miércoles, 17 de octubre de 2018

Rio Tinto delays start of Oyu Tolgoi expansion due to technical issues

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Mining News Digest
Wednesday 17 October 2018
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First production from the $5.3 billion underground expansion of Oyu Tolgoi was originally scheduled for early 2020.

World warehouse stocks are dropping, down 50% since the first of April.

Operations will resume before year end, but a planned ramp-up to 26.5 million tonnes per year is likely to be pushed back to 2021 from 2020.

CEO Fabio Schvartsman said the company would only invest further in nickel if global prices for the metal rise from $13,000 per tonne currently to around $20,000 per tonne.

Researchers from Curtin University discovered reidite, one of the rarest minerals on Earth buried deep within an ancient meteorite crater in Western Australia.

BHP's iron ore output rose to 69 million tonnes during the three months ended Sept. 30.

Samarco, a joint mining venture between Brazil's Vale and BHP Billiton, could resume production at a third of its capacity at the beginning of 2020.

Clean cars, dirty batteries.

Hungary's central bank increased its gold reserves 10-fold, citing the need to improve its holdings' safety, joining regional peers with relatively high ownership in the European Union's east.

The copper market is currently experiencing a squeeze on physical metal which is unexpected.

US hedge fund Livermore Partners is calling for an overhaul of the board at Detour Gold Corp and a strategic review, becoming the second activist to target the Canadian mining company.

Education and health are the way forward for Nigeria.

Dutch battery maker Lithium Werks BV, founded earlier this year, is investing 1.6 billion euros ($1.85 billion) in a massive lithium-ion cell factory in China as demand for batteries is surging.

The United States is seeking to impose quotas on Mexican steel exports as part of a negotiation to remove metals tariffs.

Steel demand expected to rise by 3.9% in 2018, but trade tensions are clouding global economic outlook.

These Top 10 lowest cost gold mines are all below AISC's $550/oz level and will prove profitable – even if the price falls 50%.

The oil price is rising due to the upcoming restrictions on the sale of Iranian oil – the second of a two-part set of sanctions imposed on the Middle Eastern power following the Trump Administration's decision in May to withdraw from the Joint Comprehensive Plan of Action (JCPA).

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