Asia Mining – Page 24 – Republic of Mining

Shift to clean energy accelerating, but coal investments too high, report says – by Victoria Milko and Aniruddha Ghosal (Associated Press – May 25, 2023)

May 30, 2023

JAKARTA, Indonesia (AP) — Energy security concerns — worsened by the war in Ukraine — and policy support from rich countries are likely to help investments in clean energy outpace spending on fossil fuels, the International Energy Agency said in a report issued Thursday.

But investments in coal are on course to rise by about 10% in 2023, nearly six times what the IEA has estimated they should be for the world to end its reliance on fossil fuels and achieve emissions cut goals for countering climate change, it said.

Ottawa drove China out of Canada’s lithium industry, but questions linger over costs – by Naimul Karim (Financial Post – May 23, 2023)

May 24, 2023

https://financialpost.com/

Here’s what you need to know about the move’s impact on miners, critical minerals and even the TSX

Last November, the federal government ordered three Chinese companies to divest from three junior Canadian lithium explorers. The step was taken amidst an increasing demand for critical minerals such as lithium and copper that are expected to play a key role in the world’s shift away from fossil fuels.

The move seemed to be a part of a larger step taken by Western nations to offset China’s dominance in the critical minerals sector and divert supply chains towards friendlier countries. It’s been about half a year since Ottawa’s surprise announcement, and the three Canadian miners who were impacted have now managed to fill the gaps left by the ban on Chinese capital.

West Africa: Macron’s Visit to Mongolia Was Focused On Ensuring France’s Uranium Supply – by Jan Van Der Made (Radio France International/All Africa.com – May 23, 2023)

May 24, 2023

https://allafrica.com/

Access to rare earth minerals and Russia’s war against Ukraine topped the agenda on French President Emmanuel Macron’s historic visit to Mongolia. But the joint declaration signed during the meeting also underlines France’s attempts to find an alternative uranium source for its nuclear reactors.

As it stands, France depends to a large extent on uranium sourced in West Africa. That supply chain, however, is under threat because of social and political unrest in the region. The 18-article joint declaration, which trumpets “strengthening political, economic, commercial and defence cooperation”, also notes that both countries will also cooperate in the energy sector.

OPINION: The Philippines should seek to bond with U.S. on metals – by Makoi Popioco (Nikkei Asia – May 24, 2023)

May 24, 2023

https://asia.nikkei.com/

While access to new bases and expanded military cooperation between the Philippines and the U.S. have grabbed headlines, an important economic component, namely collaboration on the processing of critical minerals and green mining, is emerging as another possible area of partnership.

Although details remain sketchy, potential “friendshoring” in this area by the U.S. could be pivotal to Manila’s efforts to expand its critical minerals sector. It could also provide an opportunity for the U.S. to show how it will operationalize President Joe Biden’s Indo-Pacific Economic Framework, which is widely perceived as lackluster so far.

OPINION: Mining companies need to look at new ways to reduce biodiversity impacts – by Tom Drabble (Benchmark Minerals.com – May 22, 2023)

May 23, 2023

https://source.benchmarkminerals.com/

Critical mineral deposits crucial to the clean energy transition can be found across the globe. As mining companies cannot control where geological deposits form, they are forced to tackle whatever challenges are present in the location of which they are found. One of the largest challenges within the environmental “E” of ESG is how to prevent biodiversity loss due to company operations.

It is crucial that biodiversity is considered and appropriately monitored at all stages, from acquisition through to mine closure and rehabilitation. Strategies for biodiversity management of a mine site should begin with an environmental impact assessment and mitigation strategies and targets set.

Australia Tries to Break Its Dependence on China for Lithium Mining – by Natasha Frost (New York Times – May 23, 2023)

May 23, 2023

https://www.nytimes.com/

Half of the world’s supply of the critical battery ingredient is mined in Australia, which ships virtually all of it to China. The government and business are betting they can change that.

Deep in rural Western Australia, Pilbara Minerals’ vast processing plant looms above the red dirt, quivering as tons of a lithium ore slurry move through its pipes.

The plant turns the ore from a nearby quarry into spodumene, a greenish crystalline powder that is about 6 percent lithium and sells for about $5,700 a ton. From there, the spodumene is shipped to China, where it is further refined so it can be used in the batteries that power goods like cellphones and electric cars.

Column: Lithium slump puts China’s spot price under the spotlight – by Andy Home (Reuters – May 19, 2023)

May 19, 2023

https://www.reuters.com/

LONDON, May 19 (Reuters) – High-flying lithium has come crashing back to earth. A super-charged two-year rally, which saw Chinese spot lithium carbonate prices rise by tenfold, went into brutal reverse over the first part of this year. The spot price slumped by 70% between November and its low point in April.

The battery metal was knocked off its heights by early-year weakness in China’s electric vehicle (EV) market, still by some margin the world’s largest. The temporary demand hit rippled back up through the Chinese battery chain, generating a collective destocking cycle and killing the spot market.

Top Stock Fund Wagers BHP, Rio Tinto Will Weather Iron-Ore Slump – by Georgina McKay (Bloomberg News – May 17, 2023)

May 19, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — A top equities fund manager is backing BHP Group Ltd. and Rio Tinto Ltd., betting they can withstand softer iron-ore prices and will benefit as China’s reopening boosts demand for the commodity.

Australian producers are attractive as they have relatively low operating costs and high exposure to the mainland, the world’s largest consumer of the steel-making ingredient, according to David Wilson, who oversees the equivalent of $5.3 billion at Australia-focused First Sentier Wholesale Geared Share Fund. The fund has returned 10% this year, beating more than 90% of its peers.

Report: EV battery making riddled with rights violations, environmental threats – by Subel Rai Bhandari (Radio Free Asia – May 16, 2023)

May 17, 2023

https://www.rfa.org/english/

Companies including Panasonic, Tesla, and Toyota should check their supply chain, rights group says.

Human rights violations and environmental abuses were found in two nickel supply chains in the Philippines and Indonesia, home to more than half of the world’s supplies. They provide batteries to companies including Panasonic, Tesla, and Toyota, said a report released Tuesday by a rights research group.

The lack of transparency in electric vehicle battery supply chains means end-user companies must be held responsible, as they can easily distance themselves from the lower-level abuses and avoid addressing associated risks, the London-based Business & Human Rights Resource Centre (BHRRC) said in its report “Powering Electric Vehicles.”

Future of Canada’s mining industry hangs on who gets U.S. subsidies, with nickel the ‘litmus test’ – by Gabriel Friedman (Financial Post – May 17, 2023)

May 17, 2023

https://financialpost.com/

Execs worry a quirk in the Inflation Reduction Act could allow nickel powerhouse Indonesia to qualify for tax incentives, making it almost impossible for North American companies to compete

Last month, Republican congressman Pete Stauber of Minnesota penned a pointed letter to United States Trade Representative Katherine Tai before she embarked on a trip to Asia.

“I write to express concern over recent comments by Indonesian government officials that the country is seeking to enter a limited free trade agreement with the U.S., to increase trade of critical minerals needed for EV batteries and other renewable technologies,” Stauber said in the letter, dated April 14.

South Korea, Canada agree to step up cooperation on critical minerals, security – by Hyonhee Shin and Ju-min Park (Reuters – May 17, 2023)

May 17, 2023

https://www.reuters.com/

SEOUL, May 17 (Reuters) – South Korean President Yoon Suk Yeol and Canadian Prime Minister Justin Trudeau agreed on Wednesday to enhance cooperation on critical minerals and continue joint efforts to fend off North Korea’s nuclear and missile threats.

Trudeau arrived in Seoul on Tuesday in the first visit in nine years by a Canadian leader as the two countries explore ways to expand security ties, while navigating a rivalry between the United States and China.

Indonesia’s EV dream crashing on a lack of lithium – by John McBeth (Asia Times – May 15, 2023)

May 15, 2023

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Indonesia importing a fraction of the lithium needed to crank up EV battery production with no clear new source in sight

JAKARTA – Delivering a speech on the sidelines of last year’s G20 Summit, President Joko Widodo pointed to lithium as the one crucial element Indonesia still needed to make electric vehicle (EV) batteries. Turning, he gestured towards Australian Prime Minister Anthony Albanese seated near him and observed: “That man has lithium.”

Nickel-rich Indonesia may be on the cusp of an EV battery revolution, but it still lacks a guaranteed supply of lithium for it to become a reality by 2025, the year Maritime Affairs and Investment Coordinating Minister Luhut Panjaitan has targeted for the first battery plant to go into operation.

Mysterious Killing of Chinese Gold Miners Puts New Pressure on Beijing – by Nicole Hong and Elian Peltier (New York Times – May 15, 2023)

May 15, 2023

https://www.nytimes.com/

The massacre of nine workers in the Central African Republic and other recent attacks raise questions about China’s ability to protect its citizens overseas.

The Chinese embassy in the Central African Republic had a stark warning for its compatriots in the landlocked nation: Do not leave the capital city of Bangui. Kidnappings of foreigners were on the rise, and any Chinese person outside of Bangui was to leave those areas immediately. Less than a week later, on March 19, a group of gunmen stormed a remote gold mine far away from Bangui and killed nine Chinese workers.

The Central African government has said that it investigated the massacre and concluded that a leading rebel group had orchestrated it. The rebels have denied the allegation and blamed a third party that operates in the country — Russia’s Wagner mercenary group, which has in turn accused the rebels. None of the sides has presented evidence for its claims.

To Meet EV Demand, Industry Turns to Technology Long Deemed Hazardous (Japan News/Washington Post – May 12, 2023)

May 12, 2023

https://japannews.yomiuri.co.jp/

OBIRA ISLAND, Indonesia – On a remote island close to where the Pacific meets the Indian Ocean sits one of the first refineries built specifically to support the world’s transition away from fossil fuels. Rocks unearthed here contain traces of nickel, a key ingredient in electric vehicle batteries. Extracting it, refining it and readying it for export is a gargantuan task.

More than $1 billion has been sunk into the processing facility, the first in Indonesia to use an acid-leaching technology to convert low-grade laterite nickel ore – which the country has in abundance – into a higher-grade material suitable for batteries. Foreign investors and lenders cite the project as evidence of their commitment to fighting climate change.

India’s industry minister invites Canadian miners to ‘join us’ in search for critical minerals – by Naimul Karim and Stephanie Hughes (Financial Post – May 11, 2023)

May 11, 2023

https://financialpost.com/

Piyush Goyal says India open to Canadian miners exploiting its lithium deposits

Indian Commerce and Industry Minister Piyush Goyal said the south Asian nation is open to Canadian miners exploiting the country’s lithium deposits, an indication that critical minerals could form the basis of a renewed commercial relationship between Canada and one of the fastest growing economies in the world.

“I would very much like Canadian mining companies to join us,” Goyal said at a press conference in Toronto while wrapping up a three-day visit to Canada on May 10. “Mining companies from Canada must visit India. We will make sure to send them into meetings both at the government level and also with mining companies in India … and see how we can expand our own mining system.”