Nickel spot prices were lower the last month. Nickel market news - The US government is reportedly examining price support mechanisms for domestic critical mineral projects. US Treasury allows miners to access clean energy manufacturing subsidy. Nickel company news - Eramet revises downwards its 2024 production targets for Comilog and PT Weda Bay Nickel.
Glencore PLC (LSE:GLEN) has maintained its production forecast for the current year even though most of its mining operations saw modestly lower output in their latest quarter. Cobalt saw the biggest drop, at 18% but copper, zinc, nickel and silver were also down with gold flat.
Cobalt spot prices were generally flat for the month. Cobalt market news: The US government is reportedly examining price support mechanisms for domestic critical mineral projects. S&P Global: Cobalt market expected to stay balanced 2024f-2028f. Cobalt miners news: Congo's state miner bids for Trafigura-backed Chemaf cobalt projects in the DRC.
Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) has announced the signing of definitive agreements to amend the terms related to the earlier sale of Glencore PLC (LSE:GLEN)'s Bolivian mining assets to Santacruz. The agreements, effective from October 3, 2024, include an omnibus agreement and an amended security agreement, following negotiations with Glencore.
ST. LOUIS , Sept. 12, 2024 /PRNewswire/ -- US Strategic Metals ("USSM" or the "Company") is pleased to announce it has entered into a strategic partnership with Glencore AG, a wholly-owned subsidiary of Glencore plc (together, with its subsidiaries, "Glencore") and Chilean Cobalt Corp. (OTCQB: COBA) ("C3") to explore domestic United States ("US") downstream processing of cobalt and copper inter...
Cobalt spot prices were lower for the month. Supply surge pushes Chinese cobalt metal prices to eight-year low. Cobalt market news - US military announces $20m grant to build cobalt refinery in Canada (see Electra news). Cobalt miners news - Glencore H1, 2024 cobalt production was down 27%. Jinchuan Group decided to temporarily cease the cobalt production in late May 2024 due to low prices.
Citi has renewed its enthusiasm for Glencore PLC (LSE:GLEN) describing it as a 'future-facing and cash today story'. After suspending its rating on the miner and commodity trader, it has resumed cover with a 'buy' rating and 530p price target.
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