From Russia with gold: UAE cashes in as sanctions bite

Mining News Pro - The United Arab Emirates has become a key trade hub for Russian gold since Western sanctions over Ukraine cut Russia’s more traditional export routes, Russian customs records show.

G-7 to chase Russia’s diamonds while stopping short of total ban

Mining News Pro - Group of Seven countries agreed to work together to track Russian diamonds, but stopped short of slapping Moscow with an outright ban on the lucrative gem trade.

Lead’s balancing act still depends on China’s exports

Mining News Pro - The global refined lead market will be roughly balanced between supply and demand this year, according to the International Lead and Zinc Study Group (ILZSG).

Australia exports first copper to China since 2020, industry hopes end to ban near

Mining News Pro - Australia exported roughly $40 million worth of copper ore and concentrate to China early this year, Australian customs data shows, a sign of industry hope that trade in the red metal will resume as diplomatic relations improve.

Rio Tinto acquires scandium project in NSW

Mining News Pro - lobal mining giant Rio Tinto has entered into a binding agreement to acquire the Platina scandium project from Platina Resources for a whopping $14 million.

Biden offers $450m for clean energy projects at coal mines

Mining News Pro - The United States announced on Tuesday it had set aside $450 million to advance clean energy projects on current and former mine sites, given special attention to those that can provide new economic opportunities for coal communities.

Biden makes electric vehicle credits elusive in bid for US auto renaissance

Mining News Pro - The Biden administration’s requirements for electric vehicle tax credits will reduce the number of models eligible for incentives until tens of billions of new investment in US manufacturing by automakers and suppliers kick in.

Peru copper mines aim for output boost in 2023 after protest impact fades

Mining News Pro - Peru’s copper miners hope to increase output in 2023 after recovering from the impact of major protests at the start of the year, industry executives said, despite simmering anti-government anger in the world’s no. 2 producer of the red metal.

South America looks at creating “lithium OPEC”

Mining News Pro - Argentina, Chile, Bolivia and Brazil are analyzing the creation of a lithium cartel of sorts in charge of expanding South America’s processing capacity, turning more of their mined lithium into batteries and tapping into the electric vehicles (EVs) manufacturing sector.

Hormozgan Steel and Mobarakeh Steel strategies are aligning with each other

Mining News Pro - Hormozgan Steel created its modern strategies 6 years ago and review them this year in order to align them with MSC’s strategies.

China lithium miners restart after government investigation

Mining News Pro - Some mines in one of China’s major lithium-production hubs have been allowed to restart amid a government investigation that halted activity last week, according to a report in local media outlet Cailian.

Newmont sees ‘significant’ shareholder value in buyout of gold rival Newcrest

Mining News Pro - Gold miner Newmont Corp on Thursday said it believes a buyout of Newcrest Mining Ltd would create “significant value” for shareholders and that it is in talks with its Australian rival’s board of directors about closing a deal.

Newmont misses quarterly profit estimates

Mining News Pro - Newmont Corp on Thursday fell short of Wall Street estimates for fourth-quarter profit, as the world’s largest gold miner struggled with lower prices and increased costs.

Rio Tinto halves dividend on 41% annual profit drop

Mining News Pro - Mining giant Rio Tinto has more than halved its 2022 dividend after posting a 41% drop in annual profit, which was the result of lower commodity prices and higher costs.

Glencore hit by fresh bribery-related lawsuit in the UK

Mining News Pro - Glencore is facing a fresh lawsuit in the UK related to alleged losses to shareholders resulting from the mining and commodities trader’s involvement in bribery.

Newcrest rebuffs Newmont offer

Mining News Pro -Australia’s Newcrest Mining Ltd on Thursday rebuffed Newmont Corp’s $16.9 billion bid but left the door open for a better offer as it logged profit that surged past analyst expectations and paid out a special dividend.

US tariffs on Russian aluminum risk more market fracture

Mining News Pro - The political fracturing of the aluminum market looks set to intensify as the United States mulls imposing penal tariffs of up to 200% on imports of Russian metal.

Export development is the best way to support industries during sanctions

Mining News Pro - Chief executive of MSC said that export is one of the important aspects of the country.

Gecamines seeks to diversify into ‘transition’ minerals

Mining News Pro - Congo’s state mining company Gecamines plans to explore for minerals needed for the transition to a lower carbon economy, including lithium, tin, and rare earths, chairman Alphonse Kaputo Kalubi said on Tuesday.

UK grid asks coal reserve to prepare as cold snap looms

Mining News Pro - The UK’s grid operator asked one coal-fired power unit to be ready to generate power as it seeks to boost electricity supplies during a cold snap.

EU metals industry urges aid to rival US green energy package

Mining News Pro - Top metal producers called on the European Union to follow the White House’s lead in rolling out financial support to help the bloc keep control of raw materials critical to the green-energy transition.

Codelco produced less copper in 2022

Mining News Pro - Chile’s state-run Codelco, the world’s largest copper producer, produced 172,000 fewer tonnes of copper in 2022, Chairman Maximo Pacheco said on Tuesday, marking a roughly 10% drop from output in 2021.

Congo president demands more from $6.2 billion China metals deal

Mining News Pro - Democratic Republic of Congo President Felix Tshisekedi criticized a $6.2 billion minerals-for-infrastructure contract with China, saying the world’s largest producer of a key battery metal hasn’t benefited from the deal.

China’s metal factories cut production on poor outlook

Mining News Pro - Shrinking orders at home and abroad are forcing many metal goods factories in China’s southern Guangdong province to shut for the Lunar New Year holiday weeks earlier than usual, while some are also cutting production plans next year, producers said.

First Quantum starts arbitration against Panama

Mining News Pro - First Quantum Minerals and its subsidiary Minera Panama started arbitration processes against Panama, the country’s ministry of commerce and industry said on Saturday, as the two sides have been locked in a disagreement over payments and mine operations.

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