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Reuters

Reuters is an international news organization owned by Thomson Reuters. Until 2008, the Reuters news agency formed part of an independent company, Reuters Group plc, which was also a provider of financial market data.

First Quantum seeks to speed up Peru projects after Panama debacle

23rd May 2024 Canadian miner First Quantum Minerals, which lost the right to operate its copper mine in Panama last year following protests by environmental groups and a court ruling deeming its contract void, is seeking to speed its copper projects in Peru, a company executive said on Wednesday. One of the... 

At least two companies seek Norway seabed mining permits

22nd May 2024 Two companies said on Wednesday they are seeking offshore seabed acreage on the Norwegian continental shelf where they hope to explore for minerals, in what could be the start of a controversial new mining industry. The process puts Norway on track to become the first country to start commercial... 

At least two companies seek Norway seabed mining permits

Top Anglo investor says BHP bid requires 'meaningful revision'

22nd May 2024 South African state-owned asset manager the Public Investment Corporation (PIC) said on Wednesday that it would require a "meaningful revision" of BHP Group's bid for rival miner Anglo American. Anglo rebuffed BHP's initial $39-billion all-share proposal made on April 25, dismissing it as... 

Top Anglo investor says BHP bid requires 'meaningful revision'

Chinese coal group cuts 2024 output forecast

22nd May 2024 The deputy chairman of the China Coal Transportation and Distribution Association (CCTD) told a seminar on Wednesday that annual output growth would be in a range of -1% to 1% this year, having previously forecast expansion of 1%. China, the world's biggest coal producer, mined 4.66 billion... 

India's Vedanta Aluminium turning to renewables, not adding coal capacity, CEO says

22nd May 2024 Indian metals-to-oil conglomerate Vedanta's aluminium business will no longer add coal-fired capacity, its CEO said, in the company's biggest move yet toward renewable energy. Vedanta Aluminium, the country's biggest producer of the metal, aims to increase the share of renewable energy it is... 

Congo lawyers say received new evidence on Apple's minerals supply chain

22nd May 2024 International lawyers representing the government of the Democratic Republic of Congo said on Wednesday new evidence gathered from whistleblowers indicates that Apple is sourcing minerals from conflict areas in the east of the country. In a statement, the lawyers urged Apple to answer questions... 

Congo lawyers say received new evidence on Apple's minerals supply chain

BHP-Anglo prospects flag more M&A ahead for miners

22nd May 2024 BHP's bid for Anglo American underlines the growing appetite for energy transition metals like copper from miners who must become more aggressive to secure new projects or risk missing out, investors and mining CEOs said on Wednesday. The bid by the world's biggest listed miner for Anglo is... 

BHP-Anglo prospects flag more M&A ahead for miners
The Khoemecau copper mine in Botswana

Hudbay to raise $300m in bought deal equity offering

22nd May 2024 Canadian copper miner Hudbay Minerals plans to raise $300.2-million in an equity offering to help fund near-term growth initiatives at its Copper Mountain unit among other purposes, the company said on Tuesday. Underwriters led by RBC Capital Markets and BMO Capital Markets will buy 31.6-million... 

Hudbay to raise $300m in bought deal equity offering
The Copper Mountain mine

Saudi Ma'aden has extracted lithium from seawater, CEO says

22nd May 2024 Saudi Arabian Mining Company Ma'aden has successfully extracted lithium from seawater, although not at levels that are commercially viable and its project remains at the pilot stage, its CEO told Reuters on Tuesday. "We are actually producing lithium from seawater now," Robert Wilt said, without... 

Saudi Ma'aden has extracted lithium from seawater, CEO says
Ma'aden CEO Robert Wilt

Peru's 2024 copper target is realistic, mining magnates say

22nd May 2024 The Peruvian government's 2024 copper production goal of three-million metric tons is realistic, senior industry executives said on Tuesday, as the country seeks to boost mining investments to help lift the economy out of recession. The South American country produced 2.76-million tons of copper... 

Peru's 2024 copper target is realistic, mining magnates say
Antamina, controlled by Glencore, BHP, Teck and Mitsubishi, produced 435 378 t of copper last year, and hopes to maintain that level in 2024.

Consol Energy resumes shipments from marine terminal in Baltimore

21st May 2024 Coal producer Consol Energy said on Tuesday shipments to international markets have resumed from its marine terminal in Baltimore. Coal exports from the busy US port of Baltimore were disrupted in March following the collapse of a bridge that was struck by a massive cargo ship. Consol's terminal... 

US proposes end to federal coal leasing in Wyoming Powder River Basin

21st May 2024 The Biden administration on Thursday proposed an end to future coal leasing on federal lands in Montana and Wyoming's Powder River Basin, the nation's most productive coal-producing region, in part because of the sector's emissions that worsen climate change. The two proposals from the US Bureau... 

US proposes end to federal coal leasing in Wyoming Powder River Basin

BHP shares hit 3-month high as deadline for formal Anglo bid looms

21st May 2024 Shares of BHP Group touched a three-month high on Tuesday about 36 hours ahead of a deadline to lodge a formal bid for rival miner Anglo American, which last week rejected a sweetened $43-billion takeover proposal. The world's largest listed miner's shares are benefiting from good news including... 

Dubai mining firm plans to start Argentina lithium production next year

21st May 2024 Dubai-based United Mining Projects Corporation (UMPC) plans to begin producing battery-grade lithium in Argentina next year, aiming to deliver 5 000 metric tons in 2027 and double that in 2028, CEO Bradley Pielsticker said in an interview. Argentina is the world's fourth-largest lithium... 

Copper's record run at risk as US shipments calm speculator frenzy

20th May 2024 Copper's lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated on the shipment of material to cover exposed short positions in the US Comex futures market rather than tepid demand in top consumer China. Prices on the CME Group's Comex hit a record... 

Zimbabwe lithium miners table refinery plans under govt pressure

20th May 2024 Four lithium mining companies have tabled plans to produce battery-grade lithium in Zimbabwe, a government official said on Monday. Zimbabwe, Africa's top producer of lithium, which is used in electric vehicle batteries and to store renewable energy, is prodding miners to refine the mineral... 

Zimbabwe lithium miners table refinery plans under govt pressure

Australia gas producers endorse govt strategy, warn of shortages this decade

20th May 2024 Australia's energy producers endorsed a government strategy to boost natural gas development, but warned the country still faces new gas supply shortfalls this decade while markets remain volatile due to global conflicts. Meg O'Neill, chair of the Australian Energy Producers, said the group... 

China's iron-ore supply to rise by up to 10Mt in 2024, steel association says

20th May 2024 China's domestic iron-ore concentrate output in 2024 will rise between 5-million and 10-million metric tons from the year before, its State-backed steel association said on Friday. "The key domestic iron-ore projects have made noticeable progress thanks to efforts from various parties," the... 

China's iron-ore supply to rise by up to 10Mt in 2024, steel association says

US lukewarm on G7 Russian diamond ban after industry backlash

19th May 2024  The United States is re-evaluating the strictest elements of a ban on Russian diamonds from the Group of Seven major democracies, after opposition from African countries, Indian gem polishers and New York jewellers, seven sources said. The sanctions package, agreed in December and including a... 

US lukewarm on G7 Russian diamond ban after industry backlash

China's April coal output falls to lowest level since Oct 2022

17th May 2024 China's coal production in April fell to its lowest level since October 2022, statistics bureau data and Reuters records showed on Friday, as continuing mine safety inspections curbed output. Output was 371.67-million metric tons last month, down 2.9% from a year earlier, according to the... 

BHP needs to bid about £32 a share for Anglo, JPMorgan says

17th May 2024 HP Group would need to boost its latest offer around 30% to reflect fair value for Anglo American and its key copper assets, JPMorgan analysts said in a note. They raised their price target for London-listed Anglo to £27.75 a share after reexamining the value of its copper assets, and said the... 

BHP needs to bid about £32 a share for Anglo, JPMorgan says

Hot commodity silver sets pace as demand and deficit drive rally

17th May 2024 Gold’s record-setting rally may have captured the headlines this year, but it’s silver that’s running harder and faster as the less glamorous metal benefits from robust financial and industrial demand. Silver has soared by almost a quarter in 2024, outpacing gold and making it one of the year’s... 

Hot commodity silver sets pace as demand and deficit drive rally

Muddy Waters will not compensate its nominees on Canadian miner Mayfair as shareholder vote looms

17th May 2024 hort seller Muddy Waters Capital said on Thursday that none of its newly proposed directors for Canadian miner Mayfair Gold's board will receive any remuneration, in contrast to what it called the "inappropriate compensation" earned by the company's existing directors. Muddy Waters is seeking to... 

Muddy Waters will not compensate its nominees on Canadian miner Mayfair as shareholder vote looms

Chile to seek bidders for preferential pricing on lithium by July

17th May 2024 Chile will open calls by the end of July for lithium component producers to obtain preferential pricing on lithiumproduced by Albemarle through 2043, government officials said on Thursday. Albemarle and SQM are the two current lithium operators in Chile, and their contracts stipulate that a part... 

Chile to seek bidders for preferential pricing on lithium by July

Anglo American has sought fertiliser partners for months, says CEO

17th May 2024 Anglo American has been looking for partners for its fertiliser project in North Yorkshire for around six months, CE Duncan Wanblad told Reuters, reiterating the business will be one of three pillars of the revamped miner, even as work there stalls. The London-listed miner outlined a radical plan... 

Anglo American has sought fertiliser partners for months, says CEO

Chile's Cochilco raises 2024, 2025 copper price estimates

17th May 2024 The Chilean Copper Commission (Cochilco) on Thursday raised its average copper price estimates for both this year and next. Cochilco now sees average copper prices this year at $4.30/lb, from $3.85/lb before. For next year, Cochilco estimates average copper prices around $4.25/lb, up from... 

Chile's Cochilco raises 2024, 2025 copper price estimates

ANC walks political tightrope over coal plant shutdowns

16th May 2024 In a ward where South Africa's governing African National Congress won handily in local elections three years ago, party campaign worker Poppy Vilakazi has been getting a decidedly frosty reception lately. "Mostly they are angry," she told Reuters, speaking in Komati, a village in the shadow of a... 

ANC walks political tightrope over coal plant shutdowns
ANC leader Cyril Ramaphosa

Chile gives Albemarle option to boost lithium quota by 240 000 metric tons

16th May 2024 Chile's economic development agency CORFO on Wednesday said it reached an agreement with Albemarle to establish an option for the US company to increase its production quota by 240 000 metric tons of lithium metal equivalent (LME). The increase would raise Albermarle's production quota by close... 

Chile gives Albemarle option to boost lithium quota by 240 000 metric tons

Anglo unveils hiring freeze, document shows, after rejecting $43bn takeover bid

16th May 2024 Anglo American has suspended hiring globally, it said on Thursday, as it gets plans under way to simplify itself and build value – and avert a $43-billion takeover bid by Australia's BHP. Anglo laid out plans on Tuesday to refocus its company on energy transition metal copper while spinning out... 

Anglo unveils hiring freeze, document shows, after rejecting $43bn takeover bid
The recruitment of new non site-based permanent employees and contractors has been stopped.

Brazil prosecutors again seek to suspend Canadian potash mine in the Amazon

16th May 2024 Brazilian federal prosecutors have filed a lawsuit to suspend a license given to a Canadian firm to install what would be Latin America's largest fertilizer mine in the Amazon rainforest, their office said. The planned mine by Brazil Potash overlaps with ancestral lands of the Mura Indigenous... 

Wildfire has moved closer to Canadian oil city, says local authority

15th May 2024 A large wildfire threatening the major Canadian oil sands city of Fort McMurray moved closer overnight and weather conditions were unfavorable, the local authority said on Wednesday. The fire was just 5.5 km away from the city's landfill, compared with 7.5 km late on Tuesday, the Regional... 

Wildfire has moved closer to Canadian oil city, says local authority

Trafigura, IXM caught in Comex copper short squeeze as prices hit record

15th May 2024 Commodity traders Trafigura and IXM are seeking physical copper to cover large bearish positions on the CME, where US copper prices surged to record highs on Wednesday, five sources with direct knowledge of the situation said. A short squeeze occurs when parties betting on lower prices are... 

Codelco working to meet Q2 production goal, CEO says

15th May 2024 Chilean mining giant Codelco is still working to meet its estimated output for the second quarter, CEO Ruben Alvarado told Reuters, as the State-run copper miner is pushing to boost production up from its lowest in 25 years. Alvarado said that a recent rise in copper prices is a positive sign,... 

Indigenous group to take fight against Arizona copper mine to Supreme Court

15th May 2024 A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the US Supreme Court, after a federal appeals court refused to reconsider whether the US government may have improperly transferred land to the developer. The group said they would... 

Indigenous group to take fight against Arizona copper mine to Supreme Court

Santos to sack 200 employees as project approvals slow

15th May 2024 Santos, Australia's No. 2 independent gas producer, on Wednesday said it will remove around 200 roles in Western Australia, Northern Territory, and Timor-Leste unit due to sluggish project approvals and delayed growth activities. Santos conducted a review of certain business units over the... 

Santos to sack 200 employees as project approvals slow

Brazil states ask court to double what Vale, BHP should pay for dam burst

15th May 2024 Two Brazilian states have asked a court to more than double the amount that miners Vale and BHP, plus a jointly owned tie-up, must pay in damages for a 2015 deadly tailings dam failure, according to a legal document seen by Reuters on Tuesday. In January, a Brazilian federal judge ruled that... 

Brazil states ask court to double what Vale, BHP should pay for dam burst
Photo by Reuters
The 2015 dam collapse aftermath

De Beers IPO considered amid break-up plans, sources say

15th May 2024 Anglo American is exploring an initial public offering of its diamond business De Beers, two people familiar with the matter told Reuters on Tuesday, with one flagging London as the preferred venue. The potential listing was the default option, the second person said, although the process is at... 

De Beers IPO considered amid break-up plans, sources say
Anglo moved into De Beers’ London offices when the lease on its own site expired.

Teck Resources sees $3bn/y Ebtida if copper stays around current levels

15th May 2024 Teck Resources expects to generate annual earnings before interest, depreciation, tax and amortisation (Ebtida) of $3 billion if copper prices hit $5/lb, CEO Jonathan Price said on Tuesday. For Vancouver, Canada-based Teck, copper is the main driver of profitability after it sold its... 

Teck Resources sees $3bn/y Ebtida if copper stays around current levels
Teck Resources CEO Jonathan Price

Two dead, one missing after tremor damages Polish coal mine

14th May 2024 Two miners were killed in southern Poland and one remained trapped underground after an overnight tremor caused a partial collapse in a section of the Myslowice-Wesola mine, the mine's owner said on Tuesday. The tremor occurred 870 m underground. 

Australia to invest A$22.7bn in renewable energy, critical minerals

14th May 2024 The Australian government on Tuesday announced a A$22.7-billion package to boost domestic manufacturing and renewable energy as the country seeks to reduce its reliance on foreign suppliers for key technologies. Details of the Future Made in Australia package announced in the government's annual... 

Australia to invest A$22.7bn in renewable energy, critical minerals
Treasurer Jim Chalmers

Tin prices may see further support from supply risks, rate cuts, analysts say

14th May 2024 Tin prices, which have rallied in recent months to near two-year highs, could be bolstered further by supply disruptions, ongoing geopolitical conflicts, fund inflows in the event of interest rate cuts and stabilising demand, analysts say. Benchmark three-month tin on the London Metal Exchange... 

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