Republic of Mining

Generation Greta is growing up — and they’re angry – by Marco Chown Oved (Toronto Star – September 24, 2022)

September 27, 2022

https://www.thestar.com/

They gathered at Queen’s Park, and in more than 600 locations worldwide Friday — a little older, a little wiser and a little angrier.

It’s hard to believe it was only four years ago when a Swedish teenager skipped school for the environment and inspired millions around the world to do the same. But for many of the kids who followed in Greta Thunberg’s footsteps, the past four years have not flown by.

Instead, they’ve been punctuated by disappointment and failure. As the Fridays for Future movement grew bigger and more ambitious — drawing more than six million people into the streets worldwide at its peak in 2019 — the same cannot be said for the actions of world leaders on the climate file.

‘This is a very, very big deal for Manitoba’ – by Martin Cash (Winnipeg Free Press – September 24, 2022)

September 27, 2022

https://www.winnipegfreepress.com/

Snow Lake Resources working with LG Energy Solution to establish lithium supply chain in province

An important first step was taken on Thursday for Manitoba to aggressively insert itself into the global supply chain for lithium ion batteries, a product that is in red hot demand from vehicle manufacturers around the world.

LG Energy Solution, the second largest battery maker in the world, signed a memorandum of understanding with Snow Lake Resources to work together to potentially build Canada’s first lithium hydroxide processing plant in Winnipeg.

China growth to fall behind rest of Asia for first time since 1990 – by Edward White and Mercedes Ruehl (Financial Times – September 26, 2022)

September 27, 2022

https://www.ft.com/

China’s economic output will lag behind the rest of Asia for the first time since 1990, according to new World Bank forecasts that highlight the damage wrought by President Xi Jinping’s zero-Covid policies and the meltdown of the world’s biggest property market.

The World Bank has revised down its forecast for gross domestic product growth in the world’s second-largest economy to 2.8 per cent, compared with 8.1 per cent last year, and from its prediction in April of between 4 and 5 per cent for this year.

Saudi Arabia Faces Challenges to Tap Its Vast Copper Reserves – by Yvonne Yue Li (Bloomberg News – September 25, 2022)

September 27, 2022

https://www.bnnbloomberg.ca/

(Bloomberg) — Saudi Arabia says it has the potential to unlock enough copper to ease a looming shortage as the world makes an epic shift to clean energy, but the kingdom faces challenges that established mining countries already have solved.

Key among those challenges as the world’s largest oil producer seeks to unlock an estimated $1.3 trillion in mineral wealth are logistics and water supplies, according to Bandar bin Ibrahim Al-Khorayef, Minister of Industry and Mineral Resources.

Noront to be renamed Ring of Fire Metals as Wyloo pushes to build EV nickel mine in Ontario’s Far North – by Niall McGee (Globe and Mail – September 27, 2022)

September 27, 2022

https://www.theglobeandmail.com/

Wyloo Metals Pty Ltd. has renamed Noront Resources Ltd., the junior Canadian exploration company it recently acquired, to Ring of Fire Metals, as the Australian resource heavyweight moves forward in its attempt to build what could be a cornerstone mine for Ontario’s nascent electric-vehicle industry.

Perth-based private equity firm Wyloo acquired Noront this year for $617-million after winning a fierce bidding war against fellow Australia miner BHP Group Ltd. Wyloo chief executive Luca Giacovazzi said in a release that it settled on the Ring of Fire name to recognize both the minerals district in which the nickel project is located, and to pay homage to Noront’s Canadian roots.

Column: Copper price slump brings Chinese buyers out in force – by Andy Home (Reuters – September 27, 2022)

September 27, 2022

https://www.reuters.com/

LONDON, Sept 27 (Reuters) – While the rest of the world worries about recession, China is steadily increasing its imports of physical copper. The country’s net call on refined copper from the rest of the world was up by 9.8% in the first eight months of the year. Year-to-date volumes are the strongest since 2020, when China imported a record amount of metal.

China is simultaneously lifting imports of both copper scrap and mined concentrates, suggesting the hunger for refined units is not down to a shortage of raw materials. Strong import flows defy both the broader gloom around China’s debt-laden property sector and the more specific problems at trading house Maike, which is one of China’s dominant copper import channels.

Australian explorer aims to be Ontario’s first lithium miner and refiner – by Staff (Northern Ontario Business – September 26, 2022)

September 26, 2022

https://www.northernontariobusiness.com/

Green Tech Metals strikes strategic alliance with LIthium Americas to establish a northwestern Ontario supply chain for the automakers

An Australian lithium explorer operating in the Armstrong-area is teaming up with a Canadian multi-national to develop a lithium mining and processing business in northwestern Ontario.

Green Technology Metals (GT1) has signed a strategic collaboration agreement with Lithium Americas Corp. (LAC) of Vancouver to start a lithium supply chain for the auto sector.

More than 300 new mines needed to meet electric vehicle demand, says analyst (CBC News Sudbury – September 25, 2022)

September 26, 2022

https://www.cbc.ca/news/canada/sudbury/

Canada can play a big role in meeting demand for electric vehicles, analyst says

More than 300 new mines will be needed globally to meet growing demand for electric vehicle (EV) batteries, according to a new forecast from a mining analyst.

Benchmark Mineral Intelligence estimates at least 384 new mines for graphite, lithium, nickel and cobalt will be required to meet electric vehicle demand by 2035. If battery materials can be recycled in large enough quantities, the firm says about 336 new mines would be needed.

Canadian miners eye more lithium deals after LG Energy signs three deals in 24 hours – by Naimul Karim (Financial Post – September 24, 2022)

September 26, 2022

https://financialpost.com/

The deals paint a hopeful picture at a time when demand for EVs has increased and the world looks to shift away from coal

South Korean battery maker LG Energy Solution Ltd. announced three agreements in a span of 24 hours with Canadian miners to source materials required to make batteries for electric vehicles (EVs) as it looks to boost its focus on North America.

After announcing its three-year cobalt deal with Toronto-based Electra Battery Materials Corp. on Thursday morning, the Tesla Inc. supplier announced agreements to source lithium from Toronto-based miner Avalon Advanced Materials Inc. and Winnipeg-based Snow Lake Resources Avalon Advanced Materials Ltd., which is developing a lithium project in Manitoba.

Vale and Glencore team up on electric mining vehicle safety – by Len Gillis (Sudbury.com – September 23, 2022)

September 23, 2022

https://www.sudbury.com/

Big Sudbury miners realized safety goals could be better achieved by working together than tackling problems alone

Sudbury’s two large mining companies are working together on the transition to Battery Electric Vehicles (BEVs) to make it safer to operate those vehicles on surface and in underground mines.

The partnership between Vale Canada and Glencore was revealed at the Maintenance, Engineering and Mine Operators Conference in Sudbury held in Sudbury this week. This was one of several sessions that were held in the Innovation and New Technology category.

Wealth in the water: the face-off over deep-sea mining in Oceania – by Giles Crosse (Mining Technology – September 22, 2022)

September 23, 2022

https://www.mining-technology.com/

The International Seabed Authority (ISA) is tasked with effectively protecting the world’s deepest seas and most alien environments, and the body is granting an increasing number of exploration permits to research institutes and private companies alike.

Many of the companies’ efforts are aimed at the Clarion-Clipperton zone in the South Pacific, where fist-sized polymetallic nodules often contain valuable rare earth minerals, and have become an attractive prospect for miners.

How a Quebec Lithium Mine May Help Make Electric Cars Affordable – by Jack Ewing (New York Times – September 20, 2022)

September 23, 2022

https://www.nytimes.com/

The project also illustrates how difficult it is to get lithium out of the ground and break China’s dominance in processing the metal and turning it into batteries.

About 350 miles northwest of Montreal, amid a vast pine forest, is a deep mining pit with walls of mottled rock. The pit has changed hands repeatedly and been mired in bankruptcy, but now it could help determine the future of electric vehicles.

The mine contains lithium, an indispensable ingredient in electric car batteries that is in short supply. If it opens on schedule early next year, it will be the second North American source of that metal, offering hope that badly needed raw materials can be extracted and refined close to Canadian, U.S. and Mexican auto factories, in line with Biden administration policies that aim to break China’s dominance of the battery supply chain.

OPINION: The European energy crisis may not be as severe as advertised – by Eric Reguly (Globe and Mail – September 20, 2022)

September 23, 2022

https://www.theglobeandmail.com/

Appalling prices for oil and natural gas will guarantee Europe’s status as a dark, frozen hell this winter. Manufacturers big and small will fail – are failing already. Unemployment will rise. Countries with gruesome bills for energy imports will sink into recession. And the euro will keep sinking.

This scenario is pretty much accepted as gospel, and most of the data and anecdotal evidence suggests the economic pain will intensify as cold weather boosts energy demand. Almost half the households in the European Union depend on gas for heating, and gas is in short supply as pipelines to Central and Western Europe are cranked shut by the Kremlin in retaliation for the West’s sanctions against President Vladimir Putin’s war machine.

Australian coal company seeking more than $3.5B from Alberta government over policy change – by Joel Dryden (CBC News Calgary – September 23, 2022)

September 23, 2022

https://www.cbc.ca/

It follows a $3.4B lawsuit filed early this year over the same policy reversal

An Australian coal company is alleging that Alberta is liable for billions after reversing course on policy tied to coal development in the province.

As first reported by the Calgary Herald, Atrum Coal Ltd., along with its subsidiary, Elan Coal Ltd., says it is seeking $3.53 billion, tied to the value of its Elan Project. It is also seeking an additional $300 million for losses to shareholders.

Gold prices trade near session lows strong S&P flash PMI data helping to weigh on market – Neils Christensen (Kitco News – September 23, 2022)

September 23, 2022

https://www.kitco.com/

(Kitco News) – Bearish sentiment appears to be finally catching up with the gold market as stronger than expected activity in the manufacturing and service sectors and technical selling pressure keep prices near session lows.

Friday, the S&P Global Flash U.S. Composite PMI reported a healthy rise in activity within and service sector. The report said that the manufacturing PMI data came in at 51.8, up from August’s reading of 51.5. The data was better than expected; according to consensus estimates, economists were looking for a reading around 51.