Overall, the market enters the holiday period with few positives.

India is preparing a major push to strengthen its rare earth magnet manufacturing capabilities

South Africa’s Department of Mineral and Petroleum Resources (DMPR) has granted and executed a mining right in favour of Lesego Platinum Uitloop

The buyer will also pay Pacific Nickel a 1% royalty on nickel ore shipped from Kolosori, provided that monthly shipments exceed 170 000 t and benchmark prices on the Shanghai Metals Market average above $72/t.

Iron-ore miner BHP Group and steelmaker Posco have signed a memorandum of understanding to advance hydrogen-based ironmaking technology as part of efforts to decarbonise the steel sector, the companies said last week.

The Simandou project in Guinea threatens to further change the dynamics of the iron ore market, which is already facing an uncertain future in terms of demand, writes Bloomberg.

The Simandou deposit has an iron content that averages above 65%, making it one of the highest and most prized grades in the world.

Sao Paulo-traded shares of Vale rose about 2% on Friday.