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Insights

Understanding themarkets.

Short explainers on how the materials we cover are produced, specified and valued. General information, not advice.

01

Base metals and concentrates

Copper concentrate: what it is andhow it is valued.

Why most copper leaves the mine as a concentrate, and what a smelter looks at before it buys.

02

Precious metals and PGMs

Gold doré and bullion: from themine to the vault.

What doré is, how it becomes a bar of recognised fineness, and why provenance documents decide everything.

03

Battery and energy metals

Battery metals: from rawmaterial to cathode.

The steps between a lithium, nickel or cobalt mine and a battery cell, and what each step demands.

04

Minor and critical metals

Rare earths: why a smallmarket matters.

Seventeen elements, one key use in permanent magnets, and a processing chain with few plants.

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General information about the market, not investment advice.