Lynas Rare Earths’ revenue slumps, misses expectations
Australian miner Lynas posted a slump in third-quarter sales revenue on Wednesday, missing analyst expectations on the back of a plunge in prices for rare earths, while it flagged higher costs at a project in Western Australia.
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China’s coal price slump likely to persist until start of summer
Chinese coal prices are likely to keep falling until the start of the peak summer season, suppressing imports of the fossil fuel and taking a toll on the country’s miners.
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Top China lithium firms look past profit slump and vow expansion
Undeterred by slumping profits, China’s lithium giants are planning to grab a bigger slice of the market.
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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.
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China’s copper smelters to discuss production cut as fees slump
China’s biggest copper smelters are set to meet in Beijing next week to discuss measures to counter a plunge in ore processing fees to the lowest level in years, including potential production cuts.
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Impala Platinum considers mine closures after profit slump
Impala Platinum could shut some loss-making South African mining operations if metal prices deteriorate further and restructuring efforts fail to improve margins, chief executive Nico Muller said.
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Nickel price extends slump on Indonesian glut as metals hit by Fed
Nickel extended a year-long slump as rising Indonesian supplies help create a glut, while other base metals declined on reduced bets that the Federal Reserve will cut interest rates next month.
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Australian mining group pushes govt for tax credit as lithium, nickel prices slump
An Australian mining association has called for a new production tax credit during meetings with senior ministers called as nickel and lithium miners curtail projects and review new mines in response to a global slump in prices.
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Nickel prices keep slumping even as mines close
Nickel futures continued to edge lower on the London Metal Exchange, despite a slew of announcements by companies cutting production in response to a collapse in prices.
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Most cobalt producers loss-making after 2023 price slump, says ERG
Most cobalt producers are likely to be losing money on every ton of cobalt they produce after a price slump last year, Benedikt Sobotka, chief executive at metals miner Eurasian Resources Group (ERG), said on Tuesday.
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Codelco gets double downgrade at S&P as copper slump swells debt
Mining News Pro - Codelco had its credit rating cut two notches by S&P Global Ratings as an output slump prompts the world’s largest copper producer to raise debt levels for project funding.
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Albemarle cuts annual forecast on slumping lithium prices
Mining News Pro - Albemarle, the world’s largest producer of lithium for electric vehicle batteries, trimmed its annual forecast on Wednesday and reported a lower-than-expected quarterly profit amid slumping prices for the ultralight metal.
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Gold price slump may boost demand from India’s festive shoppers
Mining News Pro - A slump in gold prices to a seven-month low in India may stimulate demand in the current festive season, when people traditionally buy more coins and ornaments.
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South African mining profits slump by almost half
Mining News Pro - South African mining company profits have plunged by almost half this year, dropping almost 100 billion rand ($5.2 billion) because of the blows from lower commodity prices, crippling power cuts, rail network constraints and rising costs, Fin24 said, citing a report by PwC.
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Slumping lithium prices signal angst over China’s demand outlook
Mining News Pro - Lithium prices are spiraling down toward the lowest level in two years on concerns over the strength of Chinese demand for the material, a key ingredient in electric vehicle batteries.
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Iron ore price slump widens as China demand concerns mount
Mining News Pro - Iron ore futures slumped on Thursday on fresh concerns about China’s steel production curbs and recovery prospects for the struggling domestic property sector, with sentiment further dampened by flooding in the top steelmaking province of Hebei.
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Rio Tinto profit misses on iron ore price slump, cuts dividend
Mining News Pro - Rio Tinto’s first-half underlying earnings fell to their lowest in three years as easing iron ore prices offset an uptick in shipments from its Pilbara operations, it said on Wednesday, while also announcing a dividend cut
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Vedanta posts 41% slump in Q1 profit on soft metal prices
Mining News Pro - Indian metals-to-oil conglomerate Vedanta reported a 40.8% plunge in first-quarter profit on Friday, as weak commodity prices outweighed a slight increase in production and sales for metals like aluminum.
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Rio Tinto cautions against takeover fever after lithium’s dramatic price slump
Mining News Pro - Lithium’s dramatic price slump has mining heavyweights chasing takeovers of companies with early stage or pre-production projects. But one giant is warning that offering high premiums for smaller miners comes with risks.
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Vale’s profit slumps well below forecasts
Mining News Pro - Brazil’s Vale, one of the world’s largest miners, reported a first quarter net profit down 59% from a year earlier, far below analyst expectations, as profits were dragged down by weaker sales and lower iron ore prices.
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Iron ore price extends decline as China demand slumps
Mining News Pro - The iron ore price was the lowest since November on Monday as weak steel demand in China prompted a production slowdown.
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Chile mining minister sees copper ‘production slump’ reversing
Mining News Pro - Chile’s copper production should pick up in the coming years after a recent slump, mining minister Marcela Hernando told Reuters on Thursday, adding that dialogue with mining firms over planned tax and royalty changes was helping ease industry concerns.
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Iron ore’s slump likely to deepen until China’s economy revives
Mining News Pro - Iron ore is one the poorest performing commodities this year, and the rout in prices is only likely to deepen until China’s economy stages a revival.
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Harmony Gold drops on profit slump
Mining News Pro - Shares of Harmony Gold fell 4% on Tuesday, after the South African company posted a 49% decline in profit and said it has paused a project to extend the mine life at its Tshepong operations, citing tough mining conditions and low grades.
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Antofagasta’s profit slumps on rising costs
Mining News Pro - Antofagasta posted a fall in half-year profit on Thursday, as higher costs, lower grades and a persistent drought in Chile hit the miner’s copper production.
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