Metal

India has decided to abandon its plan to establish a consortium of state-run companies for the joint negotiation of coking coal imports, a crucial raw material for steel production. This decision comes amid disagreements among steel mills regarding the specific grades of coking coal they require. As the world’s second-largest crude steel producer, India imports […]

Energy Resources of Australia (ERA) has initiated legal proceedings against Australia’s Resources Minister Madeleine King and the Northern Territory’s Minister for Mining Mark Monaghan after its lease for the Jabiluka uranium deposit was not renewed. ERA claims it was denied the opportunity to present its case in the decision-making process. The Jabiluka uranium deposit, located […]

Japanese trading house Itochu Corporation (8001.T) announced on Monday that it will invest 220 billion yen ($1.5 billion) to gain full control of two subsidiaries, including the apparel company Descente (8114.T), and initiate a share buyback worth 150 billion yen starting Tuesday. This move aligns with a broader trend among Japanese firms to eliminate dual […]

Shares of Aurubis, Europe’s largest copper producer, fell by as much as 8.8% on Monday following a third-quarter earnings report that missed analysts’ expectations. The company’s earnings before tax (EBT) rose five-fold to €90 million ($98 million) compared to the same period last year, which was impacted by a significant metals theft at its smelting […]

China’s CMOC (China Molybdenum Co.) and several other miners are applying to have copper from the Democratic Republic of Congo (DRC) registered for delivery against London Metal Exchange (LME) contracts. If successful, this could lead to significant quantities of DRC copper, the world’s second-largest producer, being available in LME-approved warehouses as early as next year. […]

Copper prices have plummeted to their lowest levels in 4.5 months, driven by a deteriorating demand outlook in China and the United States, the world’s two largest economies. The decline has been exacerbated by signs of stalled industrial activity in China, which has led to a 20% drop in prices since reaching record highs above […]

Copper prices saw a slight increase on Friday, buoyed by expectations of U.S. interest rate cuts and a modest rise in physical demand from China. Three-month copper on the London Metal Exchange rose 0.5% to $9,097 per metric ton, recovering after a 1.9% decline the previous day. Amelia Xiao Fu, head of commodity market strategy […]

A First Nation group in Yukon has urged the government to take action to remove the management of Victoria Gold Corp, citing the company’s failure to address environmental damage caused by its Eagle Gold mine. The mine is located on land belonging to the Na-Cho Nyäk Dun First Nation (FNNND). Concerns escalated in June when […]

Hindustan Zinc reported a 19.4% increase in net profit for the April-June quarter, totaling 23.45 billion rupees ($280.1 million). This marks the company’s first profit rise after six consecutive quarters of decline, attributed to higher zinc prices and increased demand. Analysts had anticipated a profit of 22.83 billion rupees. The prices of zinc, lead, and […]

Alex Beard, the former head of oil at Glencore, has been charged with bribery offences related to the company’s operations in Africa, as announced by Britain’s Serious Fraud Office (SFO). Beard, 56, faces charges for two conspiracies to make corrupt payments to government officials and officials of state-owned oil companies in Nigeria from 2010 to […]