Metal

A train derailment on Angola’s Lobito Corridor has affected the transportation of commodities, including copper concentrates. The incident occurred between the Cavimbe and Cangumbe stations on Thursday, involving a train carrying sulfur, according to Lobito Atlantic Railway (LAR). The Lobito Corridor serves as a crucial trade route linking the resource-rich Democratic Republic of Congo to […]

Aluminum Corporation of China (Chinalco) is reportedly exploring a $2 billion stake in Indophil Resources Phils. This move aims to secure access to what could be the Philippines’ largest gold and copper mine, according to a Bloomberg News report. Chinalco, a state-owned aluminum producer, is looking to enhance its global presence through this investment. Indophil […]

Whitehaven Coal (WHC.AX) has announced it will cut 192 jobs at the Daunia and Blackwater coking coal mines recently acquired from BHP Group (BHP.AX). This decision comes as part of a restructuring plan aimed at streamlining operations after the $4.1 billion acquisition, completed in April. The job cuts include 91 positions directly across the Daunia […]

Shares of Chinese antimony producers surged by up to 10% on Friday after the Chinese government announced plans to limit exports of antimony, a strategic mineral critical for various military and industrial applications. The new export restrictions will take effect on September 15, as stated by China’s commerce ministry. China is the world’s leading supplier, […]

Malaysia’s trade ministry has initiated an anti-dumping duty investigation concerning imports of flat-rolled products made from iron or non-alloy steel from China, India, Japan, and South Korea. This decision comes in response to a petition filed by a domestic producer, received on July 15. The petitioner claims that these flat-rolled products, which are 600 millimeters […]

Pilbara Minerals (PLS.AX), an Australian lithium miner, has announced its decision to acquire smaller competitor Latin Resources (LRS.AX) for an implied value of A$559.9 million ($369.4 million). This strategic move aims to diversify Pilbara’s operations in the growing lithium market. Under the all-share agreement, Latin Resources shareholders will receive 0.07 new Pilbara shares for each […]

Workers at BHP’s Escondida copper mine in Chile have firmly rejected the company’s request to pause their strike and return to negotiations. The union, which initiated the strike on Tuesday following a breakdown in contract talks, is demanding a larger share of profits from the world’s largest copper mine. The strike’s commencement could significantly impact […]

China has announced it will impose export limitations on antimony and related elements, citing national security concerns. This decision, made by the commerce ministry, is part of a broader strategy to restrict the shipment of critical minerals, where China holds a dominant position as a supplier. In the previous year, China accounted for 48% of […]

China’s Xuzhou Construction Machinery Group (XCMG) has signed a significant agreement with Simfer, a joint venture of global miner Rio Tinto, to supply essential equipment for the Simandou iron ore project in Guinea. This project is poised to become the world’s largest and highest-grade new iron ore mine, with an anticipated annual production capacity of […]

Thyssenkrupp has reported a net loss of €54 million ($59 million) for its fiscal third quarter, a stark contrast to a profit of €83 million during the same period last year. The loss is attributed to higher-than-expected costs related to legacy projects and ongoing restructuring challenges, which have led the company to halt the sale […]