Metal

According to a Macquarie analyst, global nickel prices may have hit a floor and could be poised for a recovery. Jim Lennon, the Macquarie analyst, cited several factors that are expected to drive this potential market rebound. Firstly, Lennon noted that the supply adjustments, particularly in Indonesia, the top nickel producer, have helped address the […]

The government of Zambia, Africa’s second-largest copper producer, has approved the establishment of a new entity for investment and trading in minerals. The aim is for Zambia to earn more from its natural resources and move away from the traditional dividend payment model. The Cabinet said the new Special Purpose Vehicle (SPV) will allow the […]

Anglo-Australian miner Rio Tinto has announced that newly published environmental studies show its Serbia lithium project, the $2.4 billion Jadar project, would be safe for the environment. The project was stopped in 2022 after massive protests from environmental groups and local communities. In a statement, Rio’s Serbian unit said the “results of scientific research show […]

According to a Macquarie analyst, global nickel prices may have hit a floor and are poised for a market recovery driven by strong demand from the steel sector and a shrinking surplus of ore supplies. Macquarie analyst Jim Lennon told a conference organized by Shanghai Metals Market in Jakarta that the belief is “we’ve seen […]

The Brazilian government is set to sign a potential agreement with mining company Vale VALE3.SA related to railway concessions, which could be signed as early as this month and reach around 20 billion reais ($3.70 billion), according to the country’s transport minister, Renan Filho. The Brazilian government has been aiming to remove discounts given to […]

Mining giant BHP and the union representing workers at its Spence copper mine in Chile have agreed to extend contract negotiations, putting off the risk of a strike for now. The union, which represents more than 1,100 workers at the Spence mine located in northern Chile, had their previous collective agreement expire on May 31. […]

China’s Tsingshan, the world’s largest nickel producer, is planning to register an additional 50,000 metric tons of nickel cathode capacity on the London Metal Exchange (LME) in the second half of 2024, a company official announced. This follows Tsingshan’s earlier listing of nickel cathode from its Dingxing plant on the LME in the second quarter […]

According to data from satellite surveillance of metal processing plants, around a fifth of global copper smelting capacity was suspended in May, mostly for maintenance reasons. Earth-i, a company that specializes in observational data and tracks smelters representing up to 90% of global copper production, reported that an average of 20.8% of global copper smelter […]

The gold market is set to continue its impressive rally through the remainder of 2024, with traders and industry experts predicting the precious metal will maintain its upward momentum. However, the $3,000 per ounce mark may prove just out of reach for the time being. Spot gold is currently trading around $2,300 per ounce, having […]

Iron ore futures have tumbled to a two-month low, weighed down by lingering weak fundamentals and concerns over demand prospects in top consumer China. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) closed the daytime trade 4.16% lower at 806 yuan ($111.12) per metric ton, the lowest level since April 10. […]