Metal

Glencore and Rio Tinto engaged in early-stage merger discussions last year, but the talks have since stalled, according to a source familiar with the matter. This move comes as global mining companies aim to increase their exposure to copper amid rising demand linked to the clean energy transition. Key Highlights:Merger Discussions: Glencore approached Rio Tinto […]

Peru’s copper production experienced a notable decline in November, primarily attributed to a significant drop in output from the Antamina mine, as reported by the nation’s energy and mines ministry. Key Highlights:Production Figures: National copper output fell by 4.6% in November compared to the same month last year, totaling 241,883 metric tons.Cumulatively, copper output from […]

Analysts suggest that prices of rare earth minerals are poised to stabilize in 2025 after experiencing a two-year decline. This shift is attributed to reduced mining output in China aimed at protecting domestic producers, coupled with increasing demand from electric vehicles and humanoid robots, which is gradually depleting the current supply glut. Key Highlights:Price Trends: […]

Despite rising aluminium prices for U.S. consumers following Donald Trump’s election win, the increase has been modest, suggesting that the aluminium industry does not anticipate the President-elect will implement his proposed tariffs on Canadian imports. Key Highlights:Market Response: Since Trump’s victory in November, primary aluminium prices in the U.S. have increased, but only by about […]

The European Commission is set to propose a ban on imports of Russian primary aluminium as part of its 16th sanctions package against Russia, following its invasion of Ukraine. This move is expected to be finalized in February, coinciding with the third anniversary of the conflict. Key Highlights:Sanctions Overview: The proposed ban on Russian aluminium […]

Barrick Gold (ABX.TO) has announced the suspension of its mining operations in Mali following the government’s seizure of gold stocks from its Loulo-Gounkoto complex. The gold, estimated to be around three metric tons and valued at approximately $245 million, was removed by helicopter over the weekend. Key Highlights:Seizure Details: The gold was taken from the […]

Cleveland-Cliffs (CLF) is reportedly collaborating with Nucor (NUE) to prepare a potential all-cash bid for U.S. Steel (X), aiming for an offer in the high $30s per share, according to a source familiar with the matter. Key Highlights:Bid Details: The plan involves Cleveland-Cliffs acquiring all of U.S. Steel and subsequently selling its Big River Steel […]

Copper production from Codelco, the world’s largest copper producer and a state-run miner in Chile, saw a significant increase of nearly 17% in November. This surge contributed to an overall rise in copper output in the country by approximately 10%, according to data released by the copper commission Cochilco. Key Highlights:Codelco’s Production: Codelco produced 133,600 […]

Indonesia has announced a nickel ore mining quota of approximately 200 million metric tons for this year, according to a senior official from the Ministry of Energy and Mineral Resources. This quota may be adjusted downward if mining companies fail to meet environmental and regulatory standards. Key Highlights:Quota Details: The initial quota is set at […]

Barrick Gold Corporation has announced that it will suspend its operations in Mali if the government does not lift restrictions on gold shipments within the next week. This ultimatum comes as the mining giant faces what sources describe as a potential confiscation order related to its gold stock. Key Highlights:Operational Threat: Barrick’s Loulo-Gounkoto mining complex, […]