Mining Weekly
Strengthening fundamentals continue to bolster ‘new age’ metals outlook
Sat, 22 Apr 2017 00:09:00 +0200
‘Big money’ investors are increasingly looking to invest in the relatively small ‘new-age metals’ space, comprising metals such as lithium, graphite and cobalt, as strengthening fundamentals for these minerals and an unprecedented high-impact investment opportunity draw the potential for bonanza profits. As Lithium Americas CTO Dr David Deak puts it: “We are here for the imminent energy revolution mirroring the industrial revolution of about two centuries ago.”
Conflict-free cobalt to remain industry question, opportunity as DRC dominates supply
Sat, 22 Apr 2017 00:53:00 +0200
Sourcing conflict-free cobalt for application in new technologies, such as lithium-ion batteries, will remain both a concern and an opportunity for manufacturers for years to come, as production is dominated by the politically unstable Democratic Republic of Congo (DRC). The Central African country, which has a long and well documented history of political conflict, produces about 64% of the world’s cobalt, while China accounts for about 57% of global refined supply.
Argentina mulls $500m safety plan for Barrick's Veladero mine
Sat, 22 Apr 2017 00:57:00 +0200
Barrick Gold and its new Chinese partner presented a $500-million plan on Friday to make safety and environmental improvements to the Veladero gold mine, in Argentina, after a third cyanide spill in 18 months, a company executive said. Argentina told Barrick earlier this month it had to overhaul environmental and operating processes at the mine following the latest spill on March 28.
BMI expects gradual price recovery for industrial metals
Fri, 21 Apr 2017 11:44:00 +0200
Since bottoming out in early 2016 and staging an impressive, albeit largely speculative, rally over the past year and a half, industrial metals will experience a gradual price recovery over the coming years, as improving fundamentals support a stabilisation, rather than rebound, in prices, research firm BMI said on Friday. The traditional bellwether metal, copper, was expected to most closely follow this narrative, with BMI forecasting a 12.9% year-on-year price increase for this year.
Rockwell seeks move to TSX-V listing
Fri, 21 Apr 2017 16:47:00 +0200
Embattled Rockwell Diamonds, which earlier this week filed for business rescue, on Friday said it would seek to move its listing from the TSX to the TSX-V, owing to its current market capitalisation. The company said its shares on the TSX and JSE would remain halted while there remains uncertainty over the outcome of the hearing on the merits of the liquidation application against its three subsidiaries, Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine.
Freeport collects export permit after Pence visit
Sun, 23 Apr 2017 12:12:00 +0200
Freeport McMoRan collected a permit to resume copper exports from Indonesia on Friday after a hiatus of more than three months, hours after a state visit by US Vice President Mike Pence, who discussed the copper miner's dispute with Jakarta. Indonesia's Trade Ministry issued Freeport with a permit to export 1.1-million tonnes of copper concentrate up to February next year, although it was unclear how long shipments would last.
Trump's infrastructure plan a boon for iron-ore, says Australia's Cormann
Sun, 23 Apr 2017 12:20:00 +0200
US President Donald Trump’s plan to upgrade the nation’s roads, ports and bridges will drive demand for steel and support iron ore prices, Australia’s Finance Minister Mathias Cormann said. “The US and the Trump administration has put out a very ambitious infrastructure investment program" and the steel will have to come from somewhere, Cormann said in an interview in Washington. "So global demand for steel, we believe, will continue to require significant exports of Australian iron-ore.”
South Africa's Sibanye declares war on illegal gold miners
Fri, 21 Apr 2017 16:32:00 +0200
Illegal gold mining has plagued South Africa's mining companies for decades, robbing the industry and state coffers of billions of rand through smalltime pilfering as well as networks run by organised crime. Now, with unmined output dwindling and proving more diff cult to extract, one firm has had enough: diversified precious metals producer Sibanye Gold says that it will clear all illegal miners from its shafts by the end of January next year.