Mining

Barrick Mining announced on Tuesday that it has appointed Sebastiaan bock as the chief executive officer for its Rest of World division. He will be in charge of all gold and copper projects and operations outside North America. Barrick now has a global leader to lead its international business. The company is preparing to divide its North American assets from its overseas assets, in an effort to sharpen management focus and reduce the 'valuation drag' investors apply to miner with exposure to high-risk jurisdictions. Bock will oversee a portfolio that spans Africa, the Middle East and Latin America, as well...

Aluminum?prices rose to a seven week high on Tuesday, as 'concerns about supply from the Gulf coincided wth Norsk Hydro announcing a reduction in feedstock production?at?its Brazilian facility. Benchmark three-month "aluminum" on the London Metal Exchange rose 1.9% at 0850 GMT to $3,378.50 per metric ton, after reaching $3,382.5 as its highest level since June 22. Aluminum extended its gains for a seventh session in a row after Norsk Hydro announced that its Alunorte facility in Brazil had reduced alumina production to 50% of its capacity due to the reduction of natural gas supply. The plant's annual production capacity is...

Two sources with knowledge of the matter have confirmed that Coal India is considering the acquisition of a unit?of Canada's Wealth Minerals, which has lithium mining assets?in Chile. This move will be one of India's biggest efforts to secure lithium resources overseas, which is a vital mineral used in the production of electric vehicle batteries and storage systems. India has only had limited success in acquiring vital mineral assets overseas. It has only secured one lithium exploration and mining agreement overseas, which covers five blocks in Argentina by 2024. One source said that as a first step Coal India, and...

Barrick Mining's second-quarter profits were below estimates on Monday, as higher costs in its?gold?operations countered rising bullion price. The company also struck a $1.95billion deal with Newmont for the settlement of disputes regarding Nevada Gold Mines. Newmont has consented to Barrick’s planned initial public offer of its North American assets of gold, the companies announced in a press release. This opens the way for Barrick to complete an IPO by the end 2026. Barrick is searching for a new chief executive officer to lead its non-North American operations. Mark Hill, the CEO of Barrick North America, has stated that he...

Gold prices fell on Monday due to a stronger dollar and investors awaiting key U.S. data about inflation that could influence expectations of the Federal Reserve. By 09:33 am EDT (1333 GMT), spot gold had fallen 0.2%, to $4335.27 an ounce. After an unexpected decline in U.S. Nonfarm Payrolls, it reached its highest level since Friday. U.S. Gold Futures dropped 0.1% to $4,394.00. Jim Wyckoff is a market analyst at American Gold Exchange. He said, "Gold is under pressure from the firm dollar index today and is taking a break?ahead?of a key inflation report due later this week." Dollar-priced gold...

TechMet, a mining investor, announced on Monday that it would 'form a U.S. based subsidiary in order to attract capital from both public and private partners for critical minerals projects. The U.S. Government is a major shareholder in Dublin-based TechMet. This new subsidiary will help the company boost the mining industry of the United States, which was highlighted by President Donald Trump last week. Brian Menell is the CEO of TechMet. He said, "This is a significant acceleration in TechMet's commitment towards building out its U.S. critical minerals production platform." Menell will be appointed chairman of the U.S.-focused company, which...

According to a document seen by, the U.S. Export-Import Bank will lend $58 million to three companies that deal with critical minerals as part of President Donald Trump's efforts to wean America off Chinese imports and bolster American mining and processing. The funding coincides with Trump's Friday meeting with executives of some of the largest mining companies in the world to highlight the country's needs for better supplies. John Jovanovic said, "Critical Mineral Security is?National Security," adding that the funding will "fortify supply chains, restore vital industries which support high-paying American Jobs and protect everyday Americans from supply surprises." Westwater...

Gold surged on Friday after a 'unexpected' drop in U.S. Nonfarm Payrolls for July dashed hopes of rate hikes and put bullion in a position to have its best week for seven months. Gold spot jumped 2.3%, to $4336.02 an ounce at 2:42 pm EDT (1842 GMT), after having risen by more than 3% and reaching its highest level since June 17. Bullion prices have risen more than 7% this week, the biggest weekly increase since January 19. U.S. Gold futures rose 2.3%, settling at $4399.70. The Bureau of Labor Statistics of the U.S. Department of Labor reported that nonfarm...

The Globe and Mail, citing anonymous sources, reported that Canada and the U.S. were discussing a potential deal where Ottawa would accept a list of Trump Administration?trade requests in exchange for a certain relief on sectoral tariffs. According to the report, despite extensive discussions and an exchange of written positions, there has not been any agreement between the two parties. Could not verify the report immediately. The 'White House' and Canada's Prime Minster's Office didn't immediately respond to requests for a comment. President Donald Trump announced 50% tariffs last month on a broad range of?imports coming from Canada. These tariffs...

MP Materials, a rare?earths manufacturer, reported on Thursday?second quarter results that 'beat analysts' expectations because of rising sales and the price support agreement it has with the U.S. Government. In after-hours trading, the company's stock rose 2.2% to reach $48.52. Rare earths is a grouping of 17 metals which are used to produce magnets, which turn energy into motion. Washington's deal with MP in July 2025 was designed to loosen China’s grip on these materials which are used for weapons, electric cars and many electronics. MP Materials owns the only rare earths mining operation in North America, and it processes...

The U.S. Commerce Department announced on Thursday that it would block the?exports?of tungsten and battery scrap, as part of an effort to boost domestic recycling and vital mineral production. This move was anticipated after President Donald Trump signed an executive order last week giving federal officials the authority to limit the shipment of scrap that contains valuable critical minerals overseas to China and other nations. The order bans the exportation of so-called 'black?mass', which is basically shredded lithium-ion battery scrap, and scrap containing Tungsten, a metal that is used to harden steel, but also widely used in?defense? applications. This is...

Mark Carney, the Prime Minister of Canada, was asked about Donald Trump's comments that "Canada is a nasty country" on Thursday. Carney responded by saying Ottawa stood up for local workers and businesses. Carney told reporters in Saguenay in Quebec that Canadian negotiators were in Washington having a detailed discussion with their U.S. counterparts on a review of the U.S. Mexico-Canada trade agreement. Trump claimed in a speech on Wednesday,?in Las Vegas, that "Canada is nasty," referring to the "nasty leaders" of Canada. Trump is still far from Ottawa and has threatened to increase tariffs on Canadian imports if Ottawa...

Doctor Copper had a panic episode last week when the Democratic Republic of Congo banned exports of cobalt and copper concentrates. On the news, London Metal Exchange (LME), three-month copper jumped to a six-month high at $14,369.50 a metric ton. Cash price reached a record high of $14.453.60 per metric ton as spreads tightened simultaneously. Despite Congo being the largest supplier of battery metal in the world, there was no reaction from?the CME cobalt prices. Cash cobalt ended Friday at $25.99 a lb, a 0.9% drop on the previous week. It is easy to understand the cobalt market indifference. Congo...

Aluminum prices climbed?for the seventh time in seven sessions on Tuesday as concerns about a tight supply?and an ongoing shortage?boosted light metal. Benchmark 'three-month' aluminum on the London Metal Exchange rose 1.01% to $3,351 per metric ton at 0700 GMT. This was the highest price for aluminum since June 23. The most traded aluminium contract at the Shanghai Futures Exchange increased by 0.89%, to 24,250 yuan (about $3,595.15) per ton. This is its highest level since June 15. Rupankar RM is the head of AL Circle's market research and data analytics. "Aluminium’s rise reflects the continued tightness on the physical...

The light metal's price rose for the seventh time in a row on Tuesday as concerns about a tight supply and an ongoing deficit drove up prices. Benchmark three-month "aluminum" on the London Metal Exchange rose 0.54% to $3,335.5 per metric ton at 0300 GMT. The price of aluminum had reached $3,350 per ton earlier in the day, its highest level since the 23rd of June. The most traded aluminium contract at the Shanghai Futures Exchange increased 0.62%, to 24,185 Yuan ($3,586.20), per ton. Analysts expect that the market will remain in deficit for this year. The U.S. - Iran...

Gold prices fell on Monday, as investors took profits following a seven-week price high. Meanwhile, markets looked at U.S. inflation figures for new clues about the Federal Reserve's rate policy. As of 0443 GMT, spot gold was down 0.3% to $4,330.46 an ounce. After weak U.S. payrolls data, prices hit their highest level since June 17, on Friday. U.S. Gold Futures dropped 0.2% on Monday to $4,390.60. Gold is slightly lower after last week's NFP-inspired gains. This is more of a stabilisation than a significant shift in sentiment. I expect gold will remain above $4,300 in the short term. The...

Gold prices fell on Monday, as investors took profits following a seven-week high. Meanwhile, markets waited for new clues from U.S. inflation figures to determine the Federal Reserve's rate policy. As of 0200 GMT, spot gold was down 0.5% to $4,322.28 an ounce. After a weaker than expected?U.S. jobs data. U.S. Gold futures dropped 0.4% on Monday to $4,381.60. Gold is slightly lower as it succumbs a little to profit-taking after last week's NFP-inspired gains. This is more of a natural stabilisation than a significant shift in sentiment. I expect gold will remain above $4,300 in the near term. The...

On Thursday, copper prices reached their highest level in six months as concerns over tightening supplies outside of the United States coincided with the reduced supply of concentrates from 'Democratic Republic of Congo. Benchmark three-month Copper on the London Metal Exchange reached $14,275.50 per metric ton at 1005 GMT, up 1.2% from $14,369.5. This was the highest price since January 29, 2014, when it hit $14,527.5. Congo has banned the export of cobalt and copper concentrates as part of its efforts to "force domestic processing" and retain more value in their mineral resources. This development increased concerns about supply, and...

After a recent rally of three sessions, copper prices fell on Thursday, after reaching a new '12-week high. The price increase dampened demand from the top consumer, China, and investors were taking profits. This was offset by tightening supply outside of the United States. Benchmark?copper? on the LME dropped 0.35% at $7,060.50 per metric ton by 0700 GMT after reaching $14,178 an hour earlier, its highest level since May 13. The most active copper contract on SHFE closed at 107330 yuan (15,903.33) per ton after briefly reaching the highest price since May 2014. Yangshan Copper Premium Since July 22, a...

Due to lower Treasury yields, and the 'hopes' for progress in opening the Strait of Hormuz, gold prices rose a record high on Wednesday. By 12:50 pm, spot gold had risen 4.1% per ounce to $4242.96. At 1650 GMT, gold had reached $4,258.99 - its highest level since June 18 - and was above the 50 day moving average. It now stands at $4,160. U.S. Gold futures for delivery in December rose by 3.6%, to $4.303 per ounce. Early adopters are returning to precious metals, as the probability of rate hikes has decreased since last week. The dollar is down...

The?price of copper remained above the psychological $14,000 per metric ton mark on Wednesday. This was due to the fact that inventories at the London Metal Exchange fell as more metals were brought into the U.S. Ahead of possible tariffs on refined Copper. The benchmark three-month copper price on the LME remained unchanged at $14,066 per metric ton as of 1004 GMT. On Tuesday, the contract reached $14,117, which was its highest level since last May 14. The daily LME stock data revealed that more metal had been removed from LME-registered storage facilities in Asia. Total stocks are now at...

South 'Korean stocks closed at a record high for a week on Wednesday, as heavyweight chipmakers rallied in response to strong U.S. earnings. They also showed evidence of massive AI capital expenditure. Meanwhile, lowering oil prices eased inflation concerns. The benchmark KOSPI closed 3.8% higher, at 6,598.26. This was its highest closing since July 27. The junior Kosdaq rose 2.4%, reaching a new closing high of three weeks. Chip stocks rose by a record amount overnight, thanks to strong earnings from AI companies. SpaceX also boosted chip stocks with its massive expenditures. The Philadelphia Semiconductor Index jumped?6.6%. Samsung Electronics, a...

Copper prices rose on Wednesday, but remained below the highs of yesterday. This was due to a combination of waning inventories and improving risk sentiment. Benchmark 'three-month copper' on the London Metal Exchange was up by 0.18% to $14,091.5 per metric ton at 0700 GMT. The Shanghai Futures Exchange's most traded copper contract rose by 0.96%, to 107.340 yuan (15,908.82 dollars) per ton. Prices reached a two-month peak on Tuesday and surpassed the psychological $14,000 per tonne for the first since early June. Red metal prices have been boosted by a decline in inventories, as more material has been brought...

Prices in London fell from their 'previous day highs, but they remained stable on Wednesday. The benchmark three-month copper price on the?the?London Metal Exchange fell 0.24% to $14,033 per metric ton at 0300 GMT. The Shanghai Futures Exchange's most traded copper contract rose by 0.75%, to 107 120 yuan (about $15,877.39). Prices reached a two-month peak on Tuesday and surpassed the psychological $14,000 per tonne for the first since early June. Analysts from Chinese broker Everbright Futures stated in a report that high copper prices have begun to weigh on demand and raise questions about the strength in seasonal demand...