Metals News Results

  • Rio Tinto Accelerates Carbon Targets While Pivoting Toward Growth - Update

    Rio Tinto PLC (RIO) accelerated plans to shrink its carbon footprint and said it intends to spend more on projects to mine commodities needed for a global energy transition. With investor and public pressure mounting for resources companies to respond to climate change, the world's second biggest miner by market value on Wednesday more than tripled a 2030 emissions reduction target and said it will lift annual capital spending with a focus on increasing its output of materials...

  • BHP Plans to Creep Past Iron-Ore Shipment Target in Medium Term -- Commodity Comment

    BHP Group Ltd. (BHP), the world's biggest mining company by market value, Tuesday said it produced less iron ore, copper, metallurgical coal and nickel in its first fiscal quarter versus a year ago, although output of petroleum and energy coal increased. Here are some remarks from its operational report. "Western Australian Iron Ore production decreased by 6% to 62 million tons, mainly reflecting higher planned maintenance during the quarter, including major maintenance of car dumper...

  • BHP First-Quarter Iron Ore, Copper Output Falls

    BHP Group Ltd. (BHP) produced less iron ore, copper and steelmaking coal in its first fiscal quarter mostly because of planned maintenance work at its operations. The world's biggest mining company by market value said it produced 63.3 million metric tons of iron ore in the three months through September, down 4% year-over-year and 3% lower than the quarter immediately prior. BHP reiterated that it expects to produce between 249 million and 259 million tons for the year through June,...

  • Rio Tinto Sees Battery Metal Demand Supported by EV Sales Jump -- Commodity Comment

    Rio Tinto PLC (RIO), the world's second largest mining company by market value, on Friday cut its 2021 shipment and output guidance for commodities including iron ore, citing setbacks including labor shortages and plant disruptions. Here are some remarks from its report. "Aggregate shipments of the major seaborne suppliers are trending flat year-on-year and are not expected to regain their 2018 levels for the third consecutive year.

  • 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...

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