Non-ferrous Metal Ore Mining

SQM Strikes Lithium Deal With State-Run Miner Codelco

29Dec

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World

SQM Strikes Lithium Deal With State-Run Miner Codelco

Chilean lithium company SQM has reached an agreement with state-run miner Codelco to jointly produce the key energy-transition metal that abounds in the country’s desert salt flats.Under the deal, Sociedad Quimica y Minera de Chile and the National Copper Corporation of Chile, as Codelco is formally known, would form a new company to develop lithium in the Salar de Atacama from 2025 to 2060, they said in a statement Wednesday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

28Dec

By adminNo Comments

World

SQM Strikes Lithium Deal With State-Run Miner Codelco

Chilean lithium company SQM has reached an agreement with state-run miner Codelco to jointly produce the key energy-transition metal that abounds in the country’s desert salt flats.Under the deal, Sociedad Quimica y Minera de Chile and the National Copper Corporation of Chile, as Codelco is formally known, would form a new company to develop lithium in the Salar de Atacama from 2025 to 2060, they said in a statement Wednesday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Platinum Miners Face Demand Downturn as EV Transition Revs Up

13Dec

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World

Platinum Miners Face Demand Downturn as EV Transition Revs Up

Miners of platinum metals are likely to face plummeting demand in the coming years, victim to the automotive industry’s transition to battery-electric vehicles.A decline in demand could happen as soon as 2025-26, Citi analysts say in a research note, forecasting “a structural demand downturn in a scale and speed hardly seen across the commodity markets.”Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

6Dec

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World

Why Gold Prices Are Hitting Records

The prospect that interest rates might have peaked is powering gold prices to record highs. Futures for delivery of gold in December settled at $2,071 a troy ounce Friday, topping their previous high of $2051.50 an ounce hit in August 2020. Gold has advanced for seven of the past eight weeks, bringing its gain this year to 11%. That puts futures on track for their best annual performance since 2020, when Covid-19 crashed the economy and lifted the precious metal 24%. Futures fell 2.3% to $2024.10 on Monday. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

5Dec

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Money

Why Gold Prices Are Hitting Records

The prospect that interest rates might have peaked is powering gold prices to record highs. Futures for delivery of gold in December settled at $2,071 a troy ounce Friday, topping their previous high of $2051.50 an ounce hit in August 2020. Gold has advanced for seven of the past eight weeks, bringing its gain this year to 11%. That puts futures on track for their best annual performance since 2020, when Covid-19 crashed the economy and lifted the precious metal 24%. Futures fell 2.3% to $2024.10 on Monday. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Investors Lose Legal Bid Against Exchange Over Nickel Market Blowup

29Nov

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World

Investors Lose Legal Bid Against Exchange Over Nickel Market Blowup

LONDON—The London Metal Exchange chalked up a big victory over investors on Wednesday, when a court said it was within its rights to cancel trades during a high-profile blowup in the nickel market sparked by Russia’s full-scale invasion of Ukraine.The U.K. court rejected claims by activist fund Elliott Investment Management and market maker Jane Street Global Trading that the exchange had overstepped its powers by nixing $12 billion in trades in March last year. Had they won, Elliott and Jane Street planned to claim hundreds of millions of dollars in damages combined in a follow-on trial.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Mining Industry Seeks to Define One Global Standard for Ethical Practices

23Nov

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World

Mining Industry Seeks to Define One Global Standard for Ethical Practices

Nov. 23, 2023 3:00 am ET|WSJ ProFour of the world’s leading mining associations—representing 86 companies operating 700 mines across 60 countries—are developing a responsible mining code to define one minimum global standard for the industry’s environmental impact, human rights and due diligence, in a bid to meet investor demands and define ethical practices.“We are working to build a standard that is practical, implementable, and adaptable for any mine operator with a commitment to responsible mining practices anywhere in the world, regardless of commodity, geography or size,” said a statement from the International Council on Mining and Metals, the World Gold Council, the Copper Mark and the Mining Association of Canada.Miners are subject to a complex web of requirements underpinning hu...

Biden's Electric-Vehicle Push Hits a Speed Bump

22Nov

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Money

Biden's Electric-Vehicle Push Hits a Speed Bump

Mining projects are being delayed after a plunge in prices for metals used in batteries.

MMG Plans to Buy Copper Mine in Africa for $1.88 Billion

21Nov

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World

MMG Plans to Buy Copper Mine in Africa for $1.88 Billion

Mining company MMG has agreed to buy a copper mine in Africa for an enterprise value of nearly $1.88 billion as part of an effort by the Chinese government-backed company to expand its portfolio.MMG, which is nearly 68%-owned by state-owned China Minmetals, plans to buy the Khoemacau mine in northwest Botswana in the emerging Kalahari Copper Belt, the Hong Kong-listed company said Tuesday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Copper Market Slump Threatens Shift to Wind Power, Electric Cars

12Nov

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World

Copper Market Slump Threatens Shift to Wind Power, Electric Cars

A prolonged slide in copper prices is challenging the world’s shift to renewable energy sources.Mining firms will need to dig up gigantic amounts of new copper over the next several years to supply the transition to renewables. But demand is slumping right now from manufacturers and builders who use the metal in everything from electrical wire to roofing. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8