Chile

Glencore Plc has actually stopped operations at its McArthur River zinc and lead mine (MRM) in Australia following heavy rains this week, the company said on Thursday. The suspension could intensify a tightened up supply of zinc concentrates, feedstock to make refined zinc, which is primarily utilized to galvanise steel to protect it from rust. MRM has momentarily stopped operations as we keep track of flooding in the area and evaluate effects onsite at our operations, Glencore stated in a declaration. McArthur River mine is among the world's biggest zinc and lead operations. It produced 262,200 tonnes of zinc in...

The following bids, mergers, disposals and acquisitions were reported by 1950 GMT on Wednesday: ** Energy storage company VTTI will get a 70% stake in Italy's biggest melted gas (LNG) terminal with grid operator Snam owning the rest, the Milan-listed group stated, announcing a deal to be finalised by year-end. ** The principles consultant to Norway's $1.6 trillion sovereign-wealth fund is assessing whether to recommend the financier to divest its multi-billion dollar stake in mining huge Rio Tinto for ecological concerns, the Wall Street Journal reported, mentioning people familiar with the matter. ** Abu Dhabi investor Lunate stated it had...

Mexican state energy business Pemex and billionaire financier Carlos Slim's team are Discussing ways to revive advancement of the country's deepwater natural gas field that was shelved two times previously, 2 sources told . The sources, both with direct understanding of the matter, stated executives of companies controlled by the Slim household consulted with Pemex on Tuesday to talk about the Gulf of Mexico gas field. One of the sources stated the parties had accepted reunite. The Lakach field has actually been hailed as a possible entrance to a. new deepwater Mexican gas frontier. The sources said Pemex. stated it...

Chile's struggling state-owned copper giant Codelco will be able to diversify its business, improve cash flow and change its service profile with its entry into the lithium market, Moody's. stated on Wednesday. Chile's federal government in 2015 tasked Codelco with enhancing. state control of the country's lithium industry through. partnerships with personal companies. Moody's says the electrical car (EV) industry will keep. interest in lithium high despite the current reduction in costs,. which was partially due to increased production. Codelco is going to be a considerable manufacturer of 2. products that are vital for the energy transition. worldwide, Barbara Mattos,...

Growing need for copper together with supply constraints might push rates higher than last year in 2024, the head of Chilean miner Antofagasta said. Speaking ahead of the World Copper Conference that begins on Monday, Antofagasta CEO Ivan Arriagada said an improving worldwide economy plus the increasing requirement for the metal utilized in electric vehicles, solar panels and other aspects crucial to the energy transition created a favorable circumstance. The trajectory we anticipate is towards higher levels, he stated in an interview last week, compared to last year's prices that he stated remained in the series of $3.80 to $3.85...

More global copper smelters were not running in March than in the very first 2 months, information from satellite surveillance of metal processing plants revealed, after Chinese smelters proposed to cut output and operations elsewhere undertook prepared upkeep. Earth-i, which specialises in observational data, tracks smelters representing approximately 90% of worldwide production for its Sage service and offers data to money supervisors, traders and miners. The business said that approximately 17.7% of international copper smelter capability kept an eye on was inactive in March compared to 11.5% throughout January and February combined. Typical inactive capacity in China increased to 9%...

Chilean state miner Codelco, the world's greatest copper miner, stated in a. statement on Thursday that its production for the first 3. months of 2024 landed near 300,000 metric heaps. We are recovering and will continue to do so, Codelco. chair Maximo Pacheco informed lawmakers from a committee visiting. its major Teniente mining complex. All of our employees are striving to satisfy our. production goal and reverse the circumstance we've experienced of. falling production and crucial task delays. Pacheco said lower production over the last couple of years. could be discussed by lower ore grades, a pit wall collapse and....

Chilean miner SQM's board chairman challenged what he called the doubtful intentions of a major shareholder, China's Tianqi Lithium Corp, the latest jab in an significantly public spat over SQM's planned partnership with state copper producer Codelco. Tianqi, a global lithium rival that holds about 20% of SQM shares, recently raised concerns over openness in the talks with Codelco, which is slated to take a 50% plus one share stake in the brand-new joint venture start in 2025 under a government policy focused on enhancing state control in Chile's lithium market. SQM, the world's No. 2 lithium manufacturer, and Codelco...

Chile state miner Codelco , the world's biggest copper manufacturer, stated on Thursday it had actually signed a brand-new threeyear cumulative labor agreement with the union representing workers at its northern Radomiro Tomic mine. The arrangement was signed on Wednesday but comes into force retroactively beginning April 1, the company said, without offering information on the modifications agreed in the new agreement. Codelco values its dialogue and shared vision with the STRT union and its associates, which is vital to strengthening safety management, accomplishing production goals and building together today and future of Radomiro Tomic and the company, the miner...

Chile's government on Tuesday opened more than two lots lithium salt flats to private financial investment, while reserving the respected Atacama and Maricunga deposits for state bulk control in lithium extraction. The long-anticipated statement clarifies how President Gabriel Boric's government plans to carry out a policy revealed in 2015 to enhance state control over the South American country's lithium industry, the world's second-largest after Australia. The opening to fresh tasks could more than double Chile's. production of lithium, a key product for electrical automobile. batteries, in a decade, stated Finance Minister Mario Marcel. What we revealed a year back is...

Chilean miner SQM's board chairman challenged what he called the doubtful intentions of the business's significant shareholder, China's Tianqi Lithium Corp, the newest jab in a progressively public spat over SQM's planned collaboration with state copper producer Codelco. Tianqi, an international lithium rival that holds about 20% of SQM shares, last week raised concerns over transparency in the talks with Codelco, which is slated to take a 50% plus one share stake in the brand-new joint endeavor beginning in 2025 under a government policy focused on increasing state control in Chile's lithium industry. SQM, the world's No. 2 lithium manufacturer,...

The Chilean federal government's new plan to introduce private investment at a variety of the nation's. lithium salt flats may stumble over unresolved information that will. raise issues for investors, mining executives and experts. stated on Wednesday. Market gamers said they are seeking information on how. agreements will be granted by officials in the country that is. the world's second-biggest lithium manufacturer and are worried. about pushback from Indigenous communities and ecological. campaigners. Chile in April will start looking for propositions from personal. companies interested in drawing out lithium, a crucial energy shift. product utilized in electrical lorry batteries, from...

SQM Chile told its shareholders on Thursday that it had pushed back the deadline for a deal to sell lithium with the state-owned copper producer Codelco because of "complexity" in the negotiations, including ongoing audits. SQM, Codelco and the Chilean government reached a preliminary agreement on December 31st. The agreement was in accordance with the mandate of the Chilean government to increase state control over the industry. Chile is the second largest producer in the world of lithium metal which is used in electric vehicle batteries. On Wednesday, the companies extended their deadline for announcing final terms to May 31....

Chilean miner Antofagasta Minerals on Thursday inaugurated a more than $2 billion desalination plant for its flagship copper mine in Chile, Los Pelambres, aimed at easing the effects of extreme drought that has actually hit production. The mine is the very first to run with desalinated water in an area of the country that has actually suffered a 15-year drought, drawing water from tanks and sparking concern over the fresh water supply. Chilean President Gabriel Boric praised the project, stating the situation in the Coquimbo area, where Los Pelambres is located, is worrying. Specifically with the climate change crisis, we...

China's unwrought copper imports rose 16% in March from a year earlier, customs data revealed on Friday, as industrial activity picked up and need improved. Imports of unwrought copper and items in China, the world's greatest consumer of the metal, rose to 474,000 metric tons in March, from 408,174 lots in the same month a year earlier, the General Administration of Customs information revealed. The data consists of anode, refined, alloy and semi-finished copper items. The double-digit growth was pegged at a fairly low base offered copper need was restricted by COVID-related limitations last March, said He Tianyu, a copper...