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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.

Teck Resources Q4 profit beats targets on strong coal sales, copper output

22nd February 2024 Canadian miner Teck Resources beat fourth-quarter profit estimates on Thursday, helped by an increase in steelmaking coal sales and record copper production. The company also benefited from higher copper prices due to supply shortages, which Teck said have accelerated into next quarter. Teck... 

Eramet in talks with France to offload debt from SLN nickel unit

22nd February 2024 Eramet is in "very advanced talks" with the French government to remove from its balance sheet several hundred million euros of debt related to its loss-making nickel subsidiary SLN in New Caledonia, the mining group said. The company's talks with the French authorities are part of wider... 

First Quantum announces capital restructuring to reduce debt

22nd February 2024 First Quantum Minerals on Wednesday announced a series of capital restructuring measures that would strengthen its balance sheet and cut debt, a move that will help the Canadian miner deliver on its "operational objectives." The company has lost over half its market value after Panama's surprise... 

First Quantum announces capital restructuring to reduce debt
First Quantum CEO Tristan Pascall

Vale says its Sossego copper mine operating licence has been suspended

22nd February 2024 Brazilian miner Vale said on Wednesday it had received a letter from the State of Para's environmental secretary informing it that its operating license for its Sossego mine has been suspended. The company said in a filing it was evaluating the necessary measures to re-establish the full... 

Vale says its Sossego copper mine operating licence has been suspended

Fortescue beats on first-half profit, posts strong dividend

22nd February 2024 Australia's Fortescue on Thursday posted a 41% jump in its half-year profit and declared a better-than-expected dividend, supported by strong iron-ore shipments and higher prices for its lower grades of the steel-making raw material. Imports to China, the world's largest iron-ore consumer, hit a... 

Fortescue beats on first-half profit, posts strong dividend

Lithium producer IGO beats on profit, shares up

22nd February 2024 Australia's IGO reported interim underlying profit ahead of analysts' expectation on Thursday, even as the battery metal producer reeled from falling prices of key commodities, and said it did not have plans to further trim production. Shares of IGO gained nearly 3% to A$7.27 by 23:38 GMT, while... 

Lithium producer IGO beats on profit, shares up
Ivan Vella started as IGO CEO in December

First Quantum says it is seeking $20bn over Panama mine closure order

21st February 2024 Copper miner First Quantum Minerals said on Wednesday it was seeking $20-billion through international arbitration after Panama ordered the closure of the company's mine in the central American nation. "We have provided a minimum value sought in those proceedings of $20-billion, reflecting an... 

First Quantum says it is seeking $20bn over Panama mine closure order

China's top coal producing region tells miners to curb overproduction

21st February 2024 China's top coal-producing region of Shanxi has ordered miners to curb overproduction, according to a notice this week from authorities in the northern province, sparking a rally in coking coal futures on Wednesday. Coal miners in Shanxi were asked to reduce output and carry out safety checks... 

Copper, gold to get 'largest immediate' boost from Fed easing, Goldman says

21st February 2024 Copper and gold are expected to see the largest immediate price boost in the commodities sector from potential US Federal Reserve interest rate cuts, analysts at Goldman Sachs said. "The immediate price boost from a Fed driven 100 basis point decline in U.S. 2-year rates is the largest for... 

First Quantum Minerals re-shuffles management at Zambian operation

21st February 2024 Canadian miner First Quantum Minerals is re-shuffling top-tier personnel at its Zambian operations in a bid to tackle production and safety shortfalls in the South African country, an internal memo seen by Reuters showed. The latest action comes as the company continues to deal with fallout from... 

Gecamines plans overhaul of mining JVs in world's top cobalt supplier

20th February 2024 The Democratic Republic of Congo's (DRC's) State miner is broadening a push to extract more from its copper and cobalt joint ventures, seeking to negotiate for higher stakes across the board to gain leverage in management of some of its biggest mines. Gecamines is also leveraging existing... 

Gecamines plans overhaul of mining JVs in world's top cobalt supplier

JSW Steel in talks with Australia's Whitehaven for coal mine stake

20th February 2024 India's JSW Steel is in talks with Australian miner Whitehaven Coal for a stake in its Blackwater metallurgical coal mine, a source aware of the discussions said on Tuesday. JSW Steel, India's largest steel producer by capacity, is conducting due diligence and expects to get a coking coal sample... 

JSW Steel in talks with Australia's Whitehaven for coal mine stake

Antofagasta says profit up 5% in 2023, cuts dividend

20th February 2024 Chile's Antofagasta on Tuesday reported a 5% rise in 2023 profit as copper production and prices increased, offsetting higher costs. Although the mining group reported earnings before interest, tax, depreciation, and amortisation (EBITDA) of $3.1-billion, up from $2.9-billion in 2022, it... 

Antofagasta says profit up 5% in 2023, cuts dividend
Antofagasta CEO Ivan Arriagada

India gets 40 bids for commercial coal mines

20th February 2024 ndia has received a total of 40 bids for some of the 32 commercial coal mines that were made available for auctioning in December, the government said in a statement on Monday, adding the bids would be opened on February 20. The world's second largest coal user, India began auctioning coal... 

India gets 40 bids for commercial coal mines

Goldman, hedge funds step up activity in physical uranium as prices spike

20th February 2024 Investment banks Goldman Sachs and Macquarie, as well as some hedge funds are positioning themselves to reap the benefits of a newly buoyant uranium sector as prices of the nuclear fuel ingredient spike. While many other investment banks are still avoiding uranium, Goldman and Macquarie are... 

Goldman, hedge funds step up activity in physical uranium as prices spike

Niger names new ministers of mining and energy in reshuffle

19th February 2024 Niger's military government has named new ministers of mining and energy in a government reshuffle, splitting up the previous ministry of mines, petrol and energy into three posts, it said on Monday. Mahaman Moustapha Barke Bako, previously minister of mines, petrol, and energy, will now be... 

Vale board split on future of current CEO, say sources

19th February 2024 A board vote to decide on the future of Brazilian miner Vale's CEO ended in a tie, two people familiar with the matter told Reuters, weeks after the government pressured the mining giant to replace its current CEO. In a Thursday meeting, six of the 13 board members voted to give CEO Eduardo... 

Australian lithium stocks rally on speculation of China mine closure

19th February 2024 Australian lithium stocks rallied on Monday on speculation that Chinese battery maker CATL had closed its Jianxiawo mine in China that produces the material used in electric vehicle batteries. Shares of Australia's biggest pure play lithium miner Pilbara Minerals rallied as much as 4.9% and... 

Australian lithium stocks rally on speculation of China mine closure

SSR Mining says environmental permit for Turkey mine has been revoked

19th February 2024 Canada-listed gold miner SSR Mining said late on Sunday that its environmental permit for a gold mine in eastern Turkey has been revoked. The operations at the company's Copler mine will remain suspended until further notice, the company said. 

SSR Mining says environmental permit for Turkey mine has been revoked

Rusal to add Abramovich to lawsuit against Potanin over nickel miner pact

19th February 2024 Aluminium giant Rusal obtained permission by a London court on Friday to add Russian billionaire Roman Abramovich and his firm Crispian Investments as defendants in the case against Vladimir Potanin, CEO of Nornickel. The application marks the latest flare-up in relations between two of Russia's... 

SSR Mining says eight employees detained after Turkey mine landslide

19th February 2024 Gold miner SSR Mining said on Friday that eight of its employees have been detained amid an investigation into a landslide at its mine in Turkey and that operations there remain suspended. SSR Mining on Wednesday suspended production at its Copler mine in eastern Turkey after the landslide,... 

SSR Mining says eight employees detained after Turkey mine landslide

Carbon capture tech a 'complete falsehood', says Fortescue Metals' Forrest

16th February 2024 Carbon capture is not a solution for the energy transition and political leaders need to provide real, non-greenwashed, commitments to encourage investment, Andrew Forrest, executive chairman of Fortescue Metals, said on this week. Speaking at the 50th anniversary meeting of the International... 

Carbon capture tech a 'complete falsehood', says Fortescue Metals' Forrest
Fortescue Metals chairperson Andrew Forrest

Exxon aims to make key lithium technology decision by year end

16th February 2024 Exxon Mobil plans to decide by the end of the year which lithium filtration technology it will use in Arkansas as part of its push to become one of the world's top producers of the battery metal, an executive said on Thursday. The company last fall announced its long-anticipated plan to filter... 

Indonesia, Vale agree price for divestment plan, Minister says

16th February 2024 Indonesia and Vale Base Metals have concluded negotiations and agreed in principle to a price for the portion of shares the miner will sell in its Indonesian unit INCO, the Mining Minister said on Friday. Vale Canada, a unit of Vale Base Metals, and Japan's Sumitomo Metal Mining signed an... 

Three dead as bus carrying B2Gold employees attacked in Mali

16th February 2024 B2Gold Corp on Thursday said three of its employees died after sustaining injuries in an attack on an employee transport convoy in Mali. A bus transporting B2Gold employees from the Fekola Mine to Bamako was attacked approximately 75 kilometres west of Bamako, the Canadian miner said. 

Vale to follow BHP on new provisions over dam failure, analysts say

15th February 2024 Brazilian miner Vale is expected to hike its provisions after BHP Group flagged a $3.2-billion impairment related to the failure of a dam operated by their joint venture Samarco, analysts said. The collapse of the tailings dam in the Brazilian southeastern city of Mariana in 2015 caused a giant... 

Vale to follow BHP on new provisions over dam failure, analysts say
The collapse of the tailings dam in Mariana in 2015 caused a mudslide that killed 19 people and severely polluted the Rio Doce river.

France offers loan to New Caledonia nickel firm Prony to avert collapse

15th February 2024 France has agreed to provide a €140-million loan to Prony Resources to avert the collapse of the New Caledonian nickel producer as Paris pursues negotiations to salvage the Pacific territory's loss-making nickel industry. Prony Resources is one of three nickel processors in the French territory... 

France offers loan to New Caledonia nickel firm Prony to avert collapse

Mexican mining sector balks at plan to ban open-pit mines

15th February 2024 Mexican President Andres Manuel Lopez Obrador's proposal to ban openpit mining will generate uncertainty and curtail investment for the key sector, mining industry representatives said this week. Lopez Obrador announced the proposal to prohibit new concessions for open-pit projects last week... 

Mexican mining sector balks at plan to ban open-pit mines

Indian miner Vedanta's parent sells $209m stake

15th February 2024 Vedanta Resources, the parent of Vedanta, has sold a stake worth more than 17.37-billion rupees ($209-million) in the Indian miner, exchange data showed on Thursday. Finsider International, part of billionaire Anil Agarwal-led Vedanta Resources, sold more than 65.5-million Vedanta shares at... 

TotalEnergies CEO says IMF debt rules hobbling African green energy projects

15th February 2024 Renewable energy investments in Africa are being hobbled by insufficient government loan guarantees, as the International Monetary Fund keeps a tight leash on country indebtedness, TotalEnergies CEO Patrick Pouyanne said Wednesday. Pouyanne said currently electricity projects in Africa suffer... 

TotalEnergies CEO says IMF debt rules hobbling African green energy projects
Photo by Reuters
TotalEnergies CEO Patrick Pouyanne

Woodside flags $1.2bn charge against asset bought under BHP merger

15th February 2024 Woodside Energy, Australia's largest energy firm, flagged a non-cash post tax-asset impairment of around $1.2-billion from its Shenzi oil and gas field in its 2023 fiscal earnings, sending its shares down to close at a two-month low on Thursday. Woodside had acquired the Shenzi deepwater oil and... 

Woodside flags $1.2bn charge against asset bought under BHP merger

Lithium players to gather in Arkansas as low prices pressure industry

15th February 2024 Exxon Mobil, Albemarle and others eyeing ways to tap Arkansas's vast lithium reserves will gather in Little Rock this week as the industry grapples with sagging prices for the battery metal that have spooked investors and fueled layoffs. More than 625 people - including policymakers, bankers and... 

Despite weak lithium prices, Albemarle beats on cost cuts

15th February 2024 Albemarle, the world's largest lithium producer, posted a better-than-expected adjusted quarterly profit on Wednesday as aggressive cost cuts helped offset plunging prices for the metal used to make electric vehicle batteries. The slowing pace of EV adoption globally, combined with lithium... 

Despite weak lithium prices, Albemarle beats on cost cuts

Whitehaven Coal tumbles as profit drops, dividend misses consensus

15th February 2024 Australia's Whitehaven Coal reported an 86% drop in first-half profit on Thursday and announced an interim dividend that missed market consensus, sending its shares more than 7% lower. Shares of the country's biggest independent coal miner fell as much as 7.3% to A$6.960, as of 01:03 GMT, and... 

Whitehaven Coal tumbles as profit drops, dividend misses consensus

Barrick CEO not interested in piecemeal talks over First Quantum assets

14th February 2024 Barrick Gold CEO Mark Bristow said on Wednesday he was not interested in piecemeal discussion when asked whether the company would consider bidding for any of First Quantum Minerals' assets. "I'm not interested in working on any sort of piecemeal discussion," Bristow told Reuters in an interview... 

Barrick CEO not interested in piecemeal talks over First Quantum assets
Barrick CEO Mark Bristow

Rescue workers search for missing gold miners after Turkey landslide

14th February 2024 Rescue workers battled to find nine workers trapped under earth after a landslide at a gold mine in eastern Turkey on Wednesday, the interior minister said, while state media said four people were detained as an investigation got underway. The landslide occurred on Tuesday afternoon in the Ilic... 

Rescue workers search for missing gold miners after Turkey landslide
The Copler mine

Coal India to add new mines, expand existing ones to meet higher demand, chairman says

14th February 2024 State-run Coal India plans to start operations at five new mines and expand capacity of at least 16 existing ones to address growing demand for the fuel, its chairman told Reuters on Wednesday. India has increasingly relied on coal to address record power demand in recent months, with the rise... 

IEA to launch security programme for minerals critical to energy sector

14th February 2024 The International Energy Agency (IEA) is launching a programme to secure the supply of minerals critical to energy security, as demand rises fast while manufacturing remains in the hands of a few key producers, its executive director said on Tuesday. Fatih Birol said the production of electric... 

IEA to launch security programme for minerals critical to energy sector
Photo by Bloomberg
IEA executive director Fatih Birol

Canada to accelerate critical mineral mining - Energy Minister

14th February 2024 Canada plans to boost its energy security by slashing the time it takes to develop new critical mineral mines by nearly a decade with improved permitting processes, Energy Minister Jonathan Wilkinson told Reuters on Tuesday. Ottawa is focused on six critical minerals key to making electric... 

Canada to accelerate critical mineral mining - Energy Minister
Energy Minister Jonathan Wilkinson

SSR Mining halts gold production in Turkey after landslide, shares tank

14th February 2024 Gold miner SSR Mining on Tuesday suspended production at a mine in eastern Turkey after a landslide, which left at least nine miners missing and sparked a more than 50% plunge in its Toronto-listed shares. The company said in a regulatory filing that operations were suspended as a result of a... 

SSR Mining halts gold production in Turkey after landslide, shares tank

Congo's Gecamines offers to buy some of Khazakh miner ERG's copper assets

13th February 2024 Congo State miner Gecamines said it has made a firm proposal to buy some of Eurasian Resources Group's copper and cobalt assets in the country in a bid to claw back projects owned by partners and build reserves in metals key to the green transition. The Democratic Republic of Congo's mining unit... 

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