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…
Asia
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…
UPDATE: Rio Tinto goes after Turquoise Hill in US$2.7B bid
Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has offered US$2.7 billion for the 49% of shares it doesn’t already own in Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ) in…
Sanctioned Russian nickel could slow global EV adoption, report
Sanctioning Russian nickel will slow the adoption of electric vehicles (EVs) and hinder the decarbonization of Western economies, according to a new report from GlobalData. The result, such actions will…
In charts: EV metal demand accelerates in the second half of 2021
A 62% jump in passenger electric vehicles (EVs) registrations in the second half of 2021 to 5.84 million units continues to drive an intensifying demand in the battery metals sector,…
Russia-Ukraine tension may give rise to a new commodity world order
The Russian invasion of Ukraine has the potential to establish a new commodity world order that tilts reliable supply toward North America, Bloomberg Intelligence says in a research note. Analyst…
In charts: Copper project pantry bare from 2025
Bank of America (BofA) Global Research analysts expect the copper market to flip back to a deficit from 2025 onwards following the completion of the current wave of project buildouts,…
Understanding China’s Belt and Road Initiative
The Chinese Belt and Road Initiative (BRI) — or the ‘New Silk Road’ as it was branded in 2013 at its official launch in Kazakhstan — involves around 130 countries,…
Lithium: Spot prices soar in lunar new year
Lithium spot prices in Chinese markets showed substantial gains in the first week after the lunar new year holidays in East Asia, mainly driven by sustained supply tightness in spot…
Chaarat Gold’s project in Kyrgyzstan hit by Centerra turmoil
Chaarat Gold (LSE: CGH) announced on Wednesday financing and construction delays at its Tulkubash project in Kyrgyzstan due to increased investor uncertainty in the Central Asian country in the wake…
BHP to cut emissions by 30% with first LNG-powered bulk carrier
BHP (NYSE: BHP; LSE: BHP; ASX: BHP) has taken a key step towards its goal of reaching net-zero by 2050 after receiving the first of five LNG-powered carriers to transport…
In charts: Gold rally defies traditional headwinds
Bank of America expects the gold price rally to persist despite a challenging macro backdrop. Gold continues trading above $1,800 per ounce despite the respective 10-year interest rates and Dollar…