Albemarle and Chile dispute over lithium reserve data
The world's largest lithium producer, Albemarle, has conflicts with Chilean regulators over the calculation of lithium reserves, which poses a potential risk to its production increase plan. Chilean regulators requested information on Albemarle’s reserves in the Atacama salt flats. Albemarle submitted a report in August 2019 that included estimates of Atacama reserves. But after the regulator questioned the company's methods, Albemarle declined to provide more details. Albemarle was approved in 2016 to increase the lithium production of Atacama. The export license requires miners to prove that the reserves can sustain the increase in production. This information will be provided to the Chilean Atomic Energy Agency CCHEN, which is responsible for lithium exports. If CCHEN believes that Albemarle does not comply with its rules, it can suspend the license.
The collapse of the Democratic Congo gold mine killed at least 50 people
A mining NGO in the Democratic Republic of Congo said that an artisanal gold mine near Kamituga in the east of the country collapsed on Friday afternoon, killing at least 50 people. Mining accidents are common in unregulated artisanal mines in the Congo, where dozens of people die every year in mining accidents. A 2019 report by the World Bank estimated that the number of small-scale mining workers in Congo was 2 million, far exceeding the number of workers under companies such as Glencore and Barrick Gold.
National Exploration Agency established in Bolivia
Bolivia recently announced the establishment of the National Exploration Agency. The goal of the bureau is to restore mining operations in the country and promote the industrialization of the industry, while leading exploration activities in Bolivia. The President of Bolivia announced the news during a visit to the southwestern province of Potosí, where the famous Salar de Uyuni is located. The Uyuni salt marsh is considered to be the second largest lithium deposit in the world, second only to the Argentine salt marsh in scale, and contains most of the country's lithium resources.
Brazil is optimistic about iron ore exports
Alexandre Vidigal, Minister of Geology, Mining and Mineral Transformation of Brazil, said that the prospects for recovery currently seen are already very beneficial to the Brazilian market, and Brazil can fully keep up with China's demand for iron ore. In the second quarter of 2020, the output value of Brazilian mining companies reached 7.5 billion U.S. dollars, an increase of 9% from the first quarter; the total iron ore exports were 5 billion U.S. dollars, an increase of 6% from the previous month and a decrease of 5% year-on-year; the export volume of iron ore reached 76 million tons, an increase of 8% month-on-month and a year-on-year decline of 3%.
Argonaut Gold sells Ana Paula gold project
Toronto-listed company Argonaut Gold has signed an agreement to sell its Ana Paula gold development project in Mexico. The company will continue to focus on the development of the Magino gold project in Ontario, Canada. Through the sale of the Ana Paula project, Argonaut will receive US$30 million and another 10 million Canadian dollars after the project starts, as well as a 1% net smelting royalties. In addition, Argonaut will receive a 9.9% stake in the acquired company.
First Majestic receives US$59 million investment
First Majestic, a silver producer focused on Mexico, announced that it will raise $59 million in financing through the acquisition of mining billionaire Eric Sprot. This investment will enable Sprout to hold 2.3% of First Majestic's issued and outstanding common stock. The company plans to use the proceeds and existing cash to develop existing mines and working capital.
From 2025, Los Pelambres copper mine will mainly use seawater
Antofagasta Mining Company is preparing to submit an investment proposal for its Los Pelambres mine in Chile. The mine may stop using Choapa River and nearby groundwater, and will mainly use seawater from 2025. In this way, Los Pelambres will be able to guarantee the amount of water available for its operations and extend its operating time beyond 2035 after its current environmental permit expires.
Greatland obtains mining lease for Australia's gold and copper project
Greatland Gold PLC, a London-listed company, said that by signing a $65 million sublease agreement with Newcrest, its Havieron gold and copper project in Western Australia has obtained the mining lease, which covers 12 blocks. Greatland Gold PLC will soon submit a preliminary mining proposal to the Western Australia mining department, industry regulators and safety authorities.
Wood Mackenzie expects "more investment" in the battery supply chain
Researchers at Wood Mackenzie say that by 2030, the battery supply chain will require "more investment." According to Wood Mackenzie's forecast, in order to control global warming within 2.5 degrees Celsius, the current use of electric vehicles needs to be 10 years ahead of schedule, and electric vehicles account for about 40% of global passenger car sales. To achieve this goal, the cobalt market must be doubled, and 800,000 tons of lithium battery capacity will need to be increased in the next five years. In addition, the battery industry needs another 1.3 million tons of nickel and 1.6 million tons of graphite.
