Glencore hails trading unit outlook, cuts copper guidance
Miner and commodities trader Glencore (LSE: GLEN) touted on Thursday prospects for its trading unit, saying it faces another strong year as Russia’s invasion of Ukraine continues to drive up…
Asia
Guinea junta turns up the heat on bauxite miners
The military junta that took control of Guinea in September is heaping pressure on multinational miners to refine raw bauxite, a raw material used to make aluminium, to more advanced…
Barrick aims to start producing at Pakistan’s Reko Diq in 2027
Barrick Gold (TSX: ABX; NYSE: GOLD) aims to start producing copper and gold from its Reko Diq project in Pakistan’s Balochistan province in 2027, the company’s CEO Mark Bristow said…
Analysts adjust higher metal price assumptions on Russia-Ukraine conflict
Several analysts have adjusted higher their metal price assumptions for 2022 as the February Russian invasion of Ukraine drags on, wreaking havoc on global metals and mineral supply chains. Moody’s…
Black Iron won’t publish Shymanivske feasibility until there’s peace in Ukraine
Ukraine-focused iron ore developer Black Iron Inc (TSX: BKI; US-OTC: BKIRF) will not publish the highly anticipated feasibility study for the Shymanivske project until peace has returned to the Dnipropetrovsk region…
Avalon partners with India’s Essar Group to build Ontario lithium refinery
Ontario’s strategic push to establish a fully integrated lithium-ion battery supply chain got a massive boost on Monday after Avalon Advanced Materials (TSX: AVL) reached an agreement with India-based Essar…
Centerra Gold hands Kumtor mine to Kyrgyzstan, ending dispute
Centerra Gold (TSX: CG) and the Kyrgyz Republic have reached an out-of-court settlement in which the Canadian miner agrees to hand control of its expropriated Kumtor operation to the country’s government, ending an almost…
Zinc price to remain high in the near term on Russia-Ukraine conflict – report
Market analyst Fitch Solutions Country Risk & Industry Research has revised its 2022 zinc price forecast higher by more than 20% to US$3,500 per tonne. In a market commentary, Fitch…
RANKED: World’s biggest nickel projects – 2022
Nickel is used mainly in the steelmaking process, but also in production of batteries for electric vehicles, and it is the metal that has grabbed the most headlines so far…
Commodity price spikes could signal lasting market changes – report
Market analyst Wood Mackenzie warns that the ongoing metals and mined commodity price spikes, combined with heightened geopolitical tension, could result in long-lasting market changes. In recent months, factors including…
Copper deficit narrows slightly to 475,000 tonnes in 2021
The global refined copper market showed a 92,000 tonnes deficit in December, compared with a 123,000 tonnes deficit in November, the International Copper Study Group (ICSG) said in a new…
Barrick seals deal with Pakistan to restart Reko Diq project after a decade; Antofagasta exits
Barrick Gold (TSX: ABX; NYSE: Gold) has reached an agreement with the Pakistan government to restart Balochistan’s Reko Diq project, which hosts one of the world’s largest undeveloped open pit…