The company hopes to raise between $300 million and $500 million to develop the mine
USA Rare Earth is working hard to build a domestic Rare earths supply chain as it prepares to go public and consider an initial public offering that could raise between $300 million and $500 million to fund Rare earths projects in Texas, according to sources familiar with the matter.
Copper prices rebounded
Copper prices rebounded on Wednesday despite concerns about weak demand ahead of the Lunar New Year holiday.
COMEX copper rose 1.1 percent to $3.5635 a pound ($7,856.21 a ton).
Global copper consumption is expected to rise 6 percent to 24.76 million tons this year after falling 1.3 percent last year, analysts said, adding that the future copper market is promising.
Brazilian Mining Association: Mining investment will continue to grow
Recently, the Brazilian Mining Association (Ibram) estimated that mining investment in the country will continue to grow, and is expected to reach $38 billion by 2024.
Of this, 40.7 per cent will be invested in iron ore, followed by alumina/bauxite (21.5 per cent), chemical minerals (16.7 per cent), copper (5.3 per cent), nickel (4.3 per cent) and gold (4.3 per cent).
Chinalco signed a strategic cooperation framework agreement with China Railway Corporation
This week, Chinalco and China Railway signed a framework agreement for strategic co-operation at the Chinalco Tower.
According to the agreement, the two sides will take supporting and serving the national strategy as the mission, adhere to the principle of complementary advantages, mutual benefit and win-win cooperation, and carry out all-round strategic cooperation in "going global" and other areas.
The underground mine at Chile's Teniente copper mine is to be expanded
Chile's national copper company, Codelco, has approved an investment of $1.24 billion to expand production at the Teniente underground mine in the O 'Higgins region, according to BNammericas.
Codelco said Diamanti would need to invest $730m, while Anstar would need to invest $513m.
The two projects, which require 65 kilometers of new tunnel development, will begin production in October 2022 and October 2023, respectively, the company said in a press release.
Bank of America expects silver to hit $35 an ounce
Silver has been the most watched precious metal in recent sessions as retail investors clamped down on short positions.
The price of silver rose sharply on Monday, but fell sharply on Tuesday, giving up nearly all of its gains.
Michael Widmer, a precious metals analyst at Bank of America, said in a report this week that he continues to be bullish on silver, which he expects to hit $35 / oz and possibly even hit a new all-time high near $50 / oz.
Standard Chartered: Gold on track for record in Q2
Recently, the precious metals market has been affected by the US stock market, there are more obvious volatility, but the gold price still can not have any breakthrough.
Standard Chartered thinks gold could still hit a record in the second quarter.
The overall macro environment remains bullish for gold, supported by a weaker dollar, negative real interest rates, more stimulus in the US, dovish monetary policy from the Federal Reserve and rising inflation expectations.
Vale produced less iron ore than expected in the fourth quarter
According to the report, Vale produced 84.5 million tonnes of iron ore in the fourth quarter of 2020, lower than analysts had expected, mainly due to increased rainfall in the region and tailings restrictions.
Production was down 5 per cent quarter-on-quarter, but up about 8 per cent year on year.
Mr Beatty will step down as chairman of Pan American Silver in May
Pan American Silver announced that founder Ross Beaty would step down as chairman in May and named Gillian Winckler as its new chairman.
Beatty, who has extensive geological experience, founded Pan American Silver in 1984 and has served as its chairman since then, and was its chief executive officer until 2004.
Petrobras will produce 2.26 million barrels of crude oil per day in 2020
Brazilian media recently reported that in 2020, Petrobras produced 2.26 million barrels of crude oil per day, up 4.3% year on year.
Among them, the daily export reached a record high of 713,000 b/d, up 33% year on year.
