Mining

Massive mining sector shakeup: Bloomberg reports Rio Tinto and Glencore in preliminary deal talks teaser image

Massive mining sector shakeup: Bloomberg reports Rio Tinto and Glencore in preliminary deal talks

(Kitco News) - The mining sector could be in for a massive shakeup this year as Rio Tinto Group and Glencore Plc have reportedly discussed a potential merger.

Jan 16, 2025 - 3:15 PM

Over 85 nations participate in Future Minerals Forum to lead global action on mineral development teaser image

Over 85 nations participate in Future Minerals Forum to lead global action on mineral development

Jan 13, 2025 - 4:05 PM

LME approves warehousing in Hong Kong, a gateway for metals to China teaser image

LME approves warehousing in Hong Kong, a gateway for metals to China

Jan 20, 2025 - 1:10 PM

Hearing on Nippon Steel’s lawsuit over US Steel bid set for Feb-March, Kyodo says teaser image

Hearing on Nippon Steel’s lawsuit over US Steel bid set for Feb-March, Kyodo says

Jan 20, 2025 - 12:47 PM

China buys less Russian coal in 2024 despite record imports teaser image

China buys less Russian coal in 2024 despite record imports

Jan 20, 2025 - 12:39 PM

Glencore open to deals as investors brace for more mining M&A teaser image

Glencore open to deals as investors brace for more mining M&A

Jan 20, 2025 - 11:22 AM

Copper market sees half chance of 10% US tariff by first quarter-end, Goldman says

Jan 20 (Reuters) - Goldman Sachs on Monday said the copper market is pricing in odds of about 50% that there will be a 10% U.S. tariff on the metal by the end of the first quarter of this year.Analysts at the U.S. investment bank said in a client note that the estimate is similar to their own 50% subjective probability of a 10% effective tariff on copper by year-end.Three-month copper on the London Metal Exchange eased 0.3% to $9,167 a metric ton as at 0706 GMT after reaching a one-month peak last week.

Jan 20, 2025 - 9:30 AM

Rio Tinto to form new lithium unit after Arcadium buy

The world’s second largest miner Rio Tinto (ASX, LON: RIO) plans to create a standalone lithium division after it closes its $6.7 billion acquisition of Arcadium Lithium (ASX: LTM)(NYSE: ALTM), according to an internal memo seen by Reuters.The plan reflects how closely tied Rio CEO Jakob Stausholm and his leadership team believe lithium is to the company’s future and the high value they place on Arcadium’s engineers as part of the deal.Arcadium’s shareholders approved the sale last month and closing is expected by July.

Jan 17, 2025 - 2:57 PM

Lynas Rare Earths’ second-quarter revenue rises nearly 4%

Australia’s Lynas Rare Earths reported a nearly 4% rise in its second-quarter sales revenue on Friday, benefitting from higher quality product and favourable foreign exchange rates.Its total rare earth oxide for the second quarter was 2,617 metric tons, compared to 2,722 tons reported last quarter. The output of neodymium and praseodymium, elements used to make permanent magnets, fell nearly 30% to 1,292 tons from the previous quarter.

Jan 17, 2025 - 2:51 PM

Botswana expects 2025 economic growth rebound on better diamond market teaser image

Botswana expects 2025 economic growth rebound on better diamond market

Botswana’s economy is expected to grow 3% to 4% in 2025 after a contraction last year, a senior government official said at a budget workshop on Friday, as the global diamond market is anticipated to recover.The Southern African country’s economy shrunk 3.3% in the first three quarters of 2024, raising government expectation of a bigger contraction than the 1.7% forecast in December. An updated contraction estimate was not given.

Jan 17, 2025 - 2:45 PM

CME precious metals stocks soar on Trump tariff threat teaser image

CME precious metals stocks soar on Trump tariff threat

Gold stocks in COMEX-approved warehouses have jumped by one-third in the past six weeks as market players sought deliveries to hedge against the possibility of import tariffs from incoming US president Donald Trump.With Trump’s inauguration due on Monday, COMEX activity widened the spread between New York and London gold prices and caused sharp volatility in the part of the market known as the exchange of futures for physical (EFP), used as a hedge to general precious business activity.

Jan 17, 2025 - 2:42 PM

Biden boosts loan for ioneer’s Nevada lithium mine to nearly $1 billion teaser image

Biden boosts loan for ioneer’s Nevada lithium mine to nearly $1 billion

The US Department of Energy has finalized a $996 million loan for ioneer’s Rhyolite Ridge lithium project, according to documents reviewed by Reuters, an increase of $296 million from a preliminary funding offer and a move aimed at boosting President Joe Biden’s green energy legacy.Scant US production of lithium, an ultralight metal used to make batteries for electric vehicles and many consumer electronics, has left the country reliant on supplies from market leader China, an imbalance that the outgoing Biden has tried the past four years to offset.

Jan 17, 2025 - 2:41 PM

Zambia says Saudi’s Manara interested in its copper assets teaser image

Zambia says Saudi’s Manara interested in its copper assets

Saudi Arabia’s Manara Minerals is looking for critical minerals projects in Zambia to invest in, the southern African country’s mines minister Paul Kabuswe told Reuters on Thursday.Manara and Africa’s second-largest copper producer held talks on Wednesday after the signing the previous day of a memorandum of understanding (MOU) with Saudi Arabia to cooperate on exploration for new minerals.

Jan 16, 2025 - 2:52 PM

Greek Metlen expands alumina output to extract critical mineral gallium teaser image

Greek Metlen expands alumina output to extract critical mineral gallium

Greek-based energy and metals group Metlen plans to start extracting critical mineral gallium from the raw materials to make aluminum in a new expansion program, it said on Thursday.China has imposed restrictions on the exports of gallium, which is used in high-quality semiconductors and smartphones.The company already processes bauxite from its own mines in Greece into alumina, which is further refined into aluminum.

Jan 16, 2025 - 2:51 PM

China extends coal imports lead over India to widest in more than a decade teaser image

China extends coal imports lead over India to widest in more than a decade

China, the world’s biggest coal consumer, extended its lead in imports over No. 2 buyer India last year to the widest since at least 2013, customs data shows, cementing its hold on global coal markets and helping to curb a slide in prices.Global thermal coal prices have retreated from record highs hit after Russia’s 2022 invasion of Ukraine, but are 50% higher than the average during the 2017-19 period, according to the International Energy Agency (IEA).

Jan 16, 2025 - 2:49 PM

Societe Generale plans partial return to gold trading teaser image

Societe Generale plans partial return to gold trading

Societe Generale, France’s third-biggest listed bank, is planning a partial comeback to gold trading after quitting the bullion market in 2019, two sources with knowledge of the matter told Reuters.Societe Generale resigned as a market maker for gold at the London Bullion Market Association (LBMA) in 2019 as it downsized over-the-counter (OTC) commodities trading, where deals are done bilaterally between banks and brokers.

Jan 16, 2025 - 2:48 PM

MMG to resume work at Queensland mine with fire threat contained teaser image

MMG to resume work at Queensland mine with fire threat contained

Mining firm MMG Ltd said on Tuesday it expects to resume operations at its Dugald River zinc mine in Queensland later in the day after an approaching grassfire near its perimeter was contained.MMG, backed by state-owned China Minmetals Corporation, said it does not expect any material impact on its full-year production outlook for Dugald River, which produced more than 150,000 metric tons of zinc in fiscal 2023.“With the grassfire that was burning on the perimeter of the site now contained, we expect to resume operations at Dugald River today,” the miner said.

Jan 15, 2025 - 11:38 AM

Canada approves $34 billion Bunge-Viterra merger with conditions teaser image

Canada approves $34 billion Bunge-Viterra merger with conditions

The Canadian government said on Tuesday it approved with conditions the $34 billion merger deal between Bunge and the Glencore-backed company Viterra.The conditions for the deal approval include Bunge’s divestiture of six grain elevators in Western Canada and a binding commitment from Bunge to invest at least C$520 million in Canada within the next five years, according to a statement from the transport ministry.

Jan 15, 2025 - 11:36 AM

Sprott Asset Management launches silver miners and physical silver ETF teaser image

Sprott Asset Management launches silver miners and physical silver ETF

Sprott Asset Management LP on Wednesday launched its silver miners and physical silver exchange-traded fund, the latest addition to its critical materials ETFs.The Sprott Silver Miners & Physical Silver ETF aims to track the performance of the Nasdaq Sprott Silver Miners Index by investing at least 80% of its total assets in the index’s securities, the company said.The index includes securities of silver producers, developers and explorers, as well as physical silver.

Jan 15, 2025 - 11:33 AM

Seized Barrick gold now held at state-owned Malian bank BMS, sources say teaser image

Seized Barrick gold now held at state-owned Malian bank BMS, sources say

About 3 metric tons of gold seized by authorities in Mali from Canadian miner Barrick Gold’s Loulo-Gounkoto mining complex is now being held at Malian state-owned Banque Malienne de Solidarite (BMS), two sources told Reuters.Reuters reported on Monday that, in an escalation of their long-running dispute with the company, Malian officials had seized gold worth $245 million to be transported to BMS in the capital Bamako.

Jan 15, 2025 - 11:25 AM