asxstocks
Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has implemented force majeure for alumina exports from its refineries in Queensland, Australia, due to prolonged disruptions in gas supply, according to media reports. The notice, which affects third-party alumina sales, is the company's response to ongoing limitations in gas availability due to damage to a Queensland pipeline; it was caused by fires, which led to restricted gas flow. The expected timeline for restoring full gas flow capacity has been extended to the latter half of 2024. Rio Tinto’s Yarwun refinery and Queensland Alumina will continue to op...
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Lucapa Diamond Company (ASX:LOM) has announced a strategic decision to divest its 70 percent stake in the Mothae mine in Lesotho as part of a broader plan to streamline its operations and focus on core assets. The Tuesday (May 15) decision comes after the release of the company's first quarter production and sales report at the end of April. In it, Lucapa outlines both achievements and challenges across its diamond operations. In Q1, the company’s Lulo mine in Angola sold 8,746 carats, generating US$9.4 million in revenue. While there were no exceptional diamond tenders during the quarter, a t...
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Auric Mining (ASX:AWJ) has commenced Phase 2 of gold production at Jeffreys Find, with nearly 20,000 tonnes of ore delivered to the Coolgardie mill. The company’s managing director, Mark English, said the company is poised make a “substantial amount of money” in 2024 as it intends to double its production amid high gold prices. “We'll make sure to generate around $7 million worth of gross revenue out of this parcel. So throughout 2024, (with) 300,000 tonnes (of gold ore) going through that mill, we will certainly double our production on what we did compared to 2023 … This year, we'll do a min...
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The gold price started 2024 coming off December's record highs. A combination of central bank buying and geopolitical uncertainty helped gold remain above US$2,100 per ounce for the first eight weeks of the year. However, a rally in early March gave gold renewed momentum. Support came on the back of contracting US manufacturing numbers, which caused investors to speculate that the US Federal Reserve would start rate cuts in June. This belief gained further strength when the central bank met on March 19 and 20, and indicated that it was done with rate hikes and was expecting to make three cuts ...
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South32's (ASX:S32,OTC Pink:SHTLF) latest quarterly report reveals how Tropical Cyclone Megan has impacted its Australian manganese operations in Groote Eylandt, located in the country's Northern Territory. The company reported a 13 percent decline in saleable production of the metal at the location, amounting to a reduction of 352,000 wet metric tonnes over the nine month period ended in March of this year. The cyclone, which wreaked havoc on March 16 and 17, unleashed rainfall of 681 millimetres accompanied by powerful wind gusts, marking it as the second strongest cyclone to hit the area in...
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Boss Energy (ASX:BOE,OTCQX:BQSSF) announced on Monday (April 22) that it has produced the first drum of uranium as part of the commissioning process at its Honeymoon project in South Australia. “Processing the first drum of uranium is a major milestone,” said Managing Director Duncan Craib. “As well as marking the start of production and cashflow, it shows conclusively that our mining and processing strategy is highly effective.” Boss said it's now looking to accelerate its plan to expand production and extend Honeymoon's life. According to the company, the current mine plan only uses 36 milli...
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Artificial intelligence (AI) may be an emerging technology, but there are plenty of billion-dollar companies in this space. As the market has grown over the past few years, AI technology has made strong inroads into several key industries, including logistics, manufacturing, finance, healthcare, customer service and cybersecurity. While AI-driven advancements in robotics have received the most press in recent years, the latest buzz has centered around OpenAI’s ChatGPT. This intelligent chatbot shows how quickly generative AI is advancing, and has attracted the attention of heavyweight technolo...
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Major diversified miner Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) weathered both operational challenges and a tragic loss to deliver a resilient performance in the first quarter of 2024. Despite grappling with the aftermath of a devastating plane crash that claimed six lives, including four Diavik diamond mine employees, the company has emerged with stable operational results. “We delivered stable operating results in the first quarter, including improvements at our bauxite and aluminum businesses, as we navigated seasonal challenges across our global operations. Our full year guidance is unchanged...
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Uranium has broken out, with the spot price rising to a 16 year high of US$106 per pound in early 2024. Despite a pullback, prices were still 30 percent higher than last year's average as of April. Although the market's turnaround has taken time, experts are predicting a bright future as countries around the world pursue clean energy goals. Against that backdrop, ASX-listed uranium companies have been making moves in 2024. Below the Investing News Network has listed the top uranium stocks on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener on April 10, 2024, ...
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Piedmont Lithium (NASDAQ:PLL,ASX:PLL), one of North America’s leading lithium suppliers, announced on Monday (April 15) that the North Carolina Department of Environmental Quality (NCDEQ) has given its stamp of approval for the company's US$1.2 billion mining and processing plant project in Gaston County. “This is an exciting day for all of us at Piedmont Lithium. I would like to thank the leadership and staff at NCDEQ and (the Division of Energy, Mineral and Land Resources) for their diligence in the process, as well as the members of our team who worked rigorously for more than two and a hal...
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