Mineral Resources

Hiroko Suzuki’s father sparked a U.S. Trade War four decades ago by converting the family business, which produced auto parts, into niche products. The tariffs that the Trump administration has imposed are so extensive, they threaten Hiroko Suzuki's own efforts to diversify her 78-year old company into medical products. Shigeru Shiba, Prime Minister of Japan, has described the U.S. Tariffs, which include 25% on automobiles as a "national crises" for the fourth largest economy in the world. Ryosei Takazawa, Japan's chief trade negotiator headed to Washington for a third round on Friday. Companies like Kyowa Industrial in Takasaki (north of...

Gold's best weekly gain since more than a week was expected on Friday as a weaker dollar and growing concerns over the deteriorating outlook of the world's largest economy increased the metal's appeal as a safe haven. As of 0204 GMT, spot gold rose 0.3% to $3303.92 per ounce. Bullion is up 3% this week, and on track to have its best performance weekly since early April. U.S. Gold Futures increased by 0.2% to $3.303.00. Dollars have lost over 1% this week, and are on track for their worst performance in a single week since April 7. This makes gold...

Gold prices fell by more than 1% Thursday, as the U.S. Dollar strengthened and investors took profits after the price had reached a two-week peak earlier in the day. By 1043 am, spot gold had fallen 0.4%, to $3,301.37 per ounce. ET (1443 GMT). Prices reached their highest level since the 9th of May earlier in the session, and have recorded gains in all three previous sessions. U.S. Gold Futures also dropped 0.4% to $3.301.00. Dollar index rises 0.3%, increasing the price of bullion for holders of foreign currencies. Jim Wycoff is a senior analyst at Kitco Metals. He says...

Vicuna Corp., owned by BHP Australia and Lundin Mining Canada, said that it expects to begin production on two copper projects in Argentina in 2030. Why it's important Argentina hasn't produced copper since 2018. However, it has a large pipeline of projects which could place the country in the top 10 global producers. There are 13 million metric tonnes of measured copper in the Josemaria mine and Filo del Sol deposit of Vicuna, and 25 millions metric tons of inferred or unmeasured copper. KEY QUOTES Jose Morea, the country manager of Vicuna, stated in an interview during ArMinera in Buenos...

Greenland handed a mining permit of 30 years to a Danish and French mining group on Wednesday. The group is aiming to mine a lunar-like rock which could provide a climate-friendly option in aluminum production. Since Donald Trump, the U.S. president, expressed interest in buying it in early this year, the Arctic island, rich in minerals and oil, as well as natural gas, has attracted international attention. Greenland Anorthosite Mining, which is developing an area in western Greenland, was granted the permit. The company has the backing of French investment group Jean Boulle Group, as well as state investment funds...

Gold prices rose on Wednesday for the third consecutive session and reached a new high. This was aided by a weaker dollar and a demand for safe havens amid economic and geopolitical uncertainties. As of 1024 ET (1440 GMT), spot gold rose 0.5% to $3,304.17 per ounce. U.S. Gold Futures rose 0.7% to $3307.00. The U.S. Dollar fell by 0.5% against other currencies. This made gold cheaper for holders of foreign currency. Wall Street's major indexes fell and government bond yields increased as investors closely monitored a pivotal discussion over U.S. president Donald Trump's proposed tax-cut bill, which has sparked...

The South Korean government announced on Wednesday that it would increase support for export industries including biopharmaceutical, auto, and the biopharmaceutical sectors. These sectors are expected to suffer from U.S. President Donald Trump’s tariffs. In a press release, the government said that it would prepare new measures for its biopharmaceutical firms as soon as Trump's tariffs in this sector are known. Trump signed an Executive Order earlier this month to reduce the time required for approval of pharmaceutical plants within the United States. This move is part new regulations designed to encourage domestic production, following Trump's probes of pharmaceutical imports...

Three sources said that Congolese minerals, such as tungsten tantalum, and tin which Kinshasa accuses Rwanda of exploiting illegally, could be legitimately exported to Rwanda under the terms of the peace deal being negotiated between the U.S. Kinshasa sees the pillage of its mineral wealth in eastern Congo as the key driver for the conflict between their forces and the Rwanda-backed M23 rebellions that has intensified ever since January. Kinshasa accuses Kigali smuggling over the border tens or millions of dollars of minerals each month, to be sold by Rwanda. Massad Boulos told the media earlier this month that Washington...

Hindalco Industries reported a fourth-quarter profit that was above analyst estimates on Tuesday. The surge in commodity price is largely responsible for this. The company's net profit for the three months ended March 31 rose to 52.83 trillion rupees (618.05 million dollars). According to LSEG data, analysts had predicted, on average 44.97 billion rupies. Aditya Birla Group's company has benefited from the higher prices of copper and aluminium. During the quarter, benchmark prices for aluminium and Copper rose by 17% and 10% respectively. Mining companies tend to see their margins and selling prices increase as commodity prices rise. Hindalco’s copper...

Clarios, the battery manufacturer owned by Brookfield, has been scouting sites for a critical minerals recovery and processing plant worth up to $1 billion in the U.S. Three states are being considered, according to a statement released on Tuesday. Clarios, in a press release, said that the plan was enabled by executive orders issued recently and the federal tax credits for advanced manufacturing. It is part of a strategy of the battery manufacturer to increase the supply of essential minerals within the U.S. The company has conducted preliminary site evaluations and is evaluating Indiana, Texas, and Utah for possible investment...

The U.S. Army Corps of Engineers has issued the final federal permit to Perpetua Resources for its Idaho antimony-and-gold Stibnite Project. In March, President Donald Trump used emergency powers to increase domestic production of vital minerals. This was part of an effort to counter China's near total control of this sector. The White House announced in April that it would expedite the permitting process for 10 mining projects throughout the United States as part of President Donald Trump’s efforts to increase critical minerals production. The Pentagon-backed project would be the first antimony mine in the country. Its estimated reserves are...

The metals industry will gather in Hong Kong to celebrate its annual event. They'll be focusing on the huge amounts of copper that are being diverted from the U.S. because President Donald Trump has threatened to impose tariffs. Trump's attempts to overturn the post-war system of trading have caused metals markets to roil and raised questions about global growth and commodity flows. In February, Trump ordered an inquiry into potential tariffs on copper. Copper is vital to energy transition technologies like electric vehicles and solar panel technology as well as power grid wiring. The possibility that Trump would impose tariffs...

The price of iron ore futures eased on Friday, and the prices were expected to decline modestly for the week due to a stronger dollar and a slowdown in demand for steelmaking materials from China, which is regarded as he biggest consumer. As of 0301 GMT, the most traded September iron ore contract at China's Dalian Commodity Exchange fell by 0.28% to $725 yuan (US$100.67) per metric ton. This week, the contract has fallen by 0.55%. The benchmark June ore price on the Singapore Exchange fell 0.2% to $98.8 per tonne, and has lost 1.26% this week. Mysteel, a consultancy,...

The White House said that a national security panel had divided opinions on its recommendation to Donald Trump regarding Nippon Steel’s bid for U.S. Steel. However, most members of the panel believe any security concerns posed by this deal can be addressed. According to an executive order Trump signed last month, the Committee on Foreign Investment in the U.S. on Tuesday submitted a report to Trump regarding the national security implications of the proposed merger. The document was submitted by Nippon Steel after it increased its investment pledge in U.S. Steel from $14 billion to $14 trillion in a desperate...

India's steel imports in April fell by 11.3% on an annual basis to 0.5 millions metric tons, following a drop in shipments to India from China and Japan. India, which is the second largest crude steel producer in the world, imposed in April a temporary tariff of 12% on certain steel imports. This was locally known as "a safeguard duty" to stop a rush of cheap shipments, primarily from China. The shipments of finished steel from China in April fell by 26.5% to 0.1 metric tons. The data revealed that imports from Japan fell to 85,600 tons, a 60% drop...

The prices of Dalian Iron Ore Futures fluctuated within a narrow range on Thursday, as investors balanced the resilient demand in China for this steelmaking ingredient against increasing shipments by leading producers Australia and Brazil. The September contract for iron ore on China's Dalian Commodity Exchange ended the daytime trading 0.14% higher, at 727 Yuan ($100.93). As of 0704 GMT, the benchmark June iron ore traded on Singapore Exchange was down by 0.56% to $99.25 per ton. Galaxy Futures, a broker, said in a recent note that the end-user demand is resilient, especially in the manufacturing industry, which continues driving...

Iron ore futures prices rose on Thursday, boosted by the resilient demand in China for this steelmaking ingredient, but the momentum was tempered by the rising shipments of the leading producers Australia, and Brazil. As of 0300 GMT, the most traded September iron ore contract at China's Dalian Commodity Exchange was up 0.28% to 728 yuan (US$101.10) per metric ton. The benchmark June Iron Ore at the Singapore Exchange fell 0.36% to $99.45 per ton. Galaxy Futures, a broker, said in a recent note that the end-user demand is resilient, especially in the manufacturing industry, which continues driving high growth...

The London Metal Exchange approved the construction of three new warehouses in Hong Kong. This brings the total number to seven. It is increasing its presence in this city, which is the gateway to China, the largest metals consumer in the world. Since Hong Kong Exchanges and Clearing acquired the LME, in 2012, approving warehouses to store metal traded on the LME has been a strategic objective. The LME is focusing on Hong Kong instead, as it is closer to mainland Asia than other Asian locations. Bonnie Y Chan, CEO of Hong Kong Exchanges and Clearing, announced the addition of...

Fidra Energy's plan to convert a 55-acre patch of countryside in northern England into Europe's biggest energy storage facility, a 1,45 gigawatt one once complete, was far from finalized when it acquired the land in 2023. Chris Elder, CEO of the Edinburgh-based firm, said, "We struggled to make economics work." The cost of the batteries used in this project has been roughly halved over the last 18 months. Fidra plans to begin installing battery units in its Thorpe Marsh 600-million-pound ($800 million) project next year. LFP batteries have fueled a boom in energy-storage projects, which - in terms of percentage...

On Wednesday, iron ore futures rose on the back of a weaker dollar and a resilient demand for this steelmaking ingredient. However, weakness in China's property sector tempered the gains. As of 0248 GMT, the most traded September iron ore contract at China's Dalian Commodity Exchange was trading 0.55% higher. It was 727 yuan (US$100.86) per metric ton. The benchmark June Iron Ore at the Singapore Exchange rose 0.35% to $99.75 per ton. Hexun Futures, a broker, said that the demand for iron ore exceeded expectations. This is due to the fact that steel mills are still operating at high...

Three sources said that China's CMOC group, the world's largest cobalt mining firm, called on the Democratic Republic of Congo to lift a current export ban for battery metal due to expire in the next month. Congo, which is the world's largest cobalt producer, implemented the four-month-long ban in February to try to reduce surpluses after cobalt prices reached a nine-year low of around $10 per lb or $22,000 per metric ton. . Sources said that CMOC Vice President Kenny Ives, during a closed session at an industry conference in Singapore, told delegates that Congo should remove the export restrictions...

A senior executive from Japan's Nippon Steel said that the company is committed to acquiring a 100% stake in U.S. Steel. The company also wants to meet with U.S. Treasury Sec. Scott Bessent, to clarify Donald Trump's stance regarding the deal. The deadline is May 21 for the steelmakers to complete a new national security review of the proposed merger of $15 billion by the Committee on Foreign Investment in the US. Former President Joe Biden had blocked the merger in January on national security grounds following an earlier review. Trump ordered the CFIUS in April to reassess this deal,...

The copper price in London was slightly lower on Monday as initial excitement over the 90 day tariff truce, between the U.S.A. and China (the top consumer of metal) began to fade. As of 0707 GMT, the benchmark copper price on London Metal Exchange was down by 0.7% to $9,461 per metric tonne. The U.S. has agreed to lower tit-fortat tariffs with China and to implement a 90 day pause in actions. Washington also announced that it would reduce the "de minimis tariff" for low-value shipments coming from China to 30 percent. BigMint, a consultancy, said that analysts project near-term...

Two sources familiar with the matter have confirmed that the Shanghai Futures Exchange is looking at opening its domestic nickel contract to foreign investors in this year instead of launching a new contract on its International Energy Exchange. ShFE has been exploring a more internationally-accessible nickel contract since at least 2023 as part of broader plans to build its global presence and challenge the dominance of rival the London Metal Exchange (LME). ShFE, according to industry sources, also wants to provide an alternative to LME Nickel after the trading disaster in March 2022. The LME contract had been suspended for...