Metal

Vedanta Resources Ltd has announced that it has arranged the financing needed to start paying creditors of its Konkola Copper Mines (KCM) in Zambia, as the company takes steps to revive operations after regaining control of the assets. The miner, owned by Indian billionaire Anil Agarwal, will have around $250 million to pay small creditors […]

China’s Ministry of Ecology and Environment (MEE) has issued draft rules to allow more imports of recycled copper and aluminium, in a move to improve supply and industry competitiveness. The world’s top metals producer and consumer has been looking to raise the usage of recycled metals as part of its efforts to lower carbon emissions […]

India is set to import coking coal from Mongolia on a trial basis starting later this month, as New Delhi looks to diversify its sources of this key steelmaking raw material and reduce its over-reliance on Australia. According to two sources familiar with the matter, Indian steelmakers including JSW Steel and the state-owned Steel Authority […]

Iron ore prices have climbed to a one-month high, with the most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) closing nearly 1.8% higher at 864.5 yuan ($118.89) per metric ton. The benchmark August iron ore on the Singapore Exchange also rose 0.3% to $113.75 per ton, the highest since June 3. The […]

French mining group Eramet has announced plans to start production at its new Centenario lithium plant in Argentina in November, with the goal of reaching a capacity of 24,000 metric tons of battery-grade lithium by mid-2025. The $870 million Centenario project, a joint venture between Eramet (50.1%) and Chinese nickel and steel giant Tsingshan, is […]

India’s diamond cutting and polishing industry is facing significant headwinds due to slowing demand from its largest export market, China. Vipul Shah, the chairman of the Gem and Jewellery Export Promotion Council (GJEPC), stated that India’s cut and polished diamond exports fell nearly 15% in the June quarter compared to a year earlier, following a […]

The London Metal Exchange (LME) announced that its futures and options trading volumes reached a 10-year high in the second quarter of 2023. The exchange’s average daily volumes jumped 27% compared to the same period last year. This surge in trading activity on the LME, which is the world’s largest market for industrial metals, reflects […]

Takahiro Mori, the vice chairman of Nippon Steel 5401.T, plans to return to the United States next week again to discuss the Japanese firm’s proposed $15 billion acquisition of U.S. Steel X.N. This will be Mori’s third trip to the U.S. in the past two months, highlighting the importance of the proposed takeover to the […]

Shares of Canadian miner First Quantum Minerals closed 5% higher on the Toronto Stock Exchange on Tuesday after Panama announced it would conduct an environmental audit of the company’s Cobre Panama mine to decide whether it can safely reopen. Panama’s government had ordered the closure of the Cobre Panama mine, one of the newest and […]

Copper miner PT Freeport Indonesia has secured an export permit for copper concentrate for the rest of the year, according to the company’s spokesperson Agung Laksamana. However, Laksamana did not provide details on the export volume. Indonesia had earlier announced that it would allow Freeport to continue exporting copper concentrate for the rest of the […]