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...

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