Citi’s mega metals trade shows global markets turning to glut

Mining News Pro - Citigroup Inc. has been buying large volumes of physical aluminum and zinc on the London Metal Exchange, in a bold metal-financing trade that’s made it one of the biggest players in the market in recent months.

Citi buys $160 million of Russian aluminum others won’t touch

Mining News Pro - Citigroup Inc. has bought about $160 million of Russian aluminum from the London Metal Exchange, something many banks have refused to touch since the invasion of Ukraine.

Chinese embassy calls upon citizens to leave three provinces in the DRC

Mining News Pro - Texas-based geo-political consultancy Stratfor says China’s Embassy in the Democratic Republic of the Congo is telling its nationals in the country to leave the provinces of eastern Ituri, North Kivu and South Kivu and to report their location to embassy staff before December 10.

City of Karratha to add value to mining cities alliance

Mining News Pro - The Australian Mining Cities Alliance (AMCA) has welcomed the City of Karratha as its latest member, while also announcing the appointment of new executive officer Gary Stevenson.

Nordgold postpones IPO, citing uncertainty in gold market

Mining News Pro - Following its announcement earlier this month of an initial public offering in London, along with a secondary listing in Moscow, Nordgold has now decided to postpone its potential multi-billion-dollar IPO.

CITIC to mine additional 1bn tonnes of iron ore

Mining News Pro - CITIC is set to strike a deal with Mineralogy chairman Clive Palmer to mine a further one billion tonnes of iron ore in Western Australia.

MACA adds $200m CITIC Pacific contract to books

Mining News Pro - MACA has secured a hire and maintenance contract with CITIC Pacific Mining Management (CPM) at the Cape Preston Sino iron operation in Western Australia.

Orion paving way for another exciting `green` base metals hub in Northern Cape

Mining News Pro - The copper strength of Orion Minerals is intensifying with Tuesday’s announcement of the company’s exclusive option to acquire the Okiep Copper Complex in South Africa’s Northern Cape for A$7.5-million.

Spanish cities opposed to exploration at Emerita Resources’ project area

Mining News Pro - The Spanish cities of Paymogo and Puebla de Guzmán issued a directive stating that mining exploration activities are forbidden in an area known as La Romanera, which is a large sulphide deposit that Canada’s Emerita Resources is looking to develop.

Citi says it`s `only a matter of time` before gold hits a record

Mining News Pro - Bullish factors building in the bullion market are set to see prices take out the record set in 2011, according to Citigroup.

Citi to stop working with thermal coal miners, to reject funding for Arctic oil, gas exploration

Mining News Pro - Citigroup will stop providing financial services to thermal coal-mining companies over the next 10 years to help accelerate the economy’s shift away from fossil fuels.

Vale slashes 2020 output forecasts, citing virus

Mining News Pro - Brazilian miner Vale on Friday cut its forecast for production of iron ore fines and pellets, copper and nickel in 2020, saying in a securities filing that the new coronavirus outbreak was delaying some facilities from reopening.

Legend uncovers most exciting post-Nova nickel discovery

Mining News Pro - Legend Mining has unearthed “the most significant and exciting discovery in the Fraser Range post Nova” during the first diamond drilling at the Mawson prospect in Western Australia this year.

Trump, citing US farmers, slaps metal tariffs on Brazil, Argentina

Mining News Pro - U.S. President Donald Trump ambushed Brazil and Argentina on Monday, announcing he would restore tariffs on U.S. steel and aluminum imports from the two countries in apparent retaliation for currency weakness he said was hurting U.S. farmers.

Ivanhoe, CITIC complete second major financing for Congo mines

Mining News Pro - Canada’s Ivanhoe Mines (TSX:IVN) has received a second major strategic investment of C$612 million (about $490m) from its largest shareholder, China’s state-owned CITIC Metal, that will be used towards speeding up construction of a giant copper mine in the Democratic Republic of Congo.

CITIC to pay royalties to Mineralogy following appeal rejection

Mining News Pro - CITIC has had its appeal case against Clive Palmer’s Mineralogy rejected, forcing the Chinese company to pay royalties from its iron ore project in Pilbara, Western Australia.

Citigroup says Venezuela deal covered $1.6 billion in gold

Mining News Pro - Citigroup Inc. said it entered into a financing deal with Venezuela’s central bank in 2015 essentially using $1.6 billion of gold held at the Bank of England as collateral.

Exciting times ahead for innovative Northparkes copper mine

Mining News Pro - Northparkes was Australia’s first highly efficient block cave mine, celebrated for its high quality copper and gold deposits and being the world’s most automated underground mine. Now, there are significant new operations afoot.

Indian Sponge Iron Exports Increasing on Rising Melting Capacities in Bangladesh

Mining News Pro - Sponge iron exports from India to Bangladesh are continuously rising, with ramping up steel production capacities in Bangladesh.

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