The mining world has been pulled in every direction in 2023: a collapse in lithium prices, intense merger and acquisition activity, a bad year for cobalt and nickel, key Chinese mining moves, new records for gold, and government intervention in the mining industry on a scale not seen in decades. Here is a roundup of some of the biggest events in the mining industry in 2023.
The record high gold price this year should be unmitigated good news for the mining and exploration industry. Despite all the rumors surrounding battery metals and the energy transition, the mining and exploration industries remain the backbone of the primary market.
Metals and minerals markets are volatile at the best of times - the 2023 plunge in nickel, cobalt and lithium prices is extreme, but not entirely unprecedented. Rare earth producers, platinum watchers, iron ore followers, and gold and silver investors have all seen worse.
Mining companies have become more adept at navigating choppy waters, but the forced closure of one of the largest copper mines to come on stream in recent decades is a stark reminder of the enormous risks they face in addition to market volatility.
