Metal

The board of Russian metals and mining giant Nornickel has recommended no dividend on its 2023 financial results, citing significant pressure from sanctions restrictions and geopolitical challenges faced by the company during the year. This decision is likely to reignite the long-standing disagreements on dividends between Nornickel’s main owners – CEO and largest shareholder Vladimir […]

According to a report in the Financial Times, a UK-based activist investor has called for mining giant Rio Tinto to abandon its London listing and unify its corporate structure in Australia instead. The activist investor, Palliser Capital, has taken up a stake in Rio Tinto and argued that the company’s dual corporate structure is a […]

BHP, the world’s biggest listed mining group, is determined to stand firm on the structure and value of its latest takeover proposal for Anglo American, according to sources familiar with the matter. BHP has been granted a one-week extension, until May 29, to make a firm bid for Anglo American or walk away for at […]

According to three sources familiar with the matter, China plans to buy up to 15,000 metric tons of cobalt metal from local Chinese producers over the next few months for its domestic stockpiles. This would be a record amount for a single purchase by China’s National Food and Strategic Reserves Administration. The planned purchase would […]

The United States is on track to establish a domestic rare earths supply chain to meet its defense needs by 2027, according to a senior defense official. Rare earths are a group of metals used in magnets for green energy industries and defense applications, and the U.S. has been working to build out a global […]

The Peruvian government’s 2024 copper production goal of 3 million metric tons is realistic, according to senior industry executives in the country. This comes as Peru seeks to boost mining investments to help lift the economy out of recession. Peru produced 2.76 million tons of copper last year, dropping its rank from first to second […]

BHP’s bid for Anglo American underlines the growing appetite for energy transition metals like copper from miners who must become more aggressive to secure new projects or risk missing out, according to investors and mining CEOs. The proposed acquisition of Anglo by the world’s biggest listed miner, BHP, is expected to fuel more deals in […]

A sizzling rally in global copper prices has dampened physical demand for the metal in top consumer China, with buyers bracing for even higher prices. Copper prices have hit historic highs across global exchanges this month, propelled by a short squeeze and funds betting on a copper shortage amid the global transition to a greener […]

India’s state-owned Bharat Heavy Electricals Ltd (BHEL) reported a 25% fall in fourth-quarter profit to 4.84 billion rupees (about $58 million), as higher expenses outpaced soaring domestic demand for power and industrial products. The company, which makes power and industrial equipment, had reported three straight quarters of losses until the December quarter. Its total expenses […]

Iron ore futures rose on Tuesday, as resilient demand and improved prospects in top consumer China continued to support the market. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.7% higher at 908 yuan ($125.47) per metric ton. The benchmark June iron ore on the Singapore Exchange rose […]