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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...
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...
Aluminium: US seeks to revive industry with new smelter
The United States will build its first primary aluminium smelter in 45 years. The Biden-Harris administration has awarded $500 million to Century Aluminum to build a new green, low-carbon smelter. The goal is to halt what US consumers such as Ford Motor and PepsiCo...