Mining

    Bank of America sees value in gold miners even after cutting 2026 gold price forecast teaser image

    Bank of America sees value in gold miners even after cutting 2026 gold price forecast

    (Kitco News) - While gold prices could continue to struggle through the second half of the year as markets expect the Federal Reserve to raise interest rates, one bank still sees plenty of opportunity in precious metals, with particularly attractive value in the mining sector.

    Kitco Mining Channel

    Indonesia’s Alamtri starts aluminium exports, ships metal to the US

    A smelter owned by mining and energy group PT Alamtri Resources Indonesia made its first aluminium exports in June, shipping to the U.S. and South Korea, according to Export Genius, a trade data platform.PT Kalimantan Aluminium Industry, which is located on the island of Borneo and began commissioning its first phase at the end of last year, shipped 31,494 metric tons of primary aluminium to the U.S. last month as well as 3,569 tons to South Korea, Export Genius data showed.

    Burkina Faso grants permit to state-owned gold miner for Bouboulou project

    Burkina Faso has awarded an industrial mining permit to state-owned miner SOPAMIB for the Bouboulou gold project, according to a statement, advancing the military-led government’s push for greater state control of the mining sector.Military-led governments across the Sahel and in neighbouring Guinea have increasingly favoured state-owned mining companies as they seek larger returns from their mineral wealth.SOPAMIB, Burkina Faso’s state miner, lay dormant after its 2014 creation until 2024 reforms revived it for direct mine development.

    EGA to ramp up Al Taweelah alumina refinery to 50% of capacity within days

    Emirates Global Aluminium said on Friday its Al Taweelah alumina refinery in Abu Dhabi restarted production of the feedstock for aluminum smelting and would ramp up to 50% of capacity within days.The restart raised expectations for a faster-than-expected recovery of aluminum production in the Gulf region, following disruptions caused by the Iran war, and added pressure to benchmark aluminum prices on the London Metal Exchange. The contract was last down 1.5% at $3,152 a metric ton.
    Chile’s May copper output falls sharply across top miners teaser image

    Chile’s May copper output falls sharply across top miners

    Chile’s copper output from major producers fell sharply in May, according to data published by state copper commission Cochilco on Friday, with Codelco’s production down 18.3% year-on-year to 106,300 metric tons.Output at BHP-controlled (ASX: BHP) Escondida fell 17.6% to 108,800 tons, while production at the Collahuasi mine dropped 19.3% to 31,000 tons.(Reporting by Fabian Cambero, Editing by Daina Beth Solomon)
    Fortuna expects Senegal gold project permit within weeks teaser image

    Fortuna expects Senegal gold project permit within weeks

    Fortuna Mining expects to receive the final permit for its Diamba Sud gold project in Senegal within weeks, its chief executive told Reuters, adding that with government support the country could become a major regional mining hub.
    Fire hits acid plant at S. Korean zinc smelter, report says teaser image

    Fire hits acid plant at S. Korean zinc smelter, report says

    A fire broke out in a sulphuric acid production unit at a South Korean zinc smelter on Thursday, the Maeil Business newspaper reported.The blaze at Young Poong’s Seokpo smelter in North Gyeongsang province was extinguished around an hour after it started at 12:36 local time (03:36 GMT), the report said, adding that there had been no casualties or toxic gas leaks.The Seokpo smelter has capacity to produce 400,000 metric tons per year of zinc ingots, according to its website, although its recent production status is unclear.
    Oil tanker traffic through Hormuz at near standstill on fresh attacks teaser image

    Oil tanker traffic through Hormuz at near standstill on fresh attacks

    Oil tanker traffic through the Strait of Hormuz was at a near standstill on Thursday, according to data and sources, as shipping risks escalated after the U.S. renewed airstrikes on Iran, triggering retaliation by Tehran in the Gulf.Just two tankers had so far sailed through the strait in the early hours of Thursday. They included the crude supertanker Berg 1, which had loaded at Iran’s Kharg Island and is subject to U.S. sanctions, according to analysis from Kpler.
    Gold's selloff is just a pause in a secular bull market, miners now undervalued - Ninepoint's Wachowiak teaser image

    Gold's selloff is just a pause in a secular bull market, miners now undervalued - Ninepoint's Wachowiak

    (Kitco News) - Gold investors shouldn't mistake the precious metal's sharp correction for the start of a new bear market, according to one portfolio manager, who argues that the long-term fundamentals remain intact and the recent weakness has created an attractive buying opportunity across both bullion and mining equities.
    Ivanhoe sees Congo copper output rising in second half 2026 teaser image

    Ivanhoe sees Congo copper output rising in second half 2026

    Ivanhoe Mines said on Wednesday copper production at its flagship Kamoa-Kakula complex in Democratic Republic of Congo is set to rise in the second half of 2026 as mining rates increase and inventories are drawn down, offering a boost to supply from one of the world’s largest copper operations.Vancouver-based Ivanhoe’s Congo unit is one of the mining industry’s key sources of copper supply growth, as analysts forecast a tighter global market in 2026.The company in April cut its 2026 and 2027 copper output forecasts following seismic disruptions at the Kakula mine.
    India silver import curbs create shortages, push premiums to six-month high teaser image

    India silver import curbs create shortages, push premiums to six-month high

    India’s restrictions on silver imports have created shortages in the world’s biggest market for the precious metal, pushing premiums to their highest levels in six months despite weaker-than-usual demand.Lower imports by India, which meets more than 80% of its silver demand through overseas purchases, could weigh on global prices, while helping narrow the country’s trade deficit and ease pressure on its rupee currency.
    BHP awards over $138M contract to Chinese firm for South Australian expansion project teaser image

    BHP awards over $138M contract to Chinese firm for South Australian expansion project

    BHP on Wednesday awarded a contract worth more than A$200 million ($138.80 million) to China Nerin Engineering to design and supply key processing facilities in South Australia.The contract is a part of BHP’s proposed smelter and refinery expansion project in South Australia, the company said.China Nerin Engineering, a metallurgical engineering design firm, will execute the contract in stages as BHP advances studies on the project ahead of a potential final investment decision (FID) in 2027.