Metal

Australia’s South32 is actively seeking to increase its copper production through both acquisitions and expansions of existing operations, as the company reported a yearly profit that exceeded market expectations. CEO Graham Kerr highlighted the importance of copper in the energy transition, expressing a desire to acquire a larger stake in the Sierra Gorda mine in […]

Russia’s Rusal, the largest aluminium producer outside China, reported a remarkable 42% increase in its first-half adjusted net profit, driven by significant cost reductions that offset a decline in sales and prices. The company announced this growth despite facing challenges due to geopolitical tensions stemming from the Ukraine conflict, which have led to decreased demand […]

U.S. miners and battery recyclers are urgently seeking to finalize government loans worth billions before January, driven by fears that former President Donald Trump might block funding for critical minerals projects if reelected. The mining industry, traditionally conservative, is now looking to Washington for support amid falling prices for lithium, nickel, and other minerals, as […]

Brazilian miner Vale has announced that Chief Financial Officer Gustavo Pimenta will take over as CEO, a decision made to curb market speculation about potential candidates. This announcement comes ahead of the company’s original timeline for leadership succession, which was set for early December. Chairman Daniel Stieler stated that this proactive move was intended to […]

A global aluminium producer has proposed a premium of $185 per metric ton for primary metal shipments to Japan for the October-December quarter. This represents an 8% increase from the current quarter’s premium of $172 per ton, which was agreed upon for July-September. Japan is a key importer of aluminium, and the premium set in […]

Australia’s Fortescue Metals Group (FMG.AX) has reported a rise in annual profit, driven by increased iron ore shipments from its Iron Bridge project. The company announced a final dividend that exceeded expectations, leading to a rise in its share price. In fiscal 2024, Fortescue achieved total iron ore shipments of 191.6 million tonnes, marking the […]

India is set to engage in broader consultations with steel companies regarding the proposed import curbs on low ash metallurgical coke (met coke), a key raw material in steel production. This follows an April proposal from the Directorate General of Trade Remedies (DGTR) to impose a country-specific import quota, limiting imports to 2.85 million metric […]

Baoshan Iron & Steel Co., known as Baosteel, reported nearly flat net profit for the first half of 2024, earning approximately 4.55 billion yuan ($638.58 million). This figure represents a slight decline of 0.17% compared to the same period in 2023, when profits fell by 41.6% due to sluggish demand and high raw material costs. […]

Polyus, Russia’s largest gold miner, reported a remarkable 183% increase in first-half profit, reaching $1.58 billion, despite facing Western sanctions. This surge was primarily driven by elevated global gold prices, which have reached record highs this year. The company’s adjusted EBITDA rose 20% to $2.02 billion, with revenue increasing 16% to $2.73 billion. Polyus attributed […]

BHP CEO Mike Henry has downplayed his company’s recent acquisition attempts, particularly the failed $47 billion bid for Anglo American, stating that organic growth is the primary focus. However, the ongoing steel crisis in China may make mergers and acquisitions (M&A) more attractive for miners. China produces about half of the world’s two billion tons […]