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...The London-listed oil and metals trader purchased at least 5,000 tonnes of copper sheets made by Russia’s Ural Mining and Metallurgical Company (UMMC) that were exported from Turkey to Italy’s Livorno port...
...Western banks have been gradually retreating from a type of lending they once dominated in mainland China after suffering losses and being exposed to fraud....
...In one example of the change, Rio is trying to secure permission to build a copper mine in Arizona that the company believes could meet a quarter of American demand for decades....
...Norilsk Nickel, the metals group controlled by Russia’s richest man Vladimir Potanin, will move some copper smelting production from its home country to China, as western sanctions restrict access to key...
...Hammond, who had been an adviser to Copper, was made chair in 2023 following a fundraising that valued the company at $2bn. He holds a “small stake” in the group....
...The US has been actively brokering Saudi, Emirati and Qatari investment in riskier jurisdictions, such as the Democratic Republic of Congo, where western companies struggle to enter, in order to keep China...
...The latest sanctions do not prevent Russian companies from rushing to move metals produced before April 13 into LME warehouses or conducting bilateral deals independently of metals exchanges....
...Looking ahead, costs at Pilbara are expected to tick up due to “persistent labour and parts inflation in Western Australia”....
...Henry stressed that nickel was BHP’s smallest division and that it saw other resources including copper, potash and iron ore as stronger growth drivers for Australia’s largest company by market capitalisation...
...Regulators in Utah and South Carolina are moving to force five insurers to limit their exposure to 777, according to an official memo seen by the FT....
...Some other western miners have secured supply purchase deals with companies: Australia’s Lynas, which received concessional financing from Japanese government entities, reached one with Japan’s Sojitz conglomerate...
...For three decades, international mining companies have tussled with officials and locals over a patch of desert around an extinct volcano in Pakistan’s neglected, insurgent-prone western province of Balochistan...
...Its Kennecott copper mine in Utah produces 150,000 tonnes a year....
...The copper issues relate to a conveyor belt outage at its Kennecott mine in Utah and “geotechnical challenges” at its joint venture Chilean mine Escondida, which is the largest copper mine in the world....
...Melbye said the growth in the nuclear sector and western nations’ increased focus on energy security had opened an opportunity for US producers....
...Australia’s largest company also cut production guidance for its Queensland coal operations, which it owns with Mitsubishi, but production of copper and iron ore, important commodities for the company, improved...
...The company is also investing in its new Rhodes Ridge prospect — one of the largest undeveloped iron ore prospects in the world — in the Pilbara region in Western Australia, the Mongolian Oyu Tolgoi copper...
...The company flagged higher spending on the giant Simandou project in Guinea, which is being developed with Chinese companies, the new Rhodes Ridge prospect in Western Australia and other initiatives in copper...
...It hosts primary listings for industry giants Rio Tinto, Glencore and Anglo American, as well as Chilean copper producer Antofagasta and Endeavour Mining, which operates gold mines in west Africa....
...The supply of industrial metals such as copper, lead and zinc is typically 0-2 per cent above or below annual demand....
...Besides the graffiti and parachuting, bandits had been stripping the building of copper wire, he said....
...Both mines were sold to CMOC by US copper mine Freeport McMoran after pressure from activist investor Carl Icahn....
...It is also negotiating with Chilean state copper mining group Codelco over its flagship lithium concession that is due to expire in 2030....
...An essentially American — and potently western — craving for land stoked it further. “Let us, then, not despise the plains,” wrote a journalist of the day, “but turn their capacities to best account.”...
...While copper remains Zambia’s biggest export, taxpayer and growth driver, most output today comes from mines in its North-Western province and not the neighbouring Copperbelt, the industry’s once-beating...
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