Metal

Aluminium prices stabilized on Thursday after reaching a six-week high earlier in the session, driven by a stronger dollar that offset fund buying amid tight supply concerns. The three-month aluminium contract on the London Metal Exchange rose 0.2% to $2,492 per metric ton, having peaked at $2,531, the highest price since July 9. Market analysts […]

Lucara Diamond Corp has announced the discovery of a remarkable 2,492-carat diamond at its Karowe mine in Botswana. This diamond is notable for being one of the largest ever excavated, ranking as the second largest rough diamond found to date, following the historic 3,106-carat Cullinan Diamond discovered in South Africa in 1905. While Lucara has […]

Whitehaven Coal has reported a significant drop in its full-year profit due to cooling coal prices, which have retreated from the record highs experienced following Russia’s invasion of Ukraine. The company announced an annual underlying net profit after tax of A$740 million ($499.35 million) for the year ending June 30, a substantial decline from A$2.66 […]

China has announced its second batch of rare earths mining output quota for 2024, setting it at 135,000 metric tons, as stated by the Ministry of Industry and Information Technology. This new quota marks a 12.5% increase from the previous year, bringing the total output quota for the year to 270,000 tons, which is a […]

Chile’s SQM (Sociedad Química y Minera de Chile), the world’s second-largest lithium producer, experienced a significant 63.2% drop in its quarterly profit, reporting $213.6 million, or 75 cents per share, for the second quarter. This figure fell short of analysts’ expectations, which had anticipated a profit of $296.7 million, or 95 cents per share. The […]

India has remained a net importer of steel during the first four months of the fiscal year beginning in April, with China emerging as the largest supplier. Provisional government data indicates that India imported 2.69 million metric tons of steel while exporting only 1.57 million tons in the same period. As the world’s second-largest crude […]

Chilean copper giant Codelco is undertaking significant investments to enhance its sustainability credentials in response to increasing pressure from global clients for environmentally responsible mining practices. This effort includes the introduction of electric buses, the establishment of cactus nurseries, and initiatives to recycle metal materials and tools. As the world’s largest copper producer, Codelco is […]

The prices of rare earth elements, crucial for technologies ranging from lasers to electric vehicles, are under significant pressure due to weak demand and ample supply. In the first seven months of 2024, exports of rare earths from China, the leading producer, increased by 7.5% year-on-year. However, despite this rise, prices have fallen to their […]

In July, China significantly increased its coal imports from Indonesia, Mongolia, and Australia, driven by higher demand due to hotter weather. Customs data revealed that total coal imports rose to a seven-month high of 46.21 million tons, marking an 18% increase year-on-year. Notably, Indonesia, the largest coal exporter to China, saw its shipments rise by […]

BHP’s swift resolution of a recent six-day strike at its Escondida copper mine in Chile may influence upcoming labor negotiations across the mining sector. The strike, initiated by Union No. 1 members demanding better pay and benefits, concluded with a favorable agreement that included a substantial bonus and an interest-free loan of approximately $34,000 for […]