Base & Precious Metals News

Oct 27 - Copper mine protests spread in Peru, target Glencore and BHP's Antamina

Peru's Antamina copper and zinc mine, which is part-owned by Glencore and BHP Billiton, , said on Tuesday that protesters had blocked a road it uses, demanding that the company honor its commitments to the local area. The demonstration is the latest in a string of protests against mining companies that have broken out since President Pedro Castillo took office in July. 

Oct 27 - Europe's magnesium crunch poses another carbon conundrum: Andy Home

Europe is facing a magnesium crunch, threatening output and jobs in the steel, packaging, construction and automotive sectors. The European Commission is holding talks with China, its dominant supplier, both about "immediate shortages" and "long-term solutions to tackle this strategic dependency."

Oct 26 - China power curbs are challenge for steel mills - industry group

Production costs at Chinese steel mill have increased, especially at electric arc furnaces, because of recent power rationing and government demands for energy consumption cuts, the country's steel association said on Monday. Steel mills have cut or halted production because of the power supply crunch since September, which will "significantly increase companies' costs" and weigh on their profitability, Qu Xiuli, the vice chairwoman of the China Iron and Steel Association (CISA), said at a news conference.

Oct 26 - Eramet raises earnings target despite New Caledonia woes

French mining group Eramet on Monday raised its target for full-year core earnings after strong quarterly sales but warned that pandemic-related disruption in New Caledonia had exacerbated the difficulties of its nickel business there. Eramet now expects full-year earnings before interest, tax, depreciation and amortisation to be close to 1 billion euros ($1.16 billion), compared with previous expectations of more than 850 million euros.

Oct 25  - Australia 'has plan' to achieve net zero by 2050 but no commitment yet: minister
The Nationals, which represent many of Australia's mining constituencies, have traditionally opposed strong action on climate. The elevation of Pitt, however, has given rise to media speculation that a deal on net zero was getting closer.

Oct 25 - Australia's iron ore majors to start sexual harassment prevention in schools

Australia's iron ore giants have agreed to establish and fund education programmes in schools and training centres in Western Australia aimed at preventing sexual harassment, racism and bullying, as they battle to improve the industry's diversity. Sexual harassment is rife at mining camps in Western Australia, which provides more than half of the world's supply of iron ore, submissions to a government inquiry showed in August. 

Oct 25 - U.S. appeals court hints at support for Rio's Resolution copper mine

A U.S. appeals court on Friday questioned whether it had the power to override an act of Congress that gave Rio Tinto Ltd land in Arizona for its Resolution copper mine, which has been challenged by Native Americans. "It'd be nice if Congress or someone would make more sense out of this," said U.S. Circuit Judge Marsha Berzon, as the court appeared likely to support the U.S. government plan to give Rio Tinto the Arizona land.

Oct 22 - Low global copper supply imperils climate goals, Freeport CEO says

Low global supplies of copper - a key metal used in wiring, electric vehicles and other electronics - will crimp global climate ambitions unless regulators green light more mines, the chief executive of Freeport-McMoRan Inc said on Thursday. The warning comes as global leaders plan to discuss climate mitigation efforts later this month at the, even as some host communities and environmentalists increasingly oppose new mines for so-called strategic metals.

Oct 22 - London Metal Exchange has to restrain disorderly copper: Andy Home

This was the week Doctor Copper turned disorderly. The London Metal Exchange (LME) was forced to apply the restraints as a ferocious squeeze rocked the market, with the premium for cash metal spiralling out of control to an unprecedented $1,103.50 per tonne at one stage on Monday as the exchange's monthly prompt date descended into chaos.

Oct 21 - Rio Tinto announces bold $7.5 bln spend to halve carbon emissions by 2030; shares fall

Anglo-Australian miner Rio Tinto announced on Wednesday a $7.5 billion plan to reduce carbon emissions by 50% by 2030, a reduction three times greater than its previous target, but shares fell as investors reacted to the higher spend. As steel and iron ore producers continue their push to cut carbon emissions in line with global climate commitments by 2050, Rio said it sought to halve its scope 1 and 2 carbon emissions - direct emissions by the company and certain types of indirect emissions, respectively - by the end of the decade.

Oct 21 - Trafigura says it and other traders ordered LME copper withdrawals

Trafigura was not the only commodities trader to order withdrawals of copper inventories from the London Metal Exchange (LME), it said on Wednesday, a day after the exchange took action to calm a volatile market amid shortages. The premium of the LME cash copper contract over the benchmark three-month futures spiked to a record of over $1,000 a tonne on Monday as available inventories hit the lowest levels in over two decades.

Oct 20 - Indonesia plans to 'hit the brakes' on raw commodity exports - president

Indonesia is planning to "hit the brakes" on the export of all raw commodities in an effort to attract investment in onshore resource processing and create jobs, President Joko Widodo said on Tuesday. Indonesia has banned a number of unprocessed ore exports including nickel, tin and copper in a bid to encourage downstream industries, including producing batteries for electric vehicles and aluminum industry, among others. 

Oct 20 - German metals industry warns of disruption from global magnesium shortage

German and European industry faces disruption from tight global supplies of magnesium, the country’s association of metals producers WVM said on Tuesday. European magnesium stocks are running down and shortages are in sight because of lack of supplies from China, the association said in a letter to the German government.

Oct 19 - BHP iron ore output drops 5% on maintenance work, labour crunch

BHP Group on Tuesday posted a near 5% drop in first-quarter iron ore output due to maintenance work at its Jimblebar mine and a shortage of rail labour caused by COVID-19 border restrictions. But the world's largest miner left its annual production outlook unchanged, unlike rival Rio Tinto which last week cut its shipments forecast because of the tight labour market.

Oct 19 - Wild markets gatecrash London Metal Exchange Week party: Andy Home

Average copper, nickel and zinc prices will decline next year as slowing demand growth coincides with increased supply, according to research house CRU, summing up the broad consensus among analysts last week. Unfortunately, no one told the markets, which rudely gate-crashed last week's proceedings.

Oct 18 - China aluminium output falls for 5th month amid power cuts

China's aluminium output in September declined for a fifth consecutive month, official data showed on Monday, as ongoing electricity shortages in the country led to deeper cuts in industrial production. The world's top producer of the metal churned out 3.08 million tonnes of primary aluminium last month, the National Bureau of Statistics (NBS) said.

Oct 18 - How the illicit copper trade is sapping South Africa

South Africa's economic woes are being compounded by the theft of massive amounts of copper from state firms Eskom and Transnet, much of which is smuggled overseas, costing the country billions of rand a year, according to market sources. Power firm Eskom, which expects to make a 15.2 billion rand ($1.1 billion) net loss in its current financial year, told Reuters that "unrelenting" copper theft was costing it 5-7 billion rand annually, plus 2 billion rand a year to replace stolen cables.

Oct 15 - Rio Tinto cuts 2021 iron ore shipments forecast on labour squeeze

Rio Tinto Group, on Friday reduced its 2021 iron ore shipments forecast, as a tighter labour market in Western Australia delayed the completion of a new greenfield mine at Gudai-Darri. "It has been another difficult quarter operationally and we recognise the opportunity to raise our performance," said chief executive officer Jakob Stausholm.

Oct 15 - U.S. Senator Manchin promises to block mining royalty plan

U.S. Senator Joe Manchin has promised to block a proposed royalty for minerals extracted on federal land from advancing in the U.S. Senate's version of the hotly debated reconciliation package, a senate staffer said on Thursday. Manchin, a West Virginia Democrat and chair of the Senator's Energy and Natural Resources committee, promised U.S. Senator Catherine Cortez Masto, a Nevada Democrat, that the royalty proposal would not be included in the Senate's final reconciliation language, according to Cortez Masto's office.

Oct 14 - Banks prepare to scrap LME gold and silver contracts, sources say

A group of banks that partnered with the London Metal Exchange (LME) to launch gold and silver futures in 2017 is preparing to abandon the project after hoped-for volumes did not materialise, three sources with direct knowledge of the matter said.  Such a move would end an attempt by the LME, which dominates industrial metals trading, to capture part of London's bullion market, which is the world's largest with gold worth some $17 trillion changing hands last year. 

Oct 14 - Big miners reconsider Congo, Zambia risks as copper price surges

Major mining companies are looking to invest in countries they previously considered too risky, including Democratic Republic of Congo and Zambia, propelled by a dwindling pipeline of big copper mines elsewhere and record-high prices. Investor wariness about uncertain regulatory environments, challenging working conditions and corruption have meant some listed companies favoured countries such as Australia or Canada, despite the higher costs of operating there.

Oct 13 - Miners disclose CO2 emissions on LME's sustainability register

Nine metal producers including Antofagasta and Teck Resources have disclosed the carbon emissions from their metal producing operations on the London Metal Exchange's newly launched digital register. The register known as LMEpassport is aimed at users of the exchange wanting to support the energy transition.

Oct 13 - Rare earths sector at risk of more substitution if prices spike

The rare earth sector is likely to face more substitution unless production ramps up sharply to close a looming supply gap, an industry executive has warned. Demand for rare earth permanent magnets, key for electric vehicles (EVs) and wind turbines, is due to soar as governments and companies step up efforts to cut carbon emissions.

Oct 12 - Codelco to produce more copper than expected, despite strike

Chile's state miner Codelco will produce 2%-3% more copper this year than it had previously expected, despite a strike at its Andina operation, Juan Benavides, chairman of the world's largest copper producer, told Reuters. Record high copper prices this year have seen revenues at mining companies soar and unions in Chile pushing for more lucrative contracts, creating tense negotiations that risk strike action and loss of production.

Oct 12 - Crisis looms in Britain, steel makers warn

The British steel industry's lobby group warned on Monday of an impending crisis due to soaring wholesale energy prices which could force plants into expensive shutdowns, stoke emissions and sow chaos through supply chains. A shortage of natural gas in Europe had sent prices for electricity and gas soaring, triggering sharp rises in the prices paid by people heating their homes or for major heavy industrial plants smelting steel.

Oct 11 - Online metals platforms ramp up with physical trading, logistics

Online industrial metals platforms are gaining momentum this year by targeting the physical trade of minerals worth about half a trillion dollars a year, gradually enticing traders to move away from largely paper-based systems. The digital venues have attracted traders as London Metal Exchange volumes fell after the coronavirus pandemic temporarily closed its floor for open outcry trading in March 2020.

Oct 11 - Europe races to fix its rare earths import dependency: Andy Home

Europe is on a mission to wrest back control of its rare earth magnet supply chain from China. The rest of the world has come to realise, these critical minerals are also critically dependent on China, which dominates the global supply chain from rare earth processing through magnet production.

Oct 08 - Copper analysts reset outlook on China's dual demand ructions

Copper analysts are reviewing their price forecasts for the red metal after simultaneous disruptions in two key sectors in China that together make up more than half the country's copper demand. The collapse of a major Chinese property developer that has ignited debt worries for the construction sector and a coal shortage that has cut power supplies to manufacturers stack up as bearish factors for copper over the near term, analysts said.

Oct 08 - Chile copper exports rise in September on high prices

Chilean copper exports hit $4.157 billion in value in September, up 18.5% from a year earlier, boosted by strong global prices for the metal, the country's central bank said on Thursday. The world's top copper producer posted total exports in the month of $7.429 billion, up 24.4% year on year, and a trade surplus of $79 million, the bank added.

Oct 07 - Peru community says it won't end Glencore mine blockade until demands met

An indigenous community in Peru's Espinar province that blocked a key mining road on Wednesday plans to continue the blockade indefinitely, a local leader said, in protest against the government and Glencore PLC's Antapaccay copper mine. The conflict comes a day after the government defused a similar standoff in nearby Chumbivilcas.

Oct 07 - Zambia is reviewing mining tax framework, minister says

Zambia's mines minister said on Wednesday that the government had been reviewing the mining tax framework with key stakeholders to design a regime that would be stable, predictable and competitive. "This will also attract both local and foreign investment in mining and ultimately scale up mineral production in the country," Minister Paul Kabuswe said in the parliament of Africa's second-largest copper producer.

Oct 06 - World's largest miners pledge net zero carbon emissions by 2050

The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners. 

Oct 06 - Diamond giant De Beers hunts for treasure in Greenland's waters

Mining giant De Beers has commissioned a survey of the ocean floor off Greenland's coast in a first step to determine whether it could hold deposits of highly-prized marine diamonds. The eight-day survey of around 800 kilometers of seabed off Greenland's west coast, near the town of Maniitsoq, ended on Thursday last week, a spokesperson for the Geological Survey of Denmark and Greenland (GEUS), told Reuters.

Oct 05 - Chile's top miners see copper production fall in August

Chile's top miners saw their production of copper fall in August, Chilean state copper commission Cochilco said on Monday, impacted in part by a strike at a mine owned by state miner Codelco. Codelco, the world's largest copper miner, saw output in August fall off by 6.7% year-on-year to 144,500 tonnes, Cochilco said, dogged by a prolonged strike at its Andina mine near Santiago late in the month.

Oct 05 - Fortescue targets net zero emissions from customers by 2040

Fortescue Metals Group said on Tuesday it plans to achieve net zero emissions by 2040 from the operations of its customers including steel makers, as it looks to boost hydrogen and green energy production to cut its carbon footprint. Fortescue, the world's fourth-biggest iron ore miner, is attempting to tackle its so-called Scope 3 emissions, which are the indirect greenhouse gases produced from a company's product or service that are released further along the value chain.

Oct 04 - Sigma Broking to become first new LME ring member in 14 years - source

Sigma Broking Ltd is set to become the first new ring trading member of the London Metal Exchange in 14 years later this month, a source with direct knowledge told Reuters, amid doubts about the future of the ring. Sigma has applied to join eight other banks and brokers that trade in the ring or open outcry, the source said.

Oct 04 - BHP signs nickel supply deal with Toyota-Panasonic battery maker joint venture

BHP Group Ltd said on Monday it had agreed to supply nickel sulphate from Western Australia that would be used by Japanese auto major Toyota Corp. The world's biggest miner has agreed to sell nickel to a major Japanese battery maker that is a joint venture between Toyota Motor Corp and Panasonic Corp, called Prime Planet Energy & Solutions, it said in a statement.

Oct 01 - China hikes 2021 rare earth quotas by 20% to record highs

China hiked its annual rare earth output quotas on Thursday by 20% year-on-year to their highest levels on record, as it seeks to ease tight supply for manufacturers. A statement from the Ministry of Industry and Information Technology said the 2021 rare earth mining output had been set at 168,000 tonnes, up from 140,000 last year.

Oct 01 - Russia submits proposed mining tax changes to the parliament

The Russian government has submitted proposed changes to mineral extraction taxes (MET) for Russian metals firms from 2022 to the lower house of parliament, according to the draft proposals published on Thursday. The state budget is expected to get a boost of up to 546 billion roubles ($7.5 billion) in the three years from 2022 from the changes, the government said in the draft, which was published on the parliament's website.

Sep 30 - Zambia's Konkola Copper Mines liquidator arrested, calls money-laundering charges "baseless"

The state-appointed provisional liquidator of Konkola Copper Mines (KCM), Milingo Lungu, has been arrested and charged with laundering more than $2 million, Zambia's money-laundering authority said on Wednesday. "The money is said to have come into his possession by virtue of being the Provisional Liquidator for Konkola Copper Mines Plc," the Drug Enforcement Commission, which handles such cases, said.

Sep 30 - Fortescue halts operations at Pilbara site after employee's death

Fortescue Metals Group Ltd said on Thursday an employee had died after a ground collapse at its Solomon Hub site in the Pilbara region of Western Australia, forcing it to temporarily suspend mining operations at the project. The world's no.4 iron ore miner announced the suspension earlier in the day, citing a "significant incident" at the site.

Sep 29 - Canada's Agnico Eagle to buy Kirkland Lake Gold in $11 bln stock deal

Canada's Agnico Eagle Mines Ltd will buy rival Kirkland Lake Gold Ltd for C$13.51 billion ($10.68 billion) in stock, in the latest consolidation that creates a miner with operations in North America, Europe and Australia. The combined company is expected to have a reserve base of 48 million ounces of gold and an extensive pipeline of development and exploration projects, the miners said on Tuesday.

Sep 29 - North Carolina county zoning changes to affect Piedmont Lithium project

A North Carolina county on Tuesday added several mining-related standards to its zoning regulations, taking steps that directly affect a proposed Piedmont Lithium Inc. mine that could eventually supply the ultralight battery mineral to Tesla Inc. The Gaston County Board of Commissioners unanimously approved standards for lighting, noise-reduction, blasting and other mining-related activities.

Sep 28 - China power curbs whack refined tin consumption – association

Power usage curbs in China have cut demand for refined tin, as solder companies and tin chemical producers in parts of the country are operating at reduced capacity, the International Tin Association's (ITA) Beijing branch said on Monday. London tin fell as much as 4.8% to $34,800 a tonne on Monday, having hit a record high on Friday on supply concerns. 

Sep 28 - WTO sets up panel on China's steel import duties after Japan complaint

The World Trade Organization (WTO) has set up a dispute-settlement panel on China's anti-dumping duties on stainless steel imports following a complaint from Japan that the duties violate trade rules, the Japanese government said on Tuesday. The panel was established on Monday in response to a request Tokyo made in August, arguing that China's anti-dumping tax violates the WTO's General Agreement on Tariffs and Trade.

Sep 27 - Congo in talks with China's Huayou to end dispute over cobalt mine

Democratic Republic of Congo's state cobalt buyer and China's biggest cobalt refiner are in talks to end a dispute over a mine at the heart of Congo's efforts to clean up its supply of the metal and reassure car and battery makers that rely on it. State-backed Entreprise Generale du Cobalt (EGC) earlier this year earmarked the Kasulo mine, in Congo's Lualaba province, for its first purchases of cobalt as it works to overhaul conditions at informal mining sites, where child labour and deadly accidents are common.

Sep 27 - Rio Tinto and Canadian union reach labour deal for British Columbia ops

Rio Tinto and Canadian union Unifor have reached a labour agreement in principle for the global miner's operations in the western Canadian province of British Columbia, the company said on Sunday. The agreement comes after weeks of second-round talks between the two parties after the first round of negotiations over proposed changes to workers' retirement benefits and unresolved grievances had failed to go through in July.

Sep 24 - Russia sets new MET tax for metals firms, drops idea of new profit tax

Russia has agreed on a new formula of mineral extraction tax (MET) with Russian producers of steel, iron ore, coking coal, fertilisers and mixed ores, such as mined by Nornickel, but dropped idea of a new profit tax, officials said. Russia has dropped the idea of setting a formula-based profit tax linked to previous dividends and investments for now, Interfax news agency reported on Thursday, citing Alexander Shokhin, head of the Russian Union of Industrialists and Entrepreneurs.

Sep 24 - Global steel output falls in August, first time in a year

Global steel production slipped by 1.4% year-on-year in August, the first decline in more than a year, and is likely to decline further in the coming months as officials in top producer China seek to curb pollution. Crude steel output fell to 156.8 million tonnes in August, World Steel Association data showed on Thursday, the first decline since July 2020.

Sep 23 - Soaring gas prices ripple through heavy industry, supply chains

Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers. Some companies, including steel producers, fertiliser manufacturers and glass makers, have had to suspend or reduce production in Europe and Asia as a result of spiking energy prices. 

Sep 23 - Miner Vale drops prospects rights on indigenous lands in Brazil

Brazilian miner Vale SA has given up all rights to mining prospects on indigenous lands in Brazil, recognizing that they require the consent of the communities and legislation regulating such activity, the company said on Wednesday. Vale said in a statement that since last year it has returned to the National Mining Agency 89 licences for mineral research and mining activities in lands that interfere with indigenous reservations.

Sep 22 - Russia may get $7.5 bln boost from tax on metals firms in 2022-24 - Ifax

Russian metals, coking coal, fertiliser producers will provide some 546 billion roubles ($7.5 billion) in additional proceeds to the 2022-2024 state budget, the Interfax news agency reported, citing draft amendments to tax regulations. Moscow is considering changing a mineral extraction tax for producers of ferrous and non-ferrous metals, coal and fertilisers, sources familiar with ongoing discussions have said.

Sep 22 - Canada's Teck cuts refined zinc output forecast on wildfire impact

Canadian miner Teck Resources Ltd cut its forecast for annual refined zinc production on Tuesday, citing an impact on its operations from wildfires in British Columbia. The company projected refined zinc production for 2021 to be in the range of 285,000 tonnes to 290,000 tonnes, down from a previous estimate of 290,000 tonnes to 300,000 tonnes.

Sep 21 - Magnesium maelstrom throws up another roadblock for automakers

Widespread closures of magnesium smelters in top producer China due to a clampdown on emissions and shortages of energy have propelled prices of the metal to their highest since 2008, posing another headache for automakers. Magnesium, also widely used in the aerospace industry, is needed to make aluminium alloys for the auto sector, which is already reeling from chip shortages.

Sep 21 - Russia expects new tax on ferrous metals to add $1.8 bln to budget - sources

Russian officials expect new taxes on producers of steel, coal and iron ore to add an additional 130 billion roubles ($1.8 billion) to the state budget in 2022, four sources familiar with the ongoing discussions told Reuters. Moscow is considering imposing a mineral extraction tax (MET) linked to global prices on producers of ferrous metals and fertilisers, as well as on ore mined by Nornickel, sources said last week.

Sep 20 - Indonesia considers export tax for products with less than 70% nickel content 

Indonesia is exploring the possibility of levying an export tax on nickel products with less than 70% nickel content to drive expansion of its domestic processing industry, Investment Minister Bahlil Lahadalia said on Friday. Indonesia is keen to develop a full supply chain for nickel, from extracting ore from its rich nickel reserve to producing batteries and assembling electric vehicles (EVs) at home.

 Sep 20 - China Aug aluminium imports fall 20.7% from prior month

China's aluminium imports in August fell 20.7% from the previous month, data from the General Administration of Customs showed on Saturday, hitting their lowest since May. Arrivals of unwrought aluminium and products - which include primary metal and unwrought, alloyed aluminium - were 247,547 tonnes, down from 312,086 tonnes in July and down 42.4% from a year earlier.

Sep 20 - Brazil miner Vale pays bumper dividend, shares slide on iron ore fears

Brazil's Vale SA will pay 40.2 billion real ($7.6 billion) in first-half dividends, its largest payout since the miner's 2019 dam collapse that killed almost 300 people. Vale said in a securities filing released late on Thursday that its board had approved the distribution of 8.11 reais ($1.54) per share as dividends for the first-half of 2021, which would be paid on Sept. 30.

Sep 17 - U.S. miners decry mineral royalty plan floated in Congress

U.S. mining companies are blasting proposals in Congress that would set royalties for copper, lithium and other minerals extracted from federal land, with executives saying the measures would hurt domestic production of the building blocks for solar panels, electric vehicles and other green technologies. The House of Representatives Natural Resources Committee added language to the proposed $3.5 trillion reconciliation spending measure last week that would set an 8% gross royalty on existing mines and 4% on new ones. 

Sep 17 - Russia mulls new extraction tax and higher profit tax for metals firms - sources

Russia's finance ministry proposed setting a mineral extraction tax (MET) linked to global prices for producers of iron ore, coking coal and fertilisers, as well as ore mined by Nornickel, four sources at companies familiar with talks told Reuters. The ministry simultaneously proposed a reserve option, a formula-based profit tax that would depend on the size of firms' previous dividends and investments at home, the sources said.

Sep 16 - 'Shock and dismay': Australia nod for Whitehaven mine blasted by students

Australia's Environment Minister Sussan Ley approved on Thursday Whitehaven Coal's Vickery coal mine extension project in New South Wales, eliciting "shock and dismay" from eight teenagers who had sought to prevent it due to climate concerns. The decision sent the coal miner's shares up 4% to A$3.160, their highest since December 2019. 

Sep 16 - EU to suspend planned tariffs on Chinese aluminium, lobby group says

The European Union is set to impose duties on aluminium from China in October, only to suspend them for nine months, the EU industry association said on Wednesday, adding that this would threaten jobs and send the wrong signal to Beijing. The European Commission launched an investigation into aluminium flat-rolled products, which are used in a variety of sectors, from construction to transport and consumer durables, in August 2020 and set provisional duties of between 19.3% and 46.7% in April 2021.

Sep 15 - China Aug aluminium output falls for 4th month as supply cuts mount

China's aluminium output in August slipped for a fourth straight month, official data showed on Wednesday, as restrictions on metal production and power usage in key smelting hubs keep supply tight. The world's top producer of the metal produced 3.16 million tonnes of primary aluminium last month, the National Bureau of Statistics said. That was down 3.2% from 3.263 million tonnes in July but up 0.4% year-on-year, it said.

Sep 15 - In Argentina's north, a 'white gold' rush for EV metal lithium gathers pace

In Argentina's remote northern Salta province, the silence of the desert landscape is broken only by the hum of machinery pumping salt-water brine to extract lithium, a sign of accelerating efforts to ride the global electric vehicle boom. Beneath the South American country's highland salt flats, reached by winding mountain roads, is buried the world's third largest reserve of the ultra-light battery metal, which has seen a price spike over the past year on the back of a global push towards greener modes of transport.

Sep 14 - Union at Albemarle Atacama plant rejects new contract offer, strike continues

A Chilean union at Albemarle Corp, the world's top lithium producer, said on Monday it had rejected the company's latest labor contract offer, leaving workers to continue a walk off that has extended for more than a month. The 135-member "Albemarle Salar" union, which comprises about half the workers at its key Salar production plant, went on strike in August after failing to reach a deal with the U.S.-based lithium miner. The company maintains the extended walk-off has yet to hit its output of lithium.

Sep 14 - Barrick eyes new mines, not deals, for future growth

Barrick Gold Corp Chief Executive Mark Bristow spent years burnishing his reputation as an aggressive dealmaker, but he says now he is focused on new mines that he hopes will boost profit and the company's sagging stock price. The strategy eschews the acquisition appetite that made Barrick what it is today and instead pins the company's growth on exploration projects in Egypt, Nevada, Guyana and elsewhere.

Sep 13 - Strike threat lifted at BHP's Cerro Colorado mine after contract deal

A union at Chile's Cerro Colorado copper mine in Chile has struck a collective contract deal with mine operators BHP after five days of government-led mediation, the company said on Saturday in a statement. The agreement with Union No. 1 would be valid for 36 months and includes a series of improvements on the previous contract, BHP said.

Sep 13 - China's Jiangxi Copper to develop Afghanistan copper mine when situation allows

China's Jiangxi Copper Co Ltd said on Monday that it and the Metallurgical Corp of China (MCC) are monitoring the situation in Afghanistan and will push forward with the Mes Aynak copper mine when they can. The company and MCC took on a 30-year lease for the mine in 2008, which has an estimated reserve of 11.08 million tonnes of copper. Jiangxi Copper holds a 25% stake in the project.

Sep 10 - Rio played down Australian heritage damage at inquiry - Aboriginal group

An executive with mining company Rio Tinto has played down damage to Indigenous Australian heritage, an Aboriginal group said on Thursday, in a submission to an inquiry into widespread destruction of sites of cultural significance. A spokesman for Rio Tinto said the company declined to comment. 

Sep 10 - Shanghai squeeze revitalises flagging nickel market: Andy Home

Nickel is making a comeback. London Metal Exchange (LME) three-month nickel hit a seven-year high of $20,225 per tonne on Thursday morning and has a new-found spring in its step after collapsing in February. That is when Chinese steel group Tsingshan announced its Indonesian nickel operations would supply matte - a form of the metal used only for stainless steel production - to battery makers.

Sep 09 - U.S. decision on Minnesota copper mine awaits Interior Dept opinion

U.S. Agriculture Secretary Tom Vilsack said on Wednesday he is waiting for a legal opinion before deciding whether to approve Minnesota's Twin Metals copper mining project, which labor unions support but environmentalists strongly oppose. "We continue to wait for the Department of the Interior. They have to issue a legal opinion before we know what direction we need to take" at the Agriculture Department, Vilsack told a White House news conference.

Sep 09 - WPIC switches 2021 platinum forecast from deficit to surplus

The World Platinum Investment Council (WPIC) said on Thursday it now expects the global platinum market to be in surplus this year as mine supply ramps up and investment demand falls. The roughly 8 million ounce a year market will be oversupplied by 190,000 ounces in 2021, the WPIC said.

Sep 08 - Aboriginal group files U.N. complaint over heritage bill

A group of Aboriginal people has filed a complaint to the United Nations over Western Australia's draft heritage protection laws, more than a year after a public outcry over the destruction of culturally significant rock shelters by Rio Tinto. The group is making a formal request for the UN Committee on the Elimination of Racial Discrimination to review the state's cultural heritage bill, calling it incompatible with Australia's international obligations.

Sep 08 - Lithium producer Albemarle says Chile output on track despite strike

Albemarle Corp, the world's top lithium producer, said on Tuesday it has maintained output from its Chile operations despite an ongoing strike by one of the company's four unions in the South American nation. The 135-member "Albemarle Salar" union, which the company said comprises about half the workers at its Salar plant, went on strike in August after failing to reach a labor contract deal with the U.S.-based lithium miner.

Sep 07 - Tepid demand pulls China copper imports to more than 2-year low

China's copper imports in August dropped 41% year-on-year to their lowest since June 2019, customs data showed on Tuesday, as high prices and sluggish economic growth kept a lid on demand. Arrivals of unwrought copper and products into China, the world's top copper consumer, were 394,017 tonnes in August, the General Administration of Customs said. 

Sep 07 - Guinea bauxite prices rise after coup, mines report no immediate impact

Prices for aluminium ore bauxite from Guinea hit their highest in almost 18 months in top metals consumer China on Monday as buyers fretted about supply after a coup in the West African country, though no mines reported any disruption. Guinea is the world's second-biggest producer of the raw material that is refined into alumina, a substance used to make aluminium metal, and is the top supplier to China.

Sep 06 - China aims for iron ore output boost of 100 mln T by 2025 - association

China's iron ore producers aim to increase domestic iron ore concentrate output by more than 100 million tonnes between 2021 and 2025, an official with the country's steel industry association said on Saturday. Luo Tiejun, the vice-chairman of the China Iron and Steel Association (CISA), told a meeting in the steel heartland of Hebei province that government departments are examining ways to support domestic iron ore production.

Sep 06 - Native Americans lose bid to halt digging at Nevada lithium mine site

A U.S. federal judge ruled on Friday that Lithium Americas Corp may conduct excavation work at its Thacker Pass lithium mine site in Nevada, denying a request from Native Americans who said the digging would desecrate an area they believe holds ancestral bones and artifacts. The ruling from Chief Judge Miranda Du was the second victory in recent weeks for the project, which could become the largest U.S. source of lithium, used in electric vehicle batteries.  

Sep 06 - New aluminium capacity to eventually tame rampant prices

A prolonged period of high aluminium prices created partly by output cuts in China is expected to encourage new capacity in other parts of the world, which will eventually weigh on prices trading at 10-year highs. Benchmark aluminium on the London Metal Exchange hit $2,734.5 a tonne on Wednesday, a gain of 37% this year and the highest since May 2011.

Sep 03 - Unions at Codelco's Andina mine to end strike after reaching labor deal

Two unions at Chile's Andina copper mine have struck a labor contract deal with world top copper producer Codelco, the company said Thursday, ending a prolonged strike that began in mid-August. Members of the Industrial Union of Labor Integration (SIIL) and the Unified Workers' Union (SUT) returned to the bargaining table with the state miner late last month, and on Wednesday evening signed the new 36-month contract. 

Sep 03 - China aluminium cuts exceed 2 mln tonnes so far, Antaike says

The amount of annual aluminium capacity shut down in top producer China so far this year has exceeded 2 million tonnes and could rise further, state-backed Chinese research house Antaike said on Thursday. Several Chinese regions - including the smelting hubs of Yunnan, Xinjiang and Inner Mongolia - have imposed restrictions on aluminium makers' electricity consumption or metal production in recent months because of tight power supplies and pressure to reduce emissions.

Sep 02 - China completes latest metal auctions as Xi urges better reserves system

China released another 150,000 tonnes of state metal inventories to the market on Wednesday, its reserves administration said, completing a third round of auctions so far this year as it aims to ease the pressure of high commodity prices on businesses. The sales, which began in early July, are the first in more than a decade. 

Sep 02 - Chile needs $150 bln to boost green copper output, minister says

Mining powerhouse Chile needs $150 billion in investment to hit its goal to nearly double copper output by 2050, part of a bigger plan by the world's top copper producer to ratchet up production while reducing environmental harm, the country's mining minister told Reuters on Wednesday. Energy and Mining Minister Juan Carlos Jobet on Tuesday announced a new national mining blueprint that aims to increase the traceability of copper produced in Chile, slash water use and bolster diversity at mining companies.

Sep 01 - China auctions more industrial metals as Xi urges better reserves system

China kicked off auctions for another 150,000 tonnes of industrial metals on Wednesday, the third round of sales from its state reserves this year as Beijing aims to ease the pressure of high commodity prices on businesses. The sales, which resumed in early July for the first time more than a decade, come as prices of many commodities have hit records in 2021 and China's President Xi Jinping has called for the country to better manage its state reserves system.

Sep 01 - BHP may match Wyloo's offer in tussle for nickel miner Noront

BHP Group said on Tuesday it would consider matching a raised bid by billionaire Andrew Forrest's Wyloo Metals for nickel miner Noront Resources Ltd as the two tussle for the supply of a key battery metal used in electric vehicles (EV). The statement follows Wyloo indicating it was willing to pay 27% more than what BHP had offered for the Canadian company, proposing that it could keep Noront public or buy out the remaining shares it does not already own.

Aug 31 - Mexican mining spending seen jumping to more than $5 bln in 2021

Mining investment in Mexico is set to climb by about 42% in 2021 to reach more than $5 billion, after tumbling last year during a pandemic-related economic slowdown, the head of the country's mining chamber forecast on Monday. The sector is expected to make significant gains following investment of only $3.53 billion last year, even though the government ultimately designated mining an essential activity, Camimex President Fernando Alanis told reporters on a webcast news conference.

Aug 31 - Strike threat rises at BHP's Cerro Colorado mine after union vote

A union at BHP's Cerro Colorado copper mine in Chile voted to reject the company's latest contract offer, it said on Monday, paving the way for a potential strike at the small operation. The union had last week called on its members to reject the contract offer, saying that BHP was using regulatory issues as an excuse to lowball workers with an inadequate proposal.

Aug 30 - Dragons fly as Chinese millennials take a shine to gold

For many affluent young Chinese consumers, modern simplicity is out and tradition is back in when it comes to jewellery. Sales of gold bracelets, pendants, earrings and necklaces that draw on dragons, phoenixes, peonies and other traditional Chinese patterns and symbols are flying among consumers, especially those in their 20s and 30s, helping drive a rebound in gold demand in the country after a pandemic-induced slump.

Aug 30 - Congo reviewing $6 bln mining deal with Chinese investors - finmin

Democratic Republic of Congo's government is reviewing its $6 billion "infrastructure-for-minerals" deal with Chinese investors as part of a broader examination of mining contracts, Finance Minister Nicolas Kazadi told Reuters. President Felix Tshisekedi said in May that some mining contracts could be reviewed because of concerns they are not sufficiently benefiting Congo, which is the world's largest producer of cobalt and Africa's leading miner of copper.

Aug 27 - Rio Tinto yet to pay compensation over sacred site destruction

Mining giant Rio Tinto is yet to pay compensation to the Aboriginal group whose ancient rock shelters it destroyed at one of its iron ore sites in Western Australia last year, company officials told a parliamentary inquiry Friday. The incident last year destroyed the historically and culturally significant site at Juukan Gorge in the Pilbara region that showed evidence of human habitation 46,000 years ago into the last Ice Age.

Aug 27 - Aluminium smelters in China's Xinjiang told to cut output

A prefecture in China's Xinjiang region has imposed output limits on five aluminium smelters starting from this month as part of efforts to stamp out illegal production, sending Shanghai aluminium prices to a 13-year high. Across the five smelters, the monthly limits represent a 10% reduction in production from output levels in the first seven months of this year, according to Reuters calculations.

 

Aug 26 - Union at BHP's Cerro Colorado calls on workers to reject contract offer

The workers' union at BHP's Cerro Colorado copper mine in Chile has called on its members to reject a final contract offer by the company, paving the way for a strike at the small deposit, the group's leadership told Reuters. The labor tensions come shortly after a court ordered the mine to cease pumping from a reservoir that supplies it with fresh water, citing environmental concerns and slowing progress on a key mine maintenance project. 

Aug 26 - Royalty bill will put Chile's private miners out of business, trade group says

Chile's sprawling mining sector believes a royalty bill under discussion in Congress could shut down the country's private miners as currently written, a senior mining executive told lawmakers on Wednesday. The controversial legislation has gained momentum this year as prices of the red metal - critical for its use in construction and automaking industries - have soared amid a nascent global recovery following the coronavirus pandemic.

Aug 25 - Billionaire Ponce to auction 2.5 mln B-series shares in lithium miner SQM

A Chilean company with a large stake in lithium miner SQM said on Tuesday it would auction 2.5 million B-series shares it holds in the firm, according to a filing with the country's financial regulator. The company, Pampa Calichera, controlled by influential SQM shareholder Julio Ponce, said the object of the share sale was "to strengthen the capital structure" of the company. 

Aug 25 - Chile's Codelco and Andina supervisors agree on contract

A Chilean company with a large stake in lithium miner SQM said on Tuesday it would auction 2.5 million B-series shares it holds in the firm, according to a filing with the country's financial regulator. The company, Pampa Calichera, controlled by influential SQM shareholder Julio Ponce, said the object of the share sale was "to strengthen the capital structure" of the company.

Aug 24 - EU considers help for rare earth magnet production - sources

The EU is working on proposals to jump-start home output of a type of specialist magnet vital in electric car motors by offering support to local producers so they can compete with Chinese rivals, sources close to the situation said. The moves to support production of rare earth permanent magnets would mirror legislation introduced in the United States earlier this month to offer tax credits to makers of the devices there.  

Aug 24 - Brazil's Cosan to make iron-ore mining debut

Brazilian energy group Cosan SA has decided to enter the mining segment in a joint venture with Aura Minerals' controlling shareholder to explore and transport iron ore, it said in a securities filing on Monday. Cosan said it and a unit of Paulo Brito Group, founder and controlling shareholder of Aura, will co-control the new company, which will be headed by former Vale SA and CSN SA executive Juarez Saliba de Avelar.

Aug 23 - China steel firms start merger to create world's third biggest producer

Chinese steelmakers Ansteel Group and Ben Gang formally began the process of merging their operations on Friday, the official Xinhua news agency reported, in a move that will create the world's third-largest producer of the metal. State-owned Ansteel is taking a 51% stake in smaller rival Ben Gang from the regional state assets regulator, with no money changing hands in a government-backed restructuring that is part of a drive to consolidate production in China's bloated steel sector. 

Aug 23 - Majority of unions at Codelco's El Teniente mine reject early contract offer

A majority of the five worker's unions at Codelco's flagship El Teniente mine late on Thursday rejected a labor contract offered prior to the official negotiating period, the company's federation of trade unions told Reuters. Union members at the sprawling deposit, which produced 443,200 tonnes of copper in 2020, initiated early talks weeks ago but have yet to accept a deal on a new contract to the replace the current one, which expires at the end of October.

Aug 20 - Colombia mining exports recovered to $5.6 bln in first half, producers say

The value of Colombia's mining exports recovered slightly in the first half of this year to $5.59 billion, despite anti-government protests and street blockades between April and June, an industry association said on Thursday. The increase - from a export value of $5.18 billion during the first six months of last year, when the industry was battered by COVID-19 closures - is due principally to better gold prices which made up for continued troubles for coal.

Aug 20 - Chile's SQM sees Q2 earnings jump on higher lithium prices, demand

Chilean miner SQM, the world's No. 2 producer of lithium, said on Thursday its earnings jumped in the second quarter as demand for electric vehicles soared, boosting its sales volumes and the price for the coveted battery metal. The company reported second-quarter earnings of $89.8 million, or $0.31 per share, compared with $50.8 million, or $0.19 per share, in the year-ago period. Earnings in the first half of 2021 were up 65% over the first six months of 2020, the company said.

Aug 20 - Chile court orders BHP's Cerro Colorado copper mine to stop pumping from aquifer

A Chilean court ordered BHP's Cerro Colorado copper mine on Thursday to stop pumping water from an aquifer over environmental concerns, according to filings seen by Reuters. The same First Environmental Court in July ruled that the relatively small copper mine in Chile's northern desert must start again from scratch on an environmental plan for a maintenance project.

Aug 19 - Workers at Chile's Escondida mine hit jackpot, raise bar in labor talks elsewhere

An historic benefits package at BHP's sprawling Escondida copper mine has raised the prospect for tough new negotiations and strikes at mines around the country, workers and analysts told Reuters. Success at the bargaining table was driven by soaring copper prices, which broke records earlier this year and have remained high enough to whet workers' appetite for raises, bonuses and a bigger slice of profits. 

Aug 19 - Brazil prosecutors seek to force Vale, BHP to pay off Samarco's debt -court document

Brazilian prosecutors asked a bankruptcy court on Wednesday to compel miners Vale SA and BHP Group Ltd to fully pay off their Samarco joint venture's 50.7 billion reais ($9.47 billion) debt, according to a court document reviewed by Reuters. Samarco filed for bankruptcy protection in April as it struggled to restructure its debt, which it stopped servicing after a dam burst at a mine in 2015, killing 19 people, releasing a giant torrent of sludge and halting production.

Aug 18 - Green-push dilemma: China's steel curbs could cripple price control efforts 

China is facing a high profile test of its commitment to curbing industrial pollution after steel output surged in the first half of the year to well beyond its target of capping production at 2020's peak, sending emissions to new highs. The country pledged to limit crude steel output this year at no higher than the 1.065 billion tonnes it made in 2020.

Aug 18 - BHP reshapes portfolio, set to quit London's FTSE 

BHP Group reported its best annual profit in nearly a decade on soaring iron ore prices, as the world's biggest listed miner announced an exit from its $13 billion petroleum business in a portfolio shake-up that will see it leave London's FTSE100 index. On a day of sweeping changes, BHP said it was going ahead with its Jansen potash project in Canada and, in a blow to the London Stock Exchange, unveiled plans to do away with its dual-listed share structure.

Aug 17 - Most LME floor members to return when ring trading restarts in September

Eight of the nine members trading on the floor of the London Metal Exchange (LME) will return when it reopens in September, though some expect reduced volumes due to a hybrid system of open outcry and electronic trading. Prior to March 2020, when COVID-19 led the exchange to shutter its trading floor for the first time since World War Two, closing and official prices were determined via open outcry.

Aug 17 - Record high aluminium prices likely to spur destocking

Record aluminium prices in the United States and Europe will be sustained by Russia's mining tax for some months, but attempts to push prices even higher are likely to face headwinds from traders cashing in their stocks, analysts said. Russia has imposed a 15% tax or a minimum of $254 a tonne on aluminium exports between August and December.

Aug 16 - China's July crude steel output falls nearly 8% vs June on production controls

China's crude steel output fell in July to the lowest monthly level since April 2020 as authorities stepped up production controls designed to meet a target of keeping output unchanged from last year as Beijing bids to cap carbon emissions. The world's top producer made 86.79 million tonnes of crude steel last month, falling 7.6% from June and 8.4% from 93.36 million tonnes in July 2020, data from the National Bureau of Statistics (NBS) showed on Monday. 

Aug 16 - Rusal cautious about second half due to export taxes, COVID-19

Aluminium producer Rusal said on Friday that its financial performance in the second half of 2021 could be affected by Russia's new metal export taxes as well as the impact of the COVID-19 pandemic, despite strong results for January-June. Hong-Kong listed Rusal, the world's third largest aluminium producer behind China's Chinalco and Hongqiao, on Friday reported a big jump in first-half net profit to $2.0 billion from a loss of $124 million a year ago due to higher sales and stronger aluminium prices.

Aug 13 - Japan steelmakers set for sharp profit recovery as global demand surges

Japanese steelmakers are on track for a V-shaped annual profit recovery from the pandemic-induced slump, as solid global demand boosts prices while higher prices of iron ore and coking coal drive hefty inventory appraisal gains. Japan's second-biggest steelmaker, JFE Holdings, on Thursday nearly doubled its annual net profit forecast following similar upgrades by Nippon Steel and Kobe Steel last week.

Aug 13 - U.S. infrastructure bill targets critical minerals supply: Andy Home

The United States' $1 trillion infrastructure package is undoubtedly good news for industrial metals. More money for upgrading highways, railways and power grid systems will mean more demand for steel, copper and aluminium.

Aug 12 - Thyssenkrupp flags $1.8 billion cash gap as restructuring drags on

Thyssenkrupp on Wednesday flagged a cash gap of up to 1.5 billion euros ($1.8 billion) for its full year, citing restructuring costs and higher investments, as the German conglomerate continues efforts to streamline its businesses. Shares of the steel-to-submarines group fell as much as 7.7% on the outlook for free cash flow before mergers and acquisitions, which is now expected to be a negative 1.2-1.5 billion euros in the year to September. 

Aug 12 - Kyrgyzstan to formally part ways with Canada's Centerra Gold over Kumtor

Kyrgyzstan has established enough evidence to press on with removing Canada's Centerra Gold from the Kumtor gold mine, the state security service and prosecutors said on Wednesday. The security service is investigating possible corruption in the deal that gave Centerra control over the country's biggest gold mine and subsequent amendments to the pact.

Aug 11 - Chile's mining industry sees 2-3 years of high copper prices - exec

Chilean miners expect copper prices to stay high for two to three years but remain wary of labeling the boom a "supercycle" like what happened a decade ago, a senior executive said on Tuesday. The price of copper soared to record highs this year on expectations of global economic recovery and fast-rising demand after a year of stagnation amid the coronavirus pandemic.

Aug 11 - Peruvian mining sector to pay record $3 bln in taxes in 2021, says industry group

Peruvian mining companies will pay a record 12 billion soles ($3 billion) in taxes in 2021, more than twice what they paid in 2019 before the pandemic, the industry group representing the sector said on Tuesday. Mining is a key source of tax revenue for Peru, the world's No. 2 copper producer. Miners have benefited this year from higher prices and a weak local currency, which boosted their revenue and increased their tax bills due to exports sold in dollars.

Aug 10 - Peru's finance chief says mining taxes can rise without affecting competitiveness

Peru's finance minister, Pedro Francke, told Reuters on Monday that the new leftist government can increase mining taxes to fund public spending without affecting private-sector competitiveness, all while reducing the fiscal deficit. Peru, the world's No. 2 copper producer, is highly dependent on mining taxes and new President Pedro Castillo has promised to deliver more social programs to lift the country's poor.

Aug 10 - Global decarbonisation drive to challenge steel producers - Woodmac

The world's steel sector will need to prioritise decarbonisation to meet a challenging target of cutting carbon emissions by 75% to keep global warming to within 2 degrees Celsius, natural resources consultancy Wood Mackenzie said on Tuesday. Slashing global steel emissions to 780 million tonnes of carbon dioxide by 2050 from 3 billion tonnes in 2020 would be very challenging for an industry that accounts for 7% of the world's greenhouse gas emissions, Wood Mackenzie said in a new report.

Aug 09 - China July copper imports fall for fourth straight month

China's copper imports in July fell 1.0% from June, declining for a fourth straight month, customs data showed on Saturday, as high prices, the release of state reserves and increased scrap metal inflows kept buying interest at bay. Imports of unwrought copper and copper products into China, the world's biggest copper consumer, were 424,280.3 tonnes last month, the General Administration of Customs said. 

Aug 09 - New EV battery designs unlikely to dampen metals demand, miners say

Mining companies say they do not fear a plan by China's CATL to make an electric vehicle (EV) battery without lithium or other key metals because the new design will have a limited range and more-powerful rival battery technologies will gobble up minerals supply in coming years. The industry's confidence is born from the rapid rise of the battery to power not only transportation, but myriad other parts of the global economy, an evolution that many industry analysts expect to require a massive expansion of mining.

Aug 06 - Nornickel triples earnings as metals prices offset output dip

Russia's Nornickel reported a tripling of first-half core earnings to $5.7 billion, with higher global metals prices and low-base effect offsetting reduced nickel and copper output. Nornickel, the world's largest producer of palladium and a leading producer of nickel, was hit by lower output at two of its Arctic mines this year after flooding stopped production for several months. 

Aug 06 - Tin, aluminium to outperform other base metals in H2 – Antaike

Tin and aluminium prices are likely to outperform the rest of the base metals complex in the second half of 2021 on strong demand and tight supply, state-backed Chinese research house Antaike said on Thursday. "Tin and aluminium are still much stronger than other metals, followed by nickel and lead," senior analyst Xia Cong said on a webinar.

Aug 05 - Investors call for urgent action by steelmakers on carbon emissions  

Steelmakers need to take urgent action on producing less carbon in order to meet the Paris Agreement on climate change, investors managing $55 trillion in assets said on Wednesday. Emissions from steel production account for 9% of the global total and must fall 29% by 2030 and 91% by 2050 to meet the net zero scenario laid out by the International Energy Agency in May, the Institutional Investors Group on Climate Change said.

Aug 05 - Foreign miners in Chile warn lawmakers fresh royalties would hammer competitiveness

Foreign companies operating in world top copper miner Chile on Wednesday asked lawmakers to rewrite a controversial bill that would slap royalties on their sales, warning the fresh taxes could squander their competitiveness and future investment plans. The royalty bill has gained momentum this year as prices of the red metal - critical for its use in construction and automaking industries - have soared amid a nascent global recovery following the coronavirus pandemic.

Aug 05 - What China keeps in its secretive commodity reserves

For the first time in a decade, China has released some of its strategic metal stocks to try to dampen a price rally hurting manufacturers. It has also released coal and imported corn reserves to cool prices, while buying pork to prop up that market. China is the world's largest user of commodities and has built up vast reserves.

Aug 04 - Chile's Codelco ups production 14.9% in June, Escondida marks 11th month of drops

Chile's Codelco, the world's largest copper miner, increased its production by 14.9% year-on-year to 151,600 tonnes in June, and by 6.8% so far this year, the Chilean state copper commission Cochilco said on Tuesday. BHP's Escondida, the world's largest copper mine, saw production fall 21.6% year-on-year to 82,900 tonnes in the same month, for an accumulated drop of 14.9% in the first half of this year.

Aug 04 - CATL's new sodium ion battery to help ease lithium shortages

The development of a new sodium-ion battery by Chinese battery giant CATL is expected in the coming years to relieve pressure on lithium supplies, which are forecast to see shortages as early as 2022. As the world seeks to cut carbon emissions, partly by ramping up electric vehicle (EV) output, demand is expected to soar for lithium, cobalt and nickel.

Aug 03 - Piedmont Lithium delays timeline to supply Tesla

Piedmont Lithium Inc said on Monday it will delay first shipments of lithium chemicals to electric vehicle maker Tesla Inc and that it does not have a definitive date for when deliveries could begin. The decision was mutual, Belmont, North Carolina-based Piedmont said. Tesla did not immediately respond to a request for comment.

Aug 03 - China's copper appetite wanes just as US grows hungry: Andy Home

China's copper import surge has peaked. The country sucked in a record 4.67 million tonnes of refined copper last year, making it the single most important physical driver of the pandemic recovery rally.

Aug 02 - Russia mulls pegging tax on mining firms to global metals prices - Interfax 

Russia is considering pegging a mineral extraction tax (MET) levied on its metals producers to the global price of their products from 2022, the Interfax news agency reported on Friday, citing Deputy Finance Minister Alexei Sazanov. Moscow has been trying to protect its defence and construction industries from further growth in raw materials costs as metals prices rise at a global level.

Aug 02 - Rio Tinto readies to ship trial lithium plant to Serbia

Rio Tinto Ltd is set to ship a pilot lithium processing plant to Serbia from Melbourne in the coming weeks, the culmination of a decade's research to catapult the world's largest iron ore miner into battery minerals. The work, undertaken at a science hub on the outskirts of Melbourne, has found a way to economically extract lithium from jadarite, a mineral that has only been found in a Serbian valley.

Aug 02 - Union at BHP's Escondida mine in Chile rejects contract, company seeks talks

The union of workers at BHP Group Ltd's Escondida copper mine in Chile, the world's largest, said on Saturday it had voted to reject the company's final labor contract offer, prompting BHP to request government-mediated talks in a last-ditch effort to stave off a strike. The talks, once confirmed by authorities, will last for 5 to 10 days, according to Chilean labor law. If no agreement is reached, a strike would begin.

Jul 30 - China raises export tariffs for some steel products again in green push  

China will raise export tariffs for pig iron and ferrochrome, and remove export tax rebates for 23 steel products from Aug. 1, the second adjustment in three months as it seeks to ensure domestic supply while controlling output to curb emissions. Export tariffs for high-purity pig iron will be lifted to 20% from 15%, and for ferrochrome will be increased to 40% from 20%, the Ministry of Finance said in a statement on Thursday.

Jul 30 - China metals body names 66 certified importers for copper, aluminium scrap  

China published the third list of 66 domestic firms that would be allowed to import copper and aluminium scrap on Thursday, the country's metals recycling body said in a statement. The world's biggest metals consumer had given a green light to two batches of domestic importers and foreign suppliers for metals scrap trade as it banned imports of solid waste from 2021 on environmental concerns.

Jul 30 - Anglo American pays out record $4.1 bln to shareholders for first half 

Miner Anglo American on Thursday boosted shareholder payouts to a record $4.1 billion for the first six months of the year, sending its stock up more than 5% after bumper commodity prices lifted first-half profits to their highest ever. London-listed shares in Anglo, which have surged almost 80% over the last year, were up 5.2% at 1225 GMT, close to 13-year highs hit in May.

Jul 30 - Gold set for modest rally before easing in 2022 - Poll

Gold prices will average a little above their current level of $1,830 an ounce for the remainder of 2021 before edging lower next year as the global economy recovers and central banks begin to tighten monetary policy, a Reuters poll showed on Thursday. Prices of the metal, traditionally seen as a safe store of wealth, surged to record levels above $2,000 an ounce early in the coronavirus crisis but sagged as economies reopened.

Jul 29 - China demand powers Fortescue shipments to record, beats annual estimate 

Australia's Fortescue Metals Group Ltd on Thursday narrowly beat its full-year estimate for iron ore shipments after a record fourth quarter, as strong demand from top consumer China offset the impact of bad weather. The world's fourth-largest iron ore miner fared better than rivals Rio Tinto and BHP, whose June quarter output dropped because of weather disruptions in Western Australia.

Jul 29 - Australia's BlackEarth Minerals wins export rights in Madagascar 

Australia's BlackEarth Minerals said on Thursday it had received rights to export its graphite concentrate from Port d'Ehoala in southern Madagascar. Graphite is considered a "critical" mineral with a range of application, including in the manufacturing of batteries for electric vehicles and in electrodes used for steel making.

Jul 29 - Gold demand has yet to recover fully from COVID-19, says WGC 

Global demand for gold rose in the second quarter to its highest quarterly level in a year as central banks and investors stepped up purchases, the World Gold Council (WGC) said on Thursday. But with jewellery fabrication still reeling from the COVID-19 pandemic, gold use over the first six months of 2021 was lower than in any first half since 2008, the WGC said in its latest quarterly report. 

Jul 29 - Union at BHP's Escondida copper mine urges members to strike 

The union at BHP Group Ltd's Escondida copper mine in Chile, the world's largest, on Wednesday urged its members to vote to strike, saying the company was attempting to impose its will and its contract offer was "insufficient". The powerful, 2,300-member union is set to vote on BHP's contract offer between Thursday and Saturday this week.

Jul 28 - London judges reverse course to reopen $7 bln Brazil dam lawsuit against BHP 

London's Court of Appeal made a U-turn on Tuesday by agreeing to reopen a $7 billion lawsuit by 200,000 claimants against Anglo-Australian mining giant BHP, reviving a case over a dam rupture behind Brazil's worst environmental disaster. Lawyers for one of the largest group claims in English legal history have been pushing to resurrect the 5 billion pound ($6.9 billion) lawsuit against BHP since a lower court struck out the lawsuit as an abuse of process last year - and a Court of Appeal judge upheld that decision in March.

Jul 28 - Bandits steal truckloads of copper worth millions in southern Africa - sources 

Crime gangs have stolen dozens of truckloads of copper owned by miners and traders including Glencore, Trafigura and Traxys this year as they were heading to ports in southern Africa, three sources with direct knowledge of the matter said. Record high copper prices have triggered an increase in hijackings in recent months in Botswana, the Democratic Republic of Congo, South Africa, Tanzania and Zambia, said the sources who declined to be named due to the sensitivity of the matter.

Jul 27 - BHP delivers final offer to workers at Chile's Escondida copper mine -memo 

Labor contract negotiation at Chile's Escondida mine, the world's largest copper deposit, entered into a critical phase on Monday with the delivery of a final offer by operator BHP, according to an internal memo sent by the company to workers and seen by Reuters. Negotiations over the past two months between the company and its powerful workers' union over a new labor contract have been conducted in utmost secrecy, against a backdrop of record high metal prices amid expectations of a gradual global recovery from the coronavirus pandemic.

Jul 27 - Booming stainless steel output to sustain nickel prices for months 

Healthy demand from stainless steel mills and electric vehicle battery makers is expected to underpin nickel prices over coming months, but rising supplies from top producer Indonesia are likely to weigh next year. Benchmark nickel prices on the London Metal Exchange, at $19,500 a tonne, are up more than 20% since April and at their highest since February.

Jul 26 - U.S. judge rules Lithium Americas may excavate Nevada mine site 

A U.S. federal judge has ruled that Lithium Americas Corp may conduct excavation work at its Thacker Pass lithium mine site in Nevada, denying a request from environmentalists who said the digging could harm sage grouse and other wildlife. The ruling marked a rare win for a U.S. critical minerals project as environmental groups increasingly pressure courts and regulators to block mining projects, even if they produce metals key to building electric vehicles.

Jul 26 - Australia's Lynas posts record revenue on robust demand, shares hit 8-year high 

Australia's Lynas Rare Earths Ltd posted record quarterly revenue on Monday on the back of "very strong" demand for its range of specialized metals that offset softer prices, sending its shares to a more than eight-year high. Lynas, the largest rare earths producer outside China, reported a jump in fourth-quarter revenue to A$185.9 million ($137 million), more than triple A$38 million a year earlier, pushing the stock up 9% to A$7.01, its highest since January 2013.

Jul 23 - Freeport-McMoRan profit jumps on surging copper prices 

Freeport-McMoRan Inc beat Wall Street's expectations for second-quarter earnings on Thursday as the copper producer, one of world's largest, benefited from higher demand and increased prices for the red metal. Copper prices touched an all-time record high of $10,747.50 a tonne in May. Bullish investors bet that demand for the red metal will increase further as the world economy recovers from COVID-19 woes and as green energy investments ramp up.

Jul 23 - China launches new anti-dumping probe into steel products from Japan, S.Korea and EU 

China on Friday launched an anti-dumping investigation into grain oriented flat-rolled electrical steel imported from Japan, South Korea and the European Union following the expiry of tariffs in place for the last five years. Those tariffs will, however, be reinstated during the investigation which is due to be completed within a year, China's Ministry of Commerce said.

Jul 22 - Chile copper giant Codelco plans India, SE Asia push to trim reliance on China 

Chile state mining company Codelco, the world's largest copper producer, will seek to quadruple sales in Southeast Asia by 2023 and push further into the Indian market in an attempt to reduce a strong reliance on sales to China, the company told Reuters. The firm will open a new office in Singapore in August to help lead the push around the region to deal with clients in Vietnam, Malaysia and Thailand, among others, and to lead the drive into India, it said.

Jul 22 - BHP to supply Australian nickel to carmaker Tesla 

Global miner BHP Group said on Thursday it signed a nickel supply agreement with Tesla Inc and will work with the electric carmaker on lowering carbon emissions in the battery supply chain. Tesla said in June it expects to spend more than $1 billion a year on battery raw materials from Australia given the country's reliable mining industry and responsible production practices.

Jul 21 - In push to supply Tesla, Piedmont Lithium irks North Carolina neighbors 

In its quest to build one of the largest lithium mines in the United States, Piedmont Lithium Inc has overlooked one crucial constituency: its North Carolina neighbors. Piedmont last autumn signed a deal to supply U.S. electric automaker Tesla Inc with lithium sourced from its deposits in North Carolina, sending the company's stock up tenfold. The company, however, has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.

Jul 21 - Australia's iron ore miners face train driver shortage amid COVID lockdowns 

Rio Tinto is asking train drivers working in mineral-rich Western Australia to work more hours, following a move by rival BHP Group, as miners rush to ship millions of tonnes of iron ore amid soaring prices for the steel making material. The push comes among a worsening skills shortage in Australia's west that has been exacerbated by strict coronavirus restrictions, which unions say have raised mental health risks for workers and their families.

Jul 20 - Final settlement for Brazil's Samarco dam disaster could reach $19 bln, governor says 

A definitive settlement with miner Samarco and owners, BHP Group and Vale SA, for the damage caused by a burst tailings dam in 2015 could reach 100 billion reais ($19.06 billion), the governor of the Brazilian state where the disaster occurred told Reuters. That estimate is nearly four times higher than an initial deal struck with mining companies in 2016, which created a foundation to implement reparations and temporarily froze lawsuits relating to the incident. 

Jul 20 - BHP posts record annual iron ore production, lower output elsewhere 

BHP Group Ltd on Tuesday reported full-year iron ore production near the top end of its forecast range, thanks to record output at two mines in Western Australia. However, the world's largest listed miner posted a 4% decline in fourth-quarter output, compared with last year, and lower annual production across four of its six major divisions.

Jul 19 - China frictions steer electric automakers away from rare earth magnets 

As tensions mount between China and the United States, automakers in the West are trying to reduce their reliance on a key driver of the electric vehicle revolution - permanent magnets, sometimes smaller than a pack of cards, that power electric engines. Most are made of rare earth metals from China. 

Jul 19 - China's Ganfeng to buy Millennial Lithium for up to $280 mln 

China's Ganfeng Lithium Co Ltd said on Friday it would buy Argentina-focused Millennial Lithium Corp for about C$353 million ($280 million), extending a deal spree by one of the world's biggest producers of the white metal. Prices for lithium, a key ingredient in electric vehicle batteries, are up more than 65% year-to-date in China amid resurgent demand following a three-year downturn.

Jul 16 - Congo's cobalt monopoly to set price floor for artisanal miners 

The Democratic Republic of Congo's state cobalt buyer will put in place a price floor of $30,000 a tonne for the cobalt it buys from artisanal miners, Entreprise Generale du Cobalt (EGC) director-general Jean-Dominique Takis told Reuters. Cobalt, which is trading at around $50,000 a tonne, is used in the batteries that power electric vehicles, sales of which are expected to soar over coming years as the world strives to cut carbon emissions.

Jul 16 - Global metals trading impetus shifting from east to west: Home 

The remarkable one-year rally in base metal prices has been primarily driven by China's rapid COVID-19 recovery. While the coming demand boost for metals such as copper from the green revolution excites the supercycle bulls, it is China's resurgent manufacturing sector that is determining the immediate pricing landscape.

Jul 15 - Metals recycling to be a key plank for cutting emissions 

Consumer awareness of carbon emissions from the production of metals for the energy transition will eventually energise the recycling industry and stimulate searches for substitutes that could spoil the party for miners. Analysts at Wood Mackenzie estimate an additional 360 million tonnes of aluminium, 90 million tonnes of copper and 30 million tonnes of nickel will be needed over the next 20 years under a scenario that limits global warming to less than 2˚C.

Jul 15 - China June aluminium output falls for 2nd month, hit by power curbs 

China's primary aluminium output hit multi-year highs in the first half but production in June fell for a second straight month, official data showed on Thursday, as limits on power consumption in the smelting hub of Yunnan reined in production. The world's top producer of the metal increased first half aluminium output to the most since at least 2015, according to National Bureau of Statistics (NBS) records.

Jul 14 - AngloGold offers to buy out N. American bullion miner Corvus 

South Africa's AngloGold Ashanti Ltd said on Tuesday it had offered to buy all the shares it does not already own in Canadian bullion miner Corvus Gold Inc as it seeks to expand its ore reserves. The Johannesburg-listed company has shed most of their South African assets to focus on higher returns in both North and South America, sources said, as mining companies in South Africa struggle with rising costs, volatile labour relations and power disruptions. 

Jul 14 - Fund managers give copper a wide berth as China cools: Andy Home 

Fund managers have been reducing their exposure to copper as the market heads into what is normally a seasonally weak spot for demand. Supercycle bulls will argue that this is just a temporary soft spot before green infrastructure stimulus starts building momentum in Europe and the United States.

Jul 13 - Congo likely to start artisanal cobalt buying within 8 weeks 

The Democratic Republic of Congo is expected to start buying cobalt from artisanal miners within eight weeks as it aims to become the only legal buyer from miners in the informal sector. The government is looking to capitalise on soaring demand for rechargeable lithium-ion batteries for electric vehicles and to curb illegal exports which strip the state of needed tax revenue. It is also aiming to end unsafe working practices and child labour.

Jul 13 - China copper treatment charges near six-month high on smelter outage 

Spot treatment charges (TCs) for copper concentrate in China were on Monday assessed at their highest in almost six months after a smelter in the country's eastern Shandong province suffered an equipment breakdown. TCs, which smelters receive to process copper concentrate into refined metal, were languishing at decade lows in April amid tight supply. But they continued a recent recovery with a 4.4% jump to $47.50 a tonne on Monday, according to Asian Metal, marking the highest assessment since Jan. 21.

Jul 12 - Britain carves out exemption for gold clearing banks from Basel III rule 

Banks clearing gold trades in London can apply for an exemption from tighter capital rules due in January 2022, a British regulator said on Friday, removing what some said was a threat to the functioning of the market. London is the world's biggest physical precious metals trading hub. Its clearing system, operated by a handful of large banks with access to metal in vaults - JPMorgan, HSBC, ICBC Standard, and UBS - settles gold transactions worth around $30 billion a day.

Jul 12 - Can Reddit's silver "apes" beat the market? 

Kerry Kraker, 56, has worked in kitchens all his life. Since March he's spent around $100 a week - half his spare cash – on silver coins. He's part of a growing social media movement who say they are buying bars and coins for protection from a coming age of inflation. Thanks to a community of like-minded silver 'stackers' gathering on social-media platform Reddit Inc., Seattle-based Kraker says he also feels empowered.

Jul 09 - Canada's Star Diamond objects to Rio Tinto push for joint venture meeting

Junior miner Star Diamond Corp on Thursday said it objected to Rio Tinto's "predatory and coercive" actions after the global miner called a meeting for a joint venture the Canadian company says does not yet exist. Rio Tinto responded by saying it "disagrees with Star Diamond’s interpretations in all material respects."

Jul 09 - S.Africa says mine deaths rose 33% in the first half 2021

South Africa's mines recorded 32 deaths in the first half of 2021 compared with 24 during the same period in 2020, the mines ministry said on Thursday, continuing a spike in deaths which began last year in some of the world's deepest mines. South African mines, some of which are nearly 4km (2.5 miles) deep, have seen a regression in safety from record lows recorded in 2019 with the death toll last year up around 18% in 2020.

Jul 08 - Russia's aluminium export tax fuels price surge on spot market

Plans by Russia to impose taxes on exports of aluminium, a vital material for transport and packaging, have fuelled a surge in spot market costs for consumers in Europe and the United States. Moscow is proposing a 15% export tax on aluminium exports or a minimum of $254 a tonne between August and December. The tax will apply to Rusal, which accounted for 6% of global supplies estimated at 65 million tonnes last year.

Jul 08 - Forgotten tin tops energy transition metals leader-board: Andy Home

Copper may grab the supercycle headlines but it's the tiny tin market that outperformed all other base metals in the first half of this year.  London Metal Exchange (LME) tin hit a decade high of $33,181 per tonne in June and is currently trading around $31,800, up by 51% on the start of the year. Aluminium, the second-best year-to-date LME performer is up by 25% and copper "just" 21%.

Jul 07  - China's state metals reserves auctioned off in double-quick time

The first round of China's much-anticipated state metal reserves auctions needed only one of two days allotted for all the copper and aluminium on offer to be sold, notices on the bidding platforms and two industry sources said. In a rare move aimed at cooling a rally in metal prices that has pushed up raw material costs for Chinese manufacturers, the National Food and Strategic Reserves Administration said last month it would sell 50,000 tonnes of aluminium, 30,000 tonnes of zinc and 20,000 tonnes of copper on July 5-6. 

Jul 07 - Peru's Castillo expects mining firms to accept 'prudent' tax changes, adviser says

Peru's socialist president-in-waiting expects mining firms enjoying high metals prices to be won over to "prudent" plans to hike taxes on mineral resources, a top adviser told Reuters on Tuesday. In a sign that the gap between the business sector in the world's no. 2 copper producer and the incoming leftist government is closing, Pedro Francke, Castillo's economic adviser, said he expected firms would not oppose a planned review of tax rules after dozens of meetings with businesses.

Jul 06 - Brazil's Vale to use unmanned equipment to help shut down two dams

Brazilian miner Vale SA will use unmanned equipment for the removal of iron ore mining waste to help shut down two dams at imminent risk of collapse in Minas Gerais state, according to a securities filing on Monday. The announcement comes two years and four months after the collapse of a tailings dam at its mine in the town of Brumadinho that killed roughly 270 people, in one of the world's worst mining disasters.

jul 06 - Glencore names Kalidas Madhavpeddi as new chairman

Swiss commodities trader Glencore said on Monday Kalidas Madhavpeddi will take over as its new chairman at the end of the month, when Tony Hayward retires after eight years in the role. U.S.-based Madhavpeddi joined the board of the London-listed miner in February 2020 and is better known as the chief executive of China Molybdenum International (CMOC), a role he covered for almost ten years until 2018.

Jul 05 - Global copper smelting eases in June; nickel pig iron jumps

Global copper smelting activity slipped in June after a rebound a month earlier as Chinese plants closed for maintenance, data from satellite surveillance of copper plants showed. Satellite service SAVANT and broker Marex said in a joint statement on Friday that they were now monitoring nickel smelters, which showed weak refined nickel production, but a jump in nickel pig iron (NPI) activity.

Jul 05 - GM shakes up lithium industry with California geothermal project

General Motors Co is investing in a U.S. lithium project that could become the country's largest by 2024, making the automaker one of the first to develop its own source of a battery metal crucial for the electrification of cars and trucks. The deal, announced on Friday, comes as automakers around the world scramble for access to lithium and other electric vehicle (EV) metals as internal combustion engines are phased out.

Jul 02 - Brazil iron ore exports hit 9-month high in June, government says

Brazil's iron ore exports reached 33.68 million tonnes in June, the highest volume in nine months, as major producers like Vale shipped more in response to higher international prices, official government data showed on Thursday. June exports were up 12.2% compared with the same month last year, the data showed. Compared to the previous month, June exports were up 26.3%. Commodities prices have been rising globally, and iron ore prices have been bolstered by strong demand from China.

Jul 02 - Shortages flagged for EV materials lithium and cobalt

As the world moves to meet stringent targets for cutting carbon emissions - partly by phasing out internal-combustion-engine cars - demand for lithium, cobalt and nickel vital for electric vehicle batteries will soar, raising the prospect of shortages. High lithium prices have failed to spur investment in new capacity due to lower long-term contract prices, while the problem for cobalt supply is that it is mainly a byproduct of copper, meaning investment decisions are based on copper prices.

Jul 02 - Glencore enters new era under Gary Nagle's stewardship

Gary Nagle takes the helm at Glencore Plc on Thursday, a changing of the guard that shareholders hope will allow the mining giant to move past a U.S. Department of Justice (DoJ) investigation and lift its share price. Nagle, 46, is South African and an accountant by profession, as was his predecessor Ivan Glasenberg, earning him the nickname "mini-Ivan". He has run the company's coal assets division for the last two years.

Jul 01 - UK to extend quotas and tariffs on most steel imports 

Britain said on Wednesday it would introduce new regulations to help defend its steel industry after accepting a recommendation from its newly established Trade Remedies Authority to scrap some quotas on imports. Trade minister Liz Truss said the government only had the option of accepting or rejecting the recommendations in full, which said quotas and tariffs should be retained for 10 categories of steel for three years, and revoked in nine others.

 Jul 01 - U.S. EPA weighs Taseko copper mining process akin to fracking

Taseko Mines Ltd wants to produce copper in Arizona using a process that evokes oilfield fracking, but first the company has to convince the U.S. Environmental Protection Agency that it will not harm the state's water supply. The Canadian firm, which said it expects an EPA decision imminently, wants to use a process that involves injecting sulfuric acid and water deep underground to break up a mineral deposit. Uranium miners in rural parts of Australia and the United States have used the process, known as in situ leaching, for decades, but it has rarely been used to extract copper.

Jul 01 - Australia grants $131 mln loan for Olive Downs coal project

The Australian government approved a A$175 million ($131.25 million) loan to support development work on the first stage of the privately-owned Olive Downs metallurgical coal project in Queensland, the minister for resources said on Thursday. The financial support lent by the Northern Australia Infrastructure Facility (NAIF) comes as banks and financial institutions are facing increased pressure to stop supporting coal and other fossil fuel projects.