Mineral Resources

Chile and the U.S. signed a statement on Thursday to start?discussions about rare earths and critical minerals. It was added that the first meeting would take place in 'the next two weeks. The areas of possible coordination include public-private financing of mining projects, management of scrap minerals recycling and exploration of new projects that can help boost mineral supplies in both countries. The Trump administration is pushing to reduce the reliance on China in a number of key minerals that are used for electric vehicles, semiconductors defense systems and consumer electronics. Chile is the second largest lithium producer in the...

Aluminum prices reached their highest level in almost four years on Thursday, as fears of a tighter supply for 'Europe and other areas' grew. The Middle East conflict is disrupting shipments through the Strait of Hormuz. The benchmark three-month aluminum on the London Metal Exchange increased 0.6% by 1111 GMT to $3,478.50 per metric ton after reaching $3,546.5. This was its highest level since late March 2022. The Middle East war has disrupted the deliveries of alumina and other raw materials to aluminium producers in the region. Norsk Hydro, a Norwegian company, announced on Thursday that its Qatalum aluminum smelter...

Chairman of firm says that it has made acquisitions related to the company's business. The US plans a $7.4 billion smelter. The US will reduce its reliance on Chinese rare earths through a number of projects By Heejin Kim SEOUL, 12 March - Korea Zinc has been in discussions with major U.S. tech firms about recycling data centre wastes and extracting rare earths. This is part of a U.S. effort to reduce its reliance on Chinese minerals. In an interview, Yun B. Choi, the Chairman of the firm, said that it is one of 'the world's largest smelters. It also...

After a short sell-off caused by the 'U.S.,' aluminium prices recovered on Wednesday as attention shifted to the loss of supply in the Middle East due to conflict. Donald Trump's comments on the Iran War. As of 0213 GMT, the most-traded aluminum contract on Shanghai Futures Exchange increased 2.31%, to 25,275 Yuan ($3,680.81) a metric ton. The contract fell 1.41% Tuesday, as Trump's remarks suggesting an end to the Iran war in the near future temporarily cooled supply concerns. The benchmark three-month aluminum?on London Metal Exchange rose 0.5% to $3,423 a ton. On Monday, it reached a high of $3,544....

Investors 'purchased' mining stocks on Wednesday, after a recent sale 'linked to the Middle East War, and stronger iron ore prices and gold prices boosted?the sector. As of 2339 GMT, the S&P/ASX 200 index was up by 0.2% at?8,713.10. The benchmark closed 1.1% higher on Monday. After a recent sell-off sparked by inflation fears linked to volatile energy costs, stocks are now on the road to recovery. The Middle East conflict has nearly erased gains from earlier this year. This leaves the benchmark index flat year-to date. U.S. president Donald Trump predicted that the conflict would end soon, even as...

Aluminum prices fell on Tuesday as profit-taking was a factor, while President Donald Trump's promise of a "rapid end to the Middle East War" eased supply concerns. As of 1030 GMT, the benchmark three-month price for?aluminum on London's Metal Exchange had fallen by 1.2% to $3,343 per metric ton. On Monday, the contract reached its highest level since March 2022, at $3,544, as concerns grew over possible shutdowns of Gulf Smelters who are unable to ship goods through the Strait of Hormuz. Trump predicted on Monday that the conflict would be over quickly, but warned that he'd escalate it if...

Venezuela's acting government sent Monday a mining regulations?proposal?to the country's ruling party controlled national assembly. This is the 'latest salvo' in a package of 'U.S.-backed' changes that are'meant to open up the economy for foreign investment in minerals and oil'. Since a January U.S. raid which captured President Nicolas Maduro in Venezuela, the administration of U.S. president Donald Trump has backed a series moves by acting president Delcy Rodriguez aimed at attracting investors and stabilizing the country. Trump has repeatedly praised Rodriguez for "cooperating" with the U.S. The draft law that has been seen but not yet made public, repeals...

The companies announced on Monday that the lithium developer, 'Controlled Thermal Resources' (CTR), will be listed in america through a $4.7billion merger with a blank-check company called 'Plum Acquisition Corp.?IV. After years of low activity on Wall Street, deals by special-purpose acquisition companies (SPACs) are resurging as companies turn to alternative routes to list. CTR, a lithium and 'geothermal energy developer, said that the deal would allow it to progress 'its flagship Hell's Kitchen Project and begin stage 1 construction. The stage 1 construction is located in California's Imperial Valley and will include a lithium carbonate production facility with a...

The head of Ghana's mining regulator said that the country will move ahead with a new gold royalty system on Tuesday, which will?link state revenues to increasing bullion prices. This is despite the opposition from China, other Western governments, and mining executives. Last week, it was reported that the United States and China along with several other Western countries had made a rare effort to convince Ghana to stop the policy. This is part of an 'overall push by African governments for more value to be derived from the surging commodity price. The new royalty rate replaces the flat 5%...

Futures linked to Canada's major stock index fell on Monday, as rising oil prices were a result of escalating tensions between the Middle East and North Africa. This increased inflation fears among investors. As of 6:50 a.m., March futures for the?S&P/TSX Composite Index were?down 0.92%. ET. Wall Street futures also fell sharply after the Middle East conflict. Geopolitical tensions increased after Iran named Mojtaba Khamenei as its supreme leader. He is the son of Ali Khamenei. This move was seen as proof that Tehran's hardliners are still firmly in control, especially with the conflict between the United States and Israel...

South32, an Australian mining company, said that the U.S. Forest Service had issued a draft decision allowing its Hermosa Mine?project to expand from private land into federal land. South32 reported that the agency had released a draft Record of Decision as well as a final Environmental impact Statement for the project located in the Patagonia Mountains. Hermosa is a deposit of silver, manganese and zinc. The authorization, if approved, would allow South32, Inc. to build infrastructure on land within the Coronado National Forest. This includes a primary access road and a secondary tailings dry-stack facility. South32 stated that Hermosa was...

The miner, Codelco, a state-owned company in Chile and the world's largest copper producer, signed a Memorandum of Understanding with Microsoft to evaluate joint initiatives?in artificial intelligence, advanced analytics, automation, and digital security. Key Context * The agreement is initially for 18 months with a joint governance of?strategic tracking and operational monitoring. * These include the use of intensive data, AI to make decisions, autonomous operations and automation of critical processes. Both companies will be involved in the early testing of new products and solutions, as well as sharing international experiences. KEY QUOTES Working with Microsoft, a technological leader of...

China has increased its ban on BHP iron ore a second time in two weeks. This is a result of a contract dispute that's been ongoing for months with the world's third-largest supplier. Three sources familiar with the matter said that China Mineral Resources Group (CMRG), the state-run buyer of iron ore, told domestic steel mills on Thursday they were prohibited from taking Newman fines – a popular BHP type of?iron stored in ports – as of next week. According to two sources, however, customers will still be able to receive their cargos in 'the next five days'. Due to...

Aluminum prices continued to rise on?Thursday. They were boosted by lingering fears about a tightening of global?supply in the midst of the Middle?East Conflict that shows?no sign?of easing. The Shanghai Futures Exchange's most traded aluminium contract closed the daytime trading up 0.38% to 25,240 yuan (US$3,669.56) a metric tonne. The benchmark three-month aluminum contract on the London Metal Exchange rose 1.32%, to $3,502.50 per ton. This is close to a four-year high of $3,544 that was reached earlier this week. Supply fears have been sparked by the war in the Middle East. This?region accounts for around 9 percent of global...

Two sources familiar with the matter said that commodities trader IXM has held preliminary 'talks' with major aluminium suppliers and is looking to restart its aluminium trading business in 2019. One source said that Geneva-based IXM owned by China's CMOC Group, and one of world's biggest traders of non-ferrous physical metals has been discussing internally the rebuilding of a?team to trade aluminium since December. The source said that no team had been formed so far. IXM met with Chinese metals producer Lygend Resources, a second source confirmed. A CMOC spokesperson stated that "as a 'trading company', IXM would adjust the...

Liontown, an Australian company, reported a wider?first-half?loss on Thursday following a non-cash?charge. It also said that it was reviewing the potential expansion of its Kathleen Valley mine due to likely?higher lithium prices. The price of the 'raw material' used in electric vehicles batteries is recovering after a two-year slump due to a slower than expected EV adoption that led to oversupply. In its December quarter report, Liontown reported that prices had improved. They achieved pricing of $900 per metric ton - up 28% from the previous quarter. It sold 190 000 tons of spodumene, a lithium raw material in the...

After a brief drop in prices triggered by comments made by the U.S. Donald Trump's comments on the?Iran war. Benchmark aluminum?on the London Metal Exchange?was up 1.1% at $3,444 per metric ton as of 1704 GMT. It reached $3,544 per ton earlier this week, its highest level since April 2022. Trump predicted on Monday that the conflict would be over well before his four-week timeline. Due to the closing of the Strait of Hormuz, the war has effectively "frozen" shipments and threatened global supplies of aluminum used for transport, construction and packing. Around seven million metric tonnes of?aluminium smelting is...

After a brief drop in prices triggered by Donald Trump's comments on the Iran war, aluminium prices rose?on Wednesday. Benchmark aluminium at the London Metal Exchange was 1.1% higher, trading at $3.442 per metric ton. It reached $3,544 per ton earlier this week, its highest level since April 2022. Trump predicted on Monday that the conflict would be over well before the four-week timeline he set out. Due to the closing of the Strait of Hormuz, the war has effectively frozen shipments and posed a threat to global supplies of aluminium for use in packaging, construction and transport. Around seven...

After a brief selloff caused by comments made by U.S. President Donald Trump about the Iran war, the focus shifted to 'pricing global supply losses due to the Middle East conflict. At 1018 GMT, benchmark aluminium at the London Metal Exchange had risen 1% to $3,439 per metric tonne. It reached $3,544 per ton earlier this week, its highest level since April 2022. Around seven?million tons of aluminum smelting is located in the Middle East, which represents 9% of global capacity. Trump predicted on Monday that the conflict would be over well before the four-week timeline he had set out....

Aluminum prices in Shanghai recovered on Wednesday, as the focus shifted to the loss in global supply due to conflict in the Middle East. This followed a brief sell-off that was triggered by Donald Trump's remarks about the Iran War. The Shanghai Futures Exchange's most traded aluminium contract closed the daytime trading up 2.6% to 25,215 Yuan ($3,672.23) a metric ton. The contract fell 1.41% Tuesday, as Trump's remarks suggesting that the Iran War would soon be over temporarily eased supply concerns. Benchmark three-month aluminum on the London Metal Exchange eased 0.19% per ton to $3,399.5 by 0802 GMT. It...

Australia's Lynas Rare ?Earths has revamped its supply agreement with ?Japan Australia Rare Earths, securing a firm annual commitment ?for 5,000 tonnes of ?neodymium-praseodymium, a key ?rare-earth magnet ?material. Japan Australia Rare Earths has committed to buying half of Lynas' total heavy rare Earth production. JARE, a joint venture between the state-run Japan Organization?for Metals and Energy Security and Sojitz Corp., has provided Lynas A$200,000,000?in order to increase production of heavy and light rare earth materials. CEO Amanda Lacaze said the deal would provide Japan's industry with "reliable" supplies of rare earth products. The agreement keeps Lynas’ total capacity of...

Iron ore futures in Dalian ended six sessions of gains on Tuesday, as oil prices fell and portside inventories increased. This dip may only be temporary as an expected rise in hot metal production is likely to push demand and prices up. As of 0303 GMT, the most-traded contract for May iron ore on China's Dalian Commodity Exchange was trading 0.19% lower. It was 780.5 Yuan ($113.35), per metric ton. The benchmark iron ore for April on the Singapore Exchange rose 0.13% to $103.2 per ton. Oil prices fell below $90 Tuesday, after reaching their highest level in over three...

Aluminum prices fell on Tuesday as investors rushed to sell their metals after U.S. president Donald Trump promised a "quick end" to the Middle East war, which eased concerns about the metal's availability. As of 0153 GMT, the most traded aluminium contract at the Shanghai Futures Exchange fell 2.88% to 24,465 Yuan ($3,550.95), after reaching its highest level since January 30, when it was 25,860 yuan?per metric ton. Benchmark three-month aluminum on the London Metal Exchange dropped 2.11% to $3 314 per ton. On Monday, the contract reached its highest level since March 2022. It was $3,544 per?ton. Trump promised...

London Metal Exchange announced?on Monday? that the existing limits on'rent' charged by its warehouse network?could be replaced with a daily fixed rate of load-out. The LME may require that daily, 1.5% of the metal in its warehouses be loaded onto warrants - title documents conferring ownership. The current system reduces rent to 'zero' if a storage facility fails to deliver the metal required within 80 days. The consultation is open until May 8 and will look at exempting cancellations over 10,000 metric tonnages from the 1.5% requirement. This would ensure that larger warehouses do not feel discouraged from accepting more...