miércoles, 15 de agosto de 2018

Lithium boom unlikely to disrupt potash market — analyst

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Mining News Digest
Wednesday 15 August 2018
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While lithium and potash are often found in the same deposits and mined together, the increasing number of projects aimed at producing the white metal shouldn't have an impact in the potash market.

Called off strike at world's largest copper mine adds to pressure on copper price now down nearly 20% in little over two months.

The project is made up of five contiguous exploration permits and has a historic gold production of around 40,000 ounces of gold, mined between 1985 and 1996.

The $87.5-million deal is the latest Chinese acquisition of a lithium project in South America, following Tianqi Lithium's decision to buy 24% of SQM for $4.1 billion, which has not yet been approved by Chile's antitrust regulator.

The struggling mine, Gold Fields' only asset left in South Africa, holds the world's largest gold deposit after Grasberg in Indonesia and accounts for 60% for the company's mineral reserves.

Some of the latest battery technologies may become obsolete before reaching the market because of the breakneck pace of advances in the industry.

Billionaire hedge-fund manager Ray Dalio maintained his holdings in the two biggest gold-backed ETFs even as an investor exodus sent prices of the metal tumbling.

Japanese utilities and global mining giant Glencore have settled an Australian thermal coal import contract for April 2018-March 2019 at $110 a tonne.

Chilean copper producer Antofagasta said first-half core earnings fell 16.2 percent from a year earlier.

Chile, known for its vast copper deposits, is joining the search for cobalt amid soaring demand for a metal that's mostly mined in the politically risky Democratic Republic of Congo, which holds 60% of the world's reserves.

Monday's decline in the gold stocks has moved the sector into oversold territory, another day or two of a similar decline would likely put the various breadth indicators into extremely oversold territory.

The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers.

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