Glencore reports lower metals production for the first nine months and reiterates outlook
Glencore reported on Wednesday lower production of copper, cobalt and zinc for the first nine-month period, but it reiterated its expectation that its trading profit would reach the upper end of its long-term target range…
Teck Resources Q3 profits beat estimates due to higher copper production
Teck Resources, a Canadian mining company, beat its third-quarter profit expectations on Thursday thanks to higher copper production at the Quebrada Blanca mine. According to LSEG,…
Bunge's takeover of Vicentin, a bankrupt soy company, is set back by court decisions in Argentina
A court in Argentina has ruled an agreement between Vicentin, the soymeal giant, and its creditors unconstitutional. This will hinder any attempt to takeover the bankrupt company that is stuck in a long legal battle.
After Nevada lithium deal GM looks for other sources of minerals to supply EVs
General Motors plans to increase its North American investment in lithium and other minerals that are used in the production of electric vehicles, after increasing its investment to…
The UK will try Glencore's former head of oil in 2027 on charges of bribery
In 2027, Glencore's former oil head Alex Beard will be tried in London on charges of bribery along with five other former employees of the Swiss commodity trading company. Beard was…
European mining and luxury stock prices tumble as global China rally fades
The European mining and luxury stocks fell on Tuesday, as the stimulus-backed frenzy to buy Chinese-exposed shares faded outside of mainland China. This was after officials failed in…
Sources: Rio Tinto is in negotiations to purchase lithium miner Arcadium.
Rio Tinto is in talks with Arcadium to purchase its lithium mine, according to three sources who have direct knowledge of these negotiations. This would make Rio Tinto the third largest…
Australia's Santos signs LNG deal with TotalEnergies
Santos, an Australian gas supplier, announced on Wednesday it had signed a contract for a midterm supply of liquefied gas with TotalEnergies Singapore. Santos said that under the contract…
Richard Holtum is named new CEO of Trafigura
Trafigura announced on Tuesday that Richard Holtum would take over as CEO of the global trading house Trafigura at the start of next year. On the same day, Jeremy Weir will be taking…
New refineries bring down profits for global refiners
Oil refiners across Asia, Europe, and the United States have seen their profitability drop to multi-year-lows. This is a significant downturn in an industry which had previously enjoyed booming returns following the pandemic.
Andy Home: Nickel market is no longer worried about Russian supply
The market has shrugged off the suggestion by Russian President Vladimir Putin that Moscow could consider capping nickel exports in retaliation to Western sanctions. The London Metal…
Sources confirm that Egypt has awarded the tender for 20 LNG winter cargoes to Egypt.
Four trading sources said on Friday that Egypt's recent bid for 20 cargoes (cartons) of liquefied gas to cover winter demand following a sharp decline in domestic production has been fully allocated.
Glencore's former head of oil is charged with bribery in a UK court
Alex Beard, former Glencore head of oil, appeared before a London court Tuesday to answer bribery allegations relating to Glencore's operations in Africa. Beard's lawyer told the London…
Santos LNG from Australia to Glencore Singapore
Santos, an Australian company, announced on Wednesday that it had signed a contract for a midterm supply of liquefied gas with Glencore Singapore. Glencore Singapore is a subsidiary of the London-listed Glencore.
After the closure of the furnace, KNS, a new Caledonian nickel company, is looking for a new investor.
KNS reported on Tuesday that talks with potential buyers of Glencore's Koniambo Nickel SAS stake are continuing, after the New Caledonian Nickel producer shut down their furnaces at the weekend.
US CFTC fines energy traders
The U.S. Commodity Futures Trading Commission ordered TOTSA TotalEnergies Trading SA on August 27 to pay a fine of $48 million for alleged gasoline price manipulation. Ian McGinley…
Andy Home: Zinc concentrations are squeezed but metal is not in short supply
The global zinc mine production is continuing to decline and raw material shortages are now beginning to affect China, in particular. The 14 Chinese smelters that account for 70% of…
Andy Home: Zinc concentrations are squeezed but metal is not in short supply
The global zinc mine production is continuing to decline and raw materials are now beginning to squeeze, especially in China. In an effort to maintain operating margins, a group of…
Official from RPT-Argentina says that lithium and copper will drive metal exports up to $10 billion by 2027
Luis Lucero, Argentina's Mining Secretary, said that the country's mining exports would more than double in 2027 to $10 billion from $4 billion. This is due to a slew of new lithium projects and a nascent push for copper.
BHP's return in Argentina is a new sign of hope for copper mines that are still untapped
More than half a dozen officials from the mining industry said that a new incentive program for mining in Argentina has attracted major players like BHP. They are now looking to the…
