Mining Industry

Mining News Pro - Hormozgan Steel Company has sold 230 thousand tons of export and 218 thousand tons of domestic steel which caused 82 increase in sales rate of this company.

Mining News Pro - China’s biggest cobalt refiner Zhejiang Huayou Cobalt said on Thursday its overseas unit is pulling out a deal to invest $66.3 million in a cobalt mine in the Democratic Republic of Congo (DRC) after prices of the metal slid.

Mining News Pro - Canada’s Ivanhoe Mines (TSX:IVN) has received a second major strategic investment of C$612 million (about $490m) from its largest shareholder, China’s state-owned CITIC Metal, that will be used towards speeding up construction of a giant copper mine in the Democratic Republic of Congo.

Mining News Pro - The London Metal Exchange (LME) lead market was roiled in early June by news of an unplanned outage at the Port Pirie lead smelter in Australia.

Mining News Pro - Zambia’s President Edgar Lungu met with the chairman of Vedanta Resources to discuss the disputed liquidation of its Konkola CopperMines, a statement issued by the Zambian State House said on Wednesday.

Mining News Pro - Machines are taking over a giant Chilean copper mine, replacing about a third of the workforce as owner Codelco struggles to keep its title as the world’s largest producer of the metal.

Mining News Pro - Copper exports from the port of Matarani have resumed after anti-mining protests that had blocked key infrastructure in the country’s southern copper belt eased over the weekend, a spokeswoman for the port operator said on Tuesday.

Mining News Pro - Global ferrous scrap prices observe softening in almost all major markets on weak demand this week except East Asia. Turkey steelmakers booked a single cargo, however, Japanese scrap prices observe marginal correction in the monthly Kanto monthly export tender. Chinese scrap prices lowered successively on sharp fall in Iron ore prices with three price cuts announced for domestic scrap purchase by Shagang Steel.

Mining News Pro - Tata Steel will be recalibrating its capital expenditure for the current financial year from INR 12,000 crore to INR 8,000 crore, the company’s CEO & Managing Director, T.V. Narendran, told mediapersons on the sidelines of the launch of its steel retail store ‘steeljunction’ in a new avatar, in Kolkata on Saturday. He further said Tata Steel was in the process of simplifying its corporate structure and that the company was looking at creating a downstream company for many of its downstream assets.

Mining News Pro - While it is a known fact that electric vehicles (EVs) use about four times more copper than gasoline-powered vehicles, short-term demand for the metal won’t come from the car industry, but from the charging stations and related infrastructure needed to support EV growth, a new study shows.

Mining News Pro - Indonesia is weighing whether to advance the timeline for a planned ban on exports of mineral ores, the country’s trade minister said a day after nickel prices surged on speculation the Southeast Asian nation will halt shipments.

Mining News Pro - Esfahan Steel Company exported 55 percent of its products and by the end of the year the exports will reach 1.2 million tons.

Mining News Pro - Chile’s Codelco, the world’s largest copper producer, has signed a 10-year loan agreement with Export Development Canada, the country’s export credit agency, which will allow the state-owned miner to access $300 million to finance an ambitious overhaul of its aging mines.

Mining News Pro - Indonesia’s nickel miners association (APNI) urged the government on Thursday not to bring forward a ban on raw mineral exports from 2022.

Mining News Pro - Glencore’s Mopani Copper Mines in Zambia has closed two shafts at its Nkana mine, the company said on Thursday, a move that an opposition leader said had led to 1,400 job losses.

Mining News Pro - Anti-mining protests in Peru have held up about $400 million in copper exports from some of the country’s top mines and blocked supplies from reaching their operations for nearly three weeks, the manager of port operator Tisur said on Thursday.

Mining News Pro - Albemarle Corp (NYSE: ALB), the world’s No. 1 lithium producer, is delaying plans to add about 125,000 tonnes of processing capacity as an oversupply of the white metal used to make the batteries that power electric vehicles (EVs) and high tech devices continues to drive down prices.

Mining News Pro - Both cobalt and lithium prices have experienced a collapse, driven by a loosening of fundamentals as a number of new projects come online, Fitch Solutions’ latest Industry Trend analysis reports.

Mining News Pro - Glencore Plc is planning to halt production at one of the world’s biggest cobalt mines after prices for the battery metal collapsed and costs at the project increased, according to a person familiar with the situation.

Mining News Pro - BHP Group is expanding its nickel business and plans to ramp up sales for the fast-growing electric vehicle (EV) sector, Asset President Eddie Haegel said on Monday.

In Picture