Glencore Plc promised to double its dividend, restart some zinc production and boost spending as the world’s largest commodity trader reaps rewards from soaring metals prices.
Glencore sees global copper demand to increase by 4.1 million mt by 2030 driven by surging electric vehicles sales.
French mining company Alliance Miniere Responsable (AMR) has started bauxite production at its mine in Guinea with a production target of 6-10 million mtpy of aluminium ore.
Katanga Mining's Kamoto Copper has produced a first batch of copper cathode at its copper cobalt mine in the Democratic Republic of the Congo.
A strike is going to hit Teck Resources’ copper mine Quebrada Blanca in Chile on Wednesday due to a failure to agree on contracts mediated by the government.
Glencore plans to restart part of its zinc production during the first half of 2018 but the output next year will drop slightly to 1.09 million mt.
Shareholders of Shandong Nanshan Aluminium have approved the company’s plan to raise 5 billion yuan to invest in the 1-million-mt alumina project in Bintan Nanshan Industrial Park in Indonesia.
After getting new-round $1 billion financing led by Tencent, NIO Auto will go into the procedure of IPO.
Peru’s Doe Run submitted a restart plan of La Oroya smelter on Dec.7th, which is expected to finishe work within 4 months with a budget of $108 million.
Chinese electric vehicle battery producer Dynavolt Tech is signing a binding agreement with Canadian lithium miner Metalstech to purchase its 10 million stocks.
Today see a weaken open for nonferrous metals. SHFE Lead and Zinc slightly gain. SHFE Nickel drops 1%. SHFE Tin drops 0.81%.
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