Metal

ArcelorMittal’s India joint venture, ArcelorMittal Nippon Steel India (AM/NS India), has privately warned Indian trade officials that a plan to curb imports of a key raw material for steelmaking, low ash metallurgical coke (met coke), overlooks the implications of the ongoing crisis in the Red Sea. India’s proposed plan would cap met coke imports at […]

Dutch mining company AMG has acquired a 15.77% stake in London-based Savannah Resources, becoming the largest shareholder in the company that is developing a lithium project in northern Portugal. The 16-million-pound ($20 million) investment by AMG represents a “huge de-risking step” for the project, according to Savannah CEO Emanuel Proenca, who described AMG as the […]

The Australian government has announced that it will provide A$2 million ($1.33 million) to Papua New Guinea (PNG) to restore road access to the Porgera gold mine, one of the world’s largest, following a deadly landslide in Enga province in May. The announcement comes as a delegation of seven Australian ministers and the country’s police […]

Activist shareholders are cautioning that Nippon Steel’s proposed $15 billion acquisition of U.S. Steel could escalate the Japanese steel giant’s costs for decarbonization efforts. Nippon Steel, the world’s fourth-largest steelmaker, announced the takeover of U.S. Steel last year, but the deal has faced resistance from a powerful labor union and the White House. According to […]

China’s fuel oil imports experienced a significant decline in May, retreating from the multi-year highs reached in the previous month, according to data from the General Administration of Customs. In May, China’s fuel oil imports totaled 2.15 million metric tons (approximately 441,180 barrels per day), marking a 27% decrease from April’s figure and a 19% […]

Copper prices on the London Metal Exchange (LME) bounced back on Wednesday, rising 1.2% to $9,786 per metric ton, despite concerns about weakening demand prospects in top consumer China. The price rebound was driven by a focus on the potential for supply shortages and fund buying, which helped offset the market’s concerns. Anglo American’s announcement […]

In an effort to transform, upgrade, and promote high-quality development in the lithium-ion battery industry, China’s Ministry of Industry and Information Technology has issued new guidelines to regulate the sector’s rapid expansion. The guidelines, following a proposal in May, aim to address the challenges posed by the industry’s surging growth, including a plunge in product […]

The Chinese mining services and contracting firm JCHX is close to finalizing a deal to acquire an 80% stake in Zambia’s Lubambe Copper Mine, further solidifying China’s dominance in the African copper mining industry. According to sources familiar with the matter, JCHX’s plan to purchase the Lubambe mine from the Australian firm EMR Capital was […]

The spike in global copper prices this year has led to a startling rise in the number of trucks carrying copper from illegal mines in Peru, clogging the country’s key “mining corridor” highway and creating hazardous conditions. According to industry sources, trucks linked to artisanal and illegal mining operations have been crowding the essential 482-kilometer […]

Trafigura Trading LLC, a unit of global commodities trader Trafigura, has agreed to pay a $55 million civil fine to settle U.S. Commodity Futures Trading Commission (CFTC) charges.The CFTC alleged that Trafigura violated U.S. laws and regulations by trading gasoline with material nonpublic information, manipulating an oil pricing benchmark, and requiring employees to sign agreements […]