|

JSW Group plans copper smelter by 2028-2029

ByVictoria

India’s steel-to-power conglomerate JSW Group plans to set up a 500,000 metric ton capacity copper smelter in the eastern state of Odisha by 2028/29 with feedstock of copper concentrate from Peru and Chile, a source directly aware of the matter told Reuters on Thursday.

JSW plans to feed its planned electric vehicle and battery manufacturing facilities with the copper produced at the smelter, the source added. Some of the concentrate supply will come from Hindustan Copper, the source said.

Source – Reuters

Similar Posts

  • / /

    Gold and Silver fell 1%

    ByVictoria
    0 Comments

    Gold fell over 1% on Tuesday after hitting a near four-week high, pressured by a firmer dollar as investors grew cautious ahead of a potential call between U.S. President Donald Trump and Chinese leader Xi Jinping.

    Spot gold fell 1.1% to $3,340.79 an ounce as of 10:21 a.m. ET (1421 GMT), after hitting its highest since May 8, earlier in the session.

    “We are moving into this period that is well known to be the summer doldrums, so there’s an expectation that the gold market could fall into a bit of a lull or a sideways consolidation,” said David Meger, director of metals trading at High Ridge Futures.

    “I believe the Fed is ready to begin to cut rates again, but more than likely not until September…that is another factor likely to weigh on the dollar and support gold,” Meger added.

    Spot silver fell 1.2% to $34.37 an ounce

    Platinum lost 0.4% to $1,059.32, while palladium was up 1.4% at $1,003.10.

    Source – Reuters

  • /

    China copper imports fall

    ByVictoria
    0 Comments

    China’s unwrought copper imports declined by 7.2% year-on-year to 837,000 metric tons in the first two months of 2025, customs data on Friday showed, due to increased domestic smelting capacity that reduced the need for additional imports.

    Deliverable copper stocks on the Shanghai Futures Exchange stood at 268,337 tons on February 28, more than double the 83,174 tons recorded on January 3.

    Source – Reuters

  • /

    Poland copper mining tax to end in 2026

    ByVictoria
    0 Comments

    Poland’s copper mining tax will fall from next year under a new system that will provide deductions related to investment spending, Polish finance minister Andrzej Domanski said on Friday.

    The tax on mineral extraction, including copper, was introduced in 2012. Poland’s biggest copper miner KGHM paid 3.87 billion zlotys in tax in 2024, according to its annual report.

    “By taking care of investments in Poland, by taking care of the development of KGHM, we also take care of the collective security of the West and the European Union.”

    Source – Reuters

  • Silver Price 2024 Year-End Review

    ByVictoria
    0 Comments

    This year has been an up and down ride for silver after 2023 but seems to have taken a turn in the last quarter of the year.

    News!

    “Silver fell to a quarterly low of US$30.11 on November 27, but since then the precious metal has regained some ground. As of December 11, it was trading at US$31.88.

    The next Fed meeting is set to run from December 17 to 18. Most analysts expect the central bank to make one last 25 basis point cut before pausing in 2025.”

    Source – Investing News Network

  • / /

    Marine Corps minted coins honoring 250th anniversary

    ByVictoria
    0 Comments

    The coins are available in gold, silver and clad metals and can be purchased individually or as a set. The $5 gold coin depicts the Marine Corps Color Guard; the $1 silver coin shows the flag raising at Iwo Jima; and the half-dollar clad coin features two Marines, one wearing the continental uniform of 1775 with a musket, and the other in modern-day camouflage uniform holding an M4 service rifle.

    Source – Stars and Stripes