Nigeria has inked a $1.2 billion deal with a Chinese firm to revitalize a gas processing facility, a move that officials say could propel the African country to a leading position in aluminium production. The deal between the Chinese state-owned CNCEC and the BFI Group, a major investor in the Aluminum Smelter Company of Nigeria, is expected to revive the 135 million standard cubic feet gas processing facility plant at the smelter. Nigeria's minister of state for gas announced it Tuesday via a post on the social platform X. Minister of State for Gas Ekperikpe Ekpo expressed optimism about the “significant investment,” stating that it would position the smelter “back on the path to becoming a leading aluminium producer for both domestic and international markets.” Nigeria and China’s economic relationship deepened in 2016, when the...

According to Prensa Latina on November 10, Bolivian President Luis Arce confirmed on November 10 at a ceremony marking the 214th anniversary of the liberation of Potosi that Bolivia will sign a second contract for the industrialization of lithium with China. He said at the event on November 10: "We plan to sign a second contract with a Chinese company next week, so this will be the second contract we submit to the Plurinational Legislative Assembly." The first contract submitted to the Plurinational Legislative Assembly was signed in September this year by Bolivian National Lithium Corporation and Rosatom Group, a Russian company, which will use direct extraction technology to produce 14,000 tons of lithium carbonate per year in Uyuni Salt Flat in Potosi. The report said that in 2022, the government began signing agreements with foreign companies throu...

The London Metal Exchange (LME) has released data showing that the inventory of LME copper increased to a near five-year high on August 29, and then entered a downward trend. Last week, inventory changed little, with the latest inventory level at 272,400 tons, which is at a three-month relative low. The latest data released by the Shanghai Futures Exchange shows that the inventory of Shanghai copper continued to decline in the week ending November 8, with weekly inventory down 8.85% to 139,662 tons, reaching a new low of eight and a half months. International copper inventory increased by 22.32% to 17,799 tons. Last week, the inventory of New York copper changed little, with the latest inventory level at 88,802 tons, which is at a relative high of over four years....