Mining News, Mining Stocks, Junior Mining | KITCO

Silver miners are up by double digits, and lithium gets a lift from a big financing deal teaser image

Silver miners are up by double digits, and lithium gets a lift from a big financing deal

Kitco News - Financial markets ended the week on strong footing as stocks, gold, and Bitcoin all trended higher, with the S&P besting its previous all-time high by a hair, while gold bulls stampeded their way above $2,700/oz for the first time in history.On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable.

Oct 19, 2024 - 1:03 PM

Alcoa ‘very bullish’ on aluminum for energy transition teaser image

Alcoa ‘very bullish’ on aluminum for energy transition

BHP has moved on from Anglo American, company chairman says teaser image

BHP has moved on from Anglo American, company chairman says

Botswana’s Debswana diamond sales fall over 50% in first nine months of 2024 teaser image

Botswana’s Debswana diamond sales fall over 50% in first nine months of 2024

Simandou to mine first cargo by end 2025 teaser image

Simandou to mine first cargo by end 2025

Glencore posts lower metals output for first nine months, reiterates outlook teaser image

Glencore posts lower metals output for first nine months, reiterates outlook

US energy dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine

The US Department of Energy finalized a $2.26 billion loan for Lithium Americas on Monday to build Nevada’s Thacker Pass lithium mine, one of Washington’s largest mining industry investments and part of a broader push to boost critical minerals production.The loan, provisionally approved in March, is a key part of US President Joe Biden’s efforts to reduce dependence on lithium supplies from China, the world’s largest processor of the electric vehicle battery metal. Biden officials permitted a similar lithium project under development by ioneer last week.

Oct 29, 2024 - 3:10 PM

India’s festive gold buying spree continues, defying record price

Indian buyers of gold brushed off record high prices and made purchases for the Dhanteras and Diwali festivals starting on Tuesday, hoping bullion would continue to rally and deliver promising returns amid a cooling stock market, industry officials told Reuters.Robust demand in the world’s second-biggest gold consumer could further support global prices, which hit record highs last week. Rising demand for imports of gold could also widen India’s trade deficit and put pressure on the rupee.

Oct 29, 2024 - 12:19 PM

Australia risks losing top spot in global steel supply chain, Fortescue says

The US Department of Energy finalized a $2.26 billion loan for Lithium Americas on Monday to build Nevada’s Thacker Pass lithium mine, one of Washington’s largest mining industry investments and part of a broader push to boost critical minerals production.The loan, provisionally approved in March, is a key part of US President Joe Biden’s efforts to reduce dependence on lithium supplies from China, the world’s largest processor of the electric vehicle battery metal. Biden officials permitted a similar lithium project under development by ioneer last week.

Oct 29, 2024 - 10:14 AM

Australian rare earths developer ASM eyes US defence funding teaser image

Australian rare earths developer ASM eyes US defence funding

Sydney – Rare earths developer Australian Strategic Materials (ASM) sees more funds becoming available for rare earths projects from the United States Department of Defence even if there is a change in administration, its CEO said on Tuesday.Rare earths have strong magnetic qualities which make them key to applications from smart phones to laser guided missiles. Australia is classified as a domestic supplier to the United States for defence purposes.

Oct 29, 2024 - 10:11 AM

Galp in no rush to invest in lithium refinery with Northvolt teaser image

Galp in no rush to invest in lithium refinery with Northvolt

Portuguese energy company Galp is in no rush to make a final investment decision (FID) to build a battery-grade lithium refinery in Portugal amid challenging market conditions, CEO Filipe Silva said on Monday.A 50-50 joint venture between Galp – which earlier on Monday reported a 22% decline in third-quarter adjusted core profit – and Swedish battery maker Northvolt, dubbed Aurora and set up in November 2021, was previously expected to announce the FID by the end of 2024.

Oct 28, 2024 - 12:55 PM

Australia’s IGO swings to a loss on lithium downturn teaser image

Australia’s IGO swings to a loss on lithium downturn

Australia’s IGO posted a quarterly loss on Monday, swinging from a profit in the previous quarter as a slowdown in electric vehicle battery demand wiped out profits from its lithium operations.For the period ended Sept. 30, the battery metal producer reported underlying EBITDA loss of A$2.9 million ($1.9 million), compared with a profit of A$76.8 million in the June quarter.

Oct 28, 2024 - 12:29 PM

Korea Zinc attempts to fend off takeover with $1.5 billion share buyback teaser image

Korea Zinc attempts to fend off takeover with $1.5 billion share buyback

Korea Zinc said on Monday it has secured 9.85% of the company’s shares in a $1.5 billion buyback that it launched to block shareholders from selling their stakes to its top investor Young Poong and private equity firm MBK.Bain Capital, which backs Korea Zinc’s current leaders, separately secured a 1.41% stake in the company, the world’s biggest zinc smelter said in a regulatory filing.

Oct 28, 2024 - 12:20 PM

Dalian iron ore price hits more than one-week high on renewed China stimulus hopes teaser image

Dalian iron ore price hits more than one-week high on renewed China stimulus hopes

Singapore – Dalian iron ore futures climbed on Monday to their highest in more than a week, as renewed expectations of further stimulus from China overshadowed concerns about the top consumer’s faltering economic recovery and steel demand.The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 2.35% higher at 783.5 yuan ($109.92) a metric ton.The contract had earlier risen as much as 3.33% to 793.0 yuan, its strongest level since Oct. 17.

Oct 28, 2024 - 12:14 PM

Nornickel raises 2024 production guidance for all metals teaser image

Nornickel raises 2024 production guidance for all metals

Moscow – Russia’s Nornickel, the world’s largest producer of palladium and a major producer of refined nickel, has raised its 2024 production guidance for all metals.The company said on Monday that its full-year nickel production forecast was now at 196,000-204,000 metric tons, up from 184,000-194,000 tons previously. The new target was still below the 209,000 tons produced in 2023.

Oct 28, 2024 - 12:11 PM

Diamond-rich Botswana votes with President Masisi seeking second term teaser image

Diamond-rich Botswana votes with President Masisi seeking second term

Botswana will hold a general election on Wednesday with President Mokgweetsi Masisi competing against three challengers for a second term in the diamond-rich southern African state.The poll could be competitive, analysts said, although a divided opposition gives the advantage to Masisi’s Botswana Democratic Party (BDP), which has ruled the country of 2.3 million people since its independence from Britain in 1966.

Oct 28, 2024 - 12:08 PM

Mali accuses Barrick Gold of breaching agreement, miner denies claims teaser image

Mali accuses Barrick Gold of breaching agreement, miner denies claims

Mali has accused Barrick Gold of failing to abide by commitments made in a recent agreement, charges the Canadian miner denied on Thursday, saying it did not accept any claims of wrongdoing.Barrick, the world’s second-largest gold miner, announced on Sept. 30 it had agreed with the government to resolve disputes over the Loulo and Gounkoto gold mines, days after Malian authorities briefly detained four Malian staff working for the company.

Oct 25, 2024 - 4:24 PM

Rio Tinto signs MOU with China’s Nanjing Steel on decarbonization teaser image

Rio Tinto signs MOU with China’s Nanjing Steel on decarbonization

The world’s largest iron ore miner Rio Tinto said on Friday it signed a memorandum of understanding (MOU) with China’s Nanjing Iron and Steel Co (NISCO) on decarbonization technology in ironmaking.Technical teams from both companies will work closely on exploring pelletizing using the Pilbara fines and the application of biomass.Rio’s flagship product Pilbara blended fines are typically used to make sintered ore, used in blast furnaces to produce hot metal.

Oct 25, 2024 - 4:19 PM

Sanctions delay to Russian zinc mine causes supply miscalculation teaser image

Sanctions delay to Russian zinc mine causes supply miscalculation

Western sanctions on Russia’s zinc miner Ozernoye have left it struggling to replace equipment needed to ramp up output, three sources with knowledge of the matter said, meaning mined zinc supply forecasts for 2025 are likely to be too high.Without Ozernoye’s substantial contribution to global mined zinc supply next year, a shortage of zinc concentrate – a raw material to make zinc metal, used to galvanize steel, is likely to persist. Concern over tight supplies is one of the drivers that has pushed zinc prices to a 20-month high.

Oct 25, 2024 - 4:16 PM

Whitehaven Coal jumps on price outlook, output beat teaser image

Whitehaven Coal jumps on price outlook, output beat

Australia’s Whitehaven Coal said on Friday that it was optimistic about further gains in metallurgical coal prices due to supply constraints and reported quarterly production ahead of market expectations, sending its shares nearly 8% higher.Australia’s biggest independent coal miner, which acquired two metallurgical mines from BHP last year for $4.1 billion, said a shortfall in global coal production with long-term output constraints and higher sea-borne demand from India is expected to lift prices.

Oct 25, 2024 - 3:43 PM