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Deep contango in LME base metals signals weak nearby buying interest

Spot prices for copper and aluminum in London have moved to sharply deeper discounts to the three-month contract this week.

Reuters | June 11, 2024 | 10:34 am

Indonesia details plans to limit development of nickel smelters - report

Indonesia considers terminating permits for some nickel pig iron production

The world's biggest nickel producer is experiencing a rapid depletion of ore after a surge in downstream investment.

Reuters | June 11, 2024 | 7:48 am

Iron ore slumps on fresh China lockdown worries

Iron ore price tumbles to 2-month low on concerns over weakening China demand

Iron ore supply has risen while demand has softened and showed little room for improvement, Sinosteel Futures said.

Reuters | June 11, 2024 | 7:45 am

Polymetal shares down as gold miner scraps final dividend

New-look Polymetal aims to double gold output with Central Asia M&A

The company may also look to enter new markets in Saudi Arabia and Oman.

Reuters | June 11, 2024 | 7:40 am

China’s central bank to return to gold buying as prices ease, analysts say

China's central bank added 60,000 troy ounces of gold to its reserves in April.

Reuters | June 10, 2024 | 5:21 pm

Rio Tinto to buy Mitsubishi’s near 12% stake in Boyne Smelters

In late May, Rio signed a deal to buy Sumitomo Chemical's 2.46% interest in the venture.

Reuters | June 10, 2024 | 3:53 pm

Nickel miner Vale Indonesia signs HPAL deal with China's Huayou

Vale Indonesia says Febriany Eddy reappointed as CEO as MIND ID deal approaches

Eddy will be on the new board of directors from the closure of MIND ID transactions, expected this month, until 2027.

Reuters | June 10, 2024 | 6:55 am

Pakistan closer to letting Barrick Gold proceed with $7bn project

China, Pakistan agree to strengthen mining cooperation

Pakistani Prime Minister visited Beijing in a bid to upgrade cooperation under the multi-billion dollar China-Pakistan Economic Corridor, a key part of Beijing's Belt and Road Initiative.

Reuters | June 9, 2024 | 9:14 am

Nippon Steel executive saw positive reaction from US Steel workers and others

Nippon Steel Vice Chairman Takahiro Mori returned to the US in an effort to close the deal amid growing regulatory scrutiny and political opposition.

Reuters | June 8, 2024 | 7:41 pm

Colombia halts coal exports to Israel over Gaza war

Colombia is reported to be Israel's biggest supplier of coal.

Reuters | June 8, 2024 | 7:27 pm

Chile copper output sinks to seven-month low

Codelco reaches agreement with Andina mine workers

At the end of May, Codelco wrapped up negotiations with two other unions at the mine.

Reuters | June 7, 2024 | 4:23 pm

Argentine lithium output up by almost half in first four months of 2024

The South American country, part of the so-called "lithium triangle" along with Chile and Bolivia, has attracted investments from foreign companies in Canada and China.

Reuters | June 7, 2024 | 1:14 pm

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