Metal

The powerful union at BHP’s Escondida copper mine in Chile, which produced nearly 5% of the world’s copper in 2023, is currently on strike, aiming to disrupt production and secure a larger share of profits. The union has a history of effectively striking, previously causing significant spikes in global copper prices during past walkouts. The […]

BHP has initiated the removal of striking workers at its Escondida copper mine in Chile, following the collapse of pay negotiations with the powerful Union No. 1. This strike, declared just hours prior, threatens to significantly impact production at the world’s largest copper mine, which produced 1.1 million metric tons last year. After the union […]

Iron ore futures in Singapore fell for the second consecutive session, reaching their lowest point in nearly two weeks due to weakening demand from China, the top consumer. The benchmark September iron ore price on the Singapore Exchange dropped by 0.36% to $98.95 per metric ton, with an earlier low of $98.25 during the session. […]

Copper production in Peru fell by 11.7% year-on-year in June, totaling 213,578 metric tons, according to the country’s energy and mines ministry. For the first half of 2024, Peru produced 1.29 million tons of copper, a decrease of 2.1% compared to the same period last year. As the world’s third-largest copper producer, Peru recently lost […]

India is set to provide funding to research institutes for technical assistance to miners as part of its initiative to develop a critical minerals industry. This move aims to reduce the country’s heavy reliance on imports of lithium and rare earth minerals, which are essential for energy transition technologies. Despite previous efforts, India’s attempts to […]

Workers at BHP’s Escondida copper mine in Chile are set to strike starting Tuesday after unsuccessful negotiations with the company. The union representing approximately 2,400 workers announced that there were no “substantive” advances during five days of government-mediated talks. The strike is scheduled to begin at 8 a.m. local time (1200 GMT). The union stated, […]

Jinteng Mining, a subsidiary of Zijin Mining Group, has initiated a judicial review against the Canadian government’s decision regarding the sale of a gold mine in Peru. The review targets the order from Minister Francois-Philippe Champagne, which called for a national security review of Jinteng’s acquisition of Pan American Silver Corp’s gold asset for $245 […]

Gold Fields Ltd has announced its agreement to acquire Osisko Mining for C$2.16 billion (approximately $1.57 billion). The Johannesburg-based gold producer will pay C$4.90 per share, representing a 55% premium over Osisko’s trading price as of August 9. This acquisition is aimed at strengthening Gold Fields’ presence in the Americas, where it already operates mines […]

BHP, Rio Tinto, and Qantas have announced a joint investment of A$80 million (approximately $52.7 million) in an Australian carbon credits fund focused on land reforestation projects. This initiative aims to support the generation and management of Australian Carbon Credit Units (ACCUs) through reforestation efforts. Managed by Silva Capital—a collaboration between Roc Partners and C6 […]

Barrick Gold has reported a second-quarter profit that exceeded Wall Street estimates, driven by higher gold and copper prices alongside robust production levels. The company’s U.S.-listed shares saw a 2.1% increase in pre-market trading. The rise in gold prices, which jumped 19% to an average of $2,344 per ounce, and a 22% increase in copper […]