
Codelco Sticks to SQM Lithium Deadline as Deal Opposition Mounts
Amid mounting political opposition to the transaction heading into presidential elections, Codelco is sticking with its deadline of completing all pending approvals by the end of September, the Codelco official said. Those approvals include a final nod from Chilean nuclear agency CCHEN, community consultation and Chinese antitrust approval. China's Tianqi Lithium Corp. is a key shareholder in SQM.

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4 hours ago
- Yahoo
Sandvik gains Oyu Tolgoi's $28m order for underground mining equipment
Sandvik has secured an order valued at Skr270m ($28.3m) from Oyu Tolgoi LLC for underground mining equipment. The equipment, including loaders and trucks, will be used at the Oyu Tolgoi copper-gold mine in the South Gobi Desert, Mongolia. The order was recorded in the second quarter of 2025, with deliveries scheduled to commence in October and continue until November 2026. Sandvik Mining business area president Mats Eriksson stated: 'Sandvik loaders and trucks have consistently delivered industry-leading performance for Oyu Tolgoi, and we are very pleased to be able to continue to support safety, productivity and cost efficiency in the mining operations.' Oyu Tolgoi LLC, a joint venture between Rio Tinto and the government of Mongolia, operates the Oyu Tolgoi mine, which is considered one of the world's largest known copper-gold deposits. The partnership structure of Oyu Tolgoi comprises the government of Mongolia with a 34% stake and Rio Tinto with 66%. Rio Tinto also manages the operations. The Oyu Tolgoi mine has been producing copper concentrate since 2013, when its copper concentrator, Mongolia's largest industrial complex, began operations. The initiation of underground production in March 2023 has elevated Oyu Tolgoi to a leading position among global copper producers, with an expected peak production of 500,000 tonnes per annum (tpa). In addition to the mining equipment order, Sandvik Mining has also recently obtained IEC 62443-4-1 certification at Maturity Level 2. This certification underscores Sandvik's commitment to embedding cybersecurity measures into its product design and development processes. The IEC 62443-4-1 standard is an internationally recognised benchmark that ensures secure product development practices within the industrial automation and control systems sector. "Sandvik gains Oyu Tolgoi's $28m order for underground mining equipment" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
5 hours ago
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Newmont's Quarterly Earnings Preview: What You Need to Know
Valued at a market cap of $65.5 billion, Newmont Corporation (NEM) is one of the world's largest producers of gold, with major mining operations in regions including Nevada, Peru, Australia, and Ghana. The Denver, Colorado-based company also explores and produces other metals such as copper, silver, zinc, and lead, making it a key player in the global mining industry. It is expected to announce its fiscal Q2 earnings for 2025 after the market closes on Thursday, Jul. 24. Ahead of this event, analysts expect this gold producer to report a profit of $1.01 per share, up 40.3% from $0.72 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in three of the last four quarters, while missing on another occasion. In Q1, NEM's EPS of $1.25 outpaced the forecasted figure by a notable margin of 48.8%. Is UnitedHealth Stock a Buy, Sell, or Hold for July 2025? Michael Saylor Says 'You'll Wish You'd Bought More' Bitcoin as MicroStrategy Doubles Down Is Microsoft Stock About to Go Nuclear? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For fiscal 2025, analysts expect NEM to report a profit of $4.32 per share, up 24.1% from $3.48 per share in fiscal 2024. Its EPS is expected to further grow 12% year-over-year to $4.84 in fiscal 2026. NEM has rallied 44% over the past 52 weeks, considerably outpacing both the S&P 500 Index's ($SPX) 13% rise and the Materials Select Sector SPDR Fund's (XLB) 5% return over the same time frame. Newmont released strong Q1 results on Apr. 23, and its shares surged 4.8% in the following trading session. The company's revenue improved 24.5% year-over-year to $5 billion, while its adjusted EPS of $1.25 advanced 127.3% from the year-ago quarter, exceeding the consensus estimates by an impressive 48.8%. Moreover, it also reported a record Q1 free cash flow of $1.2 billion, reflecting the strength of its unrivaled Tier 1 Portfolio. A robust 40.9% year-over-year increase in average realized gold prices acted as a tailwind for the company. Additionally, Newmont remains on track to achieve its 2025 guidance and has reduced its debt by approximately $1 billion since the beginning of the year, further bolstering investor confidence. Wall Street analysts are moderately optimistic about NEM's stock, with a "Moderate Buy" rating overall. Among 20 analysts covering the stock, 12 recommend "Strong Buy," one suggests a "Moderate Buy,' six advise 'Hold,' and one indicates a "Moderate Sell' rating. The mean price target for NEM is $65.26, which indicates an 8.7% potential upside from the current levels. On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
6 hours ago
- Yahoo
Orano's uranium joint venture in Niger on brink of bankruptcy
French uranium mining company Orano has announced that its joint venture with Niger, SOMAIR, is facing bankruptcy due to export restrictions imposed by the country's military government, according to a Reuters report. The development follows the seizure of control of the mine in December 2024 by the government, which also revealed plans to nationalise the mine. The mining sector in West Africa is undergoing significant changes as governments seek to assert greater control over their natural resources. Orano, which holds a majority stake in SOMAIR, has been in a year-long dispute with Niger, leading to the suspension of uranium production. The company has communicated SOMAIR's deteriorating financial situation to the authorities since October 2024. Niger accounted for 15% of Orano's uranium supply when the local unit was fully operational. The company states that the insistence of the Nigerien authorities on maintaining production costs has brought SOMAIR to the brink of financial collapse. Despite current challenges, the main mineworker's union in Niger has stated that production at the mine will continue. The union has accused Orano of sabotage - a charge it denies. Orano has pointed out that its state-owned partner, SOPAMIN, has avoided sharing production costs during periods of low uranium prices. This forced Orano to bear an unfair share of the financial burden by having to purchase additional uranium above its shareholding to maintain the financial stability of the mine. Amidst rising uranium spot prices, which have seen a 7% increase in the first sixth months of 2025 and reached a seven-month high of $79 per pound in late June, Orano emphasised its right to legal action without further specifying its next steps. It has expressed a desire for the remaining financial resources of the venture to be allocated towards paying employee salaries and maintaining industrial facilities. The situation in Niger reflects a broader trend in the region, with Mali placing Barrick's Loulo-Gounkoto gold complex under state control, and Burkina Faso and Guinea seeking more significant mining shares from Western companies while showing interest in Russian partnerships. "Orano's uranium joint venture in Niger on brink of bankruptcy" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data