Archive | United States Mining

Cleveland-Cliffs acquires ArcelorMittal’s U.S. assets for $1.4 billion in stock and cash – by John Caniglia (Cleveland.com – September 28, 2020)

https://www.cleveland.com/

CLEVELAND, Ohio – The iron-ore mining company, Cleveland-Cliffs Inc., has acquired the U.S. assets of ArcelorMittal, the world’s largest steelmaker, for $1.4 billion in cash and stock, the companies announced Monday.

The acquisition means Cleveland-Cliffs will become the largest flat-rolled steel producer in the country, and the largest producer of iron-ore pellets, the company said.

The deal comes just months after Cleveland-Cliffs purchased AK Steel Holding Corp. for $1.1 billion in stock. Continue Reading →

Piedmont Lithium soars after confirming Tesla deal – by Cecilia Jamasmie (Mining.com – September 28, 2020)

https://www.mining.com/

Shares in Australian junior Piedmont Lithium (ASX: PLL) climbed almost 84% on Monday in Sydney after it confirmed it had signed a sales agreement with Tesla to supply the electric cars maker with high-purity lithium ore mineral for up to ten years.

Piedmont accidentally released the announcement last week, following the hyped “Tesla Battery Days”, but the Australian Stock Exchange said it would not publish it then. Continue Reading →

OPINION: Score one for Canada: On aluminum tariffs, the U.S. bully blinks – by Lawrence Martin (Globe and Mail – September 17, 2020)

https://www.theglobeandmail.com/

The situation was rife with potential conflict. In the throes of a U.S. election campaign, Canada was preparing to announce major retaliation against President Donald Trump’s administration for the levies it proposed last month against Canadian aluminum imports.

The countermeasures could have affected votes in battleground states, and the likelihood was that Mr. Trump would strike back, escalating tensions as he fought for his political livelihood and drawing Canada into election hostilities.

But unless Deputy Prime Minister Chrystia Freeland is out-and-out lying, the bully has backed off, having run away with its tail between its legs. Just a couple of hours before Ottawa’s retaliatory tariffs were to be imposed, Mr. Trump withdrew his aluminum levies, thus ending the dispute. Continue Reading →

Ending China’s chokehold on rare-earth minerals – by James Mattis, James O. Ellis Jr., Joe Felter, and Kori Schake (AEI.org/Bloomberg Opinion – September 18, 2020)

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China dominates the global market in rare-earth minerals, producing 70% of the world’s exports. But this isn’t a gift of nature — it’s the result of 15 years of industrial policy.

The Chinese government identified a critical economic chokehold, invested in building companies, subsidized production to underprice and ultimately destroy competition, and then constructed a monopoly.

U.S. supply chains — both military and commercial — are almost wholly dependent on China for processed rare earths for our advanced weaponry and microelectronics. Continue Reading →

U.S. removes tariffs on Canadian aluminum but imposes quotas on future shipments – by Steven Chase (Globe and Mail – September 16, 2020)

https://www.theglobeandmail.com/

The U.S. government has removed tariffs on Canadian aluminum first announced in August but also warned it will reimpose them if shipments to the United States exceed quotas in the months ahead.

The reversal was announced just two hours before Canada was set to unveil $3.6-billion in retaliatory measures on U.S. imports on Tuesday.

Canada and the United States have been locked in a battle over the tariffs for months with the U.S. pushing for an agreement on tariffs triggered when shipments exceed certain volumes. The result of this dispute is the U.S. has unilaterally imposed its own tariff-rate quota on Canadian aluminum. Continue Reading →

Canada to unveil retaliatory measures against United States this week in aluminum dispute – by Steven Chase (Globe and Mail – September 15, 2020)

https://www.theglobeandmail.com/

Canada this week will unveil the retaliatory measures it’s taking against the United States after President Donald Trump slapped tariffs on Canadian aluminum in August.

An announcement could come as soon as Tuesday, or as late as Wednesday, a government source said. The Globe granted anonymity because the source is not authorized to speak publicly about the matter.

Deputy Prime Minister Chrystia Freeland last month said the measures would amount to $3.6-billion and would go into effect on Sept. 16. They will be tariffs on U.S. imports, many of which contain aluminum. Continue Reading →

‘Dollar for dollar, we will not back down’: Retaliation on U.S. tariffs expected this week – by Gabriel Friedman (Financial Post – September 15, 2020)

https://financialpost.com/

Deputy Prime Minister Chrystia Freeland is preparing to enact a sweeping set of retaliatory tariffs later this week on U.S. aluminum products, according to several sources familiar with the situation.

U.S. President Donald Trump announced last month that he was re-imposing 10 per cent tariffs on Canadian primary aluminum, effective Aug. 16, saying surging volumes were a threat to national security after having lifted his original tariff in 2019.

Freeland promised to retaliate after a 30-day consultation period, and now, sources inside and outside the government, say Canada plans to impose 10 per cent tariffs on about $3.5 billion worth of U.S. aluminum and aluminum-containing products, effective Wednesday. Continue Reading →

How the US government seized all citizens’ gold in 1930s – by Chris Colvin and Philip Fliers (The Conversation – May 21, 2020)

https://theconversation.com/

Chris Colvin is a Senior Lecturer in Economics, Queen’s University Belfast and Philip Fliers is a Lecturer in Finance, Queen’s University Belfast.

With global financial markets in disarray, many investors are turning to classic safe havens. Gold is trading above US$1,750 (£1,429) per troy ounce, which is the standard measure – more than 15% above where it started 2020.

Even after a strong rally since March, the S&P 500 stock market index is down nearly 10% over the same period.

Gold confers familiarity during downturns. Its returns are uncorrelated with assets like stocks, so it tends to hold its value when they fall. It is also a good way of avoiding currency devaluation. Continue Reading →

New data casts doubt on Trump’s basis for tariffs on Canadian aluminum – by Gabriel Friedman (Financial Post – September 4, 2020)

https://financialpost.com/

New data released on Thursday confirms that Canadian exports of primary aluminum to the U.S. had been declining for months when U.S. President Donald Trump announced in August he would reimpose 10 per cent tariffs.

The data undermines the factual basis for Trump’s tariffs, which he said were necessary because Canadian producers had flooded the U.S. market with aluminum, hurting the U.S. sector.

But on Thursday, the Washington International Trade Association hosted a panel discussion on the topic, in which opponents of the tariffs suggested that metal traders had exploited the economic fallout from the coronavirus. Continue Reading →

Trump Made a Promise to Save Coal in 2016. He Couldn’t Keep It – by Ari Natter and Will Wade (Bloomberg News – September 3, 2020)

https://www.bloombergquint.com/

(Bloomberg) — President Donald Trump spent more than $1 billion in taxpayer funds, rolled back environmental rules and tried to stop power plant closings to fulfill a vow he made to West Virginia coal miners in the 2016 campaign.

But nothing he’s done is rescuing the coal industry. Since Trump’s inauguration, U.S. coal production—after a slight uptick in 2017—is expected to be down 31% this year from 2016 levels.

By some estimates, more than five dozen coal-burning power plants have closed and although mining jobs remained steady before dropping this year, they didn’t increase. Continue Reading →

State environmental agency requires stricter monitoring of uranium mine near Grand Canyon – by Scott Buffon (Arizona Daily Sun – August 26, 2020)

https://azdailysun.com/

Public outcry pushed an Arizona environmental agency to require Canyon Mine, a uranium mine near the Grand Canyon, to apply for a more strict aquifer protection permit.

The Arizona Department of Environmental Quality (ADEQ) denied a general permit for Canyon Mine, owned by Canadian-based Energy Fuels Resources, after reviewing feedback from the public and reviewing the years of documents available on the mine.

Public comment cited allegations of cultural and environmental damage to water stores, wildlife and land to demand the department issue the stricter permit for the purpose of closing down the mine in September 2019. Continue Reading →

Trump Promised a Coal Comeback But America’s Miners Need an Energy Revolution – by Josh Eidelson (Bloomberg News – August 25, 2020)

https://www.bnnbloomberg.ca/

(Bloomberg) — Bobby Stevens’s backup plan for his backup plan encountered an obstacle a few months ago.

In March the coronavirus pandemic closed the Kentucky government building where he was set to take his commercial driver’s license test, which he started studying for after he got dismissed by his second coal company in a year, where he’d started working after the first one went bankrupt.

The bankruptcy of coal giant Blackjewel LLC, which terminated Stevens and about 1,700 other workers in four states, made international news last summer when some of them blocked railroad tracks in Harlan County, Ky., over unpaid wages. Continue Reading →

Grand Canyon will not be mined, says Uranium Producers of America (MiningWeekly.com – August 21, 2020)

https://www.miningweekly.com/

The Uranium Producers of America has denied news reports that imply that the Grand Canyon National Park will be opened up for uranium mining, labelling such articles as disinformation.

The Obama administration in 2012 banned new uranium mining claims around the Grand Canyon National Park for 20 years.

Reports continue to do the rounds that the Trump administration, which has been active in promoting domestic uranium mining, is open to projects near the Grand Canyon. Continue Reading →

COMMENTARY: Rebuilding America’s supply chains can’t wait – by Rich Nolan (Fredericksburg Free Lance-Star – August 20, 2020)

https://fredericksburg.com/

Rich Nolan is president and chief executive officer of the National Mining Association.

TESLA’s announcement of a new, 2,100-acre gigafactory in Texas has rightly generated a great deal of excitement. In this time of economic crisis, news of 5,000 new jobs assembling the world’s most celebrated electric vehicle is an important step toward strengthening domestic manufacturing.
In fact, the move has prompted Elon Musk and others to look further up the supply chain—to the raw materials that will make the production of these vehicles possible.

On a call last month, Musk highlighted his concerns about the front end of the supply chain: “Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way.” Continue Reading →

Native Americans: Rio’s copper plan belies gorge vows – by Peter Ker (Australian Financial Review – August 21, 2020)

https://www.afr.com/

Native American groups say Rio Tinto’s plan to build a big copper mine on one of their sacred sites contradicts the company’s vow to improve management of cultural heritage in the wake of this year’s Juukan Gorge debacle in Western Australia.

The comments from Apache and environmental groups in the US highlight the global ramifications of Rio’s decision to blast through the culturally sensitive gorge in May, and how inconvenient the timing could be for the company’s plan to build a big new copper mine in Arizona.

US regulators were scheduled to file their final environmental impact study into the Resolution Copper project in July, ending eight years of approval processes and triggering a controversial land swap within 60 days. Continue Reading →