Mineral Resources

Environmental groups appealed on Wednesday a 'federal judge ruling' in favor of ioneer Rhyolite Ridge's lithium and boron project, claiming that the proposed Nevada mine would cause a rare 'wildflower' to go extinct. Below are some details. The Biden administration has approved the mine for 2024. Its decision is "science-based." Last month, a?federal court judge rejected environmentalists' claims that the U.S. government approved the project in an improper manner. The 9th U.S. Circuit Court of Appeals in San Francisco heard the appeal on Wednesday. Circuit Court of Appeals in San Francisco, stating that the mine's approval had been "flawed since...

Two?sources who are directly involved in the matter have confirmed that Rusal, the Russian aluminium manufacturer, plans to divert some of its aluminum away from China and towards Japan and other Asian countries, as the Iran War reshapes trade flows globally and sends prices soaring. According to Trade Data Monitor, the Middle East produced almost 7 million metric tonnes of primary aluminum last year. This is 9% of the global supply. Japan imported 2.1 million tons from the Middle East, with 400,000 tons coming from the UAE. The country imported 143,000 tonnes from China, but only 68,000 from Russia. Japanese...

The firms have announced that a Canada-based advisory firm and a Zambian mid-tier copper miner will pilot a sustainability bond this year to integrate artisanal mining into formal supply chains. Globally, artisanal mining is a source of livelihood for millions. In Africa, it is often done informally near or on company-owned mines. This reduces their profits, spreads pollution, and robs nations of revenue. Rob Karpati said that the proposed "stakeholder prosperiy bond" developed by?Veridicor and Zambia's Metalex Commodities aims to remedy this, according to its finance director. He said that the model "professionalises" the artisanal miners instead of removing them...

The price of iron ore futures fell on Wednesday, as major suppliers increased shipments and the U.S. President Donald Trump has agreed to a two-week halt in hostilities with Iran. Iron ore, the most traded contract at China's Dalian Commodity Exchange closed daytime trading 1.44% lower than its previous closing price of 789 yuan (US$115.60) per metric ton. The price of iron ore fell to its lowest level since March 11, at 785.5 Yuan, earlier in the session. Benchmark May Iron Ore traded on the Singapore Exchange fell 0.97% to $105.65 per?ton at 0749 GMT, after reaching its lowest level...

The Wall Street Journal reported that the U.S. government has rejected so far requests for relief from 'aluminum tariffs' from Ford Motor and other U.S. automobile manufacturers after fires at a Novelis facility?created supply bottlenecks. Ford asked for help from the Trump administration last week. The report cites people who were privy to the conversations. Ford wanted officials to relieve them of their duties until Novelis' Oswego aluminum rolling plant, in New York, is back up and running. The report stated that these discussions were part of ongoing discussions between automakers, and the?administration, about the impact President Donald Trump's new...

On Wednesday, gold prices rose to a three-week-high as?markets reassessed short-term risks following the announcement by U.S. president Donald Trump that he would suspend all bombings and attacks against Iran for a period of two weeks. This lowered fears about energy-driven inflation. As of 0215 GMT, spot gold was up by 2.3%, at $4,812.49 an ounce. Early in the session, gold bullion had risen more than 3% and reached its highest level since 19 March. U.S. gold futures for delivery in June rose 3.4% to $4.841.60. Trump claimed that Washington had agreed to a pause of two weeks in attacks,...

Vizsla Silver, a Canadian mining company, confirmed on Monday that nine of its ten workers had died after being abducted by a group of armed men in Concordia in the Mexican state Sinaloa in late January. The?Mexican Attorney General's Office announced in February that ten bodies had been found by the municipality. Five of the 10 were identified at the time. Three workers were still missing, but two more workers of the Vancouver-based miner were later confirmed dead. The workers were taken from a mine of silver in an area that the authorities claim was controlled by "Los Chapitos," which...

The country's Trade Minister Julio Molto stated on Monday that the government of Panama aims to complete a resolution by Tuesday authorizing removal of material from the?shuttered copper mine owned by First 'Quantum Minerals,' known as Cobre Panama. Molto stated at an event that "we are ready to make the move." Molto said at an event that between today and tomorrow, the Ministry of Commerce and Industries should be generating a resolution that will allow the company to "start removing" this material in order to be able take it out of?country. First Quantum previously stated that the mine holds approximately?38...

As investors awaited further signals on the U.S. - Iran situation, gold prices fell slightly Monday. By 1:31 pm, spot gold had fallen 0.4% to $4,654.99 an ounce. ET (1731 GMT). U.S. Gold futures closed 0.1% higher, at $4684.70. Iran said that it wants a lasting solution to its five-week war with Israel and the U.S. It has refused to reopen the Strait of Hormuz quickly under the temporary ceasefire, as both nations consider a framework for ending their conflict. Donald Trump said he would rain "hell" down on Iran if a deal was not reached by Tuesday. The focus...

Market participants were waiting to see if ceasefire talks could?avert a escalation of?the U.S.-Israeli War on Iran, as the deadline for reopening the Strait of Hormuz approaches. By 11:22 am, spot gold had not changed much from $4,669.27 an ounce. ET (1522 GMT), after falling by 1% in the earlier session. U.S. Gold futures increased 0.3% to $4694.50. The United States and Iran are weighing the structure of a plan that will end their five-week conflict as they prepare to meet a U.S. deadline. Meanwhile, Tehran is resisting pressure to reopen the Strait of Hormuz. Donald Trump, the U.S. President,...

Lucid 'Group missed Friday its expectations for the first quarter vehicle deliveries, hurt by an unauthorized supplier and a temporary sales halt. The company was unable to meet the demand for its luxury electric SUV Lucid Gravity during the third quarter because of a quality issue with the second-row seat. The company reported that it delivered 3,093 vehicles in the March 31st quarter. Visible Alpha analysts had predicted Lucid would produce 5,967 cars and deliver 5,237. Lucid's Chief Executive Marc Winterhoff said that deliveries were especially affected in February when they paused for a few minutes to "reverse the changes...

Salespeople for farm machinery are closing out a disappointing season of farming shows in North America, as farmers prepare to plant their spring crops without much new equipment. Farmers are still buying but have cut back on big-ticket purchases due to the high cost of fuel, machinery and fertilizer. They also avoid purchasing expensive items because global grain gluts have driven down crop prices. The manufacturer Degelman Industries' Chad Jones said, "They may not buy a million-dollar combine but they will buy a $100,000 tool." He was standing in front of his yellow-painted rockpickers and rippers, as well as other...

USA Rare Earth is considering building a permanent magnetic?plant? in France, according to its CEO, who announced the decision on Thursday after paying 40 million euros ($47m) for a stake of French rare earth processing company Carester. The United States, Europe, and other countries are working to secure domestic supplies of rare Earths. These are essential for green energy, electronics, and defence, and they want to reduce their dependence on China, the world's largest producer. The company announced that as part of its efforts to create an integrated rare-earths operation,?which includes mining, processing, and magnet manufacturing, USA Rare Earth would...

Iron ore prices fell on Thursday, to their lowest level in more than a year. This was due to a combination of rising supply and concerns about the prospects for demand in China's top consumer. Iron ore, the most traded contract on China's Dalian Commodity Exchange(DCE), fell 2.14% and is now 753 yuan per metric ton. This is its lowest price since March 5. Instead of May, the September contract is now most traded. The benchmark May ore price on the Singapore Exchange dropped 2.1% to $1003.55 per?ton at 0333 GMT after hitting its lowest level since March 10 when...

Iron ore futures fell on Wednesday as shipments of the key ingredient in steelmaking from major suppliers surged, and U.S. president Donald Trump agreed to an?two-week ceasefire? with Iran. As of 0212 GMT, the most traded?iron ore?contract at China's Dalian Commodity Exchange dropped 1.12% to 791.5 Yuan ($115.87), a metric tonne. The price fell to its lowest level since March 12, at 789.5 Yuan, earlier in the day. As of 0202 GMT, the benchmark May 'iron ore was trading at $105.75 per ton on the Singapore Exchange. As of April 7, iron ore shipments from Australia and Brazil, two major...

The price of aluminium rose on Tuesday, and the key spread for the metal on the London Metal Exchange also increased. This is due to the prolonged repairs that a smelter located in the United Arab Emirates has been facing since an Iranian attack late last month. In official open-outcry trade, the three-month contract for aluminium on London Metal Exchange (LME), gained 1.1% and reached $3,507 per metric ton. Emirates Global Aluminium announced on Friday that it could take up to one year to fully restore production at its Al Taweelah Smelter. The smelter produced 1.6 millions tons of cast...

After a long weekend of holidays, trading resumed on Tuesday in the 'top buyer China. Investors were awaiting clarity on the prospects for a resolution of the 'Iran War. Demand expectations were also a factor in the price rise, following Beijing's call to accelerate energy-related projects. By 0243 GMT, the most traded May iron ore contract at China's Dalian Commodity Exchange rose 0.5% to $805 yuan (US$117.03) per metric ton. The benchmark May ore traded on the Singapore Exchange rose 0.25% to $106.9 per ton. Iran on Monday said it wanted to?a permanent end to the conflict with the U.S.,...

Aluminum fell on Friday as the stronger U.S. Dollar and growing fears of an?economic recession due to?a??prolonged Iran War?outweighed supply concerns that helped the metal record its largest weekly gain in a single month. The Shanghai Futures Exchange's most traded aluminium closed the daytime trading down 0.78%, at 24,660 Yuan ($3,585.92), per metric ton. The contract gained 3% on a weekly basis. London Metal Exchange (LME), is closed Friday and Monday in observance of the Easter holiday. Dollar strengthened after U.S. president Donald Trump's speech about Iran. The speech dampened expectations for a quick end to the conflict, reigniting concerns...

Iron ore prices continued to fall on Friday for a second consecutive session. They were also set 'for a second week of declines,' mainly due to the high portside stock levels in a major consumer, China. However, signs of improved demand helped limit this drop. The iron ore contract most traded on China's Dalian Commodity Exchange closed the daytime trading down 0.5% to 799.5 Yuan ($116.26), posting a week-long fall of 1.5%. As of 0700 GMT the benchmark May iron ore traded on the Singapore Exchange was 0.92% lower, at $105.4 per ton. This represents a 1.7% drop so far...

The price of iron ore fell on Thursday, to its lowest level in nearly three weeks. This was due to the shrinking margins for steel and a faltering market following pre-holiday stockings by China's top consumer. By 0202 GMT the most traded?iron ore contracts on China's Dalian Commodity Exchange (DCE) had fallen 1.29% to $805 yuan ($116.94), a metric tonne, after having touched its lowest level since March 12, at 793.5. As of 0152 GMT, the benchmark May iron ore traded on Singapore Exchange was $0.8% lower, at $105.45 per?ton. Earlier, it hit its lowest price since March 16, at...

Prices of iron ore futures rebounded Wednesday on the back of upbeat factory data, and expectations that China's top consumer could take a?stimulus measure to brighten demand prospects. As of 15:00 GMT, the most-traded contract of iron ore on China's Dalian Commodity Exchange climbed 0.62%, to 816 Yuan ($118.55), a metric tonne, after a 0.8% drop the previous day. By 0145 GMT, the benchmark May iron ore contract on Singapore Exchange was up 0.68% at $106.2 per ton. China's factory output grew at its fastest rate in a full year in March. This was a relief to an economy that...

Aluminum prices rose on Tuesday. They were near their four-year highs and poised to make the biggest monthly gain since?almost 2 years. This was due to fears that a supply shortage would continue after Iranian strikes over the weekend damaged some of the Gulf's key smelters. The benchmark 'three-month' aluminum on the London Metal Exchange increased 2.1% by 1600GMT to $3,471.50 per metric ton, after earlier reaching $3,536, which was its highest level since March 12. Metal prices are up 10.6% in March. The attacks on Iran damaged two aluminum plants in the Gulf region operated by Aluminium Bahrain, and...

Sources with direct knowledge of the matter reportedly said on 'Tuesday that Tether had?let go? two senior precious metals trader?it hired only three months earlier from HSBC. El Salvador-headquartered Tether cut the roles as spot gold prices headed for their steepest monthly drop since the 2008 financial crisis, pressured by fading expectations of rate cuts and rising energy costs amid the war in ?Iran. Tether holds about 130 metric tonnes of physical gold backing their products by the end of 2025. CEO Paolo Ardoino told in January that they also planned to allocate 10-15% of their own investment portfolio to...

After easing restrictions, India allowed some state firms, including Bharat Electricals and the Steel Authority of India, to purchase critical equipment from China on Friday, according to both a government source and a document. Last month, it was reported that India would ease restrictions on purchasing Chinese equipment after a deadly border clash in 2020. This would allow state-run coal and power companies to import limited quantities of Chinese equipment as shortages and delays grew. India has also since eased its investment restrictions on China. The government order stated that Bharat Heavy Electricals, India's biggest state-run power equipment manufacturer, can...