What the energy transition may bring for five battery metals – report – by Valentina Ruiz Leotaud (Northern Miner – October 18, 2021)

Global mining news

ING Economics has published a new report in which its experts predict what the energy transition might bring for five key metals: copper, aluminum, nickel, cobalt, and lithium.

Taking into consideration where different regions of the world stand when it comes to moving towards a low-carbon future where global warming is limited to 2 degrees Celsius, ING’s analysts developed three scenarios that they used as a background to assess the possible performance of battery metals.

Read more

Global shortage of magnesium to cripple car industry – by Cecilla Jamasmie (Mining.com – October 19, 2021)

https://www.mining.com/

The world’s top automakers face disruption from tight global supplies of magnesium, as China’s power crisis threatens availability of the key component used to make aluminum, Germany’s association of metals producers WVM said on Tuesday.

European magnesium stocks have been particularly affected by the lack of supplies from China, which has a near monopoly on the magnesium market, the association said in a letter to the German government. The worst part of this shortage is about to come, it noted.

Read more

Ring of Fire operator Noront warms to Wyloo takeover bid, but BHP looms – by Niall McGee (Globe and Mail – October 19, 2021)

https://www.theglobeandmail.com/

Noront Resources Ltd. has agreed to a $391-million takeover from Australian private equity firm Wyloo Metals Pty Ltd., trumping an earlier bid from global giant BHP Group Ltd., but the minerals development company in Ontario’s Ring of Fire region is leaving the door open to a higher offer.

Backed by Australian billionaire Andrew Forrest, Wyloo first proposed buying Toronto-based Noront in May for 31.5 cents a share. Melbourne-based BHP, the world’s biggest mining company, upped the ante with a 55-cents-a-share bid in July, and Noront’s board supported it. But Wyloo came back in late August, offering 70 cents a share.

Read more

CMJ Reimagine Mining event hears from Kirkland Lake CEO Tony Makuch on Agnico merger, electrification – by Staff (Canadian Mining Journal – October 13, 2021)

https://canadianminingjournal.com/

Canadian Mining Journal held its first Reimagine Mining Suppliers Symposium on Wednesday in partnership with Costmine, welcoming president and CEO of Kirkland Lake Gold (TSX: KL; NYSE: KL), Tony Makuch, as its keynote speaker.

Kirkland Lake is in the midst of one of the Canadian gold sector’s most important mergers in recent memory with Agnico Eagle Mines (TSX: AEM; NYSE: AEM), with Makuch soon to be CEO of the new Agnico Eagle.

Read more

Chile to open 400,000 tonnes of lithium reserves up for exploration – by Cecilia Jamasmie (Mining.com – October 14, 2021)

https://www.mining.com/

Chile will open a tender for the exploration and production of 400,000 tonnes of lithium in an effort to reclaim market share and meet growing demand for the metal used in electric vehicles and high-tech devices.

The copper-producing nation, which holds the world’s largest known lithium reserves, said is preparing bidding rules available to local and foreign firms for five quotas of 80,000 tonnes each.

Read more

Inside the Indigenous-led power line deal that put 17 First Nations on the grid – by Wendy Stueck (Globe and Mail – October 14, 2021)

https://www.theglobeandmail.com/

By the time Wataynikaneyap Power announced, in October, 2019, that it had locked in financing to start building an 1,800-kilometre transmission line to connect 17 First Nations communities to the Ontario power grid, Margaret Kenequanash had earned a chance to catch her breath.

A member of the North Caribou Lake First Nation, Ms. Kenequanash had been pursuing the transmission project for more than a decade, first as a community leader and, since 2017, as Wataynikaneyap’s chief executive officer.

Read more

‘This is a game-changer for gold’: Shift in Fed’s rate hike expectations take gold price towards $1,800 – by Anna Golubova (Kitco News – October 13, 2021)

https://www.kitco.com/

(Kitco News) The new U.S. inflation data release has triggered a rollercoaster ride in gold, with the latest move taking the precious metal nearly $40 higher on the day.

September’s inflation numbers showed price pressures accelerating to 5.4% annually, slightly more than the market was expecting. “We are starting to see the market growing nervous about the U.S. consumer. After digesting this report, it shows that the market is now anticipating sooner rate hikes.

Read more

This energy crisis has been 30 years in the making. Why is anyone surprised? – by Rex Murphy (National Post – October 13, 2021)

https://nationalpost.com/

The inevitable collision between 30 years of global warming hyper activism — the howling demonization of available, proven energy resources — and reality, is upon us.

There is an atmosphere of semi-panic as many of the countries most committed to “getting off” oil and gas and turning their economies over to wind and sun find winter approaching and they, environmentally virtuous as they are, are wondering if they have enough oil and gas and even coal to get through it.

Read more

Tesla inks multi-year nickel supply deal with Prony Resources – by Cecilia Jamasmie (Mining.com – October 13, 2021)

https://www.mining.com/

Electric vehicle giant Tesla (NASDAQ: TSLA) has inked a multi-year nickel supply deal with New Caledonia’s Prony Resources, which guarantees the US carmaker about 42,000 tonnes of the metal needed to produce the batteries that power its EVs.

Prony, which bought the loss-making nickel and cobalt operations in the French territory from Vale (NYSE: VALE) earlier this year, said it’s targeting production of 44,000 tonnes of nickel by 2024. That’s about double the expected 2021 output.

Read more

US coal use is rebounding under Biden like it never did with Trump – by Will Wade (Bloomberg News – October 12, 2021)

https://www.bnnbloomberg.ca/

Donald Trump vowed to revive the coal industry, but it’s President Joe Biden who’s seeing a big comeback of the dirtiest fossil fuel. U.S. power plants are on track to burn 23% more coal this year, the first increase since 2013, despite Biden’s ambitious plan to eliminate carbon emissions from the power grid.

The rebound comes after consumption by utilities plunged 36% under Trump, who slashed environmental regulations in an unsuccessful effort to boost the fuel.

Read more

China’s Zijin Mining acquisition of Neo Lithium will likely trigger full national security review, expert predicts – by Niall McGee (Octobewr 13, 2021)

https://www.theglobeandmail.com/

Canada’s Neo Lithium Corp. has agreed to a $960-million acquisition by Chinese state-owned Zijin Mining Group Co. Ltd., a deal one security expert predicts will trigger an in-depth national security review by Ottawa.

Toronto-based Neo Lithium is developing a lithium mine in Argentina and hopes to eventually supply the silvery white metal to the electric vehicle industry. A 2019 prefeasibility study predicts the company’s 3Q mine could generate a 50-per-cent return on investment after it goes into production.

Read more

How Vladimir Putin became the most important man in global energy markets – by Yadullah Hussain (Financial Post – October 13, 2021)

https://financialpost.com/

As Europe and Asia scramble for natural oil and natural gas and energy prices spiral out of control, Vladimir Putin is likely plotting his next geopolitical chess move.

Last week, the Russian president chided European governments for not securing long-term natural gas contracts that would have favoured his country’s producers such as Gazprom PJSC, calling the EU’s reliance on spot prices a ‘mistake’.

Read more

Lithium Deal Shows China’s Accelerating Race for Battery Metals – by Yvonne Yue Li (Bloomberg News – October 11, 2021)

https://www.bnnbloomberg.ca/

(Bloomberg) — Lithium has gotten so hot that even China’s gold miners want a slice of the market, sky high valuations and all. Zijin Mining Group Co., a major Chinese gold and copper producer, announced on Friday its first foray into the booming lithium sector with its C$960 million ($770 million) purchase of Neo Lithium Corp.

It’s just the latest in a series of recent acquisitions, mostly involving Chinese bidders for South American assets owned by Canadian firms, amid surging demand for the key ingredient used to power electric vehicles.

Read more

Ivanhoe keeps DRC copper mine expansion ahead of schedule – by Cecilia Jamasmie (Mining.com – October 12, 2021)

https://www.mining.com/

Canada’s Ivanhoe Mines (TSX: IVN) said on Tuesday that expansion of its Kamoa-Kakula mine in Democratic Republic of Congo, the biggest copper operation to come online in decades, is ahead of scheduled, with full production now expected in the second quarter next year.

Construction of the mine Phase 2’s concentrator plant was originally expected to finish in the summer of 2022, the company said. The 3.8 million-tonne-per-annum (Mtpa) facility, a “carbon copy” of the Phase 1 plant, has been designed to double production to about 400,000 tonnes of copper a year.

Read more

OPINION: There is no quick fix for Europe’s self-manufactured energy crisis – by Eric Reguly (Globe and Mail – October 9, 2021)

https://www.theglobeandmail.com/

Suppose you were told 10 years ago that you had 10 years to replace your soot-spewing diesel car. You did not. Now, you’ve missed the deadline and have no right to be surprised by your sudden lack of four-wheeled transportation – you had ample time to buy a hybrid or electric car.

So it is with Europe. A bit more than a decade ago, a concerted effort was launched within the European Union countries and a few others on the continent to phase out their coal-fired generating plants to clean the skies and slow the pace of global warming.

Read more