Metal

Pilbara Minerals (PLS.AX), an Australian lithium miner, has announced its decision to acquire smaller competitor Latin Resources (LRS.AX) for an implied value of A$559.9 million ($369.4 million). This strategic move aims to diversify Pilbara’s operations in the growing lithium market. Under the all-share agreement, Latin Resources shareholders will receive 0.07 new Pilbara shares for each […]

Workers at BHP’s Escondida copper mine in Chile have firmly rejected the company’s request to pause their strike and return to negotiations. The union, which initiated the strike on Tuesday following a breakdown in contract talks, is demanding a larger share of profits from the world’s largest copper mine. The strike’s commencement could significantly impact […]

China has announced it will impose export limitations on antimony and related elements, citing national security concerns. This decision, made by the commerce ministry, is part of a broader strategy to restrict the shipment of critical minerals, where China holds a dominant position as a supplier. In the previous year, China accounted for 48% of […]

China’s Xuzhou Construction Machinery Group (XCMG) has signed a significant agreement with Simfer, a joint venture of global miner Rio Tinto, to supply essential equipment for the Simandou iron ore project in Guinea. This project is poised to become the world’s largest and highest-grade new iron ore mine, with an anticipated annual production capacity of […]

Thyssenkrupp has reported a net loss of €54 million ($59 million) for its fiscal third quarter, a stark contrast to a profit of €83 million during the same period last year. The loss is attributed to higher-than-expected costs related to legacy projects and ongoing restructuring challenges, which have led the company to halt the sale […]

The powerful union at BHP’s Escondida copper mine in Chile, which produced nearly 5% of the world’s copper in 2023, is currently on strike, aiming to disrupt production and secure a larger share of profits. The union has a history of effectively striking, previously causing significant spikes in global copper prices during past walkouts. The […]

BHP has initiated the removal of striking workers at its Escondida copper mine in Chile, following the collapse of pay negotiations with the powerful Union No. 1. This strike, declared just hours prior, threatens to significantly impact production at the world’s largest copper mine, which produced 1.1 million metric tons last year. After the union […]

Iron ore futures in Singapore fell for the second consecutive session, reaching their lowest point in nearly two weeks due to weakening demand from China, the top consumer. The benchmark September iron ore price on the Singapore Exchange dropped by 0.36% to $98.95 per metric ton, with an earlier low of $98.25 during the session. […]

Copper production in Peru fell by 11.7% year-on-year in June, totaling 213,578 metric tons, according to the country’s energy and mines ministry. For the first half of 2024, Peru produced 1.29 million tons of copper, a decrease of 2.1% compared to the same period last year. As the world’s third-largest copper producer, Peru recently lost […]

India is set to provide funding to research institutes for technical assistance to miners as part of its initiative to develop a critical minerals industry. This move aims to reduce the country’s heavy reliance on imports of lithium and rare earth minerals, which are essential for energy transition technologies. Despite previous efforts, India’s attempts to […]