The mining industry briefing
The latest news, trends, and data from the mining industry
News in Numbers
$3.1bn
Grupo México is reportedly planning to make a $3.1bn investment for metals refining activities in Sonora.
$1.4bn
Chilean copper miner Codelco is reportedly planning to commence construction on the $1.38bn Rajo Inca project in the coming few weeks.
27
Ethiopia has revoked the licences of 27 idle mines held by three companies, as the country looks to encourage production. Citing the Ethiopian mines ministry, Reuters said that the three companies operating the idle mines have been issued warnings.
70
The last Argyle Pink Diamonds Tender, an annual invitation-only event for the past 38 years, will showcase the last collection of gems dug out at the now-closed mine. It comprises 70 diamonds weighing 81.63 carats.
2050
Gold miner Newcrest Mining has set a goal of net-zero carbon emissions by 2050 for its Scope 1 and Scope 2 emissions.
Project updates
Iluka Resources has received backing from the Australian Government for its proposed rare earths refinery at Eneabba, Western Australia.
In a letter to Iluka, two federal ministers said that that the proposed Eneabba rare earths refinery complies with the country’s critical minerals policy and could help in the development of new mines.
The US Bureau of Land Management has agreed to reconsider its decision to renew 13 mining permits in Minnesota.
Marvel Gold plans to spin out its Chilalo Graphite Project in Tanzania into a new subsidiary, Evolution Energy Minerals.
The move is a part of the firm’s efforts to unlock the value of its fully permitted advanced Chilalo Graphite Project and reduce debt.
Canadian mineral exploration firm C2C Gold has secured surface exploration approvals for the Badger, Millertown, and Barrens Lake properties in Newfoundland and Labrador, Canada.
FURTHER READING
Mining explainer: the Whitehaven deep coal project controversy
Iron ore is not on the cusp of a new supercycle, according to the head of one the world’s biggest mining companies, who expects demand for the steelmaking ingredient to flatten out after a couple of years.
Eduardo Bartolomeo, chief executive of Brazil’s Vale, said that the record surge in iron ore prices over the past year was very different to the boom of the early 2000s, which was driven by China’s rapid industrialisation.
Source: Financial Times
