Metal

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, […]

U.S. Steel and Nippon Steel have filed a lawsuit against President Joe Biden, claiming that his administration unlawfully blocked their $14.9 billion merger bid through a biased national security review process. The companies are seeking to have a federal appeals court overturn this decision, allowing them another opportunity for approval without political interference. Key Highlights:Allegations […]

The Biden administration has issued the final mining permit for Perpetua Resources’ antimony and gold project in Idaho, a strategic move to enhance U.S. production of critical minerals amid escalating trade tensions with China. Key Highlights:Permit Issuance: The U.S. Forest Service released the final record of decision for Perpetua’s Stibnite project after an extensive eight-year […]

President Joe Biden has officially blocked the proposed acquisition of U.S. Steel by Japan’s Nippon Steel, valued at $14.9 billion, citing national security concerns. This decision comes after a year-long review and is a significant setback for the deal, which faced bipartisan opposition from the outset. Key Highlights:Background of the Deal: Announced in December 2023, […]