Adani’s $1.2bn copper smelter to import concentrates from Peru, Chile
Indian billionaire Gautam Adani’s group will source copper concentrates from Peru, Chile and Australia to kick-start its $1.2 billion copper smelter, the world’s biggest single-location plant of its type, a top company official said.
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Adriatic Metals produces first concentrate at Bosnian silver mine
British-based Adriatic Metals has produced the first concentrate at its Vares silver project in central Bosnia, the company said on Wednesday.
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British Columbia rare earth project testing makes 50% TREO concentrates with 80% recovery
Defense Metals says metallurgical testing of samples from its Wicheeda rare earth project in British Columbia has shown that a 50% total rate earth oxide concentrate can be made. The recovery rate was 80%. The tests were carried out by SGS Canada.
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Gold demand to hit record with central bank buying, WGC says
Total gold demand hit a record last year and is expected to expand again in 2024 as the US Federal Reserve moves toward cutting interest rates, potentially aiding prices, according to the World Gold Council.
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Iron ore price drops as China central bank’s rate move defies expectation
Iron ore futures prices dropped for a second consecutive session on Monday as top consumer China defied market expectations and stood pat on its medium-term interest rate, leaving traders disappointed.
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Australia sends biggest copper concentrate shipment to China since 2020
Australia exported 27,500 metric tons of copper ores and concentrates worth $44.5 million to China in November, the most for any month since China imposed an informal ban in 2020, Australian customs data showed.
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Freeport Indonesia will need to slash output in 2024 if not allowed to export concentrate
Mining News Pro - Freeport Indonesia would need to reduce ore production by 40% in 2024 if the copper miner is not allowed to export concentrate before its smelter reaches full operating capacity, CEO Tony Wenas said on Tuesday.
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Russia’s largest untapped copper deposit starts concentrate production
Mining News Pro - Copper concentrate production started at Russia’s largest undeveloped copper deposit on Monday following a ceremony overseen by President Vladimir Putin via video link.
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One big gold seller among central banks has even more to offload
Mining News Pro - In a turnaround that’s already taken it from one of the world’s biggest gold buyers to a top seller this year, Kazakhstan’s central bank is looking to cut the metal’s share to as low as half of its $34.5 billion reserves
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Gold price firms with spotlight on central bank meetings
Mining News Pro - Gold prices bounced back on Tuesday on a weaker dollar and expectations that the US Federal Reserve will likely end its monetary tightening cycle after a widely expected rate hike this week.
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Reduced appetite from central banks to bring gold demand down in 2023
Mining News Pro - Demand for gold will drop 9% to 4,375 metric tons this year with central banks’ appetite falling from last year’s all-time high, consultancy Metals Focus said, adding that gold prices would be under pressure in the second half of 2023.
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Copper concentrate market to face steep deficit from 2025
Mining News Pro - The global copper concentrate market will see a steep deficit during 2025-2027 as Asian smelters ramped up capacity amid a lack of matching mining projects in the pipeline, analysts said.
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Canada Latin America Mexico and Central America Copper
Mining News Pro - The government of British Columbia has fined Teck Coal Limited C$15.4 million ($11.5m) for exceeding pollution thresholds and failing to build an active water treatment facility on time at its Fording River Operations in southeastern BC.
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Mystery whales baffle gold market after central bank purchases
Mining News Pro - A normally dry research report jolted the gold market this week, when it pointed to massive but so far unidentified sovereign buyers.
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Brazil central bank recruited to save Amazon from illegal mining
Mining News Pro - The threat to the Brazilian Amazon posed by illegal mining is so big that the formal mining industry is trying to get the country’s central bank involved.
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Gold price recovers as European Central Bank raises rates higher than expected
Mining News Pro - Gold prices regained ground after falling to the lowest level in 15 months as the European Central Bank took some investors by surprise and raised rates by 50 basis points on Thursday.
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Anglo American’s Quellaveco yields first copper concentrate
Mining News Pro - Anglo American said on Tuesday it had begun producing copper concentrate as its $5.5 billion Quellaveco mine in Peru, which is expected to churn out between 100,000 and 150,000 tonnes this year.
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Gold price bound for worst quarter in five, pressured by central banks’ hawkish rhetoric
Mining News Pro - Gold experienced a relatively larger decline on Thursday following a string of sluggish sessions this week, and is now headed for its worst quarter in five as the hawkish tone from global central banks continues to dim the metal’s appeal.
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Iron ore price down ahead of China’s central bank rate announcement
Mining News Pro - Iron ore prices fell on Tuesday as fresh covid-19 outbreaks in China clouded demand prospects in the world’s top steel producer.
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Central banks to increase gold holdings over crisis concerns
Mining News Pro - Central banks see gold as a reserve asset and will likely increase their holdings of the metal in the next twelve months, according to a survey by the World Gold Council.
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Canada’s first rare earth producer begins shipping concentrate
Mining News Pro - Vital Metals’ Nechalacho rare earths mine in Canada’s Northwest Territories has begun deliveries, the Canadian Press reported.
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China Minmetals, Zijin, BHP complete copper concentrate trade on MineHub platform
Mining News Pro - MineHub Technologies (TSXV: MHUB), developer of cost-savings solutions for mining companies, has announced that metals industry leaders China Minmetals, Zijin Mining and resources company BHP have concluded a two-step transaction on the company’s blockchain-based platform.
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Sabanour plans to produce 5 million tons of concentrate and pellet in the west
Mining News Pro - Chief executive of Sabanour Mining Company announced that in order to develop the company, the company intends to produce 5 million tons of concentrate and 5 million tons of pellet in the west of Iran.
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Gold reserves at Venezuelan central bank down to new 50-year low
Mining News Pro - The Venezuelan central bank’s gold reserves dropped seven tonnes last year to a new 50-year low, according to financial statements published by the bank on Tuesday.
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Trigon produces first concentrate at Kombat mine in Namibia
Mining News Pro - Trigon Metals has succeeded in restarting copper and silver concentrate production at the Kombat mine in Namibia, placing the project on track to meet commercial production targets by March.
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Visit: 559