Metal

According to customs data, China’s imports of unwrought aluminium and aluminium products jumped 16% to 240,000 metric tons in June. This represents a significant increase compared to the same period a year earlier. In the first half of 2023, China’s total aluminium imports reached 2.04 million tons, up 70.1% from the same period in 2022. […]

Australian mining company Fortescue Metals Group (FMG.AX) has announced sweeping job cuts across its metals and energy divisions, as it slows the development of its green hydrogen business due to high power prices in Australia and a lack of strong demand. Fortescue, the world’s fourth-biggest iron ore miner, had embarked on a major expansion in […]

Mining company Anglo American has reduced its forecast for coking coal output this year after an underground fire at its Grosvenor coal mine in Australia. The fire, which started on June 29, has forced the company to stabilize the mine and re-establish gas monitoring before it can assess the steps towards a safe re-entry. Anglo […]

Contrary to the traditional view of gold as a “boring” investment, millennials and Gen Z investors are increasingly drawn to the precious metal. According to a recent study by Bank of America Private Bank, among wealthy investors under the age of 43, 45% own gold as a physical asset, and another 45% are interested in […]

Argentina has tripled its lithium carbonate equivalent (LCE) production capacity in the last two years, driven by new projects that have boosted installed capacity to 136,500 tons nationwide, according to the country’s Chamber of Mining Entrepreneurs (CAEM). Argentina, the world’s fourth-largest lithium producer, now has four projects in production, including the Centenario Ratones plant in […]

Despite pausing its gold purchases in May and June, China still has a strong appetite for official gold acquisitions, according to a policy insider, industry experts, and data. This is because China’s gold holdings remain low as a share of its reserves, and geopolitical tensions persist. China’s gold buying helped drive up spot gold prices […]

Rio Tinto, the global mining giant, has appointed Katie Jackson, a former Shell executive with responsibility for acquisitions, as its new copper head. Jackson, who is currently the president of UK-based energy infrastructure firm National Grid Ventures, will join Rio Tinto on September 1. She will succeed Bold Baatar, who will take on the role […]

BHP Group, the world’s largest listed miner, has reported record annual iron ore production for a second consecutive year. The company’s iron ore output was helped by improved weather conditions and a higher contribution from its South Flank operations in Western Australia. BHP beat analyst expectations for both its quarterly iron ore and copper production […]

Australian battery metal producer IGO Ltd has announced that it will record a non-cash impairment charge against its nickel exploration assets for the fiscal year 2024. This will bring IGO’s total nickel impairments up to nearly A$1.5 billion in the past two years. The impairment charges, expected to be between A$275 million (US$185.9 million) and […]

India’s four-week platinum imports from mid-June have eclipsed the country’s total platinum imports for 2023, as bullion dealers have been exploiting a loophole to register alloys containing around 90% gold as platinum in order to avoid higher import duties. In this time frame, dealers cleared 13 metric tons of these metal consignments valued at around […]