Mining

Australian gold production totals 300 tonnes, $32.8 billion in FY 2025 - Surbiton Associates

(Kitco News) - Elevated gold prices were the driving force behind robust annual production in Australia, according to Melbourne-based gold consultants Surbiton Associates.

Sep 03, 2025 - 1:01 PM

Christopher Ecclestone: “Most of the Trump tariff measures are inflationary.”

3 hours ago

An insider is warning that a silver price shock is incoming as 'insatiable' physical demand continues to drain global supply

Sep 04, 2025 - 2:59 PM

Iron ore price extends gain as Goldman Sachs lifts fourth-quarter price forecast

Prices of iron ore futures climbed for a second straight session on Wednesday, as Goldman Sachs raised its average price forecast for the fourth quarter of this year to $95 a metric ton from $90 a ton previously.The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) closed daytime trade 0.71% higher at 777 yuan ($108.63) a ton.The benchmark October iron ore on the Singapore Exchange was up 0.39% at $102.85 a ton, as of 0721 GMT.Goldman Sachs maintained its 2026-end price forecast of $80 a ton.

Sep 03, 2025 - 1:59 PM

Russia’s August mineral extraction tax proceeds set to rise 3.5%

Russia’s total mineral extraction tax proceeds on crude oil for August production are set to rise by around 3.5% to 600 billion roubles ($7.42 billion), compared with 580 billion roubles in July, Reuters calculations showed.The increase was driven by a $13.8 per metric ton rise in the export duty, according to the MET formula, and a 1.77% weakening of the rouble against the US dollar.Russia’s August MET revenue on oil will fall short of the monthly target set by the government, Reuters calculations showed.

Sep 03, 2025 - 1:58 PM

Hochschild Mining to sell Volcan gold project to Railtown Capital

Britain’s Hochschild Mining said on Wednesday it had signed a letter of intent to sell its Chile-based Volcan gold project operator Tiernan Gold Corp to Canada’s Railtown Capital.Hochschild has been facing hurdles in production in its Mara Rosa mine in Brazil, which has significantly affected its production and led to a slash in its annual production forecast.The deal will be structured as a reverse takeover, with Hochschild set to own about 87% of the combined company, which will be listed on the Toronto Venture Exchange.

Sep 03, 2025 - 1:57 PM

UN committee says Portugal kept information on lithium mine from public scrutiny

Portugal has breached an international treaty by preventing the public from accessing key information about Europe’s largest lithium mining project during its environmental licensing process, a UN committee said on Wednesday.In 2023, Portugal’s environmental agency APA gave its go-ahead, conditional on some remedies, for London-listed Savannah Resources to develop the mine in the northern Barroso region, which has been a World Heritage site for agriculture since 2018.Savannah Resources to restart drilling at Barroso as suspension gets lifted

Sep 03, 2025 - 1:53 PM

Energy exec tasked with speeding up project approvals in Canada

Canada named senior energy industry executive Dawn Farrell on Friday to lead a new office designed to fast-track the review and approval of natural resources projects such as mines and pipelines, a process that can take a decade.Prime Minister Mark Carney announced the major projects office earlier this year, saying streamlining will boost gross domestic product and help offset the damage from US tariffs.

Sep 02, 2025 - 12:46 PM

Iron ore price hits one-week low on narrower steel margins, weak demand

Iron ore futures slipped to their lowest levels in a week on Monday, hurt by shrinking steel margins and expectations of lower steel production ahead of a military parade in China.The most-traded January iron ore contract on China’s Dalian Commodity Exchange ended daytime trade 2.67% lower at 766 yuan ($107.09) a metric ton. It hit its lowest since August 20 at 761 yuan earlier in the session.By 0700 GMT, the benchmark October iron ore on the Singapore Exchange lost 2.05% to $101.35 a ton, the weakest since August 25.

Sep 02, 2025 - 12:41 PM

ArcelorMittal South Africa job cuts could rise above 4,000, union says

ArcelorMittal South Africa (AMSA) is planning to lay off 4,000 workers, nearly half its workforce and more than initially expected, with cuts now set to extend to its main Vanderbijlpark plants, a union said on Monday.The steelmaker previously announced plans to shut its long steel plants at Newcastle and Vereeniging this month, cutting 3,500 jobs, as talks with the government have failed to provide an alternative solution.

Sep 02, 2025 - 12:37 PM

Baosteel expects China’s steel exports to stay above 100Mt in 2025

China’s biggest listed steelmaker Baoshan Iron & Steel Co expects the country’s total steel exports to stay above 100 million metric tons in 2025, it said on Friday, while monitoring potential curbs on national steel output.The company, known as Baosteel, is a subsidiary of the state-owned China Baowu Steel Group, the world’s largest steelmaker by output.

Aug 29, 2025 - 11:53 AM

Northam CEO says platinum miners not out of the woods despite price rally

The recent platinum price rally has brought relief to South African miners, but is still below levels needed to support new production, Northam Platinum CEO Paul Dunne said on Friday.Northam reported a 14.4% drop in annual profit on Friday, as mining costs surged, despite record sales volumes. It made headline earnings per share of 3.81 rand ($0.2169) in the year ended June 30, compared with 4.45 rand a year earlier.

Aug 29, 2025 - 11:50 AM

Cameco flags 2025 production hit amid McArthur River mine transition delays

Canadian uranium supplier Cameco Corp said on Thursday the development delays in transitioning the McArthur River mine in Saskatchewan to new mining areas are expected to impact its 2025 production forecast.The company cited risks including development delays and the expected timing of ground freezing as the mine transitions into two new mining areas.Additionally, challenges related to access to skilled labor and the timing of commissioning new customized equipment are also potential risks.

Aug 29, 2025 - 11:49 AM

Valterra Platinum plans to start underground trial mining in late 2026

Valterra Platinum will start trial mining at an underground pit at its Mogalakwena open-pit mine in South Africa late next year, the general manager for the project said on Wednesday.Mogalakwena in Limpopo province, north of Johannesburg, is the world’s largest open-pit platinum group metals (PGM) mine, comprising five open pits. The ore body of its Sandsloot pit, where the underground mine is being developed, has higher grades of ore.

Aug 29, 2025 - 9:07 AM

Nippon Steel bets on $11B investment, tech transfer to lift US Steel profit

Japan’s Nippon Steel plans to increase profit at US Steel through an $11 billion investment and the transfer of its operational techniques and advanced technologies to expand capacity and add more high-grade products, a senior executive said.Nippon Steel’s $14.9 billion acquisition of US Steel closed in June, ending an 18-month process that had been caught up in the shifting political landscape during the transition between the Biden and Trump administrations.

Aug 29, 2025 - 9:02 AM

Mining

Australian gold production totals 300 tonnes, $32.8 billion in FY 2025 - Surbiton Associates

Christopher Ecclestone: “Most of the Trump tariff measures are inflationary.”

An insider is warning that a silver price shock is incoming as 'insatiable' physical demand continues to drain global supply

Anglo American to sell remaining stake in Valterra

Perth Mint’s August gold sales rise 38%, silver hits eight-month low

Australian PM Albanese spoke to Trump about critical minerals and security

China copper output set for rare September fall as tax change hits scrap supply

Iron ore price extends gain as Goldman Sachs lifts fourth-quarter price forecast

Russia’s August mineral extraction tax proceeds set to rise 3.5%

Hochschild Mining to sell Volcan gold project to Railtown Capital

UN committee says Portugal kept information on lithium mine from public scrutiny

Energy exec tasked with speeding up project approvals in Canada

Iron ore price hits one-week low on narrower steel margins, weak demand

ArcelorMittal South Africa job cuts could rise above 4,000, union says

Baosteel expects China’s steel exports to stay above 100Mt in 2025

Northam CEO says platinum miners not out of the woods despite price rally

Cameco flags 2025 production hit amid McArthur River mine transition delays

Valterra Platinum plans to start underground trial mining in late 2026

Nippon Steel bets on $11B investment, tech transfer to lift US Steel profit