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Salares Norte project section temporarily put on hold to ensure chinchilla protection

Published: 20 May 24

NYSE- and JSE-listed Gold Fields has announced that its Salares Norte project, in Chile, has received an urgent and transitionary measure (MUT) from Chile’s Superintendence of Environment (SMA). The MUT orders the immediate suspension of dismantling Rocky Area No 3, located at the North waste dump of the mine. This rocky area is one of the areas that had been identified as a possible location of the chinchillas present on the Salares Norte property.

Hermosa stands out as the sole advanced mining project in the US capable of producing two federally designated critical minerals – zinc and manganese.

DoD dollars to help drive domestic manganese production at South32's Hermosa

Published: 20 May 24

The US Department of Defense (DoD) has awarded diversified miner South32’s Hermosa project, in Arizona, $20-million to support domestic manganese production. The money will be matched with a $43-million investment by Australia-headquartered South32 to fund activities to support access to the manganese deposit.

European Ferrochrome Benchmark price to be discontinued

Published: 20 May 24

JSE-listed chrome producer Merafe Resources has advised that the quarterly European Ferrochrome Benchmark (EUBM) price will be discontinued with effect from June. The company will, therefore, no longer publish the EUBM price on the JSE news service.

China's iron-ore supply to rise by up to 10Mt in 2024, steel association says

Published: 20 May 24

China's domestic iron-ore concentrate output in 2024 will rise between 5-million and 10-million metric tons from the year before, its State-backed steel association said on Friday. "The key domestic iron-ore projects have made noticeable progress thanks to efforts from various parties," the China Iron and Steel Association (CISA) said in a post on its WeChat account.

Copper hits record above $11 000 on bets that shortage looms

Published: 20 May 24

Copper surged to its highest-ever level, extending a powerful, months-long rally driven by financial investors who’ve piled into the market in anticipation of deepening supply shortages. Futures on the London Metal Exchange jumped more than 4% in early Monday trading, taking copper past $11 000 a ton for the first time. The market has seen many optimistic forecasts, and BHP Group’s wants to buy rival Anglo American chiefly for its copper mines.

Gold hits fresh record as Fed rate-cut optimism fuels demand

Published: 20 May 24

Gold notched a fresh all-time high, as investor demand soared across the broader metals complex amid increasing optimism the US will cut rates this year. Bullion jumped as much as 1.1% to hit $2 440.59 an ounce in early Asian hours, surpassing a previous intraday record reached in April. Traders have boosted bets in recent sessions that the Federal Reserve could reduce borrowing costs as early as September.

With financing secured, Alpha HPA greenlights Stage 2 project

Published: 20 May 24

Australian critical minerals company Alpha HPA on Monday announced a final investment decision for the second stage of its high-purity alumina (HPA) refinery in Gladstone, Queensland, on the back of a positive definitive feasibility study (DFS) and securing A$520-million for the development. The financing comprises A$320-million credit, along with a A$80-million cost overrun, from government agencies and a fully underwritten institutional placement of A$120-million.

AIC probing ‘high potential incident’ at Eloise

Published: 20 May 24

Copper miner AIC Mines has suspended operations at its Eloise mine, in north-west Queensland, following a “high potential incident” over the weekend. The incident involved an underground loader straying off course while preparing a stope area for backfilling, resulting in a loss of control and becoming stuck.

The cathode side of proton exchange membrane (PEM) fuel cells that convert hydrogen to electricity require platinum.

Platinum-enabled green molecules offering inviting green electron value-add – Nedbank

Published: 20 May 24

It’s no longer good enough to just produce electric vehicles (EVs). You have to produce green EVs, and to do that, you need green steel. To get the green steel, you need the green molecules that green hydrogen provides.

Rough diamonds produced by Alrosa in Russia

US lukewarm on G7 Russian diamond ban after industry backlash

Published: 19 May 24

The United States is re-evaluating the strictest elements of a ban on Russian diamonds from the Group of Seven major democracies, after opposition from African countries, Indian gem polishers and New York jewellers, seven sources said. The sanctions package, agreed in December and including a ban across the European Union, represents one of the industry's biggest shakeups in decades.