LKAB plans to invest heavily in producing iron ore without carbon
LKAB, Sweden's state-owned mining company, said on Monday it wanted to invest 400 billion kronor ($46.5 billion) over 20 years to move to carbon-free production of iron ore in what could be one of the country's biggest ever industrial investments.
LKAB said the plan would require an expansion of Sweden's renewable energy production and a more flexible regulatory framework, but the shift would reduce global carbon dioxide emissions by 35m tonnes a year.
Plans include replacing pellet production with a hydrogen-based process that does not contain carbon dioxide.
Cardinal Resources gets new offer
Ghana Engineer&Planners Company has formally made Cardinal Resources an all-cash offer of $220m, or $1.05 per share, for its Mining interests in Ghana.
This means there is a third bidder in the race for Cardinal Resources.
Cardinal has urged shareholders not to take any action on Engineer&Planners' offer.
The new offer effectively broke the deadlock between the bid for Fangnord Gold and Shandong Gold Mining.
Shandong Gold has previously said it would be willing to raise its offer price in the event of an offer above A $1 a share.
Gold fell to a four-month low
Gold fell to its lowest level in four months on Monday as growing optimism over coVID-19 vaccines and signs of recovery in the US economy prompted investors to switch from safe-haven metals to riskier assets.
Spot gold in New York fell 1.6 per cent to $1, 839.57 an ounce as of 1pm New York time on Monday, after falling as much as 2 per cent in early trading.
Us gold futures fell 1.9 per cent to $1,836.20 an ounce.
Third-quarter profits at MP Materials, the US rare earth miner, surged fivefold
MP Materials Corp. said Monday its third-quarter profit surged more than fivefold.
The move comes days after the US rare earth miner secured a deal with Fortress Value Acquisition Corp.
Trading is listed on the New York Stock Exchange.
In the third quarter, the company produced 10,197 tonnes of concentrate containing rare earth oxides and made a net profit of $14.6m, compared with $2.8m in the same period last year.
Last week, the Pentagon offered MP Materials a $9.6 million award to help it ramp up production of rare earths.
Cochilco expects Chile's copper output to grow 2.9 per cent year on year in 2021
Cochilco, Chile's national copper commission, said on Monday that Chilean copper production was likely to rise a modest 0.6 per cent to 5.82m tonnes in 2020.
Copper output will rise to 5.99 million tonnes in 2021, up 2.9 per cent year on year.
Cochilco estimates that copper will average $2.75 a pound in 2020 and rise to $2.90 a pound in 2021.
Announcing the Cochilco data on Monday, Mining Minister Baldo Prokurica said the rise in copper prices had been driven by positive expectations of Chinese demand, an economic recovery, falling copper stocks and the increasing likelihood that the COVID-19 vaccine would be widely available in the first six months of next year.
Teck Resources to increase sales of coal for steelmaking in China
Canada's Tektronix Resources has announced that it has increased sales of coal for steelmaking to China in the fourth quarter of 2020 in response to rising demand.
Thek said sales prices had been high compared with markets outside China.
Total fourth-quarter sales are expected to remain within the company's existing guidance of 5.8m to 6.2m tonnes, with about 20 per cent of sales going to Chinese customers.
Codelco is seeking talks with Ecuador on the Llurimagua project
Codelco, the world's largest copper miner, said on Monday it was seeking talks with its Counterparts in Ecuador after failing to honour a 2019 agreement to jointly develop the Llurimagua copper project in the country.
Llurimagua is currently in advanced exploration and could become Codelco's first mine to operate overseas.
The company had been trying to expand internationally for several years.
Trafigura signed an agreement with the Democratic Republic of Congo to secure supplies of cobalt
Trafigura, the commodities trader, has signed an agreement with the Government of the Democratic Republic of Congo to help improve conditions in informal mining areas in return for supplies of cobalt.
As part of an off-take agreement with the state company, Generaledu Cobalt (EGC), Trafigura will fund the establishment of six tightly controlled artisanal mines.
The company will also set up ore procurement stations to control the ore trade and thus prevent human rights abuses in the DRC Cobalt sector.
Trafigura said it would also use QR codes to track metal from the mines to prove its origin to customers.
Bluejay Mining joins the European Raw Materials Alliance
Bluejay Mining, an Aim-listed company, has joined Erma, the European Raw Materials Consortium.
Erma was launched by the European Commission in September as part of its action plan on key raw materials.
The action plan identifies steps Europe must take to diversify and strengthen its supply chain, reduce its dependence on other countries, and reduce its dependence on key raw materials by ensuring access to sustainable raw materials.
Bluejay is working on Greenland's Dundas ilmenite project, where titanium is listed by the European Commission as a key raw material.
The company also has an extensive portfolio of projects in Greenland and Finland, with exploration projects covering base metals such as copper and nickel, as well as cobalt and platinum group metals.
The Minerals Commission has urged the government to make reforms
On November 20th Moody's and Fitch both downgraded South Africa, while maintaining negative outlooks.
While S&P kept its investment outlook neutral, overall it was the worst rating for South Africa by the three agencies since 1994.
The Minerals Council of South Africa expressed concern about moody's and Fitch's downgrade of the country's sovereign rating, saying it was pushing South Africa into the "junk zone".
Roger Baxter, CHIEF Executive officer of the Minerals Council of South Africa, reiterated his call for decisive and swift action by government leadership and other key actors to urgently undertake structural and institutional reforms to enhance competitiveness and private sector participation and investment.
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PUDA is a 28-year’s leading, growth-focused manufacturer of packing equipment and custom-engineered and integrated plant-wide system for dry bulk powders, flakes, and granules! PUDA-International Inc. is a Canadian based company located in Great Vancouver, Canada in 2004. Puda owns world famous partners like Southern Copper Corp. Rio Tinto Group, Zijin Group, LG China, OT Group, FL Smith, MCC,KAZ Minerals PLC and E.Mix and ECUACORRIENTE S.A.
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Heater sealer
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Dry mortar plant
Screeners
Bulk bag discharger
