Awarding the Resistance Economy Badge to Golgohar Iron and Steel Development Company
Mining News Pro - In the first provincial festival "Resistance Economy Badge" which was held with the main goal of setting a pattern and creating a competitive environment for production, Gol Gohar Iron and Steel Development Company received the first grade provincial badge of resistance economy.
In the closing ceremony of this festival, which was held this morning in the presence of the Deputy Minister of Industry Trade and Mine, the Deputy Governor, the Commander of the Kerman Province Corps, the General Director of the Ministry of Industry Trade and Mine Province, Labor and Social Welfare and some other provincial officials in Kerman, GolGohar Company received the badge.
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NICICO supports innovative projects aimed at reducing costs and increasing productivity
Mining News Pro - CEO of Iran National Copper Industry Company said: NICICO supports any innovative and technological plan that leads to new products and process improvement and increase productivity and cost reduction in the copper industry.
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Improving the record of transporting all kinds of products to customers in MSC
Mining News Pro - The sales and transportation manager of Mobarakeh Steel Company announced the increase in the delivery of products to customers as a success and another step in the direction of maximum and timely response to the needs of customers and creation of common value for the society by Mobarakeh Steel.
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China’s central bank paused gold purchases in May after 18 months of buying
China’s central bank paused gold purchases to its reserves in May, when spot gold prices hit a record high, after 18 months of consecutive purchases, official data showed on Friday.
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China May rare earth exports jump 36% y/y on restocking
China’s exports of rare earths in May climbed 35.9% from a year earlier, customs data showed on Friday, buoyed by a wave of restocking from overseas buyers.
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Iron ore extends gain on easing China demand concern, Fed rate cut bets
Iron ore futures rose for a second straight session on Friday, underpinned by easing concerns over demand prospects in top consumer China and firming bets for a US Federal Reserve interest rate cut in September.
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Zambia sees KoBold spending $2.3 billion on giant copper mine
KoBold Metals, the Bill Gates-backed mining exploration company, could spend $2.3 billion to build a major new copper mine in Zambia, President Hakainde Hichilema said, citing figures from the company.
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Gold price falls most in two years on jobs data, China buying pause
Gold fell the most in more than two years as surprise strength in a key US jobs report dashed hopes that the Federal Reserve will be able to start lowering borrowing costs soon.
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Opening of new mines boosts Ivory Coast 2023 gold output
Ivory Coast’s gold output hit a record high in 2023, helped by the opening of new mines, and will continue to grow further, mines minister Mamadou Sangafowa Coulibaly said on Thursday.
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Glencore said to weigh selling stake in Kazakh miner Kazzinc
Glencore Plc is considering selling its stake in Kazakh mining company Kazzinc amid interest from potential buyers in China, people familiar with the situation said.
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Iron ore price hits seven-week low on softening China steel demand, higher supply bets
Iron ore futures extended their decline to a fifth straight session on Wednesday, hitting a seven-week trough, pressured by faltering steel demand and expectations of higher shipments to top consumer China in June.
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Mali gold mining revenue fell by 26% in 2023
State revenue from gold mining companies in Mali fell 26% last year, hit by lower taxes, a document from the west African country’s mines ministry showed on Wednesday.
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Copper price falls through $10,000 as exchange inventories keep rising
Copper fell below $10,000 a metric ton as traders weighed a sharp rise in global inventories and soft US job openings data that reinforced bets that the Federal Reserve will be able to cut interest rates this year.
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German coal company to get about €1 billion for shutting mines
Germany’s second largest coal miner is likely to receive in the region of €1 billion ($1.1 billion) in compensation for the shutdown of its fossil operations, with the European Commission set to heavily cut down on agreed state aid, according to people familiar with the matter.
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The home of Malbec wine makes a play for copper in Argentina mining revival
Argentina’s Mendoza province, known for Malbec vineyards that draw tourists from across the world, is moving to spur exploration of its copper deposits long shunned by prospectors due to restrictions and red tape.
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Anglo starts formal divestment of coal, nickel after rebuffing BHP
Anglo American is starting a formal process to sell its coal assets and explore options for its nickel operations after fending off a takeover threat from bigger rival BHP Group, chief executive Duncan Wanblad said on Thursday.
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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.
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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.
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Iron ore price dips as falling China demand
Iron ore futures prices slid on Monday after some investors and traders liquidated long positions to cash in profits on bets of faltering consumption amid seasonally slack steel demand in top consumer China.
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South32 CEO Kerr says open to buying joint Anglo American manganese assets
Australian diversified miner South32 is open to buying Anglo American’s share of two manganese operations the companies jointly own, should they come for sale at the right price, CEO Graham Kerr said on Thursday.
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Record gold and copper prices are also a boon for illegal mining in Peru
Record prices of gold and copper are buoying the spirits of mining leaders gathered in the Peruvian capital this week.
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At least two companies seek Norway seabed mining permits
Two companies said on Wednesday they are seeking offshore seabed acreage on the Norwegian continental shelf where they hope to explore for minerals, in what could be the start of a controversial new mining industry.
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Copper frenzy draws mining giants to Argentina after Milei’s reforms
Global mining heavyweights including Lundin Mining Corp., Glencore Plc and First Quantum Minerals Ltd. are piling into Argentina as a new government intent on luring foreign investment propels the companies closer than ever to opening up vast copper deposits in the red-hued Andes.
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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.
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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.
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