BHP Group announced on Thursday a reassessment of the value of its nickel operations following a significant price decline, potentially leading to write-downs amid oversupply in the electric vehicle battery metal market. As the world’s largest listed miner, BHP, which entered into a nickel supply deal with Tesla in 2021, is revisiting its business strategy…
SolGold, a London-listed copper and gold exploration and development company, recently announced that its Cascabel copper-gold project in Ecuador could become one of the top 20 copper mines in South America. The news was welcomed by investors, as the company has been working hard to develop the project since it was acquired in 2014. The…
Europe’s Green Deal is a comprehensive and ambitious plan aimed at transforming the continent into a climate-neutral and sustainable society by 2050. At the core of this initiative is a shift towards renewable energy, electric mobility, and the reduction of greenhouse gas emissions. However, the path to achieving these goals faces a significant roadblock –…
When the world’s leading gold mining companies by market value are focusing on copper projects, it might indicate a problem with gold’s appeal. This week, the price of gold reached a new record high, exceeding $2,100 per ounce, driven by expectations of lower US interest rates and strong demand from Chinese households. However, major mining…
Iron ore prices have surged to their highest level in six months, as China plans to introduce more stimulus measures to boost economic growth. The price of iron ore, the key ingredient in steel production, rose to $90.70 a tonne on Monday, the highest level since early October 2019. The surge was driven by reports…
Teck Resources Ltd. has announced that it will spin off its coal operations into a separate company, to be named Teck Metals Ltd. The new company will focus on the exploration and development of mineral resources, including copper, zinc and lead. Teck Resources is one of the world’s largest producers of metallurgical coal and has…
In recent months, China has seen a rise in coal mine accidents as the country pushes for higher production. The increase in accidents comes as the country ramps up coal production and consumption in order to meet its energy needs. China is the world’s largest producer and consumer of coal, and it is estimated that…
The United Nations’ statement at the COP26 (26th UN Climate Change Conference of the Parties) regarding mining has sparked significant attention and debate. The statement, “Enough of mining…we are digging our own graves,” reflects growing concerns about the environmental and social impacts of mining activities. This article will elaborate on the context and implications of…
Despite a series of announcements by companies scaling back production in response to plunging prices, nickel futures continued their downward trend on the London Metal Exchange. The metal, used in stainless steel and electric-vehicle batteries, has seen a more than 40% decline from a year ago, primarily due to a global surplus. The market has…
Amidst the tumultuous waves of a global pandemic, Russia’s premier gold buyer, the nation’s central bank, has strategically doubled down on its investments in precious metals. As the COVID-19 virus continues to rage across the globe, the central bank’s move reflects a broader trend of seeking stability and hedging against economic uncertainties. Russia’s affinity for…