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Chilean Codelco reports a drop in profits in 2023 due to declining production
Chilean copper giant Codelco reported gross profits of $3.12 billion for 2023, down 34 per cent year-on-year, after the state-owned company faced operational and production challenges. Codelco, the world's leading copper miner, reported production of 1.325 million...
Decline in Italian Steel Exports in 2023
In 2023, Italy experienced a significant contraction of 16.9% in the value of steel exports. This reduction was mainly attributed to lower prices, while quantities sold remained relatively stable, highlighting a difficult market environment for the sector. Variations...
Metal scrap: Turkish prices on the rise
In the past two weeks, scrap prices in Turkey have increased from $377.5/t mid-month to $381/t CFR on 21 March and to $385.5/t CFR on 26 March for HMS 1/2 80:20 from continental Europe, with shipments due in late April and May. In addition, an exchange between a...
Nigeria will only grant mining licences to companies working locally
Nigeria will only grant new mining licences to companies that submit a plan to process minerals locally, according to new guidelines being drafted. This is a change from Nigeria's decades-long policy of exporting raw materials as African governments take steps to...