viernes, 18 de mayo de 2018

China's Chilean entry raises doubts about lithium price outlook

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Mining News Digest
Friday 18 May 2018
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SQM shares plunge after Tanqi Lithium acquisition seems to indicate cooling fervour for lithium assets.

The Asian firm has bought a 24% stake in Chile's Sociedad Quimica y Minera (SQM), one of the world's biggest lithium producers.

Quellaveco is one of the world's largest untapped copper orebodies and Anglo's board is set to decide later in the year whether or not to green-light development of the $5.5bn mine.

The miner is receiving an upfront cash payment of $155 million for AuRico Metals' royalty portfolio and about $45 million payable in four tranches for Kemess's silver output.

President Emmerson Mnangagwa has been trying to shore up foreign investor interest in a country rich in mineral resources but starved of capital.

On May 17, Peter Karakchiev, ALROSA's Head of International Relations, was elected as RJC's Vice Chairman at its 2018 annual general meeting held in Moscow.

Tanzanian gemstone miner Tanzanite One has agreed to pay compensation and overdue taxes to the government after violations led to losses in public revenues.

The 450-kilometer (280-mile) track will link the southwestern town of Mayoko to a port at Pointe Noire.

An increase in self-purchase of diamond jewellery helped drive demand, representing 33% of total US diamond jewellery pieces acquired in 2017.

Geopolitics has taken over the oil market, driving oil prices up to three-year highs.

Lundin Mining's board of directors, chaired by billionaire resources tycoon Lukas Lundin, refuses to invest in Eritrea.

Province's contribution to a clean energy future at risk unless changes are made.

"The (last) miner's body was trapped under one of many structures in the destroyed pit," JSW said in a statement.

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