Base & Precious Metals News

Nov 23 - Australia's mining investment embraces gold, battery minerals
Gold and battery minerals are drawing fresh investment interest in Australia, adding to expanding plans for new natural gas, iron ore and coal projects, an Australian government report said on Monday. Over the 12 months to end-October 2020, the number of major resources and energy development projects rose by 19% to 335, while the value of projects in the investment pipeline rose by 4% to A$334 billion ($245 billion), the Department of Industry report said.

Nov 23 - Trafigura signs supply deal with Congo's state cobalt buyer
Trafigura on Monday agreed to a supply deal with Congo's state cobalt buyer under which the international trading house will finance the creation of controlled artisanal mining zones, buying centres and logistics to trace supply. Congo's Entreprise Generale du Cobalt (EGC) and Trafigura would also create a technical committee along with non-governmental organisation Pact to oversee responsible sourcing, the companies said in a joint statement on Monday.

Nov 23 - Zinc soars on supply squeeze even as stealth stocks build: Home
Zinc has emerged as the unlikely star performer in the London Metal Exchange (LME) base metals suite. LME three-month zinc hit a fresh 18-month high of $2,793 per tonne on Friday and is even outperforming high-flying copper.

Nov 23 - Australia's commodity investment surges, gold and battery metals lead: Russell
For the first year in seven the value of commodity projects being undertaken in Australia increased, as the natural resources sector shrugged off the economic hit from the novel coronavirus pandemic. Figures released on Monday by the government showed a 30% jump in what it terms "committed" resource and energy projects to A$39 billion ($28.5 billion) in the 12 months to the end of October this year.

Nov 23 - Workers at Lundin's Candelaria mine in Chile accept new agreement
One of the unions on strike at Chile's Candelaria copper mine accepted a 30-month collective agreement from Lundin Mining Corp on Friday, the company and the union said. The Candelaria AOS Union, representing about 550 workers at Lundin's Candelaria operations in Chile, accepted the last formal offer, presented by Candelaria on Nov. 12, the company said.

Nov 23 - Search for last miner trapped at S.Africa's Gamsberg goes on, mining halted
Rescuers were searching for the last of 10 miners trapped at South Africa's Gamsberg zinc mine on Saturday and mining activity remains suspended, owner Vedanta Zinc International (VZI) said. "Mining-related activities at Gamsberg Mine remain suspended until further notice," the company said, adding that it has called in technical experts to conduct the rescue operation. 

Nov 23 - Speculators raise bullish bets on COMEX gold, silver - CFTC
Hedge funds and money managers upped their bullish positions in COMEX gold and silver contracts in the week to Nov. 17, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also reduced their net long positions in copper futures and options, the CFTC data showed.

Nov 23 - De Beers Namibian diamond venture gets tax break to extend operations
Namdeb, a joint venture between the Namibian government and Anglo American's diamond unit De Beers Group, has been granted a holiday on royalty payments, the country's mining ministry said on Friday in bid to save jobs in the shrinking sector. Diamonds have been mined in Namibia since 1908, but land-based operations could end in 2023, as Namdeb says it no longer made economic sense under the current tax regime.

Nov 20 - Copper smelting in October jumps in Europe, slips in China
Copper smelting activity climbed in Europe and South America in October while slipping in top producer China, data from satellite surveillance of copper plants showed. The overall level of global copper processing was little changed, masking wide regional differences likely due to different stages of pandemic lockdowns, satellite service SAVANT and broker Marex Spectron said in a joint statement on Thursday. 

Nov 20 - Chile's SQM bets on higher sales, demand for lithium, announces new expansion
Chilean miner SQM announced on Thursday plans for a fresh expansion of its Chile lithium operations by 2023, predicting its sales of the electric vehicle battery metal would continue their growth through 2021 even as profits flounder. SQM said it had sold 17,700 tonnes of lithium in the third quarter, up 56% from the same period the previous year despite the global downturn and coronavirus pandemic. 

Nov 20 - East-to-west flow of gold slows as Swiss exports to India rebound
The flow of gold from east to west triggered by the coronavirus pandemic eased in October as Switzerland's imports of bullion from Asia fell and it exported more to India than in any month since May 2019, Swiss customs data showed on Thursday. Switzerland's exports of gold to China remained at rock bottom, however, suggesting that demand in Asia is far from a full recovery. 

Nov 20 - Global nickel market surplus narrows in Sept - INSG
The global nickel market surplus narrowed to 3,500 tonnes in September from 10,000 tonnes the previous month, the International Nickel Study Group (INSG) said on Thursday. For the first nine months of this year there was a global surplus of 108,900 tonnes compared with a deficit of 37,500 tonnes in the same period last year, Lisbon-based INSG added.

Nov 20 - Poland's KGHM sees output continuing despite mine closure risk due to COVID
Poland's KGHM, one of the world's biggest copper and silver producers, said on Thursday while there was a risk of closing some mines or smelters due to COVID-19 infections among workers, overall production would continue. KGHM owns mines and smelters in Poland, as well as mines in Chile, Canada and the United States. 

Nov 20 - Zambia seeks 'win-win' deal with bondholders after default, says minister
Zambia is seeking a compromise solution with bondholders and does not expect them to seize its mining assets even though it defaulted on part of its debt last week, Mines Minister Richard Musukwa said on Thursday. He also said Zambia had no plans to sell its shares in mining companies to raise cash after the country, which is Africa's no.2 copper producer, failed to pay the $42.5 million coupon on its Eurobond debt on Friday. 

Nov 20 - Egypt awards 11 companies concessions in mining bid round
Egypt has awarded 82 exploration blocks to 11 companies in an international bid round for mineral exploration, Petroleum Minister Tarek El Molla said on Thursday. Among the companies awarded concessions were Australia's Centamin, Canadian companies B2Gold, Barrick Gold, Lotus Gold, Red Sea resources and Britain's AKH Gold.

Nov 19 - State purchases drive up cobalt metal prices in China
Purchases for state stockpiles are driving up prices of cobalt metal in China, creating a hefty premium over the rest of the world and encouraging local producers to add large amounts of production capacity. Cobalt prices in China above $18 per lb are up 15% since talk of buying by the National Food and Strategic Reserves Administration started in July. 

Nov 19 - China's new international copper futures slip in debut
China's much anticipated international bonded copper futures contract fell in its trading debut on Thursday, slipping over 1%. The March contract on the Shanghai International Energy Exchange (INE) last traded 1.4% lower at 47,010 yuan ($7,159.17) per tonne, down from its listing price of 47,680 yuan. 

Nov 19 - Thyssenkrupp cuts 5,000 more jobs as CEO warns of more pain
Ailing conglomerate Thyssenkrupp said on Thursday it would need to cut a further 5,000 jobs to ease the impact of the coronavirus crisis on its businesses. The company, whose steelmaking roots go back more than 200 years, is struggling to emerge from the COVID-19 pandemic that hit it during a cool down of the global economy.

Nov 19 - COVID-19 mine disruption causes copper concentrates crunch: Andy Home
The copper market has been on a tear over the last couple of weeks, with the London price hitting a 29-month high on Monday. At a current $7,120 per tonne, London Metal Exchange three-month copper is now up by 15% on the start of 2020 and by 63% from the March lows. 

Nov 19 - Hidden zinc stocks in Spain fuel shortages, price rally
A pile-up of hidden zinc stocks in Spain has helped create shortages in top consumer China and bolstered a price rally, despite expectations of surpluses this year for the metal used to galvanise steel. Stocks not held in exchange warehouses have climbed in several countries, but the stand out is Spain where a major smelting operation is located, analysts and traders said. 

Nov 19 - Pentagon awards $13 million in rare earths funding to U.S. projects
The U.S. Department of Defense has awarded three rare earth-related grants worth roughly $13 million to help boost domestic production of the specialized minerals used to make weapons, electronics and a range of other goods. China is the world's largest producer of these minerals and has threatened to stop their export to the United States. 

Nov 19 - Brazilian state says Vale's $4 bln dam offer is too low
Brazilian miner Vale SA's proposed settlement of around 21 billion reais ($3.97 billion) following a deadly 2019 dam disaster is too low, the head of the state of Minas Gerais, where the accident happened, said. After a meeting between authorities and the company about the Brumadinho dam burst in January 2019 that left 270 people dead, the state's Secretary General Mateus Simoes told journalists the state opposed both the amount and some of the terms offered by Vale. 

Nov 19 - S.Africa's Gamsberg zinc mine shut during search for missing miners, Vedanta says
Gamsberg zinc mine in South Africa has been shuttered until further notice while a search continues for two workers still missing after an accident, the owner Vedanta Zinc International (VZI) said on Wednesday. Eight workers have already been rescued after Tuesday's accident, the unit of Vedanta Ltd said.

Nov 19 - China's Nanjing Iron & Steel to invest in coke project in Indonesia
China's Nanjing Iron & Steel Co Ltd said on Wednesday it would invest in a coke plant in Indonesia to sidestep tougher Chinese environmental rules and to build new capacity closer to major coking coal exporter Australia. The plant will have capacity for 2.6 million tonnes a year, the company said in a filing to the Shanghai Stock Exchange.

Nov 18 - Platinum's supply deficit set to quadruple as demand rebounds
The World Platinum Investment Council (WPIC) said on Wednesday a shortfall of metal this year would be almost four times bigger than it previously forecast as supply shrinks by more than expected and demand rebounds faster from the pandemic hit. In its latest quarterly report, the WPIC said the roughly 8 million-ounce a year market would be undersupplied by 1.2 million ounces this year.

Nov 18 - Investors rescue silver demand as ETF hoard exceeds a billion ounces
Investment in silver coins and bars will hit a five-year high this year and exchange-traded funds will expand their hoard by 350 million ounces to a record 1.1 billion ounces, an industry report said on Tuesday. Demand for silver for jewellery, silverware and industries such as solar panels and photography will be sharply lower after the coronavirus pandemic roiled the global economy, the Silver Institute and consultants Metals Focus said.

Nov 18 - Lithium giants Albemarle and SQM battle over access to Atacama water study
U.S.-based Albemarle Corp, the world's largest lithium producer, has accused its top rival, Chilean miner SQM, and local regulators of seeking to keep secret a coveted report about the environmental impact of lithium mining in Chile's Salar de Atacama, according to a filing made by its lawyers. Chilean regulator Corfo, which oversees lithium mining in the Atacama, in August denied a request from Albemarle to review the long-awaited report, according to filings obtained by Reuters under Chile's Transparency Act. In the filings, Corfo told Albemarle it was unable to provide the report because it was still under review and contained confidential business information.

Nov 18 - Australian institutional investor sees heritage risk across mining industry
Australian superannuation fund HESTA said on Tuesday that Rio Tinto's destruction of ancient sacred rockshelters in Western Australia this year has highlighted structural risk around heritage management practices in the mining sector. The fund is calling for an independent review of the partnership agreements between mining companies and traditional owners to better manage risk, said Mary Delahunty, HESTA's head of impact, during a parliamentary inquiry into the destruction of the Juukan Gorge rock shelters in May. 

Nov 18 - Workers at Lundin's Candelaria mine in Chile reject new contract offer
One of the unions on strike at Chile's Candelaria copper mine, owned by Canada's Lundin Mining Corp, rejected a contract offer from the company on Tuesday, confirming the work stoppage would continue. The Candelaria Union rejected the proposal by a vote of 366 to 159, said union head Evelyn Walter.

Nov 18 - Shanghai exchange to lower trading limits, requirements for nickel, steel futures
Shanghai Futures Exchange (ShFE) will lower margin requirement for its nickel futures contract to 8% from 10% from the settlement on Nov. 20, it said on Tuesday. The trading limit of nickel futures will be reduced to 6% from 8%, according to ShFE. 

Nov 18 - Mining magnate Gertler expects to recoup Congo royalties investment by 2026
A company owned by Israeli mining magnate Dan Gertler expects to recoup by 2026 the $83 million it spent to acquire royalties from a copper and cobalt project in southeastern Democratic Republic of Congo, Gertler's spokesman said on Tuesday. Congo’s state mining company, Gecamines, sold its right to 2.5% of annual royalties from Eurasian Resources Group's (ERG) Metalkol project to Gertler's Multree, a company then registered in the British Virgin Islands, in June 2017. 

Nov 18 - GFG aluminium business aims to nearly double British output by 2024
Alvance, the aluminium business of British commodities tycoon Sanjeev Gupta, plans to nearly double production to 80,000 tonnes a year by 2024 at its UK operations in Scotland, it said on Tuesday. The company aims to invest 94 million pounds in a new recycling and casting facility in Fort William, Scotland that will increase annual production from the current level of just over 40,000 tonnes, a statement said.

Nov 18 - Mali gold mine workers to go on 72-hour strike
The main union in Mali, which represents workers at most of the country's gold mines, said its members would launch a 72-hour strike beginning at midnight on Tuesday to push for better pay and bonuses. The National Union of Malian Workers (UNTM) says it represents 80% of unionised workers in the country, including miners, teachers and health workers. 

Nov 18 - Brazil's BNDES raises 2.5 billion reais in Vale shares sale
Brazil's state-controlled development bank BNDES said on Tuesday its investment arm BNDESPar sold 40 million voting shares of miner Vale SA for 2.5 billion reais ($462.49 million). BNDES said the sale was made through a block trade operation on Monday at Sao Paulo's stock exchange. BNDES has reduced its stake in Vale to 2.4% of the miner's voting shares, it said.

Nov 17 - China's new copper futures add another card to global yuan deck 
China will roll out a new copper futures contract this week that will be open to foreign traders, in a push to boost yuan adoption and wrest some pricing power away from the established industry benchmark in London. The addition of copper, the world's most-traded base metal, to a growing suite of international commodity futures will increase China's appeal to the global trading community, analysts say, even if limits on yuan convertibility remain a barrier to wider adoption. 

Nov 17 - China stainless to bear brunt of South Africa's chrome ore export tax 
China's stainless steel mills face higher costs for essential ingredient ferrochrome if, as expected, South Africa goes ahead with proposals to impose taxes on exports of chrome ore to help protect its smelting industry. South Africa's government is seeking ways to support its ferrochrome smelters, which industry sources say employ 68,000 people and contribute 13.8 billion rand ($898.27 million) to state-owned power utility Eskom's revenue. 

Nov 17 - Tokyo Steel to raise product prices for December by up to 3.3% 
Tokyo Steel Manufacturing Co Ltd, Japan's top electric-arc furnace steelmaker, said it would raise prices in December for all its steel products by 2,000 yen ($19) a tonne, or 2.2% to 3.3%, to meet tighter overseas markets and firmer demand at home. The company kept prices steady this month for all its steel products, including its main H-shaped beams. 

Nov 17 - Speculators cut bullish bets on COMEX gold, silver - CFTC 
Hedge funds and money managers decreased their bullish positions in COMEX gold and silver contracts in the week to Nov. 10, the U.S. Commodity Futures Trading Commission (CFTC) said on Monday. The speculators also raised their net long positions in copper futures and options, the CFTC data showed.

Nov 17 - Mining magnate Gertler says he paid $83 million for royalties from Congo's Metalkol 
Israeli mining magnate Dan Gertler said on Monday he was behind an $83 million purchase of royalties for the Metalkol copper and cobalt project in southeast Democratic Republic of Congo from the state mining company Gecamines in 2017. Gecamines sold its right to 2.5% of the annual royalties from the Metalkol project to Multree, a company registered in the British Virgin Islands, in June 2017, according to a contract published on the Extractive Industries Transparency Initiative (EITI) website on Oct 30.

Nov 17 - Petra Diamonds reports annual net loss, revenue fall as pandemic bites 
Petra Diamonds on Tuesday reported a 36% fall in revenue and a net loss of $223 million as the pandemic hit production, sales and prices. Petra, which operates three diamond mines in South Africa and one in Tanzania, kept production guidance for 2021 on hold due to ongoing uncertainty, noting the risks to production if further COVID-19 restrictions are required.

Nov 17 - Workers at Candelaria copper mine in Chile 'divided' over contract sweetener -union chief 
A vote on a new contract for workers at Candelaria copper mine in Chile, operated by Lundin Mining Corp, will be fiercely contested amid ongoing divisions about whether to continue a four-week-long strike, a union chief said on Monday. At the end of last week, the company submitted an improved proposal to the Candelaria union, whose members began the legal walkout on Oct. 20, prompting the company to suspend operations.

Nov 16 - China Oct aluminium, 10 nonferrous metal output hits monthly record high 
China's monthly aluminium output in October rose 9.7% from a year earlier to a record high, official data showed on Monday, as new smelting capacity ramped up to cash in on strong prices. The world's top aluminium-producing country churned out 3.20 million tonnes of the primary metal last month, which was up 1.2% from 3.162 million tonnes in September, the National Bureau of Statistics said.  

Nov 16 - Gold miner Endeavour acquires Teranga, aims for FTSE 100 listing 
West Africa-focused gold miners Endeavour Mining and Teranga Gold have agreed an all-stock deal to create a top 10 gold producer, the companies said on Monday, a week after announcing they were in talks. Endeavour will acquire all of Teranga's shares and existing shareholders will end up with 66% of the combined entity, with Teranga shareholders holding the remaining 34%.

Nov 16 - SSAB eyes Tata Steel's Dutch assets as European consolidation picks up 
Swedish steelmaker SSAB is in talks with Tata Steel about potentially buying the Indian group's Dutch steel mill in IJmuiden and related assets, it said on Friday. "SSAB has participated in several different discussions concerning consolidations in the European steel industry," the company said. "The discussions with Tata are ongoing but no decisions have been made."

Nov 16 - China Oct crude steel output slips amid environmental restrictions, cooling demand 
China's crude steel output fell for the second straight month in October, slipping 0.4% from a month earlier, official data showed on Monday, as production was curtailed by environmental restrictions and an easing demand outlook for winter. The world's top steelmaker produced 92.2 million tonnes of crude steel last month, the National Bureau of Statistics (NBS) said, compared with 92.56 million tonnes in September. Though slightly down from the previous month, the number showed a 13% jump from October 2019. 

Nov 16 - Australian coal exports to China slump, but prices are mixed: Russell 
China's unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in November. But something odd is happening with prices. China imports two main types of coal from Australia, coking coal used to make steel and thermal coal, used predominantly to generate power, but which can also be used in industrial processes such as cement and ceramics.

Nov 16 - Thyssenkrupp considers carve-out of ailing steel unit - minister 
Thyssenkrupp is considering carving out its steel division to seek state aid from Germany's economic stabilisation fund in a bid to rescue the ailing business, a senior policymaker said on Friday. Andreas Pinkwart, economy minister of North Rhine-Westphalia (NRW), Germany's most populous state and where Thyssenkrupp is based, said talks with the conglomerate over state aid were ongoing and that various options were being discussed.

Nov 16 - Indonesia to woo Tesla investment in push to become battery superpower 
Indonesian President Joko Widodo said he will send a high-level team to meet with top executives of U.S. automaker Tesla as the Southeast Asian country aims to become the world's biggest producer of electric vehicle batteries. The president, known by his popular name Jokowi, told Reuters in an interview on Friday the trip will be part of Indonesia's promotion of its new, so-called "Omnibus" Job Creation law, which simplifies doing business in Indonesia.

Nov 16 - China's Pingdingshan Tianan Coal Mining to raise 2021 coking coal output to new peak 
China's Pingdingshan Tianan Coal Mining Co Ltd aims to raise its coking coal output to a new peak of 13 million tonnes in 2021 fuelled by rising coke prices, the company said on Monday.  The company has been negotiating and signing long-term framework agreements with Baoshan Iron & Steel Co Ltd and Valin Group's unit Xiangtan Iron & Steel Co Ltd for next year, it said in response to a question on an interactive investor platform. 

Nov 16 - BHP's Spence mine in Chile strikes early labor deal with supervisors union 
Chile's Spence copper mine, owned by BHP Group Ltd, said on Saturday it had struck an early deal with its union of supervisors on a contract that will run until November 2023.  The company did not disclose details of the deal.

Nov 16 - Candelaria copper mine in Chile sweetens offer to striking union 
Chile´s Candelaria copper mine, owned by Canada's Lundin Mining Corp, said on Friday it had offered an improved contract deal to one of two unions on strike at the deposit in a bid to re-start production. The mine shut operations on Oct. 20 after members of the Candelaria Union walked off the job, joining the company's Mine Union, which had begun a strike 12 days before. 

Nov 16 - Vale, Chinese port sign $651 mln deal on iron ore storage, processing 
Brazil's Vale and China's Ningbo Zhoushan Port have signed a deal to invest around 4.3 billion yuan ($650.6 million) in iron ore storage and processing facilities in Zhejiang, a local government statement said on Friday. The move follows the two firms' inauguration of a grinding hub at the port in eastern China in August and further boosts Vale's presence in the top global consumer of the steelmaking raw material.

Nov 16 - Ganfeng Lithium increases stake in Bacanora's Sonora project to 50% 
China's Ganfeng Lithium Co Ltd on Friday exercised its option to increase its stake in Bacanora Lithium's Sonora project in Mexico from 22.5% to 50%, as companies around the world bet on surging demand for the battery metal. Ganfeng, which has already agreed to buy all the lithium Sonora produces, will lead the engineering, procurement and construction and will have two directors on the project's board - with the remaining two appointed by Bacanora.

Nov 16 - New Botswana copper mine to begin production in 2021 
Botswana's newest and only operational copper mine is expected to start production in 2021 with annual output building to 60,000 tonnes of concentrate, its executive director said. Situated in the Kalahari Copper belt, which stretches from north east Botswana to western Namibia, the Khoemacau mine will be the only operational one in the diamond-rich country after two other copper mines were placed under liquidation.

Nov 13 - Chile vows to take lithium giant Albemarle to arbitration over royalty spat 
Chilean regulators have accused Albemarle, the world's largest lithium producer, of underpaying royalties by $11 million and vowed to take the U.S.-based miner to international arbitration over what they called a breach of its contract with the government. Corfo, which oversees Albemarle's contract for lithium mining in Chile's Salar de Atacama, told lawmakers the miner had misinterpreted the part of their agreement that outlines the basis for royalty payments, favoring a too-low commission on its sales.

Nov 13 - Global zinc concentrate market to flip to surplus in 2021, says Antaike 
The global zinc concentrate market is forecast to switch back to a surplus in 2021, after a short-lived deficit this year, Chinese metals research house Antaike said on Thursday. Rising production could return the world's zinc concentrate market to a surplus of 82,000 tonnes in 2021, after coronavirus-driven supply disruptions kept the market at an estimated deficit of 151,000 tonnes this year, said Xia Cong, the manager of the lead and zinc department at Antaike.

Nov 13 - Aluminium powers higher as surplus stays out of sight: Andy Home 
London Metal Exchange (LME) aluminium has this week hit its highest level since March 2019. The three-month price is sitting just below Monday's high print of $1,935 at a current $1,925 per tonne. Which is not bad for a market that is widely believed to be heading for its largest supply surplus since the global financial crisis of 2009. 

Nov 13 - Codelco says old Chuqui mine's output wins it a stay of execution 
Chilean state-owned Codelco, the world's largest copper producer, said on Thursday it would continue to dig another year at its century-old open cast Chuquicamata mine which has had good yields. Codelco had originally planned to shut the mine in December to focus on its new underground operation, which has already started up.

Nov 13 - U.S. miners tout environmental credentials in wake of Biden victory 
U.S. mining companies are moving fast to align themselves with Joe Biden's climate change agenda, saying the lithium, copper and other metals they produce can help the president-elect achieve his ambitious goals to slash carbon emissions and electrify the nation's automobiles. With Biden proposing to hasten the demise of coal and other fossil fuels with his $2 trillion climate plan, miners of so-called strategic metals are hoping Biden's team sees them as partners, not foes.

Nov 13 - Gold miner Newmont targets net-zero emissions by 2050 
Top gold producer Newmont Corp on Thursday pledged to achieve net-zero carbon emissions by 2050, as investors and policymakers call for climate change initiatives and clean energy. There has been increasing pressure from investors and environmental groups on the mining industry to tackle issues such as climate change and pollution.

Nov 13 - Fortescue pressured govt to let it damage ancient rock shelters - Aboriginal group 
Australia's Fortescue Metals Group pressured a state government body to fast track its application to damage two ancient rock shelters as part of an iron ore mine expansion in Western Australia, documents showed on Thursday. The Wintawari Guruma, on whose ancestral lands Fortescue operates, said that the miner had threatened legal action against a government panel tasked with protecting Aboriginal heritage, rather than talk to them about site preservation, in a submission to a parliamentary inquiry.

Nov 13 - Seeking to reopen PNG gold mine, Barrick CEO meets landowners 
Barrick Gold Corp boss Mark Bristow met Papua New Guinea landowners in the capital of Port Moresby on Thursday to discuss royalty arrangements, the landowners said, as the miner seeks to negotiate a reopening of the remote Porgera gold mine. The Canadian miner's lease over the highlands mine, which it operated with China's Zijin Mining, lapsed when Prime Minister James Marape refused to extend it in April.

Nov 13 - Pakistan in talks with Tethyan Copper to resolve $5.8 bln dispute - sources 
Pakistan is in talks with Tethyan Copper to settle a $5.8 billion dispute around the Reko Diq copper project, two senior Pakistani officials told Reuters on Thursday. The World Bank's International Centre for Settlement of Investment Disputes (ICSID) last year ordered Pakistan to pay damages of $5.84 billion to Tethyan Copper - a joint venture between Chile's Antofagasta and Canada's Barrick Gold - for blocking Tethyan from developing the asset after it had already sunk more than $220 million into the project.

Nov 12 - Gold market authority threatens to blacklist UAE and other centres
The world's most influential gold market authority is threatening to stop bullion from countries including the United Arab Emirates entering the mainstream market if they fail to meet regulatory standards, a letter seen by Reuters showed. In the letter dated Nov. 6 addressed to countries with large gold markets, the London Bullion Market Association (LBMA) laid out standards they must meet on issues such as money laundering and where they source their gold - or be blacklisted.

Nov 12 - Codelco rolls over Asia copper premium with S.Korean client - sources
Chile's Codelco has managed to roll over its premium for copper supply to Asian markets, other than China, with a South Korean customer at the current rate of $83 a tonne into next year, three sources with knowledge of the matter said. One of the sources said the client was a cable maker, which he declined to name, and put the volume it had agreed to take in 2021 at more than 50,000 tonnes of copper.

Nov 12 - S.Africa's Gold Fields posts 7% higher Q3 output; maintains FY outlook
South African miner Gold Fields on Thursday reported a 7% higher production in the third quarter, driven by the recent surge in gold prices as investors sought safety in bullion amid the COVID-19 crisis. The bullion miner said attributable gold equivalent output rose to 557,000 ounces during the quarter ended September from 523,000 ounces during the same period a year earlier. 

Nov 12 - Subsistence miners at Petra Diamonds' mine beaten, killed by security, report finds
Subsistence miners who trespassed onto Petra Diamonds' Williamson mine in Tanzania were detained, beaten, shot, and in some cases killed by security personnel, UK-based non-governmental organisation RAID said in a report on Thursday. The report, based on research conducted between September 2019 and November 2020, alleges that security contractors and security employees of Petra's subsidiary Williamson Diamonds Limited (WDL) used excessive force against unarmed Tanzanians.

Nov 12 - More KAZ Minerals' shareholders to vote against buyout plan
KAZ Minerals' minority shareholders, including its seventh biggest, Russian businessman Maxim Vorobyev, plan to vote against a 3 billion pound ($3.98 billion) take-private bid led by the company's chairman, claiming it undervalues the copper miner. A consortium led by Oleg Novachuk and KAZ director Vladimir Kim last month offered 640 pence for the 61% of the mining company's shares it doesn't already own to take it private, offering minority shareholders a 12% premium on the previous day's close. 

Nov 12 - Ivory Coast gold output up 20% by late September
Gold output in Ivory Coast stood at 28.3 tonnes at Sept. 30, 20.3% higher than at the same point last year, government spokesman Sidi Toure said on Wednesday. The world’s top cocoa producer is seeking to develop its mining sector to diversify its sources of income. It expects to reach annual gold output of 50 tonnes by 2025.

Nov 11 - Endeavour in Teranga merger talks as West African mining deals hot up 
Endeavour Mining said it is in talks with smaller West African-focused miner Teranga Gold over a merger which if it proceeds would mark the latest in a series of deals involving the gold-rich region. Teranga's shares rose 4.3% in Toronto on Tuesday, while Endeavour's were down 5.5% at 1718 GMT, signalling potential investor doubts about the benefits of a combination. 

Nov 11 - Gold stream probably 'most attractive' funding option for Turquoise Hill - Wheaton CEO 
A gold stream is "probably the most attractive" option for Canadian miner Turquoise Hill Resources as it seeks funding for a copper and gold project in Mongolia, the head of mine financing company Wheaton Precious Metals said on Tuesday. Turquoise Hill last week began arbitration proceedings against its biggest shareholder Rio Tinto to seek "clarity" on financing for Oyu Tolgoi, one of Rio's biggest growth projects.

Nov 11 - Australia's Fortescue plans global green energy drive 
Australian mining magnate Andrew Forrest outlined ambitious plans on Wednesday to build a renewable energy business, aiming to compete with oil giants to provide low-cost green energy globally. Billionaire Forrest, who turned Fortescue Metals Group over two decades into the world's fourth-biggest iron ore miner, said Fortescue Future Industries (FFI) has already signed preliminary deals, such as in Papua New Guinea and Africa, and a team of executives is looking for other partners.

Nov 11 - Vale CFO pledges will not 'overflow' the iron ore market 
Brazilian miner Vale SA will place caution before capacity as it seeks to avoid driving down the iron ore market and presses forward with its recovery from a deadly dam break in 2019. "We are going to be responsible and we are not going to overflow the markets with iron ore," Chief Financial Officer Luciano Siani said in an interview as part of the Reuters Commodity Trading Summit. 

Nov 11 - Japan's Eneos raises FY20/21 profit forecast on higher-than-expected oil prices 
Japan's oil and metals giant Eneos Holdings Inc on Wednesday more than doubled its net profit forecast for the year to next March, saying it expected an appraisal gain on its oil inventories because of higher-than-expected crude prices. It now forecasts a net profit of 90 billion yen ($855 million) for the current financial year, up from its May estimate of 40 billion yen, as it now expects an appraisal gain of 10 billion yen on its oil inventories, compared with its May forecast of a loss of 55 billion yen. 

Nov 11 - Philippines' Global Ferronickel ore sales to Baosteel to rise 30% next year 
Global Ferronickel Holdings Inc, the Philippines' second-biggest nickel ore producer, said on Wednesday it had agreed to sell 1.3 million wet metric tonnes of the stainless steel raw material to China's Baosteel Resources International Co Ltd for delivery next year, 30% higher than this year's volume. The quick economic rebound in China from the COVID-19 pandemic shock has boosted demand for nickel ore in the world's top producer of stainless steel, and the recovery is expected to accelerate in 2021, said Global Ferronickel President Dante Bravo. 

Nov 11 - China's Minmetals calls for creation of zinc smelter group to boost pricing power 
An executive from China Minmetals Corp on Tuesday called for the creation of a Chinese zinc smelters group - along the lines of an existing collective for copper - to negotiate with miners on concentrate supply and pricing. Xu Jiqing, general manager of China Minmetals Nonferrous Metals Co, proposed setting up the China Zinc Smelters Purchase Team (CZSPT) as a "new panel for negotiation" and forming a pricing system, without providing further details.

Nov 10 - English judge blocks $6.6 bln Brazil lawsuit against BHP over burst dam 
A 5.0 billion pound ($6.6 billion) English lawsuit against Anglo-Australian mining giant BHP, has been struck out, in a blow to a 200,000-strong Brazilian claimant group seeking damages after a devastating dam failure in 2015. A High Court judge in Manchester ruled that managing the largest group claim in English legal history would be like "trying to build a house of cards in a wind tunnel" and the case was an "abuse of the process of the court".

Nov 10 - Gold fuels big banks' bumper profits as oil bonanza fades 
Lower income from oil reduced commodity-related revenues at the world's ten biggest investment banks in the third quarter, but booming profits from precious metals means they are still set for a bumper year, consultants McKinsey CIB Insights said on Monday. Big banks have almost doubled their earnings this year from trading, selling derivatives and other activities in the commodities sector thanks to price volatility, supply disruption and a boom in trading since the coronavirus outbreak.

Nov 10 - China's copper import boom leaves other metals cold: Andy Home 
China's record-breaking copper import boom rolls on. Imports of unwrought copper were a whopping 618,000 tonnes in October, bringing the year-to-date total to 5.6 million tonnes, already a record annual high with two months to spare.

Nov 10 - Shanghai bourse names brands, warehouses for bonded copper contract, sets delivery fee 
The Shanghai International Energy Exchange (INE) said late on Monday it would waive the delivery fee on its upcoming bonded copper futures contract for the first seven weeks of trading and named five warehouses that can take delivery of the metal. The long-awaited contract, which will be open to international investors, giving them the chance to hedge their exposure in the world's biggest copper market, will launch on Nov. 19. 

Nov 10 - Chilean mine group warns pending glacier bill could shut down deposits 
Chile's world-leading copper industry could see some of its mines put out of business if an early stage bill to protect glaciers continues its march through Congress, Chilean mining trade group Sonami said on Monday. Diego Hernández, president of Sonami, which represents mining firms including BHP, Anglo-American and Antofagasta, asked lawmakers to closely review the science on glaciers before finalizing the bill.

Nov 10 - China coal imports show the pain goes beyond just Australia: Russell 
China's coal imports plunged in October to the lowest this year, with supplies from Australia particularly hard hit amid an ongoing political dispute. However, there are other factors at work and while the decline in imports from Australia is a headline-grabber, it's far from the only story in play.

Nov 10 - Steelmaker Voestalpine sees recovery in auto industry 
Speciality steelmaker Voestalpine reported a fourth consecutive quarterly loss on Tuesday with demand still subdued by the pandemic, but said a gradual recovery was underway. The company, which specialises in making finished parts for the automotive, aerospace and rail industries, said there had been a "considerable rebound" in major sectors in the second quarter, including in the European and the U.S. automotive industry, as well as in consumer goods and construction.

Nov 10 - KAZ Minerals' shareholder RWC Partners to vote against buyout offer 
KAZ Minerals' fifth biggest investor says it plans to vote against a 3 billion pound ($3.94 billion) take-private plan orchestrated by the company's chairman, Oleg Novachuk, because it undervalues it. A consortium, led by Novachuk and KAZ director Vladimir Kim, last month offered 640 pence for the 61% of the mining company's shares it doesn't already own to take it private.

Nov 10 - Botswana's president says mining sector to shrink by nearly a quarter in 2020 
Botswana's President said its mining industry is expected to shrink by nearly a quarter this year, before bouncing back to growth in 2021 as the diamond market picks up and production begins at a new copper mine. The mining sector, which provides a fifth of the country's GDP and 80% of foreign exchange earnings, is seen contracting by 24.5% in 2020, President Mokgweetsi Masisi said during the state of the nation address on Monday.

Nov 09 - China copper imports rise 43.4 y/y in Oct, set annual peak in just 10 months 
China's copper imports rose year-on-year in October, official data showed on Saturday, and set a new annual peak with two months to spare, underscoring the speed of the recovery from the coronavirus in the world's top consumer of the metal. Arrivals of unwrought copper and copper products stood at 618,108 tonnes last month, the General Administration of Customs said. That was down 14.4% from 722,450 tonnes in September, which was the second-highest monthly level on record, but up 43.4% from 431,000 tonnes a year earlier. 

Nov 09 - China October iron ore imports dip 1.7% m/m 
China's iron ore imports slipped 1.7% in October from a month earlier, but still hovered well above 100 million tonnes, official customs data showed on Saturday, propped up by firm demand at Chinese mills and shipments from major miners. The world's top iron ore consumer imported 106.74 million tonnes of the steelmaking ingredient in October, 14.9% more than in October 2019, but still below the 108.55 million tonnes brought in during September, according to data from the General Administration of Customs. 

Nov 09 - JX Nippon Mining to buy partner's stakes in Chile's Caserones copper mine 
JX Nippon Mining & Metals Corp, the metal unit of Eneos Holdings, said on Monday it has agreed to buy the stakes in its Caserones copper mine in Chile owned by its partners Mitsui & Co and Mitsui Mining and Smelting for an undisclosed sum. After the deal, JX Nippon Mining aims to maintain and expand production volume and extend the life of Caserones by investing in automation using advanced technology, it said in a statement.

Nov 09 - Speculators cut bullish bets on COMEX gold, silver - CFTC 
Hedge funds and money managers decreased their bullish positions in COMEX gold and silver contracts in the week to Nov. 3, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also cut their net long positions in copper futures and options, the CFTC data showed.

Nov 09 - Sumitomo posts record H1 loss amid COVID crisis, keeps full-year guidance 
Japanese trading house Sumitomo Corp reported a record net loss of 60.2 billion yen ($583 million) for the first half of its financial year as it booked hefty one-off losses amid the COVID-19 crisis. It maintained its full-year forecast for a record net loss of 150 billion yen despite Sumitomo Chief Financial Officer Masaru Shiomi noting that earnings excluding one-off items had exceeded the company's August forecasts. 

Nov 09 - De Beers-owned Debswana to close diamond mine on weak demand - union leader 
Debswana Mining Company, equally owned by De Beers and the Botswana government, will close a diamond mine in the country as weak demand and trading disruption from the pandemic make the mining of lower value diamonds unviable, a union leader told Reuters on Friday. ebswana, among the world's largest diamond producers, plans to close its Damtshaa mine in 2021 for a period of three years, said Joseph Tsimako, President of the Botswana Mine Workers Union.

Nov 09 - Cost savings in Thyssenkrupp-SSAB deal could surpass $590 mln-sources 
Germany's Thyssenkrupp and Sweden's SSAB could reap more than 500 million euros ($593 million) in annual cost savings if they agree on a steel tie-up, three people close to the negotiations said. That would surpass the level of savings Thyssenkrupp and India's Tata Steel aimed for in an attempt to merge their European steel divisions, a deal that was blocked by Brussels last year on concerns it would push up prices and reduce competition.

Nov 06 - China's Australian copper ban seen hurting smelters in TC/RCs talks
An unofficial Chinese ban on Australian copper concentrate imports could hurt Chinese smelters in their negotiations with miners on benchmark treatment charges for 2021, traders and analysts said. Australian media reported that Chinese importers have been informally warned by Chinese customs officials that a range of Australian goods, including copper concentrate, will be targeted for increased inspections from Nov. 6 amid a diplomatic row between the two countries.

Nov 06 - Lithium producer Livent in deal to buy Nemaska, extend Tesla contract
Livent Corp said on Thursday it would form a joint venture to buy Canada's troubled Nemaska lithium project and it had extended its supply agreement for the electric vehicle battery metal with Tesla Inc through the end of 2021. The company also posted lower-than-expected quarterly results, and its shares fell 3 percent to $11.50 in late trading.

Nov 06 - Barrick sees no risk to mining conventions in Mali, hikes dividend as gold soars
Barrick Gold Corp does not see a big risk that Mali will change its mining conventions, CEO Mark Bristow said on Thursday, as the company raised its dividend and reported a near three-fold jump in quarterly profit. Mali's transitional government last week said it aims to review mining conventions after the West African country's auditor general said they do not always protect the state's interests.

Nov 06 - Chile copper output costs plunged in first half even as pandemic raged - government
Chile's copper mining industry, the world's largest, saw a 17% drop in its production costs in the first half of 2020, the mining ministry said on Thursday, even as the coronavirus outbreak was sweeping through the South American country. Cash costs fell from $1.45 per pound in the first six months of 2019 to $1.21 per pound of copper produced during the same period in 2020, the ministry said in a statement.

Nov 06 - Chile's Codelco says to proceed with lithium plans at Maricunga after regulator approval
Chile state miner Codelco said on Thursday it would press ahead with a plan to search for lithium in its Maricunga salt flat holdings after receiving a green light from local environmental regulators. Codelco said in a statement that its plan had been approved by the Atacama Environmental Assessment Commission whose members voted 10-0 to allow the plan to go ahead.

Nov 06 - Sumitomo expects Ambatovy mine to produce 3,000 T of nickel in Jan-March
Japanese trading house Sumitomo Corp plans to resume operation at its Ambatovy nickel mine in Madagascar early next year as planned, with an aim to produce 3,000 tonnes of nickel during the January-March quarter, its executive said on Friday. Sumitomo may book an additional impairment loss on the project depending on the metal price and its output plan which is being reviewed, Hiroyuki Sugai, assistant CFO of the company, told a news conference.

Nov 06 - Argentina mining exports to drop by 25% in 2020 because of pandemic - officials
Argentina mining exports are expected to dip by 25% this year after activity ground to a halt under one of the strictest coronavirus lockdowns in the world, officials said on Thursday. Exports from the mining sector, made up of mostly lithium, gold and silver, will total about $2.4 billion in 2020, Mining Secretary Alberto Hensel said. Private sector investment in mineral exploration dwindled to $160 million in 2020, down from $241 million the previous year.

Nov 06 - Brazil's Vale subsidiary in talks to sell stake in Vale Nouvelle-Calédonie
Brazilian miner Vale SA said its subsidiary Vale Canada Limited had entered exclusive talks with a consortium to negotiate the sale of its stake in Vale Nouvelle-Calédonie, according to a securities filing. The exclusive talks would last 30 days, it said in the filing late on Wednesday.

Nov 05 - ArcelorMittal beats profit expectations after lockdown low
ArcelorMittal, the world's largest steelmaker, reported third-quarter core profit above expectations on Thursday as the easing of COVID-19 lockdowns led to improved demand in all regions. The company, which makes around 5% of the world's steel, said core profit (EBITDA) fell 15% from a year earlier to $901 million, compared with an average expectation of $838 million in a company-compiled poll.

Nov 05 - Copper trading volumes rebound as speculators return
Copper volumes on world exchanges are climbing again as a buoyant economic recovery from COVID-19 in top metals consumer China spurred speculators to pile back into the market. Copper is widely used by speculators and funds as a proxy for the health of the global economy due to its wide range of uses from construction to manufacturing.

Nov 05 - Copper and gold take relaxed view of tight U.S. election: Russell
Gold and copper are often viewed as commodity barometers of economic concern and growth, respectively, and both had a fairly muted reaction to what markets were said to fear the most about the U.S. election - a disputed outcome with no clear winner. While the machinations of the U.S. presidential election will inevitably move toward a conclusion in coming days, the signal from commodity markets seems to be one of caution, but not too much in the way of concern.

Nov 05 - China stainless steel output to top 30 mln tonnes in 2020 - industry body
China's stainless steel production is expected to rise by 2.1% this year to more than 30 million tonnes amid robust demand for the corrosion-resistant metal, an official from an industry body said on Thursday. Apparent stainless steel consumption in China, the biggest market, is set to rise by 6.4% to 25.5 million tonnes this year, Liu Fuxing, executive vice president of the Stainless Steel Council of China Special Steel Enterprises Association, said at a nickel and cobalt conference in Nanjing.

Nov 05 - S.Africa' Amplats cuts refined production guidance after closure of processing unit
Anglo American Platinum (Amplats) cut its 2020 refined production and sales guidance on Thursday after closing the Phase B unit of its Anglo Converter Plant (ACP) processing facility due to a series of water leaks. The Johannesburg-listed miner, one of the world's largest platinum producers, said the closure would result in an increase in work-in-progress inventory until its Phase A unit was operational. It lowered its 2020 refined production and sales guidance to 2.5 million ounces from 3.1-3.3 million ounces.

Nov 05 - Chile's mining investment to lag while constitution rewritten, official says
Chile's world-leading copper industry will see investment lag for at least two years as the country rewrites a constitution that underpinned nearly three decades of mining growth in the South American nation, a senior mining official told Reuters. "Hardly a project of a very large magnitude will be carried out in the next two years until there is clarity around the new constitution," Diego Hernández, president of Chile's National Mining Society (Sonami), said on Tuesday. "And I don't think it is necessary given supply-demand and the market at the moment."

Nov 05 - Albemarle forecasts full-year profit above estimates
Lithium miner Albemarle Corp forecast full-year profit above estimates on Wednesday, but warned that the company's annual performance will be subdued, following reduced global economic activity due to the global pandemic. Lithium producers raised output last year in anticipation of a demand rush from EV manufacturers going into 2020, but the COVID-19 pandemic slammed the brakes on the electrification revolution and dented global automobile sales.

Nov 05 - Turquoise Hill starts arbitration with Rio Tinto for clarity on Mongolia mine funding
Turquoise Hill Resources Ltd said on Wednesday it was starting arbitration proceedings to clarify provisions of some arrangements with Rio Tinto, related to additional funding for the Canadian miner's Oyu Tolgoi copper mine in Mongolia. Rio Tinto had said in September it planned to raise up to $500 million through additional lending to develop the giant copper mine.

Nov 04 - BHP's Escondida copper mine sees output fall in September, Codelco boosts production - Cochilco
BHP's Escondida, the world's largest copper mine, saw production fall in September while top miner Codelco saw output rise amid the ongoing coronavirus pandemic in the South American nation, according to government figures released Tuesday. The Chilean Copper Commission (Cochilco) reported that Codelco - the world's largest copper mining company - boosted production by 9.6% year-on-year to 159,200 tonnes. The company ratcheted up output by 2.9% between January and September despite restrictions put in place to slow the spread of coronavirus.

Nov 04 - China's Lygend pushes back Indonesia nickel project to March 2021
China's Lygend Resources & Technology Co Ltd will not begin operating a nickel smelter at a project planned for eastern Indonesia until March 2021, a six-month delay, after the coronavirus slowed work, an executive said on Wednesday. "If there was no pandemic our products would have been delivered to customers already," Liu Feng, the company's vice general manager, told the China International Nickel and Cobalt Conference in Nanjing.

Nov 04 - Funds place their bets on copper going into U.S. election: Andy Home
Funds are betting on copper as a likely winner from the U.S. election. It helps that copper has staged a remarkable recovery from its COVID-19 lows in March, the London Metal Exchange (LME) price bouncing back from $4,371 a tonne to $6,810. Black-box funds love a trending market and copper has been just that. China has fuelled the supercharged rally. The country's manufacturing engine seems to be purring and record imports of refined copper are sucking surplus metal from the rest of the world.

Nov 04 - Russia's Norilsk Nickel board recommends 9-month 2020 dividend of $1.24 bln 
The board of Russia's Norilsk Nickel on Tuesday recommended a nine-month dividend of 98.64 billion roubles ($1.24 billion), at 623.35 roubles per share, down sharply fall from 2019. The company's biggest shareholder Vladimir Potanin told Reuters last week that Norilsk Nickel should keep its dividends to a minimum this year, as it contends with the coronavirus crisis and a potential $2 billion environmental damages bill.

Nov 04 - S.Africa mines minister says Sibanye 'stole' Black ownership rating 
South Africa's mining minister on Tuesday accused Sibanye-Stillwater of breaching regulations on Black ownership targets at its gold operations and said the miner had stolen its compliance rating. To try to rectify the wealth disparities left by the apartheid regime, government regulations require South African companies to ensure Black investors own a proportion of their shares.

Nov 04 - China's Jinchuan joins Shanghai exchange ahead of copper futures launch
Jinchuan Group, one of China's biggest nonferrous metal producers, has been approved as a member of the Shanghai International Energy Exchange (INE), the bourse said on Tuesday. The admission of Gansu-based Jinchuan - a maker of copper, cobalt and nickel - to the INE members list comes a little more than two weeks before the exchange is set to launch a new copper futures contract on Nov. 19.

Nov 04 - China's Chalco transfers more aluminium capacity to Yunnan affiliate
Aluminum Corp of China Ltd, or Chalco, said on Tuesday it would sell a 135,000 tonnes annual aluminium smelting capacity quota to Yunnan Aluminium, continuing the sector's migration to China's hydropower-rich southwest. Yunnan Aluminium, which like Chalco is a subsidiary of state-owned Chinalco, the world's biggest aluminium producer by capacity, came out on top in an auction for the quota, bidding 538.65 million yuan ($80.64 million), excluding tax, Chalco said in an exchange filing.

Nov 04 - China's Nanjing Hanrui Cobalt to start cobalt production line in DRC
China's Nanjing Hanrui Cobalt Co Ltd expects to start its cobalt production line in the Democratic Republic of Congo (DRC) in late-November to December, General Manager Liang Jie said on Wednesday. The 5,000-tonnes-per-year production line in Kolwezi, DRC, which was expected to go online earlier in the year, was delayed by the COVID-19 pandemic, Liang said on the sidelines of the China International Nickel and Cobalt Conference in Nanjing.
Nov 04 - Congo's 2020 copper production up nearly 14% through September
Copper production in Democratic Republic of Congo rose 13.7% year-on-year to 1.186 million tonnes for the period from January to September 2020, central bank data showed. Cobalt production rose 0.3% to 58,220 tonnes in the same period, the data showed.

Nov 04 - Perth Mint's Oct silver sales slip on production bottleneck
The Perth Mint's sales of silver products fell in October due to temporary production constraints, while gold sales dropped to their lowest in six months on U.S. election uncertainty, the refiner said in a blog post on Tuesday. Sales of silver coins fell to 1,228,713 ounces — their lowest since May, down 26.7% month-on-month and 11.8% from a year earlier.

Nov 03 - Codelco's China customers baulk at copper premium rollover - sources
Chinese state-run copper buyers have not accepted Chilean copper producer Codelco's offer to roll over the price premium for metal deliveries in 2021, three sources with knowledge of the matter said this week. The premium, which is paid on top of London Metal Exchange (LME) copper prices for physical delivery of copper cathodes and is a widely watched industry benchmark, has been at $88 a tonne since 2019. China, the world's biggest copper consumer, is Codelco's most important market.

Nov 03 - China's iron ore market appears in supply-demand sweet spot: Russell
Iron ore appears to have settled into something akin to a comfortable equilibrium, with Chinese stimulus spending keeping demand high, but supply from Australia and Brazil sufficient to maintain a balanced market. China, which buys about two-thirds of global seaborne supplies, is continuing to import at a robust pace, with Refinitiv data estimating 101.6 million tonnes were offloaded in October.

Nov 03 - Lundin's Candelaria copper mine in Chile offers new deal to end strike
Chile´s Candelaria copper mine, owned by Canada's Lundin Mining Corp, said on Monday it had submitted a new contract offer to a striking union in a bid to end a nearly month-long walk-off at the deposit. Members of the "Mina" union halted activities on Oct. 8 after the talks collapsed. The two parties have since made little progress on a new deal.

Nov 03 - Plateau Energy Metals raises $600 mln for Peru's delayed lithium project
Canada's Plateau Energy Metals has raised nearly $600 million to develop Peru's sole lithium project and expects to start mining in 2023, a year later than planned, as the country lags its neighbours in developing the battery mineral, a company official said.

Nov 02 - Mining giant BHP signs up for responsible copper production framework
BHP Group Ltd, the world's biggest listed miner, said on Monday it has submitted a letter of commitment to responsible copper production under the Copper Mark framework, launched by the International Copper Association in April last year. Under the programme, copper producers will be assessed by an independent body against a set of "responsible production criteria" in line with the United Nations sustainable development goals, according to Copper Mark.

Nov 02 - Glencore beats production estimates but trims coal guidance 
Glencore reported stronger third-quarter production but its shares fell after it lowered its 2020 coal production guidance by 5.7% as a strike at the Cerrejon mine in Colombia entered its 60th day on Friday. Cerrejon, owned equally by Glencore, BHP Group and Anglo American, has been in negotiations with its largest union and on Wednesday said that "significant advances" had been made.

Nov 02 - AngloGold Ashanti doubles dividend payouts as profits, cash soar
Gold miner AngloGold Ashanti said on Monday it would double its dividend payout ratio as profits soared and borrowings decreased on the back of stronger gold prices. Higher precious metals prices, including gold's surge to record highs above $2,000 an ounce earlier this year, have offered miners a lifeline after production disruptions caused by the COVID-19 pandemic.

Nov 02 - Chile's Codelco reports 86% leap to $1.124 billion of profits to September
Chile's state-owned miner Codelco, the world's largest copper producer, on Friday reported a 86% increase in its profit for the first nine months of the year on Friday, to $1.124 billion, amid an increase in production. The company, which turns over all its profits to government coffers, said production rose 4% year-on-year to 1.165 million tonnes in the first nine months.

Nov 02 - China's aluminium juggernaut may be running out of road: Andy Home
Another month, another Chinese aluminium production record. China's giant smelter sector churned out an average 105,000 tonnes per day in September, according to the International Aluminium Institute, with year-to-date production up 3.3% on 2019.

Nov 02 - Anglo American CEO says not responsible for lead poisoning in Zambia
Anglo American Chief Executive Mark Cutifani said on Friday it was not responsible for lead poisoning at a Zambian lead mine it part-owned nearly 50 years ago and planned to defend itself after a class action was filed against the miner. The class action suit was filed last week by South African law firm Mbuyisa Moleele and UK-based Leigh Day on behalf of what they say is estimated to be more than 100,000 individuals over allegations of negligence.

Nov 02 - Labor paralysis drags on at Lundin's Candelaria in Chile 
The suspension of operations at Chile's Candelaria copper mine continued on Friday with no sign of a resolution in a contractual dispute between the company and two workers' unions, the parties said. Canadian miner Lundin denounced road blockades and illegal force used by striking workers, while the unions denounced the company's intransigence in seeking a solution.

Nov 02 - Thyssenkrupp keeping options open on steel, plant divisions - letter 
Thyssenkrupp is keeping its options open regarding the prospective sale of its steel and plant divisions, the management board said in a letter to staff on Friday, adding that the outcome of talks was unclear. "We are a long way from our goal and will have to go further through the 'red zone'," read the letter reviewed by Reuters that called on the German industrial conglomerate's workforce to be patient.

Nov 02 - Botswana rough diamond exports down 66% in third quarter
Botswana's rough diamond exports plunged around 66% in the third quarter compared with the same period last year, data showed on Friday, as the coronavirus pandemic hit demand and global travel restrictions impacted trading. Botswana closed its borders in March to curb the spread of the virus, locking out international buyers from countries like India, Belgium and China who traditionally travel to Gaborone many times a year to view and buy diamonds.

Nov 02 - Mali's auditor general recommends review of mining contracts
Mali's transitional government aims to review mining conventions signed with companies by the previous administrations, interim President Bah N'daw, said late on Friday following recommendations from the country's auditor general. Mali is one of Africa's largest gold producers. Companies operating in the country include Barrick Gold Corp and AngloGold Ashanti and Resolute Mining.

Oct 30 - Brazil's miner Vale expects stronger iron ore sales in Q4
Brazilian miner Vale SA has recovered its iron ore inventories in the third quarter and will reduce the gap between production and sales in the coming months, potentially bringing relief to a tight global supply for the key steel-making ingredient, company executives said on a Thursday. In a call with analysts on Vale's quarterly results, Chief Executive Officer Eduardo Bartolomeo and executive director Marcello Spinelli said recovered inventories in China will give the producer more flexibility on sales going forward. 

Oct 30 - Green upgrades see China steel, aluminium plants set to beat winter output freeze
For some metal producers in northern China, winter months have become synonymous with unwelcome output curbs, imposed in Beijing's drive to cut smog. Not this year: heavy spending to modernise plants means most are set for little disruption. First implemented in 2017/18, the so-called "winter cuts" - which mainly target 28 smog-prone northern Chinese cities - propelled prices for steel and aluminium to multi-year highs on supply concerns. 

Oct 30 - Brazil prosecutors file appeal against BHP, Vale dam compensation deal
Brazilian federal prosecutors on Thursday filed a lawsuit contesting a compensation package for victims from a 2015 collapsed dam jointly owned by mining giants BHP and Vale, arguing that the package is far too low. The move comes after prosecutors earlier this month accused the two companies of colluding with a lawyer to reduce compensation for the victims and interfere with a landmark lawsuit against BHP in the UK. 

Oct 30 - Glencore trims coal guidance as strike continues at Colombian mine
Glencore lowered its 2020 coal production guidance by 5.7% to 109 million tonnes as a strike at the Cerrejon mine in Colombia entered its 60th day on Friday. Cerrejon, owned equally by Glencore, BHP Group and Anglo American, has been in negotiations with its largest union and on Wednesday said that "significant advances" had been made.

Oct 29 - Gold demand fell to its lowest in 11 years in the third quarter - WGC
Global demand for gold in the third quarter of 2020 was the lowest in 11 years, as a rush by investors to stockpile bullion slowed and central banks sold metal for the first time in a decade, the World Gold Council (WGC) said on Thursday. The coronavirus pandemic collapsed jewellery sales, usually the biggest source of gold demand, but this has been offset by investors looking for an asset they see as a safe store of value. 

Oct 29 - Investors worth $10.2 trln press global miners for talks on Indigenous engagement
Institutional investors worth $10.2 trillion have written to the boards of global mining companies to better understand their engagement with First Nations people, in the wake of Rio Tinto Ltd's destruction of Juukan Gorge rockshelters. The group of 64 investors and their representatives, including the Church of England Pensions Board and the Australian Council of Superannuation Investors (ACSI), issued a statement on Thursday. 

Oct 29 - Brazil miner Vale nearly doubles net profit as output recovers
Brazilian miner Vale SA on Wednesday reported its third-quarter net profit nearly doubled from the same period a year ago, as the company boosted iron ore production and inventories following a deadly dam disaster in January 2019. Net profit for the three months through September climbed to $2.9 billion from $1.6 billion a year earlier, though it still fell well short of a Refinitiv estimate of $3.6 billion.

Oct 29 - India's gold demand could recover during Q4 on festival shopping - WGC
India's gold demand in the fourth quarter is expected to recover after falling 30% in the previous quarter as festivals are expected to strengthen retail jewellery purchases, the World Gold Council (WGC) said on Thursday. "We expect quarter four would be better than quarter three due to pent-up demand and festivals," said Somasundaram PR, the managing director of WGC's Indian operations.

Oct 29 - Fortescue sees early signs steel-making recovery in Japan, S Korea
Australia's Fortescue Metals Group Ltd posted a 5% rise in first-quarter iron ore shipments on Thursday, fed by robust Chinese demand for the key ingredient in steelmaking, which an executive said was also improving elsewhere in Asia. Iron ore prices have stayed buoyant this year despite a coronavirus-induced slump in demand for most commodities, as the world's top metals user China ramped up infrastructure spending to counter the economic shock from curbs against coronavirus. 

Oct 29 - Australia shrugs off carbon neutral pledges of its top resource buyers. It shouldn't: Russell
If you were the chief executive of a major corporation and three of your top customers said they intended to buy substantially less of your products, it would probably spur a re-think and a shift in strategy. Being the elected political leader of a country is a different role than that of a business executive, but the same principles ought to apply, or at least have relevance.

Oct 29 - Newcrest quarterly gold output drops, costs climb; on track to meet 2021 guidance
Newcrest Mining Ltd, Australia's top gold producer, on Thursday posted a drop in first-quarter output and outlined a jump in costs, sending its shares down to a four-month low. The miner, however, said it is on track to meet its 2021 production guidance and expects both gold and copper production to increase in the second quarter.

Oct 29 - China bought nearly 30% of Indian steel exports in April-Sept - data
China was the top foreign buyer of Indian steel between April and September, government data showed on Wednesday, marking a rare rise in bilateral economic activity at a time of political tensions that have triggered some trade curbs. China bought 1.9 million tonnes, cornering 29% of India's finished steel exports, which hit their highest in at least six years at 6.5 million tonnes, the provisional data analysed by Reuters showed.

Oct 29 - New coral species discovered on seabed prized for mining potential
Three species of black coral have been discovered on the seabed of the northern Pacific Ocean, an area where several countries have contracts to explore for metals including cobalt and nickel as they race to find new supplies of the key battery elements. The corals were discovered on deep seamounts and ridges in the mineral-rich Prime Crust Zone, which stretches from the Mariana Trench to the Hawaiian islands, according to a paper published in scientific journal Zootaxa on Thursday.

Oct 29 - Orocobre hit by drop in flagship mine's output, says lithium prices likely at bottom
Australia's Orocobre Ltd said on Thursday that lithium prices have likely bottomed out, as it reported a 24% drop in quarterly production at its flagship Olaroz mine in Argentina, hit by coronavirus-related operational restrictions. Orocobre said in a statement that prices of the commodity used in electric vehicle batteries appear to have bottomed out and that it expected higher realised prices in the second quarter.

Oct 29 - EU steel producers preparing for no-deal Brexit as demand tumbles
The European Union steel sector, faced with a tumble in demand this year due to the COVID-19 pandemic, is preparing for a potential collapse in talks between the United Kingdom and the EU on a future trade deal, an industry group said on Wednesday. The two sides resumed talks in London on Tuesday to try to strike a last-minute trade agreement, less than 10 weeks before the United Kingdom leaves the bloc's orbit.

Oct 29 - Miner Agnico beats quarterly profit on gold price surge, raises capex
Canada's Agnico Eagle Mines reported a better-than-expected quarterly profit on Wednesday, benefiting from a surge in gold prices and sales volume, and raised its capex forecast for the year as it spends on several sites to boost production. Agnico now expects total capital expenditure for the year to range between $720 million and $740 million, higher than earlier forecast of $690 million, as it develops its Kittila mine in northern Finland, its first to open outside of Canada.

Oct 28 - Trump lifts tariffs on Canadian aluminum, warns he may resume them 
U.S. President Donald Trump issued a proclamation on Tuesday formally removing tariffs on raw aluminum imports from Canada but threatening to reinstate them if there was a surge in imports of the metal across the northern U.S. border. The proclamation follows an agreement with Canada announced last month by the U.S. Trade Representative's office to reinstate an exclusion for Canadian imports from 10% "Section 232" national security tariffs, retroactive to Sept. 1. 

Oct 28 - Philippines' Nickel Asia suspends ops at mine after coronavirus outbreak 
Nickel Asia Corp, the Philippines' top nickel ore producer and exporter, said on Wednesday it has suspended operations at one of its four mines after an outbreak of the new coronavirus. Work at Nickel Asia's Hinatuan mine in the nickel mining hub, the Caraga region, have been suspended from Tuesday until Nov. 10 as a containment measure, it said in a statement, after 19 employees tested positive. 

Oct 28 - Nickel's sizzling rally cools, but not over yet 
Nickel's spectacular rally over the last month, based on ore shortages and robust demand from China's stainless steel mills, still has momentum, but as supplies rise and demand dwindles, prices will retreat. Prices of nickel on the London Metal Exchange, near 14-month highs at around $16,000 a tonne, have climbed 10% since Oct. 2 and 45% since March, when coronavirus lockdowns and stalled manufacturing activity hit prices of industrial metals.

Oct 28 - Chalco Q3 profits jump on cost cuts; aluminium production falls 
Aluminum Corp of China Ltd, known as Chalco, said on Tuesday its net profit quadrupled in the third quarter from a year earlier as a substantial cut in operating costs offset lower production volumes. Chinese smelters are currently enjoying strong aluminium prices after a stellar recovery from the coronavirus outbreak. Prices rose nearly 7% over the third quarter to well above break-even levels and last week hit their highest in 2-1/2 years at almost 15,000 yuan ($2,240) a tonne. 

Oct 28 - Nickel surplus looms as electric vehicle buzz fades: Andy Home
The London Metal Exchange (LME) nickel price last week touched a year-to-date high of $16,135 per tonne. Nickel bulls would love to believe this is all about rising usage in lithium-ion batteries for electric vehicles. The EV story has generated a tangible buzz in the nickel market over the last two years with Tesla's Elon Musk recently fanning the flames with his call for more mines to meet demand for electrification. 

Oct 28 - China environment ministry calls for end to aluminium sector's move west 
China's environment ministry on Tuesday said new aluminium production should no longer be encouraged in the country's sprawling western region - in a proposal that goes against a current industry trend - and made the same suggestion for coke. Aluminium smelters in China, the world's top producer of the metal, are increasingly building plants in western parts of the country, particularly Yunnan province, to take advantage of cleaner hydropower, while China is cutting capacity for coke, a raw material in steelmaking.

Oct 28 - Australian hard rock lithium producer Altura enters administration 
Australian lithium producer Altura Mining Ltd has entered receivership, administrator KordaMentha said, hit by a prolonged period of low prices for battery materials that has been exacerbated by the COVID-19 pandemic. KordaMentha was appointed as administrator on Oct. 26 by Altura's security agent, BNY Trust Company of Australia Ltd.

Oct 27 - Vale dam-break trauma raises level of ESG funds in Brazil
Many Brazilian investors - dazzled by iron ore miner Vale SA's resilient cash flow - were ready to forgive the company within months of a deadly dam disaster in 2019, piling back into its shares after an initial selloff. But not everyone was as willing to continue as if nothing had happened.

Oct 27 - Mind the gap between sister metals zinc and lead: Andy Home
The London Metal Exchange (LME) zinc price last week touched a high of $2,596.50 per tonne, the galvanising metal's strongest performance since May 2019. The LME lead price, by contrast, has been moving in the opposite direction and is now the clear under-performer of the London base metals market. 

Oct 27 - Australian hard rock lithium producer Altura enters administration
Australian lithium producer Altura Mining Ltd has entered receivership, administrator KordaMentha said, hit by a prolonged period of low prices for battery materials that has been exacerbated by the COVID-19 pandemic. KordaMentha was appointed as administrator on Oct. 26 by Altura's security agent, BNY Trust Company of Australia Ltd.

Oct 27 - China's Jan-Sept gold consumption slumps over 28% y/y - association
China's gold consumption dived 28.66% on an annual basis to 548.09 tonnes in the first nine months of the year, the China Gold Association said on Tuesday. Gold consumption in the July-September period, meanwhile, jumped 28.71% quarter-on-quarter fueled by stabilising domestic economy, the association said in a statement on its website.

Oct 27 - Teck Resources quarterly adjusted profit falls 66.6%
Canadian miner Teck Resources Ltd reported a 66.6% fall in third-quarter adjusted profit on Tuesday, as production of steelmaking coal decreased. Miners around the world have been struggling after the COVID-19 pandemic wreaked havoc on the commodities market, forcing companies to shut mines, cut production and in some cases wind down certain operations.

Oct 27 - MMG says Las Bambas copper shipments back to normal, cuts 2020 guidance
Shipments from MMG Ltd's Las Bambas copper mine in Peru have returned to normal after nearly a week of disruption, the Hong Kong-listed company said on Monday, even as it slashed its output guidance for the mine in 2020 by more than 10%. Trucking of concentrate from Las Bambas, one of the world's biggest copper mines, to the port of Matarani on the Pacific Ocean was affected last week as local communities blocked the area's main road. 

Oct 27 - Nornickel to consider nine-month dividend but could cap payout
Russia's Norilsk Nickel should keep its dividend to a minimum this year, biggest shareholder Vladimir Potanin told Reuters, as the company contends with the coronavirus crisis and a potential $2 billion environmental damages bill. Potanin's Interros holding, aluminium producer Rusal and some other stakeholders have a dividend agreement that suggests Nornickel pays them twice a year.

Oct 27 - China's Delong Holdings targets 20 mln T of steel output in Indonesia
Chinese steelmaker Delong Holdings said it has signed a letter of intent to lift the annual capacity of its steel project in Indonesia to 20 million tonnes - more than three times the volume the Southeast Asian country produced last year. Mineral-rich Indonesia has attracted billions of dollars of investment from top metals consumer China as it looks to position itself as a hub for steel and battery materials production.

Oct 27 - Stronger diamond prices lift Petra Diamonds' Q1 revenue
Petra Diamonds' first-quarter revenue climbed 33% year on year helped by inventory sales and a 21% increase in diamond prices since the start of the coronavirus pandemic, the miner said on Tuesday. Petra, which mines diamonds in South Africa and Tanzania, said revenue for the quarter to Sept 30 was $82 million.

Oct 26 - China's 2020 crude steel output seen up 3-5% on higher demand - industry association
China's 2020 crude steel output is expected to exceed 1 billion tonnes, up 3-5% year-on-year, driven by rising consumption underpinned by favourable government policies, an industry association said on Monday. The China Iron and Steel Association (CISA) said its steelmaker members are "prudently positive" about the market as fourth-quarter orders were "relatively full", Qu Xiuli, vice chairwoman of the CISA, said at the briefing.

Oct 26 - China's new international copper contract comes at the right time: Russell
Next month's launch of an international copper contract in China comes at an opportune moment, as the world's largest importer and consumer of the industrial metal shows once again just how much it dominates the market discourse. The futures contract will launch on the Shanghai International Energy Exchange (INE) on Nov. 19, the China Securities Regulatory Commission said on Friday.

Oct 26 - Brazil prosecutors accuse BHP, Vale of colluding to reduce payouts to disaster victims
Brazilian federal prosecutors have accused mining giants BHP and Vale of colluding with a lawyer to reduce compensation for victims of a fatal dam collapse and interfere with a landmark lawsuit against BHP in the UK. A mining waste dam burst in 2015 at BHP and Vale's Samarco joint venture in the town of Mariana, releasing a torrent of sludge that killed 19 people. The collapse is also considered the country's worst-ever environmental disaster, contaminating a river for hundreds of miles to the ocean.

Oct 26 - Copper wins London Metal Exchange Week beauty parade: Andy Home
This year's London Metal Exchange (LME) Week has been a virtual affair of webinars and Zoom calls but the buzz of bullish excitement around copper has been very real. Nickel won the LME Week beauty parade for the past two years as the market collectively reassessed the role of the stainless steel component in electric vehicle (EV) batteries.

Oct 26 - China reverts to net aluminium exporter in Sept; imports remain strong
China reverted to being a net aluminium exporter in September, official data showed on Friday, as the price gap between foreign and domestic metal narrowed, making shipments from overseas more expensive and reducing import volumes. The world's top aluminium producing country imported 355,999 tonnes of unwrought aluminium and aluminium products last month, the General Administration of Customs said. That compared with exports of 426,469 tonnes.

Oct 26 - Rio Tinto asks court to OK sale of partner's diamonds in Canada mine
Global miner Rio Tinto is seeking court approval to sell its partner's share of diamonds from a mine in Canada's Northwest Territories, a filing this week showed, hoping to recover around C$120 million plus legal fees and other costs. Rio owns 60% of Diavik Diamond Mines Inc (DDMI) and says it is owed C$119.5 million plus about C$2.4 million in fees by junior partner Dominion Diamond ULC.

Oct 26 - Aluminium maker Hydro surprises with Q3 profit jump, shares up 7%
Norsk Hydro posted a surprise rise in third-quarter operating profit on Friday powered by a rebound in its extruded business, sending shares in the Norwegian aluminium maker up 7%. Hydro's shares hit a five-week high as analysts said the company's outlook was improving after a fall in demand in the second quarter.

Oct 26 - Truck shipments from MMG's Las Bambas mine in Peru back to normal
Shipments from MMG Ltd's Las Bambas copper mine in Peru to the port of Matarani have returned to normal after nearly a week of disruption last week as communities prevented trucks from using the main road, a spokeswoman said on Monday. "Inbound logistics continued to operate with restricted outbound logistics for approximately six days. Trucking and drawdown of stockpiles has resumed at normal levels," the spokeswoman told Reuters, adding that production was not hit.

Oct 26 - Barrick Gold plans to expand exploration in Tanzania
Barrick Gold Corp said on Friday Tanzania has awarded 10 new exploration licenses to the Canadian miner and it plans to spend $8 million to carry out exploration in the country this year. Barrick oversees the management of its assets in Tanzania through Twiga Minerals Corp, a joint venture formed last year between the company and the government of Tanzania.

Oct 26 - Major Colombia gold mine opens, commercial operation to begin in December
Colombia gold mine Buritica, which the government hopes will boost production of gold by 25% as it looks to diversify mining away from coal, opened on Friday in a ceremony attended by President Ivan Duque. Buritica, operated by Zijin-Continental Gold, a subsidiary of Chinese company Zijin Mining Group Co Ltd, is Colombia's first large-scale underground gold project and will initially produce 240,000 ounces of gold a year.

Oct 23 - LME denies trying to close ring by stealth with new digital plan
The London Metal Exchange is not trying to permanently close its open-outcry ring "by stealth" with its push to boost digital trading during the COVID-19 pandemic, its chief executive told Reuters on Thursday. The ring, the last trading floor of its kind in Europe, closed in March for the first time since World War II due to the outbreak, ending its theatre of arcane hand signals and frenzied shouting by traders.

Oct 23 - Biden campaign tells miners it supports domestic production of EV metals
Joe Biden's campaign has privately told U.S. miners it would support boosting domestic production of metals used to make electric vehicles, solar panels and other products crucial to his climate plan, according to three sources familiar with the matter, in a boon for the mining industry. The Obama administration enacted rigorous environmental regulations that slowed U.S. mining sector growth during its time in office. Biden, who served as Obama's vice president and is well-regarded in conservation circles, has been expected to continue in that vein.

Oct 23 - Investors will hoard gold even faster next year, keeping prices high - Refinitiv
Demand for gold from jewellers and central banks will remain sharply lower in 2021 than before coronavirus, but investors will keep prices high by stockpiling record amounts of bullion, Refinitiv Metals Research said. Gold prices are near record highs after surging to $2,072.50 an ounce in August as investors in Europe and North America hoarded an asset they thought would hold its value through the pandemic. 

Oct 23 - IWCC revises up global copper demand forecasts
The International Wrought Copper Council (IWCC) on Thursday revised up its copper demand forecasts for this year and next as consumption starts to recover from the coronavirus, but is still projecting a first annual drop in more than a decade in 2020. The IWCC, which represents copper fabricators, sees global refined copper demand at 22.9 million tonnes in 2020, down 4.6% from the previous year, with all regions set to see a fall. 

Oct 23 - Australia's biggest mining royalty firm Deterra debuts with $1.83 bln market value
Deterra Royalties Ltd debuted on the Australian Securities Exchange on Friday with a market value of A$2.57 billion ($1.83 billion) after being spun off from mineral sands producer Iluka Resources Ltd. Deterra, the country's biggest listed mining royalty business, joins Australia's top 200 listed companies after issuing about 528 million shares, which started trading at A$4.87 per share. 

Oct 23 - Freeport-McMoRan profit beats on higher gold prices, cost curbs
Freeport McMoRan Inc beat analysts' estimates for third-quarter profit on Thursday, as the miner benefited from higher gold prices due to the COVID-19 pandemic and cost cuts. The Phoenix, Arizona-based company announced a major cost-cutting drive in April and has also lowered its capital expenditure. 

Oct 23 - Hydro earnings rise unexpectedly on market recovery, cost
Norwegian aluminium maker Norsk Hydro posted a surprise rise in third-quarter operating profits on Friday and said its markets were recovering from the fall in demand seen in the second quarter. Its Extruded unit, which makes products for construction and other industry, saw a faster than expected recovery, especially in Europe, and was boosted by lower raw material costs and fixed costs as well as positive currency effects, Hydro said.

Oct 23 - S.Korea POSCO's profit falls more slowly in Q3 on improved demand for steel
South Korean steelmaker POSCO posted a 36% fall in year-on-year operating profit in the third quarter, but profits fell by less than expected as a rebound in the automobile industry underpinned demand for steel. The world's fifth-biggest steelmaker said steel production and sales recovered to pre-COVID-19 levels during the quarter as coronavirus restrictions eased globally, after demand for steel was hard hit by the pandemic earlier this year. 

Oct 23 - Japan's crude steel output drops for 7th month in a row
Japan's crude steel output dropped 19.3% in September from a year earlier, falling for the seventh month in a row as the COVID-19 pandemic continued to weigh on demand, the Japan Iron and Steel Federation said on Thursday. Output, which is not seasonally-adjusted, declined to 6.49 million tonnes in the world's No.3 steel producer, but it increased 0.6% from August, marking a third straight month-to-month rise.

Oct 23 - Protesters sit-in at Brazil miner Vale dam burst site, demand aid extension
Roughly 150 demonstrators staged a sit-in at Brazilian miner Vale's administrative building in the town of Brumadinho on Thursday to protest their treatment nearly two years after a deadly mining waste dam collapsed there, killing about 270 people. The protestors are demanding an extension of emergency aid payments for about 100,000 people affected by the disaster, while also alleging that the miner has failed to provide them with clean drinking water after mining waste polluted local water sources.

Oct 23 - Chrome ore producers criticise S. Africa's proposed export tax
The industry body representing South African chrome producers criticised a proposed chrome ore export tax put forward by the cabinet on Thursday, which would make it more expensive for them to ship their product overseas. South Africa is the world's biggest producer of chrome ore, a key ingredient in stainless steel. Last year it supplied 12.5 million tonnes of the mineral to China - 83% of China's total chrome imports.

Oct 23 - Less short-time work at Thyssenkrupp steel, but crisis not over
Thyssenkrupp's steel unit, which Britain's Liberty Steel wants to buy, has cut reliance on shortened working hours, a spokesman said on Thursday, adding that alone was not yet a sign of a sustainable demand recovery. "The economic collapse caused by corona is not over yet, even though some markets show signs of recovery. How sustainable these trends are is currently unforeseeable," the spokesman said.

Oct 22 - Commodities headed for bull market in 2021 on inflation fears, stimulus - Goldman Sachs
A weaker U.S. dollar, rising inflation risks and demand driven by additional fiscal and monetary stimulus from major central banks will spur a bull market for commodities in 2021, Goldman Sachs said on Thursday. The bank forecast a return of 28% over a 12-month period on the S&P/Goldman Sachs Commodity Index (GSCI), with a 17.9% return for precious metals, 42.6% for energy, 5.5% for industrial metals and a negative return of 0.8% for agriculture.

Oct 22 - Lead, zinc to be in global surplus next year - ILZSG
Global supply of refined lead will exceed demand by 276,000 tonnes in 2020, and move into a surplus of 192,000 tonnes next year, the International Lead and Zinc Study Group (ILZSG) forecast on Wednesday. The global refined zinc market, meanwhile, will see a surplus of 620,000 tonnes in 2020, and a surplus of 463,000 tonnes in 2021, the ILZSG forecast.

Oct 22 - China's blueprint to stockpile copper expected in 5-year plan
The prospect of China buying copper for its stockpiles is filtering through the market ahead of a meeting of the country's leaders to discuss its next five-year economic and social development plan. The meeting due to take place next week is expected to approve the stockpiling of commodities such as copper, which China has to import due to inadequate domestic resources of the metal used widely in the power and construction industries.

Oct 22 - Russia's Polyus sees reserves at giant Siberian deposit at 40 mln oz of gold
Russia's largest gold producer Polyus on Thursday estimated reserves at the Sukhoi Log gold deposit in Siberia at 540 million tonnes of ore, containing 40 million troy ounces of gold. Polyus and its partner bought the rights to develop Sukhoi Log, estimated to contain a fifth of Russia's gold reserves, from the Russian state in 2017. 

Oct 22 - China's imports are soaking up the world's excess copper: Andy Home 
The refined copper market is on course to register a supply-demand shortfall this year, according to the International Copper Study Group (ICSG). The forecast deficit is a small one - just 52,000 tonnes in a 24-million tonne global market - but it's a dramatic change from the group's forecast this time last year, when it expected a chunky 280,000-tonne surplus. 

Oct 22 - After Sydney listing, Australia's Deterra eyes new mining royalty deals
Set to become Australia's biggest mining royalty company, Deterra Royalties Ltd lists shares in Sydney on Friday with plans to scout for new deals to diversify its portfolio beyond iron ore, its chief executive said on Thursday. Deterra, being spun off from mineral sands producer Iluka Resources Ltd is expected to join Australia's top 200 listed companies on its market debut, with a valuation of up to A$3 billion ($2.13 billion), according to an estimate from brokerage Shaw & Partners.

Oct 22 - Anglo maintains output targets despite drop in Q3 output
Anglo American Plc on Thursday maintained most of its production targets, as it posted a year-on-year fall in third-quarter output reflecting maintenance at its Minas-Rio iron ore mine in Brazil and the suspension of its Grosvenor metallurgical coal operations in Australia. In the three months to September, overall production fell 3% with diamonds, platinum, iron ore and coal down, while copper and manganese production rose. 

Oct 22 - Glencore sees logic in keeping coal, the market may disagree: Russell
Glencore wants to keep its coal mines but run them down over time, believing that this will be a better outcome for the climate than selling them to another operator or spinning them into a new company. While it's arguable that this is actually a better outcome for the environment, it's also possible that Glencore is setting itself up for a conflict with shareholders, both existing and potential, who are likely to demand firmer action on coal than a long goodbye, even if an extended exit is more profitable.

Oct 22 - Copper seen struggling to hit further highs in 2021 - poll
Copper prices will struggle to scale fresh peaks next year after a stunning recovery from coronavirus-related shocks in leading global consumer China, despite a wider deficit, a Reuters poll showed. Benchmark copper has raced up more than 50% from four-year lows touched in March, fuelled by Chinese stimulus spending. "While the rebound was dazzling, most of the positive surprise is now behind us and this should not continue to significantly support copper prices at these high levels," said Florent Pele, an analyst at Societe Generale in London.

Oct 22 - Steelmaker SSAB sees some demand recovery after Q3 loss
SSAB on Thursday reported a quarterly loss that was in line with analysts' estimates, as it took a hit from weaker demand and maintenance costs, but the Swedish steelmaker said activity had picked up towards the end of the quarter. SSAB, one of the top producers of heavy plate in the United States but which still counts Europe as its biggest market, added it expected steel demand to somewhat recover in the final months of the year. 

Oct 22 - Antofagasta reports Q3 copper output fall but keeps guidance
Chilean miner Antofagasta said on Wednesday output had dropped 4.6% in the third quarter compared with the previous three months and was likely to be at the lower end of its guidance for the year. Antofagasta produced 169,600 tonnes of copper during the third quarter, down from 177,700 tonnes in the second quarter, mainly due to major maintenance work at its flagship Los Pelambres mine and lower grades at its Antucoya operations.

Oct 22 - Q&A-Steel becomes next battleground in Thyssenkrupp dismantling
Sanjeev Gupta's non-binding offer for Thyssenkrupp's loss-making steel unit is the latest in a wave of consolidation moves across Europe's metals sector, which is blighted by overcapacity and in need of investment to make it more eco-friendy. 

Oct 22 - Colombia alluvial gold output area up 6%, two-thirds unlicensed - UN, gov't
The number of hectares being used for alluvial gold production in Colombia increased 6% last year, with two-thirds of the total unlicensed, the energy ministry and United Nations Office on Drugs and Crime (UNODC) said on Wednesday. Large-scale unlicensed gold mining, whether by crime gangs and leftist rebels or others, risks environmental damage in one of the world's most biodiverse countries.

Oct 21 - Apparent aluminium deficit drives up spot prices against longer dates
Shortages of aluminium for financing deals have significantly boosted prices of metal that can be bought for spot delivery or on physical markets against those for longer dated maturities such as three or six months ahead. Given a large market surplus, which Macquarie's Vivienne Lloyd estimates at 1.84 million tonnes this year, and aluminium inventories at 1.4 million tonnes in London Metal Exchange approved warehouses, the idea of shortages would seem to be contradictory.

Oct 21 - Lynas posts 8% jump in rare earth output as COVID-19 curbs ease
Australian rare earth producer Lynas Corp on Wednesday posted a 8.1% rise in first-quarter neodymium and praseodymium (NdPr) output as production normalized following the easing of coronavirus restrictions in Malaysia and Western Australia. The world's largest producer of rare earths outside China said production of neodymium and praseodymium (NdPr), used in everything from iPhones to weapons, rose to 1,342 tonnes in the quarter ended in September from 1,242 tonnes a year earlier. It was just under a UBS estimate of 1,350 tonnes.

Oct 21 - Swiss gold exports to Asia tumble as bullion flows to London
Switzerland's gold exports to China and India dwindled in September, with the country instead importing record volumes of bullion from Hong Kong and sending metal to Britain, customs data showed on Tuesday. The figures underline how Western investors have overtaken Asian jewellery buyers as the main driver of gold demand since the COVID-19 pandemic struck.

Oct 21 - China's daily output of refined copper in Sept recovers to pre-virus peak
China's refined copper output rose 10.3% year-on-year in September, the National Bureau of Statistics said on Tuesday, with smelters' average daily production recovering to the record level registered before the coronavirus outbreak erupted. The September total was up 1.7% from the previous month to 909,000 tonnes, the highest since the December 2019 record of 930,000 tonnes. Daily average output in September was 30,300 tonnes per day, matching the November 2019 record set before the pandemic took hold.

Oct 21 - Kinross Gold not 'under any pressure' to do deals, CEO says
Canadian miner Kinross Gold Corp is not under any pressure to do deals, Chief Executive Paul Rollinson said on Tuesday, tamping down a media report that said it was eyeing a London listing and the sale of its business in the Americas. Canada's Globe and Mail newspaper, citing anonymous sources, last week reported Kinross was considering moving its primary stock listing to London and selling its North and South American gold mines.

Oct 20 - BHP posts 7% rise in iron ore output, flags lower production in Dec quarter
BHP Group Ltd posted on Tuesday a 7.2% rise in first-quarter iron ore production, slightly above expectations, supported by stable demand from China, the world's top consumer of the steelmaking ingredient. As the world grapples with the fallout of the COVID-19 pandemic, major miners are hoping Beijing's commodity-intensive stimulus measures will deliver an economic rebound for China. 

Oct 20 - Brazilian miner Vale hints at fourth-quarter production boost
Brazilian mining company Vale SA reported on Monday an increase in iron ore output in the third quarter and predicted a further boost in fourth-quarter output at some units, as a number of mines ramp up production or come online. In a securities filing, the company said it produced 88.7 million tonnes of iron ore in the quarter, up 31.2% from the previous quarter and up 2.3% from the same period a year before, boosted by increased output at its Itabira and Timbopeba complexes and its Fazendao mine, all in southern Brazil.

Oct 20 - Small mining companies knocked for falling behind on diversity
Small mining firms are failing to increase their hiring of women while trading companies have made little progress in boosting Black representation, an industry conference heard on Monday. Employment of women in the traditionally male mining sector has risen and averages between 5% and 15%, Carole Cable, the chair of Women in Mining UK, told a virtual London Metal Exchange seminar. She did not say how much the proportion has increased.

Oct 20 - LME to boost electronic trading efficiency because of ring closure
The London Metal Exchange (LME) aims to improve its electronic trading system because it expects the COVID-19 pandemic will keep its open-outcry ring closed for many more months, its chief executive said on Monday. CEO Matthew Chamberlain told a virtual seminar that he was aware the LME might be accused of trying to shut the ring permanently, but he emphasised the need to enhance its electronic trading capability in the face of the pandemic. 

Oct 20 - China's Tianqi Lithium suffers 5th straight quarterly loss
China's Tianqi Lithium Corp on Monday said it made a net loss for a fifth consecutive quarter, piling further financial pressure on the heavily-indebted producer of lithium chemicals used in batteries for electric vehicles. Chengdu-based Tianqi posted a loss of 406.7 million yuan ($60.8 million) in the July-September quarter, according to a filing to the Shenzhen Stock Exchange. That was far wider than the 53.9 million yuan loss it recorded a year earlier and takes its losses for 2020 so far to 1.1 billion yuan. 

Oct 20 - Petra Diamonds agrees restructuring terms with noteholders and South African lenders
Africa-focused miner Petra Diamonds said on Tuesday it had an agreement with its noteholders and lenders to restructure the group and was abandoning a formal sale process after receiving no viable offers for the company. The diamond miner, which put itself up for sale in June as part of the restructuring process, said the agreement in principle included taking on new debt and converting debt to equity.

Oct 20 - Global copper market to see 69,000 tonne surplus in 2021, says ICSG
The global copper market should see a deficit of 52,000 tonnes this year and a surplus of 69,000 tonnes in 2021, the International Copper Study Group (ICSG) said on Monday. "After stagnant output in 2019, world refined copper production is expected to increase by about 1.5% in 2020 and 2021," the ICSG said in a release.

Oct 20 - Workers at Chile´s Codelco protest layoffs amid coronavirus pandemic
Workers at Chile´s state-run Codelco, the world's largest copper producer, took to the streets on Monday to reject layoffs announced by the sprawling mine company during the coronavirus pandemic. Leaders of the Federation of Copper Workers, an umbrella group that represents the company´s unions, toted banners and chanted "No more layoffs in a pandemic" and "Enough of layoffs and persecution against women" outside company's headquarters in the capital Santiago.

Oct 20 - China to allow imports of new-standard scrap metal from Nov. 1
China's government on Monday published customs codes for copper, aluminium and brass scrap that meet new standards that it said could be imported without restriction from Nov. 1, even after a ban on foreign solid waste takes effect at the end of this year. The long-awaited customs codes are 7404000030 for high-grade copper scrap, officially called "recycled copper raw materials," 7602000020 for aluminium scrap and 7404000020 for brass scrap, said a joint statement issued by China's environment, industry and commerce ministries and its customs administration. 

Oct 20 - Chile´s Candelaria copper mine to suspend operations amid union strikes
Chile´s Candelaria copper mine, owned by Canada's Lundin Mining, announced it planned to suspend operations beginning Tuesday after two of its unions called on their workers to begin strikes. In a statement late Sunday, the company said it made the decision to halt operations to ensure the safety of its workers.

Oct 19 - China crude steel output hits record daily high in September
China's daily crude steel output hit a record high in September, official data showed on Monday, rising 0.9% from the previous month as mills ramped up production to meet demand from infrastructure projects. For the month, production dipped 2.4% from August - which has an extra day - to 92.56 million tonnes, data from the National Bureau of Statistics (NBS) showed. That was up 11.8% from September last year.

Oct 19 - China aluminium output hits daily record in September
China's aluminium production rose in September from a year earlier as prices recovered and new smelters came online, official data showed on Monday, with daily output reaching a record high. The world's top producer of the metal churned out 3.16 million tonnes of primary aluminium in September, the National Bureau of Statistics said, up 7.9% from a year earlier.

Oct 19 - China's robust commodity imports lend credibility to economic growth story: Russell
China's gross domestic product numbers tend to spark debate as to whether they are an accurate reflection of the true state of growth in the world's second-biggest economy. The robust trend in commodity imports suggests they are. China's GDP expanded 4.9% in the third quarter, after rising 3.2% in the second, according to official data released on Monday. 

Oct 19 - Virtual LME Week another blow to exchange's physical past: Andy Home
Welcome to Virtual London Metal Exchange (LME) Week. No lavish cocktail rounds, no black-tie dinner at the Grosvenor House Hotel, no after-parties and no hung-over breakfast meetings. The great and the good of the global metals industry will this year definitely not be coming to London to indulge in what would be a mass breach of social distancing rules. 

Oct 19 - Australia's South32 posts higher metallurgical coal, manganese output
Australia's South32 Ltd on Monday posted a 12.8% jump in first-quarter metallurgical coal output supported by the reintroduction of a form of underground coal mining at the diversified miner's Illawarra project. The miner said it produced 1.9 million tonnes of metallurgical coal in the quarter ended September, up from 1.7 million tonnes a year ago, and 22% higher than in the fourth quarter. It added that the successful return to a three longwall mine configuration at Illawarra helped. 

Oct 19 - Glencore in talks with carmakers and battery makers about nickel, CEO says
Glencore CEO Ivan Glasenberg said on Friday that the company is talking with carmakers and battery makers about nickel - a key component in electric vehicle batteries which Tesla CEO Elon Musk has asked miners to produce more of. "A lot of the automobile guys and the battery guys are talking to us about nickel," Glasenberg said, speaking during the Financial Times Mining Summit. Glencore this year signed an agreement with Tesla to supply it with cobalt from the Congo.

Oct 19 - Barrick a 'long way off' deal with PNG in mine dispute, CEO says
Barrick Gold Chief Executive Mark Bristow said on Friday the Canadian miner was a "long way off" reaching agreement with Papua New Guinea (PNG) about the disputed Porgera gold mine. In April, Prime Minister James Marape had refused to extend the expired mining lease held by a venture of Barrick and its partner China's Zijin Mining, citing environmental and social problems. 

Oct 19 - Kinross Gold considers moving primary listing to London- The Globe and Mail
Canadian gold miner Kinross Gold Corp is considering moving its primary stock listing to London and selling its North and South American gold mines, The Globe and Mail reported on Friday, citing three sources familiar with the discussions. The miner is also considering doubling down on its portfolio of assets in Russia and West Africa, the report said.

Oct 19 - Global copper smelting activity extends rise in September - satellite data
Global copper smelting activity extended gains in September as Chinese operations came back online after maintenance closures, data from satellite surveillance of copper plants showed. North America, which rebounded in strongly in August, held at fairly strong levels, a joint statement from satellite service SAVANT and broker Marex Spectron said on Friday.

Oct 19 - Mexico deploys special police unit to protect Fresnillo gold mine
Mexican authorities on Sunday deployed more than a hundred specially trained police agents in the north of the country to safeguard the gold mine of a top mining company amid growing insecurity about organized crime. The agents are the first to be deployed as part of a newly created police unit and have been tasked with safeguarding the facilities of Fresnillo at the La Herradura gold mine in the northern border state Sonora as well as its workers.

Oct 16 - Rio Tinto warns fresh COVID-19 lockdowns to put global recovery at risk
Rio Tinto warned on Friday that a resurgence in coronavirus cases was putting global economic growth at risk, and that steel production outside China has sharply dropped even as stimulus measures prop up demand in the top consumer. Worldwide trade has been showing signs of recovery as countries emerge from lockdowns, but economists still see challenges with fresh outbreaks adding to the uncertainty about the path of the pandemic and its economic fallout.

Oct 16 - Barrick JV to remain operator of PNG's Porgera gold mine
Papua New Guinea Prime Minister James Marape said on Thursday that a joint venture of Barrick Gold Corp and China's Zijin Mining was set to remain operator of the Porgera gold mine following talks in Port Moresby. In April, Marape had refused to extend the expired mining lease of operator Barrick Niugini Ltd (BNL), citing environmental and social problems.

Oct 16 - China Merchants Securities to close London commodities brokerage
The British arm of China Merchants Securities (CMS) will close its commodities brokerage after a review of the business that aimed to align it with the group's global strategy, a letter seen by Reuters said. The letter did not detail the strategy. CMS's United Kingdom, Hong Kong and China offices did not respond to emailed requests for comment. Telephone calls to the London office were unanswered.

Oct 16 - Russia's Alrosa quarterly diamond production up 62%
Russian state-controlled diamond producer Alrosa's third-quarter production grew by 62% quarter on quarter to 9.2 million carats, it said on Friday. Sales of rough and polished diamonds were at $589 million in the third quarter, a near-sevenfold increase on the previous three months but down 4% year on year, Alrosa added.

Oct 16 - Shanghai exchange to list international copper contract next month
The Shanghai International Energy Exchange (INE) will next month list a much awaited international copper contract that will be open to foreign investors looking to hedge exposures in China, the Shanghai Futures Exchange (ShFE) said on Friday. The INE, which was expected to launch the copper contract as early as the end of the third quarter, currently offers international investors three Chinese futures contracts in crude oil, TSR 20 rubber and low-sulphur fuel oil.

Oct 16 - Liberty Steel set to bid for Thyssenkrupp steel unit - source
Privately-held Liberty Steel Group is set to make a bid for the ailing steel unit of Germany's Thyssenkrupp as soon as Friday, a source close to the process told Reuters on Thursday. A deal would combine the continent's fourth- and second-largest steelmakers and mark the latest attempt at large-scale consolidation in Europe after a planned joint venture between Thyssenkrupp and Tata Steel was blocked in 2019.

Oct 16 - Chile's Codelco says operations normal, aims to meet 2020 output targets
Chilean state-run copper miner Codelco is producing at full capacity and aims to meet its 2020 output targets, its chief executive said on Thursday, noting that the coronavirus pandemic was now under control with a low infection rate. The pandemic hit Chile in March, forcing Codelco, the world's top copper producer, to sharply reduce its workforce, adjust shift schedules and pause expansion projects.

Oct 16 - Nickel Mines to buy stake in Tsingshan Indonesian unit to boost output
Nickel Mines Ltd said on Friday it will buy 70% of Indonesia's PT Angel Nickel Industry (ANI) for $490 million in a deal that it says will double its nickel production within two years. The Australian miner will buy the stake from a unit of Tsingshan Group, the world's largest stainless steel producer, and build four rotary kiln electric furnace lines in Weda Bay Industrial Park (IWIP) on Halmahera Island in Indonesia's North Maluku province.

Oct 16 - Steelmakers set to hike prices in Brazil, BTG says
Steelmakers Usiminas, CSN and ArcelorMittal SA are planning to hike prices of steel for November delivery in Brazil, analysts at investment bank BTG Pactual wrote in a note to clients on Thursday. "Our channel checks have confirmed that CSN, Usiminas and ArcelorMittal are announcing another flat steel price hike for the distribution chain," analysts Leonardo Correa and Caio Greiner wrote in the note.

Oct 15 - Gold mines will produce more than ever in 2021 - Metals Focus
The world's mines will produce 3,368 tonnes of gold this year, down 4.6% from 2019 and the lowest in 5 years, but high bullion prices will help to push up output by 8.8% to a record 3,664 tonnes in 2021, consultancy Metals Focus said on Wednesday. Demand for gold, meanwhile, will fall 25% this year to about 3,000 tonnes before recovering 17% in 2021, the consultant's head of mine supply, Adam Webb, said in a webinar. 

Oct 15 - It's time to rethink tin, the forgotten critical mineral: Andy Home
There's a tingle of excitement in the tin market. It helps that the metal has weathered COVID-19 relatively well. At a current $18,300 per tonne, the London Metal Exchange (LME) price is up 6.5% on the start of 2020 and nudging against September's one-year high of $18,510. 

Oct 15 - China to add 3 mln T of aluminium capacity in 2021 – Antaike
China will launch another 3 million tonnes of annual aluminium production capacity in 2021 - more than half of it in the emerging smelting hub of Yunnan province, research house Antaike said on Wednesday. Abundant hydropower for the energy-intensive smelting process has brought major aluminium producers like China Hongqiao Group to Yunnan after the government, which plans to limit capacity to about 45 million tonnes, said companies would need to be in clean-energy-rich areas to keep developing. 

Oct 15 - China coal supplies to tighten this winter on import curbs, strong demand
China's coking and thermal coal markets are set to tighten over the remainder of 2020 as stringent import restrictions curb supply at a time of robust demand from heavy industry, and with the winter heating season about to kick in. China, the world's top coal consumer, reportedly informed key buyers to avoid Australian coal last week, part of a broader move to limit imports that also inflamed already-fraught trade ties between Beijing and Canberra. 

Oct 15 - BHP says Chinese coal customers have made deferment requests
BHP Group has received deferment requests from Chinese coal customers, Chairman Ken MacKenzie said on Wednesday, after reports that China had put a freeze on accepting Australian coal amid trade tensions between the two countries. "We understand there may be some new developments relating to how China plans and moderates imports versus its own domestic coal production," MacKenzie told reporters. 

Oct 15 - Pure Minerals inks non-binding deal with LG Chem for supply of nickel, cobalt
Australia's Pure Minerals said on Thursday it signed a non-binding offtake agreement with South Korean battery supplier LG Chem Ltd for the supply of nickel and cobalt. LG Chem, which counts Tesla Inc and Hyundai Motor Co as customers, will look to buy 10,000 tonnes of nickel and 1,000 tonnes of cobalt from the company's Townsville Energy Chemicals Hub (TECH) in Queensland state. 

Oct 15 - State aid decision on Thyssenkrupp will take time - Germany's Scholz
Deciding on whether ailing conglomerate Thyssenkrupp is eligible for state aid will be a lengthy task, Germany's Finance Minister Olaf Scholz said on Wednesday. "The process of assessing this specific situation is starting now," Scholz told Reuters on Wednesday, adding a thorough review was required that would take some time.

Oct 15 - New China steel scrap standards to be issued by end-2020 – Xinhua
China is expected to issue new standards for steel scrap at the end of 2020, the official Xinhua news agency reported, in a move that will allow material meeting them to enter the country after a ban on solid waste imports goes into effect. Beijing currently categorises most scrap metal as solid waste, imports of which will be banned from the end of this year, but has already made some exceptions on the nonferrous side that will allow certain high-grade shipments to continue.

Oct 15 - India's Hindustan Zinc to set up smelter in Gujarat state
India's Hindustan Zinc Limited plans to set up a smelter in the western state of Gujarat, it said on Wednesday, potentially increasing the company's zinc refining capacity by a third. Hindustan Zinc, which is majority owned by Vedanta, signed a memorandum of understanding (MoU) with the state government of Gujarat to set up a zinc smelter with annual capacity of 300,000 tonnes.

Oct 14 - EU eying carbon border fees plan for steel, cement and power - senior official
The European Union's plan to impose carbon border fees on polluting imported goods would initially apply to steel, cement and electricity, but could expand to more sectors later, a senior official said on Tuesday. As part of its aim to cut EU greenhouse gas emissions to net zero by 2050, the European Commission is drafting plans to levy the fees on goods coming into the 27-country bloc.

Oct 14 - Supervisors at Chile's Escondida copper mine extend negotiations for another day
Supervisors at Chile's Escondida mine and mine operator BHP decided on Tuesday to extend negotiations over a labor contract for another day in a last-ditch attempt to stave off a strike at the world's largest copper deposit, the union told Reuters. The union of supervisors at Chile's Escondida mine last week rejected BHP's final offer in contract negotiations, but the mining company agreed to meet again with the union on Tuesday. 

Oct 14 - Congo extends copper concentrate export ban waiver to April 2021
Democratic Republic of Congo has issued a six-month waiver to an export ban on copper concentrate, the mining minister said in a letter seen by Reuters on Tuesday. Congo, the world's leading producer of cobalt and Africa's biggest copper producer, banned exports of copper and cobalt concentrates in 2013 to encourage miners to process and refine the ore in the country.

Oct 14 - EU imposes tariffs on aluminium products from China
The European Union will impose duties of up to 48% on imports of aluminium extrusions from China midway through an investigation into whether Chinese producers are selling at unfairly low prices. The EU official journal said on Tuesday that the duties, ranging from 30.4 to 48.0%, would apply from Wednesday.

Oct 14 - Lundin Mining to meet Candelaria workers amid strike, union chief says
Canada's Lundin Mining will meet on Wednesday with the Mina union at its Candelaria copper deposit in Chile in a bid to resume talks to end a strike that began last week, the union's head said on Tuesday. The union walked off the job last Thursday after list-ditch talks broke down over a contract deal. 

Oct 14 - China's Henan Shenhuo eyes Q1 start for second phase of Yunnan smelter
China's Henan Shenhuo Group expects to start production by the first quarter of next year at the second phase of its 900,000 tonnes per year aluminium project in the southwestern province of Yunnan, an official said on Wednesday. The second phase of the project in Wenshan prefecture will have annual capacity of 450,000 tonnes, Li Zhongyuan, general manager of listed unit Henan Shenhuo Coal & Power said on the sidelines of an industry conference.

Oct 14 - Norsk Hydro steps up sustainability drive with two new divisions
Aluminium producer Norsk Hydro is setting up two new divisions called Renewables Growth and Batteries as it increases its focus on sustainability, the company said on Tuesday. Hydro supplies aluminium, which is highly energy intensive to make, to a range of industries including the construction and automotive industry, among others.

Oct 14 - BHP delays sulphate output until 1H 2020, pushes green battery supply chain
BHP Group will begin production of nickel sulphate by the middle of next year as it focuses on improving the green credentials of operations that will supply battery materials to the automotive industry, an executive said on Tuesday. BHP said in August last year that it planned to start nickel sulphate production at its Kwinana plant, south of Perth, by the second quarter of 2020, before development was delayed due to complex engineering required to make the high purity product.

Oct 13 - China September copper imports edge up, near record highs 
China's copper imports rose in September from the previous month, official data showed on Tuesday, as recovering factory activity boosted demand for the ductile metal even after the closure of an arbitrage window made purchases more expensive. Arrivals of unwrought copper and copper products stood at 722,450 tonnes last month, the General Administration of Customs said, close to record import levels of 762,210.9 in July.

Oct 13 - China's iron ore imports boosted by Brazil, Australia supplies 
China's iron ore imports in September rose thanks to a combination of a supply lift from major miners and easing port congestion, with the coming months pointing to further solid supplies from key players Brazil and Australia. Iron ore shipments in September rose 8.2% from the prior month, and 9.3% from a year ago to 108.55 million tonnes, official data from China's customs authority showed on Tuesday.

Oct 13 - Funds' faith in turbulent copper stirred, but not shaken: Andy Home 
Fund managers have trimmed their exposure to copper after a mini price crash over the first two days of the month. This looks to be no more than a blow-off of speculative froth accumulated on copper's long march higher from the COVID-19 lows in March.

Oct 13 - Thyssenkrupp CEO: government stake one option to fix steel unit 
Thyssenkrupp will consider all options, including selling a stake to the German government, in its plans to fix its ailing steel unit, Chief Executive Martina Merz said. "State participation is one option," Merz said on Monday at an industry event, days after labour union IG Metall called on Berlin to rescue Germany's largest steelmaker.

Oct 13 - Aboriginal group say Fortescue has applied to mine near destroyed caves 
An Australian Aboriginal group whose sacred rockshelters Rio Tinto destroyed in May said on Monday that iron ore miner Fortescue Metals Group applied last month for a mining licence on the surrounding area without notifying them. Speaking at an Australian parliamentary inquiry into the Juukan Gorge disaster, in which Rio Tinto destroyed a 46,000 year old rockshelter in Western Australia that shed light on humankind's development, cultural heritage expert Heather Builth said traditional owners had worked hard to secure a moratorium with Rio over the area after the blast. 

Oct 13 - Caterpillar bets on self-driving machines impervious to pandemics 
Question: How can a company like Caterpillar try to counter a slump in sales of bulldozers and trucks during a pandemic that has made every human a potential disease vector? Answer: Cut out human operators, perhaps? Caterpillar's autonomous driving technology, which can be bolted on to existing machines, is helping the U.S. heavy equipment maker mitigate the heavy impact of the coronavirus crisis on sales of its traditional workhorses.

Oct 13 - Russia Alrosa sees diamond sales stabilising in fourth quarter 
Russian state-controlled diamond producer Alrosa expects its fourth-quarter sales to stabilise year on year as demand for precious stones is recovering, its chief executive, told a meeting with President Vladimir Putin on Monday. Alrosa, the world's largest producer of rough diamonds, has been hit by the coronavirus pandemic, although demand started to recover in August.

Oct 12 - Freeport does a balancing act as world's biggest gold mine grapples with COVID-19
When miners at Indonesia's giant Grasberg gold and copper mine started testing positive for coronavirus early in the pandemic, the mountain-top mining complex was quickly locked down with a skeletal staff left in place to maintain production. But as months of travel curbs dragged on, angry workers blockaded the mine for four days in August until the operator - a unit of U.S. miner Freeport McMoRan Inc - relented and let them resume weekly rotations out of the site via a four-hour trek by cable car and bus to towns below.

Oct 12 - Trump steel tariffs bring job losses to swing state Michigan
President Donald Trump promised a new dawn for the struggling U.S. steel industry in 2016, and the lure of new jobs in Midwestern states including Michigan helped him eke out a surprise election win. Four years later, Great Lakes Works - once among the state's largest steel plants - has shut down steelmaking operations and put 1,250 workers out of a job. 

Oct 12 - Supervisors at Chile's Escondida copper mine reject final labor deal, negotiations to continue
The union of supervisors at Chile's Escondida mine rejected BHP's final offer in contract negotiations on Friday, but the mining company said it would nonetheless meet again with the union in a last-ditch effort to stave off a strike. A tally viewed by Reuters showed 78% of the union´s members voted against the offer. 

Oct 12 - Asia Gold-India flips to premium as jewellers bank on festive revival
Physical gold was sold at a premium in India this week for the first time since mid-August as jewellers stocked up, hoping key festivals would bring customers back to stores. Indians will celebrate Dussehra in late October and Diwali and Dhanteras in November, when buying gold is considered auspicious. 

Oct 12 - Speculators raise bullish bets on COMEX gold - CFTC
Hedge funds and money managers increased their bullish positions in COMEX gold and cut them in silver contracts in the week to Oct. 6, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also reduced their net long positions in copper futures and options, the CFTC data showed.

Oct 12 - Brazil's Vale enters JV to expand Chinese port – filing
Brazilian miner Vale SA has teamed up with China's Zhoushan Port Company Ltd to build and operate Project West III in the port of Shulanghu, according a securities filing on Friday, a strategic logistics alliance to serve the world's largest iron ore importer. Vale said it will have 50% of the JV, adding the port project expansion will demand multi-annual investments of about $624 million.

Oct 12 - Poland's JSW to focus solely on coking coal
Poland's JSW, the European Union's biggest coking coal producer, said it wants to focus solely on the fuel used in steelmaking and exit the more polluting thermal coal. Coking coal accounts for 80% of JSW's output, and thermal coal for 20%. 

Oct 12 - Thyssenkrupp opens books in sale of plant-building unit
Thyssenkrupp has begun due diligence with potential bidders for its plant division as the German conglomerate accelerates a radical overhaul to sell or turn around ailing business units in the next two years, a top executive told Reuters. In his first interview, Volkmar Dinstuhl, who oversees the divestment of non-core assets, said the company has opened the books to buyers of its plant-building units and received expressions of interest for its stainless steel division.

Oct 12 - S.Africa's Exxaro in talks to sell stake in Vedanta Zinc's Black Mountain Mining
South African coal miner Exxaro said on Friday it was at advanced stage negotiations over the sale of its 24.4% stake in Vedanta Zinc International's Black Mountain Mining (BMM)operations but had not yet finalised the transaction. Exxaro, which also has interests mineral sands, iron ore and energy, said the decision was made after a strategic review of its portfolio concluded that zinc mining was not aligned to the it's long-term objectives.

Oct 12 - Ghana finance ministry says gold royalty fund IPO on hold
Ghana's finance ministry said on Friday that the $500 million listing of its gold royalty fund Agyapa Royalties in London would be put on hold until a risk assessment by the Office of the Special Prosecutor is completed. It didn't say when the assessment would be completed.

Oct 09 - ETFs amass record 1,003 tonnes of gold in year to end September - WGC 
Gold-backed exchange traded funds (ETFs) added more than 1,000 tonnes of bullion worth $60 billion at current prices to their stockpile in the first nine months of 2020, driving a sizzling price rally, the World Gold Council (WGC) said on Thursday. ETFs, which store gold for investors, added 68.1 tonnes of gold to their hoard in September, taking their purchases so far in 2020 to 1,003 tonnes, the WGC said. 

Oct 09 - Australia's Port Hedland iron ore exports to China dip in September 
Iron ore shipments to China from Australia's Port Hedland fell 1% in September from a month earlier, data from the Pilbara Ports Authority showed on Friday. Iron ore exports to China from Port Hedland in September fell to 39.74 million tonnes from 40.16 million tonnes in August, but rose from 36.05 million tonnes a year earlier. 

Oct 09 - Canada nickel miners burnish green credentials in EV rush 
Mineral-rich Canada has potential to become a preferred supplier of cleaner nickel to power electric vehicles (EV), miners say, as automakers scour the globe for more environmentally friendly supplies of the metal. Miners from industry giant Vale SA to junior explorers Canada Nickel Co Inc and FPX Nickel Corp are touting low-carbon nickel in hopes of wooing automakers who have stepped up scrutiny of mining practices for key metals used in batteries, from cobalt to copper and lithium.

Oct 09 - ArcelorMittal to permanently close Polish steel plant 
ArcelorMittal has decided to permanently close its blast furnace and steel plant in Krakow, southern Poland, the company said in a statement, as the coronavirus pandemic takes a heavy toll on demand. The steel producer temporarily closed the Krakow steel operation in November, citing rising costs and a weakening outlook for the market. It said on Thursday that due to the fact that a fast recovery in steel demand was now unlikely it was taking permanent steps.

Oct 09 - Union at Chile´s Candelaria copper mine begins strike 
A union of workers at Lundin Mining´s Candelaria copper mine in Chile walked off the job on Thursday after talks broke down earlier this week, the head of the union told Reuters. The Canadian miner had requested government mediation in September in a last-ditch effort to stave off a strike after failing to reach a contract deal, but the talks did not bear fruit.

Oct 09 - Newcrest approves flagship Cadia mine's expansion, Lihir's recovery 
Newcrest Mining Ltd's board has approved the second-stage expansion of its flagship Cadia gold mine and Lihir mine's front-end recovery project, Australia's top gold producer said on Friday. The projects, estimated to cost about $236 million, will boost gold production and recoveries at the two mines that reported lower output in the fourth quarter.

Oct 09 - Trafigura plans to restart Congo copper mine, prime minister says 
Trafigura intends to restart its copper mine in Democratic Republic of Congo, the prime minister's office said following a meeting with the commodity trader on Thursday. Trafigura's head of mining Emmanuel Henry told Prime Minister Sylvestre Ilunga Ilunkamba the mine had faced operational difficulties because of unstable copper prices, but aims to reopen after a temporary closure, the office's statement said.

Oct 09 - Chile lithium miner SQM says to slash water, brine use at Atacama 
Chilean miner SQM said late Thursday it would immediately slash its use of both fresh water and lithium-rich brine from Chile's Atacama salt flat in a push to reduce the overall impact of its operations. The announcement comes two months after SQM lost a high profile legal battle that forced it to begin again on a plan to make amends for over-pumping brine from the environmentally sensitive Atacama. The salt flat is home to nearly one-quarter of the world's current supply of lithium, a key ingredient in the batteries that power electric vehicles.

Oct 09 - Supervisors at Chile's Escondida copper mine to vote on labor deal, strike risk remains 
The union of supervisors at Chile's Escondida mine, the world's largest copper deposit, began voting on Thursday on a new contract offer from majority owner BHP Group Ltd in a bid to stave off a strike. The union told Reuters that voting on the proposal would continue on Friday.

Oct 08 - Central banks sold gold in August as price rally stalled 
The world's central banks sold more gold in August than they bought, the World Gold Council (WGC) said on Wednesday, ending a year and a half-long run of monthly gold accumulation and helping stall a rapid rise in gold prices. Gold surged from just over $1,500 at the start of 2019 to a record high of $2,072.50 in early August, before slipping to around $1,900.

Oct 08 - Barrick CEO calls for consolidation and warns of reserve crisis 
Barrick Gold CEO Mark Bristow on Wednesday said the gold industry in Africa should consolidate further, as he warned of a "serious reserve crisis" looming for the sector. A dearth of exploration has seen average mine life across the gold mining sector fall from 20 years to closer to 10 years, he added, speaking at the Joburg Indaba mining conference.

Oct 08 - Aurubis expects stable copper refining charges next year 
Charges to refine copper concentrate (ore) into metal should remain stable in 2021 as the copper industry has come through the coronavirus crisis well, a senior executive at Aurubis, Europe's largest copper refiner, told Reuters on Wednesday. “Mines are working at high capacity and ever more concentrate is coming onto the market,” said Michael Hellemann, Aurubis’ senior vice president, commercial. “I think we are facing comfortable concentrate supplies in 2021.”

Oct 08 - UAE-Israel accord could bring new sparkle to Dubai diamond trade 
The week that Israel and the United Arab Emirates normalised ties, Israeli diamond trader Zvi Shimshi headed to the United Arab Emirates to open a company in Dubai, a regional trade hub that is a major centre for the precious stones. He is among 38 Israelis whom the Dubai Multi Commodities Centre (DMCC), home to Dubai Diamond Exchange, said have recently contacted it to set up a presence, in a sign of how shifting regional politics could alter global trade dynamics.

Oct 08 - China's import boom heralds deeper rift in aluminium: Andy Home 
China's imports of unwrought aluminium rose again in August, extending a rare inversion of normal trade patterns. Combined imports of primary metal and unwrought alloy totalled 393,000 tonnes, just shy of the previous record of 394,000 tonnes in April 2009. 

Oct 08 - Indonesian state miner completes 20% stake buy in Vale unit for $375 mln 
Indonesia's state miner Mining Industry Indonesia (MIND ID), formerly known as PT Inalum, completed its purchase of a 20% stake in nickel miner PT Vale Indonesia, the country's state- owned enterprises ministry said on Thursday. MIND ID bought the 20% stake at 2,780 rupiah per share, totaling to 5.52 trillion rupiah ($375.77 million), the ministry said in a statement. 

Oct 08 - Labour talks loom in top copper producer Chile 
Copper prices have been supported recently by concern about potential strikes in Chile, the world's biggest copper producer. Two of five labour unions at the Candelaria copper mine in Chile rejected a contract offer from Canada's Lundin Mining, union officials said on Monday, raising the possibility of a strike.

Oct 08 - India's coal imports improve somewhat, but recovery is uneven: Russell 
India's coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick - shipments rose for higher-grade coking and thermal grades, but slid for lower-rank fuel used mainly in power plants. India's total coal imports in September were estimated at 14.62 million tonnes by Refinitiv vessel-tracking and port data, up from 12.97 million in August.

Oct 08 - Anglo American wants to explore base metals in South Africa 
Anglo American wants to explore for base metals in South Africa, but the country needs regulatory changes to make it more competitive with other mining jurisdictions, CEO Mark Cutifani said on Wednesday. Policy uncertainty, insecurity of tenure and unreliable electricity supplies have stifled investment in Africa's most industrialised economy, where the mining industry contributes around 9% to GDP.

Oct 08 - Amazon mining overlaps 20% of indigenous land, worsening deforestation - report 
Mining concessions and illegal mining operations overlap more than a fifth of indigenous land in the Amazon, causing higher deforestation rates, said a report published on Wednesday. Some 1.5 million indigenous people live in the Amazon, where mining activities affect some 445,000 square kilometers of their lands, said a report from the World Resources Institute (WRI) and the Amazon Network of Georeferenced Socio-Environmental Information (RAISG). 

Oct 08 - EU imposes import duties on China, Indonesia, Taiwan stainless steel 
The European Union will impose tariffs on imports of hot-rolled stainless steel coils and sheets from China, Indonesia and Taiwan after an investigation found they were being sold at artificially low prices. The European Commission, which conducted the investigation, has set duties of up to 19% for imports from China, of 17.3% for product from Indonesia and up to 7.5% for stainless steel from Taiwan, the EU's official journal said on Wednesday.

Oct 08 - Philippines turns to idle mining assets to raise extra revenue 
The Philippine government is seeking to raise additional revenue by pushing for the resumption of operations at idle state-owned mining projects, including through the sale of its Nonoc nickel assets, Finance Secretary Carlos Dominguez said on Wednesday. The Privatization and Management Office, an agency under Dominguez, has reviewed state mining assets that could be sold, as the government scrambles for funds to meet increased spending aimed at resuscitating a pandemic-hit economy.

Oct 07 - BHP freezes membership of Australian state mining lobby over Greens campaign 
BHP Group Ltd has suspended its membership of an Australian state mining lobby group that has campaigned against the Greens political party ahead of an election this month in coal-rich Queensland state. Global miner South32 Ltd also said it had formally raised concerns with the group, the Queensland Resources Council, about campaigning aimed at a particular political party.

Oct 07 - Brazil judge denies request to freeze 26.7 billion reais in Vale accounts 
A Brazilian judge denied a request to freeze 26.7 billion reais ($4.81 billion) in miner Vale SA's accounts, the courthouse said on Tuesday, in a decision related to losses incurred after the Brumadinho tailings dam burst last year. The decision is a setback for prosecutors, who have been taking a series of legal actions against the company related to the disaster, which unleashed an avalanche of mud that killed an estimated 270 people in Brumadinho city, burying many of them alive.

Oct 07 - India's Sept gold imports fall 59% y/y to 4-month low - govt source 
India's gold imports in September fell 59% from a year earlier to the lowest level in four months, a government source said on Tuesday, as a drop in prices from a record high failed to lure buyers, which were postponing purchases anticipating bigger drop. The world's second-biggest consumer of the precious metal imported around 11 tonnes of gold in September, down from 27 tonnes a year ago, the source said.

Oct 07 - Freeport's Stephen Higgins to head LME's Copper Committee 
Freeport McMoRan's Stephen Higgins is the new Chairman of the London Metal Exchange's Copper Committee, the exchange's website showed on Tuesday, replacing Christian Schirmeister who retires at the end of October. Senior vice president and Chief Administrative Officer at Freeport, Higgins is one of the longest serving members of the committee with decades of copper industry experience. 

Oct 07 - Crowd attacks office of biggest Kyrgyz gold miner - media 
Dozens of unidentified people tried to break into the office of Canadian-owned Kumtor Gold Company in the Kyrgyz capital of Bishkek on Wednesday, Russian news agency TASS and news website said. Several miners had reported attacks on their offices and facilities a day earlier amid widespread unrest in the Central Asian nation. Kumtor, which accounts for the bulk of Kyrgyz gold output, is owned by Canada's Centerra Gold.

Oct 07 - Ghana suspends gold royalty fund's London listing -finance ministry letter 
Ghana has suspended the $500 million listing of its gold royalty fund Agyapa Royalties in London following concerns raised by the main opposition party about transparency and governance, a finance ministry letter reviewed by Reuters showed. In an Oct. 1 letter to the special prosecutor, deputy finance ministry Charles Adu Boahen said the government would delay the Initial Public Offering (IPO), following criticism by the opposition National Democratic Congress opposition party.

Oct 07 - Nationalisation of Thyssenkrupp not the right step - Altmaier 
Germany on Tuesday downplayed hopes for a state bailout of the ailing steel unit of loss-making conglomerate Thyssenkrupp. The comments by Economy Minister Peter Altmaier came shortly after IG Metall, Germany's most powerful union, called on the government to take a stake in the business, which has been badly hit by the fallout from the coronavirus crisis.

Oct 07 - Japan Oct-Dec crude steel output forecast to fall 10.7% y/y – METI 
Japan's crude steel output is forecast to fall 10.7% in the October-December quarter from a year earlier, to 21.11 million tonnes, the Ministry of Economy, Trade and Industry said on Wednesday. Demand for steel products, including those for exports, is forecast to drop 10.1% to 19.45 million tonnes in October-December versus a year earlier, the ministry said, citing an industry survey.

Oct 06 - Gold gleams anew in Australia as Northern Star, Saracen agree to create $11.5 bln miner 
Australian gold miner Northern Star Resources on Tuesday offered to buy smaller peer Saracen Mineral Holdings in an agreed A$5.76 billion ($4.14 billion) deal that will create a global top-10 gold miner by market value. In a joint statement, the boards of both companies backed the shares and cash proposal, which would create a roughly $11.5 billion company, the 8th biggest gold miner in the world by market capitalisation.

Oct 06 - Chilean workers union rejects Lundin offer at Candelaria mine, strike chances raised 
A workers union at the Candelaria copper mine in Chile rejected a contract offer from Canada's Lundin Mining, union officials said on Monday, raising the possibility of a strike. The offer was rejected with 94.34% of the 548 members voting against it, according to a document seen by Reuters. 

Oct 06 - Peru miners aiming for full-strength workforce by year-end, minister says 
Peru's miners hope to have their workforce back up to full strength by the end of the year, the country's energy and mines minister said on Monday, as the world's No. 2 copper producer ramps up after being slammed by the coronavirus pandemic. Minister Miguel Inchaustegui said the reduced workforce was affecting output and construction of new mines, such as Anglo American's $5.3 billion Quellaveco project in the country's south.

Oct 06 - Australia's Newcrest Mining cleared to trade on TSX from Oct 13 
Australian gold miner Newcrest Mining said on Tuesday it has received conditional approval to list on the Toronto Stock Exchange (TSX) and will begin trading on Oct. 13. The listing comes after Newcrest last year acquired a 70% joint venture interest in the Red Chris mine in British Columbia, Canada from Toronto-listed Imperial Metals Corp. 

Oct 06 - South Africa amends price system for scrap metal to aid industry 
South African authorities have amended the pricing system of scrap metal following complaints from the steel and other metal-producing sectors, the trade ministry said on Monday. The ministry had been told by the metal industries that the system was harming their business and constraining their recovery from the effects of the COVID-19 pandemic. 

Oct 06 - UK court overturns Venezuela judgment in $1 bln gold tug-of-war 
A tug-of-war over $1 billion worth of Venezuelan gold stored at the Bank of England took a new turn on Monday as the English Court of Appeal overturned an earlier High Court ruling on who the UK recognised as Venezuela's president. The Court of Appeal granted the Nicolas Maduro-backed Banco Central de Venezuela’s (BCV) appeal and set aside July's High Court judgement, which had found that Britain's recognition of opposition leader Juan Guaidó as "constitutional interim president of Venezuela" was conclusive.

Oct 06 - Nippon Steel to resume a blast furnace in Kimitsu in late Nov 
Japan's largest steelmaker Nippon Steel Corp said on Tuesday it will resume in late November a blast furnace in Kimitsu, eastern Japan, that was suspended to cope with lean demand due to the COVID-19 pandemic. Four other blast furnaces of Nippon Steel are also currently suspended, with Muroran in northern Japan being planned to restart in late November after maintenance. 

Oct 06 - Amalgamated Metal Trading eyes expansion in Southeast Asia 
UK-based Amalgamated Metal Trading (AMT) has opened an office in Singapore with a view to expanding its non-ferrous, ferrous and precious metals client base in Southeast Asia and Australia, the company said in a statement. AMT's history can be traced back to the founding members of the London Metal Exchange, of which it is a Category 1 member. 

Oct 06 - Nornickel disputes environmental cost of Arctic fuel spill 
Russia's Norilsk Nickel estimates the environmental cost of a huge fuel spill in the Arctic in May is 21.4 billion roubles ($273 million), far less than an assessment by the country's environment watchdog, which has begun court action. The spill released 21,000 tonnes of diesel into rivers and subsoil near the city of Norilsk in Siberia. Greenpeace has compared the incident to the 1989 Exxon Valdez oil spill off Alaska and Russian President Vladimir Putin voiced fury over the leak in a television address in June.

Oct 05 - Chile's Codelco copper production flat in August, key mines mixed 
Chilean state copper giant Codelco saw production of the red metal hold steady in August, with other major mines in the country mixed, government figures released on Friday showed. The national copper commission Cochilco said that output at Codelco, the world's largest copper miner, inched up 0.1% year-on-year to 154,800 tonnes for the month.

Oct 05 - Iron ore outlook is finely balanced as supply picks up, China demand holds up: Russell 
The price of iron ore is increasingly poised between a recovery in supply from exporters and still-robust demand from top importer China on the back on stimulus spending driving steel consumption. The return of supply, particularly from number two shipper Brazil, would in normal circumstances be a bearish indicator. But if 2020 has shown one thing, it's that it's a mistake to underestimate the impact of Beijing's efforts to boost the economy in the aftermath of the novel coronavirus.

Oct 05 - Miner Vale in talks with Tesla, EV sector for Canada nickel - executive 
Brazilian miner Vale SA is in talks with Tesla and others in the electric vehicle (EV) supply chain about securing nickel from its Canadian operations, the head of the miner's base metals unit said on Friday.  Tesla did not immediately respond to a request for comment.

Oct 05 - South African union threatens strike at coal and diamond mines 
South Africa's National Union of Mineworkers (NUM) threatened on Friday to call a strike at mining companies De Beers, Exxaro and Petra Diamonds after failing to reach wage agreements. NUM, one of the biggest mining unions in South Africa, said it had secured a certificate to stage a strike after talks on a wage settlement in mediation with the companies at the Commission for Conciliation, Mediation and Arbitration (CCMA) came to no agreement. 

Oct 05 - Colombia environmental authority shelves Soto Norte mine license application 
Colombia's environmental authority has shelved the licensing application for the proposed Soto Norte gold project as it was unable to reach a decision based on information supplied by Sociedad Minera de Santander S.A.S (Minesa), it said on Saturday. Owned by the government of Abu Dhabi through its investment arm Mubadala Investment Corp., Minesa's plans for the project - located in Colombia's Santander province - included producing some 410,000 ounces of gold per year with an estimated mine life of 20 years. 

Oct 05 - Nippon Steel yet to decide on resuming Kimitsu blast furnace 
Japan's largest steelmaker Nippon Steel Corp is yet to decide when to resume a blast furnace in Kimitsu that was suspended to cope with lean demand from automakers and construction projects amid the pandemic, a spokeswoman said. The Nikkei business daily reported on Saturday that Nippon Steel is considering resuming operations at Kimitsu blast furnace this year to reflect improving demand.

Oct 05 - Japanese copper smelter output seen rising despite weak domestic demand 
Japan's copper output in the second half of the 2020/21 financial year will rise 2.1% year on year, Reuters calculations from plans outlined by smelters showed, as solid exports to top buyer China will help outweigh the pandemic-hit local demand. Japan's biggest copper supplier Pan Pacific Copper (PPC), No.2 smelter Sumitomo Metal Mining and Furukawa Co Ltd have plans for higher output from October to March.

Oct 05 - Lundin Mining union in Chile says talks making "slow progress" 
Negotiations between Canada's Lundin Mining and the union at its Candelaria copper mine in Chile are making slow progress in their bid to avoid a strike at the deposit, the head of the mine's union told Reuters on Saturday. Canada's Lundin Mining requested government mediation late last month in a last-ditch effort to stave off a strike by one of its unions after failing to reach a contract deal. 

Oct 05 - Mali 2019 gold exports up 6.5%, says statistics agency 
Mali's gold exports rose 6.5% to 65.6 tonnes in 2019 compared with the previous year due to a rise in production, external trade data from the country's statistics agency showed on Saturday. The data, which was released with a considerable delay due to the coronavirus pandemic according to the agency, showed that Switzerland and South Africa were the main destinations for Mali's precious metal.

Oct 05 - Speculators cut bullish bets on COMEX gold - CFTC  
Hedge funds and money managers reduced their bullish positions in COMEX gold and increased them in silver contracts in the week to Sept. 29, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also cut their net long positions in copper futures and options, the CFTC data showed.

Oct 05 - EMR Capital seeks concessions to develop $1 bln Zambia copper mine 
Lubambe Copper Mine, majority-owned by Australia's EMR Capital, is talking to the Zambian government to seek concessions, including a tax break, to develop a new $1 billion copper mine, the company said on Friday. Lubambe has completed a concept study on the extension project that would produce up to 160,000 tonnes of copper annually with a mine life of more than 30 years, it said in a statement.

Oct 05 - MMG's Congo mine pauses production to switch from sulphide to oxide ore 
MMG's Congo subsidiary has halted production at its Kinsevere copper mine until end-April 2021 to prepare for a switch to mining sulphide ore from oxide ore. The production halt - effective Oct. 1 - affects the mine but not the processing plant, and MMG Kinsevere kept its 2020 production target unchanged at 68,000 to 75,000 tonnes of copper, the company said on Thursday.

Oct 02 - U.S. aluminium prices slip on talk of tariff exemptions for UAE, Bahrain 
Prices of aluminium for U.S. consumers in the transport, construction and packaging industries are sliding because the market is expecting exemptions for producers in the United Arab Emirates and Bahrain. This thinking follows agreements by the two Arab states to establish formal ties with Israel, which they signed at a ceremony hosted by U.S. President Donald Trump at the White House in September. 

Oct 02 - Brazil seeks to re-open $27 bln lawsuit against BHP, Vale 
Brazilian federal and state prosecutors have asked a court to re-open a multi-billion-dollar civil action lawsuit against miners Samarco, Vale SA and BHP for damages caused by the Fundao dam burst in 2015, authorities said on Thursday. The incident at Samarco's Mariana facilities, a joint venture between Vale and BHP, which left 19 dead and polluted the River Doce, was Brazil's biggest ever environmental disaster. The claim is for damages of 155 billion reais ($27.4 billion).

Oct 02 - Perth Mint's Sept gold sales dip; silver hits 5-month high 
The Perth Mint's sales of gold products in September fell for the first time in three months, the refiner said on Thursday, while silver sales were highest since April as a drop in prices perked up demand. Sales of gold coins and minted bars were down 7.2% month on month to 62,637 ounces last month, the mint said in a blog post.

Oct 02 - Gold miner Centamin's production outlook hit by delays at Sukari mine 
Centamin Plc on Friday forecast a fall in annual production as the gold miner delayed some open-pit mining operations at its key Sukari mine in Egypt for safety reasons. Centamin said it detected a movement in Sukari's open pit Stage 4 West wall using a radar system and decided to immediately defer the open-pit mining operations in this zone, which were scheduled to start during the fourth quarter of 2020. 

Oct 02 - India's April-August steel consumption lowest in six years - government data 
India's domestic steel consumption during April-August dropped to its lowest in at least six years, government data analysed by Reuters showed, underlining the economic slowdown and slump in infrastructure spending. Steel consumption, in the first five months of the fiscal year, was at 27.4 million tonnes, a 35% fall over last year, data showed. The reading was also the lowest since data was collated in the current form beginning with the fiscal year April 2014-March 2015. 

Oct 02 - Brazil's Vale says 33 out of 104 dam structures fail stability assessments 
Brazilian miner Vale said on Thursday that 33 out of 104 dam structures across Brazil failed to receive positive stability assessments from the company's dam monitoring system. Of those dams that have not received positive stability assessments, 32 are in the firm's ferrous metals operations, it said in a securities filing. Vale said 71 of its dams received positive stability assessments.

Oct 02 - Brazil 2020 steel output seen down 6.4% from last year - industry group IARB 
Brazil's steel production this year is expected to fall 6.4% from last year, the country's steelmaker trade group Instituto Aço Brasil (IABR) said on Thursday, less than the 13.4% decline projected three months ago. In a presentation, IABR also said it expects steel sales in Brazil to fall 3.1% this year, considerably lower than the 12.1% slump forecast in July.

Oct 02 - Japan's Pan Pacific sees 3% y/y rise in second-half copper output 
Pan Pacific Copper plans to produce 305,200 tonnes of refined copper in the second half of financial year 2020/21, up 3.2% from a year ago, Japan's biggest supplier of the metal said on Friday. The country's second half runs from October to March.

Oct 02 - Sierra Leone court lifts Octea asset freeze after complaint thrown out 
The High Court of Sierra Leone in Freetown has dismissed one of several legal complaints against Octea, a subsidiary of Israeli billionaire Beny Steinmetz's BSG Resources (BSGR), on jurisdictional grounds, a court ruling shows.  A lawsuit against Octea subsidiary Koidu Limited and related companies was filed in February by 15 individuals who say that their property, livelihoods or health suffered because of operations at a diamond mine in eastern Sierra Leone, according to the complaint. 

Oct 02 - Ex-Mercuria trader Leon joins Tennant Metals as head of concentrates 
Former Mercuria Energy metals trader Jose Leon has joined Tennant Metals as head of concentrates, he said on his LinkedIn profile on Thursday. Leon, who spent six years at Mercuria in Switzerland as global head of concentrates before leaving at the end of 2019, said he joined Tennant last month and will relocate to London for the role.

Oct 01 - Chilean government sees $74 billion dollars in mining investments over a decade 
Chile expects $74 billion in mining investment in the next decade, driven mainly by the copper industry, the country´s top exporter, state copper agency Cochilco, said on Wednesday. The roster of investments includes sprawling projects from such top global miners as Antofagasta Plc, Lundin Mining Corp, Teck Resources Ltd and Kinross Gold Corp. But the agency noted that 23 projects valued at $44 billion have been delayed because of coronavirus.

Oct 01 - Trump issues fresh rare earth mining executive order 
U.S. President Donald Trump on Wednesday ordered his Cabinet secretaries to look into the country's reliance on rare earths in his latest bid to end China's dominance of the industry. The move could lead to tariffs, quotas or other possible import restrictions, according to an executive order released on Wednesday.

Oct 01 - Tesla to roll out China-made Model 3 cars with cobalt-free LFP batteries - sources 
U.S. electric vehicle maker Tesla Inc is poised to start selling some Model 3 vehicles made in China equipped with cobalt-free lithium iron phosphate (LFP) batteries, two people familiar with the matter said. Currently the Model 3 electric sedans made at the carmaker's Chinese plant use nickel-manganese-cobalt (NMC) batteries. The starting price for the vehicles is currently 271,550 yuan ($39,900) after factoring in government subsidies. 

Oct 01 - China's Shandong Gold to buy Xinjiang-focused miner Hengxing 
Shandong Gold Mining Co said on Wednesday it would buy Hengxing Gold Holding Co in an all-stock deal worth around HK$3 billion ($387 million) that gives it control of the Gold Mountain mine in China's Xinjiang region. The purchase continues a prolific acquisition spree for state-run Shandong Gold in a year that has seen it agree to pay a sweetened A$565.6 million ($403 million) for Ghana-focused Cardinal Resources Ltd and C$230 million ($172 million) for Canada's TMAC Resources.

Oct 01 - Russian lawmakers approve tax hike for some mining, oil firms 
Russian lawmakers on Wednesday approved a plan to increase taxes for some mining and oil companies, Russian news agencies reported, as Moscow seeks to plug the a budget gap left by lower oil prices and the COVID-19 pandemic. Russia announced the plan, which is expected to bring in 340 billion roubles ($4.3 billion) a year, this month against the backdrop of a falling rouble and expectations of three years of budget deficit.

Oct 01 - ArcelorMittal commits to becoming carbon neutral by 2050 
ArcelorMittal, the world's largest steelmaker, committed on Wednesday to being carbon neutral by 2050, although it said a level playing field with green border adjustments and abundant, affordable clean energy would be required to get there. The company, which makes around 5% of the world's steel, said last year it aimed to reduce carbon dioxide emissions by 30% by 2030.

Oct 01 - Japan's Mitsubishi Materials sees second-half copper output dropping 8.4% y/y 
Japan's Mitsubishi Materials Corp plans to produce 160,086 tonnes of refined copper in the second half of the 2020/21 financial year, it said on Thursday, down 8.4% from a year ago. The second half runs from October to March.

Oct 01 - Erris buys 50% stake in German lithium project from Bacanora 
Erris Resources plc and Bacanora Lithium are in the "advanced stages" of a reverse takeover under which Erris will acquire Bacanora's 50% stake in Deutsche Lithium GmbH in exchange for new shares in Erris. Bacanora's shares rose 4% after the deal announcement on Wednesday, while Erris temporarily suspended trading in its shares. 

Oct 01 - Canada´s Lundin seeks mediation to stave off strike at Candelaria mine in Chile 
Canada's Lundin Mining, owner of the Candelaria mine in Chile, has requested government mediation in a last-ditch effort to stave off a strike by one of its unions after failing to reach a contract deal, the company said on Wednesday. The mine's union of 350 members rejected the company's latest most recent offer on Sept. 28, leaving negotiations at a stand-still.

Sep 30 - Tianqi Lithium warns of $1.9 bln default as loan date looms 
China's Tianqi Lithium Corp said on Tuesday it may not be able to make a $1.88 billion repayment due in November on a loan taken out to buy a stake in Sociedad Minera y Quimica de Chile (SQM) in 2018. The warning in a Shenzhen Stock Exchange filing, comes as lithium prices remain depressed just two months before the repayment on the loan, with a syndicate led by China Citic Bank, is due.

Sep 30 - ArcelorMittal South Africa to restart furnace on higher steel demand 
Steel producer ArcelorMittal South Africa said on Tuesday it would restart the second blast furnace at its Vanderbijlpark operations in January due to higher steel demand. Africa's biggest steel producer, which is majority-owned by Luxembourg-based ArcelorMittal SA, said steel demand had increased quicker than expected due to lockdown-affected construction projects now being completed, increased sales at retail outlets and running at lower stock levels prior to the nationwide lockdown.

Sep 30 - Umicore plans job cuts, closures to consolidate cobalt business 
Belgium's Umicore SA on Wednesday announced plans to streamline its cobalt activities by cutting job and shutting down operations. The maker of catalytic converters and battery materials for carmakers said it plans to consolidate part of the unit's core activities in Kokkola, Finland and Nashville, Tennessee.

Sep 30 - Indonesia's Weda Bay expects 4 new nickel plants to be ready in 2021 
Nickel smelting park PT Indonesia Weda Bay Industrial Park (IWIP) expects to complete the building of four nickel processing plants next year, which would double its capacity, an official said on Tuesday. "The current capacity is 110,000 tonnes of nickel content per year and it will double next year," an IWIP official, who declined to be named, told Reuters.

Sep 29 - China copper smelters lift treatment charges floor as benchmark talks loom 
China's copper smelters raised on Tuesday the floor levels of fourth-quarter treatment and refining charges (TC/RCs) by 9.4% from the prior three months, said two sources with direct knowledge of the matter. The floor price set by the biggest smelters of the world's largest copper consuming nation paves the way for a discussion later this year on the 2021 benchmark TCs/RCs level. The benchmark is referenced in term supply contracts and partially determines the profitability of both smelters and miners.

Sep 29 - Freeport Indonesia H1 copper output sales up 18.9% y/y, sales down 
PT Freeport Indonesia's copper output in the first half of the year grew compared to the same period in 2019, while sales dropped, the CEO of Indonesia Asahan Aluminum (Inalum) said on Tuesday.  Freeport Indonesia's copper output in the first half of the year stood at 321 million pounds compared to 270 million in the same time last year, Inalum's Orias Petrus Moedak told parliament. 

Sep 29 - Brazil's miner Vale suspends iron ore production at Viga
Brazilian miner Vale S.A. said in a filing on Monday it is temporarily suspending operations at its Viga concentration plant in Minas Gerais state, which will result in 11,000 tonnes per day fewer of iron ore fine production. Iron ore fines are high-quality fine ore powders.

Sep 29 - Australia sends troops to help contain virus on ore ship near Port Hedland 
Australian defence personnel are being deployed to Port Hedland, one of the world's largest iron ore loading ports, to help contain a coronavirus outbreak on a bulk carrier that last changed crews in the major seafaring city of Manila. Seventeen of the 21-crew of the carrier have tested positive for the virus, ship owner Oldendorff Carriers said in a statement.

Sep 29 - Critical Metals lists in London as mining IPOs multiply 
Junior mining firm Critical Metals is set to list in London on Tuesday, the latest in a pipeline of mining initial public offerings (IPO) previously delayed by COVID-19. Critical Metals will list on the Main Market of the London Stock Exchange at 0700 GMT at a price of 5p per share.

Sep 29 - Finland's Outokumpu scraps divestment, will cut up to 100 jobs 
Finnish stainless steel maker Outokumpu said on Tuesday it planned to cut up to 100 jobs as it launched a turnaround program at its long products business unit instead of divesting it. In February Outokumpu started a review of the loss-making division, which makes steel bars, wire rod and wire for the oil, chemical and engineering industries.

Sep 29 - Hitachi plans to sell stake in Hitachi Metals, sources say 
Hitachi Ltd will start the sale process for its 53% stake in Hitachi Metals Ltd as early as next month, three people with knowledge of the matter said. Hitachi Metals, which makes components for cars and industrial equipment, had a market value of about 700 billion yen ($6.63 billion) based on Tuesday's close. 

Sep 29 - Australian state approves big new coking coal mine 
Australia's Queensland state gave final approvals for a large coking coal mine in the Bowen Basin on Tuesday as it acts to shore up jobs in the resources industry amid coronavirus-linked disruptions and ahead of a state election next month. State Mines Minister Anthony Lynham said in a statement that preparation work for construction at the Olive Downs mine could begin immediately.

Sep 29 - India opens dumping probe into Malaysia, Vietnam, Thai copper tube, pipe imports 
India is investigating imports of copper tubes and pipes from Malaysia, Vietnam and Thailand, to determine whether producers in these countries were receiving unfair subsidies, the government said. The investigation by India's Directorate General of Trade Remedies, the investigative arm of the commerce ministry, could result in these imports facing countervailing duties, said a government circular posted on Friday.

Sep 29 - Rio Tinto changes tack, ready for talks over Bougainville mine 
Rio Tinto Ltd said on Tuesday that it was ready to talk to stakeholders over allegations of human rights breaches at a giant copper mine in Bougainville that it formerly owned, after community members filed a complaint with the Australian government. "We are ready to enter into discussions with the communities that have filed the complaint," it said, adding it would also speak with current mine owners as well as the Bougainville and Papua New Guinea governments.

Sep 29 - Australia's Jervois Mining to buy Brazilian cobalt, nickel refinery 
Australia's Jervois Mining said on Tuesday it would buy a nickel and cobalt refinery from a unit of Votorantim SA, one of Brazil's biggest diversified holding companies, as demand for metals used in batteries for electric vehicles grows. The battery metals focused miner will buy the São Miguel Paulista refinery in Sao Paulo from Companhia Brasileira de Alumínio for 125 million reais ($22.1 million), it said in a statement.

Sep 29 - Japan's annual wrought copper output likely to hit lowest since 1975 
Japan's production of wrought copper products is likely to sink 15.6% in the current financial year due to the COVID-19 crisis, an industry group said on Monday, with output hitting the lowest since 1975 when the global oil shock dented demand. Production of wrought copper and copper alloy products is expected to fall to 622,600 tonnes this financial year until March 31, down from 737,396 tonnes last year, the Japan Copper and Brass Association said.

Sep 28 - Cleveland-Cliffs to buy U.S. assets of ArcelorMittal for about $1.4 bln 
Cleveland-Cliffs Inc, the largest U.S. producer of iron ore pellets, said on Monday it had agreed to buy the U.S. assets of world's largest steelmaker ArcelorMittal SA for about $1.4 billion. The deal follows a push among steelmakers to consolidate and diversify their business, making it less vulnerable to swings in demand.

Sep 28 - Rio Tinto smelter in focus as New Zealand's PM seeks extension 
New Zealand Prime Minister Jacinda Ardern said on Monday that she will negotiate to extend the operations of Rio Tinto's aluminum smelter in the country by 3-5 years if she is returned to power in the Oct. 17 election. New Zealand Aluminum Smelter's (NZAS) planned closure is a hot election topic as it puts thousands of jobs at risk, and would hit the bottom line of top power producers, at a time when the country is reeling from the economic impact of coronavirus.

Sep 28 - Japan's annual wrought copper output likely to hit lowest since 1975 
Japan's production of wrought copper products is likely to sink 15.6% in the current financial year due to the COVID-19 crisis, an industry group said on Monday, with output hitting the lowest since 1975 when the global oil shock dented demand. Production of wrought copper and copper alloy products is expected to fall to 622,600 tonnes this financial year until March 31, down from 737,396 tonnes last year, the Japan Copper and Brass Association said.

Sep 28 - Australia's Piedmont signs lithium ore supply deal with Tesla, shares surge 
Piedmont Lithium on Monday said it signed a five-year deal with Tesla Inc to supply high-purity lithium ore mineral to the U.S. electric carmaker, prompting an 83% surge in the Australian lithium miner's shares. The initial five-year agreement implies that Piedmont will supply about a third of its planned 160,000-tonnes-per-year spodumene concentrate produce from its deposits in North Carolina. Both companies have an option to extend the deal for another five years.

Sep 28 - Australia trims resources revenue outlook on weaker coal, LNG exports 
Australia has pared its forecasts for mining and energy export revenue this year, as liquefied natural gas (LNG) and metallurgical coal earnings are forecast to be slightly weaker than earlier expected. Total earnings from mining and energy exports are forecast to fall 12% in the year to June 2021 to A$256 billion ($180.71 billion) from a record high of A$290 billion a year earlier, the Department of Industry said in its latest quarterly report.

Sep 28 - Aboriginal group says Rio Tinto ignored pleas to save sacred cave from blast 
Rio Tinto Ltd. ignored repeated requests from traditional owners for sacred Australian rockshelters to be protected in the months before the site was blasted during a mine expansion, an Indigenous group said on Friday. The world’s biggest iron ore miner in May destroyed the two caves in Western Australia, sparking an outcry from the public and Rio's investors. One of the caves showed evidence of 46,000 years of human habitation, making it some of the earliest evidence of human civilisation.

Sep 28 - Pensana Rare Earths gets $9 mln from Angola wealth fund to develop project 
Pensana Rare Earths said on Monday that Angola's sovereign wealth fund agreed to invest about $8.6 million in the company which will be used to develop the Longonjo project into a major rare earth mine. The Fundo Soberano de Angola will subscribe for 13.5 million shares in the company, raising the fund's stake to 23.1% from 17.7%. 

Sep 28 - Speculators cut bullish bets on COMEX gold, silver - CFTC 
Hedge funds and money managers reduced their bullish positions in COMEX gold and silver contracts in the week to Sept. 22, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators increased their net long positions in copper futures and options, the CFTC data showed.

Sep 28 - Nornickel co-owner says thawing permafrost one reason behind spill 
Vladimir Potanin, the co-owner of Russian mining company Norilsk Nickel, said in an interview with state television aired on Saturday that thawing permafrost was one reason behind a major fuel spill in the Arctic earlier this year. The spill occurred on May 29 after a fuel tank lost pressure and released 21,000 tonnes of diesel into rivers and subsoil near the city of Norilsk in Siberia.

Sep 25 - Global copper smelting activity rebounds in August - satellite data
Global copper smelting activity recovered in August, mainly due to a jump in activity in North America, data from satellite surveillance of copper plants showed. Copper processing in top producer China extended its decline, but that was likely due to operations needing maintenance, a joint statement from satellite service SAVANT and broker Marex Spectron said on Thursday.

Sep 25 - Tin prices to extend rally as electronics sector recovers
Tin prices are due to extend their rally next year as top consumer China stocks up on the metal due to a recovery in demand for electronic goods. The bulk of tin, making up nearly half of demand, goes into solder, used chiefly in the electronics industry to connect components. 

Sep 25 - China vows to speed up decision on new steel scrap import standards
China will speed up the formulation of new standards for steel scrap imports, an industry group said at a meeting, amid global uncertainty over Bejing's plan to ban all solid waste imports by the end of 2020. China currently categorises scrap metals as solid waste, but has made some exceptions.

Sep 25 - Japan Q4 aluminium premium rises to $88/T as demand recovers from COVID-19
The premium for aluminium shipped to Japanese buyers for October to December was set at $88 a tonne, up 11% from the current quarter, as demand began to pick up from the pandemic-induced shock, four sources directly involved in pricing talks said on Thursday. The premium, up from $79 per tonne paid this quarter, marks a first quarterly increase in five. But it is lower than initial offers of $95-$98 per tonne from producers. 

Sep 25 - European producers welcome EU provisional duties on China aluminium
European aluminium producers on Thursday welcomed a decision by the European Commission to impose provisional anti-dumping duties of up to 48% on aluminium extrusions from China. In February, the Commission opened an investigation into whether China is dumping aluminium extrusions, products widely used in transport, construction and electronics, in the European Union. 

Sep 25 - Japan crude steel output falls for 6th month as COVID-19 depresses demand
Japan's crude steel output fell 20.6% in August from a year earlier to 6.45 million tonnes, the Japan Iron and Steel Federation said on Thursday as the COVID-19 pandemic-led collapse in demand forced steelmakers to reduce production. Output, which is not seasonally-adjusted, dropped for a sixth consecutive month in August, the federation said.

Sep 25 - Switzerland proposes gold traders should give more info to customs
The Swiss government said on Thursday it had proposed changing the way gold is recorded by global customs authorities to give more information about its quality and use and make the bullion trade more transparent. All manner of shapes and purities of gold are currently recorded under a single code, known as an HS code, used around the world.

Sep 25 - China's net gold imports via HK ease, but demand seen ticking up
China's monthly net gold imports via Hong Kong edged lower in August, data showed on Thursday, although a slight improvement in domestic demand for bullion pushed total imports to a five-month high. Net gold imports via Hong Kong to China, usually the world's top consumer of the metal, stood at 1.184 tonnes in August, compared with 1.395 tonnes in July, data from the Hong Kong Census and Statistics Department showed.

Sep 25 - Shanghai Gold Exchange urges investors to manage risks amid volatility
China's Shanghai Gold Exchange said on Thursday that investors should prepare risk contingency plans, raise awareness of risks, manage positions and invest rationally amid price fluctuations in gold and silver prices and ahead of long national holidays. "Recently there are more uncertain factors impacting the market, fluctuations in gold and silver prices have increased, market risks have increased," said the exchange in an online statement.

Sep 24 - China's remains net aluminium importer as August shipments surge
China remained a net importer of aluminium for a second consecutive month, with August imports surging eight-fold from a year earlier as traders took advantage of lower overseas prices. Imports of unwrought aluminium and aluminium products into China, the world's biggest producer and consumer of the metal, came to 429,464 tonnes last month, the highest in more than 11 years, the General Administration of Customs said on Wednesday. 

Sep 24 - China accuses Chinalco rare earth unit of breaking pollution regulations
A rare earth subsidiary of state-run Aluminium Corp of China (Chinalco) in the southwestern region of Guangxi has repeatedly violated pollution rules and contaminated nearby land, the environment ministry said following an inspection of the firm. Earlier this month, a central government environmental inspection team found that affiliates of the Chinalco subsidiary Guangxi Nonferrous Rare Earth Development Co Ltd failed to properly rectify violations and "seriously polluted the surrounding environment", according to a statement from the Ministry of Ecology and Environment (MEE) published late on Wednesday.

Sep 24 - Strong demand from auto firms propels Rhodium to record high
Rhodium prices have surged to record highs on production outages caused by the coronavirus and faster-than-expected demand recovery for the metal used to clean vehicle exhaust fumes. Prices of rhodium jumped to $14,490 an ounce from around $9,000 in early August, before slipping back to $13,990 on Wednesday.

Sep 24 - Encounter Resources offers BHP 75% stake in Elliot Copper project
Encounter Resources said on Thursday it signed an option pact with BHP Group to give the global miner a stake of up to 75% in its Elliot Copper project after completion of a joint validation programme. BHP and Encounter will complete the initial validation of the Elliot project, sprawling over 4,500 sq km (1,737 sq miles) in Australia's Northern Territory, by the end of December, the gold and copper miner said.

Sep 24 - Tesla's Nevada lithium plan faces stark obstacles on path to production
Tesla Inc's plan to produce lithium for electric vehicle batteries close to its Nevada Gigafactory faces stark challenges from the outset, including an onerous permitting process, uncertain access to water and questions about unproven methodologies. Chief Executive Officer Elon Musk told shareholders on Tuesday Tesla has secured rights to 10,000 acres in Nevada where it aims to produce lithium from clay deposits using a process developed internally.

Sep 23 - Metal industry sees no need for LME green aluminium platform
The London Metal Exchange does not need a separate platform to trade low carbon aluminium and should focus instead on services its users need more urgently, such as a euro-denominated steel contract, metal industry sources told Reuters. As pressure mounts on investors and companies to prove their activity does not harm the environment, the exchange last month outlined plans to support sustainable metal production with a spot trading platform in the first half of 2021 for low carbon aluminium. 

Sep 23 - Less than half the gold sent to big refiners comes from mines - LBMA 
Less than half the gold processed by major refiners in 2018 came from large industrial mines, the London Bullion Market Association said on Tuesday, publishing data revealing for the first time the origin of bullion moving through its system. The LBMA said refiners it accredits, which dominate the industry and supply the world's biggest banks, jewellers and manufacturers, processed 4,836 tonnes of gold in 2018 -- an amount worth around $300 billion at current prices.

Sep 23 - Glencore to extend life of Australian copper smelter, refinery beyond 2022
Glencore will spend A$500 million ($356 million) to extend the life of its copper smelter and refinery in the Australian state of Queensland beyond 2022, after reaching a funding agreement with the state government, both parties said on Wednesday. The global miner said it had secured a one-off incentive from the Queensland state government for the business which includes its Mount Isa copper smelter and Townsville refinery, ahead of a state election at the end of October. 

Sep 23 - Russian lawmakers give initial nod to hefty tax hike for mining, oil
Russian lawmakers on Tuesday supported a plan to increase taxes for some mining and oil companies, as Moscow seeks to plug the gaps left by lower oil prices and the COVID-19 pandemic, while facing industry opposition and criticism of its changing rules. The lawmakers, also in the first reading, backed tax breaks for certain oilfields in Western Siberia, the heartland of Russia's oil industry, with energy champion Rosneft seen as the main winner.

Sep 23 - Venezuela launches London appeal in battle for $1 bln in gold
The Nicolas Maduro-backed Venezuelan central bank launched a landmark appeal in London on Tuesday over $1 billion of gold reserves held in the Bank of England's underground vaults. The Banco Central de Venezuela (BCV) board controlled by the Maduro government is challenging a High Court ruling in July that the UK government "unequivocally" recognised opposition leader Juan Guaido as the interim president, therefore giving him control over the gold.

Sep 22 - Gold miners insist they won't splurge despite price surge
The world's top gold miners sought to reassure investors on Monday that they're not going on a spending spree despite surging gold prices boosting their shares and free cash flow. Miners are opting to give more cash back to shareholders rather than plotting takeovers which the market may disapprove of with the COVID-19 pandemic far from over. 

Sep 22 - Cobalt demand for 5G technology to challenge electric vehicles
The need for larger rechargeable batteries and more energy storage for 5G technology is expected to significantly boost demand for cobalt over coming years and potentially pit the sector against electric vehicle makers. Larger batteries, using lithium cobalt oxide chemistry (LCO), are needed in 5G phones because the antenna, used to transmit and receive radio waves, need more power than those in 4G phones. 

Sep 22 - Rio Tinto to develop bonded area operations for blending iron ore at Dalian port
Anglo-Australian miner Rio Tinto has signed a pact to jointly develop its first bonded area operations to blend iron ore in China's port of Dalian, the company said on Tuesday, as it moves to widen offerings for customers across Asia. China, the world's top iron ore consumer, brought in more than one billion tonnes of the steelmaking ingredient in 2019.

Sep 22 - Sibanye-Stillwater looking to buy gold mines outside South Africa - CEO
Sibanye-Stillwater CEO Neal Froneman said on Monday he wanted to increase the mining company's exposure to gold, but added that it was a difficult time to do deals. "We really do like gold," Froneman told the Gold Forum Americas conference. The precious metal which has surged 27% this year only accounts for about 10% of Sibanye's earnings at the moment. 

Sep 22 - Rio Tinto has not formally committed to review threatened sites, Aboriginal group says
Mining giant Rio Tinto has not formally committed to review the terms of an iron ore mine development that would let it destroy 124 culturally significant sites, a group representing Aboriginal traditional owners said on Monday. Addressing a parliamentary panel examining how Rio legally destroyed sacred and historically significant rockshelters in Western Australia state, the head of the Yinhawangka Aboriginal Corporation said Rio had stopped short of promising any review.

Sep 22 - Ecuador's Constitutional Court approves consultation on mining in Andean city 
Ecuador's highest court said Monday it had ruled in favor of holding a referendum on banning large and medium-scale mining activity near water sources in Cuenca, a city in southern Ecuador's highlands. Cuenca's city government had proposed that the Constitutional Court approve questions for the referendum, which seeks to prohibit mining and pollution in areas surrounding five rivers that cross the city and are its source of water.

Sep 22 - Kinross Gold CEO sees "very low" risk of unrest spreading to Mauritania
Canadian gold miner Kinross Gold said it saw a "very low" risk of political unrest in Mali spreading to Mauritania, its neighbour to the north where Kinross has a gold mine with plans to expand. "We don't see the Mali issue coming to Mauritania," CEO Paul Rollinson told the Gold Forum Americas conference. 

Sep 22 - Copper market in 192,000 tonnes deficit in Jun 2020 - ICSG
The global world refined copper market showed a 192,000 tonnes deficit in June, compared with a 36,000 tonnes deficit in May, the International Copper Study Group (ICSG) said in its latest monthly bulletin. For the first 6 months of the year, the market was in a 235,000 tonnes deficit compared with a 309,000 tonnes deficit in the same period a year earlier, the ICSG said.

Sep 22 - Ghana plans $500 mln London listing of gold royalty fund - sources
Ghana, Africa's largest gold producer, is planning an up to $500 million listing of its gold royalty fund in London in October, though the deal could still run into political opposition, three sources familiar with the matter told Reuters. Agyapa Royalties, a government-backed fund that holds equity interests including mining royalties in the state's gold assets, has hired Bank of America and JPMorgan to pursue an initial public offering (IPO) on the London Stock Exchange this year, the sources said.

Sep 21 - Vale's mining dams are still a risk, company must do more, Brazil prosecutor says
Despite two major deadly mining disasters since 2015, Brazilian iron ore miner Vale SA has not complied with a number of commitments signed with authorities to prevent a third disaster, federal prosecutor Edison Vitorelli told Reuters. Twenty-nine dams that Vale uses to store mining waste still present elevated safety risks, according to Vitorelli, who forms part of a task-force of about two dozen federal and state prosecutors who pressed charges against the company after the most recent disaster which killed 270 people in January 2019.

Sep 21 - 'Free money' for banks as investors pile into fractured gold market
Banks are making huge profits from gold as investors flood into a market fractured by the coronavirus crisis. The world's largest 50 investment banks are on track to double their income from precious metals this year to around $2.5 billion, most of it from gold, Coalition, a banking consultancy, told Reuters. 

Sep 21 - Comex gold speculators raise bullish bets in latest week  - CFTC
Hedge funds and other money managers increased their net long positions on gold, copper and silver in the latest week, according to a weekly report from the Commodities Futures Trading Commission. Gold speculators raised their net long position by 10,622 contracts to 165,251 in the week ended Sept. 15. 

Sep 21 - Precious metals streaming firm Wheaton plans London listing
Streaming firm Wheaton Precious Metals Corp said on Sunday it is planning a UK listing by year-end, potentially the largest metals and mining company to join the London Stock Exchange since Glencore in 2011. The Vancouver-based group, which is dual-listed in New York and Toronto, is valued at about $23 billion on the Canadian exchange.

Sep 21 - China's Regal Metal plans to launch 300,000 tpy recycled aluminium project
China's Regal Metal said it planned to build a recycled aluminium project in Shanxi province with annual capacity of 300,000 tonnes of secondary aluminium. The project is part of revitalisation of old and abandoned assets, supported by the local government, and building of new assets.

Sep 18 - BHP sought to disturb cultural sites even after concerns raised - inquiry
BHP Group pursued permission to damage Aboriginal cultural sites in April, an Australian parliamentary inquiry heard on Thursday, despite being told of the distress it would cause traditional owners. The inquiry is investigating Rio Tinto's legal detonation in May of sacred and historically significant rockshelters for an iron ore mine at Juukan Gorge in Western Australia's Pilbara region. 

Sep 18 - U.S.-Canada truce but aluminium is ever more politicised: Andy Home
The United States has had another change of heart about how to deal with aluminium imports from its neighbour and largest supplier Canada. The 10% tariff that was re-imposed on unalloyed primary metal last month will now be lifted. Cue a collective sigh of relief from U.S. users facing another sharp rise in local premiums.

Sep 18 - Flood of gold from Switzerland to U.S. stopped in August
Swiss exports of gold to the United States all but halted in August while shipments to China and India rose, customs data showed on Thursday, suggesting a big transfer of bullion to New York that followed the coronavirus outbreak has run its course. The pandemic upended the global gold trade, shutting the vast consumer markets of Asia while triggering a rush among western investors to buy what they consider a safe financial asset. 

Sep 18 - Gold smugglers in Congo hobble legal trade by buying at a premium, report says
Illicit gold traders in eastern Democratic Republic of Congo offer premium prices to subsistence miners, impeding efforts to stamp out a thriving regional black market in Congolese gold, Canadian non-governmental organisation IMPACT has found. Tonnes of gold produced by subsistence or "artisanal" miners in the Congo gets smuggled into the global market through its eastern neighbours while the country's official exports are tiny. 

Sep 18 - China Hongqiao kicks off aluminium production in Yunnan
The world's top private-sector aluminium producer China Hongqiao Group Ltd has started first phase production at a greener aluminium plant in the southwestern province of Yunnan, cutting its reliance on coal-fired power, a Hongqiao affiliate said on Thursday. Hongqiao’s smelting capacity is currently located in the city of Binzhou in Shandong and relies on coal-fired power for the electricity-intensive smelting process. The move to Yunnan allows it to swap coal for cleaner hydropower.

Sep 18 - Israel, Dubai diamond exchanges begin strategic collaboration
The Israel and Dubai diamond exchanges have signed an agreement to promote cooperation in a deal certain to boost direct trade between the Middle East's main diamond hubs. The agreement was announced on Thursday two days after Israel and the United Arab Emirates signed an historic agreement to normalize ties and marks a further development in economic collaboration.

Sep 18 - Cornish Lithium mulls second round of crowdfunding, IPO for UK project
Britain's Cornish Lithium said on Thursday it was considering another round of crowdfunding for its geothermal lithium project after reporting high grades of the key battery ingredient in brine that also produces renewable power. The exploration company, founded and headed by ex-banker Jeremy Wrathall, plans to extract lithium from brine heated by the earth's core within three to five years to meet an expected boom in demand from electric vehicle battery manufacturers.

Sep 18 - Ferroglobe, creditors hire advisors as debt restructuring speeds up - sources
Ferroglobe, the largest western producer of silicon metal, and its creditors have hired finacial advisers to speed up a restructuring of the company's $451 million of debt, two sources familiar with the situation said. Ferroglobe, 53% owned by Spanish billionaire and former finance minister Juan Miguel Villar Mir, is under pressure as the COVID-19 pandemic exacerbates a slowdown in demand from the automotive industry, the main consumer of silicon metal, in Europe and the United States.

Sep 17 - China steel sector sees higher demand in H2, calls to fend off import surges
Chinese major steel producers had suggested to prevent sharp increase in imports of the industrial metals and to relax purchase of overseas steel scrap, the China Iron and Steel Association (CISA) said on Wednesday. Nine steelmakers, including the biggest China Baowu Steel Group, Shougang Group and Ansteel Group raised concerns on the steel market amid the coronavirus disruptions and rising production costs, the companies said at a conference held by the CISA on Sept.9. 

Sep 17 - Europe's carbon tax plans to help create "green" premium for aluminium
European proposals to neutralise the carbon emitted by aluminium's energy-intensive production process mean consumers wanting to use the metal will eventually, albeit indirectly, have to pay a "green" premium. Consumers are reluctant to pay extra for aluminium smelted using hydropower, which makes it low carbon, produced by companies such as Russia's Rusal and Rio Tinto's Canadian operations.

Sep 17 - Trump says to be 'no politics" in Alaska mine project review 
U.S. President Donald Trump said there would be "no politics" in the review process of Alaska's Pebble Mine project which has previously been opposed by prominent Republicans and environmentalists who say it would damage wetlands and popular fishing sites. "Don't worry, wonderful & beautiful Alaska, there will be NO POLITICS in the Pebble Mine Review Process. I will do what is right for Alaska and our great Country!!!," Trump said in a tweet late on Wednesday. 

Sep 17 - China August refined copper output rises month-on-month - stats bureau
China's refined copper output in August rose from the previous month on lower maintenance at smelters, official data showed on Wednesday. Refined copper output stood at 894,000 tonnes last month, the National Bureau of Statistics said, up from 814,000 tonnes in July and was 9.7% higher than same period year ago. 

Sep 17 - China's Henan province to tackle mine waste disposal risks
China's central Henan province has pledged to cut the number of tailings dams in the province by 10% by end-2022, aiming to reduce the risk of disasters and cut mine pollution, the province's emergency management department said. China has been working to improve its management of tailings dams - the most common waste disposal method for mining firms - following a fatal dam collapse in Brazil in 2019 and a spill in northeast Heilongjiang province earlier this year.

Sep 17 - Brazil miner Vale targets 450 mln tonnes capacity, sets no date
Brazilian miner Vale SA said on Wednesday it planned to expand its annual production capacity to 450 million tonnes, from a current rate of 318 million, by boosting output in its Northern operations and recovering production lost following last year's deadly dam disaster. In a presentation to investors made public on Wednesday, Vale set no date to meet the target that would make it once again the world's largest iron ore producer. 

Sep 17 - UK's Cornish Lithium finds high-grade material in govt-backed project
Britain's Cornish Lithium said on Thursday it found high grades of lithium in geothermal waters that can be produced sustainably from a project aimed at becoming the country's key source of the battery material. The exploration company, founded and headed by ex-banker Jeremy Wrathall, plans to extract lithium from brine heated by the earth's core to meet the expected boom in demand for electric vehicles.

Sep 17 - Indonesia says LG Chem, CATL sign deal for lithium battery plant
Indonesia has secured a deal to build a lithium battery plant in the country with South Korean LG Chem Ltd and China's Contemporary Amperex Technology Ltd (CATL), a senior minister said. Taking advantage of the nation's large nickel output from which battery chemicals can be extracted, Indonesia has set a 2024 target to start producing lithium batteries, Coordinating Minister of Maritime and Investment Affairs Luhut Pandjaitan said. 

Sep 17 - Russia targets tobacco, mining, oil taxes in hunt to plug budget holes
Russia is considering raising taxes affecting some mining companies, tobacco sales and the oil industry, officials said on Wednesday, in Moscow's latest attempt to plug holes in its budget. The move, estimated to bring in around 340 billion roubles ($4.54 billion) a year, comes as Russia faces a prolonged budget deficit amid weak oil prices and after Moscow stepped up its support for Belarus which includes a $1.5 billion loan. 

Sep 17 - Restoration after 2015 Brazil dam burst behind schedule - UN expert
None of 42 projects to repair damage from the 2015 collapse of a Brazilian dam is on track, according to a United Nations expert report published shortly before mining giant BHP hears if it will be pursued through English courts over the disaster. U.N. Special Rapporteur Baskut Tuncak alleged mining companies had failed to provide effective reparations since Brazil's worst environmental disaster decimated the livelihoods of over 3 million people.

Sep 17 - Gold miner Pan African counts on gold price to maintain strong growth, says CEO
South African gold miner Pan African Resources could maintain its strong rate of profit growth and dividend payout in the current financial year if gold prices remain at current levels, its chief executive Cobus Loots said on Wednesday. Pan African, which produced around 180,000 ounces of gold metal last year to beat its own guidance, posted a 92.4% increase in its headline earnings per share (HEPS) - South Africa's main profit measure - to 2.29 U.S. cents for the year ended June 2020, it said in a statement.

Sep 16 - U.S. to remove tariffs on Canadian aluminum, Ottawa drops threat of retaliation
The Trump administration said on Tuesday it will remove 10% U.S. tariffs on raw Canadian aluminum as long as imports of the metal stay below levels that are expected to "normalize" over the next four months. In response, Canada dropped a threat to impose billions of dollars of retaliatory sanctions, marking the end of a spat between the major trading partners.

Sep 16 - Slowing investor demand looms over gold prices
The rapid accumulation of gold by investors as the coronavirus crisis erupted earlier this year has slowed, threatening the record-breaking rally in prices of the precious metal. Investors seeking safety in gold, which typically holds its value during troubled economic and political times, have offset a collapse in jewellery demand and helped push prices above $2,000 an ounce for the first time.

Sep 16 - Juukan Gorge is a watershed moment for the world's miners: Andy Home
Even before Rio Tinto made its fateful decision to blow up the ancient Aboriginal rockshelters at Juukan Gorge, this was turning out to be another terrible year for the mining industry. In May Russian nickel producer Norilsk spilled 20,000 tonnes of diesel into the Ambarnaya river in Siberia. The damage to the Arctic eco-system has been compared by Greenpeace to the infamous Exxon Valdez oil spill in 1989.

Sep 16 - Freeport does not want to be 'distracted' by buyout offers, CFO says
Freeport-McMoRan Inc does not want to be distracted by any buyout offers and is focused on expanding its Grasberg copper-and-gold mine in Indonesia and boosting cash flow, Chief Financial Officer Kathleen Quirk said on Tuesday. Executives at rival miner Barrick Gold Corp have openly talked in recent months about their interest in buying all or part of Freeport, especially Grasberg, the world's largest copper mine. 

Sep 16 - Miner BHP says Aboriginal landowners free to speak on how it manages cultural heritage
BHP Group said on Wednesday the destruction of a 43,000-year old Aboriginal rock shelter in Australia by fellow miner Rio Tinto had impacted the trust between Indigenous land owners and the resource industry. It said it would halt work that could impact Aboriginal sacred sites while it consulted further with Indigenous groups and that Aboriginal owners of the land it mined were free to comment on its management of their cultural heritage.

Sep 16 - Steel prices to keep rising on industrial rebound; margins soft
Steel prices are set to keep rising in coming months as economies recover and demand picks up after being hit by the coronavirus pandemic. Many steel mills are resuming operations after being suspended due to COVID-19, but companies will only benefit modestly due to higher costs.

Sep 16 - Australia's Fortescue says it won't consider heritage resolution at AGM
Fortescue Metals Group said on Tuesday it will not consider a shareholder resolution at its annual general meeting that called on the iron ore miner to halt activities that could damage Aboriginal cultural heritage sites. The move comes on the heels of growing scrutiny on resource projects in Western Australia and other parts of the country that could affect places of cultural significance, after global miner Rio Tinto legally blew up a rock shelter in May that showed 46,000 years of human habitation. 

Sep 16 - Japan's JFE aims to cut CO2 emissions by 20% by 2030
Japan's JFE Holdings Inc said on Tuesday it would aim to cut CO2 emissions from its mainstay steel unit, JFE Steel, by more than 20% by the 2030 financial year that ends March 2031 from the 2013 level in a bid to tackle climate change. The company, which has been working with other members of the Japan Iron and Steel Federation to develop new technology to trim CO2 emissions, formed a new project team under the direct control of JFE Steel's president to step up efforts on its own.

Sep 15 - China August crude steel output sets record on firm demand outlook
China's crude steel output in August rose 1.6% from a month earlier, setting a new single month record, as mills ramped up production on expectations of demand rising as the construction sector enters its peak season. The world's largest steel producer churned out 94.85 million tonnes of crude steel last month, data from the National Bureau of Statistics (NBS) showed on Tuesday, increasing from 93.36 million tonnes in July and up 8.4% from August 2019. 

Sep 15 - BHP freezes executive salaries as CEO Henry takes $6.1 mln for first 6 months
Global miner BHP Group said in its annual report on Tuesday that it froze salaries of key leadership personnel for the coming financial year, while Chief Executive Mike Henry received $6.1 million in the first six months on the job. Henry, who became chief executive on Jan. 1 this year, was set a salary of $1.87 million a year, including a base salary of $1.7 million and a 10% pension contribution, but not including short- and long-term incentives that make up the majority of his remuneration.

Sep 15 - China August aluminium output hits new high on decent prices, firm demand
China's aluminium production in August rose 2.3% from a month earlier, setting a record high for a second month, fuelled by increasing output at smelters and robust demand outlook. The world's top aluminium producer churned out 3.17 million tonnes of primary aluminium last month, the National Bureau of Statistics (NBS) said on Tuesday. That was up from 3.1 million tonnes July and an increase of 5.5% from August 2019. 

Sep 15 - Hedging hit drives S.Africa's Harmony Gold to annual loss
South Africa's Harmony Gold Mining Co Ltd on Tuesday posted an annual loss of 828 million rand ($53 million), stung by a weaker exchange rate against the U.S. dollar, despite a boost in revenue from soaring gold prices. Last week the company flagged derivative losses of about 1.7 billion rand and translation losses of nearly 919 million rand on dollar-denominated debt. 

Sep 15 - Pink coffins mark growing death toll of Congo gold mine collapse
Pink painted coffins lined a hillside in eastern Congo on Monday as rescuers filled them with the bodies of victims of a gold mine cave-in, in which 50 people are feared dead. Alexandre Ngandu Kamundala, deputy mayor of Kamituga, one of Democratic Republic of Congo's oldest gold-mining communities close to where the unofficial mine collapsed on Friday, said that 19 bodies have so far been found.

Sep 15 - Tokyo Steel to raise product prices in October by 2.2%-3.4%
Tokyo Steel Manufacturing Co, Japan's top electric-arc furnace steelmaker, said on Tuesday it would raise its steel product prices by 2.2%-3.4% in October to reflect demand recovery at home and abroad. The company had kept prices unchanged for all of its steel products in September for a second consecutive month. 

Sep 15 - Chile's Codelco reaches contract agreement with El Teniente supervisors
Chile's state-owned copper miner Codelco said on Monday it had reached a contractual agreement with the supervisors' union at El Teniente mine, reflecting the new constrained realities of the industry following the economic blow dealt by the COVID-19 pandemic. The company said in a statement the agreement that supervisors would not receive a pay rise in the coming contract was backed by 88% of the union's members and the signed deal would remain in place for 36 months from Nov. 1, 2020.

Sep 15 - Canada's First Quantum eyes operations expansion at Zambia mine
Canadian miner First Quantum Minerals Ltd said on Monday it plans to expand operations at the Kansanshi mine in Zambia, Africa's biggest copper mine. In a technical report, the company said it plans to expand the sulphide ore processing facility at the Kansanshi mine by 25 million tonnes per annum (mtpa), which will boost annual throughout to 52 mtpa. 

Sep 15 - China's CATL to invest in Neo Lithium, help develop Argentina mine
China's CATL will buy more than 10 million shares of Neo Lithium Corp to become the company's third-largest shareholder, the latest in a string of investments by Chinese companies into South American lithium projects. The deal, announced on Monday, comes as demand for the electric vehicle battery metal is expected to triple over the next five years as automakers shift their focus away from internal combustion engines to EVs.

Sep 14 - World’s gold miners wary of production ramp-up despite price surge
The world's top gold miners are retrenching after COVID-19 related shutdowns despite record prices for the yellow metal, with cost-conscious executives prioritizing investor returns over production growth. Gold prices have jumped 30% this year to roughly $2,000 an ounce as central banks dial up stimulus measures in response to the coronavirus pandemic. 

Sep 14 - China aiming to add to its cobalt stockpile - sources
China's National Food and Strategic Reserves Administration has asked the country's major cobalt producers to submit proposals to sell their metal to the state, sources with direct knowledge of the matter told Reuters. The Chinese government was earlier this year urged by the country's nonferrous metals association to take advantage of a coronavirus-driven slump in commodity prices and stockpile metals, which would also support struggling producers. 

Sep 14 - Tesla in talks to buy low carbon nickel from Canada - sources
Tesla is in discussions with Canadian miner Giga Metals about helping to develop a large mine that would give the electric carmaker access to low carbon nickel for its batteries, three sources familiar with the matter said. Alongside its goal to reduce pollution from driving, Tesla is also striving to reduce its own carbon footprint. 

Sep 14 - Rio, other miners, should adopt "10th man" to reform boards: Russell
Rio Tinto's board may have stemmed the bleeding of the mining giant's public image with the belated dumping of Chief Executive Jean-Sébastien Jacques after a widely-panned initial punishment for blowing up two significant Aboriginal rockshelters. Jacques, along with iron ore boss Chris Salisbury and Simone Niven, head of corporate relations, the unit responsible for dealing with indigenous communities, will depart in the wake of the fallout over the destruction of the caves at an iron ore mine in Western Australia state. 

Sep 14 - Survivor recalls horror after Congo mine collapse
Kinyenye Furaha passed out from shock when he realised a mine collapse in eastern Congo had buried more than 50 fellow miners including his brother, he said on Sunday, as the hunt continued for bodies two days after the disaster. Miners searching the site near the town of Kamituga in Democratic Republic of Congo have so far recovered 18 bodies, after heavy rains on Friday caused the artisanal gold mine to cave in, burying those working below ground. 

Sep 14 - Aluminium producers' race to go green may fracture market: Andy Home
Tesla is ordering giant aluminium casting presses for its assembly line in Germany. The "Gigapress" is the size of a small house and will replace with a single module around 70 parts that are currently glued and riveted into the car's chassis. 

Sep 14 - Congo says it will reimburse VAT to mining companies after audit
Congo said on Saturday it will reimburse value-added tax payments to mining companies operating in the country following an audit to determine how much it owes them, after a backlash over an earlier decision to stop payments. Africa's top copper producer has suspended the VAT on mining imports since July 2016 to help operators during a commodity price downturn, and to pay down hundreds of millions of dollars in VAT reimbursements owed to the companies.

Sep 14 - Colombia coal output nearly halved in Q2 to 9.7 mln tonnes, govt says
Coal production in Colombia, the world's fifth-largest coal exporter, fell by 48.8% in the second quarter because of coronavirus quarantine measures and low international prices, the government said on Friday. The South American country produced 9.7 million tonnes of the fuel between April and June, down from 18.8 million tonnes in the year-ago period, the mines and energy ministry and national mining agency said in a joint statement.

Sep 14 - Metals industry veteran Christian Schirmeister to retire in October
Metals industry veteran Christian Schirmeister will retire in October after a distinguished career spanning four decades in sales and trading starting in 1979 at Metallgesellschaft, previously one of Germany's largest conglomerates. As head of client liaison worldwide, Schirmeister made the company his professional home as it transitioned into MG plc, Enron Metals, Sempra Metals, RBS Sempra and eventually J.P. Morgan, which he left in 2015.

Sep 14 - Nornickel says it collected more than 90% of fuel leaked by Arctic spill to rivers
Russia's Norilsk Nickel (Nornickel) said on Friday that it had collected more than 90% of fuel leaked into rivers during its Arctic fuel spill earlier this year, or about 12,000 tonnes. The spill occurred on May 29 after a fuel tank lost pressure and released 21,000 tonnes of diesel into rivers and subsoil near the city of Norilsk in Siberia. Greenpeace has compared the incident to the 1989 Exxon Valdez oil spill off Alaska.

Sep 11 - Rio Tinto bows to pressure over cave blast as CEO, executives exit
Rio Tinto parted ways with its chief executive and two deputies on Friday, bowing to a shareholder outcry over the destruction of two significant Aboriginal rockshelters and what was seen as the miner's inadequate initial response. The departures are the highest profile examples yet of the increasing muscle of institutional investors to hold companies to account for actions that fall short in areas such as human rights obligations and expected community standards. 

Sep 11 - Shanghai exchange plans to launch alumina futures contract by first half of 2021
China's Shanghai Futures Exchange (ShFE) expects to roll out its alumina futures contract, which was initially scheduled for launch in 2019, by the first half of 2021, an official from the bourse said on Friday. Ge Wanwan, senior manager at the ShFE, however, did not elaborate on reasons for the delay in the launch.

Sep 11 - China metal recycling body sees 2020 copper scrap imports down 50%
China's copper scrap imports are expected to drop around 50% this year, an official from the China Nonferrous Metals Industry Association's CMRA recycling branch said on Friday. China, the world's top metals consumer, brought in 1.49 million tonnes of copper scrap in 2019, Wang Jiwei, deputy president of CMRA, said at the China International Copper Forum. The country has granted import quotas for 743,140 tonnes of copper scrap so far this year. 

Sep 11 - India plans to restrict copper, aluminium imports with an eye on China - sources
India is planning to raise surveillance of copper and aluminium imports while developing policies to curb shipments from China and other Asian nations to protect domestic producers, said two government sources and an industry official. Officials in New Delhi are expected to soon ask importers to register with authorities as a first step towards tighter controls that would require permits for individual shipments of the two metals, government sources said. The sources declined to be identified due to the sensitive nature of the discussions. 

Sep 11 - Copper treatment benchmark expected to hit lowest in a decade next year 
Benchmark treatment charges for copper concentrate next year are likely to fall a sixth straight year, to their lowest since 2011 at about $60 a tonne, traders and analysts said, as refined metal demand returns and despite an expected recovery in supply. Miners pay treatment and refining charges (TC/RCs) to smelters to process their copper concentrate into refined metal, offsetting the cost of the ore itself. Charges typically go down when concentrate supply is tight and smelters have to accept lower fees to get feedstock.

Sep 11 - Antaike raises China's 2020 refined copper imports forecast 
Research group Antaike raised its 2020 forecast for China's refined copper imports for the second time this year, amid record shipments of the metal in June and July. Antaike, the China Nonferrous Metals Industry Association's research arm, pegged refined copper imports this year at 3.8 million tonnes, according to a presentation by analyst He Xiaohui viewed by Reuters. 

Sep 11 - Lithium giant Albemarle locks horns with Chile over reserves data
Albemarle, the world's largest lithium producer, is locked in a feud with Chilean regulators over how it calculates its reserves of the ultralight metal, a potential risk to its plans to ramp up production. Regulators are demanding extra information on reserves Albemarle holds in the lithium-rich Atacama salt flat, according to a non-public regulatory filing seen by Reuters. The U.S.-based miner told Reuters that the information it has provided already goes beyond Chilean requirements.

Sep 11 - Russian watchdog files $2 bln lawsuit against Nornickel for fuel spill damage
Russia's environment watchdog said on Thursday that it had filed a lawsuit against a power business owned by mining giant Norilsk Nickel to claim 148 billion roubles ($1.96 billion) for environmental damage caused by a fuel leak earlier this year. The spill occurred on May 29 after a fuel tank lost pressure and released 21,000 tonnes of diesel into rivers and subsoil near the city of Norilsk in Siberia. Greenpeace has compared the incident to the 1989 Exxon Valdez oil spill off Alaska. 

Sep 11 - BHP lays down goals to cut own emissions by 30% by FY2030
BHP Group will focus on cutting its operational emissions by 30% by the 2030 financial year from 2020 levels, and will link executive bonuses to its progress, its chief executive said in a climate strategy update on Thursday. The world's biggest listed miner will focus on using cleaner forms of power supply as well a taking steps to electrify its diesel-powered truck fleet as part of steps that will eventually see it reach net zero operational emissions by 2050.

Sep 11 - S.Africa's Harmony Gold expects to swing to a full year loss
South Africa's Harmony Gold Mining said on Thursday it expects to report a loss for the full year as a 1.7 billion rand ($102 million) derivative loss hits profits though revenue increased on a higher gold price. The gold miner expects headline loss per share (HEPS) for the year ended June 30, to be between 139 and 169 cents, compared to earnings of 204 cents per share reported in the year-ago period.

Sep 10 - Pressure mounts for Rio board after Australian cave blast review
Australian superannuation fund Hesta has become the latest investor to voice dissatisfaction over the findings of Rio Tinto's board-led review into how the iron ore miner legally detonated historically significant Aboriginal rockshelters. The comments come as Rio Tinto is expected to update investors within 24 hours on further steps that may bring more sanctions for executives, a separate Australian-based investor group told Reuters on condition of anonymity, on Thursday. 

Sep 10 - Brazil judge blocks Vale executives removal before the miner's defense
A Brazilian federal judge has denied an injunction request filed last week by prosecutors against Vale SA, which asked for the urgent removal of top executives in charge of safety and to suspend dividend payments, according to a court filing on Wednesday. The judge based in Minas Gerais state said it would be inappropriate to decide on the injunction request before the Brazilian mining company had a chance to defend itself.

Sep 10 - Shareholder group seeks Fortescue moratorium on Australian cultural site damage
A shareholder group on Thursday urged Australia's Fortescue Metals Group Ltd to commit to not damaging or disturbing cultural heritage sites and lift confidentiality provisions on Aboriginal traditional owners. The shareholder resolution, to be tabled at Fortescue's Nov. 11 annual general meeting, comes after rival Rio Tinto faced a government enquiry into how it legally blew up two rock shelters in May, including one showing 46,000 years of human habitation. 

Sep 10 - Barrick CEO faces stark test in fight for Papua New Guinea mine
A standoff over a remote gold mine in Papua New Guinea threatens Barrick Gold Corp Chief Executive Mark Bristow's streak of resolving thorny disputes with host governments, in the first major test he has faced outside his home patch of Africa. Barrick, the world's second-largest gold producer, lost a key court challenge last week over rights to the Porgera gold mine. PNG Prime Minister James Marape in April refused to extend Barrick's lease for the requested 20 years and instead gave the lease to a state-owned mining company Kumul Minerals Holdings Ltd. 

Sep 10 - China's August refined nickel output up 15% y/y - Antaike
China's August refined nickel output rose 15% from a year earlier to 14,260 tonnes, Antaike, the research arm of the country's nonferrous metals association said on Wednesday. On a monthly basis, nickel cathode output fell 3.5% last month, mainly affected by maintenance at top producer Jinchuan Group, which produced 12,500 tonnes of the product in August, according to an Antaike statement. 

Sep 10 - Salzgitter CEO rejects idea of steel alliance with Thyssenkrupp
Germany's second-largest steelmaker Salzgitter is not interested in an alliance with rival Thyssenkrupp, Chief Executive Heinz Joerg Fuhrmann told Reuters. "We currently do not see any scenario that would improve our situation compared with independence," Fuhrmann said in an interview on Monday.

Sep 10 - South Africa's power cuts weigh on miners' investment decisions
Increasing disruptions to power supply from South Africa's struggling utility Eskom could hit mining companies plans to invest, two top industry executives warned on Wednesday. "I think the impact of Eskom is far more pronounced than the impact of COVID, although COVID is getting all the attention," Nico Muller, Chief Executive of Impala Platinum (Implats) said during a platinum group metals (PGM) conference.

Sep 10 - China's August zinc output hits record high in nearly 5 years - Antaike
China's August refined zinc output rose 2.8% to 450,000 tonnes from last year, research house Antaike said on Wednesday, hitting a record monthly high in nearly five years as smelters boosted production. Zinc output from 49 Chinese producers increased by 19,000 tonnes last month compared with the revised July data, according to a survey by Antaike, sending production for the January-August period to 3.37 million tonnes, up 2.1% from same period in 2019. 

Sep 10 - Jiangxi Copper chairman Long retires at 60, general manager takes over
Jiangxi Copper Co Ltd said on Wednesday chairman Long Ziping had stepped down at his legal retirement age and that general manager Zheng Gaoqing would take over the top position in the integrated copper producer. Long, 60, had been chairman of China's top copper producer for almost exactly three years.

Sep 10 - Prairie Mining takes Poland to arbitration court over coal mines
Australia's Prairie Mining has launched international arbitration proceedings against Poland arguing that Warsaw breached bilateral treaties by blocking Prairie's investment in two coal mines. Prairie Mining, which has been developing the Jan Karski and Debiensko mines in Poland, said last year that it had notified the Polish government about an investment dispute. 

Sep 10 - Thai central bank to allow gold trading in dollars soon
Thailand's central bank will allow gold trading in U.S. dollars soon but it will not be mandatory, an assistant governor said on Thursday, as it tries to curb the impact of the precious metal on a stubbornly strong baht currency. The revised rules should help reduce exchange rate volatility as domestic gold prices are linked to global gold prices, Vachira Arromdee told reporters.

Sep 09 - Higher copper likely if link with China credit reclaimed
Copper's sizzling rally triggered by historically low stocks and strong consumption in China has further to run if the link between Chinese demand and credit availability in the top consumer fully reasserts itself. Benchmark copper on the London Metal Exchange touched a 26-month high of $6,830 a tonne last week, a gain of more than 50% since March when economic activity around the world ground to a halt because of coronavirus lockdowns.

Sep 09 - Funds collide with fundamentals in red hot copper cauldron: Andy Home
This year's turnaround in copper's fortunes has been dramatic and the metal is glowing red hot, with China's physical purchases and futures buying by funds both fanning the flames. Positioning on the CME's copper contract is the most bullish since the second quarter of 2018, with money managers last week lifting their collective bets on higher prices. 

Sep 09 - Trafigura launches $500 mln funding platform for low-carbon aluminium
Commodities trader Trafigura said on Tuesday it has launched a financing platform of up to $500 million for low-carbon aluminium with lenders Natixis SA and Rabobank, riding on the trend towards sustainable metal production. Trafigura said in a statement that the platform will enable the trading house to access finances at a preferential interest rate and pay a premium to low-carbon aluminium producers.

Sep 09 - Move aside robots, Tesla bets on aluminium casting
Robots are not efficient enough for Tesla's new car factory in Germany, which plans to replace hundreds of them with giant aluminium casting machines to build simpler chassis parts, a person familiar with the matter told Reuters. The electric carmaker has struggled to raise production volumes through hi-tech automation and was forced to fly in a new production line from Germany to Nevada in 2018 after robots failed to coordinate seamlessly at the U.S. factory.

Sep 09 - Zimbabwe bans mining in wildlife parks
Zimbabwe's government has banned mining in game reserves following concerns from conservationists who accused two Chinese companies of exploring for coal in the biggest national park, Hwange. Hwange, in western Zimbabwe, is home to the country's biggest elephant herd - more than 40,000, large prides of lions as well as buffalo, among other game and birds that are popular with tourists.

Sep 09 - India's MCX exchange scales 12-year peak for silver delivery
India's largest commodity derivatives exchange, Multi-Commodity Exchange of India Ltd (MCX), said it registered a 12-year high in silver delivery on Tuesday. The exchange delivered a total of 139.96 tons (126,969.58 kg) of silver, of which 127.50 tons (115,666.05 kg) were via the 30 kg September contract - its highest level since December 2008 when deliveries hit 141.81 tons (128,647.87 kg).

Sep 08 - Platinum surplus vanishes as coronavirus hammers supply - WPIC
The World Platinum Investment Council (WPIC) on Tuesday changed its forecast for the platinum market in 2020 from a surplus to a deficit, saying that the coronavirus outbreak would hammer supply even harder than demand. The roughly 7.5 million-ounce market for the metal used in jewellery, vehicle exhausts and other industry will be undersupplied by 336,000 ounces – its second consecutive annual shortfall, the WPIC said in its latest quarterly report.

Sep 08 - China's sliding coal imports weakens one of the last bullish supports: Russell
Among China's generally strong imports of major commodities in August there was one standout area of weakness - the large drop in coal. China's coal imports fell to an eight-month low of 20.66 million tonnes in August, down 20.8% from July's 26.1 million and a massive 33% below the level recorded in August last year, according to customs data. 

Sep 08 - German steel industry needs state aid, alliances, IG Metall says
Germany's steel industry needs state aid and deeper alliances to manage the shift toward green fuels for blast furnaces, Joerg Hofmann, head of Germany's largest union, IG Metall, told Reuters. Steel companies including Thyssenkrupp and Salzgitter rely on coal for heating their blast furnaces but face pressure to shift toward renewable energy sources such as hydrogen as a way to cut their carbon emissions.

Sep 08 - Australia's New Century scraps acquisition of Vale's Pacific island projects
Australian zinc miner New Century Resources Ltd said on Tuesday it will not proceed with the acquisition of Vale Nouvelle-Caledonie's (VNC) nickel and cobalt mines on the Pacific island of New Caledonia, knocking its shares lower. New Century had been in talks with Vale Nouvelle-Caledonie S.A.S., the Canadian unit of Brazilian miner Vale, to buy the Goro Nickel & Cobalt Mine in New Caledonia, but said in a statement that a funding package and equity structure for VNC could not be generated. 

Sep 08 - GFG's aluminium business looks along supply chain for takeovers
Alvance, the aluminium business of British commodities tycoon Sanjeev Gupta, is on the lookout for takeovers to triple production and create a vertically-integrated group, its chief executive said on Monday. The privately-held group is seeking acquisitions that include green energy in order to meet its goal of becoming carbon neutral by 2030, CEO Arnaud de Weert told the online CRU World Aluminium conference.

Sep 07 - China's August copper imports slip from record high 
China's copper imports eased in August from the previous month's all-time high, customs data showed on Monday, as an arbitrage window to bring in overseas metal shut and demand from key consumption sectors slowed. Imports of unwrought copper and copper products into China totalled 668,486 tonnes last month, the General Administration of Customs said. That was down 12.3% from a record 762,210.9 tonnes in July, but still up by 66% from August 2019. 

Sep 07 - Workers at Chile's Codelco threaten action in job conditions row 
Workers at Chile's state-owned miner Codelco, the world's largest copper producer, said on Friday that they would take "action" against what they describe as threats to their jobs. Tensions with between unions and the Chilean company have risen over complaints about coronavirus prevention measures and the pricing of insurance. 

Sep 07 - China August iron ore imports down 10.9% from July on falling shipments 
China's iron ore imports in August fell 10.9% from a month earlier, easing from a record high in July on fewer shipments from big miners and port congestion, official customs data showed on Monday. The world's top iron ore consumer brought in 100.36 million tonnes of iron ore last month, according to data from the General Administration of Customs. That was down from 112.65 million tonnes in July and up 5.8% from the same period a year earlier. 

Sep 07 - Some Japan aluminium buyers agree Q4 premium at $88/T, up 11% on qtr - sources 
Some Japanese aluminium buyers have agreed to pay an $88 per tonne premium for October-December shipments, up 11% from this quarter, as industrial demand recovers from the COVID-19 pandemic, four sources directly involved in the pricing talks said on Friday. The figure is higher than the $79 per tonne premiums paid this quarter and marks a first quarterly increase in five.

Sep 07 - Europe joins the global scramble for critical minerals: Andy Home 
Europe has belatedly woken up to the fact it has a metals problem. The region's production capacity, particularly at the refining and processing stage of the supply chain, has been hollowed out by years of price attrition from lower-cost competitors, first and foremost China. 

Sep 07 - U.S. SEC to examine Rio Tinto whistleblower claims over Oyu Tolgoi - FT 
The U.S. Securities and Exchange Commission is examining claims from a whistleblower that Rio Tinto was aware of problems at its underground copper mine extension project of Oyu Tolgoi in Mongolia months before the miner confirmed the project would face delays and higher costs, the Financial Times reported on Sunday. The SEC is probing allegations made by Richard Bowley, a British national who worked for the company's copper business in Mongolia between 2017 and 2019, the newspaper said, citing people with knowledge of the situation.

Sep 07 - Freeport Indonesia expects sales jump after transition to underground mine 
PT Freeport Indonesia expects its annual copper and gold sales to jump next year as it transitions to operating in its underground mine, CEO Tony Wenas told a virtual conference on Friday. Freeport Indonesia expects this year's copper and gold sales to be lower than usual at 0.77 billion lbs and 0.82 million ounces respectively.

Sep 04 - BHP awards tender for LNG-fuelled bulk iron ore carriers
BHP Group said on Friday it has awarded a tender to charter five bulk iron ore carriers powered by liquefied natural gas (LNG), aiming to cut greenhouse gas emissions on voyages to biggest customer China by more than 30%. The contract for five LNG-fuelled Newcastlemax bulk carriers to carry ore between Western Australia and China was awarded to Singapore-based Eastern Pacific Shipping, and will run for five years from 2022, the global miner said.

Sep 04 - Brazil prosecutors ask court to remove Vale managers over safety concerns
Federal prosecutors in Brazil's Minas Gerais state are seeking a court order for miner Vale SA to replace executives they accuse of disregarding safety procedures following two deadly mining disasters. They have asked a court in Minas Gerais to name an interventor to take charge of Vale's safety program, according to a statement the prosecutors' office shared with Reuters.

 Sep 04 - Striving for green recovery, EU adds lithium to critical materials list
The European Commission added battery element lithium to its critical raw materials list on Thursday and set out a plan to guarantee their supply to support a green recovery. The European Union needs to diversify its sources of materials, ranging from silicon to rare earths, the Commission said, an issue highlighted after global supply chains were disrupted when the COVID-19 pandemic struck.

 Sep 04 - Eramet's SLN nickel unit asks court to name expert for rescue plan
Nickel miner SLN has asked a commercial court in New Caledonia to appoint an expert to help with discussions over a rescue plan, its parent company Eramet said on Thursday. SLN submitted on Wednesday a request to the court to name an expert under a temporary procedure, an Eramet spokeswoman said.

Sep 03 - Brazil prosecutors ask court to remove Vale managers over safety concerns
Federal prosecutors in Brazil's Minas Gerais state are seeking a court order for miner Vale SA to replace executives they accuse of disregarding safety methods in the aftermath of two deadly mining disasters. They have asked a court in Minas Gerais to name an interventor to take charge of Vale's safety program, according to a statement the prosecutors' office shared with Reuters. 

Sep 03 - China's aluminium import surge a sign of global disconnect: Andy Home
China imported more aluminium than it exported in July. This is a very rare phenomenon. China, after all, is the world's largest producer of the light metal, accounting for 57% of global output in the same month, according to the International Aluminium Institute. 

Sep 03 - South Africa's Impala Platinum annual earnings soar nearly 400%
South Africa's Impala Platinum Holdings Ltd (Implats) on Thursday reported a nearly 400% jump in annual earnings, boosted by higher metals prices and a weaker rand currency despite the impact of COVID-19. The platinum miner posted headline earnings per share (HEPS) for the year ended June of 20.75 rand ($1.23), or 391% higher compared with 4.23 rand a year earlier.

Sep 03 - Chile's state miner Codelco sees copper production drop in July, private mines up
Chile's state-owned copper miner Codelco saw a 4.4% drop in year-on-year production in July as the coronavirus hit its peak in the nation and forced the company to scale back staffing, slow projects and switch off a smelter. Codelco produced 133,300 tonnes of copper in July, up 2.3% over the first seven months of 2020 compared to the previous year, while production at Escondida mine owned by BHP rose 3.8% in July to 100,900 tonnes, and production from Collahuasi mine, majority owned by Anglo American and Glencore, rose 22.8% in July to 58,100 tonnes.

Sep 03 - Papua New Guinea entity seeks talks with Barrick over mine restart - report
Papua New Guinea's Kumul Minerals Holdings Ltd is open to talks with Canada's Barrick Gold and its joint venture partner to restart production at a highlands gold mine, the state-owned miner's chairman said, according to a report on Wednesday. The overture follows this week's dismissal by Papua New Guinea's National Court of Barrick's request for a review of the government's earlier refusal to extend Barrick's lease at the remote Porgera mine.

Sep 02 - Commodity trader Traxys to sell Wheaton's cobalt metal, rivalling majors – sources
Trading firm Traxys has won a tender to sell cobalt metal for Wheaton Precious Metals, two sources familiar with the matter said, in a deal that propels it into the big league to rival the likes of Glencore in the valuable commodity. Two years ago, Toronto-listed Wheaton agreed a deal that would give it access to substantial volumes of metal from January 2021 at a significant discount to the market price.

Sep 02 - India's August gold imports doubles y/y to hit 8-month peak- govt source
India's gold imports in August nearly doubled from a year ago to the highest level in eight months on an improvement in investment demand and as some jewellers restocked after New Delhi eased lockdowns, a government source said on Wednesday. The world's second-biggest consumer of the precious metal imported around 60 tonnes of gold in August, up from 32.1 tonnes a year ago, the source said. The source asked to remain anonymous since he is not authorised to speak to the media.

Sep 02 - BHP to tap green energy to mine coal in Australian state
Global miner BHP Group said on Tuesday it has signed an agreement to use more renewable energy at its coal mines in Australia's Queensland state which it expects will help it cut its indirect emissions such as those from fuel and power in the country by 20% in five years. The move comes as BHP prepares to update the market on its climate actions next week which will include targets to cut operational emissions by 2030, as part of its broader commitment to reach net zero emissions by 2050.  

Sep 02 - Fitch upgrades Brazil's miner Vale, estimates $2 billion in dividends
Fitch has upgraded the credit rating of Brazilian miner Vale S.A., saying the iron ore producer has lowered its chances of default after improving dam safety since a deadly disaster in 2019, the rating agency said in a note on Tuesday. The upgrade to "BBB" from "BBB-minus" applies to both foreign and local currency long-term issuer default ratings, Fitch said.

Sep 02 - Barrick to appeal lost challenge over PNG mining rights
Barrick Gold Corp has lost a court challenge in Papua New Guinea over rights to a highlands gold mine and intends to appeal to the country's Supreme Court, the miner said on Tuesday, prolonging a dispute that has halted output as gold prices soar. Papua New Guinea refused to extend Barrick's lease over the remote Porgera mine in April, and this week the National Court dismissed Barrick's request for a review of that decision.

Sep 02 - Peru copper mining almost 'completely recovered' from pandemic - official
Copper mining in Peru, the world's No. 2 producer, is almost completely recovered from the impacts of the coronavirus pandemic, a government official said on Tuesday. Peru's copper production, however, fell 2.2% in July, compared with the same period a year earlier, to 198,796 tons, under the weight of the pandemic, which restricted mining, the vice minister of energy and mines, Jaime Galvez, said in a virtual conference.

Sep 01 - Nippon Steel to seek M&As overseas, but not in Japan - president
Japan's top steelmaker Nippon Steel Corp is seeking overseas mergers and acquisitions (M&As) but not for further M&A deals at home, its president, Eiji Hashimoto, said on Tuesday. "We are not considering to proceed with any further M&As in Japan, but we want to seek M&As overseas," Hashimoto told a news conference, the key growth markets for Nippon Steel being India, the United States and ASEAN countries. 

Sep 01 - U.S. moves to curb steel imports from Mexico, Brazil
U.S. President Donald Trump's administration took new steps to curb steel imports from Brazil and Mexico on Monday, boosting protections for battered U.S. steelmakers and jobs in the election battleground states of Pennsylvania, Ohio and Michigan. The U.S. Trade Representative's office said it was reducing Brazil's remaining 2020 quota for semi-finished steel imports into the United States to 60,000 metric tons from 350,000 tons "in light of recent deterioration in market conditions brought on by the COVID-19 pandemic affecting domestic steel producers."

Sep 01 - Buffett looks to Japan with $6-bln bet on five biggest trading firms
Berkshire Hathaway Inc has bought a 5% stake in each of Japan's five biggest trading houses, together worth over $6 billion, marking a departure for Chairman Warren Buffett as he looks beyond the United States to diversify his conglomerate. The long-term investment in Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co Ltd and Sumitomo Corp could see the stakes rise to 9.9%, Berkshire said on Sunday, Buffett's 90th birthday.

Sep 01 - Chinese aluminium company Zhongwang scales back European operation
Aluminium products company China Zhongwang Holdings has scaled back its European sales operation in a move that two sources close to the matter said is a result of EU anti-dumping investigations and the coronavirus-induced economic downturn. Zhongwang, which has its European office in Frankfurt, is the world's second-biggest manufacturer of aluminium extrusions widely used in the transport, construction and electronics industries. 

Sep 01 - China copper firm Daye ups output target after loss, delays smelter launch
China Daye Non-ferrous Metals Mining Ltd, the Hubei-based copper producer hit hard by the coronavirus outbreak earlier this year, on Monday defiantly raised its annual production target after posting a first-half net loss. Daye, located near the virus epicentre of Wuhan, said it would ensure production of 510,000 tonnes of copper cathode this year, up from the 505,000 tonnes annual target set in March.

Sep 01 - Largest union at Colombia coal mine Cerrejon on strike
The largest workers union at the Colombian coal mine Cerrejon walked out on strike on Monday, the group said, after its members voted overwhelmingly to support the move following a collapse in contract negotiations. Some 99% of members of the Sintracarbon union who voted on possible strike action earlier this month backed the walkout over arbitration.

Sep 01 - Sweden's HYBRIT starts operations at pilot plant for fossil-free steel
Swedish green steel venture HYBRIT, owned by SSAB, state-owned utility Vattenfall and miner LKAB, on Monday started test operations at its pilot plant for fossil-free steel in Lulea, Sweden. A successful development of the HYBRIT project could have big implications for efforts to cut carbon dioxide emissions, with SSAB alone accounting for 10% of Sweden's total and 7% of Finland's.

Sep 01 - AngloGold Ashanti, Barrick Gold to sell 'Morila the gorilla' stakes
AngloGold Ashanti and Barrick Gold will sell their effective 80% stake in the Morila Gold Mine in Mali, the miners said on Monday, as political crisis grips the West African nation after soldiers seized power in a coup. Australian company Mali Lithium will buy the firm that holds the two miners' stakes in the mine - the other 20% of which is owned by the government of Mali - for a fee estimated at between $22 million and $27 million, Barrick Gold and AngloGold Ashanti said.

Aug 31 - Rio vows to preserve ancient Australian rock shelter after outcry over caves blast
Rio Tinto has pledged to protect a 43,000-year old rock shelter on the fringe of its Silvergrass iron ore mine in Western Australia as it reviews heritage sites following outrage over the destruction of sacred ancient caves this year. Rio Tinto, which has state government approval to damage the site, told the Wintawari Guruma people, its traditional owners, of its intention to preserve the rock shelter last week, although the Wintawari say they have yet to receive confirmation in writing.

Aug 31 - Defying trade tensions, Chinese buyers snap up Indian steel
India's steel exports more than doubled between April and July to hit their highest level in at least six years, boosted by a surge of Chinese buying in defiance of tensions between Beijing and New Delhi. Traders said reduced prices had driven the purchases as Indian sellers sought to get rid of a surplus generated by the impact of COVID-19 on domestic demand and generate much-needed income. 

Aug 31 - China's Tianqi Lithium posts $101 mln net loss in H1 as prices plunge
Tianqi Lithium Corp, one of the world's top lithium producers, on Sunday posted a hefty half-year loss as the coronavirus outbreak weighed on prices for the commodity used in electric-vehicle batteries. The Chinese firm, which is struggling to repay a $3.5 billion loan taken out to buy a stake in Chilean miner SQM in 2018, said in a filing to the Shenzhen Stock Exchange it made a 696.57 million yuan ($101.47 million) net loss in January-June.

Aug 31 - China's iron ore imports set for strong August, but where is all the steel going?: Russell
China is set to record another month of strong iron ore imports in August, helping to justify the ongoing resilience in the price of the main ingredient in steel. What's harder to quantify is exactly what's happening to all the steel being produced.

Aug 31 - China ministry says no environmental approval yet for copper ore blending plants
China's environment ministry said it has not approved any application to build copper concentrate blending facilities so far this year, as copper producers fretting over raw material supply seek permission to operate the controversial plants. Amid coronavirus-related mining curbs abroad, Chinese copper smelters including Jinchuan Group, Jiangxi Copper and Daye Nonferrous are pursuing blending projects, which mix "dirty" concentrate - containing high amounts of impurities - with clean material to ensure they have enough feedstock. 

Aug 31 - Brazil says is confident U.S. steel quota to be lifted in time
Brazil believes steel import quotas recently imposed upon the nation by the United States will be lifted as market conditions improve, the foreign ministry said in a statement on Saturday. Late on Friday, the White House announced that it was re-imposing import quotas on certain Brazilian steel products, as domestic producers deal with a slumping market.

Aug 31 - China Moly's H1 cobalt production down 24% year/year
China Molybdenum Co, one of the world's biggest cobalt producers, saw its output of the battery metal fall 24% year-on-year in the first half, according to Reuters calculations based on company filings. China Moly, which operates the Tenke Fungurume mine in the Democratic Republic of Congo (DRC), said in a statement on the Shanghai Stock Exchange it produced 6,543 tonnes of cobalt metal in January-June this year. 

Aug 31 - Barrick, Chinese firm to challenge PNG's 'purported grant' of mine lease
Barrick Gold and a Chinese partner on Friday said they would challenge Papua New Guinea's apparent move to grant a 20-year lease for the Porgera gold mine to a state-backed firm, the latest escalation in their dispute with the country. Barrick Niugini Ltd (BNL), the joint venture that operates Porgera, said in a statement that it would challenge the "purported grant" of the special mining lease by PNG Prime Minister James Marape to state-owned Kumul Minerals Holdings Ltd as "unlawful and invalid."

Aug 31 - Speculators cut bullish bets on COMEX gold - CFTC
Hedge funds and money managers reduced their bullish positions in COMEX gold and raised them in silver contracts in the week to Aug. 25, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also upped their net long positions in copper futures and options, the CFTC data showed.

Aug 31 - Jiangxi Copper second quarter profit rises but inventory, writedowns weigh
China's Jiangxi Copper Co reported a 5% rise in second-quarter profit as higher production and a rally in copper and gold prices cushioned the impact of the coronavirus and writedowns on inventory and assets. For the first half, net income fell 42.7% to 745.3 million yuan ($108.6 million), a filing to the Shanghai Stock Exchange showed.

Aug 28 - Freeport Indonesia workers end protest over COVID-19 lockdown
Workers at Indonesia's Grasberg gold and copper mine on Friday ended a protest demanding an easing of a coronavirus lockdown at the mine operated by a local unit of Freeport-McMoran Inc, a workers' representative and the company said. Mining operations were disrupted after protesters had blocked access to the world's second-largest copper mine since Monday, calling on the company to resume a bus service to allow them to travel to a nearby town, and for a bonus payment.

Aug 28 - Glencore puts entire stake in Mopani on the table in talks with Zambia - sources
Glencore will likely sell its entire 73.1% stake in Zambia's Mopani Copper Mines to the government's mining investment arm ZCCM-IH rather than becoming a minority stakeholder, two sources with direct knowledge told Reuters. Zambia and Swiss-based Glencore are at "cross purposes" over Mopani, Zambian Mines Minister Richard Musukwa had said on Tuesday when he announced ZCCM-IH aims to increase its shareholding in Mopani to 51% "or even more", from 10% currently.

Aug 28 - Iranian vessel loads with Venezuelan alumina, amid closer ties - sources
An Iranian-flagged vessel loaded a cargo of alumina in Venezuela this month after delivering supplies for an Iranian supermarket in the South American nation, three sources familiar with the shipment said, in the latest sign of closer ties between the U.S.-sanctioned nations. Reuters could not determine who the customer for the alumina cargo was, nor where it was destined. The Golsan, a general cargo ship with a capacity to carry 22,882 tonnes, is currently sailing east across the Atlantic Ocean, but still signals its destination as the La Guaira port in Venezuela, according to Refinitiv Eikon data.
Aug 28 - LME warehouse wars rumble on in the Malaysian jungle: Andy Home 
The London Metal Exchange (LME) last week approved the listing of two new storage units in Port Klang, confirming the Malyasian port's rapid emergence as a major LME warehousing hub. Port Klang held 1.01 million tonnes of registered metal at the end of July, 43% of the total inventory in the exchange's global delivery network.

Aug 28 - Operations at Indonesia's Weda Bay nickel smelter resume after flood 
Activities at Indonesia's Weda Bay smelter complex, one of the country's main nickel processing hubs, returned to normal on Thursday after being hit by floods a day earlier, its operator said. In a video released by the company, Bilal Zhau, a spokesman with operator PT Indonesia Weda Bay Industrial Park (IWIP), said water had receded in the industrial park area, allowing the nickel smelter to resume.

Aug 28 - Nippon Steel says iron ore prices likely to ease towards March
China's strong steel demand and global supply fears amid Sino-Australian tension are pushing iron ore prices higher and hurting steelmakers' profits, but the market is likely to drop off towards March next year, a Nippon Steel executive said. "The iron ore rally on the back of solid China demand is giving pains to steelmakers worldwide, except for Chinese mills, as the economy of the rest of the world is falling," Nippon Steel Executive Vice President Katsuhiro Miyamoto told Reuters in an interview on Wednesday.

Aug 28 - China Baosteel's H1 net profit tumbles, hurt by coronavirus, rising ore costs
Baoshan Iron & Steel Co Ltd, China's top listed steel producer, said on Thursday net profit slumped 36.87% in the first six months of 2020, pressured by the coronavirus pandemic and climbing raw material prices. However, the company, known as Baosteel, expects demand for cold-rolled steel products to support second-half performance.

Aug 28 - Miner Boliden to invest 40 mln euros in Harjavalta nickel expansion
Mining and smelting group Boliden will invest 40 million euros ($47.47 million), mainly in 2021, to expand nickel operations at its facility in Harjavalta, Finland, it said in a statement on Friday. The Swedish company said the expansion at Harjavalta, the largest nickel smelter in the European Union, included a new concentrate dryer and increased capacity in the electric smelting furnace.

Aug 28 - South Africa's Northam Platinum annual earnings more than double
South Africa's Northam Platinum on Friday posted a 150% rise in full-year earnings, fuelled by higher metals prices, increased sales revenue and a weaker rand currency. The miner reported normalised headline earnings per share (HEPS) of 676.3 cents ($0.39) for the full year ended June from 270.1 cents a year ago.

Aug 27 - Rusal plans to quit China aluminium JV, set up shop in Shanghai - sources
United Company Rusal has decided to pull out of an aluminium trading joint venture in southern China, partly due to concerns over the low volumes it has been selling, three sources with knowledge of the matter said. Separately, the Russian firm is setting up a new office in Shanghai to boost its marketing presence in China, the world's biggest aluminium market, a Rusal spokeswoman said.

Aug 27 - China extends application deadline for new scrap metal certification
China's non-ferrous metals recycling body has extended until the end of the year the deadline for companies to apply to become certified suppliers or importers of high-grade copper and aluminium scrap, it said on Wednesday. The world's biggest metals consumer is overhauling the system under which it imports scrap as it prepares to implement a wider ban on inbound waste shipments, which the metals industry had feared might cut supply of recyclable material.

Aug 27 - Brazil state seeks $4.8 bln Vale asset freeze over dam disaster
Authorities from Brazil's Minas Gerais state are seeking a freeze on nearly $5 billion in assets from miner Vale SA as a partial payment to cover economic and other damages from last year's deadly Brumadinho dam disaster. In a statement on Wednesday, state and federal prosecutors in Minas Gerais said they had sent a joint petition seeking a judge's order for Vale to freeze 26.7 billion reais ($4.78 billion) in assets for eventual restitution to the state.

Aug 27 - Electric cars to account for 79% of lithium demand by 2030 - Chile
The electric car industry will dominate demand for lithium over the next ten years, Chilean state mining agency Cochilco said on Wednesday, accounting for more than three quarters of the ultralight battery metal's consumption by 2030, up from one third in 2019. Cochilco said demand for lithium for electric vehicles had been muted this year because of the coronavirus pandemic, expected at around 75,000 tonnes, but would surge to 1.4 million tonnes by 2030.

Aug 27 - China's net gold imports via Hong Kong tick up in July
Net gold imports into China via Hong Kong crawled up for a second straight month in July but remained significantly lower than the same time last year, data showed on Wednesday, as pandemic-led curbs continued to sour demand. Net imports via Hong Kong to China, the world's top gold consumer, rose to 1.4 tonnes in July from the 0.87 tonnes in June, data from the Hong Kong Census and Statistics Department showed. Net imports were still more than 82% down on the same period in 2019.

Aug 27 - Chinese environment inspectors to audit Chinalco, other state entities and regions
China's environment ministry is sending inspection teams to Aluminum Corp of China (Chinalco), the National Energy Administration, as well as other state-run entities and three Chinese regions, in its latest round of environmental audits. A total of seven teams of central-government inspectors have been assembled and will carry out their audits on-site for around one month, the Ministry of Ecology and Environment said in a statement on its website on Thursday.

Aug 27 - Wage talks with Kumba Iron Ore hit deadlock, union says
South Africa's National Union of Mineworkers (NUM) on Wednesday said that wage negotiations with Kumba Iron Ore, owned by Anglo American, were deadlocked and the union had declared a dispute, a move that is one step short of a strike. NUM, the majority union at Kumba, said the company had agreed a wage increase of 8% for the lowest-paid workers and 6.5% for the highest-paid, but the two parties had disagreed over sick leave. 

Aug 27 - S.Africa approves AngloGold's Harmony sale but with conditions
South Africa's mines ministry has given the green light for the sale of AngloGold Ashanti's last remaining assets in the country to Harmony Gold on condition that it does not delist from the Johannesburg stock Exchange. Harmony agreed in February to buy rival AngloGold Ashanti's assets in South Africa, including Mponeng, the world's deepest gold mine, for about $300 million.

Aug 27 - ArcelorMittal South Africa declares force majeure after blast furnace breakdown
Steel producer ArcelorMittal South Africa has declared force majeure after a breakdown of a blast furnace at its Newcastle Works in KwaZulu-Natal province, it said on Wednesday. The clause of force majeure, loosely translated as superior force, allows certain terms of an otherwise legally binding agreement to be ignored due to unavoidable circumstances.

Aug 26 - Freeport Indonesia mine operations hit by protests over COVID-19 rules
Mining operations at Indonesia's Grasberg gold and copper mine have been disrupted as protests by workers over coronavirus restrictions extended into a third day at the mine operated by a unit of Freeport-McMoran Inc. Workers have been blocking access to the world's second-largest copper mine in the easternmost region of Papua since Monday, demanding to be allowed to return to their families who live in a different town for the first time since March and seeking a bonus for working amid a pandemic.

Aug 26 - Zinc price outperforms, China steel demand a strong tailwind
A tailwind for zinc demand from booming Chinese steel production has pushed prices of the galvanising metal to their highest in more than nine months and helped it outperform other metals. Yet data such as warehouse stock levels suggest further significant gains are unlikely.

Aug 26 - Zambia's ZCCM-IH seeks to take control of Glencore's Mopani Copper Mines 
Zambia's mining investment arm ZCCM-IH is seeking a controlling stake in Glencore subsidiary Mopani Copper Mines, Zambia's mines minister said on Tuesday, after a disagreement over Glencore's plan to halt production. ZCCM-IH currently holds a 10% stake in Mopani Copper Mines. Glencore is the majority owner with 73.1% and First Quantum Minerals owns 16.9%.

Aug 26 - Doubts grow Alaska's Pebble Mine can satisfy new regulatory hurdles, shares tumble
Northern Dynasty Minerals Ltd shares fell more than 30% on Tuesday on rising doubts the company can clear regulatory hurdles for its Pebble Mine project in Alaska, and prominent politicians said it would harm the state's salmon fishing industry. The U.S. Army Corps of Engineers on Monday gave Northern Dynasty 90 days to explain how it would offset "unavoidable adverse impacts" to more than 3,200 acres (1,295 hectares) of wetlands were the mine to be developed.

Aug 26 - Botswana govt says no guarantee on De Beers sales deal by end-2020
The Botswana government said there was no guarantee that it would be able to renew a new 10-year sales agreement with De Beers before the end of December, when the current one expires, as the coronavirus pandemic has delayed negotiations. "The ideal situation would be to end the talks by December but there are no guarantees that will happen," said Mmetla Masire, Permanent Secretary in the Ministry of Minerals told Reuters in an interview late on Monday.

Aug 26 - Mexico mining exploration investment seen at lowest in 14 years
Mexico's mining industry expects exploration investments this year to decline to their worst level in 14 years, even before taking the coronavirus pandemic into account, the country's top sector association said on Tuesday. The Mining Chamber of Mexico (Camimex) said spending was expected to fall to $399 million this year due to a drop in investor confidence. The figure would be a 25.6% drop compared with last year and mark the lowest investment since 2006.
Aug 26 - China's Ganfeng sees first-half profit halve amid lithium price slump
Ganfeng Lithium, one of the world's top lithium producers, said on Tuesday its net profit almost halved in the first six months of 2020 as prices for the commodity used in electric vehicle batteries continued to slump. The Chinese company's net income reached 156.49 million yuan ($22.6 million) in January through June, down 47.1% from the same period a year earlier, it said in a filing to the Shenzhen Stock Exchange, adding that the coronavirus had affected its performance and the whole lithium industry.

Aug 26 - Brazilian steelmaker CSN hires banks for IPO of mining unit -report
Brazilian steelmaker Companhia Siderurgica Nacional has hired banks to manage the initial public offering of its mining unit, CSN Mineracao, newspaper Valor Economico reported on Tuesday. Bank of America, XP Inc, Banco BTG Pactual SA and Morgan Stanley will manage an offering that may raise 10 billion reais ($1.81 billion), the report said, citing anonymous sources

Aug 25 - Protest at Freeport's Grasberg mine in Indonesia extends to second day
Workers at Indonesia's Grasberg gold and copper mine operated by the local unit of Freeport-McMoRan Inc extended a protest into a second day on Tuesday as they demanded an easing of a coronavirus lockdown. More than 1,000 mine workers had joined the second day of protests and blocked access to the world's second-largest copper mine in the easternmost region of Papua, Yonpis Tabuni, a workers' representative said.

Aug 25 - Rio Tinto's weak response to cave blasts will trigger stronger reaction: Russell
Rio Tinto may have inadvertently triggered the law of unintended consequences with its blasting of an Aboriginal heritage site at one of its Australian iron ore mines, and the subsequent slap on the wrists for some senior executives. The board of Rio cut the bonuses of three senior executives including Chief Executive Jean-Sébastien Jacques as part of the company's review into the destruction of two historically significant caves in Western Australia state, against the wishes of the Aboriginal traditional owners.

Aug 25 - Miner Vale starts up iron ore grinding hub in China's Zhoushan
Brazilian mining giant Vale SA said on Tuesday it has started producing high-grade iron ore fines for pelletizing at its new grinding hub with China's Ningbo Zhoushan Port Group (NZP Group) in eastern Zhejiang province. The hub, located in the Shulanghu Ore Transfer Terminal in Zhoushan city, has three production lines and an annual capacity of three million tonnes of ground iron ore fines, Vale said in a statement. 

Aug 25 - Funds lift bullish bets on a tightening copper market: Andy Home
Copper's increasingly bullish optics are attracting the attention of fund managers. Speculative positioning on the CME's HG copper contract is at a two-year high. Copper has already staged a super-charged rally off its COVID-19 first-quarter lows and CME copper is currently challenging the $3.00 per lb ($6,614 per tonne) level.

Aug 25 - Copper market in 60,000 tonnes deficit in May 2020 - ICSG
The global world refined copper market showed a 60,000 tonnes deficit in May, compared with a 96,000 tonnes deficit in April, the International Copper Study Group (ICSG) said in its latest monthly bulletin. For the first 5 months of the year, the market was in a 1,000 tonnes surplus compared with a 270,000 tonnes deficit in the same period a year earlier, the ICSG said.

Aug 25 - Alaska's Pebble Mine told to offset damage as Republican opposition grows
The U.S. government placed an additional hurdle in front of Alaska's Pebble Mine project on Monday, giving developers 90 days to explain how they would offset damage to wetlands and popular fishing sites amid rising opposition to the project by prominent Republicans. The stipulation, in a letter from the U.S. Army Corps of Engineers to Vancouver-based Northern Dynasty Minerals Ltd, could delay final permit approval for the mine. The company described the request as routine.

Aug 25 - Canada's Midland in nickel exploration funding deal with BHP
Midland Exploration Inc said on Monday it had struck a funding deal with a subsidiary of BHP Group Plc for nickel exploration in the Canadian province of Quebec. The company's partnership with Rio Algom Ltd to explore nickel in Nunavik comes as demand for the metal surges from use in automotive batteries to power electric cars.

Aug 25 - Bolivia's largest mine suspends operations again due to pandemic
Bolivia's San Cristóbal mine, a huge deposit of zinc, lead and silver, has suspended operations for a second time due to the coronavirus outbreak, it said on Monday, as COVID-19 infections continued to spread in the landlocked South American nation. The company, a wholly owned subsidiary of Japan's Sumitomo Corp, had previously suspended operations in March, before resuming production in May.

Aug 24 - Rio Tinto stops short of axing leaders over sacred caves blast
Rio Tinto said on Monday it will cut the short-term bonuses of some senior executives but stopped short of leadership overhaul following review of the company's destruction of two ancient caves in Australia. Chief Executive Jean-Sébastien Jacques and two other leaders will take financial penalties after the world's biggest iron ore miner legally destroyed two historically significant sacred caves in Western Australia state - against the wishes of Aboriginal traditional owners - as part of a mine expansion.

Aug 24 - China turns net aluminium importer in July for 1st time since 2009
China's July aluminium imports leapt nearly sevenfold year-on-year to their second-highest level on record, customs data showed, as a rare price phenomenon saw the world's top exporter of the metal turn net importer for the first time since 2009. Arrivals of unwrought aluminium and aluminium products into China came to 391,297 tonnes last month, the General Administration of Customs said on Sunday.

Aug 24 - Australia's Fortescue posts record profit as chairman gains $800 mln
Fortescue Metals Group reported on Monday record profit for the full year ending in June and quadrupled its final dividend following record iron ore shipments and a surge in ore prices in 2020. The surging prices and shipments fuelled a 70% surge in Fortescue's shares this year. The increased dividend payout should mean a windfall of more than A$1 billion ($803.26 million) for the company's biggest shareholder, Chairman Andrew Forrest.

Aug 24 - Congo grants new export ban waivers for copper, cobalt, tin 
Democratic Republic of Congo on Saturday gave mining companies an indefinite waiver to an export ban on cobalt hydroxide and carbonate, as well as tin, tungsten, and tantalum concentrates after meeting the country's biggest miners in Kinshasa. The mines ministry also announced an export ban waiver on copper concentrate, but said the duration of that waiver was still to be determined, with companies expected to submit proposals a week from now.

Aug 24 - Indonesia's biggest nickel smelter says output not disrupted by worker protest
Operations at Indonesia's largest nickel smelting facility were not disrupted by worker protests outside the plant on Saturday over shifts during the coronavirus pandemic, a spokesman for PT Indonesia Morowali Industrial Park (IMIP) said on Monday. "Factories' operations continued running," spokesman Dedy Kurniawan, told Reuters, saying the situation has returned to normal since the protest. The IMIP compound has capacity for at least 30 nickel processing lines.

Aug 24 - Northern Dynasty's U.S. unit denies report Alaska mine project to be blocked
The U.S. unit of diversified Canadian miner Northern Dynasty Minerals Ltd on Saturday denied a media report that said the administration of U.S. President Donald Trump plans to block its proposed Pebble Mine in Alaska early next week. Politico reported earlier on Saturday that Trump was planning to block the proposed Pebble Mine, which environmentalists argue would damage the surrounding salmon-rich habitat, and the people and wildlife that depend on it.

Aug 24 - Speculators raise bullish bets on COMEX gold, silver - CFTC
Hedge funds and money managers upped their bullish positions in COMEX gold and silver contracts in the week to Aug. 18, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also increased their net long positions in copper futures and options, the CFTC data showed.

Aug 24 - Thyssenkrupp steel unit aims for return to profit in fiscal year 2021/22 - WAZ
Thyssenkrupp's steel division aims to return to profit in the 2021/22 fiscal year, encouraged by a recent slight recovery after a slump due to the coronavirus pandemic, the head of the division told a newspaper. Unit head Bernhard Osburg, however, told WAZ daily that to achieve that return to profitability in the fiscal year beginning on Oct. 1, 2021, the business had its work cut out.

Aug 24 - Brazil seizes 70,000 tonnes of illegally mined manganese
Brazil has seized 70,000 tonnes of illegally mined manganese that four companies were preparing to ship to China from a northern port and confiscated the ore valued at 60 million reais ($10 million), the country's mining regulator said. The National Mining Agency (ANM) said the seizure took place on Friday at Porto de Vila do Conde close to the city of Belem in northern Pará state.

Aug 21 - Chile lithium producer SQM posts record sales, profits plagued by low prices 
Chilean miner SQM achieved record second-quarter sales of lithium even as low prices ravaged profits, the world's No. 2 producer of the metal used in electric car batteries said on Wednesday. SQM said it sold more than 12,600 tonnes of lithium in April through June, up 45% from the first three months of the year. 

Aug 21 - Speculators keep iron ore price sizzling, divorced from fundamentals 
Iron ore prices may extend their steep gains in coming weeks, buoyed by speculators and supply chain disruptions, but rising supplies are set to eventually undermine the rally. Iron ore is one of the top performing assets this year, with futures on China's Dalian Commodity Exchange surging by more than 30%, fuelled by the country's economic recovery from coronavirus turmoil. The spot price of benchmark 62% iron ore hit a 13-month high of $126.50 a tonne this week. 

Aug 21 - China Baowu Steel to take control of stainless steelmaker TISCO 
China Baowu Steel Group, the country's top steelmaker, has agreed to take a controlling stake in stainless steel giant Taiyuan Iron & Steel (Group) Co Ltd, also known as TISCO, in a move to further consolidate the country's mammoth steel sector. Baowu Group reached an agreement with Shanxi State-owned Capital Operation Co Ltd on Friday to take a 51% stake in TISCO, according to a filing on the Shenzhen Stock Exchange by Shanxi Taigang Stainless Steel, a TISCO subsidiary. 

Aug 21 - Metal markets caught out by strength of Chinese stimulus: Home 
London copper hit a two-year high of $6,707 per tonne on Wednesday, extending its super-charged rally from the March lows of $4,371. Where copper leads, the rest of the London Metal Exchange (LME) base metals tend to follow. 

Aug 21 - Japan July crude steel output falls 27.9 pct yr/yr 
Japan's crude steel output fell 27.9 percent in July from a year earlier to 6.05 million tonnes, the Japan Iron and Steel Federation said. Output, which is not seasonally-adjusted, increased 7.7 percent from June.

Aug 21 - Global zinc market surplus narrows in June to 2,000 tonnes 
The global zinc market surplus narrowed to 2,000 tonnes in June from 19,000 tonnes in May, data from the International Lead and Zinc Study Group (ILZSG) showed on Monday. During the first six months of the year, the global surplus was 205,000 tonnes compared to a deficit of 87,000 tonnes in the same period last year.

Aug 21 - Global lead market surplus narrows in June to 16,300 T – ILZSG 
A surplus in the global lead market fell to 16,300 tonnes in June from 45,300 tonnes in May, data from the International Lead and Zinc Study Group (ILZSG) showed on Thursday. In the first six months of the year, the lead market recorded a surplus of 78,000 tonnes, compared to a deficit of 13,000 tonnes in the same period of 2019, the ILZSG found.

Aug 21 - Miner B2Gold says Mali border shutdown to be short-lived after coup 
Miner B2Gold Corp expects the shutdown of land and air borders in Mali to last "days or weeks, not months," its chief executive said on Thursday, after Tuesday's overthrow of President Ibrahim Boubacar Keita. "The intention is to re-open as soon as possible," B2Gold CEO Clive Johnson told Reuters, citing discussions with government officials. 

Aug 21 - India's silver imports could tumble as scrap supplies surge, importers say 
India's silver imports are likely to fall by more than 40 percent from a year ago to the lowest level in eight years, with investors booking profit by selling stocks after local prices rallied to a record high this month, leading importers said. Lower imports by the world's biggest silver consumer could weigh on global prices that have risen more than 50% so far in 2020.

Aug 21 - Canada's Iamgold says sale process delayed for Mali mine amid unrest 
Canada's Iamgold Corp has delayed the sale process for its Sadiola gold mine in Mali because of political instability in the country, a spokeswoman said on Thursday. Iamgold said in December it had reached a deal to sell its 41% interest in the mine, a joint venture with AngloGold Ashanti Ltd, to Allied Gold Corp.

Aug 21 - Colombian coal mine Cerrejon's largest union votes to strike 
The largest workers union at Colombian coal mine Cerrejon said on Thursday its members voted overwhelmingly in support of strike action after contract negotiations between the two parties collapsed. Some 99% of votes were cast in favor of strike action, the Sintracarbon union said, after extended talks over contract negotiations ended without agreement almost two weeks ago.

Aug 21 - Poland's KGHM says Chile's Sierra Gorda mine may not need support from next year 
Polish copper producer KGHM's Sierra Gorda mine in Chile is likely to no longer need financial support from next year, it said on Thursday as the mine posted a 150% leap in second-quarter core profit despite risks related to coronavirus. KGHM owns a 55% stake in Chile's Sierra Gorda copper-molybdenum mine in the Atacama Desert that produces around 110,000 tonnes of ore per day.

Aug 20 - Australia's South32 profit plunges, defers share buyback decision 
Australian miner South32 Ltd on Thursday reported an 80.5% slump in full-year underlying profit on low prices for its key commodities and delayed a share buyback decision given uncertainty in global growth due to the COVID-19 pandemic. Prices of South32's top three commodities - metallurgical coal, aluminium and manganese - slumped in 2019 amid a trade dispute between China and the United States and remained weak as the pandemic disrupted businesses and hit production this year.

Aug 20 - BHP and Rio show the swings and arrows of China commodity exposure: Russell 
It may be a bit of an oversimplification, but in the current situation of the global coronavirus pandemic the world of commodities is effectively split between China and the rest. Nowhere is this more clearly illustrated than in the results of top global miners BHP Group and Rio Tinto.

Aug 20 - Mali's gold miners carry on digging despite coup, shares hit 
Companies mining gold in Mali said they were operating as usual while monitoring a political crisis that caused the country's borders to shut and hit their share prices on Wednesday. President Ibrahim Boubacar Keita resigned on Tuesday and dissolved parliament hours after soldiers detained him at gunpoint and seized power in a coup.

Aug 20 - Antofagasta earnings slump on weak copper prices, keeps dividend 
Antofagasta posted a 22.4% plunge in first-half core earnings on Thursday on lower copper sales and metal prices due to the COVID-19 crisis, although the Chilean miner said it would pay an interim dividend in line with its existing payout policy. The pandemic has hampered mining activity across the globe, with Antofagasta suspending the expansion of its flagship Los Pelabres mine in April for about four months, and operating with two-thirds of its workforce at all its mines.

Aug 20 - South Africa's Gold Fields profit soars on surge in bullion prices 
South African miner Gold Fields reported a four-fold jump in half-year earnings on Thursday, benefiting from a surge in the price of the precious metal and lower-than-expected COVID-19 impact on its output. Headline earnings per share, the main profit measure in South Africa, for the six months ended June 30, rose to $0.20, from $0.05 a year earlier.

Aug 20 - Scotiabank to pay over $127 mln for precious metals price manipulation 
Bank of Nova Scotia has agreed to pay more than $127 million to resolve a series of U.S. regulatory charges, including over an alleged price manipulation scheme involving unlawful trading of precious metals futures contracts, the bank said on Wednesday. The settlements include a deferred prosecution agreement to resolve criminal charges of wire fraud and attempted price manipulation, and will require Scotiabank to retain an independent compliance monitor for three years.

Aug 20 - China's Antaike advises govt to stockpile cobalt but buying plans unclear 
Chinese state-backed metal research house Antaike said on Thursday it had advised Beijing to stockpile cobalt - a key ingredient in batteries for electric vehicles - but the timing of any state plans to purchase the metal was uncertain. Citing people familiar with the matter, Bloomberg News reported on Wednesday that China's National Food and Strategic Reserves Administration had drawn up plans to stockpile 2,000 tonnes of cobalt amid supply disruption in the Democratic Republic of Congo.

Aug 20 - China rare earths firm Shenghe hit by 'once-in-a-century' flooding 
Chinese rare earths producer Shenghe Resources Holding Co is set to lose tens of millions of dollars after reporting that "once-in-a-century" flooding in southwest Sichuan province had shut down plants and damaged inventory. Floods on China's Yangtze river, which passes through Sichuan, forced authorities to evacuate more than 100,000 people on Tuesday.

Aug 20 - MMG's half-year loss doubles as COVID-19 hits commodity prices 
Australia-based copper miner MMG Ltd said on Wednesday its half-yearly loss nearly doubled as the COVID-19 outbreak hit commodity prices and sales, but said economic recovery in China should lead to a stronger second half. The Hong Kong-listed company posted a half-yearly loss attributable to shareholders of $158 million, compared to an $81 million loss reported last year.

Aug 19 - Gold miners eye London, New York listings as Toronto loses shine 
Gold miners in Canada keen to tap new investors are eyeing secondary listings in London and New York, underscoring pent-up demand for the precious metal from generalist funds. Gold prices have soared 32% this year as central banks dial up stimulus measures in response to the COVID-19 pandemic. 

Aug 19 - Global copper smelting activity slides in July - satellite data 
Global copper smelting activity tumbled to the lowest levels in over two years in July, data from satellite surveillance of copper plants showed. The weak showing appeared to be partly due to increased maintenance work at smelters, a joint statement from satellite service SAVANT and broker Marex Spectron said on Tuesday.

Aug 19 - Reprieve for molybdenum prices from China's import surge 
An upsurge in Chinese demand and imports of minor metal molybdenum have revitalised prices of the stainless steel ingredient, but a reversal is expected as local production ramps up after disruptions. Molybdenum oxide prices are up nearly 10% to around $7.8 a lb since July's 3-1/2 year low at $7.1 a lb.

Aug 19 - New contracts, new platform as LME joins green revolution: Home 
The green revolution has rolled up to the doors of the London Metal Exchange (LME). The venerable 143-year old market for industrial metals may often seem a throwback with its red-leather-seated open outcry "ring" and arcane trading structure, but the LME is planning to lead the metallic drive towards a cleaner future.  

Aug 19 - China July refined copper output slips to lowest since March 
China's refined copper output in July fell from the previous month, official data showed on Tuesday, as smelters carried out summer maintenance and supply of copper concentrate remained tight owing to coronavirus-related mining curbs. Production of refined copper stood at 814,000 tonnes, the National Bureau of Statistics said. 

Aug 19 - Rio Tinto cuts 2020 refined copper outlook on smelter restart delay in Utah mine 
Rio Tinto on Wednesday cut its refined copper outlook for fiscal 2020, citing a delay in restarting a smelter at its mine in the U.S. state of Utah. The Anglo-Australian miner said the delays in restarting the smelter at its Kennecott mine were due to planned maintenance and expected it to be running in two months.

Aug 19 - China issues import quotas for another 14,530 T of copper scrap 
China has granted import quotas for another 14,530 tonnes of copper scrap and 2,610 tonnes of aluminium scrap for 2020, a notice on Tuesday from the China Solid Waste and Chemicals Management Center showed. The quotas are being closely watched as concerns mount that China, the world's biggest metals consumer, could leave itself short of scrap as it aims to cut imports of solid waste to zero by end-2020.

Aug 19 - Plaintiffs in Sierra Leone diamond mine lawsuit request freeze of Steinmetz subsidiary's assets 
Sierra Leoneans seeking damages for alleged environmental degradation around a diamond mine have applied for a freezing order on the assets of Octea, a subsidiary of Israeli billionaire Beny Steinmetz's BSG Resources (BSGR). In an affidavit to the high court of Sierra Leone, seen by Reuters, the lawyer for the plaintiffs said there was a "clear and present risk" the defendants could expatriate funds in order to avoid having to pay out if the court rules against them.

Aug 19 - Russia's En+ Group does not plan to pay dividends in 2020 - chairman 
Russian aluminium and hydropower group EN+ does not expect to pay dividends during this calendar year due to uncertain global economic conditions, board chairman Greg Barker said on a call on Tuesday. Describing the board's approach as "cautious", Barker said it was too early to say whether a dividend will be paid next year on the back of the group's 2020 financial results.

Aug 19 - China's Shanghai exchange approves steel companies to serve as factory warehouses 
China's Shanghai Futures Exchange on Tuesday approved three steel companies as the exchange's first batch of designated factory warehouses for steel rebar futures delivery, in an effort to reduce logistics costs and further meet buyers' demand. Angang Steel Co., Jiangsu Shagang Group Co. and Jingye Iron and Steel Co., which are located in the northeast, north and east of China - the country's main steel production and consumption areas - were selected as factory warehouses, the exchange said in a statement.

Aug 18 - BHP falls short of expected profit, warns of slowing growth outside China 
BHP Group on Tuesday said it expects most major world economies except China to bear the brunt of a coronavirus-led downturn this year, reporting a 4% drop in annual profit that missed analysts' estimates. While miners have seen green shoots emerge from an economic pickup in the world's top metals user, as well as a boost in infrastructure spending, the risk of new virus outbreaks around the world threatens to undermine growth, BHP said.

Aug 18 - Japan metals manufacturers see pick-up in demand from automakers after Q1 plunge 
Japanese manufacturers of metals, including steel and aluminium, saw their output plunge in the April-June quarter as automakers temporarily shut factories to curb the spread of the COVID-19 virus and to match slumping demand. They expect a gradual pick-up in metals used in automobiles and other industries toward next March, but not enough to bring demand back to pre-pandemic levels, suggesting a smaller annual import of raw materials such as iron ore, coking coal and primary aluminium ingots. 

Aug 18 - Indian court refuses to allow reopening of Vedanta's copper smelter 
An Indian court refused to allow the reopening of a south Indian copper smelter, local media reported on Tuesday, over two years after it was shut over pollution concerns. Police in May 2018 killed 13 people protesting against alleged pollution from the smelter. A week after the bloodshed, the Tamil Nadu state government ordered the smelter shut.

Aug 18 - Asia Copper Week gathering in Shanghai cancelled - organiser 
The Asia Copper Week gathering of miners, traders and smelters of the metal in Shanghai in November has been cancelled this year, its Chilean organiser said, joining a long list of events to fall victim to the coronavirus outbreak. Chile's Center for Copper and Mining Studies, known as Cesco, said all Asia Copper Week events, including its annual gala dinner, had been cancelled, although the CEO summit will take place in a digital format.

Aug 17 - Commodity traders face rising finance costs as big banks pull out 
Commodity trade financing by the world's banks is drying up at a rate not seen in more than 20 years, leaving small and medium sized firms most exposed, banking and trading sources said. Banks are retrenching after the coronavirus crisis led to defaults by some trading houses, intermediaries in the global movement of oil, metals and agricultural goods which link producers and end-users, and also exposed a series of frauds.

Aug 17 - Indigenous groups in Chile's Atacama push to shut down top lithium miner SQM 
Indigenous groups in Chile´s lithium-rich Atacama salt flat, fresh off a resounding legal victory earlier in the week, said on Friday they will push to see top lithium miner SQM´s environmental permits revoked and its operations shut down. The Atacama Indigenous Council (CPA) in 2019 filed a lawsuit demanding regulators scrap a $25 million remediation plan developed by SQM after officials charged the miner with over- pumping lithium-rich brine from the salt flat.

Aug 17 - Tasmanian manganese smelter sale points to greener future for metals: Russell 
The sale of a manganese smelter in Tasmania isn't something that would normally gather too much attention in the wider world of global commodities, but it may be a harbinger of a wider move to more environmentally friendly steel and other metals. Diversified miner South32 said on Aug. 13 that it had reached a deal to sell its Tasmanian Electro Metallurgical Co (TEMCO) unit to UK-based privately-held GFG Alliance. 

Aug 17 - Tianqi Lithium president leaves embattled Chinese firm 
China's Tianqi Lithium Corp said its president Vivian Wu has left the company, as the indebted producer of a key commodity for electric-vehicle batteries looks for a way out of a perilous financial situation. Wu, who had been with the Chengdu-based firm since 2011, submitted a written resignation to Tianqi's board of directors on Wednesday, saying she was stepping down as president and director for personal reasons, according to a filing to the Shenzhen Stock Exchange dated Friday.

Aug 17 - Australia's Lynas posts annual loss, to raise capital to build local facility 
Australian rare earths producer Lynas Corp Ltd posted a smaller-than-expected annual loss on Monday and outlined plans to raise A$425 million ($304.94 million) to fund construction of an ore processing plant in Australia. Lynas expects to process low-level radioactive material from its Mt Weld mine at the new cracking and leaching plant in Kalgoorlie in Western Australia, shifting part of its operations off its Malaysian plant where it has faced stiff opposition due to environmental concerns.

Aug 17 - Politics trumps aluminium as U.S. reimposes Canadian tariffs: Home 
The United States will reinstate tariffs on imports of Canadian primary aluminium this weekend. This is not unexpected despite a ferocious rearguard lobbying campaign by a broad spectrum of U.S. consumers.  Aluminium has been a pillar of the Trump Administration's "America First" trade agenda from the start. Along with steel it was early designated a sector critical for national security, leading to the imposition of 10% tariffs on imports in 2018. Unfortunately, the pillar is wobbling. 

Aug 17 - Germany blocked Chinese metals takeover on military concerns - sources 
The German government rejected a bid by China's Vital Materials Co to buy PPM Pure Metals last month due to concerns about the target company's sales to the German military, two sources with knowledge of the matter said. PPM, which was part of Paris-listed Recylex SA and made high-purity minor metals such as antimony, used in semiconductors and germanium used in infrared detectors, stopped production at the end of July because of financial problems.

Aug 17 - China's Dalian exchange adds new deliverable brands for iron ore from Australia 
China's Dalian Commodity Exchange (DCE) said on Friday it has included Yandi Fines and Karara Concentrate as new deliverable brands for its benchmark iron ore futures in an effort to enhance stable market operations. Yandi Fines, with around 58% iron content produced by Australian miner BHP Group Ltd, and Karara Concentrate, with around 65% iron content jointly invested by China's Ansteel Group and Gindalbie Metals Ltd in Australia, will be introduced as new brands to the September 2020 futures contract and subsequent contracts, the DCE said in a statement. 

Aug 17 - China's CATL is developing new EV battery with no nickel, cobalt, exec says 
China's Contemporary Amperex Technology Co Ltd (CATL), a Tesla supplier, is developing a new type of electric vehicle (EV) battery that contains no nickel or cobalt, a company executive said on Saturday. Nickel and cobalt are key ingredients in the batteries that power EVs. Battery makers from Japan's Panasonic Corp to South Korea's LG Chem are lowering the use of expensive cobalt in their nickel-cobalt-aluminium (NCA) batteries or nickel-cobalt-manganese (NCM) batteries.

Aug 17 - Speculators cut bullish bets on COMEX gold, silver - CFTC 
Hedge funds and money managers reduced their bullish positions in COMEX gold and silver contracts in the week to August 11, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also decreased their net long position in copper futures and options, the CFTC data showed.

Aug 14 - China July aluminium output hits record amid stellar price rally
China's monthly aluminium output rose to a record high in July, official data showed on Friday, as the longest rally in domestic prices in more than a decade prompted smelters to restart production and launch new capacity. The world's top producer of the metal churned out 3.10 million tonnes of primary aluminium last month, up 3.1% from a year earlier, the National Bureau of Statistics said.
Aug 14 - China produces record crude steel in July on strong demand
China produced a record amount of crude steel in July as the government boosted infrastructure spending, while the manufacturing sector rebounded as the world's second-largest economy reopened after lockdown restrictions. The world's largest steel producer churned out 93.36 million tonnes of crude steel last month, 1.9% higher than the output seen in June and up 9.1% from July 2019, according to data from the National Bureau of Statistics (NBS).

Aug 14 - BHP to steer mining lobby groups' climate change policies
BHP Group said on Friday it will closely monitor the work of industry associations to ensure they match its climate position on keeping the world's warming to well less than 2 degrees Celsius. The world's largest listed miner has faced increasing pressure from investors worried that some mineral lobby groups, particularly in Australia, are promoting coal use in contravention of the goals of the Paris climate pact, and have urged BHP to stop funding them.

Aug 14 - Gold rush at Turkish bazaar a test of trust for lowly lira
Hasan Ayhan followed his wife's instructions last week and took their savings to buy gold at Istanbul's Grand Bazaar as Turks scooped up bullion worth $7 billion in a just a fortnight. With memories of a currency crisis which rocked Turkey's economy only two years ago fresh in his mind, the retired police officer was among those playing it safe as he queued in the city's sprawling covered market, where a screen showed the gold price rise by one Turkish lira ($0.1366) in just 10 minutes.

Aug 14 - London Metal Exchange plans low carbon aluminium platform
The London Metal Exchange on Thursday outlined plans to support sustainable metal production with a spot trading platform for low carbon aluminium and a register where producers can voluntarily log their metal's carbon-related details. The exchange will eventually look at other metals, but will start with aluminium because power is major component - sometimes up to 40% - in the smelting process.

Aug 14 - Russia's Rusal posts H1 net loss, sees weak aluminium prices in 2020
Russian aluminium giant Rusal said on Thursday its recurring net loss totalled $76 million in the first half of 2020 after a profit of $666 million a year ago as the novel coronavirus outbreak hit demand. Hong-Kong listed Rusal, the world's largest aluminium producer outside China, said that it expected global aluminium prices to continue to remain at depressed levels in 2020.

Aug 14 - Codelco CEO sees copper price steady at $2.80/lb thru 2020
Codelco Chief Executive Officer Octavio Araneda said on Thursday he expects the copper price to hold at around $2.80 per pound through 2020. Araneda, who has led Codelco through the coronavirus crisis in Chile, told reporters on a tour of the El Teniente mine that uncertainty still reigned.

Aug 14 - EU Commission opens anti-dumping probe into Chinese aluminium products
The European Commission on Friday began an investigation into whether China is dumping flat-rolled aluminium products in the 27-country European Union following a complaint. "The investigation will determine whether the product under investigation originating in the country concerned is being dumped and whether the dumped imports have caused injury to the Union industry," the EU executive said in its Official Journal.

Aug 14 - Bridgewater hedge fund boosts gold ETF investment to over $1 billion
Hedge fund Bridgewater Associates raised its investment in gold-backed exchange-traded funds by a third in the second quarter, buying the equivalent of 170,000 ounces of gold worth $340 million at current prices, a regulatory filing showed. The move is part of a wider rush among investors to buy gold, which they hope will hold its value as the coronavirus crisis upends markets and pushes down returns on bonds. 

Aug 14 - Australia's Newcrest misses forecasts, lower FY 21 gold output seen
Gold miner Newcrest Mining Ltd on Friday forecast lower output in fiscal 2021 due to issues in Papua New Guinea, as it posted a smaller-than-expected increase in annual profit. The country's biggest gold producer forecast gold output to be between 1.95 million ounces and 2.15 million ounces next year, down from the 2.2 million ounces produced in 2020.

Aug 14 - Miner Sibanye-Stillwater sees profit in first-half on higher gold prices
Miner Sibanye-Stillwater said on Friday it expects to swing to a profit in the first half of 2020 on higher gold prices and a strong dollar as well as lower impact to its operations from the coronavirus downturn. The precious metals company, which is also "positive" for the second half, said headline earnings per share (HEPS) for the six months to June is expected to be 350 cents compared with loss per share of 54 cents a year earlier when it was hit by strikes.

Aug 14 - Australia's Metro Mining to shut flagship mine early as virus chokes sales
Metro Mining Ltd said on Friday it would bring forward a planned wet-season shutdown of its flagship bauxite mine, as the COVID-19 crisis hit aluminium prices and made it difficult for the bauxite and thermal coal miner to secure sales. The Bauxite Hills Mine in Queensland is expected to cease shipping ore earlier than usual in mid-September and restart next April, the company said in a statement.

Aug 13 - Thyssenkrupp faces pressure to fix steel unit as losses mount 
Struggling conglomerate Thyssenkrupp on Thursday said its steel unit would rack up 1 billion euros ($1.2 billion) in operating losses this year, raising pressure to fix or sell the division. The expected loss at Thyssenkrupp Steel Europe, the continent's No.2 player after ArcelorMittal, comes as the sector suffers from cheap Chinese imports, high raw material prices and weak automotive demand.

Aug 13 - Shareholders seek BHP moratorium on Australian cultural site damage
The BHP Group mining company must commit to not damaging Aboriginal cultural sites as its expands its operations while a review of Australian heritage law is carried out, a shareholder group said in a resolution filed on Thursday. The proposal comes before BHP's financial results, due out next week, and after a government enquiry into how peer Rio Tinto legally destroyed ancient caves that showed human habitation stretching back 46,000 years, as part of an iron ore mine expansion.

Aug 13 - Australia's Port Hedland iron ore exports to China fall 17.5% in July
Australia's iron ore shipments to China from the hub of Port Hedland fell 17.5% to 38.1 million tonnes in July from the previous month, data from the Pilbara Ports Authority showed on Thursday. Exports were down from 46.2 million tonnes in June, the data showed. 

Aug 13 - Chilean regulator preps sweeping Atacama review as it abandons SQM legal battle
Chile's environmental regulator has withdrawn from its legal battle to defend a compliance plan by lithium miner SQM that it approved last year, according to a filing seen by Reuters, a decision that could prove a major setback as the miner seeks to ramp up output of the coveted battery metal. The Environmental Superintendent (SMA) also said it was planning a new "comprehensive management plan" for the Atacama salt flat in northern Chile where SQM and other companies mine lithium and copper. The flat supplies around one-quarter of the world's lithium, an ultralight metal that helps power electric vehicles and cell phones.

Aug 13 - Aluminium sector struggles to adopt common standards to cut emissions
The aluminium industry, one of the metals sector's largest emitters of greenhouse gas, is struggling to adopt common standards on greener processing as rivals focus on promoting their own products rather than the wider green market. Multiple initiatives are seeking to set low-carbon benchmarks as rivals fight for market share in a sector burdened by big surpluses. 

Aug 13 - Russia has $1.5 billion plan to dent China's rare earth dominance
Russia plans investment of $1.5 billion in rare earth minerals, critical to the defence, telecommunications and renewable energy sectors, as it strives to become the biggest producer after China by 2030, a top government official told Reuters. Russia's initiative is in line with other countries, such as the United States, which are also trying to curb their reliance on China, home to 63% of global rare earths production and 37% of global reserves.

Aug 13 - Australia's South32 to sell manganese alloy smelter TEMCO to UK's GFG Alliance 
Australian diversified miner South 32 Ltd said on Thursday it would sell its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Company (TEMCO) to UK-based conglomerate GFG Alliance. GFG will acquire 100% of the shares in TEMCO for a nominal amount once approval is received from Australia's foreign investment review board, South 32 said in a statement, but did not elaborate on the financial details.

Aug 13 - Shanghai exchange could launch international copper contract from late Q3 - sources
The Shanghai International Energy Exchange (INE) could launch a copper futures contract available to foreign participants as early as the end of the third quarter, four sources said. The contract is under review by the China Securities Regulatory Commission (CSRC), said one source with direct knowledge of the matter, adding that the exchange aimed for a launch late in the third quarter or early in the fourth quarter.

Aug 13 - China's booming metal imports an echo of the last crisis: Andy Home
China's imports of industrial metals are booming. Refined copper imports hit an all-time high of 494,000 tonnes in June and accelerated again in July with the preliminary trade figures implying another record high of 530,000 tonnes. Imports of unwrought aluminium, a mixture of primary metal and alloy, surged to 254,000 tonnes in June.

Aug 13 - Congo to meet miners to debate copper concentrate export waivers
Mining companies and copper and cobalt buyers have been invited to a meeting in Kinshasa next week to discuss if there is a way to maintain waivers to an export ban that are meant to expire in September, the mining minister said on Thursday. Congo, Africa's biggest copper producer, banned exports of copper and cobalt concentrates in 2013 to encourage miners to process and refine the ore within its borders.

Aug 12 - Chinese metals recycling body urges shippers to keep bringing scrap
The China Nonferrous Metals Industry Association's CMRA recycling branch (CMRA) is urging shippers to continue carrying copper and aluminium scrap, it said on Tuesday, citing concern over potential raw material shortages. New standards for high-grade copper and aluminium scrap have been effective since July 1, but authorities have yet to provide detailed guidance on implementation.

Aug 12 - Stainless surge revives nickel market, but surplus still looms
Rapidly rising stainless steel production in top consumer China has helped to preserve demand and prices of key ingredient nickel, but analysts still expect a supply overhang of the metal valued for its anti-corrosive properties. Benchmark nickel prices on the London Metal Exchange (LME) are near their highest in more than seven months at around $14,300 a tonne and up more than 30% since touching a 14-month low of $10,865 in March.

Aug 12 - CME delists Dubai gold refinery three weeks after listing it
U.S. exchange operator CME Group has removed Dubai gold refinery Al Etihad from the list of refiners whose bars can be used to settle gold futures contracts in New York, only three weeks after adding it. The exchange, the world's biggest gold futures trading venue, approved Al Etihad's bars on July 7 and delisted the refiner on July 31, market notices issued by CME show.

Aug 12 - Russia's Nornickel H1 profit slides as it sets aside $2 bln for fuel spill claim
Russia's Norilsk Nickel said on Tuesday its net profit plunged in the first six months of 2020 after setting aside $2.1 billion in reserves for an environmental damage claim after a major fuel spill in the Arctic. Nornickel, the world's largest producer of palladium and the leading producer of nickel, disputes the amount of compensation Russia's environmental watchdog has asked it pay voluntarily following the May 29 leak, which the watchdog has said threatens unprecedented damage to the Arctic.

Aug 12 - S.Africa's Northam Platinum sees higher annual profit
South Africa's Northam Platinum said on Wednesday it expects higher annual earnings, underpinned by higher metals prices and increased sales volumes. Normalised headline earning per share (HEPS) for the full year ended on June 30 is expected to be in the range of 624.53 to 690.27 South African cents.

Aug 12 - Peru unrest flares as pandemic second wave hits, with resources firms in focus
Angry residents in Peru's Andean and Amazon regions have attacked three mining and oil sector firms in the last week, two of which were forced to halt operations after deadly clashes, as a second wave of COVID-19 infections hits the country. The main reason: demand for economic aid and healthcare support during the pandemic, which has underscored stark divisions between the rich and often rural poor in the country, the world's second largest producer of copper.

Aug 12 - Aurubis maintains full-year earnings forecast after strong quarterly results 
Aurubis AG, Europe's largest copper producer, on Tuesday confirmed its earnings forecast for its current financial year, after posting a sharp rise in quarterly earnings mainly on uninterrupted high production at smelter sites during the coronavirus crisis. Operating earnings before taxes (EBT) in the third quarter of its 2019/20 financial year ended June 2020 rose 91% on the year to 42 million euros ($49.35 million) with copper concentrate (ore) processing at a high level, Aurubis said.

Aug 11 - Russia's Nornickel no longer needs shareholder agreement, says co-owner
An eight-year-old shareholder agreement signed by Russian mining giant Norilsk Nickel's major owners has become a relic of the past which the $44 billion miner does not need, Vladimir Potanin, its largest shareholder, told Reuters. Potanin's Interros holding, aluminium producer Rusal and some other stakeholders signed the agreement on dividend payouts to end a previous four-year conflict over the size of dividend payments, Nornickel's strategy and management.

Aug 11 - China's Minmetals, Jinchuan eye copper concentrate blending plant in Guangxi - sources
State-run metal producers China Minmetals Corp and Jinchuan Group are planning to build a copper concentrate blending facility in southern China's Guangxi region, two people with knowledge of the matter said. The plant will be located in the port city of Fangchenggang on the Gulf of Tonkin, the people added, declining to be named due to the sensitivity of the matter. Jinchuan already has a 400,000 tonnes per year copper smelter in Fangchenggang, in which trader Trafigura owns a 30% stake.

Aug 11 - Miner Barrick beats profit estimates as gold prices surge, warns on Papua New Guinea mine
Miner Barrick Gold beat quarterly profit estimates and hiked its dividend on Mondayd, but warned that a prolonged shutdown could jeopardize the long-term viability of its Porgera gold mine in Papua New Guinea. Barrick benefited from a rise in demand for the precious metal driven by economic uncertainty, and said key projects remain on track despite challenges tied to the coronavirus pandemic.

Aug 11 - China's aluminium, zinc options see slow start on Shanghai debut
China, the world's biggest consumer of aluminium and zinc, launched options contracts for both on the Shanghai Futures Exchange on Monday, drawing lukewarm interest on the first day of trade. The roll out follows the launch of copper options almost two years ago and comes after a recent rally in the base complex driven by a strong recovery in Chinese demand and concerns of supply disruption overseas. 

Aug 11 - Investors call for greater Rio accountability over destroyed ancient caves
British and Australian investment funds said on Monday that Rio Tinto's testimony last week over its destruction of ancient caves in Australia raised questions about the accountability of its senior leadership. Rio chief executive Jean-Sébastien Jacques was grilled by an Australian Senate panel on Friday over how the company had legally destroyed two prehistoric rock shelters, causing deep distress to their Aboriginal owners.

Aug 11 - Aurubis in advanced talks to sell flat rolled copper division
Aurubis AG, Europe's biggest copper producer, is making progress in its talks to sell its flat rolled products (FRP) division despite the coronavirus crisis, the company said on Tuesday. Aurubis said in December it hoped to sell the division in 2020. The company sees its FRP unit as non-core.

Aug 11 - Canada´s Teck to re-start work at Quebrada Blanca 2 copper project in Chile
Canada´s Teck said on Monday it would reinitiate work on its Quebrada Blanca phase 2 copper project in Chile after shutting it down in March because of the novel coronavirus outbreak. Teck vice president Amparo Cornejo said in a Chilean mining forum that the company was working closely with local authorities and hoped to reach full staffing levels at the project within three months.

Aug 10 - Fortescue reviews plans that threaten 60,000 year-old Australian site
Fortescue Metals Group said on Friday it will review plans at an iron ore mine in Western Australia after an Indigenous group said a planned expansion threatened sacred sites, including a 60,000 year old rock shelter. The mining company asked the government to delay a decision on a heritage exemption request as part of a mine expansion, it said in a statement, which would allow it to damage sites of cultural significance to the Wintawari Guruma people.
Aug 10 - China vacuums up global iron ore amid disquiet over price rally: Russell 
It's probably taken longer than expected, but finally there are signs of concern in China about the sustained rally in iron ore prices. The Dalian Commodity Exchange (DCE) last week fired a warning shot across the bows of investors in the main domestic exchange for iron ore, reminding clients to trade rationally amid market uncertainties.

Aug 10 - LBMA clears Perth Mint of serious wrongdoing in sourcing gold
The London Bullion Market Association (LBMA) said on Friday it would continue to accredit the Perth Mint after an investigation into allegations that it processed unethically sourced gold found no significant wrongdoing. The withdrawal of accreditation would have hurt the mint, one of the world's largest gold refiners, because big banks that dominate gold trading usually require it.

Aug 10 - Canada to impose retaliatory tariffs on U.S. goods, hopes for resolution 
Canada will slap retaliatory tariffs on C$3.6 billion ($2.7 billion) worth of U.S. aluminum products after the United States said it would impose punitive measures on Canadian aluminum imports, a senior official said on Friday. Deputy Prime Minister Chrystia Freeland told a news conference the countermeasures would be put in place by Sept. 16 to allow consultations with industry.

Aug 10 - Speculators cut bullish bets on COMEX gold, silver - CFTC
Hedge funds and money managers reduced their bullish positions in COMEX gold and silver contracts in the week to August 4, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also decreased their net long position in copper futures and options, the CFTC data showed.

Aug 10 - Livent CEO to EV industry: sign better deals or risk lithium supply 
The electric vehicle industry must pay more for lithium in order to spur investment and prevent future supply crunches of the battery metal, the chief executive of lithium producer Livent Corp said on Friday. Demand for EVs is expected to surge in coming years, spurred in part by government mandates, rising concern about climate change and other factors.

Aug 10 - Record bullion prices give South African gold miners a lifeline, risks remain
South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt over the next two years amid rising investor interest. Shunned by investors due to mines that are old, deep, and difficult to extract, the country's gold miners have traded at a discount to their global peers for years.

Aug 10 - BHP to pay $840 mln for early end to thermoelectric contract in Chile
Chilean copper mines Escondida and Spence, controlled by BHP, will jointly pay $840 million for an early end to a contract signed in 2008 with a coal-fired thermoelectric plant in the north of the country. BHP, like other mining companies in Chile, has been migrating its energy contracts to renewable sources to reduce its carbon footprint.

Aug 10 - Colombia coal miner Cerrejon and largest union fail to reach contract agreement
Cerrejon, one of Colombia's biggest coal producers, and its largest workers union concluded contract negotiations on Friday without reaching an agreement, the parties said. The 20-day direct settlement stage between the company and union Sintracarbon ended in early August and was extended for five days until Friday.

Aug 07 - China July copper imports surge to record as arbitrage pulls in metal 
China's copper imports rose to a record for a second straight month in July, customs data showed on Friday, buoyed by favourable international prices that kept an arbitrage window open and strong demand in the world's top consumer of the metal. Arrivals of unwrought copper and copper products into China were 762,211 tonnes last month, the General Administration of Customs said. That was up 16.1% from the previous record of 656,483 tonnes set in June and up 81.5% from 420,000 tonnes in July 2019.

Aug 07 - Trump reimposes tariffs on raw Canadian aluminum, Canada promises retaliation 
President Donald Trump on Thursday moved to reimpose 10% tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups. Canada pledged retaliation as tensions heightened between the close allies just weeks after a new continental trade deal between the United States, Mexico and Canada came into effect.

Aug 07 - China's July iron ore imports hit record high on robust demand 
China's iron ore imports in July surged to a record, up 24% from a year earlier, customs data showed on Friday, driven by shipments from miners and resilient demand as the economy bounced back after disruptions from the coronavirus pandemic. Arrivals of the key steelmaking ingredient were 112.65 million tonnes last month, according to data from the General Administration of Customs. That is up 10.8% from 101.68 million tonnes in June and above the 91.2 million imported in July 2019. 

Aug 07 - Antaike ups China 2020 copper import forecast, sees 400,000 T of net primary aluminium inflows 
esearch group Antaike made a nearly 13% upward revision to its forecast for China's refined copper imports in 2020, as tight raw material supply constrains domestic output, and said it sees net primary aluminium inflows totalling 400,000 tonnes. Antaike, the China Nonferrous Metals Industry Association's research arm, said on Thursday it saw refined copper imports totalling 3.5 million tonnes this year, analyst He Xiaohui told an industry conference in Beijing.

Aug 07 - AngloGold Ashanti half-year earnings rise more than 200% on higher gold prices 
AngloGold Ashanti on Friday reported a more than 200% increase in first-half earnings, boosted by higher gold prices, weaker local currencies and cost cutting measures. The gold miner said headline earnings per share, the main profit measure used in South Africa, for the six months ended on June 30 rose to 97 cents, or 234%, compared to 29 cents a year earlier. 

Aug 07 - Rio Tinto didn't inform cave blast owners of other mine plans - CEO 
Rio Tinto did not tell Aboriginal traditional owners of two ancient caves destroyed to mine iron ore about three alternative mine plans, its CEO told an inquiry on Friday, despite saying it had won fully informed consent for blasting. Rio Tinto CEO Jean-Sébastien Jacques faced an Australian Senate inquiry after the miner in late May legally destroyed the sacred caves which sat atop a high grade ore body it planned to mine, against the wishes of the traditional owners.

Aug 07 - Investors amassed 166 tonnes of gold in ETFs in July as prices surged 
Exchange traded funds (ETFs) swelled their gold holdings for an eight consecutive month in July, adding 166 tonnes worth $10 billion and helping push prices to record highs, the World Gold Council (WGC) said on Thursday. Massive purchases of gold by investors looking for an asset that will hold its value as the coronavirus upends markets have pushed prices up 35% this year. 

Aug 07 - Finland steel firm Outokumpu expects difficult third quarter 
Finnish stainless steel maker Outokumpu expects business to remain difficult in the third quarter, after second-quarter core operating profit halved from a year ago as the coronavirus crisis hit demand, it said on Friday. The pandemic battered the global steel sector in the first half of the year, especially in Europe, as swathes of industries that use steel shut down.

Aug 07 - Chile's Codelco to restart projects suspended because of coronavirus 
Chile's state-run miner Codelco, the world's largest copper producer, said on Thursday it would restart operations and projects it had suspended due to the coronavirus pandemic, beginning next week. The miner had been forced to delay several mine expansion projects as cases of the virus spread through its operations, though it has largely maintained output during the pandemic.

Aug 07 - Brazil suspends raid on illegal miners in Amazon indigenous land 
Brazil's Defense Ministry on Thursday suspended operations by environmental agents against illegal miners on an indigenous reservation in the Amazon, saying it was acting at the request of Munduruku tribe members who wanted mining on their land. The raid by environmental protection agency Ibama began on Wednesday, destroying excavators and water pumps used by wildcat miners prospecting for gold on rivers inside the reservation in Para state.

Aug 07 - Livent's quarterly loss misses expectations as lithium sales sag 
Lithium producer Livent Corp reported a quarterly loss on Thursday that fell short of Wall Street's expectations as demand for the electric vehicle battery metal sagged due to the coronavirus pandemic. Livent warned that results are unlikely to improve in the short term, with lithium stockpiles high across the globe and prices for the white metal sliding. Rival Albemarle Corp issued a similar warning earlier on Thursday.

Aug 06 - Glencore scraps $2.6 billion dividend as first-half earnings fall 
Glencore said on Thursday it was scrapping its dividend to focus on lowering debt as the COVID-19 pandemic forced it to book a $3.2 billion impairment charge. The miner and trader, which had expected to pay $2.6 billion in dividends, the economic outlook was too uncertain due to the coronavirus crisis to make the payout.

Aug 06 - Stunned by gold's record rise? There's more to come, analysts say 
The speed at which gold has broken above $2,000 an ounce has left some in the market fearing a correction, but many analysts predict more gains as the coronavirus crisis spurs investors to buy into bullion's relative safety. The record-breaking rally, which lifted gold as high as $2,055 on Wednesday, has made the precious metal one of 2020's best performing mainstream assets.

Aug 06 - Miners need more engineers to meet new tailings dam safety standard 
Mining companies need more skilled engineers if they are to meet strict new global safety standards for tailings dams aimed at preventing catastrophic failures like those in recent years that have killed hundreds of people and inundated nearby communities with mine waste. "Most companies are realizing that there is a skills gap, because you have senior people moving out and not enough younger people moving in," said mining engineering professor Priscilla Nelson, who is setting up a new tailings program at the Colorado School of Mines. 

Aug 06 - African supply bottlenecks fuel cobalt price surge 
Transport delays from South Africa against a backdrop of increasingly robust Chinese demand have fuelled a price rally for cobalt hydroxide, used to make chemicals for electric vehicle batteries. Chinese cobalt refiners have moved to replenish stocks of hydroxide feedstock as they gear up for a rebound in demand as coronavirus lockdowns are eased.

Aug 06 - Albemarle warns lithium sales sliding amidst weak EV market 
Albemarle Corp, the world's largest producer of lithium for electric vehicle batteries, warned on Wednesday that its third quarter sales and profit will dip as automakers produce fewer EVs due to the coronavirus pandemic. The warning came after the company posted a 45 percent drop in second-quarter profit due in part to low prices for the white metal caused by global oversupply. 

Aug 06 - Papua New Guinea's Ok Tedi copper mine halts output due to COVID cases 
Papua New Guinea's Ok Tedi copper and gold mine suspended output on Wednesday for at least 14 days, after seven workers tested positive for the coronavirus, the mine operator said. The company said it was immediately suspending operation for at least two weeks "to limit further transmission and allow contact tracing, isolation and testing procedures to be implemented," Chief Executive Musje Werror said.

Aug 06 - EU steel demand falls 12% in the first quarter - Eurofer 
Steel consumption in the European Union slid by 12% year-on-year in the first quarter as the COVID-19 pandemic worsened an already weak picture, industry group Eurofer said on Wednesday. The coronavirus crisis is likely to show a bigger impact in the second quarter because lockdown measures only kicked off in the last month of the quarter, a statement said.

Aug 06 - Chile's top copper miners boost June output during coronavirus peak 
Chile's largest copper mines boosted output in June, according to government statistics released late on Tuesday, churning out more of the red metal even as the coronavirus outbreak hit its stride in the South American mining powerhouse. The Chilean Copper Commission (Cochilco) reported that Codelco, the world's top copper producer, raised production by 2.5% from June 2019, to 131,900 tonnes. 

Aug 06 - EU extends anti-dumping duties on Chinese steel 
The European Commision said on Wednesday it had extended anti-dumping duties on imports of Chinese corrosion-resistant steel to stop producers avoiding existing duties by slightly modifying the material they export. The European Union set duties in February 2018 of between 17.2% and 27.9% for imports of certain corrosion-resistant steels from China to counter what it said were unfairly low prices.

Aug 06 - South Africa's diamond polishers look to lockdown lovers to add shine 
South Africa's diamond industry, famed for sales the world over and supplying gems for the British crown jewels, is looking closer to home to revive its fortunes following the coronavirus slump. Even before the new virus triggered the COVID-19 pandemic, diamond prices and demand were weak. Global economic weakness has exaggerated that and Anglo American's De Beers unit last week reported a plunge in earnings. 

Aug 06 - Canada's Barrick Gold considers switching primary stock listing to NYSE - WSJ 
Canadian gold miner Barrick Gold Corp is weighing moving its main listing from Toronto to New York, the company's chief executive said, a step that would weaken its traditional links to Canada, according to a Wall Street Journal report on Wednesday. Chief Executive Mark Bristow said the company was debating a move to the New York Stock Exchange, but added there were no current plans to do so, according to the WSJ report.

Aug 05 - Scotia bows out of gold and silver benchmarks, Citi joins 
Bank of Nova Scotia (Scotiabank) has left the group of banks and traders that set daily global gold and silver benchmark prices, and Citibank has joined, the London Bullion Market Association (LBMA) said on Tuesday. The benchmarks, overseen by the LBMA, are used in contracts around the world. They are set in auctions into which participant banks and brokers feed buy and sell orders from themselves and their clients. 

Aug 05 - Iron ore may overtake coking coal as 2020's weird commodity world continues: Russell 
In case there isn't already enough evidence that 2020 is shaping up as a very odd year in commodity markets, it's possible that the price of iron ore may soon exceed that of coking coal. The price of a tonne of iron ore and coking coal, on a cost and freight delivered basis to China, reached near parity on Tuesday, according to data from S&P Global Platts.

Aug 05 - Gold's mega rally faces $2,000 hurdle, but for how long? 
Gold's rally has halted just below $2,000 an ounce partly due to fierce technical resistance, but an eventual break above that level is likely, freeing prices for more record highs, technical analysts said. The gold price has surged 30% this year to an all-time peak around $1,975 an ounce and is one of 2020's best-performing assets.

Aug 05 - Top aluminium producer China Hongqiao quits international body 
China Hongqiao Group, the world's biggest aluminium producer, has left the International Aluminium Institute (IAI) only four years after joining the global industry body for the metal used in everything from cars to cans. The move means the Chinese aluminium giant has broken ranks with a body that represented companies producing more than 60% of the metal and its raw materials bauxite and alumina worldwide, prior to Hongqiao's departure.

Aug 05 - Congo to suspend value-added tax exemption for mining imports 
Democratic Republic of Congo is suspending the value-added tax (VAT) exemption on imports by mining companies in an effort to bolster state revenue, the budget minister said. Jean-Baudouin Mayo told the finance minister to implement the government's decision to suspend the exemption after cabinet agreed the move last week, according to a letter dated July 31 and seen by Reuters on Tuesday.

Aug 05 - Australia's Lynas to start building waste facility in Malaysia next year
Australian rare earths miner Lynas Corp said on Wednesday it aims to begin development of a permanent waste treatment facility in Malaysia by early 2021 and will apply for final regulatory approvals over the coming months. Lynas can build its facility in a waste disposal site identified by the Pahang state government, Khairy Jamaluddin, Malaysia's science, technology and innovation minister said in parliament on Tuesday.

Aug 05 - Peru copper and gold output nosedive in first half of 2020, ravaged by coronavirus - govt 
Peru, a top global metals exporter, saw its output of copper, gold and zinc nosedive in the first half of 2020, ravaged by restrictions put in place to curb the coronavirus outbreak, the government said on Tuesday. The world's No. 2 copper producer said production of the red metal plunged 20.4% in the first half of 2020 versus the same period in 2019.

Aug 05 - Brazil's BNDES raises $1.5 bln from sale of Vale shares 
Brazil's state-owned development bank BNDES raised 8.1 billion reais ($1.53 billion) by selling 135 million shares in miner Vale SA in an auction on Tuesday, the bank's President Gustavo Montezano said. The share sale reduced the BNDES stake in the world's second largest iron ore mining company to 3.7% from 6.3%.

Aug 05 - Rio Tinto apologises for failures in Australian cave blast inquiry 
Rio Tinto apologised to an Australian parliamentary inquiry in its submission on Tuesday for the destruction of ancient sacred caves, admitted to numerous errors, and said it supported reforms to state heritage laws. The world's biggest iron ore miner in late May legally destroyed two historically significant sacred caves in Western Australia state, against the wishes of the Traditional Owners, but that sat atop a high grade ore body it planned to mine.

Aug 04 - India's July gold imports drop 24% y/y as prices surge to record - govt source 
India's gold imports in July fell 24% from a year earlier as a rally in local prices to a record high curtailed retail purchases amid lockdown in many towns to curb the spread of the coronavirus, a government source said on Tuesday. The world's second-biggest consumer of the precious metal imported around 30 tonnes of gold in July, down from 39.66 tonnes a year ago, the source said. The source asked to remain anonymous since he is not authorised to speak to the media.

Aug 04 - With eye on China, India looks to increase barriers on imports from Asia 
New Delhi is considering measures to prevent trade partners mainly in Southeast Asia from re-routing Chinese goods to India with little added value, two government sources said, amid strained ties with Beijing and a push for self-reliance. India is planning to raise quality standards of imports, impose quantity restrictions, mandate stringent disclosure norms and initiate more frequent checks at ports of entry for goods coming from many Asian countries, the officials said, declining to be named as they were not authorised to talk to the media.

Aug 04 - Centamin earnings jump on strong gold prices, higher Egypt mine output 
Gold miner Centamin Plc reported higher first-half pretax profit on Tuesday, buoyed by increased output from its Sukari mine in Egypt and rising bullion prices on coronavirus driven safe-haven demand. Shares of the company were up 1.2% to 209.98 pence at 0703 GMT.

Aug 04 - Nippon Steel to appeal S.Korea ruling allowing seizure of assets 
Japan's Nippon Steel Corp said on Tuesday it will appeal a South Korean court ruling that allows for a seizure of its assets - the latest development in a case that has inflamed tensions between Tokyo and Seoul. South Korea's Supreme Court in 2018 ordered Nippon Steel to pay 100 million won ($83,800) each to four South Koreans as compensation for forced labor during World War II, angering Japan which says the issue of compensation was settled under a 1965 treaty and that the ruling violated international law.

Aug 04 - Saracen Mineral aims up to 400,000 oz gold output from Western Australia mines in 2021 
Gold miner Saracen Mineral Holdings Ltd said on Tuesday it expected to produce between 380,000 ounces and 400,000 ounces of gold next year at its Carosue Dam and Thunderbox mines in Western Australia, propelled by a rise in reserves. Saracen posted a 12% rise in gold reserves at the end of June to a "record" 3.7 million ounces for the mines. The reserve calculation was based on a gold price of A$1,750 ($1,245.65) an ounce.

Aug 04 - China steelmaker HBIS lines up investment in Peru iron ore mine 
HBIS Resources Co Ltd, a unit of China's second-biggest steelmaker HBIS Group, said on Monday it had signed an initial deal to develop the Pampa de Pongo iron ore mine in Peru alongside current licence-holder Zhongrong Xinda. The two Chinese companies plan to set up a joint venture to work on the first stage of the mine, which also contains copper, cobalt and gold reserves, an HBIS Resources filing to the Shenzhen Stock Exchange showed.

Aug 04 - China's Greatpower starts up 2nd cobalt sulphate production line 
China's Greatpower Technology Co late last month launched its second cobalt sulphate production line in the country's eastern Zhejiang province, its chairman Cao Dongqiang said on Monday. The commissioning of the second line raises Greatpower's capacity for cobalt sulphate - a chemical used in batteries for electric vehicles - to around 45,000 tonnes per year from under 30,000 tonnes previously, Cao told Reuters.

Aug 03 - Chilean regulators scrap lithium miner SQM's environmental plan 
Chilean regulators have rejected lithium producer SQM's $25 million environmental compliance plan for the Atacama salt flat, requesting the miner to start again from scratch, a filing showed. Chile's Environmental Superintendent (SMA) approved SQM's compliance plan early in 2019 after a multi-year investigation found the miner had overdrawn lithium-rich brine from the salt flat.

Aug 03 - 102 tonnes of gold changing hands on CME's biggest ever delivery day 
Traders on CME Group's Comex exchange in New York said on Thursday they would deliver 102 tonnes of gold to holders of expiring futures contracts, in the biggest one-day delivery on record. The bumper number underlines a dramatic change on Comex since March, when the coronavirus crisis weakened links between New York, the world's main gold futures trading venue, and London, the biggest centre for storing and trading physical bullion.

Aug 03 - Chile copper production dips in June for first time since coronavirus hit 
Chile´s copper output fell in June for the first time since the coronavirus pandemic landed in the world´s top producer of the red metal, dropping 0.6% to 472,172 tonnes, according to data released on Friday by government statistics agency INE. The South American nation´s manufacturing output, meanwhile, plunged 8.3% in June, the agency said, as the peak of contagions in the South American nation hammered its economy.

Aug 03 - Speculators cut bullish bets on COMEX gold, silver - CFTC 
Hedge funds and money managers reduced their bullish positions in COMEX gold and silver contracts in the week to July 28, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators increased their net long position in copper futures and options, the CFTC data showed.

Aug 03 - Chile's Codelco copper output up in first half 2020 despite coronavirus 
Chile's Codelco, the world's top copper producer, said on Friday it boosted output by 4.7% in the first six months of 2020 even as the coronavirus outbreak forced it to rely on skeleton crews. Pretax profits of $380 million jumped 20% over the year-ago period, the company said. Cash costs plunged 9%, helping boost profits alongside strong output.

Aug 03 - Brief fire kills worker at Russia's Nornickel power plant 
A fire broke out briefly due to a short circuit at Norilsk Nickel's power station in the Arctic on Monday, killing one worker, the company said in a statement. Environmental security at Nornickel's Arctic assets has been in focus since 21,000 tonnes of fuel leaked from a tank at its other power plant near Norilsk on May 29, followed by a series of smaller incidents.

Aug 03 - Abramovich sells 40% in Highland Gold to Russian businessman 
Russian businessman Roman Abramovich and his partners are selling a 40.06% stake in Russian mid-sized gold producer Highland Gold to a Russian businessman, who will make a cash offer to remaining shareholders, they said on Friday. Abramovich, Chelsea soccer club owner, is selling Highland Gold, in which he was a shareholder for many years, at a time when gold price is close its record high as the COVID-19 pandemic drives investors towards the metal as a safe haven.

Aug 03 - China metals trader Jinchuanmaike makes management changes - notice 
Chinese metals trader Jinchuanmaike Metal Resources Co has reshuffled its top management, with chairman Liu Shichao stepping in as acting general manager to replace Luo Shengzhang, according to two company sources and an internal notice. Deputy general manager Wu Jianming will assist Liu and take charge of the base metals, mineral resources and trading divisions, the notice dated July 28 and seen by Reuters showed.

Aug 03 - Australia's Metals X allows bidders due diligence on copper assets 
Australian tin producer Metals X on Friday said it has allowed a number of shortlisted parties interested in buying its copper portfolio to undertake due diligence and submit final bids for the projects. The company, struggling with loan repayments after breaching some debt covenants recently, said it had finally repaid a reworked loan facility with Citibank, allowing it access to a separate A$26 million ($18.7 million) loan.