Top Stories for Jan. 17, 2024:
1. BMO Capital analyst Jackie Przybylowski maintained an Outperform rating on Newmont Corporation (NEM) but lowered her price target from $62 to $59.
2. Compass Minerals (CMP) appointed Edward Dowling to succeed Kevin Crutchfield as president and CEO, effective Jan. 18.
Edward Dowling, a former petty officer in the U.S. Navy with a Bachelor of Science in mining engineering and mineral processing, a Master of Science in mineral processing, and a Doctorate in mineral processing, expressed his excitement and honor at the opportunity to lead Compass Minerals. He looks forward to working with the board and leadership team to enhance the profitability of the essential minerals portfolio through safe, efficient, and fiscally disciplined operations.
3. Universal Stainless & Alloy Products, Inc. (USAP) announced that it will provide a business update in a conference call scheduled for Jan. 24 at 10 a.m. EST.
President and CEO Christopher M. Zimmer stated that the company is eager to provide a review and update on their markets and share certain financial metrics ahead of their earnings report in March.
4. A new report from the Rosario Stock Exchange (RSE) predicts that lithium production in Argentina will surpass that of Chile and Australia by 2027.
According to the report, while lithium production in Chile and Australia is expected to grow by 8% and 16% annually, respectively, Argentina aims for an average annual increase of 50%. The report highlights Argentina’s wealth in lithium reserves and resources, as well as its commitment to sustainable production, positioning the country as a crucial player in the global market for batteries. Additionally, the mining sector in Argentina is contributing significantly to economic growth and employment.
These are the top stories for January 17, 2024. Stay tuned for more updates and developments in these industries.
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