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.
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.
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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.
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.
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.
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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.
(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.
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.
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.
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.
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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.
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’.
(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.
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.
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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.
