Mining headlines
1. Global mining mergers and acquisitions shrank by more than US$18 billion in the first half of the year
GlobalData reported that due to the impact of the new crown pneumonia epidemic, global mining mergers and acquisitions have shrunk by more than 18 billion U.S. dollars compared with the first half of 2019, and fell to 46.6 billion U.S. dollars in the first half of 2020. The global economic downturn has caused changes in the global investment structure, and the funds raised by mining companies have also fallen by 12.7% year-on-year.
2. NASA plans to formulate a space mining law
A few days ago, NASA is looking for companies to conduct space mining and hope to purchase some moon rocks in order to establish a legal framework in the Milky Way. The agency is also looking for global explorers to take part in a trip to the moon at its own expense to collect soil or rock samples without bringing the material back to the ground. This work aims to create a legal precedent for mining on the moon's surface, which will allow NASA to one day collect ice, helium or other materials useful to the moon and even Mars colonies.
Mining Company
1. Vale issued a statement on the stability of the two dams
According to Vale’s official news, based on continuous monitoring of the safety status 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.
2. FMG was approved to expand the port's iron ore export capacity
Iron ore giant FMG has received approval to increase the material handling capacity of its Herb Elliot port facility from 175 million tons to 210 million tons per year in phases. The company said on Friday that the revised permit uses the capacity of the existing port infrastructure, including five berths and three shiploaders, and supports the company’s 175-180 million tons of iron ore shipment guidance in 2021. . The increased shipping capacity includes 188 million tons of hematite and 22 million tons of magnetite concentrate each year. The first batch of magnetite will be shipped in mid-2022.
Mining market
1. China's copper imports surged 65% year-on-year in August
According to customs data, China's imports of unwrought copper fell to 668,486 tons from a record of 762,211 tons in July in August, but still increased by 65% from August last year. So far this year, China's total copper imports are 4.27 million tons, an increase of 38% over 2019, and it is expected to easily break the 2018 annual record of 5.3 million tons. However, due to continued supply disruptions from Peru and Chile, China’s largest copper suppliers, copper concentrate imports in August fell by more than 12% from the same period last year to 1.59 million tons.
2. IEA: The oil market is unlikely to recover quickly
Although the epidemic may not lead to another significant slowdown in the global economy, the International Energy Agency (IEA) once again expressed its concerns about the oil market on Monday, believing that backlogs of inventories and uncertainty in oil demand continue to hinder the recovery of the oil market. Keisuke Sadamori, Director of Energy Markets and Security at the International Energy Agency, said: “There seems to be no sign of a large-scale decline in inventories, refining activities are not growing strongly, and jet fuel demand remains weak.
Mining country
1. Brazil opens 502 mineral rights for exploration
The Brazilian government plans to grant 502 mineral exploration concessions to attract more investment in the industry and diversify the country’s mining production. These areas are rich in construction materials such as sand, gravel and gypsum, but the government also intends to grant other mineral rights. Brazil’s National Mining Agency stated in a statement that about 57,000 areas in its investment portfolio are available for exploration, covering an area of approximately 500 square kilometers. Currently, all transfer areas are in the application or approval stage.
2. The 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.
3. Zimbabwe issued a mining ban
According to a report by the BBC on September 9, mining is no longer allowed in all national parks in Zimbabwe. This decision was prompted by a court action taken by environmental protection organizations. The report quoted a statement from the country’s Minister of Information Monica Mutswanwa saying that the ban will take effect immediately. At the same time, Zimbabwe also announced a ban on mining along most river beds.
4. India plans to restrict imports of copper and aluminum from China
Indian officials said that India is planning to strengthen the supervision of copper and aluminum imports, while formulating policies to curb exports from China and other Asian countries to protect domestic producers. Government sources said that officials in New Delhi are expected to soon require importers to register with the authorities. This is the first step towards tightening controls, which will require a license for separate shipments of the two metals.
Mining project
1. Ivanhoe announces the comprehensive development plan for the top copper mine of Kamoa-Kakura
On September 8, Ivanhoe Mines announced the comprehensive development plan for the Kamoa-Kakura top copper mine. The new final feasibility study incorporates the construction and development progress so far, and once again proves the first phase of the Kakura mine Considerable economics of development. In addition, the expanded preliminary economic evaluation report pointed out that the project has great potential to significantly expand its scale and significantly increase production capacity. Friedlander said that the updated version of the preliminary economic assessment has further proved the potential of Kamoa-Kakura's rapid expansion into the world's second largest copper mine, with an annual output of copper metal of more than 800,000 tons.
2. Rio Tinto's Oyu Tolgoi copper mine is accused
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.
3. Shandong Gold once again raised its offer to Cardinal Resources
Earlier this week, Shandong Gold increased its offer for Cardinal Resources from 70 cents per share to A$1 per share, which was higher than that of Nord Gold, which had previously increased its offer from 60 cents per share to A$90 per share. Minute. On a fully diluted basis, Shandong Gold’s takeover offer valued Cardinal Resources at approximately A$556.6 million, an 11.1% premium over Nord Gold’s revised offer. Cardinal Resources told shareholders on Tuesday that the company has carefully considered Shandong Gold’s revised takeover offer, and given that the offer is better than Nord Gold, the company urges shareholders to accept Shandong Gold’s takeover offer.
