MMG Limited, a subsidiary controlled by state-owned China Minmetals Corp., has completed the $1.875 billion acquisition of the Khoemacau copper mine in Botswana. Situated in the Kalahari Copper Belt, the asset features copper reserves exceeding 6 million metric tons and mining rights spanning over 4,000 square kilometers. The project marks the largest overseas copper mine acquisition by a Chinese company since 2018 and stands as the single largest investment by a Chinese enterprise in Botswana to date. First commissioned in June 2021, Khoemacau currently targets an annual production baseline of 60,000 tons of copper and 1.6 million ounces of silver in concentrate, with near-term expansion plans positioned to scale output toward 130,000–155,000 tons of copper annually. China currently maintains a domestic copper resource dependency rate exceeding 70%, importing over 60% of its copper ore from Chile and Peru. This strategic transaction diversifies Chinese supply channels beyond South America, bolstering raw material security amidst accelerating demand driven by global decarbonization, electric vehicles, power grid infrastructure, and emerging clean technologies.

SMM Steel, July 28 – According to SMM statistics, total estimated shipments of mainstream market resources this week were 241,900 mt, down 1.75% WoW from last week's shipment level. By market: Table 1: Comparison of Mainstream Market Arrivals Source: SMM Steel Shanghai Market: HRC shipments in Shanghai increased WoW this week. Specifically, as the price spread between north and east China widened earlier, local procurement of northern resources increased, leading to concentrated recent arrivals at ports; shipments from south China steel mills were stable WoW. Going forward, the current price difference between north and south China remains high, so northern resources still offer procurement cost-effectiveness, while southern resources are relatively stable. In the short term, the arrival level of mainstream resources in Shanghai will have limited room for change. Chart 1: Shanghai Market Arrival Volume Source: SMM Steel Lecong Market: Shipments to Lecong decreased this week. Specifically, resources from north China were basically stable, with one of the two mainstream resources up and the other down; WG could not sustain the high shipments of last week, resulting in reduced arrivals this week. Going forward, mainstream resources have been shipped more to south China recently. As the price difference between south and east China is not significant currently, steel mills may shift shipments more towards the east China market. In the short term, arrivals in south China will remain in a consolidation range. Chart 2: Lecong Market Arrival Volume Source: SMM Steel SMM releases HRC shipment data for mainstream markets every Tuesday. To subscribe or follow more data, please scan the QR code below.

SMM learned that during a computing power resource exchange on July 28, a supplier quoted 128 high-end computing units, not to be split, with a delivery period of 2-3 weeks at 13.2 million yuan per unit, and payment terms of 25% down payment with a letter of guarantee. A relevant personnel from an operator questioned the high quote, stating that a nearby investor had recently acquired 16 units of the same model as 4-week futures at just over 10 million yuan per unit. The supplier responded that nowadays, if a buyer hesitates even slightly, the supply is immediately snatched away, and the same batch of goods is being sought after and contacted by multiple parties. The difference of over 3 million yuan per unit between the quoted price and the market feedback on the transaction price for the same batch reflects the low transparency of quotes in the high-end computing power futures market.

SMM, July 28 – To deepen understanding of the high-end automation equipment manufacturing and technology trends in the motor industry chain, strengthen the foundation for industry surveys, and promote resource integration and collaborative innovation across the industry chain, on the afternoon of July 28, Fan Cui, head of the SMM Motor Business Unit, and her delegation visited Ningbo Niulan Automation Equipment Co., Ltd., where they held discussions with General Manager Li Chongcai and toured the production workshops to observe the operating conditions of full-line automation equipment. The visit was themed “ Focusing on Smart Equipment, Boosting Industry Collaboration .” During the discussion session, General Manager Li Chongcai elaborated on the company’s development layout, R&D system, and core product advantages. Deeply engaged in the field of motor-specific automation and smart equipment for years, the company’s product portfolio covers three major segments: standard standalone machines, non-standard full-line automated production lines, and complete smart detection equipment. This enables intelligent production covering the entire motor manufacturing process, from winding, paper insertion, magnet mounting, pressing, and bobbin assembly to finished-product performance testing and burn-in testing. After the discussion, accompanied by General Manager Li Chongcai, the SMM survey team visited the production, assembly, and equipment testing workshops, where they closely observed the assembly techniques, debugging processes, and finished-product testing conditions of various motor automation equipment. They gained detailed insights into the operating principles, process advantages, and mass-production stability of multi-station winding equipment, intelligent servo pressing equipment, and fully automatic motor lines, acquiring first-hand knowledge of the latest technology iterations and application capabilities in current motor automation equipment. Combining discussions and on-site workshop observations, this visit comprehensively enhanced SMM’s frontline understanding of the upstream motor automation and smart equipment sector, further enriching industry survey data and research bases, and laying a solid foundation for subsequent market analysis, trend forecasting, and precise upstream-downstream resource matching. About Ningbo Niulan Automation Equipment Co., Ltd. Founded in 2020, Ningbo Niulan Automation Equipment Co., Ltd. is located in Ningbo, Zhejiang Province. With technical expertise and specialization in motor manufacturing processes, the company continuously promotes advanced motor manufacturing processes and leads automation technology innovations. Its equipment is distributed across China and exported to countries including Russia, India, Iran, South Korea, and Turkey. The company’s existing plant area is 4,800 square meters. It is a manufacturing enterprise integrating R&D, production, sales, and services, with motor production automation equipment as its core business. The current team comprises 45 employees, including elite R&D engineers accounting for 40% (18 people), 5 software programming engineers, and 15 experienced debugging technical personnel. Excluding affiliated enterprises: Niute Precision Machinery currently has 12 employees, primarily providing processing and manufacturing of equipment parts for Niulan, equipped with CNC, slow wire, precision grinding machines, and other standard processing equipment, fully ensuring the efficient supply of equipment parts for Niulan. Choose Niulan equipment, create premium motors—efficient, reliable, reassuring. Company Contact: General Manager Li Chongcai Tel: 15356881507 SMM Contact: Director of Motor Division Fan Cui Tel: 13816522387 Email:

Australian miner AKORA Resources recently announced it has completed a total equity financing of approximately A$3.3 million to support the advancement of the Bekisopa high-grade iron ore project in Madagascar . The first phase of Bekisopa plans to build a production facility with an annual capacity of 2 million mt of direct shipping ore (DSO) at an average iron grade of 61.6%. The company said the funds raised will support project approvals, development preparations, and financing discussions. AKORA stated that, with the assistance of financial advisor Grant Samuel, it is engaging with potential strategic partners, offtake financiers, and engineering and infrastructure enterprises, including multiple potential partners from China, India, and Eastern Europe, and related work is expected to continue in Q3 2026. The company's management also traveled to Madagascar in May to communicate with the country's mining authorities, local governments in the project area, and local communities regarding project development. The Bekisopa project is wholly owned by AKORA and has obtained a mining license. The project's inferred resources are 194.7 million mt , at a grade of 32.0% iron ore, with a mine life of 6 years. The project's probable ore reserves are 9.068 million mt at a grade of 53.0% iron ore, with an average strip ratio of 0.52. In the initial stage of the project's first phase, the ore is planned to be transported by road to Toliara port for export. Phase two proposes to develop and build grinding and magnetic separation facilities to produce low-impurity iron ore concentrates with a grade above 67%.

Brazilian Rare Earths (BRE) has moved a step closer to developing its Amargosa Bauxite-Gallium Project in Brazil after its newly created subsidiary, Alurion Resources Limited, raised approximately A$50 million (USD 24.5 million) through an initial public offering (IPO) in Australia. The company issued 47,619,048 fully paid ordinary shares at an offer price of A$1.05 (USD 0.74) per share, with the proceeds earmarked to accelerate development of the USD 119 million project. The funding will support land acquisitions, technical studies, environmental licensing, exploration activities, community programmes, safety initiatives and equipment purchases as Alurion advances the project.