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Rising supplies set to undermine iron ore price rally
Iron ore prices may extend their steep gains in coming weeks, buoyed by speculators and supply chain disruptions, but rising supplies are set to eventually undermine the rally. That was the highest level for the steelmaking raw material since January 2014 and brings...
China plans to boost cobalt reserves
China’s state stockpiling agency has drawn up plans to buy 2,000 tonnes of cobalt after the coronavirus pandemic highlighted the fragility of supplies of the strategic mineral. The National Food and Strategic Reserves Administration could put its purchasing plan into...
Rio Tinto cuts 2020 copper targets on Kennecott delay
Rio Tinto has cut its refined copper production target for fiscal 2020 due to delays in restarting a smelter at its Kennecott mine in Utah. The world’s second-largest miner expects the facility to be running again in two months. That would mean about 30,000 tonnes of...
Ivanhoe and China’s CNMC announce Africa partnership
Ivanhoe Mines on Tuesday announced a deal with China Nonferrous Metal Mining (CNMC) under which the companies would jointly look for African mining projects to explore, develop or acquire. Ivanhoe’s co-chairmen Robert Friedland and Yufeng Sun said the strategic...