Santiago, Chile — Lundin Mining is assessing the feasibility of a restart of operations at its Candelaria copper mine in northern Chile after workers voted to end a month-long strike at the operation, the company said. Some 62% of participants said iron ore prices would remain above $120/mt CFR China in Q1, […]. But the consensus continues to be that iron ore prices will fall markedly in coming years. Opinion 15 December 2020 Faster decarbonisation and mining: a crisis of confidence or capital? Tyck till! Vice Chairman, Metals & Mining. Even with higher steel prices, the potential for margins to support iron ore prices and higher pellet premiums could be limited, […]. As it turned out, Rio Tinto and BHP were 5-10 years too late in their predictions. Fortescue’s new 30 million mt/year capacity Eliwana mine has just produced its first ore. Next year, Rio Tinto will start its new 43 million mt/year Koodaideri mine to keep up its flagship Pilbara Blend product, as supply at older mines is depleted. S&P Global Platts Asian Steel Markets Editor Ashima Tyagi discusses these issues and more with Head of APAC Metal Insights Paul Bartholomew. S&P Global Ratings includes ESG factors in its criteria for evaluating companies and they are likely to play a larger role over time. They also stand as examples of what is possible in sometimes extremely challenging circumstances, suggesting even greater possibilities if the current barriers to working in the industry continue to be steadily demolished. There is... @PlattsOil: Join S&P Global on September 17th to discuss the tumultuous oil events,... PlattsOil: Sign up now: Do you know how price assessements work at S&P... S&P Global Platts IODEX 62% Fe fines benchmark. NEW YORK, Dec. 4, 2020 /PRNewswire/ -- Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals and Mining … 16/12/2020 - 16:49. On the day this blog was written, the S&P Global Platts IODEX 62% Fe benchmark stood at $160.70/mt CFR China, 70% higher on the year before. Further, the iron ore hubs of Australia and Brazil happen to be located in regions that suffer cyclones and heavy rains every year. At this stage, Platts does not provide a formal iron ore price forecast. Why Metals and Mining Stocks Aren't Joining Today's Rally ... With the news on the presidential election more universally accepted, and the equity … Will the majors maintain overall production and export volumes as new operations are brought online? The market remains cautious about the sustainability of high prices amid the possibility of recurring COVID-19 waves and domestic iron ore shortages. Consolidation in the carrier... PlattsOil: Risk and governance: Essential insight, visionary solutions..... APPEC goes virtual. Nov 25, 2020 Omineca Closes $5.5 Million on Oversubscribed Brokered Private Placement Financing ... presentations and other information concerning Omineca Mining and Metals … Granted, there is always a […]. Metals & Mining The latest in metals & mining industry news from MarketWatch. Yes, there are mine replacement in Western Australia projects (more on this later), and Fortescue’s new Iron Bridge magnetite project. The company already has over 50% female representation on its board of directors. Wrathall said the company had identified a former china clay processing site connected to the coast by rail that Cornish Lithium should be able to get control of over in the next year for the production plant. “In response to prolonged and pronounced price rises in the past, they have tended to resort to the ample but lower-quality domestic iron ore, using their market power to force prices down.”. Over time, the region could pick up any fall in demand for iron ore from China, Japan and South Korea. Singapore — High iron ore market prices seen in recent months are expected to continue into the first quarter of 2021, supported by strong Chinese steel output, according to the latest S&P Global Platts Iron Ore & Steel Outlook. On Dec. 14, the forward midpoint backwardation had widened to 1.99%. Metals Headlines PRECIOUS-Gold climbs on U.S. stimulus hopes post Fed statement Gold rose on Wednesday on prospects for more stimulus measures after the … The SAM CSA, managed by S&P Global, is an annual evaluation of companies’ sustainability practices and focuses on criteria that are financially material, applying 61 industry-specific approaches and asking companies on average 100 detailed questions. Granted, there is always a crystal ball element to price forecasting. Opinion 14 October 2020 Metals and mining: an industry at a crossroads; Opinion 19 June 2020 Metals and mining: who gets hit hardest by an economic slump? While the raw figures show there is still a way to go to achieve gender parity in metals and mining companies, momentum appears to be building, and the growing importance of ESG to investors is also likely to help speed up progress. Even as S&P Global Platts IODEX 62% Fe fines benchmark fell Dec. 14 to $154.50/dmt, total pellet prices indicated well above earlier levels, potentially in the $170s/mt FOB range, may be displaced by more lump or lower grade alternatives as buyers question the longevity of higher steel and iron ore spot prices. Answering Mining's Big Questions. With India’s domestic steel prices touching decade high numbers, steelmakers have exited the export markets for good. Even the most sophisticated “all-singing, all dancing” supply-demand model cannot account for a myriad of imponderables. Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals and Mining … ... Metals & Mining analysts' ratings & estimates - senior. So much for low prices! The 2021 program is currently in production. But of course, my crystal ball is just as cloudy as everyone else’s…, London — UK explorer Cornish Lithium is to accelerate its Trelavour project near St. Austell, Cornwall, after metallurgical tests resulted in the production of nominal battery-grade lithium hydroxide. The World Economic Forum’s (WEF) Mining and Metals Blockchain Initiative has launched a proof of concept for its Carbon Tracing Platform, named the COT. Newmont chair of the board of directors, Noreen Doyle, noted the importance of providing well-fitting protective clothing so that women feel part of the team, while Moore praised initiatives in Papua New Guinea to regularly assess risks and hazards to women in mines, and conduct annual audits to make sure women are safe. Representation of women on the board of directors or supervisory board across the group went from 14% in 2016 to 17% in 2019 on average. Most of the mooted new projects will probably get no further than the drawing board. As such, housing sector growth is expected to be flatter in 2021. We are a comprehensive, electronic news gathering and translating service for breaking-news in the Mining, Metals, Oil, Gas and Energy sectors in Russia and the surrounding Republics. Collectively, their careers span almost every continent and a wide variety of roles and products. Most analysts see them dropping by roughly $5-$10/mt each year over the next four years, to an average of $95/mt in 2021, $85/mt in 2022, $$75/mt by 2023 and $70/mt in 2024. METALS AND MINING NEWS. Commerzbank pointed to noticeably higher open interest on both the SGX and the DCE in recent week, with the Chinese exchange raising margin requirements for all contracts with maturity dates up to May 2021 to 15%, from 11%. Britain's last tin mine could reopen as tech companies chase ethical metals. The interviews in this special report present 13 women who have demonstrated great leadership in metals and mining, with careers spanning many geographies, subsectors and roles. It is planning to immediately proceed towards bulk metallurgical testing and the construction of a pilot plant using the so-called L-Max and LOH-Max technologies. Vale, the biggest iron ore miner, this month cut production guidance for 2020, while industry sources see strong iron ore demand in China, and tight pellet availability keeping near-term prices up. Box 6219     102 34 Stockholm We are based in Ufa – Siberia – which is 2 timezones east of Moscow, giving us a huge advantage in terms of the timeliness of delivery of information. Kitco Commentaries | Opinions, Ideas and Markets Talk. For the first time since the Outlooks began in late 2019, a sizeable number (32%) of respondents said manufacturing would play a bigger role for demand in 2021. Jakob Stausholm will have to rebuild Rio’s reputation following an international outcry over its destruction of sacred Aboriginal rock shelters. Will India’s domestic market continue showing strength in the near term and break further records? Metals and Mining Review, the Best source for industrial news, top metal and mining business and technology updates, news on technology implementation in Industries and corporate news and also lists the latest product released in metal mining industry. The party was over! Metals turn into insulators using a new quantum switch. “I can understand why quotas and metrics are put in place, but more is needed to drive the right change in behavior for the long-term,” said World Coal Association CEO Michelle Manook, adding that more is needed in terms of alignment across corporate strategy, culture and leadership. Mining & Metals Investment News: Metals headlines & expert mining blogs from hundreds of sites; Unique to Metals News: CEO, Expert & Company articles. Metals and Mining News. More than a third of respondents believed their iron ore requirements would increase in Q1, while 42% thought they would stay the same as in the current October-December quarter. Dec 10, 2020 Omineca Announces the Commencement of Dewatering at Wingdam. BHP will launch its new South Flank operation in 2021 that will replace the 80 million mt/year Yandi mine. 16/12/2020 - 16:27. Cornish Lithium CEO Jeremy Wrathall told journalists on a phone call Lepidico had already invested A$27 million ($20 million) in the technology to be used over six or seven years. "Precious Metals and Mining Trust is an investment trust operating in Canada. In the meantime, established mills such as Vietnam’s Hoa Phat are adding blast furnaces. Allseas acquires Vitoria 10000 for an innovative marine project. Despite its increasing sophistication—automated logistics, use of big data, control centers 1,500 km away from the mine site, etc—mining is still essentially about digging holes and transporting material on trains and ships; there are many things that can go wrong along the supply chain. It is hard to see where the estimated hundreds of millions of tons of new supply over the next few years, built into some projections, are coming from. BHP in 2016 set a goal to achieve 50% female participation across its workforce by 2025. China’s central government has tried to contain house price rises by tightening credit conditions. The World Economic Forum’s Mining and Metals Blockchain Initiative has released a unique proof of... Metso Outotec delivers flotation technology to GTK’s pilot plant Metso Outotec will deliver new, smart flotation cells to GTK Mintec’s pilot plant in Outokumpu,... Chinese investors ready to invest US$ in gold mining in Tajikistan In the last four years, it has managed to raise the overall proportion from 17.6% to 24.5%. S&P Global Platts is very pleased to bring you the Aluminum Virtual Symposium 2021. “However, we believe that the price rise has long been exaggerated,” Briesemann said. Forecasts are not carved in stone, of course, and are subject to revisions as market conditions change and new information emerges. An issue mentioned by more than one of the interviewees was that of safety and practical measures that would help women to feel welcome and secure in the workplace. “When I visited China back in 2003. Metals & Mining ETF News Features and News But here’s why I think an overly bearish outlook on medium-term prices may be wrong: There is little in the way of meaningful net new supply guaranteed to hit seaborne markets in the next 2-3 years. The 2020 Global Metals Awards have gone digital - join us to celebrate with our finalists and find out who this year's category winners are, The 2020 Global Metals Awards have gone digital – join us to celebrate with our finalists and find out who this year’s category winners are, Commodity forecasting is a difficult business at the best of times. Australian and Brazilian expansions, accompanied by millions of new tons from Africa, will swamp the market; scrap will increasingly displace iron ore; and prices will return to their historically low levels.”. The consumption of aluminium in Russia may decline by at least 30% this year, compared... Africa-focused miner Centamin has announced plans to invest some US$595 million in its Sukari gold... Metso Outotec is reorganizing its Metals business as part of the earlier announced turnaround program.... Golden Birch Resources Inc. Hundreds of affiliate Metals Sites that focus on precious metals, base metals, rare earth metals, steels and more. “This potentially gives the UK security of supply.”. Russia reduced exports of non-ferrous metals in January-October. In 2019, China produced 996 million mt of crude steel and this year the 1 billion mt mark will be breached. Gold prices settle at a nearly 2-week high, mark 3rd gain in a row While Cornish Lithium advances development of Trelavour, Wrathall said it would continue in parallel with its project to extract lithium from its geothermal water project in Cornwall. However, scarcity of supply remains a concern as demand recovery across sectors resurfaces after a long period of subdued activity. Following on from the above point, there are a number of significant mine replacement projects due to start in the Pilbara region of Western Australia. It includes questions on workforce diversity and gender pay gap. GMA- Lifetime Achievement Award: Rannveig Rist. The company said the technologies provided “an innovative and environmentally responsible metallurgical processing solution”, with work so far indicating the potential to produce battery-grade lithium in Cornwall without the need for further refining, making it a complete on-site solution. Most of the leaders interviewed expressed optimism for the metals and mining industries, however, pointing to concrete changes that are taking place to encourage greater diversity in general. Investors back overhaul of Australian mining sector following caves inquiry Wed, Dec 9th 2020 JPMorgan says gold will suffer as institutional investors buy into bitcoin Cornish Lithium said Dec. 7 the tests were carried out using fellow lithium explorer Lepidico’s proprietary technology on samples obtained during a hard rock drilling program this year within an existing open china clay pit at Trelavour. In December, the Brazilian company downgraded its 2020 target from 310 million-330 million mt to 300 million-305 million mt. Mining for Gold and Other Metals in 2021 and Beyond December 7, 2020 At the end of any year and certainly this one, the lucrative gold mine investment goes on the gift list. Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in … From laws preventing women working in specific jobs, to stereotyping of gender roles and abilities, historically the metals and mining sectors were inhospitable environments for women to enter and progress careers. The IODEX 62% Fe physical price on Dec. 11 rose to $160.70/dmt, a new multi-year high, while the forward curve midpoint delivery window value on the day was $158.09/dmt, according to Platts calculations. 2020 News Releases. Above all, the experiences and viewpoints shared in the following interviews represent a range of exceptional achievements – both personal and collective – that should be celebrated. But in the case of key steelmaking raw material iron ore, analysts, consultants and industry experts, and often market players themselves, have consistently got the price outlook wrong—typically on the low side. METALS AND MINING TOP NEWS. The demand side of iron ore will remain extremely strong – and it won’t just be coming from China (see below). Steel mills could reduce iron ore pellet demand in the first quarter in response to higher prices and premiums, especially where they can use more lump, or opt to use more sinter, market sources said. Data from the SAM Corporate Sustainability Assessment (CSA) provides a snapshot of an industry that is gradually improving, but still has far to go to achieve gender parity at the levels of senior management and board. News and opinion on metals used in electric vehicle and energy storage batteries including cobalt, vanadium, lithium, graphite and nickel. Mining, metals and minerals in a circular economy By: Andrew Cheatle and Elizabeth Freele December 4, 2020 We are all familiar with the principles and practice of recycling and re-using, and for many it is a common practice of daily life. U.S. coal mining jobs sunk to record lows, and the mining sector in general has hemorrhaged jobs since the start of the coronavirus pandemic. Fortescue also has plans to lift capacity at Port Hedland by an additional 20 million mt/year, while BHP has similar plans to increase throughput at the port. john@conventus.se, International news within the industry of mining and metal, Dec, 18 2020, Norway ready to increase production of vanadium and phosphates in years to come, Russian coal producers ready to withdraw Australian rivals from China, Finland may become a new center of gold production in Europe, Global diamond producers hope for recovery of market in 2021, Metso Outotec to modernize Norilsk Nickel’s smelting line in Russia. Even the most sophisticated “all-singing, all dancing” supply-demand model cannot account for a myriad of imponderables. As the industry continues to adapt and respond to the COVID-19 pandemic, thought leadership, market transparency, and a forum to network all have become more critical than ever. These can include weather events and environmental factors, operational outages and disasters, government policy changes (especially in China)—and heavens above, a global pandemic. Even with higher steel prices, the potential for margins to support iron ore prices and higher pellet premiums could be limited, a steel group executive said Dec. 14. As steel output recovers from weaker rates in the second quarter, and China reduces steel and metallics imports and reassumes net export steel trade, spot steel prices may start to fall back, a steel mill source said. As part of the MMBI initiative, the companies will pool resources and cost, as well as improve industry-wide trust, which cannot be achieved by acting individually. The iron ore forward market has always been in backwardation, below spot physical prices. Mobile App Our Services News publishing, tag articles Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411 “We wonder how long Chinese iron ore consumers will simply sit back and accept the high prices,” Commerzbank said. Platts spoke to 30 companies for the Outlook over Dec. 7-11, comprising Chinese mills, domestic and international traders and mining companies. Manufacturing has recovered strongly in recent months and global supply chains have been restored, helping China’s exports to resume. Latest articles by Julian. I was told that the canary could go underground, but I wasn’t allowed to because that was bad luck,” said Melinda Moore, finance director and head of global outreach at Women in Mining, a voluntary organization that works to advance women’s representation in the sector. Recent positive moves to achieve equal opportunities in the sector are also plentiful. They discussed their motivations for working in metals. While quotas seem to have limited appeal, a number of the interviewees talked about the importance of measurable targets and comprehensive training, including in unconscious bias awareness. Some analysts feel iron ore prices have been spurred on by recent speculative demand, and stronger trade in derivatives around changes in forward iron ore supply and economic policies that may support steel demand. In other words, a lot of tons of iron ore depend on successful tie-in work, commissioning and ramp-up of new projects. In fact, Rio Tinto and BHP have both flagged maintenance work in calendar Q4 as being likely to impact iron ore production. Most participants saw exports at 60 million-80 million mt in 2021, while only 12% saw them higher than this level. Instead, things took off again in 2016, helped by some capacity reduction and a property construction boom. In February, we will discuss the industry’s response to the pandemic as well as evolutions in the marketplace and reverberations from the 2020 U.S. election. The company had been testing the environmental acceptability of the Trelavour project for two years, he said. This year, China looks on track to export around 54 million mt of steel, compared with 75 million mt in 2019. In October, Vale said it would reach 400 million mt by early 2023 at the latest. Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry. Mobile App Our Services News publishing, tag articles Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411 The iron ore price on Singapore’s SGX and on the Dalian Commodity Exchange hit a record high, based on demand due to high Chinese steel production, and concerns about supply, Commerzbank analyst Daniel Briesemann said in a Dec. 11 report. Even today, 60 economies have at least one restriction on women working in mining, according to a 2020 World Bank report. Many were skeptical (including this author) when Rio Tinto and BHP routinely trotted out the view a few years back that China would produce 1 billion mt of crude steel by 2025-2030. The process at Trelavour could also allow production of caesium and rubidium, which were on the US critical materials list, and could be used in the 5G network and other areas, he said. The midpoint value is typically 2%-5% lower than the underlying spot physical price. The 1.63% spread on Dec. 11 with the forward midpoint was the narrowest to the physical spot price since January. It is worth noting that the first quarter of each year contains China’s Lunar New Year holidays when markets close for at least a fortnight. This is therefore merely a personal view based on observing the market closely for almost 13 years. The investment objective of the company is to provide long-term capital appreciation and monthly cash distributions. Cleaner sectors have growing investor appeal, which is one reason for the current buzz around hydrogen. While relatively few of the companies surveyed volunteered private information on their executive remuneration ratios, based on the 20 that did respond, on average male executives across the two sectors earned 21% more than females. More Interest Rate Drops Possible:BoC . Many of the women described the discrimination they faced in entering particular jobs or progressing their careers, with several mentioning superstitions that even recently prevented women from working underground. These can include weather events and environmental factors, operational outages and disasters, government policy changes (especially in China)—and heavens above, a global pandemic. A more careful and diligent approach to developing and expanding iron ore mines could see longer project timelines. Meanwhile, Trump administration policy objectives that could fuel domestic demand for metals, such as an infrastructure program, have yet to manifest. “Given South Africa’s transition to liberation during the early part of my career, I also had to deal with racial discrimination – being designated as a previously disadvantaged person in regulation was disadvantageous at times as there was the perception that my opportunities were “given” and not “earned”,” said former Vedanta executive Deshnee Naidoo. But one would have to think some new capacity will be built—especially as the lion’s share is being funded by Chinese companies, which could potentially benefit from Belt & Road Initiative borrowing terms. Quite simply, the iron ore industry cannot afford another Samarco, Brumadinho or Juukan Gorge. 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