Cobalt, Critical, Strategic and Rare Earth Minerals and Metals – Page 66

Medallion considering US, Canada for rare-earth plant – by Mariaan Webb (MiningWeekly.com – July 9, 2019)

July 10, 2019

https://www.miningweekly.com/

TSX-V-listed junior Medallion Resources, which is pursuing production of magnet metals, believes the time is right to start selecting potential sites for a rare-earth plant as part of a strategy to rebuild a North American rare earth value chain.

The company is seeking third-party proposals to advance the development of a North American extraction plant, with one proposal calling for the evaluation of logistics and plant sitting operations in the US and Canada, while the other calls for the development of the process engineering design for Medallion’s rare-earth flowsheet.

Rare earths have been front and centre in recent months, as a result of the trade friction between China and the US. These metals are also increasingly important to the electrification of transportation, particularly electric vehicles.

San Bernardino Co. Mine May Represent America’s Best Chance to Loosen China’s Grip on Rare Earths (KTLA.com/CNN Wire – July 3, 2019)

July 4, 2019

https://ktla.com/

Less than an hour from the glitzy casinos and high-rise hotels of Las Vegas, the miners at Mountain Pass are reviving an industry that nearly disappeared from American soil. This is the only mine in the country devoted to rare earths, elements essential to modern electronics. Rare earths are contained in everything from iPhones to wind turbines to Teslas.

“If there’s going to be an American rare earths industry, it’s gonna be led by us. We’re it,” said James Litinksy, the co-chairman of MP Materials, which owns the mine in Mountain Pass, California.

Shuttered after the previous owner went bankrupt in 2015, MP Materials has spent two years rebuilding the Mountain Pass operation. Two hundred people now work at the mine site, carrying out blasts, trucking the minerals out of the mine and milling them into a powdered concentrate that is packed into dozens of white bags on site.

Armed Forces Called to Defend Glencore Mine in Congo – by William Clowes and Tiago Ramos Alfaro (Bloomberg News – July 4, 2019)

July 4, 2019

https://www.bloomberg.com/

Glencore Plc said armed forces of the Democratic Republic of Congo are in the area around the operations of its Kamoto Copper Co., after dozens of illegal miners were killed in a landslide last week.

“We prioritize the safety and security of our workforce and host communities,” Glencore said in a statement on Thursday. “KCC will continue to engage with all the relevant stakeholders to collaborate on identifying and implementing a long-term, sustainable solution to illegal mining in the DRC.”

Illegal miners will be removed from the site of the Glencore project where at least 43 died last week, Interior Minister Basile Olongo said on Saturday. Glencore estimates that 2,000 unauthorized people enter its open-pit mine on average every day.

Japan’s JX Nippon Mining seeks pot of gold in high-tech chips, batteries – by Yuka Obayashi (Reuters Canada – July 3, 2019)

July 3, 2019

https://ca.reuters.com/

TOKYO(Reuters) – The mining and smelting unit of giant Japanese energy-to-metals company JXTG Holdings plans to drill down into the world of consumer electronics and high-tech batteries to beef up profits while pausing on traditional, high-investment base metals projects that drain resources.

JX Nippon Mining & Metals’ new president, Seiichi Murayama, said his firm is interested in buying stakes in smaller mines of rare metals such as tantalum and niobium, key examples of the kind of materials needed to make the advanced semiconductors and batteries used in everything from smartphones to electric vehicles.

Murayama aims to make what he calls “electronic materials” the most profitable business at JX after cost overruns at its key Caserones copper mine project in Chile and weaker copper prices that have weakened the firm’s financial health.

‘Poverty-driven’ artisanal mining in spotlight after tragedy hits Canadian miner’s Congo property – by Gabriel Friedman (Financial Post – June 29, 2019)

July 3, 2019

https://business.financialpost.com/

‘You need to find alternative ways for these guys to work’

The death of dozens of artisanal miners in Congo on the property of a Toronto-Stock Exchange-listed Canadian company highlights the fraught relationship between overseas mining companies and local communities.

At least 43 artisanal miners have reportedly died while digging for cobalt — a vital metal for the batteries found in smartphones, tablets and electric cars — on a spot of ground that overlooks Katanga Mining Ltd.’s vast Kamoto Copper Complex.

Throughout much of Africa and other parts of the world, artisanal miners are often found near mines, taking grave risks to scour tailings or waste rock in search of valuable metals. Their numbers appear to be growing, along with tragic accidents, which has provoked questions and challenges for mining companies.

CORRECTED-Glencore’s Congo tragedy highlights security conundrum for miners – by Edward McAllister and Mitra Taj (Reuters Africa – June 30, 2019)

July 2, 2019

https://af.reuters.com/

DAKAR/LIMA, June 30 (Reuters) – The deaths of 43 illegal miners at a Glencore facility in Congo last week highlighted a growing challenge for mining companies struggling to secure sites from small-scale prospectors digging for cobalt, copper and other minerals.

Many mines span hundreds of square kilometers across rural terrains, a tantalizing prospect for illegal miners, also known as artisanal miners, who break into sites in search of metals, some of which end up in electric cars and other products.

But even as last Thursday’s tragedy ratcheted up pressure on companies to make changes to security and community outreach, industry consultants and analysts say the task will be difficult given the geographic constraints and economic challenges faced by the world’s estimated 40 million artisanal miners.

Glencore to support First Cobalt’s refinery in Ontario – by Trish Saywell (Northern Miner – June 25, 2019)

June 27, 2019

Northern Miner

First Cobalt (TSXV: FCC; US-OTC: FTSSF) has taken a major step toward becoming the only producer of refined cobalt in North America.

The company, which plans to restart its hydrometallurgical cobalt refinery near Cobalt, Ont., has signed an agreement with Glencore (LON: GLEN) that will see the metals giant supply the junior’s refinery with cobalt feedstock.

Under a memorandum of understanding, Glencore will also provide a loan to cover the estimated cost of re-commissioning the refinery, and collaborate on its final flow-sheet design.

India scrambles to look overseas for rare earths used in EVs – by Rosemay Marandi and Kiran Sharma (Nikkei Asian Review – June 27, 2019)

June 27, 2019

https://asia.nikkei.com/

MUMBAI/NEW DELHI — Three Indian state-run companies are forming a joint venture to secure minor metals such as lithium and cobalt that could fuel India’s plan for mass adoption of electric vehicles by 2030.

National Aluminum, Hindustan Copper and Mineral Exploration Corp. plan on exploring mines in Argentina, Bolivia, Chile and other countries for metals used to produce EV batteries, besides building strategic reserves of tungsten, nickel and rare earths.

India’s efforts toward securing a supply of minor metals, experts say, is crucial at a time when China is threatening to restrict export of rare earths as part of its escalating trade war with the U.S.

Rare earths opportunity for PM – by Tony Boyd (Australian Financial Review – June 28, 2019)

June 27, 2019

https://www.afr.com/

Rare earths should be a topic of conversation when Prime Minister Scott Morrison has bilateral meetings with US President Donald Trump and Japanese Prime Minister Shinzo Abe at the G20 Summit in Osaka over the next two days.

A discussion about rare earths has two distinct advantages for Morrison. First, it’s an opportunity to remind Trump and Abe of the increasingly important economic contribution Australia is making to the reliable and affordable supply of these strategic minerals to the US and Japan through Lynas Corporation.

Second, it’s an opportunity to draw the alignment between the economic benefits of the free trade between the three countries and the mutual geopolitical interest the US and Japan have in securing supplies of products critical to the technology, automotive and military industries.

Glencore Says 19 People Were Killed in Congo Mine Collapse – by William Cloves and Thomas Biesheuval (BNN/Bloomberg News – June 27, 2019)

June 27, 2019

https://www.bnnbloomberg.ca/

(Bloomberg) — Glencore Plc said 19 illegal miners were killed when part of a mine collapsed in the Democratic Republic of Congo.

Glencore shares fell as much 8.3%. The workers entered the mine without permission and put their lives at risk by trespassing on the industrial site, which is one of the world’s biggest cobalt mines, according to a statement from the company on Thursday. A search and rescue operation is ongoing. The incident will not affect Glencore’s production.

Producers and authorities in Congo and other African countries face a constant struggle against illegal miners, who break into operational and shuttered mines to extract ore and don’t follow official safety procedures.

Rare earths industry set to be shaken up by US-China trade war – by Tasneem Bulbulia (MiningWeekly.com – June 27, 2019)

June 27, 2019

https://www.miningweekly.com/

As the trade dispute between the US and China escalates, it is increasingly likely that China will use its near-monopoly in the global supply of strategic rare earths as leverage over the coming months, says Fitch Solutions Macro Research, a unit of Fitch Group.

China currently holds a near-monopoly on the global supply of rare earth metals, with over 72% of global market share.

The US is highly dependent on Chinese imports to satisfy its demand for rare earth metals, with China having supplied up to 80% of the rare earths imported by the US between 2014 and 2017.

Glencore Cuts Out Agents and Dealmakers as Scrutiny Grows – by Jack Farchy and Thomas Biesheuvel (Bloomberg News – June 25, 2019)

June 25, 2019

https://finance.yahoo.com/

(Bloomberg) — Glencore Plc is cutting out many of its intermediaries — the agents and dealmakers once essential to cracking the toughest markets — amid growing scrutiny of its operations around the world.

Under pressure from its compliance division, Glencore is dismantling much of its global network of trading agents, according to people familiar with the situation. To continue operating, the company is setting up teams in some countries, said the people, asking not to be named as the matter is private. In other places, Glencore is still using agents who pass strict compliance tests and have a clear role.

Glencore has long relied on intermediaries, who work on commission. The agents network with well-connected business and government officials in developing nations with the goal of securing commodity-trading deals. In a prospectus in 2003, for example, Glencore listed 64 field offices around the world, saying that included nine agents in eight countries “which act primarily for us.”

Plummeting cobalt price takes toll on Democratic Republic of Congo – by Henry Sanderson (Financial Times – June 23, 2019)

June 24, 2019

https://www.ft.com/

Lubumbashi: The price of cobalt — a key metal in electric cars — has plummeted 65 per cent over the past year, putting a strain on the economy of the world’s largest producer, the Democratic Republic of Congo.

Economic growth in the DRC, one of the world’s poorest countries, is likely to fall to 4.3 per cent this year from 5.8 per cent in 2018 — in part due to lower cobalt prices, according to the International Monetary Fund.

The DRC produces more than 60 per cent of the world’s supply of cobalt, a metal that is used in lithium-ion batteries for smartphones and electric cars. Last year the country’s former president Joseph Kabila declared the metal “strategic” and launched new regulations that require miners to pay 10 per cent of their revenues on sales of the metal to the state.

Chinese Rare-Earth Magnet Producer to Expand as EV Demand Booms (Bloomberg News – June 23, 2019)

June 24, 2019

https://www.bloomberg.com/

Industries around the world producing a host of electrical appliances will increasingly be forced to compete for rare-earth magnets with China’s burgeoning market for new energy vehicles, according to one Beijing-based magnet producer.

Jingci Material Science Co. is expanding its production capacity of neodymium-iron-boron — NdFeB for short — magnet material to 8,000 tons by the end of the year, from about 6,500 tons currently, sales director Qiu Yi said on the sidelines of an industry conference in Shanghai last week. The eventual goal is to raise capacity to 12,000 tons, he said, without giving a time-frame.

The importance of rare earths, ubiquitous across a range of applications from consumer goods to military gear, has been thrust into the spotlight in recent weeks as China mulls whether to use its position as the world’s dominant supplier as a counter in its trade war with Washington.

Lynas optimistic about rare earths boom (Australian Mining – June 24, 2019)

June 24, 2019

https://www.australianmining.com.au/

Lynas Corp has updated its 2025 growth plans, detailing a positive outlook on the rare earths market and regulatory issues in Malaysia.

The shareholder update emphasised the boom of rare earths in response to “global macroeconomic issues”, including the United States-China trade war that led to increased interest in Australian companies as the US looks to diversify supply sources.

It also reported that despite short term increases in the market, including prices for neodymium-praseodymium (NdPr) increasing by 40 per cent over the past 60 days, the company “remains focussed on longer term trends.”