd.
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Visit: 66
Chinese zinc smelters meet to mull output cuts to stem losses
China’s major zinc smelters are discussing possible output cuts, after tight global supplies of concentrate and weak demand forced spot processing fees into negative territory.
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Visit: 49
Glencore holding 25,000t of zinc stocks after Zhairem ramp-up
Glencore has built up 25,000 metric tons of unsold zinc because of the expansion and ramp-up of its Zhairem operation, part of its Kazzinc business in Kazakhstan, the company said on Wednesday during a briefing call.
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Visit: 66
Glencore ceases to stockpile cobalt
Glencore has stopped stockpiling electric vehicle battery material cobalt, its CEO Gary Nagle said on Wednesday, adding though that the market was likely to remain in surplus for another 18 to 20 months.
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Visit: 63
Glencore scraps plans to ditch coal on investor pressure
Glencore scrapped on Wednesday plans to separate its coal division, which it had announced following its acquisition of assets from Teck Resources last year, as shareholders opposed the move.
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Visit: 52
LME approves Saudi port as warehouse delivery point
The London Metal Exchange (LME) has approved Red Sea port city Jeddah in Saudi Arabia as a warehouse delivery point for copper and zinc, it said on Monday.
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Visit: 83
Vedanta seeks partners to develop Zambia mines it’s regaining
Vedanta Resources Ltd., the mining company that billionaire Anil Agarwal founded, is looking for business partners to boost output at the Zambian copper assets it’s regaining control of after years of legal battles.
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Visit: 70
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.
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Visit: 62
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.
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Visit: 89
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.
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Visit: 91
CMOC to double copper output at Congo mines to 1 million tonnes by 2028
CMOC Group plans to more than double copper output from its mines in the Democratic Republic of Congo over the next four years, setting a new much higher target for the metal as future demand is seen strengthening.
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Visit: 53
MMG halts zinc concentrate output at Dugald River mine
China’s MMG Ltd has halted operations at a mill at its Dugald River zinc mine in Australia for about two months of repair work, it said on Friday.
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Visit: 93
Ivanhoe sells new zinc mine’s output to Trafigura, China’s Citic
Ivanhoe Mines Ltd. will sell the zinc it produces from a large new mine in the Democratic Republic of Congo to Trafigura Group and China’s Citic Metal Co.
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Visit: 87
Congo’s Gecamines opposes deal for Trafigura-backed miner
Democratic Republic of Congo’s state-owned miner Gecamines said it will oppose the sale of Trafigura Group-backed miner Chemaf Resources Ltd. to China’s Norin Mining Ltd.
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Visit: 72
London Metal Exchange mulls adding warehouse in Hong Kong
The London Metal Exchange is exploring whether to license a warehouse in Hong Kong as it seeks to strengthen services to clients in China — the world’s biggest metals market.
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Visit: 84
China’s Norinco agrees to buy struggling Congo cobalt miner Chemaf
Cobalt miner Chemaf SA has agreed to sell assets in the Democratic Republic of Congo to Chinese miner Norin Mining to settle debts largely funded by its long-time partner, commodities trader Trafigura, it said on Thursday.
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Visit: 91
Trafigura clinches share of major zinc deal snubbed by Glencore
Production from a large new zinc mine in the Democratic Republic of Congo will be split between several new buyers including trading giant Trafigura Group, after rival Glencore Plc backed away from a previous deal for the entire supply.
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Visit: 82