Spot gold was up 0.2 per cent at $2,848.69 per ounce, after hitting a record high of $2,853.97 earlier in the session
The venture will initially invest $1.2bn over four years in mining companies in emerging markets in Africa, Asia and Latin America
The venture will focus on energy transition minerals, with commercial lithium production scheduled to commence by 2027
The precious metal has been found spread across a 32-kilometre long stretch
First Quantum owns the Kansanshi and Sentinel copper mines in Zambia, which have become key to future output after Cobre Panama’s shutdown
The deal is valued between $963.25m and $1.06bn (BHD363m and 398m), and the proceeds will help SABIC grow in the chemicals industry
The potential deal is set to reshape the aluminium market, positioning the merged entity as one of the largest aluminium producers worldwide
The deal, which is expected to be completed in Q1 2025, is subject to regulatory and corporate approvals
Saudi Arabia plans to award more than 30 additional mining exploration licences to foreign investors in 2024
Rise in aluminium and gold sales volume boost Saudi mining giant’s earnings
The kingdom is working to secure access to lithium and other minerals as part of its goal to turn itself into a hub for battery and EV manufacturing
London Metal Exchange will undertake consulting on the final rulemaking around the Jeddah expansion, but said it remains positive on that initiative
Vedanta could sell up to 30 per cent of its shareholding in the Konkola assets
Water supply is a major challenge for the lithium industry, following persistent drought in the South American country
Chile is the world’s second-largest producer of lithium
The kingdom’s growing mining industry is a key pillar in Crown Prince Mohammed Bin Salman’s Vision 2030 programme to diversify the economy away from oil dependency
Tosyali is pursuing investment opportunities in Europe and the Americas as it aims to become one of the world’s top 30 iron and steel producers
The company is still determining which extraction method to use, but will likely begin with a mix of direct lithium extraction and evaporation pools
The mining company’s strategic investment in ANS Exploration represents a proactive approach to identifying and collaborating with partners that exhibit promising growth prospects
The transaction represents the largest investment ever made in the Australian fertiliser industry
Vale and Manara Minerals is a joint venture between Saudi Arabian Mining Company, Ma’aden, and Saudi Arabia’s Public Investment Fund