Billionaire Anil Agarwal-owned Vedanta group has acquired Goa-based Nicomet, a leading nickel and cobalt producer. The acquisition is in line with Vedanta’s ESG mission and is a big step towards supporting India’s carbon neutrality goals. With this acquisition, Vedanta has become the country’s sole producer of nickel, the company said in a statement. “The move is […]
The world’s historic pivot toward curbing carbon emissions is likely to spur unprecedented demand for some of the most crucial metals used to generate and store renewable energy in a net-zero emissions by 2050 scenario. A resulting surge in prices for materials such as cobalt and nickel would bring boom times to some economies that […]
Aluminium prices have surged amid supply disruption worries following a report that a smelter in China had stopped production after an explosion. An aluminium plant in China’s Yunnan province with annual capacity of 300,000 tonnes has stopped production after an explosion on Thursday evening, Shanghai Metals Market reported. The most-traded January aluminium contract on the […]
China’s Shenzhen Chengxin Lithium Group Co Ltd and an affiliate of steel and nickel giant Tsingshan Holding Group will invest in a $350 million Indonesian lithium project to capture demand from the electric vehicle (EV) battery sector, Reuters reported. Tsingshan, which shook up the global nickel market by rapidly increasing production at low cost in […]
Global nickel mine production is expected to grow by 6.8 per cent to reach 2,427.4 kilotonnes in 2021, after registering an estimated 4.2 per cent decline to 2,272 kilotonnes last year owing to covid-related lockdowns and restrictions, says GlobalData. In its latest report, the data analytics company noted that Indonesia (+16.3 per cent), the Philippines (+5.1 […]
Every week since April this year, Chinese authorities have announced measures to control the price of many commodities, including energy and metals. China has been trying to cool surging commodity prices by releasing inventory from its strategic reserves. The higher prices of oil, coal and metals have raised manufacturing costs, slowed down factory activity growth, and increased inflation […]
The Philippines’ annual export revenue from its mineral extraction industry could increase by up to $2 billion over the next five to six years as new mining projects take off, the Southeast Asian country’s government said. In April this year, Philippines president Rodrigo Duterte had lifted a moratorium on new mineral agreements imposed in 2012, […]
Saudi Arabia plans to auction two major mining licenses in 2022 as the world’s biggest oil exporter seeks foreign investments into a sector that has $1.3 trillion in untapped potential reserve value, the vice-minister for mining affairs told S&P Global Platts. “We are planning for two major auctions of licenses next year for commodities including […]
As economies reopen in various parts of the world, metals prices have increased by 72 per cent relative to their pre-pandemic levels – reaching a nine-year high in May 2021. The increase has been broad-based across industrial metals – copper is up 89 per cent in May 2021 (year-over-year), iron ore is up 116 per […]
The nickel price will remain on a gradual uptrend in the long term as the global market remains in deficit, prompting Fitch Solutions to upgrade its long-term nickel price outlook from $15,750 per tonne to $16,500 per tonne for 2021. London Metals Exchange nickel prices are expected to tick lower than present spot levels in the coming months, as demand from steel […]
