Base & Precious Metals News

May 14 - Brazil's Vale set to receive first-ever wind-powered ore carrier

Brazilian miner Vale expects to receive in coming weeks its first-ever mineral transport ship propelled in part by sails, the company said on Thursday. The ship, a VLOC, or very-large ore carrier, will also be the largest ever to be outfitted by the rotating sails, Vale said in a statement.

May 14 - Cobalt, Congo and a mass artisanal mining experiment: Andy Home

Cobalt epitomises the minerals conundrum at the heart of the green technology revolution. It's a key ingredient in the chemistry that powers electric vehicles and, along with other battery materials such as lithium, is facing a sustained demand surge as the world decarbonises.

May 13 - U.S. trade chief: 1962 law used for metals tariffs needs modernization

U.S. Trade Representative Katherine Tai said on Wednesday called on Congress to modernize the Cold War-era law that former President Donald Trump used to impose tariffs on imported steel and aluminum, and vowed to address longstanding labor rights problems in Mexico. In testimony before the Senate Finance Committee, Tai said that the authorities under Section 232 of the Trade Act of 1962, were not necessarily well-suited to the need to protect U.S. steelmakers from foreign competition and this has "roiled" the U.S. economy and heightened tensions with trading partners.

May 13 - Chile's Codelco to break ground on $1.4 billion Salvador copper project

Chile's state-owned Codelco, the world's largest copper producer, announced on Wednesday it would soon break ground on a $1.4 billion project to extend the life of its aging Salvador division thru 2068. The Rajo Inca project aims to convert Salvador from an underground mine to an open-pit, and requires the company first strips away rock covering the mineral deposits, Codelco said in a statement.

May 13 - Gold prices are higher in Asian trade, as the commodity recovers from overnight losses in the U.S. session on investor concerns that faster-than-expected inflation could lead to a tightening of the country's monetary policy and higher interest rates. However, Huatai Futures expects gold prices to remain strong in the near term. The brokerage says the U.S. Fed is unlikely to raise rates any time soon, given a resurgence of coronavirus infections in various parts of the world and the central bank's earlier remarks that it will allow for above-target inflation. Spot gold is up 0.2% at $1,818.98/oz.

May 13 - Chinese iron-ore futures are steady in morning trade,
after the steelmaking raw material rose to another record high on Wednesday. Prices are supported by traders who are stocking up for fear that they will be caught short during rising global demand, ANZ says. They don't seem too concerned about risks related to curbs on steel output by Beijing, it says. Potential disruptions to overseas producers brought on by the pandemic may be supportive of prices too, it says, noting a surge in Covid-19 infections in Brazil, the world's second-largest iron-ore producer. The most-traded September iron-ore contract on the Dalian Commodity Exchange is flat at CNY1,315 a ton.

May 12 - Weak cash flow lays bare Thyssenkrupp's long road to recovery

Thyssenkrupp's closely watched cash flow plunged deeper into the red in the second quarter, hit by restructuring costs and investments that overshadowed a guidance upgrade on the back of stronger demand and prices. Shares in the German conglomerate fell as much as 9.6% after the group said that negative free cash flow before mergers and acquisitions (M&S) widened to 750 million euros ($911 million), worse than analysts at Jefferies and JP Morgan had expected.

May 12 -China exchange considers accepting lower-grade iron ore amid price rally

China's Dalian Commodity Exchange (DCE) proposed to lower standard iron content requirements in ore delivered against its flagship futures to 61%, seeking to broaden supply sources to include lower grades amid a record-setting rally of the steelmaking ingredient. Under proposed revisions to the contract's trading rules, which are open to public feedback until Saturday, the Dalian bourse plans to reduce iron content in ore from 62% while also amending quality requirements for silica and aluminum oxide, it said late on Tuesday.

May 11 - Strike threat looms at BHP's Escondida and Spence copper mines in Chile

A union representing workers at BHP Group's Escondida and Spence copper mines in Chile has called for a strike vote among its members after contract negotiations stalled, the union's president told Reuters on Monday. The 205 workers run the company's Integrated Operations Centre which manages pits and cathode and concentrator plants in the north of the country from the Chilean capital Santiago.

May 11 - Shortages, low stocks risk copper spiking to new records

Shortages of copper and dwindling inventories are likely to propel prices of the industrial metal to levels beyond current record highs, unless scrap supplies rise significantly. Benchmark copper on the London Metal Exchange hit $10,747.50 a tonne on Monday, surpassing a record of $10,190 hit in February 2011, for a gain of 37% this year.

May 10 - Chile's copper export revenue jumps in April as price soars

Chile's central bank said on Friday that copper export revenue had jumped 69% in April, a welcome windfall brought on by soaring prices for the red metal. Chile, the world's top copper producer, said it had exported $4.541 billion worth of copper in April alone, a boon for its ailing economy following months of coronavirus-induced economic stagnation.

May 10 - Lithium producers grow bullish as EV revolution turbocharges demand

Rising demand for lithium is stoking prices for the electric vehicle battery metal, fueling long-delayed expansions that still may not produce adequate supplies that automakers need to meet aggressive production plans. Growing industry optimism from higher lithium prices is a change from last year when funding for mines and processing plants dried up during the pandemic.

May 10 - Chinese buyers must face up to higher copper cost reality as LME prices hit record

With copper prices on the London Metal Exchange at record highs above $10,000 per tonne, key Chinese buyers who had been holding off purchases in the hope of a pullback now face the prospect of "higher for longer" copper costs. Prices in London hit an all time $10,253 a tonne on Friday, and are up 32% year to date. Most-active Shanghai June copper futures touched 74,950 yuan ($11,600.91) a tonne, only 1.6% below their all-time high of $76,160 yuan.

May 07 - China iron ore imports dip in April on shipping disruptions

China's iron ore imports fell 3.5% in April from a month earlier, official customs data showed on Friday, as shipments to the world's top iron ore consumer from major suppliers were disrupted by inclement weather. Arrival volumes of the steelmaking ingredient stood at 98.57 million tonnes last month, according to data from the General Administration of Customs. 

May 07 - UK court to reconsider $6.9 bln Brazil dam lawsuit against BHP

London's Court of Appeal will hear a request to revive a 5 billion pound ($6.95 billion) lawsuit against Anglo-Australian mining group BHP over a 2015 dam failure in Brazil, a court order showed. Judge Nicholas Underhill has agreed to an oral hearing that could help to overturn a previous Court of Appeal decision which denied a 200,000-strong Brazilian claimant group permission to appeal against a judgment to strike out the landmark case.

May 06 - Albemarle profit beats expectations on rising lithium demand

Albemarle Corp, the world's largest producer of lithium, posted a quarterly profit on Wednesday that easily beat Wall Street's expectations on rising demand from the electric vehicle industry. The company reported first-quarter net income of $95.7 million, or 84 cents per share, compared with $107.2 million, or $1.01 per share, in the year-ago period.

May 06 - Some commodity producers lagging the rallies in red-hot metals: Russell

The global rally in commodities has seen some like copper and iron ore probe record highs, but when it comes to the companies producing natural resources the gains in their share prices have been largely lagging and uneven. Benchmark London copper futures came within a whisker of their all-time high on Wednesday, reaching $10,040 a tonne, just shy of the record $10,190 hit in February 2011.

May 05 - Chilean mining chief warns royalties bill in current form 'akin to expropriation'

Chile's National Mining Society (Sonami) has warned that a royalty project being discussed in Congress proposes levels of taxation that are "akin to expropriation" and would paralyze investment in the Andean nation. The plan, which proposes a progressive tax of at least 3% on copper and lithium sales, is driven by opposition-party legislators as a way to fund more expansive government social programmes as the country struggles to recover from the coronavirus pandemic.

May 05 - London Metal Exchange trading revenues fall 17% in Q1 2021

London Metal Exchange (LME) trading fees fell 17% to $263 million in the first quarter of this year compared with the same period of 2020, a results update from parent Hong Kong Exchanges and Clearing (HKEx) showed. "LME trading fees dropped by $53 million... due to the 21% decrease in chargeable average daily volume of metals contracts traded in first quarter 2021," said a release posted on HKEx's website last week.

May 04 - Livent results top expectations as lithium demand begins to rebound

Lithium producer Livent Corp posted an adjusted quarterly profit on Monday that exceeded expectations on rising sales of the ultralight battery metal, with governments and automakers across the globe launching aggressive plans to make electric vehicles (EVs) mainstream. In a sign of bullishness on continued rising demand, Philadelphia-based Livent said it would resume expansions in the United States and Argentina that had been paused last year because of the COVID-19 pandemic. 

May 04 - China seeks to cool red-hot steel sector, and aims at Australia: Russell

China has moved to cool its red-hot steel sector by discouraging exports and boosting imports of some feedstock alternatives to buoyant iron ore, steps largely viewed as short-term measures to calm prices. But there are likely some longer-term implications as well, as Beijing looks at ways to reduce the reliance of the world's biggest steel producer on Australian iron ore.

May 03 - Major tin producer MSC won't resume pre-COVID output for 9 months - letter

Malaysia Smelting Corp (MSC), the world's third largest tin producer, has told clients its smelting operation is being severely affected by the COVID-19 pandemic and it will take nine months to resume normal output, a letter seen by Reuters showed. MSC said in the letter, dated April 26, that it had to restrict intake and make changes to contracts - a move that will further exacerbate shortages of tin used in solder for electronic products and chemicals. 

May 03 - LME to announce open outcry ring decision in early June

The London Metal Exchange said on Friday it plans to announce around June 8 whether it will reopen its open outcry trading ring or permanently shut the only such floor in Europe. The 144-year-old exchange added in a statement that even if it decides in June to resume open outcry trading, it would not be able to implement the measure until late July at the earliest due to coronavirus restrictions.

Apr 30 - A grandiose dream to carve out a giant coal mine in frozen eastern Siberia

No one on the train knew what time it would arrive at its destination. For hour after hour it snaked through the snow-covered forests of far eastern Siberia without passing a single settlement. In the corridors between carriages, where some of the 100 or so men and three women on board gathered to shiver and smoke, even the door handles had grown a thick coating of ice.

Apr 30 - China's 2021 gold demand seen reverting to pre-pandemic levels - WGC official

China's 2021 gold demand will see annual growth and will revert to pre-pandemic levels if there are no dramatic changes to the global economic and geo-political situation, a World Gold Council (WGC) official said on Thursday. "For China we had better first quarter growth even compared to 2019 ... If things are stable, we are sure China can stay in such a positive growth," said Wang Lixin, WGC managing director in China, adding that the jewellery and investment segments would drive China's gold demand.

Apr 29 - Global gold demand at 13-year low as China buys but investors sell - WGC

Global demand for gold in the first quarter of 2021 was stuck near its lowest level since 2008 as heavy selling by investors in Europe and North America offset a revival of consumer buying in Asia, the World Gold Council (WGC) said on Thursday. Traditionally seen as a safe asset, investors bought gold in unprecedented quantities last year as the coronavirus swept through the world economy.

Apr 29 - Fortescue quarterly costs jump as wet weather dents iron ore shipments

Fortescue Metals Group Ltd on Thursday reported flat third-quarter iron ore shipments and higher costs, missing analysts' forecasts, as it was hit by wet weather in Western Australia and a stronger Australian dollar. Cyclone season similarly dented output for Fortescue's bigger iron ore mining rivals Rio Tinto and BHP Group, but they have all benefited from soaring prices for the steelmaking ingredient.

Apr 28 - Brazil's Vale, eyeing EV market, mulls base metal spinoff

Brazilian iron ore miner Vale SA is "closely analyzing" a possible spinoff of its base metals division, Chief Executive Eduardo Bartolomeo said on Tuesday, a move that could help the company take advantage of increasing demand from electric car manufacturers. The company previously considered spinning off its base metals division in 2014, but delayed the move in 2015, and later abandoned the idea.

Apr 28 - Analysts cut gold forecasts as economic growth recovers - Poll

Analysts and traders have slashed their gold price forecasts, with many believing a return to last year's record highs is unlikely as economic recovery tarnishes the safe-haven metal's appeal, a Reuters poll showed on Tuesday. Spot gold has fallen to around $1,775 an ounce from an all-time high of $2,072.50 last August, when the COVID-19 pandemic upended economies and forced central banks to pump money into markets and cut interest rates.

Apr 27 - China steelmakers snap up high-grade iron ore on strong profits

Top-grade iron ore with 65% iron content is selling at a record spread over ores with 62% and 58% ferrous content, while the spread between benchmark 62% ore and lower-grade 58% ore has risen to a four-year high.  High-grade 65% iron ore currently costs $66.50 per tonne more than 58% iron ore and $33.50 more than 62% ore, according to data from SteelHome, but is still attractive for mills as their profit margins have risen this year.

Apr 27 - China copper price flip to discount vs LME raises red flag amid rally: Russell

Copper prices have scaled 10-year highs and while the rally may be justified on fundamental supply and demand grounds, there is a note of caution coming out of top consumer China. London Metal Exchange (LME) benchmark three-month copper traded as high as $9,780 a tonne in early Asian trade on Tuesday, the most since August 2011 and a 124% rally since the 2020 low of $4,371 in March last year, at the height of lockdowns to combat the coronavirus pandemic.

Apr 26 - S.Korea's POSCO posts highest quarterly profit in a decade as steel prices jump

South Korean steelmaker POSCO posted on Monday its highest quarterly profit since the second quarter of 2011, as steel prices rose sharply due to demand outpacing supply. The world's fifth-biggest steelmaker said first-quarter operating profit surged 120% as "profit from all sectors, such as steel, global and infrastructure, and new growth, improved", including a 12% sequential jump in its carbon steel sales price. 

Apr 26 - Chile settles dispute with Albemarle over lithium reserves data

Chilean regulators have settled a high stakes dispute over reserves data with top lithium producer Albemarle Corp, according to a letter viewed by Reuters, defusing a spat that may have led to the suspension of the company's permit to expand its operations in Chile. Chile in 2016 gave Albemarle approval to hike production from the lithium-rich Atacama salt flat on condition the miner prove its reserves could sustain the increased output.

Apr 23 - Base metals rebound after taking a knock Thursday from reports that President Biden plans to nearly double capital gains tax for some high earners. Three-month copper on the LME is up 1.1% at $9,490 a metric ton and aluminum rises 1.1% to $2,384.50 a ton. The metals ended moderately lower Thursday after the reports that Biden was set to announce a raft of tax hikes. Traders Friday are parsing a string of PMI readings for France, Germany and the Eurozone which mostly beat economists expectations. Traders are still awaiting flash PMI readings covering the U.K. and the U.S. due out later in the day, as well as a speech by ECB president Christine Lagarde.

Apr 23 - Palladium shoots to new records as deficit-fuelled rally reignites

Palladium prices have surged to record levels and many analysts expect a further run towards $3,000 per ounce as automakers ramp up purchases of the metal used to neutralise harmful exhaust fumes, worsening a supply shortage. A shift to electric vehicles may eventually erode demand, but in recent years tightening environmental rules have forced carmakers to use more and more palladium in their gasoline engines.

Apr 23 - Shanghai aluminium soars as China's production stalls: Andy Home

Shanghai aluminium prices last week hit their highest since 2010 as the Chinese market gears up for a seasonal demand peak. The Shanghai Futures Exchange (ShFE) aluminium contract continues to outperform international prices amid high volumes and open interest with no sign that anyone is being scared off by the increasingly strident official warnings about speculative heat in the country's commodity markets.

Apr 22 - Iron-ore futures in China are broadly higher in early trade, likely supported by weaker-than-expected shipments from major global miners. However, the prices appear to be too high to hold after the recent rally, as iron-ore demand could weaken, Huatai Futures says. The city of Handan has become the latest major Chinese steel-making hub to impose production curbs, which may further hurt demand already threatened by a resurgence in Covid-19 overseas, the brokerage adds. Most iron-ore contracts on the Dalian Commodity Exchange are a tad higher, although the most-traded September contract is down 0.3% at CNY1,092 a metric ton.

Apr 22 - Base metals are broadly lower in early Asian trade after rising overnight on hopes for strong demand driven by improving prospects for the global economy. The three-month LME copper contract is down 0.5% at $9,397 a ton, while the aluminum contract is 0.2% lower at $2,359 a ton. The outlook for copper appears cautiously optimistic, Huatai Futures says. A weak U.S. dollar and restocking demand in China before the Labor Day holiday could provide support for the metal, but current high prices may still put off some buyers, the brokerage says.

Apr 22 - Morgan Stanley reckons there is some reason to be cautious on demand for Chinese steel, which has pulled iron ore prices to a decade high. While China's reported new loans expanded 8% on year in 1Q, they were down 4% in March, MS notes. Cumulative new starts in the property market --measured by floor space-- were up 23% on year in 1Q, but were down 7% from the same period in 2019, says MS. The trend in infrastructure was similar. "Given these signals, we still expect China's underlying steel demand to slow down from current elevated levels as the year progresses," MS says.

Apr 22 - China's five-year plan aims to pare steel capacity and reduce reliance on foreign raw materials such as iron ore. "But they are long-term dynamics" and show little sign of stopping the hot steel and iron-ore markets in China today, Daniel Hynes, senior commodity strategist at ANZ, tells WSJ. "Certainly all the majors (in mining) are selling every ton they can get onto ships at the moment, and Chinese steel mills are happy to snap up any tons they can get," Hynes says. Given strong steel prices and wide margins for mills in China, "I suspect steel producers are making hay while the sun shines," he says.

Apr 22 - Gold edges higher in early Asian trade amid falling Treasury yields that reduce the appeal of U.S. fixed-income assets. The precious metal remains supported by softer U.S. yields, Axi says. Gold hasn't looked back since China recently increased import quotas for banks, which is expected to result in 5 million troy ounces of gold imports over April and May, Axi adds. Spot gold is up 0.1% at $1,796.40/oz.

Apr 22 - AMP Capital now expects an Australian budget deficit of A$125 billion in the year through June, down from a budget projection of A$214 billion in October, thanks in part to a surging price for iron ore, the country's No. 1 export, chief economist Shane Oliver says. Iron ore has soared to its highest since early 2011, when China's rapid growth and industrialization drove it to a record high. Prices back in the $180s-a-ton are "certainly good news for miners and the Australian economy," Oliver tells WSJ. Iron ore's unexpected rally should result in very large trade surpluses for Australia.

Apr 22 - Antofagasta copper output down 5.7% in Q1 as COVID infections surge

Chilean miner Antofagasta said on Wednesday copper production in the first quarter of 2021 was down 5.7% at 183,000 tonnes from the same year-ago period, in light of a surge of COVID-19 infections in the country. "In March, Chile entered a second wave of COVID-19 infections as the number of cases in Chile accelerated, reaching record daily cases since the outbreak of the pandemic," it said in its quarterly production results. 

Apr 22 - Record copper scrap flows this year won't plug deficit

Supplies of copper scrap will jump this year due to decade high prices, but are unlikely to come fast enough to meet robust demand, leaving shortages that are expected to trigger stock draws and further price gains. Copper prices around $9,400 a tonne are close to $9,617 hit in February, the highest since August 2011 and more than double the levels seen in March last year, when manufacturing activity crashed due to COVID lockdowns.

Apr 21 - Cargo ship runs aground as storm strikes near Philippines

A cargo ship carrying 20 crew members, nickel ore, and around 2,000 litres of diesel has run aground off the southern Philippine province of Surigao del Norte, the coastguard said on Tuesday. The cause was not immediately known, but the weather was rough in the area due to Typhoon Surigae, which brought winds that reached 195 km (121.17 miles) per hour, with its effects felt in many parts of the eastern Philippines.

Apr 21 - BHP sees full-year iron ore output near upper end of forecast

BHP Group Ltd said on Wednesday it expects annual iron ore production at the upper end of its forecast, although bad weather and planned maintenance at its operations in Western Australia sent third-quarter output nearly 2% lower. The world's largest listed miner expects overall production of the steelmaking ingredient at the top end of its 245 million tonnes (Mt) to 255 Mt forecast range. 

Apr 21 - China to strengthen raw material price supervision, crack down on speculators

China will take steps to stabilise raw material prices and strengthen supervision of the market after a spike in prices for commodities such as steel, nonferrous metals and petrochemicals, the country's industry ministry said on Tuesday. Rising commodity prices - driven by higher raw material costs, a recovery in downstream demand and speculation from the financial market - have increased Chinese manufacturers' costs and squeezed margins, Ministry of Industry and Information Technology spokesman Huang Libin said at a press conference.

Apr 20 - Iron-ore futures in China rise in early trade, building on recent gains on the back of strong domestic steel production. High steel production numbers released last week are continuing to boost sentiment in the iron-ore futures market, ANZ says, noting China's steel output rose by 19.1% in March from a year earlier. Steel exports from China jumped more than 16% in March due to rising demand from other major regions, the bank adds. The most-traded September iron-ore contract on the Dalian Commodity Exchange is up 1.1% at CNY1,074 a ton.

Apr 20 - Base metals are higher in early Asian trade as investors expect a continued global economic recovery to drive demand for metal. Recent robust economic data in China and the U.S. has boosted optimism of further demand recovery, ANZ says. The market has also been buoyed by the infrastructure spending program U.S. President Biden is looking to implement, it adds. The three-month LME copper contract is up 0.2% at $9,390 a ton and the aluminum contract is up 0.2% at $2,335 a ton.

Apr 20 - Macquarie reckons Rio Tinto's iron-ore operations had a solid start to the year in the face of weather-related disruptions, with both production and shipments within 2% of its expectations. Performance of other divisions was mixed, with copper, bauxite, aluminum, titanium dioxide and borate output disappointing and alumina, diamonds and uranium production better-than-expected, it says. Still, the miner's earnings outlook remains positive thanks to elevated iron-ore prices, which are at their highest in nearly a decade. "Buoyant iron-ore prices continue to underpin strong earnings upgrade momentum with the stock trading on 2021 and 2022 free cash flow yields of more than 20% at spot prices."

Apr 20 - Alliance Steel Inc., an Oklahoma-based manufacturer of prefabricated steel structures, agreed Monday to pay $435,000 to settle apparent violations of US sanctions on Iran. The violations stemmed from outsourcing that Alliance did to an Iranian engineering company owned by the brother of Alliance's chief engineer, the US Treasury Department's Office of Foreign Assets Control said. While Alliance did the majority of its engineering work internally, when demand exceeded its internal resources it relied over a five year period on the Iranian engineering company for help, OFAC says. The Treasury says the apparent violations were non-egregious and that Alliance voluntarily disclosed the matter.

Apr 20 - Rio Tinto's iron ore output falls 2% on labour shortage, weather issues

Global miner Rio Tinto Ltd reported lower quarterly iron ore output on Tuesday as wet weather and labour shortages impacted its mine and port operations in Western Australia. Above average wet weather in the mines and workforce availability disrupted maintenance during the quarter, Rio said, while Tropical Cyclone Seroja impacted operations in April.

Apr 20 - Arizona mining fight pits economy, EVs against conservation, culture

Early last year, Darrin Lewis paid $800,000 for a hardware store in a tiny Arizona town where mining giant Rio Tinto Plc hopes to build one of the world's largest underground copper mines. Rio buys materials from Lewis's Superior Hardware & Lumber for its Resolution mine site, accounting for a third of the store's sales and helping to keep it afloat during the coronavirus pandemic.

Apr 19 - Australia's Orocobre buying Galaxy for $1.4 bln to create world No.5 lithium miner

Australian lithium miner Orocobre Ltd is buying smaller domestic peer Galaxy Resources for $1.4 billion to create the world's fifth most valuable producer of the key raw material for electric vehicle batteries. The all-stock deal for A$1.78 billion ($1.38 billion)announced on Monday, which will also establish Australia's most valuable lithium miner with a A$4 billion market capitalisation, comes as demand for the material is booming amid a jump in global sales of electric vehicles. 

Apr 19 - China opens its borders to billions of dollars of gold imports – sources

China has given domestic and international banks permission to import large amounts of gold into the country, five sources familiar with the matter said, potentially helping to support global gold prices after months of declines. China is the world's biggest gold consumer, gobbling up hundreds of tonnes of the precious metal worth tens of billions of dollars each year, but its imports plunged as the coronavirus spread and local demand dried up.

Apr 16 - China March aluminium output hits monthly record as new capacity comes on stream

China's March aluminium output rose from a year earlier to a monthly record, official data showed on Friday, despite curbs on energy use in the smelting hub of Inner Mongolia, as new capacity came on stream. Primary aluminium output in China, the world's top aluminium producer, was up 8.5% year-on-year at 3.28 million tonnes last month, the National Bureau of Statistics said, beating the previous monthly high of 3.27 million tonnes reached in December 2020. 

Apr 16 - Time running out to resolve U.S. metal tariffs dispute, EU official says

The European Union is concerned that time is running out for the United States to remove tariffs imposed by former President Donald Trump on steel and aluminium, a senior EU trade official said on Thursday. Citing U.S. national security grounds the Trump administration in 2018 imposed tariffs of 25% on EU steel and 10% on aluminium - measures that steelmakers such as Thyssenkrupp and Voestalpine have said they were affected by.

Apr 15 - Serbia halts China-owned mine over environmental breaches

Serbia has ordered China's Zijin Mining Group to halt work at a shaft at the country's only copper mine and to complete a waste water treatment plant after it failed to comply with environmental standards, the mining and energy minister said on Wednesday.  Zijin became Serbia's strategic partner in the RTB Bor copper complex which includes the Jama mine, pledging to invest $1.26 billion in return for a 63% stake.

Apr 15 - Crime networks suspected of burning tech waste for scrap metal in Romania

In the villages surrounding Romanian capital Bucharest, the fires burning discarded electronic kit and car parts for scrap metal never stop. A month of near daily raids has uncovered what appear to be organised crime networks recruiting long-ignored poor villagers to burn the waste, Romania's environment enforcement chief said.

Apr 15 - Iron-ore futures in China are higher in early Asian trade. While there has been talk of the government expanding steel production curbs to more parts of the country, iron-ore prices will continue to be supported by strong consumption until the authorities roll out more output restrictions, Huatai Futures says. The most-traded September iron-ore contract on the Dalian Commodity Exchange is up 2.5% at CNY1,038 a ton.

Apr 15 - Base metals are broadly lower after rising overnight on strong China demand. The three-month LME copper contract is 0.2% lower at $9,055 a ton while the nickel contract is down 1.5% at $16,125 a ton. Demand for copper is likely to pick up as peak consumption season approaches, Huatai Futures says, adding investors could buy dips given the improving outlook. The brokerage maintains its long-term upbeat view on the metal, citing a potential demand boost from China's push for copper-intensive new-energy industries.

Apr 15 - Gold gains in Asian trade. A pullback in the U.S. dollar remains a key supporting factor, Axi says. Gold is maintaining an upward momentum as concerns about the Fed dialing back accommodative policies are overblown, pointing to a regime of low interest rates for a longer period, which would benefit the precious metal, says AmBank Group Chief Economist Anthony Dass. Spot gold is 0.2% higher at $1,739.25 an ounce.

Apr 15 - Gold is trading steadily in the early morning Asian session, but could decline amid a slight rise in the 10-year Treasury yield. The precious metal continues to struggle to hold onto upward momentum, with prices facing pressure from higher bond yields, following comments from Fed Chair Powell that the U.S. economy seems poised for stronger growth, ANZ says. Also, investor demand for gold could be waning alongside the continued rally in crypto currencies, ANZ says. Gold is flat at $1,735.70/oz. The 10-year Treasury yield is up 1 basis point at 1.6405%.

Apr 15 - There's a risk BHP might not meet its metallurgical coal output guidance, UBS reckons. BHP has projected its share of met coal from the mines it runs will be roughly flat in FY 2021 versus FY 2020. "However, given exports through Hay Point in FY 2021 year to date, there appears to be downside risk," says UBS. Hay Point is used solely by BHP and accounts for roughly 65% of BHP's total Queensland coal exports. If April-June shipments are in line with year-ago levels, FY 2021 shipments through Hay Point will be roughly 47 million tons, down 6% on the year
prior, estimates UBS.

Apr 15 - AUD/USD is trading higher near 0.7725 and is back at its highest level since March 23. A weaker USD and high commodity prices are offering solid support, says CBA. A further boost may come from employment data for March at 0130 GMT, the bank adds. Economists are looking for 35,000 more jobs in the month, with the unemployment rate coming in at 5.7%, down from 5.8% in February. CBA says the consensus has generally underestimated the rebound in the Australia's job market since June.

Apr 14 - Nornickel to boost output of nickel products in Finland for EV battery market
Russian metals producer Nornickel said on Tuesday it will boost output of nickel products at its Harjavalta plant in Finland as it bets on the expanding market for battery materials needed for electric vehicles (EV). Finland's state mining investment firm Finnish Minerals Group, German chemicals giant BASF and Finnish utility Fortum are among companies currently forming an EV battery cluster in Finland. 

Apr 14 - Copper smelter terms at rock bottom as mine squeeze hits: Andy Home
Copper's turbo-charged rally has stalled over the last few weeks as funds have taken profits and physical buyers have refused to chase prices higher.  London Metal Exchange (LME) three-month copper hit a near 10-year high of $9,617 per tonne in late February but is now idling just below the $9,000 level, last trading at $8,910. 

Apr 13 - 'Deeds, not words': mining firms reshape boardrooms as investors demand sustainability

Under fire after a string of high-profile disasters, mining firms are shaking up their boardrooms in response to criticism that they are failing to meet their own environmental, social, and governance standards. Shareholders are demanding change from an industry whose reputation has been battered by deadly collapses of mine waste storage facilities in Brazil, and Rio Tinto's destruction of sacred rock shelters in Australia. 

Apr 13 - China March copper imports rise 25% from year ago on firm demand

China's March copper imports rose 25% from a year earlier, customs data showed on Tuesday, amid increasing demand for the metal and as arrivals climbed after logistics issued were resolved. Arrivals of unwrought copper and products totalled 552,317 tonnes last month, the General Administration of Customs said.

Apr 12 - Chile´s Antofagasta says surging copper price not enough to entice big investments

Miners will think twice before splashing out on major new projects even as copper prices have soared to decade-long highs this year, the CEO of Chile´s Antofagasta told Reuters. Prices have surged in recent weeks amid expectations of a global economic recovery, sparking talk of a new investment cycle in the sprawling worldwide copper industry.

Apr 12 - Reality check for copper bulls as Chinese demand growth slows

Copper long speculators are at risk of a price pull-back due to a delayed pick up in Chinese demand in its traditionally strong industrial consumption season in the second quarter.  Bullish investors, who poured money into copper eyeing a commodity super-cycle, have already reduced exposure amid fears of Chinese monetary tightening, a firm dollar and fresh coronavirus lockdowns in Europe.

Apr 09 - Chile lithium watchdog to cut red tape seen crimping sector

Chile's top lithium regulator is preparing to slash the red tape that investors have long said stymies output and new projects in the world's No. 2 producer of the ultralight battery metal, the head of the watchdog told Reuters. Jaime Salas, director of Chilean nuclear agency CCHEN, said in an interview in his Santiago office that the agency would shortly roll out revamped guidelines that make clear and transparent to newcomers how it determines lithium quotas, and also spell out how those rules will be enforced. 

Apr 09 - U.S. interior secretary looks to restore Utah monuments slashed by Trump

The president of the Navajo Nation on Thursday urged U.S. Interior Secretary Deb Haaland to protect 1.9 million acres of land as the Bears Ears National Monument during her visit to Utah, expanding the site that was slashed in size by former President Donald Trump to open it to mining, grazing and drilling. Jonathan Nez, president of the largest Native American tribe, met with Haaland in Bluff, the gateway to the Utah monument, during her two-day visit to the southwestern state, where she is meeting with tribes and political officials to discuss the potential restoration - or expansion - of Bears Ears and Grand Staircase-Escalante, two national monuments that were drastically downsized by Trump.

Apr 08 - Codelco chief bullish on copper price, fears fresh pandemic volatility

Copper prices are likely to remain strong, but the spread of COVID-19 variants could spark fresh volatility in the market, the chairman of Chilean state miner Codelco, the world's largest copper producer, told Reuters. The price of copper has hit near decade highs this year and climbed earlier this week after Chile tightened its lockdown over a spike in COVID-19 infections, with several new variants circulating. Some analysts linked the price rise to concerns over supply. 

Apr 08 - Flush from soaring platinum prices, Sibanye-Stillwater hunts for gold

Precious metals miner Sibanye-Stillwater is at the centre of deal talks in the gold sector but it may see its desire to create a South African gold champion thwarted as peers cut exposure to the country. Sibanye CEO Neal Froneman, 61, last month floated the idea of a merger with Johannesburg-listed AngloGold Ashanti and Gold Fields, arguing consolidation is needed for the country's gold miners to compete globally.

Apr 07 - Polls close in Greenland election closely watched by global mining industry

Voting stations closed in Greenland on Tuesday evening in a snap election that could unseat the ruling party and help decide the fate of vast deposits of rare earth metals that international companies want to exploit. The Arctic island of 56,000 people, which former U.S. President Donald Trump offered to buy in 2019 only to be told it was not for sale, is part of the Kingdom of Denmark but has broad autonomy.

Apr 07 - Perth Mint's March gold sales surge to highest since 2012

Perth Mint's gold sales climbed to their highest since at least 2012 in March as a fall in prices of the metal lifted demand for minted products, the refiner said in a blog post on Tuesday. Sales of gold coins and minted bars jumped to more than 130,000 ounces in March, up 4.8% month-on-month and 39% from a year earlier.

Apr 07 - The Aluminum Association, a US-based industry group, is calling for the Biden Administration to make adjustments to the Section 232 tariffs on aluminum imports. "The current Section 232 product exclusion process has inadvertently made the US a magnet for imports," the group says. "The current Section 232 exclusion process actively incentivizes companies to turn first to import aluminum products." According to the Aluminum Association, the Commerce Department allowed large amounts of exclusions for foreign imports of aluminum goods to satisfy manufacturer demands. Section 232 tariffs on steel and aluminum imports into the US were enacted by the Trump Administration in 2017.

Apr 06 - S.Korea steel giant POSCO weighs how to exit Myanmar military-backed venture - sources

Giant South Korea steelmaker POSCO has begun reviewing how it might end a joint venture with a firm controlled by the military in Myanmar in the wake of the coup there in February, two people with first-hand knowledge of the matter told Reuters. As Myanmar's army rulers continue a deadly crackdown on protest, with hundreds killed, the people said the Korean parent's POSCO C&C arm is looking into either selling its 70% stake in the venture with Myanmar Economic Holdings Ltd (MEHL), or buying out its partner's stake. 

Apr 06 - Barrick Gold nears agreement to reopen Papua New Guinea mine

Miner Barrick Gold said on Monday Papua New Guinea (PNG) Prime Minister James Marape announced an imminent agreement to reopen the disputed Porgera gold mine a year after it was shut. The world's second-largest gold producer lost a key court challenge last year over rights to the mine which accounted for about 5% of Barrick's production in 2019.

Apr 05 - India's March gold imports surge 471% to a record 160 T –govt source

India's gold imports in March surged 471% from a year earlier to a record 160 tonnes, a government source told Reuters on Thursday, as a reduction in import taxes and a correction in prices from record highs drew retail buyers and jewellers. Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices, which have corrected nearly 17% from an all-time high of $2,072 in August 2020.

Apr 05 - Global copper smelting slides in March on Chinese shortages

Global copper smelting slipped to the lowest levels in at least five years in March as top producer China failed to recover following the Lunar New Year holiday due to supply shortages, data from satellite surveillance of copper plants showed. Weakness was seen across the board as other regions, which had been hit by pandemic-linked lockdowns, failed to make up for decline in China, satellite service SAVANT and broker Marex Spectron said in a joint statement on Thursday.

Apr 05 - Freeport-McMoRan's Freeport-McMoRan Bagdad Inc., received an imminent danger order related to a motor junction box at an overflow pump at its Bagdad mine in Arizona that had broken away from the motor and was hanging by the electrical conductors, the company said in a securities filing. The overflow pump "could be inadvertently energized," according to the filing, exposing people to volts of stray current. Freeport-McMoRan says the equipment was repaired and approved for full operation by the Mine Safety and Health Administration within 24 hours, terminating the order as of April 1.

Apr 01 - Congo launches state artisanal cobalt buyer to meet booming demand

Congo's state cobalt buyer announced a responsible sourcing standard for artisanal cobalt on Wednesday as it launched its ambitious move to bring all informal cobalt mining in the country under state control. Artisanal cobalt miners extract the battery metal using rudimentary means, often on unregulated sites and sometimes within industrial mine sites. Unsafe working practices and child labour have been widely reported on such sites.

Apr 01 - Google, BMW, AB Volvo, Samsung back environmental call for pause on deep-sea mining

Google, BMW, AB Volvo Group and Samsung SDI are the first global companies to sign up to a World Wildlife Fund call for a moratorium on deep-sea mining, likely shrinking the potential market for deep-sea minerals harvested for our cars and smartphones. The move away from fossil fuels to electrify the global economy is creating ever-increasing demand for the materials that go into batteries, some of which are found on the seabed whose ecosystems have yet to be fully explored.

Mar 31 - Google, BMW, Volvo, and Samsung SDI sign up to WWF call for temporary ban on deep-sea mining 

Google, BMW, Volvo and Samsung SDI are the first global companies to have signed up to a World Wildlife Fund (WWF) call for a moratorium on deep-sea mining, the WWF said on Wednesday. In backing the call, the companies commit not to source any minerals from the seabed, to exclude such minerals from their supply chains, and not to finance deep seabed mining activities, the WWF said in a statement.

Mar 31 - Higher Chinese imports herald coming copper scrap surge: Andy Home
China's imports of copper scrap surged over the first two months of 2021, jumping by 60% year-on-year to 191,720 tonnes. A new import regime reclassifying scrap as a "resource" came into effect last November, removing high-grade copper recyclables from the list of "solid wastes" that are now banned.

Mar 31 - Japan buyers agree to pay Q2 aluminium premiums of $148-149/T - sources 
The premiums for aluminium shipments to Japanese buyers for April to June were set at $148-$149 a tonne, up 14-15% from this quarter, on a tight container market and recovery in demand from a pandemic-induced slump, four sources directly involved in pricing talks said. The April-June premiums are the highest since the same quarter in 2015. In January to March, the premium was $130 per tonne. This is a third consecutive quarterly rise in premiums.

Mar 31 - EU imposes tariffs on Chinese aluminium producers
The European Union has imposed duties on aluminium products imported from China after an investigation showed that they were being sold at unfairly low prices, the EU official journal said on Tuesday. The European Commission, which oversees trade policy for the 27-nation European Union, has set anti-dumping duties of between 21.2% and 31.2% on Chinese producers of aluminium extrusions in the form of bars, rods, profiles or tubes.

Mar 31 - China's Ganfeng sees lithium rally extending as profits almost triple
Ganfeng Lithium, one of the world's top producers of the commodity used in electric vehicle batteries, said on Tuesday slower growth in lithium supply would extend a recent rally in prices after its profits nearly tripled in 2020. The Chinese company, which counts automakers Tesla and BMW among its customers, said in a filing to the Hong Kong stock exchange its net income was 1.025 billion yuan ($156 million) last year.

Mar 31 - Turquoise Hill's Oyu Tolgoi declares force majeure on some Chinese contracts
Canada's Turquoise Hill Resources Ltd said on Tuesday its Oyu Tolgoi mining unit in Mongolia declared force majeure on some Chinese contracts, after shipments to China were suspended due to COVID-19 related restrictions. The force majeure compounds problems at one of the world's largest copper-gold-silver mine Oyu Tolgoi, which is already at the center of a protracted dispute between Turquoise and its top shareholder, Rio Tinto, over funding for the underground expansion of the mine.

Mar 31 - Eramet board backs CEO for new term after shareholder tussle
Eramet SA's board on Tuesday backed a new term for Chief Executive Christel Bories during which her combined CEO and chairwoman role would be split, the French mining group said, in a compromise after tensions between its top shareholders. Eramet's board unanimously agreed to propose to the shareholder meeting in May that Bories be renewed for a second four-year term, it said in a statement.

Mar 31 - A raise or a four-day week; biggest German union seals new deal
Germany's largest trade union, IG Metall, agreed a 2.3% wage increase, to be paid either in full or as part of a switch to a four-day week, in a key industrial region, setting the benchmark for 3.9 million metal and engineering workers nationwide. Salaries will increase from July, but the additional money will not be paid out until February next year, as 18.4% of a single monthly salary, according to IG Metall.

Mar 31 - Papua New Guinea's Ok Tedi copper mine resumes operations after COVID-19 shutdown
Papua New Guinea's Ok Tedi Mining Ltd's copper mining operations will resume from Thursday, the company said on Wednesday, after they were suspended for two weeks due to a surge in COVID-19 cases at the mine site. Most of the cases detected were asymptomatic and have recovered or have been medically cleared, the company said.

Mar 31 - China aluminium prices to remain elevated amid Inner Mongolia curbs - Chalco
Aluminium prices in China, the world's biggest producer and consumer of the metal, will remain high in 2021, the president of state-run Chalco said on Tuesday, as a crackdown on energy use in Inner Mongolia leaves a question mark over supply. Aluminium on the Shanghai Futures Exchange touched a 9-1/2 year peak of almost 18,000 yuan ($2,740) a tonne earlier this month after the Inner Mongolia city of Baotou ordered some industrial production and power plants to shut.

Mar 31 - Chinese consortium signs MOU on Algeria iron project
A Chinese consortium on Tuesday signed a memorandum of understanding with an Algerian state company to exploit an iron deposit in the North African country, Algerian state media reported. The project will be carried out at Gara Djebilet iron mine, in the southern province of Tindouf, state radio said, citing Energy Minister Mohamed Arkab.

Mar 30 - Ready to roll: China flat steelmakers set to cash in on manufacturing boom
China's top flat steel producers are primed for profit from a post-COVID-19 recovery in global manufacturing and goods demand in 2021, as well as from an emissions-cutting drive that will likely knock out high-cost competitors, sector analysts said. Prices for hot rolled coil (HRC) - flat steel rolled at high temperatures for use in cars, home appliances and machinery - has climbed 50% in the past six months as China's manufacturers cranked to life after coronavirus lockdowns were lifted in mid-2020. 

Mar 30 - Indonesia says Fortescue, China's Tsingshan in talks for Borneo investment
Indonesia is in talks with China's Tsingshan Group and Australia's Fortescue Metals Group to build a new industrial estate for metal smelting near a planned hydropower plant on Borneo island, a minister said on Tuesday. The new estate will be located near the 11,000 megawatt Kayan hydropower project in North Kalimantan province, according to Luhut Pandjaitan, Indonesia's coordinating minister for maritime affairs and investment, who also oversees mining regulations.

Mar 30 - Gupta's Liberty Steel to restart operations, in talks with UK government
Tycoon Sanjeev Gupta's Liberty Steel UK plans to restart steelmaking next week and continues to seek new funding after its main financial backer Greensill Capital went into insolvency, it said on Monday. Gupta's conglomerate GFG Alliance said earlier this month it was in talks with administrators of Greensill over a standstill agreement. On Monday GFG said those negotiations were ongoing and also said that Liberty Steel was still seeking support from the UK government.

Mar 30 - Jiangxi Copper posts drop in annual profit, eyes higher 2021 output

China's Jiangxi Copper Co on Monday said it aimed to produce around 5% more copper this year after $130 million in asset and inventory writedowns saw its annual profits fall despite higher revenues. The company, one of China's biggest copper producers, said in a filing that net income slipped 5.9% year-on-year to 2.32 billion yuan ($353.6 million) in 2020.

Mar 30 - Mexico says some miners returning permits to avoid taxes
Some mining companies in Mexico are giving back operating permits issued under previous administrations because they want to avoid paying taxes, President Andres Manuel Lopez Obrador said on Monday. Previous administrations distributed mining permits "like confetti," as well as licenses for fuel imports, due to "speculation," he told reporters at a regular news conference. 

Mar 30 - Russia's Nornickel halts water inflow at two major mines

Russian metals producer Nornickel said on Monday it had stopped water flowing into its two major mines in the Siberian Arctic and both were on track to fully resume production in coming months. Nornickel, the world's largest palladium producer and a leading nickel producer, partly suspended operations at the two mines on Feb. 24 after detecting subterranean water flowing into one of them. This reduced its 2021 output forecast by 15%-20%. 

Mar 30 - Russian gold producer GV Gold postpones IPO
Russian mid-sized gold producer GV Gold has decided to postpone an initial public offering (IPO) of its shares in Moscow, it said on Monday, confirming an earlier source-based report by Reuters. Its shareholders, including U.S. fund BlackRock, planned to raise $450-560 million by selling about 37% of the miner through the IPO. The final offering price was expected on or around March 30.

Mar 30 - Nornickel board calls on shareholders to discuss proposed change to dividend policy 

The board of Russia's Norilsk Nickel called on shareholders to discuss a proposed change to its dividend policy as the palladium and nickel producer looks to invest more in production and environmental protection after a major fuel spill in the Arctic. Nornickel, the world's largest producer of palladium and a leading producer of nickel, has been fined $2 billion for the damage caused by the spill last year in the country's worst environmental disaster in the Arctic.

Mar 29 - Australian Aboriginal group opposes billionaire miner's plan to build dams 
The Australian Aboriginal group whose sacred rock shelters Rio Tinto destroyed last year rejected a plan by mining company Fortescue's founder Andrew Forrest to build dams along a river in the same region, citing the cultural damage it would cause. Australia is considering new legislation to protect Aboriginal heritage after Rio, in the process of building an iron ore mine, destroyed the 46,000-year-old sites in Western Australia state that had been among the oldest evidence of global human habitation.

Mar 29 - Australia sees record $104 bln of iron ore exports this financial year 

Australia expects to log a record A$136 billion ($103.85 billion) from iron ore exports this financial year, as global steel-making recovers after a COVID-19 led downturn, a government report showed on Monday. The country's most valuable economic export is expected to earn more than A$100 billion per year for the next half decade as miners like BHP Group, Rio Tinto and Fortescue dig out more iron ore from Western Australia's Pilbara region.

Mar 29 - Humble aluminium can shows a circular economy won't be easy: Andy Home
When Coors introduced the first all-aluminium beverage can in 1959, it offered one cent on every can returned. The U.S. brewer knew it could recycle the used cans to make new cans at a fraction of the cost of virgin metal.

Mar 29 - Envy Global removes managing director charged in nickel fraud

Singapore commodity trader Envy Global Trading Pte Ltd has removed Ng Yu Zhi from his role as managing director following investigations by authorities into the firm's nickel trading, the company said in a statement. Prosecutors in Singapore last week charged Ng, who the managing director at Envy Global Trading Pte Ltd and Envy Asset Management Pte Ltd, with cheating and fraud in connection with a nickel trading scheme that raised at least S$1 billion ($746 million) from investors.

Mar 29 - London trader Stratton to sell First Cobalt's refinery output in 5-yr deal
London-based metals trader Stratton Metal Resources Ltd will sell cobalt sulphate produced by First Cobalt Corp's Canadian refinery under a five-year deal, a source with direct knowledge of the arrangement said on Sunday.  Contract terms including price and quantity were not immediately known. 

Mar 29 - China rare earths extend surge on worries over Myanmar supply, inspection threat
Looming inspections and concerns over Myanmar supplies are adding fresh momentum to a rally in prices of the rare earth minerals used in industries from turbines to telecoms that are already at their highest in nearly a decade.  A price index published by China's rare earths association shot up more than 40% from October last year to the end of January, and has climbed an additional 25% since, fuelled by the risks to supply.

Mar 29 - German steelworkers reach pay deal with union
Germany's largest trade union, IG Metall, agreed a wage deal on Saturday for the roughly 70,000 workers in the iron and steel industry in north-west Germany. Under the agreement, which runs for 15 months and was struck after seven hours of talks, workers will receive lump-sum payments of 250 euros ($295) each on December 28 this year and February 28, 2022, according to IG Metall.

Mar 29 - Russia's Rusal open for talks over Nornickel dividend - deputy CEO 
Russia's Rusal is open to talks with a fellow key shareholder in Nornickel about the miner potentially cutting its dividend, but remains to be convinced the current policy should change, its deputy chief executive said. The board of directors at Nornickel, in which Rusal holds a 27.8% stake, will discuss its 2030 investment strategy and dividend guidelines on March 29. The discussion was initiated by Interros, Nornickel's largest shareholder with a 34% stake.

Mar 29 - ArcelorMittal looking for partners, subsidies for cleaner steelmaking in Germany 
ArcelorMittal is looking for partners and public funding to curb carbon emissions from steelmaking in its German operations where alternative technology plans are far advanced, the European head of the world's biggest steel producer said. Europe's steelmakers are under pressure to cut carbon emissions while maintaining profitability in a market where there is fierce competition, mainly from China, while pollution permit costs are spiralling higher. 

Mar 29 - Sumitomo says Ambatovy nickel project in Madagascar resumed March 23
Japanese trading company Sumitomo Corp said on Monday its Ambatovy nickel project in Madagascar resumed operation on March 23 after it had been shut since March last year due to the COVID-19 pandemic. Sumitomo, which owns a 54.17% stake in Ambatovy, said in January that it would book an additional impairment loss of about 30 billion yen ($274 million) on the project in the October-December quarter to reflect the revised output plan, on top of a similar loss of 55 billion yen posted in the April-June quarter last year.

Mar 29 - Canada's First Cobalt to issue shares to Glencore to repay $5.5 mln debt

Canada's First Cobalt Corp entered into a deal with Glencore Plc's unit under which it will repay an existing loan of about $5.5 million by issuing shares, the cobalt miner said on Friday. First Cobalt will issue 23.8 million common shares to Glencore AG at $0.29 per share, representing about 4.8% of the company's current outstanding shares. 

Mar 29 - Colombia coal production fell 40% last year amid coronavirus, strike 
Colombia's production of coal fell 40% last year, the government said on Friday, after a national coronavirus lockdown which affected output and a 91-day strike at a major mine. The South American country, the world's fifth-largest exporter of the fuel, produced 49.5 million tonnes of coal in 2020, down from 82.4 million tonnes the year before, the national mining agency said in a statement.

Mar 29 - Russia's Nornickel to spin off its copper and gold mine near China 
Russian metals producer Nornickel said on Friday it would spin off its stake in the Bystrinsky copper and gold mine and distribute it among its own shareholders. Nornickel owns a 50% stake in the mine, which is about 90 km (55 miles) from the Chinese border in the Siberian region of Chita. Another 36.7% of the mine belongs to Nornickel's largest shareholder and chief executive Vladimir Potanin. Chinese Highland Fund owns the remaining 13.3% stake.

Mar 29 - UK ministers reject Sanjeev Gupta's bailout plea - FT 
British ministers have rejected a request from mining magnate Sanjeev Gupta for a 170 million pound emergency loan to prevent his group, GFG Alliance, from collapsing, the Financial Times reported on Sunday. The FT said Gupta was working on plans to raise new loans against parts of the group outside the UK, adding that he also aimed to generate cash from an expedited sale of goods.

Mar 26 - Dividend over digging: Miners pay shareholders but need new projects
Major miners need to increase spending to secure fresh copper supply, analysts say, amid worries that availability of the red metal, crucial for the shift to a low carbon world, will slide just as demand surges. Copper -- which hit 9-1/2 year highs last month at $9,617 a tonne -- is an efficient conductor and is set to benefit from the rising use of electric vehicles (EVs) and wind and solar power generation.

Mar 26 - Rio Tinto faces class action suit over Mongolia copper project
The largest minority shareholder in Rio Tinto's, Mongolian copper project Oyu Tolgoi has filed a class action lawsuit in New York, claiming the company concealed massive cost overruns and delays. Rio Tinto said on Thursday that the lawsuit is without merit. 

Mar 26 - China copper smelters decide to not set treatment charge floor in Q2
- sources 
China's biggest copper smelters have decided to not set a floor price for second-quarter treatment and refining charges (TC/RCs) for the second straight year, said three sources with knowledge of the matter. TC/RCs are an important source of revenue for smelters and are paid by miners when they sell concentrate, or semi-processed ore, to be refined into metal. The charges typically go down when the concentrate market tightens and smelters have to accept lower terms to secure feedstock.

Mar 26 - Gold hub UAE toughens fight against financial crime
The United Arab Emirates, one of the world's largest gold hubs, is strengthening its defences against financial crime, including new restrictions on the movement of cash and precious metals, the Gulf state said on Thursday. The steps follow a 2018 tightening of financial regulations that sought to dispel a view among some foreign investors that the country is an illicit money hot spot. 

Mar 26 - Canada tightens takeover rules for critical minerals
Canada has tightened foreign investment rules to protect the security of critical mineral supply chains, a government spokesperson said on Thursday, ahead of an expected surge in demand for metals used to make electric vehicles. The move comes as the U.S. government works with Canada to boost regional supply chains to counter China's dominance in the sector. 

Mar 26 - Colombia opens five mining areas to potential bids
Colombia on Thursday opened five mining areas with potential for developing copper and other polymetallic projects to bidding from potential investors, as part of plan to push exploration for mineral resources.  Interested companies have had since Feb. 25 to study datasets of the five areas - which are located in the northeast of the country - as collated by the Colombian Geological Service, which contain information including their mineral potential.

Mar 26 - Brazil civic groups urge production halt at Vale mine amid COVID-19 concerns
Two civic organizations have asked iron ore miner Vale SA to cease mining operations at its major Serra Norte complex in northern Brazil, according to documents seen by Reuters this week, as a major COVID-19 spike tests the capacity of the region's hospitals. The requests came from the lawyers' guild for the town of Parauapebas and the regional doctors' association, according to the documents.

Mar 26 - Sundance refers iron ore dispute with Congo Republic to arbitration
Australia's Sundance Resources said on Thursday it had referred its dispute with Congo Republic over the Nabeba iron ore project to arbitration in London, where it is seeking $8.76 billion in damages.  Congo's government revoked Sundance affiliate Congo Iron's permit in December and awarded it to a little known company backed by Chinese investment.  

Mar 26 - Poland's KGHM has no plans to change its stake in Sierra Gorda mine
Polish copper and silver producer KGHM has no plans to change its 55% stake in its Chilean Sierra Gorda mine, the company's deputy head Pawel Gruza said on Thursday.  "Sierra Gorda is one of KGHM's strategic assets. In this moment we do not expect changes of our capital involvement in this investment," Gruza told a press conference following the company's fourth quarter results.

Mar 26 - Miner KAZ gets final bid of 4 bln pounds from Nova Resources 
Copper miner Kaz Minerals Plc has received a final bid worth 4.02 billion pounds ($5.53 billion) from Chairman-led Nova Resources after minority shareholders rejected two proposals for being too low. Under the new offer, KAZ shareholders will receive 850 pence in cash, up from an earlier offer of 780 pence, the companies said. Shareholders will also get a special dividend.

Mar 25 - Norway's Nussir considers share listing after Arctic copper mine agreement
Nussir ASA is considering listing its shares in Oslo this year after signing a deal with local officials that allows it to build the world's first fully electric copper mine in the Arctic, its chief executive told Reuters. The project, located in Norway's northern Kvalsund area, has faced opposition from indigenous Sami herders and fishermen who say the mine could damage summer reindeer pastures and destroy spawning grounds for coastal cod.

Mar 25 - China to curb lead battery use in low-speed EVs from Sept
China plans to restrict its use of lead batteries in low-speed electric vehicles (EVs) from September this year in favour of lithium alternatives, according to a revised list of technical requirements for the sector. Low-speed EVs have not previously been regarded as vehicles that qualify for proper licence plates in China, the world's largest automobile market, but regulators are drafting rules to recategorise them.

Mar 25 - Volkswagen powers up for the electric vehicle revolution: Andy Home
Volkswagen CEO Herbert Diess is no Elon Musk but the German carmaker is following a path already traveled by Tesla as it gears up for the mass rollout of electric vehicles (EV).  Even last week's "Power Day", a two-hour streaming event at which Diess explained the company's EV strategy, seemed a conscious nod to Tesla's "Battery Day" last September. 

Mar 25 - Mexico eyes bigger role in lithium industry, sees speculation in mining concessions
President Andres Manuel Lopez Obrador said on Wednesday the Mexican state is considering taking a bigger role in lithium production, arguing companies were using mining concessions for speculation rather than mining the metal. Speaking at a news conference alongside his Bolivian counterpart, Luis Arce, Lopez Obrador was asked for his views about mining companies selling stakes in lithium projects in Mexico even as his government put a stop to new concessions.

Mar 25 - Vast Brazil lawsuit in UK against BHP over 2015 dam failure hits buffers
A 200,000-strong Brazilian claimant group said on Wednesday it had failed to resurrect a 5.0 billion pound ($6.9 billion) English lawsuit against Anglo-Australian mining giant BHP over a devastating 2015 dam failure. The Court of Appeal agreed with a lower court that the vast group action was an abuse of process, that claimants were already able to seek redress in Brazil and that the case would be "irredeemably unmanageable" if allowed to proceed.

Mar 25 - Freeport, Tsingshan finalising $2.8 bln copper smelter next week - minister
Freeport-McMoRan Inc will sign a $2.8 billion deal with China's Tsingshan Holding Group on March 31 to build a copper smelter in Indonesia's Weda Bay, senior minister Luhut Panjaitan said on Wednesday.  The smelter will have an input capacity of 2.4 million tonnes of copper concentrate and an output capacity of 600,000 tonnes, a slide presented by Luhut at a live broadcast on CNBC Indonesia showed. 

Mar 25 - Hitachi narrows metals unit buyers to 2 groups, including KKR, Jiji says
Hitachi Ltd has narrowed down potential buyers of Hitachi Metals Ltd to two groups, one of which is led by private equity firm KKR & Co, Jiji Press said on Thursday. If realised, the deal is expected to be worth more than 700 billion yen ($6.42 billion), one of this year's biggest M&As, Jiji said.

Mar 25 - Mitsui Mining to exit from copper mining, selling stake in Collahuasi mine
Japan's Mitsui Mining and Smelting said on Wednesday it would exit from copper mining by selling its 0.97% stake in the Collahuasi copper mine in Chile to Japanese trading firm Mitsui & Co as a part of a reshuffle of its asset portfolio. The mining and smelting company did not disclose the financial terms of the deal which is due to be completed by the end of March, but said the sale would result in a one-off gain of 9.5 billion yen ($87.5 million) for the year ending this month.

Mar 25 - Canadian miner meets Mexican officials over labor dispute
Canadian mining company Americas Gold and Silver Corp said late on Tuesday it had held talks with senior Mexican officials in a bid to resolve a dispute at one of its mines in the northern Mexican state of Sinaloa. The company has been embroiled in a labor dispute at the mine, and last week President Andres Manuel Lopez Obrador warned Americas Gold and Silver could have its concession revoked if it did not accept new trade union representation there.

Mar 24 - Shareholder proposes Nornickel dividend policy changes, Interfax says
Interros, Nornickel's largest shareholder, has proposed changing the metal miner's dividend policy before the current shareholder agreement expires in 2023 and paying 50%-60% of its free cash flow in dividends, Interfax news agency reported on Wednesday. Interros Holding, controlled by businessman Vladimir Potanin, aluminium producer Rusal and some other stakeholders have a dividend agreement under which Nornickel pays them twice a year. The deal expires on Jan. 1, 2023. 

Mar 24 - Global zinc market surplus shrank in January - ILZSG
The global zinc market was oversupplied by 11,700 tonnes in January after a revised surplus of 23,500 tonnes in December, data from the International Lead and Zinc Study Group (ILZSG) showed. For 2020, the surplus in the roughly 13.5 million tonne a year market was 536,000 tonnes, according to the ILZSG.

Mar 24 - Global steel output rises 4.1% yr/yr in February - World Steel Association
Global crude steel production rose 4.1% to 150.2 million tonnes in February from a year earlier, World Steel Association data showed on Tuesday. Crude steel output from China, the world's top producer and consumer of the metal, increased 10.9% to 83 million tonnes in February.

Mar 24 - Chalco profits fall to 4-yr low as pandemic brings bad debt writedowns
Chinese aluminium maker Chalco posted its lowest annual profit in four years in 2020 as more than $200 million in impairment charges mostly due to pandemic-hit customers struggling to pay for products outweighed a big rally in metal prices.  The state-run company, formally known as Aluminum Corp of China Ltd, said in a filing net income fell 13.1% year-on-year to 741 million yuan ($114 million) in 2020. That is its worst annual result since a 368 million yuan profit in 2016, Refinitiv Eikon data show.

Mar 24 - Workers at Antofagasta's Los Pelambres copper mine in Chile accept contract offer
Workers at Antofagasta's Los Pelambres copper mine in Chile have accepted a contract offer and abandoned the threat of a strike, the union said on Tuesday.  Members of the union voted 70.65% in favor and 29.35% against accepting the contract offer, union secretary Luis Silva said.

Mar 24 - Green Minerals listed in Oslo with aim to mine ocean floor in 2026
Cyprus-based Seabird Exploration on Tuesday listed its deep-sea mining arm Green Minerals, which aims for mineral production off Norway in 2026. In a separate statement, it also said it would collaborate with a consortium led by Oil States Industries, a subsidiary of oil service firm Oil States International, to develop a harsh environment deep sea mining system, and for the longer term would seek mining rights outside Norway.

Mar 24 - S.Africa's Northam Platinum winds up Zambezi Black economic deal
South Africa's Northam Platinum said on Tuesday that it would buy back all preference shares from its Black economic empowerment vehicle, Zambezi Platinum, four years ahead of its 10-year maturation date. The nearly 2 billion rand ($135.58 million) transaction will offer a 16% premium for the Zambezi preference share and will also include an overall 25% share buyback by Northam, the company said.

Mar 24 - Indian federal police charge 71 anti-Vedanta protesters over 2018 violence, sources say 
India's federal police have charged 71 people for rioting and arson during deadly protests over environmental concerns at Vedanta Ltd's copper smelter in Tamil Nadu state three years ago, sources familiar with the matter told Reuters.  Police opened fire to beat back the protesters in the southern seaside town of Thoothukudi where 13 people were killed, causing national outrage and the subsequent closure of the Sterlite Copper plant in May 2018 for alleged pollution.

Mar 23 - Aboriginal group has 'no visibility' on Rio Tinto's heritage reforms
An Australian Aboriginal group on whose lands Rio Tinto Ltd mines for iron ore said that heritage reforms Rio announced on Tuesday lacked detail and that it had yet to see an improved approach to cultural heritage management.  Rio Tinto outlined its plans earlier on Tuesday to improve its heritage management practices, 10 months after it destroyed 46,000-year-old rock shelters at Juukan Gorge in Western Australia against the wishes of traditional owners, causing public outcry. 

Mar 23 - Funds take the money and run as copper rally stalls: Andy Home
Funds have slashed their collective bullish bets on higher copper prices as the sizzling rally shows signs of stalling. London Metal Exchange (LME) copper hit a near-decade high of $9,617 per tonne last month, at which stage the price had more than doubled from its March 2020 lows. 

Mar 23 - Indonesia eases requirements for mining export permits, nickel excluded
Indonesia will now grant miners export permit for unrefined mineral ores, even if construction of their refining facilities is delayed, a move aimed at lessening the blow to the industry from the coronavirus, according to a document seen by Reuters. Indonesia announced last year it would ban exports of unprocessed ore by 2023 to spur higher value smelting industries in the country, and that only miners with refining facilities that were meeting their construction schedules would be eligible for export permits.

Mar 23 - Singapore probes nickel trading fraud, Envy Global director charged 
Prosecutors in Singapore filed charges of fraud and cheating on Monday against a director at commodity trading company in connection with a nickel trading scheme that raised at least S$1 billion ($746 million) from investors. The case is the latest in a string of scandals involving trading firms in Singapore. 

Mar 23 - Booming demand and shipping costs feed aluminium rally
Soaring shipping costs, booming demand and tight supplies of primary and scrap aluminium are likely to fuel further price rises for the metal, particularly in importing countries such as the United States and Europe. An unexpectedly strong demand recovery for aluminium used in the transport, packaging and construction industries helped to propel prices on the London Metal Exchange (LME) to $2,280 a tonne on Monday, the highest since June 2018.

Mar 23 - First deliveries on China's bonded copper futures total 6,225 T - exchange
The first deliveries of metal on the Shanghai International Energy Exchange's (INE) bonded copper futures saw a total of 6,225 tonnes worth 370 million yuan ($56.85 million) changing hands, the bourse said on Monday. The yuan-denominated futures, which are open to overseas investors, were launched in November last year and are designed to eventually give China, the world's top copper consumer, more influence over pricing. 

Mar 23 - Russia's Nornickel to cut emissions in Russia's border region with Norway, Finland
Russian metals producer Nornickel said on Monday it has shut down a metallurgical processing facility in Russia's border region with Norway and Finland which had been the area's main source of sulphur dioxide emissions. The shutdown, along with the recent closure of a nearby Nornickel smelting unit, will cut sulphur dioxide emissions in the area by 85% from 2015 levels to less than 30,000 tonnes this year, the company said.

Mar 23 Copper market in 24,000 tonnes surplus in Dec 2020
The global world refined copper market showed a 24,000 tonnes surplus in December, compared with a 93,000 tonnes deficit in November, the International Copper Study Group (ICSG) said in its latest monthly bulletin. For the first 12 months of the year, the market was in a 559,000 tonnes deficit compared with a 383,000 tonnes deficit in the same period a year earlier, the ICSG said.

Mar 23 - Russia's GV Gold sets IPO price range, final pricing expected around March 30

Russian gold miner GV Gold set its initial public offering (IPO) price range at 1,650-2,050 roubles ($21.90-$27.30) per share, implying a market capitalisation of 90.7 billion to 112.7 billion roubles, the company said on Tuesday.  GV Gold said the book-building period would start on Tuesday and continue until around March 29, with the final offering price expected to be announced on or around March 30.

Mar 22 - China's Jan-Feb copper, tin ore imports from Myanmar fall amid unrest
China's imports of copper metal and tin ore from Myanmar both fell more than 25% year-on-year in the first two months of 2021, customs data showed on Saturday, shedding some light on trade flows amid a state of emergency in the Southeast Asian country. The military seized power in Myanmar, the world's third-biggest tin miner, on Feb. 1, alleging fraud in November's elections. The coup sparked widespread pro-democracy protests, including in the copper mining hub of Monywa.

Mar 22 - Australia's Argonaut Resources starts drilling at project despite Aboriginal challenge
Australian miner Argonaut Resources on Monday said it had started drilling at the Murdie project in South Australia, despite opposition from an Aboriginal group that says the project will damage a sacred area. Last week, the Barngarla Aboriginal Corporation filed a legal challenge in the South Australian Supreme Court, requesting a review of the clearance granted to Argonaut in January by the South Australian Government under the Aboriginal Heritage Act 1988. 

Mar 22 - Glencore says Australian nickel plant running at reduced production after outage
Repair work is underway at Glencore PLC's Murrin Murrin nickel and cobalt plant in Western Australia following a component failure at an acid plant that left the facility running at reduced capacity, the miner said on Monday. The facility is located about 880 kilometres (550 miles) east of Perth in the north-eastern Goldfields region of Western Australia.

Mar 22 - China aluminium giant Hongqiao to publish carbon goals this year, chairman says
China Hongqiao Group, the world's biggest private-sector producer of aluminium, will this year publish targets for lower carbon emissions and an action plan on how to reach them, its chairman Zhang Bo said on Saturday.  China's energy-intensive aluminium smelting industry emitted more CO2 than entire countries such as Indonesia last year, according to think tank Ember, and is coming under pressure to draw up plans in line with national goals to start reducing emissions before 2030 and become carbon neutral by 2060. 

Mar 22 - China's crude steel output to peak around 2025 – govt consultancy
China's crude steel output will peak at around 1.16 billion tonnes in 2025, when carbon emissions in the sector will also reach a peak, a government consultancy said on Saturday. The steel sector accounts for 15% of China's total greenhouse gas emissions, making it a key focus after President Xi Jinping pledged last year to pass the peak of China's carbon emissions in the next ten years.

Mar 22 - Aluminium rattled by signs of "green" disruption in China:
Andy Home
Shanghai aluminium prices have this week powered to their highest level since August 2011. This month's volumes on the Shanghai Futures Exchange's aluminium contract are already the highest since 2017 and market open interest is at record peaks. 

Mar 22 - Chinese miner Zijin posts record annual profit as gold, copper prices surge 
Zijin Mining Co, one of China's biggest gold and copper producers, on Friday said its profits rose 51.9% year-on-year in 2020, setting an annual record high as prices for the two metals soared.  Xiamen-based Zijin posted net income of 6.51 billion yuan ($1 billion) last year, up from 4.28 billion yuan in 2019 and the company's best annual result in Refinitiv Eikon records, beating the previous high of 5.71 billion yuan in 2011.

Mar 22 - Boliden launches low-carbon copper products 
Sweden's Boliden said it has launched two "green" copper products this week, the first of its kind, hoping to appeal to consumers aiming to cut their carbon footprint. The two copper cathode products - one sourced from recycled electronic scrap, the other from reduced-emissions mining - will have less than half the average carbon dioxide emissions of traditionally mined copper, Martin Eriksson, copper sales manager, said on Friday.

Mar 22 - Centamin profit soars on strong gold prices during pandemic

Centamin's annual pretax profit nearly doubled as gold prices surged during the COVID-19 crisis, prompting the miner to declare a 2020 dividend and promise at least $105 million in payouts for the current year. Centamin, which operates the Sukari Gold Mine in Egypt, said profit before tax jumped to $315 million for the 12 months ended Dec. 31, from $173 million reported a year earlier, and proposed a final dividend of 3 cents per share.

Mar 19 - U.S. looks to Canada for minerals to build electric vehicles - documents
The U.S. government is working to help American miners and battery makers expand into Canada, part of a strategy to boost regional production of minerals used to make electric vehicles and counter Chinese competitors. On Thursday, the U.S. Department of Commerce held a closed-door virtual meeting with miners and battery manufacturers to discuss ways to boost Canadian production of EV materials, according to documents seen by Reuters.

Mar 19 - GFG secured Trafigura loan by offering aluminium at a discount - sources
Sanjeev Gupta's GFG Alliance secured a loan from Trafigura in 2018 by agreeing a six-year deal to sell aluminium to the commodity trader at a discount to market prices, two sources with direct knowledge of the agreement told Reuters. The loan was used to help finance the December 2018 purchase of Europe's largest aluminium smelter at Dunkirk, France, by GFG's Liberty House, the two sources said.

Mar 19 - Rio Tinto endorses resolutions pushing for emissions cuts targets, lobby group pressure
Rio Tinto Ltd said on Friday that it would endorse resolutions to set targets for cutting carbon emissions and take tougher measures against lobby groups that do not follow its climate change goals ahead of shareholder meetings next month. Mining companies around the world are under growing shareholder pressure to reduce their carbon footprint and take stringent climate actions to cut emissions, as calls for a shift towards cleaner forms of energy accelerate.

Mar 19 - Supply squeeze drags copper treatment charges below $20 a tonne
Extremely tight copper mine supply has pushed spot treatment charges for concentrate to their lowest in more than a decade, with three sources reporting miner-trader deals of less than $20 a tonne in recent tenders. Treatment and refining charges (TC/RCs) paid by miners to smelters to process ore into refined metal rise when supply is plentiful and fall when smelters are forced to compete for scarce material.

Mar 19 - Schlumberger unit to launch Nevada lithium plant as EV demand rises
Oilfield services firm Schlumberger's New Energy division said on Thursday it would launch a lithium extraction plant in Nevada to cash in on the surging demand for the battery metal from electric vehicle makers and technology companies. The division said it has invested more than $15 million in the direct lithium extraction process and expects the development and operation of the Nevada plant to require similar funding. 

Mar 19 - Alcoa Australian smelter wins lifeline bringing relief to embattled city
U.S. aluminium giant Alcoa Corp snared government aid and a power deal to keep its Australian smelter open for another five years, bringing relief to an embattled manufacturing and port city with more than 500 jobs saved. The Portland aluminium smelter's future had been in doubt after Alcoa flagged in October 2019 it was looking to improve, sell or shut 1.5 million tonnes of smelter capacity worldwide to cut costs and carbon emissions.

Mar 19 - China steelmakers expect strong Q2 demand, drop in iron ore prices - association
China's steelmakers foresee a strong second quarter on continued high demand and expect raw material prices to fall from recent peaks as supply tightness eases, the country's steel association said on Thursday. HBIS Group and Anshan Iron and Steel, two major steel firms in top producer China, were among those to take part in a seminar organised by the China Iron and Steel Association (CISA) to discuss recent developments and future trends.

Mar 19 - Global nickel surplus shrinks in January - INSG
The global nickel market surplus shrank to 8,400 tonnes in January from a revised surplus of 14,700 tonnes in the previous month, data from the International Nickel Study Group (INSG) showed on Thursday. Last year, the roughly 2.4 million tonne a year global market saw a surplus of 122,800 tonnes compared with a deficit of 32,200 tonnes in 2019, according to the Lisbon-based INSG.

Mar 19 - Italy guaranteed 86 mln euro Greensill loan to Gupta steel arm, filing says
The Italian government guaranteed an 86 million euros ($102 million) loan from Greensill Bank, part of the collapsed Greensill Capital group, to one of steel magnate Sanjeev Gupta’s firms, according to accounts filed with the Italian corporate registry in recent weeks. The firm, Liberty Magona SRL, secured a guarantee from SACE SpA, Italy's state-controlled export credit agency, for the loan under measures to help companies navigate the coronavirus crisis, according to Liberty Magona’s accounts for a period from Jan. 1, 2019 to June 30, 2020 which include information on material post-yearend events.

Mar 19 - Chile's lower chamber of deputies set to decide fate of mining royalty bill
Chile's lower chamber of lawmakers is set to decide the fate of a bill to hike royalties on mining companies operating in the world's top copper producer after legislative committees reported conflicting views on the initiative. The chamber's finance committee rejected the measure in a 7-5 vote late on Wednesday, with a majority arguing the bill could scare off mining investment at a time when the economy is just beginning to show signs of recovery following months of coronavirus-induced crisis. The chamber's mining committee, however, had previously blessed the bill.

Mar 19 - S.Africa's Northam Platinum profit surges 74% on metals prices
South African miner Northam Platinum on Friday reported a surge in mid-year profit driven by higher metals prices and said it would accelerate its capital expenditure in the second half. High prices for metals including platinum, palladium and rhodium helped boost PGM (platinum group metals) miners' earnings and weather the impact of the coronavirus crisis.

Mar 18 - Soaring prices spur miners' hunt for growth, fueling indigenous and investor ire
Miners from Australia to Canada are expanding operations despite concerns from indigenous groups about damage to wildlife, water supplies and religious sites, rankling investors who are pressuring the industry to improve its environmental, social and governance (ESG) standards. Prices for gold, copper and iron ore, which have recently hit record or multi-year highs, have spurred a hunt for growth that risks ignoring lessons the industry should have learned after the destruction of the Juukan Gorge caves in Australia by Rio Tinto last year, according to institutional investors.

Mar 18 - No relief for turbulent tin as supply squeeze worsens:
Andy Home
The tin market super-squeeze rolls on. Tightness on the London Metal Exchange (LME) contract remains acute. The massive premium for prompt delivery has enticed a trickle of metal into exchange warehouses, but not enough to tame market wildness. The outright three-month price is currently trading around $25,700 per tonne, within striking distance of February's ten-year high of $27,500. Tin remains the outperformer of the LME base metals pack, up 23% on the start of the year.

Mar 18 - High iron ore prices spur mining, protests in Australia's Tasmania

Buoyant iron ore prices have paved the way for mining in Australia's southern Tasmanian state, where developer Venture Resources' project has come under pressure from conservationists over potential impact on a wilderness area. Australia is the world's top producer of iron ore, almost all of which comes from the ancient Pilbara region in the country's west.

Mar 18 - 'At the limit': Chile's world-leading copper industry rejects lawmaker bid to hike taxes
Chile's sprawling copper industry has hit its limit in terms of tax burden, a senior industry executive told Reuters on Wednesday, warning lawmakers against a hike in royalties to take advantage of soaring global prices. Left-leaning opposition lawmakers in Chile, the world's top producer of the red metal, have called for levying higher taxes on the industry to help underwrite social programs and stimulus amid the coronavirus crisis. Those calls - including a direct tax on sales - have gained impetus in recent weeks as copper prices hit a decade-long high.

Mar 18 - Papua New Guinea's Ok Tedi copper mine suspends operations over COVID-19
Papua New Guinea's Ok Tedi Mining Ltd will suspend copper mining for two weeks from Friday because of a steep rise in coronavirus infections in the South Pacific nation, including the mine site. Ok Tedi Acting Managing Director Kedi Ilimbit said operations would be suspended for 14 days to stop further transmission of COVID-19 within its mining operations.

Mar 18 - Mitsubishi to buy 30% stake in Australia's Aurukun bauxite project
Japanese trading house Mitsubishi Corp said on Thursday it has agreed to buy a 30% stake in the Aurukun bauxite project in Australia from mining giant Glencore Plc for an undisclosed sum. The deal marks Mitsubishi's first investment in the mining of bauxite, a raw material of aluminium. The project is an undeveloped bauxite mine in Queensland and Glencore is assessing the feasibility of developing it.

Mar 18 - Australia's Nickel Mines plans to raise $300 mln for stake buy in Indonesia project
Australia's Nickel Mines Ltd said on Thursday it intends to raise $300 million through an offering of senior unsecured notes, as it looks to raise cash to fund its stake buy in an Indonesian project. Nickel miners have been looking to swoop up projects and shore up their output, seeking to benefit from soaring prices of the battery metal used to make electric vehicles.

Mar 18 - Australia's Argonaut says to start drilling despite Aboriginal appeal
Miner Argonaut Resources said on Wednesday it would go ahead with final preparations for drilling at its Murdie project in South Australia, despite a legal challenge by an Aboriginal group which says it would damage a sacred area. The miner, whose subsidiary Kelaray received state government approval to drill on the shores of Lake Torrens in January, is set to start exploration this week.

Mar 18 - Steelmaker ArcelorMittal steps up carbon-neutral push

ArcelorMittal will offer green certificates to customers willing to pay a premium for low-carbon steel, it said on Wednesday as it also launched a fund to support breakthrough technologies to curb carbon emissions from steelmaking. Steelmaking accounts for about 7-9% of global carbon dioxide emissions, but the world’s largest steelmaker aims to eliminate its net CO2 emissions by 2050 and is pursuing projects using hydrogen to convert iron ore to iron, as well as carbon capture and storage technology to help to meet its goal.

Mar 18 - Greek lawmakers seal revised deal to restart Eldorado's mines investment

Greek lawmakers approved a revised contract with Canada's Eldorado Gold Corp on Wednesday, opening the way for restarting a major mining investment stalled for years over licensing and environmental concerns. The Vancouver-based miner has been embroiled for years in a standoff with Greece over environmental concerns around its Skouries, Olympias and Stratoni projects in northern Greece, known as the Kassandra mines.

Mar 18 - Mexican president pressures Canadian miner over union dispute
Mexico could revoke a concession held by Canadian miner Americas Gold and Silver Corp in northern Mexico if it does not accept its new trade union representation there, President Andres Manuel Lopez Obrador said on Wednesday. Speaking at a regular news conference, Lopez Obrador said he would direct his foreign minister to speak to Canadian officials about the dispute playing out at Toronto-based Americas Gold and Silver's San Rafael mine, located in Sinaloa state.

Mar 17 - Nornickel downgrades output forecast by 15-20% after mine restarts delayed
Nornickel expects its 2021 nickel, copper, platinum and palladium output to fall 15-20% short of original guidance due to waterlogging at two Siberian mines, the Russian company said on Tuesday. The mines are unlikely to restart fully for another 3-4 months, the company said. The announcement pushed nickel, platinum and palladium prices higher. Nickel quickly gave back some of its gains, but platinum was up around 1% and palladium shot up 5% to its highest in more than a year. Nornickel shares were down 5.5% in Moscow.

Mar 17 - Russia's Rusal swings to net profit in second half
Russian aluminium giant Rusal said on Wednesday its adjusted net profit totalled $123 million in the second half of 2020 after a net loss of $172 million a year ago due to higher aluminium prices. Hong-Kong listed Rusal, the world's largest aluminium producer outside China, posted adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of $652 million for six months ending Dec. 31, up 49% from a year ago, while revenue fell by 8.5% to $4.6 billion.

Mar 17 - Swiss refiner says it can verify gold's origin to combat illegal supply
One of the world's biggest gold refiners said on Tuesday it had developed a way to quickly confirm where gold had been mined, potentially stopping illegal gold from entering supply chains. Metalor, a Swiss refiner with plants in the United States and Asia, said it devised the method with the University of Lausanne in a 26-month-long research project.

Mar 17 - British Steel CEO Ron Deelen to resign - FT
British Steel Chief Executive Officer Ron Deelen is poised to resign from his position, the Financial Times reported on Tuesday. Deelen will retire from the second-largest UK steelmaker at the end of the month to pursue new plans, the report said, citing people familiar with the matter.

Mar 17 - Chile's Codelco gets regulatory nod to extend life of Radomiro Tomic mine
Chile's Codelco, the world's largest copper producer, said on Tuesday it had received approval from the regional environmental regulator to extend the life of its Radomiro Tomic mine until 2030, a key part of a larger plan to maintain output from its aging operations in the South American nation. The Radomiro Tomic mine, which produced 261,000 tonnes of copper in 2020, was originally slated to end operations in 2022, the state-run company said, but advances in technology and processes will now allow it to tap additional resources.

Mar 17 - Brazil's Vale approves new three-year term for CEO Bartolomeo
Vale said the Brazilian miner's board approved the re-election of current CEO Eduardo de Salles Bartolomeo to serve a new three-year term, according to a securities filing on Tuesday. The company also said Legal Director Alexandre D´Ambrosio would move to the position of executive legal director, while Peoples Director Marina Barrenne Quental will become a member of the executive directors' board.

Mar 17 - Morocco's Managem takes 65% stake of Sudan’s Gabagba Gold mine
Morocco's leading mining firm Managem said on Tuesday it has completed a deal with China's Wanbao mining to control 65% of Sudan's Gabgaba gold mine extension projects. Extension plans are expected to cost up and related to 250 million dollars in order to increase output to 200,000 oz, Managem said in a statement.

Mar 17 - London Metal Exchange's Japan head leaves bourse
The head of the London Metal Exchange's (LME) Japan business has left the bourse after 4-1/2 years in the role, her LinkedIn profile showed on Tuesday. Xu Xiao, a Japanese and Mandarin speaker who was based at the LME's Singapore office, had also served as vice president, corporate sales for Asia since September 2016 before leaving at the end of February.

Mar 16 - OVHcloud is currently evaluating potential technical and operational measures to bring solutions to all affected customers. All communication channels, including our incident tracking platform, can be accessed so that you can stay informed of developments in real time.

You can find the last update concerning our C3 SWAP server :

- SBG-1 Situation : 4 of 12 rooms were damaged
- Electrical restart : Temporarily repowered on 13th March and will be restored permanently on 16th March
- Network restart :
+ Backbone: temporary connection to SBG on 15th March
+ Internal network to be redeployed on 16th March
- Server restart : Provisional ETA: Monday, 22 March for gradual restart

Mar 16 - Australia's Fortescue eyes Brazil plant amid green hydrogen push
Fortescue Metals Group Ltd is looking to build a green hydrogen plant in Brazil, executives told Reuters on Monday, as the Australian miner acts on recently announced plans to go carbon neutral by 2030. Fortescue Future Industries (FFI), a unit of the company, has signed a memorandum of understanding (MoU) with Porto do Açu, a major Brazilian seaport and industrial hub, to study the feasibility of installing a 300-megawatt green hydrogen plant onsite. The preliminary agreement, signed in late February, has not been previously disclosed.

Mar 16 - World aluminium industry must cut emissions by 77% by 2050 - IAI
The global aluminium industry must slash greenhouse gas emissions by 77% by 2050 to meet climate change goals, largely through shifting to green electricity, the International Aluminium Institute said on Tuesday. "The challenge for us and for many sectors is reducing those emissions while growing production to meet demand," Chris Bayliss, IAI deputy secretary general, told an online briefing.

Mar 16 - Antofagasta posts higher 2020 profit as copper prices surge
Chilean miner Antofagasta Chilean miner Antofagasta said full-year profit rose 12.3% in 2020, allowing it to increase its dividends, as copper and gold prices surged and its mines performed well despite some COVID-19-related disruption. Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose to $2.7 billion, meeting analyst expectations, Refinitiv SmartEstimate showed.

Mar 16 - China's Baotou clamps down on energy consumption, driving up aluminium prices
The Chinese city of Baotou in Inner Mongolia on Monday ordered some industrial production and power plants to shut down in a bid to meet its energy consumption targets for the first quarter, sending Shanghai aluminium prices toward decade highs. A document posted on the Baotou government website said the city, renowned as one of China's rare earth hubs, would shut down 34 ferroalloy companies and some captive power plants as part of a series of measures it said could reduce its energy consumption by 162,000 tonnes of standard coal in March.

Mar 16 - Glencore merges copper and zinc marketing, appoints new heads - source
Miner and commodity trader Glencore is combining its copper and zinc marketing operations, which will be run jointly by Jyothish George and Nick Popovic, a source with direct knowledge of the matter said. George will focus on zinc and copper metals and Popovic on zinc and copper concentrates, the source said on condition of anonymity.

Mar 16 - Protests outside Posco's India steel plant to be called off
Protests by townspeople outside South Korean steelmaker Posco's plant in western India will be called off because the company has agreed to meet some demands, a local politician leading the agitation told Reuters on Monday, paving the way for Posco to resume shipments to automakers. Operations at Posco's plant in Maharashtra state have been disrupted since early March. Residents of Raigad district near the facility protested over job opportunities and hiring practices. This has hit the supply chain for automakers and caused fears of production halts for some companies.

Mar 16 - UAE's EGA pre-tax earnings soar on product flexibility, cost control

The UAE's Emirates Global Aluminium (EGA) reported a 63% increase in pre-tax earnings on Tuesday, boosted by product flexibility, cost control, and a ramp-up in new upstream projects. The company that produces 4% of the world's total aluminium said annual adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the 12 months ended Dec. 31 rose to 4.1 billion dirhams ($1.13 billion) from 2.5 billion dirham a year prior.

Mar 16 - Silkroad to supply 2.7 mln T Indonesian nickel ore to China's Tsingshan
Silkroad Nickel said on Monday it would supply Chinese stainless steel giant Tsingshan Holding Group with 2.7 million tonnes of high-grade nickel ore in Indonesia by the end of 2022, marking its second major customer win this year. Singapore-listed Silkroad, which mines ore on the Indonesian island of Sulawesi, said in a filing it had inked a contract with Tsingshan unit PT Ekasa Yad Resources worth more than $90 million at current prices and would deliver at least 50,000 tonnes per month from March 2021 to December 2022.

Mar 16 - Miner Boliden warns profit to be hit by COVID outbreaks among staff

Miner Boliden warned on Monday that increased sick leave due to COVID-19 infections and production disruptions in its Aitik mine in Sweden and the Tara mine in Ireland would hit profits in the first quarter. The negative effect is expected to be nearly 200 million crowns ($23.4 million) and will affect Boliden's business area Mines, the Swedish group said in a statement.

Mar 15 - Fortescue sees green revolution, pushes for net zero emissions by 2030
Australia's Fortescue Metals Group, the world's fourth-largest iron ore miner, has set an ambitious plan to become carbon neutral by 2030, bringing forward the target by 10 years as it aims to start producing green hydrogen as soon as 2023. Fortescue Chairman Andrew Forrest predicted the world's conversion to green energy and green products would occur "almost violently" compared to most forecasts, which assumed hydrogen produced from renewable energy would only become commercially viable in the 2030s.

Mar 15 - China Jan-Feb aluminium output rises on new capacity increase
China's aluminium production rose 8.4% in the first two months of 2021 compared with the same period last year, official data showed on Monday, as smelters added new capacity and cashed in on soaring prices. Primary aluminium output in China, the world's biggest aluminium producer, was 6.45 million tonnes in January and February combined, the National Bureau of Statistics said. It combined data for the first two months to account for the distortions of the week-long Lunar New Year holiday.

Mar 15 - China mills crank up Jan-Feb crude steel output by 13% on firm demand outlook
China's crude steel output rose 12.9% in the first two months of 2021 compared with a year earlier, as steel mills increased production in expectation of more robust demand from the construction and manufacturing sectors. China produced 174.99 million tonnes of crude steel in January and February, National Bureau of Statistics (NBS) data showed on Monday. The bureau combined data for the first two months of the year to account for the distortions of the week-long Lunar New Year holiday.

Mar 15 - Speculators slash bullish bets on COMEX gold, silver - CFTC
Hedge funds and money managers slashed their bullish positions in COMEX gold and silver contracts in the week to March 9, 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.

Mar 15 - China's copper imports likely to rise, may not be bullish signal: Russell

China's imports of copper are likely to rebound in March, but the expected increase after a disappointing start to the year may not be quite as bullish as it appears at first glance. A range of factors, including port congestion, issues loading at major producer Chile and an ongoing unofficial boycott of imports from Australia, led to China's imports of both unwrought copper, and ores and concentrates failing to set the heather on fire in the first two months of the year.

Mar 15 - Russian miner GV Gold plans Moscow IPO
Russian mid-sized gold miner GV Gold, whose shareholders include U.S. fund BlackRock Inc, said on Monday that it plans to hold an initial public offering (IPO) and float its shares on the Moscow Exchange to diversify shareholder structure. The private firm has long considered going public, having first proposed an IPO in 2007 just before the global financial market crash.

Mar 15 - Congo Republic signs deal on revoked iron ore licenses with Sangha Mining
Congo Republic on Saturday has signed two mining conventions with Congo's Sangha Mining to exploit iron ore on licenses the government withdrew last year from Australian miners Sundance and Equatorial Resources, and Nevis-registered Avima. The government of Congo revoked the licenses on Avima; Badondo, operated by Equatorial Resources, and Nabeba, owned by Sundance last year, saying the companies had failed to meet their obligations to develop their high-grade iron ore concessions. The companies deny this.

Mar 15 - Core Lithium says Finniss awarded major project status by Australia
Australia's Core Lithium said on Monday its Finniss lithium project was awarded Major Project Status (MPS) by the Australian government. Major Project Status is the government's recognition of the national significance of a project, either for economic growth or employment, and includes support from the Major Projects Facilitation Agency (MPFA) for various approvals.

Mar 15 - Trafigura CEO expects 10 mln tonne supply deficit in copper market by 2030

Global commodities trader Trafigura sees a significant supply deficit in the copper market and a prolonged high-price cycle, its chief executive Jeremy Weir told the Fastmarkets Copper Seminar. "We see a significant deficit, possibly in the region of 10 million tonnes of additional copper is required to balance the market by 2030," he said.

Mar 15 - Shanghai bourse studies overseas warehousing for bonded copper contract
The Shanghai International Energy Exchange (INE) is studying the possibility of using overseas warehousing for its bonded copper contract as well as listing aluminium futures, its parent bourse said on Friday. Wang Fenghai, chief executive of the Shanghai Futures Exchange (ShFE), said on the Fastmarkets Copper Seminar the INE only uses delivery warehouses in Shanghai free trade zone for its bonded copper futures.

Mar 12 - Posco's steel plant in India faces disruption, hampers auto supply chain
Operations at South Korean steelmaker Posco's plant in the Indian state of Maharashtra have been disrupted due to local protests over labour and other issues, police and sources told Reuters, hampering the supply chain for automakers. A local politician leading the protests said they have blocked employees and goods from entering the plant and will continue until Posco heeds to some of their requests which include giving employment preference to local workers, raising the wages of temporary employees and making them permanent. 

Mar 12 - China environment minister urges crackdown on steel mills' illegal production
China's Ministry of Ecology and Environment (MEE) urged top steelmaking city Tangshan to severely crack down on violations of atmospheric environment rules after it found four steel mills failed to implement production curbs during heavy pollution.  Tangshan government had issued a second-level pollution alert on March 8, urging heavy industrial companies such as steelmakers and coking plants to cut production accordingly. 

Mar 12 - Argonaut to drill for copper against Aboriginal wishes in South Australia
Miner Argonaut Resources is preparing to start drilling for copper next week on the shores of South Australia's Lake Torrens, it said on Friday, against the stated wishes of local Aboriginal groups. Drilling for the Murdie project is set to begin after 20 semi-trailer trucks delivered accomodation units, ground protection matting, vehicles and specialist drills, Argonaut said in a filing to the stock exchange. 

Mar 12 - U.S. anti-dumping duties escalate aluminium trade friction: Andy Home
The United States has this month slapped anti-dumping duties on imports of common alloy aluminium sheet from 18 countries.  Trade barriers in the aluminium semi-manufactured products (semis) sector have proliferated over the last few years but this marks a major escalation. 

Mar 12 - Russian metal, fertiliser, other firms should invest more at home - Putin
Russian exporters of metals and other big firms should take the opportunity of an improved economy to invest more for the good of the country, President Vladimir Putin said on Thursday, a day after Nornickel paid a record environmental fine. Putin did not mention any companies by name, their dividends or investment projects, but he was speaking after metals miner Nornickel paid a $2 billion fine for an Arctic fuel spill.

Mar 12 - Salzgitter producing hydrogen for steelmaking using wind power
Germany's second-largest steelmaker Salzgitter on Thursday started to produce hydrogen using wind power at its Salzgitter site with view to reducing carbon dioxide emissions (CO2) in its production processes long term  "We are now technically in a position to achieve significant CO2 reductions using hydrogen," Chief Executive Heinz Joerg Fuhrmann told a press conference.

Mar 12 - Avima demands Congo Republic reinstate iron ore licence
Avima Iron Ore Limited said on Thursday it had written to Congo Republic's government to demand it either reinstate the company's production licence that was stripped last November or pay damages of $27 billion.  Avima's iron ore licence was one of three that Congo's government revoked late last year and handed to a little-known company backed by Chinese investment called Sangha Mining Development Sasu. 

Mar 2 - Agrimin's unit signs farm-in deal with Rio Tinto for copper-gold licenses in WA
Fertiliser developer Agrimin Ltd said on Friday its unit had signed a farm-in deal with Rio Tinto for sale of up to a 75% stake in five copper-gold licenses it holds in the West Arunta region of Western Australia. The farm-in and joint-venture deal is with Agrimin's 40%-owned unit Tali Resources Pty, and does not include any of Agrimin's tenements and does not cover any areas associated with its Mackay Potash Project. 

Mar 12 - London Bullion Market Association cancels its annual conference
The London Bullion Market Association (LBMA) said on Thursday it would cancel its annual conference, due to be held in Portugal in September, because of the coronavirus pandemic. The conference was also cancelled last year. The LBMA said in a statement it would instead hold a "series of virtual events in September".

Mar 11 - Hosting company OVH data center SBG1/2 heavy outage .
The data center in Strasbourg mainly hosts web applications for companies. Our server supporting SWAP recalculation in SGB1 is safe. We have been extremely lucky. OVH advise full recovery by March 15th ! Let's hope so.

Mar 11 - BHP says acquisitions unlikely near-term given high commodity prices
BHP Group is unlikely to make any major acquisitions in the near-term given rocketing commodity prices, and will instead focus on exploration and wringing more value out of existing assets, its chief executive said on Thursday. The world's biggest listed miner is looking to grow its exposure to "future facing commodities" or those expected to be cornerstones of the world's transition towards cleaner energy.

Mar 11 - Iron ore demand recovering outside China, but will it be enough?: Russell
The price of spot iron ore for delivery to north China has fallen in recent sessions as the market struggles to work through a competing series of both bullish and bearish factors. On the bearish side is some restrictions placed on steel production in the major Chinese producing city of Tangshan in order to combat air pollution, although these measures are likely to be only temporary in nature.

Mar 11 - Rio Tinto inks deal to sell first batch of scandium alloy from North America
Rio Tinto said on Thursday it had signed an agreement to supply the first batch of its aluminium-scandium alloy produced in North America to additive manufacturer and developer Amaero, to be used to develop powder for 3D printing. The scandium oxide will be supplied from a new plant the global miner is building in Quebec, and will use a process that Rio's scientists have developed to extract scandium oxide from waste streams of titanium dioxide production.

Mar 11 - Nornickel's $2 bln fine will be used to improve Arctic environment - Putin
Russian President Vladimir Putin said on Wednesday that a $2 billion fine paid by metals miner Nornickel after a fuel spill, the country's worst Arctic environmental disaster, will be used to improve ecology in the region. The leak of 21,000 tonnes of diesel into rivers and subsoil from a storage tank at Nornickel's power plant in Siberia last year had angered Putin. 

Mar 11 - Contractor asks Australia to review asset sale to China's Tianqi Lithium 
An Australian mining services contractor locked in a legal dispute with China's Tianqi Lithium Corp over failed payments has asked the Foreign Investment Review Board to examine a related sale, a company director said on Thursday. Perth-based MSP Engineering has asked FIRB to review a part sale of Tianqi's Australian lithium business to nickel miner IGO after Tianqi refused to pay it for constructing a battery-grade lithium processing plant in Western Australia. 

Mar 11 - LME to make improvements to electronic pricing during ring closure
The London Metal Exchange (LME) will make changes to its electronic system for closing prices to make it more efficient during the suspension of open outcry trading due to the pandemic, it said on Wednesday. Those changes were already being worked on well before a January proposal by the exchange to permanently close Europe's last open-outcry trading floor and move to an electronic system, a statement said.  

Mar 11 - Brazil's Vale approves list of board candidates
A nomination committee at Brazilian miner Vale approved a list of candidates to the board of directors for the 2021-2023 term, the company said in a securities filing on Wednesday. The company will send for shareholder vote the names of independent directors Clinton Dines, Elaine Dorward-King, José Luciano Penido, Maria Fernanda Teixeira, Murilo dos Santos Passos, Manuel Oliveira, Roger Downey and Sandra Guerra de Azevedo. 

Mar 11 - Copper prices to hit record high in next 12 months, China's Maike says
Copper prices will surge to an all-time high over the next 12 months as a result of strong demand from China's clean energy drive and years of under-investment in global mine supply, the chairman of Chinese metals trader Maike Group said on Wednesday. Benchmark prices for copper, widely used in power and construction, hit a 9-1/2 year high of $9,617 a tonne on the London Metal Exchange on Feb. 25, within striking distance of the all-time peak of $10,190 set in 2011, partly driven by optimism over coronavirus-related fiscal stimulus.

Mar 11 - Thyssenkrupp to cut additional 750 jobs at steel division 
Thyssenkrupp on Wednesday said it would cut a further 750 jobs at its steel division to soften the impact of the coronavirus crisis, weeks after talks to sell the unit to Britain's Liberty Steel collapsed. The latest cuts take the number of total layoffs to nearly 12,000 as the submarines-to-car parts conglomerate slowly emerges from years of crisis that have seen it sell its elevator division to ensure its survival.

Mar 11 - China stainless steelmaker TISCO to seek joint investments as boosts output - chairman 
China Taiyuan Iron & Steel (Group) Co Ltd, the country's second-largest stainless steelmaker, will seek joint projects with local and international companies to help meet its goal of tripling production, chairman Gao Xiangming said.  Known as TISCO, the Shanxi-based company is now part of China Baowu Steel Group after the steel giant took a 51% stake in TISCO last year as part of plans by China, the world's biggest steel producer, to consolidate its industry. 

Mar 11 - Eramet top shareholder backs strategy as CEO future debated
Eramet SA's top shareholder, the Duval family, supports management strategy, including the planned sale of aeronautics supplier Aubert & Duval, it said in a statement after recently suggesting a change of leadership at the mining group. The Duvals had written to the French state's APE shareholding vehicle, Eramet's second-largest shareholder, to suggest replacing chairwoman and Chief Executive Christel Bories.

Mar 10 - L'hébergeur OVH a été victime d'un lourde panne cette nuit causée par un incendie au sein de son data center de Strasbourg.
Le data center de Strasbourg héberge majoritairement des applications Web à destination des entreprises. Et c'est précisément ces dernières qui ont été touchées par l'incendie. C'est le cas de notre serveur supportant tous les calculs des pages SWAP.

Mar 10 - Hosting company OVH was the victim of a heavy outage this night caused by a fire in its data center in Strasbourg.
The data center in Strasbourg mainly hosts web applications for companies. And it is precisely these who were affected by the fire. This is the case with our server supporting all calculations of SWAP pages. We apology for inconvenience and will let you know when service is restored.

Mar 10 - Aboriginal group to rate miners like Rio, Fortescue on performance 
An Aboriginal group on Wednesday said it plans a scorecard to rate miners in Western Australia's iron ore heartland on how well they comply with various environmental, social and governance metrics.  The Wintawari Guruma Aboriginal Corp (WGAC), which represents the Eastern Guruma region in the Pilbara, said it hoped the move would help educate investors and the broader public after the destruction of ancient rock shelters by Rio Tinto last year. 

Mar 10 - More platinum deficits to come after record undersupply in 2020
The global platinum market will be roughly balanced this year after a record undersupply of almost a million ounces in 2020, but more deficits loom as demand picks up, the World Platinum Investment Council (WPIC) said on Wednesday. Platinum is used by auto makers who embed it in vehicle exhausts to neutralise emissions, as well as by other industry, jewellers and for investment.

Mar 10 - Battery metals buzz is back as Europe reboots EV sector
: Andy Home
The battery metals are back.  Both lithium and cobalt markets spent the last two years absorbing the glut of supply that followed the price boom of 2017-2018. Low prices and turgid trading conditions caused producers collectively to slam the breaks on expansion plans.  Both metals, however, have jumped back to life in 2021, with prices rallying hard in January and February. 

Mar 10 - Energy Secretary Granholm says U.S. needs to produce more EV minerals
U.S. Secretary of Energy Jennifer Granholm on Tuesday said the United States needs to boost domestic production of the minerals used to make electric vehicles, so long as it is done sustainably. The United States has been trying to wean its automobile supply chain off of China and other countries for years, with mixed results.

Mar 10 - Zimbabwe says China's Tsingshan to build iron ore mine, steel plant from May
China's Tsingshan Holding Group is set to start developing an iron ore mine and a carbon steel plant in Zimbabwe from May, the African country's information minister said late on Tuesday, three years after the firm first announced the investment deal. Tsingshan signed a $1 billion outline agreement with Zimbabwe in June 2018 to build a 2 million tonne-per-annum steel plant and has been carrying out exploration and seeking more mineral concessions.

Mar 10 - Shanghai copper bull brokerage cuts May long position by almost 25%

Shanghai Dalu Futures, the Chinese brokerage that built up bullish bets worth more than $1 billion on copper prices in just a few days last month, cut its long position on the May Shanghai copper contract on Tuesday by almost 25%, bourse data show. Shanghai Dalu, a previously little known firm that was rarely among the most active brokerages in base metals trading on the Shanghai Futures Exchange (ShFE), reduced its long position on May copper by 1,800 lots, or 24.3%, from a day earlier, to 5,588 lots. 

Mar 10 - China metals body chief warns of speculation risk amid volatile prices
The head of China's base metals body on Tuesday said the industry should pay close attention to the risk of speculators driving prices away from fundamentals, warning that sharp fluctuations would "do more harm than good". Ge Honglin, secretary of the Party committee at the China Nonferrous Metals Industry Association, made the comments as base metals including copper, nickel and aluminium fell sharply after hitting multi-year highs in February. 

Mar 10 - Neo Performance eyes expansion of European rare earths processing plant in Estonia 
Neo Performance Materials Inc is eyeing an expansion of its rare earth processing facility in Estonia to sate rising demand from European automakers and policymakers seeking to make the continent's electric vehicle industry less dependent on China. Rare earths are a group of 17 minerals used to build weapons, electric vehicles (EVs) and electronics. China is the world's largest producer and supplier of these minerals, prompting efforts across the European Union and the United States to produce their own

Mar 10 - Gupta says Liberty Steel has adequate financing after Greensill insolvency
Liberty Steel has adequate financing to meet its current requirements and is seeking long-term alternatives, its owner Sanjeev Gupta told British trade unions on Tuesday, after major financial backer Greensill Capital went into administration. Trade unions had demanded assurances about Liberty, which is Britain's third largest steelmaker with 3,000 workers and part of the Gupta family's GFG Alliance conglomerate, after Greensill Capital filed for insolvency on Monday. 

Mar 10 - EU should not endorse LBMA policing of gold refineries, rights groups say
Five human rights advocacy groups on Tuesday called on the European Union not to endorse the most important accreditor of gold refineries, a move that would create headaches for European bullion importers.  The EU is assessing whether schemes which certify that refiners are sourcing gold responsibly conform with conflict minerals regulation that came into force in the bloc this year. 

Mar 10 - Nornickel to take another week to halt water inflow at Siberia mines 

Russia's Norilsk Nickel said on Tuesday it expects it will be another week before it has an idea of when it can restart two waterlogged mines in Siberia. Nornickel, the world's largest palladium producer and a leading nickel producer, partly suspended operations at the Oktyabrsky and Taimyrsky mines on Feb. 24 after it detected subterranean water flowing into one of them. 

Mar 10 - Workers at Antofagasta's Los Pelambres copper mine in Chile reject contract offer
Workers at Antofagasta's Los Pelambres copper mine in Chile on Tuesday voted to reject the company's latest contract offer, paving the way for a strike, a union spokesman told Reuters. Of the union affiliates, 98.5% voted to reject the offer on a new contract for the next 36 months. The present contract expires on Tuesday. 

Mar 10 - Mercuria files case against Turkish firm over copper deal
Mercuria Energy Trading has launched a civil suit against a Turkish firm over what the global commodity trading firm's lawyer described as fraud related to a deal to buy copper worth $36 million. Last year, Geneva-based Mercuria agreed to buy about 10,000 tonnes of copper blister, an impure form of the metal, for delivery to China. About 6,700 tonnes of the total was loaded for shipment in containers on eight vessels.

Mar 10 - From land of promise to pariah state: Myanmar coup rattles foreign firms
Shortly after the military seized power, 55 foreign investors in Myanmar from Coca Cola to Facebook signed a statement committing to the country and employees there during developments of "deep concern". A month on, those pledges are being sorely tested with Myanmar's economy all but paralysed by massive anti-coup protests, widespread strikes and the junta's killing of dozens of protesters drawing calls for boycotts and sanctions.

Mar 09 - Chile copper export revenue surges 65% in February as prices soar
Chile, the world's top copper exporter, saw revenue from the export of the red metal surge in February, the central bank said on Monday, as the global copper price soared to highs not seen in a decade. Copper exports jumped 65% over the same period the previous year to $3.879 billion, the bank data showed.

Mar 09 - China's lacklustre commodity imports throw spanner in new super-cycle works: Russell

A warning shot has been fired across the bow of proponents of the view that commodities are entering a new super-cycle: China's imports of crude oil, iron ore, copper and coal in the first two month of the year look far from bullish. China is the world's largest importer of all these major commodities. It's also dominant in the two - iron ore and copper - that are perhaps the most important for backers of the theory that efforts to decarbonise the global economy mean the dawning of a new era of rising prices.

Mar 09 - UK unions to meet with Gupta's Liberty Steel after Greensill insolvency
Trade unions in Britain said they will meet with officials from British tycoon Sanjeev Gupta's Liberty Steel on Tuesday to seek assurances about jobs after a major financial backer went into administration. Greensill Capital filed for insolvency on Monday, its administrators said, days after losing investor funding and insurance coverage for its supply chain financing business. 

Mar 09 - Turquoise Hill beats profit estimates on higher copper, gold production
Canada's Turquoise Hill Resources Ltd posted a surprise rise in quarterly profit on Monday, helped by increased production of copper and gold at its Oyu Tolgoi mine in Mongolia. The results come a week after Chief Executive Officer Ulf Quellmann resigned amid a protracted dispute between the company and its top shareholder, Rio Tinto, over funding for the underground expansion of the Oyu Tolgoi copper-gold mine. 

Mar 09 - Sibanye CEO floats merger idea with Gold Fields, AngloGold Ashanti - report
Sibanye-Stillwater should merge with peers Gold Fields and AngloGold Ashanti to create a gold mining leader which would beat Newmont to the top spot, the miner's CEO Neal Froneman told South African newspaper Business Day on Monday.  "I think there are three high quality SA companies that should be put together," the article quoted Froneman as saying. Consolidation was necessary if South Africa-domiciled companies were to compete at a global level, he said. 

Mar 09 - U.S. revokes sanctions waiver for Israeli mining magnate Gertler
The United States on Monday revoked a sanctions waiver for Israeli mining magnate Dan Gertler that was issued in the last days of the Trump administration. The Treasury Department said exempting Gertler from sanctions was "inconsistent with America's strong foreign policy interests in combating corruption around the world," specifically in the Democratic Republic of Congo.

Mar 09 - Ganfeng joins China Minmetals lithium salt lake project for $225 mln 
Ganfeng Lithium Co said on Monday it would pay 1.47 billion yuan ($225 million) to take a 49% stake in a lithium salt lake project operated by compatriot China Minmetals Corp in Qinghai. The move will give Ganfeng, one of the world's top producers of lithium chemicals used in electric vehicle (EV) batteries, its first salt lake asset in China, adding to interests it holds in Argentina. 

Mar 09 - Namibia’s marine diamond miner’s production hit by COVID-19, drops 13% in 2020
Debmarine Namibia, a subsidiary of Anglo American's diamond unit De Beers, on Monday reported a 13% drop in production to 1.125 million carats last year as demand slumped during the COVID-19 pandemic. Namibia has the richest known marine diamond deposits in the world, and is among the top 10 producers of gem-quality diamonds globally. Production, however, has been severely hampered by weak demand on the international market.

Mar 09 - VZ Minerals secures second agreement for lithium-bearing mineral spodumene
Australia's AVZ Minerals said on Tuesday it had entered a second agreement to sell lithium ore mineral spodumene to Shenzhen Chengxin Lithium Group. AVZ said the second offtake agreement with the Chinese lithium products maker was for the supply of up to 180,000 tonnes of spodumene concentrate per year from it's Manono Lithium and Tin project in the southern Democratic Republic of Congo. 

Mar 09 - Royal Bafokeng Platinum declares maiden dividend as annual profit surges
South Africa-listed miner Royal Bafokeng Platinum posted a surge in 2020 profit on Tuesday, boosted by higher prices of platinum group metals as well as weakness in the domestic currency and declared its first dividend after its stock listing.  The platinum producer said headline earnings per share, the main profit measure in South Africa, surged to 1,354.4 cents for the year ended Dec. 31 from 50.4 cents a year earlier It declared a dividend of 575 cents per share.

Mar 08 - China Jan-Feb rare earth exports up nearly 30% y/y
China's rare earth exports rose 28.8% in the first two months of 2021 from a year earlier, customs data showed on Sunday, as consumers were able to stock up on material without the pandemic disruptions that slammed shipments in early 2020. Exports from China, the world's top producer of the group of 17 minerals used in military equipment, consumer electronics and catalytic converters, totalled 7,068 tonnes in January and February combined, up from 5,489 tonnes a year earlier, the General Administration of Customs said.

Mar 08 - Chile's Codelco expects $2.8 billion profit this year - media
Chilean copper company Codelco should increase its profits to $2.8 billion this year thanks to improved productivity and good prices, although the company does not expect to receive capital from the government, its top executive told local media. The president of the firm's board of directors, Juan Benavides, said in an interview in newspaper El Mercurio on Sunday that cost containment continues to be a main focus.

Mar 08 - China Jan-Feb copper imports rise 5% y/y despite price spike
China's copper imports rose 4.7% for the first two months of 2021 from a year earlier, customs data showed on Sunday, indicating stronger demand for the metal than in a pandemic-depressed early 2020 despite a recent spike in prices. Arrivals of unwrought copper and products into top consumer China were 884,010 tonnes in January and February combined, up from 844,723 tonnes a year earlier, the General Administration of Customs said.  

Mar 08 - Platts to launch 'green' aluminium prices in April
Platts will launch price assessments in April for 'green' aluminium, which is made using process that cut carbon emissions, the pricing agency said on Friday. The metals sector has struggled with adopting common standards for low-carbon aluminium as rival producers fight for market share among consumers who are under pressure to cut their own emissions footprints. 

Mar 08 - Nickel slumps as electric dreams are rudely disturbed: Andy Home
Nickel has endured its worst week in almost ten years, with the London Metal Exchange (LME) price collapsing by 16% in the space of two days to a three-month low of $15,830 per tonne.  The trigger for the ferocious sell-off was an announcement by China's Tsingshan Holding Group that it had signed deals to deliver nickel matte to two Chinese battery materials suppliers.

Mar 08 - China Jan-Feb iron ore imports up 2.8% on healthy demand
China's iron ore imports rose 2.8% for the first two months of 2021 from a year earlier, customs data showed on Sunday, as demand for the steelmaking ingredient was supported by a firm consumption outlook.  The world's top steelmaking nation brought in 181.5 million tonnes of iron ore in January and February, up from 176.6 million tonnes for the same period a year earlier, according to data released by the General Administration of Customs. 

Mar 08 - China Hongqiao profit hits record on high aluminium prices; output falls for 3rd year
China Hongqiao Group, the world's biggest private sector maker of aluminium, saw annual profits leap 72.2% to their highest on record in 2020 amid soaring prices for the metal, although production slipped for a third straight year.  Shandong-based Hongqiao posted annual net income of 10.5 billion yuan ($1.62 billion) last year, according to a filing to the Hong Kong stock exchange on Friday. That is its best result in company earnings records on Refinitiv Eikon going back to 2007, beating the previous high of 6.85 billion yuan in 2016. 

Mar 08 - Upstream tailings dams pose much higher stability risks, study finds
The most widespread type of dam used to store mine waste is nearly twice as unstable as the average tailings facility, a global study showed on Friday, highlighting the risk of so-called "upstream" construction techniques which some countries have banned. Concern over tailings dams intensified after the deadly collapse of Vale's Brumadinho upstream facility in January 2019.

Mar 08 - Nippon Steel to cut another 10% of capacity as pandemic hits demand
Japan's biggest steelmaker Nippon Steel Corp said on Friday it will reduce capacity by a further 10%, having already shut down 10% last year, due to falling domestic demand and intensifying competition from China. The company will close a large blast furnace at its Kashima plant near Tokyo, along with plate and shape mills, piping and tubing mills, galvanizing, titanium, stainless steel and other units around the country in the next few years.

Mar 08 - Thyssenkrupp steel unit must manage without funds from group - CEO
Thyssenkrupp's steel unit must cut costs to reach a point where it no longer needs financial support from the group, Chief Executive Martina Merz said in an internal memo to staff seen by Reuters on Friday. "Steel has to be set up in a robust way throughout the full cycle so that it no longer needs support from the group," Merz said in the memo.

Mar 05 - Tsingshan pulls the matte out from under nickel's rally
Chinese stainless steel and nickel giant Tsingshan Holding Group's decision to produce a large amount of nickel matte in Indonesia has eased investor concerns over battery-grade supply and pressured prices, industry analysts say. Nickel prices on the Shanghai Futures Exchange dropped by its maximum limit of 6% on Thursday, after hitting a record high last month. 

Mar 05 - Turquoise Hill CEO exits after Rio Tinto pressure, shares tumble
Canada's Turquoise Hill Resources Ltd said on Thursday Chief Executive Officer Ulf Quellmann has resigned after top shareholder Rio Tinto said it would vote against his re-election to the board.  The departure, effective March 3, comes with Turquoise Hill and global miner Rio locked in a protracted dispute over funding for the underground expansion of Rio's massive Oyu Tolgoi copper-gold mine in Mongolia. 

Mar 05 - China to "strengthen management" of strategic mineral resources, eyes green upgrade of steel
China will "strengthen management and control" of its strategic mineral resources, the government said on Friday as it set out a five-year development plan, without providing any details on how it plans to secure key supplies and boost self-sufficiency. China, the world's top metals consumer, relies heavily on overseas markets for some raw materials import such as iron ore, manganese and chrome. There was no immediate word on boosting strategic reserves across industrial metals in the plan. 

Mar 05 - Hostility to Beijing drives Chinese gold diggers into new territory
Chinese gold mining companies are on a buying spree in West Africa and South America, outbidding rivals for assets in less familiar regions as the governments in their usual hunting grounds turn against them. China's overseas mining M&A activity fell overall in 2020, Refinitiv data shows, but the number of acquisitions in the gold sector tripled from 2019 even though a surge in the gold market to record levels inflated premiums.

Mar 05 - Lithium giant Albemarle slams Chile over 'unjust' withholding of Atacama study

Albemarle Corp, the world's top lithium producer, has accused a Chilean regulator of "unjust" discrimination for refusing to make public a key report on the impact of mining on the Atacama salt flat, according to court filings. U.S.-based Albemarle in July last year asked to see the publicly funded report but regulator Corfo rejected the request after Chilean miner SQM, a top competitor, objected on grounds it contained confidential information. A government watchdog upheld the decision. 

Mar 05 - 85 tonnes of gold flowed out of ETFs in February as prices fell - WGC 

The amount of gold held by exchange traded funds (ETFs) fell by 84.7 tonnes worth $4.6 billion in February as rising bond yields reduced interest in bullion, the World Gold Council (WGC) said on Thursday.  ETFs storing gold for shareholders grew rapidly during the coronavirus crisis as investors amassed what they saw as a safe asset and central banks flooded markets with money, lowering bond yields and making non-yielding gold more attractive. 

Mar 05 - Bank of America, Morgan Stanley win dismissal of metals spoofing litigation
A federal judge in Manhattan on Thursday dismissed litigation by traders and trading firms accusing Bank of America Corp and Morgan Stanley of manipulating the precious metals futures market by placing trades and then cancelling them before execution, or "spoofing". U.S. District Judge Lewis Liman in Manhattan said the June 2019 lawsuit over alleged spoofing in gold, silver, platinum and palladium futures from 2007 to 2014 was filed long after the two-year federal statute of limitations had run out.

Mar 05 - LME's plan to end open outcry meets growing resistance:
Andy Home
The London Metal Exchange's (LME) proposal to end 144 years of open outcry trading is running into opposition from both brokers and industrial users. The iconic red-leather trading ring has been suspended since March last year due to COVID-19 social restrictions, with the generation of the LME's benchmark base metal prices being conducted on screen. 

Mar 05 - EV battery metals firm DeepGreen to go public in SPAC deal
Canada's DeepGreen Metals Inc, which aims to produce metals for use in electric vehicle batteries through deep-sea mining, plans to go public in a merger with a special purpose acquisition company (SPAC). The deal with U.S.-based Sustainable Opportunities Acquisition Corp will value the combined entity at $2.9 billion and include a $330 million infusion from investors including Allseas Group SA, Maersk Supply Service and Glencore, DeepGreen said in a statement on Thursday. 

Mar 05 - Rock and heavy metal: winners emerge in energy transition
Investors in metals and mineral extraction are poised to see their fortunes grow as the race to cut carbon emissions requires massive investment in commodities other than oil and gas. As world economies shift to more electrification and away from fossil fuels to reach net-zero carbon emissions by 2050, expect more copper mining and interest in metals like cobalt and nickel crucial to battery production, CEOs and global politicians said at this week's all-virtual CERAWeek energy conference. 

Mar 05 - New Caledonia agrees to Vale nickel mine sale, Tesla to be partner

Political leaders in New Caledonia on Thursday agreed new terms for the sale of Vale's nickel business, including a majority stakeholding for local interests, seeking to resolve unrest over the planned sale. The deal signed by pro-independence and loyalist leaders in the French Pacific territory also cited a "technical and industrial partnership" with Tesla, under which the electric car company would source raw materials for batteries.

Mar 05 - Polish miner KGHM looking to sell two U.S. copper assets - sources 
Poland's state-run mining company, KGHM, plans to sell its Robinson and Carlota copper mines in the United States and reinvest the proceeds in its domestic operations, two banking sources told Reuters.  KGHM, one of Europe's biggest copper and silver producers, became the owner of the U.S. mines in 2012, when it bought rival Canadian Quadra FNX.

Mar 05 - Aluminium producer Hydro agrees $1.65 bln sale of Rolling division
Norwegian aluminium maker Norsk Hydro has agreed to sell its underperforming Rolling division to private equity firm KPS Capital Partners for 1.38 billion euros ($1.65 billion), Hydro said on Friday. The division, which turns aluminium slabs into metal sheets used for packaging, automobiles and drinks cans among other products, had been under review since Hilde Merete Aasheim became Hydro's chief executive in May 2019

Mar 05 - ArcelorMittal Nippon Steel India plans $6.88 billion steel plant
ArcelorMittal Nippon Steel India Ltd signed an agreement on Thursday with the eastern Indian state of Odisha to build a $6.88 billion steel mill. The proposed plant to be built by the joint venture between ArcelorMittal and Nippon Steel would have annual production capacity of 12 million tonnes, the state government of Odisha said in a statement.

Mar 04 - Chile´s SQM posts record lithium sales in fourth quarter, price flounders
Chilean miner SQM, the world's No. 2 producer of lithium, said on Wednesday it posted record lithium sales in the last quarter of 2020, although floundering prices for the ultralight metal continued to weigh on the company´s profits. After the coronavirus pandemic dented earnings last year, SQM and peers like Albemarle are expected to cash in on surging demand for battery metal lithium, critical to the electric vehicles that have become popular amid climate change concerns.

Mar 04 - U.S. judge rejects SEC bid to expand Rio Tinto fraud lawsuit on Mozambique coal business
A U.S. judge on Wednesday quashed a bid to widen the scope of a civil lawsuit by the U.S. Securities and Exchange Commission that accused miner Rio Tinto of fraud at its Mozambican coal business, a court filing showed. The SEC filed a complaint against Rio in 2017 with allegations that it had fraudulently concealed the decline in value of the business.

Mar 04 -Five Eyes alliance urged to forge ties with Greenland to secure minerals
The intelligence sharing alliance known as Five Eyes should forge ties with Greenland to boost supplies of critical minerals and cut dependence on China, a think tank said on Thursday.  Greenland has huge deposits of rare earths, a set of 17 minerals used in a myriad of applications from electric vehicles to defence goods, a report by the London-based Polar Research and Policy Initiative said. 

Mar 04 - Nornickel warns on output as two mines remain partly suspended
Russia's Norilsk Nickel expects production losses as two of its main mines remain partly suspended due to an ingress of water, CEO Vladimir Potanin said on Wednesday, adding that it would calculate the losses by Tuesday. Nornickel, the world's largest palladium producer and a leading nickel producer, partly suspended operations at the Oktyabrsky and Taimyrsky mines in Siberia on Feb. 24 after it detected subterranean water flowing into one of them. 

Mar 04 - Global copper smelting edges lower in February due to Chinese holiday
Global copper smelting edged lower in February as industrial activity in top producer China declined during the Lunar New Year holiday, data from satellite surveillance of copper plants showed.  The decline in China was partially offset by gains in Europe and North America, which had been hit the previous month by pandemic-linked lockdowns, satellite service SAVANT and broker Marex Spectron said in a joint statement on Wednesday. 

Mar 04 - Congo's cobalt and copper production jumped in 2020, central bank says

The Democratic Republic of Congo produced 85,855 tonnes of cobalt in 2020, up 10% from 2019, the central bank said on Wednesday, with copper production also jumping 11.8% year-on-year.  The world's biggest cobalt producer and Africa's top copper miner took a hit when prices of the battery metals plunged during the global pandemic last year, but a strong rally has helped boost output in the heavily mining-reliant country

Mar 04 - Chile's Codelco to allow teleworking in post-coronavirus 'cultural change'
Chile's state-owned Codelco, the world's largest copper producer, said on Wednesday it would permanently incorporate teleworking into its shift schedule after months of experimenting with the model during the coronavirus pandemic. The sprawling mining company, which last year slashed personnel at work sites due to sanitary restrictions in hard-hit Chile, said that it had sent some 2,700 employees home to work remotely. 

Mar 04 - Mali, Emirates facilitated Venezuelan gold trade in 2020, opposition says
Venezuela sent gold to Mali in 2020 via Russian-owned planes to exchange for euros and U.S. dollars that President Nicolas Maduro's government used to remain afloat despite U.S. sanctions, an opposition representative said on Wednesday. Julio Borges, designated by opposition leader Juan Guaido as his chief overseas envoy, told reporters that the gold was refined in Mali and then resold primarily in the United Arab Emirates (UAE) to allow for Maduro's administration to obtain the equivalent of at least $1 billion in euros in particular. 

Mar 04 - Namibia moves to curb mining speculators, boost local ownership
Diamond and uranium producer Namibia said on Wednesday that locals who own mineral exploration licences will no longer be able to sell out to foreigners, in a move aimed at curtailing speculation in the sector. Mines and Energy Minister Tom Alweendo told Reuters that effective April 1, Namibian mining exploration licence holders will be required by law to retain at least a 15% stake. 

Mar 04 - Mining group Eramet's top shareholder pushes for CEO change - paper
Eramet's top shareholder the Duval family has written a letter suggesting the metals and mining firm replace chairwoman and CEO Christel Bories, business newspaper L'Agefi reported on Wednesday. The letter was written to state shareholding body APE, Eramet's second-largest shareholder, L'Agefi reported, citing unnamed sources.

Mar 03 - Rio Tinto chairman becomes latest high-profile departure after caves blast 
Rio Tinto, the world's biggest iron ore miner, said on Wednesday its chairman would step down next year to take responsibility for the destruction of ancient rock shelters, the latest in a string of high-profile departures over the blasts. Simon Thompson will step down after next year's annual general meetings, while non-executive director Michael L'Estrange, who led the review into the company's handling of the incident, will retire in May.

Mar 03 - U.S. Commerce sets anti-dumping duties on aluminum sheet from 18 countries
The U.S. Commerce Department on Tuesday issued final anti-dumping duties on common alloy aluminum sheet from 18 countries investigated, including up to 242.8% on imports from Germany and 4.83% on imports from Bahrain. The duties were announced just hours after Rhode Island Governor Gina Raimondo won confirmation as the new U.S. Commerce Secretary in an 84-15 U.S. Senate vote.

Mar 03 - Price queries soar after halt of open outcry trading, LME says
Objections by members of the London Metal Exchange (LME) to the accuracy of closing prices have nearly tripled since the open outcry floor was paused due to the coronavirus pandemic, new data released by the exchange on Tuesday shows. The 144-year-old exchange published data for the first time about the number of challenges to provisional prices at the close of trade, which are used to value end-of-day positions and margins. 

Mar 03 - Colombia, Peru may centralize purchase of gold to combat crime, environmental destruction
The governments of Colombia and Peru are studying the possibility of centralizing gold purchases, in an effort to combat illegal and informal extraction, officials from both countries said on Tuesday. Colombian President Ivan Duque said his government is considering the move to stymie the role illegal mining plays in fueling a decades-long internal conflict.

Mar 03 - China's Tsingshan signs pacts for 100,000 T nickel matte in EV push

China's Tsingshan Holding Group has signed agreements to provide nickel matte, which is used to make batteries for electric vehicles (EVs), to Huayou Cobalt and battery materials maker CNGR Advanced Material In a statement on its WeChat account on Wednesday, the Chinese nickel and stainless steel giant said it had agreed to provide 60,000 tonnes of nickel matte to Huayou and another 40,000 tonnes to CNGR within a year, starting from October 2021.

Mar 03 - Chile's Codelco copper output jumps in January, Escondida dips
Copper production at Chile's largest mines was mixed in January, as strong output at state mining giant Codelco was offset by weaker results at the huge Escondida mine, official figures released on Tuesday showed The state-run Chilean Copper Commission (Cochilco) reported that production by Codelco, the world's largest miner of the red metal, rose 19.4% year-on-year to 142,000 tonnes in the month. 

Mar 03 - Energy storage boom to propel zinc battery demand, industry association says

Use of zinc in the rechargeable battery sector is set to grow exponentially this decade with the buildout of energy storage to ensure electricity supply, the head of the International Zinc Association (IZA) said on Tuesday.  Annual demand for zinc in batteries was only 600 tonnes in 2020 but that figure is projected to rise to 77,500 tonnes in 2030, according to a presentation by IZA Executive Director Andrew Green at the start of the association's annual zinc conference, which is being held online.

Mar 03 - Glencore's Australia mine expansion threatens sacred sites - authority head
Expansion at an Australian lead and zinc mine run by miner Glencore puts at risk several sacred Aboriginal sites including a historical quarry, the head of a Northern Territory oversight authority told an Australian inquiry on Tuesday.  Glencore unit McArthur River Mine (MRM) received approval from the territory's mining minister last year to proceed with expansion at the mine, 670 km (420 miles) southeast of Darwin, including doubling the size of its waste dump. 

Mar 03 - Russia's Nornickel can restore water-hit mines, but unclear when - experts
Russian metals producer Norilsk Nickel can draw on Soviet-era know-how to clear two partly-suspended ore mines of water, but it is hard to predict how long the operation will take, two industry experts said.  Nornickel, the world's largest palladium producer and a leading nickel producer, was forced to partly suspended operations at its Oktyabrsky and Taimyrsky mines in Siberia on Feb. 24 after it detected subterranean water flowing into the facilities. 

Mar 03 - China steelmakers Baowu, Sangang to invest $3.1 bln in Fujian projects
China's top steelmaker Baowu Steel Group and regional producer Fujian Sangang Group have signed agreements to invest 20 billion yuan ($3.09 billion) in two separate steel projects in the southeastern Fujian province, local media reported on Tuesday. Southern regions are an increasingly popular investment destination for steel mills in China, the world's top producer of the metal, due to rising demand and more lenient environmental regulations compared with the more polluted north.

Mar 03 - S.Africa's ARM doubles interim dividend payout as half-year profit jumps
Diversified miner African Rainbow Minerals (ARM) doubled its interim dividend payout as half-year profit surged, driven by an increase in iron ore sales volume and higher prices for the steel-making ingredient and platinum group metals. The South Africa-listed company on Wednesday declared a dividend of 10 rand per share for the six months ended December, compared with 5 rand per share a year earlier.

Mar 03 - Russia's Polymetal reports record net profit on higher gold prices
Polymetal, one of Russia's largest gold and silver producers, said on Wednesday its 2020 net earnings rose to a record high of $1.1 billion due to stronger global prices for precious metals and higher sales of gold. "We are pleased to report record net earnings for the year amidst a challenging global backdrop," Vitaly Nesis, Polymetal chief executive said in a statement

Mar 02 - Mining magnets: Arctic island finds green power can be a curse
In the tenth century, Erik the Red, a Viking from Iceland, was so impressed with the vegetation on another Arctic island he had found he called it "the green land." Today, it's Greenland's rocks that are attracting outsiders - superpowers riding a green revolution.  The world's biggest island has huge resources of metals known as 'rare earths,' used to create compact, super-strong magnets which help power equipment such as wind turbines, electric vehicles, combat aircraft and weapons systems.

Mar 02 - To go electric, America needs more mines. Can it build them?
Last September, in the arid hills of northern Nevada, a cluster of flowers found nowhere else on earth died mysteriously overnight. Conservationists were quick to suspect ioneer Ltd, an Australian firm that wants to mine the lithium that lies beneath the flowers for use in electric vehicle (EV) batteries.

Mar 02 - Wells Fargo expands in precious metals after Scotiabank exit
U.S. bank Wells Fargo said it has expanded its precious metals trading business, filling gaps in the market left by the withdrawal of Bank of Nova Scotia (Scotiabank). Scotiabank was for years the biggest global lender to the physical precious metals industry. It decided in 2018 to downsize and last year to exit the sector. 

Mar 02 - U.S. Forest Service blocks land swap for Rio Tinto's Arizona copper mine
The U.S. Forest Service on Monday blocked a land swap sought by Rio Tinto Ltd in Arizona for its proposed Resolution Copper mine, dealing a serious blow to the project and a major win to Native American tribes. The agency reversed a decision made in the waning days of former President Donald Trump's administration. The move comes less than a week after Tom Vilsack was sworn in as secretary of the Department of Agriculture, which oversees the Forest Service.  

Mar 02 - Nippon Steel to boost R&D spending to hasten decarbonisation
Nippon Steel, the world's No.3 steelmaker, will boost research and development (R&D) spending to speed decarbonisation in steelmaking as it faces growing pressure to cut carbon emissions to help tackle climate change, a company executive said.  "We will input considerable resource into R&D on decarbonisation technology," Executive Vice President Katsuhiro Miyamoto told Reuters in an interview on Friday. Further details will be laid out in March. 

Mar 02 - Endeavour pivots to exploration to shake 'M&A junkie' image after deal spree
Canadian gold firm Endeavour Mining, which is preparing for a London listing late next quarter, is switching its focus to integrating new mines after a $2.7 billion acquisition spree in West Africa last year spooked some investors.  The group, whose share price has underperformed a wider index of gold mining stocks to slide nearly 30% since mid-2020, is hitting the brakes on new purchases after buying mining firms Semafo and Teranga Gold in the last year.

Mar 02 - Bulls run wild: Chinese funds throw more fuel on copper's flames: Andy Home
Copper punched through the $9,000-per tonne level last week for the first time since 2011, with a red-hot rally showing no signs of abating.  The London Metal Exchange (LME) three-month copper price reached $9,617 per tonne on Thursday, within sight of the all-time high of $10,190 recorded almost exactly 10 years ago. 

Mar 02 - German union IG Metall calls for strikes to secure 4% pay increase
Germany's largest trade union, IG Metall, on Monday called on workers in the iron and steel industry to stage so-called "warning strikes" to raise pressure on employers to agree to a 4% wage increase, reduced working hours and re-training to safeguard jobs. "There has been a V-shaped recovery during the crisis in the main industries since the summer break. This means orders recovered significantly by the end of the year," IG Metall head Joerg Hofmann said.

Mar 02 - Metals prices to rise as energy transition occurs - Goldman Sachs' Currie
Prices of commodities, including some metals, will rise as the energy transition occurs, Goldman Sachs' global head of commodities research and global investment research Jeff Currie said on Monday at CERAWeek by IHS Markit. To increase electricity output and cut carbon emissions, vast quantities of copper are needed, Currie said, adding the switch could send copper prices higher and recast the geopolitical landscape, with copper producing heavyweights like Chile taking on a role similar to the one Saudi Arabia plays in the energy industry. 

Mar 02 - Barrick CEO says tie-up with Freeport would have been logical move
Barrick Gold Chief Executive Mark Bristow said on Monday a combination with copper miner Freeport McMoRan "had a lot of logic to it" even though a deal between the companies did not pan out.  Freeport CEO Richard Adkerson told Reuters last week that he has no desire to combine Freeport with Barrick or another gold producer, saying such a deal didn't make sense. 

Mar 02 - Nornickel operations chief to leave in management shake-up
Russian metals producer Norilsk Nickel's (Nornickel) Chief Operating Officer Sergey Dyachenko is leaving the company as part of a management restructuring, it said on Monday. The shake-up follows a number of environmental and industrial accidents at the world's largest producer of palladium and major producer of nickel. The company faces a $2 billion payout over environmental damage after an Arctic fuel spill in May, which has been followed by a series of smaller accidents. 

Mar 02 - Precious metals miner Fresnillo annual profit soars, cautious on 2021 outlook 
Precious metals miner Fresnillo Plc reported a sharp jump in full-year pre-tax profit on Tuesday, boosted by strong gold and silver prices, but the company said it remains cautious for 2021 due to the continued impact of the pandemic in Mexico. The South American nation's largest gold producer said profit before income tax jumped to $551.3 million for the 12 months ended Dec. 31 from $178.8 million in the previous year, beating analyst estimates of $472.2 million, according to Refinitiv Eikon.

Mar 01 - China says underpricing rare earths will lead to race to bottom
China's rare earths are underpriced due to vicious competition and face low resource utilisation, which would lead to a race to the bottom, the country's industry minister said on Monday.  "Our rare earths did not sell at the 'rare' price but sold at the 'earth' price... because of competitive bidding, which wasted the precious resource," Xiao Yaqing from the Ministry of Industry and Information Technology (MIIT) said during a news briefing. 

Mar 01 -
Brazil's Vale bullish on metal prices, seeks to accelerate copper projects
Executives at Brazil's Vale SA, the world's second largest iron ore producer, said premiums for the commodity were at a "unique moment" and that they were also confident regarding the trajectory of copper in 2021. In a conference call with analysts to discuss the company's 2020 financial results, executives attributed high iron ore prices to factors including a ban by China on Australian coking coal. Coking coal, like iron ore, is a vital ingredient in steelmaking.

Mar 01 - Australian teens lead class action against Whitehaven's coal mine expansion
A class action against a coal mine extension that begins on Tuesday could make it more difficult for coal mines to be approved in Australia on the basis of intergenerational equity and climate change, if the claimants prove successful. The landmark claim, by a group of eight teenagers from across Australia, begins on Tuesday in Melbourne's Federal Court and is expected to last for five days, but a judgement may not be made for several months. 

Mar 01 - Chile's Codelco reports bumper year for profits despite pandemic
Chile´s Codelco, the world´s top copper producer, reported pre-tax profits of $2.078 bln in 2020 and said it had upped output from its own mines by 2% to 1.618 mln tonnes, despite being forced to rely on skeleton crews for almost half the year amid strict measures aimed at curbing the coronavirus outbreak. The 55% increase in profits came amid a surge in global metal prices and higher sales as global markets including Chile's main buyer China begin to rally from the pandemic.

Mar 01 - China names more certified scrap metal suppliers and importers
China's metal recycling body on Friday issued a second list of 26 foreign suppliers that would be allowed to export copper and aluminium scrap to the country and 44 certified domestic importers.  The world's top metals consumer had banned imports of solid waste from 2021 but gave the green light to high-grade metals scrap meeting new standards that had been reclassified as recycling resources. 

Mar 01 - JPMorgan, Bradesco working on IPO of Brazilian steelmaker CSN's cement unit, sources say
Brazilian steelmaker Cia Siderurgica Nacional is working with the investment banking units of Banco Bradesco SA and JPMorgan Chase & Co to arrange the initial public offering of its cement unit, two sources with knowledge of the matter said. CSN, as the company is known, expects to conclude the IPO of the unit by the fourth quarter, the people added, asking for anonymity to disclose private talks.

Mar 01 - Mexican mining chamber warns uncertainty to bring investment cuts
Mexico's large mining sector will likely see some recovery this year after 2020's pandemic-induced slump, but a key industry leader said he fears rising political risk will drag down growth as companies focus new investments elsewhere. Fernando Alanis, president of Mexican mining chamber Camimex, said in an interview that growing doubts on government polices like permitting and concessions will lead to at least a dozen companies to shift new investments to more inviting countries like Peru and Chile this year.

Mar 01 - EU reviewing extension to steel import curbs
The European Commission on Friday began to review a possible extension of steel import curbs introduced in 2018 after Washington imposed 25% steel import tariffs. EU steelmakers face global overcapacity and non-EU exporting countries are seeking markets for piled-up stocks, with various trade restrictions and no sign the United States is about to remove tariffs, which have closed the country to many exporters.

Feb 26 - Freeport eyes U.S. expansions as Biden's EV plan boosts copper demand
Freeport-McMoRan Inc is set to approve expansions at several of its U.S. copper mines to capitalize on surging demand for the red metal as President Joe Biden moves to electrify the nation's automobiles and combat climate change, Chief Executive Richard Adkerson told Reuters. The expansions would be a major bet on the U.S. economy - one of the company's largest markets - and also on the rising demand for electric vehicles (EVs), which use twice as much copper as internal combustion engines.

Feb 26 - LME data to support end to open outcry is misleading, brokers say
Two commodities brokers say data the London Metal Exchange is using to support its proposal to shut its trading floor for good exaggerates the increase in the use of electronic platforms during coronavirus lockdowns. Sucden Financial and StoneX Financial, which oppose the end of so-called ring trading at the 144-year-old exchange, say data used by the LME in a presentation does not take into account electronic trading before floor trading was suspended in March.

Feb 26 - Brazil's Vale books hefty dam disaster charges, but bullish about core earnings
Brazil's Vale SA logged $4.9 billion in provisions related to the Brumadinho dam disaster in quarterly earnings, but its ferrous metal division turned in a strong performance and the miner was upbeat about the outlook for key products. Some $3.9 billion of the provisions are part of a recently announced $7 billion agreement with prosecutors and the state of Minas Gerais to settle claims stemming from the collapse of the dam in 2019 which killed 270 people.

Feb 26 - Indonesia says "ready to fight" EU at WTO over nickel export curbs
Indonesia is "ready to fight" the European Union's challenge of the Southeast Asian country's ban on nickel ore exports at the World Trade Organisation, arguing the bloc's actions may hinder Indonesia's development plans, the trade minister said. Once the world's biggest exporter of nickel, Indonesia banned ore exports last year to incentivise foreign investors to help develop a full nickel supply chain in the country, starting from extraction, processing into metals and chemicals used in batteries, all the way to building electric vehicles.

Feb 26 - Aboriginal Australian group encouraged but wary of South32's engagement
An Australian Aboriginal group said it was encouraged by the increased engagement taken by miner South32 over a new mine in Western Australia but remained cautious whether the miner will do more than the legal minimum. Chief Executive Officer Graham Kerr said the miner had increased its interactions with the Noongar people over the development of its Hotham bauxite mine, which will produce the aluminium raw material at one of Western Australia's largest mining projects outside of iron ore.

Feb 26 - Surge abates but silver has more friends than ever: Andy Home
This month's crowd surge on the silver market quickly dissipated after the price lost momentum above the $30-per ounce level and fell back just as sharply as it had risen.  The Robinhood army has been in retreat ever since. The iShares Silver Trust (SLV), a physically-backed exchange traded fund (ETF), was the prime conduit for the mass attack. It has seen redemptions equivalent to 65 million ounces, a near 10% drop in holdings, since the start of February, when the hunt for the mythical big silver short was in full cry.

Feb 26 - Commodity prices boost Anglo American in 2020 after COVID-19 hit
Anglo American beat forecasts with a small fall in 2020 earnings and boosted its dividend after strong commodity prices helped the diversified miner recover from coronavirus disruptions in the first half of the year. The company's shares were 4.5% higher in London at 1025 GMT, the second biggest gain on the benchmark FTSE 100.

Feb 26 - Global steel output rises 4.8% yr/yr in January - WorldSteel
Global crude steel production rose 4.8% in January from a year earlier to 163 million tonnes, World Steel Association data showed on Thursday. Crude steel output from China, the world's top producer and consumer of the metal, increased by 6.8% to 90.2 million tonnes in January.

Feb 26 - Australia's Orocobre forecasts higher lithium prices as market outlook brightens
Australia's Orocobre said on Friday it expects lithium prices to strengthen as demand recovers from coronavirus-related weakness that hurt the lithium miner's first-half profit. The lithium and borax miner said net loss after tax widened to $29.1 million for the half-year ended Dec. 31, from $18.9 million last year.

Feb 26 - Peru's Southern Copper: global price rally spurring new projects
Peru's Southern Copper Corp, one of the world's top copper producers, plans to push forward new and pending projects as demand from China and constrained supply helps propel a global price rally, an executive told Reuters on Thursday. Raul Jacob, the company's vice president for finance, said in an interview the miner hoped to advance development of the sprawling $5.4 billion Chancas and Michiquillay projects under a new government which will come in after elections in April.

Feb 26 - South Africa's Gold Fields gets step closer to curbing reliance on Eskom
South Africa's energy regulator on Thursday approved a power generation licence for a large solar plant at Gold Fields' South Deep mine, a long-awaited breakthrough for miners desperate to curb their reliance on ailing utility Eskom. Mining firms say red tape has prevented them from generating their own power for years and have lobbied the government for rule changes.

Feb 25 - Aboriginal Australian group encouraged but wary of South32's engagement
An Australian Aboriginal group said it was encouraged by the increased engagement taken by miner South32 over a new mine in Western Australia but remained cautious whether the miner will do more than the legal minimum. Chief Executive Officer Graham Kerr said the miner had increased its interactions with the Noongar people over the development of its Hotham bauxite mine, which will produce the aluminium raw material at one of Western Australia's largest mining projects outside of iron ore.

Feb 25 - Anglo American boosts 2020 dividends as metals prices climb
Anglo American posted a slight fall in profits for 2020 but boosted dividends after strong commodity prices helped the diversified miner recover from coronavirus disruptions suffered in its first half. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA), a measure closely watched by analysts, fell 2% to $9.8 billion in the year to December, beating a consensus of $9.4 billion from nine analysts compiled by Vuma.

Feb 25 - Nornickel shares drop after partial suspension of operations at two mines
Norilsk Nickel said on Wednesday it had partially suspended operations at its Oktyabrsky and Taimyrsky mines in Siberia because it had detected an inflow of water underground, sending shares of the Russian metals miner down more than 6%. Nornickel is the world's largest palladium producer, accounting for 40% of the globally mined metal, and one of the world's largest nickel producers. It is also a major producer of copper and platinum. Ore from the two mines contains those four metals.

Feb 25 - In Brazil, an indigenous woman joins Bolsonaro in fight for mining

Irisnaide Silva is female, Brazilian and indigenous... Now, Silva has the ear of none other than Jair Bolsonaro, Brazil's president. A fervid nationalist abhorred by the global green movement for his eagerness to develop the Amazon rainforest, Bolsonaro has twice met Silva in the capital Brasilia. 

Feb 25 - Russia's Polyus Q4 net profit up 20% y/y on higher gold prices
Russia's largest gold producer Polyus said on Thursday that its fourth-quarter net profit rose 20% year-on-year to $835 million due to a 26% increase in gold prices. Its fourth-quarter adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) stood at $1.1 billion, up 29% year-on-year, while revenue rose 18% to $1.5 billion.

Feb 25 - Chinese broker Shanghai Dalu holds top long position in INE copper
Shanghai Dalu Futures, the Chinese brokerage that has amassed a $1 billion long position on Shanghai Futures Exchange (ShFE) copper, is also very bullish on the metal on ShFE's subsidiary bourse, data showed on Wednesday. The brokerage's large bullish bets have startled some traders as prices for copper, widely used in power and construction, hit 9-1/2-year highs.

Feb 25 - South Africa's Implats half-year profit surges, hikes dividend
South Africa's Impala Platinum (Implats) on Thursday posted a four-fold increase in headline earnings and declared a bumper interim dividend, as higher metals prices and a weaker rand exchange rate boosted its profit. The platinum miner reported headline earnings per share (HEPS) of 1855 cents for the six months ended on Dec. 31, compared with 436 cents per share last year.

Feb 25 - Canada's Lundin group sees Argentine gold and silver mine opening in 2026 
Canadian mining group Lundin plans to begin operating its Argentine silver-gold-copper project Josemaria in 2026, after an investment of $ 3.09 billion, a company spokesman told Reuters on Wednesday. Argentina is pointed out by many experts as a country with great untapped mineral wealth, mainly along the Andes mountain range. If San Juan province approves an environmental study this year, as expected, construction of the mine will begin in 2022.

Feb 25 - Australia's Iluka Resources eyes downstream processing of rare earths
Australian mineral sands explorer Iluka Resources Ltd said on Thursday that it is actively exploring the potential for downstream processing of rare earths in Australia. The Perth-based company indicated that the endeavour could be the Phase 3 development of its Eneabba operation in Western Australia, adding that it has commenced a feasibility study for a fully integrated rare earths refinery.

Feb 25 - PolyMet wins Minnesota top court ruling on $1 bln mine
Minnesota's highest court on Wednesday handed a victory to PolyMet Mining Corp, saying state regulators need not investigate allegations of "sham permitting" when considering an air emissions permit for the company's proposed $1 billion copper-nickel-platinum mine. The Minnesota Supreme Court said the federal Clean Air Act did not require the Minnesota Pollution Control Agency to examine objections to the proposed NorthMet mine made by four environmental groups and the Fond du Lac Band of Lake Superior Chippewa tribe.

Feb 25 - Poland's KGHM sees copper demand rising amid green energy projects - CEO
Polish copper producer KGHM plans to maintain 2021's projected output levels in subsequent years, with higher demand expected on the back of increased investment in green energy projects, its chief executive said. State-run KGHM had considered closing operations when the coronavirus pandemic first hit Poland last March amid uncertainty over demand and prices, but opted to continue production with special measures in place.

Feb 25 - Brazilian steelmaker Gerdau's EBITDA 54% above estimates

Brazil's Gerdau reported fourth-quarter net income of 1.057 billion reais ($194 million) on higher sales in Brazil and North America, the steelmaker said in a securities filing on Wednesday. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of 3.056 billion reais was 54% above the 1.981 billion reais forecast by analysts, a Refinitiv Eikon poll showed.

Feb 24 - Chile's big copper producers cheer price spike; wary of costs
Mining firms in Chile, the world's No.1 copper producer, are cheering a rally in the price of the red metal that hit a 10-year high this week, but warned that costs could rise as labor unions and vendors also try to cash in on the trend. Benchmark copper on the London Metal Exchange climbed this week above $9,000 a tonne for the first time since 2011. Analysts said they were bullish that surging demand from the power and construction industries will overwhelm supply.

Feb 24 - BHP and Aboriginal group probe fallen rock shelter in W. Australia
BHP Group has launched a joint investigation with an Indigenous group into what caused a rock fall at a culturally significant rock shelter at its iron ore operations in Western Australia, both groups said. BHP discovered the damage to the site of significance to the Banjima people on Jan. 29, as part of monitoring at its Mining Area C operations. It informed its Banjima partners and the groups agreed to set up a probe into the incident, BHP President Minerals Australia, Edgar Basto said in a statement.

Feb 24 - Chinese brokerage builds bullish $1 bln copper bet in four days
Shanghai Dalu Futures, a brokerage on the Shanghai Futures Exchange, has amassed a $1 billion long position in copper contracts within just four days, bourse data showed. The move comes as copper prices roughly doubled from levels seen less than a year ago thanks to a resurgence in global industrial activity and a slew of stimulus measures that look set to increase consumption, while supply remains tight.

Feb 24 - U.S. manufacturers grapple with steel shortages, soaring prices
An aerospace parts maker in California is struggling to procure cold-rolled steel, while an auto and appliance parts manufacturer in Indiana is unable to secure additional supplies of hot-rolled steel from mills. Both companies and more are getting hit by a fresh round of disruption in the U.S. steel industry.

Feb 24 - German metals association opposes LME trading reforms
London Metal Exchange (LME) reform proposals came under fire from Germany's influential VDM metals association on Tuesday, with the influential body denouncing plans to abolish open-outcry trading and change how clearing margins are set. The association said that an end to open-outcry trading will damage liquidity while the proposed change to the way clearing margins are set for LME members could restrain credit access for physical market participants.

Feb 24 - New Swedish venture eyes fossil fuel-free steel production in 3 years
Swedish steel venture H2 Green Steel is planning to build a fossil fuel-free steel plant in the north of Sweden, including a sustainable hydrogen facility, with production starting in 2024, it said on Tuesday. The Lulea-based venture, which is in the process of closing 50 million euros ($60.7 million) in series A equity financing, said in a statement that by 2030 it plans to have an annual production capacity of 5 million tonnes.

Feb 24 - Brazil's BNDES closes out its stake in miner Vale
Brazilian development bank BNDES has closed out its stake in miner Vale SA, selling 188.5 million shares and raising around 11 billion reais ($2 billion), the bank confirmed in a statement on Tuesday. The sale of the 3.6% stake in the miner, carried out by the bank's equity arm BNDESPar, comes as BNDES seeks to exit its position in various companies as part of a broader government divestment plan. In November, a similar sale of Vale stock raised 2.54 billion reais.

Feb 24 - Brazil steelmaker CSN plans to raise prices by 25% in Q2 
Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) said on Tuesday that it expects to raise its prices by an average of 25% in the second quarter as it moves to shrink its debt. CSN Chief Executive Benjamin Steinbruch said in a call to analysts that believes the steelmaker's debt rating could be upgraded in "weeks" as the company plans to reach its deleveraging goal in 45 days.

Feb 24 - Kumba Iron Ore pays out cash and invests in Sishen mine after strong profits
South African miner Kumba Iron Ore reported a 40% jump in annual profit on Tuesday and declared a strong dividend payout, driven by a surge in prices of the steel-making raw material and a weaker rand exchange rate during the year. Majority shareholder Anglo American Plc will be a beneficiary of the strong dividend payout after Kumba reported headline earnings per share of 71.07 rand ($4.86) for the year ended December 2020, up from 50.88 rand a year earlier.

Feb 23 - Chilean miner Codelco says copper price spike will bolster war chest, raise costs
Chile's state-owned Codelco, the world's largest copper producer, views the recent spike in the price of the red metal as a "good opportunity" to generate cash for investments and hold down debt, but warned it could also drive up the miner's costs, a senior executive told Reuters on Monday. The price of copper shot above $9,000 a tonne for the first time on Monday since 2011, as a nascent global economic recovery has prompted demand to boom for the commodity, critical to global construction and manufacturing sectors.

Feb 23 - Wild ride as tin tips towards scarcity pricing: Andy Home
The bulls are running riot across industrial metals markets as investors bet on global COVID-19 recovery. Copper has grabbed the headlines by surging past $9,000 a tonne for the first time since 2011, but wildest of all is the tin market.

Feb 23 - Zambia achieves record high copper production in 2020, minister says

Zambia produced 882,061 tonnes of copper in 2020, up 10.8% from 796,430 tonnes produced in 2019, Mines Minister Richard Musukwa said on Tuesday, calling it a "historical high" for Africa's second-largest copper producer. Musukwa said Zambia aims to produce more than 900,000 tonnes of copper in 2021, and has a long-term goal of exceeding 1 million tonnes in annual production.

Feb 23 - Singapore freezes two firms' bank accounts after alleged nickel fraud
Singaporean authorities have frozen the local bank accounts of commodity trader Envy Global Trading Pte and Envy Asset Management Pte following an investigation into their nickel trading, Envy Global Trading said on Monday. The development follows a string of scandals involving Singapore trading firms that have shaken investor and banker confidence in the sector over the last year when some commodities, including nickel, have rallied strongly.

Feb 23 - Global nickel market sees larger surplus in December - INSG
The global nickel market surplus rose to 14,600 tonnes in December from an upwardly revised surplus of 7,400 tonnes in the previous month, data from the International Nickel Study Group (INSG) showed on Monday. Last year, the global market saw a surplus of 122,900 tonnes compared with a deficit of 32,200 tonnes in 2019, Lisbon-based INSG added.

Feb 23 - Former Australian PM Turnbull joins Fortescue's green unit
Former Australian Prime Minister Malcolm Turnbull has joined Fortescue Metals Group's new green energy development company as chairman of its Australian unit, the iron ore miner said on Tuesday. Turnbull, who served as prime minister from 2015 to 2018, will head Fortescue Future Industries (FFI)'s Australian subsidiary starting this month, Fortescue said in a statement.

Feb 23 - Philippines says 2020 nickel output up 3%, warns outlook uncertain

Philippine nickel output rose 3% last year even as the COVID-19 pandemic hampered some projects, government data showed, but the Mines and Geosciences Bureau warned that the outlook for its minerals industry this year remained uncertain. Nickel output in the world's biggest exporter of the material to top metal consumer China totalled 333,962 tonnes last year compared with 323,325 tonnes in 2019, government data showed.

Feb 23 - South Africa's Harmony Gold first-half profit soars; reinstates dividend
South Africa's Harmony Gold posted a more than three-fold rise in first-half profit and reinstated its dividend on Tuesday, following a surge in gold prices and the inclusion of the Mponeng mine into its portfolio. The Johannesburg-listed miner declared an interim dividend of 110 cents, reinstating it for the first time since 2017.

Feb 23 - South Africa's Kumba Iron Ore reports 40% jump in annual earnings
South African miner Kumba Iron Ore posted on Tuesday a 40% jump in annual profit and declared a strong dividend payout, driven by a surge in prices of the steel-making raw material and a weaker rand exchange rate during the year. The Anglo American plc subsidiary reported headline earnings per share of 71.07 rand ($4.86) for the year ended December 2020, up from 50.88 rand a year earlier.

Feb 23 - Albemarle says it regrets Chile's call for arbitration over lithium royalties
Albemarle Corp, the world's largest lithium producer, said on Monday it regretted Chile's decision to initiate international arbitration over the alleged underpayment by the U.S. company of royalties on its sales. State development agency Corfo filed before the International Chamber of Commerce (ICC) on Friday, claiming that around $15 million of $60 million in royalties were outstanding for 2020.

Feb 23 - Mexican president pressures Canadian miner in simmering tax dispute
Mexican President Andres Manuel Lopez Obrador on Monday urged a Canadian mining company in the country to pay outstanding taxes, saying it was hiding behind the threat of international litigation to shirk its obligations. Questioned at a news conference about the tax burden on mining firms in Mexico, Lopez Obrador said there were Canadian companies that met all their fiscal obligations.

Feb 23 - Peru presidential candidate fires warning to mining companies over copper
Peruvian presidential candidate Yohny Lescano, second in polls ahead of an April 11 election, fired a warning to mining companies on Monday, saying if elected he would look to make the state the ultimate owner of resources in the copper-rich Andean country. Lescano, in a conference with the foreign press, said that he would draw up a new register of where mining could take place and seek "equitable" prices for the country, which is the world's second-largest producer of copper.

Feb 23 - Sibanye-Stillwater to invest in European lithium company Keliber
Sibanye-Stillwater Ltd said on Tuesday it agreed to make investments into the European lithium company Keliber Oy, marking the South African miner's entry into the battery metals sector. Sibanye said it will make an initial phased equity investment of 30 million euros ($36.49 million) for about a 30% stake into Keliber, and a further 10 million euro equity issuance to be offered to the existing Keliber shareholders.

Feb 22 - Chile files arbitration suit against Albemarle over lithium royalties - newspaper
Chile has launched an arbitration process against U.S.-based miner Albemarle, the world's largest lithium producer, for allegedly underpaying royalties on its sales, the head of the state development office told a local newspaper on Sunday. Pablo Terrazas, head of Corfo which handles the lithium contracts, told daily El Mercurio that the office had filed the request on Friday with the International Chamber of Commerce, demanding around $15 million extra in payments for 2020.

Feb 22 - Time to forget tariffs and reset U.S. aluminium policy: Andy Home
The new United States administration seems in no rush to lift the aluminium and steel tariffs imposed by Donald Trump in 2018. Indeed, one of Joe Biden's first acts was to reverse Trump's final-hour lifting of tariffs on aluminium from the United Arab Emirates (UAE).

Feb 22 - Rio Tinto executives say goodbye to 2020 with chunky payouts
Three Rio Tinto executives forced to leave the company after the destruction of sacred rock shelters at Juukan Gorge in Western Australia all closed off the year with substantial payouts, Rio's annual report released on Monday showed. Chief Executive Jean-Sébastien Jacques, who stepped down from his role at the end of 2020, received total remuneration of 13.3 million pounds ($18.6 million) under Australian accounting rules, up from 7.1 million pounds a year earlier.

Feb 22 - China hikes half-year rare earth output quotas to record level
China on Friday hiked its rare earth output quotas for the first half of the year by more than 27% to record levels, potentially easing concerns of supply shortages after a spike in prices. China is the world's dominant producer of rare earths, a group of 17 minerals used in electric vehicles (EVs), consumer electronics and military equipment. 

Feb 22 - Strong metal prices help S.Africa's Amplats deliver higher annual profit 
South Africa's Anglo American Platinum Ltd (Amplats) on Monday posted a 63% jump in its annual profit, underpinned by higher metal prices and a weaker rand exchange rate. The Johannesburg-listed miner, one of the world's largest platinum producers, reported headline earnings per share (HEPS) for 2020 of 115.54 rand ($7.83), compared with 70.87 rand a year earlier.

Feb 22 - Japan crude steel output drops for 11th month in Jan on COVID-19 slump
Japan's crude steel output fell 3.9% in January from a year earlier, dropping for the eleventh consecutive month as the COVID-19 pandemic continued to dent demand, the Japan Iron and Steel Federation said on Monday. Output, which is not seasonally adjusted, declined to 7.92 million tonnes in the world's No.3 steel producer, but it increased 5.3% from December, marking a seventh straight month-on-month rise.

Feb 22 - AngloGold Ashanti boosts dividend five-fold on gold price surge
AngloGold Ashanti on Monday joined other global gold miners in boosting payouts to shareholders after reporting a leap in annual earnings following a 25% increase in gold prices last year. The miner declared a full-year dividend of 7.05 rand per share, more than five times the 2019 dividend when translated into U.S. cents, thanks to a weakening of the U.S. dollar against the rand last year.

Feb 22 - Shortages, shipping and stocks feed bullish tin narrative
Rapidly rising tin demand from electronics firms, together with supply and shipping disruptions and historically low inventories, are in the near term likely to buttress prices of the soldering metal that have shot up to nine-year highs. Tin prices on the London Metal Exchange are close to $25,550 a tonne, the highest since February 2012, after a gain of 24% so far this year. 

Feb 28 - Tokyo Steel to maintain product prices steady in March
Tokyo Steel Manufacturing Co Ltd will leave product prices unchanged in March to ensure a hike implemented in January would be absorbed by the market, Japan's top electric-arc furnace steelmaker said on Monday. For March, prices of its main H-shaped beams will stay steady at 93,000 yen ($880) a tonne while hot rolled coils will remain unchanged at 79,000 yen ($748) a tonne.

Feb 22 - Three people die in partial collapse of Nornickel's Arctic processing plant
Three workers died after a processing plant owned by Russian mining giant Norilsk Nickel in Arctic Siberia partially collapsed during maintenance, the company and officials said on Saturday, as the miner's shares fell by 3.6%. The Arctic environment and production security at Nornickel's assets have been in the spotlight since a major fuel leak at its power plant near the city of Norilsk and a list of smaller accidents in 2020.

Feb 19 - Rio Tinto willing to negotiate new Mongolia mine agreement - sources
Global miner Rio Tinto is willing to enter a new agreement with Mongolia to expand its Oyu Tolgoi mine as the government requested, two sources with direct knowledge told Reuters on Thursday, as both parties look to resolve an impasse over the multibillion-dollar project. Mongolia had sought agreement with Rio to cancel the deal underpinning the mine's underground expansion, saying rising costs and project delays had eroded expected benefits. 

Feb 19 - Golden quarter for miners Newmont, Barrick as high prices help profit beat
Newmont Corp and Barrick Gold Corp unveiled higher dividends as the world's top two gold producers share with investors the benefits of higher prices for the metal after trouncing Wall Street earnings estimates. A 25% surge in gold prices last year, supported by unprecedented stimulus measures, has offered miners a lifeline following production disruptions due to the COVID-19 pandemic.

Feb 19 - Swiss monthly gold exports to India hit highest since May 2019
Switzerland's monthly gold exports to India in January reached their highest since May 2019, though exports to China and Hong Kong remained at rock bottom, customs data showed on Thursday. India and China are the world's two biggest gold consumers. Demand for bullion plunged in both when the coronavirus struck last year but has bounced back in India much more quickly. 

Feb 19 - Brazil's Vale creates sustainability division
Brazilian iron ore miner Vale SA's board has voted to create an executive-level division focused exclusively on sustainability issues, the company said in a Thursday securities filing. The division will be headed by Maria Luiza de Oliveira Pinto e Paiva, who until this month has been head of sustainability at Brazilian pulpmaker Suzano SA since January 2019. She will join Vale next month.

Feb 19 - Biden to order review of U.S. reliance on overseas supply chains for semiconductors, rare earths - CNBC
U.S. President Joe Biden will direct his administration to conduct a review of key U.S. supply chains including semiconductors, high-capacity batteries, medical supplies and rare earth metals, CNBC on Thursday. The White House plans to review gaps in domestic manufacturing and supply chains that are dominated by or run through "nations that are or are likely to become unfriendly or unstable," the CNBC report added, citing a draft of an executive order seen by the portal.

Feb 19 - New Congo government should aid release of Kibali's $500 mln, Barrick CEO says
Barrick Gold Corp Chief Executive Mark Bristow said the group expected to get $500 million belonging to its Kibali gold mining joint venture out of Congo next month, adding that the advent of President Tshisekedi's new government should help. The gold miner has been in discussions with Democratic Republic of Congo over the money for more than a year. 

Feb 19 - Mitsui Bussan Commodities to offer metals hedging from Paris after Brexit
Mitsui Bussan Commodities will soon offer hedging services to its continental European clients involved in the metals industry from its Paris office, following Britain's departure from the European Union. Britain's financial sector no longer has unfettered access to the European Union after it left the EU single market on Dec. 31. The trade deal agreed with the EU does not cover financial services. 

Feb 19 - S.Africa's Harmony Gold flags higher HY earnings as bullion shines
South African miner Harmony Gold flagged on Friday a rise in interim earnings of as much as 219%, driven by higher gold prices, greater output and foreign exchange gains. Headline earnings per share for the six months ended December 2020 are expected to come within a range of 761 cents to 795 cents, or between 205% and 219%, a surge from 249 cents in the corresponding period a year ago. 

Feb 19 - Sundance Resources readies for arbitration over Congo Republic mine project
Australia's Sundance Resources Ltd said on Thursday it was advancing its plans to start international arbitration proceedings against Congo Republic after the African country cancelled its Nabeba iron ore project in December. Sundance, which delisted from the Australian Stock Exchange on Dec. 21, said arbitration proceedings would be conducted under International Chamber of Commerce rules, before a tribunal of three arbitrators in London.

Feb 19 - Australia's Pilbara Minerals half-year revenue soars as lithium market rebounds
Australia's Pilbara Minerals Ltd on Friday reported a more than 56% jump in half-year revenue and pointed to bullish market conditions for lithium as its loss narrowed from a year earlier. The lithium market looks set to break out of a three-year downturn, driven by an uptick in electric-vehicle (EV) demand from China that has helped support prices of minerals used to make EV batteries.

Feb 18 - Fortescue declares bumper dividend, but faces setback in green push
Fortescue Metals Group boosted its dividend payout on Thursday but a cost blowout at a key development project in Western Australia tarnished its ambitions to become a green energy powerhouse. The world's fourth-largest iron ore miner now sees costs at its Iron Bridge magnetite project at $3 billion, $400 million more than its previous estimate as it postponed the timing of first production to the second half of 2022 from the first half.

Feb 18 - Lithium producer Albemarle expects recovery in sales as results top estimates
Lithium miner Albemarle Corp reported a better-than-expected quarter on Wednesday after taking steps to cut costs to battle lower demand and said it sees higher volumes in the current year. After the coronavirus dented growth prospects last year, Albemarle and its peers like SQM are now expecting to cash in on surging demand for the battery metal lithium, critical to electric vehicles that have become massively popular amid climate change concerns. 

Feb 18 - Australia's South32 posts profit rise on rebound in commodities demand
Australian diversified miner South32 Ltd posted a slight increase in half-year profit on Thursday, and said a strong recovery in demand for key commodities outside China early this year has put the company on track for solid growth. "We are off to a strong start in 2021, as we continue to build on our recent operating performance," the company said.

Feb 18 - Governments from Mongolia to Mali seek to reopen mining deals
Some resource-rich developing countries are seeking to rewrite mining contracts and accelerate dividend payouts, which can take years to materialize under deals that experts said are tilted in companies' favor. Any move to renegotiate agreements will trigger pushback by miners wary of threats to their profit margins, experts said, and previous attempts have caused protracted disputes.

Feb 18 - Canada's Teck fourth-qtr adj profit soars on boost from copper business
Canadian miner Teck Resources posted a more than 11% jump in fourth-quarter adjusted profit on Thursday, buoyed by significant gains in its copper business as metal prices soared. Adjusted profit attributable to shareholders rose to C$248 million ($195.3 million), or 46 Canadian cents per share, in the three months ended Dec. 31, from C$223 million, or 40 Canadian cents per share, a year earlier.

Feb 18 - Thyssenkrupp ends talks with UK's Liberty on steel unit sale
German conglomerate Thyssenkrupp said on Wednesday it had ended talks to sell its steel division to Britain's Liberty Steel, citing differences over value and structure in a potential deal. Liberty Steel, which is led by commodities tycoon Sanjeev Gupta, last month submitted a firmed-up nonbinding bid for Thyssenkrupp's steel division, the continent's No. 2, which sources said included commitments to protect jobs and sites.

Feb 18 - South Africa's Sibanye-Stillwater profit rises as metals prices climb

South African miner Sibanye-Stillwater reported on Thursday a rise in 2020 earnings and reduced debt, helped by higher metals prices and output, and said it could now focus on how best to use its capital to serve stakeholders. High prices for metals extracted by Sibanye, including platinum, palladium and rhodium, boosted profits and helped the firm weather the impact of the COVID-19 pandemic.

Feb 18 - US judge dismisses aluminum antitrust claims
A U.S. judge on Wednesday narrowed a long-running antitrust case where aluminum purchasers accused Goldman Sachs, JPMorgan Chase and the mining company Glencore of conspiring to drive up the metal's price by reducing supply. U.S. District Judge Paul Engelmayer said many purchasers lacked standing to sue because they had bought aluminum primarily from smelters such as Alcoa and Rio Tinto Alcan rather than directly from the defendants, and thus did not qualify as "efficient enforcers" of antitrust laws.

Feb 18 - Eramet may sell Sandouville plant, Erasteel unit in restructuring

Eramet is considering divesting its Sandouville nickel plant and Erasteel alloys unit as part of a review of activities particularly affected by the pandemic, the French mining group's CEO said on Wednesday. The Sandouville processing facility in northern France suffered from the loss of higher-margin markets during the pandemic while Erasteel has been hit by a downturn in the automotive sector, CEO and chairwoman Christel Bories said.

Feb 18 - Egypt says deadline for latest mining bid round extended to May 15
Egypt has extended the deadline for participation in its latest bid round for mineral exploration to May 15, from March 15, the mineral resources authority said in a statement on Wednesday. The extension was due to the effects of the coronavirus pandemic and to give investors more time to come forward, the statement said.

Feb 18 - South Africa's Gold Fields earnings surge on strong gold prices
South African miner Gold Fields Ltd posted a more than four-fold jump in annual earnings on Thursday on the back of higher bullion prices and said it is preparing for substantial capital expenditure in 2021. Headline earnings per share for 2020 rose 315% to $0.83 from $0.20 a year earlier, driven by a surge in gold prices, which reached a record above $2,000 an ounce in August. 

Feb 18 - Six killed in fire at gold mine in eastern China
Six people were killed in a fire at a gold mine in eastern China's Shandong province, state media reported on Wednesday, with the local government announcing a new campaign to shut down unsafe facilities following recent accidents. The fire occurred at around 6 a.m. local time (2200 GMT on Tuesday) during maintenance at the Caojiawa gold mine in the city of Zhaoyuan, the official Xinhua news agency reported, citing local authorities.

Feb 18 - Three bodies found after stack collapses at ArcelorMittal S.Africa steelworks
The bodies of three workers were found overnight at ArcelorMittal South Africa's Vanderbijlpark Works, after the collapse of a coke battery stack at the steel plant the previous morning, the company said on Thursday. Africa's biggest steel producer, majority owned by Luxembourg-based ArcelorMittal SA, said a portion of the stack fell on to a control room where the three were working.

Feb 17 - Rio Tinto declares bumper dividend on sky-high iron ore, profit beat
Rio Tinto on Wednesday reported its best annual earnings since 2011 and declared a record final dividend, after iron ore prices surged on strong demand from top consumer China's aggressive investments in infrastructure. The global miner handed back a large part of that windfall to shareholders, as did peer BHP Group earlier this week, in what analysts and fund managers said was a strong result that beat expectations. 

Feb 17 - Is platinum's explosive rally the start of a bull run?
Platinum has broken out of more than a decade of price weakness to reach its highest since 2014, as investors anticipate that rising demand, including from the budding hydrogen industry, will surpass supply and support a lasting rally. Years of oversupply and weak demand for platinum, used by auto makers, industry and jewellers, dragged prices from $2,290 an ounce in 2008 to $558 last year. 

Feb 17 - Global copper smelting slides in January amid COVID-19 lockdowns
Global copper smelting activity fell in January, led by Europe and North America, as pandemic lockdowns dampened industrial activity, data from satellite surveillance of copper plants showed. Top producer China also dipped but from high levels, satellite service SAVANT and broker Marex Spectron said in a joint statement on Tuesday. 

Feb 17 - Russia's Nornickel 2020 profit sinks 39% as sets aside cash for fuel-spill fine
Russia's Norilsk Nickel said on Tuesday its net profit sank by 39% in 2020 after it set aside $2 billion to cover an environmental damage claim after a major fuel spill in the Arctic. Nornickel, the world's largest producer of palladium and a leading producer of nickel, has been fined $2 billion for the damage caused by the spill last year in the country's worst environmental disaster in the Arctic. The court's ruling is yet to come into force. 

Feb 17 - Funds grow wary as red-hot copper hits nine-year highs: Andy Home Copper's red-hot rally rolls on with London Metal Exchange (LME) three-month metal hitting $8,437 per tonne on Tuesday, its highest level since May 2012. Exchange stocks are low and LME time-spreads are tightening. Copper's micro dynamics are reinforcing the macro reflation trade that is lifting prices across the commodities spectrum.

Feb 17 - South Africa's Northam Platinum flags first-half earnings rise
South African miner Northam Platinum said on Tuesday it expected interim headline earnings to rise as much as 79% boosted by higher metals prices and increased output. The company said normalised headline earnings per share (HEPS) for the six months ending Dec. 31 were expected to be 623 to 660 cents ($0.4250-$0.4502), or between 68.6% to 78.6%, compared to 369.6 cents during the same period a year earlier.

Feb 17 - Ivanhoe's S.African unit to fund up to $420 mln for palladium, platinum mine
Canada-based Ivanhoe Mines said on Tuesday its South African unit has agreed to finance up to $420 million to start mining work on the company's Platreef palladium and platinum project. The subsidiary, Ivanplats, has signed with Orion Mine Finance for $300 million, while it has appointed Societe Generale and Nedbank to arrange for up to $120 million in loans, Ivanhoe said.

Feb 17 - Miner Eramet sees higher core earnings this year after pandemic hit
French mining group Eramet said on Tuesday it expected a rebound in core earnings this year after starting to recover in recent months from severe disruption caused by the COVID-19 pandemic. The company reported a net loss of 675 million euros ($817 million) for 2020, while earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 398 million euros against 630 million in 2019.

Feb 17 - Fire at east China gold mine kills two - state media
A fire that broke out at a gold mine in east China's Shandong province killed two people and left four others missing, state media reported on Wednesday. The fire occurred during an equipment maintenance at the Caojiawa gold mine in the city of Zhaoyuan, the Xinhua news agency reported.

Feb 16 - Gold, silver funds see biggest weekly outflows in three months
Gold and silver mutual funds and ETFs witnessed the biggest outflows in three months in the week ended Feb. 10 as investors put their money into soaring equities and high-yielding bond markets. Investors net sold $1.4 billion in precious metal funds in the week ended Feb. 10, according to weekly data available for 338 precious metal funds on Refinitiv Lipper. 

Feb 16 -BHP sees robust China demand, declares dividend bonanza
BHP Group on Tuesday reported its best first-half profit in seven years and declared a record interim dividend, as top metals user China's strong appetite for iron ore to support its infrastructure push kept prices elevated. China's reliance on commodity-intensive stimulus measures to sustain economic growth has sent prices of the steel making ingredient to multi-year highs, while the COVID-19 vaccination push has brightened outlook for global trade this year.

Feb 16 - Glencore reinstates dividend as 2020 net debt drops, trading earnings jump
Glencore on Tuesday reinstated its dividend after net debt fell by 10% last year, helped by surging commodity prices in the second half. The commodities trader and miner, which scrapped its dividend in August after a first-half loss amid the COVID-19 pandemic, said it is recommending a distribution of $0.12 per share, or a total payout of $1.6 billion. That compares to $2.6 billion announced last year before the payout was cancelled. 

Feb 16 - Fortescue COO, executives step down amid Iron Bridge review
Australia's Fortescue Metals Group Ltd said on Tuesday Chief Operating Officer Greg Lilleyman and two other executives have resigned as part of a review of its Iron Bridge Magnetite project in Western Australia. The $2.6 billion high-grade ore project, which is key to Fortescue's growth strategy, was on track to start exports in the first half of 2022, it said last month, after the Australian newspaper reported the project faced a cost blowout of as much as 25%.

Feb 16 - China explores rare earth export curbs to target U.S. defence industry – FT
China is looking into curbing the exports of rare earth minerals that are crucial to U.S. defence contractors such as Lockheed Martin Corp for the manufacture of sophisticated weaponry and F-35 fighter jets, the Financial Times reported on Tuesday. "The government wants to know if the U.S. may have trouble making F-35 fighter jets if China imposes an export ban," the FT said, quoting a Chinese government adviser.

Feb 16 - Kobe Steel's new technology brings 20% cut in blast furnace emissions of CO2
Japan's Kobe Steel Ltd has successfully demonstrated a new technology to reduce CO2 emissions from blast furnace operations by a fifth, as compared to the conventional approach, a company official said on Tuesday. Cutting carbon emissions from steelmaking is a key part of efforts to fight climate change and Japan's No.3 steelmaker sees the technology as a promising solution other manufacturers could adopt without large capital expenditure.

Feb 16 - British court rules against Sierra Leone in SL Mining jurisdiction case
Britain's High Court on Monday dismissed Sierra Leone's challenge of a 2020 International Chamber of Commerce (ICC) decision over claims by SL Mining after a dispute over its iron ore mining operations in the country. The miner, a subsidiary of U.S. commodity trader Gerald Group, filed for arbitration with the ICC in August 2019 and suspended its Marampa mine the following month.

Feb 16 - Ford joins global initiative to promote responsible mining
Ford Motor Co said on Monday it has joined the Initiative for Responsible Mining Assurance (IRMA), which aims to promote use of third-party assessments of mining practices to protect human rights. Ford said its planned investment in electric vehicles would increase the company's reliance on mined material, particularly related to production of EV batteries.

Feb 16 - Petra Diamonds raises doubt on ability to continue as a going concern
Miner Petra Diamonds raised doubts about its ability to continue as a going concern and warned that additional funding may be required if support from one of its creditors falls through. The company, which has been hit by weak diamond prices, said on Tuesday it was relying on the successful completion of its restructuring to continue as a going concern.

Feb 15 - Tight supply and hydrogen hopes drive iridium up 160%
Iridium has become the latest precious metal to undergo a spectacular price rally, after supply shortages and expectations it will be used to produce hydrogen to power a greener economy lifted its value by 160% in two months. The difficulty of raising output means prices could rise further, analysts said. 

Feb 15 - U.S. judge will not stop land transfer for Rio Tinto mine in Arizona
A federal judge on Friday said he would not stop the U.S. Forest Service from transferring government-owned land in Arizona to Rio Tinto Plc for its Resolution Copper project, denying a request from Native Americans who said the land has religious and cultural import. The judge's decision is likely to escalate the clash between members of Arizona's San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper, the red metal used to make electric vehicles and other electronics devices.

Feb 15 - Brazil's CSN Mineracao prices IPO at 8.50 reais per share
Brazil's CSN Mineração SA, the mining unit of steelmaker Cia Siderurgica Nacional, priced its initial public offering at 8.50 reais per share on Friday, at the bottom of a range set between 8.50 reais and 11.35 reais, the company said in a securities filing. The IPO will raise a total of 5.2 billion reais ($968 million), the filing said.

Feb 15 - Mitsubishi Materials completes Chile's Mantoverde copper stake deal
Japan's Mitsubishi Materials Corp said on Friday it had completed its purchase of a 30% stake in Chile's Mantoverde copper mine from Mantos Copper for $275 million, as the shift to a low carbon economy boosts demand for the metal. Japan's third-biggest copper smelter also said $520 million in project finance had been completed.

Feb 12 - Today is New Year for many Asians:

Happy Losar to Tibetan friends; Happy Tet to Vietnamese friends; Happy Seollal to Korean friends; and Happy Lunar New Year to Chinese friends. Wish you all a prosperous year 2021.

Feb 12 - Rio Tinto beefs up dispute resolution team for Guinean bauxite
Rio Tinto Ltd, said on Friday it has provided expertise to its Guinean partner to help settle a dispute with local communities over resettlement for a bauxite mine. Guinean villagers in communities around the mine filed a complaint in 2019 with International Finance Corp, a global development institution linked to the World Bank, alleging contraventions by miner Compagnie des Bauxites de Guinée SA (CBG) of its commitments around resettlement and pollution.

Feb 12 - China's 2020 refined nickel imports slump to 6-year low: Andy Home
China has bailed out the copper and aluminium markets by importing record amounts of the rest of the world's surplus metal.  Not so the nickel market, however.  Chinese imports of refined nickel fell by 32% year-on-year to 130,700 tonnes in 2020. It was the lowest annual total since 2014. 

Feb 12 - Aluminium maker Hydro beats profit forecast, eyes dividend boost 
Norwegian aluminium maker Norsk Hydro posted stronger than expected fourth-quarter operating profit on Friday and said it plans to pay out a larger share of its profit as dividends from 2021 onwards. Aluminium prices have risen more than 40% from the four-year lows hit last April and is trading at a little more than $2,000 a tonne, buoyed by hopes of a global recovery from the economic impact of the COVID-19 pandemic.

Feb 12 - Venezuela gold reserves drop to new five-decade low as withdrawals accelerate
The Venezuelan central bank's gold reserves dropped by about 12 tonnes in the last six months to a new 50-year low, according to its 2020 financial statements.  Facing a collapse in oil production and the effects of U.S. sanctions, President Nicolas Maduro's government has continued to use the sale of monetary gold as a source of income.

Feb 12 - Strong showing for Ecuador's Perez signals backlash against mining industry
Surprisingly strong support for Ecuadorean environmental presidential candidate Yaku Perez in Sunday's election shows the country's nascent mining industry faces growing backlash that could weaken its expansion plans. Perez, a lawyer and indigenous activist, won nearly 20% of the votes in last week's first-round presidential election on promises that he would call a referendum on prohibiting industrial mining in order to protect watersheds.

Feb 11 - Chile copper cathode shipments plagued by rough seas, shortage of containers
Rough seas and a shortage of containers have bogged down shipments of copper cathodes from Chile, the world's largest producer of the red metal, and may continue to slow exports, according to a senior mining executive and local industry analysts. In January, Chile's top copper shipping port at Mejillones was largely shuttered as ocean swells hammered docking facilities, making it impossible to load ships. Exports of copper concentrate and cathodes, and inputs such as sulfuric acid have all been affected, the sources said. 

Feb 11 - Platinum, palladium and rhodium in short supply –Johnson Matthey
Platinum, palladium and rhodium used by the auto industry to filter emissions from engine exhausts were all in short supply last year, data from specialist materials firm Johnson Matthey showed on Wednesday, as prices for the metals soared. Supply shortfalls have driven rapid price gains, with platinum trading at six-year highs and rhodium and palladium close to record levels. 

Feb 11 - Silver will outshine gold as demand hits 8-year high in 2021 - Silver Institute
Global demand for silver will rise to 1.025 billion ounces in 2021, its highest in eight years, as investors and industry ramp up purchases, the Silver Institute said on Wednesday, predicting that prices would rise.  The coronavirus outbreak triggered a rush among investors to stockpile silver, which like gold is traditionally seen as a safe place to store money. 

Feb 11 - Nickel pig iron producers eye up electric vehicle battery market
Producers of nickel pig iron (NPI) in Indonesia are looking at converting their material into an intermediate product that can be turned into nickel chemicals for the lucrative electric vehicle market. Nickel is a key component of the lithium-ion rechargeable batteries used to power electric vehicles, sales of which are expected to soar over coming years as the world moves towards a low carbon future.

Feb 11 - ArcelorMittal plans $1 bln cost savings, axeing 20% of office staff
ArcelorMittal, the world's largest steelmaker, plans to cut 20% of its office staff in a $1 billion cost-reduction plan, it said on Thursday after posting higher than expected fourth-quarter earnings and restored dividend payments. The Luxembourg-based company forecast 4.5-5.5% growth in steel demand this year and also announced that finance chief Aditya Mittal will take over as CEO from his father Lakshmi, who founded the company in 1976 and will become executive chairman.

Feb 11 - Possible impact of Myanmar coup on China's metal and rare earth supply
Myanmar's military coup and declaration of a state of emergency has sparked concern in neighbouring China over metal and mineral supplies amid already high tin, copper and rare earth prices.  Below is a description of trade flows from Myanmar to China, the world's top metals consumer, with comment from analysts and associations on the prospects of disruption.

Feb 11 - Miner Kinross Gold beats profit estimates on higher prices
Canadian miner Kinross Gold Corp beat analysts' estimates for quarterly profit on Wednesday as a surge in gold prices cushioned the blow from lower output.  Prices of the yellow metal surged 25% in 2020 as investors sought the safety of gold after the COVID-19 pandemic hammered the global economy. 

Feb 11 - India's January gold imports surge 72% y/y to 62 T – govt source
India's gold imports in January surged 72% from a year earlier, a government source said on Wednesday, as a correction in prices from a record high drew retail buyers and jewellers. The world's second-biggest consumer of the gold imported around 62 tonnes of it in January, up from 36.5 tonnes a year ago, the source said.

Feb 11 - Steel demand in EU plus UK seen rebounding by 13.3% in 2021, says Eurofer
Demand for steel in the European Union and Britain fell by 11.6% year on year in the third quarter of 2020 as the COVID-19 pandemic hit industrial activity but it is expected to bounce back this year, industry group Eurofer said on Wednesday. "2020 is likely to be one of the worst years on record, even if we will see positive figures in the fourth quarter," said Eurofer Director General Axel Eggert.

Feb 11 - Aurubis CEO upbeat on outlook, still seeks flat rolled unit sale 
Aurubis AG expects high metal prices and strong copper product demand this year, the CEO of Europe's largest copper producer said in a speech published on Wednesday. Aurubis also continues to seek a sale of its flat rolled products (FRP) division, CEO Roland Harings said in the speech, which was prepared for delivery at the company’s annual shareholder meeting on Thursday.

Feb 10 - Africa's miners and winemakers toast China's row with Australia 
Bottles of its reds, whites and roses piled up when South Africa banned alcohol sales under a strict lockdown and visitors who once flocked to the vineyard near Cape Town to sip wine and snap photos of its famed Indian Runner ducks vanished. That changed when Beijing slapped tariffs of up to 212% on Australian wine in November after Canberra led calls for an inquiry into the origins of the COVID-19 outbreak in Wuhan. It wasn't just wine. Beijing hit a range of Australian goods with punitive duties, created new layers of red tape and banned some Australian imports outright, giving African suppliers of anything from coal to beef to copper a boost.

Feb 10 - Vale invests in Boston Metal as seeks to curb emissions
Brazilian miner Vale SA said on Tuesday it paid $6 million for a minority stake in the Boston Electrometallurgical Company (Boston Metal), as part of its aim to cut climate-warming greenhouse gas emissions through new technology. Boston Metal was founded in 2012 by professors at the Massachusetts Institute of Technology and has developed a process called molten oxide electrolysis to convert iron ore into steel without creating carbon dioxide emissions, Vale said in a statement.

Feb 10 - BHP partners with JFE Steel to study cutting carbon from steel-making
BHP Group said on Wednesday it would invest up to $15 million over five years as part of a deal with Japan's JFE Steel to look at technologies and other ways to lower emissions from the steel-making process. BHP is the world's biggest listed miner and biggest coking coal producer. Combined with iron ore, also mined by BHP, coking coal is used to make steel, producing millions of tonnes of CO2.

Feb 10 - Scrap gap drives China's copper and aluminium import boom: Andy Home
China imported record amounts of refined copper and unwrought aluminium last year.  The country's manufacturing sector bounced back faster and stronger from COVID-19 lockdowns than anywhere else. Shanghai metal prices raced ahead of international prices over the middle of last year, opening up arbitrage windows and sucking in the rest of the world's surplus. 

Feb 10 - Thyssenkrupp raises annual outlook for first time since 2017 - Reuters
German conglomerate Thyssenkrupp on Wednesday raised its full-year outlook for the first time in nearly four years, boosted by a recovery at its steel unit that could strengthen the case for a spin-off. "In a continuing uncertain market environment, we had a good first quarter: we're noticing signs of an economic recovery and our measures to improve performance in the businesses are starting to bear fruit," CEO Martina Merz said.

Feb 10 - Colombia to auction mining areas with potential copper, gold - gov't
Mining companies interested in bidding for potential exploration and development permissions in Colombia should register from Feb. 11 for multiple rounds this year, the government said on Tuesday, as it continues efforts to diversify mineral output. The Andean country has long hailed its as-yet largely untapped deposits of gold and copper, among other minerals, as the future of its mining industry, especially as low global prices have battered coal. 

Feb 10 - Brazil miner CBMM seeks to sell 45,000 tons of niobium oxide by 2030
Brazilian mining company CBMM hopes to sell some 45,000 tons of niobium oxide by 2030, turbocharging growth from just 100 tons this year, targeting demand from electric vehicle makers, the company's vice president told Reuters on Tuesday.  Niobium oxide, a rare metal, can be used in production of batteries, a market expected to boom in the next few years, driven by demand for electric vehicle manufacturers. 

Feb 10 - Aluminium producer Norsk Hydro sued by Brazilian group over alleged pollution
Some 40,000 Brazilians are bringing a group-action lawsuit against Norwegian aluminium producer Norsk Hydro for what they say is toxic waste pollution the company is causing in northern Brazil.  The lawsuit is brought by a group of communities who live in the lower Amazon region in the Brazilian state of Para, mainly members of Cainquiama – the Amazon Association of Mixed Race, Indigenous and Quilombolas – representing some 11,000 families.

Feb 09 - Mongolia seeks more tax revenue from Rio copper mine expansion - source
Mongolia wants more tax revenue under a revised deal to expand Rio Tinto's Oyu Tolgoi copper-gold mine rather than a larger ownership stake in the project, a person with direct knowledge of the government's thinking told Reuters on Monday, as the two sides bid to resolve a long-running standoff over the development. On Sunday, the Financial Times reported Ulaanbaatar is seeking agreement with Rio to terminate a deal to expand the mine and replace it with a new pact that offers better terms.  

Feb 09 - Iron ore imports outside China show signs of recovery: Russell 
The iron ore market is focused mainly on developments in China, which isn't surprising given the world's biggest buyer of commodities takes about 70% of global seaborne cargoes.  But that other 30% does matter - and there are signs of a recovery in demand in the wake of the coronavirus pandemic

Feb 09 - Canada Nickel held talks with U.S. government on supplying metal for EV batteries
Junior miner Canada Nickel Co Ltd has held talks with U.S. government officials about potentially supplying nickel for electric car batteries, its chief executive said, amid mounting concern in Washington about China's dominance of global supply chains.  "It's become very clear that there's large portions of the periodic table for which the United States has no local source of supply," Canada Nickel chief executive Mark Selby said in an interview. He confirmed the talks but declined further comment.

Feb 09 - Russia's Rusal says aluminium demand healthy despite pandemic
Demand for aluminium is extending its recovery so far this year despite a second wave of COVID-19 lockdowns, an executive at Russian aluminium producer Rusal said on Monday. "Demand is still strong in many sectors, especially automotive, packaging, construction," Roman Andryushin, head of sales and marketing, said in an interview.

Feb 09 - Peru reports sharp drop in 2020 copper production due to pandemic
Peru's copper production plunged 12.5% to 2.15 million tonnes in 2020, the country's Energy and Mines Ministry said on Monday, driven down by coronavirus-related restrictions that hammered output in the world's second-largest producer of the red metal. The ministry said gold production also dipped 32% in 2020, to 87.3 million fine grams.

Feb 09 - Canadian province Alberta backs down on opening Rockies to coal mines
The Canadian province of Alberta on Monday reversed a decision that expanded access to the eastern slopes of the Rocky Mountains for open-pit coal mines, but the government allowed exploration for six coal projects to continue in the area.  Premier Jason Kenney's United Conservative Party government has faced a backlash from ranchers and other Albertans who feared mines would contaminate groundwater in the picturesque foothills, after revoking a policy last year that had limited access for coal miners. 

Feb 09 - WTO delays ruling on U.S. metal tariffs to second half of 2021 
The World Trade Organization has delayed until at least the second half of 2021 its ruling on metal tariffs imposed by the United States, giving President Joe Biden more time if he wishes to settle the disputes. The WTO panel handling challenges brought by China, the European Union, India, Norway, Russia, Switzerland and Turkey had previously said its final report would not be before autumn 2020, implying it would come after the U.S. presidential vote.

Feb 09 - Voters backed prohibition on mining in Ecuador city of Cuenca, mayor says
Voters in the Ecuadorean city of Cuenca backed a prohibition on mining activities in areas close to watersheds via a referendum held on Sunday, the mayor said on Monday, in a move that may spook foreign investment sought by the South American nation. The proposal, which was on the ballot for some 435,000 Cuenca residents during Sunday's presidential and legislative elections, asked if the city should block mining in areas near the rivers that cross through Cuenca.

Feb 09 - Japan's Sumitomo Metal lifts profit f'cast on higher metals prices
Japan's Sumitomo Metal Mining Co Ltd on Monday raised its annual net profit estimate by 70% for the year to March 31 thanks to higher copper and nickel prices as demand bounced back from the COVID-19 crisis. The company now predicts a net profit of 78 billion yen ($739 million) for the year, against its previous guidance of 46 billion yen. The revised forecast represents a 29% annual increase, compared with an expected fall of 24% previously. 

Feb 09 - Voestalpine reports first quarterly profit in over a year
Austrian speciality steelmaker Voestalpine reported its first quarterly profit in over a year on Tuesday as demand from automakers and engineering companies recovered and cost-cutting measures took effect. It posted a profit of 116.5 million euros ($140.7 million) for the fiscal third quarter through December following four consecutive quarters of losses. In the year-earlier period, its loss was 275.2 million euros.

Feb 09 - S. Africa's Impala Platinum sees earnings soar over 300%
South Africa's Impala Platinum Holdings Ltd on Tuesday said it expected half-year headline earnings to increase more than fourfold, buoyed by higher metals prices and a weaker rand during the pandemic. The platinum miner also said refined six-element (6E) platinum-group production for the six months ended Dec. 31, 2020, was expected to increase by 29% to 1.694 million ounces, helped by the inclusion of production from its Canadian unit. 

Feb 09 - AngloGold Ashanti forecasts earnings to almost triple as gold prices surge
South Africa's AngloGold Ashanti said on Tuesday it expected annual earnings to almost triple, boosted by a surge in gold prices during 2020 as investors rushed to buy the precious metal seen as a safe-haven asset in turbulent times. The gold miner expects to report a headline earnings per share between 229 cents and 247 cents for the year ended Dec. 31, 2020, compared with 91 cents reported a year earlier, it said.

Feb 08 - China's holiday-skipping factories give copper bullish start to Year of the Ox
Instead or increasing, as they usually do in the run up to the Lunar New Year, copper inventories in China have dropped to near decade lows on robust demand from factories that are maintaining high operating rates over the usually slow holiday period. Copper demand in China, the world's top metal consumer, typically softens as businesses close for the week-long Spring Festival, which starts on Feb. 11 and ushers in the Year of the Ox. 

Feb 08 - China aluminium sector must shut inefficient coal power to meet climate goals -report
China's aluminium sector must shut dedicated power capacity equivalent to more than Germany's entire coal fleet over the next decade to keep Beijing on track to meet its carbon pledges, climate think tank Ember says.  China accounts for more than half of global aluminium production, churning out 37 million tonnes in 2020. President Xi Jinping has vowed China will achieve peak emissions by 2030 and carbon neutrality before 2060.  

Feb 08 - Want to see a real short squeeze? Come to the tin market: Andy Home
Finding financial market shorts to squeeze is this year's investment rage.  After the Reddit assault on individual stocks, retail investors tried, unsuccessfully, to pull the same trick in the silver market. Commodity markets are tougher to crack than individual shares, particularly if there's no underlying shortage. Silver notched up consecutive years of oversupply between 2016 and 2019, according to the World Silver Institute. 

Feb 08 - India's coal imports rebound as Australia wins market share: Russell
India's coal imports have revived in recent months to close to pre-pandemic levels, but the market shares of the countries supplying cargoes has shifted, mainly as a result of China's dispute with Australia. India imported 17.56 million tonnes of thermal and coking coal in January, according to vessel-tracking and port data compiled by Refinitiv.

Feb 08 - Diamonds forecast to regain pre-pandemic sparkle in 2022-2024
Diamond jewellery demand will recover to pre-pandemic levels between 2022 and 2024, with China leading the way, a report commissioned by the Antwerp World Diamond Centre predicted. Demand recovery will diverge depending on lockdown policies, government support, and the extent to which retailers manage to shift sales online, said the report by consulting group Bain.

Feb 08 - Mongolia seeking pact with Rio Tinto to end copper mine expansion - FT
Mongolia's government is seeking an agreement from miner Rio Tinto to terminate a deal to expand the Oyu Tolgoi copper mine in the Gobi Desert, the Financial Times said, citing people with knowledge of the situation. The government has asked the Anglo-Australian mining giant whether it was prepared to mutually terminate the expansion plan, rather than acting unilaterally and risking future foreign investment, the FT reported.

Feb 08 - Nornickel fined $2 billion for massive fuel leak in the Arctic
Russian mining giant Norilsk Nickel was fined $2 billion on Friday for the damage caused by a huge fuel spill last year in the country's worst environmental disaster in the Arctic. The leakage in May of 21,000 tonnes of diesel into the rivers and subsoil near Norilsk in Siberia infuriated Russian President Vladimir Putin and the size of the penalty sent a message to Russian companies to clean up their act.

Feb 08 - Developer of Alaska's Pebble mine, ex-CEO served subpoenas
Northern Dynasty Minerals Ltd said on Friday that its wholly-owned Pebble Limited Partnership and the unit's former chief executive officer had been served with subpoenas. The subpoenas to produce documents is related to a grand jury investigation apparently involving recordings of private conversations regarding the Pebble mine project. 

Feb 08 - Reshuffle at Congo state miner further entrenches Tshisekedi's authority
Congo's state mining company Gecamines has replaced its secretary general and other senior positions, an internal memo showed, bolstering the influence of President Felix Tshisekedi at the expense of his predecessor Joseph Kabila. The reshuffle sidelines allies of Kabila, allowing Tshisekedi to exert more authority over the company that controls minority stakes in most of Congo's largest copper and cobalt projects.

Feb 08 - Nippon Steel trims annual loss f'cast on high export prices, demand pick-up 
Japan's top steelmaker Nippon Steel Corp on Friday trimmed its annual net loss estimate by nearly 30% as higher export prices and recovering demand from automakers and other manufacturers led to a sharp rebound in steel earnings. "A jump in our export prices to Southeast Asia and other areas bolstered our margins," Nippon Steel Executive Vice President Katsuhiro Miyamoto told a news conference.

Feb 05 - Rio Tinto issues mea culpa over Indigenous leadership upset
Global miner Rio Tinto Ltd said on Friday it should have better communicated to an Australian Aboriginal group whose ancient rockshelters it destroyed of a leadership change that affected efforts to mend their relationship. The destruction last year of the 46,000-year-old Juukan Gorge rock shelters, while legal, sparked a public and investor uproar that led to the resignation of then CEO Jean-Sebastien Jacques and two deputies. 

Feb 05 - Brazil's Vale agrees to $7 bln Brumadinho disaster settlement
Brazilian miner Vale SA said on Thursday it has reached a 37.7 billion real ($7 billion) agreement with prosecutors and the state of Minas Gerais to settle claims stemming from the collapse of a mining dam in 2019 which killed 270 people. In a securities filing, Vale said it would book a further 19.8 billion reais related to the agreement this year.

Feb 05 - Australia's Northern Territory state bans seabed mining
Australia's Northern Territory declared a ban on seabed mining in its coastal waters on Friday, citing the potential impact on the environment, sacred Indigenous sites and marine industries. The moratorium, which affects 17.5% of Australia's vast marine territory along its northern coastline, comes as soaring prices for metals like copper renew interest in new methods of resource extraction.

Feb 05 - Tsingshan to finance bulk of $2.8 bln Indonesia copper smelter with Freeport – official
Freeport-McMoRan Inc may only have to finance 7.5% of the $2.8 billion dollar copper smelter it is building with China's Tsingshan Holding group in Indonesia's Weda Bay, a senior government official said on Friday. Indonesia announced on Wednesday that Tsingshan and Freeport were close to reaching the $2.8 billion deal. 

Feb 05 - Canada's Trudeau eyes 'leaps forward' in integration with U.S. on EVs, critical minerals
Canada and the United States can collaborate more closely on manufacturing electric vehicles and on supplying critical minerals needed to make batteries for cars and other clean technologies, Prime Minister Justin Trudeau said on Thursday. "The integration of our economies, of our supply chains ... I think gives a real opportunity for us to really take some leaps forward," Trudeau said in a telephone interview. 

Feb 05 - China Baowu unit signs agreement on metal recycling supply chain project
A unit of top steel producer China Baowu Steel Group has reached an agreement with a partner to jointly invest in a supply chain system integrating metal recycling, examination, storage, processing and delivery, it said on Friday. Ouyeel Blockchain Finance and Metal Recycling Resources, the Baowu unit, said in a statement on its official WeChat account that it will build the metal recycling system with partner Yichang Yimei in central Hubei province. 

Feb 05 - China's Shenzhen unveils ambition to become gold finance hub
The Chinese city of Shenzhen on Thursday unveiled measures to turn its jewellery-filled Luohu district into a gold-based financial hub with links to neighbouring Hong Kong, Shanghai and even London. Under the 24-point plan released by the Shenzhen Municipal Financial Regulatory Bureau, financial institutions will be encouraged to launch innovative investment products linked to gold, including gold-backed wealth management products and gold exchange-traded funds. 

Feb 05 - Liberty Steel's funding plan for Thyssenkrupp lacks clarity - IG Metall
A bid by Britain's Liberty Steel for the steel division of Germany's Thyssenkrupp still lacks clarity on financing, a leader for the powerful IG Metall union said. "Liberty has an idea. But it is unclear how it will be funded," IG Metall's North Rhine-Westphalian regional leader Knut Giesler told Reuters ahead of Thyssenkrupp's annual general meeting on Friday.

Feb 05 - China's Easpring to buy nickel, cobalt chemicals from Lygend project in Indonesia
China's Beijing Easpring Material Technology Co, a supplier of materials for lithium-ion batteries, has signed an eight-year deal to buy nickel and cobalt sulphate from compatriot Lygend Mining's smelting project in Indonesia. A joint venture between Lygend and Indonesia's Harita Group which is building a high-pressure acid leach (HPAL) project on Obi island will supply Easpring with 5,400-18,630 tonnes per year of nickel raw materials´╝îon a metal content basis, from 2021, Easpring said in a stock exchange filing on Thursday.

Feb 04 - Brazil's Vale seeks to draw line under rocky two years
Brazil's Vale SA said on Wednesday a multi-billion-dollar deal with authorities may be imminent and production may rebound this year, as the iron ore miner seeks to draw a line under two years dogged by sluggish production and complex legal negotiations. A dam containing mining waste burst in January 2019 at a Vale facility in the town of Brumadinho in Brazil's Minas Gerais state, releasing a torrent of sludge that killed some 270 people.

Feb 04 - Gold may get China, India physical demand boost as ETF spike fades: Russell
With all the excitement in silver in recent days as retail investors rushed to buy, the status of the gold market may have been overlooked, though it could be argued that the yellow metal faces a more interesting 2021. There are several ways of looking at spot gold's recent performance, ranging from the view that it had a stellar 2020 to disappointment that it hasn't maintained its rally and the price has stagnated in recent months.

Feb 04 - Rio Tinto board could face pressure on Indigenous broken promise claim
Rio Tinto chairman Simon Thompson is set to face further pressure over the board's handling of the destruction of sacred rock shelters in Australia after an Indigenous group accused him of breaking a personal promise, analysts said. The traditional owners of the rock shelters said Thompson had told them Rio's acting head of iron ore, Ivan Vella, who had led reconciliation efforts, would see the process through to its end, The Australian newspaper reported on Thursday, citing a letter to Rio from the traditional owners.

Feb 04 - Brazil's Vale eyes 2021 rebound after production comes in at bottom of range
Brazilian iron ore miner Vale SA predicted on Wednesday a strong ramp up in production in 2021 as well as improved sales, after 2020 production figures came in at the bottom end of its target range. In a securities filing, Vale said it produced 300.4 million tonnes of iron ore in 2020. That was down 0.5% from the previous year, and came in at the longer range of its guidance of 300 to 305 million tonnes. That guidance was itself the result of a downward revision in December.

Feb 04 - Populist crowd fails to breach the silver fortress for now: Andy Home
Robinhood's army of small retail investors may have failed to storm the silver market, but the online broker's devotees certainly gave it an almighty shake. The spot silver price surged by 20% between last Thursday and Monday this week, briefly hitting an eight-year high of $30.03 an ounce. 

Feb 04 - Ex-China copper demand climbs, moves centre stage
Soaring sales of consumer goods such as washing machines, fridges, freezers and cars in the world outside China are expected to invigorate copper consumption and create shortages later this year. For years now, copper prices have fluctuated with demand in top consumer China. But this year, consumption elsewhere such as in Western European countries will also be important.

Feb 04 - Perth Mint's Jan silver coin sales soar on retail mania
Australia's Perth Mint said on Thursday its January silver coin sales jumped 23.5% from the previous month, boosted by a robust demand for the white metal spurred by a social media-led buying spree that commenced towards the end of the month. The refiner sold more than 1.1 million troy ounces of silver last month, its highest since October, it said in a blog post.

Feb 04 - Indonesia minister says Freeport, Tsingshan finalising $2.8 bln copper smelter deal
Freeport-McMoRan Inc is close to reaching a $2.8 billion deal with China's Tsingshan Holding Group to build a copper smelter in Indonesia's Weda Bay, senior minister Luhut Pandjaitan said on Wednesday. "The smelter will produce copper pipes and wires of which output can be worth $10 billion or more," Luhut told IDX Channel, without specifying a timeline of the estimated output scale.

Feb 04 - Mexican steel magnate back from Spain to face graft accusations
The chairman of a leading Mexican steelmaker arrived back in his homeland from Spain on Wednesday afternoon to face corruption charges, Mexican officials said. Alonso Ancira, chairman of the board at Altos Hornos de Mexico (AHMSA), was detained in Spain in 2019 as the Mexican government probed allegations of corruption within state oil company Petroleos Mexicanos (Pemex). 

Feb 04 - Botswana looks to coal to curb diamond dependency
Botswana must diversify into commodities such as coal and base metals as a matter of urgency, after a difficult year for diamonds sapped government revenue, Botswana's President Mokgweetsi Masisi said on Wednesday. The COVID-19 pandemic aggravated weakness in the diamond sector, which accounts for 80% of Botswana's export earnings.

Feb 04 - Mercuria's chief China concentrates trader leaves in base metal cuts
Commodity trading giant Mercuria's head of metal concentrates trading for China is to leave the firm as it continues to trim its base metals headcount in the world's biggest metals market. Elly Shentu, who has been in the role at Mercuria's Shanghai office for more than seven years, said she is on gardening leave -- or not working during her notice period -- until the end of March before her official departure but declined to comment further

Feb 04 - Finnish steelmaker Outokumpu posts profit rise on demand recovery
Finnish steelmaker Outokumpu's fourth-quarter core operating profit grew 7% year on year as recovering demand for stainless steel outweighed a drop in prices, it said on Thursday. The company forecast a rise in deliveries and profit in the first quarter of this year from the previous three months.

Feb 04 - Miner KAZ gets raised bid of 3.69 bln pounds from chairman-led Nova Resources
Nova Resources said on Thursday it has raised its bid for copper miner KAZ Minerals Plc to 780 pence, valuing the firm at 3.69 billion pounds ($5.02 billion), after some minority shareholders rejected the earlier proposal for being too less. KAZ Chairman Oleg Novachuk-led Nova Resources said the new offer, 140 pence higher than the previous one, has won the unanimous recommendation of UK-listed KAZ's independent committee.

Feb 03 - One billion ounces of silver traded in London on Monday as prices surged - LBMA
The amount of silver traded in the London market surged to 1.006 billion ounces on Monday, triple the level typical in recent months, as prices rocketed to their highest since 2013, the London Bullion Market Association said on Tuesday. Small investors flooded into the silver market in recent days, answering calls on Reddit and other social media to buy massive amounts of metal to push up prices. 

Feb 03 - Albemarle shares slip on $1.3 billion stock offering
Albemarle Corp shares slipped 1.5% in extended trading on Tuesday after the world's largest producer of lithium launched a $1.3 billion share offering to fund its growth plans and pay down debt. The company last month said it expects demand for the white metal used in electric vehicle (EV) batteries to grow four-fold in the next five years, given a satisfactory recovery in prices. 

Feb 03 - Chile's Codelco, top miners see production plunge in December
Chilean state copper giant Codelco saw its production of the red metal plunge in December, while other top mines in Chile also saw output drop off, government figures released on Tuesday showed. The national copper commission Cochilco said that output at Codelco, the world's largest copper miner, fell 16% year-on-year to 157,800 tonnes for the month. 

Feb 03 - Gold, silver coin demand surging, straining U.S. Mint's capacity
The United States Mint said on Tuesday it was unable to meet surging demand for its gold and silver bullion coins in 2020 and through January, due partly to pandemic-driven demand and plant capacity issues. Sales of U.S. gold bullion coins rose 258% in 2020 while silver coin demand was up 28%, the U.S. Mint said Tuesday. 

Feb 03 - USA Rare Earth to explore public offering at value above $1 billion
USA Rare Earth LLC has hired bankers to explore going public in a deal that could value the strategic minerals company at more than $1 billion, according to a source familiar with the matter and documents seen by Reuters. The company, which is developing the Round Top rare earths deposit in Texas, is considering an initial public offering (IPO) or going public via a special purpose acquisition company (SPAC), though it does not plan to issue debt, according to the source and documents.

Feb 03 - Glencore's 2020 output hit by Congo mine closure, sticks to targets
Glencore said on Wednesday copper and cobalt production fell in 2020 after the closure of its Mutanda mine in Democratic Republic of Congo mine but said the ramp up of another mine in the country was progressing well. The London-listed company, which also mines coal, nickel, silver and zinc, stuck to all of its production targets for 2021, after trimming coal guidance in October. 

Feb 03 - Freeport names veteran CEO Richard Adkerson as chairman, reinstates dividend
Freeport-McMoRan Inc named long-time Chief Executive Officer Richard Adkerson as chairman of the board, the U.S. miner said on Tuesday. Adkerson, 74 and CEO since 2003, said he has no plans to retire and is healthy. 

Feb 03 - New Caledonia's government collapses over independence, nickel unrest
A coalition government in New Caledonia, a French territory in the Pacific, collapsed on Tuesday after pro-independence politicians resigned, citing persistent economic issues and unrest over the sale of nickel assets. The South Pacific archipelago, 1,200 km (750 miles) east of Australia, has been gripped by riots over the sale process of Brazilian mining giant Vale's local nickel business, with protesters saying a locally led offer had been unfairly overlooked. 

Feb 03 - Samarco dam claimants to take BHP class action to English Court of Appeal
Lawyers for about 200,000 Brazilian claimants, whose multi-billion dollar lawsuit against Anglo-Australian miner BHP over a 2015 dam collapse was struck down last November, said on Tuesday they will petition the English Court of Appeal to review the case. "This is a challenging case for the courts, but we are optimistic that we can establish jurisdiction in England and see justice done for our clients," said Tom Goodhead, managing partner at PGMBM, which is representing the claimants.

Feb 03 - Consortium likely to raise bid for KAZ Minerals - sources
The consortium bidding to take copper miner KAZ Minerals private is expected to increase its offer by around 10-15% but is unlikely to get minority shareholders on board, sources close to the matter said. The group led by KAZ chairman Oleg Novachuk made a 1.8 billion pound ($2.46 billion) all-cash offer in October for the 61% of the mining company's shares it doesn't already own. 

Feb 03 - Brazil's Bahia Mineracao starts production at iron ore mine – CEO
Brazilian miner Bahia Mineracao, a subsidiary of Kazakhstan's Eurasian Resources Group, started production at a mine in northeastern Brazil with expected 2021 output of 1 million tonnes of iron ore, its chief executive said on Tuesday. Bahia Mineracao plans to double output at the Pedra de Ferro mine in Bahia state to 2 million tonnes of iron ore by next year, CEO Eduardo Ledsham said in an interview.

Feb 02 - Retail investors turn attention to silver as GameStop shares retreat
A social media-driven buying spree lifted silver to an eight-year high on Monday, though prices later pared gains on doubts about the ability of retail traders that have been focused on stocks to sway prices in the bigger, more liquid commodity. Silver prices climbed to an eight-year peak of just over $30 an ounce before cooling off a little to trade up 6.3% at $28.70. 

Feb 02 - China starts 2021 with robust imports of major commodities: Russell
China's imports of major commodities are expected to show strong growth in January data, a reflection more of short-term factors, however, that are topping off a solid economic underpinning. Imports of crude oil, iron ore and coal are all expected to show gains from prior months, while liquefied natural gas (LNG) will hold near December's record high. 

Feb 02 - Hedge funds bet rally in Canadian silver-mining stocks to run out of steam
Hedge funds have raised their bets against Canadian silver-mining stocks, January short-selling data from a market regulator showed, while the miners' shares and silver itself rose sharply due to buying by retail investors. A social media-driven buying spree lifted silver to an eight-year high on Monday, spurred by posts on the same Reddit message board behind last week's frenzied buying of GameStop Corp and other shares. 

Feb 02 - Silver dealers scramble to find supplies for retail buyers
A retail investment frenzy in silver driven by social media has left dealers from the United States to Singapore scrambling for bars and coins to meet demand. Silver prices extended their rally on Monday to an eight-year high as small investors answered calls on social media last week to buy the metal to push up prices. Retail investors cannot directly access the wholesale silver market, so instead they have bought into bars and coins. 

Feb 02 - Buying into 'poor man's gold', Chinese investors jump on silver
Chinese investors rushed into silver investments on Monday, pushing up Shanghai silver prices while boosting performances of related stocks and funds, matching calls by global retail investors to boost prices of the precious metal. Retail traders on Reddit and other social media who caused a rally in share prices of U.S. video game retailer GameStop Corp have now turned their attention to silver, leading Chinese investors to also jump on the bandwagon. 

Feb 02 - Africa's pandemic-hit mining sector faces exploration challenge
Travel restrictions, supply chain disruptions and risk aversion since the start of the COVID-19 pandemic have slammed the brakes on mining exploration in Africa, jeopardising the minerals supply pipeline. Inward investment will be a key focus at the annual Investing in African Mining Indaba virtual conference to be held on Tuesday and Wednesday, with companies looking to capitalise on higher metals prices and the transition to green energy.

Feb 02 - Reddit is coming for silver. A short squeeze? Unlikely
Silver prices have rocketed to their highest since 2013 as retail investors, egged on by messages on Reddit, pile into the market in an attempt to push up prices, although most analysts and traders say the rally will run out of steam. Spot silver vaulted as high as $30.03 an ounce on Monday from $25 on Thursday morning, while shares of silver miners surged and retailers of bars and coins around the world struggled to meet demand. 

Feb 02 - Base metals analysts turn cautious after stellar rally: Andy Home
Put the champagne back on the ice. After a super-charged rally over the second half of 2020 base metals may struggle to notch up further price gains in the short term. While the demand recovery is expected to spread from China to the rest of the world this year, analysts participating in last week's Reuters base metals poll were cautious, expecting high inventories and rising supply to keep a lid on prices. 

Feb 02 - Biden to keep tariffs on aluminum imports from UAE, reversing Trump
U.S. President Joe Biden will maintain a tariff of 10% on aluminum imports from the United Arab Emirates, reversing Donald Trump's move to end the levies on his last day as president, the White House said on Monday. The Republican president had announced on Jan. 20 that he would exempt the UAE from the tariff on most aluminum imports, saying the two countries had reached a quota agreement that would restrict them. 

Feb 02 - Pentagon awards $30 mln in rare earths funding to Australia's Lynas
The U.S. Department of Defense on Monday said it has awarded $30.4 million to Australia's Lynas Rare Earths Ltd to build a Texas facility for processing specialized minerals used to make weapons, electronics and other goods. China is the world's largest producer of rare earth minerals and has threatened to stop their export to the United States, fueling a push inside the U.S. government to boost domestic production. 

Feb 02 - Platts launches daily China copper TC/RC assessment
Commodity pricing provider S&P Global Platts launched on Monday a daily assessment of spot treatment and refining charges (TC/RCs) for clean copper concentrate supply to top metals consumer China, in a bid to help make the trade more transparent. Miners or traders pay smelters TC/RCs to process concentrate into refined metal, offsetting the cost of the ore itself.

Feb 02 - Thyssenkrupp CEO says Liberty Steel bid needs clarification
A bid which Britain's Liberty Steel submitted for Thyssenkrupp's steel division in January must be clarified in ongoing talks between the two firms, the German group's chief executive said. The bid still contains "a number of complex aspects that require further clarification", Martina Merz said in a speech prepared for the group's annual general meeting scheduled for Feb. 5. "We are in discussions with Liberty Steel to this end."

Feb 02 - Zambian court denies Vedanta attempt to halt Konkola Copper Mines split
A Zambian court on Monday dismissed a motion by miner Vedanta Resources' seeking to stop a state-appointed provisional liquidator from splitting up its Konkola Copper Mines (KCM) unit and selling the assets. The ruling is a blow to the Indian-owned mining company, which has said it would fight any attempt by Zambia to sell KCM to third parties. 

Feb 02 - Greece gets six non-binding bids for nickel smelting plant
Greece has received six initial bids for the lease of a smelting plant operated by debt-laden Larco, one the world's biggest nicker producers, the country's privatisation agency HRADF said on Monday. The deadline for the submission of non-binding bids for the Larymna smelting plant and related mining rights expired at 1500 GMT on Monday.

Feb 01 - Silver catches GameStop retail frenzy, prices soar
Silver prices surged to a five-month high on Monday, silver-mining stocks leapt and coin-selling websites were swamped as small-time investors piled in to the metal, the latest focus of a retail-trading frenzy that has set financial markets on edge. Organised in online forums and traded with fee-free brokers, such as Robinhood, the phenomenon has driven a 1500% rally in the shares of videogame retailer GameStop as the crowd targets assets that big fund managers had bet against. 

Feb 01 - Iron ore dilemma: Will China actually cut steel output?: Russell
China's vast steel sector, and the iron ore industry feeding it, is grappling with a seemingly contradictory policy impulse that it should produce less this year, even as demand remains strong amid post-pandemic stimulus spending. China produced a record 1.05 billion tonnes of steel in 2020, helping to drive spot iron ore prices to a one-year peak of $175.40 a tonne on Dec. 21. Over the year, prices rose 75%. 

Feb 01 - China copper premiums spike as swell disrupts supply from Chile
Premiums for imports of copper into China have jumped to their highest in more than five months as rising waves cause disruption to shipments from top producer Chile. The northern port of Angamos, which handles cathode exports for state-run copper producer Codelco, has been closed for most of January due to a sea swell, affecting a significant amount of shipments, two sources with knowledge of the matter said, declining to be identified due to the sensitivity of the matter.

Feb 01 - Lithium price bust turns to boom as electric vehicle sales soar
Lithium prices in China had their strongest month in more than five years in January and are set to climb further as demand from booming electric vehicle (EV) sales begins to outstrip supply. Spot prices for lithium carbonate, used in rechargeable batteries that power EVs, soared 37% in China this month, the most since December 2015. 

Feb 01 - China 2020 gold consumption drops due to COVID-19, says industry association
China's gold consumption fell by almost a fifth in 2020, the China Gold Association said on Monday, as the coronavirus outbreak choked gold processing and dented retail consumption. China gold consumption in 2020 fell 18.13% from a year ago to 820.98 tonnes, the association said on its website, with the consumption of jewellery down 27.45% at 490.58 tonnes and industrial and other gold consumption 16.81% lower at 83.81 tonnes. 

Feb 01 - China's Kingho ships first batch of iron ore from Sierra Leone's Tonkolili mine
A ship carrying iron ore from west Africa's Tonkolili mine set sail for China from the Port of Pepel in Sierra Leone on Friday, China's official Xinhua news agency said. The shipment was the first export from the mine since Chinese firm Kingho Investment Co Ltd took over the project, Xinhua said. The report did not detail the size of the shipment.

Feb 01 - Tianqi Lithium controlling shareholder to get up to $2.5 bln investment
Tianqi Lithium on Friday said an unnamed entity would invest up to 16 billion yuan ($2.5 billion) in its controlling shareholder as the Chinese company continues to look for ways to pay down debt. Tianqi, one of the world's biggest producers of lithium chemicals used in electric vehicle batteries, was handed a debt lifeline in December when it secured a $1.9 billion investment in its Australian operations from IGO Ltd.

Feb 01 - Kyrgyzstan bans foreign companies from future mining projects
Kyrgyzstan on Friday banned foreign companies from future large mining projects, although existing licences are unaffected, in the first major order by its new president. The economy of the Central Asian nation relies heavily on gold mining, particularly after two other sources of wealth - trade with neighbouring China and remittances from migrant labourers working in Russia - were hit by the COVID-19 pandemic.

Feb 01 - Uganda's tungsten miner files competition case against International Tin Association
The owner of Uganda's only tungsten mine has filed a claim against the International Tin Association (ITA) over alleged anti-competitive behaviour, a claim summary published by Britain's Competition and Appeal Tribunal shows. Kerilee Investments Limited, the British majority shareholder in Uganda-based KI3R, which owns the Nyamuliro tungsten mine, says the ITA refused it membership of its conflict mineral due diligence programme "without due process or justifiable reason".