Afghanistan’s news agency Khaama Press reported that President Mohammad Ashraf Ghani cancelled the contracts held by the Turkish Afghan Mining Company TAMC and the Afghan Gold and Mineral Company AGMC, which allowed them to exploit the Badakhshan gold mine and the Balkhab copper mine in the northern Sar-e-Pul province. Both TAMC and AGMC are joint ventures (JVs) formed by US-based […]
Vedanta Ltd. has sought approval from the administration of the southern Indian state of Tamil Nadu to repair its copper smelter as the plant is “crumbling” after being ordered to remain shut for more than a year. The factory’s cooling towers and pipe ducts have collapsed, Pankaj Kumar, chief executive officer of the unit, Sterlite […]
Cumulatively for FY19, the export of the metal and its products dropped by whopping 69.4% to $1.065 billion, against the previous fiscal due to the shutdown of Sterlite Copper smelter plant at Tuticorin in Tamil Nadu, said Engineering Export Promotion Council (EEPC). The export of copper and copper products in March 2019 declined sharply by […]
Oil prices plunged last Friday after China unveiled new tariffs on $75 billion worth of American goods, a move that reignited fears about a global economic slowdown. China’s higher tariffs hit American soybeans, pork, beef, and interestingly, crude oil as well. China had become a major buyer of U.S. shale oil in recent years and has refrained from hitting […]
India’s per capita copper consumption is expected to increase from the present level of 0.5 kg to 1 kg by 2025. “While infrastructure will spur demand growth of refined copper in the country other key drivers would include thrust on increasing urbanization, development of industrial corridors, smart city projects, housing for all Indians by 2022, […]
The International Copper Study Group (ICSG) recently released its copper report covering 2018, which estimated a global refined copper deficit of 390,000 tons in 2018. According to the ICSG report, world mine production increased by an estimated 2.3% in 2018. “The increase in world mine production of about 460,000 t copper was principally due to […]
Pakistan’s military is taking a key role in the development of one of the world’s biggest untapped copper and gold deposits, which is currently stalled by a multi-billion dollar legal wrangle with foreign mining firms, multiple sources familiar with the situation revealed to Reuters News Agency. The Reko Diq mine has become a test case […]
Glencore has become the latest energy heavyweight to succumb to climate change pressure and has announced it will stop raising its coal production capacity, CNBC reports. The Swiss company’s current thermal coal production capacity is 150 million tonnes annually, which makes it the biggest single exporter of the commodity. But as pressure mounts on the energy […]
A report by Wood Mackenzie, the global research analyst firm has listed out five things to watch out for in the metals market in 2019. The success of China’s economic reform programme will have a strong influence on the metals market this year. On balance, fundamentals have improved, but geo-political concerns continue to dog the […]
Concentrate exports from Indonesia’s Grasberg mine, the world’s second-largest copper mine, will drop about 85% this year because of a lag in output while operations shift from open pit to underground mining, a government official told Reuters said on Wednesday. It is believed shipments this year are expected to fall to 200,000 tonnes from an […]
