Tianqi Lithium to sell stake to raise cash
Tianqi Lithium, China’s top producer of the battery metal, says its controlling investor has put a sixth of its holding up for sale. The move, the Shenzhen-listed lithium miner said…
Asia
Turquoise Hill says Oyu Tolgoi blowout could top US$1.8B
Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ) announced that an ongoing expansion of the giant Oyu Tolgoi copper-gold-silver mine in Mongolia is expected to cost an additional US$1.8 billion. The…
Shandong Gold to buy TMAC Resources for US$149M
In the latest Chinese acquisition of a Canadian gold miner, Shandong Gold is buying TMAC Resources (TSX: TMAC) and its Hope Bay gold project in Nunavut for US$149 million. The…
Barrick reports strong Q1; withdraws guidance for Porgera
Barrick Gold (TSX: ABX; NYSE: GOLD) has withdrawn its 2020 guidance for its 47.5%-owned Porgera mine after placing it in temporary care and maintenance on April 27. Work was halted…
Top investors face-off over Rio Tinto’s emissions cuts
Rio Tinto’s (NYSE: RIO; LSE: RIO) top investors are set to face off at the company’s upcoming annual meeting, with only some of them in favour of pushing the miner…
Commentary: Gold hits turbulence amid coronavirus disruptions
A key result of the grip of the coronavirus is the severe disruption to the commodity markets on both sides of the supply chain. A major issue that has affected…
COVID-19 disrupts US$6.9B of global mining output, S&P Global says
COVID-19 has impacted the mining industry across the globe as governments enforce lockdowns and quarantines and companies halt operations because workers and contractors can’t get on-site due to restrictions. S&P…
Rio Tinto lowers copper target; flags issues at Oyu Tolgoi
Rio Tinto (NYSE: RIO; LSE: RIO) signalled on Friday a recovery in China’s economy, as it reported improved shipments of iron ore to the country, but the company cut its…
What the Nevsun human rights case means for Canadian miners
A recent Supreme Court decision pertaining to Nevsun Resources could have big implications for other Canadian mining companies with foreign operations, opening them up to human rights claims stemming from…
S&P Global lowers GDP, metals price forecasts
S&P Global Ratings has cut its global GDP growth forecast for 2020 to 0.4%. Earlier this month, it lowered its GDP growth forecast for China to 2.9% from its previous…
BofA forecasts 4.7M tonne aluminium surplus
Bank of America Securities estimates global demand for aluminium will fall by 7.2% year-on-year in 2020 while supply will likely increase by 2%. Prices for the metal already have plunged…
Editorial: Sinking in a sea of red
The economic fallout from COVID-19 is mounting sharply. Last week, unemployment claims in the United States hit a record 6.6 million, up from 3.3 million the previous week, and the…