Sumitomo Metal lifts FY profit forecast on higher gold prices, weak yen
Net profit is now forecast at $373 million for the year to March 31, 2024, up from May guidance of $290 million.
Net profit is now forecast at $373 million for the year to March 31, 2024, up from May guidance of $290 million.
The shares will be sold to MIND ID, Indonesia's state mining holding company.
Aneka Tambang, Indonesia Battery Corporation and a consortium led by LG are building the facility as part of a $9.8 billion “grand package” to build battery production onshore.
Move marks the first time a US government agency has included copper on one of its official “critical” lists, following the examples of the European Union, Japan, India, Canada, and China.
The Wa region is estimated to have accounted for over 70% of Myanmar's tin production in 2022.
Despite the personnel moves, there aren’t yet signs of permanent retrenchment among hedge funds in metals.
Apart from Asia and Oceania, all other regions outside China recorded increasing levels of activity.
The Metals Company is ready to apply for a mining licence next year, with production expected as early as the fourth quarter of 2025.
The foreign ministry would agree on a UK-Zambia Green Growth Compact, aimed at generating £2.5 billion pounds of British private sector investment.
Trafigura’s metals unit is already under fire after announcing in February it was the victim of a massive alleged nickel fraud.