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Cobalt, Critical, Strategic and Rare Earth Minerals and Metals

The true cost of critical minerals – by Emilie Cameron, Rosemary Collard & Jessica Dempsey (National Observer – May 2, 2024)

https://www.nationalobserver.com/

The 2024 federal budget bolsters Canada’s ambitions to be a global supplier of critical minerals. Corporate tax incentives and shorter environmental review periods have been added to an earlier commitment of $4 billion in support of mining copper, lithium and other minerals essential to green technologies like e-vehicles, solar panels and wind turbines.

Amid a global scramble to secure critical minerals supply chains, Canada is highlighting its environmentally sustainable approach to extraction, anchored in “respect for Indigenous and treaty rights.” What does all this look like on the ground?

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Demand for critical minerals drives massive changes in global economy – by Tobias Burns (The Hill – April 30, 2024)

https://thehill.com/

The race to beef up global supply chains for metals and minerals crucial to the ongoing energy transition is heating up. Companies are jockeying for position within shifting production networks and legislatures are advancing packages to pull mineral processing away from China, where the industry has been concentrated for decades.

At stake in the quest for mineral resources is everything from an international environmental ban on scraping the ocean floor to barbaric labor norms in developing countries, where mining operations have long been criticized by human rights groups.

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African nation threatens Apple with legal action over alleged “blood minerals” in its gadgets – by Sarah Carter (CBS News – April 29, 2024)

https://www.cbsnews.com/

Johannesburg — The government of the Democratic Republic of Congo has threatened U.S. tech giant Apple with legal action over what it says are “illegally exploited” minerals from the impoverished nation in its products. U.S. and French lawyers representing the DRC’s government sent a letter to Apple on April 22 warning the company it could face legal action if it continues with the alleged practice.

The letter accuses Apple of purchasing minerals smuggled out of the DRC into Rwanda, where their origin is allegedly obscured so they can find their way into the global technology supply chain. It makes clear that the DRC government intends to address the matter and is looking into legal options to do so.

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EU Policy. More than 70% of key resources imperilled by climate – report – by Marta Pacheco (Euro News – April 30, 2024)

https://www.euronews.com/

Global production of crucial raw materials may be at risk of disruption due to climate change and businesses need to find adaptation solutions in order to timely deliver clean technologies for the green transition. More than 70% of copper, cobalt and lithium, key critical raw materials needed for the clean energy transition driven by the EU, are at risk of facing supply disruption due to climate change, according to a new analysis.

Countries leading cobalt and lithium production — Australia, Chile, the Democratic Republic of Congo (DRC), and Peru — are experiencing a rise in drought, putting at risk 74% of cobalt and lithium production by 2050, a report by the multinational PricewaterhouseCoopers (PwC) published today (April 30) revealed.

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Australian Billionaire May Fuel Consolidation Of Wyoming Rare Earths Industry – by Pat Maio (Cowboy State Daily – April 30, 2024)

https://cowboystatedaily.com/

The richest woman in Australia, who is worth more than $30 billion, could be eyeing a move to buy a significant chunk of Wyoming’s rare earths deposits, and has even made a play in the related lithium field.

A consolidation of Wyoming’s rare earths strategic minerals industry might be right around the corner. While nobody’s saying anything for sure, regulatory filings across the globe seem to hint something may be brewing.

The rare earth minerals bonanza is the result of consumers starved for magnet metals integral to the green transition to electric vehicles, wind turbines, consumer goods, robots and military drones, missiles and chips needed for sophisticated computing power.

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Bombardier also granted exemption from Canadian sanctions on Russian titanium – by Steven Chase and Robert Fife (Globe and Mail – April 26, 2024)

https://www.theglobeandmail.com/

Aircraft manufacturer Bombardier Inc. says it too has been granted an exemption from Canadian sanctions targeting Russian titanium that could interfere with its business in Canada.

Based in Montreal, Bombardier is the second aerospace company to be identified as having obtained a waiver from Canadian sanctions targeting Russian titanium maker VSMPO-AVISMA Corp., one of the world’s largest producers of the rare metal. Airbus was the first.

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Five Eyes countries working to fight critical minerals dumping, Canada minister says – by Divya Rajagopal (Reuters – April 23, 2024)

https://www.reuters.com/

TORONTO, April 23 (Reuters) – Canada and its Five Eyes Alliance partners are working on put forward a response to tackle the price manipulation of critical metals, Canada’s Finance Minister Chrystia Freeland said on Tuesday.

The U.S., Britain, Canada, Australia and New Zealand have what is called the Five Eyes intelligence sharing network and the finance ministers from these countries met last Thursday for the spring session of the International Monetary Fund (IMF) in Washington.

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Canada and allies considering trade measures against China and Indonesia over manipulation of nickel market, Freeland says – by Niall McGee (Globe and Mail – April 24, 2024)

https://www.theglobeandmail.com/

Deputy Prime Minister Chrystia Freeland says Canada and its allies are weighing taking trade action against China and Indonesia in the nickel market, as the two Asian countries tighten their collective grip in the critical mineral.

Indonesia has gone from supplying 7 per cent of the global output of nickel to 55 per cent in the past decade, with much of that new production controlled by China-based mining companies with ties to the authoritarian Beijing government.

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Biden set to block Ambler mining road in Alaska wilderness – by Adam Federman (Politico.com – April 16, 2024)

https://www.politico.com/

The move to preserve the preserve the pristine wilderness has been sought by Alaskan tribes, but would keep the critical minerals in the region from being mined.

The Biden administration is preparing to reject a controversial road-building project needed to mine major copper and zinc deposits in the remote Alaska wilderness, a move sought by native tribes, but one that would keep critical minerals essential for the U.S. clean energy transition out of reach.

In a final environmental analysis due out later this week, the Interior Department is expected to issue a recommendation that would effectively kill the Ambler Road project in its current form, according to two people with knowledge on the decision who were granted anonymity because it was not yet public. A document explaining the administration’s stance is due 90 days after publication of the environmental impact statement.

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New Sanctions on Russia to Drive Even More Metals Sales to China – by Alfred Cang (Bloomberg News – April 15, 2024)

https://www.bnnbloomberg.ca/

US and UK sanctions on Russian metals will cement China as Moscow’s buyer of last resort for key commodities, and enhance Shanghai’s role as a venue to set prices for materials crucial to the global economy.

The London Metal Exchange’s ban on newly produced Russian aluminum, copper and nickel is likely to drive Chinese imports even higher. It also leaves the Shanghai Futures Exchange as the only major commodities bourse in the world to accept Russian shipments of the three metals.

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Southeast Asia’s potential in critical minerals – by Han Phoumin (Australian Strategic Policy Institute – April 15, 2024)

https://www.aspistrategist.org.au/

Global critical mineral demand is expected to increase dramatically in coming decades, from a 7.1 million tonnes in 2020 to 42.3 million tonnes in 2050. Global commitments to decarbonisation are the main drivers of this growth, because clean-energy technologies depend on large quantities of critical minerals. But all manner of sophisticated industries, including defence manufacturing, will also compete for these materials.

Secure and reliable critical mineral supply chains will be vital for energy transition. The supply chains are the secret to scaling up installation of wind turbines, advanced batteries, electrolysers and clean-energy grids.

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Japan, U.S., Philippines to strengthen nickel supply chains – by Takeru Tsuzuki and Hiroyuki Tanaka (Asia News Network – April 15, 2024)

 Asia News Network – Bringing Asia Closer

The three countries will accelerate the creation of a supply chain that is not overly dependent on China to bolster their economic security, with the Philippines being the world’s second-largest producer of nickel ore.

WASHINGTON – Japan, the United States and the Philippines agreed to forge ties to strengthen supply chains of nickel — a critical mineral essential for the batteries used in electric vehicles — at a trilateral summit at the White House on Thursday.

The Philippines is the world’s second-largest producer of nickel ore, and China is the second-largest producer of refined nickel. The three countries will accelerate the creation of a supply chain that is not overly dependent on China to bolster their economic security.

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Green Rush panel: Is there willingness to pay a premium for responsibly sourced minerals? (Kitco.com – April 9, 2024)

https://www.kitco.com/

(Kitco News) – Environmental, social, governance (ESG) initiatives are further delaying mining projects while critical metals are in high demand, creating tension within the mining industry, says Matt Watson, founder of Precious Metals Commodity Management LLC.

The other problem is that metals necessary for the green transition are difficult to process, namely nickel, cobalt and rare earths. On April 3, Watson recorded an episode of Green Rush with guests James Gavilan, principal of Gavilan Commodities, and Lyle Trytten, president of Trytten Consulting Services. The subject was ESG in the context of scaling responsibly mined minerals.

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US, EU Are Set to Miss Critical Minerals Agreement This Week – by Alberto Nardelli, Jorge Valero and Eric Martin (Bloomberg News/MSN.com – April 3, 2024)

https://www.msn.com/

(Bloomberg) — A US and European Union push to reach an accord on fostering critical mineral supply chains is set to miss another target this week, according to people familiar with the discussions.

The final draft statement for a high-level trade and technology meeting in Leuven, Belgium, on Thursday falls short of a deal, instead it says the transatlantic allies “are advancing negotiations toward a critical minerals agreement,” according to a document seen by Bloomberg. An earlier version of the statement left open the door to an “agreement in principle.”

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Proponents see northern Ontario’s Ring of Fire opposition melting like ice roads – Colin McCelland (Northern Miner – April 4, 2024)

https://www.northernminer.com/

Construction timelines remain fuzzy but proponents are still optimistic two and half years into studying roads to serve the Ring of Fire critical minerals region in northern Ontario.

Three all-season roads totalling 362 km are planned for the area 540 km northeast of Thunder Bay. The main highway would start at the end of a forestry road north of Aroland First Nation and the village of Nakina and head to the Ring of Fire. One branch would run to the Marten Falls First Nation to the east while another would connect to the Webequie First Nation to the west.

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