Lithium trading hits record on CME as funds seize budding market
Trading of CME Group Inc.’s nearly three-year-old lithium hydroxide futures contract is soaring, with more funds crowding into the budding market as prices of the battery metal falter.
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US to commit more funds to African rail link for metal exports
The United States will provide more funds for the construction of the Lobito Corridor, a rail link to export metals from Central Africa’s Copperbelt, including a link for Zambia, US energy envoy Amos Hochstein said.
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Hedge funds ramp up copper bets as supply shocks reverberate
A number of hedge fund managers are betting that copper stocks are significantly undervalued, as they position themselves for gains this year.
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Codelco pays heavy price for ramping up debt burden to fund over-budget projects
Codelco is paying a high price for increasing its already heavy debt load to finance late and over-budget projects that are needed to maintain its status as the world’s biggest copper supplier.
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Funds sell copper as weak demand trumps supply pressures
Funds are adopting an increasingly bearish stance in the copper market, preferring to focus on a globally weak demand picture rather than signs of supply-chain stress.
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Aluminum price hits weakest in more than three months on fund selling
Mining News Pro - Aluminum prices touched their lowest in more than three months on Monday as speculative funds stepped up selling on expectations of rising inventories.
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Vitol funds to help restart Australia coal mine shut since 2007
Mining News Pro - Australian Pacific Coal Ltd. and its joint venture partner have agreed terms for $60 million funding from Vitol Asia Pte Ltd., allowing them to restart a coal mine in New South Wales that’s been shut for more than 16 years.
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China-linked fund seeks ouster of Australia rare earths miner’s chairman
Mining News Pro - A China-linked fund that is a major shareholder in Australia’s Northern Minerals has filed a motion to oust the rare earth developer’s chairman after the fund’s move for a higher stake was rejected on national interest grounds early this year.
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Iron ore price logs second weekly gain on China stimulus, sound fundamentals
Mining News Pro - Iron ore rose for a second consecutive week, underpinned by stimulus-related optimism and supportive fundamentals in top consumer China, although gains narrowed on Friday on fear of possible government supervision.
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Ottawa outlines eligibility for companies seeking C$1.5bn in critical minerals infrastructure funding
Mining News Pro - Ottawa is finally getting ready to accept applications for a C$1.5-billion infrastructure fund to support critical minerals mines, with stakeholders in Ontario’s Ring of Fire hoping they will be among the recipients.
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Hedge funds pile into uranium stocks set for ‘dramatic’ rise
Mining News Pro - Several hedge fund managers have started ratcheting up their exposure to uranium stocks, as they bet on significant price gains.
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Australia boosts critical minerals fund by over $1 billion to attract international investors
Mining News Pro - The Australian government will double the amount of money on offer to support critical minerals projects, aiming to attract American miners and processing companies to establish operations in Australia.
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Funds return to LME nickel with $4.6 billion in short positions
Mining News Pro - Investors are returning to the London nickel market with hefty bets that prices will fall, in a trend could set the stage for a fresh bout of volatility after steep declines this year.
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Caledonia explores funding options to build Zimbabwe’s biggest gold mine
Mining News Pro - Caledonia Mining Corp is exploring options to raise $250 million needed to develop its Bilboes project into what could be Zimbabwe’s biggest gold mine.
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Mining-focused buyout firm Appian raises $2 billion for new fund
Mining News Pro - Appian Capital Advisory, the mining-focused private equity firm, has raised $2 billion for its latest fund as its takes advantage of renewed investor interest in the sector fueled by the move toward green energy.
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Lundin scion leads group raising $500 million for mining fund
Mining News Pro - A group of investors led by a son of the late Swedish-Canadian mining tycoon Lukas Henrik Lundin is seeking to raise $500 million for a fund that will invest in mining projects.
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Fortescue to divert carbon offset funds to decarbonization
Mining News Pro - Australia’s Fortescue said on Friday it will divert funds that were allocated to carbon offsets towards decarbonization in a bid to achieve “Real Zero” by 2030.
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Fortescue to divert carbon offset funds to decarbonization
Mining News Pro - Australia’s Fortescue said on Friday it will divert funds that were allocated to carbon offsets towards decarbonization in a bid to achieve “Real Zero” by 2030.
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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.
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Iron ore price rallies on China fundamentals, but cap looms
Mining News Pro - The spot price of iron ore has climbed to a five-month high amid improving sentiment and some supportive fundamentals in China, the world’s top buyer of the steel raw material.
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Private debt funds of $750 million sought for BHP mine bid
Mining News Pro - Private credit funds are in talks to lend $750 million for an Australian company’s bid to buy one of BHP Group Ltd.’s Queensland mines.
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Ghana sovereign wealth fund invests in nation’s first lithium mine
Mining News Pro - Ghana’s sovereign wealth fund will invest almost $33 million in a lithium mine in the country and take a minority stake in its developer Atlantic Lithium, the company said on Friday.
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India asks US to release funds frozen over suspected Russia diamond link
Mining News Pro - India has asked the United States to release $26 million belonging to at least two Indian diamond firms frozen due to their alleged trade links with sanctioned Russian diamond major Alrosa, three Indian sources told Reuters.
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Piedmont commits to funding Atlantic Lithium’s Ghana project, acquires 22.5% stake
Mining News Pro - Piedmont Lithium (Nasdaq: PLL; ASX: PLL) has exercised its option to acquire an initial 22.5% stake in Atlantic Lithium’s (AIM: ALL, ASX: A11) Ewoyaa project in Ghana, having committed $17 million to fund the project through its definitive feasibility study (DFS).
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Barrick open to Saudi wealth fund buying stake in Pakistan’s Reko Diq project
Mining News Pro - Barrick Gold Corp is open to bringing in Saudi Arabia’s wealth fund as one of its partners in Pakistan’s Reko Diq gold and copper mine, Barrick CEO Mark Bristow told Reuters in an interview on Tuesday.
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