Metals News Results

  • Zambia Half-Year Copper Output Fell 4%

    Zambia's copper production dropped 4% in the first six months of the year as some miners in Africa's second-largest producer of the industrial metal struggled with operational disruptions, the Ministry of Mines and Minerals Development said Wednesday. January to June production fell to 393,114 metric tons from 407,807 tons produced in the same period last year. The production drop dampens Zambia's prospects of raising copper output above 900,000 tons this year.

  • Platinum Market Swung to Surplus in 2Q -WPIC

    The global platinum market moved to a surplus in the second quarter of the year, as a backlog of the precious metal, which had built up due to stoppages at South African plants, began to be processed and to enter supply, the World Platinum Investment Council said Thursday. Supply outstripped demand by 161,000 troy ounces, the WPIC said in its quarterly report. That compares with a 93,000- ounce deficit in the first quarter and a 221,000- ounce deficit in the second quarter of 2020..

  • BHP, Bill Gates-Backed KoBold Metals Form Exploration Alliance

    BHP Group Ltd. (BHP), the world's largest miner by market value, has formed an exploration alliance with KoBold Metals, a Silicon Valley startup backed by Bill Gates-led Breakthrough Energy Ventures, the companies said on Wednesday. KoBold, which is focused on using artificial intelligence to find new sources of electric-vehicle and renewable-energy metals, will initially partner with BHP to search for commodities such as nickel and copper in Western Australia before expanding...

  • Tanzania Gold Exports Rose 9.9% in Year Ended July

    Tanzania's gold exports rose to to $3 billion in the 12 months to the end of July, up 9.9% compared with the year- earlier period, the country's central bank said Wednesday. The increase in exports from $2.73 billion a year earlier was largely thanks to relatively high gold prices in the world market, the bank said in its August economic review. The average price of the precious metal on the global market rose 16% on year, to $1,846.80 a troy ounce in the 12- month period, as uncertainty...

  • Glencore Invests in UK's Britishvolt, Will Supply Cobalt for Batteries

    Glencore PLC (GLCNF) said Tuesday that it has signed a partnership with and made an investment in U.K. lithium-ion battery- cell developer Britishvolt Ltd.. The Anglo-Swiss commodity trading and mining company said the deal is for the supply of cobalt to Britishvolt and includes an undisclosed investment amount. "As the mobility and energy transition accelerates, so does future demand for battery metals such as cobalt, copper and nickel.

  • Gold Demand Steadies as Jewelry Buyers Counter Falling Investor Appetite

    Gold demand was little changed in the first half of the year as a rebound in consumer demand for bars, coins and jewelry counteracted waning appetite from institutional investors, the World Gold Council said Thursday. Global demand for the precious metal stood at 1,833 metric tons in the first half of the year, 10% less than during the same period in 2020, the WGC said in its quarterly report. Demand in the second quarter stood at 955.1 tons, largely unchanged from the same period last...

  • BHP Inks Nickel Supply Deal With Tesla

    SYDNEY--BHP Group Ltd. (BHP) said it has signed a supply deal with Tesla Inc. (TSLA) for nickel, a commodity used in electric- vehicle batteries, from its Nickel West operations in western Australia. The world's biggest miner by market value said it and Tesla have also agreed to collaborate on sustainability efforts in the battery industry supply chain, such as ways to trace raw materials from pit to product using blockchain. BHP Chief Commercial Officer, Vandita Pant, said demand for nickel in...

  • BHP Expects Covid-19 to Remain a Challenge for Chile Mines -- Commodity Comment

    SYDNEY--BHP Group Ltd. Tuesday reported a lift in fiscal-year iron ore production, although weaker annual output of copper and petroleum. Here are some remarks from its fourth-quarter operational report:. "We achieved production records at our Western Australia Iron Ore operations and the Goonyella Riverside metallurgical coal mine in Queensland.

  • Rio Tinto Says Major Miners' Iron-Ore Supply Lagging Expectations -- Commodity Comment

    Rio Tinto PLC (RIO) on Friday recorded a sharp fall in second-quarter iron-ore shipments from Australia, while also notching year-on-year production declines for bauxite and copper. Here are some remarks from its operational report:. "The iron-ore price has remained resilient on a surge in demand while supply has struggled to keep pace.

  • China Investigates Bulk Commodity Prices and Supplies

    China's top economic planner and market regulator have sent teams to investigate recent price and supply trends of bulk commodities, the latest move by Beijing to rein in the sector's sharp rally this year. The groups, made up of officials from the National Development and Reform Commission and the State Administration for Market Regulation, will visit various cities and provinces to find out more about spot trading in commodities and the recent upstream supply and price...

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