|

BHP Group may sell Australian operations

ByVictoria

Mining giant BHP Group flagged rising costs and delays at a giant potash project in Canada and said it may sell its Australian nickel operations, as it reported record annual iron ore and copper production.

The company said Friday it faces rising costs at the Jansen potash project in Canada’s Saskatchewan province, its only major development currently under construction.

The company said it is also reviewing Jansen’s second stage, which is roughly 11% complete. BHP may delay first production from that expansion by two years, to fiscal 2031, because it reckons there might be more potash supply coming into the market over the medium term than previously envisaged.

BHP said it expects to produce between 1.8 million and 2.0 million tons of copper in the year ahead.

Source – The Wall Street Journal

Similar Posts

  • / /

    Northern Superior Resources announcement

    ByVictoria
    0 Comments

    Northern Superior Resources Inc is pleased to announce that it has completed the acquisition of the Hazeur, Monster Lake East, and Monster Lake West Properties originally announced on June 16, 2025 (the “ Transaction “), expanding its total land position in the Chibougamau Gold Camp from 60,016 hectares to 68,522 hectares.

    The Company sees potential to expand the Philibert deposit along strike to the west, particularly within multiple shear zones such as the Red Fox Zone, which historically has seen the most drilling.

    “This acquisition is a major step forward in unlocking the broader potential of the Chibougamau Gold Camp. Not only do these new properties host known gold mineralization and compelling exploration upside, but they also extend key geological structures directly linked to the Philibert deposit. Combined with recent drilling success and a growing resource base, Philibert is rapidly emerging as a cornerstone asset in a camp now coming into prominence on the global stage,” said Simon Marcotte, President and Chief Executive Officer.

    Source – USA Today

  • / /

    Gold adds to record rally amid trade war

    ByVictoria
    0 Comments

    Spot gold was up 0.8% at $2,864 per ounce by 09:24 a.m. ET (1424 GMT), after hitting a record high of $2,877 earlier in the session.

    “Gold continues to be largely influenced by trade uncertainties… the tariffs with China and the retaliation has the market on edge, so safe-haven flows remain the dominant factor,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Spot silver rose 0.4% to $32.23 per ounce, platinum gained 1.6% to $979.40 and palladium added 0.4% to $994.75.

    Source – Reuters

  • /

    Goldman Sachs forecasts up to 12 month copper prices

    ByVictoria
    0 Comments

    Goldman Sachs on Wednesday maintained its London Metal Exchange copper price forecasts for the next year, and said it expected the implementation of U.S. tariffs on copper imports to prevent a U.S. stock glut in the third quarter.

    Goldman forecasts three-, six-, and twelve-month LME copper prices at $9,600, $10,000 and $10,700 per metric ton respectively. The bank flagged a near-term downside risk to prices from a trade policy update due to take effect on April 2.

    Source – Reuters

  • /

    Copper in London declined after impact of US tariffs

    ByVictoria
    0 Comments

    Copper can sustain current levels around $9 400 a ton until early April, after which the implementation of US tariffs could see prices drop to $8 500 within three months, Citigroup analysts including Tom Mulqueen said in a research note.

    Copper fell 0.4% to $9,438.50 a ton on the LME as of 10:14 a.m. in Shanghai, while other base metals were mixed.

    Source – Mining Weekly

  • /

    Gold and major stocks fluctuate

    ByVictoria
    0 Comments

    Major stock indexes rallied, the dollar gained against the euro and other currencies while safe-haven gold dropped on Wednesday as investors grew optimistic about a possible de-escalation in the trade war between the U.S. and China.

    “There seems to be some light at the end of the tunnel here in terms of the trade war,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

    The euro was last down 0.36% against the dollar at $1.1379. Against the Japanese yen, the dollar strengthened 0.49% to 142.28.

    U.S. Treasury yields declined after the U.S. administration’s signal of a potential respite in the U.S.-China trade war and Trump’s softening stance on Powell.

    Source – Reuters

  • /

    CEO says Barrick will continue in Mali once they can ship gold

    ByVictoria
    0 Comments

    Barrick Gold will resume operations at its shuttered Loulo-Gounkoto mine in Mali once authorities in the country allow it to resume gold shipments, CEO Mark Bristow said on Wednesday.

    “We will start the operations as soon as we get approval to ship the gold and we need to ship the gold to pay anything to the government,” Bristow said, adding that Barrick paid $460 million to the Mali government last year.

    “So if you calculate that to per week… and every week we don’t do this it hurts everyone,” he added.

    Source – Reuters