Sibanye-Stillwater flags $2.5bn write-down on metals prices collapse
Miner expects to report a 91% drop in annual profit for 2023 due to a sharp decline in metals prices and operational problems.
Miner expects to report a 91% drop in annual profit for 2023 due to a sharp decline in metals prices and operational problems.
President Gustavo Petro came into office in 2022 on a pledge to wean the country off its dependency on fossil fuels.
As miners struggle to find skilled labour, few companies are open about hiring workers outside Canada to meet their needs.
The government has announced a nickel financial assistance program that would give a 50% royalty rebate for 18 months.
Gravitricity has chosen the former Pyhäjärvi mine, Europe’s deepest copper-zinc mine, to deploy its technology.
The industry says such a move would be disastrous for the sector, which fuels 2.5% of gross domestic product.
The miners will explore new uses for PGMs, particularly palladium, in the hydrogen market amid weak demand for the metal.
The company posted a fourth-quarter net loss of $617.7 million, or $5.26 per share.
The gap in production for energy transition metals provides an opportunity for Canada.
Some think that technology will eventually find substitutes for metals. If only it were so easy.