Metal

Long-term uranium contract prices have reached over 16-year highs due to supply uncertainties and increasing demand from utilities aiming to expand their capacity for powering data centers driven by AI. Current term prices are approximately $79 per pound, the highest level since 2008, with expectations for further increases in the coming months. Cameco, a prominent […]

Fortescue Metals Group’s shares fell over 9% on Tuesday, reaching their lowest point in 21 months, following a discounted block trade valued at A$1.9 billion ($1.24 billion). The stock dropped to A$18.47, marking its worst session since June 2022 amid broader weakness in the mining sector. The block trade involved shares offered at a variable […]

Glencore has maintained its 2024 production guidance for most metals while increasing its coal output forecast following the acquisition of Teck’s steelmaking coal unit. The company will announce its decision on whether to separate its coal assets during its half-year financial results next week. CEO Gary Nagle stated that Glencore is consulting with shareholders to […]

Global miner BHP Group and Canada-listed Lundin Mining will jointly take over developer Filo Corp for C$4.5 billion ($3.25 billion), as they aim to advance their South American projects. The two companies will form a 50/50 joint venture to manage the Filo del Sol and Josemaria projects located along the Argentine-Chile border. They have offered […]

China’s gold consumption in the first half of 2024 fell by 5.61% compared to the same period last year, according to data from the Gold Association. The country, which is the world’s largest gold consumer, used 523.75 metric tons of gold from January to June. The demand for gold jewellery, which accounts for 51.6% of […]

Russia’s Nornickel, the world’s largest producer of palladium and a significant refined nickel producer, reported a 1% decrease in nickel output for the first half of the year. However, the company has confirmed it will maintain its 2024 production guidance for both metals. Nornickel’s full-year nickel production forecast remains between 184,000 and 194,000 metric tons, […]

The London Metal Exchange (LME) has officially approved the port city of Jeddah in Saudi Arabia as a warehouse delivery point for copper and zinc. This listing will become active three months after the first warehouse company is approved at the new location. LME-registered warehouses are typically situated in areas of high metals consumption or […]

The union representing nearly 2,400 workers at BHP’s Escondida mine in Chile, the world’s largest copper mine, has urged its members to reject the company’s final contract offer and prepare for a potential strike. Union President Patricio Tapia announced that workers will vote from Monday to Thursday on the proposal. If the contract is rejected, […]

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 […]