A more careful and diligent approach to developing and expanding iron ore mines could see longer project timelines. Platts expects Chinese steel production to keep growing at 1%-2% in the next couple of years. Mining for Gold and Other Metals in 2021 and Beyond December 7, 2020 At the end of any year and certainly this one, the lucrative gold mine investment goes on the gift list. In fact, from practically the time your blogger started covering the iron ore and steel industry—from Shanghai in May 2008, the month of Fortescue Metals Group’s inaugural shipment—he was told: “Don’t get excited by all the hype now, there will be a massive oversupply in a few years. Yes, there are mine replacement in Western Australia projects (more on this later), and Fortescue’s new Iron Bridge magnetite project. Listen: Are high Indian steel prices an outcome of supply shock or is a demand revival a reality? “What is more, it is likely to have been driven to a large extent by speculation.”. Monitor the latest mining trends with our proprietary research reports covering exploration, development, production, mine cost analysis, M&A, finance, and commodity market forecasts. The 1.63% spread on Dec. 11 with the forward midpoint was the narrowest to the physical spot price since January. At this stage, Platts does not provide a formal iron ore price forecast. Some analysts feel iron ore prices have been spurred on by recent speculative demand, and stronger trade in derivatives around changes in forward iron ore supply and economic policies that may support steel demand. Meanwhile, Trump administration policy objectives that could fuel domestic demand for metals, such as an infrastructure program, have yet to manifest. Opinion 14 October 2020 Metals and mining: an industry at a crossroads; Opinion 19 June 2020 Metals and mining: who gets hit hardest by an economic slump? In 2019, out of 66 companies belonging to the steel or metals and mining sectors that provided information on their workforce gender split, total female participation ranged from 3% to 29%. Ukraine has reduced export of ferroalloys. Even with higher steel prices, the potential for margins to support iron ore prices and higher pellet premiums could be limited, […]. "Precious Metals and Mining Trust is an investment trust operating in Canada. Even with higher steel prices, the potential for margins to support iron ore prices and higher pellet premiums could be limited, a steel group executive said Dec. 14. This is therefore merely a personal view based on observing the market closely for almost 13 years. S&P Global Platts Asian Steel Markets Editor Ashima Tyagi discusses these issues and more with Head of APAC Metal Insights Paul Bartholomew. LONDON--(BUSINESS WIRE)--The metals and mining industry is plagued with various challenges, and companies need to adopt new strategies to … Given the recovery in other steel markets, China’s finished steel exports are tipped to increase next year. Russia reduced exports of non-ferrous metals in January-October. BHP in 2016 set a goal to achieve 50% female participation across its workforce by 2025. Wrathall said he hoped Cornish Lithium would be able to start production in 3-5 years at a level of at least 10,000 mt/year of lithium carbonate equivalent and possibly more — a round of drilling due to start in January could expand production possibilities. The consumption of aluminium in Russia may decline by at least 30% this year, compared... Africa-focused miner Centamin has announced plans to invest some US$595 million in its Sukari gold... Metso Outotec is reorganizing its Metals business as part of the earlier announced turnaround program.... Golden Birch Resources Inc. The event at a glance As the industry continues to adapt and respond to the COVID-19 pandemic, thought leadership, market transparency, and a forum to network all have become. Q1 is also the period when adverse weather conditions impact iron ore operations in Australia and Brazil, resulting in lower export volumes. There is... @PlattsOil: Join S&P Global on September 17th to discuss the tumultuous oil events,... PlattsOil: Sign up now: Do you know how price assessements work at S&P... S&P Global Platts IODEX 62% Fe fines benchmark. Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry. Even as S&P Global Platts IODEX 62% Fe fines benchmark fell Dec. 14 to $154.50/dmt, total pellet prices indicated well above earlier levels, potentially in the $170s/mt FOB range, may be displaced by more lump or lower grade alternatives as buyers question the longevity of higher steel and iron ore spot prices. Answering Mining's Big Questions. The technologies will allow for the development of low-carbon extraction of lithium from zinnwaldite and polylithionite mica ores in the St Austell region. Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in … When Chinese steel output seemed to go into reverse from 2014, the view was that Chinese steel consumption and output had peaked. These can include weather events and environmental factors, operational outages and disasters, government policy changes (especially in China)—and heavens above, a global pandemic. But of course, my crystal ball is just as cloudy as everyone else’s…, London — UK explorer Cornish Lithium is to accelerate its Trelavour project near St. Austell, Cornwall, after metallurgical tests resulted in the production of nominal battery-grade lithium hydroxide. “This potentially gives the UK security of supply.”. This year, China looks on track to export around 54 million mt of steel, compared with 75 million mt in 2019. Consolidation in the carrier... PlattsOil: Risk and governance: Essential insight, visionary solutions..... APPEC goes virtual. In October, Vale said it would reach 400 million mt by early 2023 at the latest. Interviewees highlighted the need for diversity policies to be comprehensive, covering not only gender but also ethnicity and national diversity, LGBTQ+ representation and issues of social mobility, disability and mental health. Data from the SAM Corporate Sustainability Assessment (CSA) provides a snapshot of an industry that is gradually improving, but still has far to go to achieve gender parity at the levels of senior management and board. The iron ore forward market has always been in backwardation, below spot physical prices. Taken together, these drivers point to upward support rather than downward pressure in the iron ore market, in the short-to-medium term at least. More than a third of respondents believed their iron ore requirements would increase in Q1, while 42% thought they would stay the same as in the current October-December quarter. Dec 10, 2020 Omineca Announces the Commencement of Dewatering at Wingdam. It is hard to see where the estimated hundreds of millions of tons of new supply over the next few years, built into some projections, are coming from. While Cornish Lithium advances development of Trelavour, Wrathall said it would continue in parallel with its project to extract lithium from its geothermal water project in Cornwall. It is worth noting that the first quarter of each year contains China’s Lunar New Year holidays when markets close for at least a fortnight. Mobile App Our Services News publishing, tag articles Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411 It is planning to immediately proceed towards bulk metallurgical testing and the construction of a pilot plant using the so-called L-Max and LOH-Max technologies. Metals turn into insulators using a new quantum switch. We are a comprehensive, electronic news gathering and translating service for breaking-news in the Mining, Metals, Oil, Gas and Energy sectors in Russia and the surrounding Republics. Cornish Lithium said it had acquired a license for Lepidico’s technology and had also signed a collaboration agreement with Lepidico to further develop them. While the raw figures show there is still a way to go to achieve gender parity in metals and mining companies, momentum appears to be building, and the growing importance of ESG to investors is also likely to help speed up progress. “When I visited China back in 2003. “I can understand why quotas and metrics are put in place, but more is needed to drive the right change in behavior for the long-term,” said World Coal Association CEO Michelle Manook, adding that more is needed in terms of alignment across corporate strategy, culture and leadership. Many were skeptical (including this author) when Rio Tinto and BHP routinely trotted out the view a few years back that China would produce 1 billion mt of crude steel by 2025-2030. Some 52% of respondents saw infrastructure construction as the major driver of steel consumption in Q1, with only 16% nominating property construction. SASKATOON, SK – December 10, 2020 – Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company"), announces that it has commenced dewatering and decline rehabilitation activities at the Company’s underground placer gold project at Wingdam in the Cariboo Mining District of south-central British Columbia. The midpoint value is typically 2%-5% lower than the underlying spot physical price. I was told that the canary could go underground, but I wasn’t allowed to because that was bad luck,” said Melinda Moore, finance director and head of global outreach at Women in Mining, a voluntary organization that works to advance women’s representation in the sector. Manufacturing has recovered strongly in recent months and global supply chains have been restored, helping China’s exports to resume. As well as the many highlights discussed in the interviews, a number of the world’s biggest metals and mining companies have publically set themselves hard targets to improve their gender balance. Wrathall said the company had identified a former china clay processing site connected to the coast by rail that Cornish Lithium should be able to get control of over in the next year for the production plant. Collectively, their careers span almost every continent and a wide variety of roles and products. As such, housing sector growth is expected to be flatter in 2021. Cleaner sectors have growing investor appeal, which is one reason for the current buzz around hydrogen. News and opinion on metals used in electric vehicle and energy storage batteries including cobalt, vanadium, lithium, graphite and nickel. “However, we believe that the price rise has long been exaggerated,” Briesemann said. Metals & Mining ETF News Features and News “The UK is now the poster child for environmental sustainability, and critical to that is having access to the raw mat such as lithium for the batteries that will allow our transition to an electric, renewable future,” Wrathall said. Metals and Mining Review, the Best source for industrial news, top metal and mining business and technology updates, news on technology implementation in Industries and corporate news and also lists the latest product released in metal mining industry. Newmont chair of the board of directors, Noreen Doyle, noted the importance of providing well-fitting protective clothing so that women feel part of the team, while Moore praised initiatives in Papua New Guinea to regularly assess risks and hazards to women in mines, and conduct annual audits to make sure women are safe. Iron ore futures have seen higher relative pricing to physical indexes in recent days. NEW YORK, Dec. 4, 2020 /PRNewswire/ -- Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals and Mining … Santiago, Chile — Lundin Mining is assessing the feasibility of a restart of operations at its Candelaria copper mine in northern Chile after workers voted to end a month-long strike at the operation, the company said. It includes questions on workforce diversity and gender pay gap. Instead, things took off again in 2016, helped by some capacity reduction and a property construction boom. 16/12/2020 - 16:27. There’s not much point building ambitious volumes into a supply-demand model when companies keep missing their current year targets. As steel output recovers from weaker rates in the second quarter, and China reduces steel and metallics imports and reassumes net export steel trade, spot steel prices may start to fall back, a steel mill source said. The investment objective of the company is to provide long-term capital appreciation and monthly cash distributions. Metals Headlines PRECIOUS-Gold climbs on U.S. stimulus hopes post Fed statement Gold rose on Wednesday on prospects for more stimulus measures after the … In the meantime, established mills such as Vietnam’s Hoa Phat are adding blast furnaces. However, scarcity of supply remains a concern as demand recovery across sectors resurfaces after a long period of subdued activity. There is a massive amount of new integrated steelmaking capacity planned for Southeast Asia in the next few years. The Platts 62% Fe iron ore fines benchmark has risen 30% since the start of November, hitting a seven-year high of $160.70/mt CFR North China on Dec. 11. Most analysts see them dropping by roughly $5-$10/mt each year over the next four years, to an average of $95/mt in 2021, $85/mt in 2022, $$75/mt by 2023 and $70/mt in 2024. Opinion 15 December 2020 Faster decarbonisation and mining: a crisis of confidence or capital? Cornish Lithium was fast tracking the project and path to commercial production in line with the UK government’s initiative to bring forward its electric vehicles targets to 2030 from 2035, according to Wrathall. The demand side of iron ore will remain extremely strong – and it won’t just be coming from China (see below). Above all, the experiences and viewpoints shared in the following interviews represent a range of exceptional achievements – both personal and collective – that should be celebrated. Members of the Candelaria AOS union voted to accept the latest offer from management on November 19, ending a […] S&P Global Ratings includes ESG factors in its criteria for evaluating companies and they are likely to play a larger role over time. Quite simply, the iron ore industry cannot afford another Samarco, Brumadinho or Juukan Gorge. Following on from the above point, there are a number of significant mine replacement projects due to start in the Pilbara region of Western Australia. The company already has over 50% female representation on its board of directors. But the consensus continues to be that iron ore prices will fall markedly in coming years. Will the majors maintain overall production and export volumes as new operations are brought online? Some 62% of participants said iron ore prices would remain above $120/mt CFR China in Q1, […]. RF reduced gold production in January-September by 0.6% - Union of Gold Producers. India’s Tata Steel aims to have 25% women in its workforce by 2025, compared with 17% currently, according to its latest annual report. Bill Matlack Tuesday December 15, 2020 15:25. Latest articles by Julian. “We wonder how long Chinese iron ore consumers will simply sit back and accept the high prices,” Commerzbank said. Cornish Lithium CEO Jeremy Wrathall told journalists on a phone call Lepidico had already invested A$27 million ($20 million) in the technology to be used over six or seven years. Hundreds of affiliate Metals Sites that focus on precious metals, base metals, rare earth metals, steels and more. Mobile App Our Services News publishing, tag articles Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411 Commodity forecasting is a difficult business at the best of times. The interviews in this special report present 13 women who have demonstrated great leadership in metals and mining, with careers spanning many geographies, subsectors and roles. Over time, the region could pick up any fall in demand for iron ore from China, Japan and South Korea. Mining Weekly covers real-time news on mining projects across a range of minerals including gold, platinum, diamonds, copper and ferrous metals. METALS AND MINING TOP NEWS. Despite its increasing sophistication—automated logistics, use of big data, control centers 1,500 km away from the mine site, etc—mining is still essentially about digging holes and transporting material on trains and ships; there are many things that can go wrong along the supply chain. “In response to prolonged and pronounced price rises in the past, they have tended to resort to the ample but lower-quality domestic iron ore, using their market power to force prices down.”. Most of the mooted new projects will probably get no further than the drawing board. Box 6219     102 34 Stockholm In December, the Brazilian company downgraded its 2020 target from 310 million-330 million mt to 300 million-305 million mt. Read the latest gold prices as well as short and long-term forecasts for other key metals. It is also important to highlight the additional layer of discrimination faced by many women because of their ethnicity, a challenge mentioned by some of our interviewees. The iron ore price on Singapore’s SGX and on the Dalian Commodity Exchange hit a record high, based on demand due to high Chinese steel production, and concerns about supply, Commerzbank analyst Daniel Briesemann said in a Dec. 11 report. Many of the women described the discrimination they faced in entering particular jobs or progressing their careers, with several mentioning superstitions that even recently prevented women from working underground. As part of the MMBI initiative, the companies will pool resources and cost, as well as improve industry-wide trust, which cannot be achieved by acting individually. ... Metals & Mining analysts' ratings & estimates - senior. METALS AND MINING NEWS. But one would have to think some new capacity will be built—especially as the lion’s share is being funded by Chinese companies, which could potentially benefit from Belt & Road Initiative borrowing terms. The China market is typically unable to absorb higher iron ore pellet prices in the long term due to shifting value in use with steel margins, and alternatives, an international iron ore marketer said. Fortescue Metals Group in 2019 signed the ParityPledge – a commitment to interview at least one qualified woman for every executive position. Agriculture, Energy Transition, LNG, Gas & Power, Shipping, Refined Products, Metals & Mining. Investors have walked away from thermal coal, and many are snubbing metallurgical coal. Based on both actively participating companies and publically available information, in 2019 only 40 out of 88 companies in the sector had a board diversity policy that included gender factors.*. Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals and Mining … But here’s why I think an overly bearish outlook on medium-term prices may be wrong: There is little in the way of meaningful net new supply guaranteed to hit seaborne markets in the next 2-3 years. Vale, the biggest iron ore miner, this month cut production guidance for 2020, while industry sources see strong iron ore demand in China, and tight pellet availability keeping near-term prices up. Cornish Lithium said Dec. 7 the tests were carried out using fellow lithium explorer Lepidico’s proprietary technology on samples obtained during a hard rock drilling program this […]. Most participants saw exports at 60 million-80 million mt in 2021, while only 12% saw them higher than this level. London — Iron ore prices have risen to unsustainable levels supported by stronger futures pricing, according to steel mills who are enjoying high spot steel prices as they recover output from earlier this year. While relatively few of the companies surveyed volunteered private information on their executive remuneration ratios, based on the 20 that did respond, on average male executives across the two sectors earned 21% more than females. Why Metals and Mining Stocks Aren't Joining Today's Rally ... With the news on the presidential election more universally accepted, and the equity … But in the case of key steelmaking raw material iron ore, analysts, consultants and industry experts, and often market players themselves, have consistently got the price outlook wrong—typically on the low side. The company had been testing the environmental acceptability of the Trelavour project for two years, he said. Will India’s domestic market continue showing strength in the near term and break further records? Economic Commentary; Economic Calendar; Global Economies; Saturday - December 12, 2020 Metals and Mining News The market remains cautious about the sustainability of high prices amid the possibility of recurring COVID-19 waves and domestic iron ore shortages. In other words, a lot of tons of iron ore depend on successful tie-in work, commissioning and ramp-up of new projects. Metals & Mining Review is one of the topmost business and technology magazine in the Metals & Mining industry which shares the latest technology news, articles and trends in Metals & Mining Field. The World Economic Forum’s (WEF) Mining and Metals Blockchain Initiative has launched a proof of concept for its Carbon Tracing Platform, named the COT. Bumper profits incentivized Chinese mills to build new capacity and lift output. But planned capacity and actual production are two different things. In February, we will discuss the industry’s response to the pandemic as well as evolutions in the marketplace and reverberations from the 2020 U.S. election. More Interest Rate Drops Possible:BoC . Mining, metals and minerals in a circular economy By: Andrew Cheatle and Elizabeth Freele December 4, 2020 We are all familiar with the principles and practice of recycling and re-using, and for many it is a common practice of daily life. GMA- Lifetime Achievement Award: Rannveig Rist. Frågor, idéer och kommentarer om webbplatsen är varmt välkomna. BHP will launch its new South Flank operation in 2021 that will replace the 80 million mt/year Yandi mine. For the first time since the Outlooks began in late 2019, a sizeable number (32%) of respondents said manufacturing would play a bigger role for demand in 2021. Metals & Mining The latest in metals & mining industry news from MarketWatch. They also stand as examples of what is possible in sometimes extremely challenging circumstances, suggesting even greater possibilities if the current barriers to working in the industry continue to be steadily demolished. On the day this blog was written, the S&P Global Platts IODEX 62% Fe benchmark stood at $160.70/mt CFR China, 70% higher on the year before. Rio Tinto has been beset by operational issues this year, and has downgraded its full-year production guidance more than once. These can include weather events and environmental factors, operational outages and disasters, government policy changes (especially in China)—and heavens above, a global pandemic. The 2020 Global Metals Awards have gone digital - join us to celebrate with our finalists and find out who this year's category winners are, The 2020 Global Metals Awards have gone digital – join us to celebrate with our finalists and find out who this year’s category winners are, Commodity forecasting is a difficult business at the best of times. Investors back overhaul of Australian mining sector following caves inquiry Wed, Dec 9th 2020 JPMorgan says gold will suffer as institutional investors buy into bitcoin From 2014, the Brazilian company downgraded its full-year production guidance more than once has. Price rise has long been exaggerated, ” Briesemann said conditions impact iron ore market... Of affiliate metals Sites that focus on precious metals, such as ’... The most-recent ETF launched in the last four years, it has metals and mining news raise... In 2021, while only 12 % saw their iron ore forward market has always been in,! 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APPEC goes Virtual and issuers... 15 December 2020 Faster decarbonisation and mining companies sent seismic waves through Global #.! The market closely for almost 13 years or is a demand revival a reality Sites that focus on metals... Diamonds, copper and ferrous metals Vietnam ’ s central government has tried contain! Looks on track to export around 54 million mt by early 2023 at the of! Portfolio of the company already has over 50 % female participation across its workforce by 2025 2-week high, 3rd. Mt in 2021, while only 12 % saw their iron ore needs declining Q1! The Aluminum Virtual Symposium 2021 jakob Stausholm will have to rebuild Rio s., base metals, rare earth metals, rare earth metals, as. The physical spot price since January large extent by speculation. ” expected to be in...

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