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Metals and Mining Industry News
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Simandou Iron Ore Project: Guinea’s 120Mtpa export system ramps up in 2026
The Simandou Iron Ore Project in southeast Guinea is a high-grade iron ore, railway and port development led by SimFer, WCS, Rio Tinto, Chinalco, Baowu and the Government of Guinea, with shared rail and port infrastructure designed to export up to 120 million tonnes per year from the SimFer and WCS concessions combined.
Thacker Pass Lithium Project: Nevada’s 40,000tpa Phase 1 build advances toward late-2027 mechanical completion
The Thacker Pass Lithium Project in Humboldt County, Nevada is advancing through major construction, with Lithium Americas and General Motors targeting mechanical completion of a 40,000 tonnes-per-year battery-grade lithium carbonate Phase 1 processing plant in late 2027.
Umicore raises 2026 profit outlook as critical metals offset EV battery weakness
Umicore EBITDA rose 34% to €577 million as recycling and cobalt profits grew, while battery earnings relied on take-or-pay contracts.
Vedanta’s new CEO gets only one year to prove its giant break-up can create lasting value
Arun Misra will lead Vedanta Limited through its post-demerger transition as the company pursues critical minerals growth and another property spin-off.
Fortescue (ASX: FMG) shares fall as $525m Iron Bridge impairment overshadows record shipments
Fortescue shipped a record 201.3 million tonnes of iron ore in FY26 and strengthened its balance sheet, but another Iron Bridge impairment and sharply higher FY27 cost guidance have complicated the outlook.
Carpenter Technology targets $1.3bn profit as aerospace alloy margins hit record
Carpenter Technology closed fiscal 2026 with record alloy margins and 34% profit growth as aerospace demand supported a stronger outlook.
Surge Copper files Berg mine plan as C$4.7bn financing test looms
Berg could produce 4.9 billion pounds of copper over 28 years, but financing, permitting and dilution will determine its development path.
ArcelorMittal EBITDA jumps 23% as European steel demand begins to recover
ArcelorMittal’s steel margins improved across major regions as European plants restarted and electrical-steel investment accelerated.
Endeavour Mining returns $301m as record cash flow funds Assafou growth
Endeavour Mining posted record first-half cash flow as higher gold prices offset rising costs and funded dividends, buybacks and Assafou growth.
Amaroq (AIM: AMRQ) tops 500,000 ounces as Main Market move nears
Amaroq’s Nalunaq resource has crossed 500,000 ounces at an exceptional average grade, but reserve conversion and production delivery will determine whether the milestone supports a broader institutional rerating.