The mining industry briefing
The latest news, trends, and data from the mining industry
News in Numbers
31%
Gold sales to Zimbabwe's sole buyer and exporter of bullion fell 31% last year after lower deliveries from small-scale miners.
450,000
South Africa's mining industry has expressed confidence in dealing with Covid-19 risks as it brings 450,000 miners back to work.
12%
Benchmark Mineral Intelligence has reported prices for lithium carbonate rising by almost 12%, marking the possible break of a downward streak lasting nearly three years.
2
Amid gains in the dollar, Treasury yields, and equities, gold has continued to fall, extending its biggest drop in two months as investors turn away from the traditional haven.
98%
A report from Roskill estimates that, due to a full in sustaining production costs, 98% of global cobalt production capacity will be cash positive in 2021.
Project updates
The Zambian Government has reportedly concluded its talks with Glencore to buy a major a stake in the Mopani copper mines, though details have yet to be announced.
The Local Authority Pension Fund Forum, a shareholder in both Rio Tinto and BHP, has urged the companies to clarify environmental concerns around an Arizona copper project opposed by Native American tribes.
Montero Mining and Exploration has raised $2.32m in order to meet fees and expenses as part of its lawsuit against the Tanzanian Government. Montero alleges illegal expropriate of the Wigu Hill project on the part of the government.
Peru’s Ministry of Energy and Mines is working on a report that aims to overturn decrees granting Nuevo Arcoiris S.A.C, a subsidiary of Canada’s Tesoro Minerals Corp, certain mineral exploration rights.
FURTHER READING
Tensions simmer between China, Australia over coking coal import ban
Nobody yet is quite sure whether Australia and China’s spat over coking coal imports will eventually turn out to be a case of bad politics making good economics or bad economic sense making for good politics.
While politics between China and Australia is part of the reason for the former to have completely banned the import of coal from the latter, it has led to churn in the rest of the global coal markets.
Source: MetalMiner
