Mining

    Gold is just taking a breath and the race is not over - Midas Discovery Fund’s Winmill teaser image

    Gold is just taking a breath and the race is not over - Midas Discovery Fund’s Winmill

    (Kitco News) - The gold market has taken another hit with prices dropping below $4,500 and testing critical long-term support at its 200-day moving average.

    Kitco Mining Channel

    US tariff doubling cut EU steel exports by 34%, steel body says

    BRUSSELS, June 4 (Reuters) - EU steel exports to the U.S. have fallen by 34% since Washington hiked tariffs to 50%, with higher duties ​on derivative products such as washing machines and motorbikes also ‌hitting European demand, steel industry association Eurofer said on Thursday.Steel exports to the U.S. fell to 1.94 million metric tons in the three quarters since the Trump ​administration doubled import tariffs on steel and aluminium from 25% a ​year ago.

    Oklahoma’s attorney general sues to block largest US aluminum smelter

    Oklahoma’s attorney general has filed a lawsuit seeking to block Emirates Global Aluminum (EGA) and Century Aluminum from building the largest U.S. aluminum smelter, citing concerns about the project’s ties to the United Arab Emirates and saying it could harm the state’s cattle.The suit was filed in state court on Tuesday by Republican Gentner Drummond, who is running for governor. It seeks to tap into the ongoing debate across the U.S. about the buildout of critical minerals projects, especially in rural towns with deep ties to farming and ranching.

    CopperTech Metals reports revenue surge in US IPO filing

    CopperTech Metals reported a jump in revenue in its filing for US initial public offering on Tuesday, as it looks to capitalize on the Trump administration’s policy push for mineral self-reliance.Activity in the US IPO market has rebounded with several big names such as Elon Musk’s SpaceX and AI giant Anthropic looking to go public.CopperTech Metals, a US-domiciled integrated copper and cobalt producer, was set up by global mining and natural resources conglomerate Vedanta Resources to own and operate the Konkola Copper Mines in Zambia’s copperbelt province.
    Indonesia’s PT Timah targets 30,000t of refined tin output for 2026 teaser image

    Indonesia’s PT Timah targets 30,000t of refined tin output for 2026

    Indonesian state tin miner PT Timah has set a refined tin output target of 30,000 metric tons for 2026, and is aiming for sales of 26,000 metric tons, the company’s director Ilhamsyah Mahendra said on Wednesday.This year’s output target is 68% higher than the 17,815 tons produced in 2025, while the sales target is 56% more than the 16,634 tons recorded last year.“In the first quarter, we surpassed the production and sales target, and the second quarter is pretty similar. The rhythm was good, the price is high, we must utilize the momentum,” Ilhamsyah told reporters.
    Zambia extends duty-free copper concentrate export duty waiver amid smelter outages teaser image

    Zambia extends duty-free copper concentrate export duty waiver amid smelter outages

    Zambia has extended the suspension of a 10% duty on copper concentrate exports to September 30, to help clear stockpiles of unprocessed material as the country’s major smelters undergo extended maintenance and repairs.Copper miners in Africa’s second-largest producer of the metal used in electrical infrastructure are undertaking lengthy smelter maintenance programs following technical challenges that have impacted processed output.
    Trump signs proclamation amending tariffs on steel, aluminum and copper imports teaser image

    Trump signs proclamation amending tariffs on steel, aluminum and copper imports

    US President Donald Trump on Monday signed a proclamation amending his Section 232 national security tariffs on some aluminum, steel and copper imports, the White House said.The proclamation lowers tariffs on some steel and aluminum derivative products, including certain types of agricultural machinery and residential heating, air conditioning and ventilation equipment to 15% from 25% previously.
    China tells steelmakers not to talk with Fortescue about new iron ore product teaser image

    China tells steelmakers not to talk with Fortescue about new iron ore product

    State iron ore buyer China Mineral Resources Group (CMRG) has told some domestic steelmakers not to engage in discussions with Australia’s Fortescue about a new iron ore product, two sources with knowledge of the matter said on Tuesday.The demand has stoked speculation that CMRG could impose a purchasing ban on some Fortescue products as it did during protracted negotiations with BHP that concluded earlier this year.
    Alba to buy French aluminum smelter in $2.2 billion deal teaser image

    Alba to buy French aluminum smelter in $2.2 billion deal

    Aluminium Bahrain (Alba) has agreed to acquire Aluminium Dunkerque, the European Union’s largest aluminum smelter, in a deal valued at about $2.2 billion, the company said on Tuesday.French state-backed investment bank Bpifrance is set to take a 6% stake for €100 million ($116.5 million), under a memorandum of understanding signed on the sidelines of the Choose France Summit.Bpifrance will have a seat on the board of Aluminium Dunkerque’s holding company.
    India’s financial crime agency searches Vedanta premises, ET says teaser image

    India’s financial crime agency searches Vedanta premises, ET says

    India’s financial crime-fighting agency on Tuesday searched premises linked to the Vedanta Group, the Economic Times reported, citing officials.The Enforcement Directorate was conducting the searches as part of an investigation under India’s Foreign Exchange Management Act, the report said.Details of the alleged violations were not immediately available.The company is extending full cooperation to the authorities and is providing all information sought, a Vedanta spokesperson said to Reuters.
    Russia launches repeat auction of stake it seized in gold miner UGC teaser image

    Russia launches repeat auction of stake it seized in gold miner UGC

    Russia on Tuesday launched an auction for the sale of a 67.2% stake in gold producer Uzhuralzoloto, which the state confiscated from a businessman last year, the state property agency Rosimushchestvo said.It said it would accept bids until June 9, with the results due to be announced on June 10.Russia last month failed for a second time to auction the stake after only one bidder submitted a complete application and paid the deposit, while a second contender failed to pay the deposit and provide the required documents.
    US picks Louisiana, Oklahoma rare earth projects for $134M funding teaser image

    US picks Louisiana, Oklahoma rare earth projects for $134M funding

    The US Department of Energy said on Tuesday it has selected projects in Louisiana and Oklahoma for $134 million in funding to extract rare earth elements from waste streams.Washington has been pushing to boost domestic critical minerals output and cut dependence on China, which dominates the global rare earths supply chain.The funding includes about $67 million for a project led by the Colorado School of Mines and ElementUSA to build a facility in Louisiana that will extract and refine rare earths from bauxite waste.
    Chinese coking coal hits 19-month high on supply concerns teaser image

    Chinese coking coal hits 19-month high on supply concerns

    Chinese coking coal prices rallied on Monday to hit a 19-month high, as a provincial-level mine safety meeting in coal-rich Shanxi reinforced supply concerns stoked by production halts at some mines following a deadly accident last month.Shanxi in northern China held a meeting on Saturday on a special rectification campaign for safety risks and hidden dangers in coal mines, according to a WeChat post from local official media on Sunday.
    EU starts first investment roadshow in South Africa targeting minerals teaser image

    EU starts first investment roadshow in South Africa targeting minerals

    Some 200 companies attended a European Union investment roadshow in South Africa on Monday, vying for a slice of €12 billion ($13.98 billion) in investments the bloc has pledged amid global rivalry over critical minerals.The EU’s first investment roadshow, hosted at the Johannesburg Stock Exchange, marks the first major attempt at mobilizing capital under the 2025 EU-South Africa Clean Trade and Investment Partnership.
    Tesla drops threat to scrap graphite supply deal with Syrah teaser image

    Tesla drops threat to scrap graphite supply deal with Syrah

    Australia’s Syrah Resources said on Monday Tesla has ‌withdrawn a notice of intent to end their graphite supply deal over an alleged quality default, accepting the miner is now producing conforming samples.Under its 2021 contract with Elon Musk-led Tesla, ​Syrah aimed to supply 8,000 metric tons of graphite anode materials ​over a four-year period from its Vidalia plant in Louisiana.