- Nickel-copper-platinum deposits found in Chhattisgarh
- Surface-level gold-copper deposit discovered in Canada
Base metals prices on the London Metal Exchange (LME) remained range-bound d-o-d, with zinc decreasing by 1.21% to $2,727/tonne (t). Meanwhile, inventories at LME-registered warehouses also registered mixed movements d-o-d, with zinc recording the highest decline of 3.79%.
India market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 794,000/t ex-Delhi, up by INR 4,000/t d-o-d. Aluminium Tense scrap prices remained flat d-o-d, with ex-Delhi at INR 197,000/t and ex-Chennai at INR 200,000/t.
Market updates
India’s first potential Ni-Cu-PGE find boosts critical minerals self-reliance
Deccan Gold has announced a potential discovery of nickel-copper-platinum group elements (Ni-Cu-PGE) mineralisation at its Bhalukona Project in Chhattisgarh — marking India’s first such find. Initial exploration has outlined a 700-m mineralised zone, with geological features resembling world-class deposits in Australia and Finland. The company said this discovery strengthens India’s position on the global critical minerals map and supports the government’s vision for Atmanirbhar Bharat in securing strategic mineral supply chains. Drilling is set to begin post-harvest, following encouraging geophysical survey results.
Oil dips as OPEC+ agrees to fresh output hike for Sep’25
Oil prices fell after OPEC+ announced a 547,000 barrels per day (bpd) production increase for September, continuing its strategy to reclaim market share amid geopolitical pressures. The decision follows earlier output hikes and comes as OPEC+ eyes low inventories and firm demand. The group plans to reassess further cuts at its next meeting on 7 September, while markets await US moves on Russian oil sanctions.
Canada strikes gold: game-changing discovery near surface
Canada uncovered a massive gold and copper deposit just 59 feet below the surface in drill hole JP24057. Spanning till a depth of 131 feet, the site averages 1.24 g/t gold and 0.38% copper. This shallow find promises low-cost, high-yield production, potentially transforming regional mining and boosting Canada’s mineral wealth significantly.
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