Alcoa Reports Q1 Results; Newmont's 2023 Sustainability Report; Foremost Lithium To Attend Planet MicroCap Showcase And More: Thursday's Top Mining Stories

Zinger Key Points
  • Alcoa reported Q1 loss of 81 cents per share on $2.6 billion revenues, with aluminum and alumina production flat and down 4%, respectively.
  • Newmont completed over 650,000 safety verifications, increased female leadership to 33% and reduced freshwater use by 31%.

Top Stories for April 18, 2024:

  1. Alcoa Corp AA reported first-quarter losses of 81 cents per share with revenues of $2.6 billion, slightly above the expected $2.56 billion. 

In the alumina segment, revenues rose by 6% due to higher prices and increased shipments, while the aluminum segment saw a 3% revenue drop from lower prices and shipment timing. 

Alumina production fell by 4% to 2.67 million metric tons and aluminum production remained stable at 542,000 metric tons. 

Alcoa also finalized acquiring Alumina Limited and projects full-year alumina production of 9.8 million to 10 million metric tons and shipments of 12.7 million to 12.9 million metric tons.

  1. Newmont Corporation NEM released its 2023 Sustainability and Taxes & Royalties Reports, marking 20 years of its sustainability efforts. 

Key achievements include expanding its Fatality Risk Management program, completing over 650,000 safety verifications, aligning facilities with the Tailings Management Standard and enhancing workplace inclusivity. 

The company increased female leadership to 33%, reduced freshwater use by 31% since 2018 and met a $20 million commitment to support communities affected by COVID-19. 

Newmont has been ranked as the top gold mining company on the Dow Jones Sustainability Index for nine years and is also highly ranked on 3BL’s Corporate Citizens list.

Also Read: New Canadian Budget Deemed Mixed Bag For Mining Sector

  1. Foremost Lithium Resource & Technology Ltd FMST announced its participation in the 2024 Planet MicroCap Showcase on May 1 to 2 at the Paris Hotel & Casino in Las Vegas. 

President and CEO Jason Barnard will present on May 1 and hold investor meetings on May 2.

  1. Nucor Corp NUE appointed Nicole B. Theophilus as executive vice president of Talent and Human Resources, starting April 29, 2024, to lead the company's talent development and HR strategy.
  1. Scotiabank Maintained its Sector Underperform rating on Southern Copper SCCO but raised its price target to $55.

Now Read: Rio Tinto’s Next Chief Commercial Officer Says Building Mines Is Better Than Buying: Here’s How Long It Takes

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