The mining industry briefing
The latest news, trends, and data from the mining industry
News in Numbers
$6bn
Debswana Diamond is reportedly set to construct the world’s largest underground diamond mine at Jwaneng, Botswana, with a $6bn investment.
$19m
The US Department of Energy has awarded $19m to fund the development of 13 projects to produce rare earth elements and critical minerals essential in the manufacture of batteries and magnets.
2049
Poland's Government and unions have signed an agreement with the country’s coal mining industry to fully phase out coal production by 2049, a year ahead of the 2050 net-zero deadline set by the Paris Agreement.
$15,000
According to Glencore's CEO, copper will need to rise from its current near-record high, to a value of $15,000 per tonne, to encourage enough new mined supply to meet rampant demand.
2040
According to a report from the International Agency, meeting the goals of the Paris Agreement will mean quadrupling mineral demand by 2040.
Project updates
Australia’s New South Wales Independent Planning Commission has conditionally granted approval to Mangoola Coal Operations to extend a coal mine in the Upper Hunter Valley.
Swedish mining firm Boliden plans to invest $149m (Skr1.25bn) to expand the Kristineberg mine towards the Rävliden mineralisation zone.
The proposed expansion is expected to help increase milled volumes in the Boliden area to 1.8 million tonnes (Mt) when operational in 2023.
Poland has extended the licence for the Turow open-pit coal mine, located outside Bogatynia, until 2044, despite international outcry.
Owned and operated by state-owned utility Polska Grupa Energetyczna, the mine has been in production for more than 115 years since 1904.
Gold Mountain Mining is set to commence construction on the Elk Gold Project located near Merritt, British Columbia in Canada.
FURTHER READING
Rio Tinto shareholders rebel against ex-chief executive’s £7.2m bonus
Rio Tinto’s shareholders have rebelled against the board’s decision to hand its outgoing chief executive his biggest ever pay packet despite overseeing the destruction of the sacred 46,000-year-old rock shelters at Juukan Gorge in Western Australia.
Shareholders voted 61% against the miner’s remuneration policy, which handed a £7.2m pay packet to the disgraced former chief executive Jean-Sébastien Jacques for last year, a 20% rise on his total pay the year before.
Source: The Guardian
