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China and electric cars drive new commodities supercycle
Demand from the world s second-biggest economy China has sent metal prices soaring, but some investors want even bigger rises gains first
8 May 2021 • 12:01pm
The price of iron ore, a key ingredient in making steel, rose above $200 a tonne for the first time this week
Credit: AFP PHOTO / RIO TINTO
In his latest quest to find buried riches, Anglo-American boss Mark Cutifani has turned to the desolate mountains of southern Peru.
Here, among the dusty roads of Moquegua, work is underway on the $5.3bn (£3.6bn) Quellaveco copper mine, the company’s biggest new project in more than a decade.
Glencore’s trading arm saw commodity prices soar
Glencore’s trade year started the year strong, as rising commodity prices pushed it up as its global economic outlook improved.
The Swiss-based company, which is also a major miner, said year-over-year profits from its marketing unit would be at the top end of the $ 2.2 million and $ 3.2 million policy.
Coal-fired products have risen due to strong demand from China and elsewhere as the global economy emerges from the coronavirus pandemic.
Copper, which is used from household appliances to electric vehicles, was traded on Wednesday for more than $ 10,000 a tonne, starting with Covid-19 minimums in March 2020.
Vale mulls base metals spinoff to tap EV market
Tailings’ filtration plant at Vargem Grande complex, delivered in March 2021. (
Brazil’s Vale (NYSE: VALE), the world’s no.1 nickel producer, is evaluating a potential spinoff of its base metals division as part of the miner’s growing interest in the electric vehicles (EV) sector.
The company, which is said to be in talks with Tesla and others in EV supply chain actors about securing nickel from its Canadian operations, is in the midst of expanding its Voisey’s Bay site in the province of Newfoundland and Labrador.
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Vale mulls base metals spinoff to tap EV market
Vale’s Voisey’s Bay nickel-cobalt-copper mine in Labrador, where Cobalt 27 Capital holds a cobalt stream. Credit: Vale.
Vale (NYSE: VALE), the world’s no.1 nickel producer, is evaluating a potential spinoff of its base metals division as part of the miner’s growing interest in the electric vehicles (EV) sector.
The company, which is said to be in talks with Tesla and other EV supply chain actors about securing nickel from its Canadian operations, is in the midst of expanding its Voisey’s Bay site in the province of Newfoundland and Labrador.