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Asia Mining

China hits back at US tariffs with mineral export curbs – by Cecilia Jamasmie (Mining.com – February 4, 2025)

https://www.mining.com/

China unveiled a series of retaliatory measures against the United States on Tuesday, including restrictions on the export of five critical metals used in defence, clean energy, and other industries. The move comes in response to President Trump’s announcement on Friday of a blanket 10% additional tariff on Chinese imports.

Beijing’s new export controls target tungsten, tellurium, bismuth, indium, and molybdenum, stating that export licenses will only be granted to companies complying with “relevant regulations.” However, the Chinese government has not provided details about the specific criteria for compliance.

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Tungsten supply crisis threatens defense and tech industries (The Oregon Group – February 04, 2025)

https://theoregongroup.substack.com/

China announces new export controls on tungsten, critical to modern technology

China has announced new export controls on 25 rare metals, including tungsten, in retaliation to a new 10% tariff by Trump on all US imports from China. The problem: China dominates global tungsten supply — accounting for more than 80% of the world’s mining and processing in 2023, as well as 58% of the world’s reserves at 2.3 million metric tons.

However, China’s dominance is increasingly seen as a strategic vulnerability by the US, EU and Japan amid escalating geopolitical tensions.

What is tungsten

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Chinese investors control 75% of Indonesia nickel refining capacity: report – by Frederic Tomesco (Northern Miner – February 5, 2025)

https://www.northernminer.com/

Chinese investors have managed to gain control over most nickel refining capacity in Indonesia, the world’s biggest producer of the mineral – a dominance that may give China a greater say over future prices while crowding out rivals, a new report suggests.

Chinese companies or shareholders ultimately control at least three-quarters of Indonesia’s nickel refining capacity, though the holdings are hidden behind “layers of shell companies” to mask foreign ownership, according to an analysis prepared by the Washington-based Center for Advanced Defence Studies.

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Indonesia’s nickel sector faces headwinds from Trump’s electric vehicle curbs – by Amy Sood (South China Morning Post – February 5, 2025)

https://www.scmp.com/

US President Donald Trump’s decision to revoke electric vehicle incentives has raised concerns over its impact on Indonesia’s vital nickel sector and China’s dominance widening in the Southeast country’s EV supply chain.

Trump targeted EVs immediately after he was sworn in on January 20, annulling a 2021 executive order by former president Joe Biden that called for half of all new vehicles sold in the United States to be electric by 2030.

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Chinese gold demand looks to rebound as UK-U.S. flows continue, silver demand from solar may be peaking – Heraeus – by Ernest Hoffman (Kitco News – February 3, 2025)

https://www.kitco.com/

(Kitco News) – Gold demand in China is showing signs of a strong rebound even as physical flows from the UK to the U.S. continue, while there are indications that solar demand for silver may be peaking, according to precious metals analysts at Heraeus.

In their latest precious metals update, the analysts noted that Chinese wholesalers appear to be anticipating a rise in consumer demand for gold. “Shanghai Gold Exchange (SGE) withdrawals, a key indicator of wholesale and fabrication demand, typically rise in December and January as fabricators stock up for the Chinese New Year, which fell on 29 January this year,” they noted. “Consumer demand tends to also adhere to similar seasonality.

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Cash-keen Taliban betting on Afghanistan’s mines – by AFP/RSS (Republica.com – February 2, 2025

https://myrepublica.nagariknetwork.com/

Emeralds, rubies, marble, gold and lithium: the resources buried across Afghanistan’s rocky landscape are estimated to be worth a trillion dollars, according to US and UN assessments from 2010 and 2013.

GOSHTA, Feb 2: A miner in the mountains of eastern Afghanistan poured water over a block of jade, exposing the green stone that is part of the Taliban authorities’ push to capitalise on the country’s rich mineral resources.

Touting the return of security, the Taliban government is rushing to court local and foreign investors to exploit the country’s underground wealth and secure a crucial revenue stream — though experts warn of the risks of cutting corners.

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Indonesia, home to the world’s largest nickel reserves, struggles to achieve its EV dreams – by Michelle Anindya (Rest of World.org – February 3, 2025)

https://restofworld.org/

China’s growing involvement and the rapid shift to lithium batteries dissuade investors.

Karawang county, located about 90 minutes by road from Jakarta, has been a major automotive hub in Indonesia for decades, housing factories of companies like Yamaha and Toyota. Last July, the industrial area added another feather to its cap when Southeast Asia’s first electric vehicle battery factory was unveiled there.

Established as a joint venture between Hyundai Motor, LG Energy, and the state-owned Indonesia Battery Corporation, the factory has the annual capacity to make battery cells sufficient to power 150,000 EVs. The factory marked a key step in Indonesia’s ambition to become a hub of EV manufacturing in the region, and one of the world leaders in EV battery production by 2027.

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Experts and advocates warn of nickel mining’s risk to precious marine region of Indonesia – by Victoria Milko (Associated Press – January 31, 2025)

https://apnews.com/

JAKARTA, Indonesia (AP) — One of Earth’s most biodiverse marine regions is threatened by the expansion of nickel mining projects in Indonesia, according to a new report.

Satellite analysis and on-the-ground visits found a rapid increase in land given over to mining pits in Raja Ampat Regency, a group of tropical islands near West Papua, according to the report from Auriga Nusantara, an environmental and conservation organization in Indonesia.

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China funnelled $57 billion to control critical mineral supply chain – by Cecilia Jamasmie (Mining.com – January 29, 2025)

https://www.mining.com/

China has systematically extended its control over critical minerals essential for the global energy transition and net-zero emissions, using a network of at least 26 state-backed financial institutions over the past two decades, a new report shows.

The database, compiled by AidData at the College of William & Mary in the United States, reveals how Beijing has leveraged an intricate web of financial mechanisms to dominate the global supply chain for critical minerals. These minerals — including copper, cobalt, nickel, lithium and rare earth elements — are vital for emerging technologies such as electric vehicle batteries and solar panels.

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Saudi Arabia of lithium: The future of mining in Afghanistan and Pakistan – by Gordon Feller (Canadian Mining Journal – December 19, 2024)

https://www.canadianminingjournal.com/

Afghanistan and Pakistan possess significant mineral resources that have attracted China’s interest. This fact has shaped what China does to grow its broader economic and geopolitical strategy in the region. This article provides a short survey, for both countries, of the mineral deposits, current mining production, and China’s efforts to increase its influence.

Afghanistan’s mineral resources

Afghanistan is estimated to have mineral deposits worth up to US$1 trillion, including vast reserves of copper, iron, gold, lithium, and rare earth elements. Some of the key mineral resources include the following:

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Trump’s EV Policy Reversal Threatens Indonesia’s Nickel Industry and Green Energy Transition (Jakarta Globe – January 28, 2025)

https://jakartaglobe.id/

Jakarta. A recent executive order by US President Donald Trump rolling back electric vehicle (EV) mandates is likely to disrupt Indonesia’s burgeoning EV ecosystem, according to the Center of Economic and Law Studies (Celios). The policy could significantly impact demand for critical minerals, foreign investment, and global financing for green energy projects, while strengthening China’s grip on Indonesia’s nickel downstream industry.

Bhima Yudhistira, Executive Director of Celios, said reduced global demand for EV batteries could pressure prices for commodities such as nickel, copper, and bauxite—key components in EV manufacturing.

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US versus China: the battle for rare earth dominance – by Qamar Bashir (Business Recorder – January 24, 2025)

https://www.brecorder.com/

During Scott Bessent’s confirmation hearing for US Treasury Secretary before the Senate Finance Committee, significant concerns were raised regarding China’s dominance in the rare earth elements (REEs) market.

The Committee underscored that China controls approximately 70 percent of global rare earth mining and nearly 90 percent of refining capacity, a near-monopoly that grants Beijing substantial influence over these critical materials. This dominance poses severe risks to US national security, economic stability, and technological independence, given that REEs are essential for industrial, technological, and military applications.

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Column: Only Indonesia can help nickel recover from price bust – by Andy Home (Reuters – January 22, 2025)

https://www.reuters.com/

Nickel ended 2024 trading at four-year lows, a spectacular reversal of fortune for a metal that soared so high in 2022 it almost broke the London Metal Exchange (LME). There is no mystery to this dramatic tale of boom and bust.

Indonesia has flooded the world with more metal than it can absorb, crushing the price and leaving a trail of casualties among the rest of the world’s producers. The market’s fortunes this year depend on whether Jakarta can tame the excesses of its nickel sector and align supply more closely with demand.

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The China commodities super-cycle is over. Will there be another boom? – by Leslie Hook, Joe Leahy and Wenjie Ding (Australian Financial Review – January 16, 2025)

https://www.afr.com/

China’s massive industrialisation and urbanisation drove a huge commodities boom that has run its course, but some executives are hopeful it will be replaced.

Waking from a nap at his desk, Xiao, a steel trader from Wuhan in central China, reflects on how, at the end of one of the greatest booms in recent economic history, he is a lucky survivor.

About half of his competitors in this gritty office park, built near the site of China’s first ironworks, have gone bust during the country’s three-year-long property crisis. The park itself is overshadowed by the enormous concrete skeleton of an unfinished real estate project.

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Cameco ‘disappointed and surprised’ by sudden suspension of its Kazakhstan mine – by Gabriel Friedman (Financial Post – January 03, 2025)

https://financialpost.com/

The mine was expected to contribute 4% of global uranium production this year

Cameco Corp. kicked off the new year with a surprise for its investors: Its joint-venture mine in Kazakhstan suspended production without warning. “We are disappointed and surprised by this unexpected suspension and we will be seeking further clarification on how this transpired,” Cameco said in a press release on Thursday.

The Saskatoon-based company owns 40 per cent of the mine through Inkai LLP; Kazatomprom JSC, the national atomic company of Kazakhstan, owns the other 60 per cent.

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