Metal

Thyssenkrupp, the German conglomerate known for producing steel, submarines, and automotive parts, has revised its full-year outlook downward, citing persistently weak demand for its products. This announcement led to a decline in its shares during late trading in Frankfurt. The company indicated that its efficiency program, APEX, launched last year, has helped to mitigate some […]

Twelve companies, including global mining giant Rio Tinto and Chinese electric vehicle manufacturer BYD, have submitted proposals to extract lithium from Chile’s Altoandinos salt flats, as announced by the state mining company ENAMI. This region in northern Atacama is part of the Chilean government’s initiative to enhance lithium production through new partnerships. ENAMI initiated its […]

Eramet has upgraded its full-year core earnings outlook following a significant increase in manganese prices, despite anticipating ongoing difficulties in the nickel market, which negatively impacted the company’s first-half results. The French mining company reported a 27% decline in adjusted earnings before interest, tax, debt, and amortization (EBITDA) for the first half, totaling 247 million […]

Citi Research has projected that copper prices will likely face challenges in the short term but are expected to recover to $9,500 per ton within three months, with a potential rise to $11,000 by early 2025. This forecast marks a revision from previous estimates of $10,000 and $12,000 for the 0-3 month and 6-12 month […]

India’s recent reduction of import duties on gold and silver has effectively halted the import of silver and platinum from the UAE, which previously benefited from concessionary duties under the Comprehensive Economic Partnership Agreement (CEPA). The Indian government slashed import duties on gold and silver from 15% to 6%, eliminating the duty arbitrage that bullion […]

Eurofer, the European steel industry group, has revised its forecasts for the steel market recovery downward for the third time this year, citing weaker-than-expected demand. General director Axel Eggert highlighted that reduced consumer demand is impacting the sector’s financial health, jeopardizing its investment capabilities. Eggert emphasized the urgency of significant infrastructure investments needed for Europe’s […]

Barrick Gold’s second-quarter gold output rose by nearly 0.9% compared to the previous quarter, driven by increased production at the Turquoise Ridge mine in Nevada and expansion efforts at the Porgera mine in Papua New Guinea. The company’s total preliminary gold output for the quarter ending June 30 reached 948,000 ounces, up from 940,000 ounces […]

Anglo American reported a further $1.6 billion writedown on its British fertiliser project, while CEO Duncan Wanblad expressed optimism about finalizing a deal to sell the company’s coal assets by early 2025, despite a recent fire at its Grosvenor mine. This move comes as Wanblad faces pressure to enhance returns for investors and execute a […]

The Italian government has reported that six international and domestic companies have expressed interest in acquiring the steelworks of Acciaierie d’Italia (ADI), previously known as Ilva. The interested parties include India’s Vulcan Green Steel and Steel Mont, Ukraine’s Metinvest, Canada’s Stelco, and Italian firms Arvedi and Marcegaglia. This development is significant for Italian Prime Minister […]

First Quantum Minerals announced that Jiangxi Copper will have the right to nominate one individual to its board of directors. This decision comes as part of a new shareholder rights agreement (SRA) aimed at maintaining a cautious distance from its largest shareholder. Under the terms of the SRA, Jiangxi has agreed to a customary standstill […]