jueves, 13 de diciembre de 2018

Sumitomo to develop Chilean copper project in $1.2B deal with Teck

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Asia News Digest
Friday 14 December 2018
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Sumitomo Metal Mining and Sumitomo Corp. will pay $800 million earn-in contribution and $400 million matching contribution for a third of Teck's 90% interest in Quebrada Blanca mine.

Mining companies across the globe now consider the risk of losing their licence to operate as the biggest risk to their businesses in the next two years

The Australian rare earths miner said it was disappointed with Malaysia's decision to impose new conditions on its licence to operate in the country, adding it was considering all options, including legal action.

The support ship will be used at the company's Solwara 1 gold, copper and silver project, off the coast of Papua Guinea, set to be the world's first commercial deep-sea mine.

German automaker is also considering involvement in battery production.

The nine mines, six of which are nickel operations, have been shut since 2017 as part of an environmental crackdown on the sector.

In the past two years, Cat has been working on growing its offering, particularly in the underground segment, as well as filling up some gaps in terms of trucks sizes.

Recent drill highlights include 48.5 metres grading 2.69 grams gold from 60 metres downhole and 42.5 metres grading 2.55 grams gold from 31 metres downhole.

Sentiment in gold is shrinking and if the price doesn't change demand will decline

State authorities permanently shut down the Tamil Nadu plant after police fired on protesters calling for the closure of the plant in May over concerns it was polluting their air and water.

To cut and push up prices or not to cut and preserve market share.

It needs to be removed by September 2, 2019, when Lynas' temporary storage licence expires.

Looking at its resources, Indonesia will become the main player in lithium batteries.

The smelter went into maintenance that was scheduled for about 30 days, but has been extended due to a lack of oxygen supply from a neighboring oxygen plant.

Taking a big step closer to building the long-touted project that has faced fierce resistance from green groups.

For Indonesian President Joko Widodo, seeking reelection next year, getting a majority stake in the mine for Indonesia would be a political boon.

The company was not given any notice or opportunity to explain its position.

King Salman inaugurated the Waad Al-Shamaal mining project, which is expected to boost the kingdom's GDP by $6.4 billion and its non-oil GDP by 3%.

Local gold prices were trading near their lowest since Oct. 1, as an appreciation in the rupee made buying overseas cheaper.

Due to better coal economics and relatively unsupportive renewable energy policies, we expect coal to still dominate the fuel mix at more than 60% from now until 2027.

The project is part of an industrial scheme aimed at opening up Saudi's north to development that will boost job creation.

The outlook for coal depends basically on the growth of electricity and steel production in Asia.

It is expected that companies may choose to use the updated guidance starting January 1, 2019.

The Japanese firm's truck has achieved the unprecedented milestone of more than two billion tonnes of surface material moved autonomously.

The Tamil Nadu state disconnected the smelter's power supply in May following anti-pollution protests that turned violent and culminated in the police opening fire, killing 13 protesters.

Dealers in India were charging a premium for the first time since early September — of up to $3 an ounce over official domestic prices this week.

Following the news, NMDC shares fell as much as 7.4 percent to 99.20 rupees, their lowest since July 25, marking their biggest single-day fall since Aug. 9.

A judgment on the smelter will be uploaded on the court's website in a week's time, after which there will be no further hearings on the case.

Natural disasters and glitches at their ageing facilities have prevented Nippon Steel from producing as much steel as they had planned.

6 Months Thermal Coal CAPP Price
6 Months Tin Price
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