Grangex AB has signed a strategic commercial agreement with Anglo American to support the restart of the Sydvaranger magnetite iron ore mine at Kirkenes in northern Norway. The plan is to produce about 3.5 Mt/y of 70% Fe direct reduction, ultra-high-grade magnetite concentrate, targeting DR pellet and green steel value chains. For process engineers and mine planners, the high-grade DR specification points to tight control of impurity levels and beneficiation performance, with logistics routed through the existing ice-free Barents Sea port infrastructure.

Nova Andino Litio SpA, the new joint venture between Codelco and SQM to develop lithium production in Chile’s Atacama Salt Flat, has held its first board meeting, signalling a shift from negotiation to implementation. The board comprises Codelco representatives Máximo Pacheco M, Josefina Montenegro A and Alfredo Moreno Ch, alongside SQM’s Ricardo Ramos. For project engineers, this formal governance structure clears the way for detailed planning of brine extraction, evaporation pond layouts and processing capacity expansions in one of the world’s highest-grade lithium salars.

Silver plunged nearly 10% from a record $83.63/oz to the low $70s on Monday, its steepest intraday fall since 2021, after a month-long 40% surge driven by Chinese investment demand and Shanghai spot premiums exceeding $8/oz over London. Despite the pullback, silver is still up 148% in 2025 and briefly reached a market capitalisation above Nvidia’s $4.55 trillion, with its 14-day RSI easing to about 67 after three weeks above the overbought 70 threshold. Gold also retreated more than 4.5% from a record $4,543.51/oz, though it remains up nearly 75% year to date.