Mining

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

(Kitco News) – More than 85 governments from key mineral-producing and consumer nations are gathering in Riyadh, Saudi Arabia, for the fourth annual Future Minerals Forum (FMF) beginning Tuesday, Jan. 14, and Kitco News will be on site to conduct exclusive interviews with high-level participants.

Jan 13, 2025 - 4:05 PM

Barrick urges shareholders to reject undervalued mini-tender offer teaser image

Barrick urges shareholders to reject undervalued mini-tender offer

Jan 13, 2025 - 10:51 AM

UK to sign critical minerals partnership with Saudi Arabia teaser image

UK to sign critical minerals partnership with Saudi Arabia

Search underway in Peru for trapped workers at small gold mine teaser image

Search underway in Peru for trapped workers at small gold mine

Manara may invest in Pakistan’s Reko Diq mine, minister says teaser image

Manara may invest in Pakistan’s Reko Diq mine, minister says

Congo courts Saudi mining investors to help curb China dominance teaser image

Congo courts Saudi mining investors to help curb China dominance

LME on last lap to approve Hong Kong as location for metal storage

The London Metal Exchange (LME) is concluding its process for approving Hong Kong as a location for its global metals warehousing network, which the exchange considers to be a gateway to mainland China.Approving warehouses in China, the world’s largest consumer of industrial metals, to store metal traded on the LME has been a strategic goal since Hong Kong Exchanges and Clearing bought the LME in 2012 for $2.2 billion. But the LME has failed to get regulatory permission.

China’s December copper imports hit 13-month high

China’s imports of unwrought copper and copper products reached a 13-month high in December, rising 17.8% year-on-year to 559,000 metric tons, according to customs data released on Monday.Imports increased 5.87% from November, partly due to sellers fulfilling remaining volume obligations of annual contracts.For the whole of 2024, unwrought copper imports totalled 5.68 million tons, a year-on-year increase of 3.27%, the data showed.The data includes anode, refined, alloy and semi-finished copper products.

Jan 13, 2025 - 1:30 PM

Malaysia clamps anti-dumping duties on iron, steel from four nations

Malaysia has imposed provisional anti-dumping duties on some exports of flat-rolled iron products or non-alloy steel from China, India, Japan and South Korea, the trade ministry said.The duties, which take effect from Jan. 11 and initially run for up to 120 days on products with a width of more than 600 mm (24 inches), range from 2.52% to 36.80%, the ministry said on Monday.

Jan 13, 2025 - 1:28 PM

Saudi Arabia plans to enrich and sell uranium, energy minister says teaser image

Saudi Arabia plans to enrich and sell uranium, energy minister says

Saudi Arabia plans to monetize all minerals, including by selling uranium, Saudi energy minister Prince Abdulaziz bin Salman said on Monday.“We will enrich it and we will sell it and we will do a ‘yellowcake,'” Prince Abdulaziz told a conference in Dhahran, referring to a powdered concentrate of the mineral used to prepare uranium fuel for nuclear reactors. It requires safe handling although it poses few radiation risks.

Jan 13, 2025 - 1:25 PM

Abaxx plans lithium carbonate contract within weeks after nickel launch teaser image

Abaxx plans lithium carbonate contract within weeks after nickel launch

The Singapore-based Abaxx commodities exchange plans to launch a physically deliverable lithium carbonate contract within weeks after the recent start of its nickel futures, company executives said.The exchange, owned by Canada-listed Abaxx Technologies Inc, kicked off trading of its nickel sulphate contract on Friday, the first for its battery products.

Jan 13, 2025 - 1:22 PM

CME copper hits two-month highs, focus on US import tariffs teaser image

CME copper hits two-month highs, focus on US import tariffs

Copper prices on COMEX soared to two-month highs on Thursday as the market attempted to discount the potential for hefty tariffs on US imports after US President-elect Donald Trump takes office later this month.Prices of the industrial metal on COMEX, part of the CME Group, hit $4.285 a lb or $9,446.82 a metric ton, the highest since November 11, after Trump won the US election and floated the idea of import levies. The contract was last up 1.0% at $4.2795.

Jan 10, 2025 - 12:29 PM

Wheaton Precious CFO Gary Brown to step down teaser image

Wheaton Precious CFO Gary Brown to step down

Canadian miner Wheaton Precious Metals said on Thursday Gary Brown will step down as the chief financial officer, effective March 31.Vincent Lau will succeed Brown as the finance boss after serving as Wheaton’s vice president of finance for more than a decade.(By Vallari Srivastava; Editing by Chris Reese)

Jan 10, 2025 - 12:28 PM

Indonesia sets 2025 nickel ore mining quota at around 200 million tonnes teaser image

Indonesia sets 2025 nickel ore mining quota at around 200 million tonnes

Indonesia has set a quota of around 200 million tonnes for nickel ore mining this year, a senior mining ministry official said on Friday, adding this could be cut if miners failed to comply with environmental and other rules.“We have issued around 200 million tonnes. But if based on their performance evaluation, especially post-mining reclamation and environmental management (not meeting government requirements), we will cut,” said Tri Winarno, director general of mineral and coal at the ministry.

Jan 10, 2025 - 12:26 PM

Iron ore price logs weekly loss on soft demand but China stimulus limits fall teaser image

Iron ore price logs weekly loss on soft demand but China stimulus limits fall

Iron ore futures edged up on Friday, aided by stimulus expansion from top consumer China, but ended the week lower on seasonally softening demand for the key steelmaking ingredient.The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.4% higher at 753.5 yuan ($102.76) a metric ton but logged 1.95% decline for the week.The benchmark February iron ore on the Singapore Exchange traded steady, ticking down 0.01% at $97.05 a ton at 0751 GMT, falling 1.17% so far this week.

Jan 10, 2025 - 12:24 PM

US lobbied Greenland rare earths developer Tanbreez not to sell to China teaser image

US lobbied Greenland rare earths developer Tanbreez not to sell to China

US and Danish officials lobbied the developer of Greenland’s largest rare earths deposit last year not to sell its project to Chinese-linked firms, its CEO told Reuters, adding it has been in regular talks with Washington as it reviews funding options to develop the island’s critical minerals.The move underscores the long-running economic interest US officials have had in the Danish territory, well before US President-elect Donald Trump began musing in recent weeks about acquiring it.

Jan 10, 2025 - 12:21 PM

Texas tops US states for renewable energy and battery capacity teaser image

Texas tops US states for renewable energy and battery capacity

LITTLETON, Colorado, Jan 9 (Reuters) - Texas is dominating the development of renewable energy generation and battery capacity within the United States, and is estimated to have installed nearly 80% more combined solar, wind and battery capacity than the next largest state.

Jan 09, 2025 - 12:03 PM

India to sign mining pact with Mongolia soon, govt source says teaser image

India to sign mining pact with Mongolia soon, govt source says

India is expected to sign a preliminary agreement with Mongolia soon in the area of geology and exploration, a senior Indian government official with direct knowledge of the matter said.Landlocked Mongolia is rich in deposits of copper and coking coal, and India is mostly dependent on imports to meet rising demand for the red metal used in power, construction and electrical vehicles as well as coking coal for steelmaking.

Jan 09, 2025 - 10:06 AM

Osisko Gold Royalties sees record cash flow in 2024 teaser image

Osisko Gold Royalties sees record cash flow in 2024

(Kitco News) - Mining equity analysts have been waving the flag trying to draw attention to the cash flow being generated in the sector and one royalty company is not disappointing.

Jan 08, 2025 - 3:04 PM

First Majestic reports a 4% increase in fourth-quarter production teaser image

First Majestic reports a 4% increase in fourth-quarter production

(Kitco News) - One of the world’s top silver producers ended the year on a high note, with First Majestic Silver Corp reporting a 4% increase in fourth-quarter production.

Jan 08, 2025 - 2:46 PM