Mining

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...

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...

Aluminum prices fell on Friday as a stronger currency and mounting fears of an economic recession - after fading hopes for a quick 'end' to the Iran War - outweighed supply concerns that kept the metals on course for a week gain. As of 0152 GMT, the most traded aluminium at the Shanghai Futures Exchange fell 0.66% to 24,690 yuan (US$3,586.94). This week it has gained 3.2%, which is the largest weekly gain for a month. The London 'Metal Exchange (LME), which is closed for Easter on Friday and Monday, will remain closed. The dollar increased after U.S. president Donald...

Two sources familiar with Trump's plans say that the administration will reshape the steel and aluminum tariff regime. It plans to keep a tariff of 50% on?commodity imports, while reducing the duty to 15% or 25% for derivative products made from these metals, depending on the product. Details could change, and are subject to the tariff proclamation by President Donald Trump. This is expected on Thursday. The White House spokesperson didn't immediately respond to my request for comment. The Wall Street Journal was the first to report on the tariff adjustment plan. Sources told us that this change was made...

KGL Resources, an Australian miner, announced on Thursday that it had entered into a $300-million precious metals streaming agreement with a unit of Canada’s Wheaton Precious Materials for a?part of the gold and silver produced at?its Jervois Copper project. KGL shares rose 61.9%, to A$0.340. This was their best day since the middle of 2014. Stocks also reached their highest levels since May 22, 2020. KGL announced that Wheaton Precious Metals will fund up to $275m in advance, with an option of $25m for cost overruns. The upfront funding includes two $16 million installments that are available before construction starts,...

Antimony -and- gold miner Perpetua Resources announced on Tuesday that U.S. Export-Import Bank's board unanimously agreed to inform Congress about a proposed $2.7billion loan to finance the Stibnite Project -in Idaho. The proposed financing includes $2.2 billion in direct loans for?construction and exploration costs as well as corporate costs. The remainder will cover interest?and fees. The loan, along with the $714 million cash available on hand would cover the estimated cost of $2.576 billion to build the Stibnite Gold Project. The Canadian shares of the company closed at C$39.20 C$ on Tuesday. Perpetua Resources' CEO Jon Cherry stated that today's...

Rare earths developers REalloys, and U.S.?Critical?Materials Corp. have signed a?memorandum of understanding to create a?domestic?supply chain for the?key?materials? in the U.S. This is in line with Washington’s goals to reduce its reliance on China. The agreement will allow REalloys to secure up 10% of the Sheep Creek Rare Earth Deposit in Ravalli County (Montana) owned by U.S. U.S. efforts have intensified to reduce reliance?on China to supply the critical materials. This has prompted a rush by miners and processors?to?build local rare?earth?supply chains. The Sheep Creek deposit is rich in elements like dysprosium and Terbium that are used for high-performance permanent...

Australian shares closed at a three-week-high on Wednesday, with gains led by gold miners. Prices of bullion were buoyed by optimism about a possible deescalation in conflict over Iran. The benchmark S&P/ASX 200 ended the day 2.2% higher at 8,671.80, its highest level since March 11, The ASX 200 index had fallen 7.8% in march, its steepest monthly drop since June 2022. After reports that?saidU.S. Donald Trump said he was willing to stop the military campaign against Iran, even if the 'Strait of Hormuz' was largely closed. Gold prices rose, which gave Australian gold miners an extra push. The yellow...

Ivanhoe Mines announced on Tuesday that an updated independent study has lowered the near-term production estimate for the company's copper?complex in the Democratic Republic of Congo. The 'technical report', which supports the Canadian miner’s plan to increase production at the Kamoa Kakula complex has lowered the estimate of 2026 copper anode output to a range between 290,000 and 330,000 tonnes. The outlook for 2027 was also reduced to between 380,000 and 420,000 tonnes. Kamoa-Kakula is one of the highest-grade copper projects in the world. It has become a major growth source for a market with limited supply and limited new...

BRCK Group's shares soared more than 24 percent on Tuesday, after the UK-based construction materials supplier announced that it had rejected a 65-pence-per share takeover?approach by U.S. private-equity firm Atlas Holdings last week. The group claimed that its board unanimously rejected the non-binding offer of cash on 23 March, saying that it fundamentally undervalued?the?company. Atlas stated that BRCK board will only provide limited additional information. While it will'review what is shared,' it doubts such minimal details will 'allow it to confirm a proposal. LSEG data shows that the proposal valued BRCK (which distributes bricks and roofing tiles, as well as...

Analysts said that with the 'attacks' on two of the largest aluminium smelters across the Middle East, Iran targeted a'major supplier to the United States?of a metal strategic the United States does not produce nearly enough domestically. The disruption caused by the Iran War was most evident before the weekend. It was mainly due to the difficulties of shipping raw materials and aluminium through the Strait of Hormuz. This has been closed down by Tehran. Emirates Global Aluminium, however, reported that its Al Taweelah plant in Abu Dhabi (the United Arab Emirates), which produces approximately 1.5 million metric tons per...

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.,...

The South Korean Ministry of Finance announced that Koo 'Yun-cheol, Minister of Finance, met with envoys of Gulf countries on Sunday to discuss energy security and the safety of 'Korean vessels near the Strait of Hormuz. This is due to the escalating Iran conflict disrupting shipping. The ministry said that during the Friday meeting, Koo requested the ambassadors of the Gulf Cooperation Council to ensure a constant supply of oil, liquefied gas, naphtha and urea as well as other critical resources. He also asked them to ensure the safety and security for Korean vessels and crews near this vital strait....

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...

On Thursday, France announced seven offshore wind projects totaling 10 gigawatts as well as smaller onshore and solar wind tenders. The country said it would favour domestic technologies as part of its quest to achieve energy independence. Due to the political gridlock regarding financing renewables, France is struggling with high debt. The two-year delay in tendering is due to this. Roland Lescure, Finance Minister, said that the projects will help France to further wean itself off of imported oil and natural gas. The Iran War continues to disrupt cargoes that are sailing through the Strait of Hormuz. This is expected...

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...

The Congolese government announced that the Democratic Republic of Congo and China had signed an agreement to enhance cooperation in the mining sector of 'the African nation.' Global powers are jockeying for influence in this strategically significant minerals powerhouse. Congo is the largest producer of cobalt in the world and has vast reserves of lithium, copper, coltan, and other battery metals. Chinese mining companies, led by top cobalt miners CMOC, Zijin and Huayou, already dominate the sector. Beijing is Congo's largest bilateral creditor. Kinshasa is also a target for the United States and other countries looking to obtain the minerals...

Iron ore futures fell on Friday as traders unwound their?supply disruption bets following Tropical Cyclone Narelle's spared of vital port infrastructure in Western Australia. As of 0330 GMT, the most-traded contract for May iron ore on China's Dalian Commodity Exchange?traded at $813.60 ($117.60) per metric ton. The contract has still gained 0.13% this week. On the Singapore Exchange, the benchmark April Iron Ore was $107 per ton. This is a 0.32% decrease. This week, it has fallen 1%. Atilla Widnell is the managing director of Navigate Commodities. She said that iron ore futures will?likely experience a temporary corrective, because traders...