Twitter

Asia Mining

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:

Read more

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.

Read more

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.

Read more

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.

Read more

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.

Read more

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.

Read more

Tiny But Vital Metal Markets Rush to Adjust to Chinese Clampdown (Bloomberg News – December 21, 2024)

https://www.bnnbloomberg.ca/

Chinese curbs on exports of three niche metals to the US have already rattled the market. Now, a bigger clampdown looks set to have far-reaching ramifications for supply chains feeding American defense and chip-making industries.

Beijing this month slapped a ban on US-bound exports of gallium, germanium and antimony in a tit-for-tat move in a technology trade war. The metals are important because they have crucial uses in many Western industries from military tech to semiconductors to satellites.

Read more

Column: Critical metals will be a key battleground in US-China trade war – by Andy Home (Reuters – December 17, 2024)

https://www.reuters.com/

It’s clear that critical minerals will be China’s weapon of choice in its escalating trade war with the United States. Every time Washington imposes new restrictions on exports of advanced semiconductor chips to China, Beijing responds by tightening controls on exports of the critical inputs for chip manufacturers.

A third clamp-down on China’s semiconductor industry has drawn a swift response in the form of a full ban on exports of Chinese gallium and germanium to the United States. Exports of antimony, used in photovoltaic glass, are now also banned in what looks like a riposte to US tariffs on Chinese solar panels.

Read more

China has ‘weaponized’ global critical mineral supply chain, US miners group says – by Henry Lazenby (Northern Miner – December 4, 2024)

https://www.northernminer.com/

China’s ban on U.S.-bound critical mineral exports is “mineral extortion,” Washington D.C.-based National Mining Association (NMA) president Rich Nolan said on Wednesday. The export ban announced a day earlier targets gallium, germanium, antimony and graphite. These minerals are needed for semiconductors, 5G phone tech, defence systems and electric vehicle batteries. Antimony is found in bullets. Nolan described the export ban as a calculated bid for geopolitical leverage.

“China has weaponized the world’s mineral supply chains,” he said in an emailed statement. “We must confront Chinese mineral extortion and recognize that U.S. mining policy is the foundation of our nation’s economic, energy and national security.”

Read more

Rattled by China, West scrambles to rejig critical minerals supply chains – by Amy Lv, Divya Rajagopal and Ernest Scheyder (Reuters – December 6, 2024)

https://www.reuters.com/

BEIJING/TORONTO/LONDON (Reuters) – China’s trade restrictions on strategic minerals are starting to hit Western companies where it hurts.

Blaming Beijing’s curbs on antimony exports announced in August, German chemicals and consumer goods heavyweight Henkel told customers last month it had declared force majeure and suspended deliveries of four types of adhesives and lubricants widely used by automakers, according to a Nov. 8 letter to clients reviewed by Reuters.

Read more

China bans exports to US of gallium, germanium, antimony in response to chip sanctions – by Elaine Kurtenbach (Associated Press – December 3, 2024)

https://apnews.com/

BANGKOK (AP) — China announced Tuesday it is banning exports to the United States of gallium, germanium, antimony and other key high-tech materials with potential military applications, as a general principle, lashing back at U.S. limits on semiconductor-related exports.

The Chinese Commerce Ministry announced the move after the Washington expanded its list of Chinese companies subject to export controls on computer chip-making equipment, software and high-bandwidth memory chips. Such chips are needed for advanced applications.

Read more

Indonesia Curbing Nickel Supply to Support Locals, Eramet Says – by Eddie Spence (Bloomberg News – November 21, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Indonesia is squeezing supplies of nickel ore to protect smaller local miners as the market for the battery metal endures a prolonged slump, according to Eramet SA.

The French miner, which operates the world’s largest nickel mine in Indonesia’s North Maluku province, was this year given a sales quota by the Asian nation that was 29% less than it expected, causing its share price to plunge in October.

Read more

Gold Prices Rise After $82 Billion Discovery In China—New Record High Ahead? – by Giuseppe Ciccomascolo (CCN.com – November 22, 2024)

https://www.ccn.com/

China’s recent discovery of massive gold reserves in Hunan province has sent shockwaves through the global market, propelling gold prices to new heights. However, the long-term trajectory of gold prices remains uncertain, influenced by a complex interplay of factors such as interest rates, inflation, and geopolitical risks.

While some analysts predict a bullish future for gold, others caution against overly optimistic forecasts due to the inherent volatility of commodity markets. China has discovered gold reserves valued at 600 billion yuan – equal to $82.9 billion – in central Hunan province. As the world’s largest gold producer, China accounts for approximately 10% of global output in 2023, based on data from the World Gold Council.

Read more

Indonesia’s Small Islands Pay the Price for Nickel Mining – by Firdaus Cahyadi (China Global South Project – November 11, 2024)

https://chinaglobalsouth.com/

The push for electric vehicles (EVs) promises a cleaner future, but the production of their batteries comes at a steep cost to Indonesia’s small islands. Nickel, a critical component in many EV batteries, has spurred mining activities that devastate local ecosystems and communities.

Nickel batteries—particularly Nickel Cobalt Manganese (NCM)—dominate the EV market, accounting for 60% of market share, according to the Global EV Outlook 2023. While alternatives like Lithium Ferro Phosphate (LFP) are gaining traction, the demand for nickel remains robust. In July 2024, global EV sales increased by 21% compared to the previous year, with Chinese-made vehicles leading at 800,000 units sold.

Read more

US judge narrows investor lawsuit against Rio Tinto over Mongolian mine – by Jonathan Stempel (Reuters – November 7, 2024)

https://www.reuters.com/

NEW YORK, Nov 7 (Reuters) – A U.S. judge on Thursday dismissed some claims in a lawsuit accusing Rio Tinto and its former CEO Jean-Sebastien Jacques of defrauding investors by concealing problems developing the $5.3 billion Oyu Tolgoi copper and gold mine in Mongolia.

U.S. District Judge Lewis Liman in Manhattan addressed recently added claims that Rio Tinto knowingly concealed how it would miss a deadline for “draw bell” blasting, a key milestone, while Jacques hid delays and associated cost overruns.

Read more