Metal

Australian battery metal producer IGO Ltd has announced that it will record a non-cash impairment charge against its nickel exploration assets for the fiscal year 2024. This will bring IGO’s total nickel impairments up to nearly A$1.5 billion in the past two years. The impairment charges, expected to be between A$275 million (US$185.9 million) and […]

India’s four-week platinum imports from mid-June have eclipsed the country’s total platinum imports for 2023, as bullion dealers have been exploiting a loophole to register alloys containing around 90% gold as platinum in order to avoid higher import duties. In this time frame, dealers cleared 13 metric tons of these metal consignments valued at around […]

Global mining giant Rio Tinto reported second-quarter iron ore shipments below analyst estimates on Tuesday, reflecting the impact of a train derailment in mid-May on its production. Rio Tinto shipped 80.3 million tons (Mt) of iron ore from its Pilbara operations in the three months ended June 30. This was 3% higher than the previous […]

The U.S. has approached Indonesia about joining the Mineral Security Partnership (MSP), a multinational collaboration aimed at accelerating the development of sustainable critical minerals supply chains. This comes as the two countries discuss a potential critical minerals deal. U.S. Under Secretary of State for Economic Growth, Energy, and the Environment Jose Fernandez spoke to the […]

The United Nations’ International Seabed Authority (ISA) is meeting this week to consider new rules allowing firms to extract minerals from the ocean floor, despite mounting concerns about the economic and environmental risks. Supporters argue that deep sea mining will help boost supplies of raw materials like cobalt and nickel, which are needed for the […]

According to data from China’s National Bureau of Statistics (NBS), the country’s crude steel output in June fell 1.3% from May, curbed by dwindling demand and shrinking steel margins. The world’s largest steel producer made 91.61 million metric tons of crude steel last month, down from 92.86 million tons in May. However, it was still […]

According to data from China’s National Bureau of Statistics (NBS), the country’s production of primary aluminum in June rose to the highest level in nearly a decade. China, the world’s biggest aluminum producer, churned out 3.67 million metric tons of primary aluminum, up 6.2% year-on-year. This marked the highest single month of production in Reuters’ […]

According to a report by Sky News, mining giant Rio Tinto RIO.L is studying a refreshed list of takeover targets that includes Canadian miner Teck Resources TECKb.TO. The report, citing unnamed sources, states that Rio has drawn up detailed proposals for a potential bid for Teck, which is valued at nearly 35 billion Canadian dollars […]

Low prices for critical minerals needed for the green energy transition, such as lithium, cobalt, and rare earths, are curbing efforts by the West to fight the dominance of China in this sector, according to the CEO of U.S. government-backed investment vehicle TechMet. Oversupply and weak prices are dampening the cashflows of Western start-ups, making […]

China’s unwrought copper imports declined in June to a 14-month low, customs data showed on Friday. Imports of unwrought copper and products were 436,000 metric tons last month, down 3% from the 449,649 tons a year earlier and the lowest since April 2023. The decline in copper imports was attributed to weak domestic demand, as […]