$1 billion SPAC deal shows how mining supply chains are breaking up

It goes without saying that the recent appreciation of the greenback has weighed on gold prices.

The deal, valued at $3.3 billion, gives Rio Tinto a 66% stake in the giant Oyu Tolgoi copper-gold mine in Mongolia.

“We can secure lithium via a purchase contract, we can be a co-investor into a new mine development, we could buy material providers,” says Citroen chief Vincent Cobee.

Some buyers have said they are shunning Rusal's metal, while others are securing price discounts at the same time as the industry negotiates supply deals for 2023.

John Elkann, the scion of Italy’s Agnelli clan, sees potential for a “new Tesla” to emerge from the current wave of energy transition.

In a snapshot of the global project pipeline, Miningintelligence data provides a ranking of the largest projects in 2022.

Approximately 600 million crowns of losses stem from Sandvik's wind-down in Russia.

Glencore put zinc sulphide operations at the Portovesme plant on care and maintenance in November 2021, but continued production of zinc recycling and lead.

Reuters sources say the exchange was planning to discuss banning new deliveries of Russian metal so its warehouses cannot be used to offload hard-to-sell stock.