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Polyus net profit up 63% on higher gold prices
Russian largest gold producer Polyus said on Monday that its second-quarter net profit rose 63% year-on-year to $684 million due to a 31% increase in gold prices. Its second-quarter adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were at...
World’s biggest copper supplier saw sales slump last month
The biggest copper-producing nation just offered further insight into why markets have been tightening of late. Chile, which had managed to maintain production near pre-pandemic levels, reported copper shipments of $2.76 billion for August, an 11% drop from July,...
GFG’s aluminium business looks along supply chain for takeovers
Alvance, the aluminium business of British commodities tycoon Sanjeev Gupta, is on the lookout for takeovers to triple production and create a vertically-integrated group, its chief executive said on Monday. The privately-held group is seeking acquisitions that...
Tesla joins cobalt group supporting artisanal Congo miners
Tesla Inc. is backing a new initiative to support informal cobalt miners in the Democratic Republic of Congo as carmakers and miners seek to reassure customers about ethically mined supplies of the battery metal. The company joined the fledgling Fair Cobalt Alliance,...