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The future of critical raw materials: How Ukraine plays a strategic role in global supply chains (World Economic Forum – July 9, 2024)

https://www.weforum.org/

Geopolitical challenges, including the Russian invasion of Ukraine, China-US competition, elections and the war in Israel, significantly impact the global supply chain, especially critical raw materials vital for traditional industries, defence, high-tech sectors, aerospace and green energy.

Democracies rely on essential critical raw materials such as nickel, lithium and aluminium. The market for critical minerals has doubled to over $320 billion in the last five years and is expected to double again in the next five.

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Opinion: The bill is coming for net zero — and it’s big, both politically and economically – by Shannon Joseph (Financial Post – October 15, 2024)

https://financialpost.com/

Net zero talk is all about climate dividends and green opportunity. It’s time to get real about what doubling the electricity supply will cost

Governments across Canada and around the world have been promoting both electrification and net zero. That’s fine, go for it. But please stop saying it’s going to be cheap. It isn’t. And voters will find out.

Today, electricity fulfills about 20 per cent of our energy needs. That means 80 per cent of the energy Canadians rely on is from direct use of natural gas, refined petroleum products and other fuels. What is being proposed in Canada’s electricity strategy is not just fewer or even no emissions from our electricity systems. It is to have electricity provide that other 80 per cent.

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Gold racks up record highs on safe-haven bidding, bullish charts – by Jim Wyckoff (Kitco News – October 17, 2024)

https://www.kitco.com/

(Kitco News) – Gold prices are higher and have notched new all-time highs in midday U.S. trading Thursday. Spot gold hit a record high of $2,697.90 and December Comex futures a new high at $2,712.70.

Safe haven demand amid geopolitical tensions and the uncertainty surrounding the U.S. presidential elections is driving gold prices north. Technical-based buying amid bullish charts is also fueling gains in both gold and silver. December gold was last up $13.30 at $2,704.60 and December silver was down $0.234 at $31.74.

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NEWS RELEASE: Titanium leader Velta introduces Ukrainium™ – the strongest element on earth, reinvented (EIN Presswire – May 17, 2024)

Velta LLC unveiled a groundbreaking method for titanium production, marking a significant departure from the traditional Kroll method established in 1940.

Renowned for its exceptional tensile strength, lightweight nature, biocompatibility, and resistance to extreme temperatures, titanium is highly valued across various industries. Despite its advantages, the environmental toll and the lack of adaptability of traditional production methods have long been limitations. Ukraine boasts one of the world’s most abundant titanium reserves, critical to its economy but recently compromised by the ongoing Russian-Ukrainian war.

“The war has had an extremely negative impact on Ukraine’s titanium industry. However, we’ve already invested more than $7 million and continue attracting investments, which are now at the stage of negotiations. We saw an opportunity to rethink how titanium is produced. The result is so innovative, it deserves to be an element of its own.” — Andriy Brodskyy, founder and CEO, Velta LLC

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Saudi’s Manara in advanced talks to buy stake in First Quantum’s Zambian mines – by Divya Rajagopal, Clara Denina and Felix Njini (Reuters – October 16, 2024)

https://www.reuters.com/

Saudi Arabia’s Manara Minerals is closing in on a deal to buy a minority stake in Canadian miner First Quantum Minerals’ Zambian copper and nickel assets, three people familiar with the details told Reuters.

Manara, a joint venture between Saudi Arabian mining company Ma’aden and its $925 billion Public Investment Fund, is in advanced talks to acquire between 15% and 20% equity in the Zambian assets, the sources said.

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‘We believe Canada needs more nickel,’ Wyloo boss says – by Nicole Stoffman (Sudbury Star – October 13, 2024)

https://www.thesudburystar.com/

Nickel produced and processed in Northern Ontario and the Ring of Fire would be destined for the EV market

Kristan Straub, CEO of Wyloo Ring of Fire, provided an update on the Eagle’s Nest Mine at the State of Mining luncheon in Timmins recently. The mine site in the Ring of Fire in northwestern Ontario has a ‘small footprint’ of one square kilometre or half the size of the Timmins Airport, Straub said.

The site contains a deposit of 17 million tonnes at 3.3 per cent nickel, copper and platinum group elements. It also has some of the world’s largest chromite deposits outside of South Africa, Straub said.

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Amplify the Message: The natural-diamond industry has renewed its category-marketing efforts as it urgently seeks to stimulate demand – by Avi Krawitz (Rapaport Magazine – October 14, 2024)

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There is a sense of urgency to promote natural diamonds this holiday season.

With market sentiment notably weak at the start of the fourth quarter, the industry has a glaring need to raise demand for diamond jewelry at the retail level. This would stimulate trading through the rest of the distribution chain, which has experienced heavy declines.

Natural diamonds have lost market share to synthetics, while the trade also faces headwinds from the slowdown in China and US consumer caution resulting from the rise in the cost of living. It seems the industry has intensified its marketing efforts ahead of the US holiday season.

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Coal mining in the foothills of the Rockies: A tale of two municipalities – by Emma Graney (Globe and Mail – October 14, 2024)

https://www.theglobeandmail.com/

A coal mining proposal has divided two neighbouring municipalities in Southern Alberta – and one of them recently received a blow from the Alberta Energy Regulator, which denied its application for an adjournment of licence hearings for a new coal development.

To the north is Ranchland, a municipality of rolling terrain in the foothills of the Rocky Mountains with around 100 residents. To the south is Crowsnest Pass, a municipality of about 5,700 people. Both picturesque, the two municipalities could not be more different when it comes to their positions on coal mining.

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Rio Tinto to take over Ranger uranium mine cleanup – by Cecilia Jamasmie (Mining.com – October 15, 2024)

https://www.mining.com/

Rio Tinto will carry out the rehabilitation of the closed Ranger uranium mine in Australia’s Northern Territory, a government body has ruled.

The Takeovers Panel’s decision ends a long-running dispute over whether Rio Tinto or its majority owned uranium producer Energy Resources of Australia (ASX: ERA) would assume the site restoration’s costs. It also clears the way for Rio to assume full control of the uranium producer via the company’s capital raising, announced in August.

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Lithium stocks ‘one deal away’ from going on a tear: E&P – by Alex Gluyas (Australian Financial Review – October 15, 2024)

https://www.afr.com/

Australian lithium stocks are just one deal away from a resurgence as investors face a shrinking pool of miners to invest in after Rio Tinto’s $9.9 billion takeover of Arcadium, according to E&P Financial.

The broker said Rio’s landmark deal, which capitalised on the collapse in lithium prices, could trigger a wave of institutional money into the stocks as investors speculate on the next takeover target. “Rio’s acquisition of Arcadium feels like bottom of the cycle M&A,” wrote E&P analyst Adam Martin in a report to clients.

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Greater Sudbury to study the well-being of mining communities – by Staff (Sudbury Star – October 9, 2024)

https://www.thesudburystar.com/

Federal government will pay for $150,000 report

The City of Greater Sudbury will get $150,000 from the federal government to study how to improve well-being in Northern Ontario’s mining communities.

“We know that Northern Ontario is home to a world-class mining and mining supply and services sector and this study will allow us to identify our competitive advantages and share lessons learned with fellow OECD members, Greater Sudbury Mayor Paul Lefebvre said in a release.

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China’s Still Backing Overseas Coal Plants After Ban, Says CREA (Bloomberg News – October 14, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Chinese firms and banks continue to support the expansion of coal power overseas, three years after President Xi Jinping promised to end the practice, according to new research.

Some 8.6 gigawatts of previously unannounced Chinese-backed coal-fired power plants have entered construction or the pre-permitting phase in the past year in places like Southeast Asia and Africa, the Centre for Research on Energy and Clean Air said in a report on Tuesday.

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Israeli mining magnate Beny Steinmetz held in Greece on Romanian arrest warrant – by Agencies and ToI Staff (Times of Israel – October 14, 2024)

https://www.timesofisrael.com/

Businessman detained hours after arriving on private aircraft at Athens International Airport; Romania has convicted him in absentia for real estate fraud

French-Israeli diamond mining magnate Beny Steinmetz was detained in Athens on an arrest warrant issued by Romania, police and legal sources said on Monday. The 68-year-old was detained on Sunday, hours after arriving on a private aircraft at Athens International Airport, police sources said.

A European arrest warrant was issued against him on behalf of Romania on accusations related to being part of a criminal organization, a police official said on condition of anonymity. Steinmetz was expected to appear before a prosecutor later Monday.

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‘Far too dependent on China’: trade tensions still hot as graphite producers request tariffs – by Gabriel Friedman (Financial Post – October 15, 2024)

https://financialpost.com/

The trade group said it faces a “pivotal” moment before demand exponentially increases

The North American Graphite Alliance on Thursday called on Canada to enact 25 per cent tariffs on six Chinese products used to make batteries, further amplifying trade tensions around the electric vehicle supply chain.

Graphite is used in lithium-ion battery anodes, and Canada produced around one per cent of the global total in 2022. The trade group said it faces a “pivotal” moment before demand exponentially increases from the EV transition and that it needs protection from China.

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Canada’s nuclear watchdog green-lights operation of aging Pickering reactors to 2026 – by Matthew McClearn (Globe and Mail – October 11, 2024)

https://www.theglobeandmail.com/

Canada’s nuclear safety regulator again extended a crucial permit for the country’s oldest nuclear power plant on Friday, allowing it to continue operating beyond its original design life.

On Friday the Canadian Nuclear Safety Commission authorized its owner, Ontario Power Generation, to operate the Pickering Nuclear Generating Station for an additional two years, to Dec. 31, 2026. The extended permit applies only to its newest four reactors, Units 5 through 8, which are collectively known as Pickering B. Those reactors entered service between 1983 and 1986.

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