Vale issues stable state statement for two dams
According to Vale’s official news, based on continuous monitoring of the safety of its geological structure, regular inspections by recording engineers and data related to the structure, based on preventive measures, it has recently begun to implement the Paracatu and Patrimnio dams. Level 1 emergency agreement (minimum risk level), which does not require evacuation of residents downstream of the dam. The statement also stated that the launch of the emergency agreement for the two dams will not affect production in 2020.
Greenland government announces amendments to mineral licenses
According to reports, the Greenland government announced two major revisions to the country’s standard terms and conditions for mineral exploration licenses, including the extension of all the unfulfilled annual exploration obligations of all transferred mineral exploration licenses for one year. ; At the same time, the validity period of all mineral exploration licenses will be extended for one year.
Silver performance is outstanding
Due to the high risk aversion, gold has always been the most attractive precious metal, and the price of gold also broke the record high in August. But in fact, silver has experienced an even better year, and its income is almost twice that of gold. Compared with the beginning of April, the price of silver has risen from US$14 to US$29. The CEO of Los Angeles-based precious metals broker Noble Gold believes that as the economy rebounds, there will be more room for silver prices to rise.
Rio Tinto's Oyu Tolgoi copper mine faces charges
According to the Financial Times, the U.S. Securities and Exchange Commission is reviewing the whistleblower's allegations against the Oyu Tolgoi copper mine. According to reports, Rio Tinto is now aware of the problems with its Oyu Tolgoi underground copper mine expansion project. But the US Securities and Exchange Commission has not yet decided to investigate.
African Barrick Gold Company’s Tax Appeal Was Convicted Again
Tanzania’s mainstream media "Citizen" reported on September 3 that the Court of Appeal of Tanzania ruled that the African Barrick Gold Company sued the Tanzanian Taxation Bureau for taxation of US$41.25 million against the former, and ruled that the company should pay to relevant Tanzanian authorities as required. Taxes. According to reports, the African Barrick Gold Company changed its name to Acacia Mining Co., Ltd. in 2018. This is the company's third appeal failure.
Bank of America Merrill Lynch: Even with vaccine oil demand, it will take three years to recover
Bank of America Merrill Lynch analyst Peter Helles and others wrote in the report that if there is a new crown vaccine or treatment, it will take three years for global oil demand to recover from the new crown epidemic. From 2019 to 2025, consumption is expected to increase by 4 million barrels per day to 104 million barrels per day.
Saudi Aramco cuts October crude oil export prices
Recently, Saudi Aramco lowered its crude oil export prices to Asia, the United States, Northwest Europe, and the Mediterranean region in October. This sign shows that as the epidemic continues to affect, the world’s largest oil exporter believes that global energy demand will fluctuate . Saudi Aramco lowered the October export price of its benchmark crude oil, Arabian Light Crude Oil, to Asia by $1.4/barrel, which is 50 cents lower than the current benchmark price in the region.
Shengtun Mining Indonesia Gao Bing Nickel Project officially put into operation
Shengtun Mining announced on the evening of September 7 that the No. 1 electric furnace of the joint venture Youshan Nickel Industry in Indonesia's Vidabe Industrial Park with an annual output of 34,000 tons of nickel metal high matte nickel project successfully produced the first batch on September 5 Ferronickel. The above-mentioned projects were officially put into production, which expanded the company's overseas nickel business scale and will produce better economic benefits in the future.
South African coal production in the first half of 2020 drops 2.6% year-on-year
According to statistics compiled by the South African Ministry of Mineral Resources and Energy (DMRE) and the South African Bureau of Statistics (Stats SA), South Africa’s coal production in the first half of 2020 totaled 122.6 million tons, a drop of 2.6% from 125.9 million tons in the same period last year. . In the first quarter of 2020, South African coal production continued to grow, with quarterly output of 63.6 million tons, an increase of 5.2% year-on-year. Coal production in the second quarter was 59 million tons, a decrease of 7.8% from the first quarter and a decrease of 9.9% from the second quarter of 2019.
The central bank of the Philippines adjusts its reserve policy or will sell gold
The Central Bank of the Philippines recently announced that it will trade gold flexibly in order to maintain its allocation of 10% of its total foreign exchange reserves. As of the end of July, the Philippine Central Bank’s foreign exchange reserves totaled US$98.6 billion, of which 13% were gold reserves. This means that the price of gold rises, and the country's central bank will sell some gold. The governor of the Central Bank of the Philippines stated that it was precisely because of changes in the price of gold that it adjusted its gold reserve policy, and said that it would always act as opportunities for foreign exchange reserve management.
