The value of Australia's iron ore exports has set a new record
Australia's iron ore exports hit a record a $10.9 billion in October, accounting for more than a third of the country's total, as demand from China continued to grow, according to the Australian Bureau of Statistics.
Branko Vitas, director of international Statistics at the Australian Bureau of Statistics, said much of the export growth was driven by metal mining.
Australian metal exports rose 7 per cent in October.
Most of the metal exports are iron ore to China.
Indonesia has incorporated downstream nickel projects into national strategic projects
The downstream nickel project will be listed as one of the national strategic projects (PSNS), according to a recent Indonesian media report.
The Ministry of Maritime Affairs and Investment Coordination will continue to pursue national strategic projects such as the construction of a nickel smelter in Sulawesi province.
According to Indonesian officials, the central and local governments provide various licensed facilities in accordance with laws and regulations.
These measures reflect the commitment of the Indonesian government to enhance the competitiveness of national industry in the world and to increase the added value of nickel commodities.
In addition, the Indonesian Government has directly reviewed the readiness of many of the sulawesi smelters in the PSN proposal.
Global crude steel production rose 7.0% in October from a year earlier
Crude steel production in 64 countries rose 7.0 per cent in October from a year earlier and 3.5 per cent month-on-month to 161.9 million tonnes as industrial activity recovered in more countries, according to the latest data from the World Iron and Steel Association.
In October, Asia produced 120.1 million metric tons of crude steel, up 10.4 percent from a year earlier.
China's crude steel output was 92.2 million tons, up 12.7% year on year.
India's output was 9.1 million tonnes, up 0.9 per cent year on year;
Japan's output was 7.2m tonnes, down 11.7 per cent year on year;
South Korea produced 5.9m tonnes, down 1.8 per cent from a year earlier.
Mr Cochilco expects global copper supply to fall by 257,000 tonnes this year
Global copper supply this year will fall 1.2 per cent, or 257,000 tonnes, from 2019, According to Cochilco, Chile's national copper commission.
The biggest declines were in Peru (14.5 per cent), Australia (7.5 per cent) and Mexico (4.5 per cent).
Cochilco expects global copper supply to rise 1.36m tonnes year-on-year to 21.4m tonnes in 2021, with most of the growth coming from Peru (315,000 tonnes), Chile (175,000 tonnes), the US (112,000 tonnes) and China (82,000 tonnes).
Shanghai Dingxin sold 70% interest in Angel Nickel project for $490 million
Nickel Mines, an ASX-listed company, has signed a binding definitive agreement with partner Shanghai Ding Xin Investment (Group) Limited to buy a 70 per cent stake in Indonesia's Angel Nickel project for $490m.
Nickel Mines said on Monday that the actual cost of building the Angel Nickel project was expected to be no more than $700m, and Shanghai Ding Xin promised to reimburse Nickel Mines for any construction costs above that limit.
In addition, Shanghai Dingxin will purchase all products produced by Angel Nickel project at the market price.
KORE Mining is considering a gold spin-off
KORE Mining is considering maximising the value of its gold portfolio by splitting its US development assets and Canadian exploration assets into separate listed companies by splitting them off to shareholders.
The board empowered management to consider various trading options to achieve this "in the most tax-efficient and value-creating manner possible".
The company is expected to make a decision in the next few weeks, and the deal could close as early as the first quarter of 2021.
Greece starts the process of selling assets owned by nickel producer Larco SA
Greece has started the process of selling assets owned by nickel producer Larco SA, Reuters reported.
The government owns 55% of the company.
Preliminary bids will expire on January 8, 2021, with binding bids expected in the first half of 2021.
The sale includes three mines, lots and other property.
Larco SA has been struggling with 500 million euros in debt to suppliers, contractors, Banks and pension funds.
In addition, Greece's privatisation agency will hold a second tender for the sale of a smelter by the end of November.
Southern Peru Copper plans to spend $650m to expand its Cuajone mine
Grupo Mexico's Southern Peru Copper plans to invest $650 million to expand its Cuajone open-pit mine.
Jorge Meza Vivero, the company's chief operating officer, said the investment would help increase the mine's processing capacity from 85,000 tonnes a day to 120,000 tonnes a day.
In addition, Southern Peru Copper plans to test the world's largest tailings filter in Cuajone, which will handle 10,000 tons of tailings and will serve on the Las Chancas project.
Polyus approved a $300m share buyback programme
The board of PJSC Polyus, a Russian gold mining company, approved a plan to buy 1,428,571 shares held by its largest and minority shareholders in a deal expected to total at least $300m.
Polyus plans to use the shares for the continued consolidation of PJSC Lenzoloto assets, long-term incentives, consideration for potential acquisitions and other corporate purposes.
Lundin Mining reviewed the possibility of restarting the Candelaria mine
Lundin Mining said it was evaluating the feasibility of restarting the Candelaria copper mine in northern Chile.
On November 19th members of the Candelaria AOS union voted to accept the management's latest pay offer, ending a 32-day protest.
However, a continuing strike by the smaller Mina union is likely to prevent the mine from resuming normal operations.
The union has blockaded the Candelaria mine several times since an indefinite strike began on October 8.
ABOUT PUDA:
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.
Puda is totally committed to achieve customer satisfaction around the world by providing quality service to top clients from conception to installation, through to commissioning and after sales support.
Puda bagging machines range from individual equipment to automated systems that are suitable to mineral, metallurgy, agriculture, chemicals and food.
Bagging Machines
Heater sealer
Check-weigher and-rejecter
Hooking scale, platform scale
Mixers/Blenders
Dry mortar plant
Screeners
Bulk bag discharger
