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China is building a battery supply chain for Europe in Morocco, as the continent struggles to develop its own industry to feed electric-car manufacturing, PowerCo’s operations head said. “We don’t have any supply chain. This has to be set up,” Sebastian Wolf, chief operating officer for Volkswagen’s battery unit, said Tuesday at an event in Stuttgart. “Right now, we have to be honest that the set-up of LFP supply chain is happening in Morocco and not in Europe.”

This week: Copper 360 on home straight to produce quite a bit of cash, CEO reports; Reserve Bank concern about decline of public markets welcome development; and, Artificial intelligence used to eliminate need for rare earths in permanent magnets

Carson Block, who made his name betting against companies, is gathering money for a fund that will bet on rising metals and mining stocks.

The Muddy Waters Resources Fund filed a private placement notice Tuesday with the US Securities and Exchange Commission, indicating the vehicle initially brought in about $1.5-million this month.

London-listed Gemfields Group recorded total auction revenues of $68.7-million from the June auction of mixed-quality rough rubies recovered from the Montepuez ruby mine, in Mozambique. The group reports that 94 of the 97 lots, comprising 217 044 ct, offered for sale in the June auction were sold (97%).

Anglo American’s copper output at its Los Bronces mine in Chile is expected to fall nearly a third from average historical levels next year as the miner pauses a processing plant for maintenance, the company’s Chile head said on Tuesday.

Anglo American previously said it would suspend the plant, which is the smaller and older of two at the site, in mid-2024, but had not disclosed the estimated hit on production.

ASX-listed Sierra Rutile has suspended operations at a part of Area 1, Sierra Leone, to conduct a review into the death of a worker on site on Monday.

Expressing the company’s condolences, MD and CEO Theuns de Bruyn said that it was a sad day for Sierra Rutile and its people.

JCHX Mining is close to concluding a deal to buy Zambia’s Lubambe Copper Mine, two sources told Reuters, in the latest in a string of copper deals by Chinese companies intent on growing their control of the African copper mining industry. The Shanghai-listed mining services and contracting firm’s deal to buy an 80% stake in Lubambe mine held by EMR Capital is now nearing completion, the sources said.

S&P Global Ratings does not expect any significant policy shift as a result of South Africa’s government of national unity (GNU) formed following the May 29 elections when the African National Council (ANC) failed to secure an overall majority for the first time since 1994. The ANC’s GNU proposal was opened to all parties and a Statement of Intent outlining principles and basic minimum programme of priorities has been signed by the Democratic Alliance, the Inkatha Freedom Party, and the Patriotic Alliance, with others parties also expected to join.

Botswana’s Debswana Diamond Company on Tuesday reported a fatality at its Jwaneng mine following an accident involving a crane and drill rig.

The incident, which took place on Monday, involved an employee of one of Debswana’s contracting companies, it said in a statement. Investigations into the incident are ongoing, Debswana added.

ASX-listed Sierra Rutile has suspended operations at a part of Area 1, Sierra Leone, to conduct a review into the death of a worker on site on Monday.

Expressing the company’s condolences, MD and CEO Theuns de Bruyn said that it was a sad day for Sierra Rutile and its people.