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Metals and Mining Industry News
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Hariom Pipe profit falls 30% after Perundurai shutdown, but Q2 starts with the plant back online
Hariom Pipe Industries Limited lost most of Q1 production from a Perundurai unit that generated 40% to 45% of FY26 revenue. The plant is running again, but reaching the company’s 30% volume-growth ambition now requires a steep acceleration.
Asante Gold cuts $50m of spending as Bibiani higher-grade ore becomes key to 2026 guidance
Asante Gold revenue surged 124% to $544M, but high costs and a $218M working-capital deficit make its H2 turnaround crucial.
Norsk Hydro could take a $75m to $100m Q3 hit from just 100,000 to 120,000 tonnes of lost alumina
Alunorte’s temporary gas disruption is expected to remove only 100,000 to 120,000 tonnes of alumina production, but Norsk Hydro ASA still sees a potential $75 million to $100 million Q3 financial impact because lost output is only part of the cost.
Valterra Platinum (JSE: VAL) earnings soar as higher PGM prices push mining margin to 50%
Valterra Platinum’s HEPS surged 1,634% and free cash flow reached R25.5 billion as PGM prices rallied, supporting a R57 interim dividend and R23.7 billion net cash position.
MAN Industries Q1 EBITDA jumps 93%, but the bigger Saudi Arabia test starts in Q2
MAN Industries delivered record Q1 FY27 EBITDA and a 14.6% margin, but only ₹43 crore of National Pipe Company revenue was consolidated. Full Saudi contribution, ₹3,600 crore of orders and new QatarEnergy eligibility now have to carry a much larger FY27 revenue target.
Develop Global fixes A$275m of Yitirrti build cost as GR Engineering signs full EPC contract
Develop Global locks A$275m Yitirrti EPC with GR Engineering, fixing the biggest slice of A$450m project capex ahead of June 2028 first concentrate.
BlueScope Steel (ASX: BSL) profit jumps 857% as North Star alone delivers 63% of group underlying EBIT
BlueScope profit surged 857% as North Star drove 63% of group underlying EBIT, while stronger FY27 guidance supports another A$3 per share return plan.
Norsk Hydro’s Alunorte refinery in Pará resumes ramp after temporary CELBA terminal deal
Norsk Hydro's Alunorte restart caps a $75-$100m Q3 hit as ANP clears self-import gas and CELBA grants temporary terminal access, with a long-term deal still open.
Antofagasta (LSE: ANTO) profit jumps 27%, but copper output cut exposes the risk behind record prices
Antofagasta plc delivered a 27% jump in first-half EBITDA and doubled its interim dividend, but a weather-driven Los Pelambres disruption has cut 2026 copper guidance just as higher prices make every lost tonne more valuable.
Antofagasta (LSE: ANTO) falls 6.8% as copper guidance is cut after strong H1
Antofagasta fell 6.8% after cutting 2026 copper guidance. Can Los Pelambres recover fast enough to meet its revised production target?