Chinese miners eye overseas deals after battery metals slump

Battery metal prices are on the floor, and massive expansions by Chinese miners have been instrumental in driving them lower. Now, with many Western rivals cutting output or shutting down entirely, they want to get even bigger.

Newmont’s Akyem gold mine in Ghana draws Chinese interest

Newmont Corp. has kicked off the sale of its Akyem gold mine in Ghana, which is attracting interest from potential bidders including Chinese producers amid soaring prices for the metal, people with knowledge of the matter said.

Congo, Chinese partners sign reviewed Sicomines copper-cobalt joint venture agreement

Democratic Republic of Congo and Chinese investors on Thursday signed an agreement reached in January that revises some terms of their Sicomines copper and cobalt joint venture, Congo’s Infrastructure Minister Alexis Gisaro Muvunyi said on Thursday.

Jervois Global blames Chinese overproduction for job cuts

Australian miner Jervois Global Ltd. is cutting costs and jobs in response to a plunge in cobalt prices that it’s blaming on Chinese oversupply.

Chinese outbound investment in EVs likely set new record in 2023

Chinese outbound foreign direct investment along the electric vehicle value chain likely set a new record in 2023, a report from Rhodium Group showed, as western economies step up scrutiny of China’s production-focused, debt-driven development model.

Indonesia names two Chinese nationals as suspects in nickel fire

Indonesia named two Chinese nationals as suspects in an investigation into a deadly blast at a nickel smelter owned by top producer Tsingshan Holding Group.

Iron ore rises on upbeat Chinese industrial data

Mining News Pro - Dalian iron ore futures rose for the second consecutive session on Wednesday, as market participants reacted to robust industrial data amid expectations of economic stimulus and robust Chinese demand.

Copper miners, Chinese smelters agree first drop in fees in 3 yrs

Mining News Pro - Global miners on Friday reached agreements with Chinese smelters for a lower copper concentrate treatment and refining charges (TC/RCs) for 2024, the first drop in three years, sources familiar with the matter said.

Major Chinese copper trader sees glut weighing on prices in 2024

Mining News Pro - The global copper market will face a glut next year, according to one of China’s biggest traders of the metal, which will likely lead to further declines in the commodity that’s vital to the energy transition.

Rainfall plays key role in capping Chinese aluminum capacity

Mining News Pro - Another month, another new record for China’s primary aluminum production sector.

Australia’s Tietto Minerals urges rejection of Chinese firm’s takeover offer

Mining News Pro - Tietto Minerals said on Friday a takeover offer by a unit of China’s Zhaojin Mining Industry “materially undervalues” the Australian gold company.

Namibia orders police to stop Chinese firm’s lithium exports

Mining News Pro - Namibia’s government has ordered police to stop Xinfeng Investments from transporting lithium ore inside the country and from exporting it, accusing the Chinese miner of violating the country’s ban on critical raw mineral exports.

Chinese lithium plunge has created huge discount to US prices

Mining News Pro - Lithium prices are plunging around the world, but the slump is particularly glaring in China, where the key battery metal is trading at a big discount versus the US.

Iron ore price rises as output in Chinese steel mills hits highest since October 2020

Mining News Pro - Iron ore prices rose on Thursday helped by higher hot metal output data in China.

Rio Tinto shoulders Simandou iron ore bill as Chinese funds delayed

Mining News Pro - Rio Tinto has been solely funding preparatory work at the blocks it holds at Simandou, one of the world’s largest untapped iron ore deposits, as its Chinese partners are yet to make their funds available, two sources close to the matter said.

Four killed in blast at Chinese-owned quarry in Ghana

Mining News Pro - At least four people were killed, including one Chinese national, in an explosion at a granite quarry in western Ghana owned by Chinese company Omni Quarries late on Saturday, local officials said on Sunday.

Huge Chinese state iron ore buyer still an unknown quantity

Mining News Pro - A year after China set up a company that’s expected to become the world’s biggest iron ore buyer, the firm and how it will operate remains shrouded in mystery.

Chinese-owned mine hit by more delays in key Peru copper expansion project

Mining News Pro - A unit of state-owned China Minmetals Corp. is bracing for further delays in building a second pit at its troubled Las Bambas copper mine in Peru, while the military there continues to buffer the operation from protest disruptions.

Chinese-owned mine hit by more delays in key Peru copper expansion project

Mining News Pro - A unit of state-owned China Minmetals Corp. is bracing for further delays in building a second pit at its troubled Las Bambas copper mine in Peru, while the military there continues to buffer the operation from protest disruptions.

Chinese lithium producers set price floor as demand evaporates

Mining News Pro - China’s top lithium producers agreed this week to set a floor price of 250,000 yuan ($36,380) per tonne of lithium carbonate, six people familiar with the matter said, in an effort to slow a plunge in the price of the battery raw material.

Australia blocks Chinese investor from raising stake in rare earths miner

Mining News Pro - Australian rare earths producer Northern Minerals said on Tuesday that the federal government had prevented its largest shareholder, China’s Yuxiao Fund, from raising its stake in the company on grounds of national interest.

Albemarle expects 40% Chinese EV market growth to drive lithium demand

Mining News Pro - Lithium giant Albemarle Corp expects China’s electric vehicle (EV) market to grow 40% this year, or at least by 3 million vehicles, boosting demand for the battery metal in the world’s largest auto market.

Copper price rebounds on Chinese demand revival hopes

Mining News Pro - Copper price rose on Thursday as the dollar weakened and investors looked ahead to an expected revival in demand in China.

US detains Chinese aluminum suspected of forced-labor origin

Mining News Pro - The US is beginning to detain imports of aluminum products suspected of being made through forced labor, particularly from China’s Xinjiang region, according to one of the world’s biggest shipping firms.

Bolivia taps Chinese battery giant CATL to help develop lithium riches

Mining News Pro - Bolivia has chosen a consortium including Chinese battery giant CATL to help develop the South American country’s huge, but largely untapped, reserves of lithium after a lengthy bidding process involving firms from the United States and Russia.

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