Metal

Indonesian mining company PT Delta Dunia Makmur has announced that it will acquire Atlantic Carbon Group Inc for $122.4 million. Through this deal, Delta Dunia Makmur will secure ownership of four mines producing ultra-high grade anthracite in Pennsylvania, United States. In a statement, the company said that the acquisition will strengthen its position in the […]

Chinese mining company MMG 1208.HK has announced plans to raise approximately HK$9.08 billion ($1.16 billion) through a rights issue. The primary purpose of the fund-raising is to repay existing debt and support the ongoing development of the company’s operating mines. The rights issue, which is the largest such offering in Hong Kong for more than […]

In a move to boost its tax revenues, the Russian finance ministry has proposed increasing mineral extraction rents from next year on diamond, gold, and iron ore mining. These changes could potentially generate an additional 230.5 billion roubles ($2.59 billion) in revenue for the government between 2025 and 2027. The proposed tax hikes would be […]

In a move to further regulate its raw mineral exports, the Indonesian government has announced that it will impose a 7.5% export tax on shipments of copper concentrate, effective immediately. This new tax applies to the two mining firms currently exempt from Indonesia’s ban on raw copper exports. Indonesia has outlawed the shipment of raw […]

In a historic summit, South Korean President Yoon Suk Yeol and the leaders of 48 African nations have agreed to deepen their trade, business, and development cooperation. The main highlights of the summit include the launch of a “Critical Minerals Dialogue” and a pledge by South Korea to increase its development aid for Africa to […]

China’s Tianqi Lithium, a major shareholder in Chile’s SQM (Sociedad Química y Minera de Chile), has said it may consider taking action to protect its interests in a key deal signed by SQM and Chilean state miner Codelco. The deal, announced on Friday, is seen as pivotal to boosting Chile’s lithium output, but it could […]

The Australian government, led by Treasurer Jim Chalmers, has ordered several China-linked investors to dispose of their shares in rare earths miner Northern Minerals NTU.AX on national interest grounds. Northern Minerals is developing the Browns Range heavy rare earths project in Western Australia, a sector that has become increasingly strategic for its uses in green […]

Freeport Indonesia, the majority state-owned copper miner operated by U.S. company Freeport-McMoran, has raised its output guidance for the year as it awaits an extension of its copper concentrate export permit from the Indonesian government. According to Jenpino Ngabdi, Freeport Indonesia’s deputy chief executive, the company has lifted its copper concentrate output target for 2023 […]

Nippon Steel’s Vice Chairman Takahiro Mori is planning to return to the United States this week for more talks regarding the proposed $14.9 billion acquisition of U.S. Steel. The visit comes just weeks after Mori’s previous trip to the U.S. from May 20-26, highlighting the company’s efforts to close the deal amid growing regulatory scrutiny […]

Copper prices bounced back on Friday after data showed U.S. inflation was steady, giving more confidence that the Federal Reserve may cut interest rates this year and weighing on the dollar. However, earlier, weak manufacturing data in top metals consumer China had weighed on copper prices. Three-month copper on the London Metal Exchange was up […]