Cobalt demand in the battery industry is expected to grow by 100,000 tonnes over the next five years
A recent report by Benchmark Mineral Intelligence said it expects the battery industry's cobalt demand to grow by 100,000 metric tons over the next five years, while batteries will account for 72% of global cobalt demand in five years, up from 57% at the end of this year.
The agency noted that cobalt demand in traditional markets is weak, but the overall cobalt demand outlook remains positive as the market is very positive for battery cobalt demand.
The Las Bambas mine is scheduled to last until 2040
The Las Bambas copper mine in Peru is planning to extend its production beyond 2030, when the apurimac concession expires.
"2030 is just around the corner," said Patricia Downing, managing director of Las Bambas Development. "Current reserves allow the mine to produce until 2040."
The Chalcobamba mine, which is due to open in 2021, is considered a priority as part of the basic production plan.
Patricia Downing added that by the end of 2021, the company plans to implement 21 small and medium-sized projects as part of a sustainment plan.
First quantum copper reserves increased 36%
First Quantum Mining has expanded its copper reserves data following the update of its NI 43-101 technical report on its Taca Taca Copper, gold and molybdenum project in Puna, Salta province, Argentina.
The report Outlines the project's first estimated mineral reserves of 7.7 million tons of copper and more than 5 million ounces of gold and 210,000 tons of molybdenum.
Taca Taca boosted Quantum One's total copper reserves by 36 per cent to 29m tonnes, making it the fifth-largest copper reserve base in the world.
Hochschild has suspended operations at the San Jose gold and silver mine because of the outbreak
Hochschild Mining PLC has suspended the operation of its San Jose gold and silver mine as a result of a significant increase in COVID-19 infections in The Province of Santa Cruz, Argentina.
The company said it was conducting a deep cleaning of facilities and equipment at the site.
With the permission of the authorities, Hochschild Mining is expected to resume its limited operations on December 4.
Pumilithium completed a $100 million share offering
Pumilithium has announced that it has completed a $100 million market share offering announced on October 20, 2020.
As part of the company's ATM plan, The American Lithium has issued 9266,587 common shares with a total revenue of about $100 million.
The total net income from the program will be used for working capital and general corporate purposes.
The Lithithion is pleased with the outcome of the ATM plan, and with more than $145 million in cash on its balance sheet, the company is well positioned to complete the cauchari-Olaroz development and advance strategic discussions on the Thacker Pass financing.
The Botswana Diamond Company acquired Sekaka from Petra
The Botswana Diamond Company said On Monday that it had completed its acquisition of Sekaka, which is owned by troubled rival Petra Diamonds and holds three exploration licenses in the Kalahari Wildlife Reserve in central Botswana.
Petra Diamonds was forced to divest its non-core assets and sell Sekaka in June due to its poor financial position.
However, the company reversed that decision in October, opting instead for a debt-for-equity restructuring.
The deal will leave existing shareholders holding only 9% of Sekaka's shares.
The Centinela Copper mine union rejected the contract offer
On Monday, a union at Antofagasta Mining Co. 's Centinela copper mine rejected a contract offer, raising the prospect of a strike at the mine.
Under Chilean law, once the unions approve the strike, the two sides will take part in five days of government-mediated talks, which can be extended for another five days.
After that, workers can strike.
Australian gold production fell to 81 tonnes in the third quarter
Surbiton Associates, a gold mining consultancy, reported that Australian gold production fell to 81 tonnes in the third quarter, down from 85 tonnes in the second quarter.
The main reason for the decline was a drop in production at several large gold mines in Australia.
Dr Sandra Cross, director of Surbiton Associates, said Australia's total gold production from January to September 2020 was about 244 tonnes, close to or possibly surpassing the 326 tonnes produced in 2019, which is usually the highest for the year in the fourth quarter.
In addition, interest in the gold sector remains high, as reflected in increased exploration spending.
Chilean copper production fell 0.2 percent in October
Chile's manufacturing output jumped 6.2 per cent in October, the national statistics bureau said on Monday.
As the world's largest copper producer, Chile's economy continues to recover from the peak of the COVID-19 epidemic.
Chilean copper production fell 0.2 per cent year-on-year to 492,761 tonnes in October from 493,988 tonnes a year earlier, the agency said.
Brazil to update regulations on tailings DAMS
ANM, Brazil's mining regulator, will hold public hearings in the coming days to update regulations on tailings DAMS.
The hearing is expected to last 45 days, and recommendations from the process will serve as a basis for new regulations.
The aim of the regulatory update is to allow mining companies to use tailings to have a positive impact on the local economy, and some mining companies are already doing so.
PUDA History:
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.
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
