News in Numbers

The Indonesian Government has said it will halt approval of mining licenses as a result of a rise in illegal mining, which it says costs the country Rp5.77trn per year.

Rio Tinto has cut its iron ore production estimates to 9.3–9.8 million tons (mt), down from 10–11mt projected previously. The company blamed downtime, equipment failures, and wildfires.

Uranium prices recently reached $60/lb, as part of a 20% rise in 2023. This comes as a result of increased nuclear generation this year.

The price of gold in China has risen to more than $100, up from averages of around $6 over the last decade.

Russia has begun production at the Udokan project, the country’s largest untapped copper deposit. The site will produce 150,000 tonnes of refined copper per year.