Sumitomo Metal Mining Canada is investing about C$14.5 million to gain a 9.9% interest in FPX Nickel (TSXV: FPX).

BHP Group said on Thursday it was reassessing the value of its nickel operations after a price slump, in a move that could lead to writedowns amid an oversupply of the metal used in electric vehicle batteries.

Rio Tinto, the UK-based mining giant, has reported that its iron ore shipments from Western Australia(WA) in 2023 totaled 331.81 million tonnes

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According to data from the Brazilian Ministry of Development, Industry, and Foreign Trade (Mdic), iron ore exports reached a total of 378.5 million metric tons in 2023.

“We did not agree to this arrangement, nor do we have any information about the financial wherewithal of this holding company to actually stand behind all of the obligations of our existing agreements,” asserts the USW in its statement.