Republic of Mining

Canadian regulators to create new watchdog for investment industry, replacing IIROC and MFDA – by Vanmala Subramaniam (Globe and Mail – August 4, 2021)

August 5, 2021

https://www.theglobeandmail.com/

Canadian securities regulators are establishing a new self-regulatory organization that will oversee the country’s investment industry, consolidating the functions of two existing entities – the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA).

The creation of the new regulator, announced Tuesday, is the result of more than 18 months of feedback and consultation from various industry participants, after the Canadian Securities Administrators – an umbrella organization of Canada’s provincial and territorial securities commissions – announced in December, 2019, that it was considering an overhaul of the regulatory framework that governs IIROC and MFDA.

The CSA also announced that it would also combine two investor protection funds – the Canadian Investor Protection Fund and the MFDA Investor Protection Corporation – into a single fund that will be independent from the new organization.

Steelworkers, Vale looking forward with new contract in hand – by Colleen Romaniuk (Sudbury Star – August 4, 2021)

August 5, 2021

https://www.thesudburystar.com/

United Steelworkers (USW) Local 6500 voted to ratify a new five-year collective bargaining agreement with Vale on Tuesday evening. The union’s president, Nick Larochelle, said that 85 per cent of its membership voted in favour of the new deal, effectively ending the 64-day strike that began on June 1.

Vale employees will return to work the week of Aug. 9 with production ramping up in the coming weeks. Larochelle said he’s proud the USW membership’s conduct throughout the strike and he’s happy this agreement works for both parties.

“We’re looking forward to making our members successful as we work with Vale to achieve economic success and longevity here in this world-class ore body,” he said.

New face, old hand: What to watch out for in Gary Nagle’s first year as Glencore CEO – by David McKay (MiningMX.com – August 3, 2021)

August 4, 2021

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ASKED at a press conference what his successor might look like, Ivan Glasenberg replied: “I hope he looks like me.” It was a quip that anticipated in Gary Nagle, Glencore’s CEO from July, a company preferring continuity over novelty. Nagle might not be Glasenberg’s lookalike, but he is certainly a ‘think-alike’.

Analysts don’t expect Nagle to spring any surprises when he gets into his stride, which should be immediately. He’s been at the company since graduation (in accounting).

His alma mater is the University of the Witwatersrand, the same as Glasenberg’s. Like Glasenberg, Nagle learned the ropes in the group’s coal division.

Lithium boom could be coming to Salton Sea area, and residents need to be included – by Mariela Loera (Desert Sun – August 4, 2021)

August 4, 2021

https://www.desertsun.com/

Mariela Loera is a policy advocate with the Leadership Counsel for Justice and Accountability.

Will the dream of renewable energy in the “Lithium Valley” around the Salton Sea be a nightmare for surrounding communities?

The area contains huge amounts of lithium, and demand for electric cars — which use lithium-ion batteries — is booming. So we are at a vital moment to meaningfully engage residents and ensure that future decisions and actions not only prevent harm but also benefit local communities.

Early community involvement before the work to extract the lithium begins in earnest will enable preventative action that considers the existing circumstances of surrounding communities and ensures no further harm, which is essential for equitable progress and true climate resilience.

Mining the Northwest: Generation Mining plots the path forward in Marathon – by Staff (Northern Ontario Business – August 3, 2021)

August 4, 2021

https://www.northernontariobusiness.com/

Toronto mine developer looks to raise $665M to build North Shore open-pit palladium, copper mine

The wheels are beginning to turn in planning the development of an open-pit palladium and copper mine outside the town of Marathon.

Toronto’s Generation Mining had been holding off revealing its plans until its joint venture partner, South Africa’s Sibanye-Stillwater, decided not to buy back into the mining project it had optioned to Gen Mining two summers ago.

Since appearing on the North Shore of Lake Superior in 2019, Generation has been on an aggressive exploration and development track at Marathon. And it appears nothing has changed based on their upcoming plans over the next few months, as outlined in a web call that company management delivered to investors on July 27. Generation now holds an 81 per cent controlling interest in the project.

Other Voices: Biden infrastructure plan targets state’s coal communities – by Deb Haaland (Pittsburgh Post-Gazette – August 1, 2021)

August 4, 2021

https://www.post-gazette.com/

Deb Haaland is the U.S. Secretary of the Interior.

As I travel throughout America, I am filled with hope as I see businesses open and communities recovering. Thanks to President Joe Biden’s leadership in passing the American Rescue Plan and making progress in defeating COVID-19, economic growth is up and unemployment is down.

The nation’s ongoing economic recovery is opening opportunities to help stabilize and empower workers who have been facing economic instability since before the pandemic.

During my trip to Schuylkill County earlier this month, I saw firsthand how hardworking coal communities here in Pennsylvania helped power our country, but are now facing significant challenges in restoring their community environments and retooling toward developing a robust and sustainable clean energy future.

Rosatom subsidiary plans for lithium mining on the Kola Peninsula – by Thomas Nilsen (Barents Observer – July 29, 2021)

August 4, 2021

https://thebarentsobserver.com/en/

The world’s hunger for lithium-ion batteries is sky-rocketing as the car industry rapidly changes from combustion engines to electric powertrains. A carbon-free future will additionally require huge amounts of batteries to store wind and solar power on the grid.

Data collected by Bloomberg shows how demand for lithium-ion batteries will surge from roughly 526 gigawatt hours in 2020 a predicted 9,300 gigawatt hours by 2030. To meet the demand, annual production of lithium carbonate should be boosted from today’s 520,000 metric tons existing mining capacity up to 2,8 million metric tons by 2028, a study by Rystad Energy suggests.

The study warns of the risk of a significant supply deficit from 2026-2027 unless new minings are started.

Why China makes Trudeau’s carbon tax irrelevant – by Lorrie Goldstein (Toronto Sun – July 31, 2021)

August 4, 2021

https://torontosun.com/

In 2019, China for the first time generated more emissions than the entire developed world combined

Whenever human-induced climate change is discussed during Canada’s upcoming federal election, keep in mind the country that matters most on this issue is China and the fossil fuel that matters most in China is coal.

The reason is that whatever China does makes whatever Canada does irrelevant in terms of greenhouse gas emissions.

That’s because coal — not oil — is the most carbon intensive fossil fuel and the main contributor to global emissions. In China, coal-fired electricity supplies 57% of its energy needs. In Canada it’s 7.4%.

Nuclear Plants to Get $6 Billion Lifeline in Infrastructure Deal – by Ari Natter and Will Wade (Bloomberg News – August 2, 2021)

August 4, 2021

https://www.bnnbloomberg.ca/

(Bloomberg) — Struggling nuclear power reactors would get a $6 billion lifeline under the bipartisan infrastructure bill heading for a vote in the U.S. Senate — a move supported by the Biden administration, but opposed by some environmentalists.

A program to evaluate nuclear reactors that are at risk of being shut down and provide them with aid would be created within the Energy Department under terms of the $550 billion, bipartisan infrastructure package.

The senators negotiating the package completed the text Sunday, moving the chamber a crucial step closer to likely passage this week. Final congressional action won’t come until after the House returns from a recess in September.

Will This Court Case End the Mining Industry’s 150-Year Dominance of the West? – by Elizabeth Royte (Mother Jones – August 2, 2021)

August 4, 2021

https://www.motherjones.com/

One legal loophole might change everything.

Early one May morning, I escaped Tucson’s unrelenting grid and drove south through Pima County on Arizona’s state Route 83, into the heart of the Madrean Sky Islands, an almost mythical landscape of shadowy, isolated peaks where several biological zones overlap.

The blue-gray Whetstone Mountains marked the distant eastern horizon, the Patagonias loomed to the south, and to the immediate west rose the camelback ridgeline of the Santa Ritas. There, oaks and junipers stippled upper elevations, and rolling swells of grass blanketed low slopes.

A haven for wildlife and a balm for those seeking respite in nature, this region contains some of the rarest intact ecosystems and the highest-quality streams among the deserts of the Southwest, providing habitat for ocelots, jaguars, and a dozen other endangered species.

Hyundai, LG To Build $1.1 Billion Electric Vehicle Battery Plant In Indonesia To Tap Nickel Supply – by Ralph Jennings (Forbes Magazine – August 2, 2021)

August 4, 2021

https://www.forbes.com/

South Korean conglomerates Hyundai and LG will jointly build a $1.1 billion electric vehicle battery plant in Indonesia to take advantage of the Southeast Asian country’s potentially vast consumer market and rich natural supply of nickel.

The 50-50 joint venture, slated to operate in the Karawang regency, Indonesia’s West Java province, will break ground this year and start production in 2024 with annual capacity for 10 gigawatt hours of battery cells, Hyundai said in a statement on Thursday.

Hyundai and LG can churn out 150,000 battery-run electric vehicles at that capacity, the statement says. The factory built on 330,000 square meters of land will help Hyundai and its subsidiary Kia “secure a stable supply of EV batteries at a competitive price” for future electric vehicles, it adds.

Vale to spend $150M to extend life of Thompson mining operation – by James Snell (Sudbury Star – August 3, 2021)

August 4, 2021

https://www.thesudburystar.com/

Vale Canada Limited has announced a $150 million infrastructure investment to extend the life of its Thompson mining operation by 10 years. The company is also carrying out aggressive exploration drilling to potentially extend the mine’s life beyond 2040.

The $150 million will cover phase one of the Thompson mine expansion, Vale said in a statement. Phase one includes infrastructure development – ventilation raises and fans, increased backfill capacity and additional power distribution that will allow the company to mine deeper and longer.

Phase one could increase production by 30 per cent. The company plans to access lower portions of its primary ore body in phase two.

Why the ‘brains behind Tesla’ is betting his fortune on urban mining – by Patrick McGee and Henry Sanderson (Australian Financial Review – August 4, 2021)

August 4, 2021

https://www.afr.com/

Few people have had the sort of front row seat to the rise of electric vehicles as JB Straubel. The soft-spoken engineer is often considered the brains behind Tesla: it was Straubel who convinced Elon Musk, over lunch in 2003, that electric vehicles had a future.

He then served as chief technology officer for 15 years, designing Tesla’s first batteries, managing construction of its network of charging stations and leading development of the Gigafactory in Nevada. When he departed in 2019, Musk’s biographer Ashlee Vance said Tesla had not only lost a founder, but “a piece of its soul”.

Straubel could have gone on to do anything in Silicon Valley. Instead, he stayed at his ranch in Carson City, Nevada, a town once described by former resident Mark Twain as “a desert, walled in by barren, snow-clad mountains” without a tree in sight.

Local 6500 votes for new five-year contract with Vale – by Staff (Sudbury Star – August 3, 2021)

August 4, 2021

https://www.thesudburystar.com/

Strike that began June 1 is over

Local 6500 members have strongly endorsed a new five-year collective agreement with Vale.

“The past two months have been challenging for everyone,” said Dino Otranto, Chief Operating Officer, North Atlantic Operations for Vale, in announcing the deal has been ratified. “We are pleased that the company and the union were able to find common ground and a path forward. We look forward to welcoming everyone back.

“Our task now is to position our business to thrive today and for generations to come. We have many opportunities ahead of us, with the growing electric vehicle market. The nickel, copper and cobalt we produce are critical metals to achieving a low carbon future.

BHP to expand nickel operations to meet soaring demand – by Cecilia Jamasmie (Mining.com – August 3, 2021)

August 4, 2021

https://www.mining.com/

BHP (ASX, LON, NYSE: BHP) will make a final investment decision on a major expansion of the processing plant at its Mt. Keith nickel mine in Western Australia as it invests further in battery metals to meet expected soaring demand.

Nickel is a key component for EVs cathodes, and the world’s no. 1 miner sees nickel demand growing faster than anticipated due to a spike in the adoption of electric vehicles (EVs), as governments commit to decarbonizing their economies and set end dates for combustion engine sales.

“We believe that over 2020 to 2030, overall nickel demand will grow at 5% compound annual growth rate, and that nickel-in-battery demand will grow at a rate of 21% CAGR,” BHP Nickel West president Eddy Haegel told the annual Diggers and Dealers conference on Tuesday.