The briefing on mining

The latest news, trends and data from the mining industry

NEWS IN NUMBERS

$1.5bn

Global mining firm Rio Tinto is set to continue Kennecott copper mine production in the US with an investment of $1.5bn over a period of six years.

30,000t

South Korean company SK Innovation has signed a six-year agreement with Glencore for up to 30,000t of cobalt contained in hydroxide.

40%

Vale's Brucutu plant will operate with 40% capacity following a temporary suspension of the disposal of tailings at the Laranjeiras dam originated at the Brucutu mine

$749m

Global mining group Rio Tinto is set to invest A$1bn ($749m) in the Western Turner Syncline Phase 2 (WTS2) mine, which is part of the company’s Greater Tom Price operations.

The latest from Twitter

Righto, time to tell Australians what’s really going on behind closed doors. What kind of a stranglehold does the mining industry have on the LNP. We know they do, we just want confirmation. #auspoI #ecocide https://t.co/ugwfsJgImq via @SBSNews
— Tony Lomas (@TonyLomas) December 6, 2019

The new joint venture between GM and LG Chem is a step further by automakers to secure battery cells while increasingly controlling battery technology and manufacturing techniques. #lithiumion #batteries #cobalt #graphite #lithium #manganese https://t.co/PszZbBqzJ2
— Roskill (@Roskill_Info) December 11, 2019

Commodities trader Trafigura reports a record year in oil and metals https://t.co/3lu8SKljd8
— Bloomberg (@business) December 11, 2019

Context: That’s more than the 53,000 workers in the U.S. coal mining industry, according to government data. https://t.co/jEGv7As17t
— Timothy Aeppel (@TimAeppel) December 3, 2019

Further reading: South Africa’s miners shut down by power cut

South African miners were forced to halt operations after state power monopoly Eskom implemented, for the first time, a "stage 6" blackout, removing 6,000MW from the grid. Less severe blackouts have continued since and present a continuing risk to the mining economy of South Africa.

Source: Financial Times

PROJECT NEWS

Aspire Mining signs MoU on Ovoot coking coal project in Mongolia

Metallurgical coal project developer Aspire Mining has signed a memorandum of understanding (MoU) with Sinosteel Equipment & Engineering (Sinosteel MECC) to develop Mongolia’s Ovoot coking coal project. The non-binding agreement covers potential engineering, procurement, construction (EPC) as well as trade-based funding opportunities for the Ovoot Early Development Project (OEDP).

Heron starts underground ore processing at Woodlawn mine in Australia

Heron Resources has started crushing and processing high-grade underground ore from the G2 lens at the Woodlawn mine in Australia.

Woodlawn is a zinc-copper mine located 250km south-west of Sydney, New South Wales, and is owned by Heron Resources. The company said that ore from the G2 lens was mined to 135m below surface.

Gold Road and Gold Fields open Gruyere mine in Western Australia

Gold Road Resources and Gold Fields have officially opened the A$621m ($421.8m) Gruyere mine, located 200km north-east of Laverton in Western Australia. The project is a 50:50 joint venture between Gold Fields and Gold Road, which was announced in November 2016 for the development and operation of the Gruyere gold project. It has an estimated resource of 155.37Mt, grading 1.32g/t and is expected to produce 300,000oz of gold a year.

Centerra Gold suspends Kumtor open-pit mine operations

Canadian mining and exploration firm Centerra Gold has suspended open-pit mining operations at the Kumtor mine in Kyrgyzstan after it experienced a significant rock movement. The shut-down of operations comes after two employees working at the mine were reported missing following rock movement at the Lysii Waste Rock Dump.

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02/17/2024 15:32:36