PIF, Mitsui eye stake in Vale’s base metals business Vale is seeking to raise more than $2 billion from the deal, Bloomberg sources say. Bloomberg News | November 1, 2022 | 8:53 am
China Hongqiao: Plan to shift aluminum output on track despite Yunnan’s power woes The government ordered primary aluminum producers to cut their power usage by at least 10% in September. Reuters | November 1, 2022 | 8:37 am
Banks bolster metals-trading desks after wild year for markets Top banks are reinforcing their metals divisions to cash in on the volatility that’s lifted trading profits over the past three years. Bloomberg News | November 1, 2022 | 8:29 am
First Majestic drills 19.97 g/t Au over 20.9m near active underground mine area at Jerritt Canyon The latest results come from the area along the connection drift between the Smith and SSX underground mines. Staff Writer | November 1, 2022 | 8:27 am
Saudi Arabia courts Australian miners for $170 billion plan The kingdom says it’s sitting on top of $1.3 trillion worth of untapped mineral deposits including copper, zinc, phosphates, and gold. Bloomberg News | November 1, 2022 | 8:08 am
Lead to get more fund investment after joining BBG index The index looks at five-year averages of exchange liquidity and production data to determine which commodities are included and which weightings are assigned. Reuters | November 1, 2022 | 8:01 am
Vedanta expects revenue to jump to $50 billion in two years’ time – chairman Vedanta reported $16.05 billion in revenues in the fiscal year that ended in March. Reuters | November 1, 2022 | 7:56 am
Debswana posts 37.5% jump in 9-month diamond sales However, De Beers sees the risk of the market slowing down in the coming months due to a deterioration in global economic conditions. Reuters | November 1, 2022 | 7:47 am
Newmont’s third-quarter profit misses estimates The miner said its third-quarter gold production rose to 1.49 million ounces from last year's 1.45 million ounces. Reuters | November 1, 2022 | 7:42 am
