Twitter
Boston-Bay-Mines-Announcement

United States Mining

New bans on Russian metals mean China will buy low and sell high to supply the U.S., Europe, and UK – by Ernest Hoffman (Kitco News – April 19, 2024)

https://www.kitco.com/

(Kitco News) – Last Friday at midnight, the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) enacted the most comprehensive limitation on Russian exports to date: a ban on all Russian metal produced after April 12. The move was made to bring the LME into compliance with the latest U.S. and U.K. sanctions imposed following Russia’s invasion of Ukraine.

The goal is to prevent Russia from being able to profit from the export of metal produced by companies such as Rusal (aluminum) and Nornickel (nickel) which help the country fund its ongoing military operations in Ukraine.

Read more

Biden vows to shield US steel industry by blocking Japanese merger and seeking new Chinese tariffs – by Chris Megerian and Will Weissert (Associated Press – April 16, 2024)

https://apnews.com/

PITTSBURGH (AP) — President Joe Biden suggested to cheering, unionized steelworkers on Wednesday that his administration would thwart the acquisition of U.S. Steel by a Japanese company, and he called for a tripling of tariffs on Chinese steel, seeking to use trade policy to win over working-class votes in the battleground state of Pennsylvania.

The Democratic president’s pitch comes as Donald Trump, his likely Republican opponent, tries to chart a path back to the White House with tough-on-China rhetoric and steep tariff proposals of his own.

Read more

Tesla supplier Piedmont Lithium gets key North Carolina mining permit – by Ernest Scheyder (Reuters – April 15, 2024)

https://www.reuters.com/

April 15 (Reuters) – North Carolina regulators have approved a state mining permit for Tesla (TSLA.O), opens new tab supplier Piedmont Lithium to develop one of the largest U.S. sources of the key electric vehicle battery metal, although key financing and local regulatory challenges remain.

The approval from the North Carolina Department of Environmental Quality, which was announced by the company on Monday and is conditional on the posting of a $1 million reclamation bond, removes a major hurdle to Piedmont’s plans to tap a large lithium deposit just outside Charlotte.

Read more

US must boost Africa ties to secure key minerals, report says – by Felix Njini (Reuters – April 9, 2024)

https://www.reuters.com/

JOHANNESBURG/WASHINGTON, April 9 (Reuters) – The U.S. must boost commercial ties with African countries to curb reliance on China for supplies of critical minerals, a Washington-based think tank said on Tuesday.

“U.S. economic and national security depend on securing a reliable supply of critical minerals, including from Africa,” the United States Institute of Peace said in a report.

Read more

BMO drops anti-coal policy amid Wall Street rebuke of ESG – by Amanda Albright (Bloomberg News – April 8, 2024)

https://www.bnnbloomberg.ca/

BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being labelled an energy “boycotter” in West Virginia. The change came to light Monday after West Virginia Treasurer Riley Moore took a victory lap in an announcement of the financial firms it was adding to its boycott list, which doesn’t include BMO.

In late February, the bank received a warning that it could be put on a state list of companies that Moore’s office considers to boycott the fossil fuels industry. BMO is the U.S. subsidiary of Toronto-based Bank of Montreal.

Read more

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.”

Read more

Michigan’s $50M support of copper mine project comes with caveat – by Ian Ross (Northern Ontario Business – April 3, 2024)

https://www.northernontariobusiness.com/

Highland Copper on the spot to raise financing for Upper Peninsula mine

The State of Michigan is prepared to give a Vancouver copper company a funding kickstart to support a proposed mine in western Upper Peninsula. The board of the Michigan Strategic Fund has approved a $50-million “performance-based grant” to Highland Copper Company. Final approval still needs to come from the state legislature.

The grant, which comes from a Strategic Site Readiness Program, is specifically intended for mine-related infrastructure development, meaning installing roads, communications and extending power to the site.

Read more

A Nuclear Power Revival Is Sparking a Surge in Uranium Mining – by Jim Robbins (Yale Environment 360 – April 4, 2024)

https://e360.yale.edu/

A push for nuclear power is fueling demand for uranium, spurring the opening of new mines. The industry says new technologies will eliminate pollution from uranium mining, but its toxic legacy, particularly in the U.S. Southwest, leaves many wary of an incipient mining boom.

After sitting dormant since the 1980s, the Pinyon Plain uranium mine began operating in January on the Kaibab National Forest in Arizona, about seven miles south of the Grand Canyon. Thanks to new interest in expanding nuclear power, the price of uranium is on a tear, making undeveloped and long-shuttered mines viable. Pinyon Plain, which has some of the highest-grade uranium ore in the country, is one of the first uranium mines to open in the United States in eight years.

It will not be the last. In the U.S. and around the world, uranium mining is experiencing a revival. At least five producers in the U.S. are reactivating mines in Texas, Utah, Wyoming, and Arizona, all of which closed after the 2011 disaster at Fukushima sent the price of uranium plummeting. Other projects are underway internationally, including new mines planned in Canada, India, and Mongolia.

Read more

Uranium mined near Grand Canyon as prices soar, US pushes more nuclear power – by Susan Montoya Bryan (Associated Press/Arizona Capital Times – March 31, 2024)

Arizona Capitol Times

The largest uranium producer in the United States is ramping up work just south of Grand Canyon National Park on a long-contested project that largely has sat dormant since the 1980s. The work is unfolding as global instability and growing demand drive uranium prices higher.

The Biden administration and dozens of other countries have pledged to triple the capacity of nuclear power worldwide in their battle against climate change, ensuring uranium will remain a key commodity for decades as the government offers incentives for developing the next generation of nuclear reactors and new policies take aim at Russia’s influence over the supply chain.

Read more

Baltimore Bridge Collapse Will Likely Block Coal Exports for Weeks – by Josh Saul (Bloomberg News – March 26, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — The collapse of a major Baltimore bridge Tuesday is likely to shut down the port’s coal exports for as many as six weeks and block the transport of up to 2.5 million tons of coal, said Ernie Thrasher, chief executive officer of Xcoal Energy & Resources LLC.

The US exported about 74 million tons of coal last year, with Baltimore the second-largest terminal for the commodity. Plugging up a major coal hub threatens to disrupt global energy supply chains that have finally begun to work out the kinks left over from pandemic slowdowns.

Read more

America’s lithium laws fail to keep pace with rapid development – by Ernest Scheyder (Reuters – March 25, 2024)

https://www.reuters.com/

March 25 (Reuters) – Washington’s drive to make the United States a major global lithium producer is being held back by a confusing mix of state regulations that are deterring developers and hampering efforts to break China’s control of the critical minerals sector.

Across Texas, Louisiana and other mineral-rich states, it’s unclear who owns the millions of metric tons of lithium locked in salty brines underneath U.S. soils, how the battery metal should be valued by regulators and who ultimately should pay to process it into a form usable by manufacturers.

Read more

Cleveland Cliffs gets part of $6 billion funding to slash emissions in industrial facilities – by Rick McCrabb (Dayton Daily News/Associated Press – March 25, 2024)

https://www.daytondailynews.com/

Middletown steel plant among projects that will slash planet-warming greenhouse gas emissions.

MIDDLETOWN — Cleveland-Cliffs Middletown Works is expected to receive a major investment up to $500 million to overhaul the ironmaking systems and install a new environmentally friendly system.

The 100% hydrogen-ready, flex-fuel direct reduction plant will be directly coupled to two electric melting furnaces to produce iron with nearly zero greenhouse gas emissions, according to U.S. Sen. Sherrod Brown’s (D-OH) office.

Read more

Biden opposes plan to sell US Steel to a Japanese firm, citing the need for ‘American steel workers’ – by Josh Boak (Associated Press – March 14, 2024)

https://apnews.com/

WASHINGTON (AP) — President Joe Biden came out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan, saying on Thursday that the U.S. needs to “maintain strong American steel companies powered by American steel workers.”

In a statement, Biden added: “U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.”

Read more

Canada, U.S. governments reach deal to address cross-border coal pollution – by Wendy Stueck (Globe and Mail – March 11, 2024)

https://www.theglobeandmail.com/

The Canadian and U.S. governments have agreed to put the issue of cross-border pollution from B.C. coal mines before the International Joint Commission, a body set up more than a century ago to resolve conflicts over shared waters.

The request, made through what is known as a joint reference under the Boundary Waters Treaty of 1909, follows years of campaigning by Indigenous peoples and was developed with the Ktunaxa Nation, an Indigenous people whose traditional territory takes in parts of British Columbia, Montana and Idaho.

Read more

Oil Fields of Arkansas Are the Newest Locations for a Lithium Battery Rush – by Boyce Upholt (Mother Jones – March 11, 2024)

https://www.motherjones.com/

“Production at existing sites could negate the benefits of the clean technologies they power.”

The town of Smackover, Arkansas, was founded a hundred years ago when a sawmill operator got lucky: his wildcat oil well yielded a gusher. For a time in the 1920s, the oil field beneath the clay hills and swampy creeks in this stretch of southern Arkansas was the world’s most productive site. Now, boosters say the region will help usher the world into an oil-free future, thanks to the discovery of underground brines that are rich in lithium.

Lithium is one of the most important metals in the transition to renewable power. Lithium-ion batteries are, thanks to their lightweight and high energy density, currently the top choice for storing energy in electric vehicles, and a potential tool for grid storage, too. Global production of the metal tripled throughout the 2010s, and demand is projected to increase as much as 40-fold by mid-century.

Read more