Chile

Glencore Plc has actually stopped operations at its McArthur River zinc and lead mine (MRM) in Australia following heavy rains this week, the company said on Thursday. The suspension could intensify a tightened up supply of zinc concentrates, feedstock to make refined zinc, which is primarily utilized to galvanise steel to protect it from rust. MRM has momentarily stopped operations as we keep track of flooding in the area and evaluate effects onsite at our operations, Glencore stated in a declaration. McArthur River mine is among the world's biggest zinc and lead operations. It produced 262,200 tonnes of zinc in...

The following bids, mergers, disposals and acquisitions were reported by 1950 GMT on Wednesday: ** Energy storage company VTTI will get a 70% stake in Italy's biggest melted gas (LNG) terminal with grid operator Snam owning the rest, the Milan-listed group stated, announcing a deal to be finalised by year-end. ** The principles consultant to Norway's $1.6 trillion sovereign-wealth fund is assessing whether to recommend the financier to divest its multi-billion dollar stake in mining huge Rio Tinto for ecological concerns, the Wall Street Journal reported, mentioning people familiar with the matter. ** Abu Dhabi investor Lunate stated it had...

Mexican state energy business Pemex and billionaire financier Carlos Slim's team are Discussing ways to revive advancement of the country's deepwater natural gas field that was shelved two times previously, 2 sources told . The sources, both with direct understanding of the matter, stated executives of companies controlled by the Slim household consulted with Pemex on Tuesday to talk about the Gulf of Mexico gas field. One of the sources stated the parties had accepted reunite. The Lakach field has actually been hailed as a possible entrance to a. new deepwater Mexican gas frontier. The sources said Pemex. stated it...

BHP Group bid $38.8 billion for Anglo American on Thursday, offering an offer to forge the world's greatest copper miner and driving its smaller rival's shares 16% higher. Mining's newest transfer to consolidate is driven by a scramble for copper and other metals main to the world's tidy energy shift, and could have major repercussions for South Africa, which has seen the platinum it mines fall out of favour. BHP said it will offer 25.08 pounds ($ 31.39) per Anglo share, a premium of 31% from Wednesday's close, and draw out its London-listed target's iron ore and platinum properties in...

Anglo American on Tuesday reported an 11% boost in its copper output for the very first quarter of the year, however slashed its 2024 production assistance for diamonds. The London-listed miner stated its copper production increased to 198,100 metric loads in the very first three months, buoyed by a. ramp-up in production at Quellaveco in Peru. Still, the miner said it would maintain its 2024 output. guidance for the metal at 730,000-790,000 heaps. Need for copper, utilized in applications from solar panels to. electrical cars and trucks, is anticipated to increase as the world relocations. towards cleaner energy sources. However...

The Chilean government's. decision to impose antidumping tariffs on 2 steel products. from China boosted shares of the regional steelmaker CAP on Monday,. which chose to suspend an announced closure of a plant. The shares of the regional steel company rose up to 3.1% during. Monday morning on the Santiago Stock Exchange. Chile's financing ministry published a decree over the weekend. that enforced a provisional antidumping responsibility of 24.9% on steel. bars to make traditional grinding balls with a size. of less than four inches and 33.5% on steel balls of the same. measurements coming from China. In March, CAP...

Chile's staterun copper miner Codelco should concentrate on enhancing its production, however it has a global status that would not be tarnished if it cedes its role as Chile's leading producer to competing BHP, Mining Minister Aurora Williams stated on Thursday. Codelco, the world's largest copper producer and a sign of nationwide pride, is intending this year to reverse 2 years of falling production in a quote to not only enhance profits but also buttress Chile's sway over international markets. That strategy has been complicated as cost overruns and hold-ups, including mishaps, have dogged maintenance and growth jobs. While Codelco...

Chile's struggling state-owned copper giant Codelco will be able to diversify its business, improve cash flow and change its service profile with its entry into the lithium market, Moody's. stated on Wednesday. Chile's federal government in 2015 tasked Codelco with enhancing. state control of the country's lithium industry through. partnerships with personal companies. Moody's says the electrical car (EV) industry will keep. interest in lithium high despite the current reduction in costs,. which was partially due to increased production. Codelco is going to be a considerable manufacturer of 2. products that are vital for the energy transition. worldwide, Barbara Mattos,...

Growing need for copper together with supply constraints might push rates higher than last year in 2024, the head of Chilean miner Antofagasta said. Speaking ahead of the World Copper Conference that begins on Monday, Antofagasta CEO Ivan Arriagada said an improving worldwide economy plus the increasing requirement for the metal utilized in electric vehicles, solar panels and other aspects crucial to the energy transition created a favorable circumstance. The trajectory we anticipate is towards higher levels, he stated in an interview last week, compared to last year's prices that he stated remained in the series of $3.80 to $3.85...

More global copper smelters were not running in March than in the very first 2 months, information from satellite surveillance of metal processing plants revealed, after Chinese smelters proposed to cut output and operations elsewhere undertook prepared upkeep. Earth-i, which specialises in observational data, tracks smelters representing approximately 90% of worldwide production for its Sage service and offers data to money supervisors, traders and miners. The business said that approximately 17.7% of international copper smelter capability kept an eye on was inactive in March compared to 11.5% throughout January and February combined. Typical inactive capacity in China increased to 9%...

Chilean state miner Codelco, the world's greatest copper miner, stated in a. statement on Thursday that its production for the first 3. months of 2024 landed near 300,000 metric heaps. We are recovering and will continue to do so, Codelco. chair Maximo Pacheco informed lawmakers from a committee visiting. its major Teniente mining complex. All of our employees are striving to satisfy our. production goal and reverse the circumstance we've experienced of. falling production and crucial task delays. Pacheco said lower production over the last couple of years. could be discussed by lower ore grades, a pit wall collapse and....

Chilean miner SQM's board chairman challenged what he called the doubtful intentions of a major shareholder, China's Tianqi Lithium Corp, the latest jab in an significantly public spat over SQM's planned partnership with state copper producer Codelco. Tianqi, a global lithium rival that holds about 20% of SQM shares, recently raised concerns over openness in the talks with Codelco, which is slated to take a 50% plus one share stake in the brand-new joint venture start in 2025 under a government policy focused on enhancing state control in Chile's lithium market. SQM, the world's No. 2 lithium manufacturer, and Codelco...

Chile state miner Codelco , the world's biggest copper manufacturer, stated on Thursday it had actually signed a brand-new threeyear cumulative labor agreement with the union representing workers at its northern Radomiro Tomic mine. The arrangement was signed on Wednesday but comes into force retroactively beginning April 1, the company said, without offering information on the modifications agreed in the new agreement. Codelco values its dialogue and shared vision with the STRT union and its associates, which is vital to strengthening safety management, accomplishing production goals and building together today and future of Radomiro Tomic and the company, the miner...

Chile's government on Tuesday opened more than two lots lithium salt flats to private financial investment, while reserving the respected Atacama and Maricunga deposits for state bulk control in lithium extraction. The long-anticipated statement clarifies how President Gabriel Boric's government plans to carry out a policy revealed in 2015 to enhance state control over the South American country's lithium industry, the world's second-largest after Australia. The opening to fresh tasks could more than double Chile's. production of lithium, a key product for electrical automobile. batteries, in a decade, stated Finance Minister Mario Marcel. What we revealed a year back is...

Chilean miner SQM's board chairman challenged what he called the doubtful intentions of the business's significant shareholder, China's Tianqi Lithium Corp, the newest jab in a progressively public spat over SQM's planned collaboration with state copper producer Codelco. Tianqi, an international lithium rival that holds about 20% of SQM shares, last week raised concerns over transparency in the talks with Codelco, which is slated to take a 50% plus one share stake in the brand-new joint endeavor beginning in 2025 under a government policy focused on increasing state control in Chile's lithium industry. SQM, the world's No. 2 lithium manufacturer,...