Chromium/Platinum Group Metals – Page 18

Zimbabwe sets Tuesday deadline for chrome miner to cede half its claims (Reuters Africa – June 7, 2016)

June 7, 2016

http://af.reuters.com/

HARARE (Reuters) – Zimbabwe has set a Tuesday deadline for the country’s second largest ferrochrome producer Zimbabwe Alloys to hand over half its chrome claims or risk having them seized, according to a letter seen by Reuters.

The Southern African nation holds the world’s second largest deposits of chrome, which is smelted to produce ferrochrome, a raw material used in the making of stainless steel.

Zimbabwe’s mines minister last year asked Zimasco, a unit of China’s Sinosteel and Zimbabwe Alloys (ZimAlloys), which owned 80 percent of all chrome mining claims, to release some ground for distribution to new investors.

Sinosteel’s Zimasco said in April it had ceded half its mining claims to the government.

About the Ring’s chromite: Wanted — Smarts, determination and a Northern Ontario refinery – by Don Wallace (Thunder Bay Chronicle-Journal – June 4, 2016)

June 6, 2016

http://www.chroniclejournal.com/

As time passes and we approach the 10th anniversary of the discovery of the Ring of Fire, there still remains a void of information about the intentions of senior government. Rather than celebrating a bonanza, both levels of government seem to be avoiding critical decisions regarding what to do about some $60 billion worth of chromite lying deep in the wilderness of Northern Ontario.

The feds and Queen’s Park blame one another and the continued silence is exasperating and provokes one to ask why pay taxes for governance when it doesn’t exist? Chromite, or chromium oxide, is the only ore of chromium. It is mined, concentrated and then transformed by smelting into ferrochrome. Then it is added to molten iron (one part of ferrochrome to six parts of iron) to produce a hard, lustrous, corrosion-resistant metal known as stainless steel.

Given its rare distribution and limited supply, most experts feel that the high-grade Ring of Fire chromite deposit will, sooner or later, find room in the world market. However, to derive full value requires a complex multi-stage process managed by skilled and experienced people.

China willing to pay for rail into Ring of Fire – KWG – by Alan S. Hale (Timmins Daily Press – June 1, 2016)

June 1, 2016

http://www.timminspress.com/

TIMMINS – KWG Resources expects it will have a deal with the state-owned Bank of China to fund the entire cost of their proposed railway corridor to the Ring of Fire by the end of this year.

The company’s vice-president of development, Moe Lavigne, told The Daily Press negotiations are well underway that could see the project – which some estimates say could cost $1.5 billion – entirely paid for by the Chinese in exchange for a secure source of chromite to support their country’s stainless steel industry.

“China understands the totality of this project and is interested in getting guaranteed delivery of chromium for the next few decades, and they’re willing to put up some money to make that happen. And in this case, the Bank of China appears to be willing to finance the building of the railroad,” said Lavigne.

Amplats bid to buy peace around prized South African mine may backfire – by Ed Stoddard (Reuters U.K. – May 25, 2016)

May 25, 2016

http://uk.reuters.com/

MOKOPANE, SOUTH AFRICA – Anglo American Platinum’s bid to appease a community near its most profitable South African mine may unravel, highlighting the challenges of managing flashpoints of social unrest while trying to shore up its balance sheet.

The world’s largest open-pit platinum mine, Mogalakwena was shut for two weeks last year when residents of the surrounding shanty towns rioted, protesting against the government’s failure to provide services and the mine’s failure to provide jobs.

In April, Amplats announced a deal to set up a 175 million rand ($11 million) community trust for the local Mapela tribe to kick-start development and investment in neglected villages. The trust’s aim is “to improve the living conditions and quality of life of members of the Mapela Traditional Community”.

Chrome, ferrochrome output dipped in 2015 as sector went through difficult phase – by Ilan Solomons (MiningWeekly.com – May 20, 2016)

May 24, 2016

http://www.miningweekly.com/page/americas-home

Chrome ore and ferrochrome global output decreased marginally in 2015, which is a clear indication that the industry is going through a tough phase, with some major players facing financial difficulty.

This is according to International Chromium Development Association (ICDA)market research analyst Loïc Racon, who was addressing about 135 global delegates – along with several other presenters – at the ICDA’s 2016 members meeting which took place in Tirana, Albania, last month.

However, he noted that chrome ore and ferrochrome imports in China had increased in the past year. Natural resources consultancy Bryanston Resources project leader Roderick van Losenoord highlighted in his presentation that the US dollar “is [ continuing] and will” continue to be the driving currency for ferrochrome, as various restrictions prevent China’s yuan from taking over.

What the rise of electric vehicles means for lithium and PGMs – by Prinesha Naidoo (Mineweb.com – May 20, 2016)

May 20, 2016

http://www.mineweb.com/

Growing interest in electric vehicles is set to shake up the automotive industry and cause ripple effects across commodity markets. Lithium is set to skyrocket, oil is to crash and platinum group metals (PGMs) are said to be safe… for now.

Although the electric vehicle market is still in its infancy, tighter emissions regulations coupled with a research and development-driven decrease in production and sales costs are expected to support demand.

Data from EV-Volumes shows electric vehicle sales made up just 0.6% of global vehicle sales in 2015 – despite rising 70% year-on-year to nearly 540 000 vehicles. The total electric vehicle population grew to one million in September 2015. The International Energy Agency (IEA) expects 20 million electric vehicle to be on the road by 2020.

NEWS RELEASE: Ivanhoe Mines condemns promotion of false and dishonest claims by Mining Watch Canada

May 20, 2016

https://www.ivanhoemines.com/

JOHANNESBURG, SOUTH AFRICA – Ivanhoe Mines condemns in the strongest terms possible the attempt by Mining Watch Canada – and its dishonest associates in South Africa – to spread falsehoods about the Platreef mine development project in the South African province of Limpopo. The recycled and false allegations published by Mining Watch Canada yesterday are not new and previously have been rebutted by Ivanhoe Mines and its South African subsidiary, Ivanplats. However, it is important to restate Ivanhoe Mines’ position for the benefit of shareholders, the media and the public at large.

Ivanhoe Mines is disappointed, although not surprised, that Mining Watch Canada has chosen to act as a Canadian blinkered cheerleader for the falsehoods and misrepresentations that have been perpetuated, and violent acts that have been staged, by South African activist Aubrey Langa who previously has been convicted by South African courts of furnishing false information, robbery and attempted murder.

Mr. Langa is recognized for waging what one prominent South African newspaper recently described as his “single-minded campaign” against the Platreef mine currently being developed by Ivanplats in Limpopo province.

News Release: Is Ivanhoe Mining Informing its Shareholders of Ivanplats’ Real Risks, Liabilities, and Irregularities? (Mining Watch – May 18, 2016)

May 20, 2016

http://miningwatch.ca/news

(Ottawa) Ahead of Ivanhoe Mines’ annual shareholders’ meeting tomorrow in Vancouver, community representatives and activists are asking if shareholders are prepared to condone the human rights abuses and illegal operations that they allege the company is responsible for as it pushes ahead with development of its Ivanplats (Platreefs) project in South Africa.

Community representatives from Mokopane, Limpopo Province, assert that the government has unlawfully granted the Canadian company permits for the relocation of hundreds of ancestral graves in an area excluded from its designated mining area. The community has protested to the government and the Canadian High Commission against the violation of graves and the lack of enforcement of laws and customary rules protecting them.

Derrick Tsita, spokesperson for Mokopane Interested and Affected Communities Committee (MIACC) says, “The granting of these permits is a final insult to our human rights and our human dignity.”

Top Palladium Miner Rebuffs Risk of Tesla Electric Car Boom – by Yuliya Fedorinova (Bloomberg News – May 16, 2016)

May 16, 2016

http://www.bloomberg.com/

The rise of Tesla Motors Inc.’s electric cars won’t be enough to change the market for conventional vehicles or dent demand for the precious metals used to filter exhaust fumes, according to GMK Norilsk Nickel PJSC.

The lack of infrastructure to charge them and the pressure on power grids means that in the long term, the vehicles may comprise just 15 percent of the total auto market, according to Anton Berlin, head of analysis and market development for Norilsk. In the next five years, the market’s size will be limited to about 2 percent.

Norilsk is the world’s biggest producer of palladium, which are used along with platinum in catalytic converters that reduce car pollution. While the company would lose some business if electric cars, which don’t produce toxic emissions, becomes a significant part of the auto industry, it would benefit from more demand for nickel, which is used in the batteries.

Platinum Seen Over Worst as Bulls Wager on Automaker Demand – by Eddie Van Der Walt (Bloomberg News – May 16, 2016)

May 16, 2016

http://www.bloomberg.com/

There’s a growing feeling in the platinum and palladium market that the worst is over. After dropping to the lowest in at least half a decade in January, prices since rallied back into a bull market as the outlook for continued low U.S. interest rates reignited the appeal of precious metals.

The two commodities will climb about 20 percent through the end of next year, partly on higher demand from carmakers, according to 12 traders and analysts surveyed by Bloomberg.

The outlook for supply and demand will be key for miners to refiners at the industry’s annual gathering in London this week. Impala Platinum Holdings Ltd., the world’s second-biggest producer, has forecast deficits in the medium to long term as demand for materials used to curb harmful car emissions grows. Investors, who for months sold through funds, have started buying again.

Ivanhoe substantially lifts Platreef’s resources – by Henry Lazenby (MiningWeekly.com – May 11, 2016)

May 13, 2016

http://www.miningweekly.com/

TORONTO (miningweekly.com) – Africa-focused project developer Ivanhoe Mines has released an updated mineral resource estimate for its flagship Platreef platinum-group metals (PGMs) nickel, copper and gold project on South Africa’s Bushveld Complex’s northern limb, located near the town of Mokopane, in Limpopo.

The TSX-listed firm reported an increase of 58% in the compliant indicated mineral resources tonnage to 346-million tonnes, at a grade of 3.77 g/t platinum, palladium, rhodium plus gold (3PE+Au), 0.32% nickel and 0.16% copper, at a cutoff grade of 2 g/t 3PE+Au.

The updated mineral resource had also calculated an increase of 21% in the inferred mineral resources tonnage to 506-million tonnes, at a grade of 3.24 g/t 3PE+Au, 0.31% nickel and 0.16% copper, at a cutoff grade of 2.0 g/t 3PE+Au.

Mining needs better decision-making: North American Palladium president – by Lindsay Kelly (Northern Ontario Business – May 3, 2016)

May 5, 2016

http://www.northernontariobusiness.com/

Coming up through the mining industry, a mentor once shared these words of wisdom with Jim Gallagher: “Hope is not a management tool.” That resonated with Gallagher, now the president and CEO of North American Palladium (NAP), who spoke during the kickoff to Sudbury’s annual Modern Mining and Technology week on April 22.

To a large extent, he said, the mining industry has no one to blame but itself for failed projects because of the poor management, poor engineering, and poor decisions that have been made when trying to advance mines.

“I want to be proud of this industry, and you’ve got to stand up when we screw up and say, ‘We didn’t do enough engineering, we didn’t do enough drilling, and it wasn’t unexpected,’” he said. “It was unexpected because we went in there with hope.” Some of the most promising mines flounder, Gallagher said, because companies haven’t done sufficient legwork to prove up their projects, instead blaming their failures on things like “unexpected geological complexity,” a term he dislikes.

OUTOKUMPU OYJ PRESS RELEASE: Outokumpu sites in Finland recognized as prime example of circular economy (April 22, 2016)

April 25, 2016

Outokumpu’s ferrochrome and stainless steel production sites in Tornio, Finland, have worked systematically towards a zero-waste-to-landfill production system for decades. Outokumpu’s business is in fact based on recycled steel scrap as main raw material of the produced stainless steel.

The goal of circular economy is to put an end to waste through recycling and salvaging valuable materials from processes. In the 2015 Paris Climate Talks, the Kemi-Tornio area of Northern Finland was presented by research institute Nordregio as a prime example of an industrial region implementing the circular economy approach.

Today, the Tornio mill is able to commercialize a full 100% of slag side streams which can be sold to private companies and households or reutilized in Outokumpu’s own processes and construction projects.

Decline of major South African union rattles mining sector – by Paul Burkhardt and Mike Cohen (Independent Online – April 19, 2016)

April 19, 2016

http://www.iol.co.za/

Johannesburg – The decline of South Africa’s National Union of Mineworkers (NUM) is eroding one of the pillars of the post-apartheid economy and deepening woes plaguing the country’s biggest export industry.

Confronted with surging power costs and government pressure to increase their black shareholding, the contest among labour groups for members and support marks an unwelcome development for the companies that extract gold and platinum because it may make unions more militant and escalate wage demands.

“There’s no question that inter-union competition ups the ante,” Andrew Levy, the managing partner of Andrew Levy Employment who has advised companies on labour relations for more than 30 years, said by phone. “It’s a turf war.”