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From green hype to bailouts, the nickel industry has imploded

From green hype to bailouts, the nickel industry has imploded

5th February 2024

Just 18 months ago, the world’s biggest mining company was in a nickel frenzy. BHP Group, to much fanfare, had struck a deal with Tesla to supply it with the crucial ingredient for electric... 


A stockpile of lithium

Germany to channel €1bn to critical raw material needs

2nd February 2024

The German government earmarked about €1-billion ($1.1-billion) for raw materials investments as it seeks to reduce dependency on producers such as China for critical minerals in high-tech and... 


The Cahora Bassa hydropower plant

Mozambique seeks to end 50-year hydropower pact with South Africa

2nd February 2024

Mozambique plans to end half a century of hydropower supply to South Africa’s State-owned electricity utility, raising risks for the continent’s most industrialized economy and threatening the... 


GM, Stellantis-backed lithium startup seeks $1bn for brine project

2nd February 2024

A private US lithium startup backed by Stellantis and General Motors Co. is working with financial advisers to seek more than $1-billion for its project in California. The funds are for a project... 


Gautam Adani

Call for lower prices of green hydrogen

2nd February 2024

Billionaire ports-to-coal tycoon Gautam Adani has called for a renewed global focus on lowering green hydrogen prices to spur the clean fuel’s adoption in emissions intensive industries. Lowering... 


Hedge funds react to supply shocks with bold bets on copper

Hedge funds react to supply shocks with bold bets on copper

1st February 2024

A number of hedge fund managers are betting that copper stocks are significantly undervalued, as they position themselves for gains this year. Funds including Tribeca Investment Partners, Terra... 


Sigma announces jump in size of Brazilian deposits

1st February 2024

Sigma Lithium announced an increase in the estimated size of its deposits of the electric vehicle battery metal in Brazil, which the company said will allow it to further expand production levels... 


Endeavour wins ruling to end strike at Burkina Faso gold mine

1st February 2024

Endeavour Mining secured a decision from a court in Burkina Faso ordering that a strike at the company’s second biggest mine should end immediately. The court issued an interim ruling on Tuesday... 


Canada Energy Minister sees opportunity in US pause on LNG

31st January 2024

US President Joe Biden’s decision to pause approvals of new licenses to export liquefied natural gas will create opportunity for Canada’s sector, Energy Minister Jonathan Wilkinson said Tuesday.... 


Rob McEwen

Rob McEwen seeks $100m for Argentina copper mine as Milei boosts prospects

31st January 2024

Canadian entrepreneur Rob McEwen is in talks to raise about $100-million for a copper project in Argentina, at a time when miners are betting that deregulation by the new government of Javier Milei... 


Lithium miners warn on plunging profits after price freefall

31st January 2024

Two of China’s biggest lithium companies became the latest miners to issue stark warnings over the health of the battery metal industry, telling investors to prepare for tumbling profits and asset... 


Trafigura-backed nickel mine seeks new partner to secure bailout

Trafigura-backed nickel mine seeks new partner to secure bailout

31st January 2024

A major nickel operation backed by Trafigura Group will need support from a new investor after the trading giant declined to contribute more funds as part of a French government rescue package for... 


A Trump win won’t sink IRA's climate benefits, California regulator predicts

31st January 2024

California’s top environmental regulator said it’s unlikely that the Inflation Reduction Act’s climate-focused tax credits will be undone, even if Donald Trump recaptures the White House in... 


Trader IXM will shrink aluminium unit to focus on core business

30th January 2024

IXM, the trading house owned by Chinese miner CMOC Group, is stepping back from the aluminum market to focus on its core business. The trading house, the third-largest metals trader behind... 


Endeavour goes to court to end strike at Burkina Faso gold mine

30th January 2024

An Endeavour Mining unit filed a lawsuit in a bid to end a strike in Burkina Faso that’s disrupted operations at the company’s second-biggest gold mine. The subsidiary that runs the Hounde project... 


Third mine disaster in a decade tests ESG boundaries in Brazil

30th January 2024

Investors were swift to dump debt of Braskem after the Brazilian petrochemicals maker’s salt mine partially collapsed in December — a situation that has forced tens of thousands to evacuate the... 


Albemarle lays off 4% of its global workforce

Albemarle lays off 4% of its global workforce

30th January 2024

Albemarle, the world's largest lithium producer, has laid off more than 300 employees, or 4% of its workforce, as part of a previously announced round of cost-cuts, The Information news site... 


Codelco pays heavy price for ramping up debt burden to fund over-budget projects

Codelco pays heavy price for ramping up debt burden to fund over-budget projects

30th January 2024

Codelco is paying a heavy 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.... 


Russian tycoon Nesis’s group sells Polymetal stake to Omani fund

29th January 2024

CT Holding, led by Russian billionaire Alexander Nesis, sold its entire holding in a gold producer to a Omani state-backed fund. ICT’s unit closed the deal to sell 23.9% in Polymetal International... 


Battery metals bust spurs output cut at leading lithium mine

Battery metals bust spurs output cut at leading lithium mine

29th January 2024

Australia’s biggest lithium mine and one the world’s flagship projects has become the latest battery-metals venture to feel the pain from faltering demand growth, with output set to be trimmed as... 


Hedge fund that's up 227% makes commodity bets on rate-cut talk

26th January 2024

XIB Asset Management, the Canadian hedge fund that gained more than 200% in the first two years of the pandemic, is now betting that gold and uranium will outperform as interest rates decline. The... 


Vedanta’s quarterly profit declines on weak prices, higher costs

26th January 2024

Billionaire Anil Agarwal’s Indian mining company Vedanta reported an 18% drop in quarterly profit on weak prices of key metals such as zinc and aluminum and higher finance costs. It posted a... 


Battery-metal price plunge closing mines, stalling deals

Battery-metal price plunge closing mines, stalling deals

26th January 2024

A meltdown in some of the most-hyped energy-transition metals is wreaking havoc across the mining world, stalling projects, scuppering deals and triggering a scramble for cash that promises to... 


Plaintiffs demand €582m from TÜV Süd over Brazil dam burst

25th January 2024

More than 1 400 plaintiffs are demanding over €582-million in damages from German industrial inspector TÜV Süd over its alleged role in the deadly collapse of a dam in Brazil, their lawyers said on... 


A rig at the Dasa uranium project in Niger

Uranium producer Niger launches mining sector overhaul

25th January 2024

Niger temporarily suspended the granting of new mining licenses, the first step in an audit of its mining sector as it seeks to boost government revenue. The country will also take stock of... 


The Maputo port

DP World’s $2bn Mozambique port expansion gets approval

24th January 2024

Mozambique approved an extended deal for DP World, Grindrod and other operators of its biggest port, including a $2-billion expansion that will further draw cargoes away from neighboring South... 


Australia lithium miners start cost-cutting drive on price rout

24th January 2024

Australia lithium miners are cutting jobs, trimming exploration budgets and reviewing dividend payments following a slump in prices of the key component in electric-vehicle batteries. Core Lithium... 


Winners of China’s 2023 coal-buying bonanza face a tougher year

Winners of China’s 2023 coal-buying bonanza face a tougher year

23rd January 2024

China’s coal-buying bonanza last year benefited suppliers of higher-grade fuel the most, but 2024 is likely to prove more challenging for imports generally as the world’s biggest buyer dials back... 


The Aurubis plant in Hamburg, Germany

Aurubis moves to terminate CEO’s contract after copper scam

23rd January 2024

Aurubis is preparing to terminate the contract of its CEO and two other executive board members, as the copper producer seeks to move on from a giant raw-material scam. The company’s supervisory... 


Nickel prices keep slumping even as mines close

Nickel prices keep slumping even as mines close

23rd January 2024

Nickel continued its slump, heading toward the lowest level in more than three years, even as the collapse in prices for the metal force mines to shutter. The metal used in stainless steel and... 


Codelco wins shareholder approval to secure first lithium asset

Codelco wins shareholder approval to secure first lithium asset

23rd January 2024

Codelco, the world’s biggest copper producer, won approval to buy Lithium Power International after shareholders of the Australian junior voted in favor of a takeover that diversifies the Chilean... 


Nickel price crash seen strengthening Indonesia's grip on supply

Nickel price crash seen strengthening Indonesia's grip on supply

22nd January 2024

A prolonged slump in nickel prices is stress-testing producers worldwide, raising the prospect of sweeping mine closures that will deepen Indonesia’s dominance of global supply. The metal used in... 


Andrew Forrest

Forrest shuts nickel mines after prices crash

22nd January 2024

Wyloo Metals, the private nickel producer owned by billionaire Andrew Forrest, is shutting down its Western Australian mines due to a sharp slump in prices for the key transition metal. The mines... 


Two Australian resource-rich regions facing destructive storms

Two Australian resource-rich regions facing destructive storms

22nd January 2024

Two Australian resource-rich regions are bracing for potentially damaging storms that could lead to flooding, the latest threats after months of extreme weather events. A tropical low developing... 


Trafigura’s former battery metals co-head Wetterwald is leaving

22nd January 2024

Mehdi Wetterwald, who was briefly co-head of battery metals at Trafigura Group, is leaving the trading house in the latest senior departure from its metals unit. Wetterwald, who joined Trafigura... 


Lula pushes ally for Vale CEO as Brazil’s iron-ore miner weighs succession

Lula pushes ally for Vale CEO as Brazil’s iron-ore miner weighs succession

22nd January 2024

Political lobbying as much as boardroom maneuvering could determine who wins the race to become the next boss of Vale, the world’s No. 2 iron-ore producer. Brazilian President Luiz Inacio Lula da... 


Rebel fighters in Sudan

Gold riches fuel Sudan militia’s war to rule nation, UN says

22nd January 2024

Sudan’s paramilitary Rapid Support Forces (RSF) group is using large-scale proceeds from gold mining to fund its devastating war against the nation’s army, according to United Nations... 


Cyclone forming near Australia's coast may have 'severe impact'

19th January 2024

Australia’s resource-rich Queensland state is bracing for its second tropical cyclone in a little more than a month, with a storm off the coast expected to strengthen during the weekend. A... 


Sébastien de Montessus

Endeavour Mining says former CEO to lose $29.1m in pay

19th January 2024

Endeavour Mining is stripping its former CEO Sébastien de Montessus of $29.1-million in renumeration after he was fired earlier this month for “serious misconduct". The London-based gold miner... 


Gautam Adani

Adani says green hydrogen can repeat solar's path to low costs

19th January 2024

Billionaire ports-to-coal tycoon Gautam Adani has called for a renewed global focus on lowering green hydrogen prices to spur the clean fuel’s adoption in emissions intensive industries. Lowering... 


China cobalt buyers use global glut to challenge pricing

China cobalt buyers use global glut to challenge pricing

18th January 2024

China’s battery industry has seized on a glut in the global cobalt market to push through a change in the way the commodity is priced. A rapid expansion of cobalt mining in Democratic Republic of... 


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