Base & Precious Metals News

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,on 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".

Jan 29 - China's Shandong ramps up industrial safety checks after gold mine blast
China's northeastern province of Shandong plans to launch inspections of key industrial sectors in a bid to uncover safety risks after a gold mine explosion killed at least ten miners, state-backed media said on Friday. The inspections by emergency management authorities of the coastal province will run until June 30, spotlighting sectors such as non-coal mines, hazardous chemicals, fireworks and metallurgy, media said. 

Jan 29 - Swiss gold exports fell to record low in 2020 as pandemic upended trade 
A collapse in shipments to China and India, whose vast jewellery markets were partially shut by the coronavirus, drove Swiss exports of gold in 2020 to the lowest since at least 2012, customs data showed on Thursday. India's demand for gold recovered strongly as the year ended, but China, once the biggest buyer, recieved no gold at all from Switzerland for the third straight month in December. 

Jan 29 - London Metal Exchange stocks shock sends zinc price reeling: Andy Home
Zinc bulls have just received a reality check. London Metal Exchange (LME) stocks of the galvanising metal surged to a three-year high of 294,500 tonnes this week thanks to the "arrival" of 106,000 tonnes in the space of just two days. 

Jan 29 - Turquoise Hill seeks interim order in funding spat with Rio for Mongolia mine 
Canada's Turquoise Hill Resources Ltd said on Thursday it has sought an interim order in its arbitration against Rio Tinto, saying the majority shareholder's actions limit Turquoise's funding options for the Oyu Tolgoi project. Oyu Tolgoi is one of the world's largest-known copper and gold deposits, located in the South Gobi region of Mongolia, in which the Mongolian government holds a 34% stake.

Jan 29 - Chile increases estimate of 2021 average copper price to $3.3 per pound – Cochilco
The state-run Chilean Copper Commission (Cochilco) said on Thursday that it had raised its projection for the price of copper for this year to $3.30 per pound amid progress in vaccination campaigns against COVID-19 as well as good prospects for the Chinese economy. In November, Colchilco forecast a price of $2.90 for 2021.

Jan 29 - Non-energy commodity prices rise at fastest rate since 2011: Kemp
Commodity prices are rising rapidly as the manufacturing side of the global economy bounces back from the first wave of the coronavirus epidemic and lockdowns last year. By November, global manufacturing activity had recovered all of its pandemic-related losses and merchandise trade volumes were more than 1% higher than prior-year levels. In contrast, much of the service sector across North America, Europe and even Asia remained closed.

Jan 29 - South Africa's mining industry prepares for $20 mln COVID-19 vaccine rollout effort
South Africa's mining industry estimates it will cost around 300 million rand ($20 million) to help the government roll out COVID-19 vaccines to mineworkers and community members as the country battles a surge in infections, the industry body told Reuters on Thursday. The Minerals Council, which represents mining firms, offered its financial and logistical assistance after the government called on the private sector to help with the rollout of vaccines, the first of which are set to arrive on Monday.

Jan 29 - Copper giant Peru says mining allowed during new coronavirus lockdown
Peru, heading into a new lockdown to stem a rising wave of COVID-19 infections, will allow key industries such as mining to continue, a boost for copper miners in the world's second-largest producer of the metal. Large swathes of Peru, including capital Lima, will return to strict restrictions on movement and activity from Sunday for a two-week lockdown period. 

Jan 29 - Brazil mining agency to hire more inspectors, allowing annual checks on all tailings dams
Brazil's National Mining Agency (ANM) is set to hire 40 more safety inspectors, to more than double the total number of inspectors, allowing it to check all the country's tailings dams annually, the agency's director told Reuters on Thursday. A 2019 disaster at iron ore miner Vale's Brumadinho dam - the second fatal collapse at a Vale-affiliated facility in four years - alerted the mining industry and investors to the dangers of thousands of tailings dams around the world, many of which are in disrepair.

Jan 29 - Cash melting 'like butter': Thyssenkrupp investors demand action
Thyssenkrupp must swiftly cut ties to its ailing steel division in order to stop losses and rid itself of investments and liabilities it can't afford, two of its shareholders said a week ahead of the group's annual general meeting. Thyssenkrupp is in discussions to sell its steel business to Britain's Liberty Steel, potentially putting one of Germany's most iconic businesses in foreign hands. Sources say it is also examining a spin-off of the business and wants to decide in March whether to divest or keep it.

Jan 29 - Sweden's SSAB exits deal talk with Tata Steel Netherlands
Swedish steelmaker SSAB said on Friday it had concluded talks concerning a potential acquisition of Tata Steel's IJmuiden steel mill and related downstream assets, and decided not to move forward. SSAB confirmed in November it was in talks over a potential acquisition of Tata Steel's Dutch assets, but such a deal, a major undertaking for the Swedish steelmaker, had raised concerns among some SSAB investors and analysts. 

Jan 29 - Brazil steelmakers to raise prices for automakers in February - source
Brazil steelmakers will raise prices for steel used in auto manufacturing between 12% and 15% in February in line with rising steel prices worldwide, a source told Reuters on Thursday. The steelmakers planning the price increase include Companhia Siderurgica Naciona, Usiminas and Gerdau .

Jan 28 - Gold demand plunged to 11-year low in 2020 as virus upended trade – WGC
Global demand for gold fell to its lowest in 11 years in 2020 as the coronavirus upended the market, triggering huge stockpiling by investors but collapsing sales of jewellery and purchases by central banks, an industry report said on Thursday. The pandemic also transformed the geography of the bullion trade, sucking gold from Asia, where most gold is sold as jewellery, to Europe and the United States, where investors are the dominant consumers. 

Jan 28 - Australia's Fortescue sees sustained iron ore demand from China
Fortescue Metals Group Ltd said on Thursday it expected sustained iron ore demand from Chinese steelmakers, but it warned of potential rising costs at a flagship iron ore project. The world's fourth-largest iron ore miner reported a flat growth in second-quarter production from the same period last year, but a record-half year output which came as iron ore prices hit record highs, suggesting healthy dividends in financial results on Feb. 18. 

Jan 28 - Rio Tinto reshuffles top deck as it strives to mend Indigenous ties
Rio Tinto on Thursday named a new head of its iron ore division as part of a leadership reshuffle as it works to rebuild partnerships with Indigenous groups after the global miner destroyed ancient, sacred caves in Australia. Global Chief Executive Jakob Stausholm, who was appointed in December after several executives left in response to the caves blast in May, has vowed to take a more inclusive approach and repair relationships with Aboriginal groups. 

Jan 28 - Gold's rally to slow, not stop, as global economy recovers - poll
Analysts and traders have downgraded their forecasts for gold but still expect prices to recover from current levels and many see it achieving record highs this year, a Reuters poll showed on Wednesday. Traditionally seen as a safe place to store wealth, gold surged to a record level of $2,072.50 an ounce last summer as the coronavirus swept the globe. 

Jan 28 - Anglo American lowers 2021 diamond output targets
Anglo American has trimmed its production guidance for diamonds in 2021 owing to ongoing operational challenges, it said on Thursday, adding that demand remains healthy. The company's De Beers business is now expected to produce between 32 million and 34 million carats compared with a previous target of 33 million to 35 million carats. Output in the fourth quarter slipped 14%. For 2020 production was down 18% year on year at 25.1 million carats. 

Jan 28 - India's gold demand to rebound in 2021 as economy expands – WGC
India's gold consumption is expected to rebound in 2021 after falling to its lowest in 26 years last year as pent-up demand and higher economic growth are seen boosting sales, the World Gold Council (WGC) said on Thursday. Higher purchases by the world's second-biggest bullion consumer could support gold prices, which hit a record high last year, although that could increase India's trade deficit and weigh on the ailing rupee.

Jan 28 - S.Korea POSCO's 2020 profit falls 38% due to sluggish steel demand
South Korean steelmaker POSCO's operating profit in 2020 slumped 38% from the year before, mainly as margins declined because the coronavirus pandemic cut steel demand while raw material prices rose, the company said on Thursday. The world's fifth-biggest steelmaker reported 2020 operating profit of 2.4 trillion won ($2.15 billion), according to the company statement. 

Jan 28 - EU envoy urges Biden to remove aluminum tariffs, settle aircraft subsidy dispute
The European Union's ambassador to the United States called on U.S. President Joe Biden's administration to immediately lift tariffs imposed on steel and aluminum imports from the EU and to work to settle a longstanding dispute over aircraft subsidies. Stavros Lambrinidis told an online event on Wednesday hosted by the U.S. Chamber of Commerce, that Brussels was ready to work with the United States to strengthen the transatlantic trade relationship and had no desire to erect a "Fortress Europe".

Jan 28 - Japan's Showa Denko to sell aluminium business to Apollo
Japan's Showa Denko KK said on Thursday it would sell its aluminium business to U.S. investment fund Apollo Global Management as the materials maker steps up efforts to divest assets. Specifically, Showa Denko said it plans to sell its aluminium rolling business for electronic components as well as the aluminium can business.

Jan 28 - Australia's Newcrest Mining posts 3% fall in Q2 output
Newcrest Mining said on Thursday its second-quarter gold production fell 2.8% from last year due to lower output from its Cadia and Lihir mines. The country's top gold producer said output fell to 535,477 ounces in the quarter ended Dec. 31, compared with 551,115 ounces a year earlier. However, it beat UBS production estimate of 528,000 ounces.

Jan 28 - South Africa's Kumba Iron Ore flags annual earnings jump
South Africa's Kumba Iron Ore expects annual earnings to rise by as much as 44%, boosted by strong iron ore prices and a weaker rand-to-dollar exchange rate, it said on Thursday. Headline earnings per share (HEPS) for 2020 are expected to come in at between 68.07 rand and 73.06 rand, up 34-44% from the previous year.

Jan 27 - China industry body sees rising steel demand in 2021, eyes raw materials safety
China's steel demand will extend slight increases in 2021, supported by stable macroeconomic policies, the steel association said on Wednesday, although the country's industry ministry had urged less crude steel output this year. Economic policies that China adopted to cope with the coronavirus pandemic will shore up China's steel demand, Qu Xiuli, vice chairwoman of the China Iron and Steel Association (CISA) said at a news conference. 

Jan 27 - World's copper mines struggle to recover from COVID-19: Andy Home
The deadly coronavirus has taken a heavy toll on the world's copper mines. Output in key producer countries such as Peru cratered over the second quarter of 2020 as lockdowns and quarantine measures caused many mines drastically to reduce operations. 

Jan 27 - Heavy industry, transport sectors to align on net-zero climate plans
Over 400 companies across some of the world’s biggest greenhouse gas emitting industries – from shipping to steelmaking - have agreed to work together on plans to decarbonize by 2050, according to a coalition of climate advocacy groups that set up the partnership. The agreement, to be announced at the virtual Davos World Economic Forum on Wednesday, includes giants like miner Arcelor Mittal, shipper Maersk, and oil behemoth Shell. It is intended to complement rising international ambition to make the aggressive emissions cuts scientists say are necessary to avoid the worst effects of climate change. 

Jan 27 - China fails to learn from Trump backfire in trade war, is losing against Australia: Russell
China is paying a heavy toll for its efforts to punish Australia by banning or restricting certain commodity imports, while conversely Australia seems to have avoided any serious financial ramifications so far. It is perhaps surprising that the authorities in Beijing, having witnessed how the trade war launched by former U.S. President Donald Trump backfired on his own country, would be keen to try the same thing on Australia.

Jan 27 - China's 2020 gold imports via Hong Kong sink as virus hits demand
China's net gold imports via Hong Kong in December rose for a second straight month, although imports for the year plunged by 85% as the coronavirus took its toll on the country's economy and dealt a blow to consumption of the metal. Net gold imports via Hong Kong to China, the world's top gold consumer, stood at 5.6 tonnes in December compared with 3.3 tonnes in November, data from the Hong Kong Census and Statistics Department showed on Tuesday.

Jan 27 - LME adds Grafton to its list of approved warehouse firms
The London Metal Exchange has for the first time in more than two years authorised a new warehouse company, UK-based Grafton Warehouse Services, to store LME-registered metal, the exchange said in a notice on Tuesday. The last warehouse company to be approved by the LME was Edgemere Terminals in August 2018, the LME said.

Jan 27 - China battery maker Eve and its parent to invest in Huayou Cobalt
Chinese battery maker Eve Energy Co said on Tuesday the company and its controlling shareholder would invest 1.8 billion yuan ($278 million) in cobalt producer Zhejiang Huayou Cobalt via a private share placement. Cobalt is a key ingredient in lithium-ion batteries for electric vehicles and Eve's move is the latest strategic investment by a battery or automobile manufacturer looking to forge tighter links with raw material suppliers.

Jan 27 - Russia's Evraz considers demerger of its coal business
Russian steel producer Evraz said on Tuesday that it was considering a potential demerger of its coal business, which includes coal producer Raspadskaya. The move, if Evraz decides to go ahead with it, will help it to focus on developing of its steel business and establish the coal business as an independent producer of metallurgical coal, Evraz added in a statement.

Jan 27 - Freeport sees rising copper demand boosting 2021 results
Freeport McMoRan Inc posted a quarterly profit on Tuesday that narrowly beat analysts' estimates on rising production and prices for copper and gold, with executives forecasting continued growth for 2021. Copper sales and prices have jumped in recent months as parts of the world - China especially - began to recover from the coronavirus pandemic. Copper demand is closely linked to economic health.

Jan 27 - Global steel output rises 5.8% yr/yr in December - World Steel
Global crude steel production rose 5.8% to 160.9 million tonnes in December 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 by 7.7% to 91.25 million tonnes in December.

Jan 27 - Mexican miner Grupo Mexico posts $2.3 bln profit in 2020 
Mining and transport firm Grupo Mexico reported on Tuesday a $2.30 billion net profit last year, up 4% compared to 2019, helped by higher mining output and prices, the company said in a filing with the Mexican stock exchange. Its fourth quarter net profit was wider than the year-ago period, up 67% to reach $1.27 billion, according to the filing.

Jan 27 - Russia's gold production down 7% y/y to 314 T in Jan-Nov 
Russia produced 314.41 tonnes of gold from January to November, down from 337.26 tonnes during the same period in 2019, the finance ministry said on Tuesday. The country also produced 873.90 tonnes of silver during the first 11 months of the year, a figure lower than the 903.72 tonnes produced over the same period in 2019.

Jan 27 - Fresnillo forecasts 2021 gold output to fall, full-year output drops 12.1% 
Precious metal miner Fresnillo Plc forecast lower gold output for the current year than COVID-hit 2020 on Wednesday, mainly after a land slip at one of its mines in Mexico restricted operations. The company, which is the country's largest gold producer, said a land slip in one of the pit walls in the Noche Buena project last year resulted in limited access to mining in deeper areas

Jan 26 - Two years after Brazil mining disaster, no closure for victims or Vale 
Families of the roughly 270 victims of a Vale SA mining dam collapse in Brazil held protests and vigils on the disaster's second anniversary on Monday, raising pressure on the company as it struggles to settle legal claims. Firefighters are still searching for the bodies of 11 victims presumed lost in a torrent of mining sludge that buried a full cafeteria at lunchtime in the town of Brumadinho, Minas Gerais state, on Jan. 25, 2019. 

Jan 26 - Ten China gold miners confirmed dead after others rescued; one still missing 
Rescuers searching for the remaining workers trapped in a Chinese gold mine after Sunday's dramatic extraction of 11 survivors found nine bodies, a local official said on Monday, taking the death toll to 10, with one miner still missing. A total of 22 miners working about 600 metres (2,000 feet) underground were trapped after an explosion at the Hushan mine in Qixia, a major gold-producing region in China's coastal Shandong province, on Jan. 10.

Jan 26 - Turkey plans to produce 100 tonnes of gold annually in 5 yrs - minister
Turkey aims to increase its domestic gold production to 100 tonnes a year or more in the next five years, Energy Minister Fatih Donmez said on Monday. In an interview with broadcaster Bloomberg HT, Donmez said Turkey had produced 42 tonnes of gold in 2020, a record high, and it would produce more in 2021.

Jan 26 - Britain's Liberty Steel firms up offer for Thyssenkrupp steel unit 
Britain's Liberty Steel, Europe's fourth-largest steelmaker, said on Monday it had submitted an updated offer for German conglomerate Thyssenkrupp's steel division. The move comes about three months after Liberty Steel, headed by metals tycoon Sanjeev Gupta, said it had made a non-binding indicative bid for the unit, which Thyssenkrupp has put on the block as part of a bigger group restructuring.

Jan 26 - Trump administration quietly eased sanctions against Israeli mining magnate Gertler 
In its final week in office, former U.S. President Donald Trump's administration eased sanctions against Israeli mining magnate Dan Gertler that were imposed for alleged corruption in Congo, according to a license issued by the Treasury Department. The license, which was not announced publicly, was issued by Treasury's Office of Foreign Assets Control (OFAC), according to a Jan. 15 letter to Gertler's lawyers that was obtained by The Sentry, a Washington D.C.-based anti-corruption group, and seen by Reuters.

Jan 25 - Demand lull to pause copper's blistering rally
Copper's rapid recovery in recent months is expected to pause, but it will pick up momentum after the Chinese New Year holiday as demand gradually overtakes supply leaving the market with a substantial deficit. Benchmark copper on the London Metal Exchange trading around $8,000 a tonne, near eight-year highs, is up more than 80% since demand tanked in the first half of 2020 as coronavirus lockdowns floored industrial activity.

Jan 25 - China gold miners rescued early after cavities in shaft discovered-official
Eleven Chinese gold miners trapped underground after an explosion were rescued much earlier than expected thanks to steel pipes supporting blockages in the mine shaft, according to state-media, as the search continued for 10 others. An air ventilation shaft, which was the most feasible way to bring up the workers, had been cleared to a depth of 368 metres (1,207 feet), Xiao Wenru, chief engineer for the mine rescue, told Xinhua News Agency on Monday.

Jan 25 - Swiss court finds Israeli businessman Beny Steinmetz guilty of corruption
In a landmark verdict in one of the mining world's most high profile legal cases, a Swiss criminal court found Israeli businessman Beny Steinmetz guilty of corruption and forgery on Friday and sentenced him to five years in jail with a sizeable fine. The ruling after a two-week trial is a blow for Steinmetz, a diamond trader, whose pursuit of the world's richest uptapped deposits of iron ore put him at the centre of a battle that has triggered probes and litigation around the world. 

Jan 25 - Is China nearing peak aluminium after record 2020 output? Andy Home
World aluminium output rose by 2.5% to a record 65.3 million tonnes last year, with producers lifting run-rates as the aluminium price rebounded from its March lows. The COVID-19 recovery has been led by China, where booming demand has seen the world's largest producer turn net importer of primary metal this year. 

Jan 25 - Speculators cut bullish bets on COMEX gold, silver - CFTC
Hedge funds and money managers reduced their bullish positions in COMEX gold and silver contracts in the week to Jan. 19, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators increased their net long positions in copper futures and options, the CFTC data showed.

Jan 25 - Sumitomo to book additional 30 bln yen impairment on Madagascar nickel project
Japan's Sumitomo Corp said on Monday it will book an additional impairment loss of about 30 billion yen ($289 million) on its Ambatovy nickel project in Madagascar for the October-December quarter to reflect the revised output plan. The Japanese trading house, which owns a 54.17% stake in the project, posted an impairment loss of 55 billion yen for the April-June quarter last year because of the suspension of the mine's operation amid the COVID-19 pandemic and its downward revision of nickel price outlook.

Jan 25 - China copper producer Zhongtiaoshan closes in on backdoor listing
Chinese copper producer Zhongtiaoshan Non-ferrous Metals Group is close to securing a backdoor listing for smelting unit Northern Copper after Shenzhen-traded Nafine Chemical Industry Co announced details of a planned restructuring. The listing will allow Northern Copper, which is upgrading and expanding its Houma smelter in China's Shanxi province, to be publicly traded on the Shenzhen Stock Exchange under Nafine's stock code and raise financing, without the need for an initial public offering.

Jan 25 - Brazil's Vale, state govt $2 bln apart on disaster settlement, source says
Brazilian miner Vale SA and state authorities narrowed their gap in a potential settlement deal over the Brumadinho mining disaster to 11 billion reais ($2 billion) before talks fell apart, a person close to the negotiations told Reuters on Friday. The 2019 disaster in the town of Brumadinho in Minas Gerais state killed some 270 people when a dam ruptured at a Vale facility and unleashed a torrent of mining waste.

Jan 25 - S.Africa's Harmony Gold on track to meet output guidance after Mponeng acquisition
South African bullion producer Harmony Gold said on Monday it was on track to meet its annual output guidance due to the inclusion of its newly acquired Mponeng mine and as measures to offset the impact of COVID-19 paid off. Harmony said it was on track to meet its annual gold production guidance of between 1.26 million ounces and 1.3 million ounces after producing 745,347 ounces in the six months ended December. 

Jan 25 - Japan's 2020 crude steel output drops 16% amid COVID-19 crisis 
Crude steel output in Japan, the world's third-biggest producer, dropped 16.2% from the previous year in 2020 as the COVID-19 pandemic collapsed demand from industries such as automobiles and construction, forcing steelmakers to curb production. Output, which is not seasonally adjusted, fell for a sixth straight year last year to 83.19 million tonnes, the Japan Iron and Steel Federation said on Friday.

Jan 25 - China's Zhengzhou exchange to raise transaction fees for ferrosilicon futures 
China's Zhengzhou Commodity Exchange will raise intraday transaction fees for ferrosilicon futures contract for May delivery to nine yuan ($1.39) per lot from Jan. 26, it said in a statement on Friday. The Zhengzhou bourse adjusted transaction fees for ferrosilicon's May contract earlier this month to six yuan per lot.

Jan 22 - Global copper smelting rises in December, driven by China 
Global copper smelting activity climbed in December, led by top producer China, while North America extended its decline as coronavirus cases surged, data from satellite surveillance of copper plants showed. Europe dipped slightly, but its copper smelting activity remained strong, satellite service SAVANT and broker Marex Spectron said in a joint statement on Thursday. 

Jan 22 - Brazil state gives Vale ultimatum on settlement talks 
Brazilian iron miner Vale SA failed on Thursday to reach a legal settlement with Minas Gerais state regarding a deadly dam disaster, with the state warning it would not take "crumbs" and giving a 10-day deadline for a better offer. About 270 people died in 2019 in the town of Brumadinho in Minas Gerais after a dam burst. The state government and Vale had been in meetings to discuss an agreement, but those negotiations ended unsuccessfully, Mateus Simões, a state official, told journalists. 

Jan 22 - Swiss court to rule in Steinmetz trial over Guinea mining deal 
A Swiss criminal court will rule on Friday whether Israeli businessman Beny Steinmetz is guilty of corruption and forgery charges in one of the mining world's most high-profile legal disputes. The battle for control of the world's richest untapped deposits of iron ore, buried in the remote Simandou mountain range of Guinea, has triggered probes and litigation around the world and thwarted efforts to extract the lucrative commodity.

Jan 22 - Australia's MMG CEO sees short term upside momentum for copper 
Copper prices are likely to rise further after pushing above $8,000 a tonne this month, supported by China's strong economy and government stimulus efforts after the COVID-19 pandemic, the head of Hong Kong-listed MMG Ltd said on Friday. Prices of copper have nearly doubled from last year's lows and the red metal was one of 2020's stand out performers. 

Jan 22 - Developer of Alaska's Pebble mine files appeal over permit rejection
Diversified Canadian miner Northern Dynasty Minerals Ltd said on Thursday its U.S. subsidiary Pebble Limited Partnership has filed an appeal with the U.S. Army Corps of Engineers (USACE) over its decision to deny a key water permit for the contentious Pebble Mine in Alaska. The USACE denied the Clean Water Act permit in November because the plan submitted by the Pebble Limited Partnership detailing how it would handle the project's waste in the ecologically sensitive area did not comply with guidelines.

Jan 22 - Copper producer Aurubis raises earnings outlook despite pandemic 
Aurubis AG, Europe's largest copper producer, on Thursday raised its earnings forecast for its new financial year, saying copper demand and prices are expected to remain high despite the COVID-19 pandemic. Aurubis expects operating earnings before taxes (operating EBT) of between 270 million euros and 330 million euros ($328.40 to $401.3 million) for its 2020/21 fiscal year, which started on Oct. 1, the company said in a statement.

Jan 22 - CFTC chair steps down, academic Chris Brummer in lead to replace him - sources 
Heath Tarbert stepped down as Commodity Futures Trading Commission (CFTC) chair on Thursday, with Georgetown University academic Chris Brummer emerging as a leading candidate to replace him, according to three people with knowledge of the discussions. The White House is expected to make a decision on that and other financial regulator roles soon, one of the people said. A White House spokesman and Brummer did not immediately respond to requests for comment. 

Jan 22 - Lynas inks deal with U.S. for light rare earths separation plant 
Lynas Rare Earths Ltd said on Friday it had signed an agreement with the United States to build a commercial light rare earths separation plant. The plant is expected to produce about 5,000 tonnes per annum of rare earths products, Lynas said, adding that it expects the Department of Defense funding to be capped at around $30 million.

Jan 22 - South Africa's Gold Fields appoints former Amplats boss as CEO 
Gold Fields has appointed former Anglo American Platinum (Amplats) boss Chris Griffith as chief executive, the South African miner said on Thursday. The former Amplats and Kumba Iron Ore CEO joins Gold Fields at a time when surging gold prices have boosted Gold Fields earnings.

Jan 22 - 'The bucket is leaking': Zambia opposition leader denounces debt-funded Mopani deal 
Zambia's main opposition party leader Hakainde Hichilema criticised the government's deal with Glencore on Thursday, comparing the economy to a leaky bucket broken by debt. The state mining investment arm ZCCM-IH agreed on Tuesday to take on $1.5 billion in debt in exchange for full control of Mopani Copper Mines, previously majority-owned by Glencore.

Jan 21 - Ignore or enforce? Biden's dilemma on China's commodity purchases: Russell 
President Joe Biden inherits a problematic trade deal with China and the unpalatable choices of trying to make Beijing meet its commitments on purchases of U.S. commodities, renegotiating, or simply ignoring China's failure to meet the terms. The so-called Phase 1 trade agreement, signed in January last year between the administrations of former President Donald Trump and President Xi Jinping, was most likely doomed to fail from the start. 
 
Jan 21 - Australia's iron ore export hub starts clearing port ahead of cyclone 
A tropical low system in the Indian Ocean off Australia's west coast was expected to develop into a tropical cyclone, Australia's weather bureau said, forcing the country's key iron ore exporting terminal to clear ships from harbour. The Pilbara Ports Authority said in a statement late on Wednesday it had begun clearing large vessels from anchorages at Port Hedland, the world's biggest iron ore loading hub, and that ships were directed to sail by 1200 GMT.  
 
Jan 21 - Death of the ring could be only the start of LME revamp: Andy Home 
The London Metal Exchange (LME) proposes to close the last open-outcry trading floor in Europe and one of the last in the world.  The LME's iconic ring, dating back to when metals merchants drew sawdust circles on the floor of The Jerusalem coffee house in Victorian London, finally looks set to succumb to the electronic tide that has swept all before it.  
 
Jan 21 - Zambia expects to find new Mopani investor by year-end, IMF examines Glencore transaction 
Zambia's mining investment arm ZCCM-IH said it expects to find a new investor for Mopani Copper Mines by the end of the year, as the International Monetary Fund looks into Zambia's deal with Glencore, Mopani's majority stakeholder. Zambia became Africa's first pandemic-era sovereign default in November, but ZCCM-IH agreed on Tuesday to take on $1.5 billion in debt for Glencore's stake, making it the sole owner of the mine.  
 
Jan 21 - Copper market in 113,000 tonnes deficit in Oct 2020 – ICSG 
The global world refined copper market showed a 113,000 tonnes deficit in October, compared with a 147,000 tonnes deficit in September, the International Copper Study Group (ICSG) said in its latest monthly bulletin. For the first 10 months of the year, the market was in a 482,000 tonnes deficit compared with a 354,000 tonnes deficit in the same period a year earlier, the ICSG said. 
 
Jan 21 - Brazil's Vale to divest troubled coal assets in Mozambique 
Brazil's Vale said on Thursday it is buying out minority stake partner, Japan's Mitsui & Co, in a Mozambique coal mine and port project, ahead of selling the loss-making asset as it works to become carbon neutral by 2050. Vale, the world's second-biggest iron ore miner, said in a statement it planned to divest its loss-making Moatize coal mine and Nacala Corridor rail and port projects in Mozambique, to focus on its core operations. 
 
Jan 21 - Trump lifts tariffs on aluminum imports from UAE effective Feb. 3 
Outgoing President Donald Trump on Wednesday said he would exempt the United Arab Emirates from a 10% tariff imposed on most aluminum imports in 2018, saying the two countries had reached a quota agreement that would restrict aluminum imports. In a proclamation issued by the White House shortly before the inauguration of President-elect Joe Biden, Trump said the agreement was reached given the important security relationship that existed between the two countries. 
 
Jan 21 - China's top steelmaker Baowu Group vows to achieve carbon neutrality by 2050 
Top steel producer China Baowu Steel Group said it aims to achieve carbon neutrality by 2050, in response to the country's climate goals set out last year. Baowu Group is seeking to bring its the group's carbon emissions to a peak in 2023 before cutting them by 30% by 2035, according to a company statement citing its chairman Chen Derong on Wednesday.  
 
Jan 21 - Chinese rescuers hope to drill shaft to free trapped gold miners  
Rescuers in China were drilling new shafts on Thursday to reach gold miners who have been trapped underground for 11 days after an explosion, including one they hope to use to bring the survivors to safety. A total of 22 workers were stuck underground in the Jan. 10 blast in the Hushan mine on the outskirts of Yantai, a major gold-producing region in Shandong province on the northeast coast. 
 
Jan 21 - Australia's South32 mulls Eagle Downs stake sale after halting development 
Diversified miner South32 Ltd said on Thursday it was considering a possible divestment of its 50% interest in the Eagle Downs metallurgical coal project in Queensland, after deciding to put its development on hold.  The company, which owns the project along with Chinese steelmaking giant China BaoWu Steel Group Corp, said development was halted as "expected returns (from the project) do not currently support the allocation of capital." 
 
Jan 21 - Indonesia's Antam 2020 nickel ore output down 45.3% y/y 
Indonesian state miner PT Aneka Tambang (Antam) produced 4.76 million wet metric tonnes of nickel ore last year, unaudited data from its 2020 results showed on Thursday. That was 45.3% lower than the 8.7 million wet metric tonnes produced in 2019.  
 
Jan 21 - Sibanye-Stillwater beats 2020 S.Africa platinum output guidance 
Sibanye-Stillwater's South African platinum group metals (PGM) operations produced 1.58 million ounces in 2020, beating annual guidance by 9%, the miner said on Wednesday, as mines recovered from earlier COVID-19 related shutdowns. Sibanye, which is listed in Johannesburg and New York, had guided for South African PGM production of between 1.35 million and 1.45 million ounces. Production jumped 40% in the second half from the first half as COVID-19 restrictions eased.

Jan 20 - BHP forecasts record annual iron ore output as Samarco ops restart
BHP Group Ltd on Wednesday forecast record iron ore production for fiscal 2021, as the world's biggest listed miner looks to cash in on high prices for the commodity following restart of its Brazilian operations. The company resumed production at its Samarco plant with joint venture partner Vale SA in December, five years after a fatal dam disaster led to suspension of activities at the site and multiple legal cases. 

Jan 20 - End of an era? London Metal Exchange proposes closure of open-outcry trade
The London Metal Exchange has proposed closing Europe's last open-outcry trading floor and moving permanently to an electronic system, cementing a change sparked by the coronavirus pandemic. The LME floor closed in March 2020 for the first time since World War II to allow the social-distancing needed to deal with COVID-19, silencing its red ring of seats and the theatre of arcane hand signals and frenzied shouting by traders.

Jan 20 - China's imports of Australian copper ore crash to zero in December
China's imports of copper concentrate from Australia dried up completely in December, customs data showed on Wednesday, as smelters shunned Australian supply amid tense bilateral ties. Imports of copper ores and concentrates from Australia were zero tonnes last month, according to General Administration of Customs data. 

Jan 20 - China bought most iron ore from Australia, Brazil in 2020, but imports from India up nearly 90%
Australia and Brazil, the world's two largest iron ore producers, remained China's top suppliers in 2020, but imports from India soared 88% as Chinese mills diversified sources amid sky-high raw materials prices. Australian shipments rose 7% to 713 million tonnes, while Brazilian supplies were up 3.5% at 235.7 million tonnes, data from China's General Administration of Customs showed on Wednesday. 

Jan 20 - Rio Tinto CEO urges patience in repairing Indigenous ties as iron ore output grows 
Rio Tinto will need time to rebuild partnerships with Indigenous groups following the company's destruction of sacred caves in Australia, its new chief executive said on Tuesday in his first quarterly report as CEO. Jakob Stausholm was appointed in December, replacing Jean-Sébastien Jacques who quit in the wake of a widespread backlash against the company after it blasted the 46,000-year-old Juukan Gorge rock shelters to expand an iron ore mine. 

Jan 20 - China Dec coal imports from Australia plunge to zero on import restrictions
China did not allow any coal cargos from Australia to pass the customs clearance in December as it targeted various Australian products with unofficial import restrictions, but inflows from other countries rose. Both thermal coal, mainly used as fuel at power generation plants, and metallurgical coal for steelmaking from Australia fell to zero in December, according to data from the General Administration of Customs on Wednesday.

Jan 20 - Indonesia stays China's second-biggest nickel ore supplier despite export ban
Indonesia remained China's second-biggest nickel ore supplier in 2020, Chinese customs data showed on Wednesday, despite the Southeast Asian country's ban on exports of the material. Arrivals of Indonesian nickel ore into China totalled 3.4 million tonnes last year, the General Administration of Customs reported. 

Jan 20 - Cash-strapped Zambia takes on $1.5 bln debt to buy Glencore copper mine
Zambia's state mining investment arm ZCCM-IH has agreed to buy Glencore's majority stake in Mopani Copper Mines in a $1.5 billion deal funded by debt and will seek a new investor, the government said on Tuesday. The sale follows Glencore's attempt to suspend operations at Mopani last year because of low copper prices and COVID-19 disruptions, prompting a government threat to revoke the company's mining licences.

Jan 20 - Copper miner Solgold CEO Mather to retire, hunt for new boss starts
Nick Mather, the chief executive officer of copper and gold miner SolGold, will retire at the end of March after 13 years at the helm, the company said in a statement. While Solgold starts the hunt for a new CEO, its non-executive director Keith Marshall will step in as an interim chief, it added.

Jan 20 - Tanzania and Kabanga Nickel in deal to develop nickel project
Tanzania and UK-based mining firm Kabanga Nickel Limited signed a framework agreement on Tuesday to jointly develop the Kabanga nickel project formerly owned by Barrick Gold and Glencore. Foreign minister Palamagamba Kabudi said at a signing ceremony in Bukoba the government would own a 16% undiluted free-carried interest in the nickel project through a new joint venture company, Tembo Nickel Corporation, 84% owned by Kabanga Nickel.

Jan 20 - Vedanta Resources settles Zambia copper mine pollution claim 
Vedanta Resources has agreed to settle all claims brought against it by Zambian villagers following pollution by a copper mine run by Konkola Copper Mines Plc (KCM), Vedanta and law firm Leigh Day said on Tuesday. The claim, centring on pollution from the Nchanga Copper Mine, was brought by more than 2,500 Zambian villagers against KCM - Zambia's biggest private employer - and its UK-based parent company Vedanta Resources. 

Jan 20 - China deploys 16 rescue teams to save stricken gold miners
China has deployed 16 professional rescue teams and dozens of medical personnel to try to save 12 miners trapped underground for 10 days after an explosion in a gold mine in northern China's Shandong province, state media reported. A total of 22 miners were left trapped after an explosion on Jan. 10 at the Hushan gold mine on the outskirts of the city of Yantai on China's eastern coast.

Jan 19 - China aluminium imports extend 2020 record high with December rise
China's aluminium imports in December rose 40.5% from the previous month, customs data showed on Monday, snapping three months of declines and extending 2020's position as a record year. The world's biggest aluminium producer, usually has little need for overseas supply but a rapid demand recovery after the coronavirus outbreak saw Shanghai prices surge above London, opening up an arbitrage for cheaper imports. 

Jan 19 - Rio Tinto Q4 iron ore output rises on China demand recovery
Rio Tinto on Tuesday reported a 2.4% rise in fourth-quarter iron ore shipments, helped by industrial activity in top consumer China which the company said had returned to pre-pandemic levels. Iron ore imports by the world's second-largest economy hit a record high in 2020 as it spent big on infrastructure to trigger an economic rebound from the coronavirus pandemic.

Jan 19 - China ramp up to rein in aluminium price bulls
Aluminium's extensive price rally of recent months is likely to stall this year as China ramps up production and creates a surplus that will offset predicted shortages in the United States, Europe and Japan. Benchmark aluminium on the London Metal Exchange at around $2,000 a tonne is up 35% since April last year, when the metal used in the transport, packaging and construction industries fell to its lowest since January 2016.

Jan 19 - Shanghai booms as metals trading mirrors uneven recovery: Andy Home
China has led the industrial recovery from COVID-19 with the rest of the world struggling to catch up. Manufacturing activity has rebounded faster than anywhere else and China's imports of metals such as copper and aluminium have been running at record highs. 

Jan 19 - Ivanhoe Mines' Friedland taking 'hard look' at U.S. projects
Ivanhoe Mines founder Robert Friedland said on Monday he is taking a "hard look" at projects in the United States amid a global rush for green metals. U.S. President-elect Joe Biden has indicated support boosting domestic production of metals used to make electric vehicles, solar panels and other products crucial to his climate plan.

Jan 19 - Nornickel fund launches first Blockchain-tracked precious metal ETCs 
A fund of Russia's Norilsk Nickel has launched Blockchain-tracked securities known as Exchange Traded Commodities (ETCs) which offer investors exposure to the spot prices of palladium, platinum, gold and silver without owning them. Nornickel, the world's largest producer of palladium, hopes to attract more investors to metals.

Jan 19 - Silkroad agrees nickel ore supply deal with China's Ganfeng Lithium
Silkroad Nickel said on Monday it has agreed to supply a minimum 10 million tonnes of nickel ore from its mine in Indonesia to China's Ganfeng Lithium over a 10-year period. The agreement marks a significant move into another battery metal by Ganfeng, one of the world's top producers of lithium chemicals used in electric vehicle (EV) batteries. 

Jan 19 - Thyssenkrupp shares rise on steel spin-off report
Shares in Thyssenkrupp rose on Monday as traders pointed to a Bloomberg report which said that the group was considering a spin-off of its steel business, citing people familiar with the matter. Thyssenkrupp said that in addition to a potential sale of the steel business it was also examining options to develop the division on a standalone basis, declining to comment further.

Jan 18 - China 2020 aluminium output roars to annual record high 
China produced 37.08 million tonnes of aluminium in 2020, official data showed on Monday, setting an annual record as smelters cashed in on soaring prices, with December output also hitting a monthly all-time high even as the rally cooled. Primary aluminium production in December was 3.27 million tonnes, the National Bureau of Statistics (NBS) said.

Jan 18 - China 2020 crude steel output rises to 1.05 bln T, sets record for fourth year 
China's annual crude steel production rose to over 1 billion tonnes for the first time in 2020, setting a record for a fourth year as steelmakers went into overdrive after the country reopened after lockdowns to control the spread of COVID-19. The world's top steel producer churned out 1.05 billion tonnes of crude steel last year, up 5.2% from 2019 to increase for a fifth year, data from the National Bureau of Statistics (NBS) showed on Monday.  

Jan 18 - China's 2020 coal output rises to highest since 2015, undermining climate pledges
China's coal output in 2020 rose to the highest since 2015, despite Beijing's climate change pledge to reduce consumption of the dirty fossil fuel and months-long disruptions at major coal mining hubs. The world's biggest coal miner and consumer produced 3.84 billion tonnes of coal in 2020, data from the National Bureau of Statistics showed on Monday.

Jan 18 - Chilean lithium miner SQM says relations with indigenous communities are improving 
Chilean company SQM, the world's second largest lithium producer, has a priority commitment to the indigenous communities surrounding the Atacama salt flat, the firm's General Manager Ricardo Ramos said in an interview. According to the interview, published on Sunday in the newspaper La Tercera, the company is making progress in improving relations with the communities that live in that area of ​​the arid Chilean north through several cooperation deals. 

Jan 18 - Inside lithium giant SQM's struggle to win over indigenous communities in Chile's Atacama 
SQM, the world's No. 2 lithium producer, cut a deal with Chile in 2018 that allowed it to ramp up output from the Atacama, a remote and fragile desert salt flat whose indigenous inhabitants fear may be jeopardized by mining. When the deal was struck, the Chilean miner promised up to $15 million annually to promote "sustainable development" in those communities.  

Jan 18 - U.S. regulators approve Lithium Americas' Nevada lithium mine 
The U.S. Bureau of Land Management gave final approval on Friday to Lithium Americas Corp's Thacker Pass lithium mine in northern Nevada, part of a push by policymakers to boost domestic output of the white metal for electric vehicle batteries. The Vancouver-based company now plans to seek financing for the project, which could be producing lithium by October 2022.

Jan 18 - Iron ore may lose steam as supply rises, China demand growth eases: Russell 
Iron ore has started 2021 in much the same fashion as it spent most of last year, moving higher and adding to a rally that saw the spot price surge 75% in 2020. But while the steel-making ingredient is continuing its stellar run, the fundamentals may slowly be starting to turn against further gains, with easing prices seeming more likely. 

Jan 18 - Outgoing Trump admin OKs land swap for Rio Tinto's Arizona copper mine 
U.S. President Donald Trump's outgoing administration approved a land swap on Friday for a Rio Tinto Ltd copper mine in Arizona that would boost domestic production of the red metal but destroy sites sacred to Native Americans. The U.S. Forest Service published an environmental impact statement for the Resolution Copper project that allows the federal government to swap land containing a large copper deposit for nearby acreage that Rio owns.  

Jan 18 - Indonesia to revise royalty rates on coal, gold in bid to boost revenue 
Indonesia plans to adjust its royalty payment policies on sales of gold and coal in an effort to boost state revenues as prices of the two commodities recover, an official said on Friday. The world's top exporter of thermal coal expects a recovery in prices and exports this year after scoring a $1.5-billion trade deal with China.  

Jan 18 - Speculators cut bullish bets on COMEX gold, silver - CFTC 
Hedge funds and money managers reduced their bullish positions in COMEX gold and silver contracts in the week to Jan. 12, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also decreased their net long positions in copper futures and options, the CFTC data showed. 

Jan 18 - Vedanta reopens Gamsberg zinc mine in South Africa 
Vedanta Zinc International said on Saturday that mining has started again at its Gamsberg mine in South Africa following a closure in November when the pit wall collapsed, trapping miners underground. The company did not specify what capacity it is operating at. 

Jan 18 - At least 12 workers trapped in China gold mine are still alive - Xinhua 
Twelve workers who were left trapped underground after an explosion at a gold mine in eastern China a week ago are still alive, according to a note retrieved from the site, the official Xinhua news agency reported on Sunday, citing local authorities. A total of 22 workers were trapped in the Hushan mine, in Shandong province, after the blast on Jan. 10.

Jan 15 - U.S. judge denies Native American bid to block land swap for Rio Tinto copper mine 
A U.S. judge on Thursday denied a request by Native Americans to block the Trump administration from publishing an environmental study that would trigger a land swap needed by Rio Tinto Ltd to build a copper mine in Arizona. The ruling is a blow to the San Carlos Apache tribe and others who have long opposed Rio's Resolution copper project, which would be built on land considered sacred.  

Jan 15 - Native Americans say U.S. does not own land it is about to give to Rio Tinto 
Members of Arizona's San Carlos Apache tribe filed a property lien on Thursday in an attempt to regain control over land that the U.S. government is poised to give to Rio Tinto Ltd for the Resolution Copper mine. The latest maneuver by tribal members opposed to the project asks a court to find that the U.S. government has illegally occupied the land for more than 160 years and has no right to give it to anyone. 

Jan 15 - Slow progress reported in China's new scrap metal import system 
Scrap metal that meets China's tough new standards is taking up to four weeks to clear customs but the recently adopted import system is slowly improving, scrap professionals told a webinar on Thursday. Top metals consumer China banned imports of solid waste from the end of 2020 but the new standards mean some very high-grade copper, brass and aluminium scrap is now classed as a resource and can still enter, preserving a key source of supply for smelters and fabricators.  

Jan 15 - Doubts cloud BHP's Cerro Colorado mine after Chilean court ruling 
The operations of global miner BHP's Cerro Colorado copper mine in water-parched northern Chile have been thrown into doubt after the country's Supreme Court upheld local indigenous communities' complaint about the project's water use. The court ruled late on Wednesday night that a routine evaluation of the mine's environmental project, including by a committee of ministers, failed to take into account warnings by locals that its operations were overdrawing water and impacting local wetlands.  

Jan 15 - London Metal Exchange's twilight zone absorbs stocks build: Andy Home 
London Metal Exchange (LME) stocks of aluminium fell by 132,500 tonnes over the course of 2020.  This is a surprising outcome, given the size of the COVID-19 hit to global manufacturing activity. The last time metals demand suffered a similar collapse was during the Global Financial Crisis of 2009, when LME aluminium stocks almost doubled to 4.6 million tonnes. That, however, was a credit crisis. The COVID-19 crisis isn't. There has been no pressing need for the physical supply chain to deliver unsold metal to the market of last resort.  

Jan 15 - China 2020 refined nickel output up 1.4%, NPI production slumps - Antaike  
China's refined nickel production in 2020 rose 1.4% to 164,600 tonnes, state-backed research house Antaike said on Thursday, while output of stainless steel raw material nickel pig iron (NPI) plunged. Refined nickel output in December was up 3.1% from November at 14,090 tonnes but down 11.9% year on year as Shandong-based smelter Yantai 
Cash suspended a nickel production line, Antaike said.  

Jan 15 - Chile's Codelco to ratchet up precautionary measures as COVID-19 cases rise 
Chile's state-owned Codelco, the world's largest copper producer, said on Thursday it would once again ratchet up precautionary measures against the coronavirus at its mines amid a recent uptick in infections in the South American nation. The measures, which include a reduction in personnel, come several months after the miner had resumed normal operations following the peak of contagion in May and June.  

Jan 15 - Barrick Gold quarterly output gets boost from Dominican Republic mine 
Canadian miner Barrick Gold Corp said on Thursday its fourth-quarter gold production rose 4.4% from the previous quarter, partly due to higher output at its Pueblo Viejo mine in the Dominican Republic. Gold prices touched record highs in 2020, as investors flocked to the safe haven asset while the COVID-19 pandemic roiled the markets. In the fourth quarter, market prices averaged $1,875 per ounce, 26.4% higher than a year earlier. 

Jan 15 - Rio Tinto enters scandium market with plant in Canada's Quebec 
Global miner Rio Tinto said on Thursday it will become North America's first producer of critical mineral scandium oxide with construction of a commercial-scale demonstration plant in the Canadian province of Quebec. Rio said it would invest $6 million to build the first module in the plant at its metallurgical complex in Sorel-Tracy, Que., with commercial output starting in the second quarter. 

Jan 15 - EU escalates WTO case against Indonesia over export curbs 
The European Union escalated its challenge at the World Trade Organization on Thursday over Indonesia's export ban on nickel ore by requesting the Geneva-based trade body form a panel to adjudicate on the case. The bloc launched its initial complaint in Nov 2019 against the export restrictions on raw materials, notably nickel ore and iron ore, that are used to make stainless steel.

Jan 14 - China's 2020 copper imports hit record high 
China imported record volumes of unwrought copper and copper products on an annual basis in 2020, while its annual exports of aluminium fell to the lowest since 2017. Imports of unwrought copper and copper products for the year came in at 6.68 million tonnes, customs data showed on Thursday, up a third from 2019 and extending the annual record notched well before the end of the year, on the back of a quick recovery from the coronavirus epidemic. 

Jan 14 - Gold-backed ETFs end record 2020 with second month of outflows 
Exchange traded funds (ETFs) storing gold for investors shrank for a second month in December, but nevertheless grew more than ever before in 2020 thanks to massive stockpiling earlier in the coronavirus outbreak, the World Gold Council said on Wednesday. Gold is traditionally used as a safe store of wealth, and investors rushed to hoard it as the pandemic swept through the global economy. 

Jan 14 - China 2020 iron ore imports hit record on robust post-virus demand 
China's iron ore imports hit a record high in 2020, jumping 9.5% from a year earlier as the country beefed up spending on infrastructure to spur an economic recovery amid the coronavirus pandemic and manufacturing increased. China, the world's top steel producer, imported 1.17 billion tonnes of iron ore in 2020, data from the General Administration of Customs showed on Thursday. 

Jan 14 - Rio Tinto reaches deal to continue NZ aluminium smelter ops till 2024 
Global miner Rio Tinto said on Thursday it had reached an agreement with electricity provider Meridian Energy to allow its aluminium smelter in New Zealand to continue operations until December 2024. Rio Tinto had said in July that it would close New Zealand's Aluminium Smelter (NZAS), which is the country's single largest power user, due to high costs and a challenging market. The move would put over a thousand jobs on the line and dealing a blow to the country's top power producers.

Jan 14 - Rhodium roars above $20,000 in precious metals' biggest rally 
Rhodium's rally to record highs shows no sign of stopping, with prices up 19% this month as auto makers that need the metal to meet tightening emissions regulations run into limited supply. Used in engine exhausts to neutralise harmful nitrous oxides, rhodium reached $20,190 an ounce on Wednesday, up from $16,990 on Dec. 31 and as low as $615 in 2016.

Jan 14 - China's commodity imports saved 2020, this year may be different: Russell 
There is both a history lesson and a warning in the latest Chinese data on imports of major commodities. The history part is that China bought record volumes of crude oil, copper, iron ore and coal in 2020, showing just how vital the world's biggest buyer of natural resources was in keeping commodity market buoyant in a year when the global coronavirus pandemic threatened to crush demand. The warning part is that the trade data for the month of December, released on Thursday, shows that China's massive buying spree appears to be ending, and import demand may be returning to what could be viewed as more "normal" levels.

Jan 14 - Steel inventories rise as coronavirus spike sees China's Hebei grind to a halt 
Steel mills in northern China's Hebei province are having to find more space for inventories as transportation restrictions imposed to prevent the spread of a resurgent coronavirus prevent them from sending out products to clients. Hebei, which accounts for a quarter of China's steel capacity, has so far put three cities - its capital Shijiazhuang, Xingtai and Langfang - into lockdown since local infections leapt at the start of the year. It reported 90 new cases for Jan. 12.

Jan 14 - China's annual rare earths exports slump to 5-year low 
China's rare earths exports fell to a five-year low last year, customs data showed on Thursday, after the coronavirus hit overseas demand and as more supply was used in domestic industries. Shipments reached 35,448 tonnes, down 23% from 46,330 tonnes in 2019 and the lowest since 2015, according to Reuters records.

Jan 14 - Kazakh mining startup Battery Metals seeks Hong Kong listing 
Battery Metals Technologies, a Kazakhstan-based nickel and cobalt mining company, plans to raise funds through an initial public offering and list in Hong Kong, the firm told Reuters. The company said on Thursday it plans to develop the Gornostayevskoye deposit located close to the Kazakh-Chinese border, one of the largest nickel deposits in the Central Asian nation, which has close economic ties with Beijing.

Jan 13 - Weak lithium prices could slow EV revolution, Albemarle warns 
Global supplies of lithium used to make electric vehicle (EV) batteries will fall short of projections for demand to more than triple by 2025 if prices do not rebound to fund expansions, an executive at industry leader Albemarle Corp said on Tuesday. The warning laid bare the tension emerging in the EV industry between the companies that supply the lithium crucial for battery development and automakers who are hunting for discounts.

Jan 13 - Native Americans sue Trump administration over Rio Tinto's Arizona copper project 
Members of the San Carlos Apache tribe in Arizona on Tuesday said they have sued the Trump Administration to block a pending land swap that would give Rio Tinto the land it needs to build its Resolution Copper project. Apache Stronghold, a non-profit organization that filed the lawsuit in the U.S. District Court in Phoenix, said it sought to stop the publication of a final environmental impact statement that will trigger the transfer of Oak Flat land to Resolution Copper.

Jan 13 - Norway eyes sea change in deep dive for metals instead of oil 
Norway's oil and gas reserves have made it one of the world's wealthiest countries but its dreams for deep-sea discovery now centre on something different. This time, Oslo is looking for a leading role in mining copper, zinc and other metals found on the seabed and in hot demand in green technologies.

Jan 13 - Gold investors target 'excessive' executive payouts amid deals 
Gold investors critical of lavish executive payouts plan to vote down compensation at upcoming annual shareholder meetings, as soaring prices for the precious metal spur dealmaking. It is the latest knock against an industry that had only recently won back investor favor after being shunned due to disappointing returns. 

Jan 13 - China zinc smelters to raise output by 5.7% in 2021 after record year - Antaike 
China's zinc smelters will raise production by almost 300,000 tonnes, or 5.7%, in 2021 after producing a record amount of metal last year despite the pandemic, while refined lead output will also grow, research house Antaike said on Tuesday. Production in top metals consumer China has rebounded strongly after an initial collapse in early 2020, when the coronavirus hampered logistics and hit demand. Its subsequent spread around the world then affected China's raw material supply.  

Jan 13 - First Cobalt signs supply deal with Glencore, eyes China Moly contract 
Canada's First Cobalt Corp said on Tuesday it signed a deal with Glencore and has agreed a tentative pact with a unit of China Molybdenum Ltd for cobalt supplies from the Democratic Republic of the Congo. The agreements come after First Cobalt last month secured C$10 million in government loans and grants to accelerate startup and expansion of North America's first cobalt refinery in the Canadian province of Ontario. 

Jan 13 - London Metal Exchange's Singapore head leaves role 
The head of London Metal Exchange's (LME) Singapore office said on Tuesday he had left his position after four years in the role and five years at the exchange in total. William Fyfe, who spent a year as the LME's head of buy-side sales for Southeast Asia in 2016 before becoming its head of Singapore in January 2017, updated his LinkedIn profile to show that he was "looking for new opportunities."

Jan 13 - OGE, Thyssenkrupp and Equinor hatch hydrogen plan for Duisburg steel 
German gas transmission system operator OGE, steel producer Thyssenkrupp and Norwegian energy company Equinor on Tuesday said they would deepen cooperation to help cut carbon emissions from a Thyssenkrupp plant in Duisburg, Germany. The three said a feasibility study for the project, started in October 2019 and known as H2morrow, had shown that it would be possible to split CO2 from hydrogen derived from fossil fuels used in steelmaking and store it by the year 2027.

Jan 13 - Steinmetz denies corruption in Guinea case; says he was not in charge 
Israeli businessman Beny Steinmetz on Tuesday denied any role in corruption or forgery linked to mining rights his company secured in Guinea, describing himself as the owner and company ambassador but not the boss. Steinmetz was indicted in August 2019 by a Geneva prosecutor who accused him and two aides of paying, or having paid, $10 million in bribes to obtain exploration permits for some of the world's richest iron-ore deposits in the remote Simandou mountains of Guinea.

Jan 13 - Philippines' Duterte stops mining on 'devastated' southern island 
Philippine President Rodrigo Duterte has ordered a halt to all mining on an island in a southern province that is home to some of the country's nickel projects, a Cabinet official said on Tuesday. Duterte was "very much concerned" about reports that the Tumbagan Island in Languyan, in Tawi-Tawi province, has been "completely devastated" by mining activities, Cabinet Secretary Karlo Nograles said in a media briefing.

Jan 12 - Mongolia considers terminating Oyu Tolgoi copper mine expansion as costs jump - developer 
Rio Tinto-controlled Turquoise Hill Resources said on Monday that Mongolia's government is considering terminating the companies' underground expansion of their Oyu Tolgoi copper mine project due to rising development costs. Shares of Turquoise Hill fell as much as 20% in early trading on the news.

Jan 12 - Swiss-based trader Telf to sell ERG's cobalt in 3-year deal 
Swiss-based commodity trader Telf AG will sell cobalt produced by Eurasian Resources Group's operation in Democratic Republic of Congo, equivalent to 10% of global supply in 2021, three sources with direct knowledge of the matter told Reuters. Under the deal, expected to run from 2021 to 2023, Telf will market 18,000 tonnes of cobalt for ERG this year - worth some $657 million at London Metal Exchange prices.

Jan 12 - Pandemic sharpens sustainability focus in plastics and aluminium 
The aluminium and plastics sectors have proved resilient during the coronavirus crisis but need to do more in the push towards so-called circular economies, two industry executives said at at a pre-recorded panel for the Reuters Next conference. Markets such as the United States have seen average aluminium recycling rates actually fall, said Steve Fisher CEO of Novelis Inc, a unit of Hindalco Industries and the world's largest producer of recycled aluminium and flat rolled products, including for drinks cans.

Jan 12 - Funds still in the driving seat as copper hits fresh highs: Andy Home 
London Metal Exchange (LME) copper last week punched up through the $8,000-per tonne level for the first time since February 2013. LME three-month metal touched a high of $8,238 per tonne on Friday and has retraced to a current $7,900.

Jan 12 - U.S. steel groups, union urge Biden to keep Trump's steel tariffs in place 
Steel industry and union groups on Monday urged President-elect Joe Biden to keep in place the 25% national security tariffs on steel imports imposed in 2018 by his predecessor, arguing they are essential to ensure the viability of domestic steel production. In a letter to Biden, the American Iron and Steel Institute, the Steel Manufacturers Association, the United Steelworkers union, the Committee on Pipe and Tube Imports and the American Institute of Steel Construction said that the industry was starting to recover from COVID-19 shutdowns but remains "very vulnerable" to new surges in imports.

Jan 12 - Zimbabwe gold deliveries tumble nearly a third to 19 tonnes in 2020 
Gold sales to Zimbabwe's sole buyer and exporter of bullion Fidelity Printers and Refiners (FPR) fell 31% to 19 tonnes last year after lower deliveries from small-scale miners, official data showed on Monday. FPR pays U.S. dollars in cash to small-scale gold miners, but a shortage of hard cash caused delays in payments most of last year. That forced many of the miners to sell their gold to illegal buyers, industry officials say.

Jan 12 - Gold mine explosion in China traps 22 workers underground - Xinhua 
Chinese authorities have dispatched rescue workers to a gold mine in the country's northeast after 22 workers were trapped underground following an explosion, Xinhua news agency reported on Tuesday. The accident happened at 2 p.m. local time on Sunday in Xicheng Township, located in eastern Shandong province. Rescue workers have so far been unable to contact the trapped miners because the blast damaged the communication signal system, the report said.

Jan 12 - Steinmetz trial on corruption charges opens in Geneva 
Israeli billionaire Beny Steinmetz went on trial in a Geneva court on Monday on corruption and forgery charges linked to mining concessions in the West African nation of Guinea. Steinmetz was indicted in August 2019 by a Geneva prosecutor who accused him and two aides of paying or having $10 million in bribes paid to obtain exploration permits for some of the world's richest iron-ore deposits.

Jan 11 - Trump moves to loosen mining regulations, approve projects as he exits 
Outgoing U.S. President Donald Trump's administration is moving to loosen mining regulations and green light new mineral projects before leaving office this month, with successor Joe Biden unable to reverse some of the changes. Administration officials tell Reuters they plan to publish a raft of decisions on Jan. 15 that will expand miners' access to federal lands, give final approval to Lithium Americas Corp's Nevada lithium mine and approve a land swap for a Rio Tinto Ltd Arizona copper mining project, among other steps.

Jan 11 - UK shareholder raises concerns over Rio/BHP Arizona mine 
A leading British local government pension group has urged mining giants Rio Tinto and BHP to clarify how they intend to protect the environment in and around an Arizona copper project that is opposed by many Native American tribes. The Local Authority Pension Fund Forum (LAPFF), a shareholder in both firms, said that it had written to them to ask how the U.S. project, which could be approved within days, will affect local communities, as Native American tribes say it could destroy cultural and religious sites.

Jan 11 - Glencore in final-stage talks over Mopani stake sale to Zambia 
Glencore said on Friday it was in final-stage negotiations over a potential sale of its majority stake in Mopani Copper Mines to Zambia's mining investment arm ZCCM-IH. Zambian state radio ZNBC earlier reported the government had concluded talks with Glencore, citing President Edgar Lungu.

Jan 11 - Deutsche Bank to pay nearly $125 million to resolve U.S. bribery, metals charges 
Deutsche Bank AG will pay nearly $125 million to avoid U.S. prosecution on charges it engaged in foreign bribery schemes and manipulated precious metals markets, the latest blow for the bank as it tries to rebound from a series of scandals. Germany's largest lender agreed to the payout as it entered a three-year deferred prosecution agreement with the U.S. Department of Justice, and a related civil settlement with the U.S. Securities and Exchange Commission.

Jan 11 - Speculators raise bullish bets on COMEX gold, silver -CFTC 
Hedge funds and money managers upped their bullish positions in COMEX gold and silver contracts in the week to Jan. 5, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators reduced their net long positions in copper futures and options, the CFTC data showed.

Jan 11 - Zimbabwe's Kuvimba seeks $1 billion for platinum, gold projects 
Zimbabwe's unlisted Kuvimba Mining House is seeking to raise $1 billion for its gold and platinum projects, including a gold mine that could produce 150,000 ounces a year, as well as exploration, its chief executive officer said on Friday. Kuvimba was established last year and is 65% owned by the government with the balance held by management through a Mauritius-based company Quorus.

Jan 08 - Chile threatens legal action to get Albermarle to disclose lithium reserves 
Chilean regulators have threatened Albemarle Corp with legal action, demanding that by week´s end the world´s top lithium miner present a plan for turning over data on its reserves of the ultralight battery metal, according to filings obtained by Reuters. In 2016, Chile 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. 

Jan 08 - Australia's Port Hedland iron ore shipments to China jump 16% in December 
Iron ore shipments to China from Australia's Port Hedland rose by 16% in December from a month earlier, despite a short weather related shutdown, the Pilbara Ports Authority said on Friday. Iron ore exports to China rose to 40.0 million tonnes from 34.44 million tonnes in November, data from the authority showed. 

Jan 08 - Albemarle to boost Nevada lithium output as electric vehicle demand climbs 
Albemarle Corp said on Thursday it will double production at its lithium facility in Silver Peak, Nevada, part of a plan to boost supply for the burgeoning electric vehicle (EV) market. Government mandates and rising concerns about climate change have increased demand for EVs and for the ultra-light battery material lithium. Albemarle expects its Nevada expansion to help supply the U.S. market.

Jan 08 - Tin on a roll as new year squeeze grips London market: Andy Home 
The tin market has started the new year with a bang. The London Metal Exchange (LME) three-month price hit $21,360 per tonne on Tuesday, the highest trade since March 2019. It is currently sitting just below there at $21,085. 

Jan 08 - China cobalt prices leap to 2-year high, focus on stockpiling 
Prices for cobalt metal in China powered to their highest in almost two years on Thursday, with traders attributing the rally to a new round of buying by the country's state stockpiler. Cobalt on the Wuxi Stainless Steel Electronic Trading Center - a reference for spot deals in China - hit 319.50 yuan ($49.42) per kg, the highest since Jan. 11, 2019. It is up more than 13% already in 2021.

Jan 08 - EU imposes duties on some Turkish iron, steel imports 
The European Union will impose tariffs from Friday on hot-rolled iron and steel products from Turkey based on an ongoing investigation into dumping. The duties will range from 4.8% to 7.6% and affect Turkish companies Erdemir, Isdemir, Colakoglu Metalurji and Habas, according to the text of the EU official journal published on Thursday.

Jan 08 - Chile posts $1.423 bln Dec trade surplus; copper exports jump - central bank 
Chile posted a trade surplus of $1.423 billion in December, the central bank said on Thursday, boosted by a surge in the value of its copper exports. Copper export revenue jumped 6.7% to $3.747 billion, the bank said. Prices for the metal have jumped to near eight-year highs in recent weeks.

Jan 07 - Tianqi Lithium shareholders to offload up to 4% stake in company to raise cash 
Tianqi Lithium Corp said on Wednesday its two biggest shareholders would sell up to 4% in the company over a six month period this year, potentially raising more than $400 million to help the debt-laded lithium producer. The move marks the second time since May that controlling shareholder Chengdu Tianqi Industrial Group has sought to reduce its stake in Tianqi, one of the world's biggest makers of lithium chemicals used in electric vehicle batteries. 

Jan 07 - Four dead at India steel plant after suspected gas leak 
Four contract workers at the Steel Authority of India Limited's Rourkela steel plant in eastern India died on Wednesday after a suspected gas leak, the state-owned company said in a statement. The four men were employees of private firm M/S Star Constructions and were engaged in maintenance work at the plant's coal chemicals department, SAIL said.

Jan 07 - Pandemic-hit Southeast Asia's 2020 steel consumption down 6.2%-8.7% - industry group 
Steel consumption in Southeast Asia's six biggest economies is estimated to have declined as much as 8.7% last year due to pandemic-driven lockdowns, and prospects for a quick rebound remain clouded, an industry group said on Thursday. As the economies of Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam were hit hard by the global health crisis, the region's steel consumption likely slumped to between 73.3 million tonnes and 75.3 million tonnes, according to the South East Asia Iron and Steel Institute (SEAISI).

Jan 07 - Brazil state eyes at least $5.3 bln Vale deal after dam burst, official says
The Brazilian state of Minas Gerais is hoping to win at least 28 billion reais ($5.3 billion) from a compensation deal with miner Vale SA after the 2019 Brumadinho deadly dam burst, a senior state official said on Wednesday. State and Vale officials will meet on Thursday, when it is expected talks on compensation will begin, ahead of a court-mediated hearing expected in January, said state secretary general Mateus Simões.

Jan 07 - In blow to Vedanta, Zambian court rules KCM liquidator to stay in post 
A Zambian court has ruled the state-appointed liquidator of Vedanta's Konkola Copper Mines will not be discharged despite a November ruling ordering a halt to proceedings to allow Vedanta and minority KCM shareholder ZCCM-IH to pursue arbitration. The ruling is a blow to Vedanta, which has been locked in a legal battle since the Zambian government - which owns 20% of KCM through state mining investment firm ZCCM-IH - handed control of the business to a liquidator in May 2019.

Jan 06 - What's next for Rio Tinto's Arizona copper project after U.S. land swap
U.S. President Donald Trump's outgoing administration plans to approve a land swap on Jan. 15 that Rio Tinto Ltd and partners need to build a copper mine in Arizona, clearing a long-time hurdle for the project that is opposed by many Native Americans. Developers will continue their effort to obtain a series of regulatory approvals, including construction permits, for the Resolution copper project after President-elect Joe Biden takes office.

Jan 06 - Goldman proclaims the dawn of a new commodity supercycle: Andy Home
Will COVID-19 kick-start a new commodities supercycle? Goldman Sachs thinks so.  While last year's strong rebound in many commodity prices might be viewed as a "V-shaped vaccine recovery", the bank contends it is just "the beginning of a much longer structural bull market for commodities".

Jan 06 - U.S. hits Iran with fresh sanctions as Trump term nears end
The United States on Tuesday blacklisted a Chinese company that makes elements for steel production, 12 Iranian steel and metals makers and three foreign-based sales agents of an Iranian metals and mining holding company, seeking to deprive Iran of revenues as U.S. President Donald Trump's term winds down. The U.S. Treasury Department, in a statement, named the China-based company as Kaifeng Pingmei New Carbon Materials Technology Co Ltd. (KFCC), saying it specialized in the manufacture of carbon materials and provided thousands of metric tonnes of materials to Iranian steel companies between December 2019 and June 2020.

Jan 06 - Perth Mint's gold sales ease in Dec, but 2020 avg monthly sales double
Sales of Perth Mint's gold products in December fell nearly 9% from the previous month, although average 2020 shipments doubled from the prior year, the refiner said in a blog post on Wednesday. Sales of gold coins and minted bars dropped to 76,806 ounces last month, declining 8.7% from a seven-month high reached in November and by 2.7% from a year earlier. 

Jan 06 - LME announces departure of Scotiabank, China Merchants Securities
The London Metal Exchange (LME) said on Tuesday it lost two members - Scotiabank Europe Plc and China Merchants Securities (UK) Limited - groups that last year had shut metals operations. Several banks in recent years have closed commodities businesses, hit by higher capital requirements, heightened government regulation and weaker revenues in the sector.

Jan 06 - Hedge funds raise mining shorts as COVID vaccines seen tamping gold gains
Hedge funds increased bets against major gold miners, filings reviewed by Reuters showed, as COVID-19 vaccines weakened expectations for the yellow metal after a year of record gains. Gold prices have dipped from last year's record highs above $2,000 per ounce as vaccines deployed against the coronavirus encouraged investment in assets that perform well during periods of economic growth.

Jan 06 - Chile's Codelco board approves $1.383 billion overhaul of Salvador mine
The board of Chile's state-owned copper miner, Codelco, has approved a budget of $1.383 billion for the overhaul of its aging Salvador mine, the company said in a statement on Tuesday. Construction for the Rajo Inca project that will convert Salvador from an underground mine to an open-cast one will start this year, with an initial 22-month job of stripping away rock covering the mineral deposits, the company said in a statement.

Jan 06 - Protest blocks $530 mln worth of copper from MMG's Peru mine - association
A three-week-long roadblock protest by locals has prevented Las Bambas mine in Peru, run by Australia-based MMG Ltd, from exporting 189,000 tonnes of copper concentrate, a mining association leader said on Tuesday. Pablo de la Flor, executive director of the National Society of Mining, Oil and Energy, said the blockade of a road in the Cusco region, 200 kilometers (125 miles) from the mine, had lasted 24 days and prevented export of copper concentrate worth $530 million. He warned that the company could start to halt production altogether in the coming days.

Jan 06 - Youngpoong mulls legal appeal against Seokpo zinc smelter shutdown order
South Korea's Youngpoong Corp is considering various options, including legal appeals, against a government order to shut down its Seokpo zinc smelter for two months, sources said on Wednesday. The country's authorities ordered the shut down of the 400,000-tonne smelter in Gyeongsangbuk-do province from April 1 to May 31 for violation of the Water Environment Conservation Act, the company said in a filing on Monday.

Jan 06 - R&B star Akon enters Congo mining sector in JV with state company
A company led by American-Senegalese R&B singer Akon has signed a deal to finance a copper and cobalt mine in the Democratic Republic of Congo in a joint venture with a state miner, according to a contract published by the mines ministry. The Grammy-nominated singer, known for hit songs like "Don't Matter" and "Smack That," has launched a number of business and philanthropic ventures across Africa in recent years, including a $6 billion futuristic city in Senegal and a cryptocurrency called Akoin.

Jan 05 - Trump to approve land swap for Rio Tinto's Resolution Copper project 
U.S. President Donald Trump's outgoing administration plans to approve a controversial land swap needed for Rio Tinto Ltd and partners to build an Arizona copper mining project that Native American tribes say will destroy sites of cultural and religious value. The move further escalates the growing global clash between indigenous groups, who are increasingly vocal about the need to preserve historical lands, and mining companies eager to produce more copper for electric vehicles and other green technologies.

Jan 05 - Bauxite shipping firm Winning quits international aluminium body 
Winning International Group, the world's largest bauxite shipping firm, has left the International Aluminium Institute (IAI), the industry body said on Monday after updating its member list for the new year. "Winning are no longer members of the IAI," the body's London secretariat said. The IAI website no longer lists Winning as a member.

Jan 05 - China Baowu Steel unit opens 2.8 mln tonnes/year steel scrap plant 
A unit of top steel producer China Baowu Steel Group has launched a steel scrap processing and production facility with annual capacity of 2.8 million tonnes in the eastern Chinese province of Anhui. The facility, opened on Monday, has total investment of 440 million yuan ($68.35 million), the Baowu unit, Ouyeel Blockchain Finance and Metal Recycling Resources Co Ltd, said on Tuesday.

Jan 05 - Shares jump in Mexican mining companies Penoles and Grupo Mexico 
Shares in two of Mexico's top mining companies jumped on Monday amid higher metal prices, with Industrias Penoles surging more than 11% to a four-month high and Grupo Mexico climbing more than 5% to reach a record level. Their strong performance on Mexico's benchmark stock index coincided with a jump in global metal prices, including for gold, in line with the weakening dollar.

Jan 05 - Indonesia nickel smelting activities unaffected by quakes near Morowali 
Operational activities at the nickel smelting hub in Morowali, on Indonesia's Sulawesi island were not affected by earthquakes that hit the area in the early hours of Monday, a company official said. Indonesia's meteorology agency BMKG's said at least three tremors were felt near Morowali on Monday with magnitudes of up to 4.9.

Jan 04 - After golden year for precious metals, silver set to shine in 2021 
After a spectacular year, precious metals are set for further gains in 2021, with silver tipped to outperform, but analysts are growing more cautious about the prospects for gold as the global economy recovers from the impact of the coronavirus. The pandemic triggered stockpiling by investors looking to protect their wealth. This, alongside supply deficits, pushed gold and palladium prices up by more than 20% this year, while silver rose 47%, and platinum 10%.

Jan 04 - China to allow imports of new-standard steel scrap from 2021 
China will allow imports of new-standard steel scrap - or recycled steel raw materials - from Jan. 1, the Ministry of Ecology and Environment said on Thursday, meaning such material will not be subject to a ban on solid waste imports. China has imported very little steel scrap, an iron ore substitute that can be remelted to make steel, in 2020 amid tight restrictions on solid waste inflows. 

Jan 04 - China's GEM seeks to double stake, take control of Indonesia nickel project 
Chinese electric vehicle battery firm GEM Co Ltd said on Monday it aims to double its stake in an Indonesian nickel project, becoming the majority investor to strengthen "strategic control" of the resources amid a nickel shortage.  Under a framework memorandum of understanding (MoU), GEM said in a statement, the firm's Jingmen unit has agreed with partners in the project at Indonesia's Morowali Industrial Park to increase its holding to 72% from 36%.  

Jan 04 - What's driving New Caledonian protests against Brazilian mining giant Vale 
Riots erupted in December in New Caledonia, a French territory in the Pacific, with protesters blockading nickel mines and challenging Brazilian mining giant Vale's latest attempt to sell its local business. New Caledonia is the world's fourth-largest nickel producer, behind Indonesia, Philippines and Russia. In 2019, it produced 220,000 tonnes, or 8% of global mined nickel.

Jan 04 - China to build overseas iron ore mines to ensure supply, boost pricing power 
China aims to build one or two globally significant overseas iron ore mines by 2025 to boost supply of the steelmaking ingredient and strengthen its pricing power, the industry ministry said on Thursday. Equity output from stakes held by Chinese firms in overseas mines should account for more than 20% of iron ore imports by that year, according to a five-year plan for the steel sector published by the Ministry of Industry and Information Technology (MIIT).

Jan 04 - Chile says manufacturing, copper output down in November 
Chile's manufacturing output dropped 1.7% year on year in November, government statistics agency INE said on Thursday, falling short of expectations as the coronavirus pandemic continued to weigh heavily in the world's top copper producer. The country's copper output fell 2.1% to 493,538 tonnes in November, the agency said. Chile's total copper production through November hit 5.29 million tonnes, an increase of 0.2% over the same period in 2019.

Jan 04 - Shanghai nickel stocks halve in 2020, copper down nearly 30% 
Nickel inventories in warehouses monitored by the Shanghai Futures Exchange fell by more than half in 2020, while copper stocks fell by nearly a third, data showed on Thursday. Copper stocks on the last day of 2020 declined 29.9% from last year to 86,679 tonnes, while nickel inventories dropped 51.6% during the same period to 18,111 tonnes, the lowest since June 2019, ShFE data showed.

Dec 31 - The US dollar continues to fall, weakening broadly against major currencies, including 0.4% against the euro, 0.3% against the yen. The ICE US Dollar Index declines 0.4%, its fourth loss in five sessions. US stocks inched higher today with the Dow settling at a fresh high.

Dec 31 - Gold is higher in Asian trade as U.S. dollar continued its slide, with traders squaring position ahead of the year's end amid thin liquidity on the last day of 2020, Phillip Futures senior commodities manager Avtar Sandu says. However, an upbeat risk appetite in the market, evident by buoyant stock indexes at or near record highs, is tampering buying enthusiasm and limiting safe-haven demand for gold, he says. Investors are also awaiting the Jan. 5 Georgia runoff elections that will determine which political party controls the U.S. Senate, with expectations for more stimulus under a Democrat-controlled Senate and House, he adds. Spot gold rises 0.1% to $1,896.20 an ounce.

Dec 31 - Iron ore is stepping back from a recent nine-year high heading into year end. Spot iron ore fell $3.60 yesterday to $158.90/ton, according to S&P Global Platts. Traders are questioning whether demand from steelmakers--which surprised traders, analysts and miners alike in 2020--could soften after media reports said Beijing wants to cut crude-steel output in 2021. The market is already heading into what should be a seasonal lull. Iron-ore demand usually weakens during the winter as China's construction activity slows.

Dec 31 - While the US steel-plate price has been recovering, it is lagging far behind increases in hot-rolled coil, widening the discount for plate to "easily the lowest level since at least 2000," Citi says. While the plate price is up roughly 60% since its trough five months ago, HRC has more than doubled, the bank notes. "This has meant that the plate has gone to a significant discount at spot prices, from close to average six months ago," Citi says. Plate typically trades at a premium to HRC, usually averaging about $153/ton more in price, the bank says. Plate is now at a $210/ton discount, it says.

Dec 30 - The suspension of Cameco's Cigar Lake uranium mine, announced Dec. 14, is helping to prop up prices for the energy fuel after a relatively flat few months, according to UxC, LLC, a nuclear-industry research company. The price of U3O8, a common uranium compound used in nuclear-power generation, is at $30 a pound this week, up 1.9% on the start of the month, it says. That is uranium's highest price since early September. "Additional spot purchases are expected in the near-term to cover any production shortfalls," says UxC president Jonathan Hinze.

Dec 30 - The new U.S. uranium reserve, funded to the tune of $75 million
, might offer a lifeline to some ailing domestic uranium companies amid a lengthy market downturn, says UxC president Jonathan Hinze. At a price of $40/pound or so--higher than today's $30/pound, but the likely minimum companies would need to restart idled mines--the government could buy about 1.5-1.7 million pounds of U3O8, a common uranium compound, he estimates. "While this is not an insignificant quantity, the main result will be to support 1-2 U.S. uranium producers at a time when production in this country has fallen off a cliff," says Hinze.

Dec 30 - Chinese steelmakers aren't facing the same harsh, pollution-related production restrictions for winter they have in years past, which suggests it's the strength of demand driving down steel inventories there, Citi says. Inventories held by Chinese distributors have fallen substantially since the October Golden Week holiday, dropping by roughly 46% in the past 10 weeks, the bank says. "The rapid draw down has left inventories at all near all-time lows for the year-end," Citi says.

Dec 24 - China copper smelters lower treatment charge floor for Q1, choose new leader
China's copper smelter group on Thursday lowered its floor treatment and refining charges (TC/RCs) by 8.6% quarter-on-quarter for the first quarter of 2021, according to two sources with knowledge of the matter. The members of the China Smelters Purchase Team (CSPT) set the first-quarter floor at $53 per tonne and 5.3 cents per lb at a meeting in Shanghai, said the sources. That compares to $58 per tonne and 5.8 cents per lb for the fourth quarter of 2020 and to $67 per tonne and 6.7 cents per lb a year earlier.

Dec 24 - Japan Q1 aluminium premium jumps to $130/T on demand pickup
The premium for aluminium shipments to Japanese buyers for January to March was set at $130 a tonne, up 48% from this quarter, as demand recovered from the COVID-19 pandemic-induced slump, six sources directly involved in pricing talks said. The figure is higher than the $88 per tonne paid in October to December and marks a second quarterly increase in a row and the highest since the July-September quarter in 2018, but lower than the initial offers of $138-$140 made by producers last month.

Dec 24 - China's aluminium imports set annual record, eclipsing 2009 high
China's aluminium imports hit a record annual high with a month to spare, customs data showed on Wednesday, after November inflows took this year's arbitrage-fuelled shipments above a previous peak in 2009. Imports of unwrought aluminium and aluminium products into China, the world's biggest producer of the metal, were 188,973 tonnes last month, the General Administration of Customs said.

Dec 24 - Rio Tinto, indigenous land owners begin rebuilding ties after sacred cave blast
Rio Tinto Ltd and Indigenous Australians said on Thursday they had taken initial steps towards rebuilding their relationship after the miner destroyed sacred Aboriginal caves in Western Australia in May. The destruction of the 46,000-year-old Juukan Gorge rock shelters by Rio Tinto to make way for a mine expansion led to intense public criticism and an inquiry that eventually caused the departure of a number of top-level executives including its chief executive officer.

Dec 24 - MMG declares force majeure on some contracts as protests disrupt copper mine
Australia-based miner MMG Ltd said on Thursday that transport had been temporarily disrupted due to road blocks by local residents near its Las Bambas copper mine in Peru, forcing it to declare force majeure on some supply contracts. "Based on Las Bambas' current schedule, there will be delays to some concentrate shipments as a result of this event," MMG, a subsidiary of Chinese state-owned enterprise China Minmetals Corp, said in a statement on Thursday.

Dec 24 - Chile's SQM begins process to raise capital, boost lithium output
Chile´s SQM said on Wednesday its board of directors agreed to begin the process of raising $1.1 billion in capital through the sale of common stock to help underwrite an ambitious expansion of its lithium, nitrate and iodine operations. The world´s No. 2 lithium producer said in a statement it would call an extraordinary shareholders meeting on Jan. 22 to green-light a proposal to issue 22.4 million of the company´s series B shares.

Dec 24 - BHP restarts operations at Samarco five years after Brazil dam disaster
BHP Group Ltd said on Thursday it had met licensing requirements to restart operations and had begun iron ore pellet production at its Samarco joint venture with Brazil's Vale SA, five years after a deadly dam disaster. The restart of iron ore mining comes just as prices of the commodity have soared in recent weeks on expectation of bullish demand in 2021, as top consumer China further recovers from the coronavirus while a Brazilian supply shortfall persists.

Dec 24 - Vale says Samarco restarts operations, five years after disaster 
Brazilian iron ore miner Vale SA said on Wednesday its Samarco joint venture with BHP had begun the gradual restart of operations, after a deadly dam failure in 2015. Vale said the operations had restarted at a production level of 7-8 million tonnes annually, or about 26% of Samarco's full capacity.

Dec 23 - Canada rejects bid by China's Shandong for Arctic gold mine on security grounds
Canada rejected Shandong Gold Mining's bid for indebted TMAC Resources, the companies said, amid concerns about a Chinese state-owned entity operating in the country's sensitive Arctic region. Canada and Australia have increased scrutiny on deals by state-run Chinese miners this year amid economic dislocation caused by the coronavirus pandemic. 

Dec 23 - Russia's Polyus to spend $600 mln expanding its second largest mine
Russia's largest gold producer Polyus will spend $600 million on the construction of a new gold processing plant and upgrade of its Blagodatnoye mine in Siberia, its main source of near-term output growth. After the construction of Mill 5, which will start next year, Polyus will concentrate on the development of its giant Sukhoi Log deposit. 

Dec 23 - SQM announces 8-year deal to supply lithium to LG Energy Solution
Chile's SQM said on Tuesday it had inked a long-term agreement with LG Energy Solution to supply the South Korean battery maker with ultralight metal lithium, a main ingredient in powering electric vehicles. SQM, the world's No.2 producer of lithium, said the contract would run between 2021 and 2029 and involves the supply of approximately 55,000 metric tons of lithium carbonate equivalent, SQM said in a statement.

Dec 23 - Australian miners press Congo over seized iron ore projects
Congo Republic has cancelled iron ore projects with three Australian miners, two of the companies said, and handed them to a firm "nobody knows anything about", prompting one to seek $8.76 billion in damages from the central African nation. The sudden cancellation sparked alarm among the project owners after years of working closely with the government of Congo Republic.

Dec 23 - Vietnam imposes anti-dumping tax on Chinese cold-rolled steel
Vietnam has imposed anti-dumping duties on some coil or sheet cold-rolled steel products that originated from China for five years starting Dec. 28, its industry and trade ministry said on Wednesday. The duties, specifically for coils or sheets of a width of less than 1,600 mm and between 0.108 mm-2.55 mm thickness, come after the ministry finished an anti-dumping investigation that started in September last year, on behalf of the domestic industry. 

Dec 23 - Codelco reaches advance labor deal at Chuquicamata copper mine
Chile's state-owned Codelco, the world's top copper producer, said Tuesday it had reached a labor agreement ahead of schedule with the union of supervisors at its Chuquicamata mine. The 36-month agreement enters into force on April 1. 

Dec 23 - Canada's Turquoise Hill considers gold streaming, debt funding for Mongolian mine
Canadian miner Turquoise Hill Resources Ltd said on Tuesday it intended to pursue "gold streaming" and medium-term debt offering transactions for its Oyu Tolgoi copper and gold project in Mongolia. The streaming transaction would involve "a significant up-front payment" to Oyu Tolgoi, as well as deferred payments based on gold "spot" prices, Turquoise Hill said.

Dec 23 - Japan's Jan-March crude steel output forecast to drop 2.5% - METI
Japan's crude steel output is forecast to fall 2.5% year on year in the first three months of 2021 as the COVID-19 pandemic continues to weigh on construction and shipbuilding, the Ministry of Economy, Trade and Industry (METI) said on Tuesday. That will put the nation's annual output for the financial year to March 31 at 82.49 million tonnes, its lowest since 1968, the ministry said. 

Dec 23 - MMG says road block protest to cut output at Las Bambas copper mine, Peru
Las Bambas copper mine in Peru, controlled by China's MMG, said on Tuesday it will progressively reduce production because of a protest by local residents that has blocked a road for the last two weeks. Since Dec. 12. members of the local community have been preventing mining trucks from using a road in Velille district, Cusco region, 200 kilometers from the mine, MMG said in a statement.

Dec 23 - Stainless steel producer Outokumpu announces 650 layoffs
Finnish stainless steel producer Outokumpu on Tuesday announced 650 job cuts in Finland, Germany and Sweden as part of a targeted 1,000 layoffs as it seeks to cut annual costs by between 75 million euros ($91.8 million) and 80 million euros. "Due to the challenging market situation with continuing high import pressure in Europe and the COVID-19 pandemic impacting the global economy, it is crucial to ensure the company's cost competitiveness by reducing fixed costs, of which personnel expenses are significant part," Outokumpu said.

Dec 22 - LME to launch six cash-settled contracts in June next year
The London Metal Exchange (LME) said on Monday it planned to launch six cash-settled futures contracts on June 14, 2021. It said in a notice to market participants that these contracts were for European aluminium premiums, U.S. aluminium scrap, lithium hydroxide, European hot rolled steel, steel scrap in India and steel scrap in Taiwan. 

Dec 22 - ArcelorMittal, Nippon Steel to build new electric arc furnace in U.S.
Japan's Nippon Steel Corp and ArcelorMittal SA will spend $775 million to build an electric arc furnace at their U.S. joint venture in Alabama, with a planned start date in the first half of 2023, Nippon Steel said on Tuesday. The new furnace, to be constructed at their 50-50 joint venture AM/NS Calvert, will have an annual capacity of 1.5 million metric tonnes and will produce hot-rolled, cold-rolled and coated steel sheets. 

Dec 22 - China steel giant Baowu Group starts aluminium alloy production in Henan
China's top steel producer Baowu Steel Group has started production at the first phase of an aluminium alloy project with annual capacity at 300,000 tonnes in central province of Henan on Dec.20, the company said. The project, operated by Baowu's unit Baowu Aluminum Technology, is considered as a "landmark" of the steel tycoon's extension to new materials industry, according to a company statement on late Monday. 

Dec 22 - Japan Jan-March quarter crude steel output seen -2.5% y/y - METI
Japan's crude steel output is forecast to fall 2.5% in the January-March quarter from a year earlier to 23.50 million tonnes, the Ministry of Economy, Trade and Industry (METI) said on Tuesday. Demand for steel products, including those for exports, is forecast to drop 3.4% to 20.64 million tonnes in January-March versus a year earlier, the ministry also said, citing an industry survey. 

Dec 22 - Sundance seeks $8.8 bln in damages over Congo iron ore project
Australian miner Sundance Resources said on Monday it had initiated an arbitration process against Congo Republic for damages of $8.76 billion after the Congolese government revoked its permit for the Nabeba iron ore project. The Nabeba permit is part of Sundance's flagship Mbalam-Nabeba project, which straddles the border of Congo and Cameroon. It has yet to begin extracting iron ore.

Dec 21 - China to produce 1 bln tonnes of crude steel in 2020, more next year - govt consultancy
China's crude steel output is expected to top 1 billion tonnes for the first time in 2020, before rising another 1.4% next year due to rapid economic growth and an increase in fixed-asset investment, a government consultancy said on Monday. China, which produces more than half of the world's steel, is set to churn out 1.05 billion tonnes in 2020, up 5.4% from a year earlier, and 1.065 billion tonnes in 2021, Li Xinchuang, chairman of the China Metallurgical Industry Planning and Research Institute (MPI) said. 

Dec 21 - Tokyo Steel to raise product prices for January by up to 16%
Tokyo Steel Manufacturing Co Ltd, Japan's top electric-arc furnace steelmaker, said on Monday it would raise prices in January for all its steel products by 10,000 yen ($97) a tonne, or 11% to 16%, reflecting firmer overseas steel prices and lower local inventories. The move comes after the steelmaker hiked prices this month for all its steel products by up to 3.3%, including its main H-shaped beams.  

Dec 21 - Russia to impose export duties on soybeans, scrap metal
Russia will impose tariffs on the export of soybeans and scrap metal to ensure domestic firms have sufficient raw materials, the Economy Ministry said on Saturday. The ministry said the 5% temporary export duty on ferrous metal waste and scrap, as well as a minimum price of 45 euros per tonne, was designed to counter the threat of shortages.

Dec 21 - Landslide in Vale mine in Brazil kills person near location of 2019 dam disaster
A landslide at a mine operated by iron ore giant Vale SA killed one person on Friday, the company said, at a location not far from where a mining dam operated by the same company burst in 2019 and killed hundreds. According to Vale, the person who died was employed by a third-party company and was operating a bulldozer when a landslide at the Córrego do Feijão mine in Minas Gerais state struck him. 

Dec 21 - Speculators raise bullish bets on COMEX gold, silver - CFTC
Hedge funds and money managers upped their bullish positions in COMEX gold and silver contracts in the week to Dec. 15, 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.

Dec 21 - Chile's Antofagasta agrees copper charges for 2021, sources say, Codelco to follow
Chile's Antofagasta Plc and Codelco will supply copper concentrate at treatment and refining charges of $59.50 per tonne and 5.95 cents per lb in 2021, signing up at the benchmark rate miners have now managed to lower for six years in a row. Two sources with knowledge of the matter said miner Antofagasta had agreed to supply copper concentrate at those rates to smelters in China and Japan.

Dec 21 - Strike ends at Canada's Westshore coal terminal after union announces agreement
Strike actions have effectively ended at a Canadian coal export terminal after the local union said it reached a tentative agreement with Westshore Terminals Investment Corp. Union ILWU Local 502, which represents workers at the terminal in Roberts Bank, British Columbia, did not provide any details on the agreement in a statement dated Saturday.

Dec 21 - Chile's Pinera announces energy minister to take on mining as well
Chilean President Sebastián Piñera announced on Friday the country's current minister of energy would also lead the mining ministry, a small but noteworthy adjustment in the world's top copper producer. Energy Minister Juan Carlos Jobet assumes responsibility for the sprawling sector, which includes oversight of the world's top lithium miners, after the president sent the previous minister, Baldo Prokurica, to head the Ministry of Defense.

Dec 18 - Global coal demand to rise 2.6% in 2021 after record decline this year - IEA
Global demand for coal is set to jump 2.6% next year after a record pandemic-led drop this year, as recovering economic activity will lift use for electricity and industrial output, the International Energy Agency (IEA) said on Friday. Demand for thermal and metallurgical coal should rise to 7,432 million tonnes in 2021, from 7,243 million tonnes this year, the Paris-based agency said in its Coal 2020 report.

Dec 18 - A tale of two crises - metals in the year of COVID-19: Andy Home
It's been a tumultuous year for industrial metal markets, both the worst of times and the best of times. Prices collapsed during the first three months of 2020 as first China, then the rest of the world, went into COVID-19 lockdown, bringing manufacturing activity to a near standstill. 

Dec 18 - AngloGold Ashanti sees strong cash position, CEO search "in progress"
AngloGold Ashanti said on Friday costs and production are on track to meet its guidance, and expects the 2020 free cash flow generation to be the strongest in almost a decade, enabling the gold miner to double the dividend payout ratio. Gold miners globally have reaped the rewards of a surge in gold prices this year as investors rushed to buy the precious metal seen as a safe-haven asset in turbulent times.

Dec 18 - Global zinc market surplus in Oct climbs to 52,900 tonnes - ILZSG
The global zinc market surplus increased to 52,900 tonnes in October from a revised 38,900 tonnes a month earlier, data from the International Lead and Zinc Study Group (ILZSG) showed. During the first 10 months of the year, the global surplus was 480,000 tonnes compared to a deficit of 216,000 tonnes in the same period last year.

Dec 18 - U.S. SEC relaxes rules on company 'resource extraction' disclosures
The U.S. Securities and Exchange Commission on Wednesday relaxed requirements on oil, gas and mining companies to disclose payments made to foreign governments, completing a rule created by Congress after the government bailout of Wall Street in 2008. The SEC voted 3-2 to adopt industry-friendly changes to its "resources extraction" disclosure rule following a 10-year industry fight to water down the measure, mandated by the 2010 Dodd Frank law passed to battle corporate corruption. 

Dec 18 - Solgold CEO handed shareholder rebuke at annual meeting
Gold and copper miner Solgold Plc's chief executive Nick Mather was handed a strong rebuke on Thursday, with nearly half of votes cast against his reappointment to the miner's board at its annual shareholder meeting. Solgold, backed by BHP nd Newcrest, has sparred with two of its largest shareholders over funding for its mammoth Ecuador copper-gold project. 

Dec 18 - Miner Teck preparing for possible strike at Canada's Westshore coal terminal
Miner Teck Resources on Thursday said it was preparing for the possible shutdown of a key coal export terminal on Canada's West Coast, after a union notice said strike action against terminal owner Westshore Terminals Investment Corp could commence on Saturday. Westshore said Wednesday its Westshore Terminals Limited Partnership received a 72-hour strike notice from ILWU Local 502, which represents workers at its coal export terminal at Roberts Bank, British Columbia.

Dec 17 - Rio Tinto taps insider Stausholm for CEO in surprise pick after cave destruction
Rio Tinto Ltd on Thursday named Chief Financial Officer Jakob Stausholm as its next chief executive, defying expectations it would pick an external candidate to repair its image after its destruction of sacred Aboriginal rock shelters. The destruction of the 46,000-year-old Juukan Gorge rock shelters, while legal, sparked public and investor uproar that ultimately led to the resignation of not just incumbent Jean-Sebastien Jacques, but also two deputies. 

Dec 17 - LME to forge ahead with plans to support sustainable metal production
The London Metal Exchange (LME) said on Wednesday it will forge ahead with plans to support sustainable metal production starting with the roll-out by mid-2021 of a digital register to store carbon related details of aluminium. The world's oldest and largest market for industrial metals, which has been consulting with industry over how to support a transition to a low-carbon economy, is starting with aluminium because power is a major component - sometimes up to 40% - in the smelting process.

Dec 17 - Japan's Pan Pacific sees copper hovering around $7,000/T in 2021
Pan Pacific Copper (PPC), Japan's top copper supplier, expects the price of the industrial metal to hover between $6,500 and $7,000 a tonne in 2021, against about $7,850 now, as demand recovery is limited and the market will register a surplus, its executive said. PPC, jointly owned by JX Nippon Mining & Metals and Mitsui Mining and Smelting, projects the global consumption and supply of refined copper to increase by 3.3% and 2.6% respectively in 2021 from this year, Naoki Kojima, PPC's general manager for marketing, told Reuters on Wednesday.

Dec 17 - Global nickel market surplus steadies in October - INSG
The global nickel market saw a surplus of 2,800 tonnes in October from a 3,000 tonne surplus the previous month, the International Nickel Study Group (INSG) said on Wednesday. For the first 10 months of this year there was a global surplus of 110,600 tonnes compared with a deficit of 40,700 tonnes in the same period last year, Lisbon-based INSG added.

Dec 17 - Equinox Gold to buy Premier Gold Mines in $479.9 mln deal
Canadian miner Equinox Gold Corp said on Wednesday it would buy Premier Gold Mines Ltd in an all-stock deal valued at C$611.7 million ($479.9 million) and simultaneously spin-out Premier's U.S. production assets. The deal, worth about C$2.57 per share, represents a 2% premium to Premier's Tuesday close according to Reuters. 

Dec 17 - First Cobalt secures C$10 mln government backing for Canada refinery
Canada's First Cobalt Corp said on Wednesday it has secured C$10 million in government loans and grants, allowing it to accelerate startup and expansion of North America's first cobalt refinery. Cobalt is crucial for the lithium-ion batteries used in the fast-growing electric vehicle sector, and the financial backing is the latest bet on the burgeoning industry by the Ontario and Canadian governments.

Dec 17 - Board of Brazil's Vale approves extension of railways agreements
Brazilian miner Vale SA said its board has approved a 30-year extension of concession agreements with Estrada de Ferro Carajas and Estrada de Ferro Vitoria a Minas, according to a securities filing on Wednesday. Vale said that under new terms, it will commit to invest 24.7 billion reais ($4.87 billion) by 2057. "The early extensions remove a great deal of uncertainty about the continuity of a relevant part of our integrated logistics chain," said CEO Eduardo Bartolomeo.

Dec 16 - Rio Tinto willing to help improve iron ore pricing system - China steel body
Miner Rio Tinto is willing to work with iron ore consumers to review the pricing mechanism for the steelmaking ingredient, the China Iron & Steel Association (CISA) said, as near-record high prices squeeze margins at Chinese mills. CISA recently called on regulators in China, the world's top iron ore consumer, to investigate a spike in prices on the Dalian Commodity Exchange, saying there were signs speculators had piled in. 

Dec 16 - Pendulum swings in favour of aluminium demand and prices
Flourishing aluminium demand in China and the United States, higher freight costs and tight scrap supplies are expected to fuel further rises in prices of the metal used in the transport, packaging and construction industries. Benchmark aluminium on the London Metal Exchange at around $2,050 a tonne is near the $2,080 hit earlier this month, the highest since October 2018 and up 40% since April when industrial activity and demand stalled due to coronavirus lockdowns.

Dec 16 - Copper smelting activity rises in November
Global copper smelting activity rose in November, having shown no growth the previous month, with the largest increases in Europe, China and South America, data from satellite surveillance of copper plants showed. However, North America saw a sharp decline in smelting activity, satellite service SAVANT and broker Marex Spectron said in a joint statement on Tuesday.

Dec 16 - Funds flock to base metals, but will they stay? Andy Home
Funds have returned to the base metals complex in a big way as investors buy into the COVID-19 recovery story. Speculative long-positioning is at or near multi-year highs across the board, the collective pivot back to a previously out-of-favour sector acting as a major price driver in its own right. 

Dec 16 - Eramet, BASF target electric vehicles with nickel, cobalt project
French mining group Eramet and German chemicals giant BASF announced on Tuesday a partnership to process nickel and cobalt, as the two companies step up their ambitions to supply the electric vehicle industry.  The companies are to study the development of a high-pressure acid leaching (HPAL) plant in Weda Bay, Indonesia, using ore from a local mine operated by Eramet, along with a base metal refinery (BMR) whose location has yet to be determined, they said in a statement. 

Dec 16 - Glencore expands worldwide satellite monitoring of tailings dams
Commodities trader Glencore said on Tuesday it had entered into an agreement with satellite-based services provider Tre-Altamira to expand monitoring to over 110 of its dams worldwide, focused on its waste-disposal tailings storage. The London-listed company said the satellite monitoring would provide measurement of surface movements every 11 days and ensure continuous provision of information.

Dec 16 - Ethiopia revokes licences of 63 mining companies – minister
Ethiopia has revoked the mining licences of 63 companies due to breach of contract, the mines minister said on Tuesday without providing any names. The mining companies breached contract rules, failed to renew their licences, or not made royalty payments, Mines Minister Takele Uma said, confirming an earlier report by state-affiliated broadcaster Fana. 

Dec 16 - B2Gold says operations at Mali gold mine not affected by general strike
Gold miner B2Gold on Tuesday said operations at its Fekola mine in Mali had not been affected by a five-day nationwide strike by the West African nation's main workers union. The National Union of Malian Workers (UNTM), which says it represents 80% of Mali's unionised workers, launched the strike on Monday amid a standoff with the government over wages and working conditions. 

Dec 16 - Chile's Codelco reaches advance labor deal with unions at Ventanas smelter and refinery
Chile's state-owned Codelco, the world's top copper producer, said Tuesday it had reached a labor agreement ahead of schedule with two unions from its key Ventanas smelter and refinery. The 36-month agreements with its Union 1 and Turnados Union enter into force in February and May, respectively. 

Dec 16 - De Beers extends 10-yr Botswana sales deal on coronavirus delays
Diamond miner De Beers said on Tuesday it had extended a 10-year sales agreement with Botswana by a year due to logistical challenges caused by the coronavirus pandemic, allowing the two sides more time to negotiate. The Anglo American unit, which is 15% owned by the government of Botswana, saw sales plummet during the peak of the pandemic, forcing it to restructure its business.

Dec 15 - China Nov aluminium output hits daily record high
China's primary aluminium production hit a daily record in November, official data showed on Tuesday, as more smelting capacity came onstream to take advantage of strong demand and high prices for the metal. Output was 3.18 million tonnes last month, the National Bureau of Statistics said, up 8.7% from a year earlier. 

Dec 15 - China Nov crude steel output falls 4.9% from prior month -stats bureau
China's November crude steel production fell 4.9% from October to log the third consecutive monthly drop, official data showed on Tuesday, affected by seasonal weaker demand and environmental restrictions. The world's biggest steel producer churned out 87.66 million tonnes of crude steel last month, down from 92.2 million tonnes in October but up from 80.29 million tonnes in November 2019, data from the National Bureau of Statistics (NBS) showed. 

Dec 15 - Freeport seals lower copper TC/RCs for 2021, signalling 6th straight drop in benchmark
Freeport-McMoRan Inc has agreed copper treatment and refining charges (TC/RCs) for 2021 with four Chinese smelters at 4% below this year's terms, an executive from the miner said on Monday, heralding a sixth straight drop in the annual benchmark. Freeport agreed charges of $59.50 per tonne and 5.95 cents per lb with China Copper, Jiangxi Copper, Tongling Nonferrous and Jinchuan Group, said Javier Targhetta, senior vice president for marketing and sales at the miner and president of its subsidiary Atlantic Copper.

Dec 15 - Australian miner aims to produce in Botswana's copper belt by 2022
Australia's Sandfire Resources aims to start commercial mining of copper and silver in Botswana's Kalahari copper belt by 2022, it said on Monday, as the country seeks to curb its dependence on diamong mining. The Kalahari Copper Belt, which extends for nearly 1,000km from northeast Botswana to western Namibia, is touted as one of the world's most under-explored copper-silver deposits.

Dec 15 - Fire breaks out at Vale mine amid protests in New Caledonia
A fire broke out at nickel mining facilities owned by Brazil's Vale SA in New Caledonia during local protests, the company said on Monday, as a simmering political dispute on the Pacific Island shows no signs of abating. Vale said its processing plant, located seven km (4.4 miles) away, was secure and being protected by local security forces.

Dec 15 - Zambia's copper output to rise to 1 million tonnes in 2021, government says
Zambia expects to produce 1 million tonnes of copper in 2021 thanks to growing demand for a metal that is used in electric vehicles, improving prices and more small mines coming into production, the government said on Monday. "We envisage hitting in excess of 1 million metric tonnes in 2021 from the planned 880,000 metric tonnes for this year," Mines Minister Richard Musukwa told Reuters. 

Dec 15 - Some big Mali gold mines say not affected by general strike
A five-day general strike launched by Mali's main workers union on Monday has not affected operations of some of the big international gold mining firms in the country, company representatives said. The National Union of Malian Workers (UNTM), which says it represents 80% of Mali's unionised workers, including miners, teachers and health workers, said the strike followed "the government's inability to put an end to the disparities" in wages and working conditions. 

Dec 15 - Stainless steel maker Outokumpu raises Q4 forecast
Finnish stainless steel maker Outokumpu raised its fourth-quarter target for earnings before interest, tax, depreciation and amortisation (EBITDA) to be higher than the 22 million euros ($26.7 million) in the preceding quarter, instead of remaining at the same level. "Stainless steel deliveries are estimated to increase by approximately 5-10% due to a stronger than expected market recovery", said Outokumpu, which has been hit hard by the pandemic.

Dec 14 - Australia proposes revenue top-up scheme to keep Alcoa Portland smelter open 
In a push to keep Alcoa Corp's Portland aluminium smelter open, Australia's government has offered to ensure the smelter earns at least A$76.8 million ($57.9 million) through June 2025 for reducing its power usage and helping to prevent blackouts. The offer comes as Alcoa, federal and state governments and power firms discuss the future of the smelter, which has stayed open since 2017 due to government subsidies and a cheap power contract expiring next year.

Dec 14 - Dalian exchange proposes dynamic premiums, discounts for iron ore futures 
China's Dalian Commodity Exchange proposed regularly adjusting premiums and discounts for iron ore futures, and adding deliverable brands, following complaints from steel producers that speculators are fuelling a recent market rally. The exchange, announcing the proposal on its website late on Friday, said it would solicit comments and suggestions from the market on through Friday.

Dec 14 - Gold hubs including UAE pledge support for crackdown on illegal trade 
Eleven gold trading hubs including the United Arab Emirates have declared their support for an initiative by the world's most influential bullion market authority to improve regulation on issues such as money laundering and unethical sourcing of gold. The London Bullion Market Association (LBMA) said on Friday authorities in the eleven hubs had responded positively to a letter it sent last month laying out regulatory standards.

Dec 14 - Anglo American maps out thermal coal exit, sees higher output 
Anglo American will divest from its South African and Colombian thermal coal operations by mid-2023, the miner said on Friday as it sought to demonstrate to investors its commitment to a shift towards clean energy sources. The global miner said a de-merger and listing on the Johannesburg Stock Exchange was the most likely route for its South African thermal coal assets.

Dec 14 - China Moly buys 95% of DRC copper-cobalt mine from Freeport for $550 mln 
China Molybdenum Co, said on Sunday it had acquired a 95% stake in the Kisanfu copper-cobalt mine in the Democratic Republic of Congo (DRC) from U.S.-based Freeport-McMoRan Inc for $550 million. The Chinese company's takeover of the undeveloped Kisanfu project - discussed as early as 2016 - boosts its reserves in the DRC, the world's top producer of battery metal cobalt, where China Moly already operates the giant Tenke Fungurume mine.

Dec 14 - Speculators raise bullish bets on COMEX gold, silver - CFTC 
Hedge funds and money managers raised their bullish positions in COMEX gold and silver contracts in the week to Dec. 8, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also increased their net long positions in copper futures and options, the CFTC data showed.

Dec 14 - Kawasaki Heavy, Iwatani tie up with Fortescue to develop supply chain of green hydrogen 
Japan's Kawasaki Heavy Industries Ltd and Iwatani Corp said on Monday they have signed a memorandum of understanding (MoU) with Australian miner Fortescue Metals Group Ltd to develop a supply chain of "green" hydrogen. "Green" hydrogen is a zero-carbon fuel made by electrolysis, using renewable power from wind and solar to split water into hydrogen and oxygen. It is increasingly being touted as a way to decarbonise emissions-intensive heavy industry and transport sectors.

Dec 14 - Brazil's Samarco to restart mining five years after deadly dam burst 
Brazilian miner Samarco is planning to restart operations in late December, the company said on Friday, five years after a dam burst killed 19 people and resulted in Brazil's worst ever environmental disaster. Samarco Mineracao SA, a joint venture between BHP Group and Vale SA, said it had begun the commissioning process at the Germano Complex in the town of Mariana, starting with the ramp-up of two concentrating plants and a new plant to filter waste from mining activities.

Dec 14 - Italy agrees deal with ArcelorMittal to take control of ILVA 
Italy has reached a deal with ArcelorMittal that will see the government take back control of troubled steel firm ILVA and guarantee thousands of jobs. The deal ends months of wrangling between Rome and the steel giant, which took over ILVA in 2018 but swiftly walked away from the original accord, forcing ministers to intervene to save the company.

Dec 11 - Rusal sees China aluminium import arbitrage opening more often - exec 
Russian aluminium giant United Company Rusal sees the arbitrage window to sell metal into top consumer China opening more often in future after a bumper year for shipments, a company executive said on Thursday. China, by far the world's biggest aluminium producer, rarely brings in big volumes of the metal from overseas but this year's imports have been the highest since 2009 as the country's swift rebound from the coronavirus demand shock took aluminium prices in Shanghai well above London Metal Exchange prices.

Dec 11 - Bigger things predicted for tiny tin market: Andy Home 
Tin has escaped relatively unscathed from this year's pandemic. Lockdowns around the world have prompted households to stock up on long-lasting food and buy more home electronics, providing a boost for the metal in tinplate and soldering and helping mitigate the broader downturn in global manufacturing activity.

Dec 11 - Sizzling industrial metals rally set to stretch into 2021 
Industrial metals, the best-performing commodities sector over the past six months, look set to extend their surge into 2021 as a China-led global economic recovery, a weak U.S. dollar and potential supply disruptions continue to lend support. The S&P Goldman Sachs industrial metals index – a subset of the widely-tracked S&P Goldman Sachs Commodities Index (S&P GSCI) – has climbed over 38% since June 1. And copper, aluminium, nickel and zinc have all eclipsed price gains made by gold, which scaled all-time highs in August.

Dec 11 - Shanghai exchange waives futures products delivery fee from Jan 2021-Jan 2022 
China's Shanghai Futures Exchange said on Friday it would waive the delivery fee for all its commodities futures products from Jan. 9, 2021 until Jan. 10, 2022. The exchange also said the delivery fee for all its internationalized products - open to foreign traders - will also be waived for the same time period.

Dec 11 - Vedanta says it will fight any attempt by Zambia to sell Konkola Copper Mines 
Indian-based metals and mining group Vedanta Resources said on Thursday it will fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. The protracted legal fight with Zambia began in May 2019, when Lusaka appointed a liquidator for KCM, which is jointly owned by Vedanta and Zambia's state mining arm ZCCM-IH. Zambia, in taking that action, accused Vedanta of breaching its license.

Dec 11 - Chile's Codelco reaches labor deal with union at Radomiro Tomic mine 
Chile's state-owned Codelco, the world's largest copper producer, said on Thursday it had reached an early contract agreement with a union at its Radomiro Tomic mine. The 36-month agreement does not impact salaries, but does include final bonuses for the equivalent of about $4,800 per worker.

Dec 11 - State-owned Invitalia inks deal with ArcelorMittal to take control of ILVA 
State-owned Invitalia has reached a deal with ArcelorMittal that will pave the way for the Italian government to become the main shareholder of troubled steel plant ILVA, the two companies said in separate statements late on Thursday. Under the deal Invitalia, which is wholly owned by Italy's Treasury, will pay 400 million euros ($486.20 million) for joint control of ArcelorMittal vehicle AM Investco.

Dec 10  - Investors back overhaul of Australian mining sector following caves inquiry 
Rio Tinto's legal destruction of ancient Australian rockshelters showed the mining sector was exposed to material investment risks without more reforms, institutional investors said on Thursday, backing the findings of a review into the incident. The interim parliamentary review into how global miner Rio legally destroyed the sites in May recommended it pay restitution to the traditional owners, and that the industry improve how it obtains consent from Aboriginal groups to impact heritage sites on their ancestral lands.

Dec 10  - For commodities, 2021 is a times a-changin' bet on the pace of coronavirus recovery: Russell 
If 2020 has taught us one thing it should be the near-futility of making year-ahead predictions. Nonetheless, crystal ball-gazing is likely to once again be a popular year-end pursuit for analysts. When I indulged at the end of 2019 in looking at what 2020 would hold for commodity markets, the obvious big issue was the then-trade dispute between China and the United States, and the emerging hope of a deal.

Dec 10  - Gold ETF buying spree ended in November as prices fell - WGC 
Gold-backed exchange traded funds (ETFs) shrank in November, ending a year-long buying spree that helped to push gold prices to record highs, the World Gold Council (WGC) said on Wednesday. ETFs, which store gold for investors, reduced their stockpile by 107 tonnes in November, the second biggest monthly outflow on record, the WGC said. 

Dec 10  - Trafigura has bought out founder's family stake in full - CFO 
Commodities trader Trafigura has fully bought out the family stake of its late founder Claude Dauphin after record earnings in 2020, boosted by pandemic-related volatility and a consolidating sector, its chief financial officer told Reuters. "The Dauphin family stake has been fully reimbursed," CFO Christophe Salmon said. As Ivan Glasenberg, in an unrelated move, prepares to step down as Glencore CEO, the buyout marks the end of the trading world's ties to the Marc Rich era.

Dec 10  - Australia's iron ore export hub clears port as tropical low approaches 
Pilbara Ports Authority said on Thursday it has started to clear large vessels out of Port Hedland, the world's biggest iron ore export hub, as it issued a cyclone warning. A tropical low located some 740 km (460 miles) southeast of Christmas Island, off Australia's northwest coast, is forecast to bring gale-force winds and significant swell as the cyclone approaches the Pilbara region, the port authority said in a statement. 

Dec 10  - Brazil's Vale negotiating funds for Brumadinho disaster - sources 
Iron ore miner Vale and the government of Brazil's Minas Gerais state are negotiating an agreement to settle damage claims stemming from the 2019 Brumadinho dam disaster involving the injection of billions of reais into funds to be managed by the state government. The talks on Wednesday focused on the governance of those funds, and would be followed by another stage of negotiations focused on the value of the settlement, sources close to the talks told Reuters.

Dec 10  - Norsk Hydro raises long-term cost cutting target 
Norwegian aluminium maker Norsk Hydro announced deeper cost cuts as well as plans to grow within metal recycling, renewable energy and in its recently established batteries-making unit, the company said in a strategy update on Thursday. Hydro, one of the world's largest aluminium makers, now aims to cut costs by 8.5 billion Norwegian crowns ($963.23 million)between 2019 and 2025, up from a previous goal of 7.3 billion crowns from 2019 to 2023, the company said.

Dec 10  - One union at Chile's Centinela mine reaches contract deal, another still talking 
One of the unions in contract negotiations with Antofagasta Minerals at its Centinela mine has reached an agreement with the Chilean miner, while another was still in talks, union leaders said on Wednesday. The Minera Esperanza union entered government-mediated negotiations in late November in a last-ditch effort to reach a deal after rejecting previous offers from the company, raising the prospect of a strike. The deal staves off that threat.

Dec 10  - China copper smelter output dips in November on maintenance - Antaike 
China's copper smelters produced 1% less copper cathode in November than in the previous month due to maintenance in Shandong, Anhui and other regions, research house Antaike said on Wednesday. Last month's output from the 22 smelters surveyed for Antaike's monthly production report was 733,600 tonnes, down from a revised figure of 740,900 tonnes for October and also down 0.5% year-on-year.

Dec 09 - Rio Tinto should pay restitution for sacred Aboriginal caves blast - inquiry
Mining giant Rio Tinto Ltd should negotiate a restitution package with the Indigenous Australians affected by its destruction of two ancient rock shelters to expand an iron ore mine, an inquiry panel said on Wednesday. The panel released an interim report in which it also recommended Rio Tinto ensure a full reconstruction of the rock shelters at its own expense, and laid out broader industry guidance that included reviewing consent practices and a moratorium on mining in the affected places. 

Dec 09 - Tianqi gets $1.4 bln lithium mine lifeline from Australia's IGO
Debt-laden Tianqi Lithium has secured a lifeline from Perth-based nickel and gold miner IGO Ltd, which will invest $1.4 billion in the unit that controls Greenbushes, the world's largest hard-rock lithium mine. China's Tianqi, one of the biggest producers of lithium chemicals used in electric-vehicle batteries, was due to make a$1.88 billion loan repayment by the end of November but secured a one-month extension, buying it time. 

Dec 09 - Australia's Fortescue sees strong steel demand in 2021
Australia's Fortescue Metals Group sees strong iron ore demand next year on solid Chinese demand as well as a post-COVID-19 recovery in other markets, Director of Sales and Marketing Danoy Goeman said on Wednesday. "We continue to expect strong market dynamics. Obviously supply continues to be constrained. On the demand side, even outside of China, our customers keep telling us there is very strong steel demand," he told an investor briefing. 

Dec 09 - Aurubis achieves annual earnings forecast, upbeat on new year
Aurubis AG, Europe's largest copper producer, on Wednesday said it was optimistic on earnings for its new financial year despite the economic slowdown caused by the COVID-19 pandemic. The company said it had come through the crisis well and reported operating earnings before taxes of 221 million euros ($268 million) for its 2019/20 financial year, up 15% on the year and achieving its forecast of 185 million to 250 million euros.

Dec 09 - Gold miner Newmont to spend $500 mln over 5 years on climate initiatives
Top gold producer Newmont Corp on Tuesday said it would spend $500 million over five years to meet climate change targets as the miner accelerates efforts to reduce greenhouse gas emissions at its operations. Investors are putting pressure on gold miners, whose high greenhouse gas emissions have been less scrutinized, to report transparently and take concrete steps to curb them after a rally in prices this year drew closer attention to the sector's footprint. 

Dec 09 - Resolute says new strike at Mali's Syama mine won't hit output guidance
Australia's Resolute Mining confirmed that a strike over COVID-19 policy began at its Syama gold mine in Mali on Monday but said production had continued and it did not expect any material impact to its 2020 production guidance. Resolute said in a statement on Tuesday the strike mainly related to a return to pre-COVID-19 rosters and workers' demands were consistent with those voiced in September when they staged a 10-day strike before signing an agreement with the company.

Dec 09 - China's Baosteel kicks off steel project for new energy vehicle market
China's top listed steelmaker Baoshan Iron & Steel Co Ltd started construction of a high-grade non-oriented silicon steel project on Tuesday with total investment at 2.72 billion yuan ($416.90 million), local government said. The project, designed for new energy vehicle (NEV) usage, aims to produce 500,000 tonnes of the steel product per year, according to a statement issued by the Baoshan government in Shanghai.

Dec 08 - Rio Tinto may face a fine when Australia cave inquiry reports on Weds
Rio Tinto may face calls to pay compensation or a fine when an Australian parliamentary inquiry releases an interim report on Wednesday into how the firm legally destroyed ancient sacred rock shelters for an iron ore mine, industry sources said. The inquiry into the destruction of the 46,000-year-old Juukan Gorge rock shelter in May has heard testimony from dozens of people and more than 140 submissions from miners, heritage specialists and Aboriginal and civil society groups. 

Dec 08 - China's imports of major commodities show early signs of moderating: Russell
China has almost single-handedly rescued commodity markets throughout the global coronavirus pandemic, but there are signs that its appetite for imports is levelling off, albeit at robust levels. November trade data released on Monday painted a largely steady picture, with imports of major commodities showing only relatively minor changes from both month earlier, and year earlier comparisons.

Dec 08 - China imports ever more aluminium as alloy demand booms: Andy Home
China imported another 220,000 tonnes of unwrought aluminium in October, extending one of the most unexpected trends in a year of metals market upheaval. Net imports of primary aluminium and alloy totalled 1.74 million tonnes in the first 10 months of the year. That already exceeds the 1.43 million tonnes imported in the whole of 2009, the last time the world's largest producer turned to the international market for supply.

Dec 08 - Biden infrastructure plans will prop up base metals markets
Plans by U.S. President-elect Joe Biden to spend $2 trillion on infrastructure are expected to underpin metals prices in the coming months as the world's biggest economy moves towards greener policies that are metal-intensive. While an infrastructure spending package is debated and implemented, Biden's policies are also expected to spur the private sector to accelerate plans to cut carbon emissions.

Dec 08 - Indonesian copper miner Amman Mineral preparing for IPO - Medco chief
Indonesia's copper and gold miner PT Amman Mineral Nusa Tenggara is preparing to launch an initial public offerings, although the company has not decide on the timing yet, the chief executive of its parent company said on Tuesday. "The timing of the IPO will be very much decided by the market condition," said Hilmi Panigoro, chief executive of PT Medco Energi Internasional, which controls Amman Mineral.

Dec 08 - One Japanese buyer agrees to pay Q1 aluminium premium of $130/T, up 48% from Q4 - source
A Japanese aluminium buyer has agreed to pay a global producer a premium of $130 per tonne over the benchmark price for shipments in January to March, up 48% from the current quarter, a source directly involved in the pricing talks said on Monday. The figure is higher than the $88 per tonne paid in October to December and marks a second consecutive quarterly increase and the highest since the July-September quarter in 2018. But it is lower than the initial offers of $138-$140 made by producers last month. 

Dec 08 - Dominion Diamond reaches deal to sell Ekati mine in Canada
Dominion Diamond Mines ULC said on Monday it reached a deal to sell its Ekati mine in Canada's Northwest Territories to holders of its second lien notes, eight months after seeking bankruptcy protection amid a worldwide upheaval in the diamond industry. Closely held Dominion, owned by the Washington Companies, filed for creditor protection in April, citing disruption to the global diamond trade caused by the novel coronavirus pandemic. 

Dec 08 - Miners launch strike at Resolute gold mine in Mali
Workers at Resolute Mining's Syama gold mine in Mali launched a five-day strike on Monday in a dispute over policy on COVID-19, although some production has continued, the head of Syama's union told Reuters. The action follows a proposed strike at the mine in September that led to a 15,000-ounce production delay before the Australian miner's Malian subsidiary reached an agreement with the National Union of Malian Workers (UNTM). 

Dec 08 - AngloGold Ashanti chair Pityana resigns, Maria Ramos to take over
AngloGold Ashanti's Chairman Sipho Pityana has resigned with immediate effect and will be replaced by independent non-executive director Maria Ramos, the gold miner said on Tuesday, without giving a reason for his departure. Ramos, who has been an AngloGold director since May 2019, is a former chief executive of one of Africa's largest banks, Absa Group. Prior to that, she was CEO of state-owned freight transport and logistics service provider Transnet.

Dec 07 - China's November iron ore imports fall 8.1% m/m on falling shipments
China's iron ore imports fell for the second straight month in November, dropping 8.1% from a month earlier on easing shipments from major exporters, official customs data showed on Monday. China brought in 98.15 million tonnes of the key steelmaking ingredient last month, compared with 106.74 million tonnes of imports in October, according to data released by the General Administration of Customs. That was up 8.3% from November 2019. 

Dec 07 - What's behind a feud at Rio Tinto's copper mine in Mongolia
Canadian mining company Turquoise Hill Resources Ltd is locked in a feud with its largest shareholder, Rio Tinto Plc, over the underground expansion of its massive Oyu Tolgoi copper mine in Mongolia. Tensions between mine operator Rio and Turquoise Hill's management and minority shareholders have spilled into the open in recent months. Rio owns 51% of Turquoise Hill, which in turn owns 66% of the mine.

Dec 07 - China Nov copper imports fall to 6-month low as arbitrage window slams shut
China's November copper imports fell for a second consecutive month to a six-month low, customs data showed on Monday, as the closure of a favourable price arbitrage window made bringing in metal from overseas, as well as bonded storage, less attractive. Arrivals of unwrought copper and copper products totalled 561,311 tonnes last month, the General Administration of Customs said. 

Dec 07 - Nippon Steel plans to boost overseas capacity, scale down at home
Nippon Steel Corp is planning to raise output capacity in overseas markets such as India and the United States and reduce it in Japan to align with future demand levels, a company executive said. "Our imminent task is to improve our overseas profits by capitalising on recovering global demand from automobiles," Executive Vice President Katsuhiro Miyamoto told Reuters in an interview on Wednesday.

Dec 07 - Trump admin set to approve Arizona land swap for mine opposed by Native Americans
U.S. President Donald Trump's outgoing administration is set to approve a controversial land swap later this month that would give Rio Tinto Ltd and partners more than 2,400 acres (9.7 square kilometers) to build an Arizona copper mine, even though the project would destroy religious and cultural sites sacred to Native Americans.

Dec 07 - Glencore boss Glasenberg to step down, Gary Nagle named new CEO
Glencore boss Ivan Glasenberg is to step down next year and Gary Nagle, head of coal assets at the mining and trading group, will become the new CEO. Glasenberg's departure will mark a shift to a new, younger leadership for the business, which, along with other mining companies, has faced increasing pressure from investors to cut carbon emissions.

Dec 07 - Speculators raise bullish bets on COMEX gold, silver - CFTC
Hedge funds and money managers raised their bullish positions in COMEX gold and silver contracts in the week to Dec. 1, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculators also increased their net long positions in copper futures and options, the CFTC data showed.

Dec 07 - Coal mine accident in China's Chongqing kills 23
Twenty-three people died after being trapped in a mine in China's southwestern city of Chongqing, the official Xinhua news agency said on Saturday, the region's second such accident in just over two months. The dead were among 24 people trapped underground by excessive levels of carbon monoxide gas at the Diaoshuidong coal mine, the agency said, adding that one survivor had been rescued, after more than 30 hours of search and rescue efforts. 

Dec 07 - Lithium Americas get final environmental report for Nevada mine
Lithium Americas Corp said on Friday the U.S. government has published the final environmental report for its Nevada lithium project, with full federal permitting expected by early 2021. Lithium is used to make electric vehicle batteries, and Lithium Americas and others are projecting a surge in demand over the next decade.

Dec 07 - Vedanta's Gamsberg mine stays shut as search continues for trapped worker
South Africa's Gamsberg zinc mine remains shut while owner Vedanta Zinc International (VZI) continues to search for a worker trapped underground following a rockfall on November 17, the company said on Friday. "The rescue and recovery team are working hard on ensuring the operation is expedited, but with the utmost measures being taken to ensure the safety of the teams," the zinc unit of India's Vedanta said.

Dec 04 - China rattles its sabre, but still needs Aussie ore
Despite simmering tensions between the two nations, China's insatiable appetite for iron ore is aiding Australia's economic recovery and that demand is expected to sustain momentum into the next year. While China has blocked Australian lobster, beef, timber and more recently wines in their latest trade spat, its iron ore demand is keeping the island nation's economy humming. 

Dec 04 - BHP says copper output needs to double in 30 years, criticises pricing system
Copper production must double in the next 30 years to meet demand driven by global trends towards decarbonisation and electrification, a senior BHP executive said on Thursday. Copper, widely used in power and construction, is well placed to benefit from the decarbonisation targets of some the world's biggest economies including top carbon emitter and top metals consumer China. 

Dec 04 - Gold and precious metal funds see biggest outflows in 7-1/2 years - Lipper
Gold and other precious metal funds saw their biggest outflows in more than 7-1/2 years in November, as investors pulled out of safe-haven investments and sought riskier assets on optimism over the development of a COVID-19 vaccine. Data from Refinitiv Lipper shows that gold and other precious metal funds, including ETFs, saw outflows of $4.25 billion, the biggest monthly outflow since May 2013.

Dec 04 - Global tin demand recovering, helped by COVID keeping people at home - ITA
Tin demand is recovering, helped by rising electronics sales as more people stay at home due to the COVID-19 pandemic, and is set to rise by about 6% next year, the International Tin Association forecast on Thursday. The biggest use of tin, making up nearly half of demand, is for solder used chiefly in the electronics industry to connect components.

Dec 04 - S.Africa's Kumba Iron Ore sees annual production at low end of forecast
South Africa's Kumba Iron Ore said on Friday annual output was likely to be at the bottom of its forecast range this year, and that it had cut its forecasts for 2021 and 2022. The company, a unit of Anglo American, said it would revise its 2020 full-year production outlook to around 37 million tonnes, from 37 million-39 million tonnes, and its sales forecast to about 39 million tonnes from previous outlook of 38 million-40 million tonnes.

Dec 03 - Brazil's Vale output goals lag forecasts, sets emission targets
Brazilian miner Vale on Wednesday unveiled iron ore production targets that lagged previous forecasts while underlining its efforts to pay reparations related to a dam disaster and lower carbon emissions in the coming years. Vale's new forecast output of 300 million to 305 million tonnes of iron ore this year, disclosed as part of its investor day presentation, falls short of a previous 2020 target of at least 310 million.

Dec 03 - Australian inquiry into sacred cave destruction seen recommending mining reforms
An Australian inquiry into Rio Tinto's destruction of ancient rock shelters is likely criticise the miner's procedures and recommend legal and sector reforms when it issues its findings next week, according to legal, Indigenous and mining sources. The inquiry into the lawful destruction of the 46,000-year-old Juukan Gorge rock shelters for an iron ore mine expansion in May has heard dozens of testimonies and seen more than 140 submissions from miners, heritage specialists and Aboriginal and civil society groups. It is due to report on Dec. 9. 

Dec 03 - Global aluminium producers offer Q1 premiums of $138-$140/T - sources
Global aluminium producers have offered Japanese buyers premiums of $138-$140 per tonne for January-March primary metal shipments, up 57%-59% from the current quarter, amid recovering demand, three sources directly involved in quarterly pricing talks said on Wednesday. Japan is Asia's biggest importer of the metal and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region. 

Dec 03 - Vale's disappointing iron ore output adds fuel to scorching price rise: Russell
The hottest major commodity of 2020 is getting even hotter, with iron ore boosted by news that one of the world's biggest producers will not meet its output targets this year. Brazil's Vale said on Wednesday that it would produce 300 million to 305 million tonnes of iron ore this year, down from a prior forecast of at least 310 million. 

Dec 03 - Antaike sees China aluminium market in deficit as prices hit 9-yr high
Antaike said on Wednesday it sees the aluminium market in top consumer China being in a slight deficit this year, having previously projected a surplus, as Shanghai prices for the metal scale nine-year highs on dwindling stocks. Aluminium ingot inventories in China, also the world's biggest aluminium producer, fell to about 600,000 tonnes at the start of December, the research house said, noting this was the lowest seasonal total in recent years. 

Dec 03 - Lead hits 1-year high on mine disruption but oversupply looms
Mine disruptions have helped lead prices rally to one-year highs but plunging imports of the metal in top consumer China will mean an oversupplied market that will cap further gains despite sustained demand from the battery sector. Also contributing to lead's 20% rise since the middle of October to around $2,100 a tonne on the London Metal Exchange are hopes for a swift global economy recovery due to vaccines that could end the coronavirus crisis.

Dec 03 - Co-owner of Russia's NLMK sells 2.1% stake
Russian businessman Vladimir Lisin, who controls NLMK, has sold about 128 million shares, or a 2.1% stake in the steel producer via an accelerated bookbuilding (ABB), NLMK said in a statement on Thursday. Lisin's stake in NLMK, Russia's largest steel producer, fell to 79.3% after the deal, while NLMK's free float rose to 20.7%, increasing the liquidity in the company's shares, NLMK added.

Dec 03 - Liberty Steel to start due diligence on Thyssenkrupp steel business
Liberty Steel, which last month announced a non-binding indicative offer for Thyssenkrupp Steel Europe, will soon start looking into its financial records, it said on Wednesday. "Liberty Steel will shortly begin a detailed due diligence and thus gain insight into key business data of Thyssenkrupp's steel business," Liberty said in a statement.

Dec 03 - Centamin charts new "value-over-volume" course for Sukari gold mine
London-listed Centamin said on Wednesday it plans to spend more over the next three years improving efficiency and cash flow at its Sukari mine after years of operational issues and under-investment. The miner, which operates Egypt's sole commercial gold mine, revamped its board and added a new chief executive eight months ago after a failed takeover by Endeavour Mining.

Dec 02 - Nornickel to sell less palladium, nickel than it produces in 2020 - head of sales
Russia's Norilsk Nickel will sell slightly less nickel and palladium than it produces in 2020 as the COVID-19 pandemic reduced industrial demand, the world's leading producer of the two metals told Reuters. Demand has risen in some sectors since a slump caused by the first wave of the pandemic early this year, but is unlikely to reach its pre-crisis level until 2022, Nornickel said.

Dec 02 - Options are the accelerant for copper's raging bull fire: Andy Home
Doctor Copper is on fire. London Metal Exchange (LME) copper hit a year-to-date high of $7,708.50 per tonne on Monday, a level not traded since March 2013. At a current $7,670, the exchange's benchmark three-month contract is up by 24% on the start of the year and by an extraordinary 75% from the March low of $4,371 per tonne. 

Dec 02 - Perth Mint November gold sales rise to seven-month high
Sales of Perth Mint's gold products in November more than doubled from the previous month as demand surged from its international customers, especially Germany, while silver sales eased, the refiner said in a blog post on Wednesday. Sales of gold coins and minted bars jumped to 84,158 ounces last month, highest since April, up 119% on-month and 55% from a year earlier.

Dec 02 - U.S. CFTC issues record number of enforcement actions, as fines remain largely flat
The U.S. derivatives regulator issued a record 113 enforcement actions for corporate wrongdoing in 2020 - the most in the agency's history - the agency said on Tuesday, even as total monetary fines remained almost flat. The Commodity Futures Trading Commission (CFTC) had a total of $1.32 billion in penalties, the "fourth highest total on record and the third straight year-over-year increase," it said, although the figure is only slightly up on last year's $1.33 billion in fines.

Dec 02 - Turquoise Hill says special committee to review Oyu Tolgoi cost overruns
Turquoise Hill said on Tuesday the board of Oyu Tolgoi mine in Mongolia has approved forming a special committee to conduct an independent review of cost overruns and delays related to the development of the underground copper mine. The Oyu Tolgoi deposit in south Mongolia, jointly owned by Rio Tinto-controlled Turquoise Hill and the Mongolian state has come under scrutiny over its funding plan, with Hedge Fund Odey recently raising concerns over the project finance package for the mine.

Dec 01 - Rio Tinto faces threat of legal action from investor in Mongolian project
Rio Tinto Ltd said on Tuesday that it would not offer any comment in response to a threat of legal action from the largest minority shareholder in its Mongolian copper project Oyu Tolgoi. Rio Tinto operates what is slated to become the world's third-largest copper mine which is jointly owned by the Mongolian government and Canada's Turquoise Hill Resources Ltd, in which Rio owns a 50.8% stake. Activist investor Pentwater Capital Management LP holds a 9.23% stake in Turquoise Hill and is its largest minority investor. 

Dec 01 - Tianqi Lithium gets 1-month reprieve on $1.9 bln loan repayment
China's Tianqi Lithium Corp said on Monday it had signed a letter with a syndicate of banks to extend by a month the maturity date on $1.884 billion of loans that were due for repayment at the end of November. Tianqi, one of the world's top producers of lithium chemicals used in electric-vehicle batteries, had repeatedly said its operations could be severely impacted if it did not repay the money, which was used to acquire a 23.8% stake in Chilean miner SQM in 2018, by the due date.

Dec 01 - Don't mention iron ore: China and Australia dance around the big issue: Russell
Amid the latest ugly flare-up of harsh words and lowbrow politics between China and Australia, the main trade between the two countries of iron ore sails on seemingly unaffected. After a brief easing of tensions between the nations, political temperatures returned to boiling point recently as a Chinese foreign ministry spokesman tweeted a fake image of an Australian soldier threatening an Afghan child with a knife.

Dec 01 - Speculators cut bullish bets on COMEX gold, silver - CFTC
Hedge funds and money managers reduced their bullish positions in COMEX gold and silver contracts in the week to Nov. 24, the U.S. Commodity Futures Trading Commission (CFTC) said on Monday. The speculators also upped their net long positions in copper futures and options, the CFTC data showed.

Dec 01 - U.S. gold futures beginning to overcome coronavirus shock
Falling costs to roll forward U.S. gold futures contracts suggest the market is moving closer to normal trading after turmoil caused by COVID-19 raised investors' overheads, curbed activity and funnelled massive profits to investment banks. Since March, when volatility linked to the pandemic dampened banks' willingness to sell futures contracts, the cost of swapping expiring futures for later-dated ones - a "roll" that investors wishing to maintain their positions must perform every few months - has been far higher than usual.

Dec 01 - Pilbara Minerals to buy Altura for $175 mln on lithium recovery bet
Australia's Pilbara Minerals Ltd said on Tuesday it has agreed to buy the lithium assets of troubled peer Altura Mining Ltd for $175 million, in further sector consolidation that suggests a two-year bear market may be turning around. Altura entered receivership in October following prolonged weakness in the raw battery materials market that was worsened by the impact of the COVID-19 pandemic this year

Dec 01 - BHP inks LNG deal with Shell to fuel iron ore cargo to China
BHP Group said on Tuesday it awarded Royal Dutch Shell a contract to supply liquefied natural gas (LNG) that will fuel ships loaded with iron ore to China, as part of efforts to cut carbon emissions. The supply agreement will run for five years from 2022 and will power five Newcastlemax bulk carriers from Western Australia to China.

Dec 01 - Red-hot white-goods demand stokes China manufacturing, metals use
Booming sales of fridges, toasters and microwaves to households across the locked-down world have helped propel China's mammoth manufacturing engine back to life, super-charging demand for key metals like steel, copper and aluminium. This jump in COVID-19 demand, along with rebounding production of cars, trucks and other products, has revived manufacturing in the world's second-biggest economy, sharply boosting metals consumption in the top steel, copper and aluminium market.

Dec 01 - Coal miner Cerrejon and union reach deal to end 91-day strike
Colombian coal miner Cerrejon and its largest union have reached an agreement to end a three-month strike, the longest in the company's history, Cerrejon and the Sintracarbon union both said on Monday. Benefits, a proposed new schedule that the union called the "death shift" and job losses were the sticking points in negotiations to end the stoppage, which began Aug. 31. 

Dec 01 - Copper demand from electric vehicle segment accelerating
Greater use of electric vehicles and expansion of renewable energy capacity to cut noxious emissions will mean accelerating demand growth for copper in coming years which will sustain prices. Highlighting the energy transition was Chinese President Xi Jinping, who recently pledged to steer the country to "carbon neutrality" by 2060 and U.S. President-elect Joe Biden pledging $2 trillion to help cut emissions. 

Dec 01 - Lundin Mining forecasts 2021 copper production to jump 25%
Canadian miner Lundin Mining Corp on Monday forecast higher copper production for fiscal year 2021, mainly driven by better grades at Candelaria in Chile and uninterrupted full-year contribution from Brazilian mines of Candelaria and Chapada. The outlook comes shortly after a collective agreement was made with all unions representing employees at the Candelaria mine who went on strike and suspended operations in October. 

Dec 01 - Antofagasta´s Centinela union rejects contract offer, opens door to strike
A union at Antofagasta Minerals' Centinela copper mine in Chile rejected a contract offer from the company on Monday, paving the way for a strike at the small deposit, its president told Reuters. Under Chilean law, once a union approves a strike, the parties then attend five days of government-mediated talks, which can be extended for an additional five days. 

Dec 01 - De Beers plans to clean up diamond supply chain, be carbon neutral by 2030
Diamond mining giant De Beers on Monday outlined plans to ethically source its diamonds and be carbon neutral by 2030 due to growing investor pressure on companies to be environmentally and socially responsible. The initiative is the latest example of a miner setting sustainability goals in an industry blamed for depletion of natural resources, smuggling and child labor in supply lines.