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Trafigura Seeks Court Approval to Subpoena Wall Street Banks in Nickel Fraud Case 1 International Battery Metals Corporate News 

Trafigura Seeks Court Approval to Subpoena Wall Street Banks in Nickel Fraud Case

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Trafigura Group is seeking court approval to subpoena major Wall Street banks for information that could help the commodity trading giant trace over half a billion dollars lost in an alleged nickel fraud. The company is still pursuing the funds nearly two years after it was revealed that nearly $600 million worth of nickel, stored in containers, was actually low-value carbon steel. Trafigura is suing businessman Prateek Gupta and his affiliated companies in London for the funds. On Monday, Trafigura filed a request in a New York court to subpoena… Read More Here
Caterpillar shares fall most in 3 months on lower sales outlook 2 International Mining Equipment 

Caterpillar shares fall most in 3 months on lower sales outlook

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Caterpillar Inc. shares fell the most in three months after the heavy equipment maker warned that revenues will be “slightly lower” in 2025 with demand concerns weighing on its outlook. The stock fell as much as 5.1% as of 9:31 a.m. in New York, its biggest intraday decline since the end of October. Caterpillar’s guidance, disclosed with its fourth-quarter earnings report, arrives at a tenuous time for global manufacturers, given the tariff threats by US President Donald Trump that could drive up costs and affect supply chains worldwide. The warning… Read More Here
Cobalt Oversupply Challenges Market Despite Long-Term Growth Potential 3 Mining in DRC Cobalt 

Cobalt Oversupply Challenges Market Despite Long-Term Growth Potential

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The cobalt market is grappling with a significant oversupply, driven by unprecedented production levels, as demand for electric vehicle (EV) batteries grows more slowly than anticipated. While the market faces short-term challenges, the long-term outlook for cobalt remains closely tied to advances in battery technology and the global transition to renewable energy. Cobalt prices have dropped to their lowest levels since 2016, largely due to an oversupplied market and weak demand growth. As the global supply chain struggles with excess inventory, prices have seen a dramatic decline, underscoring the difficulties… Read More Here
B2Gold Moves Forward with $10 Million Investment in Mali’s Fekola Gold Complex After Settlement 4 Gold Corporate News International 

B2Gold Moves Forward with $10 Million Investment in Mali’s Fekola Gold Complex After Settlement

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Canadian miner B2Gold has announced plans to invest $10 million in exploration at its Fekola gold complex in Mali this year, following a settlement with the Malian government over its new mining code that reduces the risk of disruption. In August 2023, Mali introduced a revised mining code, similar to those enacted by other military-led governments in West Africa. The new code increases the state’s share of mining revenues and removes tax exemptions for mining companies. B2Gold was one of the first companies to reach an agreement with Mali over… Read More Here
M23 Rebellion's Rise Fuels Surge in Illicit Mining Revenues in Eastern Congo 5 Mining in DRC Regional conflict 

M23 Rebellion’s Rise Fuels Surge in Illicit Mining Revenues in Eastern Congo

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The M23 rebellion in the Democratic Republic of Congo (DRC) has accelerated its illegal mining activities, with analysts predicting an increase in illicit trade of minerals like coltan and gold, which are smuggled through neighboring Rwanda. This week, the Rwanda-backed insurgency made significant strides by capturing Goma, the largest city in eastern DRC, marking a pivotal moment in a conflict with government forces that has raised concerns about the potential for regional instability. While Rwanda denies supporting the rebels, analysts have pointed to the M23 group’s reliance on revenue from… Read More Here
Alphamin Resources Shares Drop Amid Goma Conflict in DRC 6 Mining in DRC Regional conflict 

Alphamin Resources Shares Drop Amid Goma Conflict in DRC

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Alphamin Resources’ stock dropped by 9.4%, its steepest decline in nine years, after Rwanda-backed rebels seized Goma, the capital of North Kivu province in the DRC, where the company’s tin mines are located. Earlier, shares had plunged by as much as a third before recovering. M23 rebels, having advanced rapidly, now patrol Goma, a key trading hub for DRC mineral exports to Rwanda. However, Alphamin’s tin, sourced from mines located about 120 miles west of the city, is sent northeast to Uganda, not through Goma. CEO Maritz Smith declined to… Read More Here
Kibali Gold Mine Achieves Record Performance and Strengthens Sustainability Efforts 7 Mining in DRC Corporate News Gold 

Kibali Gold Mine Achieves Record Performance and Strengthens Sustainability Efforts

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Barrick Gold Corp, headquartered in Canada, reports that its joint venture Kibali Gold Mine in the Democratic Republic of Congo achieved improved performance during the last quarter of 2024, culminating in its highest annual throughput since the mine’s commissioning. This milestone highlights the mine’s ongoing commitment to operational excellence and its ability to deliver strong results, according to the company. Sebastiaan Bock, Barrick Africa and Middle East COO, noted, “Despite facing challenges in 2024, including leadership changes and a necessary reset, Kibali has proven itself to be a reliable, low-cost… Read More Here
Glencore Reports Decline in Copper, Cobalt, Zinc, Nickel, and Thermal Coal Output for 2024 8 International Corporate News 

Glencore Reports Decline in Copper, Cobalt, Zinc, Nickel, and Thermal Coal Output for 2024

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Glencore reported lower production of copper, cobalt, zinc, nickel, and thermal coal in 2024, aligning with its guidance. The company produced 951,600 metric tons of copper, a 6% decline from 1.01 million tons in 2023, reaching the lower end of its forecasted range of 950,000 to 1.01 million tons. Copper, essential for electric vehicle wiring, batteries, renewable energy infrastructure, and data centers, faces increasing supply constraints due to declining ore grades and rising demand driven by the energy transition. Glencore will release its 2025 production guidance alongside its annual financial… Read More Here
FQM DRIVES ZAMBIAN MINING GROWTH WITH LANDMARK COPPERBELT GEOLOGICAL SURVEY 9 Mining in Zambia Exploration New Mining Projects 

FQM DRIVES ZAMBIAN MINING GROWTH WITH LANDMARK COPPERBELT GEOLOGICAL SURVEY

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LUSAKA, ZAMBIA – Recognising the vast untapped potential of the Copperbelt Province, First Quantum Minerals (FQM) has handed over a ground-breaking aerial geological survey of the Copperbelt to the Zambian government. The survey, entirely funded by FQM, addresses the lack of comprehensive documentation of the region’s mineral wealth, despite over a century of mining operations. Now complete, the survey has been officially handed-over to Zambia’s Minister of Mines and Mineral Development during a ceremony hosted by His Excellency President Hakainde Hichilema. The airborne geophysical data, which is available through the… Read More Here
Lusaka-Ndola Dual Carriageway to Assess Long-Term Concession Viability in Developing Economies 10 Mining in Zambia Infrastructural Development 

Lusaka-Ndola Dual Carriageway to Assess Long-Term Concession Viability in Developing Economies

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The Lusaka-Ndola dual carriageway project, a 327-kilometre road linking Lusaka with Ndola, will serve as a key test for the viability of long-term concessions in developing economies, according to Vicente Valencia, a Public-Private Development (PPD) specialist. With a total cost of US$650 million, the project has a 25-year concession period, consisting of three years for construction and 22 years for operation. Valencia emphasized that the success of this ambitious project hinges on factors such as toll affordability and traffic volume, which are critical to its long-term sustainability. Valencia highlighted the… Read More Here

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