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Glencore, a multinational energy and mineral producer, has been forced to join many other mining companies to idle its nonferrous and coal operations in several countries to cooperate with the respective countries’ efforts in containing the COVID-19, according to a company release on the afternoon of March 26 Central European Timezone.
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In a move seen as boosting trading activity and delivery volumes, the Shanghai Futures Exchange (SHFE) intends to temporarily waive physical delivery fees on all its listed commodities beginning April 10 until January 8 next year, according to a SHFE notice on March 17.
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The Dalian Commodity Exchange (DCE) headquartered in Northeast China’s Liaoning province is progressing with the launch of liquified petroleum gas (LPG) futures and options contracts, Mysteel Global has learned. The exchange is currently collecting public feedback about the contract designs and will accept submissions until March 13.
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China Hongqiao Group, the country’s leading aluminum producer headquartered in East China’s Shandong province and listed in Hong Kong, has recently secured the financing for its second-phase alumina expansion in Indonesia to double the capacity to 2 million tonnes/year by the end of 2020, market sources confirmed on Friday.
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Production Summary
Note: South32’s financial year runs
from July to June.
Unless otherwise
noted: percentage variance relates to performance during the half year ended
December 2019 compared with the half year ended December 2018 (HoH) or the
December 2019 quarter compared with the September 2019 quarter (QoQ);
production and sales volumes are reported on an attributable basis.
Source:
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Zijin Mining, one of China’s biggest gold producers, announced on November 4 that it had entered into a share purchase agreement with Freeport-McMoRan (Freeport) to buy the latter’s copper-gold assets in Serbia. With the completion of the acquisition, Zijin will own essentially 100% of both zones of the Timok copper-gold mine.
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Sales of new-energy vehicles (NEVs) in China continue to show signs of stalling, given a series of negative factors including the prevailing softening economy, the county’s cooling automotive sector generally, and the reduction in subsidies for NEV purchases since late June, market sources said.
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Domestic production and sales of new-energy vehicles (NEVs) across China are showing signs of weakness, largely as a consequence of the central government’s move to reduce generous subsidies on NEVs that over the past few years had helped automakers to enjoy substantial growths in electric car sales.
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Production summary
Unless otherwise noted: percentage variance
relates to performance during the September 2019 quarter compared with the June
2019 quarter (QoQ); production and sales volumes are reported on an
attributable basis.
Source: South32, released on October 17
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The semi-annual reports released by some major Chinese automobile producers over the past few days showed that most witnessed declines in their H1 net profit from softening sales amid the overall weakness in the country’s auto industry, Mysteel Global has learned. However, some makers of new energy vehicles (NEVs) still earned good profits during the half.
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Shandong province in East China is still dealing with the damage after the Typhoon Lekima slammed the region on August 11-12, and industrial enterprises such as nonferrous smelters and steel mills have their operations affected, Mysteel Global understood from the local companies on Wednesday.
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Inspectors from the local government of North China’s Shanxi province have begun investigating complaints that alumina plants in the province are responsible for serious leaks from sludge dumps that are causing pollution. Thus, market sources fear alumina supplies could be significantly affected.
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Nickel and copper production at Brazilian mining giant Vale declined during this year’s January-March quarter from October-December, mainly due to lower mill processing rates and maintenance at some of its works, according to the company’s Q1 production report released on May 8.
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A shrewd tweak of its business plan last year saw China Hongqiao Group, the country’s leading privately-owned integrated aluminum producer, double the share that sales of alumina enjoyed in its overall business, the Shandong-headquartered company’s latest annual report shows.
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Jiangxi Copper, one of China’s leading copper smelters and headquartered in Southeast China’s Jiangxi province, plans to spend nearly Yuan 3 billion ($447.4 million) to acquire a 29.99% interest in China’s leading gold producer, Shandong Humon Smelting Co, to further expand its gold business, according to Jiangxi Copper’s latest announcement on March 5. Shandong Humon is based in Yantai city in East China’s Shandong province.
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Mines in North China, especially those producing non-ferrous metals, are bracing for disruptions to their operations fearing central and local government authorities will respond with vigour to last Saturday morning’s horrific accident in an underground silver mine in Xilin Gol League in North China’s Inner Mongolia.
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Hongkong-listed Zijin Mining Group, also a top gold and copper miner in China, will fully acquire Canada’s Nevsun Resource, a prospective nonferrous mining company with copper, zinc and gold resources in Africa and Serbia of Europe, at a cost of $1.39 billion, all in cash payment, according to a Zijin announcement on September 6.
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London-based global miner Rio Tinto confirmed on May 23 that it was in discussions to unwind its entire 40% interest in the Grasberg copper and gold mine in Indonesia for $3.5 billion.
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Six died and two were injured at a tunnel collapse at the US gold miner Newmont's Ahafo Mill expansion project in Ghana, West Africa, on April 7, according to a company notice.
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Australian gold miner Newcrest Mining will restart mining operations at Cadia East in New South Wales on March 27 after a 17-day halt following the tailing dam failure on March 9, the company disclosed.
