Republic of Mining

Can Indonesia provide Tesla with sustainable nickel? – by Steven Brown (July 25, 2020)

September 3, 2020

Elon Musk recently made headlines again by asking mining companies to produce more nickel and promising big contracts from Tesla. However, Musk’s promise has a big catch: he only wants nickel that is produced in a responsible manner.

Musk’s plea for more nickel comes at an interesting time. There’s certainly no shortage of nickel; not now and not in the foreseeable future. The world has Indonesia to thank for this. Indonesian nickel production has grown from around 100,000 tonnes of processed nickel in 2014, to over 600,000 tonnes in 2020.

It will likely to reach 1.1 million tonnes of nickel by 2022. This sort of growth in unheard of, and will see Indonesia producing half of the world’s nickel in the next two years.

Lawmakers Seek to Curb U.S. Reliance on China for Rare Earths – by Joe Deaux (Bloomberg News – September 1, 2020)

September 3, 2020

https://www.bloomberg.com/

U.S. House lawmakers introduced a bipartisan bill aimed at reducing dependence on China for rare earths used in everything from electric vehicles to missiles to wind turbines.

The legislation co-authored by Republican Lance Gooden and Democrat Vicente Gonzalez, both of Texas, is similar to that introduced in May by Senator Ted Cruz.

The measure would give tax incentives for companies involved in the mining, reclaiming and recycling of critical minerals and metals from deposits in the U.S.

No matter how you slice it, markets are in a bubble of historic proportions – by David Rosenberg (Financial Post – September 3, 2020)

September 3, 2020

https://financialpost.com/

We are in a huge bubble now. Vaccine or no vaccine. Economic and earnings recovery or not. With or without the massive monetary creation by the U.S. Federal Reserve. This is a bubble of historic proportions.

Some will say that the valuations are supported by interest rates. Frankly, real 10-year rates moved into negative terrain in January, before the stock market plunged and before the recession began. Now, they have become even more negative.

There is actually no such thing as a free lunch and the thing about negative rates is that they coexist over time with a flat economy. And that economy is where earnings are derived from.

All eyes on Windfall: Osisko Mining maintains scorching pace at Quebec gold project. – by Alisha Hiyate (Canadian Mining Journal – September 1, 2020)

September 1, 2020

https://www.canadianminingjournal.com/

The Canadian Malarctic mine in Quebec was supposed to become the cornerstone asset of Osisko Mining as the company, which discovered and built it, grew into a bigger and better intermediate Canadian gold producer.

Having been forced to sell the last company he built with partners Sean Roosen and Bob Wares, after putting together an irresistable asset, John Burzynski has put some thought into how to defend his current venture, the new Osisko Mining, from a hostile takeover.

“Land mines,” he jokes. “And barbed wire,” Burzynski says, laughing. “I wish!”

Remember This? Mowat and MacGillivray — [Mining] stock market swindlers – by James Powell (Ottawa Matters – August 31, 2020)

September 1, 2020

https://www.ottawamatters.com/

Two young men were sent to jail for taking advantage of Ottawans during the 1920’s before watching their network come crumbling down due to the Great Depression.

August 30, 1930

It was Saturday, August 30, 1930. Two men, soberly dressed in dark suits, waited quietly in an Ottawa courtroom to hear their fate, as they had just pleaded guilty to conspiring to defraud the public and to manipulating the prices of mining companies’ shares.

Judge Daly broke the news — three years for each of them in the Collins Bay Penitentiary. It could have been worse.

The law allowed for a sentence of up to seven years for their crimes, but they had hoped to get away with just two. However, Justice Daly said that he couldn’t see how a sentence of less than three years would meet the circumstances. He had to look toward to future cases and this would set a precedent. After the pair received their sentences, former colleagues came up to shake their hands and offer condolences.

Friedland’s Nimba iron ore project to get World Bank backing – by Cecilia Jamasmie (Mining.com – August 31, 2020)

September 1, 2020

https://www.mining.com/

The World Bank is said to be mulling an $135 million investment in the proposed Nimba iron ore mine in southeastern Guinea, which is owned by Canada’s High Power Exploration (HPX), a privately-held company founded my mining mogul Robert Friedland.

The move by MIGA, the bank’s agency for foreign investment, would help HPX deal with potential political risks associated with the mine’s exploration phase, including the completion of key studies preceding Nimba’s construction and operations.

MGA’s involvement could prove crucial for both the Guinean economy and the local biodiversity, Africa Intelligence reports.

Are Radioactive Diamond Batteries a Cure for Nuclear Waste? – by Daniel Oberhaus (Wired Magazine – August 31, 2020)

September 1, 2020

https://www.wired.com/

Researchers are developing a new battery powered by lab-grown gems made from reformed nuclear waste. If it works, it will last thousands of years.

IN THE SUMMER of 2018, a hobby drone dropped a small package near the lip of Stromboli, a volcano off the coast of Sicily that has been erupting almost constantly for the past century.

As one of the most active volcanoes on the planet, Stromboli is a source of fascination for geologists, but collecting data near the roiling vent is fraught with peril.

So a team of researchers from the University of Bristol built a robot volcanologist and used a drone to ferry it to the top of the volcano, where it could passively monitor its every quake and quiver until it was inevitably destroyed by an eruption.

BHP CEO eyes pivot to potash, but Nutrien chief warns new mines make ‘no sense’ – by Gabriel Friedman (Financial Post – August 31, 2020)

September 1, 2020

https://financialpost.com/

Potash is one of the few “future-facing” commodities that BHP Group, one of the world’s largest miners, expects to produce in the future, according to Mike Henry, the chief executive of BHP Group.

Henry said that when the company takes stock of the “megatrends” occurring in the world, such as decarbonization and the electrification of vehicles, it sees potash, a fertilizer salt that enriches crop quality and quantity, as a smart bet.

“I’ve been clear that BHP needs to increase its exposure to future facing commodities and that includes things like copper, nickel and potash,” Henry said in an exclusive interview with the Financial Post.

NEWS RELEASE: Golden Celebration of Arctic Culture and Natural Resources Headlines Royal Canadian Mint’s September Collector Coin Launch

September 1, 2020

OTTAWA, ON, Sept. 1, 2020 /CNW/ – The Royal Canadian Mint has proudly issued a new collector coin crafted entirely of Nunavut-sourced gold. Entirely Arctic, from its design to its metal content, the reverse of the 2020 $10 Pure Gold Coin – An Inuk and a Qulliq, is the creation of Nunavut artist Ulaayu Pilurtuut.

Motifs of a traditional qulliq, an Inuit oil lamp that provides light and warmth, as well as inuksuit, symbolizing community and guidance, are powerful symbols of the artist’s culture and way of life. This beautifully crafted 1/20th oz. pure gold coin, along with several other numismatic keepsakes, launched today.

Another pure gold creation is the newest instalment in the 1/10th oz. pure gold coin series marking the 100th anniversary of the birth of legendary Canadian painter Alex Colville. The 25-cent illustration of a lynx appears on the third release from this six-coin series, which reinterprets each of the 1967 circulation coins designs he created in honour of Canada’s centennial.

Alberta company seeks judicial review of Ottawa’s reversal on Vista coal mine – by Emma Graney (Globe and Mail – September 1, 2020)

September 1, 2020

https://www.theglobeandmail.com/

A company seeking to expand its Alberta coal mine is taking the federal government to court, arguing Environment Minister Jonathan Wilkinson overstepped his jurisdiction to appease “political activists” when he decided to review the project.

Mr. Wilkinson decided last December to keep the federal government out of the approvals process for expansion of the Vista coal mine, located in the foothills of the Rocky Mountains about 40 kilometres east of Jasper National Park.

But last month he changed his mind, saying the project would have “significant” environmental effects that fall under federal jurisdiction, triggering the need for an assessment.

Poland’s coal phase-out ‘feasible’ by 2035 – by ELENA SÁNCHEZ NICOLÁS (EU Observer – August 2020)

August 31, 2020

https://euobserver.com/

Poland’s coal phaseout should take place by 2035 if the government does not interfere, according to a new report of the environmental group Greenpeace Polska.

Polish state-run utilities PGE, Enea, and Tauron, which own 94 percent of coal-fired power plants in the country, are expected to close by 2035 because of their life plan and unfavourable market conditions.

However, Greenpeace is concerned that the Polish authorities will extend the operating life of these utilities after national media uncovered that the government plans to subsidise coal-fired plants until 2040.

Cheaper diamonds fire life into the hidden world of gem trading (Bloomberg News/Mining Weekly – August 31, 2020)

August 31, 2020

https://www.miningweekly.com/

For the past six months, the global diamond hubs in Antwerp, Belgium, and Mumbai have been at a standstill, with cutting and polishing factories closed and trading floors shuttered.

Now, a capitulation on prices by the biggest miners is sparking the industry back to life. After refusing to budge on diamond prices during much of the pandemic, De Beers and Russian rival Alrosa PJSC decided last week they saw enough signs of recovering demand and seized the opportunity, cutting some prices by almost 10%.

The impact was instant, as rough diamond buyers snapped up about half a billion dollars in uncut gems, according to people familiar with the situation who asked not to be identified because the information is private.

China poised to overtake US in nuclear power by 2030 – by Kotaro Fukuoka (Nikkei Asian Review – August 31, 2020)

August 31, 2020

https://asia.nikkei.com/

TOKYO — China is on track to surpass the U.S. as the world’s top producer of nuclear energy as early as 2030, reflecting hesitance to build new capacity in Japan and Western nations even as emerging economies move ahead.

China’s total nuclear power generation capacity, including reactors under construction and in planning, came to 108,700 megawatts as of April, more than America’s 105,120 MW, according to the World Nuclear Association, an industry group.

The trend reflects diverging approaches to nuclear power after the March 2011 Fukushima meltdowns in Japan. While the U.S., Europe and Japan grew risk averse in response to public fears, emerging nations have been keener.

BHP maps out priorities in quest for ‘future-facing’ commodities – by Nick Toscano (Brisbane Times – August 31, 2020)

August 31, 2020

https://www.brisbanetimes.com.au/

The head of Australian mining giant BHP says new plans to boost exposure to the “future-facing” commodities nickel and copper will focus first on exploring for new deposits and finding ways to extract more from existing assets, rather than looking for acquisitions.

As BHP embarks on a clean-up of its portfolio by seeking to sell several coal mines, quit thermal coal and exit the Bass Strait oil and gas fields, it has also laid out plans to lift exposure to commodities that chief executive Mike Henry believes will be increasingly required to meet the world’s evolving needs, such as the manufacture of clean energy technologies.

Asked whether BHP would seek acquisitions to secure more options in commodities like nickel, copper and potash, Mr Henry said “maybe”, but only if the right opportunities presented.

Deep-Sea Mining: How to Balance Need for Metals with Ecological Impacts – by Daniel Ackerman (Scientific American – August 31, 2020)

August 31, 2020

https://www.scientificamerican.com/

As the industry inches closer to reality, scientists probe potential environmental harms

Slashing humanity’s reliance on fossil fuels will require billions of kilograms of metal: a single wind turbine can contain more than a metric ton of copper, and electric car batteries demand heaps of cobalt, nickel and manganese.

Most of these metals now come from terrestrial mines—often at the cost of deforestation, water pollution and human rights abuses. But a vast trove of metals on the deep-sea floor could soon provide an alternative source.

Though companies have been eyeing this possibility for decades, engineering challenges and unfavorable economics have kept work in the exploration phase.