The United States may provide tax incentives for rare earth production and processing companies
Recently, members of the US House of Representatives introduced a bipartisan bill to try to reduce the dependence on China's rare earths in major industries. The bill encourages the mining and recovery of domestic mineral resources in the United States, and also provides tax incentives for related companies. It has received extensive support from domestic rare earth companies in the United States.
The EU issues an alert due to a shortage of critical raw materials
European Commission Industry Commissioner Thierry Breton recently stated that the epidemic has made the EU's dependence on other countries' key materials and supply chains more serious. The European Commission warned that EU member states' excessive reliance on imports of key raw materials may damage key industries such as aviation, automobiles, and new energy, and put the EU facing the threat of tightening of the supply chain of resource-rich countries. To this end, the European Commission stated that it is considering increasing the list of key raw materials from 27 to 30 in 2017, adding four metals such as strontium and lithium, and removing helium.
Guinea's mineral resources development welcomes good news again
Recently, the Guinea government plans to implement four major projects, including the railway from Conakry, the capital of Guinea, to Bamako, the capital of Mali. The area along the railway contains rich, high-quality, high-value-added mineral resources. , Such as rare earth, cobalt, lithium, copper, zinc, etc. It is expected that after the completion of this railway, a large number of foreign mining companies will be attracted to mine mineral resources in the areas along the railway. It is transported by rail to the port of Conakry and then shipped for export.
BP wants to sell its headquarters building
According to a report on the website of the British "Times" on August 30, the energy giant plans to withdraw from its historic international headquarters in central London as BP laid off 10,000 employees and reduced office space. BP is the latest major company to say that the way its employees work will be permanently changed. Its CEO Bernard Looney said that the company will prefer a "hybrid office approach," which includes a combination of home office and office work. BP will sell the building at St James' Square, which is expected to sell for more than 300 million pounds (about 400 million US dollars).
Peru July copper production fell 2.2% year-on-year
A Peruvian government official said on Tuesday that copper mining in Peru has almost completely recovered from the impact of the epidemic. Jaime Galvez, Deputy Minister of Energy and Minerals, said in a report that, affected by the epidemic, Peru’s copper output in July fell 2.2% from the same period last year to 19,796 tons. The Peruvian government issued a quarantine measure against the coronavirus in mid-March, imposing special restrictions on mining activities. Mining is Peru’s main economic engine, and the industry has begun to gradually recover in May.
Kyrgyzstan will increase tax rates for mining companies
According to a report on the Russian INFOLine website on August 28, Kyrgyzstan will increase the tax rate for mining and processing companies that export gold ore and gold concentrate to 7%. The President of Kyrgyzstan Solomby Zhenbekov signed the "Tax Law Amendment of the Kyrgyz Republic", the purpose of which is to improve the tax legislation of mining and processing companies engaged in the mining and sale of gold ore, gold concentrate, gold alloy and refined gold , And clarify the tax base of royalties and their tax rates. The law will take effect 2 months after the official release date.
BHP Billiton fully promotes the application of green energy
BHP Billiton said on Tuesday that the company has reached an agreement to support new solar and wind power plants in Queensland, Australia, which is an important part of the company's promotion of renewable energy applications. BHP Billiton said the move will help reduce its carbon emissions in Australia by 20% within five years. In addition, BHP Billiton also reached an agreement with generator retailer CleanCo to try to reduce the company's operating emissions and diesel usage.
Barrick initiates lawsuit over Porgera gold mine lease
Barrick Gold Corporation of Canada stated that it will file a lawsuit with the Supreme Court of Papua New Guinea to recapture the Porgera gold mining rights deprived by the government. Barrick said that if there is no legal way to resolve the issue, international arbitration will be initiated. Barrick Gold also stated that the company has also initiated another complaint to the International Investment Dispute Resolution Center of the World Bank. The Porgera Gold Mine has been completely shut down due to a lease fight. The mine produced nearly 600,000 ounces of gold last year.
Yanzhou Coal Industry releases 2020 semi-annual report
Recently, Yanzhou Coal Industry released the 2020 semi-annual report. The report shows that under the Chinese Accounting Standards, in the first half of 2020, the company achieved operating income of 109.61 billion yuan, a year-on-year increase of 3.4%; net profit attributable to shareholders of the parent company was 4.6 billion yuan, a year-on-year decrease of 14.2%. Under the International Financial Reporting Standards, the company achieved sales revenue of 35.32 billion yuan, an increase of 6.3% year-on-year; the net income attributable to shareholders of the company for the current period was 4.55 billion yuan, a year-on-year decrease of 21.7%.
Saudi Arabia's August oil exports to the United States are expected to decrease by nearly 50% year-on-year
According to estimates by ClipperData, a commodity research company, in August, the United States imported only 264,000 barrels of crude oil from Saudi Arabia a day. This is a drop of nearly 50% from the 2019 average. If confirmed by official government statistics, this will be the lowest level of Saudi oil exports to the United States since 1985. Matt Smith, Head of Commodity Research at ClipperData, said: "Saudi crude oil flowing to the United States has basically dried up."
