Rohstoffe, Angebot/Nachfrage - 500 Beiträge pro Seite

[Popeye82]

im Endeffekt alles -auch warum eingestelltes vielleicht falsch sein sollte, und so- zum Thema kann hier rein.
Auch (durchschnittliche?)Kostenstrukturen der Förderer, und so Zeug.
Folgend einige Graphiken, Langzeitbetrachtungen und Schätzungen.
















www.mining.com/charts-chasm-between-future-lithium-supply-de…

[codiman]

Kupfer: Das Ende der Preisschmelze
Wirtschaftsaufschwung und Angebotsengpässe könnten bei Kupfer & Co für höhere Notierungen sorgen. Mit einem Zertifikat lässt sich auf den Preisanstieg wetten.

von Andreas Höß, Euro am Sonntag

Von 2011 bis 2013 sind die Preise für Industriemetalle drastisch gefallen. Seit Jahresanfang stabilisierten sich die Notierungen für die konjunkturabhängigen Metalle wieder und haben in den vergangenen Wochen sogar angezogen. Der Grund: Das jahrelange Überangebot scheint vorbei. Zugleich könnte die Nachfrage zunehmen, weil sich neben der US-Wirtschaft auch China erholt.

Man halte am Wachstumsziel von 7,5 Prozent in diesem Jahr fest, sagte Ministerpräsident Li Keqiang am Montag am Rande des Besuchs von Kanzlerin Angela Merkel in Peking. Das heißt: China könnte erneut riesige Konjunkturpakete auflegen. Schon im Juni war bekannt geworden, dass die Regierung die Wirtschaft mit Milliarden stützt und die Staatsausgaben um knapp ein Viertel gesteigert hat. Die Geldspritze spürt man bereits. Die Stimmung unter Chinas Einkaufsmanagern ist gestiegen, was auf höhere Industrieproduktion schließen lässt.

Glaubt man der Investmentbank Morgan Stanley, würden von weiteren Geldspritzen vor allem die Industriemetalle profitieren. China ist der größte Rohstoffimporteur der Welt und braucht beispielsweise Zink und Nickel für die Stahlproduktion. Bei beiden Metallen gab es bereits wegen Minenschließungen und einem Exportstopp in Indonesien Angebotsengpässe. Auch bei Kupfer und Aluminium sinkt das Angebot, während die Nachfrage beispielsweise aus der Automobilindustrie und dem Technologiesektor steigt.

Anleger können mit einem Zertifikat (ISIN: DE 000 A0K RKG 7), das den Bloomberg Industrial Metals Sub­index abbildet, auf einen Preisanstieg bei Kupfer & Co setzen.


Gute Idee, ich habe mich vor ein paar Monaten in den Rohstoffsektor eigekauft und mein Depot zu 25 % umgestellt

- Gold ETF, Iamgold
- Silber ETF
- Zink (Nyrstar)
- Kupfer (KAZ..)
- Einsenerz (Vale)
- Molydaenium (China Moly)

[codiman]

Sehr interessant !

12.09.2014 11:11
Chinas globaler Rohstoffplan geht nicht auf

Von Wayne Arnold

CAPE PRESTON, Australien--Eine Mine in einem abgelegenen Teil Australiens ist ein gutes Beispiel dafür, was bei Chinas jahrzehntelangem Versuch, sich auf der ganzen Welt mit Rohstoffen einzudecken, alles schief gegangen ist. Es hat mehr als acht Jahre und den Einsatz von etwa 10 Milliarden US-Dollar gebraucht, um die Mine in der Nähe eines abgelegenen Hafens in Betrieb zu nehmen.

Die Eisenerzmine von Citic Pacific hat am Ende fast das Vierfache des ursprünglich veranschlagten Budgets gekostet. Analysten, die das Projekt verfolgen, rechnen damit, dass es in seinem ersten vollen Betriebsjahr 2014 Hunderte von Millionen Dollar an Verlust machen wird.

Das alles kommt nicht von ungefähr. Citic Pacific, ein in Hongkong beheimatetes Tochterunternehmen der staatseigenen chinesischen Finanz- und Investmentgesellschaft Citic Group, hat sich zusammen mit ein paar Auftragsfirmen eine Reihe von groben Schnitzern bei dem Projekt erlaubt. So glaubte man, einfach Arbeiter aus China zu Dumping-Löhnen vor Ort beschäftigen zu können. Und dann verbockte Citic Pacific auch noch eine Wette auf Währungsentwicklungen und war am Ende gezwungen, sich von der Muttergesellschaft mit Rettungsgeldern in Höhe von 1,5 Milliarden Dollar aus der Patsche helfen zu lassen.

Jetzt endlich exportiert die Sino Mine Eisenerz - aber gleichzeitig ist Citic immer noch in einen Rechtsstreit mit einem lokalen Partner verwickelt. Der Immobilien- und Bergbaumogul Clive Palmer, der inzwischen als Führer einer von ihm gegründeten Partei im australischen Parlament sitzt, wirft den Chinesen vor, australische Rohstoffe aus dem Land zu schaffen, ohne dafür angemessen zu bezahlen.

"Es war ein schmerzhafter Lernprozess für uns", sagt Zhang Jijing, der 16 Jahre lang das gesamte Australiengeschäft der Muttergesellschaft Citic Group geleitet hatte, ehe er Ende 2009 zum Präsident und Vorstandschef von Citic Pacific ernannt wurde. "Wenn ich heute so zurückblicke, realisiere ich erst, wie schwierig es wirklich war.

China kauft sich Rohstoffe und Firmen im großen Stil

Im zurückliegenden Jahrzehnt hat sich China angesichts der boomenden Wirtschaft weltweit in großem Maßstab Rohstoffe gesichert, um die eigenen Fabriken zu füttern und dabei nicht von westlichen Mächten abhängig zu werden. Im vergangenen Jahr stiegen die Auslandsinvestitionen der Volksrepublik in Rohstoffe auf 53,3 Milliarden Dollar. 2005 hatten sie gerade einmal bei 8,2 Milliarden Dollar gelegen, wie aus Daten hervorgeht, die das American Enterprise Institute und die Heritage Foundation zusammengestellt haben.

Inzwischen wird klar, dass China auf seiner Einkaufstour etliche Fehlkäufe getätigt hat. Viele der großen Deals schreiben Verluste, produzieren unerwartet Kosten oder bringen erheblich weniger Ausstoß als erwartet. Einige der chinesischen Anleger ziehen sich bereits aus dem Rohstoffsektor zurück - ein Trend, der am Ende dazu führen dürfte, dass weniger chinesisches Geld nach Afrika, Lateinamerika und in den Nahen Osten fließt.

Die Gründe für die Probleme Chinas sind ganz unterschiedlicher Natur. Das Land ist erst spät in den Rohstoffboom der vergangenen Jahre eingestiegen und hat nicht selten überhöhte Preise für Lagerstätten und Anlagen bezahlt, die westliche Unternehmen bereits verschmäht hatten oder die sie gerne verkaufen wollten. China hat im Normalfall ein Fünftel mehr für Öl- und Gasvorkommen bezahlt als im Branchendurchschnitt, schätzt Scott Darling, Chef für Öl- und Gas-Research in Asien bei J.P. Morgan Chase & Co.

Der Energieriese China Petroleum & Chemical Corp, besser bekannt unter dem Kürzel Sinopec, zahlte 2010 satte 4,65 Milliarden Dollar für den Anteil von Conoco Phillips am kanadischen Ölsandspezialisten Syncrude Canada. Der Preis entsprach zu jenem Zeitpunkt einem Aufschlag von 10 Prozent auf den Marktwert, nimmt man die Marktbewertung des größten Anteilseigners Canadian Oil Sands zum Maßstab. In der Folgezeit litt das Projekt unter steigenden Kosten und fallender Förderung, wie aus Pflichtmitteilungen von Canadian Oil Sands zu entnehmen ist.

Sinopec erklärte damals, dass das Syncrude-Projekt das einzig verfügbare in seiner Größe und der Preis vernünftig gewesen sei. Bis vor kurzem seien Produktion und Profitabilität von Syncrude stabil gewesen, sagt das Unternehmen, das davon ausgeht, dass die Produktion noch 60 Jahre lang laufen wird. "Langfristig könnte das Projekt also durchaus noch als profitabel bezeichnet werden", heißt es.

Ein weiteres Beispiel: CNOOC bezahlte im Jahr 2012 für den Energiekonzern Nexen 15,1 Milliarden Dollar. Heute verdient das Unternehmen nur noch ein Fünftel des Nettogewinns des Jahres 2010. Nexen leidet unter den niedrigeren Erdgas-Preisen, rückläufigen Fördermengen auf einigen Schlüsselfeldern und weiteren Problemen. CNOOC erklärte, die Entwicklung von Nexen seit der Fusion liege im Rahmen der Erwartungen, die Anlagen arbeiteten reibungslos.

Iran kündigte Verträge mit chinesischen Firmen

Im April wiederum widerrief der Iran einen Auftrag im Wert von 2,5 Milliarden Dollar an China National Petroleum. Das Unternehmen sollte ein Ölfeld namens South Azadegan erschließen. Iranische Offizielle warfen China vor, es rechne Bohrausrüstung und -dienste zu teuer ab und verursache Verzögerungen bei dem Projekt.

Einen Monat später drohte Irans stellvertretender Ölminister Mansour Moazzami CNPC mit dem Entzug des 4,7 Milliarden Dollar schweren Vertrags über die Entwicklung des riesigen Gasfelds South Pars, da der Konzern keine zufriedenstellenden Fortschritte mache. CNPC wollte sich dazu auf Anfrage nicht äußern.

Bergbau- und Energieprojekte sind von Natur aus schwierig und auch westliche Rohstoffunternehmen geraten oft aus eigenem Verschulden in Probleme. Einige Analysten sagen daher, China lerne jetzt erstmals die harten Realitäten kennen, mit denen westliche Unternehmen bei derartigen Projekten schon lange zu kämpfen haben. "Die Welt ist übersät mit Projekten mit massiven Kostenüberschreitungen", sagt Megan Anwyl, leitende Direktorin bei der Bergbaulobby Magnetite Network in Perth.

Einige der schlechten Deals chinesischer Firmen könnten sich noch auszahlen, wenn das globale Rohstoffangebot knapp werden und die Preise steigen sollten. Einige der Großübernahmen aus China, darunter Sinopecs Kauf von Ölanlagen des russischen Rosneft-Konzerns im Jahr 2006 im Wert von 3,5 Milliarden Dollar, scheinen profitabel oder zumindest nahe der Gewinnschwelle zu sein, wie Unternehmensveröffentlichungen und Medienberichten zu entnehmen ist.

Und die Zeit großer chinesischer Deals ist noch nicht vorbei. Im April führte eine Sparte von China Minmetals ein Konsortium an, das für 5,85 Milliarden Dollar eine Kupfermine von Glencore Xstrata in Peru erwarb.

Chinesische Vertreter streiten dabei gar nicht ab, dass es Schwierigkeiten bei einigen Projekten gebe. Nach Berichten der chinesischen Staatsmedien schätzte der Leiter des chinesischen Bergbau-Verbandes, dass 80 Prozent aller Bergbau-Deals im Ausland gescheitert seien. Weitere Details nannte er allerdings nicht.

Im Juni machte Chinas staatlicher Rechnungshof Missmanagement für Verluste bei mindestens zehn Auslands-Anlagen der China Investment Corp. (CIC) verantwortlich. Der 600 Milliarden Dollar schwere Staatsfonds hatte zwischen 2009 und 2012 zig Milliarden Dollar in Rohstoffanlagen gesteckt. Um welche Geschäfte es sich handelte, führte der Rechnungshof nicht näher aus.

Chinesischer Staatsfonds wendet sich von Rohstoffanlagen ab

Inzwischen hat CIC angefangen, statt in Energieanlagen in andere Sektoren zu investieren, wie Personen aus dem Umfeld des Fonds berichten. Der Anteil von Energie- und Metall-Investitionen an den Auslandsgeschäften fiel im Jahr 2013 auf zwei Drittel, nachdem er 2005 noch bei 80 Prozent gelegen hatte. Das zeigen Daten des American Enterprise Institute und der Heritage Foundation. Mit 53,3 Milliarden Dollar lagen Chinas Rohstoffinvestitionen 2013 auch unter dem Rekordwert von 57,5 Milliarden aus dem Jahr 2011.

Chinas Handelsministerium führt in diesem Zusammenhang an, dass es seine Bemühungen zur Prüfung von Auslandsinvestitionen verstärkt habe und das Bewusstsein der Firmen darüber gestärkt habe, welche Risiken und Verantwortlichkeiten sie im Ausland erwarten. "Die Regierung hat erklärt, dass die Zeit des 'Kauf einen Rohstoff zu jedem Preis' vorbei ist", sagt Por Yiang-liang, Analyst bei BNP Paribas. "Es ist eine komplette Kehrtwende zum vergangenen Jahrzehnt".

Die Fehlschläge von Citic Pacific in Nordwestaustralien geben einen Eindruck davon, warum China seinen Kurs geändert hat.

Citic Pacific unterzeichnete den Vertrag mit Clive Palmer, dem australischen Milliardär aus der Bergbau-Branche, im März 2006. Palmer besaß die Lizenz, rund um Cape Preston Eisenerz abzubauen. Citic Pacific wollte drei Stahlöfen in der Volksrepublik füttern.

Seinerzeit stieg der Preis für Eisenerz, und Peking war daran interessiert, die Dominanz der großen Minenkonzerne BHP Billiton, Rio Tinto und Vale zu brechen, die zusammen mehr als 70 Prozent des seegebundenen Handels mit Eisenerz kontrollierten.

Citic Pacific zahlte Palmers Unternehmen Mineralogy Pty. Ltd. anfänglich 415 Millionen Dollar und vereinbarte, 2,5 Milliarden Dollar in das Projekt und einen Hafen zu stecken. Im Jahr 2009 sollte die Förderung beginnen. Für gefördertes Eisenerz sollte Mineralogy Lizenzzahlungen erhalten. Für den Fall, dass bis 2013 nicht wenigstens 6 Millionen Tonnen Eisenerz jährlich abgebaut würden, wurden Strafzahlungen vereinbart.

(MORE TO FOLLOW) Dow Jones Newswires

September 12, 2014 05:11 ET (09:11 GMT)

© 2014 Dow Jones & Company, Inc.

[codiman]

12.09.2014 11:11
Chinas globaler Rohstoffplan geht nicht auf -2-

Lange hatten sich die Bergbauunternehmen in der Region auf Eisenerz in der mineralischen Form von Hämatit konzentriert, das ohne weitere Bearbeitung sofort verschifft werden kann. Am Cape Preston findet sich jedoch Magnetit von schlechterer Qualität, das vor dem Verkauf noch angereichert werden muss. Citic Pacific musste sechs Verarbeitungsanlagen bauen, auch ein Kraftwerk und eine Entsalzungsanlage für Wasser waren nötig.

Gewaltige Fehlrechnungen chinesischer Bergbaufirmen

Binnen sechs Monaten, nachdem die australische Regierung die Investition genehmigt hatte, vergab Citic Pacific einen 1,75 Milliarden Dollar schweren Vertrag zum Bau des Projektes an die Metallurgical Corp. of China (MCC).

"Ich weiß nicht, warum alles zu Beginn mit einer derartigen Eile vorangetrieben wurde", sagt Citic-Manager Zhang heute. Die Vorbereitung eines Projektes mit einem derartigen Ausmaß würde normalerweise zwei Jahre in Anspruch nehmen.

Australische Berater hatten erklärt, sie würden für ein Projekt, das nur halb so groß ist, Kosten von 5 Milliarden Dollar und eine Bauzeit von fünf Jahren bis zur Fertigstellung ansetzen. MCC aus China versprach allerdings, man könne das gesamte Projekt für 2,5 Milliarden Dollar umsetzen, und das in nur drei Jahren.

Vertreter von MCC reagierten nicht auf die Bitte nach einer Stellungnahme. Im Jahresbericht des Unternehmens für 2012 heißt es, die "vorbereitenden Arbeiten waren von beiden Seiten aus ungenügend" und dass das "Projekt hastig und ohne volle Kenntnisse der australischen Bestimmungen begonnen" worden sei - neben anderen Problemen.

Sino Iron war nach Angaben von Manager Zhang größer als alles, was MCC bislang in China gebaut hatte. Die Mine betreibt einen Erzbrecher, der sieben Stockwerke groß ist und Förderbänder von einer Meile Länge, auf denen das Gestein für die Weiterverarbeitung zu den Anlagen transportiert wird.

Das geförderte Magnetit erwies sich als weitaus härter als das gleiche Mineral, wie es in China vorkommt, und zerstörte die Anlagen. Überdies erwies sich das Eisenerz vom Kap als mit Asbest durchsetzt, wie sich aus Finanzberichten von Citic Pacific entnehmen lässt. Deshalb musste das Unternehmen in luftdichte Fahrzeuge für die Arbeiter investieren, damit sie die krebserregenden Asbestfasern nicht in ihre Lunge bekommen.

Vertreter von MCC wollten billige chinesische Arbeiter vor Ort einsetzen, trafen damit aber auf Hürden, berichtet Manager Zhang.

Australien verhindert Import von Arbeitern zu Dumpinglöhnen

Australien vergibt Visa nur an Arbeiter, die Englisch sprechen und einen australischen Eignungstest bestehen. Diejenigen, die sich qualifizieren, dürfen nicht schlechter bezahlt werden als gleich qualifizierte Australier. Auch Vergünstigungen wie eine Woche frei nach drei Wochen auf der Anlage sowie Flüge von und nach Perth sind ihnen zu gewähren.

MCC gelang es am Ende lediglich, wenige hundert Chinesen ins Land zu bringen. Jeder der 1.000 Bergleute, die bei Sino Iron arbeiten, koste das Unternehmen über 200.000 Dollar im Jahr, berichtet Zhang.

Ein anderes Problem sind Australiens Umwelt- und Kulturvorschriften. Sino Iron etwa musste mit Aborigine-Stämmen eine Lösung finden, wie ihre heiligen Stätten geschützt oder verlagert werden können.

Sämtliche Kosten fielen in australischen Dollar an, der zwischen 2007 und dem Baubeginn im August 2008 gegenüber dem US-Dollar aufwertete. Citic Pacific versuchte sich mit Währungsderivaten abzusichern. Doch das ging nach hinten los, als die weltweite Finanzkrise ausbrach.

Im Oktober 2008 sah sich Citic Pacific möglichen Verlusten in Höhe von 2 Milliarden Dollar gegenüber. Mit einer Geldspritze über 1,5 Milliarden Dollar von seiner Mutterfirma Citic Group hielt sich das Unternehmen über Wasser.

Citic Pacific verpflichtete Zhang, der bis dahin nichts mit dem Projekt zu tun gehabt hatte, als Leitenden Direktor. Zhang stimmte zu, die Zahlungen von Citic Pacific an MCC zu erhöhen. Letztlich summierten sich diese auf 3,4 Milliarden Dollar.

Hässliche Schlammschlacht vor Gericht

Sino Iron geriet auch mit Immobilienmogul Palmer aneinander, der nach dem Verkauf an Citic Pacific in ein Fußball-Team, eine Nickel-Raffinerie und ein Golfressort investiert hatte, das er in einen Dinosaurier-Themenparkt umwandelte. 2012 kündigte er Pläne zum Bau einer Titanic-Nachbildung an. Im vergangenen Jahr gründete er seine eigene Partei, die Palmer United Party, und gewann einen Sitz im Parlament.

Analysten schätzen, dass die Verzögerungen von Sino Iron Palmer jährlich hunderte Millionen Dollar an Förderabgaben kosteten.

Im Oktober 2012 teilte Mineralogy mit, dass es Citic Pacific die Förderrechte entzogen habe und warf dem Unternehmen vor, dass es fällige Abgaben nicht bezahlt habe. Citic Pacific bestätigt die ausbleibenden Zahlungen, betont aber, dass es diese nicht habe leisten müssen, da es bisher noch kein verarbeitetes Erz ausgeliefert habe.

Ein Gericht entschied letztlich, dass Citic Pacific zahlen müsse. Als im Jahr darauf eine zusätzliche Strafe dafür fällig wurde, dass Citic Pacific keine 6 Millionen Tonnen im Jahr produziert habe - die Strafe entsprach etwa 10 Prozent des erwarteten Verkaufswerts des verarbeiteten Erzes -- weigerten sich das Unternehmen zu zahlen, so lange sich beide Seiten nicht auf eine Preisformel geeinigt hätten. Derzeit läuft ein Schlichtungsverfahren.

"Wir sind vor Gericht zuversichtlich", sagt Andrew Cork, ein Sprecher von Palmer. "Wir sorgen dafür, dass sie das in Ordnung bringen." Palmer selbst lehnte eine Stellungnahme ab.

Im Juli verklagte Citic Pacific Palmer wegen Betrugs. Der Vorwurf: Er soll 11,2 Millionen Dollar von einem Konto für den Betrieb des Hafens abgezwackt haben. Ein Teil des Geldes soll in den Wahlkampf seiner Partei im vergangenen Jahr geflossen sein. Palmer hat jegliches Fehlverhalten von sich gewiesen.

Dafür sorgte er im August für diplomatische Aufregungen: Als er im australischen TV-Sender ABC zu den Vorwürfen befragt wurde, warf er den Chinesen unter anderem vor, dass sie chinesische Arbeiter nach Australien bringen wollten. "Mir macht es nichts aus, mich gegen die chinesischen Bastarde zu erheben und sie davon abzuhalten", sagte er und bezeichnete Citic Pacific als "Straßenköter". Weiter polterte er: "Ich sage das, da sie Kommunisten sind, da sie ihre eigenen Leute erschießen, sie kein Rechtssystem haben und sie dieses Land übernehmen wollen."

Jahrelanges Warten auf volle Auslastung

Citic Pacific wollte sich zu den Aussagen Palmers nicht äußern, für die er sich nachträglich entschuldigte. Palmer sagte, seine Bemerkungen seien "nicht gegen die chinesische Gemeinschaft oder die chinesische Regierung gerichtet".

Im vergangenen Dezember feuerte Citic Pacific MCC und übernahm den Bau er letzten vier Produktionslinien der Mine selbst. Zur Feier der ersten Erzlieferung von Cape Preston nach China gab es nur eine schlichte Feier.

Im Februar legte Citic Pacific die jüngste Rechnung für das Projekt vor: 9,9 Milliarden Dollar an Investitionen und 3,6 Milliarden Dollar an Schulden für den Bau einer Anlage, die das Unternehmen mit weniger als 7 Milliarden Dollar bewertet.

Seine Eisenerzsparte, die einzig die Mine in Australien umfasst, verlor im vergangenen Jahr mehr als 208 Millionen Dollar. Und der Chef des Bereichs kündigte an, dass weitere Verluste wahrscheinlich seien, weil die Ausgaben steigen.

Zhang sagt, die Kosten würden sinken, wenn die restlichen vier Fertigungsstraßen erst einmal vollendet seien. Bis die Mine mit voll ausgelasteten Kapazitäten laufe, werde es noch ein paar weitere Jahre dauern. Die schlimmsten Probleme, orakelt er, habe die Mine aber hinter sich.

Mitarbeit: Chester Dawson, Benoît Faucon, Ned Levin, Drew Hinshaw, Joy Ma, Wayne Ma, Brian Spegele, Lingling Wei und Kersten Zhang

Kontakt zum Autor: [e-mail]

DJG/WSJ

(END) Dow Jones Newswires

September 12, 2014 05:11 ET (09:11 GMT)

© 2014 Dow Jones & Company, Inc.


Einfach lesenswert, wie gross die Probleme selbst für China bei Rohstoffprojekten sind....

[Popeye82]

Zinn.
http://minerals.usgs.gov/minerals/pubs/commodity/tin/mcs-201…

[Popeye82]

Antwort auf Beitrag Nr.: 47.764.638 von codiman am 12.09.14 12:34:49

interessante Artikel Codiman.
Finde vor allem weil sie eben nicht nur Summen, sondern eben auch Gründe nennen.
Hatte vor einiger Zeit mal vom Dosto gelesen wo er irgendwo geschrieben hatte bei Rohstoffunternehmen ist 'für Fehler keiiin Platz, mehr'.
Dem schliesse ich mmich im Prinzip vollkommen an.
Und in dem Artikel sieht man dass die Auswahl reichlich ist, welche machen zu können.

[Amanita_Muscaria]

@codiman: Danek für den Artikel!

ein Bekannter betreibt da seit 20 Jahren eine Farm und ist schon Australier, trotzdem wird auch er noch abgezockt

ja, in Australien ist es nicht einfach, die f...en die Ausländer anders als die USamis, die Australier zocken über ihre diversen regulations regelmässige laufende Zahlungen ab während die USamis eher (mehrmals) einmalige Zahlungen über ihre Gerichte festsetzen lassen

niemals, ich widerhole, niemals in angelsächsischen Ländern eigenes Geld investieren!!!

die deutschen Firmen verlieren da jedes Jahr Milliardenbeträge

es ist in der Regel klüger sich vor Ort von einer Bank einen Kredit für die Investition zu holen, wenn es den Kredit nicht gibt ist etwas faul

als Sicherheit nur das was vor Ort ist

besser man zahlt der Bank 3% und verdient 7% oder auch nicht als dass man verliert

[Popeye82]

sollte man glaube ich nicht 'zu eng' verstehen, aber als Tendenz auf jeden Fall.

A "forecast of when the world’s resources will run out"
www.minefocus.com/2014/09/forecast-worlds-resources-will-run…
www.mining.com/infographic-here-is-when-the-worlds-resources…

[Popeye82]

man sollte nicht ausser Acht lassen dass er da(mit) quasi auch auf Promotour ist, aber trotzdem.

Mining legend Friedland makes case for platinum, @gold forum
www.miningweekly.com/article/mining-legend-friedland-makes-c…

" DENVER, Colorado (miningweekly.com) – Billionaire mining legend Robert Friedland on Monday made the case for platinum at the Denver Gold Forum, saying that while he was a known gold bear, platinum was the only precious metal that had disruptive medium-term demand dynamics in the cards, boding well for pricing upside.

“It is critical that investors gain exposure to platinum, as this is where the disruptive medium-term catalyst is that would drive prices up,” he told delegates attending the forum.

Friedland, who is chairperson of Ivanhoe Mines, founded his bullish platinum scenario on the hazards that air pollution caused through automotive emissions and the burning of fossil fuels in urban spaces, pointing to London as being the recent European Union leader in air pollution and Paris as having earlier this summer placed public transport restrictions on its citizens to combat high pollution levels.

The World Health Organisation had also declared that urban air pollution was the number one public health risk, owing to the increased incidences of respiratory diseases.

And globally, air pollution was only set to get worse.

For instance, China currently had about 90-million private passenger vehicles on its roads, but the government was expecting this to rise to more than 400-million by 2030.

“The future lies in electric vehicles (EVs), and especially in hydrogen fuel cells,” Friedland stated, pointing to Japanese automaker Honda as being the near-term catalyst that would spark disruptive demand trends for platinum.

Honda plans to introduce the first commercial hydrogen fuel cell-powered vehicle in February next year. “Honda is about to unleash a revolution,” he declared.

Friedland said the progressive auto industry was presently debating whether to go down the Elon Musk EV route, or whether to embrace hydrogen fuel cells, noting that whichever way the global auto industry eventually preferred, it would bode well for Ivanhoe Mines' Platreef flagship, in South Africa. He also said that, as more US states were legislating for more emissions-free vehicles, there would eventually come a tipping point in the auto industry, when traditional automakers would also adopt EV or hydrogen fuel cells to drive their vehicles.

Other demand drivers were also boding well for platinum prices. The intensifying global trend of urbanisation was a critical driver behind the potential impending switch to hydrogen fuel cell-powered vehicles.

“With Japan being on board, we stand on the verge of something serious. Hydrogen fuel cells constitute a new and fundamental use for platinum, which bodes incredibly well for South Africa, owing to it supplying about 79% of the world’s platinum,” he said.

A stack of fuel cells for one automobile in general contains about 30 g of platinum, about eight to ten times the amount currently used in catalytic converters on conventional internal combustion-powered automobiles.

Countries around the globe, especially in the East, were also increasingly keen to tighten legislation to remove sulphur from fuel, opening up the auto market to the increased use of catalytic converters, which rely on platinum-group metals to clean emissions.

Other technologies, such as the escalating implementation of superfast magnetic-levitation trains, especially in Japan and the manufacture of photovoltaic panels would also need significant quantities of the white metal.


‘THINKING PERSON’S MINE’

Friedland pointed out that Platreef had several attributes in Ivanhoe's favour. Some of the positives included the fact that the deposit was flat, thick and high grade, that the mine could be fully mechanised, and that the deposit held five metals.

“Platreef is the thinking person’s platinum mine. It will be the largest platinum mine in the world, and at $341/oz, would be the lowest-cost producer globally.

“We will supply the platinum-fuelled hydrogen fuel cell revolution coming soon to a ‘theatre near you’,” he said.

He added that when the mechanised operation was running at capacity, and aided by the weakening South African rand, Platreef would likely change the traditional platinum-mining industry, making traditional labour-intensive mines obsolete.

The mining legend, known for his pivotal role in the discovery of megadeposits such as Kinross’ Fort Knox mine, in Alaska, Vale’s Voisey’s Bay mine, in Newfoundland and Labrador, and Rio Tinto’s Oyu Tolgoi mine, in Mongolia, said the same team that had worked on these projects were now focused on Platreef.

The Platreef project, on the northern limb of the Bushveld Igneous Complex, in Limpopo, involves the development and construction of a highly mechanised underground mine to access the underground Flatreef discovery. Ivanhoe has started the sinking of Shaft No 1 to obtain a mineralised bulk sample to complete the development assessment of the Flatreef.

The Flatreef mineral resource, with a strike length of 6 km, predominantly lies within a flat to gently-dipping portion of the Platreef mineralised belt at relatively shallow depths of about 700 m to 1 100 m below surface.

A preliminary economic assessment recommended a phased approach to the development of a large, mechanised, underground mine. Ivanhoe's plan for the project entailed three phases of potential development for an underground mine and the concentrator processing facility. The first phase comprises a four-million-tonne-a-year mine and concentrator; the second phase an eight-million-tonne-a-year mine and concentrator (base case); and Phase 3 contemplated a 12-million-tonne-a-year mine and concentrator.

The base case scenario was targeting 785 000 oz/y of platinum, palladium, rhodium and gold output, with significant amounts of copper and nickel by-product. Friedland noted that should EV gain traction in coming years, copper was still a significant component of lithium-ion batteries, making up about 70% of the batteries’ weight.

Platreef’s development phases would be implemented depending on market demand, smelting and refining capacity and capital availability. It could even consider an expansion beyond the third phase, subject to further study.

The base case scenario was targeting an estimated preproduction capital requirement of about $1.7-billion, including $381-million in contingencies.

Ivanhoe had finalised a broad-based black economic-empowerment (BBBEE) deal, giving 20 local communities a 26% interest in the project.

The deal paved the way for South Africa's Department of Mineral Resources to formalise and execute the mining right granted to Ivanhoe in May.

Friedland said that about 150 000 people live in the 20 host communities that form part of the groundbreaking BBBEE transaction. A total of 187 local entrepreneurial companies, representing a combined 333 individual shareholders, participated in the entrepreneurial subscription.

Upon execution of the mining right, a community trust for the 20 host communities will receive a yearly fixed contribution of R11-million (about C$1.1-million) while the mine was being developed.

Friedland said the BBBEE ownership stake was a landmark for the Platreef project, demonstrating Ivanhoe's commitment to the empowerment of black, historically disadvantaged South Africans.

The Platreef project was on target for initial underground development in 2018 and concentrator startup in the fourth quarter of 2019.

Edited by: Creamer Media Reporter "

[Popeye82]

Antwort auf Beitrag Nr.: 47.790.912 von Popeye82 am 16.09.14 10:53:12

Zimbabwe, Russia sign $3,000,000,000 deal to develop platinum mine, Zimbabwe +Russia on Tuesday signed a $3,000,000,000 deal to develop a platinum mine in Darwendale, targeting production of 250.000 oz/y within three years, a presentation by the Zimbabwean ministry of mines showed. The presentation said the mine "would" have peak production of 800.000 oz/y, which should help Zimbabwe produce 1,000,000 ounces a year, in five years' time - MW/R, HARARE - Sep 16, 2014
www.miningweekly.com/article/zimbabwe-russia-sign-3bn-deal-t…

[Popeye82]

China seeks cleaner coal imports, China will ban the import +local sale of coal with high ash +sulphur content starting from 2015, in a bid to tackle air pollution, with tough requirements in major coastal cities set to hit Australian miners. The National Development +Reform Commission policy comes as prices on the GlobalCOAL Newcastle index slump to a five-year low, amid a supply glut +slowing demand from China, the world's top importer - MW/R/NDRC, SHANGHAI - Sep 16, 2014
www.miningweekly.com/article/china-seeks-cleaner-coal-import…

"China will ban the import and local sale of coal with high ash and sulphur content starting from 2015 in a bid to tackle air pollution, with tough requirements in major coastal cities set to hit Australian miners.

The National Development and Reform Commission policy comes as prices on the GlobalCOAL Newcastle index slump to a five-year low amid a supply glut and slowing demand from China, the world's top importer.

China accounts for about a quarter of Australia's coal exports. It took 54-million tonnes of thermal coal and 30-million tonnes of metallurgical coal from Australia in 2013. All the thermal coal exceeded the new ash limit, while the metallurgical coal was below the limit, according to consultants Wood Mackenzie.

Under the new regulations, previously reported by Reuters and due to come into effect in January, the government has set different level of requirements on coal grades for mining, local sales and imports.

The most stringent requirements are for cities in the southern Pearl River Delta, the eastern Yangtze River Delta and three northern cities including Beijing, Tianjin and Hebei. These will be banned from burning coal that has more than 16% ash and 1% sulphur, according to a statement on the NDRC website.

Since the coastal regions such as Guangdong and Zhejiang province are some of China's top coal importers, the regulations are set to block a sizeable amount of imports.

"Coal that does not meet these requirements must not be imported, sold nor transported for long distances," the NDRC said, adding that the customs authority will check the quality of coal imports.

Much of the high ash coal from Australia was developed specifically for the Chinese market and could now be washed to meet the tighter limit on ash, said Rohan Kendall, Wood Mackenzie's metals and mining manager for eastern Asia.

"The uncertainty is whether the Chinese market will be willing to pay a bit extra for that lower ash product from Australia," he said.

Among the larger mines that would not meet restrictions on ash content are BHP Billiton's Mount Arthur operations, which produce about 16-million tonnes a year, Glencore's Mangoola mine, Rio Tinto's Hunter Valley operations and Bengalla mine, but it was not clear how much of that goes to China.

The Minerals Council of Australia, which represents the coal industry, and Australia's official resources forecaster disputed the view of Chinese traders that the new restrictions would hit Australian exporters hardest.

"There is nothing in the information released to date to suggest that Australian coal exporters will be disadvantaged and we are confident that we can meet the proposed specifications," Minerals Council executive director Greg Evans said in an email to Reuters.

Glencore, the world's biggest thermal coal exporter said it was reviewing the proposed restrictions. BHP, the world's biggest metallurgical coal exporter, which gets about a fifth of its coal revenue from China, said it expects to be able to meet the rules and does not expect a big impact on its business.

Rio Tinto had no immediate comment on the policy.

China will also implement a blanket ban on domestic mining, sale, transportation and imports of coal with ash and sulphur content exceeding 40% and 3% respectively.

For coal that will be transported more than 600 kms (373 miles) from the production site or receiving ports, the minimum energy requirement was set at 3,940 kcal/kg, with a maximum ash and sulphur content of 20% and 1% respectively.

When the regulation is implemented, Australian and South African coal with a heating value of 5 500 kcal/kg will be worst hit, since their ash content hovers around 23% to 25% and they contain sulphur of 0.8% to 1%, traders have said.

Top steam coal exporter Indonesia, which largely ships fuel with low heating value, sulphur and ash content, will be the least affected.

"It looks unambiguously positive for Indonesia. Almost all of Indonesian coal can meet these limits," Kendall said.

Edited by: Reuters "

[Popeye82]

Antwort auf Beitrag Nr.: 47.799.027 von Popeye82 am 17.09.14 05:39:16

" This "Just Sent Shockwaves, Through The Coal Market"

Breaking news: the thermal coal market is reeling this week. After the world's biggest consumer of the commodity announced some sweeping changes to its rules.

That's of course China. Where officials have finally moved on an import ban for shipments of certain types of coal coming into the country.

A notice of new rules around the coal ban was officially posted on the website of the National Development and Reform Commission on Monday. Here's how the ban breaks down (summary courtesy of the keen China-watchers at the Black China blog).

There are three levels to the ban. Under the first level, coastal Chinese cities are restricted from importing coal with sulfur levels above 1%, and ash content greater than 20%.


Level two prohibits the transport of coal for over 600 kilometres inland if it has a calorific value of 3,940 kcal/kg or less. Or if the coal has sulfur content exceeding 1%, or ash content above 20%.


Level three applies a total ban across the country to coal with a sulphur content greater than 3% and ash content greater than 40%.


The new rules are interesting in a couple of ways.

First, as expected, authorities largely went after sulfur and ash content--rather than overall calorific value, as was originally the plan according to reports. This was apparently in response to objections from coal consumers. Who felt that an outright ban on low heat-content coal would make it too hard to find supply.

But the government didn't totally let buyers off the hook here. Coastal cities will still be able to use all varieties of heat-content coal. But inland consumers will be restricted to higher-calorie products.

Analysis is that these rules will hit Australian coal the hardest. Although there are still plenty of mines in that nation producing coal that would pass spec.

A final part of the rules is an outright ban on low-calorie lignite coal, with a sulfur content greater than 1.5% and ash greater than 30%. Which could affect Indonesia--currently the largest supplier of lignite to China.

The ban comes into effect on January 1. But it appears imports could start dropping during the fourth quarter, ahead of the rules being implemented.

Whatever the case, the global coal market has been changed in a big way.

Here's to banning the burn,
Dave Forest

[e-mail]
http://piercepoints.com/?p=1308 "

[Popeye82]

Global diamond demand reaches record levels, Diamonds Insight Report
www.debeersgroup.com/content/de-beers/corporate/en/news/comp…
www.miningreview.com/global-diamond-demand-reaches-record-le…

"Global demand for diamond jewellery reached a record high of US$79 billion in 2013 according to the inaugural Diamond Insight Report, published by The De Beers Group of Companies.

Demand is expected to continue to grow over the long-term, driven by the ongoing economic recovery in the US (the world’s largest diamond jewellery market) and the growth of the middle classes in developing markets such as China and India. Sales of polished diamonds in the US increased seven per cent in 2013, while both India and China have seen their domestic diamond jewellery markets grow by a compound annual growth rate of 12 per cent in local currency terms between 2008 and 2013.

The report cautions that while diamonds retain their special allure with consumers around the world, future demand levels cannot be taken for granted. The overall category is facing increasingly strong and sophisticated competition from other luxury categories, with diamonds’ share of advertising voice in the US market having reduced within its competitive set.

Global rough diamond production in 2013 increased by seven per cent in carat terms over 2012 levels to a total of around 145 million carats. However, this remains well below the 2005 peak of around 175 million carats. The report further highlights that a forecast reduction in supply from existing sources will likely not be matched by new production coming on-stream in the years ahead and diamond supply is expected to plateau in the second half of the decade before declining from 2020 onwards.

Meanwhile, as mining moves deeper into the earth and towards more remote locations, the extraction process is becoming increasingly complex and costly. The three principal input costs – labour, electricity and diesel – have all seen increases well above local inflation levels in the main diamond producing countries over the last decade and this trend is set to continue.

Substantial investment will be required in diamond production, technology and branding, marketing and retail standards if the industry is to sustain its recent levels of success into the future, the report says.


The report also reveals thaaaaat:

- China is the world’s fastest growing market for diamond jewellery sales, with the number of diamond jewellery retail doors in the country increasing by almost 30 per cent between 2010 and 2013.

- Online has become an increasingly important channel for the diamond industry. Over one in six diamond jewellery purchases in the US was made online in 2013 and in China the internet is already used by a quarter of acquirers for research purposes before purchase.

- Diamonds were a major contributor to the economic performance of producing nations in 2013. In Botswana, diamonds represented more than 25 per cent of GDP and over 75 per cent of overall exports, whereas in Namibia they represented eight per cent of GDP and almost 20 per cent of all exports.


Philippe Mellier, Chief Executive, De Beers Group, said: “Consumer demand remains the one true source of value for the diamond industry. With demand forecast to increase further from 2013’s record levels, the opportunity for growth is clear. But this must not be seen as cause for complacency. The industry will continue to lose ground to other categories if it does not invest significantly in production, marketing and technology.” "

[Amanita_Muscaria]

Diamanten gibt es im Ueberfluss, das ist Marketing

Die meisten Rohstoffe gibt es viel

Welche sind knapp und koennten im Preis steigen?

[Popeye82]

Antwort auf Beitrag Nr.: 47.838.863 von Amanita_Muscaria am 22.09.14 07:43:19

Nja, Rohstoffe gibt es viele verschiedene.
Ich überleg schon länger mal in Zinn 'long' zu gehen -einer der wenigen Rohstoffe der seit längerem kontinuierlich größere Nachfrage als Angebot hat. Und von ITRI gibt es da soweit ich weiss Aussagen dass mögliche neue Minen "fast alle" Preise von mindestens $32,000/tonne brauchen, neben noch paar anderen Sachen).
Wird, wenn, aber wohl noch dauern, dann aber für längere Zeit.

[Popeye82]

Antwort auf Beitrag Nr.: 47.839.082 von Popeye82 am 22.09.14 08:27:49

nicht übermässig reisserisch gemeint, hier muss man denke ich beachten dass es auf einen regionalen/nationalen Markt bezogen ist.
Für deeen das meiner Wissens nach richtig sein dürfte.

" Analysts Say India's Coal Imports Are "About to Explode"

We're finally seeing the first projections on India's surging thermal coal demand. And the emerging numbers are massive.

As I've discussed, India's coal sector is in crisis. With stalling domestic production leading to rolling blackouts of late--as many of the country's coal-fired power plants struggle to find supply.

As of September 23, a full 35% of the country's coal-powered plants were running at "super-critical" coal supply levels. With less than 4 days of inventory on hand.

And according to a few high-profile analysts this week, that's going to lead to a big jump in imports to fill the gap.

Local coal analysts OreTeam released a forecast predicting that coal imports could leap to 210 million tonnes in the fiscal year 2015/16 (which will begin April 1, 2015).

That would be a significant rise. Up 25%--or over 40 million tonnes--from the 168.4 million tonnes of coal India imported during the last fiscal year.

And some observers believe the jump could even bigger. Including the local Indian arm of international analytics giants Fitch.

The group's chief economist in India was quoted this week by local press as saying that coal imports could hit 230 million tonnes. Which would be a 37% rise from last year's levels--or an increase of over 60 million tonnes in shipments coming into the country.

The import market is reportedly getting a lot more active the last week. After a landmark court ruling that could set the local coal mining sector back even further than it already is.

Indian courts ruled that 214 coal licenses given out over the past two decades were allocated unfairly. Judges ordered the blocks returned to the government--so that they can be redistributed under proper protocols.

That's going to push back any production from these licenses by years. Meaning supply is going to be even tighter here than most analysts were predicting.

This is a situation that looks like it's on the verge of exploding. Watch India's monthly import figures--as well as prices and transactions in potential supplying nations like Indonesia and South Africa.

Here's to putting up big numbers,
Dave Forest

[e-mail] "

[Popeye82]

Antwort auf Beitrag Nr.: 47.839.082 von Popeye82 am 22.09.14 08:27:49

eine kuuurze Zusammenfassung des neuen 'Tin Supply Report', von ITRI und Greenfields Research
Zusammenfassend kann man vermutlich sagen dass die Nachfrage noch so einige Zeit größer als das Angebot bleiben wird.
www.file-upload.net/download-9609186/Tin-Supply-Report.pdf.h…
www.greenfieldsresearch.com/the-case-for-tin-exploration/

[Amanita_Muscaria]

ich würde auf Nickel tippen

wird für nichtrostenden Stahl weltweit benötigt, ausserdem Elektroden und Werkzeuge

das dürfte steigen denke ich

[Popeye82]

Antwort auf Beitrag Nr.: 47.938.333 von Amanita_Muscaria am 03.10.14 09:37:51

Ich denke das eher nicht, glaube der war mehr "psychologisch getrieben".

Wie ich schon woanders vo einiger Zeit geschrieben habe -beim Nickel ist soweit ich weiss maaassig "potenzielle/"wartende" Zusatzkapazität" auf der Wartebank, die bei höheren Preisen -gestaffelt- immer mehr, zusätzlich, ins Spiel kommen würde.
Dazu habe ich noch vor ein paar Tagen eine eingestellte Graphik der Lagerbestände von jemand anderem gesehen:




Also jeder wie er mag, aber mir 2wäre es deeeeefinitiv nichts.

Gruß
P.

[Popeye82]

India "poised to overtake China, as world’s largest coal consumer", The country continues to battle chronic power shortages, that are crippling its growth
www.mining.com/india-poised-to-overtake-china-as-worlds-larg…

[Popeye82]

ich würde davon nicht alles unterschreiben, der Dudley ist glaub ich teils auch ziemlich umstritten.
Wollte mal mehr auf den wie es aussieht bisher deutlich unterschätzten Anteil des illegalen Abbaus hinweisen

China 'admits 40% of magnetic rare earths supply is illegal', World's dominant supplier of rare earth elements reveals a huge portion of supply used in magnets is illegally mined; much larger than initially anticipated - BMM - Oct 21, 2014
www.BenchmarkMinerals.com

"China - the world's leading producer of rare earth elements - has revealed that 40% of its supply used in high strength magnets is from illegally mined sources in the country.

The figure was revealed by rare earths expert Prof. Dudley Kingsnorth of Industrial Minerals Company of Australia (IMCOA) at a high level conference in Milan, the European Rare Earths Competency Network (ERECON).

Prof. Kingsnorth, who is the leading source of data in the rare earths market, was citing experts within China who are not only involved in the mining of the elements but also the government-led rare earths association.

China continues to dominate rare earth supply despite two new mines opening in the US (Molycorp) and Australia (Lynas) since the well documented crisis of 2010. Although the country's share of global rare earths has waned from 95% in 2013 to 90% in 2014, future supply security for the West is far from being solved.

High strength magnets are the leading market both for today’s volume demand and growth projections over the next five years, which is why the revelation about China's sourcing is significant.

Rare earths such as neodymium (Nd), dysprosium (Dy), terbium (Tr) and praseodymium (Pr) are used as the key magnetic components in electric motors that drive some of the world's most important technologies including wind turbines and some electric vehicles.

China is not only the leading supplier of these elements but also of the magnets used by some of the world's largest corporations including Siemens and General Electric.


A situation that cannot last

Prof. Kingsnorth explained that in 2020 the magnet market will consume about 30% of total rare earth elements produced in the world. The magnet market is forecasted to rely on China for 70% of its elements.

The question is whether the country can make up the shortfall from illegal sources if it decides to crack down on these activities.

China's tolerance for illegal mining is quickly diminishing. While the country is not likely to damage its own prospects by cutting a vital source of rare earths to a key industry, the longevity of this illegal source is in serious doubt.

The Chinese government, naturally, dislikes any unlicensed mining activity which occurs in many mineral and metal industries in the country. It is a wasteful process, environmentally damaging and gives the country bad press. It also undermines the larger, licensed miners that the government has hand-picked to become the next generation of more efficient, international suppliers.

And rare earths are about as high profile as it gets for China since the 2010 fishing vessel incident that threw the critical mineral and the country onto the front pages of the international press.

If China has its way as it invariably does, the reliance on illegal sources of rare earths is likely to come to end or significantly diminish sooner than many may expect.

This leaves the industry with a key question to answer: With an alarming lack of investment in new global sources, where will buyers turn to if China's black market supply is eliminated?

Simon Moores
Benchmark Mineral Intelligence
London "

[Popeye82]

Antwort auf Beitrag Nr.: 48.097.387 von Popeye82 am 21.10.14 20:36:58

na ma sehen, was das bringt.
die Jagdsaison ist eröffnet.
booooom

China sets tougher restrictions on illegal mining, exporting of rare earths, Beijing has launched a five-month campaign that 'ultimatively aims' to finally crackdown on illegal extraction +smuggling of the coveted elements +to avoid a further plunge in prices - M.com - Oct 20, 2014

- C. Jamasmie -
www.mining.com/china-sets-tougher-restrictions-on-illegal-mi…
http://investorintel.com/rare-earth-intel/chinese-authority-…


"

- Baotou City: Epicentre of China's rare earth industry. -


China is stepping up efforts to restrict illegal mining and exporting of rare earths with a five-month campaign that ultimately aims mainly to avoid a further plunge in prices.


Launched earlier this month and until March 31, five official bodies will work together to investigate and punish illegal miners and smugglers of the highly coveted elements.

Provincial and city governments will supervise the effort, Investor Intel reports.

This is not the first time China attempts to streamline the rare earth industry by giving control to state-owned miners and setting production quotas on a small number of authorized companies.

However measures implemented in the last few years have failed to reduce pollution, smuggling, and illegal mining in China’s rare earth industry.

The Asian giant says it holds 23% of the world’s rare earth reserves, but foreign estimates allege China really has about a 40% of the global reserves and provides over 90% of the world’s demand.

The U.S., Europe and Japan have all submitted complaints to the World Trade Organization declaring that China’s production and export quotas are restricting supply to the global market, therefore giving Chinese companies an unusual competitive advantage, though Beijing maintains its actions are due to environmental reasons. "

[Popeye82]

China to scrap tariffs on Australian coal, The controversial duties, imposed earlier this month, will be eliminated once ongoing negotiations on a free trade agreement(FTA) between the two nations is finalize - M.com/TA - Oct 22, 2014
www.mining.com/china-to-scrap-tariffs-on-australian-coal-430…

"


The Chinese government has decided to scrap tariffs on Australian coal imports announced earlier this month once ongoing negotiations on a free trade agreement (FTA) between the two nations is finalized.

“The news is very surprising because just like the implementation of the tariffs, no one expected it to happen so quickly,” ICIS coal analyst Deng Shun told The Australian.

Canberra and Beijing are trying to seal a FTA before the end of this year after nearly 10 years of negotiations, in a bid to boost two-way trade already worth more than $132 billion (A$150 billion).

But China jeopardized the talks on Oct.8 by introducing a new duty of 3% for coking coal and 6% for thermal fossil fuel coming from Down Under, which shocked and angered Aussie producers, responsible for a quarter of Chinese coal imports.

Those levies put Aussie coal exports at a disadvantage to its biggest rival, Indonesia, which is exempt under China's free trade pact with the Association
of Southeast Asian Nations.


Coal tradition

China's dependence on coal is well known. Annual consumption exceeded 1 billion short tons per year in 1988 and has exploded since then, to about 4 billion tons last year. This means the Asian giant gets about 70% of its energy from the fossil fuel, a number the government hopes to reduce to 65% by 2017.

In the past three years Australia’s coal industry has experienced challenging times with prices for thermal coal, which consumed by power stations to generate electricity, dropping over 40%. More than 10,000 coal jobs have been lost in Australia since 2011 as companies slash costs and idle mines amid a global supply glut. "

[Popeye82]

" Are "More Troubles Coming For This Critical Gold Center?"
http://piercepoints.com/?p=1356

Very significant news emerging this week for the gold market.

From one of the biggest consuming nations on the planet.

That’s India. Where reports from local press suggest that the government may once again tighten restrictions on gold imports into the country.

Officials are reportedly looking at re-instating the so-called “80:20 rule” on imports. Under which importers of gold were required to re-export 20% of the supply they brought in from abroad.

The 80:20 rule was formally relaxed last May after being in force for a year. A move that has allowed a number of “nominated” agencies in India to more-freely import bullion over the last few months.

That’s had a notable effect on gold consumption from Indian consumers. With September’s imports recently reported at $3.8 billion—up 450% from the year-ago period.

But the uptick in gold imports has also caused troubles—notably for India’s trade deficit. Which hit an 18-month high of $14 billion during September.

That figure has worried India’s finance ministry. Prompting officials there to formally ask the country’s department of economic affairs and the Reserve Bank of India to look at re-imposing the 80:20 rule.

The stated goal of such action would of course be to discourage gold imports. Which would provide a drag on global gold buying—and affect prices.

The move would also be a surprise to a number of observers in the gold space. Who had been expecting India to continue easing its import policies, ahead of possibly allowing more-complete freedom on shipments.

Watch for news on any decisions by economic affairs or the Reserve Bank regarding official rule changes. India’s trade deficit numbers for October could also provide some clues as to what action is coming on this front.

Here’s to gold standards,
Dave Forest "

[Popeye82]

Antwort auf Beitrag Nr.: 48.114.743 von Popeye82 am 23.10.14 15:43:34

" These 'Gold Numbers Are About To Hit A 15-Year High'
http://piercepoints.com/?p=1358

Things have changed a lot in the gold market--in a very short period of time.

And news this week suggests that further structural changes are coming to the market. The kind we haven't seen in over 15 years.

Specifically when it comes to gold hedging. The practice of forward-selling bullion in order to lock in a fixed price.

With gold rising over a good part of the last decade, investors wanted as much exposure as possible to prices. With buyers betting that prices would continue to rise--generating increasing profits for companies that produce bullion.

That led to a decrease in hedging--with gold producers sometimes paying billions of dollars to "unwind" their hedges. And regain complete exposure to market prices.

But a survey released on Wednesday suggests that gold companies are now going the exact opposite direction. Increasing their hedges--by a significant amount.

The study's authors--gold market experts GFMS along with Societe Generale--said they expect total hedging in the gold industry to rise to 40 tonnes of metal in 2014. A mark that would be the highest yearly figure since 1999.

There's reason to believe the prediction. In the second quarter alone, total hedging across the gold industry jumped 61% as compared to the year-ago period. Suggesting that producers are indeed returning to hedges in a big way.

The strategy makes sense in light of recent market activity. With gold prices having once again dipped below $1,200 per ounce over the last several weeks, producers are anxious about further declines. And therefore want to lock in prices in order to protect against further falls.

The 40 tonnes of total hedging predicted by GFMS this year is of course not huge in a historical perspective. Given that the previous high in 1999 was over 500 tonnes.

But it's interesting to note that the 1999 high in hedging activity coincided exactly with a multi-year low point for the gold price--when bullion dropped to $250 per ounce. After which the market rose steadily and significantly for several years.




Here's to playing it safe,
Dave Forest "

[Popeye82]

Platinum miner 'sees opportunity in supply cuts', Canada’s Platinum Group Metals Ltd.(PTM) says its low-cost South African projects will benefit as competitors shut down old unprofitable mines, slashing global output by as much as 35 percent - R - Oct 9, 2014

- Christopher Donville +Andre Janse van Vuuren -
www.bloomberg.com/news/2014-10-09/platinum-miner-sees-opport…

"Canada’s Platinum Group Metals Ltd. (PTM) says its low-cost South African projects will benefit as competitors shut down old unprofitable mines, slashing global output by as much as 35 percent.


South African producers, the source of more than 70 percent of the precious metal, are under pressure to close or sell their least-efficient operations amid the lowest platinum prices in five years, dwindling ore grades and higher labor costs they agreed to during a five-month strike, according to Platinum Group Chief Executive Officer Michael Jones.

The biggest platinum miners may reduce as much as 2 million ounces of annual capacity in the next six months, Jones said in a Sept. 26 interview at the company’s Vancouver headquarters. “The change in the business environment is going to allow room for new deposits to come on,” he said.

While Jones’s forecast drop is “a bit aggressive,” there’s no denying the largest platinum miners, including Anglo American Platinum Ltd. (AMS) and Lonmin Plc (LMI), are under pressure to shed unprofitable operations, said David Davidson, a Toronto-based analyst at Paradigm Capital Inc.

“At these prices, nobody’s really making any money,” Davidson said last week by phone.

The dynamics of the industry will spur interest in moves by Platinum Group to develop its shallow, lower-cost South African projects, he said.


Five-Year Low

Platinum futures in New York touched the lowest price since 2009 last week and have declined 7 percent this year as signs of weaker economic growth in Europe raised concern demand will slow. The metal is used in pollution-control devices in cars and jewelry.

Futures also fell as the dollar climbed last week to a four-year high against a basket of 10 currencies, reducing the appeal of commodities as alternative investments.

At current platinum prices, about 45 percent of South Africa’s platinum mines are operating at a loss, according to the country’s Chamber of Mines.

Platinum Group, with a market value of about C$485 million ($434 million), is about 60 percent finished building its Western Bushveld Joint Venture conventional platinum mine in the Rustenburg region of South Africa.

The company, which was founded in 2000 and still has no revenue, also is moving to speed development of its more valuable Waterberg platinum discoveries in the northern Limpopo province of South Africa, Jones said.


‘High-Grade’

Waterberg is about 44 miles (71 kilometers) from Anglo Platinum’s open-pit Mogalakwena mine, that company’s largest and most-profitable producing asset, on the northern limb of the Bushveld Complex, which has the world’s richest seam of platinum ore.

Waterberg “is one of the best platinum discoveries globally in recent years,” Brock Salier, a London-based analyst with GMP Securities, said by phone. “The key thing here is the deposit is very thick and very high-grade.”

That means Platinum Group will be able to use mechanized mining methods that are much less labor-intensive than those used by many other operators of platinum and palladium mines in South Africa, which generally mine deeper underground projects, Salier said.


‘Chisel It Out’

“Other South African mines generally have a reef which is 1.5 meters thick and they literally have to send hundreds of men underground with jackhammers and essentially chisel it out of the face,” he said.

It may only be a matter of time before some older mines are closed, Ben Davis, a London-based analyst at Liberum Capital Ltd., said by phone. Some producers “will have to start doing it because it’s not sustainable and shareholders have reached the end of their tether.”

Platinum Group shares dropped 28 percent in the year through yesterday in Toronto. In that time, Anglo American Platinum shares declined 6.5 percent in Johannesburg, Impala Platinum Holdings Ltd. (IMP), the second-largest producer, fell 26 percent, Lonmin lost 35 percent, while the benchmark FTSE/JSE Africa All Share Index (JALSH) climbed 11 percent.

Mpumi Sithole, a spokeswoman for Anglo, declined to comment last week. In July, the company said it will sell four platinum mines and stakes in two joint ventures.

Johan Theron, an Impala spokesman, said that while longer-term prospects for his company are good, profitability will be under pressure in the near term.


‘Restructuring Risk’

Any decision to restructure would depend on labor productivity and exchange rates in addition to metal prices, Theron said Oct. 3 in an e-mail response to questions.

Sue Vey, a Lonmin spokeswoman, said on Aug. 25 that all company operations were under review. She declined to comment further last week.

Platinum Group’s prospects hinge on whether forecasts for platinum demand become reality, Michael Kavanagh, an analyst at Noah Capital Markets (Pty) Ltd., said by phone from Cape Town on Oct. 2.

“It’s still early days,” Kavanagh said. “Everybody is moving under the assumption that the market is going to need metal going forward, and need lots of its. Historically that’s been a very poor assumption.”

Platinum Group found Waterberg in November 2011 after an informal panel of geologists and university professors assembled by Jones chose it as one of the most likely sites to contain the next big platinum and palladium discovery.

The company didn’t fully comprehend the geological implications of Waterberg until after the drilling results were announced, Jones said.

“That’s exploration,” he said. “That’s the excitement of the treasure hunt.”


To contact the reporters on this story: Christopher Donville in Vancouver at [e-mail]; Andre Janse van Vuuren in Johannesburg at [e-mail]

To contact the editors responsible for this story: Simon Casey at [e-mail] Steven Frank, Jacqueline Thorpe "

[Popeye82]

Antwort auf Beitrag Nr.: 47.904.071 von Popeye82 am 30.09.14 01:04:04

Zitat von Popeye82: nicht übermässig reisserisch gemeint, hier muss man denke ich beachten dass es auf einen regionalen/nationalen Markt bezogen ist.
Für deeen das meiner Wissens nach richtig sein dürfte.

" Analysts Say India's Coal Imports Are "About to Explode"

ICVL to invest $500,000,000 in Mozambique coal mine projects - MT - Oct 27, 2014
www.mining-technology.com/news/newsicvl-to-invest-500m-in-mo…

"India's state-owned International Coal Ventures (ICVL) has unveiled plans to invest $500m in its recently purchased coal mines in Mozambique.


According to a senior ICVL official, the company intends to support logistics and infrastructure projects at the Mozambique mines over the next two to three years, according to PTI.

In July this year, Rio Tinto sold its coal assets in Mozambique to Indian state-owned consortium International Coal Ventures (ICVL) for $50m.

The sale included Rio Tinto Coal Mozambique's Benga mine, Zambeze project and Tete East project in the Tete province.

An ICVL official told PTI: "At this point of time, the mining operations are making cash losses.

"There are about one billion tonnes of reserves available...It is a very good strategic investment."

Benga mine currently produces five million tonnes of coal but is suffering from significant logistics issues.

Of the total production, about two million tonnes of washed coal is being produced for use by Tata, which has 35% stake in the venture.

ICVL was created by the Indian Government as a joint venture company for acquiring metallurgical coal and thermal coal assets outside the country.

Although there have been proposals to introduce a third partner to the joint venture, the company is not looking for a partner.

"It needs about Rs3,000 crore ($490m)," the official added.

"All the PSUs can put together and invest over a period of time. I don't see any necessity for an outsider to join us." "

[Popeye82]

"Will Volcanic Activity Refuel Japan's Reactor Restart Concerns?" - U3O8.biz/R/JMA - Oct 26, 2014

- Charlotte McLeod -
www.u3o8.biz/s/MarketCommentary.asp?ReportID=680357&_Type=Ma…

"Just under a month has passed since an eruption at Japan's Mount Ontake killed 57 people and sparked anxiety about the restart of Kyushu Electric Power Company's Sendai nuclear power plant. However, once again volcanic activity in the country is raising similar concerns.

News surfaced Friday that Ioyama, a mountain on Kyushu, an island in Southwestern Japan, "has been shaken by small tremors and other signs of rising volcanic activity recently." The area around the crater is dangerous, and as a result the warning level on the mountain has been raised from the lowest level to the second lowest.


That said, Japanese authorities seem to be doing their best to keep the situation in perspective. "There is an increase in activity that under certain circumstances could even lead to a small scale eruption, but it is not in danger of an imminent, major eruption," Reuters quotes an official from the Japan Meteorological Agency's volcano division as saying.


Will reactor concerns reignite?

As mentioned, the Mount Ontake eruption was a red flag for those opposed to restarting Japan's 48 reactors, which have been dormant for safety checks since the 2011 Fukushima disaster. It led to a protest in Kagoshima, Uranium Investing News reported at the time, with participants arguing, "[n]o one knows when natural disasters, including earthquakes and tsunamis will strike. The fact that they could not predict the Mount Ontake eruption highlights that."

No word yet on whether Friday's news has led to similar comments, but given that Ioyama is located 64 kilometers from Sendai, it's likely that it's only a matter of time before they start coming.

There's also been no word from Japan on whether the volcanic activity at Ioyama has changed its opinion on restarting Sendai. That said, it seems unlikely the situation will prompt the country to alter its course. Following the Mount Ontake eruption, the government was quick to explain that Sendai is in an entirely separate volcanic area from Mount Ontake; it also reiterated that the risks of restarting it are low and pointed out that the country's need for the low-cost energy Sendai can provide is increasing.

In addition, as Reuters states, Japan's Nuclear Regulation Authority (NRA) has remained steadfast in its belief that Sendai will not be affected by any volcanic activity despite the fact that --- in addition to Mount Ontake and Mount Ioyama --- it is located 50 kilometers from Mount Sakurajima, an active volcano that frequently erupts, and in the same region as five "giant calderas" caused by past eruptions. Indeed, before okaying Sendai's restart back in July, the NRA described the chance of major volcanic activity during its lifespan as "negligible."

Together, those statements make it clear that Japan is set on restarting Sendai, and barring an update from the government or the NRA, that's what market watchers should expect to happen. If it's able to pass operational safety checks and gain approval from local authorities, the plant could be up and running in early 2015. "

[Popeye82]

Asbury 'opens Europe graphite, targets graphene', US graphite major officially opens its Netherlands plant with a 25,000 tpa capacity; targets graphene precursor - Oct 23, 2014
www.youtube.com/watch?v=HCCw-xLsuX4

"Asbury expands graphite and carbon foothold into Europe

Asbury Carbons has officially opened its 9th graphite and carbon plant in Maastricht, Netherlands and is expected to start processing material within a matter of days.

Benchmark Mineral Intelligence was invited to attend the Grand Opening of the plant which is the first of its kind for Asbury within Europe and builds on the 7 similar operations the company has in the US and 1 in Mexico.

While Asbury has long been a supplier of graphite and carbon products to the European market, it has previously had to ship material from North America and compete with companies that are predominately based in Germany.

The new plant, which has a capacity of up to 25,000 tpa for all graphite and carbon products, will increase Asbury’s competitiveness within Europe in today’s marketplace, and position the company to capture a significant portion of any growth that is likely to emerge in the carbon field.

Asbury, a 119 year old company that is still family-owned and run, has long served global industrial markets with high quality granular and micronized graphite products derived from all forms of natural graphite (flake, amorphous, vein).

The plant will also increase Asbury’s production clout in cokes, carbon black, anthracite and synthetic graphite.


Graphene precursor

Asbury is also moving forward into the nano-carbon space with the development of what it has described as graphene precursor material.

With the interest in graphene booming, the company is targeting customers who are seeking a graphene product – defined as 1-3 layers of carbon – with a nano-graphite product that is 6-8 layers.

A long term trend in the graphite industry has been to produce purer and finer products. A graphene precursor is the next logical step for the industry that has been trending this way for the last 20 years.

The company explained to Benchmark that it is not yet targeting the battery market with a spherical graphite product due to significant over capacity in China and the fact that over 95% of the world’s production of spherical graphite produced in China.

China’s low production cost base has kept any new players out of the market so far.

Asbury did confirm that it sees spherical graphite as the largest growth market for natural flake graphite.


Simon Moores
Benchmark Mineral Intelligence
London "

[Popeye82]

Bears are ripping precious metals apart, Gold price below $1,200, silver falls to 56-month low - M.com - Oct 31, 2014
www.mining.com/gold-price-below-1200-silver-falls-to-56-mont…

"Declines in the gold price after the Federal Reserve halted its economic stimulus program and struck an upbeat tone on the state of the US economy continued into Thursday.

In lunchtime trade on the Comex division of the New York Mercantile Exchange gold for December delivery was changing hands for $1,198.70 an ounce, down more than $26 or 2.1% from Wednesday's close.

In morning trade gold touched a low of $1,195.50, the lowest since October 3 and only the second time below $1,200 this year. Selling was heavy with more than 17.6m ounces traded.



- Selling frenzy -


Given the fact that hedge fund and large investors have cut back on bearish bets over the last two weeks, the possibility of a short covering rally is remote.

That means more selling could be in the offing – next technical support is at $1,180 an ounce, a level the metal tested twice in 2013 before recovering.

The Federal Reserve on Wednesday voted 9 to 1 to end the third round of its quantitative easing program known as QE3. The bank also signaled a much more hawkish stance towards interest rates explicitly stating that rates could be hiked earlier than "currently anticipated" should the economy improve at a faster rate.

The Fed hasn't raised rates, which have been hovering near zero since QE1, since 2006.

Higher interest rates and bond yields raises the opportunity costs of holding gold as the metal is not income producing.

Sister metal silver fared even worse on the day with December futures dropping to a day low of $16.33, down 5% on the day and at levels last seen in February 2010. The low for the volatile metal that year was $14.64 an ounce.

The ratio between gold and silver has jumped higher reaching a five-and-a-half year high above 73, which could mean that silver is oversold or that the gold price has further to fall. "

[Popeye82]

Low kimberlite discovery "rate seen sparking diamond production crisis by turn of decade" - MW - Oct 31, 2014

- J. Davenport -
www.miningweekly.com/article/low-kimberlite-discovery-rate-s…

"


The stability of the diamond sector has always been a slave to the fine balance between supply and demand. Over the last century, the industry has had to contend with various crises of oversupply, largely spurred by conflict, global economic instability and the vagaries of consumer demand. As a result, it has been at the mercy of drastic price troughs.


The most recent crisis, spurred by the 2008 global financial recession and a sharp fall in gem prices in 2011, is still fresh in the mind of the industry, although there are definite signs that the sector is beginning to recover with steady growth of consumer demand, and the stabilisation and steady increase of diamond prices.

De Beers’ recently published Diamond Insight Report 2014 reveals that global demand for diamond jewellery reached a record high of $79-billion in 2013. The report also states that demand is expected to continue to grow over the long term, driven by ongoing economic recovery in the US, as well as the growth of the middle classes in developing markets, such as China and India.

However, while recovery is expected to continue for the next four years, which will facilitate a more balanced market, there is growing consensus among analysts and industry stakeholders that a new spectre – that of waning production – now looms on the horizon and threatens to disrupt that recently restored balance by the close of the decade.

The Diamond Insight Report reveals that global rough diamond production has already begun to decline from a peak of 175-million carats in 2005 to 145-million carats in 2013. The report also states that the forecast reduction in supply from existing sources is not likely to be matched by new production coming on stream in the years ahead; diamond supply is expected to plateau in the second half of the decade before it is expected to decline from 2020.

Speaking at the Kimberley Diamond Symposium 2014 last month, junior miner Tsodilo Resources president and COO Michiel de Wit elaborated that, while there are several new projects set to come into production over the next few years – including the Grib mine, in Russia; the Botuobinskaya project, in Siberia; the Gahcho Kué, Renard and Jay mines, in Canada; as well as the Lace, Liqhobong, and Ghagoo mines, in Southern Africa – these projects are quite small and will only add some 17-million carats a year to global production.

“Cumulatively, these projects will not have a major effect on the steady decline on production of rough [diamonds], and the downward trend is forecast to accelerate over the next few years,” warned De Wit.

He further emphasised that the widening gap between supply and demand is a reality, which “will not do the diamond industry any good, as it will open a feed for synthetics and recycling”.


Downward Slump

The looming production crisis can be attributed to the significantly low discovery rate of economically viable kimberlites since the turn of the century.

De Wit states that even new projects coming into production consist of kimberlites that were found decades ago.

Interestingly, since the discovery of the first diamondiferous kimberlite pipes in the Northern Cape in the 1870s, more than 8 000 kimberlites and lamproites have been discovered worldwide, 43% of which are directly attributable to De Beers’ exploration efforts over the past five decades.

However, this significant number belies the difficulties associated with diamond prospecting, as only 15% of kimberlites have proven to be diamondiferous. More astonishing is that, of that vast number of discoveries, only 67 deposits have had a resource sufficient to justify the economics of establishing a mine with sustainable production, while only seven deposits are classed as Tier 1 deposits and account for 62% of rough production.

The heyday of diamond exploration was the period between the 1960s and early 1980s, which yielded the remarkable Tier 1 discoveries of the Orapa and Jwaneng mines, in Botswana, and Venetia, in South Africa.
Meanwhile, though diamond prospecting has continued, although at a much-reduced rate since 2008, the rate and nature of economic kimberlite discoveries has declined substantially.

According to the Diamond Insight Report, the industry has spent almost $7-billion since 2000, with only meagre results to show for its efforts. Only one diamond deposit of significant size, Bunder, in India, was discovered during this period.

Moreover, the average size of kimberlites that contain diamonds has decreased significantly from just over 30 ha in the 1940s, to just 2 ha in the past decade.

“These statistics show not only that the number of discoveries has decreased significantly, but also that the sizes of more recently found kimberlites are substantially smaller than those found several decades ago, which even further reduces the already tight supply of rough [diamonds] for the future,” states De Wit.

De Beers exploration head Charles Skinner believes that the decline in the diamond discovery rate is attributable to a decrease in exploration effectiveness over the last two decades, exacerbated by the fact that key prospective areas lie in countries that are deemed a political risk.

Skinner says finding an economically viable kimberlite is significantly more difficult than looking for other minerals. Key factors contributing to the decline in appetite include: the difficulty of retaining expertise, particularly operational competencies and in-house knowledge and science; rising costs, which results in longer lead times and less perseverance; and increasing prerequisite regulatory compliance and best practice, particularly in the US, the UK and the European Union.

Skinner adds that these factors, coupled with the recent cycle of depressed prices and a scarcity of venture capital for mineral exploration, have resulted in a prominent exit from diamond exploration by juniors and key majors.

Reiterating this sentiment, exploration and development company Incubex Minerals CEO John Bristow tells Mining Weekly that global diamond exploration is, currently, “pretty dismal”.

“There is little true exploration work being undertaken in Africa, particularly in Southern Africa, with most of the current projects seeking to evaluate or re-evaluate already known deposits.

“At this point in time, companies, particularly the majors, are just so protective of their balance sheets that they are unwilling to release the funds necessary to pursue green- or brownfield diamond exploration, and junior explorers and miners have been decimated.”

Greenfield diamond exploration is a difficult process and can be prohibitively expensive and lengthy. Typically, the work programme to undertake an initial indicative grade test on a kimberlite pipe of five to ten hectares might take a month and cost $1-million, while determining its potential economic viability might take up to 12 months and cost between $2-million and $4-million. Thereafter, the resource evaluation to deliver a conceptual study, which can take up to 18 months, can cost between $10-million and $35-million.

Illustrating this general sentiment is midtier miner Petra Diamonds technical director Jim Davidson, who tells Mining Weekly that, given the reality of the poor success rate of diamond exploration, Petra Diamonds does not allocate material resources to its exploration arm, spending only between $3-million and $5-million a year, against a total group revenue of $427-million last year.

“At this point in time, we do not envisage any significant increases to this spend,” says Davidson.

This is despite Petra Diamonds’ success in its limited exploration programme, having discovered the KX36 kimberlite pipe in Botswana several years ago. Davidson elaborates that the kimberlite is now close to being classified a ‘deposit’, although more work is required to prove the diamond grade and value.


Outlook

With diamond exploration proving less successful, are there any other large economically viable kimberlite deposits left to discover? And will there be an upswing in prospecting activities in the near future, particularly in light of a looming production crisis?

Fortunately, the understanding of the geological complexity of kimberlites has deepened over the past two decades, along with the required expertise, technologies and techniques to effectively target, discover and assess diamond deposits.

On that basis, there is a general consensus among geologists that there are parts of the globe that are still highly prospective and could yield large kimberlite discoveries.

Southern Africa, particularly parts of South Africa, Botswana and Lesotho, are still prospective, insists Bristow.

“There is still room for good junior mining development across all commodities, not just diamonds,” he says, adding that there are still parts of South Africa, namely the Northern Cape and the Bushveld Complex, where the geological setting is not entirely understood, and intensive and fairly detailed exploration could still yield important mineral discoveries.

Given that there are still highly prospective areas in Southern Africa, Bristow believes there could be a resurgence of diamond exploration in the future.

However, regarding South Africa, he notes that to unlock the untapped mineral potential of this unique and still highly prospective country, there is an urgent need to make the local mineral title application and compliance process more user-friendly for exploration and mining companies.

“We are at the bottom of the cycle and are beginning to see a change in the attitude towards cold exploration. The recent diamond symposium in Kimberley, which was surprisingly well attended by a range of industry, academic, manufacturing and supply company representatives, is certainly an indication that the horse hasn’t entirely bolted from the stable, and the jockeys are starting to mount up again, ready for the next race of diamond exploration,” Bristow avers.

While it cannot be argued that De Beers, the major player in Southern Africa for the last 126 years, has dropped the exploration baton entirely, the scale of its prospecting activities has reduced.

“Post 2006, De Beers completely refocused its exploration business to align [with] the reality of the future – where we need to be, what we need to do to be successful and how much it would cost, but in a manner that would ensure sustainability of the exploration business over the longer term,” states Skinner.

The group is currently focusing its exploration activities on South Africa and Angola, which De Beers believes to be the most prospective countries in Southern Africa. "

[codiman]

Riskante Wette / Rohölgott überzeugt Fracking ist ein Blindgänger und der Ölpreis wird steigen

Riskante Wette
"Rohölgott" überzeugt - "Fracking ist ein Blindgänger und der Ölpreis wird steigen"

Autor: Redaktion w:o
15.09.2014, 11:15 | 14994 Aufrufe | 0 | druckversion


Andy Hall, der George Soros unter den Rohölhändlern, setzt alles auf eine Karte und riskiert dafür sogar sein eigenes Vermögen. Er wettet auf steigende Ölpreise, doch davon ist derzeit keine Spur. Wird der „Gott des Rohölhandels“ dieses Mal alles verlieren oder am Ende doch noch der strahlende Sieger sein?









Andy Hall ist unter den Rohölhändlern das, was George Soros unter den Hedgefonds-Managern ist: eine Legende. Als „Gott des Rohölhandels“ geadelt, verdiente Hall in den letzten 30 Jahren mit teils aggressiven Wetten Milliarden. So hatte er unter anderem auch im Jahr 2008 den richtigen Riecher. Von vielen belächelt sagte Hall damals entgegen vieler seiner Kollegen den Einbruch der Ölpreise voraus und behielt am Ende Recht. Wiederholt sich die Geschichte, so könnte es auch dieses Mal wieder so weit sein, nur umgekehrt. Dieses Mal setzt Hall nämlich alles auf einen steigenden Ölpreis und wieder erntet er von Kollegen nur ein belustigtes Lächeln. Aber wird ihnen das Lachen womöglich bald vergehen?

Hall wettet sein eigenes Vermögen

Wie das „Handelsblatt“ berichtet, setzt Hall immer größere Summen seines eigenen Geldes auf steigende Ölpreise, indem er so genannte Futures-Kontrakte für Öllieferungen aufkauft. Mittels solcher langlaufenden Verträge versuchen Öl-Unternehmen potenzielle Käufer mit Rabatten gegenüber den Marktpreisen zu locken. Hall spekuliert demnach darauf, dass der jetzige Preis für eine zukünftige Öllieferung, beispielsweise im Jahr 2019, weit unter dem dann tatsächlich geltenden Ölpreis liegt. Geht die Wette auf, verdient sich Hall wieder mal ein goldenes Näschen.

Der so genannte „Rohölgott“ scheint sich seiner Sache sicher, andernfalls würde er wohl kaum sein eigenes Vermögen riskieren. Allerdings ist von einem steigenden Ölpreis derzeit weit und breit keine Spur. Im Gegenteil, trotz diverser geopolitischer Konflikte, allen voran die Auseinandersetzungen zwischen Russland und der Ukraine, welche normalerweise den Ölpreis in die Höhe treiben würden, bleibt der Preis für das schwarze Gold nahezu unverändert. Woran liegt’s?

Fracking macht Hall ein Strich durch die Rechnung …

Grund hierfür ist die „unerwartete Energierevolution“, wie das „Handelsblatt“ es nennt. Die Rede ist vom Fracking-Boom, der Förderung von Schieferöl und -gas aus tieferen Gesteinsschichten. Dem Bericht zufolge ist die Ölproduktion in den USA dank der höchst umstrittenen Methode so hoch wie seit 27 Jahren nicht mehr. Das hat Auswirkungen auf den Ölpreis. Zum Einen, weil mehr Öl produziert wird und zum Anderen, weil die USA, eigentlich einer der größten Öl-Abnehmer, mittlerweile 84 Prozent ihres Energiebedarf selbst decken kann. Die Folge: der Ölpreis sinkt.

… oder etwa doch nicht?

Und jetzt kommt der Clou an der Sache: Gerade weil der Ölpreis sinkt, ist Hall so felsenfest davon überzeugt, dass er am Ende Recht behalten und seine Wette gewinnen wird. Denn fällt der Ölpreis erst einmal unter die Marke von 75 US-Dollar je Barrel, werden die neuen US-Produktionsstätten schnell unprofitabel. Das wiederum würde die Produktion schmälern und den Ölpreis im Endeffekt gemäß dem Angebot-Nachfrage-Prinzip wieder in die Höhe schnellen lassen, so Hall. Darüber hinaus handelt es sich beim Fracking um ein höchst umstrittenes Verfahrung und genau das spielt Hall ebenfalls in die Karten. Kritiker machen vor allem auf die umweltschädlichen Gefahren aufmerksam, die von der neuen Methode ausgehen, und kämpfen vehement und vielerorts auch erfolgreich gegen Fracking an (wallstreet:online berichtete).

Aus diesem Grund hält Hall den derzeitigen Fracking-Boom in den USA für einen „Blindgänger“, weil „einige Quellen schnell erschöpften und ein großer Teil kreditfinanziert sei“, schreibt das „Handelsblatt“. Sollte der „Gott des Rohölhandels“ also doch Recht behalten, wieder einmal? Der Erfolg der Vergangenheit spricht jedenfalls für ihn. Andererseits: In zwei der letzten drei Jahre erlitt Hall mit seiner Wette auf steigende Ölpreise herbe Verluste. Bleibt also die Frage: Wird Hall am Ende der strahlende Sieger oder doch nur der Dumme sein?

[Popeye82]

​China +Russia increase natural resources ties - MA - Nov 3, 2014

- C. Latimer -
www.miningaustralia.com.au/news/china-and-russia-increase-na…

"Russia and China are increasing their resources ties following bi-lateral talks on enhancing their cross-border mining co-operation.

It follows on the heads of Russia and China signing an agreement to establish a joint Russian-Chinese investment committee to expand investment flows between the two countries, with early estimates showing that by 2020 Chinese direct investment into Russia’s economy will increase by seven times.


Earlier this year the two nations signed massive gas supply contract worth around US$400 billion, will see 38 billion cubic metres of Russian gas supplied annually to China for three decades, and contains provisions such as the price formula linking to oil prices, and an important “take or pay” clause.

At the same time Russia is likely to overtake Australia as the world’s second largest gold producer, and has plans to quadruple its coal put levels by 2030, dwarfing Australia’s production levels.

And now this new agreement with China is likely to put Australia’s already shaky mining industry on even less solid ground.

In the wake of these agreements the Organising Committee of China Mining Congress and the Ministry of Natural Resources Ecology of the Russian Federation has organised a special session at MINEX China. "

[Popeye82]

Antwort auf Beitrag Nr.: 48.209.899 von codiman am 03.11.14 21:03:16

hier ist noch ein, weiterer, Artikel dazu
vielleicht stelle ich den noch ganz ein

Is the Fracking Boom Really Just a Bubble?
www.postcarbon.org/wp-content/uploads/2014/10/Drilling-Deepe…
http://cleantechies.com/2014/11/03/is-the-fracking-boom-real…
www.resilience.org/stories/2014-10-28/the-revolution-that-wa…

[Popeye82]

Iron ore price falls to 64-month low, Fresh Chinese weakness pushes iron ore price to lowest since Jun 2009, but rising premiums for high-quality imported lump offers some hope
www.mining.com/iron-ore-price-falls-to-64-month-low-75432/?u…

"The price of iron ore dropped to a nearly five-and-a-half year low on Tuesday amid increasingly negative sentiment on metals and minerals markets, a cloudy outlook for top consumer China and a supply surge.

The Northern China CFR 62% Fe benchmark import price tracked by The SteelIndex was pegged at $77.10 a tonne on Tuesday, down nearly 1% on the day.

The steelmaking raw material is now trading at the lowest price since June 15, 2009 and nowhere near the all-time high just shy of $192 a tonne hit in February 2011.

After an uneventful second half of 2013 when the price was stuck between $130 and $140 a tonne for 148 days straight, 2014 has brought on a relentless slide with losses of just under 43%.

The expansion of the Big 3 has been well documented (and lamented), but the fortunes of Fortescue Metals Group is even more emblematic of the supply flood.

Further out China's declared war on pollution should have positive consequences for high-quality mines

FMG shipped its first ore to China in May 2008. Now it's a 155 million tonne a year operation – equal to the total tonnage Brazil shipped to China last year. (Not that Vale is taking this lying down – S11D on its own will bring 90 million new tonnes on stream within only two years.)


Chinese domestic supply

While the impact of additional supply is clear and Chinese imports continue to climb and could reach more than 950 million tonnes at current growth rates, domestic Chinese production is much harder to quantify.

The country's miners produce some 350 million – 400 million tonnes a year on a 62% Fe-basis, although reliable stats are lacking (this figure is calculated working backwards from pig iron production).

Two short years ago $120 a tonne were considered a price floor; the thinking being that any extended period below this level would drive out high cost Chinese iron ore miners struggling with grades as low as 15%.

When $120 came and went, $100 was considered the level swing producers would abandon the market. With ore looking as if it's settling in below $80 assumptions about Chinese domestic supply are being severely tested.

Despite production costs north of $90, Chinese iron ore miners have actually been expanding, increasing production by more than 8% this year, and the reasons for their stickiness are plenty:

Not all Chinese production is at the top of the cost curve
Many mines are captive to steel mills
State-owned mines are not necessarily run on a commercial basis (retaining jobs takes precedence over profitability)
Local governments have been propping up mines with tax breaks, other incentives
Long-term agreements, security of supply and logistics for inland mills trump import discounts
Beijing, already importing over 70% of demand, may be wary of increasing reliance on foreign miners any further

Beijing, already importing over 70% of demand, may be wary of increasing reliance on foreign miners any further


War on pollution

The price is also being influenced negatively by short term factors as Beijing gears up to host the Asia-Pacific Economic Cooperation summit.

The Chinese capital and environs are imposing the most stringent pollution controls since the 2008 Summer Olympics to curb smog during the meeting of global leaders.

Steel mills in Hebei province, the country's steel producing hub in the region of the capital, are temporarily shutting off production, exacerbating the iron ore price declines.

But further out China's declared war on pollution should have positive consequences for exporters; provided the quality is right.

Because Chinese ore is of such a low quality most Chinese fines require a process called sintering before being fed into blast furnaces.

Sintering adds to the environmental impact and costs which does not fit well with Beijing's green agenda and plans to eliminate overproduction in the steel sector.

China's steelmakers have been substituting domestic supply with so-called "lump" ore from Australian, South African and South American producers that lower costs and cut pollution by reducing the need for sintering.

Premiums for high-quality lump last week hit the highest since April with some cargoes being put up for sales for as much as $94 a tonne according to Platts data. Pellets premiums have also risen, although still below the $41 a tonne reached in March this year. "

[Popeye82]

Antwort auf Beitrag Nr.: 48.223.654 von Popeye82 am 05.11.14 06:20:42

Gold hits four year low, Gold is continuing its downwards slide, dropping to a new four year low of US$ 1160 per ounce
www.miningaustralia.com.au/news/gold-hits-four-year-low?mid=…

"Gold is continuing its downwards slide, dropping to a new four year low of US$ 1160 per ounce.

This new drop is the latest blow for the metal, which has seen a consistent slide from its high point of almost US$1800 per troy ounce to its new low point.

Overall gold prices fell close to five per cent last week.

Gold was driven to historic highs following the Global Financial Crisis, after investors flocked to the metal as a safe bet in the wake of the extreme volatility in the financial markets and ongoing uncertainty over economic growth prospects.

From its average rate of US$ 1200 in 2009/10, the point at which it sits just below now, gold soared over the US and European debt crisis, but as these markets’ economic conditions have improved the price of the metal has swiftly decreased.

According to IBISWorld research the price of gold will rise again, however, stabilising above current rates and “are expected to increase in 2014/15 to an average of US$ 1411 per troy ounce as the global economy improves and inflationary pressures ease with higher interest rates in the United States and Europe”.

However this is having a flow on effect for the aforementioned gold producers, who will see their profit slashed in the wake of this price righting combined with the increased cost of actual production.

“Overall industry profit is estimated to have decreased from 12.6 per cent of industry revenue in 2009/10 to 8.7 per cent in 2014/15,” IBISWorld stated.

It went on to forecast these rate to decline even further over the next five years “with higher costs contributing to profit declining to a forecast 7.6 per cent of revenue in 2019/20”.

Unfortunately for many miners these current prices sit below their production costs.

CEO of brokerage firm Maison Placements Canada , John Ing, told Bloomberg that this situation is creating a new two tier market, with top tier companies operating good assets with lower costs, while others are saddled with low grade, high costs assets that began during the boom times for gold.

This is creating a new crisis point for the industry, as according to Fidelity Select Gold, up to a third of worldwide output will be pushed into a cash-flow negative position once gold falls below the US$1250 an ounce mark.

Lower price have already hit some miners, such as Barrick Gold which earlier this year recorded a net profit drop of 90 per cent, after its Q1 2014 net earnings fell to only US$ 88 million from the previous corresponding period’s earnings of US$ 847 million.

However the need for miners to re-examine their costs and push them below $1000 has long been on the table.

Earlier this year gold producers gathered at the 2014 Paydirt Australian Gold Conference to discuss the future of the industry in a worsening market.

Northern Star Resources managing director Bill Beament said at the event that although the company has a good record for maximising productivity and efficiency, the overall sector needs to address the expectation for improved cost performance in the upcoming market climate.

“We are aiming to achieve an all-in sustainable cost of $1050 per ounce on average across our four mines and this now includes reviewing all supply contracts and leveraging off the company’s buying power so that we reduce the total site cost per ounce,” Beament said. "

[Popeye82]

ich denk fundamentaaal ist das nicht sehr bedeutend, für den Uranpreis, aber als Zeichen

"And 'Another Key Approval For The Uranium Market'... "
http://piercepoints.com/?p=1382

I discussed last week about the municipal approval of restarts for two nuclear reactors in Sendai, Japan. With one of the knock-on items to watch for being further approval from the regional government here.

We didn’t have to wait long.

On Friday, the assembly for the prefecture of Kagoshima voted to support the local municipality in endorsing a restart of the nuclear units. Clearing one of the last hurdles for Japan’s first atomic energy capacity to come back online since the Tohoku earthquake.

Importantly, statements from the prefectural government were very supportive of nuclear. With governor Yuichiro Ito saying that “nuclear power is necessary for a while considering Japan’s energy policy.”

The decision means that–pending final safety checks–the two Sendai nuclear reactors could be operational again by early 2015. No exact timeline has currently been put forward by officials.

As mentioned in last week’s article, the restart of the Sendai reactors isn’t likely to cause a big impact on uranium demand. But as I anticipated, the looming restart here does seem to be acting as a rallying point for sentiment in the uranium space.

Just look at trading in the world’s most visible uranium player, Cameco. Following the announcement of the prefectural approval, Cameco’s stock jumped 11% on Friday–closing at its highest level since mid-September.

Stocks directly exposed to the uranium price faired even better. With “ETF” firm Uranium Participation closing Friday at a 7-month high share price.

Uranium prices themselves have been less reactive–although the metal has gained $1 the past two weeks, to currently sit at $36.75 per pound, its highest level in over a year.

Despite the lack of fundamental action in the market, it thus appears the coming Japanese nuclear restart may help to bounce uranium stocks out of the undervaluations they’ve been seeing lately. And return these companies to more-normal trading multiples.

Watch now for announcements on the exact timing of the Sendai nuclear restart–and any further reaction that comes in uranium stocks as we approach that key date.

Here’s to regaining approval,

Dave Forest "

[Popeye82]

The "Heart of This Shale Play Just Banned Fracking"
http://piercepoints.com/?p=1384

"Very critical legal battle shaping up this past week. In one of the most historic petroleum plays in North America.

That's the Barnett Shale of north Texas. Where opponents of unconventional drilling won a major political victory last week--one that could have ramifications for oil and gas development across this key state.

The move came in the city of Denton, a hamlet just northwest of Dallas. Where municipal voters approved a ballot banning the use of hydraulic fracturing within city limits.

This is the first such ban to be implemented in Texas--following similar measures in other shale-producing states like Ohio and Pennsylvania.

It also comes in a key location. With the city of Denton being located in the heart of prime acreage for gas production in the Barnett--the first unconventional play to see large-scale development in the U.S.

Of course, the actual area affected by the ban is small--being confined to Denton city limits. But the voting down of fracking here could set a precedent to be followed by other local governments in the state.

The petroleum industry appears to be concerned about such knock-on effects. Prompting the Texas Oil and Gas Association to file suit last week in Denton courts to overturn the ballot measure.

The Association is arguing that Denton's frack ban violates state law. Which gives holders of mineral titles in Texas the right to develop these resources.

The outcome of this court battle will be an important data point for Texas oil and gas going forward. Although the Barnett itself is not a major source of production growth, other Texas plays like the Permian and the Eagle Ford have been major hubs for drilling activity of late.

If Denton's ban ends up standing, it could set the stage for similar challenges in these plays. Watch for the next rulings in the challenge from the Oil and Gas Association.

Here's to constructive discussions,
Dave Forest "

[Popeye82]

"Watch For This "Key Decision" This Week In The Gold Market"
http://piercepoints.com/?p=1387

"Short but very important note this week. From one of the world's most critical gold-consuming nations.

That's India. Where top finance officials met yesterday to discuss the state of gold imports into the country--and potential new rules for this market.

Local press reported that representatives from India's Commerce and Finance Ministry, as well as from the country's Reserve Bank, met because of concerns over rising gold imports. With a spike in imports during the September festive season leading to worries over India's growing current account deficit.

Officials are therefore expected to discuss possible new curbs on gold imports. Including the re-introduction of the so-called 80:20 scheme--where gold importers are required to re-export 20% of the supply they bring into the country.

The 80:20 rule was originally imposed in July 2013. And led to a major fall in gold imports across India--and a significant reduction in overall global gold demand.

The government did away with the 80:20 rule this past May. Leading some observers to speculate that India could return to the gold market as a major buyer, helping to lift prices.

Indian officials however, have been cautious in allowing complete freedom for imports. With some import curbs such as higher duties still remaining in place.

If the 80:20 scheme is re-introduced, it could cause a further reduction in buying here. Acting as a drag on the market, and possibly affecting prices.

Watch for news from local Indian press on any decisions to come out of yesterday's meetings--and any new official policies on changes to gold import rules.

Here's to keeping your head up,
Dave Forest "

[Popeye82]

Low oil prices "to bite into 2015 US shale growth –IEA"
www.engineeringnews.co.za/article/low-oil-prices-to-bite-int…

"Falling oil prices may cut investment in US shale oil by 10% next year, the International Energy Agency (IEA) said, slowing growth in a sector that has turned the United States into a major global producer.


The recent drop in oil prices "should not blind us to the problems that may be around the corner," Fatih Birol, the IEA's chief economist, told Reuters ahead of the launch of the agency's 2014 World Energy Outlook.

Benchmark oil prices have dropped by about 30% over the past four months to around $82 a barrel due mostly to increased supplies from the Middle East and North America, squeezing budgets of oil-producing nations and oil companies.

"If prices remain at these lows, this may result in a decline in US upstream capital expenditures by 10% in 2015, which will have (an) implication for future production growth," Birol said.

The lower oil prices are also increasing debt levels for Brazil's state-owned Petrobras, which could lead to delays in projects there, too, Birol said at the launch of the report.

US shale oil output rose by 1 million barrels per day (bpd) per year over the past four years as strong oil prices led to a boom in fracking, a technique that uses materials under high pressure to release gas and oil trapped in deep rock.

US shale production is set to peak at around 4.5 million bpd in the 2020s before gradually declining, according to the IEA.

Oil prices could, however, rise as weak prices perk demand.

The IEA forecast global oil demand to rise from 90 million bpd in 2013 to 104 million bpd in 2040, when the energy supply mix divides into four almost-equal parts between oil, gas, coal and low-carbon sources.

On the demand side, while China has supported most of the global demand growth over the past decade, India and east Asian countries are set to become the main drivers, Birol said in a news conference.

"China energy demand growth is slowing down and in the 2020s it (the slowdown) will be much more pronounced," he said, as the world's top energy consumer becomes more energy efficient and its economic and population growth ease.

Strife in the Middle East, mostly in Iraq, poses a threat to future supplies - hampering investments necessary to sustain production growth there, Birol said.

Demand for gas is set to grow by more than half by 2040, the fastest rate among the fossil fuels, and increasingly flexible global trade in liquefied natural gas (LNG) will decrease risks of supply disruptions, the IEA said. "

[Popeye82]

Coal Exporters "Just Got A Big New Competitor"
http://piercepoints.com/?p=1389

"Rumours emerged last week of big changes coming in the coal market. From one of the world’s largest players in the business.

That’s China. Where officials are reportedly moving to change the country’s coal export policies–with potentially large consequences for other exporters globally.


Platts quoted “industry participants” as saying that the Chinese government is close to announcing a cut in coal export duties. With sources suggesting that export taxes could be reduced to 3%, from a current 10%, as early as January 1, 2015.

Coal companies were reportedly meeting on Friday with China’s National Development and Reform Commission, to finalize details around the new rules.

If a drop in export taxes does materialize, it could have a significant effect on the global coal market. China’s 10% export duty has been in place since August 2008, when it was introduced in preserve strategic coal resources for domestic use.

It now appears however, that officials no longer see a need to keep all of this supply at home. Indeed, domestic coal production has been surging the last several years–while consumption growth is no longer seeing the big increases it was posting over much of the last decade.

Faced with the possibility of oversupply, it appears that officials want to once again allow Chinese producers to sell to the rest of the world. With the cut in export duties intended to spur higher levels of exports. The move also comes after the government imposed higher duties on imported coal in October, in an attempt to limit shipments coming into the country and competing with domestic production.

All of this could mean that coal exporters such as Australia, South Africa and North America will be seeing increased competition. And it could happen within the next few months, if the January 1 date for policy changes turns out to be correct.

Some analysts have suggested the move will mostly impact the metallurgical coal market. With Chinese exports enjoying a cost advantage when shipping to key markets like Japan and South Korea.

Watch for news on official approvals of the new export policies. And increased competition coming in these markets–along with possible falls in prices, as increased global supply potentially leads to a buyers’ market here.

Here’s to opening up again,

Dave Forest "

[Popeye82]

China agrees to drop import tariffs on Australian resources - MA - Nov 18, 2014

- B. Hagemann -
www.miningaustralia.com.au/news/china-agrees-to-drop-import-…

"The mining sector has welcomed a new free-trade agreement (FTA) signed with China yesterday; a deal that was 10 years in negotiations which will lift export tariffs and provide for the importation of Chinese labour.

The FTA eliminates all Chinese tariffs on Australian resources and energy products.


Coking coal tariffs in China will be lifted immediately, and thermal coal tariffs will be gone within two years.

With 14 agreements affecting various Australian export industries, the deal is one of the most significant China has ever signed with a developed country, federal trade minister Andrew Robb said.

The new FTA will also allow China to bring skilled labourers to work on major Australian projects.

Robb has insisted this is no different to current legislation.

“It means that if there are no Australian labourers available - and it won't be labourers, it will be skilled workers - for a particular project, they will be able to apply to get an investment facilitation agreement,” he said.

Labor opposition highlighted that the government has refused to release the full details of the FTA.

Senate opposition leader Penny Wong said the text of the agreement would not be released until after it has been signed next year.

NSW mining said the new agreement will help to underpin future investment in NSW and help to secure jobs.

China accounts for 22 per cent of NSW coal exports, up from 1.1 per cent in 2007-08.

The International Energy Agency estimated that global demand for electricity may double on 2009 levels by 2035, and NSW Mining said coal is forecast to meet than increase in the next five years, over and above oil or gas.

Talk radio shock jock and Liberal supporter Alan Jones criticised Prime Minister Tony Abbott for the deal on air yesterday, criticising the purchasing freedoms the new agreement will allow China in Australia.

“Can Tony Abbott go and buy a farm in China? No, the answer is no Prime Minister, the answer is no he can't, nor can he buy a coal mine, nor can he buy a steel mill.”

Jones said the new agreement would fail the “pub test” and affect the Liberal party at the next federal election. "

[Popeye82]

Iron ore hits new low record
www.miningaustralia.com.au/news/iron-ore-hits-new-low-record…

"The price of iron ore has weakened again overnight as it slides towards predicted lows of $US70 a tonne.

Benchmark iron ore for immediate delivery to The Port of Tianjin in China was $US75.10 a tonne, down 0.6 per cent from its previous close.


This is the commodity’s lowest price since September 2009.

Iron ore has been on a consistent downwards trend this year, after it crashed into double digit territory in May from its historical triple digit highs, the first time it has fallen that low in two years.

It has lost around 45 per cent of its value since the start of the year, and matters are only expected to get worse.

Citigroup thinks iron ore will fetch $US72 a tonne for the first quarter of 2015 and crash to lows of $US60 a tonne in the third quarter before lifting again by the end of the year. "

[Popeye82]

Two "Breaking News Items in Uranium +Gold"
http://piercepoints.com/?p=1395

"A couple of news items emerging this week critical to some of my recent themes.

First, in uranium. Where it appears that momentum from reactor approvals I discussed the last few weeks is gaining speed.

The pickup in sentiment in this market is evident in the uranium price. Which this week moved up significantly for the second week in a row—hitting $44 per pound, according to industry analysts UxC.

That gives the metal a gain of $8 over the past few weeks alone. All coming since the Japanese town of Satsumasendai voted to approve the restart of two nuclear reactors—and the regional government assented.

Importantly, this now puts the uranium price at its highest level since January 2013. With the metal now up nearly 60% since the low of $28 per pound it saw in June.

Watch the price (www.uxc.com or www.uranium.info) over the coming weeks to see if the rebound continues. If so, uranium stocks will likely go along for the ride as well.

The other point of note comes from the gold market—where it appears we’ll have to wait for news on new import rules in India. But perhaps not long.

As I’d mentioned last week, officials in that key gold-consuming nation were meeting last week to talk about imposing new curbs on bullion imports. But reports in the local press suggested no immediate results came from those discussions.

Rather, officials said they are continuing to appraise the situation.

But stories have been swirling in the press this week saying that the Reserve Bank of India is pushing for tougher rules on imports. Leading to speculation that new curbs could be announced any day now.

Watch the local press (www.economictimes.indiatimes.com is one of the best) for announcements. And of course keep an eye on the gold price, for any reaction to new moves in this critical market.

Here’s to staying updated,
Dave Forest "

[Popeye82]

Nickel close to month-high, as Indonesia keeps ore ban
www.bloomberg.com/news/2014-11-19/nickel-advances-as-indones…
www.mining.com/nickel-close-to-month-high-as-indonesia-keeps…

"

- Mining and smelting plant in Indonesia, the world's biggest nickel ore exporter before imposing a ban in January. -


Nickel prices climbed to its highest level in a month on Wednesday, outperforming its base metal peers, as Indonesia confirmed a ban on exports of unprocessed ores remained in place.

Metal for delivery in three months on the London Metal Exchange rose 3.2% to $16,149 a tonne, extending gains over the past two and half weeks to 9.6%, after Bambang Adi Winarso, a senior adviser to the co-ordinating minister for economic affairs, announced the ban extension, Bloomberg reports.




Ore from Indonesia —the world’s No. 1 nickel producer— is used for generating about 30% of the global nickel supply, which in turn is used to make stainless steel.

Most of it is sent to China, where is processed into nickel pig iron (NPI), a cheap alternative to pure nickel.

The country effectively halted all but processed metal shipments in January in an effort to force miners to build smelters, winning the country bigger returns from exports of its mineral resources. "

[Popeye82]

New rumored 35% heavy rare earth tax in China, 1st since market ignited in 2011 - SH/EID/II, BEIJING - Nov 20, 2014
www.stockhouse.com/blogs/china-rare-earths-intel/november-20…

"For the first time since 2011, China is considering a 35% resource tax on the heavy rare earths and a 22% tax on light rare earths. - The government is considering a proposal to levy a 35% new resource tax on the ion-absorbed-type middle and heavy rare earths in the southern areas and to a 22% new resource tax on the light rare earths in the northern areas, according to the Beijing-based Economic Information Daily reported on November 20th, citing an unnamed authoritative source.

What makes this interesting is that The resource tax would be based on sales value instead of volumes. To levy a resources tax on rare earths based on sales value instead of production volume, will increase rare earth producers’ operating costs; which will undoubtedly drive rare earth prices sharply. The rare earth tax reform will help reduce cheap rare earth exports and help boost much needed industrial upgrading towards achieving environmental goals. Additional benefits include the protections of strategic resources in the country. ...
http://investorintel.com/rare-earth-intel/new-rumored-35-hea… "

[Popeye82]

Paul Wilson, CEO, World Platinum Investment Council: "We will help investors by providing better data on platinum"
www.mining.com/web/paul-wilson-ceo-world-platinum-investment…

"Paul Wilson recently took up the role of Chief Executive Officer at the newly created World Platinum Investment Council (WPIC). The Council was launched by a group of six platinum producers in South Africa, in order to further develop the global market for platinum investment.


Readers may know that our affiliate Sprott Asset Management LP manages one of the largest above-ground stockpiles of platinum in the world, in the form of the Sprott Platinum and Palladium Trust (NYSE: SPPP). For more information, click here.

What will the World Platinum Investment Council do? Their CEO Paul Wilson was kind enough to call me up and tell me what it’s all about:

“We are launching a new organization called the World Platinum Investment Council – an entity focused on helping investors. Platinum is already a serious investment asset but we don’t think it has been fully considered by many investors as it should have been. Part of the reason has, to date, been a lack of high quality market data and a perception of opacity. The purpose of WPIC is to shine a light on the market, giving investors access to high quality information that will help them make more informed decisions while increasing their understanding of platinum’s investment potential.

The purpose of WPIC is two-fold, to provide much better market data on platinum and, in due course, help facilitate new routes to invest in the metal.

We will provide data on supply and demand, as well as above-ground inventory information, on a quarterly basis – this is a first for the metal. Significantly, we will be presenting a much better analysis of above ground stocks than has been done previously. We are working with SFA Oxford in the UK, who are finalizing the first, independent quarterly analysis, which will be available on December 3rd 2014. Crucially, WPIC is opening up this data to anyone; it’s free and you will be able to sign up to receive it by visiting our website (www.platinuminvestment.com).

Currently, 36 percent of demand comes from automobile usage in catalytic converters. 34 percent comes from jewelry. Another 20 percent is used in industrial applications. Finally, 10 percent comes from investment. Demand has been rising by around 2 percent per year over the last 5 years, principally because of increased usage in jewelry and investment.

How do we get our data? We look at the basis for consumption in each category. We go to people who are working with platinum buyers, and we try to understand how much platinum they are using, how they use it, and how they plan on using it in the future. On the supply side, we will be talking to the miners and trying to get as much information as possible about how much platinum they produce, how much metal there is, and what they’ll be putting out in the future. It’s a detailed research task but one that will be a game changer in terms of market information for investors.

The information that will come out each quarter will be an analysis of supply and demand, and the above-ground stocks of platinum. We will also provide a next year forecast starting from mid-2015. We will then be looking at the investment performance for platinum – how it has appreciated in value over the years and served as an effective store of value. Platinum has appreciated over 20 years at a similar rate to gold and silver, and more quickly than global equities and equities and real-estate in the UK. Over the last 30 years, platinum1 has appreciated more than gold2, and a lot more than silver (ed. note: taking 1984 average prices to today November 20, platinum has risen from $357 an ounce to $1213, a 240% rise1. Gold has gone from $361 to $1,190, a 230% rise2. Silver has gone from $8.14 to $16.13, a 98% increase3)

I think that platinum has been treated as a niche product by investors in the past. Our improved data and perspective will broaden its appeal and will be of use to existing and new, sophisticated and regular investors.

On the sophisticated investor side of the equation, we’re looking to attract mutual funds, insurance companies, and others of that nature to invest in platinum. I think platinum is an asset that should be considered by high net-worth individuals in North America, Europe, and Asia.

Platinum should also be of interest to retail investors. The products that investors might be interested in are broad – they could be physical bars and coins, or exchange-traded products like the Sprott Physical Platinum & Palladium Trust. In China, for instance, we will look to set up ‘accumulation funds’ so that individuals can contribute an amount per month which would go towards the purchase of physical platinum bars which they could eventually take away and store.

We will also be looking at whether or not worldwide markets have suitable exchange-traded funds set up to help investors purchase exposure to platinum and, often, help hedge against their weak domestic currencies. If in some countries, more sophisticated products are needed for family offices or institutional customers, we will look to work with existing financial institutions to try to fill those gaps.

For all these types of investors, whether retail, institutional, or family office, we think we will provide a benefit with improved information on platinum.

Our group is backed and funded by the six largest platinum miners in South Africa. The idea is that more transparent numbers on world production, usage, and available supply will benefit all investors in platinum.”

As readers may know, platinum supplies have threatened to decline for some time now. Mines are not making enough money to stay open. For Rick Rule, this is the real underlying cause of the violent protests that occurred at platinum mines in the last year. Workers need to get paid a decent salary, but platinum mines aren’t generating enough cash to give them a raise.

Nick Holland, CEO of South African gold mining firm Gold Fields Ltd., echoed the same conclusion, saying that the prospects for higher salaries for the 280,000 mine workers was dim without higher platinum and gold prices.

Because platinum mines are becoming deeper and less economic (our in-house geologist Andy Jackson has explained why), commodity experts have been calling for higher platinum prices this year. They’ve been wrong. Platinum prices have remained low. This raises questions about how much supply is really out there and whether demand can outstrip available inventory. The new Platinum Council’s upcoming report is meant to shed some light on this question. Stay tuned for what we find out.


P.S.: Sign up here to subscribe to Sprott’s Thoughts for free and hear more about this issue.

By Henry Bonner

1 http://minerals.usgs.gov/minerals/pubs/commodity/platinum/55…

2 http://www.nma.org/pdf/gold/his_gold_prices.pdf

3 http://minerals.usgs.gov/minerals/pubs/commodity/silver/8807… "

[Popeye82]

wer mal ein "besonderes Geschenk" braucht, wenns mal was anderes als Socken sein sollen
mir scheinen die Startgebote sogar erstauuunlich niedrig(relativ zum Gegenstand)

Are you flush? Meteorite auction is underway, current lowest bid is US$750 for a slice of meteorite NWA 7502, that contains dust of the early solar system
www.mining.com/are-you-flush-meteorite-auction-is-underway-5…

"Christie's is holding an online meteor auction from November 11-25 featuring lunar, martian and asteroidial meteorites.

The current lowest bid is US$750 for a slice of meteorite NWA 7502 that contains dust of the early solar system. The highest bid is US$14,000 for a complete slice of the imalic meteorite, "considered to be the most beautiful of all meteorite varieties."

Here are some our favourites. See all the meteorites at Christie's auction page:


A Complete Slice of Imilac Meteorite



Current bid: US$14,000

Discovered in the Atacama Desert, Chile, 1822; modern cutting. "Imilac is a member of the pallasite group of meteorites, widely considered to be the most beautiful of all meteorite varieties."


A Gibeon Meteorite Sphere; modern cutting



Current bid: US$4,000

Discovered in Namaland, Namibia, 1836. "Gibeon is a spectacular iron meteorite from Namibia. Although familiar to the natives, who had hammered parts of it into metal weapons, the Gibeon meteorite was not known to westerners until about 1836."


A Zoomorphic Gibeon Meteorite with a Natural Hole



Current bid; US$45,000

From Gibeon, Great Nama Land, Namibia. "[This] Gibeon meteorite features a naturally formed hole as a result of terrestrialization, or exposure to the elements. It is rare for meteorites to exhibit such holes, and rarer still when the hole is positioned in the matrix in such a way as to yield an aesthetic specimen."


An End-Piece from a Seymchan Meteorite



Current bid: US$48,000

Discovered in Russia, 1967; modern cutting. "Seymchan is an unusual and remarkable pallasite; large portions of the rock are olivine free." "

[Popeye82]

Goldman Sachs getting out of coal, uranium, Goldman Sachs, the biggest trading firm on Wall Street, will wind down its uranium trading business +may sell its coal mine subsidiary in Colombia, according to a Senate report released last week
www.mining.com/goldman-sachs-getting-out-of-coal-uranium-397…

"Goldman Sachs, the biggest trading firm on Wall Street, will wind down its uranium trading business and may sell its coal mine subsidiary in Colombia, according to a Senate report released last week.


Speaking ahead of a Senate hearing last Thursday, the co-head of Goldman Sachs' Commodities Trading Gregory Agran said "the uranium business had posed no environmental risks and the bank never took physical possession of the material," Reuters reported.

"Notwithstanding these various considerations, given the misconceptions about this business, we have decided to manage down Nufcor's assets to zero," Agran said in remarks to the committee.

Goldman got into the uranium trading market when it purchased Nufcor from Constellation Energy Group in 2009. That year, as uranium prices soared prior to the Fukushima disaster in 2011, Goldman and Deutsche Bank were the only banks actively trading uranium. The two banks were handling nearly a third of all spot trades in the uranium market according to sources quoted by Reuters. Goldman's trading of yellowcake, or U308, rose tenfold from 2009 to reach 12.8 million pounds in 2013, the Senate report states- with the value of its uranium inventories surpassing $240 million.

Meanwhile, Goldman Sachs is considering selling Colombian National Resources (CNR), its coal mining subsidiary in Colombia. "Goldman bought the mines in 2010 and 2012, but the investments have been troubled… Because of new environmental regulations, CNR has not exported any coal since January," according to the report.

Goldman Sachs has been bearish on coal since May, when bank analysts said that with Chinese demand for imported coal past its peak, demand for seaborne thermal coal will grow a mere 2% a year on average to 2018. This, they added, will leave coal prices too weak to generate profitable investment from new mines and infrastructure. "

[Popeye82]

Tesla Gigafactory one year ahead, supply deals close, Electric vehicle manufacturer confirms lithium-ion battery super-plant on track for 2016 launch; supplier agreements close - Nov 11, 2014

"Tesla Motors has revealed its much anticipated Gigafactory, presently being constructed in Nevada, USA, is up to one year ahead of schedule as preparation for the site continued in Q4 2014 at an accelerated pace.

The company only broke ground at the site in June 2014, but is expected to start producing batteries at the $4-5bn plant within the next two years.

Tesla has also revealed that it is not only targeting electric vehicle (EV) batteries with the Gigafactory output but also stationary storage applications to store the intermittent energy generated from wind and solar sources.

“By the time the Gigafactory reaches full, annualised production in 2020, we expect battery pack production capacity to reach 50GWh,” Tesla Motors explained.

“Of this, we expect to build 35GWh of cell production capacity at the Gigafactory and purchase 15GWh of cells from other manufacturers, potentially including Panasonic.”

The rapid progress in Nevada has also meant that the Gigafactory batteries will be used in the Model S and the Model X in addition to Tesla’s new mass market vehicle, the Model III due for launch in 2017.

The goal for the company is to reduce the cost of manufacturing batteries by up to 30% and drive down the cost of EVs in a bid to spark mass uptake.


Gigafactory supply agreements close

Tesla also explained that it was close to announcing other partners to add to its agreement with Panasonic in September.

“Additional Gigafactory partners will be finalised shortly to create a fully integrated industrial complex,” Tesla explained.

“Although planning discussions with production and supply chain partners continue to progress well, to date we have not formalised any agreements with any other partners.”

The key question for Benchmark Notes readers is whether that means raw material partners and those companies that will supply graphite, lithium and cobalt to the Gigafactory.

Benchmark Mineral Intelligence believes that the market should not expect any agreements with mineral and metal companies until well into 2015.

With a project the sheer size of the Gigafactory, Tesla will have to deal with hundreds if not thousands of suppliers. For example the Model S uses 2,000 parts purchased from 300 suppliers globally many of which, the company admits, are single source suppliers.

For the company, locking in partners with upstream experience of producing lithium-ion cells is critical as it has no previous experience in this. At present it has only enlisted Panasonic as a partner but that is purely to build the cell manufacturing area of the Gigafactory.

Tesla will need to establish its own supply chain and negotiate its own raw material contracts independent to Panasonic.

But first, the next major expected step is securing the know-how for the production of cathode, anode and separator materials – the three key components to a lithium-ion battery. Once this experience is in place, then one would imagine Tesla would seek to secure the raw materials they will need.

It is an interesting conundrum for Tesla however.

If the Gigafactory was at capacity today, together with existing global demand levels of 35GWh of cells, the company would not be able to buy the battery-grade raw materials it needs.

The additional capacity would simply not be available to supply the Gigafactory's needs and the rest of the world at the same time.

With the grand project, what Tesla is asking the world to do is to more than double the output of battery raw materials in a fraction of the time it would normally take to develop and at huge risk to suppliers.

Therefore while it may be prudent for Tesla to learn the supply scene for these minerals and choose the best deal, time is not on the side of the planners, especially with a Gigfactory a year ahead of schedule.

Any raw material or precursor supplier – whether a new mine prospect or an existing producer – will need at least two years to prepare for a Gigafactory supply surge.

The race is most definitely on.

Simon Moores
Benchmark Mineral Intelligence
London "

[Popeye82]

The 2015 Metals Outlook Series: Copper, Australian Mining looks at the forecast for metals +minerals next year, in its annual Metals Outlook series. In this edition we focus on copper
www.miningaustralia.com.au/features/the-2015-metals-outlook-…

"Copper mining is a dying industry, having passed the point of maturity it is now in decline.

While there is extremely moderate growth predicted in the next five years, the world price of copper is forecast to steadily decline.

The future is not bright for this crucial metal, even as demand slowly increases.


According to a BHP Billiton presentation and recent United Nations data, demand for the metal will increase as many third and second world nations develop, creating long term drivers with increased consumption as they build their infrastructure.

This in part is due to the massive shift society is seeing, precipitating a decline in rural populations to greater urbanisation and in turn economic development.

With the global population currently standing at more than 7.1 billion it is almost evenly split 50/50, however "the urban population is expected to grow globally from 3.6 billion (as of 2010) to 4.3 billion (in 2020) and to 5 billion in 2030," the UN data stated, eventually accounting for 60 per cent of the world's total population.

Unicef reports that by 2050 around 70 per cent of the world will live in cities.

Australia will also be one of the most urban nations in the world, with 94 per cent of people living in cities or metropolitan areas.

China and India alone will have cities with more than a billion people living in them.

In the meantime the rural population is predicted to remain flat at around 3.5 billion for the next three decades.

As part of this massive shift towards urban centres commodity demand is forecast to grow in line.

These people will need to build, power, and run their cities, and copper will be the metal that will allow them to do so.

According to BHP "Chinese copper intensity doubles from rural (less than 500 000 people) to smallest urban centres; and more than triples from rural to large urban centres".

It is proven that demand evolves with economic development, although "copper [does] plateau later in the industrialisation cycle" both "China and India are still in the early stages of development".

In explicit terms, the total demand for semi-fabricated products is expected to grow at three per cent compound annual growth rate (CAGR) over the coming decade, with the primary drivers China and India sitting at five and ten per cent CAGR respectively.

While average industry copper grade percentages remained fair-ly consist in process feed from 1980 to 1998, they have been on a sharp downward slope that looks to get only worse.

High grades, high quantity mines such as Escondida, Grasberg, Bingham, Olympic Dam, Prominent Hill, Northpakes, Cadia or Ernest Henry are unlikely to be on the cards again.

"Due to these declining grades the average run of mine (ROM) grades for copper have actually fallen by three quarters to less than one per cent, yet at the same time annual supply increased from under one million tonnes to more than 16 million tonnes," BHP CEO Andrew Mackenzie said.

According to a Wood Mackenzie report from 2012 "copper grades have declined at an average rate of 2.8 per cent per annum over the last decade".

It went on to state that at current production rates the quality will continue to decline due to the depletion of existing resources and these lower grade ores.

As Wood Mackenzie points out: "New discoveries have not been able to reverse the long term trend [of decline]".

This, coupled with BHP's Andrew Mackenzie's comments on grades, projects a bleak future.

And while there is likely to be a short term spike as long awaited projects come online, in the longer term the forecast resource depletion means that a new, and currently unknown supply is needed.

The only likely saviour, in terms of Australian producers, is a weak Australian dollar, which will push up revenues despite prices remaining fairly flat.

According to IBISWorld re-search "industry revenue is fore-cast to grow at an annualised rate of 1.5 per cent over the next five years to US$7.1 billion in 2019/20".

"This reflects the combination of higher output levels, a weaker Australian dollar and higher US dollar prices.

"If the Australian dollar de-preciates against the US dollar, export demand increases and contracts will earn domestic players more revenue."

Speaking to BNP Paribas managing director energy and natural resources - investment banking Asia Pacific, David McCombe, he explained in the short term "copper will be coming off over 2015 through to 2017, but it will be moving up again to the back end of 2017."

Much of this is due to the "current imbalance because of higher supply, as there is around 23 million tonnes of supply but only about 22 million tonnes of demand".

"This will not be a massive move down, but this oversupply will hurt for some time."

ANZ head of economics corporate and commercial, Justin Fabo, added that "copper looks vulnerable enough to slip back through the US$7000 per tonne mark as we approach the normally quiet northern hemisphere summer".

"Operating rates at copper tube and pipe fabricators fell below 80 per cent mid-year, an indication that end-user demand is weak; we would be positioned for some further downside in the short-term."

However IBISWorld added "increased output [will] more than offset lower Australian dollar copper prices".

Looking beyond this period Wood Mackenzie estimates a price of US$300 per pound by 2020 and beyond while analysts polled by Consensus Forecast expect an average of US$291.8 per pound for 2018 through to 2022.

In terms of revenue for the industry growth rates are set to slow progressively over the next few years before entering into a brief period of decline in 2017/18, before returning to minimal growth in the next period. "

[Popeye82]

the performance of every major asset class, so far in 2014
www.mining.com/web/infographic-the-performance-of-every-majo…

[Popeye82]

Reuters, 1. Link, ausführlicher

Price fixing lawsuits come to platinum, palladium market, Interest rates, gold, silver +now PGMs
http://uk.reuters.com/article/2014/11/25/uk-platinum-palladi…
www.mining.com/price-fixing-lawsuits-come-to-platinum-pallad…

"Interest rates, gold, silver and now PGMs…

The banks and German industrial firm set up the benchmarking system in 1989, but the London Metal Exchange will take over December 1 using a new electronic platform.




In a complaint filed on Tuesday in the U.S. District Court in Manhattan, units of Goldman, BASF, HSBC Holdings Plc and South Africa's Standard Bank Group Ltd were accused of having conspired since 2007 to rig the twice-daily platinum and palladium "fixings" and the prices of futures and options based on those fixings.

The plaintiff, Modern Settings LLC, a Florida-based company that said it bought the metals, claimed purchasers lost millions of dollars because the defendants illegally shared customer data, used that information to engage in "front-running" of expected price moves, and manufactured phantom "spoof" orders. ..."

[Popeye82]

Antwort auf Beitrag Nr.: 48.394.694 von Popeye82 am 24.11.14 08:42:02

1. Link ist das ganze Untersuchungspapier

U.S. Senate reveals top banks ‘unfair advantage’ in physical commodities business - M.com/USS/WSJ, WASHINGTON - Nov 20, 2014

- Cecilia Jamasmie -
www.mining.com/wp-content/uploads/2014/11/senate-report-on-w…
www.mining.com/wp-content/uploads/2014/11/senate-report-on-w…
http://online.wsj.com/articles/senate-report-says-banks-gain…
www.mining.com/u-s-senate-reveals-top-banks-unfair-advantage…

"

- The big Wall Street banks such as Goldman Sachs Group Inc. and JPMorgan compromised market integrity and put the broader financial system at risk., says a U.S Senate extensive report. -


A two-year probe into U.S. Senate-led into Wall Street’s top three banks’ involvement in physical commodities has concluded they exposed themselves to catastrophic financial risks, environmental disasters and potential market manipulation by investing in oil, coal and power plants.

A report published by the Senate’s Permanent Subcommittee on Investigations say the heavy involvement of Goldman Sachs (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS) in the business of storing and moving commodities like oil, aluminum, uranium and copper also gives them unfair trading advantages in financial markets.


The 400-page report, which was made public on Wednesday evening, adds the lenders assumed a role of such significance in the commodities markets that it became possible for them to affect prices paid by consumers, while also securing inside information about the markets that could be used by their own traders.


Banks defend their businesses

Bankers from Goldman Sachs and JPMorgan, along with other industry executives and regulators, will testify about the allegations at hearings today and Friday. According to the Wall Street Journal, they will address several questions, including “conditions at a Goldman-owned coal mine in Colombia and the airline fuel arrangements that Morgan Stanley struck with United Airlines.”

The subcommittee also studied over 30 power plants owned by JPMorgan, as well as its copper activities and trades.

Last year, JPMorgan had to pay a $410m penalty to settle with the Federal Energy Regulatory Commission, which accused the bank of manipulating energy markets at the expense of consumers.

You can read the full report here. Charts and exhibits can be found here. "

[Popeye82]

Antwort auf Beitrag Nr.: 48.394.694 von Popeye82 am 24.11.14 08:42:02

UPDATE 1-Deutsche Bank shuts down physical precious metals trading - R, LONDON - Nov 27, 2014

- Jan Harvey -

* Bank exiting physical commodities business

* Move to cost fewer than 5 jobs, bank says(Adds background, comment)
http://in.reuters.com/article/2014/11/27/deutsche-bank-preci…

"Deutsche Bank is winding down its physical precious metals trading business, it said on Thursday, moving to further scale back its exposure to commodities.

The closure of the business will result in the loss of fewer than five positions in London, a spokesman said.


"Certain parts of the physical precious metals trading operations may be re-housed within other divisions of Deutsche Bank and we will address this over the coming months," the bank said in a statement.

The decision to close down the physical precious metals business comes after Deutsche Bank shut its other physical commodities business, covering energy, agriculture, base metals and dry bulk, in December 2013.

The bank will retain some precious metals capability though its financial derivatives business, it said.

Higher capital requirements and increasing political and regulatory scrutiny have eroded profits from trading raw materials and led several big banks to divest assets and operations.

Gold prices have fallen by more than a third from the record high they hit just over three years ago.

Deutsche Bank was, until the beginning of the year, one of five banks that operated a twice-daily gold price benchmark known as the "fix". It later resigned its seat in the process, which it had held for two decades, after failing to find a buyer.

Along with other precious metal benchmarks, the gold fix has come under increased regulatory scrutiny since a scandal broke in 2012 over manipulation of the Libor interest rate.

The banks operating the twice-daily gold fix announced earlier this year it would be abandoned, to be replaced by an electronic system operated by U.S. bourse Intercontinental Exchange (ICE).

Sources close to the matter said in June that Deutsche Bank was conducting its own investigation into trading around the setting of the benchmark, in addition to one being carried out by Germany's financial watchdog Bafin. (Editing by Veronica Brown and Mark Potter) "

[Popeye82]

Copper hits 4-year low in New York, End of strike @Peru’s biggest copper mine +weaker oil prices drove Dr. Copper goes to the ICU
www.mining.com/copper-hits-4-year-low-in-new-york-20370/?utm…

"

- Bad week for copper. -


Copper futures hit a four-year low Friday on the Comex division of the New York Mercantile Exchange, as a strike at Peru’s biggest copper mine came to an end and weaker oil prices drove metals lower.

The industrial metal traded 3.2% lower at $2.861 per pound at the time of writing. Earlier it touched $2.8515, the lowest for a most-active contract since June 10, 2010 on reports that Peru’s Antamina, the world’s sixth largest copper mine, will return to normal operating levels next week.

Oil prices continued their sliding trend Friday, trading down $4.42 from Wednesday’s closing price to a 4 1/2 year low of US$69.27 a barrel. Prices have plunged about 35% from mid-summer highs because of a higher U.S. dollar, lower demand and, especially, global oversupply. "

[Popeye82]

Antwort auf Beitrag Nr.: 48.361.717 von Popeye82 am 19.11.14 16:47:13

India scraps gold import restrictions, Surprise decision come in the wake of falling oil prices
www.mining.com/india-scraps-gold-import-restrictions-19427/?…

"The Reserve Bank of India has just announced on its website the scrapping of restrictions on gold imports, and the withdrawal of the so-called 20:80 rule which forces traders to re-export 20% of all imports.

The import curbs came into force in August 2013, to shore up the tanking rupee and tackle the country's current account deficit which had ballooned to 5.5% of GDP.




The surprise decision – most observers were calling for a tightening – did little for the price of gold in New York, which was last trading down nearly $20 an ounce at $1,178 an ounce, the lowest in more than two weeks.

Although details of the move still has to be disclosed it's likely that the precipitous fall in the price of oil – India's top import ahead of gold – played a role.

Indian gold imports have surged recently, but the decline in crude price will soften the impact should Indian traders continue to ramp up purchases.

Image by Eric Kim "

[Popeye82]

prinzipiell scheint mir sinnmachende Überlegung
ist aber, auch immer, die Frage wie schnell sowas durchschlagen kann, und in was für einem Maße

Low oil prices good for PGMs, A Scotiabank analyst noted Thursday that when oil prices drop heavily on ample supply and strengthening consumer demand, car demand tends to surge
www.mineweb.com/mineweb/content/en/mineweb-platinum-group-me…

"So the oil prices drop as supply abounds and OPEC appears unwilling to pinch its market share to bolster prices. It's an early Christmas present (or answer to a timely Thanksgiving prayer) for consumers, especially in the US where household debt levels have been sinking as Americans emerge stronger from the 2008-2009 financial. The drop in oil prices means wallets will be padded with extra cash. This year under the Christmas tree across the US there is likely to be a noticeably higher gift count - among them keys to new cars.


American car sales have made a long, slow recovery out of the 2008-2009 financial crisis and recently matched pre-crisis boom-time levels. They were, before oil dropped, already set to be stronger still in the coming year given lower debt levels in the US. Now, with lower oil prices, Americans suddenly find themselves taking home more money after less painful trips to the pump. It - the savings - may start adding up in serious and mean a boon to consumer spending. Car buying, if oil prices stay lower, could hit levels not fully digested by the market just a month or so ago, when crude seemed a lot more expensive, relatively speaking.

Carlos Gomes, a Scotiabank analyst, noted Thursday that when oil prices drop heavily on ample supply and strengthening consumer demand (which is to say not in anticipation or conjunction with a global economic crisis when it also can drop) car demand tends to surge. Back in 1994. when oil dropped like it has recently, American auto sales leaped 9%. Globally, already, they were up 3% in October over the year previous - a record. China is number one, demand wise. The US, near China's equal, is number two. Europe is number three. Combined they account for about two thirds global vehicle demand.

Now we come round to the implications for metals: With suddenly cheap oil, demand for platinum group metals (PGMs) may benefit in ways that were not previously anticipated by the market. The PGMs are used in catalytic converters to clean exhausts.

Indeed, demand by car manufacturers dominates. For instance, about three quarters of palladium demand in 2013 came from the car sector, according to statistics compiled by Johnson Matthey's Platinum Today. Spot pricing of palladium - which is used particularly in gas engines that are favoured by Americans - seems to have only reacted to the reality of low oil prices just recently. Through most of November they were stuck in a funk between $750/oz to $770/oz, while oil fell. But in the past week they broke $800/oz. Thursday, spot palladium made particularly strong gains.

Maybe cheap oil does not portend a major rally in PGM prices. At current spot, many analysts had seen fairness in palladium before oil prices dropped. Some, but not all, view $900/oz as reasonable in the year or so to come. Indeed, in the grand scheme of things, these are high prices. Palladium spent most of the past half decade under $800/oz, sometimes by quite a bit ($600/oz in 2012, under $400/oz in 2009). But it's still good news for PGMs.

No one was saying just a few months ago that oil prices would crash and consumers, especially in the US, might have more cash than usual to spend - this ahead of the Holidays. Cheap oil should change economic outlooks a little and, as far as PGMs go, it should at the very least support prices in ways that were not previously appreciated. It may even tip fortunes in favour of more bullish scenarios. "

[Popeye82]

Antwort auf Beitrag Nr.: 48.402.500 von Popeye82 am 24.11.14 21:44:11

The "battery megafactories are coming", Tesla Motors, LG Chem +Foxconn plan 'super-battery plants' for launch in the next three years; investment to range from $5,000,000,000 -7,000,000,000

"Global battery production is expected to receive a turbo boost in the next three years as some of the world’s biggest corporations and disruptive technology companies prepare major entries into the market.

Tesla Motors, LG Chem and Foxconn Technology Group are all constructing what can be described as battery super-plants for the electric vehicle (EV) market.

On all three sites – which range from US to China – ground has been broken and investment has been made for launch as early as 2015.


Total investment from all three companies is expected to top $5bn and could reach as high as $7bn as they vie for a leading position in a major new global industry.

LG Chem is anticipated to be the first onto the market towards the end of next year with its 7GWh plant in Nanjing, China at a cost of $500m, Benchmark Mineral Intelligence estimates.

The last issue of Benchmark Notes revealed that Tesla Motors is ahead of schedule on its $4-5bn Gigafactory now expected at the end of 2016. Foxconn, the producer of Apple iPhones and iPads and owned by Hon Hai Precision Industry in Taiwan, has also revealed its ambition to enter the EV market with a 15GWh*, $810m* plant in Anhui, China.

The battery industry is presently dominated by companies such as Samsung SDI, Panasonic, and Johnson Matthey, but these majors have held back from any significant investment into the EV sector to date.

Instead they have decided to focus on smaller scale production and joint-ventures rather than huge new megafactories.

These plans will have a significant impact on the raw materials fuelling the three megafactories, graphite, lithium and cobalt especially, as will the additional growth in the EV battery market which is expected to range, in Benchmark's conservative estimates, from 10-15% a year.

The industry will need to be prepared for a raw material surge in 2016 as buying starts for these three plants in what could be a significantly disruptive event. "

[Popeye82]

Antwort auf Beitrag Nr.: 48.361.717 von Popeye82 am 19.11.14 16:47:13

" "No One" Expected This Move in Gold Markets "
http://piercepoints.com/?p=1398

"Colombia to Bangkok the last two weeks. And now back with perhaps some of the best news this year for the gold sector.

That comes from critical consuming nation India. Where officials made one of the most surprising moves yet in the ongoing saga over gold imports.


The Indian government announced this week that it is easing one of the major restrictions on gold imports: the so-called “20:80 rule”.

Under that scheme, importers of bullion have been required to re-export 20% of the supply they bring into the country. Making it more difficult for sellers to provide gold for sale.

The restriction had been eased earlier this year for some “preferred” gold sellers. But rumours had been circulating as recently as a week ago that the government was looking at reimposing the rule across the board–in an attempt to control gold imports, and reduce the nation’s current account deficit.

The announcement of a complete lifting of the rule thus comes as a major surprise.

Little reason was given for the about-face in policy direction. Officials from India’s finance ministry simply noted that the 20:80 rule had been put in place to “deal with the current-account deficit problem, which is now under control.”

It thus appears that the government has either had a change of heart over its fiscal situation. Or perhaps bowed to pressure from the strong gold-sellers lobby in the country.

Whatever the case, the news was well-received in gold markets globally. With the bullion price rising nearly $70 per ounce on Monday.

Any opening for greater gold imports into India could be a key factor in underpinning prices. Look for confirmation in trading over the coming weeks. If the metal holds above $1,200, this could also become a significant rallying point for gold stocks.

Here’s to big decisions,

Dave Forest

[e-mail] "

[Popeye82]

China's Nov iron-ore imports hit second lowest this year - MW/R, SHANGHAI - Dec 8, 2014
www.miningweekly.com/article/chinas-nov-iron-ore-imports-hit…

"


Chinese iron-ore imports tumbled to their second-lowest this year, data showed on Monday, as steel mills and traders in the world's top consumer held back on restocking amid expectations of further price falls.

Shipments to China slid 15.1% to 67.4-million tonnes in November from the previous month and were down 13.4% on a year earlier, according to data released by the General Administration of Customs.

The figure was the lowest since imports of 61.2-million tonnes in February, although total imports for the 11 months to November still rose 13.4% to 846-million tonnes from a year earlier.

China's steel exports, however, surged to a record high in November of 9.72-million tonnes, up 13.7% from the previous month, as producers took advantage of lower prices to offset weakening domestic demand.

Slowing economic growth in China has hit demand growth for a raft of commodities including iron ore and steel. China's imports fell unexpectedly in November while export growth slowed, adding to concerns the world's second-largest economy could be facing a sharper slowdown.

Iron ore prices have been further dampened by surging output from Australia and Brazil, the world's two biggest suppliers.

"As some steel mills have already built up stocks in October and prices have been falling, big traders have largely cut their buying, especially as they do not see any improvement in prices in a well-supplied market," said Jin Tao, an analyst with Guotai Junan Futures in Shanghai.

"China's steel production cutback during the APEC meeting in early November also hit consumption of iron ore. Imports are likely to stay at similar levels in December."

A large number of of industrial facilities, including steel mills, were forced to shut down around the capital Beijing ahead of a meeting of global leaders in November.

Spot iron-ore prices fell 11% in November and have lost 47% so far this year in an oversupplied market.

Australian shipments of iron ore to China from Port Hedland, which handles about a fifth of the world's seaborne trade, fell 8.5% in November to 29.0-million tonnes from a near-record high in October.

Stockpiles at main ports fell 550 000 t to 102.61-million tonnes by last Friday from the previous week, data from Umetal.com showed. "

[Popeye82]

Has China reached peak graphite?, New data from Benchmark Mineral Intelligence shows China’s share of global natural graphite output in 2014 falls to mid-1990 levels - M.com/MBI - Dec 9, 2014

- Simon Moores -
www.mining.com/web/has-china-reached-peak-graphite/?utm_sour…

"Benchmark Mineral Intelligence can reveal that China’s share of global natural graphite output will fall by 15% this year to levels not seen since the mid-1990s when the country began exporting to international markets.

2014 will see output fall to 70% of the world's share from an all-time high of 85% in 2013.


This raises the major talking point of whether we have seen peak graphite from the world’s leading supplier.

This year has been notable for the Chinese graphite industry as it consolidates and modernises its flake operations and cuts output of its amorphous graphite.

Both forms of natural graphite contributed to significant output levels in the past of as high as 800,000 tonnes a year. But this figure has now fallen by at least 40% as the country recalibrates its domestic steel industry, modernises its mining operations and focuses its future on higher value manufacturing.

As a result of these trends which are backed by the new data, Benchmark Mineral Intelligence believes we have likely seen peak graphite supply in China.

However, the industry can expect the receding of supply to be a steady process which cuts output levels to between 50-60% of global production over the next 3-5 years.

This means China will continue to be the world’s number one supplier of all natural graphite products in the long term. The country will try and replace raw material exports with that of value added products including coated, battery anode materials and graphene.

Existing demand from steel is expected to continue with low growth rates of 1-3% a year, therefore the industry will look to the battery sector for the bulk of new demand which Benchmark expects to be anything from 5 to 10 times the growth seen in refractories.

And with three megafactories slated to come on-stream in the next three years, the question is will the natural graphite industry be able supply these new projects or will buyers will have to turn to its synthetic counterpart?

It also raises the point of where new supply will come from to satisfy existing growing markets let alone the emergence of a potentially huge market in batteries.

Regardless what the future holds, one thing is clear in the present: the days of low cost, abundant graphite from China are over.



- (Note: Chart is for diagrammatic purposes only. Free to use with credit). -


> Connect on Linked In here

> For free breaking news from Benchmark go to:
www.twitter.com/BenchmarkMin
www.twitter.com/sdmoores "

[Popeye82]

Chinese rare earth giant born, Owner of Bayan Obo mine Baotou Steel acquires five rare earth refiners with 73,500 tonnes capacity forming industry dominant China North Rare Earth Group - M.com - Dec 16, 2014

- F. Els -
www.metal.com/newscontent/67914_baotou-steel-rare-earth-to-m…
www.mining.com/chinese-rare-earth-giant-born-62354/?utm_sour…

"

- The giant mine in Bayan Obo, Inner Mongolia near Baotou City, produces the bulk of the world's rare earths and does so as a byproduct of iron ore mining. | Source: NASA -


China’s leading rare earth producer – Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co. to give its full name – is set to further tighten its grip on the industry.

Baotou's giant mine in Bayan Obo, Inner Mongolia near Baotou City, produces the bulk of the world's rare earths and does so as a byproduct of iron ore mining.

SMM reports Baotou will merge with five smaller rare earth firms to establish the China North Rare Earth Group Co.

Baotou will acquire shareholdings in Baotou Feida Rare Earth Co., Baotou Jinmeng Rare Earth Co., Baotou Hongtianyu Rare Earth Magnets Co., Wuyuan Runze Rare Earth Co., and Xinyuan Rare Earth Hi-Tech & New Material Co.

The five rare earth separation and refining businesses have a combined rare earth processing capacity of 73,500 tonnes per year.

That compares to Molycorp's Mountain Pass mine in California which is targeting production of 20,000 tonnes but may not even reach half that this year. Across Molycorp's (NYSE:MCP) mining, refining and alloys business sales came in at 3,356 tonnes during the third quarter. The only other producer outside China, Australia's Lynas is expected to meet its 11,000 tonnes per year production target from its Malaysian plant during the fourth quarter.

In order to crack down on illegal mining, pollution and modernize the country's mostly low-tech industry Beijing is consolidating the industry under six large organizations including Baotou, China Minmetals Corporation, Aluminum Corporation of China (Chinalco), Guangdong Rare Earth Group, Xiamen Tungsten and Ganzhou Rare Earth Group with each group assimilating dozens of small miners, recyclers and processors.

China is responsible for roughly 90% of mined output of rare earths and is also the top user. The country's downstream industry consumes 70% of global production which is expected to grow 9% to 127,000 tonnes this year according to official estimates.

The consolidation of China's rare earth industry will further increase the prevalence of captive supply.

In China purchasers of raw material that produce downstream rare earths products like powders and magnetic alloys are eligible for a 16% VAT rebate.

That's one of the reasons Chinese producers like Baotou and Chinalco have invested heavily in downstream facilities (thanks to its three Chinese plants, Molycorp also happens to be one of the companies benefiting from the rebate).

This image was taken by the Advanced Spaceborne Thermal Emission and Reflection Radiometer (ASTER) on board the NASA research satellite Terra. The image covers an area of 15 × 19 km. "

[Popeye82]

China lowers coal export levies to boost ailing economy, The country will cut export tariffs for coal from Jan. 1 as part of broader efforts to drive economic growth, move, which aims to spur domestic demand and promote industrial upgrading, comes after relentless lobbying by the China National Coal Association, as a sharp drop in the commodity price has left about 70% of the country's miners in the red - M.com - Dec 16, 2014
http://gss.mof.gov.cn/zhengwuxinxi/zhengcefabu/201412/t20141…
www.mining.com/china-lowers-coal-export-levies-to-boost-aili…
www.reuters.com/article/2014/12/16/china-economy-tax-idUSL3N…

"

- Coal bulker terminal at the port of Qinhuangdao. (Copyright Greenpeace | Liu Feiyue) -


China, the world’s biggest coal consumer, is cutting export tariffs for the fossil fuel beginning Jan. 1 and it will also correct those for a range of other commodities particularly some consumer products and parts to make high-tech devices.

The move, which aims to spur domestic demand and promote industrial upgrading, comes after relentless lobbying by the China National Coal Association, as a sharp drop in the commodity price has left about 70% of the country's miners in the red and more than 50% to owe wages, Reuters reports.

Other items that will see lower tariffs next year include camera lenses and lasers for fiber-optic communication systems, the Ministry of Finance said in a statement on its website Tuesday.

Last month the Asian giant signed a free trade agreement with Australia that eliminates a 6% import tariff on power-station coal and a 3% levy on steelmaking coal coming from Down Under.

China's dependence on coal is well known. Annual consumption exceeded 1 billion short tons per year in 1988 and has exploded since then, to about 4 billion tons last year. This means the Asian giant gets about 70% of its energy from the fossil fuel, a number the government hopes to reduce to 65% by 2017.

In the past three years Australia’s coal industry has experienced challenging times with prices for thermal coal, which consumed by power stations to generate electricity, dropping over 40%. More than 30,000 mining jobs have been lost in Australia this year amid a slump in the price of key commodities like coal and iron ore. "

[Popeye82]

India joins iron ore output surge, State-owned iron ore miner NMDC to triple production to 100,000,000 tonnes/year by the end of the decade
www.hellenicshippingnews.com/india-to-increase-annual-iron-o…
www.mining.com/india-joins-iron-ore-output-surge-18424/?utm_…

"China already consumes more than two-thirds of the 1.2 billion seaborne trade, a proportion that continues to rise.

The price of iron ore, down nearly 50% this year, slid to a fresh 2009 low on Wednesday after worries about Chinese demand added to already negative sentiment on the back of a supply surge.

Top producer Vale plans to boost Brazilian output to 450 million tonnes by 2018 from 306 million last year while Rio Tinto is well on its way to reach 360 million tonnes in the next few years. BHP Billiton' is on target to grow capacity to 290 million tonnes per year by mid-2017.

Now another source of cheap ore could enter the market.



- Those piles will be getting higher -


India's steel ministry today said that state owned mining company National Mineral Development Corp will raise output to over 75 million tonnes per annum by the 2018-2019 financial year. The target for 2020-2021 is more than 100 million tonnes per year.

That's up from only 30 million in the current year. The production surge is required to push the sub-continent's steel production rate to a long term target of 300 million tonnes by 2025.

That would require production of 500 million tonnes of iron ore annually.

While the increased output is designed to boost India's domestic development, it may have knock on effects on the export market.

After all, a decade ago the emerging Karnataka-Goa trade with China laid the foundation for today's market in iron ore.

At the time ore went for less than $20 a tonne with the annual price – known as 'the benchmark' – set during secret negotiations between Brazilian and Australian miners and Japanese steelmakers.

But with steel output growing by a staggering 23% per year, Chinese buyers desperate for ore were forced to chase tonnage on the sidelines of the global trade.

India's swing suppliers quickly stepped into the breach.

From 42mtpa in 2003 India's exports peaked at 120mtpa six years later. Only to collapse amid a government corruption and environmental crackdown a year later, turning India into a net importer.

The demise of Indian supply made China increasingly beholden to the big a relationship that's testy at the best of times.

As smaller, high cost producers outside China fall by the wayside the Big 3 is set to control more than 85% of the seaborne trade by the end of the decade.

China may be keen to diversify its supply sources again. "

[Popeye82]

Antwort auf Beitrag Nr.: 48.601.211 von Popeye82 am 18.12.14 07:36:26

Iron ore hits new low after weakest China imports in 16 years, Benchmark iron ore price drops to fresh five-&-a-half-year low after November Chinese imports fall for the 1st time since 1998
www.bloomberg.com/news/2014-12-17/china-demand-drop-pushes-i…
www.mining.com/new-iron-ore-price-low-after-weakest-china-im…

"


The iron ore price reached a fresh five-and-half-year low on Wednesday after surprisingly weak imports by top consumer China.

The CFR 62% Fe 2% Al benchmark import price at the port of Qingdao tracked by The SteelIndex declined 20c to $69.10 a tonne, the lowest since June 1, 2009.

The price of the steelmaking raw material is down just under 50% since the start of the year.

Fears of a deteriorating outlook for China, buyer of nearly 70% of the world's seaborne cargoes, intensified after customs data showed a 15% plunge in November iron ore imports to 67.4 million tonnes.

Year-on-year the decline was 13.4% and it was the first first November decline in the country's imports of the steelmaking raw material since 1998. The only other time November imports fell since records began was in 1996, according to Bloomberg.

Another indication of declining demand was evidenced by shipping rates for iron ore carriers, which fell to the lowest level since January 2009.

The once obscure Baltic Dry Shipping Index came to prominence at the start of the Chinese-led commodity supercycle around a decade ago.

The London-based Baltic Exchange tracks the cost of moving commodities along more than 50 routes around the world and the index is down 63% year to date.

Iron ore represents over 20% of the global dry bulk trade and freight rates for so-called Capesize ships which are the dominant vessels for the world's 1.3 billion tonnes seaborne iron ore trade, fell to $5,394 a day on Wednesday.

Capesize vessels can haul roughly 160,000–180,000 tonnes and daily rates topped out at an eye-watering $234,000 per day in June 2008. "

[Popeye82]

Lower oil prices could cost Canada dearly, An unprecedented 40% dive in crude oil prices in the last four months would impact the Canadian economy muuuuuch more severely that preeeviously thought, a recent study by analysts @Canadian Imperial Bank of Commerce(CIBC) had found. In their report ‘No barrel of fun: What weaker crude means for Canada’ that was released on Tuesday, the economists estimated that the price decline would reduce Canada’s gross domestic product(GDP) growth in '15 to ~2.2%, rather than the 2.7% previously predicted - MW/CIBC/R, TORONTO - Dec 17, 2014

- H. Lazenby -
www.miningweekly.com/article/lower-oil-prices-could-cost-can…

"


An unprecedented 40% dive in crude oil prices in the last four months would impact the Canadian economy much more severely that previously thought, a recent study by analysts at Canadian Imperial Bank of Commerce (CIBC) had found.

In their report ‘No barrel of fun: What weaker crude means for Canada’ that was released on Tuesday, the economists estimated that the price decline would reduce Canada’s gross domestic product (GDP) growth in 2015 to about 2.2%, rather than the 2.7% previously predicted.


The CIBC model doubled the impact to the country’s real GDP to about 0.5%, up from 0.25% estimated by the Bank of Canada. However, the impact on the nominal GDP and net national income could be as much as 2%.

West Texas Intermediate oil was on Wednesday trading at $55.81/bbl for January contracts, and Brent crude oil was changing hands at $60.28/bbl for delivery in February.

The analysts said that even if improved global demand and some paring of excess supply restored substantially higher prices in the second half of next year, WTI oil might still average only $70/bbl in 2015, the base case scenario used in the analysis.

The report said that the US economy was accelerating and would benefit from cheaper crude. Growth disappointments overseas were also believed to only be a modest part of the story of oil’s price decline.

The analysts fingered the Organisation of the Petroleum Exporting Countries (OPEC’s) decision not to trim excess output in November and soaring North American, particularly US output, as the reasons for the supply shock, as opposed to supply routs in previous price corrections.

The low-price impact was nearing the magnitudes of previous price corrections, impacting the country more significantly owing to its increased reliance on energy exports.

“… Canada was not nearly the net oil exporter it is today during either the supply-side price correction of the 1980s, or the next decade’s Asian crisis-inspired jolt, making it much more exposed now to oil’s story,” the economists said.

The energy sector directly accounted for nearly 10% of Canada’s GDP, but the impact on the Canada’s most prolific oil-producing provinces – Alberta, Newfoundland & Labrador and Saskatchewan – would be much more pronounced, as they relied on oil for as much as 25% to 30% of the local economical output.

While things were not expected to get as ugly as in 2009, when oil slid 40% year-over-year, CIBC said the decline in energy prices seemed to be sufficiently large to tip once-robust nominal GDP growth into negative territory for Canada’s three oil-rich provinces.

On the positive side, CIBC said that the combination of a stronger US economy, cheaper energy process, a depreciating currency and still-low interest rates was a favourable mix for the country’s factory-intensive provinces, and the bank touted Ontario as being the provincial GDP-growth leader next year.

The analysts calculated that even if oil managed to average $70/bbl next year, the federal government would lose out on about $10-billion to $13-billion in revenue, with Ottawa’s share in the loss estimated at about $5-billion.

CIBC said the lower crude prices were a net benefit to the US, and a net hit to Canada, prompting analysts to believe that the Bank of Canada would push back the earliest date to increase interest rates to the fourth quarter next year, a quarter later than previously expected.

The analysts also lowered by about 5% their estimate of where the loonie would bottom against the greenback, setting C$0.81 as a possible trough.

“The bottom line is that references to a few decimal places in real GDP miss the point. The value of what Canada sells to the world, not just the volumes, is what filters into wages and profits, government revenues, and economic well being.

“Today’s concerning energy price backdrop won’t last, as the world will ultimately need oil from Canada, Brazil offshore, and even costlier sources, suggesting a return to something north of $80/bbl in the years ahead,” the analysts said, warning that behind that national picture, there were regional and sectoral stories that would play out for at least a year if not longer, raising the stakes for policy makers and investors who had grown accustomed to good news from the oil patch. "

[Popeye82]

hat möglicherweise etwas mit Angebot/Nachfrage zu tun

Canada approves world's largest copper-gold project, $9,500,000,000 KSM project in British Columbia boasts reserves of 38,000,000 ounces of gold +~10,000,000,000 pounds of copper –mining 130,000 tonnes a day for 52 years
www.mining.com/canada-approves-worlds-largest-copper-gold-pr…

"Canada's minister of the environment on Friday gave the green light to Seabridge Gold's KSM project in British Columbia, the world's largest undeveloped gold-copper project by reserves.

The joint harmonized federal and provincial environmental assessment process took nearly seven-years and KSM is only the second metal mine in five years to receive approval by Canada and BC.



- KSM Mitchell deposit looking Southeast -


Since 2006, Seabridge has spent more than $176 million in exploration, engineering and environmental work to bring the project this far.

Seabridge Gold plans combined open-pit and underground gold copper silver and molydenum mine in the Kerr, Sulphurets, and Mitchell Creek watersheds located approximately 65 kilometres northwest of Stewart, BC and roughly 35 km northeast of the Alaska border.

The deposit boasts 38.2 million ounces of gold, 9.9 billion pounds of copper, 191 million ounces of silver and 213 million pounds of molybdenum provable and probable reserves.

The mine is expected to process 130,000 tonnes per day of ore over an anticipated mine life of 52 years.

KSM forecasts 1,800 direct and 4,770 indirect jobs across Canada during the five-year construction period and 1,040 direct jobs annually while in production.

During construction, Seabridge will spend $3.5 billion in British Columbia and $6 billion in Canada. Over the life of the mine’s operations, more than $400 million in GDP will be produced for British Columbia and more than $42 billion for Canada.

Seabridge Gold holds a 100% interest in several North American gold resource projects with its Courageous Lake gold project located in the Northwest Territories its principal asset outside KSM. "

[Popeye82]

es gab wohl einige Parteien die verlautbaren lassen haben da(nn) Ihre Förderung zu "überdenken", müssen
icht nur Barrick Gold
auch First Quantum Minerals, und andere
werden bestimmt, wenn, lustige Verhandlungen

Zambia royalty hike to force mine closures –chamber, Reuters Zambia's decision to hike royalty rates on open pit mining from 6% to 20% will lead to shaft closures +12 000 job losses, the chamber of mines said on Friday. Barrick Gold said on Thursday it would suspend operations @its Lumwana Copper Mine after royalty increases ere passed into law in the '15 budget. Lumwana produced ~118 000 t of copper in '13
www.miningweekly.com/article/zambia-royalty-hike-to-force-mi…

"


Zambia's decision to hike royalty rates on open pit mining from 6% to 20% will lead to shaft closures and 12 000 job losses, the chamber of mines said on Friday.

Barrick Gold said on Thursday it would suspend operations at its Lumwana Copper Mine after royalty increases were passed into law in the 2015 budget. Lumwana produced around 118 000 t of copper in 2013.


The International Monetary Fund (IMF) estimates that economic growth in Africa's second largest copper producer will dip to 5.5% in 2014, from around 6.5% last year, partly due to mining outages.

Mining accounts for 12% of gross domestic product (GDP) and 10% of formal employment in the country.

"The imminent implementation of the 2015 budget measures may make a number of other operations economically unviable, potentially leading to more mine closures," said the chamber, which represents mining companies operating in Zambia.

The suspension of Barrick's Lumwana operation is also expected hit output at three copper smelters which depend on metals from the mine, the chamber said.

It estimates that the tax hike would next year result in total production losses of 158 000 t of copper, the loss of 12 000 jobs and cost the government $1-billion in lost earnings.

Mines minister Christopher Yaluma said the government would not change the law because the level of royalties the mines were currently paying was too low.

"We are not getting sufficient proceeds from our mineral resource and we felt we would only be able to do so by hiking the royalties to the current levels," Yaluma told Reuters.

"They are crying that this is too much but too much is a relative term," he said.

Mopani Copper Mines, owned by Glencore, and Canadian firm First Quantum Minerals both have big copper projects that could now be at risk, the chamber said.

Other mining companies operating in Zambia include Vedanta Resources and Vale. "

[Keilfleckbarbe]

Antwort auf Beitrag Nr.: 48.621.482 von Popeye82 am 20.12.14 12:33:04

Hört sich gut an ! Das hätte man bereits vor Jahren den Abzockerstaaten deutlich kommunizieren müssen ! Wenn ihr die Steuern erhöht, dann schmeissen wir eure Leute raus oder machen unsere Minen dicht. Bringt ja nichts, wenn unterm Strich für den Miner im besten Fall eine rote Null steht...

[Popeye82]

Japan Okays Two More Nuclear Reactors - U3O8.biz - Dec 23, 2014

- Nick Wells -
www.u3o8.biz/s/MarketCommentary.asp?ReportID=688948&_Type=Ma…

"Japan has greenlit the opening of two reactors for the Takahama project, which is owned by Kansai Electric Power Company (TSE:9503). That brings the number of approved reactors to four, just after a general election win showed steady support for the pro-nuclear ruling Liberal Democratic Party.


The new reactors will join the Sendai reactors, which were approved in early November after a local vote by the city of Satsumasendai supported their restart. The Sendai reactors aren't expected to open until early 2015.

Cantor Fitzgerald forecasts that 32 reactors will ultimately be restarted, with nine in 2015, 10 in 2016, 12 in 2017 and one in 2018.

In a note to investors, Rob Chang talked of the reactor restarts being viewed "as a key market catalyst as some investors remain sceptical on whether it will actually occur."

David Talbot, with Dundee Capital Markets, largely echoed those thoughts.

"Dundee's opinion is that these two reactors are part of the 'friendly thirteen' reactors that will likely gain local approval based on local support --- of the 19 or so that are currently under application for start-up," he said in a comment to investors.

The reactors will require a month-long consultation process, with both the local and municipal governments needing to give their approval.

Uranium is currently trading at $37 a pound. "

[Popeye82]

Antwort auf Beitrag Nr.: 48.601.250 von Popeye82 am 18.12.14 07:47:19

Australia cuts iron price forecast 33%, on 'structural change', The severity of the slide in iron ore prices appears to have caught even the top exporting country's Department of Industry by surprise - M.com - Dec 23, 2014

- F. Els -
www.mining.com/australia-cuts-iron-price-forecast-33-on-stru…

"The iron ore price fell back to five-and-half-year lows on Monday as weak demand from top consumer China and a surge in supply continue to weigh on the industry.


The CFR 62% Fe 2% Al benchmark import price at the port of Qingdao tracked by The SteelIndex declined $1.50 to $69.20 a tonne, the lowest since June 1, 2009, proving Friday's jump to above $70 was merely a blip on the long-term downtrend.

The price of the steelmaking raw material is down just under 50% since the start of the year.

According to the latest quarterly report from Australia's Department of Industry more pain is to come.

The official forecaster of the world's top exporting country cut its price estimate for 2015 by a third: iron ore prices would average $63 a tonne which compares with $94 a tonne forecast in September and $88 a tonne average this year.

The price used by the Bureau of Resources and Energy Economics is free-on-board Australia so for comparison add between $7 – $12 for the Chinese freight and insurance included price.

The research points to a structural shift has taken place in the trade of the steelmaking raw material, the top global commodity trade after crude oil at an estimated 1.39 billion tonnes a year:

"Since the move to spot pricing in 2009 seasonal price swings have been a regular feature in iron ore markets; however, 2014 has been characterised by a prolonged price decline without the seasonal rebounds seen in previous pricing cycles.

"This change in the pattern of prices is likely evidence of a structural change in the iron ore market.

"The recent surge in iron ore availability has reduced the supply risk steel mills in Asia previously faced and, subsequently, buyers are no longer stocking up ahead of periods usually affected by seasonal factors. As a result prices have not rebounded for any significant period of time in 2014." "

[Popeye82]

Dollar, oil wallop gold price, Gold price weakens sharply into holiday season as gold-oil ratio hits highest since February 2009
www.mining.com/gold-price-76171/?utm_source=digest-en-mining…

"


Gold suffered a sharp retreat on Monday after a fresh slide in the price of oil and jump in the value of the US dollar to nearly nine-year highs.

In late afternoon trade on the Comex division of the New York Mercantile Exchange gold for February delivery was changing hands for $1,171.00 an ounce, down $25.00 or 2.1% from Friday's close and at the lows for the day.

The US dollar enjoyed another solid day on Monday advancing to its highest level against the currencies of America's major trading partners since January 31, 2006. The greenback has strengthened 11% in 2014 against a basket of currencies, with almost all the gains coming since August.

Gold and the dollar usually move in opposite directions.

After gains earlier in the day in after hours trade crude oil slipped again with the US benchmark West Texas Intermediate dipping to $55.30 a barrel, a loss of more than 3% after top producer Saudi Arabia said it may increase production.

Gold and oil usually rise and fall in tandem – rising oil prices pushes up inflation increasing demand for gold as a hedge.

Since 1970 the average ratio – how many barrels of oil can be bought with one ounce of gold – is 15.

After trading between 12 and 13 for more than a year, the ratio has now shot up to more than 21 which suggests that gold is overvalued compared to oil.

The ratio last climbed above 20 in February 2009, when gold was trading around $1,400 an ounce.

When gold hit a peak above $1,900 in September 2011, the ratio topped out at 20.5 before dropping all the way down to 15 before the end of that year.

In the months before the Lehman brother collapse of September 2008, an ounce of gold bought fewer than seven barrels of oil.

Another factor that adds pressure to the gold price is a fresh climb in US equities with the Dow Jones enjoying triple digit gains on Monday and the broader S&P500 index closing in on yet another all-time high.

"

[Popeye82]

Shenhua Energy, Sumitomo +Energy Resources to develop Tavan Tolgoi, in Mongolia - MT - Dec 23, 2014
www.mining-technology.com/news/newsshenhua-energy-sumitomo-a…

"A Consortium of China's Shenhua Energy, Japan's Sumitomo and Mongolia's Energy Resources has won the tender to develop the Tavan Tolgoi deposit in Mongolia.

The consortium is said to have beat a bid from US-based mining company Peabody Energy.


Mongolia's Government will retain full ownership of the mine, which is claimed to be one of the world's largest untapped coking and thermal coal deposits situated in the Ömnögovi Province.

The latest bid winner will have to produce 30 million tonnes of coal annually at Tavan Tolgoi and deliver into at least two export markets.

Ulaanbaatar-based Mongolian Mining's unit Energy Resources already mines coal at another site in the Tavan Tolgoi coal basin.

Recently, in an effort to boost a flagging economy hit by falling commodity prices, Mongolia has relaunched an international tender to develop the project.

The attempt is said to have attracted Mongolia Mining, Peabody Energy and Japan's Itochu.

Located around 240km north of the Chinese border, Tavan Tolgoi has 7.4 billion tonnes of coal reserves.

The mine is divided into six sections: Tsankhi, Ukhaa Khudag, Bor tolgoi, Borteeg and south-west and eastern coalfields.

It is considered to be crucial to the efforts of Mongolia to convert its mineral wealth into economic gains. "

[Popeye82]

ich denke ja eher dass die Zahlen -noch ein- bisschen dramatischer sind, was das "underwater, based on all in cost" angeht
40% -der Goldfirmen- die keine Verluste machen sind wahrscheinlich, selbst, jetzt schon nicht, mehr, gegeben(exklusive Abschreibungen mag das, dann, vielleicht hinkommen -aber selbst das bezweifele ich eher)

CHART: $1,200 gold price the new normal?, A decline towards the $1,100 mark turns 60% of the industry into loss makers, on an all-in basis
www.mining.com/chart-1200-gold-price-the-new-normal-27513/?u…

"

- Lion Chrome Smelter in South Africa. Source: Glencore -


After closing 2013 at $1,205 an ounce the price of gold jumped out of the starting gate, rising consistently to reach a high of $1,380 in March.

But the metal failed to consolidate gains during the summer doldrums, falling to a near four-year low November 6 at $1,143.

The recovery from there was swift and gold is heading into the final week of 2014 basically where it started the year.

Gold 2014's highs and lows were 20% or $237 apart, making it the quietest year since 2008. Last year it was 40% or $488 – gold's most volatile 12 months since crazy 1980.

Gold miners' problems are only exacerbated by falling by-product credits

The subdued trading in gold came despite potential market shocks including the slide in oil, the rampant dollar and a variety of geopolitical shocks during 2014.

The gold price is the most sentiment-driven of all commodities, but fundamentals still do matter.

And cost of supply may now be providing that elusive price floor gold bulls have been looking for since 2011's record high above $1,900.

As this chart by metals consultancy GFMS and Thomson Reuters shows towards the $1,100 mark, 60% of the industry would be loss-making on an all-in basis.

Gold miners' problems are only exacerbated say the authors by falling by-product credits, such as silver and copper which are down roughly one third and 10% respectively from the 2013 average.

Average costs in the industry sits around $1,200 and is falling as miners shelve projects, reduce exploration expenditure, defer or cut back on sustaining capital and a strong dollar helps to contain costs outside the US.

While the price may well fall to $1,100 in the year ahead, multiple quarters of prices at these levels would force loss-making miners out of business and reduce supply, helping prices to recover.

"

[Popeye82]

Copper price touches 63-month low
www.mining.com/copper-price-touches-63-month-low-22702/
https://brokers.intlfcstone.com/Research/Document/DocumentVi…

"

- Glencore employee Anibal Contreras clears slag at the Altonorte metallurgical facility, north Chile. Source: Glencore -


In early New York trade on Friday copper for delivery in March fell to an intra-day low of $2.738 per pound, touching levels last seen end-September 2009, after inflation data out of China renewed fears of a worsening economic outlook for the world's top consumer of the metal.

China consumes almost half the world's annual copper output and a worse than expected 3.3% drop in factory gate prices in December was interpreted as further evidence of inactivity in the country's real economy. While consumer prices showed a small uptick, producer prices in China have now fallen for 34 months in a row.


Given its widespread use in transportation, manufacturing and construction the copper price is sensitive to any economic slowdown. China's GDP growth is expected to slow to 7% in 2015, which would be the slowest pace since 1990.

The bad PPI numbers were blamed on excess manufacturing capacity, particularly in China's heavy industries, a major factor in the 18% slide in the price of copper over the past year and the nearly 50% drop in iron ore.

The copper price has also come under pressure this week after Chinese authorities approved an export tax rebate of 9% for copper bars, rods and profiles, while increasing the rebate for foils to 17% from 13% to stimulate exports.

In a research note, Edward Meir, analyst at INTL FC Stone, says it points to uncertainty about domestic Chinese demand:


"Reuters cites Antaike as saying that the new rebate could push up exports of these products to a rather significant 100,000 tons a year. More importantly, it tells us that the government wants local industry to turn to exports if domestic offtake is not enough to sop up local metal."


The supply side picture isn't helping either. Forecast mine output growth through the year of 6% or 1 million tonnes and another 800kt in 2016 is a lot to absorb for the market and is the reason why most forecasts for the price in 2015 is below today's levels.

Falling oil, the top input costs for all miners bar those lucky enough to sit on copper oxide, could also have the perverse effect of keeping high-cost mines in the game for longer, further depressing prices.

That said, unlike iron ore where predicted oversupply this year is estimated as high as 175 million tonnes in a 1.3 billion tonne market, the copper industry is much more prone to disruptions.

Aside from the more typical disruptions associated with adverse weather, technical problems, power shortages or labour activity, copper miners are also dealing with generally higher costs due to falling grades requiring higher tonnage and rising impurity levels. The depressed price will also force companies to make tough decisions on any expansion or greenfield projects.


Image supplied by Glencore show Anibal Contreras clearing slag at the company's Altonorte metallurgical facility, northern Chile. "

[Popeye82]

Will 'This Little-Discussed Restart Worsen the Iron Glut?'
http://piercepoints.com/?p=1404

"Two months of project work winding up--now back in the saddle at home.

One critical event stands out this month--in the global iron ore sector. Where further problems may be looming on the supply front.

That's because of events this week in one of the world's premier producing nations. India--a place that the market has largely forgotten about, but which could become a major dark horse affecting worldwide prices.

Officials from India's Goa state said this week that iron ore mines here are very close to restarting. With individual mines potentially reopening as early as March.


That's a critical development. As recently as 2011, Goa was India's top exporting region for iron ore. But mines here were idled in 2012, when government officials uncovered widespread evidence of miners operating without permits. Officials also found numerous cases where mines were infringing on the local environment and populations.

Since then, Goa's iron ore output has been reduced to near zero. But it appears the problems have now largely been addressed--paving the way for mines here to reopen.

Last Thursday, the Goa state government officially revoked its 2012 ban on mining. With officials saying that mining companies will now be allowed to restart operations once they have the proper operating permits in place.

The government stated that mining could resume as early as several weeks out. Although local operators such as Sesa Sterlite have said they may be ready to start mining within two weeks.

If we do see a widespread resumption of mining, the implications for global iron ore supply are significant. At its peak prior to the mining ban, Goa was exporting some 50 million tonnes of iron ore yearly--equivalent to about 5% of worldwide export supply.

That would be a lot of material returning to the market. At a time when prices have already slid more than 50% over the last two years--to current levels below $70/tonne.

Watch for news on individual mine restarts here, and resulting figures on just how much supply we can expect out of India--and when it will arrive.

Here's to being back,
Dave Forest "

[Popeye82]

The 'World's Largest Reserve Of This Metal Just Opened Up'
http://piercepoints.com/lithium-mining/

"Big changes afoot in one country’s mining sector this week. A place that’s notable for holding one of the world’s largest endowments of a leading specialty metal.

The place is Chile. Where regulators said Tuesday they are considering opening up the lithium sector for outside investment.

Chile’s National Lithium Commission said that it is studying the possibility of public-private partnerships to develop lithium deposits in the country. Where the government would retain an ownership stake in projects, while allowing incoming investors to buy up a share of mineral rights.


That would be a significant departure from current policy. Where concessions for lithium are prohibited by constitutional decree.

Instead, the government has been trying to develop its lithium resources through “resource rent” contracts. Where private firms are granted the right to explore, develop and produce lithium, but do not actually own the mineral reserves they discover.

With that scheme having proven ineffective in moving projects forward, it appears the government is now looking at more conventional arrangements for mining. And that could be a major opportunity.

That’s because Chile is host to the world’s largest identified reserves of lithium. With the nation’s 7.5 million tonnes of in-ground lithium metal being more than double that of the next-largest holder, China.

Chile was also the world’s largest producer of lithium in 2013. Putting out nearly 40% of total world supply.

That scale has in the past attracted attention from some big players. In 2012, for example, Chilean fertilizer giant SQM attempted to develop projects here–but was rebuffed by the complex legal framework surrounding lithium.

With that hurdle now gone, the door may be opened to the mining of these world-leading deposits. Made all the more attractive by the fact that Chile hosts mainly brine-type lithium deposits–which are much more cheap and easy to develop than the hard-rock lithium being produced in other major centres like Australia.

Watch for further announcements on the details of Chile’s public-private investment system for this sector.

Here’s to making it work,

Dave Forest "

[Popeye82]

Is 'This New Law Another Supply Threat, For Platinum?'
http://piercepoints.com/platinum-zimbabwe-mining/

"Some of the world's largest platinum miners got an unpleasant surprise last week. When one of the world's largest producing nations introduced some unexpected legislation for the sector.

The place is Zimbabwe. Which said that it may impose a significant new tax on platinum exports coming out of the country.

A new finance bill introduced by the Zimbabwe government includes details on the tax. Stating that exports of unrefined platinum will be subject to a 15% duty.

Such a move had been previously proposed by the government as early as 2013. But officials had backed off the tax--stating that it would not come into effect until at least 2017.

The inclusion of the measure in the new finance bill thus came as a complete surprise. Even more so given that the bill provides no lead-up period before the imposition of the tax--with the bill proposing the 15% payments will be effective as of January 1, 2015.

The stated goal of the tax is to encourage in-country upgrading of platinum ores. But such refining would require large capital investments--and may not even be possible given the signifiant infrastructure and power challenges in Zimbabwe.

The result, at least initially, would likely be a greater financial burden for mining firms. Coming at a time when platinum prices have fallen to five-year lows, near $1,200 per ounce. This could be enough to push some mining operations into the red. Potentially causing shutdowns and impacting supply.

That would be a key development for the platinum market. Given that Zimbabwe is the world's third-largest platinum producer--accounting for 7% of global supply in 2014. It also comes at a time when number-one producer South Africa is struggling--with production having fallen 16%, or 675,000 ounces, last year.

Miners in Zimbabwe said they are seeking clarity from the government on what exactly the new finance bill means. Watch for news from these firms or the government, on what the impacts will be.

Here's to a scarce resource,
Dave Forest


[e-mail] "

[Popeye82]

This 'New Project Changes The Global Oil Market'
http://piercepoints.com/oil-pipeline-myanmar-china/

"We saw one of the most significant shifts in a long while for energy markets last week. With a key pipeline opening that will radically change global flows of crude oil.

The project in question is the China-Myanmar oil pipeline. Which Chinese state media said on Thursday has now opened for test runs.


The pipeline is one of the most ambitious constructions the global energy sector has seen. Running 771 kilometres from Myanmar's western coastal port of Kyaukphyu, across the entire length of that country, and into the Chinese city of Kunming. The diagram below from Stratfor shows the route.




The line has been an ongoing project for years now. With construction having begun in 2010, and been completed in May 2014. A twin natural gas pipeline that's also part of the development was put into operation last year.

The size of the pipeline is notable. But its location is even more significant when it comes to the worldwide movement of oil.

Because the pipe provides the first overland access between China and shipments of crude sailing from the Middle East.

Up until now, Middle East tankers were forced to sail through the Straits of Malacca between Indonesia and Malaysia in order to reach Asian buyers. A route that's noted to be treacherous, and which adds almost two weeks to the journey for an average Saudi Arabia-to-Shanghai shipment.

Such crude can now be offloaded on the Myanmar coast and sent straight into the heart of China. Giving buyers here a major cost saving--and giving China a huge leg up over other Asian consumers like Japan and Korea when it comes to securing supply.

The capacity on the new line is significant--able to move 160 million barrels yearly, or about 440,000 barrels per day. Equivalent to just under 0.5% of total global oil demand.

That might just be enough to change prices for some crude blends. Watch for increasing competition amongst other Asian oil buyers, and increased shipments coming into this region from suppliers outside the Middle East.

Here's to strategic assets,
Dave Forest

[e-mail] "

[Popeye82]

Gold Demand "Just Jumped 50% In This 'Key Nation' "
http://piercepoints.com/gold-demand-jumped-india/

"There hasn’t been a lot of good news about gold demand of late. But one critical consuming nation is now bucking the downtrend–according to insider reports this week.

The place is India. Where government officials said that bullion imports are surging.


Bloomberg quoted unnamed officials as saying that India’s gold imports stand at 940 tonnes for the 10 months from April 2014 to January 2015.

That’s a significant rise. Considering that imports for the entire fiscal year previous (April 2013 to March 2014) amounted to just 662 tonnes.

All told, the sources said they expect India’s gold shipments to come in around 1,000 tonnes for the fiscal year ending March 31. Which would represent a rise of over 50% from last year’s levels.

As I’ve discussed before, the big driver behind the jump has been relaxation of import rules around gold. With India’s government allowing a broader range of firms to bring in bullion during 2014. And dropping rules that had previously required these importers to re-export some of their supply.

The numbers show these measures are having a notable effect. And recent events suggest this trend in motion could well continue.

That’s because the biggest driver behind the gold import curbs was India’s rising current account deficit. With government officials trying to reduce the trade gap by forcing consumers to spend less on foreign gold.

But the big drop in oil prices recently has done more in curing the current account deficit than gold curbs ever could. Meaning that the pressure is now off India’s government to keep out bullion shipments.

That could signal a wholesale return of this major consumer to the gold market. Watch for more data on imports here to confirm the pattern–and for knock-on effects on the gold price if this does indeed materialize.

Here’s to being back,

[e-mail] "

[Popeye82]

Mining companies in Ghana may sell gold mines, due to power shortage
www.mining-technology.com/news/newsmining-companies-in-ghana…

"A power crisis in Ghana is leading to long, daily electric cuts that could prompt mining companies to sell some of their gold mines.

Ghana Chamber of Mines CEO Sulemanu Koney told Reuters that the electricity blackouts will damage gold production levels if the situation persists for a long time.


Koney said that the chamber requested the government to lower taxes on diesel, which is used to fuel generators. The parties are also in discussions regarding concessions such as tax relief on diesel.
"Despite the decline in gold price energy crisis in the country, the government is working to make sure ensure that there are no job cuts."

The primary reason for the power shortage in Ghana is due to a shortfall in natural gas, declining levels of water at the hydroelectric dam, as well as unexpected maintenance at plants, the news agency reported.

Minister of Lands and Natural Resources Nii Osah Mills said, despite the decline in gold price energy crisis in the country, the government is working to make sure ensure that there are no job cuts.

Since the power problems started in Ghana, the mining sector has been trying to find ways to manage and avoid job losses.

In 2014, around 5,000 workers in Ghana's mining sector were laid-off due to the fall in world gold prices, as well as the energy crisis.

Due to the lack of power, mining companies were also forced to reduce their operations.

Claimed to be Africa's second-biggest gold producer, Ghana produced 107.9 million tonnes of gold in 2013. "

[Popeye82]

Antwort auf Beitrag Nr.: 48.957.095 von Popeye82 am 02.02.15 20:23:19

Is "This "Crisis Metal" 'Today's Best Resource Opportunity'?"
http://piercepoints.com/palladium-russia-southafrica-barclay…

"I talked earlier this week about potential supply problems in platinum for leading producer Zimbabwe. And new data this week suggest that an even-deeper crisis may be brewing for a related metal: palladium.

Platts reported yesterday that analysts from Barclays have just compiled some full-year numbers for palladium supply during 2014. And the picture is bleak.

Barclays notes that the availability of palladium globally took a big dive during the past year. Because of one critical factor: the world’s top-producing nation, Russia.


Data show that Russian palladium shipments into major trading hub Switzerland plummeted in 2014. Falling 64% to 184,000 ounces–down from over 517,000 ounces in 2013.

In other parts of the world, the pattern was similar. With Russian palladium shipments into China showing a 45% drop on the year, to just under 97,000 ounces.

The fall-off is almost certainly due to tightening sanctions against Russia. Perhaps combined with Russian unwillingness to part with this strategic resource amid the current uncertain political environment.

Whatever the reason, this is a major shift in the global palladium market. Russia is by far the largest producer here–having put out a full 43% of worldwide mined supply during 2014.

And there aren’t a lot of other suppliers to step up and fill the gap. In fact, the world’s only other major palladium producer is South Africa (32% of mine production in 2014), which has been seeing difficulties of its own of late in the mining sector.

Overall, Barclays sees the palladium sector as being in a significant shortfall. With analysts here estimating that the supply deficit during 2014 may have reached as much as 1.65 million ounces–one of the biggest supply shortages seen today in any metals market.

The bank expects that situation to continue in 2015. Forecasting a supply deficit of nearly 560,000 ounces this year.

This tightness created a good run in palladium prices during 2014–with the metal gaining as much as 28%, to over $900 per ounce. Those gains, however, have largely ebbed since September. Leaving the price at a current $790.

Watch for supply problems to potentially cause another run–which would be great news for producers in other parts of the world, like Canada and the U.S. It may also help spur exploration for new PGM deposits outside of traditional hotspots.

Here’s to seeking alternatives,

Dave Forest

[e-mail] "

[Popeye82]

'Two Desperate Moves In This Plunging Energy Sub-Sector'
http://piercepoints.com/two-desperate-moves-in-this-plunging…

"A couple of big moves in the North American liquefied natural gas (LNG) game last week. But is it too little, too late?

Interestingly, we saw big announcements on LNG coming out of both Canada and the U.S. at the same time. Starting with American legislators--who said they are trying to push through the development of gas export facilities here.

The U.S. House of Representatives passed a bill that would speed up permitting of new LNG export projects. Requiring the Department of Energy to make a decision on LNG export applications within 30 days of receiving such proposals.


Later in the week, LNG hopeful British Columbia followed suit. Unveiling a slate of incentives to help LNG projects in the province with costs and permitting.

The government said that it has allowed existing LNG export operations at Delta, B.C. to bypass the need for a "Certificate of Public Convenience and Necessity". A regulatory document that would normally be required for an expansion planned here by operators FortisBC.

The move greatly streamlines the permitting process for the expanded project. And the government is also moving to help such facilities procure the gas they need.

Officials said they have also reduced gas pipeline transmission tariffs for the proposed Woodfibre LNG project, at Squamish, B.C. Allowing a rate of around C$0.77 per gigajoule of natgas--about C$0.20 lower than "current industrial rates" in the province.

All of this is good news for North American LNG developers. But the flurry of developments may actually be a signal of things getting desperate for this energy sub-sector.

Even as legislators were passing these new rules, LNG prices in key markets like Asia have been hitting fresh lows. The Japan-Korea marker, for example, plunged to $7.10 per MMBtu last week.

That's a level we haven't seen since early 2010. And well below the $20/MMBtu prices that were prevailing here as recently as late 2013.

At today's prices, LNG shipments from North America to Asia may well be uneconomic. Watch for news on whether proposed export projects will proceed amid such an environment--government incentives or not.

Here's to timing,
Dave Forest


[e-mail] "

[Popeye82]

This 'Critical Copper Nation Has Begun Seizing Mines'
http://oilprice.com/Finance/investing-and-trading-reports/Th…

"An important saga for the global copper market is continuing to play out in one top-producing nation. With developments this week showing that the government here is moving ahead with ambitious plans to take greater control of the mining industry.

The place is Indonesia. Where officials said they will soon begin taking larger ownership stakes in projects, pushing existing operators to divest ownership.


Local media reported that the director general for Indonesia's Energy and Mineral Resources Ministry, R. Sukhyar, has said major producer Freeport McMoRan will be one of the first firms compelled to divest a project interest. With the director general noting that plans are for Freeport to divest an initial 10.6% stake in its Indonesian subsidiary to the government.

The move will take place soon. With the government saying that the divestiture is scheduled to be completed by October of this year.

And this is only a first step. Following this initial tranche of 10.6%, Freeport will be required to divest an additional 10% of its ownership in the local subsidiary--expected sometime in 2016.

The move represents somewhat of a "double whammy" for Freeport. Which is also being forced by the Indonesian government to construct a multi-billion dollar smelter in country. Part of new mining regulations that ban the export of unprocessed ore here.

The government this week extended a temporary approval for Freeport to continue exporting copper concentrate from its existing operations. But officials warned that the major miner needs to move fast in advancing construction of a smelter in order to be allowed this privilege.

For its part, Freeport has indicated that it plans to go along with the divestments--and invest up to $17 billion in its Indonesian operations, including smelter construction.

This shows just how critical these operations are for the company. With management willing to shoulder even the steep terms that have been put forward lately, in order to keep production going.

But the story could be different for firms looking at earlier-stage development and exploration in Indonesia. With the developments above having made the investment climate here notably more risky. Watch for more developments from the government in relation to current projects--and for any resulting changes in mining activity across the country.

Here's to taking stock,
Dave Forest


[e-mail] "

[Popeye82]

Antwort auf Beitrag Nr.: 49.024.049 von Popeye82 am 09.02.15 22:11:47

A 'Massive Natgas Production Cut You Didn't Hear About'
http://piercepoints.com/a-massive-natgas-production-cut-you-…

"The natural gas market in North America is fretting about over-supply. But in another one of the world’s key natgas centers, the problem is exactly the opposite this week.

The place is Western Europe. Where unexpected events may have tipped natgas into shortage — pushing prices higher.

On Monday, the government of the Netherlands announced significant production cuts for the country’s giant Groningen natgas field. Immediately restricting the output of the field to 16.5 billion cubic meters (bcm) for the first half of 2015.


That’s a sizeable drop in output from Groningen. Suggesting that the field will produce something on the order of 33 bcm of natgas for the full-year 2015. Which would represent a 16.5% cut from the previous field production target of 39.5 bcm yearly.

This is critical to natgas supply not just for the Netherlands, but for Europe as a whole. Given that Groningen is Western Europe’s largest gas producer — and has long been an anchor of supply for the region.

And the lost production here can’t simply be brought back if prices rise. The field output is being restricted because of concerns over earth tremors in the area. With the Dutch government having come under pressure to keep output low in order to protect public safety.

That means natgas buyers across Europe will have to look elsewhere for supply. And that’s already having an effect on prices.

Platts reports that natgas prices in the U.K. particularly have been climbing. Hitting 52.50 pence per therm, or about $8 per mcf this week.

The Dutch production cuts could well drive U.K. prices even higher. Data show that natgas imports from the Netherlands into the U.K. have fallen off a cliff since the Groningen restrictions were announced. With flows on the key Bacton pipeline system having dropped to 6 million cubic meters per day, down from 30 million cubic meters just last week, prior to the Dutch decision.

This could be a sleeper trigger for natgas in this part of the world. Watch for continued data on flows into key markets like the U.K. — and surges in prices if shortages persist.

Here’s to a big shakeup,

Dave Forest

[e-mail] / @piercepoints "

[Popeye82]

Antwort auf Beitrag Nr.: 49.003.757 von Popeye82 am 06.02.15 19:46:14

Official Comments 'Show This Gold Market Is Priming'
http://piercepoints.com/official-comments-show-this-gold-mar…

"Critical news in the ongoing saga over India’s gold imports this week. Showing that a major return in bullion demand may be closer than anyone was expecting.

The Wall Street Journal broke the story that a long-awaited cut in India’s gold import duties is brewing. With key government officials now pushing for a reduction in these tariffs.


According to the Journal, the pressure is coming from India’s trade ministry. Which has reportedly asked the country’s finance ministry to reduce gold tariffs, according to an unnamed “top official” within the government.

Even more important is the possible scale of the tax cuts. With reports suggesting that the trade ministry is seeking a reduction in tariffs to just 2%. A substantial cut from the current 10% duty.

The move is coming as pressure mounts from India’s bullion and jewellery sector to increase domestic sales. And as I noted last week, demand from consumers seems to back up this sentiment — with gold imports expected to have increased 50% for the fiscal year ending March 31.

If these high-level negotiations prove successful, it would almost certainly be a trigger for gold imports to rise further. After all, imports in the 2011-12 fiscal year were over 1,000 tonnes — and that was at a time when gold prices were running as much as 50% higher than today.

With bullion currently selling much cheaper, a tax cut could spur a lot more buying — and help the global gold price in the process. Watch for news over the next week on a final decision from the finance ministry.

Here’s to a golden recovery,

Dave Forest

[e-mail] "

[Popeye82]

'This Continent's Mining Industry Could Crumble, This Week'
http://piercepoints.com/africa-mining-platinum-coal-ironore-…

"The title may sound hyperbolic. But Africa is indeed on the verge of complete upheaval in its minerals sector over the coming several days.

For one reason: government.

Start in major mining center South Africa. Where an announcement is expected any day on new “strategic minerals” law in the country.


The government here has been working for years on a new mining code. With the “strategic” designation being one of the most contentious points.

In short, regulators want to take greater control of sectors that are deemed to be in the public interest. Including possibly regulating sales, prices, and other aspects of mining for the nominated minerals.

There has been discussion that this could include coal–which meets 77% of South Africa’s primary energy demand. Iron ore, platinum, chromite and vanadium are other possibilities.

An announcement on exactly which minerals will be designated strategic was expected late last week–but has not yet emerged. Meaning we might see some clarity on this key issue in the days ahead.

Changes are also afoot to the north, in Democratic Republic of Congo–the world’s fifth-largest copper-producing nation. Where officials said last week they are submitting a new national mining code for ratification.

The DRC government has previously said it wants to increase taxes and royalties on copper miners. Officials had been consulting with the mining industry on the matter, but said last week they have “unilaterally” halted such discussions–and are now tabling the new mining code for approval.

Representatives of the country’s Chamber of Mines said that the royalty issue has not been solved. And cautioned that passing of the new law could be a “material threat to further investment”.

Finally, there’s Zimbabwe. Where platinum miners have reportedly been scrambling to get clarity on the government’s recently-imposed 15% export tax on the metal.

News last week suggests that the results of this new tax could be dire. With a memo leaked to Reuters from management of Zimbabwe’s largest platinum mine, Mimosa, suggesting that the operation “will be forced to go on closure” under the new tax regime.

All of which suggests we could see some game-changing developments very soon. Watch for a final decision from South Africa on strategic minerals, approval of the draft mining code in DRC and details on potentially increased royalties, and more developments from platinum miners in Zimbabwe.

Here’s to regulatory changes,

Dave Forest

[e-mail] "

[Popeye82]

Antwort auf Beitrag Nr.: 49.004.003 von Popeye82 am 06.02.15 20:13:56

Gold mines in Ghana to be sold, over power problems, Some gold mines in Ghana are about to be closed mainly due to power shortages that interfere with operations. The Chamber of Mines in Ghana has declined to name the mining companies
www.miningreview.com/gold-mines-in-ghana-to-be-sold-over-pow…

"Some gold mines in Ghana are about to be closed mainly due to power shortages that interfere with operations. The Chamber of Mines in Ghana has declined to name the mining companies.

The Chamber has continuously called for lower taxes on diesel but the government wasn’t fast enough to provide for a solution that would save mines from shutting down. Ghana’s Minister of Power, Kwabena Donkor, however, is confident enough to say that he’d resign if he can’t fix the electricity cuts by January next year.

“I have heard of mines who are at the edge and are looking for buyers due to a combination of factors,” says Sulemanu Koney, The Chamber’s CEO. “[Mining Companies] can’t pile up other unplanned costs like using generators for long hours.”

Early this year, mining companies all over the world enjoyed longer operational hours for less cost because of low oil prices. However, Ghana’s oil taxes make it impossible for companies in the country to enjoy the rollback. Other factors that affect the power shortage in Ghana include falling water levels that power up hydroelectric dams and the shortfall of natural gas in the country. The common practice is that the government pulls the plug on electricity for up to two days in order to offset the shortage.

According to reports, companies have also decided to sell their mines because of falling gold prices. Early in January, gold prices soared thanks to a number of factors including the European Central Bank’s Quantitative Easing and India curbing its gold import law.

While falling gold prices are used as a signal to sell by some, others aren’t affected by it. BullionVault mentions that The Bundesbank, Germany’s Central Bank, has no intentions of selling its gold until 2020 (See: https://www.bullionvault.com/gold-news/germany-gold-01162012… Germany has always seen the precious yellow metal as hedge to a bad economy and doesn’t use it for short-term gains.

Ghana is Africa’s second largest gold producer and the closure of some of its mines would significantly affect its GDP. Gold currently makes up for >90% of the total mineral exports in the country. "

[Popeye82]

Antwort auf Beitrag Nr.: 49.057.427 von Popeye82 am 13.02.15 00:39:23

Here 'Are The '1st Big Changes', For India's Gold Imports'
http://piercepoints.com/india-gold-import-coins-medallions-r…

"India's gold import market is becoming a weekly subject. With developments coming fast out of the world's top gold consuming-nation.

We got another key decision this week. With regulators making one of the biggest moves in months in terms of loosening rules for bringing bullion into the country.

On Wednesday, the Reserve Bank of India said it is lifting a ban on the import of gold coins by banks. Financial institutions will now be free to bring in as much gold as desired, in the form of coins and medallions.


Such shipments had been frozen since last year. And the opening of this import channel could thus provide a major lift to gold-buying in the country.

Especially for the jewellery sector. Which has traditionally used banks in order to obtain gold for processing -- an option that has been completely closed of late.

The Reserve Bank said that commercial banks will be allowed to resume their usual practice of importing gold on "consignment" for customers in the jewellery sector. Under this system, banks can lend their imported gold to jewellers -- helping to increase the overall metal supply in the country.

Some restrictions still remain on banks in terms of gold supply. Imported gold coins will have to be used immediately -- either through sales to customers, or through loans. Any un-utilized gold supply will be subject to re-export.

We're thus not back to complete freedom in this key market. But things are getting a lot closer to normal. The next step would be a reduction in gold import tariffs from the current 10% -- a move that was officially recommended by India's trade ministry last week.

Watch for more regulatory announcements from India's finance ministry as this saga continues to unfold.

Here's to banking on gold,

Dave Forest "

[Popeye82]

Indonesia may double coal mining royalties, in March
www.mining-technology.com/news/newsindonesia-proposes-doubli…

"The Indonesian Government plans to double coal royalties from next month, in addition to improving monitoring of the coal mining sector.

According to local media reports, the federal government intends to tighten its control of the industry, which is largely governed by state administration.

The royalty rise will increase non-tax revenues from coal and minerals to IDR52.2tn ($4.05bn) this year from IDR35.4tn last year.




Yet to be approved by the finance and economic ministries, the proposal to double royalties comes at a time when coal prices have been declining worldwide.

The industry fears that higher royalties will affect smaller and newer mining firms that focus on producing low-quality coal.
"The industry fears that higher royalties will affect smaller and newer mining firms that focus on producing low-quality coal."

The proposal is applicable to mining business permit (IUP) holders in Indonesia.

Coal and Minerals director general Sukhyar said: "The main impact will be felt by companies [mining] low calorie [coal]."

Low calorie coal of up to 3,000 kilocalories per kilogram makes around 30% of Indonesia's output.

The Indonesian Coal Mining Association (ICMA) requested that the government delays the increase until coal prices move from the current $72 per tonne to more than $80.

Between 2010 and 2011, many companies entered Indonesia's coal mining industry and borrowed capital to invest in coal business; however, smaller mining companies have not been able to repay their debts due to the sluggish global economy.

According to Sukhyar, by 2019, the country expects to reduce annual coal production to 400 million tonnes (Mt) while boosting domestic consumption from 90Mt this year to around 190Mt. "

[Popeye82]

Apple "puts batteries @the centre of its 'EV masterplan' "
www.wsj.com/articles/apple-sued-for-poaching-a123-employees-…

"Law suit exposes Apple's electric vehicle ambitions; Supply chain excellence key to company cutting battery costs and increasing volume for secret EV plan, Project Titan


Apple Inc is being sued by lithium-ion battery producer A123 Systems for "systematically" poaching employees to establish a new battery division, expected to power the company’s foray into the electric vehicle (EV) sector.

The venture, reportedly named Project Titan, has already seen Apple recruit “hundreds of employees” according to the Wall Street Journal.

The law suit filed by A123, signifies intensifying competition in the EV market, as firms seek to establish themselves in the industry ahead of what are expected to be significant growth rates over the coming years.

As these project developments expose a shortage of skilled battery experts in today’s market, attempts by major technology firms to develop battery capabilities increases the potential for tightening supply conditions in raw material markets.

With established producers such as Tesla Motors, Foxconn, LG Chem and Boston Power already developing battery megafactories, the introduction of major new, financially powerful producers, such as Apple, is likely to put significant strain on upstream suppliers.


Battery supply chain: from mine to market




Transferring supply chain excellence to EV is key

Apple is the ultimate modern company in terms of supply chain management.

Since becoming CEO in mid-2011, Tim Cook has turned Apple into the most profitable company in history. Cook has taken the innovative products created by former CEO Steve Jobs and commercialised them to a level never seen before in consumer electronics.

The distribution channels Cook and his team have developed - in addition to cutting manufacturing costs - has seen the portable electronics market boom to levels beyond even the most bullish of expectations. Industry spectators will be curious to see if this success can be replicated in the EV space.

Through the company's efficient supply chain management and close partnership with manufacturer Foxconn Technology Group, Apple made $18bn in revenue, selling 34,000 iPhones an hour, on average, between October and December 2014. That equated to 74.5m units over the quarter.

The logistical operation to execute such huge numbers on a global scale is truly staggering and is one that sees Apple sitting on $178bn in cash.

So the question is: what new global growth market can Apple invest its huge sums of cash in while playing to its strengths?

In Benchmark Mineral Intelligence’s opinion, there are not many options available and the EV sector is the strongest viable market.

In essence an EV is more akin to an iPhone than a car - it is an iPhone on wheels. The software that drives the car's efficiency is nearly as important as the batteries that power it. Yet EVs are a new technology entering a very well established auto industry that has not seen true disruption since it was founded.

Tesla Motors has already proven what slick design, innovative thinking and good software can do for a high-end EV market bereft of major improvements in batteries. These are all hallmarks of Apple.

Tesla has also identified that cheaper and better batteries are the only way that the mass market EV space will succeed and has therefore invested $5bn in building the Gigafactory - a lithium-ion super-plant that will require huge volumes of high-specification graphite, lithium and cobalt to fuel it.

While building a team of battery experts is a start, new market entrants will soon find having supply chain visibility and control all the way upstream to the mine is crucial to any EV or battery plan and the only way to truly dominate the space.

Apple's entry into this market will just intensify the search for a new generation of hi-tech raw material suppliers.

Benchmark Mineral Intelligence
London "

[Popeye82]

die Zahl wieviel in das Ding reingeht sind wohl doch umstritten
zumindest was die Nachfolgediskussion, auf den Artikel, angeht
ich finde es aber -so oder so- üüübel faszinierend mit was für einem kleinen Produkt, eine einzige Firma, vermutlich für, riesengroße, Dimensionen stossen kann
da sollte man -auch- mal rückwirkend schauen wieviel die dann dafür wirklich brauchen

Apple buying a 3rd of world’s gold, to meet demand for iWatch
www.mining.com/apple-buying-a-third-of-worlds-gold-to-meet-d…
http://blogs.wsj.com/digits/2015/02/17/apple-orders-more-tha…
http://tidbits.com/article/15443

"

- The model comes with an 18-karat gold case, designed to be "twice as hard as standard gold." It also utilizes a sapphire crystal display, and can be outfitted with either a leather or sport wristband. -


Technology giant Apple (NASDAQ:AAPL) may soon buy up one third of the world’s gold in order to meet the demands of its highly anticipated Apple Watch, according to reports.

Interest in the high-end model, featuring 18-karat gold casing, is picking up and the firm is already taking the necessary steps to have enough of them in stock. According to WSJ.com, Apple plans to start producing more than one million units per month in the second quarter of the year, anticipating high demand from Asian markets, mainly China.



- This Apple Watch could cost as much as 10 iPads. -


Josh Centers, from TidBits, estimates that each gold watch will contain 2 troy ounces (62.2 grams) of gold. So, based on the estimated sales figure, he concludes that Apple will need 746 tons of gold a year, or about 30% of the world’s annual production.

His estimations — admittedly based on the Wall Street Journal predictions, not official figures — would mean that Apple may soon become a major player in the world’s luxury watch market, grabbing about half of it. "

[Popeye82]

Iron ore price crashes through $60
www.mining.com/iron-ore-price-crashes-60-48006/?utm_source=d…

"The decline in the price of iron ore accelerated on Thursday with the steelmaking raw material plummeting 4.5% as prospects for China's economy and its steelmaking industry become grimmer.

The 62% Fe benchmark import price including freight and insurance at the port of Tianjin tracked by The SteelIndex lost $2.80 or 4.5% to $59.30 a tonne on Monday.

After almost halving in 2014, the price of iron ore is now down another 20% this year.


On Thursday China’s Premier Li Keqiang told the National People’s Congress downward pressure on the economy was building and set the country’s economic growth target at around 7% the smallest expansion since 1999.

Beijing's intensifying "war on pollution" could also bring benefits to iron ore exporters

The country will also intensify efforts to cut overcapacity in industries like steelmaking and do more to tackle the "blight" of pollution Li said in his downbeat opening speech at the opening of the country's annual parliament session.

China's steel production, which consume more than two-thirds of the 1.2 billion tonne annual seaborne trade, fell last year for the first time in 30 years as the country's crucial property sector comes under pressure and infrastructure investment slows together with the pace of urbanization.

Beijing's intensifying "war on pollution" could also bring benefits to iron ore exporters, however.

China's mines produce some 350 million – 400 million tonnes a year on a 62% Fe-basis. Around one-third of the many small mines struggling with low iron ore content (average close to 20%) have costs per tonne of more than $100.

The bulk of Chinese fines require a process called sintering (fines are mixed with coking coal and partially smelted) before being fed into blast furnaces, which greatly adds to the steel industry's environmental impact.

China's steelmakers have been substituting domestic supply and reducing the percentage of fines in favour of pellets and so-called "lump" ore from Australia, South Africa and South America which lowers costs and cut pollution by reducing the need for sintering.

Andy Xie, a closely-followed independent economist based in Shanghai, said last month prices could decline to between $30 – $40 a tonne because only then Chinese mines "will be forced to give up."

Thank's to Beijing's tough stance and renewed commitment to enforce environmental laws these miners may now be forced out sooner. "

[Popeye82]

Coal India is seeking new mining technology from Australian companies, that will enable it to extract more than 70% of additional coal, from its loss-making underground mines - MT - Jan 16, 2015
www.mining-technology.com/news/newscoal-india-is-seeking-new…

"Coal India is holding talks with Australian companies to acquire a new technology that will enable it to extract more than 70% of additional coal from its loss-making underground mines.

At present, Coal India uses the bord and pillar technology, which involves building pillars of coal to keep the mines from caving in.


After mining the reserves to support the roof, the pillars are said to be left untouched.

A Coal India official told The Economic Times: "Coal India is using the bord and pillar technique in about 230 of its mines.




"About 40 million tonnes (Mt) of coal per mine is locked in the pillars at the moment. We are interested in the technology that will help us extract coal that otherwise is left untapped."

Coal India plans to acquire technologies that include a technique for filling gaps left after extracting coal from the pillars with a waste product fly-ash, which is generated by thermal power stations.

Acquiring the new technology is expected to help the company meet its targeted output of one billion tonnes by 2020.

The majority of Coal India's three lakh workforce is employed in around 230 underground mines that produced 36Mt of coal from 2013 to 2014.

According to a separate announcement made by The Telegraph, mining companies in Australia are seeking business tie-ups with Coal India, as it is considering increasing production to meet its target of 925Mt by 2020.

Coal India officials said that the company hopes to secure participation of private and foreign companies in various areas of mining. "

[Popeye82]

was zu beweisen ist

Copper market vulnerable to DRC politics: CIBC
www.mining.com/web/copper-market-vulnerable-drc-politics-cib…

[Popeye82]

China to shut remainder of its major coal power stations in Beijing, China will shut the last of its four major coal-fired power stations in Beijing, replacing them all with gas run plants - MA/BB, BEIJING - Mar 25, 2015

- C. Latimer -
www.bloomberg.com/news/articles/2015-03-24/beijing-to-close-…
www.miningaustralia.com.au/news/china-to-shut-remainder-of-i…
www.miningaustralia.com.au/news/china-to-cut-coal-consumptio…

"China will shut the last of its four major coal-fired power stations in Beijing, replacing them all with gas run plants.

These plants will officially shut down next year, in an effort to stem the country’s rampant pollution problems, according to Bloomberg.

It reports Beijing will close China Huaneng Group’s power plant next year, having already closed two major power plants last week, and another last year.




Power to the city will instead be provided by four gas-fired power stations that are able to generate more than twice the power of the coal plants.

The move is part of a greater push to cut pollution in the country, as smog reaches new dangerous levels.




Earlier this year the nation announced it would look to reduce coal consumption levels by 160 million tonnes over the next five years, with 13 million tonnes being reduced in Beijing alone. "

[Popeye82]

This 'Critical "26% Rule" ' For Miners Is Going, to Court
http://piercepoints.com/southafrica-mining-blackempowerment-…

"Potentially critical ruling coming up for one of the world’s largest mining centers: South Africa.

The national government this week released a key policy review. Looking at how “black economic empowerment” (BEE) rules have been implemented by the mining sector.

One of the biggest outcomes from the report was continued controversy over the “26% rule”. Which states that black interests in the country must control at least 26% of South African mining firms.


The problem, according to the report, has been the implementation of this rule. With officials pointing out that some miners have achieved 26% black ownership for a short period — but then slipped back below the threshold percentage after BEE shareholders sold their equity in the company.

Mining firms contend that such selling is beyond their control. And that they should be considered to have met BEE obligations so long as they initially come in above the 26% threshold — regardless of what happens to shareholdings afterward.

The government sees it differently. Saying that miners should be required to maintain 26% BEE ownership at all times.

Officials from both the government and mining groups say there is still “no consensus” on how to resolve this issue. And so the South African Chamber of Mines has agreed to approach the courts, along with state regulators, to ask for a final decision.

The government noted that a court judgement on the issue could come down as early as April. Which will be a critical shift for the mining industry here.

If judges do uphold the government’s position, it will be one more burden for miners to bear. Companies will be forced to find a way to maintain a perpetual 26% BEE ownership — which could mean giving discounted shares to applicable holders, or implementing other financial strategies.

The bottom line is that corporate costs would go up. At a time when the South African industry is already battling high production costs, and low metals prices. Watch for a decision from the courts over the coming weeks — it could have important implications for commodities like platinum, gold and coal.

Here’s to maintaining control,

Dave Forest "

[Popeye82]

Here's "A Strategy We've Never Seen Before, in Gold Mining"
http://piercepoints.com/gold-india-australia-mining-silver/

"It might prove to be a one-off. But one group in the gold industry this week forged ahead with a unique strategy -- which might just change the market.

The group is India's largest jewellery-maker, Rajesh Exports. Which said that it is taking an unusual step in securing gold supply for its operations.

Buying gold mines.


The firm's owner, Rajesh Mehta, told reporters in Australia this week that he is visiting the country to vet potential mining acquisitions. Adding that his company has hired investment bankers to identify assets that could "ensure a reliable and permanent gold supply-line to our company".

The buys are apparently sizeable. With Mehta indicating that he may spend up to $700 million to acquire "equity or loan" interests in mining projects.

"We would also like to invest in the retail jewellery sector in Australia," he said. "That is, take the gold from here, process it in India and then supply the jewellery back here in the retail line that we set up here."

Of course, the words of one company don't make an industry trend. But in the case of Rajesh Exports, the firm does have substantial clout in terms of gold demand -- currently consuming about 140 tonnes per year of the metal. Equal to about 15% of India's total yearly gold import volume.

That sort of demand -- not to mention the equity injection that could come with it -- would be a major boost for Australian gold miners.

It also signals an interesting trend in natural resources of late. Where end users of metal globally are becoming some of the most active parties in funding new mining projects.

We've seen similar moves from state-owned metals firms in Asia -- in markets ranging from copper to platinum to coal. But the Rajesh Exports asset buy would be one of the first-ever project transactions by an end user for the gold market. Watch for announcements on specific investments for the firm.

Here's to going to the source,

Dave Forest "

[Popeye82]

They "Just Approved 35% Higher Imports, of This Commodity"
http://piercepoints.com/coal-india-imports-electrcity/

"The India coal situation keeps getting more interesting. With national regulators this week announcing they’re going to need a lot more supply this coming year.

India’s Central Electricity Authority (CEA) said this week that it will raise imports by 35% for the coming fiscal year (April 1 to March 31). With total shipments jumping to 73 million tonnes, up from 54 million tonnes in fiscal 2014-15.


The increased imports will be allocated amongst a number of India’s coal consumers in the power sector. Including state generating giant NTPC, which will be allowed to import 22 million tonnes. Other coal importers will include generation companies owned by a number of India’s states, as well as private firms such as Reliance and Vedanta.

This jump in import targets comes on the heels of a big rise in coal use for the previous year. With data late last month showing that India’s coal imports in fiscal 2014-15 rose 19%, to around 200 million tonnes.

It thus appears the coming year will see India’s coal market continue to surge. Which could be a rare bit of good news for coal miners able to service users here.

News of the increased import targets coincided with reports that yet another Indian mining firm is looking to buy overseas coal assets. With state-owned Singareni Collieries Company saying that it will soon announce an expression of interest for miners abroad looking to sell assets.

Singareni said that it is seeking mines with capacity to provide supply of five million tonnes yearly. And that the company was particularly interested in projects within South Africa, Indonesia and Australia.

That clearly shows which coal markets India is focused on. These being the only current suppliers positioned to sell into the Indian market.

With import needs getting tighter, watch for more India-backed project deals coming in these countries. And keep an eye out for emerging producers like East Africa, which could take advantage of this resource trend on the rise.

Here’s to outsourcing,

Dave Forest "

[Robert_Reichschwein]

das hat die deutsche Degussa in den 70igern auch gemacht

statt Gold in London teuer zu kaufen lieber eine eigene Mine eröffnet

wenn der Schmuckhändler gross genug ist macht das Sinn

[Popeye82]

@robert

"weeenn er gross genug ist", dem schliesse ich mich an
es dürfte nur vermutlich ziemlich wenige geben, die in so einer Liga spielen


'Event Horizon: Copper Laws, Moly Exports & Big Oil Opps', "Critical events to watch in the resource world these days, weeks, and months."
http://piercepoints.com/zambia-copper-royalties-taxes-molybd…

"Monday, April 13: Zambia’s government tables changes to copper royalties

Royalty changes for miners in Zambia have been a contentious issue. With the government increasing royalties in January to 20% for open pits mines and 8% for underground operations (up from 6% for both categories previously).

In the face of protests and falling metals prices, Zambia’s president Edgar Lungu last month asked his finance and mining ministers to revisit the royalty hike. With recommendations mandated to be in by April 8.

The government said yesterday the proposed royalty revisions have now been submitted, and will be tabled by Zambia’s cabinet on Monday. Watch Reuters Africa for news on the scale of the royalty changes — a substantial cut in rates being supportive for mining stocks with operations here. And for the Zambian kwacha, which had been weakening in the wake of the royalty increases.


Saturday, May 2: China to lift molybdenum export restrictions

Chinese export restrictions have caused market-moving changes for metals like rare earths, tungsten and molybdenum. But last August the World Trade Organization ruled that such export controls were illegal — prompting China to commit to removing the measures by May 2.

There has yet been no guidance from the government on how exactly the export laws will be changed. But any moves that allow heightened exports could affect all of these markets — China had, for example, been the world’s largest exporter of ferromolybdenum, prior to the export controls being introduced in 2007. Watch Platts Metals for the latest.


September 2015: Iran shows off new oil and gas opportunities, to the West

Iranian officials said last week they want the West to be involved in their next round of oil and gas contracts. And to prove it, the government announced it will host an international conference on project opportunities in London this September.

It’s still early days, and there’s lots to be done in finalizing an Iran deal and lifting Western sanctions. But for developers looking for the next big petroleum play, this is an event worth penciling in to your calendar — watch IRNA for further details on timing and arrangements for the conference.

Here’s to revisions, provisions, and big decisions,

Dave Forest

[e-mail] "

[Popeye82]

A "Daring Plan, To Cut Gold Imports 25%, In This 'Top Market' "
http://piercepoints.com/gold-india-bullion-imports-temples-m…

"Here's an unexpected twist to the ongoing gold market saga in India.

Bullion donations from god.

It sounds fanciful, but the world's number two gold consumer is looking to donations from religious institutions to lower its bullion import demand. And insiders say the plan might just work.

The scheme revolves around massive gold holdings accumulated by India's Hindu temples. Which the government now wants to access, according to reports from local press this week.

Reports suggested officials will launch a program in May where temples can loan their gold to the central government. In exchange, the lenders will receive interest payments on the gold holdings they deliver.

The government then plans to melt down the received gold and lend it out again to local users.

The critical point is the effect this plan could have on India's gold imports. Effectively reducing the need for foreign bullion in meeting local demand. With some estimates suggesting that temples could hold enough gold to cut imports by 25% -- or about 200 to 250 tonnes per year.

That would be a substantial loss of demand for the global gold market. And a big negative for prices.

Of course, it still remains to be seen whether the plan will succeed in attracting gold loans -- especially given widespread distrust of the banking system in India.

A similar gold loan scheme with temples was actually tried before, in 1999. And failed almost completely -- because very few gold holders chose to sign onto the plan.

Sources say the difference this time around will be higher interest rates offered by the government. With suggestions that payments may range as high as 5% -- as compared to just 1% previously.

There are still a lot of questions, but this bold plan is a big item to keep an eye on for gold investors. Watch for more details on the scheme coming in May.

Here's to taking one to the temple,

Dave Forest

[e-mail] "

[Popeye82]

25% of global copper miners are bleeding red ink
www.stockhouse.com/news/newswire/2015/04/13/day-of-reckoning…

"Nearly a quarter of the world's major copper mines are running in the red, even after producers including Codelco and BHP Billiton Ltd. (NYSE: BHP, Stock Forum) engage in their deepest cost-cutting in years, according to a Reuters analysis that was also posted in a Scotia Capital repor.

A 17-percent slump since last July has pushed copper futures on the London Metals Exchange to under $6,000 a tonne, the lowest since 2009, is the first major test of producers' margins since the global economic crisis, forcing a new reckoning after five years of relatively consistent profitability.

Codelco, the Chilean state miner that produces about 8 percent of the world's copper, will review the cost reduction plan at its Salvador mine as it prepares to restart operations there after torrential rains shuttered the complex in March, said a source close to the state-run miner. The company has an ambitious target to slash total costs by as much as $1 billion this year.


Salvador produced copper at a cost of some $11,439 per tonne in the fourth quarter last year, the highest out of 91 mines analyzed by Thomson Reuters unit GFMS as part of its Copper Mine Economics database. The mines account for more than two-thirds of global output, and almost a quarter of them had production costs late last year above current prices.

The GFMS analysis, which is based on quarterly and semi-annual filings by 26 mining companies, gives the deepest insight yet into the voracious pace of cost-cutting by miners late last year as the sell-off in copper quickened, a hot topic at CRU Copper's conference in Santiago this week.

In the final three months of last year, the industry's total costs on average fell by 6 percent to $4,426 per tonne quarter-on-quarter, the lowest since late 2013, GFMS said. "

[Popeye82]

Court rules against Japanese nuclear restart, Japan’s nuclear restart program has been stalled, with a court halting plans to turn back on two operations in the city of Takahama
www.miningaustralia.com.au/news/court-rules-against-japanese…7
http://uk.reuters.com/article/2015/04/15/japan-nuclear-regul…

"Japan’s nuclear restart program has been stalled, with a court halting plans to turn back on two operations in the city of Takahama.

The two reactors had already passed testing by the Nuclear Regulation Authority (NRA), but the Fukui District Court said the safety standards lacked rationality.

The court was asked to step in by concerned locals who fear Takahama is not strong enough to withstand an earthquake, Reuters reports.

Head of the NRA Shinichi Tanaka said there was no need to revise the department’s regulatory standards.

"I do not feel that we need to immediately change our regulatory standards or the content of the vetting process at this time," Tanaka said.

All of Japan’s 48 nuclear plants were shut down after an earthquake triggered a tsunami in 2011, causing a meltdown at the Fukushima facility.

However Prime Minister Shinzo Abe has been pushing for their reopening as the cost of importing oil and gas hurts the Japanese economy.

Before the meltdown nuclear energy produced around 30 per cent of Japan’s power.

Plans last year to restart two reactors near Osaka was also halted by local courts. "

[Popeye82]

Iron ore price back below $50, after Chinese property shock
www.mining.com/iron-ore-price-back-50-chinese-property-shock…

"

- A sticky situation -


After a two day surge the spot price of iron ore slipped back on Wednesday following dismal economic news from top consumer of the steelmaking ingredient China.

The 62% Fe import price including freight and insurance at the Chinese port of Tianjin lost $0.40 or 0.8% to $49.70 a tonne on Wednesday. Iron ore remains down nearly 30% this year, after a 47% decline over the course of 2014.

Economic growth data released on Wednesday showed first quarter GDP in China, which consumes more than 70% of the world's seaborne iron ore trade, expanding at the slowest rate since the height of the global financial crisis.


While the overall economic expansion of 7% – the second-worst quarterly growth since 2000 – was anticipated, the property sector continued to deteriorate.

Residential property sales fell 9% compared to 2014 while inventories of unsold residential property rose a whopping 24%. The country's property sector accounts for almost half of all steel demand and nearly 60% of its copper demand.

The slump in the price of iron ore has prompted top exporter Australia's Treasurer Joe Hockey to seek high level talks with his Chinese counterpart reports Bloomberg:

“I will be speaking with the Chinese finance minister in Washington about expected demand for iron ore over the next 12-months and beyond,” Hockey told reporters in New York. “Obviously we don’t control commodity prices, but I think everyone has a responsibility to ensure that our supply to key markets is consistent, predictable and reliable.”

“Frankly, when you have an iron ore price that has dropped as dramatically as it has in the last 12 to 18 months, we’ve got to build shock absorbers into our system to cope with it,” Hockey said, who is in the U.S. to attend a meeting of Group of 20 finance ministers.

While Chinese demand has played a role in the price declines, it remains fairly robust.

China imported 80.5 million tonnes in March, an 18.5% jump from the previous month. While seasonal factors played a huge part in the recovery from February, first quarter shipments managed to eke out a 2% gain from 2014's already record setting pace.

Most analysts have laid the blame for the weakness on the supply side. Led by the Big 3, iron ore miners invested north of $100 billion in new projects and expansions since the start of the decade.

Rio Tinto is on target to reach 330 million tonnes this year, 35 million tonnes more than 2014. The world's number two producer has a goal for 360 million tonnes per year by 2017. BHP Billiton's capacity will reach 225 million tonnes in 2015 with longer term ambitions in excess of 300 million tonnes.

Vale is expected to ship 340 million tonnes this year, more than 20 million tonnes greater than last year. After lagging the expansion of Australian producers during the height of the boom, the Brazilian giant is catching up fast with its longer term ambitions of over 400 million tonnes a year.

Outside the big three, growth has been just as rapid.

Fortescue Metals have hit targeted production of 165 million tonnes per year while Anglo American last year started production at its 26 million tonnes per annum Minas Rio mine in Brazil.

And there's more to come: Unlisted miner Hancock Prospecting's Roy Hill project in Australia could start shipping 55 million tonnes-a-year as early as September this year. "

[Popeye82]

Oil-dependent Newfoundland and Labrador 'overall competitiveness may be slipping'
www.stockhouse.com/news/newswire/2015/04/16/oil-dependent-ne…

"ST. JOHN'S, N.L. _ It has come a long way economically in the last 15 years but oil-dependent Newfoundland and Labrador needs innovation and a workforce influx to compete in future, says a new report.

The Conference Board of Canada released Thursday a study comparing the province to nine of its main competitors, selected for similar exports among other factors. They include Norway, the United Kingdom, Texas, North Dakota, Alberta, Saskatchewan, Quebec, Nova Scotia and New Brunswick.


It ranks the province's gross domestic product and labour productivity in the middle of the pack.

``However, growth of these indicators over the past five years has been slow, indicating that overall competitiveness is slipping,'' it says.

The 108-page report commissioned by the Newfoundland and Labrador Employers' Council was written by Jacqueline Palladini, a senior economist.

She assessed competitiveness based on innovation, investment, human capital and the business and policy climate.

Newfoundland and Labrador has a quickly greying workforce with scores of retirements expected over the next decade, Palladini said from Ottawa. ``It is the oldest economy that we looked at in our study.

``This will pose a profound challenge for the province as it has to compete against these other jurisdictions that are frankly doing better at attracting migration and skilled workers.''

Newfoundland and Labrador heavily relies on mining and oil sectors that expose it to price volatility.

Finance Minister Ross Wiseman has said the province is on track for a $916-million deficit when the spring budget is tabled by the end of this month.

``The current fiscal situation is not sustainable,'' says Palladini's report. ``Expenditures have outpaced revenues through most of recent history and net debt is increasing.''

Newfoundland and Labrador also lags on all innovation indicators, including research and development spending and patent applications, it says.

``In terms of human capital, the province ranks below average on the education and skills indicators and its labour market underperforms relative to its competitors.''

Richard Alexander, executive director of the Newfoundland and Labrador Employers' Council, said the report is a reality check. The province ranks in the bottom half for 21 of 32 comparators ranging from education to research and development investments.

``We've come a long way as a province but there is definitely room to improve and room to move.''

About one-third of government revenues come from finite offshore oil resources. Some of that cash should be set aside as a matter of policy, Alexander said.

North Dakota, Norway and Alberta are among oil producers that have all established such trusts for the future and as a buffer against sudden price drops, he said.

``It's time for us as a province to start thinking about putting away money for the next generation.''

Wiseman has said higher spending over the last decade was in response to pent-up demand for new schools, roads, health services and other needed projects.

Follow bsuebailey on Twitter. "

[Popeye82]

Here’"s A New $1,000,000,000 Funding Source, For Mining Projects "
http://piercepoints.com/mining-quebec-canada-gold-fund-inves…

"Finding project funds is becoming a bigger and bigger issue in the resource space. But developers in the mining sector just got some good news on an innovative new source of capital.

That’s the Capital Mines Hydrocarbures fund. A C$1 billion purse being put forward by the government of one of the world’s top mining jurisdictions—the Canadian province of Quebec.

Quebec’s Economy Minister said last week that the fund is now close to being ready to launch. With C$200 million already put aside—and another C$800 million in follow-on funding being prepared.

The fund will reportedly invest directly in projects within the province. No details have been given yet on what sort of specs the government will be looking for.

Preliminary indications however, are that managers here will look to deploy larger investments into a few different vehicles. With the Minister saying that the fund has "many things in the pipeline" and may be able to support as many as ten projects.

Such direct investments from the government are obviously a novel strategy in the resource space. But in Quebec’s case, buying into resource projects may turn out to be a sound move.

That’s because some of the most important development projects in the minerals space have come within the province the last few years.

The Eleonore gold mine, for example, was commissioned by Goldcorp last year—and represents one of the few projects to go from grassroots discovery all the way to functioning mine during the current resource cycle.

All of which has proven Quebec to be an attractive destination for exploration and development. A reality that will be further enhanced by financial support coming from the new fund.

Add that to existing benefits in the province such as tax-friendly “super flow-through” rules for mining investors, and it appears that Quebec is a place all minerals developers should have on their radar screen.

Watch for specific investments deployed by the fund over the coming months to see if your project might qualify for this unique finance source.

Here’s to putting up the money,

Dave Forest "

[Popeye82]

BHP Billiton lifts iron ore production, BHP Billiton has announced a 20 per cent increase in iron ore production, resulting in the miner lifting its full year guidance - MA - Apr 22, 2015

- V. Validakis -
www.miningaustralia.com.au/news/bhp-billiton-lifts-iron-ore-…

"BHP Billiton has announced a 20 per cent increase in iron ore production, resulting in the miner lifting its full year guidance.

The company produced 58.979 million tonnes of iron ore in the March quarter, a 20 per cent increase on the previous corresponding period.

It now expects to produce 230 million tonnes of iron ore in the 2015 financial year, two per cent higher than previously expected.

At its Western Australian Iron Ore (WAIO), production for the nine months ended March 15 increased by 16 per cent to a record 188 Mt.


BHP said this result was underpinned by continued improvement in the performance of its integrated supply chain, the successful ramp-up of the Jimblebar mining hub, and the limited impact of the west season.

WAIO also posted record sales volumes of 190 Mt as BHP implemented its strategy of increasing the percentage of direct to ship ore, unlocking port capacity.

BHP also increased its production in both metallurgical and energy coal.

Metallurgical coal production for the quarter was 11.4 Mt, a 14 per cent increase on the previous corresponding period.

Production for the 2015 financial year is now expected to be 49 Mt, a four per cent increase on prior guidance.

In energy coal, BHP produced 19.9 Mt in the March quarter, 2 per cent higher than the previous corresponding period.

Guidance for the 2015 financial year remains unchanged at 73 Mt.

Copper production in the quarter increased 11 per cent year-on-year to 460,000 tonnes, but full-year guidance was revised down to 1.7 million tonnes from 1.8 million tonnes.

The downgrade reflects the impact of heavy rainfall in Northern Chile and an electrical failure which caused a mill outage at Olympic Dam in January.

Nickel production in the quarter was down by nine per cent to 32.5 kt, reflecting the closure of Nickel West’s Perseverance mine and an unplanned outage at the Kwinana refinery.

BHP CEO Andrew Mackenzie said his teams continued to exceed expectations a deliver strong operating performances.

Mackenzie revealed the miner remained focused on producing at the lowest cost, with WAIO unit costs now below $US20 a tonne.

Defending the miners iron ore strategy against a wave of recent criticism, Mackenzie said that over the last decade, China’s demand growth provided BHP and Australia with a unique opportunity.

“We acted swiftly to bring on new iron ore capacity at some of the lowest costs globally, generating long-term value for shareholders, the government and communities which would otherwise have been lost to overseas competitors,” Mackenzie said.

“Despite the subsequent increase in supply-side competition, these low-cost expansions continue to deliver attractive margins and returns through the cycle.”

BHP’s iron ore ramp up is not yet over, with the company revealing its WAIO production will go from 250 Mt a year to 270 Mt a year without the need for additional fixed plant investment. "

[Popeye82]

dürfte im Moment wohl eine ordentliche Politikkiste sein
der Fakt an sich ist ja scho länger her, jetzt werden aber nochmal die Umstände neu aufgekocht

Russia took control over 20% of US uranium after Uranium One’s associates made lavish contributions to Clinton Foundation, The sale gave the Russians control of one-fifth of all uranium production capacity in the United States
www.nytimes.com/2015/04/24/us/cash-flowed-to-clinton-foundat…
www.mining.com/new-york-times-takes-on-the-clintons-and-uran…

"A New York Times investigation reveals scandalous details of the Russian nuclear state corporation Rosatom’s acquisition of Uranium One Inc., that established one of the biggest uranium mining firms in the world.


“I am pleased to inform you that today we control 20 percent of uranium in the United States. If we need that uranium, we shall be able to use it any time,” Russian state corporation Rosatom’s head Sergey Kiriyenko said in his address speech to the Russian Parliament after Rosatom consolidated 100% of Uranium One Inc. (U1) in January 2013 and takes it private.

This speech was the final point that sealed the five-year-long-lasted Rosatom – U1 deal triumphantly for Russia, which gained control of more than 20% of uranium resources in the United States, as well as acquired lowest-cost production mines in Kazakhstan.

Today, NYT, based on dozens of interviews, as well as a review of public records and securities filings in Canada, Russia and the United States, claims that donations to Clinton Foundation made in 2006-2011 by U1’s chairman, company’s associates, advisers and other affiliates and totaled to more than $40 million, at least have special ethical issues, keeping in mind that the former president’s wife helped steer American foreign policy as secretary of state, presiding over decisions with the potential to benefit the foundation’s donors.

“Whether the donations played any role in the approval of the uranium deal is unknown”, stated NYT, “but the episode underscores the special ethical challenges presented by the Clinton Foundation”, which can be summarized with two main points:

- The US government's fast-track approval of Rosatom’s acquisition of U1, which controls 20% of domestic strategic uranium reserves

- Multi-million dollar donations to Clinton Foundation from U1’s associates all the way this multi-step transaction progressed.


Read more

Uranium One was taken private in January 2013 at a price analysts considered was too low. "

[Popeye82]

Codelco plans $4,000,000,000 investment, to extend life of old mines, Chile's state-owned copper mining company Codelco has announced plans to extend the life of its oldest mines with a $4,000,000,000 investment this year - MT - Apr 29, 2015
www.mining-technology.com/news/newscodelco-plans-4bn-investm…

"Chile's state-owned copper mining company Codelco has announced plans to extend the life of its oldest mines with a $4bn investment this year.

Codelco CEO Nelson Pizarro told Platts that the investment will also used to bring the mines into line with stringent environmental standards.

The Chilean company plans to spend about $1.2bn on its structural projects, which include deepening its underground El Teniente copper mine and transforming the Chuquicamata pit into an underground operation.

The El Teniente mine is undergoing a structural project since 2011, which aims to expands the mine deeper into the hill at 1,880m above sea level.




The open pit copper mine Chuquicamata is located in the north of Chile, outside of Calama at 9,350ft above sea level, 215km north-east of Antofagasta and 1,240km north of Santiago.

The company will also maintain existing mines with the same amount, and approximately $790m will be used to comply with new environmental rules introduced by Chile.

Codelco will get a portion of the funds from cash injections by the Chilean Government, which plans to invest in the company $1bn a year over the next four years.

Furthermore, the company, which plans to get more funds by raising debt, will take a call whether to construct a new mine named Inca Rajo in 2016.

The mining company recently announced plans to use robotic machinery in a bid to monitor its equipment and improve safety standards at its Gabriela Mistral project.

According to Noticias de Mineracao, the company will deploy the technology to inspect equipment prior to scheduled maintenance. "

[Popeye82]

Goldman Sachs to sell its Colombian coal mines
www.mining-technology.com/news/newsgoldman-sachs-to-sell-its…

"Goldman Sachs is reportedly planning to sell its coal mines in Columbia amid environmental problems and low coal prices.

Sources were quoted by The Wall Street Journal as saying that the US firm is negotiating selling the coal mines at a loss.

The investment banking firm purchased its first Columbian coal mine, La Francia, in 2010 from Canadian Coalcorp Mining.


Goldman acquired its second mine from Vale in 2012, and operated the two mines under its Colombia Natural Resources unit.

In 2010, the unit recorded revenues of $66m and its sales tripled to $200m the following year; however, the business later recorded losses of more than $200m.

Previously, environmental concerns raised by locals prompted the government to order certain companies in the region to relocate three entire villages.

La Francia mine operations were suspended in early 2013 after a sub-contractor abruptly ended its agreement.

According to Goldman's internal records, the mine's activities were suspended and all machinery was abandoned on the field.

In mid-2013, relatives of the employees blocked access to Goldman's second mine due to labour issues, forcing the company to shutdown production for nine months.

In December last year, Goldman sold its metal warehousing unit to Switzerland-based Reuben Brothers, after a drop in commodities prices. "

[Popeye82]

Confirmed: This "Key Nation's Production Could Drop 24%, This Year"
http://piercepoints.com/indonesia-coal-thermal-production-cu…

"There have been rumours the last few months. And last week we got confirmation of a major shift underway in one of the world's biggest bulk commodities.

That's thermal coal. Where it looks as if the world's largest supplier -- Indonesia -- is on the verge of a collapse in output.

Reuters quoted Pandu Sjahrir, the chairman of the Indonesian Coal Mining Association, as confirming that the country's coal producers are now cutting back output in a major way. With Sjahrir saying that overall Indonesian production could drop to between 350 million and 400 million tonnes for 2015.


That confirms previous announcements from Indonesia's government that a major production cut is in the works this year (see "This 21% Decline Is This Year's Most Important Data Yet" - Pierce Points, April 14, 215). And suggests that the scale of the drop could be one of the largest the coal market has ever seen from this critical exporting nation.

Last year, total Indonesian coal production came in at 458 million tonnes. Meaning that a fall to the lower end of the range quoted by the Coal Mining Association would imply a 24% reduction in output.

Such a drop looks all but assured, according to chairman Sjahrar. Who noted that companies have stopped trying to expand production in order to keep cash flow high -- with producers now almost completely focused on making sure they have "enough cash on hand".

At the same time, Sjahrar said the Coal Mining Association is carefully watching another key trend -- plans to increase coal burning within Indonesia. Specifically, government designs that call for the construction of up to 17 gigawatts of new coal-fired power generation capacity over the next four years.

He noted that such a plan could increase domestic coal demand to as high as 250 million tonnes per year. A more than 175% increase from current demand of just 90 million tonnes.

That combination of falling production and rising local demand could see a reduction in coal exports much larger than anyone in the global market is predicting. Watch for production figures over the coming quarters to confirm the start of this possibly game-changing trend.

Here's to throwing in the towel,

Dave Forest "

[Popeye82]

Rio Tinto to continue iron ore expansion
www.miningaustralia.com.au/news/rio-tinto-to-plough-ahead-wi…

"Rio Tinto will not be swayed from the path of iron ore expansion, shareholders heard at yesterday’s AGM.

Despite accusations from government, industry and the media that Rio Tinto has intentionally contributed to iron ore oversupply to knock out high-cost producers, CEO Sam Walsh said the company would push ahead with plans for expansion of Pilbara operations.

Walsh did addressed the concerns of high-cost miners with some sympathy, but expressed that Rio Tinto would stay ahead of such pressures.




“We take no comfort in what's happening to some of the smaller, higher-cost iron ore producers that are finding it hard to compete,” he said.

“Operating in a global commodities market has always presented cyclical challenges and today's weakened market is no different.

“We don't need to just consider what is happening in Australia, we need to keep in mind what is happening around the world and that is why we are working so hard to remain one step ahead.”

Walsh said only high-return Rio Tinto projects would proceed as they grow out capacity.

“This year in the Pilbara we will continue our low-capital-cost brownfield expansions as we grow out capacity,” he said.

“This will be achieved as a capital intensity of approximately $9.00 a tonne, continuing to confirm our competitive position as the world's lowest-cost supplier of seaborne iron ore.”

Chairman Jan Du Plessis denied it was the company’s intention to flood the market or put competitors out of business.

"We have no desire to take anyone out of business, and we are highly cognisant of the fact that this period is really painful, including for our own people," he told AFR.

He also expressed that any effort to artificially affect the market by co-operation would be beyond their control due to the illegality of such a proposition.

“The idea we can be kind to each other here in Australia is not on,” he said.

“Any suggestion that we should talk to our competitors in Australia is, of course, bluntly illegal.”

“It's a breach of Australian law, and therefore not something that we will contemplate.” "

[Popeye82]

China delays flake graphite restarts , Winter conditions prolong flake graphite production slowdown; prices slide as suppliers offload inventories
www.???.com

"Much of China’s flake graphite production remains offline following a prolonged suspension of operations in many areas due to severe winter conditions.

While the closures have eased pressure on inventories that accumulated throughout 2014, weak demand and the strengthening of the US dollar led to lower prices over recent months.

A gradual increase in output is expected towards the end of Q2, which threatens to push the market into further excess over the short-term, with demand showing few signs of an immediate upturn.

Benchmark Mineral Intelligence expects tighter supply conditions later in the year, however, with China likely to ramp up its consolidation programme as the market moves towards recovery.

Although industrial demand is unlikely to instigate a recovery in demand in the near-term, greater consumption from the battery sector will prevail later in the year as major battery suppliers expand.

This growth in the emerging hi-tech markets for flake graphite will increase the chances of a supply squeeze, particularly for grades which are also used in existing industrial applications.

As this unfolds, Benchmark expects China’s raw material exports to fall as they develop downstream industries domestically. When the effects of this are felt, prices are likely to rebound in the latter stages of the year.


The changing role of China

China’s evolution from low-cost raw material supplier to downstream producer will be critical in fuelling a recovery in the flake graphite market.

In 2014, a blueprint for the consolidation of the market was laid out leading to the temporary suspension of operations in Shandong and Heilongjiang provinces and the closure of some of the most inefficient mines in these areas.

Although mines and processing plants have now been given permission to begin production again, weak market conditions saw many reduce output prior to the winter season, with the majority of miners yet to bring capacities back online.

As regional governments put further emphasis on the development of value-added industries domestically, demand from these markets will increase and supply availability to the rest of the world will fall.

If this coincides with greater demand from areas such as Japan and the US, where significant battery development projects are underway, there could very quickly be a spike in the market.

With junior projects being slowed by the decline in exploration finance and the few new market entrants, as yet, still incapable of supplying consistent product on a large scale, the market could become increasingly turbulent into 2016.


Simon Moores "

[Popeye82]

Germany "Is First to Move On This Major Oil And Gas Opportunity"
http://piercepoints.com/oil-gas-iran-germany-petroleum-sanct…

"I've discussed before how one out-of-the-way nation is shaping up as a major petroleum opportunity. And this week we got confirmation that some important global players are moving to capitalize.

The place is Iran. Where officials this week met with government counterparts from Germany -- for the expressed purpose of discussing cooperation in the oil and gas sector.


The Wall Street Journal reported that Iran's oil minister, Bijan Zanganeh, and Germany's energy minister, Sigmar Gabriel, met yesterday in Berlin. With the Iranian minister saying that "investments in Iranian oil and gas projects" were one of the primary topics of discussion -- along with German involvement in the sale and purchase of petrochemicals.

As Iran's Zanganeh summed up, "We are trying to prepare the basis for better cooperation when sanctions are lifted."

Germany declined to officially comment on the meetings. But it appears the discussions represent one of the first high-level attempts by a Western government to initiate involvement in the Iranian petroleum sector.

Of course, there's still some steps to go before such investments could be consummated. With a June 30 deadline for a nuclear deal between Iran and the West being one of the major hurdles.

Both sides however, seem to be getting ready to run with new projects should a deal be reached. In fact, Iran's energy delegation was in Berlin this week to attend a major oil and gas conference -- a further sign that the government is pushing for Western involvement in its oil and gas industry.

The prize in Iran justifies the enthusiasm. As minister Zanganeh pointed out, the country is in the world's top five in terms of petroleum reserves -- and yet only produces the same amount of oil as a lesser player like Azerbaijan.

All of which strongly suggests there's a lot of new production to be won here. Watch for the outcome of the June 30 negotiation deadline -- and any moves by Western petro-players soon afterward.

Here's to a road movie to Berlin,

Dave Forest "

[Popeye82]

AngloGold Ashanti back, to black, The miner, which is the world’s No.4 bullion producer, said unreasonable wage demands+escalating power costs in South Africa will likely push the country’s industry down the slippery slope - M.com - May 11, 2015

- Cecilia Jamasmie -
www.mining.com/anglogold-ashanti-back-to-black/?utm_source=d…

"

- AngloGold Ashanti's Vaal River operation in South Africa -


AngloGold Ashanti (NYSE:AU) (JSE:ANG), the world’s No.4 bullion producer, reported Monday it had swung to a quarterly profit thanks to its international operations, but warned unreasonable wage demands and escalating power costs in South Africa will likely push the country’s industry down the slippery slope.

The company, which is Africa's largest gold producer, will tell the Johannesburg-based unions how their demands for higher wages will translate into fewer positions and shorten the life of mines, chief executive Officer Srinivasan Venkatakrishnan told reporters on a conference call Monday.

"We cannot have year-on-year discussions on wages without any economic consequences,” he said. “That effectively creates a sunset industry for gold mining in South Africa."

Venkatakrishnan said the company’s international portfolio, which covers mines in nine countries, was "exceptionally strong" and showed the benefit of Anglo’s diversified portfolio. These operations saw all-in sustaining costs fall 13% to $849 per ounce compared with the first quarter of 2014, while production from ongoing operations was 2% higher year-on-year at 730,000 ounces.

"We’ve continued to focus on delivering real operational efficiencies and tight cost management, while ensuring we benefit from weaker producer currencies and lower oil prices. It shows in these results,” Venkatakrishnan said.

As a result, AngloGold raised adjusted headline earnings to 9 U.S. cents per share from a loss of 29 cents in the three months to end-December.

Production at Anglo’s mines in South African, however, dropped 18% to 239,000 ounces, partly as a result of safety-related interruptions at Mponeng and Vaal River mines.

Overall gold production dropped to 969,000 ounces from 1,055 million ounces a year earlier. "

[Popeye82]

It’s war! Fortescue boss calls Australians to oppose BHP, Rio iron ore plans, Forrest is blaming BHP +Rio for a fall in the price of iron ore, as the pair continue to ramp up production - M.com - May 11, 2015

- Cecilia Jamasmie -
www.news.com.au/national/big-miners-bhp-billiton-and-rio-tin…
www.mining.com/its-war-fortescue-boss-calls-australians-to-o…
www.minerals.org.au/news/forrest_playing_a_dangerous_game_on…
www.afr.com/business/mining/iron-ore/hockey-backs-fortescues…
www.mining.com/fortescue-metals-misses-expectations-vows-to-…
www.mining.com/australias-regulator-goes-fortescue-demanding…

"Fortescue Metals Group (ASX:FMG) chief executive officer and founder Andrew “Twiggy” Forrest has launched an all-out war on rivals BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO) urging Australians to demand the government intervention to stop the miners iron ore expansion plans.

In an editorial written for News.com, the head of the world's No.4 iron ore mining company said BHP and Rio were jeopardizing the economy, accusing them of “callous disregard for Australia.”

The billionaire philanthropist said that because of the reckless actions of the big iron miners he was now “being forced” to lay off more than 100 workers a day in his own company.

"These big companies say they must flood the market next year and the year after and the year after even though it will crash the price further," Forrest wrote. "Every time they say this the price falls again."

Forrest argues that for every dollar lost the economy loses A$800 million ($632m) and the government misses another $300 million ($235m) in company tax revenue. He said funding for everything from education to superannuation is, this way, being put at risk and his own work to boost universities and end Aboriginal disadvantage is being hurt.



- Fortescue Metals Group chief executive officer and founder Andrew “Twiggy” Forrest. (Image: Screenshot from interview posted on YouTube) -


He continued his aggressive call-to-arms buy asking Australians to bombard their local members of parliament and question if BHP and Rio should be allowed to even operate in the country.


Dangerous intervention

Reactions to Forrester’s renewed attack on the big miners, as expected, were quick to come. The Minerals Council of Australia said Forrest was playing a “dangerous game” by pushing for the federal government to intervene.

"There is no role for government in 'managing' the iron ore market," the industry group chief executive, Brendan Pearson, said in a statement.

He added a move like that would give "a giant free kick" to Australia's competitors, such as Brazil. “And one thing we know from commodity markets is that once given up, market share is very difficult to win back."



- FMG’s Christmas Creek mine. -


However, Treasurer Joe Hockey has backed Forrest’s call, saying he has some sympathy for him.

"I have a lot of sympathy for the workers who are losing their jobs and I've got a lot of sympathy for a number of companies that have suspended activities as a result of the fall [in prices]," he told Financial Review.

Fortescue, Australia's third biggest iron ore producer, is not an innocent victim in this ongoing war. The company has also contributed to oversupply, recently ramping up production to 164 million tonnes a year.

But at a dinner in Shanghai earlier this year, Forrest said he was "absolutely happy” to cap his production right away and that the other major players should do the same. His comments granted him a probe by the Australian Competition and Consumer Commission on whether he had breached. "

[Popeye82]

bisschen dick aufgetragen, denk ich maaahl

'Official: "This Decade's Biggest Change, In Oil +Gas" '
http://piercepoints.com/gulf-of-mexico-atlantic-ocean-alaska…

"For project developers seeking the next big petro-play, some key news this week. With lawmakers in America moving to open one of the biggest swaths of new acreage in the history of the industry.

On Tuesday, the U.S. senate introduced three bills to expand areas accessible for oil and gas drilling — targeting the eastern Gulf of Mexico, Atlantic Ocean, and the Arctic.


The Gulf of Mexico acreage would be the nearest play at hand. With this week’s bill contemplating allowing drilling in this area as early as 2017.

Atlantic drilling would follow — with that bill specifying three leasing sales to take place between 2017 and 2022. No timeline was given for Arctic drilling, which would be focused on three areas off the coast of Alaska.

These are the first concrete steps toward opening the eastern GOM and Atlantic to exploration. Which could create some big opportunities in these largely-untested waters.

Opportunities like carbonate plays in the eastern Gulf — reservoir rocks which have been theorized to hold big oil and gas pools where they occur at depth in onshore locations like Texas.

The depths to target in those areas have so far precluded any comprehensive investigation. But geological studies suggest these formations may be more accessible in the parts of the Gulf the senate is moving to open.

All of these plans of course still require full senate approval — a step that is likely to be contentious (this week Florida Representatives filed separate legislation to ban seismic testing in waters around the state). But proponents of the new bills have added economic incentives to gain support for these measures. Including enhanced sharing of royalties with states that border drilling areas.

Watch for votes on all of these bills over the months ahead.

Here’s to going east,

Dave Forest "

[Popeye82]

Sign of the times: Western Australia selling $4.100,000,000 in assets as mining revenue drops, sell-off includes the state's largest general cargo port, Fremantle
www.mining.com/sign-of-the-times-western-australia-selling-4…
www.mediastatements.wa.gov.au/pages/StatementDetails.aspx?li…
www.mediastatements.wa.gov.au/pages/StatementDetails.aspx?li…

"

- Cranes at Western Australia's major port facility in Fremantle. (Image courtesy of Fremantle Ports) -


Western Australia’s government revealed Thursday it is selling several assets, including its largest general cargo port, as the resource-rich state tries to secure up to US$4.1 billion (A$5bn) to cut debt and fund new programs.

Premier Colin Barnett and Treasurer Mike Nahan said in a statement that declining iron ore prices and spiralling debt left the WA government needing to sell more assets more aggressively than it planned a year ago. Previously the state had estimated to obtain between A$1 billion and A$2 billion a year by trickling out assets to the market.

More than half the world’s iron ore traded by sea is produced in WA, and a string of multibillion-dollar gas-export projects are in operation or under construction along the state’s coastline.

While Barnett did not say when Fremantle Port would be put up for sale, or how much he expected from the deal, he forecast a bigger than expected $2.19bn (A$2.7 billion) budget deficit for the financial year ending June 30 2016.

"The decision to pursue a sensible program of further asset sales will enable the Government to build new infrastructure to support future growth without putting further pressure on the state's finances," Barnett said.

Last year the state announced the planned sale of Utah Point bulk-handling facility at Port Hedland—one of the world’s busiest iron ore ports— and the Kwinana bulk terminal south of the state capital, Perth.

Other assets on the chopping block are government office buildings, the Forest Products Commission, government regional homes, 11,000 motor vehicles, some generation assets held by Synergy and Horizon Power, as well as a portion of the government's low-income home lender KeyStart's loan book.

Fremantle port is just one of the many Australian urban ports currently on the market, including the much bigger Port of Melbourne, which will be the last major port on the eastern seaboard to be privatized. "

[Popeye82]

Palladium Markt.

"Most Severe Market Imbalance For A Decade", In This Metal
http://piercepoints.com/palladium-gfms-supply-mining-mine-so…

"More signs this week that one metal may be a developing sleeper story. With tight supply and shifting market fundamentals coming together (quietly) to create a potential bull run.

That’s in palladium.


Platts reports that precious metals experts GFMS have just flagged a major supply shortage in the global palladium market. With the group estimating that this metal was in deficit by 1.58 million ounces in 2014.

GFMS further noted that this was one of the worst shortages in the palladium market for years. With the group calling last year’s deficit “the most severe market imbalance for more than a decade”.

Notably, analysts here estimate that the palladium market has now been in deficit since 2007. Meaning that we’ve seen seven years of demand running ahead of supply.

That’s a situation unique amongst the metals complex today. With no other commodities having seen a supply shortage running anywhere close to this length.

All of which suggests that major opportunities may be unfolding here. With tightening supply creating the potential to drive prices higher — as with the 30% gains palladium enjoyed in mid-2014, when strikes in the South African mining sector threatened one-third of world supply.

Prices have since levelled off — falling from a high of over $900 per ounce in August 2014, to a current level near $780. But any new threats to supply could trigger another run, given the precarious state of the market.

Threats like attempts by Russia to corner the market with buying through special investment funds — a strategy that’s recently been put forward by top players in that country’s mining industry (see “Is This $2 Billion Buy A Sign Of Opportunity In Palladium?” – Pierce Points: April 9, 2015).

The big question is: how to position for such a move? Toward that end, members of the Pierce Points Discovery Network will be receiving new research next week on global project opportunities in the PGM space. (If you’re not already a member of the Discovery Network, simply apply by updating your subscription preferences.)

Watch for these observations on how to profit from this undercurrent trend — and for more events affecting supply in the global palladium space, particularly in top producers Russia and South Africa.

Here’s to scarcity,

Dave Forest "

[Popeye82]

This Development "Revolutionizes Mining, In South America"
http://piercepoints.com/china-brazil-peru-railway-infrastruc…

"Infrastructure is a critical part of mining — often making the difference between profitable and pitiful projects.

And in that respect, one part of the world got a lot more interesting late last week: South America.

Particularly Brazil and Peru, which are set to get a major new rail corridor. Thanks to a massive investment from China, one of the world’s most resource-hungry nations.


The BBC reported that Chinese and Brazilian interests will construct a rail line running across the continent — all the way from Brazil’s Atlantic coast to Peru’s Pacific waters.

The project will reportedly be backed by a $50 billion commitment from banks in China and Brazil. Which will be officially signed during a visit by Chinese Prime Minister Li Keqiang to Brazil this week.

Few additional details were given. With Brazil’s undersecretary of state for Asia, Jose Graca Lima, quoted as saying that the governments would elaborate on this mega-project at the end of the Chinese visit.

If the project does indeed offer a rail link crossing from Atlantic to Pacific, it would be a game changer for miners in both Brazil and Peru — and possibly beyond.

Brazil is rich in bulk commodities like iron ore. The majority of which is currently shipped from Atlantic ports — with China being a major buyer.

The Pacific route would save considerable time in sending supplies to China. And it could also provide an outlet for mines that aren’t positioned to ship to the Atlantic coast — or which lack shipping infrastructure entirely at the moment, both on the Brazil and Peru sides.

We’ll have to wait for more details on the routing of the line to see which projects could benefit. Watch for an announcement prior to Thursday, when the Chinese delegation leaves Brazil for Colombia.

Here’s to linking up,

Dave Forest "

[Popeye82]

$90 billion: the downgraded value of forecast iron ore exports, The 2015-'16 budget has seen the government lower its iron ore price forecast, to an average of $US48 a tonne - MA - May 13, 2015

- Vicky Validakis -
www.miningaustralia.com.au/news/$90-billion-the-downgraded-v…

"The 2015-16 budget has seen the government lower its iron ore price forecast to an average of $US48 a tonne.

This is down from the $US60 a tonne that Treasury predicted the commodity would fetch when it updated its budget in December 2015.


The price cut is expected to slash around $A20 billion in tax receipts from forward estimates.

Since the last budget, the value of forecast iron ore exports has been downgraded by around $90 billion.

Most of this downgrade is from taxes paid by mining companies but there will also be an impact on taxes paid by other businesses, income tax and other sources of revenue.

The iron ore price has halved over the past year, and traded as low as $US47 a tonne in early April.

Treasury described the price drop as the “the most significant development” since the last budget and said uncertainty around demand and supply meant the iron ore price was subject to “considerable risk”.

It said the expansion of low-cost supply would continue, with 50 million tonnes of new iron ore exports in 2015.




"The continued ramp-up in 2015 will see Australia confirm its position as the single largest supplier globally," budget papers said.

Meanwhile, the government does not expect demand out of China to show a substantial increase.

The world’s biggest importer of iron ore has set a 7 per cent growth target for 2015 and budget papers predict weakness in China’s housing sector is expected to weigh on the country’s continued demand for iron ore.

"This reflects the substantial stock of unsold housing that has built up over recent years, as housing starts have consistently outstripped sale," it said.

However Treasury noted that demand from Japan, Korea and India would help to underpin iron ore’s demand.

"As its economy continues to industrialise, India has the potential to become a major destination for Australian iron ore and coal exports," it said.

During his budget speech last night, Treasurer Joe Hockey said it the government was planning “the difficult transition from a mining investment boom, to one of broader‑based growth across our economy”.

“Even in the face of the largest fall in our terms of trade in half a century, which has contributed to a significant fall in tax receipts, our economic plan has helped Australia to have one of the fastest growing economies in the developed world,” Hockey said.

"

[Popeye82]

auf der Angebotsseite wird voraussichtlich demnächst ein bisschen was auf den Markt kommen
zusätzlich
bei vollem durchziehen um die 1%, obendrauf

This "Key Uranium Player Is About to Shock, The Market"
http://piercepoints.com/uranium-nucleat-tepco-japan-stockpil…

"Things appeared to be stabilizing in the global uranium market the last several months. With prices for the metal settling into a comfortable groove between $36 and $44 per pound.

But that peace could soon be shattered, according to reports from major nuclear player Japan yesterday.


The Japan Times reported that the country’s key nuclear operator Tokyo Electric Power Co. (Tepco) is preparing to sell part of its uranium stockpiles. With documents obtained from the utility suggesting that more than 750 tonnes of uranium could be sold over the coming months.

Tepco is considering the move in order to reduce costs associated with holding ever-growing uranium stockpiles. The company has not consumed any uranium since 2011, shortly after the Fukushima disaster resulted in a complete nuclear shutdown across Japan.

That stoppage has left uranium piling up in storage, as Tepco continues to take delivery of mine supplies purchased under long-term contracts. The company now holds 17,570 tonnes of uranium — up from 16,805 tonnes prior to Fukushima.

Tepco says it wants to reduce those stocks to pre-Fukushima levels. Implying that it could divest up to 765 tonnes.

That’s equivalent to 1.69 million pounds of uranium. Or about 1% of yearly demand worldwide — suggesting that this divestment alone shouldn’t be a showstopper for prices.

But Tepco also said it may take further steps to reduce its uranium stocks — including terminating uranium purchase contracts it currently holds with miners globally.

Such a development would represent a significant reduction in demand. And might be enough to cause a drag on the global market.

The firm said it is looking to make all of these moves by the end of the fiscal year, this coming March. Watch for news about stockpile divestments, and purchase contracts cancellations coming soon.

Here’s to clearing out the clutter,

Dave Forest "

[Popeye82]

They're Creating A $16,000,000, Fund For Gold Mining... Ooonly Heeeeere
http://piercepoints.com/gold-mining-silk-road-china-investme…

"One of the world's largest sources of funding for gold miners was announced this weekend. But you have to be in the right part of the globe to grab a piece of the investment cash.

China announced that it is leading a massive fund-raising for gold projects. With the country's Shanghai Gold Exchange (SGE) expected to help create a pool of capital totaling 100 billion yuan -- or about $16.1 billion dollars.

The news came at a major trade and investment forum in China's northwest Xi'an City. With officials from China's Industrial Fund Management Company here saying that the billion-dollar fund will investment in gold miners operating in one specific geographic area.

The Silk Road.

This obscure-sounding area was outlined by Chinese officials last summer as a major zone of economic focus for the country. As the image below shows, China's "Silk Road Economic Belt" (along with the southern "Maritime Silk Road") stretches from China itself in the east, all the way to Italy in the west.




Some 60 countries from the Silk Road will reportedly invest in the new gold fund. With the stated goal being to fund gold miners in order to obtain bullion for central governments here.

The fund is also part of a plan to "increase the influence of [Chinese currency] RMB in gold pricing", according to Chinese officials.

The key question is: which gold projects could receive funding from this new vehicle? Officials for the fund specifically mentioned countries such as Afghanistan and Kazakhstan as potential targets. But there are certainly more countries in the belt that could be sources of bullion production.

Beyond the Stans, important mining nations on the Silk Road include Iran and Turkey. And even spots like Serbia further west.

Indonesia and India are also well-positioned on the maritime route. And even a further afield place like Kenya might get attention for gold.

Whatever the case, if the fund does get raised, this is going to be a leading source of mine financing. Watch for more announcements on the completion of the $16 billion investment vehicle.

Here's to the yellow brick road,

Dave Forest "

[Popeye82]

Antwort auf Beitrag Nr.: 49.845.376 von Popeye82 am 26.05.15 03:40:57

They're Creating A $16,000,000,000, Fund For Gold Mining... Ooonly Heeeeere

[Popeye82]

Antwort auf Beitrag Nr.: 49.835.768 von Popeye82 am 23.05.15 00:16:31

One step forward, two steps back for uranium: report - TG&M/M.com/JT/DCM, TOKYO - May 24, 2015

- Andrew Topf -
www.theglobeandmail.com/globe-investor/investment-ideas/rese…
www.mining.com/one-step-forward-two-steps-back-for-uranium-r…
www.japantimes.co.jp/news/2015/05/19/business/corporate-busi…
www.mining.com/japan-not-allowed-restarting-nuclear-plant-84…

"Uranium investors are being urged to exercise caution in the short term due to three events which could affect the prices of the nuclear fuel and the companies that mine it, according to a recent report by Dundee Capital Markets.

The three catalysts, says the report by three sector specialists at Dundee, relate to the highly significant restarts of Japanese nuclear reactors shut down after the Fukushima accident in 2011, and the activities of Japanese electric utility TEPCO.




Regarding TEPCO, there are media reports saying that TEPCO wants to sell some of its uranium inventory in order to cut costs and to counteract uncertainty over the restart of idled nuclear plants. The sales could represent 15 percent of spot volumes, or 3 percent of the total amount of uranium traded last year, with many fearing that is enough to flood the market and put downward pressure on the price. However, Dundee counters that while the market may see a short-term impact, "mine production is well short of reactor requirements."

The second driver that could affect the market negatively, is a recent decision by a Japanese court forbidding Kansai Electric Power (TSE:9503) from carrying out a plan to restart two idled nuclear reactors at Ohi north, near Osaka, because of their vulnerability to earthquakes.

The two reactors at issue in the suit, at Ohi power station, were restarted temporarily in 2012 and remain the only units in the country to have been put back in use after Fukushima. But they were taken offline again in September last year for maintenance.

The decision means the reactors will have to stay offline until Kansai Electric Power can prove to the court they are safe. According to Dundee, the news will affect investor sentiment more than demand, and "We also expect lawsuits and injunctions to be normal course of business going forward."

The one positive uranium driver, as stated in the report, has to do with the approval of a fifth nuclear reactor and third nuclear power plant for restart. Dundee states that investor sentiment will be improved by the granting of safety approval for Shikoku's Electric Power Co.'s Unit 3 at Ikata nuclear station in Ehime prefecture, after the plant enhanced safety measures to protect against earthquakes and tsunamis. Unit 3 is expected to startup in early 2016.

For investors, Dundee predicts short-term weakness in the uranium spot price and uranium stocks, and therefore recommends producers with fixed-price contracts, including Ur Energy (TSX:URE), Uranerz Energy (TSX:URZ), Energy Fuels (TSX:EFR) and Cameco (TSX:CCO). The firm advises to stay away from Paladin Energy (TSX:ASX:PDN) and sees uranium explorers as largely unaffected due to their longer time horizons. "

[Popeye82]

Cameco Declares Commercial Production @Cigar Lake - U308.biz - May 26, 2015

- Kristen Moran -
http://www.u3o8.biz/s/MarketCommentary.asp?ReportID=709521&_…

"After some difficulties reaching its operating targets at the Cigar Lake mine in Northern Saskatchewan, Cameco (TSX:CCO,NYSE:CCJ) announced Friday that the operation was in commercial production as of May 1.

While the news could be considered business as usual, it's worth recognizing given all the challenges Cameco has overcome as operator of the mine, which President and CEO Tim Gitzel has dubbed one of "the most technically challenging mining projects in the world."

One of the reasons Cigar Lake is so challenging is that the deposit is located between 410 and 450 meters below the surface in the Athabasca Basin, where water-saturated sandstone meets with the underlying basements rocks. As Zimtu Capital analyst Derek Hamill told The Energy Report last year, "the entire deposit needs to be frozen in order to prevent flooding," and that has had its own set of challenges.

For example, the process of freezing the ore zone and surrounding ground by circulating a brine solution through cased holes drilled both at surface and underground has been used to prevent water from entering the production areas and to help stabilize weak rock formations. But while this process has proved to be a viable solution, the company hit a minor snag this past July when the freezing took longer than expected --- ultimately, Cameco had to halt activity at the mine just months after its March 2014 start date.

At the time, the company said in a press release, "[g]iven that the McClean Lake mill has not yet started processing Cigar Lake ore, we have decided to temporarily stop jet-boring at Cigar Lake to allow the ore body to freeze more thoroughly in these areas. The additional freezing will allow more continuous production at the mine once the mill is operational." Mining at Cigar Lake resumed at the beginning of September 2014, with ore being delivered to the McClean Lake mill for processing.

Those issues make the news that Cigar Lake is now in commercial production encouraging. According to Cameco, the operation remains on track to achieve its annual production target of 6 to 8 million packaged pounds of uranium for the year. Its long-term production target of 18 million pounds by 2018 also remains in place, and market watchers will no doubt be looking to see whether activity at the mine will now proceed as planned.

At end of day Monday, Cameco's share price was up 1.33 percent, trading at C$19.04.


Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article.

Related reading:

Cameco Inks 7.1-million-pound Uranium Supply Agreement with India

Cameco's Uranium Sales Deal with India in Final Stages "

[Popeye82]

scheint mir nicht megaüberraschend
ähnliche Initiativen könnten vielleicht auch noch in anderen Bereichen, des gleichen Sektors, anstehen, oder auch ganz anderen, Branchen



New global diamond consortium formed, The world’s major diamond miners have gathered to form a global group, focused on the development of the sector - MA - May 29, 2015

- C. Latimer -
www.miningaustralia.com.au/news/new-global-diamond-consortiu…

"The world’s major diamond miners have gathered to form a global group focused on the development of the sector.

The newly named Diamond Producers Association (DPA) brings together ALROSA, Rio Tinto, De Beers, Lucara Diamond Corp, Petra Diamonds, Gem Diamonds, and Dominion Diamond Corp.


Housed in London, the DPA is focused on driving consumer demand in the sector, “including joint category marketing initiatives; providing a reliable source of industry information, including trade and consumer research; acting as the unified voice of the diamond producers, when required and/or appropriate, with industry and non-industry forums/organisations; communicating the role and contribution of diamond producers to the diamond sector and broader society; and sharing best practices in health and safety, license to operate, supply chain integrity and environment management”.

The association has an initial budget of US$6 million to begin operations.

“The companies believe that the DPA will play an important and positive role in the diamond sector and will actively engage with industry and non-industry organisations to promote the interests of the sector,” it said in a company statement.

It stated that it would operate in compliance with applicable competition and antitrust laws.

The DPA will focus on the commissioning of research to build a targeted activity plan for the coming three years. "

[Omut]

Meine Meinung nach ist es ganz günstig in Agro investieren. Ganz große und qualitative Fläche sind in der Ukraine. Und zurzeit sind Fläche in der Ukraine ganz billig. Man versucht ertwas interessantes für sich selbst per www.investment-ua.com finden. Ich habe mit Sadko Consulting gearbeitet und sie haben mir ganz viele Projekte in Landwirtschaft angeboten. So wenn Deutschland hat Geld, aber hat keine Fläche, warum nicht investieren? Die beste ukrainischen Ressourcen sind Boden. Darum muss man das nutzen.

[Robert_Reichschwein]

Antwort auf Beitrag Nr.: 49.886.350 von Omut am 01.06.15 09:00:18

das ist eine gute Idee

nicht nur der fruchtbare Boden, auch die seit 1986 teilweise erhöhte Radioaktivität der Böden begünstigen das Pflanzenwachstum

da wurden schon kindskopfgrosse Tomaten geerntet!

wie wahr ist doch der Werbespruch der 60iger Jahre:

Atomkraftwerke bringen uns eine strahlende Zukunft!

[Omut]

Antwort auf Beitrag Nr.: 49.886.653 von Robert_Reichschwein am 01.06.15 09:42:36

Also, Atomkatastrophe 1986 war nicht in der ganzen Ukraine. Und erhöhtes Radioaktivitätsniveau war nur in einigen Gebieten. Seit fast 30 Jahre Radioaktivität in der Ukraine ist innerhalb des Normalbereichs. Der gröste Teil von Radioaktivität bekommt Weißrussland.

[Robert_Reichschwein]

es gibt immer noch radioaktive Belastung der Böden in der Ukraine, der Fallout war ziemlich unregelmässig

gibt es Karten dazu

http://www.tschernobyl-hilfe.de/Weissrussland/Tschernobyl/Ka…

(Interessant, die Verteilung der Radioaktivität sieht von oben wie ein Schilddrüsenszintigramm aus, Schilddrüsen sind vorrangig auch von der Radioaktivität betroffen)

es gibt auch genauere Karten

selbst im Gebiet nördlich von Lutsk nicht weit von der polnischen Grenze gibt es Flecken mit Zone 2,also erhöhte Radioaktivität im Boden wo man keinen Ackerbau betreiben sollte

Weissrussland ist stärker betroffen, aber der dortige diktator passt schon auf dass auf radioaktiven Böden nichts angebaut wird (behauptet er jedenfalls)

die dort von privat gesammelten Pfifferlinge werden dann von den Polen als 'Pilze aus Litauen' an die deutschen Supermärkte verkauft

hoffen wir mal dass der deutsche Zoll da gut kontrolliert!

[Popeye82]

Indonesia to assess future, of coal mining sector
www.mining-technology.com/news/newsindonesia-consolidate-coa…

"Indonesia is set to consolidate its coal mining sector after reviewing local mines, which are not certified as clean and clear.

Said to be applicable only to the IUPs, the review excludes larger and older-generation firms with so-called contracts of work, Reuters reported.


At the 21st Coaltrans Asia conference in Bali, Indonesia, Mining and Energy Minister Sudirman said the country plans to withdraw licenses of more than 4,000 that have not met certain standards.

Sudirman told Platts: "There are more than 10,000 mines, which are IUPs or Izin Usaha Pertambangan [producers who are not directly under the government], and nearly 40% of them do not have clean and clear certification."

Indonesia exports an estimated $2bn of coal monthly and intends to gain more revenue from the mining sector.

Indonesian Coal Mining Association chairman Pandu Sjahrir did not mention any timeframe for the consolidation process.

According to Sudirman, around 6,000 of the newer mining licenses from the total 10,100 issued had been certified as complying with government rules.

The minister added that there are currently 960 coal firms at production stage.

Said to be IUP permit holders, around 900 of them contribute approximately 80 million tonnes.

The investment coordinating board (BKPM) will take over the licencing from the ministry in 2015. "

[Popeye82]

Warren Buffett to Help Fund International Uranium Fuel Bank - U3O8.biz/NTI/R/IAEA/HSA, WASHINGTON - Jun 11, 2015

- Charlotte McLeod -
http://uraniuminvestingnews.com/22258/international-uranium-…
www.iaea.org/OurWork/ST/NE/NEFW/Assurance-of-Supply/document…
www.u3o8.biz/s/MarketCommentary.asp?ReportID=711897&_Type=Ma…
www.nti.org/newsroom/news/iaea-board-approves-fuel-bank/
www.iaea.org/newscenter/news/iaea-moves-ahead-establishing-l…

"Well-known American investor and philanthropist Warren Buffett turned heads on Thursday when it was confirmed that he'll be helping to fund an international low-enriched uranium (LEU) fuel bank set to open in Kazakhstan in two years.




According to Reuters, Buffett, together with the US-based Nuclear Threat Initiative (NTI), will donate $50 million to the project, with another $100 million coming from the European Union, Kazakhstan, Kuwait, Norway, the United Arab Emirates and the US.

Buffett is an advisor to the NTI, and their joint $50-million commitment was first announced back in 2006, according to a NTI press release put out Thursday. However, it was contingent on the International Atomic Energy Agency (IAEA) receiving a further $100 million in two-to-one matching funds, a condition that wasn't met until three years later.

It then took until 2010 for the IAEA to sign off the bank's establishment, and until 2011 for Kazakhstan to express an interest in hosting the fuel bank. In the four years since then, the IAEA has been working out hosting details with Kazakhstan, finally granting operating approval this week. This week also saw the IAEA approve an agreement with Russia for the transport of LEU to and from the fuel bank.

"The conclusion of the two agreements, with today's approval by the Board of Governors, represents a significant milestone for this important project, enabling us to proceed to full-scale implementation," said Yukiya Amano, director general at the IAEA.


Whyyyyy a fuel bank?

Reuters states that the fuel bank will house LEU that can be used by IAEA member countries in the event of a disruption in the commercial market.

However, those in favor of the fuel bank also see it as a way to deter countries from "building enrichment facilities that might be misused to purify uranium to weapons-grade levels." The issue is that LEU, or uranium that's been enriched to a fissile purity of about 5 percent, can be further enriched to around 90 percent, and at that level becomes weapons-grade material --- concerns have long been rife that Iran will do just that. The idea is that the fuel bank will stop IAEA member countries from developing their own enrichment capacity in the event of a disruption in LEU supply. In turn, that will decrease the risk of proliferation of nuclear material.

In terms of how much uranium the fuel bank will be able to hold, the IAEA states that it will have the capacity for 90 metric tons of LEU, "sufficient to run a 1,000 MWe light-water reactor." Reuters notes that of the 438 operational reactors across the globe, about 350 are light-water reactors. The type of light-water reactor described by the IAEA could power a large city for three years.

The bank will be located in Northeastern Kazakhstan at the Ulba Metallurgical Plant in Oskemen. Though it will be owned and controlled by the IAEA, it will be operated by Kazakhstan. The $150 million provided by Buffett and the other contributors will be enough to establish the fuel bank and run it for at least 10 years.


Investor takeaway

Commentary from those in the uranium space has been minimal thus far, but in a note to clients Thursday Rob Chang of Cantor Fitzgerald did give a brief statement. He stated, "[t]his is the type of news that gets media attention and the attention of retail investors --- thereby adding credibility to the space and making nuclear power (and uranium) closer to a front page story."

With the uranium price still languishing around $40 per pound U3O8, any positive attention is likely to be welcome news for those in the space. It will be interesting to see further reactions as news of the fuel bank spreads.


Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article. "

[Popeye82]

Highlights from Cantor Fitzgerald's 2nd Annual Global Uranium Conference


"Cantor Fitzgerald's second annual Global Uranium Conference, held in New York on June 4, featured a lineup of noteworthy uranium companies, from global producers to exploration companies. Following the event, the Investing News Network had a chance to catch up with senior analyst Rob Chang to get a rundown of how it went.

"We were very happy with it. There were more attendants," Chang said. "It seems like there is definitely more interest, and there is a lot more active interest in learning about it."

He said in general the sentiment of attending companies was positive, which is refreshing considering the current uncertainty in the market. "Everyone was pointing to the upcoming supply/demand deficit --- when it is going to occur and how they are positioning themselves for that recovery. Depending on who the company is, they may be more conservative than others, but generally speaking it is about managing the businesses properly in advance of future growth," Chang explained.


Looking forward, to deficit

Companies at the conference estimate that a uranium deficit will come sometime in the early 2020s, while analysts think it will happen between 2018 and 2021. While nobody can predict exactly how high the uranium price will get when the deficit does come, Chang said he expects an increase similar to what was seen in the mid-2000s.

"We are going to see it jump $5 to $10 every week, like we saw before, because it just has to happen that way. I'm not sure exactly when this will happen, but there frankly is just not enough supply. It's a very thin market, and once you get two, three, four utilities trying to buy at the same time, you are going to see large jumps."

According to Cameco (TSX:CCO,NYSE:CCJ), one reason a deficit is expected is that US utilities' requirements are expected to open up after 2016. Corroborating that claim, speaker Scott Melbye cited US Department of Energy data that shows that US utilities' requirements will be "substantial" in 2017 and 2018. Even today he said he is seeing many US utilities --- and their counterparts in Europe and Asia --- in the market for spot uranium.


More uranium needed

Looking at exactly how much will be required when the deficit hits, Cameco said that the world will need four more Cigar Lakes. That project is expected to reach 18 million pounds of uranium production annually at its peak, and at this point no other projects come close.

"That is the reason we see a price hike has to happen," said Chang, adding, "if you look out to all the ones that have been identified, that have any reasonable chance ... it's fairly limited. The only ones that have a decent size and that can produce say 5 to 10 million pounds annually is maybe what Fission Uranium (TSX:FCU) has in Patterson Lake South (PLS), likely what NexGen Energy (TSXV:NXE) has once their resource estimates come out. Then you're looking at what (TSXML,NYSEMKTNN) has at Wheeler River with the Phoenix deposit and maybe UEX (TSX:UEX). But these last two are 60 to 70 million pound projects and that's it. Cigar Lake is multiple hundreds of millions, and I think that Fission's PLS and NexGen's Arrow may get there. Combined they definitely will be. But that's it. Once you start looking at the available projects out there, you are looking at Africa, where they have 200-million to 300-million-pound projects."

That said, Chang pointed out that considering the cost of producing in Africa, the uranium price would need to reach the $80 mark in order for miners to turn a profit there.


Geopolitical issues

On a different note, Melbye highlighted a few possible geopolitical events that could have a significant effect on the uranium market. For instance, Russian sanctions, which until now have mostly affected oil and gas relationships, are now shifting closer to the nuclear fuel market. Then there is the Islamic extremism, which is impacting Niger, the fourth-largest uranium producer. Al Qaeda-inspired Tuareg rebels operating in the Southern Sahara have attacked Areva's (EPA:AREVA) operations there, and employees have been killed and kidnapped.

Aside from that, Chang believes one of the scarier issues is the possibility of Russia "decid[ing] to become imperialistic and take Kazakhstan, like they have effectively done with Crimea and the Ukraine. That would be a huge issue if that actually happened. Will it spark something bigger is going to be a key question and an interesting question because both China and the US would definitely care," he said.


Companies that presented

The presentation schedule at the conference was packed with promising exploration companies as well as producers, and a post-conference summary from Cantor Fitzgerald provides a rundown of what each one highlighted during the talks. Chang said that his firm likes the entire uranium space right now, but its top pick is NexGen as it has the most upside.

"We are really looking forward to their upcoming assay results, 44b in particular," Chang said. "The scintillometer results they reported are impressive --- it's huge, and that usually translates into a very strong assay results, and that is what most people can recognize. We are expecting this one particular hole is going to be among one of the best ever drilled by any uranium company anywhere. And it is going to significantly increase our estimate of the Arrow zone. It is already sitting at 90 million pounds in our estimate, and that is very large."

Another notable company is Uranium Energy (NYSEMKT:UEC), which recently expanded the boundaries of its Palangana mine. The company is also advancing its Yuti ISR project in Paraguay from the exploration phase to the exploitation phase.

As mentioned, Cameco also presented at the show, highlighting that it's reached official commercial production at Cigar Lake. Fission Uranium was another presenter, and considering all the promising drill results the company has released in recent months, it had plenty of strong points to talk about at the conference. Ur-Energy (TSX:URE,NYSEMKT:URG) highlighted its recently announced resource update, which yielded a net increase of 2.498 million pounds, and said it will be following up with another update on the resource in either the third or fourth quarter.

Other companies that presented were Denison Mines, Uranium Participation (TSX:U) and Paladin Energy (TSX:PDN,ASX:PDN).


Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article. "

[Popeye82]

Antwort auf Beitrag Nr.: 49.941.915 von Popeye82 am 09.06.15 18:52:54

Indonesia pushing to consolidate coal industry, Indonesia is taking action to strengthen its coal industry by cutting smaller operations, as the market continues to decline - MA/R - Jun 15, 2015

- C. Latimer -
www.reuters.com/article/2015/06/08/indonesia-coal-idUSL3N0YU…
www.miningaustralia.com.au/news/indonesia-pushing-to-consoli…
www.conventuslaw.com/indonesia-regulation-curbs-power-of-loc…
www.miningaustralia.com.au/news/chinese-government-to-shut-2…

"Indonesia is taking action to strengthen its coal industry by merging operations, as the market continues to decline.

The country is reportedly considering revoking more than 4000 mining licences to remedy the issue, according to Reuters.


"At the end of the day it's about equilibrium," Sudirman Said stated at a coal conference in Bali last week.

“This month we will decide whether the permits will be revoked," Coal Enterprise director Adhi Wibowo added.

Said went on to state the country had issued around 10,100 All Mining Licences known as IUPs, but only around 6000 of these had been certified as complying with government rules, and has created a butting of heads between the government and local regents.

There are reportedly around 960 coal mining companies in Indonesia, however around 900, all IUPs, produce only about 20 per cent of the nation’s total output.

These operations also have issues regarding overlapping permits and unpaid royalty payments.

The larger operators, such as Bumi Resources, are unlikely to be affected as these businesses are often on Contracts of Work agreements.

"This is the perfect time to consolidate," Said stated,

"We will create opportunities for players who are serious, who want to invest and who always comply with government rules."




These licences will be handed to an investment co-ordinating board.

This is reportedly the first steps in the direction of the earlier issues Minister of Energy and Mineral Resources (MEMR) Regulation No. 27 of 2013, which was brought into to control a rapidly growing domestic industry.

Said noted that these IUP number jumped during the mining boom.

“We enjoyed huge profits that were ab normal. Abnormal money drives abnormal behaviour.”

In addition to this consolidation, the government is also cracking down on local regents’ authority to issue IUPs.

“Rather, the sole authority to issue IUPs for mining companies having a mining area located in just one province was vested to Governors, while the MEMR has the authority to issue licenses for mining companies having a mining area located in more than one province and for PMA mining companies,” Florence Gracia Santoso, a lawyer from Soewito Suhardiman Eddymurty Kardono SSEK Indonesian Legal Consultants explained.

And despite permits being revoked and the consolidation of operations “regents’ authority to issue IUPs remains unchanged under the 2009 Mining Law,” Santoso added.


“Sooooo, there is a conflict between the Mining Law and the Regional Governance Law. While it remains to be seen how this conflict will be resolved there is talk that the 2009 Mining Law will be amended to revoke the authority of Regents to issue IUPs.”

China took similar action last year in an effort to buoy their industry against the worst of the coal downturn, closing and consolidating smaller coal mines as part of the nation’s latest five year plan. "

[Popeye82]

seite20

ENRC suspends world’s largest cobalt metal refinery
http://benchmarkminerals.com/benchmark-q2-2015.pdf

[Popeye82]

US Gov’t offers $20,000,000 to projects, aimed @recovering rare earths from coal, The National Energy Technology Laboratory(NETL) has been investigating the economic feasibility of recovering the coveted elements from coal - M.com/NETL/DOE - Jul 1, 2015

- C. Jamasmie -
www.mining.com/us-govt-offers-20-million-to-projects-aimed-a…

"


The US Department of Energy (DOE) has set aside about $20 million to fund projects aimed to quickly develop bench scale and pilot scale plans for recovering Rare Earth Elements (REE) from coal and coal by-products.


Last year, the National Energy Technology Laboratory (NETL) begun investigating the economic feasibility of recovering the coveted elements — used as ingredients in magnets, batteries, catalytic converters and high-tech products—from coal.

And while it has already characterized a number of REE-bearing samples, the new initiative seeks to speed up related research.

The move comes on the heels of a major shake-up in the US rare earths market, following Molycorp’s (NYSE:MCP) decision to file for bankruptcy protection last week.

The U.S. only miner and producer of rare earths Chapter 11 filing marked a sharp reversal of fortunes for a company that rode a boom in rare earths, amid a wider surge in commodities prices. Fuelled by restrictions on exports of rare earths by China, the world’s dominant supplier, Molycorp’s market value rocketed to over $6 billion five years ago.

Shortly after, however, China loosened its rules, and battery and magnet makers found alternatives to rare earths, sending Molycorp finances down the slippery slope. The company, in fact, hasn’t turned a profit since 2011.

The prices for these elements, considered a strategic resource because they are used in military electronics, have been particularly hard-hit in the commodities rout. Prices for most rare earths have fallen over tenfold since their 2010 peaks, and the total market is now around $1 billion, down from over $17 billion.

The grant could eventually help the U.S. ailing coal industry. Local producers are battling not just government regulators but cheaper natural gas, which in April surpassed it for the first time as the primary source of electricity generation in the U.S.

"

[Popeye82]

Western Australia +CSIRO launch new research project, to extend life of major mines - MT/WA/CSIRO/MRIWA - Jul 2, 2015
www.mining-technology.com/news/newswestern-australia-csiro-l…

"The Western Australia (WA) Government has partnered with key gold industry players and the Commonwealth Scientific and Industrial Research Organisation (CSIRO) to launch a new research project to extend the life of major mines.

The $1.685m project is also aimed at revealing sites for new operations.


WA mines and petroleum minister Bill Marmion launched the Pathways To High-Grade Ore: 3D Gradient Mapping Of Mineral Systems at Kalgoorlie-Boulder's Kanowna Belle gold mine.

According to Marmion, the research project will be carried out for a period of 12 months.

Marmion said: "This is an ideal time to build on current gold sector activity, by using our world-leading science to target known gold-rich zones.

"Mining companies are helping sponsor the project because prolonging the life of proven operations is very cost-effective, especially when it comes to job security."

By evaluating the Earth's crust, the Pathways project will develop 3D modelling of gold-bearing systems focusing on important Eastern Goldfields geological faults.

The project will receive $395,000 grant from the state government's Minerals Research Institute of Western Australia (MRIWA).

Five gold producers are also contributing for the project.

Marmion added saying that the latest research will also help point the way to new discoveries in greenfields areas such as the Yamarna greenstone belt located east of Laverton.

For the project, the CSIRO will provide sample preparation and analysis, data processing, scanning electron microscope analytics, as well as 3D modelling. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.102.298 von Popeye82 am 03.07.15 01:11:28

"Die in Deutschland beheimatete Firma entwickelt unkonventionelle Verfahren zur Gewinnung Seltener Erden aus Sekundärlagerstätten.
Das Geschäftsmodell basiert auf dem Ansatz, mit der Aufbereitung seltenerdenhaltiger Industrieabfälle die Bergbaukosten vollständig zu eliminieren. Durch innovative Technologien soll ein qualitativ hochwertiges Seltenerden Mischoxid produziert werden, das an Raffinerien weiter verkauft wird.
Auf die Produktion von Seltenerden Endprodukten wird bewusst verzichtet, da diese sehr kapitalintensiv und mit erheblichen operativen Risiken behaftet ist. Auf diese Weise reduziert Ceritech maßgeblich das Geschäftsrisiko, kann aber dennoch akzeptable Margen generieren. Mitgründerin der Gesellschaft ist die Deutschen Rohstoff AG, die derzeit 61,4% an Ceritech hält.
www.german-startups.com/index.php/ueber-uns/
http://ceritech.com/#pl_areau6qshae "

[Popeye82]

Iron ore hits record low, of $US44,10 - MA - Jul 9, 2015

- V. Validakis -
www.miningaustralia.com.au/news/iron-ore-hits-record-low-of-…

"Iron ore is trading at a record low of $US44.10 per tonne after crashing 11 per cent overnight.

This is the lowest price for iron ore on record, eclipsing the previous low record it set in April of $US46.70 per tonne.


The dramatic fall means most Australian iron ore miners are now unprofitable.

BC Iron is forecast to have a break-even price of $US52 per tonne, while Arrium’s break-even price is estimated at $US51 per tonne.

Atlas Iron has a break-even price of US$50 per dry metric tonne.

The new low is also set to test Fortescue Metals Group’s price point of $US44 per tonne.

Analysts do not expect the price to improve anytime soon as China’s stock market suffers a massive hit.




More than 30 per cent has been knocked off the value of Chinese shares since mid-June, this equates to around $3.4 trillion in equity value wiped from the market.

500 China-listed firms announced trading halts on the Shanghai and Shenzhen exchanges on Wednesday in a bid to ride out the market slump.

Some analysts are likening China’s stock market fall to the Great Crash of 1929, with the effect of the downturn to be widely felt.

“The ripple effect from the market correction has yet to show up," wrote Bank of America Merrill Lynch analysts in a note.

"We expect slower growth, poorer corporate earnings, and a higher risk of a financial crisis." "

[Popeye82]

Science breaks new ground in converting coal ash from pollutant to useful products, New technology is turning toxic fly ash into something useful for operators - MA - Jul 10, 2015

- Leslie Petrik -
www.miningaustralia.com.au/features/science-breaks-new-groun…

[Popeye82]

Prepare for flood of copper concentrate - M.com/ICSG - Jul 15, 2015

- F. Els -
www.mining.com/prepare-for-flood-of-copper-concentrates/?utm…
www.icsg.org/index.php/component/jdownloads/viewdownload/170…

"

- Tintaya concentrator Peru. Source: Glencore -


Global copper production capacity at mine level through 2018 is expected to grow at an average annual rate of 6% to reach 27.4 million tonnes (mt) a year in 2018, according to a new report by the International Copper Study Group.

In its bi-annual directory of copper mines and plants, the Lisbon-based research group said concentrate output will represent more than 80% of the expansion with production jumping by 4.8mt to 21.7mt in 2018.

More than 900,000t of solvent-extraction/electrowinning capacity will be added over the same period to reach 5.7mt capacity.

Compared with ICSG's previous estimate published in January, anticipated annual mine production capacity for 2017 and 2018 was revised down slightly by 330,000t and 140,000t, respectively, owing mainly to continued delays for many projects.

"Peru is projected to account for 26% of the additional capacity from new mine projects and expansions through 2018, followed by Zambia, Mexico, Mongolia, China and the Democratic Republic of the Congo," the ICSG said. "Together these six countries will represent 66% of the world growth."

Projects are also being planned in countries that currently do not mine copper, including Afghanistan, Ecuador, Ethiopia, Fiji, Greece, Israel, Panama, Sudan and Thailand.

"By 2018, total expected copper production capacity from projects starting in these new copper mining countries could reach 150,000t/year, and capacity could continue to increase well above 1mt/year if projects planned beyond 2018 in these countries are developed," ICSG analysts said.

Concurrently, production from countries that started mining copper in the last decade is expected to increase to 550,000t/year by 2018 from only 4,000t/year in 2003.

Annual copper smelter capacity growth is forecast to lag behind mine output expansion, growing an average 3.1%/year to reach 22.5mt/year in 2018, an increase of 2.6mt or 13.1% from 2014.

"China is continuing to expand its smelting capacity and will account for 60% of the expected world growth through 2018," ICSG said. "China's copper smelting capacity increased by around 4.4mt/year in the 2000-2014 period and is expected to increase by a further 1.6mt/year by 2018.

ICSG tabulations indicate that world copper refinery capacity will reach 30.2mt/year in 2018, an increase of 2.9mt/year or 10.6% from 2014. "

[Popeye82]

Gold hits five year low
www.miningaustralia.com.au/news/australian-gold-stocks-take-…

[Popeye82]

Antwort auf Beitrag Nr.: 50.147.817 von Popeye82 am 09.07.15 11:51:19

BHP Billiton sets new iron ore production record - MA -Jul 22, 2015

- V. Validakis -
www.miningaustralia.com.au/news/bhp-billiton-sets-new-iron-o…

"BHP Billiton has posted a 14 per cent rise in iron ore production to set a new record.

The company produced a record 233 Mt for the 2015 financial year, and expects this to increase by six per cent in the 2016 financial year to 247 Mt.




BHP said Western Australia Iron Ore (WAIO) production of 254 Mt represents a fifteenth consecutive annual record and was underpinned by continued improvement in the performance of the company’s integrated supply chain and the successful ramp-up of the Jimblebar mining hub.

Record sales volumes out of WAIO of 256 Mt was attributed to optimisation of the port facilities and an increase in direct to ship ore.

BHP has spent millions at WAIO in recent years, turning its attention away from major supply chain investment to productivity, cost reduction and capital efficient growth.

As a result, WAIO production for the 2016 financial year is forecast to increase to approximately 270 Mt as a result of improved processing efficiency at Mining Area C and Newman.

BHP said further productivity improvements are expected to contribute to an increase in system capacity to 290 Mtpa over time.

The company said unit cash costs at WAIO are expected to fall to $US16 per tonne in the 2016 financial year.

In full-year 2015, BHP revealed the average realised price for its iron ore was $US61/wmt,FOB.

In copper, BHP announced up to $US650 million of impairments due to writedowns and redundancies.

Total copper production for the 2015 financial year was unchanged at 1.7 Mt which the company attributed to a strong operating performance from Escondida.

Copper production is forecast to decrease by 12 per cent in the 2016 financial year to 1.5 Mt.

Olympic Dam copper production for the 2015 financial year decreased by 32 per cent to 125 kt following an electrical failure which caused a mill outage in January 2015.

BHP said the mill safely resumed operation in June 2015, ahead of schedule, and is expected to be fully ramped up by the end of July 2015 with an associated increase in full year production anticipated.

The average realised price for copper for FY15 was $US2.78 per pound.

In metallurgical coal, BHP posted a production increase of 13 per cent to a record 43 Mt.

The company said record production and sales volumes at Queensland Coal in the 2015 financial year were supported by the successful ramp-up of the Caval Ridge mine and continued productivity improvements.

Meanwhile, an increase in equipment and wash-plant utilisation rates underpinned record volumes at six other operations.

Production is forecast to decrease in the 2016 financial year to 40 Mt as a result of the closure of Crinum mine. The mine is expected to close in the first quarter of 2016.

In energy coal, production decreased by 5 per cent to 41Mt.

The average realised price for hard coking coal in FY15 was $US105/t, while BHP received $US58/t for its thermal coal in FY15.

Minerals exploration expenditure in the 2015 financial year was US$267 million.

BHP said greenfield minerals exploration is focused on advancing copper targets within Chile, Peru and the South-West United States. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.237.403 von Popeye82 am 22.07.15 05:07:03

nicht nur Rio Tinto

Vale sets iron ore production record - MA - Jul 24, 2015

- Vicky Validakis -
www.miningaustralia.com.au/news/vale-sets-iron-ore-productio…

"Vale, the world’s biggest iron ore miner, has posted a record-breaking June quarter of iron ore production.

Vale produced 85.3 million tonnes of iron ore in the second quarter, 7.4 per cent more than the same period last year, and the second-highest ever for the company.




Production of iron ore in the first half of 2015 reached a new record of 159.8 Mt, 9.3 Mt higher than in the first half of 2014.

Vale plans to produce 340 million tonnes of iron ore this year as it wins the battle for market share over BHP Billiton and Rio Tinto.

Earlier this month, Vale announced plans to cut 25 million metric tonnes of high cost iron ore from its portfolio, replacing it with low-cost supply.

Vale’s executive director, Peter Poppinga, says the decision is based on predictions that the iron ore market will remain oversupplied into 2016.

The company is also the world’s largest producer of nickel, producing 67,100 tonnes in the second quarter.

Vale also produced a total of 2 million tonnes of coal in the quarter. "

[Popeye82]

- We are going to sell one, two … around 15 assets -


Anglo American to axe 53,000 jobs, put 15 assets up for sale, “It is a pretty tough market,” said Chief Executive Mark Cutifani, “+in all likelihood the next six months are going to be even tougher”
------> www.angloamerican.com/media/press-releases/2015/24-07-2015
www.mining.com/anglo-american-to-axe-53000-jobs-put-15-asset…

[Popeye82]

This "New Consumer Could Buy 33,000,000 Pounds, Of Uranium"
http://piercepoints.com/uranium-india-nuclear-mining-strateg…

"I’ve written recently about an unlikely saviour arising in the uranium industry.

And this week, we got more confirmation.

The country is India. Which is now looking to build a “strategic uranium reserve” in order to support its burgeoning nuclear sector.

Reports emerged in the local press Sunday suggesting that the reserve could be sizeable. With unnamed officials suggesting that the government could look to stock up to 15,000 tonnes (over 33 million pounds) of uranium.


A proposal to approve 5,000 tonnes of reserves has reportedly already been sent to India’s cabinet. But sources said that figure would likely be revised upward over the coming years.

Such a buying spree would obviously be good news for the uranium mining industry. So the question is: where will this supply come from?

Some will be sourced from within India. With the country’s uranium production currently running around 1,250 tonnes (2.75 million pounds) yearly.

But the reserve will likely require supply beyond domestic output. And recent government comments give some clues about which countries could benefit.

Officials have said that the majority of their current yearly uranium demand (about 650 tonnes) will be met by supply from Kazakhstan. Indeed, India’s Prime Minister Narendra Modi visited the Central Asian nation last week and renewed a supply contract for 5,000 tonnes of uranium.

But the building of the stockpile will likely require supply above and beyond this. And officials have said they will be looking to one country to fill the gap: Australia.

Negotiations in May between India and Australia have opened the door for supply deals here. And we could start seeing substantial amounts of supply flowing between the two nations as the stockpile gets built.

India’s officials have also visited Canada recently to discuss uranium. So there’s a chance production from this key center could help in the creation of the reserve.

Whatever the case, miners somewhere are going to benefit. And perhaps uranium prices as well, as global supply gets notably tighter.

Here’s to being reserved,

Dave Forest

[e-mail] "

[Popeye82]

This "World-Leading Copper Resource Is Getting A Tax Break"
http://piercepoints.com/copper-mining-kupferchiefer-poland-t…

"Very welcome news yesterday for one of the world's largest copper mining districts.

That's the Kupferschiefer of Poland -- a deposit that produces 425,000 tonnes of copper metal yearly.

Not one but two of Poland's leading political parties came out in support of cutting taxes for mining in the Kupferschiefer. Making it look all but assured that at least some operations here are going to get more profitable, very quickly.


The prospect of tax reforms in the Kupferschiefer was kicked off by the country's Law & Justice political party. Which said on its Twitter account that it was planning to make a motion to "cancel the copper tax".

The copper tax in this case is a 2012 initiative introduced by the Polish government, imposing additional taxes on copper (and silver) mining from the Kupferschiefer. Which were applied at a sliding-scale that ranged up to 35%.

The unpopular move caused a number of smaller projects in Poland to halt. And had a notable financial impact on the country's biggest miner, state-controlled KGHM.

But with copper prices subsiding, officials now seem to be moving to support KGHM. With the Law & Justice party saying that the company's profits are "falling radically".

The endorsement from Law & Justice is a critical one. Because the party is currently leading polls for the October 25 general election in Poland.

But the current government also appears to be favoring a tax cut. With the country's Prime Minister Ewa Kopacz saying yesterday that officials must "analyze" KGHM's tax structure.

That follows on comments last week from Poland's Treasury Minister Andrzej Czerwinski, noting that the government may have "some good news" for KGHM soon.

The critical thing here will be to see whether potential tax cuts apply just to KGHM -- or whether they will be extended to the entire Polish mining sector. If the latter proves to be the case, we could see a resurgence of new project activity here, continuing a trend that was getting in motion three years ago, before the new tax was imposed.

Here's to giving them a break,

Dave Forest "

[Popeye82]

The "Most Substantial Production Cut, In Decades, For This Metal "
http://piercepoints.com/platinum-south-africa-lonmin-palladi…

"Signs of major problems in the platinum sector last week – showing that low prices and difficult production conditions are finally catching up with supply.

The announcement came from the world’s third-largest platinum producer Lonmin. With the company saying that it will idle a substantial portion of its operations in response to depressed market conditions.


Lonmin said it will close two of its production shafts in South Africa. And temporarily idle three others.

The result will be a significant cut in Lonmin’s overall platinum output. With production expected to drop by 100,000 ounces yearly.

The move will also affect a substantial portion of the company’s labor force. With management saying that 6,000 employees and contractors are likely to face the axe — amounting to about 16% of Lonmin’s workers.

The reason for the closures is simple economics. With Lonmin admitting that the company is losing money on an operating basis, even before interest, tax, depreciation and amortization.

This is a sign of the times in the platinum business. With prices for the metal having dipped below $1,000 per ounce this month, marking the lowest price seen since the depths of the financial crisis in late 2008.

Miners in world-leading producer South Africa are especially feeling the pinch. With factors like rising power and labor costs making it all the more difficult for operations here to remain in the black at lower metals prices.

These cuts from Lonmin aren’t huge on their own — amounting to about 2% of global annual mine production. But if this is a sign of things to come, we could see more substantial reductions in output emerge soon. Especially if platinum prices remain at (or below) current levels.

Here’s to facing the axe,

Dave Forest "

[Popeye82]

Chinese gold imports cut in half - M.com - Jul 27, 2015

- Frik Els -
www.mining.com/chinese-gold-imports-cut-in-half/?utm_source=…

[Popeye82]

Uran

so eine art "making the case" -also eben schon ganz klar die pro/bullische seite-, für uran, von einer firma

- Nuclear power generation helps meet climate goals
- Japan, by restarting reactors, will meet its post 2020 greenhouse gas emission targets while South Korea increases its nuclear new build, and cancels four coal fired power stations, to reduce the country’s greenhouse emissions to 37% below business as usual levels by 2030
- Yellowcake prices remain flat for the last few weeks at around US$36 to $38lb, up from a low of US$28lb in mid 2014
- China, Russia, India, USA, Korea, UEA and Japan forge ahead with their nuclear new builds and reactor restart programs
- Japan’s reactor restarts are imminent with nuclear fuel being loaded into Kyushu Electric Power Company’s Sendai 1 reactor with anticipated start up in August 2015
- Japan is aiming to have 11 nuclear power reactors back online by 2016
- China is commissioning a new 1,000Mw reactor every month with four connected to the grid in 2015 and a further eight to be commissioned by the end of the year
- China will surpass the US as the largest producer of nuclear power and consumer of uranium at 52 million pounds a year by 2025
- South Korea government announces two further nuclear power reactors are to be constructed and plans for four coal fired plants have been dropped. Korea now has 24 nuclear plants operating, 6 under construction and 8 on order or planned
- South Australia’s Royal Commission into nuclear fuel cycle seeks submissions on uranium exploration, mining, fuel conversion, enrichment, fabrication, nuclear power generation and waste management in Australia
- Whilst a record new build of reactors is underway uranium mines needed to feed them are still years away. Uranium prices are languishing at about half the level required to convince mining companies to invest in new production
- Manhattan’s 100% owned Ponton project in WA has reported 17.2Mlb uranium oxide Inferred Resource with additional drilled Exploration Targets reported of 33 to 67Mlbs U3O8
- SPOT MARKET URANIUM OXIDE NOW US$36.00 POUND ...
http://manhattancorp.com.au/upload/documents/investor/quarte…

[Popeye82]

Around 10,000 jobs in South Africa @risk, as mining firms announce production cuts, "We ARE HEADING FOR A JOBS BLOODBATH" - MT/E/BB, SOUTH AFRICA - Jul 30, 2015
www.mining-technology.com/news/newsaround-10000-jobs-south-a…

"Appoximately 10,000 jobs in South Africa are expected to be cut due to a number of producers opting to slash production at major mines.

At least seven mining companies have announced plans for job cuts in past two months in the country.

The latest decision by the mining companies comes due to declining commodity prices in addition to rising wage demands compelling them to reduce staff.

Over the next year, a 20%-30% out of a total workforce of 440,000 in the country is expected to be at risk.


South Africa is the biggest producer of platinum and manganese, with mining accounting for more than half of the nation's exports.

Bloomberg quoted research group Economists.co.za chief economist Mike Schussler saying by phone: "We are heading for a jobs bloodbath.

"We've already lost thousands of jobs on mining and it looks like we're going to lose more with commodity prices coming down this quickly, added to the complication of high wage settlements and higher electricity and water rates."

The government aims to create six million new jobs by 2019, yet is experiencing difficulties in doing so due to weak economic growth caused by power shortages, labour strikes and pay-rise demands.

South Africa's gold mines labour group, the National Union of Mineworkers is seeking hikes of more than 60%.

In 2014, a strike by workers ceased most of the operations of three biggest platinum producers for five months and finally it was concluded when companies agreed to increases their wages by as much as 35%.

Following the NEC Lekgotla meet, held from 24 to 26 July African National Congress secretary general Gwede Mantashe said: "South Africa remains a mineral driven economy, based on amongst others industrialisation through beneficiation and foreign earnings.

"Those companies that have already announced possible retrenchments are called upon to review their plans and avoid massive job losses as such would lead us further into crisis." "

[Popeye82]

Antwort auf Beitrag Nr.: 50.210.907 von Popeye82 am 17.07.15 16:54:59

Codelco halts world's largest open pit copper mine, over strike, things took a turn for the worse Fri, when a worker was shot dead by police near the company's smaller Salvador mine in northern Chile - M.com - Jul 28, 2015

- C. Jamasmie -
www.codelco.com/codelco-informa-que-7-de-sus-8-divisiones-es…
www.mining.com/codelco-halts-worlds-largest-open-pit-copper-…

[Popeye82]

Research finds 93% Australian mining leaders not optimistic, about growth prospects - MT/NC - Jul 31, 2015
www.mining-technology.com/news/newsresearch-finds-93-austral…

"A new report by Newport Consulting has found that around 93% of mining leaders in Australia are not optimistic about their growth prospects for the next year.

A further 82% anticipate that it will take at least three to five years for large-scale projects to start operations.


Leading economist Saul Eslake said: "I don't expect any major new mining projects to commence in the next few years.

"There is wide consensus that commodity prices will continue to decline as more supply comes on stream globally, while the growth rate of demand for commodities slows. Economic growth will continue at a below-trend pace over the next 12 months, and unemployment will continue to rise."

In addition, the report found that 89% of leaders in the mining industry agree that Australia is no longer the best investment market in the world.

Almost 61% of leading mining professionals acknowledged the issue of a national productivity imperative and admitted that output is on their agenda.

Newport Consulting managing director David Hand said: "Mining leaders are telling us they've done all they can to address their business performance, as demonstrated by large cost-cutting exercises and job retrenchments.

"They've accepted the new lows hit by the sector and have embraced a government who will listen. However, they want action quickly: less red tape, more flexible IR laws and better infrastructure."

Operational management consultancy Newport Consulting has been conducting research since 2010 every year to find out the views of mining leaders in Australia.

The latest findings have been released based on in-depth interviews held between April and June 2014 with 60 mining executives from a broad range of mining companies. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.292.570 von Popeye82 am 29.07.15 18:06:01

Platinindustrie nicht fröhlich

Platinum price: New round of industrial action, Amid worst slump in over six years, ruling party of South Africa calls shaft closures +layoffs "unpatriotic", as unions gear up for another brutal fight - M.com - Jul 30, 2015

- Frik Els -
www.mining.com/platinum-price-new-round-of-industrial-action…

"


On Thursday, platinum futures in New York enjoyed a fifth session of gains as investors spooked by a fall to a near seven-year low last week eye developments in top producer South Africa and vehicle markets around the world.

In afternoon trade on the Nymex in New York platinum for delivery in October added $2.20 to $987.20 an ounce, up sharply from an intra-day plunge on July 20 to $946.30 an ounce but within shouting distance of levels last seen end 2008. Compared to this time last year the metal is down 32.7%.


Sister metal palladium also found its footing with Nymex September contracts exchanging hands for $619.10, up 0.5% or $3.50 after plunging below $600 an ounce last week for the firs time in three year. The price of palladium jumped to 13-year highs above $900 an ounce in September last year.

Platinum's primary use is in catalytic converters to reduce emissions – specifically for diesel vehicles – and Europe's automakers are the top consumers of the metal where diesel makes up 50% of the market. Palladium finds more application in gasoline engines and is therefore more exposed to the Chinese and US markets.

China, is the world's largest and fastest growing vehicle market, but the slowing economy and the chaos on equity market dented consumer confidence inside the country.

Predictions of some 6% year on year growth through 2020 were put in doubt after passenger car sales contracted 3.4% in June and production volumes also declined. In Europe the trend was the opposite with June sales rebounding by 15% from a weak May and in the US car sales remained on track for the best year in a decade.

Another factor putting the market under pressure is South African production of platinum returning to levels ahead of the crippling five-month strike in 2014.

But with labour action a constant threat and large parts of the industry operating at a loss, output from the country which produces more than 70% of the world's platinum (and together with Russia control nearly 80% of primary PGM production) is expected to be lower in coming months.

World number three platinum producer Lonmin last week announce it will close two shafts in the country and idle three others. That will result in roughly 100,000 ounces of lost annual production – 2% of global supply – and a 6,000 or 16% reduction in its workforce.

Anglo American, parent of Angloplat which on its own produces more than 30% of the world's platinum, last week announced it is cutting a third of its global workforce or 53,000 positions over the next few years.

Amplats has put a number of its South Africa mines up for sale, but so far has only attracted low-ball offers and the preferred route now appears to be a spin off by means of an IPO.

While smaller player Northam announced on Thursday a three-year deal with unions at its Zondereinde mine which produces 300,000 ounces a year similar-sized Aquarius Platinum said yesterday it is reviewing the viability of its shafts in South Africa and Zimbabwe which it shares with Angloplat and second largest producer Impala respectively.

The country's National Union of Mineworkers and the more radical Amcu labour organization have vowed to fight any jobs cuts in the sector. They are also getting support from South Africa's ruling African National Congress party which on Tuesday called any job cuts in the mining sector "unpatriotic" and that lay-offs should not be the first option "every time the behaviour of commodity prices goes down" reports the BBC.

Capital Economics estimate that on average the price of platinum has increased by 20% during each of the past eight disruptive episodes in South Africa. The independent research firm predicts the platinum price to rise to around $1,060 by the end of the year.



- Source: Capital Economics -


Meanwhile, this week workers at Stillwater Mining Co, the only platinum and palladium mine in the US also rejected managements latest offer. The Montana miner suffered work stoppages in 2004 and 2007 during labour disputes and in May said it's sticking to targets of 520,000 to 535,000 ounces of production this year. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.292.570 von Popeye82 am 29.07.15 18:06:01

Will "13% Be Enough, To Save This 'Key Gold Production District'? "
http://piercepoints.com/south-africa-gold-mining-unions-labo…

"The South African mining sector is no stranger to labor unrest. With a six-month strike in the country’s platinum industry last year having reduced output by 1.2 million ounces.

And now the gold mining business is facing the same threat.

Negotiations between South African gold miners and the country’s four biggest mining unions reached a near-climax on Friday. With the country’s largest gold producers extending what appears to be a final offer to workers.


That includes offers from AngloGold Ashanti and Sibanye Gold to raise monthly pay for entry-level workers by 1,000 rand (about $80) yearly for the next three years. Harmony Gold Mining offered a 500-rand rise in annual pay.

In total, that amounts to about a 13% rise for AngloGold and Sibanye employees in the first year. And an 11% increase for Harmony Gold workers.

South Africa’s four major mining unions will have this week to respond to the offer. With these decisions being critical for the future of the gold sector here.

The two sides still appear to be a ways apart on demands. With the unions having previously requested a 60% rise in wages.

Representatives from the country's largest union, the National Union of Mineworkers, said they were “disappointed” with the latest round of offers. But executives from Harmony said it was “extremely likely” that the unions would accept the deal, given the current depressed state of the gold business.

The outcome of the union decisions on the offer thus appears up in the air. And if the answer is no, the next steps are uncertain – with Harmony having called the current terms “a final offer”.

The situation is all the more complicated given that all four unions must agree in order for the current offer to proceed. Watch this space for important news from a place that produces 5% of the world’s bullion supply.

Here’s to striking a deal,

Dave Forest

[e-mail] "

[Popeye82]

Gold mines closures set to drop output
www.miningaustralia.com.au/features/gold-mines-closures-set-…

"Taking All-in Sustaining Costs (AISC) figures, precious metals consultancy Metals Focus reckons that just short of a quarter of global new mined gold output is running at a loss at an $1100/ounce gold price, and falls below that level will add to this quite sharply.

The consultancy’s global cost curve covers gold mines providing around half the global gold output of 1,650 tonnes.

Metals Focus estimates that as much as half of annual new mined production in their survey, i.e. 400 tonnes, will be uneconomic at current prices.


Presumably extrapolating this figure across total global gold output would thereby suggest that as much as 800 tonnes of production could currently be running at a loss.

But the consultancy notes, this doesn’t mean that any of the production will fall away through closures and cutbacks, not until the gold price downturn is more prolonged or more severe.

It notes that there may be substantial costs involved in closing an operating mine down, which may mean it is less costly to keep the mine producing at some level – perhaps high grading where this is an option (which may actually increase output).

As the consultancy points out in its latest Precious Metals Weekly newsletter, firstly, closing a mine in itself is often a very costly undertaking. The workforce may be entitled to some redundancy or retraining payments.

Decommissioning of the process plant and mining equipment, as well as reclamation of the land and watercourses, and other environmental-related site rehabilitation also has to be accounted for. Because of this, rather than closing an operation, mining companies will often be prepared to operate at a loss in the short term in the hope that the gold price will make something of a recovery although sentiment seems to be so anti-gold at the moment it is hard to see this happening in the short term.

But there does seem to be something happening with gold that could suggest some minor optimism in this respect – or at least make what’s happening less overtly pessimistic for the gold investor.

The recent daily gold price pattern seems to be that European and U.S. markets take the price down while Asian markets move it back up again (overnight). Now whether this is through sheer weight of Asian demand or whether there is some powerful entity intervening to prevent heavy falls remains to be seen.

Coming back to the likelihood, or otherwise, of mine closures, Metals Focus also points out that the geographical location of the mines also has an important part to play.

It specifically points to South Africa as a case in point here. It notes that 20% of unprofitable production is located in the rainbow nation, where mining companies are having to deal with production at enormous depth and with falling grades which puts a huge burden on actual mining costs.

The companies are also facing acrimonious labour talks that may exacerbate the situation, and may threaten closures as a result but, as the platinum miners will attest, politically there will be huge pressures exerted on the miners to keep operations going given they are such big employers and taking into account the country’s high unemployment rate. (See the latest on the SA gold labour negotiations here).

However, in contrast with the South African situation, Australia which accounts for 18% of the unprofitable mine production may be more likely to see closures and cutbacks implemented where political interference with such decisions may be less likely.

Even so, the consultancy notes, the actuality of closing an operating mine may still only be the last choice as companies seek other ways of cutting costs. But with the easy cuts already made, this becomes a harder and harder task.

There has also been some mitigation due to falling resource country currencies against the U.S. dollar. We have pointed out here before that so far this year the gold price is actually higher now than it was at the start of the year in terms of key mining nation currencies like the Australian and Canadian dollars which can have a significant effect on profitability levels given the output is sold in dollars, while much of the costs will be in local currencies.

Even so, the consultancy concludes, for some of those at the top end of the cost curve, the future looks bleak, and closures now seem inevitable.

Over the next 12 months, they expect a decline in output of around 75 tonnes. But then to put this into perspective, in terms of gold flows, just over 73 tonnes of gold moved through the Shanghai Gold Exchange in the last reported week! So will a 75 tonne cut in production have any real impact on the market anyway?

We somehow doubt it. "

[Popeye82]

Barrick making plans for $900 an ounce gold price, World's number one gold miner announces program to sell more mines, make deeper cost cuts after completing scenario-planning for a triple digit gold price
www.mining.com/barrick-making-plans-for-900-an-ounce-gold-pr…

"Shares of Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) slid further after hours after falling nearly 4% in regular trading on Wednesday after the gold miner, the world's largest in terms of output, cut its dividend by 60% despite reporting a narrower second quarter loss.

Barrick's market value is down 50% over the last three months and is now worth some $8 billion in New York. That compares to a $64 billion capitalization when gold was at $1,900 in 2011.


Barrick cuts its gold production forecast to between 6.1m – 6.4m ounces as it disposes of assets including 50% of its Zaldivar copper mine in Chile for $1 billion, the Cowal mine in Australia for $550 million in cash and $298 million for its Porgera mine to tackle its crippling debt-load of more than $13 billion.

The company announced additional disposals on Wednesday announcing that in the next few weeks, it will start a process to sell its Bald Mountain, Round Mountain, Spring Valley, Ruby Hill, Hilltop and Golden Sunlight assets in Nevada and Montana.


Other notable features of the quarter and outlook include further cost and capex cuts and plans to weather a $900 an ounce gold price:

- Company reported a net loss of $9 million ($0.01 per share) in the second quarter; adjusted net earnings were $60 million($0.05 per share).
- Free cash flow was $26 million and operating cash flow was $525 million.
- Production in the second quarter was 1.45 million ounces of gold at all-in sustaining costs (AISC) of $895 per ounce.
- Full-year gold production is now expected to be 6.1-6.4 million ounces, reflecting the impact of asset sales.
- All-in sustaining cost guidance for 2015 has been reduced to $840-$880 per ounce.
- Total debt reduced by approximately $250 million in first half.
- $2.45 billion in asset sales and joint ventures announced to date.
- Targeting $2 billion in reduced expenditures across the company by the end of 2016.
- Capital and other expenditures reduced by $240 million in the second quarter.
- Lowered quarterly dividend to two cents per share.
- Scenario planning completed for gold prices down to $900 per ounce.
- On track to achieve approximately $50 million in G&A cost savings in 2015, exceeding original $30 million target for the year. Targeting $90 million in annualized savings in 2016, up from original target of $70 million.
- Completed Preliminary Economic Assessments on projects with the potential to significantly extend mine life at Lagunas Norte and Pueblo Viejo. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.147.817 von Popeye82 am 09.07.15 11:51:19

GRAPH: Why you can't compete with Rio iron ore, World number two miner copes with 46% drop in price in first half of 2015 but keeps iron ore margins above 60% – where it's been for 15 years
www.mining.com/graph-why-you-cant-compete-with-rio-iron-ore/…

"

- Rio Tinto's Mount Tom Price – a nice little earner since 1966 -


World number two mining company Rio Tinto (NYSE:RIO) on Wednesday announced a huge slide in profit for the first half of the year with net earnings collapsing by 80%.

Profits dropped from $4.4 billion last year to $806 million in the six months to end-June largely on the back of slump in the price of iron ore.

Revenues dropped by $6.4 billion to $18 billion and underlying earnings for the Anglo-Australian giant came in at $2.9 billion in 2015 – down 43% compared to last year's numbers. Iron ore contributed $2.1 billion of the total.

Iron ore has recovered from a record low of just over $44 hit in July, but is still down more than 20% this year following a 47% fall in 2014.

Every 10% movement in the iron ore price has a $1 billion impact on Rio's underlying earnings

Rio said iron ore output of 154 million tonnes was 11% higher than last year following a ramp up in production from its core operations in the Pilbara region in West Australia.

Rio hit its targeted annual run rate of 290 million tonnes in May. Iron ore revenues were also hurt by a decline in freight rates of $263 million over the six months.

The Melbourne-based company said cost reductions, favourable exchange rates, volume savings and lower energy costs helped to offset the decline in the iron ore price.

Pilbara cash unit costs were driven down to $16.20 per tonne in H1 2015, compared to $20.40 per tonne during the same period last year and $18.7 in H2 2014. Rio's said it's cut $1 billion of fat from its iron ore business since 2012.

To give an idea of just how reliant Rio has become on the fortunes of iron ore the company calculated that every 10% movement in the price equates to a just over $1 billion impact on its underlying earnings. The same ratio for copper is only $183 million.

Politicians have used the word collusion and some even called for an official anti-trust inquiry into the massive production expansion of the Big 3 – Vale, Rio and BHP.

Competitors have accused the Big 3 of having a tacit agreement to drive down the price and drive out smaller players.

Whether the strategy has been deliberate or not this slide from today's results presentation shows just how difficult it is to go up against with iron ore's top tier and Rio particularly (62% margins for 15 years!):

"

[Popeye82]

Revocation of Australia’s largest coal mine licence ‘a sabotage’ —Abbot, his comments follow this week's decision by the federal court of Australia to overturn government approval for the construction of one of the biggest coal mines in the world - M.com/TA - Aug 7, 2015

- C. Jamasmie -
www.theaustralian.com.au/subscribe/news/1/index.html?sourceC…
www.mining.com/revocation-of-australias-largest-coal-mine-li…

"

- Adani's Carmichael project has been the focus of opposition by organizations ranging from the United Nations to green groups fighting new coal projects in the environmentally sensitive area. -


Australia’s Prime Minister Tony Abbot is calling the recent legal blow to Adani’s huge Carmichael coal mine and rail project a “real problem” for the country’s mining industry.

In an interview with The Australian, the leader said that if a “vital national project” can be endlessly delayed and courts can be turned into “a means of sabotaging projects,” which are actually striving to meet the highest environmental standards, then Australia has “a real problem” as a nation.


“We can’t become a nation of naysayers; we have to remain a nation that gives people a fair go if they play by the rules,” Abbot said according to the paper.

His comments were welcomed by The Minerals Council of Australia’s (MCA) CEO, Brendan Person. In an e-mailed statement he said Abbot’s warning about the risks posed to the country’s ailing economy by ideologically motivated campaigns to halt mining projects, was timely.

“New projects must be treated on their merits, not held up by vexatious and incessant legal appeals lodged by a small band of anti-mining protestors funded by overseas interests.” Pearson warned that future investment in the sector would be at risk if projects continued to face endless suspensions.


Technical error

On Wednesday the federal court of Australia overturned government approval for the construction of Adani Group’s controversial $12 billion (A$16bn) Carmichael coal mine and rail project, which has become an emblem for the ongoing battle between environmentalists and the fossil fuel industry.

The project is near the Great Barrier Reef, and conservationists have warned of damage to the ecosystem of the world heritage-listed site.

This week’s court decision was based on a technical error made by Australia’s department of environment, Adani Group said on Wednesday, adding that the minister would now have to reconsider the application for approval. The company described the oversight as “regrettable”.



- Project location (Click on image, to expand). -



In June, the company halted preparatory engineering work on the project as a result of delays to receiving all the regulatory approvals, but the Indian conglomerate has insisted it remains committed to building the mine.

Coal projects are facing global opposition due to an aggressive campaign by environmental activists, analysts and economists. They argue new mines don't make sense because the fuel, which has the heaviest carbon dioxide emissions of any power source, will have to be phased out before investors can get their money back.

At the same time, prices for the commodity have fallen to the lowest in years.

Developing countries, however, are still building coal-fired power plants even as they lay out plans to increase their renewable energy. "

[Popeye82]

Japan's 1st Reactor to Restart, Tonight - U3O8.biz/NRA/CTVN - Aug 10, 2015

- Kristen Moran -
www.u3o8.biz/s/MarketCommentary.asp?ReportID=719096&_Type=Ma…

"Uranium market watchers have been keeping a close eye on Japanese reactor restarts, and the time has finally come for the Asian nation to turn on its first reactor since the 2011 Fukushima disaster. Kyushu Electric Power Company (TSE:9508) announced Monday that it will start up one unit at the Sendai nuclear power plant on August 11; it will begin generating electricity on August 14.


The news has been a long time coming given that the Nuclear Regulatory Agency (NRA) gave the two Sendai units the okay to restart in October 2014. Still, it has been far from smooth sailing since then. Local residents and anti-nuclear power activists have voiced concerns about safety and attempted to block restarts at Sendai through court action. Ultimately, however, the Kagoshima District Court swiftly shut down that opposition.

Still, the court's decision hasn't prevented those in opposition from continuing to campaign against restarts. Indeed, dozens of protesters assembled outside of the Sendai plant on Monday, making a final attempt to stop the restart, according to CTV News.

Kyushu's evacuation plan for Sendai is one issue causing concerns for protesters. Though it outlines emergency response plans in the case of fire, flooding, other natural disasters and serious accidents, local campaigners told The Guardian that Kyushu and local authorities have yet to explain how quickly they would be able to evacuate residents should a natural disaster occur. Approximately 220,000 people live within a 30-kilometer radius of Sendai; the area is also home to five groups of calderas and Sakurajima, one of Japan's most active volcanoes.
Good news for Japan and the uranium market

The restart is a big win for Japanese Prime Minister Shinzo Abe, who has been working to reboot nuclear power in Japan and get the country's economy back on track. Despite opposition, Abe has insisted that without nuclear power, the Japanese economy will buckle under the cost of oil and gas imports.

For his part, Cantor Fitzgerald Senior Analyst Rob Chang believes the announcement is very positive, and said in a note released Monday that the news will return general market interest to nuclear power and uranium. His firm expects the news to cause uranium equities across the board to strengthen.

"Ever since the Fukushima incident derailed a uranium market that was heating up significantly in March 2011 many have pointed at nuclear restarts in Japan as a key catalyst to 'restart' interest in the space," Chang said. "That time is now. While a single reactor will not move the needle in terms of overall uranium demand, we view this event as the type of front page news event that will return interest into the nuclear and uranium space. We expect across the board strength in the uranium universe with particular interest being paid to companies with higher liquidity."

Cantor Fitzgerald expects the restart of the second Sendai unit to be the only other restart in 2015; however, it sees a total of nine reactors being up and running by the end of 2016. And while the firm believes that most of Japan's 48 reactors will have to come back online to effect any major shift in the supply and demand balance, Monday's Sendai restart is certainly a positive move and further cements expectations for a uranium supply deficit by 2020.


Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article. "

[Popeye82]

Most Chinese rare earth miners running @a loss —report, about 90% of China’s rare earth producers are currently operating @a loss as prices for the coveted elements continue to drop, due to a global glut +illegal mining
www.mining.com/most-chinese-rare-earth-miners-running-at-a-l…

"

- Cargo ships loaded with rare earth soil for export in China (Image by tab62|Shutterstock.com) -


About 90% of China’s rare earth producers are currently operating at a loss as prices for the coveted elements — used in high-tech sectors — continue to drop due to overcapacity and illegal mining.

According to the Association of China Rare Earth Industry, local companies have been losing money for months and many are expected to close up shop before year-end.

Chen Zhanheng, the group’s deputy secretary-general, told China Daily the main issues weighing on the market are oversupply and illegal mining.

Many companies rushed into rare earth mining and production business when prices were high, he told the paper, producing much more than what the market really needed.

"Rare earths are not as difficult to mine and process as many seem to think, so many illegal miners are bypassing regulations to dig and smelt the metals. This, in turn, has led to a glut in the market," he said.

The situation has not only affected small producers. The country’s six largest rare earth miners are also feeling the pinch, according to Investorintel:

Xiamen Tungsten, for instance, reported a sharp drop in its net profit in the first half of 2015, the company’s rare earth business has suffered a loss of $11.5 million during the period, $8.8 million more than the year before. Guangdong Rising Nonferrous is forecast to lose $5 to $6 million, down about 600% when compared to the $1 million reported last year last year. China Minmetals Rare Earth expected its net profits in the first half to stand at up to $470,000.


End of a monopoly

Until 2010, China controlled around 97% of the supply of the coveted metals, used in advanced electronics, defense and renewable energy. But when it sought to impose export controls to give an advantage to domestic electronics producers, prices soared by up to 20 or 30 times previous levels.

Attractive prices encouraged investment in the sector in the U.S., Australia and other places outside China. But, at the same time, it fired up smuggling from the Asian nation and a consequent drop in prices.

Rare earths were further battered earlier this year, when China scrapped export tariffs, which had inflated international prices, after a World Trade Organization ruling.

Now market observers are saying that prices for the 17 sought-after elements should start picking up by year-end. However, they also warn that a glut of supplies, including from illegal mines and smuggling in China, could cause the market to crash back down.

Investment confidence has been badly hit by the poor performances of the two major producers outside China — Molycorp (NYSE:MCP-A) and Lynas Corp (ASX:LYC).

Canadian rare earth companies have also shed nearly all of their value in the last few years. Shares of Avalon Rare Metals (TSE:AVL) are down 96% from their 2011 high, while Quest Rare Minerals’ (TSE:QRM) stocks have dropped about the same, since March 2012.

Meanwhile, China continues to restrict the number of firms allowed to produce and export rare earths. This means there will remain a significant supply bottleneck that is likely to encourage smuggling as well as illegal production in the nation, with the feared consequences in prices.

"

[Popeye82]

Freeport cancels copper exports from Indonesia, as permit expires
www.mining.com/freeport-cancels-copper-exports-from-indonesi…

"

- Freeport McMoRan Copper and Gold's Grasberg mine is the world's largest gold mine and third largest copper mine. -


Freeport-McMoRan Inc. (NYSE:FCX), the largest publically traded copper producer, has stopped exports from its Grasberg mine in Indonesia after failing to obtain an exemption from a new rule requiring mining exports to use letters of credit.

The shipments have halted since last month, the Jakarta Globe reported, adding that Indonesian authorities had earlier exempted the firm from the rule for six months, but that permit expired on July 25.

On Monday the company, the U.S. largest miner by market value and revenue, announced it might issue up to $1 billion in common shares. The move aims to help the miner come to grips with a hefty debt load following its $9 billion acquisition of Plains Exploration in 2013.

Despite the short rally following the news, the miner’s stock has fallen over 70% in the past year, and it was trading 2.15% lower to $9.98 in New York at 10:05am ET.

"

[Popeye82]

The Saudi oil price war is backfiring - M.com/OP.com - Aug 12/6, 2015

- Gaurav Agnihotri -
http://oilprice.com/Energy/Crude-Oil/The-Saudi-Oil-Price-War…
www.mining.com/web/the-saudi-oil-price-war-is-backfiring/?ut…

"Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump.

The Saudis have kept their production levels high since last year in order to drive other players (especially U.S. shale drillers) out of business. Equally clear is the fact that this strategy of maintaining the glut and driving out rivals hasn't worked so far.

Even when we look at the refining sector, we see that the oil kingdom has been following a similar strategy of flooding the markets with refined fuel. The Saudis have already sparked an oil price war with the Asian refiners downstream by offering close to 2.8 million barrels of low sulfur diesel to the European and Asian markets. This has caused Asian refining margins to fall drastically, the effects of which can ironically now be seen on Saudi Arabia itself.

Saudis are now reducing their crude oil price hikes in Asia in order to save their market share

As the refining margins have fallen in Asia, refiners there have been compelled to cut their refining outputs. This could eventually result in refiners cutting their crude oil imports.




Asia has been one of the biggest cash cows for Saudi Arabia and there have already been some cuts in some of the most crucial markets. India, which was earlier importing most of its crude oil from Saudi Arabia, is now changing its strategy and buying more crude oil from Nigeria, Iraq, Mexico and Venezuela.

This made the Saudis blink and they started offering discounts on its medium and heavy grade crude oil to Asian customers. And, in a latest development, the Saudis are now trying to defend their market share as they have only marginally increased the price of the crude oil they sell to Asia, contrary to industry forecasts.

According to a survey by Reuters on 3rd August, Saudi Aramco was looking to hike the official selling prices of its crude oil (all the three grades) by around $1 per barrel from September 2015. However, the Saudis know very well that their selling prices are already high and a further substantial price hike might result in customers moving to other crude oil producers (much like what India did). The result is that the price hike on its medium and heavy grades is less than half of what the analysts expected while the price hikes in its flagship Arab light grade is below earlier predictions. This cautious move suggests that Saudi Arabia is on the defensive, hoping to protect its market share.


Is Saudi Arabia losing the oil price war?

"It is becoming apparent that non-OPEC producers are not as responsive to low oil prices as had been thought, at least in the short-run. The main impact has been to cut back on developmental drilling of new oil wells, rather than slowing the flow of oil from existing wells. This requires more patience," said a recent stability report by the Saudi Central Bank.

In short, Saudi Arabia's policy of keeping production levels abnormally high and driving out U.S. shale producers simply hasn't worked. Even as U.S. shale hedges are about to expire, some of the imminent bankruptcies would not result in wells getting abandoned, it would only result in cheaper acquisitions of bankrupt companies by their much bigger competitors. Once oil prices again rise to $60 per barrel levels, the bigger oil companies would naturally ramp up their production levels which would in turn increase U.S. crude oil production.

Thanks to its generous public spending and a costly war against Yemen, one of the major worries for Saudi Arabia is that it is burning through its foreign reserves at an alarming pace. According to the IMF, Saudi Arabia's fiscal deficit could rise to around $140 billion by this year end. From all this, it seems that the Saudis are now getting beaten in their own game and have been trapped in the oil price war that they themselves created. "

[Popeye82]

This "Key Natural Gas Announcement Is Coming, “Any Day” "
http://piercepoints.com/india-natural-gas-energy-petroleum-p…

"A couple of critical data points are about to drop on the energy market, based on reports this week.

The most immediate is in the natural gas space. Where officials in India said they are set to announce pricing reforms for domestic natural gas “any day”.


The announcement comes after India’s government said previously that it is planning to reform natgas pricing in the country. Raising sales prices to encourage production.

Officials have said they will increase pricing for gas produced from “difficult fields”. Which could include deepwater offshore production, or reservoirs characterized by high pressure or temperature.

The announcement over the next few days is expected to specify exactly what sort of terms such producers will receive. Which should provide a major boost in profitability for at least some E&Ps in this part of the world.

It will be particularly interesting to see whether shale gas is included in this category and given preferential pricing. India has lately been pushing hard to advance shale exploration — and a boost in prices could make this unexpected locale one of the more attractive destinations going for shale drilling.

At the same time, the market also got some more news on another emerging oil and gas hotspot: Iran. With officials in that country finalizing a date for announcing their new and more profitable petroleum contact structure.

The new contracts will be unveiled in December at a conference in London, according to reports from local Iranian news this week. With the event expected to clarify details such as percentage ownership, production sharing, and investment regimes for new oil and gas projects.

The new contracts could be a major trigger for project activity in Iran. With the revised agreements already reportedly attracting interest from Shell, Total, BP and Eni.

Keep an eye on both of these spaces over the coming days and months.

Here’s to energizing things,

Dave Forest

[e-mail] "

[Popeye82]

Is Glencore about to dump $16 billion of stockpiles?, JP Morgan Cazenove says Swiss commodity trading giant has to start off-loading inventory, to slash its $48 billion debt pile +keep its credit rating
www.theguardian.com/business/nils-pratley-on-finance/2015/au…
www.mining.com/is-glencore-about-to-dump-16-billion-of-stock…

" At the end of trading in London on Thursday shares in Glencore plc (LON:GLEN) was priced at 179p.

That affords the Swiss commodities trading and mining company a market worth of £25 billion or just under $39 billion.



- Making mountains into mole hills -


That's down a full two-thirds in value since the company's flotation at the end of May 2011.

Just this year the counter has dropped 40% as its acquisition of coal and copper dependent Xstrata drags on the trading arm, which during previous downturns were still able to make money.

The tie-up was supposed to create a new breed of resource company – a vertically integrated mine-to-market enterprise able to take on the world's giant diversified miners.

Glencore's stock performance is also worse than that of BHP Billiton and Rio Tinto despite the Anglo-Australian miners reliance on iron ore (the steelmaking ingredient hardly features at Glencore) which together with crude is the worst performing commodity over the last two years.

But for mining investors there may be bigger worry than a depressed share price.

A new research note from JP Morgan Cazenove quoted in The Guardian warns that Glencore's debt – estimated to come in at a stomach churning $48 billion when the company reports half-year numbers next week – as the biggest issue facing the company.


"Bold borrowings aren’t quite what they seem, it should be said, because Glencore’s marketing division holds a stockpile of commodities as inventories that can be turned into cash. Viewed that way, net debt might be nearer $30.5bn at year-end, estimates JP Morgan Cazenove.

"But here’s the rub: Glencore might have to go ahead and turn some of that stock into cash if its wants to save its BBB credit rating. “At spot commodity prices, we calculate net debt needs to fall $16bn by year-end 2016 to safeguard Glencore’s BBB credit rating,” says JP Morgan.

"Preservation of BBB is a financial priority, Glencore said in March, for the sound reason that a healthy rating is vital to keep funding costs low in the trading-cum-marketing division."


Glencore has other ways to find some of that $16 billion in cash like nixing its dividend. But any large seller into an already depressed metals and minerals market can only make things worse.

"

[Popeye82]

Antwort auf Beitrag Nr.: 50.404.905 von Popeye82 am 14.08.15 17:31:42

Glencore reports net loss, in H1 '15 - MT - Aug 19, 2015
www.mining-technology.com/news/newsglencore-reports-net-loss…

"Swiss commodities and mining group Glencore has reported a net loss of $676m in the six months to June-end due to a decline in raw materials prices.


The company's net income dipped by 56% to $882m from corresponding period a year earlier following a decline in the price of aluminium, nickel and other commodities.

Adjusted earnings before interest, tax and other items declined 29% to $4.6bn compared to the first half of 2014.

Glencore chief executive officer Ivan Glasenberg said: "Against a challenging backdrop for many of our commodities, we have taken a range of pre-emptive actions in respect of our balance sheet, operations and capital spending/recycling in order to preserve our current credit rating and sustain our track record on equity distributions.
"We remain by far the most diversified commodity producer and marketer and are well positioned to benefit from any improvement in pricing when it finally and inevitably materialises."

"Our core industrial assets remain well positioned on their respective cost curves. We remain by far the most diversified commodity producer and marketer and are well positioned to benefit from any improvement in pricing when it finally and inevitably materialises."

During the first half of 2015, period-on-period growth from African copper, albeit overall copper production edged down 3% to 730,900t, zinc production increased 12% to 730,300t and coal production dipped 4% to 68.7 million tonnes.

Separately, the company announced plans to shut its South Africa's Eland platinum mine citing weak prices.

Reuters quoted the company saying in a statement: "Glencore has informed the Department of Mineral Resources and relevant unions of the potential closures." "

[Popeye82]

Gold price: Hedge funds reverse historic bearish position, Amid chaos on equity markets, large speculators on gold futures this week exited bearish positioning not seen in at least 9 years
www.mining.com/gold-price-hedge-funds-reverse-historic-beari…

[Popeye82]

Copper down to fresh six-year low after China market falls, The red metal dropped to $5,012 on trading on the London Metal Exchange, approaching the level of $5,000 it last hit in late 2008
www.mining.com/copper-down-to-fresh-six-year-low-after-china…

[Popeye82]

Antwort auf Beitrag Nr.: 50.359.578 von Popeye82 am 08.08.15 18:46:41

Iron ore’s giants expanding clout as sales to China expand, in the global iron ore market, the world’s two biggest exporters are expanding sales into the top customer, winning a greater share of trade as prices tumble
www.bloomberg.com/news/articles/2015-08-21/iron-ore-s-bigges…

"




In the global iron ore market, the world’s two biggest exporters are expanding sales into the top customer, winning a greater share of trade as prices tumble.

Cargoes from Australia to China rose 13 percent to 347.4 million metric tons in the first seven months of the year, while Brazil’s shipments gained 6.5 percent to 100.7 million tons, customs data from the biggest buyer showed on Friday. Total imports for the period were little changed at 539 million tons.

The figures show that miners in Australia and Brazil are managing to build market share in China even as steel output contracts amid an economic slowdown. BHP Billiton Ltd., Rio Tinto Group and Vale SA are increasing low-cost supply, betting that higher volumes will offset lower prices as less competitive rivals are forced to close. Iron ore prices sank last month to the lowest in at least six years as demand growth stalled.

“Australia will likely again extend its market share of iron ore imports into China 2016,” said Anurag Soin, an analyst at Australia & New Zealand Banking Group Ltd. in Melbourne, said before the data were released. Rio and BHP, as well as Gina Rinehart’s Roy Hill Holdings Pty, are still completing expansion plans, and most of that supply will displace higher-cost output from China, Europe and North America, he said.

In July, Australian exports to China rose 12 percent to 56.2 million tons from a year earlier, while shipments from Brazil were 16.6 million tons, 17.5 percent higher, the data showed. Total purchases by China were 86.1 million tons last month, the highest this year, even as steel output dropped.


Rio’s Target

Rio and BHP have defended their strategy of expanding low-cost production into an oversupplied market. Rio’s Sam Walsh said in February if it cut output, forfeited supply would be made up by others. Alan Chirgwin, iron ore marketing vice president at BHP, said in May the miner’s strategy was rational.

China’s demand for iron ore is still very considerable despite the economic slowdown, Ren Binyan, managing director of Rio Tinto China, told reporters on Friday. The company plans to sell 240 million tons to the country this year, up from 200 million tons last year, he said in Shanghai.

Ore with 62 percent content delivered to Qingdao rose 0.5 percent to $56.10 a dry ton on Friday, according to Metal Bulletin Ltd. The commodity bottomed at $44.59 on July 8, a record in data going back to May 2009, and is 21 percent lower this year.

Australia’s exports of iron ore to all overseas buyers will expand to 824 million tons next year from 748 million tons in 2015, while Brazil’s shipments jump to 412 million tons from 390 million tons, according to projections from Australia’s Department of Industry & Science. The two countries will account for a combined 87 percent of global seaborne trade next year from an estimated 83 percent in 2015, it said. China is the main buyer, accounting for about half of world steel production. "

[Popeye82]

US crude closes under $40 a barrel for first time in 6 1/2 years, on fears of new global slump - SH/TCP, NEW YORK - Aug 25, 2015
www.stockhouse.com/news/newswire/2015/08/25/us-crude-closes-…

"The price of U.S. oil closed under $40 a barrel on Monday for the first time since the days of the global economic crisis on fears of a slowdown in the world economy.

Already trading at six-year lows on a prolonged slump, U.S. crude fell $2.21 to finish at $38.24 per barrel. Oil hadn't closed below $40 since February 2009, although it briefly traded below that level on Friday. Monday's closing price was the lowest since Feb. 18, 2009.

Brent crude, a benchmark for international oils used by many U.S. refineries, slipped $2.77 to $42.69 Monday and is at its lowest levels since March 2009.


Signs are mounting that growth in China, the second-largest economy in the world, is slowing down. That's making investors worry more and more about the health of the world economy, and those fears led to a sell-off in stocks Friday and again on Monday, when China's main stock market took its biggest dive in eight years. The Dow Jones industrial average spent the day far in the red, losing almost 600 points.

The U.S. has ramped up oil production to historic levels over the last few years while OPEC countries continued to churn out crude. Supplies have built up and growth in the world economy has been slow, with China's economy losing steam and Japan's shrinking. That resulted in a supply glut that has punished oil prices: the price of U.S. crude has fallen about 60 per cent over the last year.

U.S. crude averaged more than $90 a barrel from 2011 through 2014. Its price has fallen for eight straight weeks, the longest slump in almost 30 years.

The decline in oil prices has hit the energy sector hard, and oil and gas and oilfield services companies were some of the biggest losers on the S&P 500 index during Monday's plunge. The hardest-hit stocks included Newfield Exploration Co., which fell about 10 per cent and took the largest loss on the S&P 500, along with Cabot Oil & Gas Co., Marathon Oil Corp., Baker Hughes Inc., Hess Corp., ConocoPhillips, BP PLC and Exxon Mobil Corp. "

[Popeye82]

Wasser bahnt sich seinen Weg



Goldcorp, Teck combine projects, create new $3,500,000,000 mine in Chile, the miners expect significant savings +environmental advantages, by combining the two neighbouring projects, which are only 40 kilometres apart
www.mining.com/goldcorp-teck-combine-projects-create-new-3-5…


ein teilder lösung,
ab und zu den fressneid mal ein bisschen vergessen

[Popeye82]

Antwort auf Beitrag Nr.: 50.312.649 von Popeye82 am 01.08.15 13:46:55

"No One Expected This Central Bank Move In Metals "
http://piercepoints.com/platinum-south-africa-central-bank-r…

"Big news this week in the platinum sector. Confirming that this space is seeing some of the most critical shifts anywhere in the natural resources world.

As has been the case over the last few weeks, the developments center on the world's largest platinum producing nation, South Africa. Where industry is contemplating a unique strategy to save the embattled sector.

As reported by Reuters, a sweeping new accord has been drafted between South African platinum mining companies, labor unions, and the government. With one of the key points being a plan to increase central bank holdings of platinum as a reserve currency.


The document hasn't been released yet, with Reuters commenting on a leaked draft. But the news service said that the plan includes "wide interventions" aimed at encouraging central banks to use platinum as a reserve asset instead of gold. Particularly focusing on Brazil, Russia, India and China -- as well as South Africa itself.

The report gave little detail on what measures might be used to encourage these nations to buy platinum. But the suggestion is an intriguing one -- and could have big implications for the platinum price.

The new agreement could also have some important implications for platinum production. With mining companies reportedly agreeing to hold off on closing uneconomic mines in South Africa, focusing instead on selling such assets so they can remain operational.

The report didn't discuss which entities might buy such loss-making mines. But this could be a prelude to strategic deals being done in the sector -- Russia, one of the nations mentioned as a potential platinum buyer, has indeed been very active in the Zimbabwe platinum mining sector recently.

The agreement will reportedly be signed by all parties on Monday, after which we should get more details on all of these plans. Watch for these developments, which could change the course of the global platinum sector.

Here's to new reserves,

Dave Forest "

[Popeye82]

Woodside investing heavily in artificial intelligence
www.miningaustralia.com.au/news/woodside-investing-heavily-i…

"In an effort to improve production in tough market conditions, Woodside Petroleum is investing heavily in artificial intelligence.

Woodside executive Shaun Gregory told delegates at a conference in Perth that the last 12 months had seen the company focus heavily on digital and the evolution of computing, artificial intelligence, and big data analysis.

"Four months ago we had nothing in analytics, today our analytics platform is larger than Twitter ," Gregory said.


"Are we replacing humans? Absolutely not. People are now understanding what we are doing, bringing knowledge quicker to the humans.

"Our search for data that may today in Woodside have taken days, through AI takes a second, because it is just so efficient."

Gregory said Woodside were also working on developing algorithms in predictive modelling.

"We started a tiny pilot in October last year and we are now looking end-to-end, our entire value chain, so from exploration all the way through to the final marketing,” Gregory said.

"[Algorithms] are making a prediction, they can also self-analyse how successful they are , so they track their own success rate and they can publish themselves 'that I'm not good enough' ."

Gregory said it was now possible to predict events that were going to occur in one week, one month, or three months’ time and intercept failures before they happen.

"So you get a whole lot more efficiency and maintenance and increased production."

Last week, Woodside posted a first-half net profit of $US679 million, a 38.6 per cent slide on the previous corresponding period.

The profit plunge was due to the fall in price of oil, which is trading at six-year lows.

Wooside CEO Peter Coleman said the company was focusing on cutting costs and improving process efficiencies. "

[Popeye82]

New processing method for platinum discovered, a new cheaper method for recovering low grade platinum metals has been found - MA/SWA/SU/WASoM, WA/STELLENBOSCH, SOUTH AFRICA - Aug 27, 2015
www.sciencewa.net.au/topics/industry-a-resources/item/3725-r…
www.miningaustralia.com.au/news/new-processing-method-for-pl…
www.sciencedirect.com/science/article/pii/S0892687515300212?…

"A new cheaper method for recovering low grade platinum metals has been found.

Research at the Western Australian School of Mines, in collaboration with South Africa’s Stellenbosch University, has shown that the traditional smelting methods can now be replaced with low cost direct leaching, according to Science WA.

The process now opens up deposits that were considered too small to extract using conventional smelting and refining methods.




The Munni Munni PGM deposit in the Pilbara, Panton in the Kimberley, and Fitfield in Central New South Waled – Australia’s largest platinum group metals deposits – were not “large enough to support the capital costs of building a smelter,” Curtin University chair of extractive Metallurgy professor Jacques Eksteen said.

“In WA, for instance, the deposits are just too far out…the logistical costs would kill you.”

“PGMs tend to form a complex range of minerals, we’re talking about 30 to 40 different minerals, and they each have different resistance to leaching, making it hard to find a unique solution for all deposits,” Prof Eksteen says.

However by using direct leaching “we found we could recover economic levels of platinum metal, then we were able to recover it from solution,” Eksteen said.



- Thanks to ongoing research at the Western Australian School of Mines, in collaboration with Stellenbosch University in South Africa, Prof Eksteen says the traditional smelting process can be replaced with low-cost leaching. -


The leaching itself is a two stage process that uses biological leaching to remove the copper and nickel typically found in platinum group metal deposits, and then using cyanide to extract the PGMs.

Following this the metals are adsorbed from the solution using activated carbon, and then eluted from the carbon in a concentrated form, after which they can be released one by one.

Further research is now focused on developing reagents for improved recovery rates and higher selectivity. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.517.240 von Popeye82 am 29.08.15 16:53:24

New uranium extraction process discovered, EXTRACTIVE metallurgists from Murdoch University have discovered the dissolution mechanism for a mineral previously considered to be unrecoverable +discarded as waste, Brannerite (UTi2O6) is the most common refractory uranium mineral, +accounts for up to 15 per cent of uranium currently unrecovered in extraction, translating into tens of millions of lost dollars for industry, Howeeeeever, Dr Aleks Nikoloski +PhD candidate Rorie Gilligan have discovered how brannerite can be extracted relatively easily, all thanks to a counter -intuitive approach - MA/SWA/MU - Jul 30, 2015
www.sciencewa.net.au/topics/industry-a-resources/item/3656-d…
www.miningaustralia.com.au/news/new-uranium-extraction-proce…

"A new process has been uncovered that allows for the recovery of a mineral from uranium previously thought unrecoverable.

Scientists at Murdoch University have discovered the dissolution mechanism for brannerite, which was previously ignored and discarded as waste material due to its difficulty in recovery, according to Science WA.

Dr. Aleks Nikoloski and PhD candidate Rorie Gilligan uncovered the counterintuitive approach for the mineral, which currently accounts for 15 per cent of uranium unrecovered, after nearly a decade of research.


“The traditional wisdom in extractive metallurgy is that if you use more aggressive corrosive conditions, say by increasing the acid concentration, minerals will dissolve allowing the metal to come out, but it’s not the case with brannerite because of its chemical properties,” Nikoloski explained.

“While it can be extracted with high temperatures, high free acid concentrations and long leaching times, the process isn’t efficient or economical.

“By gaining an understanding of the chemical processes of brannerite, we have found a dissolution mechanism that supports effective extraction under relatively mild conditions.”

The scientists used a number of early studies from the 50s and 60s as a foundation for the extraction process.

“We took these as a starting point and applied more current knowledge,” Gilligan stated.

“We started by considering how brannerite behaves in the standard sulphuric acid/iron sulfate media and then looked at how it behaved when we introduced other substances, such as phosphates and fluoride, which are known to occur in natural deposits.

“There was no research into how these interacted with brannerite, so by taking a step-by-step approach we were able to better understand the mineral’s chemical processes.”

The researchers said early results exceeded expectations.

“At first I couldn’t believe the results. We were getting an extraction rate of 80 to 90 per cent for a mineral that was supposed to be refractory,” Nikoloski said.

While these initial recoveries are high, it is not yet known how high the cost outcomes will be on the uranium industry. "

[Popeye82]

Rio Tinto increases use of drones
www.miningaustralia.com.au/news/rio-tinto-increases-use-of-d…

"The ever-changing face of technology has seen the use of drones become commonplace in a number of areas of the mining industry.

Yesterday Rio Tinto aviation specialist Kevan Reeve spoke at the Perth SGS Symposium on the company’s use of Unmanned Aerial Vehicles (UAV) in operations.

In the past year Rio Tinto has planned and tested the use of drones for environmental and heritage surveys, inspections of equipment such as conveyors, pit wall inspections, gathering aerial imagery, thermal imaging, and geotechnical inspections.

Technology and Innovation Executive Greg Lilleyman said the company saw immense potential for drones to help extend the advantage Rio Tinto holds through the innovative use of technology, which can help to improve the safety and productivity of their operations.

“Information will be the single biggest differentiating factor between the mining operations of the past and those in the future, and drones can produce a wealth of information to allow us to make better decisions,” Lillyman said.

“Anyone can buy a drone and they’re easy to operate, but the trick is having the best minds working out what you do with them.

“We’re constantly thinking outside the box to imagine how they can be integrated into our mining operations to make complex tasks safer, quicker and cheaper, as well as working with regulators to meet their requirements.”

Lillyman said Rio Tinto was already using drones to monitor sites and inspect equipment, in order to minimise tasks safety risks to employees, as well as time and disruptions to operations.

“Other innovative uses we are finding include tasks like monitoring remote turtle nesting sites and spraying weeds as part of our environmental programs.

“Some of the future uses we can already see include monitoring geo-technical issues in difficult to access areas and inspecting vast stretches of infrastructure like power and rail lines, and we’re sure there will be many more.” "

[Popeye82]

China factory data roils copper stocks –Freeport falls 9%, Billions wiped from mining sector as Chinese manufacturing activity contracts to a six-and-half year low
www.mining.com/china-factory-data-roils-copper-stocks-freepo…

[Popeye82]

Extremely rare mineral found, in 1.2-billion-year-old meteorite impact in Scotland, the finding is more than double the age of the previous oldest known occurrence of reidite, believed to have formed about 450,000,000 years ago - M.com/CU/TIGeR/UoSA/GSoA - Sep 2, 2015

- Cecilia Jamasmie -
------> www.mining.com/wp-content/uploads/2015/09/Breakthrough-miner…
www.mining.com/extremely-rare-mineral-found-in-1-2-billion-y…
http://geology.gsapubs.org/content/34/4/257.abstract?sid=b0d…

"

- The team discovered the ancient ocurrence of reidite in shocked zircon from impact at Stac Fada in Scotland. -


A team of Australian geoscientists from Curtis University has discovered the earliest known occurrence of reidite, one of Earth’s rarest minerals that forms when shock waves from meteorite impacts hike up pressures and temperatures to extreme levels.

At 1.2 billion years, the finding is more than double the age of the previous oldest known occurrence, which is believed to have formed about 450 million years ago, the researchers say in a paper published by the Geological Society of America’s journal.

Working with the University of St Andrews, the team, led by Professor Steven Reddy from the Institute for Geoscience Research (TIGeR) at Curtin’s Western Australian School of Mines, discovered the reidite in shocked zircon at Stac Fada, Scotland.

“The discovery of this Precambrian occurrence indicates the potential for using the presence of reidite to indicate and record very ancient impact events,” Professor Reddy said in a statement.

“It is a breakthrough discovery that will help determine terrestrial impact events which have had a profound influence on Earth’s geological, geochemical and biological evolution,” he added.

Scientists first discovered the unusual high-pressure zircon in a laboratory in the 1960s. Reidite was finally identified in nature starting in 2001, at three impact sites: the Chesapeake Bay Crater in Virginia, Ries Crater in Germany and Xiuyan Crater in China.

Reidite is formed in a similar way than diamonds. Zircon morphs into reidite when shock waves from meteorite impacts trigger extremely high pressures and temperatures, equal to those deep inside the Earth where diamonds form. The pressure makes minerals tightly repack their molecules into denser crystal structures. Reidite has the same composition as regular zircon, but is about 10% denser.

The discovery, say the scientists from Curtis University, paves the way for developing reidite as a proxy for meteorite impact events that can be extended back in geological time to provide insights into Earth’s early impact record. "

[Popeye82]

Standard Chartered predicts six months of stagnation, Industrial metals face @least six months of stagnation, as market conditions in China deteriorate, +low prices are needed to curb supply, Standard Chartered Plc said, slashing forecasts for this year, +next

- Bank cuts metals forecasts, as China's recovery postponed

- LME index of metals declines for 4th month, in Aug
www.bloomberg.com/news/articles/2015-09-02/standard-chartere…

"Industrial metals face at least six months of stagnation as market conditions in China deteriorate and low prices are needed to curb supply, Standard Chartered Plc said, slashing forecasts for this year and next.

The bank cut its price outlook across base metals, lowering the prediction for copper in the fourth quarter by 28 percent and for aluminum by 24 percent. China’s supply-chain activity will remain constrained at least until the Lunar New Year holiday in February, it said.


“We now expect conditions to deteriorate further this year,” analysts Nicholas Snowdon and Paul Horsnell wrote in a note dated Sept. 1. “The key balancing act for price dynamics will likely have to come from the supply side.”

Standard Chartered joins Australia & New Zealand Banking Group Ltd. in cutting forecasts after prices slumped because of a slowdown in China, the world’s biggest consumer. The London Metal Exchange index of six base metals fell for a fourth month in August as copper and aluminum plunged to six-year lows. Aluminum production needs to decline, while nickel and zinc inventories have to shrink before prices recover, Standard Chartered said.

“Copper is the only metal where peak supply is on the horizon and visible stocks remain low, suggesting that it is the best placed to outperform from the price lows achieved in the next two quarters,” the analysts wrote. "

[Popeye82]

Tin industry seeing steady increase, in recycling: ITRI, Recycling in the tin industry has increased steadily over the past decade, with the proportion of tin use accounted for by 2ndary material hitting 32% in '13, industry body ITRI said, citing its most up-to-date data set - M.com/ITRI/P, LONDON - Sep 2, 2015
www.platts.com/latest-news/metals/london/tin-industry-seeing…

"Recycling in the tin industry has increased steadily over the past decade, with the proportion of tin use accounted for by secondary material hitting 32% in 2013, industry body ITRI said, citing its most up-to-date data set.

"Taking into account the combined use of primary refined, secondary refined and secondary alloy re-use, we estimate that around 429,400 mt of tin was used in 2014," it said.

World refined tin demand increased 3.5% to an estimated 361,000 mt in 2014.

"Secondary refined tin production remains strong and an important supply source for tin users at around 62,600 mt in 2014, up from 58,000 mt in 2013," ITRI said.


At nearly 49% of the global market, solder is greatest use of tin, although its share of the market has reduced slightly.

Tin chemicals overtook the tinplate sector in 2014 to become the second biggest tin use sector globally, accounting for an estimated 15.6% of the market.

The Platts tin premium assessment for 99.9% material -- in-warehouse Rotterdam -- has remained at $550-600/mt plus LME cash for a number of months.

One recycler said recently of demand: "The market is not so bad [demand-wise]. It is keeping up. I have been a little short of material."

Premiums remained around $550-$600/mt for higher grade material, the recycler said.

--Ben Kilbey, [e-mail]
--Edited by Dan Lalor, [e-mail] "

[Popeye82]

Antwort auf Beitrag Nr.: 50.435.976 von Popeye82 am 19.08.15 15:51:41

Glencore fights back —to slash debt by $10,000,000,000, halt copper mines in Africa, Mounting pressure from investors has forced the firm to come up with a $10,000,000,000 package of debt-reduction measures
www.mining.com/glencore-fights-back-to-slash-debt-by-10bn-ha…

"Mining and commodities giant Glencore (LON:GLEN), which in recent weeks become the poster child of how hard companies have been hit by a brutal sell-off in raw materials, is fighting back.

The Swiss-based company unveiled Monday a $10 billion package of debt-reduction measures, which include issuing up to $2.5bn of new shares, cutting dividends, selling assets and looking to offload a stake in its agricultural business to a third party.

Glencore also said it plans to suspend production at its copper mines in the Democratic Republic of Congo and Zambia, in a move that it says will take 400,000 tonnes out of the market

Glencore also said it plans to suspend production at its copper mines in the Democratic Republic of Congo and Zambia, in a move that it says will take 400,000 tonnes out of the market and potentially provide a boost to metals prices.

Investors reacted positively to the news, sending the company’s shares up about 12% before paring gains a touch to trade 6.5% higher at about 131 pence at 12:40 pm GMT.

At the same time, the announcement of a upcoming stoppage at Glencore’ Mopani operation in Zambia and the Katanga facility in the DRC had an immediate effect on copper prices, with the red metal climbing more than 1% to $5,192 a tonne on the London Metal Exchange.

Shanghai Futures Exchange copper rose 0.8% to 39,370 yuan ($6,183) a tonne.

Glencore CEO Ivan Glasenberg said in a statement that the measures announced today wouldn’t affect the firm’s core business activities and overall franchise value.

However, he acknowledged that “recent stakeholder engagement in response to market speculation around the sustainability of our leverage highlights the desire to strengthen and protect our balance sheet amid the current market uncertainty.”


BoAML upgrade

Bank of America Merrill Lynch upgraded the company's rating to neutral following the plan's unveiling.

"Unlike other management teams in the sector, Glencore has acknowledged its debt problem and is taking steps to address it," BoAML said in an e-mailed note.

"We think the plan goes some way to addressing some of our concerns on Glencore's financing, we do still have a question mark on Chinese demand and hence (only) an upgrade to Neutral. Even after the reductions, the company will still be quite highly geared," the note said.

Glencore swung to a net loss of $676 million in its first half of the year from a profit of $1.7 billion in the same period last year due to write downs in the value of its mines and oil fields, which have been hit by a price slump.

The company is now worth a fraction of what it was when it made its first attempt a year ago at a "merger of equals" with Rio Tinto (LON:RIO), which is valued at $92.6 billion. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.580.026 von Popeye82 am 08.09.15 15:07:38

These "Two Major Miners Are Giving Up, On The Markets"
http://piercepoints.com/glencore-volcan-copper-zambia-africa…

"How long will it take before metals prices start to rebound? No one knows for sure — but one of the indicators to watch is when the world’s biggest mines begin to shut down because of poor economics.

And we got not one, but two, examples this week of mine closures from some of the world’s largest metals producers.


The first was base metal major Glencore. With the company saying Monday it will close two of its largest copper mines in Africa — for at least 18 months.

The company said it will idle its Katanga mine in the Democratic Republic of Congo, as well as its Mopani mine in Zambia. Management noted that the 18-month shutdown at these mines will be used to upgrade site facilities, including installing a new whole ore leach at Katanga as well as new shafts and concentrators at Mopani.

Glencore is thus not giving up forever on these operations. But the move does show that management is thinking currently-lower prices make this an opportune time to close for maintenance.

The loss of supply from the two mines will be significant. Amounting to 400,000 tonnes of copper metal — or about 2% of global supply. The closures also represent 28% of production from the DR Congo, and 26% of Zambia’s overall output.

And it’s not just Glencore that’s taking such action.

Major Peruvian silver-lead-zinc producer Volcan Minera also said that it is conducting a review of all of its mining operations. With management noting that “any operation that is unprofitable at current prices will be temporarily suspended.”

The company hasn’t yet announced any specific closures across its portfolio of Peru mining properties. But at today’s silver, lead and zinc prices, it’s more than likely the review will turn up several candidates for shutdown.

All of which suggests that metals prices are now squarely affecting project economics. Which should signal changes coming in the supply-demand dynamics of these markets.

Here’s to low prices and cures,

Dave Forest "

[Popeye82]

[Popeye82]

Nuclear power to grow fastest in more than 20 years, World Nuclear Association report says declining secondary supply, Asian +Middle East reactor builds necessitate whole new mined uranium pipeline by 2025
www.mining.com/nuclear-power-to-grow-fastest-in-more-than-20…
www.world-nuclear.org/World-Nuclear-Association/Publications…

"A new report by the World Nuclear Association estimates global nuclear power generation capacity should grow by more than 45% over the next 20 years and a new pipeline of uranium mines will be needed after 2025.

The 40-year old association's bi-annual 2015 Nuclear Fuel report released on Thursday forecasts global nuclear capacity will grow to 552 gigawatts equivalent (GWe) by 2035 from 379 GWe or roughly 11% of world electricity supply at the moment.


The report states that until the Fukushima accident in Japan, the outlook for nuclear power around the world was improving, but despite the March 2011 disaster, "many countries are putting more emphasis on satisfying environmental and security of supply objectives in their energy strategies, which should favour increased nuclear power."

The prospects for new reactor build continue to be strong in China, India and Korea as well as in a number of countries in the EU and the Middle East, but electricity demand growth in countries where nuclear power is well-established continues to be slow.

"Nuclear electricity output is set to increase at a faster rate over the next five years than we have seen for more than two decades," said Agneta Rising, director general of the association which started life in 1975 as the Uranium Institute.

To feed the rise in global capacity, the world will likely need 103,000 tonnes of elemental uranium or tU (equal to roughly 267m pounds of U3O8) by 2035, up from 56,250 tU (146m pounds U3O8) in 2014, according to the report.

Secondary supplies of uranium are gradually playing a diminishing role in the world market according to the report, but will continue to be an important source of supply as underfeeding of enrichment plants is expected to add significant quantities of uranium to the market in the period to 2025.

World known resources of uranium are more than adequate to satisfy reactor requirements to well beyond 2035, but depressed uranium prices have curtailed exploration activities and the opening of new mines and some mines have stopped production.

The report concludes that rapid uranium demand growth in a number of countries, particularly China, coupled with a limited contribution of secondary supplies will result in the need for additional mined uranium.

Nevertheless, the market should still be adequately supplied to 2025 according to the report but only if all planned mines and those under development start up as forecast. After 2025 however a new supply pipeline will have to be developed to meet demand.



- Source: World Nuclear Association -


Image of cooling tower climbing wall at Wunderland Kalkar – a never-commisioned nuclear power plant turned into amusement park in Germany – by Koetjuh "

[Popeye82]

World's largest diamond producer Debswana slashes output target, the company, a joint venture between Botswana +De Beers, said the measure follows a downturn in the global diamond market
http://af.reuters.com/article/investingNews/idAFKCN0RB0UW201…
www.mining.com/worlds-largest-diamond-producer-debswana-slas…

"Debswana Diamond Co., the world's No.1 diamond producer by sales value, cut Friday its 2015 production target to 20 million carats from 23 million carats.

"We had to revise our 2015 growth forecast from 4.9% to 2.6% due to (a) downturn in the global diamond market," a spokesman for the joint venture between Botswana and De Beers, told Reuters.


A mix of weak demand and low prices has hit the southern African nation, which is the world’s largest producer of diamonds, quite hard. Last month, Botswana cut its 2015 economic-growth forecast by almost half because of it and said it now expects expansion at 2.6% compared with a projection of 4.9% announced by the government in February.

Rival De Beers, a unit of Anglo American (LON:AAL), lowered its 2015 production target in July for a second time this year to between 29 million carats and 31 million carats from an initial projection of as much as 34 million carats, citing weakening demand for the precious rocks.

Okavango Diamond Company (ODC), another of Debswana’s competitors, saw sales drop by more than 20% in the first six months of the year due to low demand.

Diamonds account for more than 70% of Botswana’s export revenue. "

[Popeye82]

IEA predicts huge collapse, in US oil output, next year, the agency believes U.S. tight oil supply will sink by nearly 400,000 barrels a day in 2016
www.mining.com/iea-predicts-huge-collapse-in-us-oil-output-n…
www.iea.org/oilmarketreport/

"Non OPEC oil producers, including the United States, will have to make dramatic cuts next year as persistently low crude prices are taking a toll in the industry while giving Saudi Arabia a chance to regain some of its lost clout in global markets, the International Energy Agency said Friday.

In its closely watched monthly report, the IEA said that tight oil — a type of expensive-to-pump crude that has driven U.S. production in recent years —would drop by 400,000 barrels a day in 2016, a decline that already began in July.

"Oil's price collapse is closing down high-cost production from Eagle Ford in Texas to Russia and the North Sea, which may result in the loss next year of half a million barrels a day — the biggest decline in 24 years,” the report said.


The agency, which advises the world's biggest economies on energy policy, also expects that low prices will make global oil demand climb to a five-year high this year.

The IEA predictions are among the gloomiest for American oil production to emerge since U.S. crude prices crashed last month to less than $40 a barrel for the first time since the financial crisis.

At the same time, the report is one of the most bullish for the Organization of Petroleum Exporting Countries (OPEC) since the cartel shocked markets last year by deciding against cutting production, choosing to fight for market share and depress the output of higher-cost producers such as the U.S.

The agency expects China, the world’s second-largest oil consumer, to keep its crude purchases high despite the recent stock market turmoil, currency devaluation and negative macroeconomic news. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.580.026 von Popeye82 am 08.09.15 15:07:38

Chile’s Codelco to cut top positions, in response to weak copper prices, Chief executive Nelson Pizarro warned Codelco is READY TO “CUT COSTS TO THE BONES,” +revealed the layoff process has already started
www.mining.com/chiles-codelco-to-cut-top-positions-in-respon…
http://diario.elmercurio.com/2015/09/09/economia_y_negocios/…

"Chile-owned Codelco, the world’s top copper producer, will have to start cutting managerial positions as a dramatic cumulative decline in the price and demand of the red metal has taken a toll in the company’s balance sheet.

Speaking to local newspaper El Mercurio (in Spanish), chief executive Nelson Pizarro warned Codelco is ready to “cut costs to the bones,” and revealed the layoff process has already started, though he didn't provide details.

One of the first steps will be to cut about 25% of the executives at its Salvador division, where there are no collective agreements made with unions.


Plunging prices have forced top producers to consider cutting production, delaying new projects and slashing jobs to save money and mitigate oversupply.



- Source: KitcoMetals. -


Early this week, mining and commodities giant Glencore (LON:GLEN), unveiled a $10 billion package of debt-reduction measures, which include issuing up to $2.5bn of new shares, cutting dividends, selling assets and looking to offload a stake in its agricultural business to a third party.

Glencore also said it plans to suspend production at its copper mines in the Democratic Republic of Congo and Zambia, in a move that it says will take 400,000 tonnes out of the market and potentially provide a boost to prices.

The cuts are the deepest announced yet in the copper market, but they do add to a growing producer response to low prices, which dropped below $5,000 a ton in August for the first time since the financial crisis. In less than four months prices for the industrial metal have sank 25%.

Freeport-McMoRan (NYSE:FCX), the world's largest publicly traded copper miner, said last month it would slash its mining employees and contractors by 10%. It also plans to suspend operations at a mine named Miami in Arizona and decrease output at both its Tyrone mine in New Mexico and its majority-owned El Abra mine in Chile.

Codelco’s board will hold an extraordinary meeting on Sept. 29, after which it is expected to reveal more details on the planned cuts. The company is hoping to cut costs by around $1 billion this year and is 60% on its way to achieve that target. "

[Popeye82]

http://www.mining.com/web/graphite-to-2020-charging-ahead/?u…

[Popeye82]

Antwort auf Beitrag Nr.: 50.517.195 von Popeye82 am 29.08.15 16:39:46

Rio saves $200,000,000 a year using robots, big data, Rio's already cut $1,000,000,000 fat in the Pilbara–autonomous vehicles, +data analytics will save another $200,000,000 a year on maintenance over the next 3 years
www.miningweekly.com/article/rio-targets-further-cost-cuts-i…
www.mining.com/rio-saves-200m-a-year-using-robots-big-data/?…
------> www.riotinto.com/ironore/mine-of-the-future-9603.aspx

"

- Source: Rio Tinto Mine of the Future -


Last month world number two mining company Rio Tinto (NYSE:RIO) announced a huge slide in profit for the first half of the year with net earnings collapsing by 80%.

Profits dropped from $4.4 billion last year to $806 million in the six months to end-June largely on the back of slump in the price of iron ore.

To give an idea of just how reliant Rio has become on the fortunes of iron ore the company calculated that every 10% movement in the price equates to a just over $1 billion impact on its underlying earnings.

The Melbourne-based company said cost reductions, favourable exchange rates, volume savings and lower energy costs helped to offset the decline in the iron ore price.

Pilbara cash unit costs were driven down to $16.20 per tonne in H1 2015, compared to $20.40 per tonne during the same period last year and $18.7 in H2 2014.

Rio's said it's cut $1 billion of fat from its iron ore business since 2012.

And it's not stopping there.

Rio's technology and innovation CEO Greg Lilleyman told Mining Weekly its fleet of autonomous trucks and better analytics, part of its "Mine of the Future" programme will deliver "significant group-wide productivity improvements":

"Rio Tinto’s first-mover status in autonomous equipment has resulted in significant productivity gains while our use of big data analytics has allowed us to safely extend maintenance cycles.

"These productivity gains, combined with our asset management programme, have us on a pathway to safely reduce maintenance costs by about $200-million a year over the next three years."


From a building at Perth airport, world number two miner Rio Tinto manages 15 mines, 43 trains and four ports some 1,500 km from the West Australian capital.

By this time last year the robot army deployed in the Pilbara region of Western Australia had already moved 200 million tonnes and traveled nearly 4 million kilometers.

Rio is also looking at autonomous drills and after spending $520 million on the project Rio said trains should also become remotely controlled this year. "

[Popeye82]

It's Official: India Makes A Big Move To Reduce Gold Demand
http://piercepoints.com/india-gold-monetization-bullion-impo…

"I’ve been tracking India’s plans to revolutionize its gold markets for several months now. And last week we got the final stroke in this saga.

That came when the Indian government approved the so-called “gold monetization” scheme. One of the big measures aimed at reducing gold import demand in the country.

India’s national cabinet passed a final version of the monetization plan last Tuesday. With the draft document creating a system where Indians holding private gold will be able to deposit it at banks — and then earn interest on their bullion holdings.


The government plans to then make the deposited gold available to buyers across India. With the aim of reducing gold imports from outside the country — which currently run nearly 1,000 tonnes yearly.

India’s cabinet also approved a “gold bond” program. Where citizens will be able to buy interest-bearing bonds back by gold, rather than owning physical gold itself.

On the surface, these plans look like they could have a marked effect on the global gold market. Estimates are that private citizens across India hold tens or even hundreds of millions of ounces of gold — which could become available to the banking system if the monetization program is well received.

The key will be whether the program does indeed get strong uptake from the public. Versions of the scheme have been tried in the past, and received little deposited bullion — mainly because interest rates on deposits were relatively low.

The government has said it will address this issue and raise interest rates this time around. But the plan approved by cabinet failed to give any specific guidance on prescribed rates — instead noting that interest payments would be set by market conditions at the time of the deposit.

The government expects to announce exact dates for implementation of the program soon. Watch for this news, and the success of the new plan once it does become reality.

Here’s to interesting times,

Dave Forest

[e-mail] "

[Popeye82]

Teck Resources(T.TCK.B) credit rating downgraded, to 'below investment grade', by Moody's - SH/TCP, TORONTO - Sep 15, 2015
www.stockhouse.com/news/newswire/2015/09/14/teck-resources-t…

"Moody's Investors Service has downgraded the credit rating of Teck Resources Ltd. (TSX:TCK.B, Forum) to below investment grade as low commodity prices and high spending squeeze the Vancouver-based miner.

“We expect prolonged commodity price weakness and sizable investment spending will cause Teck's financial leverage to remain well in excess of typical investment grade thresholds through at least 2017,” said Darren Kirk, Moody's vice-president and senior credit officer.

The agency said Monday that Teck now has a senior unsecured rating of Ba1, compared to its previous Baa3. Moody's said the outlook remains negative.


Teck has a 20 per cent stake in the $13.5-billion Fort Hills oilsands mine under construction north of Fort Murray, Alta. Suncor Energy Inc. (TSX:SU, Forum) is the operator with a 40.8 per cent interest. France's Total (NYSE:TOT, Forum) owns the rest.

Moody's said Teck's “significant spending” on Fort Hills during a time of weak oil prices will cause the company to consume $1.5 billion in cash next year and another $1 billion in 2017.

Crude prices have been hovering at around US$45 a barrel - about half of what they were a year earlier.

Shares in Teck, which is focused on steelmaking coal, copper, zinc and energy, closed down 26 cents or 2.99 per cent at $8.43 Monday on the Toronto Stock Exchange. "

[Popeye82]

Vietnam begins construction of region first potash mine, one of the largest outbound investments made by a Vietnamese firm in history
http://vietnamnews.vn/politics-laws/275733/prime-minister-at…

[Popeye82]

US coal industry’s cost cuts not enough to offset weak prices, average sales margins for coal miners have fallen by about half since '11, forcing three of the U.S.'s largest publicly traded producers to file for bankruptcy protection, this year
www.mining.com/us-coal-industrys-cost-cuts-not-enough-to-off…
www.snl.com/InteractiveX/Article.aspx?cdid=A-33807972-9778&m…

"The U.S coal industry has had a rough time in recent years. Between late 2010 and the end of 2014, the top ten publicly-traded coal companies saw their combined share price value drop by more than half, as hundreds of plants closed and thousands of employees were laid off.

But the extreme cost cutting measures adopted by U.S. coal producers have not been enough to offset the effects of depressed commodity prices, an SNL Energy analysis of coal production costs shows.

average sales margins for coal miners have fallen by about half since 2011, forcing players to cut production and implement severe costs cuts.

According to the report, average sales margins for coal miners have fallen by about half since 2011, forcing players to cut production and implement severe costs cuts. Despite the efforts, three of the nation's largest publicly traded producers, as well as several smaller private producers, have filed for bankruptcy protection this year.

One of them was Alpha Natural Resources (OTCMKTS:ANRZQ), the nation’s largest producer of metallurgical coal, which declared Chapter 11 bankruptcy last month.

Earlier, Murray Energy Corp. — one of the top producers in Northern Appalachia and the Illinois Basin — unveiled its plans to layoffs around 1,800 workers. Another West Virginia-base producer, Patriot Coal Corp., filed for bankruptcy protection for the second time in early May, and said it was engaged in negotiations for the sale of substantially all of its operating assets to a potential buyer.

SNL’s report shows how sales margins have tumbled amid a much bigger drop in coal prices:


Per-ton sales revenues for those same eight companies averaged $36.56 per ton in the second quarter, down by 7.3% from a year earlier and off more than 18% from the last quarter of 2011. Average margins decreased to $7.11 per ton as a result, down 24% from the second quarter of 2014 and 49% below the end of 2011. Average revenues include new spot sales and shipments under legacy contracts.

The revenue decline has been particularly steep for coking coal-heavy producers that enjoyed a surge in pricing in 2011 from rapid economic growth in China and supply constraints tied to flooding in Australia.


President Barack Obama’s new Clean Power Plan, aimed at reducing carbon emissions, ISN’T likely to make things any easier for U.S. coal producers.

According to recent report by BB&T Capital Markets Inc., the emissions ceiling imposed will mean that the coal sector will only have 650 million tons of annual demand, down from the one billion the industry was used to not long ago.



- Courtesy of SNL Energy. -


The country’s total coal production has shrunk about 15% since 2008, and coal stockpiles keep growing at mines as coal-fired power plants shut down month after month.

The commodity, which once fired half of the country’s power now accounts for just under 40%. And the Energy Department projects that percentage will slide further, to 34% in 2040, as power plants turn to natural gas and renewables like wind and solar power. "

[Popeye82]

New type of diamond discoverd, in frozen lava in Russia


www.miningaustralia.com.au/news/new-type-of-diamond-discover…
http://link.springer.com/article/10.1134%2FS1028334X14010097
http://минобрнауки.рф/%D0%BD%D0%BE%D0%B2%D0%BE%D1%81%D1%82%D…
www.miningaustralia.com.au/news/first-ever-diamond-indicator…

"A new type of diamond has been uncovered in frozen lava in Russia.

Geologists studying the Tobachik volcano on the Siberian Kamchatka peninsula, which erupted in 2012-13, came across the stones which reportedly have not formed under typical conditions.

According to geologists from the St. Petersburg Mining Institute, the Kamchatka Institute for Volcano Studies and Seismology and the Komi Republic Institute of Geology, the crystals were not formed under magmatic melt conditions, but instead through school crystallisation caused by volcanic hydrocarbon gases stimulated by the shock of electrical discharges in thunderstorms.


This is incredibly similar to how synthetic diamonds are created.

The synthetic diamond process was first patented in 1964, and involves producing diamonds from gas using strong electric discharges.

The new diamonds have been dubbed Tolbachik diamonds.

“The diamonds seemed unusual to the geologist, under the microscope they looked much more like synthetic diamonds,” a statement from Russia’s Ministry of Education and Science explained.

“But those were natural diamonds that differed from all previously known kinds of diamonds in terms of the majority of their mineral and geo-chemical characteristics – from combustion temperature to the trace component composition.”

The geologists state the frozen lava bears hundreds of diamonds, albeit small in size.




“In terms of their size, the Tolbachik diamonds are relatively large for lava diamonds, ranging in size from 0.250 to 0.700 mm. All these facts led the scientists to make preliminary conclusion that at least some of the lava is diamond-bearing,” the Ministry said.

This major discovery follows on from the uncovering of a diamond indicator plant earlier this year.




Studies have uncovered an indicator plant, named Pandanus candelabrum, which has been found to grow only above kimberlite pipes, the more traditional source of diamonds. "

[Popeye82]

This "Legendary Gold Mine —And 80 Others— Are Trying To Re-Open"
http://piercepoints.com/kolar-gold-fields-india-mine-mining-…

"I mentioned yesterday how global gold production hasn’t fallen much in the face of lower prices.

And this week we got some indications that supply could actually expand. With one of the world’s most famous gold mining districts looking to re-open, for the first time in nearly 15 years.

The place is the Kolar Gold Fields in India. One of the world’s legendary gold mines — with a production history that dates back to 1880.


According to local press, India’s government is very close to putting forward a plan to revive the Kolar. With officials saying they will table the scheme “within a month”.

The effort will reportedly include rehabilitating existing mining infrastructure — which consists largely of underground facilities, some extending two to three kilometres below surface. As well as reprocessing large amounts of gold-bearing tailings left behind by previous mining operations.

The government indicated that much of this work will be put out to tender for the private sector. It’s unclear whether local or international firms would be favored – although previous attempts to tender out the mine have largely attracted attention from local Indian firms.

The district certainly has proven potential, having produced an estimated 25 million ounces of gold over its 120 years of operations. Mining was shuttered here in 2001 on low profitability — and the facility has never operated during the period of historically-high gold prices that’s prevailed over the last 15 years.

Those higher prices could open the door to modern mining methods — of the kind that might be able to rehabilitate this former giant producer.

That said, there are other issues here. Most notably legacy employment contracts and potential environment responsibilities — related to state-owned firm Bharat Gold Mines Ltd, which operated Kolar from 1972 up until the 2001 closure, but has never formally been dissolved.

At the very least, this is a sign that India is continuing to push for ways to increase its gold supply. With officials from the country’s mining ministry telling the press that they could auction up to 80 more historic gold mines around the country.

Watch to see if these projects do indeed go out for bids. And the identity of parties taking control.

Here’s to bringing back a legend,

Dave Forest "

[Popeye82]

Antwort auf Beitrag Nr.: 50.580.026 von Popeye82 am 08.09.15 15:07:38

Glencore to sell part of its Chile, Peru copper output
www.globalminingobserver.com/glencore-talks-franco-nevada-si…
www.mining.com/glencore-to-sell-part-of-its-chile-peru-coppe…

"Mining and commodities giant Glencore (LON:GLEN) is said to be in talks with five companies to sell portions of the future production of three of its copper mines in Chile and Peru.

According to Global Mining Observer, the firms involved in the negotiations are Franco-Nevada Corp ((TSE:FNV)), Silver Wheaton (TSE, NYSE:SLW), Royal Gold Inc. (TSE:RGL) and two other unnamed miners.


The alleged deals involve Glencore's Collahausi mine in Chile, as well as Antamina and Antapaccay copper mines in Peru.

The potential agreements, known as streaming transactions, are a kind of alternative financing in the mining industry, in which a firm such as Silver Wheaton or Franco-Nevada provides funds upfront to a miner in exchange for the sale of a fixed amount of future production at a discounted price.

Collahuasi, one of the world's largest copper mines, produced around 470,000 tonnes of copper last year, or about 8% of Chile's total output.

In the first half of 2015, production at the mine — a joint project of Glencore, Anglo American (LON:ANGLO) and several Japanese firms — fell 10% compared to the previous year, impacted by maintenance at a processing mill and other factors.

Antamina mine, located in Peru’s central Ancash state, is the country’s top copper producer by output, and it also yields zinc, lead, and silver. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.612.987 von Popeye82 am 13.09.15 01:11:06

Uranium Future Outlook: Uranium Price Forecast, for 2016, +Onward
www.u3o8.biz/s/MarketCommentary.asp?ReportID=723333&_Type=Ma…

"The uranium price has trended downward since the 2011 Fukushima disaster, and has hovered below the $40 mark throughout 2015. However, there is a laundry list of major catalysts expected to help move the uranium price in the coming years, and many see a supply deficit in the cards by 2020.

As of September 17, the U3O8 spot price was sitting at US$37.25, unchanged from the previous week. And while the price has moved up only slightly in the past couple of months, analysts believe that's set to change. With that in mind, the Investing News Network has put together uranium price forecasts from different experts to give investors an idea of what to expect.


Uranium price forecast: Cantor Fitzgerald

When Cantor Fitzgerald released its Quarterly Commodity Outlook at the end of July, it noted that in Q2 2015, the uranium spot price came in under its estimate of US$40 per pound, instead hitting US$36.79. At the time, Cantor Fitzgerald Senior Analyst Rob Chang explained that the lower price was mainly due to utilities refraining from both signing contracts and buying.

"The buyers themselves know the prices are going to be a lot higher and they fully see that in the future they are going to pay a lot more --- double, maybe even triple. But it is a bureaucracy, they need to get approvals from others, and it's difficult to justify to the senior board to lock in a contract at US$45, US$50, US$60 when you can just as easily walk into the market right now and buy it for US$36. And they have been right so far," Chang said, adding that the premise that ample inventory is readily available has also kept buying at bay.

While the firm's Q2 prediction missed the mark slightly, Cantor Fitzgerald is still firm on its spot price predictions for the next three years, and expects to see the price at US$50 in 2016, US$60 in 2017 and US$70 in 2018. Chang said he expects it will be sales contracts from utilities that move the price in the short term.

"At some point, someone is going to have to jump in and buy and others will do the same --- the spot market is so thin that it will show. Just like last year, when a few buyers came in it went from US$28 to the US$40 range really quickly," he said.


Uranium price forecast: Dundee Capital Markets

Dundee Capital Markets has a slightly higher outlook for the spot price in 2016, and expects it to reach US$55 per pound. As for 2017 and 2018, the firm expects the price to flatline at $65 per pound. In regards to term volume, which according to Dundee Senior Analyst David Talbot is anything contracted for longer than 12 months, contracts made in 2016 should fall in the $65-per-pound range; for 2015, the firm expects term volume to be $58 per pound.

"Following a contraction below the $10 per pound historical average when spot hit US$44.00 per pound with term flat at US$45.00, the term market reacted with term prices rising to US$49 per pound. Term hasn't shifted from that level since although spot has settled to reflect a widening of the spread," Talbot said in a research note. "Term activity has been somewhat slow this year but soon to-be US ISR producer Peninsula Energy (ASX:PEN) negotiated contracts at US$49 per pound in December 2014. With only 80 million pounds term volume over the past two years, we believe that contracting must accelerate to offset the nearly 360 million pounds of uranium used in nuclear reactors over the same period. The 2016-17-18 period sees a tremendous increase in uncovered demand."


Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article. "

[Popeye82]

They' "re Giving Away Cash To Help Copper Miners Here "
http://piercepoints.com/chile-copper-mining-emergency-loans-…

"I wrote last week about how the copper market is starting to adjust to lower prices. With a number of significant mines closing down amid the currently-depressed market.

But news this week shows the exact opposite is happening in one of the world’s most important copper-producing centers.

That’s Chile. Where the government is moving to help unprofitable mining operations stay open.


Chile’s Mining Minister Aurora Williams said Tuesday that the government will give direct financial aid to copper producers. Handing out “emergency loans” to help miners weather the current market.

The loans will be given to medium-sized copper producers across the country — those with output of less than 50,000 tonnes per year. In total, the rescue package will reportedly apply to just over 20 companies.

The amounts being loaned to these firms are substantial. Amounting to the equivalent of about 10 cents per pound of copper produced.

That could make the difference between profit and loss. A fact that the government is likely counting on, in order to curb mine shutdowns and employee layoffs in the copper mining sector that is key to Chile’s economy.

While this is laudable in reducing the human costs of the current downturn, it could have some unexpected effects for copper supply. No exact details have been released on the total production from the companies qualifying for loans — but it could be up to a million tonnes of copper metal yearly. Which will now stay on the market, even if it’s technically unprofitable.

Moves like this could delay the recovery in the copper price that has been setting up lately. Chile’s copper loans are right now being offered only for the September to December 2015 period — so it will be critical to see if the government extends the program into 2016, if prices stay low.

Here’s to a helping hand,

Dave Forest "

[Popeye82]

Kimberley Diamonds former chairman arrested, with misleading the market
www.australianmining.com.au/News/Kimberley-Diamonds-former-c…

[Popeye82]

"Buying Into Zinc? Beware Of This Big-Company News "
http://piercepoints.com/zinc-mining-metal-natural-resources-…

"Zinc had been shaping up as one of the bright spots in commodities. But news late last week suggests that the current downtrend in the zinc price may get worse before it gets better.

According to a report from Reuters Friday, major zinc producer Glencore may be dumping zinc metal on the market. Making a price recovery very difficult in this market.


Here's the notable thing: zinc inventories at the key LME warehouse in New Orleans have surged 43% since the beginning of August -- to nearly 609,000 tonnes.

And that warehouse is dominated by supply from Glencore. With the major owning two-thirds of the delivery depots in New Orleans.

It makes sense that this big inflow of metal would be coming from Glencore. With the firm saying last month that it wants to cut its marketable inventories of metals by up $1.5 billion.

Glencore's inventories include large amounts of zinc concentrate and zinc metal. All of which suggests that the major may be liquidating its zinc holdings through sales in New Orleans.

If that is the case, it has major implications for the zinc price. A full $1.5 billion is a lot of metal to hit the market -- with these sales likely playing a role in the nearly 8% decline the zinc price has seen over the last 10 days.

More concerning is the fact that Glencore's overall inventories total an incredible $23.6 billion worth of metal. And with the company moving to shore up its balance sheet, more of this supply could be sent back to the open market over the coming months, or even years.

This will be a weight on the zinc price -- which has now dropped over 30% since it hit a May high of $1.10 per pound. Today, zinc is actually selling near a five-year low.

That's a stark contrast to the bullish arguments a year ago -- which said zinc would soar, as several big mines around the world closed for good.

The Glencore sales of course won't be a permanent headwind. So it may be wise to hold off on big moves in this space until the company shows signs of having completed its sales program.

Here's to zinc-ing it through,

Dave Forest "

[Popeye82]

This "Gold Miner Is Buying Something, No One Expected"
http://piercepoints.com/gold-sibanye-south-africa-coal-water…

"The preference for gold miners these days has been to sell assets. Just this week, major bullion producer Barrick Gold said it will likely sell six mines in the U.S. by year end -- in order to reduce debt.

That's why it was surprising in the utmost last week to see one gold miner making a big asset purchase. In a commodity that's not even gold -- in fact, not even a metal.

The firm is South African miner Sibanye Gold. A company that's recently been in the news after buying a slate of South African platinum mines from Anglo American.

And last Thursday, Sibanye said it is making another unexpected purchase. Buying part of a coal mining operation.


The company announced it will buy debt in South African coal developer Waterberg Coal Group -- in the form of an A$22.5 million convertible note. Sibanye will also invest A$8.5 million of working capital into Waterberg Coal.

Overall, the new agreement gives Sibanye the right to acquire up to a 51% ownership in Waterberg through additional investments over the 18 months following the close of the initial deal.

Which all begs the question: why? What is management seeing here that's causing them to spend, at a time when most gold miners are frantically trying to preserve cash?

In this instance, Sibanye is looking to the future. With the purchase aimed at securing coal supplies within its operating sphere -- which could help ensure access to steady electricity.

Sibanye said earlier this year that it wants to build its own dedicated power plant -- of between 200 and 600 MW capacity. A move that would insulate the company from high power costs in South Africa, as well as limited availability of power that's been hitting the mining sector of late.

Waterberg Coal Group holds a massive coal endowment in South Africa's northeastern Limpopo province. In total, the company has identified 3.4 billion tonnes of coal here.

Waterberg Coal however, has yet to begin mining, with the project being outside of South Africa's main coal-producing region of Mpumalanga. And the challenges of bringing on a frontier mine here pushed the company into bankruptcy earlier this year.

Sibanye is thus buying cheap into a big asset. Of the kind that could support its ambitions in power generation.

This is an out-of-the-box move, which could give Sibanye a big leg-up in South Africa's mining sector. Watch to see how this unique strategy pays off.

Here's to knowing what drives you,

Dave Forest "

[Popeye82]

Mining supply giant Caterpillar(CAT) slashing 5k jobs, as industry lags
www.stockhouse.com/news/newswire/2015/09/24/mining-supply-gi…

"Caterpillar (NYSE:CAT, Forum) is cutting as many as 5,000 jobs as the construction and mining equipment maker pushes to reduce costs while dealing with downturns in key markets that it serves.

The Illinois-based heavy equipment company says it faces challenging conditions in key sectors, such as mining and energy and estimated the job cuts and other expense reductions will reduce annual operating costs by around US$1.5 billion.


Caterpillar also is dropping its 2015 revenue forecast by $1 billion to about US$48 billion, and it says sales for 2016 should be about five per cent lower.

The company's stock fell to US$64.65 in intraday trade at the New York Stock Exchange, its lowest level in more than a year, before regaining some strength. The shares were down 6.5 per cent at US$65.65 at mid-morning.

Shares of Finning International (TSX:FTT, Forum), the world's largest Caterpillar dealer, were down 8.1 per cent in Toronto. Earlier, the Vancouver-based company's stock hit an intraday low of C$18.79 - near a multi-year low of $18.57 set one month ago.

Caterpillar said most of the job cuts announced Thursday will occur in 2015 in its salaried and management workforce. It said total cuts could exceed 10,000 people as the company considers factories and manufacturing sites to close through 2018.

The company employs more than 126,000 people worldwide. It has trimmed its total workforce by more than 31,000 since the middle of 2012. "

[Popeye82]

Indonesia puts 500,000 tonnes copper concentrate in doubt, Indonesia is not renewing Newmont's copper concentrate export permit according to officials
www.mining.com/indonesia-puts-500000-tonnes-copper-concentra…

"Last year Newmont Mining Corp (NYSE:NEM) were barred from exporting copper and gold concentrate from its operations in Indonesia for a full nine months.

Like its US peer Freeport-McMoRan (NYSE:FCX), Newmont's local unit, PT Newmont Nusa Tenggara, had to ceased shipments when a new rule took effect banning the export of unrefined minerals and punitive export taxes were levied.

Exports from the Batu Hijau copper and gold mine in Sumbawa Island and from Freeport's Grasberg mine in Papua province resumed about a year ago.

But now Reuters reports Newmont's Indonesian copper export permit, which expired on Tuesday, will not be renewed because the company failed to meet government stipulations for developing a domestic smelter, government officials said.

Chief Executive Gary Goldberg said on Tuesday Newmont is in talks with the Indonesian government and he said he expected it would take "a couple of weeks" to sort out," according to the report:


"In the meantime we continue to operate at full capacity. The last export shipment was earlier today," Goldberg said in an interview at an industry conference in Denver.


Newmont, the country's number two exporter behind Freeport, is forecast by the Indonesian government to produce 500,000 tonnes of copper and gold concentrate in 2015. "

[Popeye82]

war eigentlich ziemlich logisch,
wenn nicht zwangsläufig
sowas in der Art

und da können sich Die, die auf aquisitionenin der branche setzen
mal
sehr gut
überlegen wo die "firepower" denn
üüüüüberhaupt herkommen sollte


da ist nämlich
NIX
zum firen



The ever diminishing ambitions of BHP Billiton, this year capital +exploration spending @BHP will be $13,000,000,000 less than in '13, leaving the world's largest miner with a single greenfield project
www.mining.com/the-ever-diminishing-ambitions-of-bhp-billito…

"Ambition has become a scarce commodity at the top end of mining.

Projects are being been delayed, expansions shelved, exploration stalled, assets sold and expenditures deferred.

Nowhere is this thrown in sharper relief than at BHP Billiton, the world's largest mining company, by a wide (if declining) margin.

The Melbourne-based giant released its annual report for its financial year to end June on Wednesday detailing three projects reaching first production – a $1.5 billion coal terminal expansion, and a tailings and "organic growth" project with a combined outlay of just under $3 billion at 57.5%-owned Escondida, the globe's largest copper mine.


Mineral exploration spending has been decimated, falling to a mere $250 million in 2015, less than half of what was spent on petroleum drilling and down 60% over three years

These achievements is a stunning climbdown from capital spending of $21.4 billion just two short years ago.

BHP's overall capex in its 2015 financial year fell to $10.4 billion below the 2013 peak. This year BHP will slash another $2.5 billion from exploration and capital expenditure budgets.

By 2017 it will shrink again to under $7 billion, less than a third of what it was.

Out of total spending, mineral exploration has been decimated, dropping to a mere $250 million in 2015, less than half of what was spent on petroleum drilling and down 60% over three years.

The world's number one miner only has four major projects with a combined cost of $7 billion in the works at the moment compared to 18 mine and infrastructure developments two years ago.

Of these, two Australian natural gas plants are nearly finished, while the Escondida water supply project is due to come on stream in its 2017 financial year.

That leaves only Jansen Potash as a sizeable greenfields project at BHP. BHP will spend another $2.6 billion on the project, but has not committed to a completion date, nor received board approval.

The diminished stature of BHP is clearly reflected in is market value.

Over the past 12 months, the stock is down 47% and after retreating again on Tuesday, enjoys a market capitalization of $88 billion.

That compares to its high water mark of more than $270 billion in 2011 when it briefly became the fifth most valuable publicly traded company in the world, ahead of giants like Chevron and Microsoft.


Image: BHP Billiton

*With apology to The Mamas and the Papas "

[Popeye82]

India to take help of satellites, to curb illegal mining - MT -Sep 25, 2015
www.mining-technology.com/news/newsindia-take-help-satellite…

"The Indian Bureau of Mines (IBM) is set to sign a memorandum of understanding (MoU) with the Indian Space Research Organisation (ISRO) for using satellite data to help stop illegal mining across states.

Indian Mines Secretary Balwinder Kumar said that the ministry is making plans to use remote-sensing satellite data to curb illegal mining operations.


According to Kumar, legal boundaries of mined areas can be tracked with the help of satellite images that are taken on a regular basis.

As part of its next steps, it is believed that the ministry plans to start discussions with ISRO in October.
"Legal boundaries of mined areas can be tracked with the help of satellite images that are taken on a regular basis."

The measures to be implemented by IBM would form part of the reforms that are taking place in the mining sector.

The latest development comes in response to Indian Prime Minister Narendra Modi's directive to various ministries in the country to make use of space-based technology by partnering with ISRO.

In order to address the mining sector requirements, ISRO is expected to improve its satellite capacity by coordinating with the respective states.

Established in 1948, IBM is involveed in promotion of conservation, scientific development of mineral resources and protection of environment in mines and aims to promote systematic and scientific development of mineral resources of the country.


Image: Satellite imageries taken on a regular basis can help track legal boundaries of mined areas. Photo: courtesy of duron123/FreeDigitalPhotos.net. "

[Popeye82]

Is "This The Decade's Most Important Mining News?"
http://piercepoints.com/colombia-peace-negotiations-copper-g…

"It might not be immediately apparent -- but the global mining sector just changed forever.

That's not because of a technical advance or a major discovery (yet). But rather a political event -- one that could open up the world's leading frontier for some of the most important global metals.


The place is Colombia. And the development is peace.

Colombia's president Juan Manuel Santos agreed Wednesday with rebels from the FARC insurgent group on terms for ending their war. The key achievement being an accord on how to punish persons -- from both sides -- who committed war crimes during the fighting.

The agreement was one of the biggest parts of the FARC-government peace process. With both sides now saying that a full-blown laying down of arms will come within six months.

In short, this is momentous. The FARC war is the longest-running civil insurgency in the world -- with roots dating back to 1948.

And -- as a footnote to the catastrophic human cost inflicted -- the fighting has held back minerals development in a place that has some of the world's most attractive geology.

Colombia lies at the northern end of the Andean Cordillera, producer of 39% of the world's copper -- along with 21% of molybdenum and 7% of gold supply. The country has largely the same rocks as Chile, Peru and Ecuador, yet produces almost none of these metals other than bullion.

But the prospects are tremendous. Porphyry copper-gold showings around Colombia are some of the largest and richest in the world. They've just never been open to development -- with the civil war being one of the major impediments.

But a peace deal could change that. Much like the end of fighting did in Peru in the 1990s, leading to huge discoveries -- including the Pierina gold deposit, one of the world's largest and lowest-cost producers.

If you missed the opening of that prime ground, now may be a second chance in untrodden elephant country. Watch for the finalizing of the peace agreement over the next six months.

Here's to peace,

Dave Forest "

[Popeye82]

Peru miner Volcan rolls out 'austerity' plan, to offset price slump -R, LIMA - Sep 23, 2015

- Teresa Cespedes -
www.reuters.com/article/2015/09/23/mining-volcan-idUSL1N11T2…

"Peruvian silver and zinc miner Volcan said it is implementing "austerity" measures to offset slumping metal prices - its fourth cost-cutting plan in the past 18 months, the company's president said on Wednesday.

But the company expects to be able to maintain current production levels in coming years, Jose Picasso added.

This year Volcan will likely produce a total 24 million ounces of silver and about 300,000 tonnes of zinc - up slightly from 2014, Picasso said.

Falling silver and zinc prices have kept the company focused on keeping current operations afloat.

"With these prices you can't make any important investments," Picasso told Reuters on the sidelines of a mining conference. "We're being very careful these days."

Volcan has cut contractor personnel by about 30 percent and is asking suppliers for steep discounts on goods, Picasso said.

He added that Volcan is still making a profit.

Mining investment in Peru will likely fall to about $2.5 billion in coming years from $10 billion in previous years, Picasso said. "The panorama looks complicated."

______________________________________________________
(Reporting By Teresa Cespedes; Editing by Bernard Orr) "

[Popeye82]

Myanmar’s mining investment, +its discontents - WB/EAF - Sep 23, 2015

- Soe Nandar Linn -
www.eastasiaforum.org/2015/09/23/myanmars-mining-investment-…

"Following five decades of rule by socialist and military governments, under which the country became one of the least developed countries in the world, a new chapter of Myanmar’s engagement with the international community was opened in March 2011. While the previous regime denied that poverty existed in Myanmar, the new government acknowledged the problem and made addressing it a key economic policy priority. A range of political, economic and social reforms under President U Thein Sein’s administration prioritised rapid legal transformation across sectors to make Myanmar a considerably more attractive investment destination. Reforms and openness have meant accelerated economic activity and an inflow of foreign capital seeking to exploit natural resources.




Foreign direct investment (FDI) in Myanmar is heavily dependent on natural resource-based industries, especially the hydropower, natural gas and mining sectors. Mining is the third largest recipient of foreign direct investment in Myanmar. The industry exported approximately US$1.5 billion in the 2013–14 financial year, bringing in substantial revenue to the government. In 2014, legal jade and gems sales at the annual Myanmar ‘Gem Emporium’ market were valued at US$3.5 billion. But the estimated total jade sales — including through unofficial channels and particularly from Kachin State to China — were US$8 billion in 2011 alone.

Myanmar simultaneously faces three distinct types of challenges in mining project areas — conflict over land, violent opposition to resource exploitation and environmental problems. In 2013, the Revenue Watch Institute in its resource governance index ranked Myanmar as the lowest out of 58 countries. While the government has committed to a range of reforms, these challenges will remain for the new government after the election in November 2015.

The most significant conflict over land is the Letpadung copper mining project in Sagaing Region, which is a joint venture between China’s Wanbao Mining Company and the Union of Myanmar Economic Holding Company. While the former is a subsidiary of a Chinese state-owned arms manufacturing company, the latter is owned by the Myanmar military. Faced with the confiscation of more than 7000 acres of farmland, the forced relocation of 66 villages, inadequate compensation and adverse environmental effects, the affected communities have resorted to widespread protests.

In the face of continued opposition, the government appointed a committee led by Daw Aung San Suu Kyi to look into the project, which controversially endorsed it, albeit with some changes. The report further exacerbated tensions and conflict between the authorities and local communities, and the protests continue.

Regulations that govern extractive industries have not been sufficient to protect Myanmar’s environment and rich bio-diversity. For example, the Environmental and Social Impact Assessment of the Letpadaung project, prepared by Australian consultancy firm Knight Piésold, states that acid and metals generation from waste rock pose an extremely high environmental risk to surface- and ground-water that cannot be mitigated.

Although Myanmar has accomplished some relatively easy reforms, it must now address some fundamental and much more difficult development challenges. The country is currently ranked 150 out of 187 on the United Nations Human Development Index. A quarter of its citizens live below the poverty line, child mortality is higher than in comparable neighbouring countries in the region because of the lack of skilled health workers and one-fifth of children in poor families are not enrolled in primary education. According to the 2014 household census, the life expectancy of Myanmar and the level of access to clean water are the lowest in Asia.

Controlling the extraction of natural resources such as minerals, oil and gas is crucial for the future stability of Myanmar. As the country has the potential to receive increased revenue from extractive industries, it is important for the government to allocate benefits among states and regions systematically. Yet resource sharing across states and regions as well as between the central government and sub-national governments is one of Myanmar’s main constitutional challenges.

In June 2012, the Myanmar government signed up to the Extractive Industries Transparency Initiative (EITI), a global anti-corruption scheme that requires member governments to disclose payments earned from oil, gas and mineral wealth. Under EITI, companies must publish payments made, while the government must disclose sums received and an independent administrator reconciles them. This should mean information about government revenues from natural resource extraction and licensing processes will become more transparent in the future.

Most importantly, having ethical business partners in resource-based industries is crucial. Many of the mineral deposits are located in Kachin and Shan states where armed conflicts have displaced enormous numbers of civilians in recent years. Long-term stability in resource rich states and regions ultimately relies on the introduction of more responsible management of extractive industries. With the monitoring and support of the international community and civil society organisations, large-scale projects in Myanmar could be less opaque and more accountable.

_______________________________________________________________________
Soe Nandar Linn is a national consultant on public administration and finance management at the World Bank in Myanmar. The views expressed here are solely those of the author."

[Popeye82]

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[Popeye82]

Sulphur "could hold key, to next generation of mining deposits, research suggests", a team of Australian scientists is on the hunt for gold and other metals by detecting areas high in sulphur

- Kathryn Diss -
www.abc.net.au/news/2015-09-07/sulphur-could-hold-key-to-nex…

"It is unlikely many people see sulphur as the answer to the question of where to find gold nuggets.

But sulphur, an element abundant in all of Earth's layers, could hold the key to finding the new deposits needed to stimulate future mining projects, new research suggests.

A team at the Centre for Exploration Targeting (CET) in Perth is on the hunt for gold and other metals in the barren and unchartered territory of the Capricorn and Yilgarn regions.

To do that, the researchers are collecting samples of sulphur, which brought gold and other minerals together when the Earth's crust was formed.



- Photo: CET researcher Stefano Caruso working at a spectrometre, one of only 32 in the world. (ABC News: Kathryn Diss)
Map: Perth 6000 -


CET researcher Crystal LaFlamme said the readily-abundant element could be used to fingerprint what other minerals lie beneath the surface.

"Sulphur is part of the Earth's core, the mantle, the crust," Dr LaFlamme said.

"We can use it as a factor towards mineralisation, where the metals might be located, like precious and base metals."

If we don't have this sort of innovation, we're not going to be able to sustain our industry.
Consultant Jon Hronsky

Exploration spending in WA is at a near-decade low, which means there are not many mines to carry the industry on after existing ones are exhausted.

Discovering new deposits is also getting harder, with all of the easy discoveries already being exploited.

Dr LaFlamme said new technology and methods were essential to finding new deposits in untapped regions.

"All the rocks that were sticking out of the ground that had deposits have been found, so now we have to look under a thick layer of soil for the future deposits," she said.

"So we are trying to find a needle in a haystack and give companies a better idea about where to be looking."


Rocks under the spectrometer

The sulphur rock samples collected in the field are taken to the centre's lab at the University of Western Australia in Perth.



- CET researcher Crystal LaFlamme
Photo: Researcher Crystal LaFlamme says they are trying to find a needle in a haystack. (ABC News: Kathryn Diss) -


They are then crushed up and closely examined inside a $6 million spectrometer, a device which allows them to identify what precious metals are under the surface.

Stefano Caruso is completing the research for his PhD and said the spectrometer — the only one in Australia and one of 32 in the world — was essential to the research.

"We are using this incredible machine to transform a really common element such as sulphur into a powerful tracer, to track the role of the sulphur from the source to the ore deposit," Mr Caruso said.

"We are going to look at the footprint of sulphur around the Yilgarn Craton and we are going to find out which are the fertile sources of sulphur that produce the actual ore deposit.

"By building the pathway between the fertile sources and the ore deposit, we can reapply this kind of association to uncovered terrains and into prospective areas."

The data generated by the spectrometer is critical to creating a road map of ore bodies in the regions, in turn helping explorers find new deposits.


'We're never going back'

Jon Hronsky works as a consultant to Western Mineral Services and also sits on the board of Encounter Resources.

He said the research was critical for the industry's longevity.

"The only way we are going to find the next generation of deposits is through the application of science and innovation," Dr Hronsky said.

"The ones you could find by just walking over them, they're gone — we're never going to go back to those days.

"If we don't have this sort of innovation, we're not going to be able to sustain our industry.

"CET is doing great work taking fundamental scientific ideas but translating them into really practical stuff we can use in the industry."

The State Government contributed $90,000 towards the project out of a $500,000 scholarship program aimed at discovering new mines.

The project team will spend the next four years collecting and compiling the data into a map to help companies explore for future deposits. "

[Popeye82]

www.mining.com/argentinas-presidential-candidates-want-minin…

[Popeye82]

Alcoa(AA) splitting itself, in two, to ensure tighter focus on resulting segments - SH/TCP, NEW YORK - Sep 28,, 2015
www.stockhouse.com/news/newswire/2015/09/28/alcoa-aa-splitti…

"Alcoa (NYSE: AA, Forum) will split into two independent companies, one focused on aluminum production and the other on engineered products for the automotive and aerospace industries.

The Alcoa name will remain with the metals company that does mining, refining and aluminum production at 64 plants worldwide.

The company's announcement didn't specify locations for those upstream operations and their 17,000 employees, but Alcoa currently has significant production capacity in the province of Quebec.


The other company, yet to be named, will have 157 locations and 43,000 employees that will provide high-performance products. About 40 per cent of its revenues have come from the aerospace market.

Alcoa expects the split to be complete by the second half of 2016 and has scheduled a morning conference call to discuss details with analysts.

Alcoa chairman and CEO Klaus Kleinfeld will be chief executive of the engineer-products company and be chairman of both companies.

“In the last few years, we have successfully transformed Alcoa to create two strong value engines that are now ready to pursue their own distinctive strategic directions,” Kleinfeld said in a statement.

“With the unanimous support of Alcoa's Board we now take the next step; launching two leading-edge companies, each with distinct and compelling opportunities, and each ready to seize the future.”

The company has been shifting its focus to its more profitable automotive and aerospace products, which also involve titanium. It has been shutting down unprofitable aluminum smelters as a surplus of the material on the market weighs down prices and profit.

Earlier this month, Alcoa broadened a partnership with Ford Motor Co. through the use of a stronger form of aluminum for auto body parts. It also spent about $60 million to expand its three-dimensional manufacturing capabilities at a technical centre in the Pittsburgh area.

After initially rising, Alcoa's share price slipped back and was unchanged at $9.69 in in premarket trading about two hours ahead of the market open.

- With files from The Associated Press. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.659.554 von Popeye82 am 19.09.15 00:23:56

Cigar Lake mine officially starts production, 2nd largest high-grade undeveloped uranium deposit in the world
www.mining.com/cigar-lake-mine-officially-starts-production/…


"One of the planet's richest uranium mines has officially declared production, putting an end to 34 years of delay for the project, majority-owned by Cameco Corporation (TSX, NYSE: CCO).

Last week Cameco and Areva senior management including Cameco president and CEO Tim Gitzel cut the ribbon on the mine, located in the uranium-rich Athabasca Basin of northern Saskatchewan. They also led dignitaries including Saskatchewan Economy Minister Bill Boyd and community leaders from northern Saskatchewan on a tour of the underground workings.


"We are happy to celebrate these two major uranium mining assets in Saskatchewan, the Cigar Lake mine and the McClean Lake mill,” said Olivier Wantz, member of the executive committee and senior executive vice-president, mining and front end business group for Areva Resources Canada Inc, which owns 37 percent of the project. “Their successful operation demonstrates the determination and expertise of our employees to ensure the safe start-up and continued production.”

The Cigar Lake uranium deposit is the second largest high-grade undeveloped uranium deposit in the world, with concentrations of uranium 100 times the world average (the largest is the nearby McArthur River mine). However, the deposit, which according to Cameco has 117.5 million pounds U3O8 at an average grade of 17.84 percent, is also considered one of the most technically challenging to mine.

Construction started in 2005 but it was soon hit by catastrophic floods in 2006 and 2008. Costs also ballooned from nearly half a billion dollars to $2.6 billion, as Cameco and partners struggled to figure out how to mine the deposit which lies almost half a kilometre underground.

Mining at Cigar Lake began in March 2014, but was suspended last July to allow the ore body to freeze more thoroughly. The freezing was done to improve ground conditions, prevent water inflow and improve radiation protection. Commercial production at Cigar Lake was declared on May 1, 2015.

The high-grade ore is removed using custom-made machines that inject water at high pressure to cut away the rock. The resulting ore slurry is then collected through pipes, run through underground grinding and thickening circuits and then pumped to surface. At the surface, the ore is loaded in special containers for truck transport to Areva's McClean Lake mill located 70 kilometres away, where it is processed into uranium concentrate.

Cameco says it produced between 6 and 8 million packaged pounds for Cigar Lake and McClean Lake in 2015. The production target is 18 million pounds by 2018. Once the expansion at McLean Lake mill is complete, the mill will have capacity to produce 24 million pounds of uranium per year. The mine currently employs over 600 people, the majority from northern Saskatchewan, while the mill has a payroll of around 350.

Operator Cameco owns 50% of the mine, followed by Areva (37%), Idemitsu Canada (7.9%) and TEPCO Resources Inc. (5%). The McClean Lake mill is owned by Areva Resources Canada Inc. (70%), Denison Mines Inc. (22.5%) and OURD Canada Co. Ltd. (7.5%). "

[Popeye82]

Antwort auf Beitrag Nr.: 50.632.414 von Popeye82 am 15.09.15 23:23:57

total US coal mines the lowest on record — report, the total number of operating coal mines in the U.S. has hit its lowest point since @least 1923, one of the earliest year on record, according to the Energy Information Administration
www.mining.com/total-us-coal-mines-the-lowest-on-record-repo…
------> www.eia.gov/todayinenergy/detail.cfm?id=23052

"There is pain across the United States’ coal sector, with mines closing almost every month, power plants switching to cheap natural gas, crippling debt, mounting foreign competition and increasingly strict regulations to limit greenhouse gases and toxic emissions.

Not surprisingly, the latest report released this week by the U.S. Energy Information Administration (EIA), showed that not only the number of new coal mines opening each year in the country has dropped to its lowest point in at least a decade. It also unveiled that the total number of operating coal mines in the U.S. has hit its lowest point since at least 1923, one of the earliest year on record.

US coal producers opened 103 new mines in 2013, the most recent year for which data is available, which represents a 14% drop when compared to the previous year. At the same time at least 270 operations were either halted or shut down in 2013, EIA data show.




Total coal output was expectedly affected. Between 2009 and 2013, new and reactivated mines accounted for 63 million short tons of production in their first year, falling short of the 114 million tons of lost production from the last year of production by mines idled between 2008 and 2012, the EIA said.

And while preliminary data for 2014 suggest there was a slight increase in the number of coal mine openings last year, the agency says the trend is still downward.




The country’s total coal production has shrunk about 15% since 2008, and coal stockpiles keep growing at mines as coal-fired power plants shut down month after month.

The commodity, which once fired half of the country’s power now accounts for just under 40% of it. And the Energy Department projects that percentage will slide further, to 34% in 2040, as power plants turn to natural gas and renewables like wind and solar power. "

[Popeye82]

Mining slump creating skills shortage, the ongoing mining decline is creating a skills shortage as professionals exit the industry, +AN UNEMPLOYMENTRATE TRIPLE THAT OF THE REST OF THE NATION
www.australianmining.com.au/news/mining-slump-creating-skill…

"The ongoing mining decline is creating a skills shortage as professionals exit the industry, and an unemployment rate triple that of the rest of the nation.

A new report by the Australasian Institute of Mining and Metallurgy (AusIMM) shows an increasing level of unemployment among highly skilled mining professionals.

“The industry is experiencing a third round of redundancies and retrenchments, leaving many mining professionals without jobs and with limited prospects of re-entering the industry,” AusIMM stated.

“This has national implications given the significance of mining to Australia’s economic health.”


The report found the unemployment rate for mining professionals sits at 16.2 per cent, a jump from last year’s 12.4 per cent rate, and a huge increase from the 1.7 per cent rate in 2012.

This current unemployment rate is triple that of the national unemployment figures.

Production roles, predominately in engineering, have faced the largest year on year rise.

Around one in four iron ore mining professionals are unemployed, demonstrating that sharp value decline faced in the market, despite the increase in actual output levels.

Worryingly, close to 30 per cent of unemployed mining industry professionals are now considered long-term unemployed, having being out of work 12 month or longer.

On the back of this many are exiting the industry, and likely not to return to the sector.

The results reflect the current hard reality of the industry, AusIMM president Rex Berthelsen said.

“Many of us have spent our careers in mining and we have experienced cycles and job losses before, but few can remember worse times and as an Institute, we are alarmed at the loss of good people who may not return and can never be replaced,” he said.

“We are also concerned that a whole level of experienced managers is being removed, leaving the industry at risk of losing its ability to innovate and pursue continuous improvements in safety and environmental performance.”

While the industry is taking a drubbing now, the future of mining in Australia is also at risk as universities record major reductions in the levels of enrolments for resource professional roles.

“The continued turbulence and resulting loss of skills creates major risks for the future of the Australian mining sector and for the Australian economy,” AusIMM CEO Michael Catchpole said.

“This sector underpinned years of economic growth and supported Australia’s economy through the global financial crisis. Government now needs to ramp up support for skills development, research, innovation and productivity improvements to maintain Australia’s position not just as a commodities exporter, but a leading exporter of skills, technology and equipment to the global mining industry.” "

[Popeye82]

Antwort auf Beitrag Nr.: 50.540.213 von Popeye82 am 02.09.15 11:20:02

Ancient minerals on Earth can help explain the early solar system, the discovery of rare minerals in Scotland is helping to answer questions about the start of our solar system
www.australianmining.com.au/features/ancient-minerals-on-ear…
https://theconversation.com/ancient-minerals-on-earth-can-he…
www.mindat.org/min-11467.html

"A new discovery of an extremely rare mineral, called reidite, from a layer of rock in the North West Highlands of Scotland may seem utterly insignificant on first glance. But this occurrence of reidite has major implications for understanding the early evolution of our solar system.

To comprehend the significance of these small specs of reidite, we must first consider the moon.

The most obvious features on the moon’s surface are the circular craters formed by countless meteorite impacts. The dating of lunar samples collected during the Apollo missions tells us that many of these impacts formed around 3.9 billion years ago, which was relatively early in the evolution of our 4.6 billion year old solar system.



- Impact craters on the moon date back many billions of years. Flickr/NASA on The Commons -


This intense period of meteorite impact events, often referred to as the Late Heavy Bombardment hypothesis, has attracted much interest over the past 40 years. But there is a growing body of alternative models that could account for the many impact craters on the moon and hence Earth, and these require a different evolutionary hypothesis for the early solar system.


Crater impressions on Earth

Compared to the moon, the Earth appears to record relatively few impact events. Yet because of its size, Earth should have experienced about 20 times more impacts than the moon.

This apparent discrepancy can be explained by the dynamic nature of the Earth’s crust. Tectonic plates on Earth are in continuous motion and over time, which leads to the destruction, erosion and/or burial of impact craters. There are almost no intact rocks remaining that would have been around to witness the Late Heavy Bombardment.

Fortunately, zircon – a mineral that is found in small amounts in many of Earth’s rocks – gives us the chance to interrogate the early impact history. Zircon contains trace amounts of uranium, whose radioactive decay to lead can be used for precise dating of geological events.

Zircon is very resilient to almost all physical and chemical processes. Incredibly old grains, up to 4.4 billion years old, have been found as eroded detritus now preserved in younger sedimentary rocks. These ancient zircons have proven to be an invaluable repository of the geological conditions and processes that operated on Earth shortly after its formation, and may potentially preserve the ancient impact history of the Late Heavy Bombardment.

The question is, how do we recognise zircon grains that have been impacted by a meteorite?



- Reidite layers (yellow) within a host zircon grain (red) Steven Reddy/Curtin University -


In the past decade a number of studies have shown that zircon can contain microscopic features, called microstructures, that indicate that the grain has been stressed and deformed as a result. Unfortunately, these microstructures are not diagnostic of impacts in many cases, and may have formed by plate tectonic processes.

But reidite, which has the same chemical composition as zircon, only forms from zircon at the extremely high-pressure shock conditions imposed by an impacting meteorite; pressures equal to those found around 900km below Earth’s surface.

The reidite discovered in Scotland was found as microscopic layers only 2μm wide (about 1/40th the thickness of the average human hair) within grains of zircon. Yet even at these microscopic levels its presence represents the smoking gun of a meteorite impact.

Until a year ago, the three known occurrences of reidite were all associated with impacts that were less than 35 million years ago, which is very young, geologically speaking. It seemed likely that ancient reidite reverted back to zircon.


New finds, of ancient times

In 2015 two new discoveries have extended the known occurrence of reidite. The first was dated to around 450 million years ago and the second, the Scottish example, at around 1.2 billion years. These discoveries were made at Curtin University in Perth, and identified the reidite using electron backscatter diffraction, a high resolution scanning electron microscopy technique.



- The outcrops around Stac Fada in Scotland where the new reidite was discovered. Tim Johnson / Curtin University, Author provided -


Despite the minute size of the Scottish reidite, the discovery is extremely important. It shows that reidite is stable over long periods of geological time and does not necessarily revert back to zircon. This opens up the potential of using reidite to clearly identify ancient impact events recorded in shocked zircon grains that may be preserved in the detritus of sedimentary rocks formed long after the time of impact.

Establishing the early Earth impact record is challenging. Four billion year old reidite remains elusive, and the ability to constrain the absolute timing of impact events in reidite-bearing zircon grains has yet to be proven.

We are currently looking for evidence of older reidite and are exploring how deformation associated with reidite formation may modify the distribution of elements over incredibly small distances within host zircon.

These micro- and nanoscale observations on Earth’s ancient zircon grains may yield the information that will allow us to test the competing models of the early Earth’s impact record and say something useful about the early evolution of the solar system.


Steven Reddy, Professor of Geology and Geoscience Atom Probe Science Leader, Curtin University

This article was originally published on The Conversation. Read the original article. "

[Popeye82]

Platinum price falls to 7-year low
www.mining.com/platinum-price-falls-to-7-year-low/?utm_sourc…

"On Tuesday, platinum futures in New York fell to levels last seen during the global financial crisis as investors spooked by the fallout from a cheating scandal at the world's largest automaker continue to abandon the metal.

In early afternoon trade on the Nymex in New York platinum for delivery in January – the most active contract – dropped more than $20 or 2.5% dipping below $900 an ounce, levels last seen October 2008, before recovering some ground later in the day. Compared to this time last year the metal is down 29.5%.

After the dip below $900 at the height of the financial crisis the price of the metal quickly recovered and was trading back above $1,000 in January 2009 – for a sustained period below $900 an ounce you have to go back more than a decade.

Platinum/gold is trading at the lowest level in more than 25 years

Platinum's primary use is in catalytic converters to reduce emissions – specifically for diesel vehicles – and Europe's car manufacturers are the top consumers of the metal where diesel makes up 50% of the market. The average PGM load in autocatalysts in passenger vehicles are around 4 grams, a level that's been steadily rising as emissions regulations are tightened around the world.

Volkswagen on Tuesday said that it's commercial vehicle division used the same 'defeat' devices found in 11 million of its passenger cars that led to what has now become know as dieselgate.

Diesel vehicle sales have already come under pressure in Europe where cities like London and Paris have restricted access to diesel vehicles. While diesel engines emit less carbon dioxide thanks to better fuel efficiency than gasoline cars, it spews out other pollutants such as nitrogen oxide.


A research note yesterday from investment bank Barclays argues that the plunging platinum price could drive physical demand of platinum in jewellery:

“Currently, platinum/gold is trading the lowest level in more than 25 years. Although the diesel-engine scandal has a limited direct effect on gold, the price ratio between platinum and gold can affect jewelry demand, shifting some from gold into platinum, especially in markets such as China, where there is a preference for platinum jewelry,” the analysts wrote.


Sister metal palladium finds more application in gasoline engines and is therefore more exposed to the Chinese and US markets and should therefore in the longer term benefit from a move away from diesel.

Nymex palladium contracts for December delivery exchanged hands for $657.50, up 0.8% on Tuesday for a more than $50 an ounce gain since the news broke.

In August the metal plunged to $532 an ounce, but quickly recovered. The price of palladium reached 13-year highs above $900 an ounce in September 2014 on the back of supply worries due to a strike at the world's three largest producers in South Africa and tensions in Russia.

Together Russia and South Africa control between 70% and 80% of the world’s supply of PGMs. Russia's state stockpiling organization called Gokhran sits on an disclosed amount of palladium built up during the Soviet era, which it releases onto the market from time to time.

The structure of supply has not altered in any substantial way since the 1970s when platinum and later palladium came to the fore as an important part of the world’s automobile industry. "

[Popeye82]

Iron ore price: Roy Hill in for the kill, +90,000,000t/a S11D ahead of schedule
www.mining.com/iron-ore-price-roy-hill-in-for-the-kill/?utm_…
www.bloomberg.com/news/articles/2015-09-28/iron-ore-seen-bel…
www.afr.com/business/mining/iron-ore/vales-biggest-ore-proje…
www.mining.com/iron-ore-miners-have-new-price-competition-ch…

"Benchmark iron ore was was exchanging hands for $54.50 a tonne on Thursday – a level it's hardly strayed from for the past two months.

In the mid-50s it's technically in a bull market, gaining more than 20% from record lows for the spot market of just over $44 a tonne hit July 8 according to The Steelindex.

Compared to this time last year however, the steelmaking ingredient has more than halved in value.

Ore's stability amid amid wild price swings in other metals – notably copper – in recent weeks has been noteworthy.

But a new report by CitiGroup says miners have to prepare for a new gap down in price.

And Roy Hill can take most of the blame.

New supply from Gina Rinehart’s project in the Pilbara will contribute to a slump below $40 a tonne in the first half of next year according to the investment bank.

Last year, Roy Hill received the biggest ever financing package for a mining project anywhere the world according to Rinehart's Hancock Prospecting, and at fill tilt will ship 55 million tonnes a year starting this month.

A price below $40 all-in makes life difficult for all but the most cost-effective producers and as this chart shows Roy Hill is yet another ultra-low cost producer entering the market:



- Source: UBS via Bloomberg -


As if the arrival of Roy Hill is not enough for faltering steel demand to absorb, other news out this week is bound to add even more pressure.

Top producer Vale said that the giant expansion of its Carajas complex in northern Brazil that goes by the innocuous moniker of S11D is ahead of schedule will be completed before December next year.

S11D will add an additional 90 million tonnes to global supply. At least the Rio de Janeiro-based company says it "will control the speed" at which the ore hits the market.

Smaller iron ore miners not only have to compete with majors but now there could be a new game in town – Chinese scrap.

A new research report by Minerals Value Service shows the price to a Chinese coastal mill of producing one tonne of pig iron is currently higher than benchmark scrap price inside the country.

While it may take a while for China's blast furnaces to retool to take advantage of increased levels of cheap scrap, 90% Fe feedstock would be preferable over iron ore in an industry that's been plagued by unprofitability for years. "

[Popeye82]

Controversial BC coal mine green-lighted, with (24)conditions
www.mining.com/controversial-bc-coal-mine-green-lighted-with…

"A proposed coal mine near Tumbler Ridge, British Columbia is one step closer after it received conditional approval from the BC government.

The Murray River coal mine and its Chinese owner, HD Mining International, faced intense public pressure in 2012 after it was revealed that the company would employ up to 500 temporary foreign workers (TFW) from China. Two labour unions took HD Mining to court over the use of TFWs, claiming foreign workers were favoured over Canadians. However a federal judge dismissed their argument in 2013.

In December 2014 a joint federal-provincial environmental review was launched, and on Thursday, Environment Minister Mary Polak and Bill Bennett, minister of mines and energy, issued an environmental assessment certificate with 24 conditions.

These include: hiring an independent environmental monitor to determine whether HD Mining is complying with the conditions in the environmental assessment certificate; developing a management plan to address impacts on wildlife, fish and fish habitat, wetlands, air quality, noise, groundwater and surface water and impacts from invasive plants; and working with local First Nations to avoid transgressing treaty rights. Federal approval is still required.

"The ministers have issued the certificate with legally-enforceable conditions that have given them the confidence to conclude that the project will be constructed, operated and decommissioned in a way that ensures that no significant adverse effects are likely to occur directly from the project," the government stated in a press release.

While the environmental certificate is a step forward, it is still uncertain whether the mine will go ahead. Alaska Highway News reported on Thursday that HD Mining has not yet made a final investment decision on the mine, though one is expected in 2016. Bulk samples will be shipped to China next June for testing.

If the company decides to move forward on Murray River, it will be one of the largest underground mines in Canada and the first to use the longwall mining method.

The $668 million project would employ 764 miners, 494 of which would be foreign, in its first year of operation. The use of foreign workers would be reduced as Canadian miners are trained in longwall mining, Business in Vancouver reported. The mine would produce a maximum 4.8 million tonnes of coal a year and have a 25-year life. "

[Popeye82]

Antwort auf Beitrag Nr.: 50.730.051 von Popeye82 am 29.09.15 00:16:56

HALF OF GLOBAL COAL OUTPUT IS UNECONOMICAL, Moody’s says, global metallurgical coal benchmark has fallen to the lowest level in a decade, settling last month @$89(U.S.) a metric ton, “Further production cuts are necessary to bring the market back into balance”
www.theglobeandmail.com/report-on-business/industry-news/ene…

[Popeye82]

Africa banking on nuclear power
www.mining.com/web/africa-banking-on-nuclear-power/?utm_sour…

"It’s no secret that Africa’s economic development has been stifled by the shortage of electricity across the continent. The Africa Progress Report 2015 puts theannual electricity-related economic loss at 2 percent to 4 percent of GDP. In Ghana and Tanzania, electricity shortages are costing businesses 15 percent of sales.

Over 600 million people are getting restless waiting for power. South Africa alone accounts for 50 percent of sub-Saharan Africa’s current installed capacity of 9 GW. According to The Africa Progress Report 2015, at the current pace of electrification (investing $8 billion or 0.49 percent of GDP annually), the continent will achieve universal access in 2080. Declaring this unacceptable, Africa Progress Report 2015 projects Africa needs to invest $55 billion (or 3-4 percent of total GDP) annually to speed up the pace and reach universal access to electricity by 2030.

Discussions about Africa’s power options often focus on renewables, hydropower and natural gas. Diesel, heavily used for power generation across Africa, and coal, widely used in Southern Africa, are not championed in discussions with international development organizations and financiers.

To close the huge power deficit and boost their economies, Africa’s larger economies – South Africa, Kenya and Nigeria -and smaller uranium rich countries – Namibia and Niger – have decided it might be time to go nuclear. Ghana, Senegal, Uganda, and Morocco have also publicly expressed their interest in nuclear power. The International Atomic Energy Agency (IAEA) has indicated that it will help African countries cooperate in developing nuclear electricity. IAEA will advise on international best practices and standards. National governments will be responsible for regulatory oversight.


South Africa leads the way

South Africa, currently the only African country with nuclear power (2 GW), is actively planning to develop 9.6 GW by 2030 at a cost ranging from $37 billion to $100 billion. AREVA, Electricite de France, China’s Guangdong Nuclear Power and Korea Electric Power Corporation are vying for a share of this business. China and Russia have signed MOUs to develop skills and strategic partnerships. China has started training South Africans in nuclear plant operations.

But South Africa’s procurement process is already facing a legal challenge. Westinghouse Electric Corp. is expected to challenge the South African utility ESKOM’s reversal of a $381 million award; giving the contract to AREVA after first announcing Westinghouse’s win. The possibility of a long legal battle does not seem to be dampening interest, however.

Recent press suggests that Russia’s state-owned Rosatom is at the forefront of the next round of awards expected to take place between late 2015 and early 2016. Industry commentators suggest that South Africa is anticipating that Russia and China will offer generous financing with their bids; outside of these two powerhouses, no one is certain who could pay for such a massive expansion. Industry observers are skeptical that either Russia or China will deliver the expected funding. Nuclear power opponents including Greenpeace are demanding transparency and argue that South Africa’s nuclear push is a waste of money, better spent on other options, e.g. renewables, to address the country’s current power shortfall.


Kenya follows fast

Kenya appears to be the most active, after South Africa, in planning its nuclear power future. It has 2.2MW in total installed grid capacity with 20 GW of geothermal potential. Estimates state that an economy of Kenya’s size should have 45GW to 55GW of installed capacity.

Adding nuclear power into its fuel mix would help to close its power supply gap. Kenya projects bringing 1GW of nuclear power on line by 2025, rising to 4GW by 2033. In August 2015, the IAEA led an 11 person expert team to Nairobi to conduct an “Integrated Nuclear Infrastructure Review (INIR)”of Kenya’s progress. The Kenya Nuclear Electricity Board (KNEB) has completed two phases of the INIR; self-assessment and pre-feasibility preparedness studies.

An important outcome of the INIR is assessing Kenya’s progress towards setting up an independent nuclear power regulatory authority. China has signed up to help Kenya meet its nuclear aspirations. The two countries signed an MOU in 2015. China will help Kenya build skills and will provide technical support with site selection and feasibility studies. Slovenia and South Korea have also signed cooperation agreements as they position for upcoming deals. The first cohort of Kenyans is studying nuclear engineering in South Korea.


Nigeria raises tempo, towards its nuclear goal

Nigeria will certainly miss its original target to go nuclear by 2017, but it has made progress building its institutional framework since first declaring its intent in 2007. With power sector privatization failing to meet the projected surge in power supply, Nigeria is ramping up efforts to explore its nuclear power options. It plans 1 to 2 GW of nuclear capacity and has selected two potential sites. Russia is at the forefront of this development.

According to Reuters, Rosatom, Russian state-owned nuclear company, can spend “$300 – $350 billion per year to build nuclear plants in Russia and abroad.” Rosatom and the Nigerian government signed a cooperation agreement in 2012 for the commissioning and decommissioning of nuclear facilities. Following further talks in 2015, Rosatom, according to Nigerian officials, will finance and operate the $20 billion project, which envisions a total of four plants, each valued at $5 billion. Nigeria’s plan is for the first plant to be operational in 2025. The IAEA is scheduled to conduct an INIR in Nigeria in 2015.


A new frontier, for nuclear power?

With global sales of nuclear power plants flat following the Fukushima accident, it’s no wonder that Africa’s initial forays into nuclear power are generating so much interest. Governments have said little to address the safety concerns raised by industry watchdogs and citizen’s groups. Continent-watchers and industry observers remain skeptical that all this nuclear capacity will be built, as financing remains a formidable challenge.

But nuclear power is no longer off the table as Africa adopts an “all of the above” strategy regarding fuel options, as it struggles to close its power deficit. Currently, Russia appears to be willing to splash the most cash. But China and South Korea can’t be ignored and other countries are positioning to step up their efforts as Africa’s nuclear power market heats up.


By Ronke Luke for Oilprice.com "

[Popeye82]

[Popeye82]

Alberta's oilsands almost saw nuclear detonation to free up trapped bitumen, as part of Operation Cauldron in the 1950s; Operation Cauldron, as it was initially baptized, called for the underground detonation of up to 100 nuclear bombs, in hopes of liquefying the stubborn bitumen that had conventional oil extraction experts stumped
www.calgarysun.com/2015/10/03/albertas-oilsands-almost-saw-n…

"The idea should be resurrected, if only to watch sanctimonious eco-worriers like David Suzuki getting their organic, free-run hemp nickers in a twist — talk about a meltdown.

But seriously — what was Alberta thinking back in 1958?

If not for a last minute decision to scrap the whole plan for fear of annoying the Soviet Union, Alberta’s biggest environmental worry in 2015 wouldn’t be carbon emissions from the oilsands, but rather what to do with all the radioactive waste around Fort McMurray.

Operation Cauldron, as it was initially baptized, called for the underground detonation of up to 100 nuclear bombs, in hopes of liquefying the stubborn bitumen that had conventional oil extraction experts stumped.

“The tremendous heat and shock energy released by an underground nuclear explosion would be distributed so as to raise the temperature of a large quantity of oil and reduce its viscosity sufficiently to permit its recovery by conventional oilfield methods.”


Those are the words from the mad genius behind Operation Cauldron, a senior geologist with California-based Richfield Oil Corporation named Manley L. Natland.

In his submission to the Research Council of Alberta, Natland also suggested Alberta test his theory by detonating a nine-kiloton atomic bomb, slightly smaller than the one used at Hiroshima, to see what would happen.

It was timely, given a push by the United States to find peaceful uses for the same bomb that had wiped two Japanese cities from the map only 14 years earlier, and with the demand for so-called “free world” oil on the rise.

Richfield Oil even had a site in mind, in a wellsite near a place called Pony Creek, and as Natland explained to then-premier Ernest Manning and his ministers, the bomb would hopefully vaporize rock to form a cavity that would hold the liquid oil, so it could be easily pumped out.

Natland said the atomic bomb could produce “an oilfield on demand” — and somehow, the Alberta government bought it.

After changing the name to a less-alarming “Project Oilsand,” Richfield and the government pushed ahead with the plan, and a congressional hearing in Washington was told the date for detonation would be sometime in 1961.

Of course, there were more than a few people who thought the idea was nuts, including a congressman named Daniel J. Flood, who told the U.S. Atomic Energy Commission he believed the whole thing was “dangerous folly.”

No one seemed to listen though, even after sage experts from Atomic Energy of Canada Limited offered warnings that a whole bunch of nuclear bombs going off were likely to cause some serious fission-based health issues for the folks living in the area.

“Our experts would like to know how Richfield will prevent the oil from becoming radioactive, too,” said another official from Canada’s National Research Council, in an Ottawa newspaper story dated Oct. 10, 1958.

The fears and warnings about leaking radiation seem so sensible now, at a time when the environment and human lives actually matter — but back then, the world was a much simpler place, and the end goal of easy oil was all-important.

No matter that a bit of radiation might escape, or the whole thing might explode like a nuclear volcano — Alberta was keen to blow up an atomic bomb, and if not for the Soviet Union, there’s a good chance oil workers around Fort McMurray would be carrying Geiger counters to this day.

We have the Soviet Union to thank for the fact northern Alberta doesn’t glow at night, and it was international disarmament talks in Geneva that convinced Prime Minister John Diefenbaker that even a peaceful blast might annoy the Reds, at a very delicate time.

Dief told Parliament that the decision to detonate an atomic bomb on or under Canadian soil would be made by Canada, not the Americans — and he soon ordered Project Cauldron/Oilsand placed on permanent hold, citing the risk of upsetting the nuclear disarmament treaty.

There would be no atomic future for Alberta’s oilsands — and for once, an energy policy made in Ottawa may have done Alberta a big favour.


[e-mail] "

[Popeye82]

Antwort auf Beitrag Nr.: 50.781.657 von Popeye82 am 06.10.15 03:43:05

"Think Coal Is Dead? This Low-Cost Hotspot Is Thriving"
http://piercepoints.com/coal-south-africa-india-low-cost/

"America, Poland, Indonesia, Australia. The world's largest coal-producing nations haven't had much good news lately.

The majority of reports across the coal sector this year have shown mines closing, operations being sold at firesale prices, and profits pinching down to pennies.

But news late last week shows there's one spot bucking that trend.

South Africa. Where output is remaining stubbornly high, even amid the worst depression the global industry has seen in a decade.

Platts reports that South Africa's thermal coal exports in August barely fell as compared to a year ago. With total shipments hitting 5.73 million tonnes, just 5.9% lower than exports during August 2014.

In fact, South Africa's coal shipments during the previous month of July were actually at year-high levels. With a total 7.15 tonnes of coal shipped, representing the highest level of exports in seven months.

The incredible thing is, this strong performance is happening even as coal prices are tumbling. The price for South Africa's reference Richards Bay 6,000 kcal/kg coal dropped 4.5% during August alone, to $52.60 per tonne at month end.

So what's the South African secret?

For one, the country hosts the world's lowest-cost coal mines. Represented in the chart below (from Platts) by the dark red bars at the far left -- in some cases showing production costs as low as $20 per tonne.




South African producers are also benefitting from their proximity to the key market of India. During the first eight months of 2015, 49% of South Africa's coal exports shipped here.

All of which shows that having the right rocks in the right place on Earth can insulate against even the deepest downturns. This should be a case study for all miners looking to outlast their opponents and grab hold of the global markets.

Here's to prime locations,

Dave Forest "

[Popeye82]

[Popeye82]

Mining for metals in society's waste, as deposits get deeper +new sources of metals are becoming harder to find, new avenues of recovery are being explored
www.australianmining.com.au/features/mining-for-metals-in-so…

[Popeye82]

Australia’s University of Adelaide opens new mining research hub - MT/UoA/ARC, ADELAIDE - Oct 8, 2015
www.mining-technology.com/news/newsaustralia-university-of-a…

"The University of Adelaide in Australia has announced the opening of a new mining research hub.

The new Australian Research Council (ARC) Research Hub for Australian Copper-Uranium is expected to add value to the country's $6bn-a-year copper industry. It involves key industry, university, and government partners from South Australia and nationally.

ARC Research Hub for Australian Copper-Uranium director Stephen Grano said: "Much of South Australia's copper deposits are actually very fine intergrowths of a range of different metals and minerals.

"This introduces additional technical challenges for industry, which needs to achieve high-purity copper concentrates ready for market."

Opening of the new hub is aimed at discovering new cost-effective methods of removing other metals from copper deposits and ensure they are suitable for industry-level operations.

The university secured $2.52m from the ARC to establish the facility. A further $5.55m in cash and in-kind support will be given by BHP Billiton, OZ Minerals and the Department of State Development up to 2020.


University of Adelaide vice-chancellor and president Warren Bebbington said: "This new research hub will translate our mining research into real economic outcomes for the state.

"The strong support from the resource sector and government illustrates its importance for the future of industry."

The new ARC hub is expected to provide a boost for one of South Australia's significant commodities.

In addition, the state government is providing $500,000 over four years towards the testing and commercialisation of safe methods of separating uranium from copper concentrates.

OZ Minerals and the University of Adelaide signed a partnership in June to collaborate on new research projects that have direct interest to both parties.

The primary focus was on areas such as geology and exploration, resource characterisation, mine to mill optimisation, geometallurgy and infrastructure development. "

[Popeye82]

World's top 5 miners lose $540 BILLION market worth, new wave of selling hits world's top five public mining companies Friday, as the commodity slump slashes market valuations to 60–88% below 2011 highs
www.mining.com/worlds-top-5-miners-lose-540-billion-market-w…

[Popeye82]

Antwort auf Beitrag Nr.: 50.662.056 von Popeye82 am 19.09.15 17:47:32

Copper mining's deepening costs crisis, 47% Of THE INDUSTRY IS LOSSMAKING @AUGUST COPPER PRICE LOWS, ACCORDING TO NEW REPORT
www.mining.com/copper-minings-deepening-costs-crisis/?utm_so…
https://forms.thomsonreuters.com/GFMS/

"GFMS Thomson Reuter's closely watched annual base metals review and outlook contains some stark warnings for copper miners.

The industry has made progress to reduce costs – since the first quarter of 2014 average cash costs have dropped by $303 a tonne according to GFMS calculations.

Over the same period the price of copper is down by $998 a tonne. And since the end of the June quarter of 2015 (the scope of the report) copper is down another $1,000.


It seems unlikely that the pace of cost reduction can improve much from the relatively modest pace of the last few quarters

GFMS says at the August low of $4,888 a tonne (a six-year low visited again at the end of last month) 10% of the industry is losing money on a cash basis.

But consider total costs (a better proxy for sustaining production levels at mines) and 47% of the industry is unprofitable at a 2009 copper price.

While costs have been reduced by 8% since the start of 2014, in Q2 2015 cash costs for the industry actually creeped up fractionally over the first quarter.

The inability of copper miners to make deeper cutbacks was despite a 50% fall in the price of crude oil and a sharp depreciation of producer country currencies against the dollar (on average more than 15% says GFMS) over the period. The usual culprit when it comes to rising costs in copper mining – falling grades – were relatively stable.

And the outlook is not all that rosy for the cost curve to lower much more:

"While cash costs may benefit from the lag in the transmission of lower energy prices, it seems unlikely that the pace of cost reduction can improve much from the relatively modest pace of the last few quarters.

"If copper prices continue to languish, additional cuts in sustaining capital are likely in the coming months, which will clearly impact the future production profile. We expect noise levels to increase in the coming months as the industry announces cuts to mine production and capital budgets, but how much of that translates into mine closures and/or a meaningful reduction in volumes remains to be seen."

"

[Popeye82]

Over $21bn worth of mining projects delayed in Peru due to social conflict, six people have been killed in anti-mining protests so far this year, including three @last week's clash between police +locals near Las Bambas copper mine
www.mining.com/over-21bn-worth-of-mining-projects-delayed-in…
http://eleconomista.com.mx/economia-global/2015/10/05/confli…

"Social conflicts and red tape have caused the delay of $21.5 billion worth of mining projects in recent years in Peru, one of the world’s largest gold, silver, copper and zinc producers, El Economista reports (in Spanish).

the country has lost $14.9 billion between 2010 and 2014 in mining exports revenue

According to data from the Peruvian Institute of Economics, the country has lost $14.9 billion between 2010 and 2014 in mining exports revenue (based on 2007 prices) that never happened.

The South American country is the world’s No 3 copper producer and mining accounts for about 60% of its export earnings.

But President Ollanta Humala has struggled to resolve opposition from rural communities to mining since taking office in 2011, resulting in the suspension of several large projects after violent clashes between protesters and police across the nation.

Six people have been killed in anti-mining protests so far this year, including a police officer whose skull was fractured during May protests against Southern Copper’s (NYSE, LON: SCCO) $1.4 billion Tía María copper project.

Last week, the government had to declare martial law in parts of its southern highlands after protests against the $7.4 billion Las Bambas copper mine, owned by a consortium led by China’s MMG Ltd. resulted in at least three deaths.

During the 30-day period of such law, civil liberties such as freedom of association and movement are restricted, while police are allowed to enter houses without search warrants. "

[Popeye82]

Asia-Pacific metals industry welcomes TPP deal, Metal processing +mining industries in the Asia-Pacific region have welcomed the conclusion of negotiations for a Trans-Pacific Partnership(TPP) agreement, that will reduce barriers to trade between 12 countries
www.metalbulletin.com/Article/3495400/Asia-Pacific-metals-in…

"Metal processing and mining industries in the Asia-Pacific region have welcomed the conclusion of negotiations for a Trans-Pacific Partnership (TPP) agreement that will reduce barriers to trade between 12 countries.


The USA, Canada, Australia, Japan, Mexico, New Zealand, Singapore, Malaysia, Vietnam, Peru, Chile and Brunei have signed the deal, which goes far beyond the usual tariff-reduction goals of traditional trade deals. Additional measures include greater transparency and liberalisation in foreign investment rules, including provision for neutral and transparent international arbitration of investment disputes. There are also commitments on trade facilitation, with TPP countries agreeing to publish their customs laws and regulations, and release goods without unnecessary delays where officials take too long to assess duties or fees. They have also agreed to consult openly on proposals for technical regulations that must be followed by importers, exporters and local producers. TPP countries have also agreed to open immigration procedures for temporary business visitors. Finally, there was agreement to ensure that state-owned enterprises and monopolies – particularly prominent in TPP emerging market countries – do not discriminate against businesses, goods and services... "

[Popeye82]

http://piercepoints.com/uranium-us-kazakhstan-america-nuclea…

[Popeye82]

World's largest coal miner going gangbusters, Coal India will add 50,000,000 tonnes to production this year, with a target of 1,000,000,000 tonnes per year before the end of the decade
www.mining.com/worlds-largest-coal-miner-going-gangbusters/?…




"Hopes are high that India, set to overtake China as the world’s most populous nation during the next decade, could take over the role of China as the world's growth engine.

China’s coal production and consumption peaked last year after being responsible for 80% of global coal consumption growth since 2000.


As far as thermal coal is concerned India has already overtaken China as the world’s top importer and domestic production is ramping up just as China’s starts to decline.

According to latest government data state-owned Coal India’s production grew 9.4% in the April-August 2015 period helping total coal output in the country to grow to 187 million during the second quarter.

Coal India’s growth will only accelerate from here – the company said there was a whopping 37% increase in overburden removal at its open pits during the April-September 2015 period.

That would lead to additional tonnage of at least 50 million in the current fiscal year following 32 million tonnes of new supply from the company in 2014.

Delhi’s target for Coal India is 1 billion tonnes by 2020 with private sector mining contributing another 600 million tonnes by that time to make the country less reliant on imports. "

[Popeye82]

leucoxene shorts scharf machen???

World's largest leucoxene production to commence in WA, the Keysbrook project will soon commence continuous mining operations, producing zircon +leucoxene mineral sands products
www.australianmining.com.au/news/world-s-largest-leucoxene-p…

"The Keysbrook project will soon commence continuous mining operations, producing zircon and leucoxene mineral sands products.

Junior miner and owner MZI Resources announced today that mining would start next week at the Keysbrook project, located 70km south of Perth.


First concentrate production from the wet concentrator plant will begin during November, and the first product shipment is anticipated to go before the end of 2015.

MZI managing director Trevor Matthews said the company was on the verge of becoming Western Australia’s first, and the world’s biggest producer of leucoxene.

“Keysbrook’s low forecast operating costs and high value product mix also promise to make MZI one of the highest margin suppliers of premium mineral sands products to the global market,” he said.

Leucoxene the name given to fine, granular alteration product of titanium minerals, with a titanium content ranging from 70 per cent to 93 per cent.

Although not a recognised species of mineral, leucoxene is formed through extensive weathering of ilmenite, which removes iron and increases titanium content of individual grains.

Leucoxene is used in the manufacture of welding electrodes as a flux agent, or as feedstock for pigmentation plants. "

[Popeye82]

Another two copper mines added to Glencore fire sale, Glencore's Cobar in New South Wales +Chile operation Lomas Bayas could fetch anything between $500,000,000 +$1,000,000,000
www.mining.com/another-two-copper-mines-added-to-glencore-fi…

[Popeye82]

South Africa gold companies face massive lung disease suit, hundreds of thousands of workers are suing 32 gold mining firms after contracting silicosis +tuberculosis working the country's ultra-deep gold mines
www.mining.com/south-africa-gold-companies-face-massive-lung…
http://mg.co.za/article/2015-10-12-mining-houses-embroiled-i…
www.dw.com/en/south-africas-sick-miners-take-gold-mines-to-c…

"Hundreds of thousands of workers are suing 32 mining companies, including some of the world's leading gold producers in South Africa's high court.

The lawsuit first filed in 2012 resumed on Monday and seeks class action status and compensation and medical care for migrant and South African workers that have acquired silicosis, tuberculosis and other respiratory illnesses working in the country's underground gold mines over decades.


Richard Spoor, the attorney representing the miners, told Deutsche Welle a "typical victim was 20 years old and he came to the mine a young healthy man. He was physically injured and his lungs were damaged. He was unfit for further employment. He contracts that disease. He gives it to his wife. He gives it to his children."

A “typical” claimant would be 70-years-old, having worked at a mine since 1965 until about 2005 reports Mail & Guardian quoting court papers as suggesting "196 000 gold mineworkers in South Africa and 84 000 more migrant workers from neighbouring countries have silicosis. And there are an estimated 50 0000 more cases of occupational lung disease."

Last year an alliance of the gold miners, which includes Gold Fields (NYSE:GFI), AngloGold Ashanti (NYSE:AU), Anglo American South Africa, Harmony Gold Mining (NYSE:HMY) and Sibanye Gold Ltd. (NYSE:SBGL) (JSE:SGL), met with the government, labour unions and claimants’ lawyers to set up a compensation fund under current legislation rather than engaging in protracted and costly legal proceedings.

“These companies do not believe that they are liable in respect of the claims brought, and they are defending these,” the alliance said. “The companies do, however, believe that they should work together to seek a solution to this South African mining industry legacy issue.” "

[Popeye82]

Mining needs US$150,000,000,000, to survive, Wood Mac says, ongoing weak markets +commodity price pressures may mean the industry’s focus on the now rather than the future could damage it ahead - MA - Oct 19, 2015

- C. Latimer -
www.australianmining.com.au/news/mining-needs-us$150bn-to-su…
www.woodmac.com/media-centre/12529630
www.australianmining.com.au/news/chief-economist-indicates-t…

"Ongoing weak markets and commodity price pressures may mean the industry’s focus on the now rather than the future could damage it ahead.

According to a recent presentation by Wood Mackenzie vice chairman of metals and mining research, Julian Kettle, if the mining industry focusses too heavily on cost cutting now and fails to invest the US$150 billion required to meet future supply needs, supply shortages will erupt.


“Across base metals, iron ore and steel Chinese consumption growth rates are set to fall dramatically in the next five years, compared with the previous half decade. However, we caution against this being interpreted as a bleak outlook – Chinese consumption hasn't hit a great wall,” Kettle said.

“The scale effect, i.e. the sheer volume, still translates into significant incremental demand and good growth in tonnage terms. China will account for between 58-69% of global total demand growth for base metals over the next decade."

This renewed focus on future supply comes as the market and governments tout the bottom of the decline.

Bankers are seeing mining returning to form in late 2016/17, with predictions of commodity prices rising by a fifth.

Morgan Stanley is bullish on mining again, after earlier putting an ‘attractive’ tag on the sector, stating the industry is at an historically attractive level.

The bank lifted its recommendations for the majors, moving Rio Tinto and BHP from ‘overweight’ to ‘equal weight’, and Anglo American from ‘equal weight’ to ‘underweight’.

According to the bank they expect commodity prices to rise approximately 19 per cent by 2017, carrying out “a sharp reversal from the experience in the last 18 months”.

“Emerging markets and China in particular remain key to commodities demand. In the next few months we expect the perception around this demand to improve. In particular the acceleration of financial and administrative stimulus policies in China in recent weeks should start to feed through in both actual activity levels and equity market expectations,” Morgan Stanley analysts stated.

Australia’s chief economist also pegged the bottom of the mining downturn.

In its report it outlined positive guidance.

“Over the medium term, the outlook for the Australian resources sector is largely positive,” the report said.

“The prices of several commodities, in particular iron ore and coal, are projected to increase moderately towards the end of the outlook period. In addition, production and export volumes are projected to increase as the recent investment in the sector contributes to increased output.”

According to Wood Mac, however, this recovery can’t happen unless the industry begins to invest US$150 billion to meet the medium to long term supply.

"This need for investment is becoming desperate in zinc and lead and will become an issue in copper in the next few years. Unfortunately there is little appetite to invest with prices cutting into the cost curve, low free cash-flow, surpluses building, difficulty in financing and shareholders demanding dividends."

The group’s analyses showed that further reductions in base metals are needed to keep the sector viable.

"In copper, prices are hovering around the 90th percentile price plus sustaining capex – a measure we use to assess where production sits on the cost curve. We're expecting a further 400-500 thousand tonnes (kt) of cuts to offset the ramp up of projects and to prevent surpluses building significantly. If more curtailments are not forthcoming, prices will test marginal (90th percentile) costs of $2/lb.

"In nickel, we conclude that 55% of the industry is loss making on a cash basis at current price levels, but there appears to be little appetite to cut with just 30kt of production cutbacks so far. The market is focusing on the slow pace of Indonesian nickel pig iron development and nickel stock drawdown over the next 3-4 years rather than high above ground stocks unavailable to the market.

"In zinc, prices had held up much better with only a very low percentage (around 10-15% of zinc miners are losing cash at current price levels) losing money on a cash basis at current prices. Prices would have to be much lower to precipitate more cuts yet the market is relatively balanced and trending to deficits until 2019 so one questions the need for cuts from a fundamental perspective."

In regards to zinc, Glencore took major actions earlier this month to raise the price after it viewed the metal as undervalued.

It announced it will slash it zinc output, suspending operations at Lady Loretta and reducing output at Macarthur River and George Fisher, as well as cutting more than 500 jobs.

"Glencore believes that current prices do not correctly value the scarcity of our zinc resources; our finite resources are valuable and reducing production, in response to current prices, preserves value," it said in a company statement.

According to a source close to the company, it believes it is more valuable to reduce production and keep the asset in the ground until prices rise, and sees the lack of a strong zinc pipeline ahead as a welcoming omen for potentially raising output in the future.

However Wood Mac wasn’t entirely negative on the sector, stating that for those who work against the trends there will be significant upsides.

“As we've witnessed in our cyclical industry, we believe that the winners will be those producers who invest counter-cyclically. The industry needs to sow the seeds for its future – without investment a critical shortage will follow," Kettle said. "

[Popeye82]

Bridging the mining productivity gap, new avenues are needed to fix mining's efficiency failings - MA - Oct 15, 2015

- C. Latimer -

www.australianmining.com.au/features/bridging-the-mining-pro…
------> www.ey.com/Publication/vwLUAssets/EY-productivity-in-mining-…

"The productivity gap in mining has come as a surprise for everyone except those working in the industry.

Mining is now 28 per cent less productive than it was a decade ago, with Australia sitting in the unwanted position of second least productive mining region in the world.

McKinsey's MineLens Productivity Index (MPI) reports released earlier this year highlight the general decline.

The report found productivity across Australian mines peaked at 104 points in 2007, and slumped to a rating of around 88 points in 2013.


Australia was in a unique position in which it was insulated from this decline in efficiency by soaring Chinese demand, and artificially high prices.

However, as the market saw, this growth could not be sustained indefinitely, and the resulting downturn has wiped billions of dollars from miners.

Solving this productivity crisis is crucial, not just for miners, but for the Australian economy as a whole.

Yet the proper steps are not being taken.

In Ernst & Young's Productivity in Mining: Now comes the hard part report, it stated that many of the executives interviewed said productivity is the number one challenge in mining, and firmly on their agenda.

"The popular tagline of the mining sector is that the miners are serious about productivity: we suggest that most are reducing costs and increasing volumes but there are precious few with legitimate claims to improving core productivity," PwC also stated.

E&Y added: "Many found that productivity decreased as operations got larger, and that it was difficult to manage the complexity of these larger operations, particularly given the additional challenge of high turnover and lack of experienced staff in focusing on driving efficiency.

Mining seems almost set up to fail, so what can it do?

It needs to go beyond the basics.

"Our view is that mining companies should move beyond point solutions, and adopt an end-to-end solution to transform the business," E&Y stated.

"There is a need to ensure that each part of the business is optimised, not on its own but as part of a business system."

This wider, holistic view was supported by the Boston Consulting Group, which stated, "As the supply of 'low-hanging fruit' is exhausted it has become increasingly necessary to go beyond traditional approaches to productivity improvement."

This was echoed by E&Y which said that "many productivity initiatives to date have focused on cost cutting¬but our participants have acknowledged that what needs to be done is now more complex".

So what about the boots on the actual ground?

Efficiency in contract management is one of the major avenues for dramatic shifts in productivity, BCG stated.

"Companies need to consider two additional pillars of performance: effective management systems and people excellence," it said.

"One effective, though often neglected avenue to productivity is contractor management."

This could constitute contract consolidation, with one miner demonstrating that by combining four different auxiliary equipment leases it was able to create savings of 15 to 25 per cent of its annual expenditure.

On the other hand segmenting contracts that require different services or capabilities on the basis of the scope of their component parts creates new efficiency opportunities.

"On average, applying multiple levers [to contractor management] can generate a total savings of 10 to 20 per cent of the contracted costs," BCG stated.

Another avenue is the machine-run mine.

Automation is being touted as the saviour of mining, but it will not be the panacea for the current productivity woes.

Big Data is aiding this push, allowing for greater granular view on operations and more precise decisions to be made thanks to more detailed data.

But it can't fix every problem.

"A well run mine that implements automation becomes a well run mine that is automated, while a poorly run mine that implements automation simply becomes a poorly run mine that has automation," Rio Tinto's Lilleyman Group Executive and head of technology and innovation told Australian Mining.

"Productivity is a CEO issue and therefore needs the CEO to lead and drive end-to-end transformation to solve the issue," E&Y added.

There are a number of avenues available for miners to increase productivity, apart from the traditional slash-and-burn, belt tightening mentality, and as the industry currently sits at a point where it has little more fat to cut, these avenues must be taken if it is to grow. "

[Popeye82]

ICL - Completes Formation of China Phosphate Joint Venture With Yunnan Yuntianhua - TEL AVIV - Oct 12, 2015

- Strategic alliance with Asia's leading producer of phosphates will nearly double ICL's phosphate market share and strengthen its position as the leading specialty phosphate player -

- JV will include a mine producing ~2.5 million tonnes of phosphate rock per year and a world-scale downstream phosphate operation, and will invest over $300M to build Asia's leading specialty phosphates player -

- JV is a key milestone in ICL's "Next Step Forward" strategy to diversify and upgrade its sources of raw materials, improveits efficiency and expand its specialty business into emerging markets
http://repo.icl-group.com/Lists/MediaServer_Documents/ICL%20…

"ICL (NYSE and TASE: ICL), a global manufacturer of products based on specialty minerals that fulfill essential needs of the world's growing population in the agriculture, processed food and engineered materials markets, announced that it has completed the formation of a joint venture company ("YPH JV") with Yunnan Phosphate Chemicals Group Corporation Ltd. ("YPC"), China's leading phosphate producer.

The YPH JV, which includes a world-scale phosphate rock mine producing approximately 2.5 million tonnes of phosphate annually and a large-scale phosphate operation, is expected to be a leading player in China's phosphate sector, operating an integrated, world-scale phosphate platform across the value chain. It will include upstream mining, bulk fertilizers and downstream businesses in specialty fertilizers, as well as in specialty phosphates for the food and engineered materials markets.


ICL's current phosphates business is focused on fulfilling essential needs in agriculture (commodity and specialty fertilizers), food (texture and stabilization of processed foods) and engineered materials (for industrial markets). Beginning from a competitive rock-mineral basis, 75% of the phosphate products of ICL's phosphate business unit are sold via a fully integrated value chain, from bulk fertilizers downstream into specialty applications.

The YPH JV represents a key milestone in ICL's "Next Step Forward" strategy by increasing ICL's phosphate platform by more than 50%, securing its long-term reserves and expanding its phosphate end-to-end business model focusing on Asia. The partnership is expected to transform ICL into the world's leading specialty phosphate player and to nearly double its global phosphate market share. The YPH JV is also expected to improve the cost competitiveness of ICL's phosphate operations by providing ICL with access to a low-cost phosphate rock operation with vast reserves, as well as with low-cost phosphoric acid. ICL also sees major potential for phosphates specialties in China, and through the YPH JV it will be well-positioned to capture this opportunity. The YPH JV further adds ammonia-based fertilizers to ICL's portfolio which will enable ICL to serve its customers with a broader suite of solutions.

The YPH JV partners expect to invest about $340 million, on a 50/50 basis over the next five years, building specialty plants and tripling their white phosphoric acid (WPA) capacity. The parties have also agreed to produce and sell WPA in China exclusively through the JV within five years following closing.

In addition, in August, 2015, the YPH JV partners established a phosphate R&D platform in Kunming (Yunnan province) which will focus on developing phosphate-based technologies and providing strong technical support for the YPH JV's phosphate business, as well as the parties' respective businesses. Nearly a dozen projects have been initiated since the R&D unit was launched.

The YPH JV will be controlled by ICL and its results, including assets and liabilities, will be consolidated into ICL's financial reports. ICL will lead the operations of the business and will merge its existing businesses in China into the YPH JV which will be fully integrated into ICL's global businesses and corporate governance and will become a fully operating business unit of ICL.

Commenting on the news, Mr. Ta Shenghua, Chairman of Yunnan Yuntianhua, stated, "We are very pleased to finalize our strategic relationship with ICL, a global phosphates industry leader. We look forward now to fully integrating Yunnan Yuntianhua's large-scale raw material reserves and infrastructure with ICL's expertise and technologies to create a powerful phosphates player that will conduct activities along the entire value chain - from mining to manufacturing downstream products. Together, Yunnan Yuntianhua and ICL will work to transform the phosphates industry in China and other Asian markets, as well as contribute to Chinese society and industry."

Stefan Borgas, CEO of ICL, added, "We are very pleased to finalize our strategic alliance with Yunnan Yuntianhua ahead of schedule, thanks to the close cooperative effort of our respective teams, as well as the Chinese regulatory authorities who appreciate the potential value of this joint venture between two leaders of the global phosphate industry. Our YPH JV with Yunnan Yuntianhua provides ICL with access to major phosphate reserves and a strong platform from which to build the leading specialty phosphate business in fast-growing Chinese and Asian markets. It also strongly expresses ICL's dedication to meeting the essential needs of China's growing population because the JV will provide specialty fertilizers to China's large agricultural market, specialty phosphate products to many engineered materials markets as well as food additives for Asia's fast growing processed food industry. We look forward to continuing our great relationship with Yunnan Yuntianhua to serve these and other burgeoning Asian markets and to improve the profitability of both parent companies."


Closing Details

The closing occurred following the parties' satisfaction of the closing conditions, including all necessary approvals and ICL's payment of approximately $180 million in consideration of its share of the YPH JV. ICL's 15% investment in YTH (which was also a closing condition) has been preliminarily approved by the PRC Ministry of Commerce and is pending final approval by the China Securities Regulatory Commission (CSRC).

Following the closing of the YPH JV agreement, All of ICL's existing Specialty Phosphates business in China prior to March 25, 2015, will be folded into, and managed by, the YPH JV after a transition period.

***


About ICL

ICL is a global manufacturer of products based on specialty minerals that fulfill humanity's essential needs primarily in three markets: agriculture, food and engineered materials. The agricultural products that ICL produces help to feed the world's growing population. The potash and phosphates that it mines and manufactures are used as ingredients in fertilizers and serve as an essential component in the pharmaceutical and food additives industries. The food additives that ICL produces enable people to have greater access to more varied and higher quality food. Other substances, based on bromine and phosphates help to create energy that is more efficient and environmentally friendly, prevent the spread of forest fires and allow the safe and widespread use of a variety of products and materials.

ICL benefits from a broad presence throughout the world and proximity to large markets, including in emerging regions. ICL operates within a strategic framework of sustainability that includes a commitment to the environment, support of communities in which ICL's manufacturing operations are located and where its employees live, and a commitment to all its employees, customers, suppliers and other stakeholders.

ICL is a public company whose shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs approximately 11,000 people worldwide, and its sales in 2014 totaled US $6.1 billion. For more information, visit the company's website at http://www.icl-group.com "

[Popeye82]

Antwort auf Beitrag Nr.: 50.748.177 von Popeye82 am 01.10.15 06:59:18

Russia "Just Locked Down Control Of This Key Mining Nation "

http://piercepoints.com/russia-mining-platinum-gold-diamonds…

"I discussed last year how Russia is making big moves in African mining. And late last week we got confirmation the pariah nation is moving fast to control a number of key commodities here.

That's in Zimbabwe. Where Russian officials told local press they're proceeding quickly with one of the biggest mineral developments on the continent.


Russian Deputy Minister of Industry and Trade Georgy Kalamanov said live from Harare that a new $3 billion platinum complex is going "according to schedule". With the Deputy Minister noting that Phase I of the project--which includes mines and processing facilities--is just "a first step" for Russia.

Toward that end, he unveiled plans for Phase II of the platinum development. Which he said will commence in March 2016, and include two new underground mines and a second processing plant.

This news comes just over a year since Russia initially announced the Zimbabwe project. Suggesting that design and construction has moved very rapidly -- showing just how eager Russia is to cement influence in the mining sector here.

The implications are far-reaching for global markets. Russia domestically controls 30% of global platinum and palladium output. And Zimbabwe's mines represent the world's fourth-leading source of these metals -- meaning that Russian control in the African nation could create a stranglehold on this market.

And the emerging reports suggest Russia won't stop at platinum. With Zimbabwe press noting that Russian officials are also pursuing projects in gold and diamonds. Gazprom has even reportedly expressed interest in developing coal-seam natural gas in the country.

This is a critical development for metals, getting almost no press globally. What happens here could change the worldwide platinum market -- and the changes are coming very quickly.

Here's to keeping an eye out,



Dave Forest "

[Popeye82]

This Mining State Just Cancelled 90% Of Its Licenses
http://piercepoints.com/mining-minerals-natural-resources-in…

"India's recent push to stamp out corruption has been laudable -- especially in the country's all-important mining sector.

And news this week suggests the clean-up effort is intensifying. Once again signalling major changes underway in the minerals sector here.


India's key mining state Rajasthan said late Saturday it is taking unprecedented action against its corrupt mining agency. By cancelling the majority of minerals licenses issued by this authority.

The state government said it will nullify 601 out of 653 licenses issued by the mining agency. Representing a full 90% of the tenements granted in recent years.

That comes after the agency's Secretary, Ashok Singhvi, was arrested last month following an undercover investigation. Which found that he and his aides accepted bribes in return for expediting and prioritizing mining applications.

The move by the state government is a strong one. Stripping assets from some of the most powerful business people in India, some of which have been held for years already.

But the government seems intent on sending a message. An escalation from past policy -- where "anti-corruption" drives were often just wallpaper intended to give the impression of good governance but not effectively changing much.

This is yet another sign that the "new India" under Prime Minister Modi is serious about reforming rampant corruption. A fact that should be encouraging for all natural resource project developers.

States like Rajasthan hold immense potential for exploration and development. Gold, platinum, copper and zinc showings are abundant here -- and the level of modern exploration is exceedingly low.

If moves like this week's licensing clean-up improve permitting, this could be one of the next big rushes in exploration. It's going to take time to sort things out, but the time is ripe to start desk studying on this could-be hotspot.

Here's to cancelling contention,



Dave Forest "

[Popeye82]

eine übersicht
finde ich für einen "schnellen blick" gar nicht so schlecht

[Popeye82]

'Mining & Metals in a Sustainable World 2050 report' - World Economic Forum/Boston Consulting Group - Sep15

- Gillian Davidson -

- Contents

Foreword

Executive Summary

Mining & Metals in a Sustainable World 2050 –A Case for Action

A Framework for Mining &Metals in a Sustainable World 2050
- Drivers of Change
- Areas of Transition
- Scenarios, on the Future, of Resources
- Roadmaps, +Actions


Applying the Framework –Circular Use of Commodities +Metals
- Scope +Focus: Five Aspects of the Circular Use of Commodities +Metals
- A Desired End State for 2050
- Idenfitying Gaps
- Potential Disruptions
- Scenarios, +Roadmap Building

Next Steps

Acknowledgments

Endnotes -

- Foreword

The mining and metals industry is an integral part of any foreseeable economy and society. As a provider of employment and essential materials, it is connected to almost all industry value chains. Yet, the industry faces major challenges and uncertainties.

The weakness in global markets following the financial crisis has been compounded by falling commodity prices and the short-termism of many shareholders. The industry is also under pressure from stakeholders, ranging from changing consumer demands to the promotion of sustainable resource use by regulatory bodies. Companies are increasingly expected to operate more sustainably and to define and implement action reflecting this priority.

This report comes as the post-2015 development agenda kicked off with the Finance for Development Summit in July and as the world prepares for the UN Summit on the Sustainable Development Goals (SDGs) in September in New York and the UN climate change conference in December in Paris. The mining and metals sector is essential to the achievement of this agenda through its activities and products and will launch a joint mapping of the sector and SDGs later in 2015.

Although many stakeholders have set objectives for more sustainable and responsible mineral development, the path towards a more sustainable world is full of uncertainties. There is an opportunity for different actors in the sector to develop solutions to these shifts and move beyond a passive acceptance of their consequences to pro-active action and innovation. A clear understanding of the potential challenges and opportunities is now key to prospering in a changing environment and finding new opportunities for growth.

The Mining & Metals in a Sustainable World 2050 project was launched against this backdrop and with the support of the Boston Consulting Group as project advisor. The report focuses on strategies and actions for companies, and aims to enable and contribute to a discussion about the sustainable future of the planet. The goal is for companies to not only think about these issues, but also to act upon them. It also highlights the major transitions that will shape the mining and metals value chain in this new sustainable world, and to provide a framework to support the actions required.

The report is the direct result of a cooperative process with members of the private sector, governments, the academic community, civil society and multilateral organizations from around the world. The World Economic Forum is extremely grateful to many stakeholders for their input and support, and looks forward to pursuing dialogue as this work continues. ...-
------> www3.weforum.org/docs/WEF_MM_Sustainable_World_2050_report_2…

[Popeye82]

Gold Mining Contributing $171,000,000,000 to World Economy

www.equities.com/editors-desk/futures-commodities/gold-minin…
------> www.gold.org/news-and-events/press-releases/gold-mining-indu…

"The World Gold Council, in conjunction with the consultancy group Maxwell Stamp, recently released a report to show how much the gold mining industry contributes directly to the economy in 2013. The figure was a gold-level $83.1 billion. The report also stated that the direct impact of gold mining combined with the indirect economic impact is up to $171.6 billion.

The study on the gold mining industry’s economic impact was compiled to better understand how gold production impacts both local and global economies. The study also analyzed how gold mining in the 47 largest gold producing countries contribute to employment. This accounted for 90% of the world’s gold production!

When the value created by support services and indirect employment is taken into consideration, the impact of the gold industry is staggering: Experts from the World Gold Council, such asJohn Mulligan, Head of Member and Investor Relations at the World Gold Council says “This report shows that the total economic impact of gold mining is significant and substantial. Our findings highlight that commercial gold mining is a major source of income and driver of economic growth, playing an important role in supporting the sustainable socioeconomic development of host nations and communities.”


Gold Brings Local Jobs and Higher Wages

One of the key findings in the report was that over a million people are employed by gold mining companies worldwide. The World Gold Council also found that most gold mining companies hired local workers, which positively affected those local economies. Furthermore, while gold mining employment positions are not as plentiful as other industries, the report also stated that the wages are higher.

Some of the gold producing countries in the report are considered in the “lower-middle” income with substantial “socioeconomic needs.” The study found that gold mining in those countries helped produce a rise in the income status of that gold-producing country.

Another important find in the report is that 70% of the value produced by gold mining companies is derived from local supplier and employees. Furthermore, gold mining companies often contribute to local economies through corporate and income taxes – as well as through lesser mean such as permits and royalties.

2015 has been an especially difficult year for gold mining companies. “The combination of a dramatic slowdown in growth in China, a stronger US dollar and slower projections for growth globally have hurt gold prices generally, and gold mining companies in particular,” notes Anthony Allen Anderson, Director of Sales Operations with Culver City-based Gold Silver Group.

Anderson’s team has handled more than $1 billion in commodities and precious metals transactions around the world, developing customized precious metals portfolios and physical precious metals IRAs for investors, “while most people are afraid of guessing wrong on the long-term prospects of individual mining companies, we are seeing opportunistic investors reentering the gold and silver bullion market where there is some excellent value and investment potential.”


DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer "

[Popeye82]

Uranium to bring jobs, export boom back to Australia’s mining industry —report, a study commissioned by the Minerals Council of Australia shows the economic benefit from the sector could increase tenfold to $9,500,000,000

www.mining.com/uranium-to-bring-jobs-export-boom-back-to-aus…
------> www.minerals.org.au/file_upload/files/publications/Realising…
www.minerals.org.au/news/realising_australias_uranium_potent…

"Australia’s mining industry could enjoy a job and export growth boom given the right ­policy settings in the uranium sector, according to a new report.

The study, commissioned by the Minerals Council of Australia, found that under high-growth scenarios for local uranium production and nuclear power in a carbon-constrained world, the economic benefit from the industry could increase tenfold to $9.5 billion.


Australia holds enormous opportunity for jobs and export revenue growth as governments around the world continue to adopt policies to deal with climate constraints.

According to the council’s executive director for uranium, Daniel Zavattiero, Australia holds enormous opportunity for jobs and export revenue growth as governments around the world continue to adopt policies to deal with climate constraints.

“Such opportunities will only be realizable if Australia undergoes policy reforms making it a more attractive uranium investment destination, and a more competitive supplier,” he said in a statement.

While the scale of growth in demand will be determined by global nuclear power growth, Australia is in a position to control its share of global production. Australia is the third-largest supplier behind Kazakhstan and Canada.

“With vision, policy ­reform and state and federal commitments to increase competitiveness and investment attractiveness, Australia could target a share of global production closer to its resource endowment,’’ Zavattiero said.

The report, Realizing Australia’s Uranium Potential, found there are three priority reforms Australia needs to increase its uranium production towards its global share of resources:

- Removing exploration and mining bans in those states where the bans exist;
- Excluding the federal government from the current dual state/federal environmental assessment process;
- And increasing the number of ports through which uranium can be exported.


The study comes as uranium prices have begun to pick up this year, leaving their post-Fukushima lows behind and currently trading at around $37.75 a pound.

Only last week, Australia's Northern Territory indigenous community rejected Energy Resources of Australia (ASX:ERA) plans to extend the company’s Ranger uranium mine permit.

The community’s opposition could mean the Rio Tinto-owned miner has to write down the value of its assets. "

[Popeye82]

Two Aussie mines start moving all their iron ore with driverless trucks, automated trucks @Rio Tinto's Yandicoogina +Nammuldi mines are being controlled through an operations centre in Perth 1,200 kilometres away
www.mining.com/two-aussie-mines-start-moving-all-their-iron-…
www.abc.net.au/news/2015-10-18/rio-tinto-opens-worlds-first-…
www.mining.com/the-mine-of-the-future-might-be-a-thing-of-th…
www.bhpbilliton.com/investors/news/BHP-Billiton-Opens-Jimble…

"Labour unions may not like it, but it is likely that future mines will operate with a much higher percentage of automated (read "driverless") vehicles than currently.

Indeed, mining technology slipped into a higher gear this week with the announcement that the first two mines to start moving all their iron ore using remote-control technology just went online in the Pilbara iron ore belt of Western Australia.


Automated trucks at Rio Tinto's (ASX, NYSE, LON:RIO) Yandicoogina and Nammuldi mines are being controlled through an operations centre in Perth 1,200 kilometres away, according to a weekend post on the Australian Broadcasting Corporation's site. The iron ore behemoth now has 69 driverless trucks across its Yandicoogina, Nammuldi and Hope Downs 4 mines, states ABC. The trucks run 24/7, every day of the year and each truck is estimated to save around 500 work hours annually.

The ascent of driverless mining vehicles, of course, is not exactly news; it is part of a larger shift towards increased automation in mining. The difference between previous driverless applications and the news on the weekend is that Yandicoogina and Nammuldi will move all their iron ore without the guidance of a human driver.

A brief history: Back in 2011 Mining.com reported on Rio Tinto reaching a deal with Komatsu to buy 150 driverless truck over the next four years. At the time Rio said the vehicles will increase productivity by hauling more material quicker. Three years later, BHP Billiton completed a trial of Caterpillar driverless trucks at its coal mine in New Mexico, and in 2013 started using autonomous haulers on a trial basis at its Jimblebar iron ore mine in the Pilbara.

Fortescue Metals Group (ASX: FMG) has said it has future plans to implement automated trucks at its Solomon mine, also in Western Australia, while Caterpillar (NYSE: CAT), the world's largest heavy equipment manufacturer, has a complete line of high-tech autonomous mining equipment, including driverless dozers and haulers.

In 2014 when BHP Billiton (NYSE:BHP) opened the Jimblebar iron ore mine, the opening coincided with an announcement that BHP would expand its driverless truck fleet from the six Caterpillar 793F autonomous trucks being trialed at Jimblebar since 2013, with another six to be tested at its neighboring Wheelarra operation.

ABC quotes a mining commentator, Giuliano Sala Tenna from Bell Potter Securities, as saying the shift to driverless is necessary for Australian producers to stay ahead of competition in other countries. "The benefit of technology is the one to many relationship, so you can just have one individual or one full time equivalent doing the job of many people," he said. Along with cost savings, autonomous technology is also expected to make open-pit operations safer, since the work haul truck operators do can be dangerous and accidents can occur due to fatigue. "

[Popeye82]

Depleting Escondida drops BHP copper production, Copper output @the world's largest copper mine slips 14%, due to declining grades +DESPITE record material mined

www.mining.com/depleting-escondida-drops-bhp-copper-producti…
www.bhpbilliton.com/~/media/e630d844e21849c19cd66178a426ac16…

"In its operational performance report BHP Billiton (ASX:BHP, NYSE:BHP) announced on Tuesday its first quarter iron ore production rose 7% to 61.3 million tonnes compared to last year and on track to meet full-year guidance of 247 million tonnes.

The increased output was thanks to ramp-up of the Jimblebar mining hub at in Western Australia during its 2015 financial year.

Copper output slipped 3% year on year and 13% compared to the June quarter this year to 377,000 tonnes mainly because of a decline in grades at Escondida, the world's largest copper mine in Chile.


Escondida copper production for the September 2015 quarter decreased by 14% to 230,000 tonnes despite record material mined. BHP is spending $3.4 billion on water project at 57.5%-owned Escondida for completion in 2017.

The Melbourne-based firms said production guidance for Escondida remains unchanged at approximately 940,000 tonnes for the 2016 financial year "as increased throughput, enabled by the completion of the Escondida Organic Growth Project 1 and operational improvements, will only partly offset an anticipated 27% decline in grade."

BHP also says it received approval to extend operational permits to 2023 at its Cerro Colorado copper mine in Chile. For the current year BHP is sticking to overall production guidance of 1.5 million tonnes.

The September quarter production of met and thermal coal were both static compared to last year at a respective 10.4 million and 9.8 million tonnes. The company said productivity improvements offset planned longwall moves and wash-plant shutdowns at the Queensland met coal operations.

BHP also says it will cut capital spending in its petroleum division by $200 million to $2.9 billion.

Oil and gas production for the quarter fell 4% year on year to 64.5 million barrels, but the company is maintaining guidance of 237 million barrels for the full financial year and the company said it continues to pursue high-quality oil plays with additional prospective acreage acquired in the Beagle sub-basin in Western Australia and the Western Gulf of Mexico. "

[Popeye82]

Beijing rescues giant iron ore importer, chinese government intervenes to save Sinosteel from default, indicating Beijing's free market reforms are stuttering

www.mining.com/beijing-rescues-giant-iron-ore-importer/?utm_…
www.scmp.com/business/companies/article/1869831/chinas-watch…

"The Chinese government and the country's steel industry faced a big test on Tuesday with Sinosteel, one of the biggest importers of iron ore in the country, on the brink of defaulting on its bonds.


Sinosteel is primarily a trading company, but also operates steel mills and owns chrome operations in South Africa and iron ore projects in West Africa and Australia. The company has been on life-support for more than a year, hurt by the combination of low iron ore prices and weak domestic steel demand.

Sinosteel is one of only 113 elite state-owned firms centrally managed by Beijing and on Tuesday the Chinese government once again bailed out the company. In an unprecedented step, the government intervened in the corporate bond market where $315m in interest payments from Sinosteel came due on Tuesday.

The South China Morning Post reports that it was "the first time state regulators have intervened in a corporate credit case. In the five previous cases in the country this year, the companies were bailed out by shareholders."

Under President Xi Jinping the communist government has promised to increase transparency and allow market forces determine the future of sectors, most notably steelmaking, which have been characterized by overproduction and unprofitability for years. Today's action shows Beijing is not quite ready to let the many creaking state-owned enterprises sink or swim by themselves .

Rio Tinto (LON:RIO) and Sinosteel inked a deal in November last year to extend a long-term iron ore joint venture in Australia's Pilbara region, which had delivered about 250m tonnes of iron ore under an offtake agreement.

At the time of the signing Rio’s chief executive Sam Walsh said the operation had become one of Beijing’s longest running and most successful partnerships with Canberra and “a model” for economic cooperation between the two countries.

China is responsible for more than two-thirds of the world's iron ore consumption and forges almost as much steel as the rest of the world combined. Benchmark iron ore prices continued to drift lower on Tuesday, with the import price at the port of Tianjin falling 0.8% to $52.10, a fresh 12-week low. The steelmaking ingredient is down 26% this year following a 47% decline in 2014.

The World Steel Organization, last week forecast that steel demand in China is expected to decrease by -3.5% in 2015 and -2.0% in 2016, after hitting a demand peak in 2013. Global steel demand will shrink 1.7% to 1.5 billion tonnes this year before expanding modestly in 2016 according to the industry body. "

[Popeye82]

Venezuela ready to dump 80 tonnes of gold, with no hard currency and $5 billion in debt payments due before the end of the year, the country's bullion held in Caracas is its only source of cash
www.mining.com/chavez-gold-repatriation-blows-up-in-venezuel…

[Popeye82]

Alrosa sells less than half the diamonds it mined, the “company’s results REFLECT A CLEAR COLLAPSE IN GLOBAL DEMAND, which is forcing producers, including Alrosa, to stockpile a portion of the output. This situation may roll over to the next year”
www.mining.com/alrosa-sells-less-than-half-the-diamonds-mine…
www.alrosa.ru/wp-content/uploads/2015/10/2015-10-21_IR-relea…
www.mining.com/chinas-weak-demand-for-diamonds-drags-sector-…
www.bloomberg.com/news/articles/2015-10-21/alrosa-sold-42-of…

"Russia's Alrosa, the world's top diamond producer by output in carats, added to the increasing gloominess in the industry Wednesday by revealing it was able to sell only 42% of the precious stones it mined in the quarter ending in September.

The rough-diamond miner extracted about 11.6 million carats in Q3, or 20% more than in the same period last year. However, it sold merely 4.9 million carats in the period, according to the quarterly results published today.


Konstantin Yuminov, an analyst at Raiffesenbank AO, told Bloomberg the company’s results reflect a clear collapse in global demand, which is forcing producers, including Alrosa, to stockpile a portion of the output. “This situation may roll over to the next year,” Yumoniv noted.

In the first nine months of the year, the Russian giant mined 29.6 million carats, 16% more than the previous year, and sold 23 million carats, it said. Revenue from rough diamond sales will be more than $550 million in the third quarter and at least $2.7 billion in the January to September period, the company added.

Diamond miners have been dealing this year with falling prices, difficulties to sell their existing inventory into softening markets, and tougher financing conditions.

Some of them, such as Anglo American-owned De Beers — the world’s No.1 diamond producer —, have decided to try boosting sales by spending more in marketing, particularly in China.

The goal, says the company, is to prop up growth and attract new consumers, targeting women between the ages of 18 and 29, and buyers in third- and fourth-tier cities.

Rival Rio Tinto (LON:RIO), the third-biggest diamond miners, prefers to wait as it believes that China’s demand for the precious rocks will pick up pace faster than the global average soon, driven by gains in household wealth that would trigger a demographic and cultural shift across the nation. "

[Popeye82]

This "First-Ever Strategy Just Created 22,000,000 Barrels Of Oil"
http://piercepoints.com/natural-gas-liquids-oil-offshore-nor…

"Developers and investors holdings old, “depleted” oil and gas fields, take note — you might be sitting on a lot more in reserves than you think.

That’s the message this week from a world-first breakthrough in offshore production. Coming in the mature climes of Norway’s North Sea.

Veteran operators Statoil and OMV said they have installed the world’s first subsea wet gas compressor. A piece of equipment that has single-handedly led to a massive leap in recoverable reserves at the target Gullfaks natural gas field.


Compressors are a common piece of equipment at North Sea gas fields — used to keep up production even as pressure in a reservoir formation falls due to pumping over time.

Up until now, compressors have been mounted above-water, on top of production platforms. But Statoil’s new tech changes that, by placing the compression equipment directly on the seafloor.

And that change in location makes a huge difference — actually creating new reserves.

The things is, compressors work more effectively when located closer to the wellhead. And the seafloor is as close to the wellhead as it gets — making the subsea compressor the most optimized position for this type of technology.

The impact on production and reserves is huge. With Statoil estimating the Gullfaks subsea compression system will extract 22 million barrels of oil equivalent (boe) above and beyond what previous equipment could have accomplished.

In effect, this breakthrough has added new reserves out of thin air.

This is one of the biggest developments in decades for the offshore sector. With Statoil having been working on the technology since 2005.

And this leading-edge strategy is now being deployed across the North Sea. With a $2.3 billion installation now going ahead at Statoil’s Asgard complex — expected to increase production by a stunning 306 million boe over the field’s life.

This is the kind of stealth engineering shift that turns fields from marginal to marvelous. Watch for big value being created as this ripples through the E&P sector.

Here’s to a breakthrough on break-throughs,

Screen Shot 2015-10-13 at 8.54.15 PM



Dave Forest "

[Popeye82]

55% miners had intended to make significant investments in 2017, NOW DROPPING TO 15%
www.australianmining.com.au/news/miners-to-keep-spending-und…

"Miners continue to rein in spending intentions, according to a survey of miners by Citi Research.

Citi, which assesses spending intentions of miners quarterly, said that for the next year capital expenditure expectations have weakened slightly.


Responses to its survey suggest a drop in equipment spending of 1.5% in the next year. In its previous survey, the expected drop was 0.8% suggesting increasing pessimism about investment into operations.

“This marks the second consecutive quarter when we have seen a step-down in expectations since the fourth quarter of 2014 when we saw momentum building (+3% vs -0.8% in 3Q14; -7% in 2Q14 and -3% in 1Q14),” Citi analysts write.

Likewise Citi suggests miners are pushing out major spending intentions. Miners had previously signalled in Citi surveys that they planned big investments in 2017.

In the last report Citi notes that 55% had intended to make significant investments in 2017. But that now drops to “only 15%”.

Instead, big spending intentions have been pushed out to 2018. Citi says 62% of respondents said they would start making significant investments in 2018, up from 18% in the last report.

Notably, “This is the fourth consecutive time when spending intentions have been pushed to the right by 12 months,” Citi says.

In metals and minerals, Citi says the survey results suggest the outlook for diamonds has picked up, but worsened for iron ore. Meantime, coal and platinum fell into the negative category whereas gold, base metals, and copper were viewed as having positive prospects.

Still, there was some strength in the spending intentions. Citi noted most respondents signalled “greater than average” spending on mining tools.

In terms of stocks that could see growth, Citi highlighted Atlas Copco. The survey results suggest “strong production volumes underground, in our view” and that means “relatively better demand for Mining Tools and Drilling Equipment” which it considers “a positive for buy-rated Atlas Copco”.

Citi, overall, forecasts a decline of 15% in capex spending to 2017, mostly accounted for by cut backs on infrastructure. "

[Popeye82]

MMG’s gigantic Las Bambas mine in Peru to open next year despite protests, the copper mine, one of the world's biggest, is on track to begin production in the 1st quarter of '16, despite weak prices +relentless protests against the project

- The mine, located at 4,000 metres in the south of the South American country, is set to deliver 400,000 tonnes of copper per year during the first five years of production placing it within the top three copper mines globally. -
www.mining.com/mmgs-gigantic-las-bambas-mine-in-peru-to-open…

"MMG’s Las Bambas copper mine in Peru, one of the world's biggest mines of the red metal, is on track to begin production in the first quarter of 2016, despite weak prices and relentless protests against the project that left four dead and 16 seriously injured last month.

Melbourne-based and Hong Kong-listed MMG, which acquired the $7.4 billion copper-silver-molybdenum mine from Glencore (LON:GLEN) in August 2014, said it has already completed the installation of conveyor belts, while all four electric shovels and 38 trucks are operational.

A shipment of 600 concentrate transport containers were dispatched from China and 80 rail wagons are ready for shipping, MMG said, adding that it expects to spend a total $1.9-2.4 billion this year at the project.

A shipment of 600 concentrate transport containers were dispatched from China and 80 rail wagons are ready for shipping, MMG said, adding that it expects to spend a total $1.9-2.4 billion this year at the project.

"While we have some challenges ahead yet, the Las Bambas team is to be congratulated for their commitment to deliver this flagship project on schedule and within budget," MMG CEO Andrew Michelmore said in a statement.

Las Bambas is set to deliver 400,000 tonnes of copper per year during the first five years of production placing it within the top three copper mines globally.

The mine, located at 4,000 metres in the south of the South American country, will also produce significant amounts of silver, gold and molybdenum over its 20-year mine life. Las Bambas boasts 6.9 million tonnes of copper reserves and a 10.5 million tonne resource.


$21bn investment delayed

Peru has been the favoured destination for copper investment in recent years.

New mines coming on stream in the country in the following months and 2016 will double production to 2.8 million tonnes, placing the country in second place globally behind Chile.

According to data from the Peruvian Institute of Economics, however, social conflicts and red tape are making that goal difficult, as they have already caused the delay of $21.5 billion worth of mining projects in recent years.

the Apurimac region, near the Las Bambas Project, continues to be under martial law following last month unrest.

Meanwhile the Apurimac region, near the Las Bambas Project, continues to be under martial law following last month unrest. During such period, civil liberties including freedom of association and movement are restricted, while police are allowed to enter houses without search warrants.

Mining accounts for 12% of Peru's GDP and 60% of its export earnings.

MMG, which also has operations in Canada, Australia, Africa and Laos, plans to produce 174,000-189,000 tonnes of copper and 440,000-510,000 tonnes of zinc this year despite closing its Century zinc mine, in Australia.

"

[Popeye82]

herzlich willkommen im rohstoffparadies

downloadbar,
2.link
linke seite

Myanmar jade rush muddies promise of change, fuels conflict as new report uncovers $30,000,000,000 trade - SH/TCP/GW, HPAKANT - Oct 24, 2015
www.stockhouse.com/news/newswire/2015/10/23/myanmar-jade-rus…

"Villagers in the jungles of Myanmar's northern Kachin state stand upon staggering wealth: Jade worth tens of billions of dollars. Yet they see almost none of that money, even as the precious stone is dug out from under them.

They've lost land, homes and entire communities to jade mining. The industry was worth more than $30 billion last year according to a new estimate by Global Witness, a group which investigates misuse of resource wealth. But there is so little investment in the region that cars on the main road to the state capital need elephants to rescue them from the mud. And while big, well-connected companies rake in most of the jade, informal miners risk and often lose their lives digging for the scraps.


At one site, dozens of men balanced on a shifting hillside of dirt and rock, jabbing with metal-tipped sticks for the telltale ring of jade as a house-sized dump truck disgorged its load of earth. A basketball-sized boulder tumbled from the dump bucket and barrelled down the white and grey slope. The bright-shirted jade pickers scattered in all directions, and as soon as the danger passed they were back, jabbing the dirt again.

In another corner of the 55 square miles transformed into moonscape by the jade industry, several men were buried alive in May when one of the mining-waste mountains collapsed. Photographs taken by a local man showed four corpses pulled from the dirt, streaked with dust and bloodied. They are among dozens maimed or killed in the past year.

Myanmar has changed much in the four years since a notorious military junta gave way to a nominally elected government and the long-isolated nation began opening up to the world. The biggest change for Hpakant, the centre of the jade industry, is that the pace of mining has turned frenetic. The lifting of many sanctions by the West has made it easier for local companies to import the battalion of Caterpillar, Volvo, Komatsu and Liebherr machines that now dig and haul around the clock

Researchers believe the dark green rocks that can be the size of giant boulders are enriching individuals and companies tied to Myanmar's former military rulers. The rapacity and industrial scale of the effort to extract jade is fueling a separatist conflict in Kachin state. And it is adding to doubts about the government's commitment to political reforms and fair economic development since ending its international isolation in 2011.

“Many people have been killed because of these huge mining companies. We hate these companies,” said Kai Ra, a member of a group that formed a year ago after there was no accountability or compensation for children and adults killed by trucks and landslides. “It's so painful to see these huge machines and whenever we see these earthmovers, we think these are murderers,” she said

In January, a landslide of unstable waste earth killed at least 30 jade pickers, according to lawmaker Kyaw Soe Lay. The tragedy barely registered beyond Hpakant, the epicenter of jade mining in Kachin, and no official death toll has been announced.

Authorities carefully monitor the area, particularly prohibiting foreigners, partly because of clashes between the military and independence fighters seeking autonomy for Kachin. Apart from rains, only attacks by Kachin fighters have interrupted the mining. The Associated Press gained access to Hpakant this year, interviewing residents and recording images that show a reckless rush to cart away the area's riches.

Jade is most prized in Myanmar's giant northern neighbour China and is more valuable than most precious gems: Last year, a jade bead necklace was sold for $27.4 million at a Sotheby's auction in Hong Kong. The Global Witness report released Friday estimates Myanmar's jade trade, official and illicit, was worth $31 billion in 2014. That dwarfs Myanmar's famous opium poppies, estimated by the United Nations at $340 million last year.

The group says its yearlong investigation shows the jade wealth is being divided among the over-lapping factions of the country's military, political and business elite rather than aiding development of a country where GDP per head is about $1,200.

No scrap of ground, no part of daily life in Hpakant is left untouched by the fleets of canary yellow trucks and backhoes that carve out the land to uncover thick jade deposits known as dikes.

In the dry season, the dust is everywhere. In the rainy season, the villages flood. The small Hpakant river can't absorb the massive runoff from the denuded distorted landscape.

As children walk to a school that sits near a precipice created by mining, the machines claw at the earth just meters away.

“There are many different kinds of accidents,” said Ye Tun, superintendent of Hpakant Public Hospital. “There could be landslides, stones hit the people, there could be floods,” he said. “People are hit accidentally by the machines or crushed.”

“It's always very often that we received those kinds of patients.”

Secrecy surrounding the jade industry in Myanmar has made precise estimates of its value difficult.

Sales at officially sanctioned emporiums are in the hundreds of millions of U.S. dollars but thought by experts to represent just a fraction of production, much of which is smuggled. Harvard's Ash Centre for Democratic Governance estimated two years ago that jade sales were worth $8 billion in 2011.

The Global Witness investigation arrived at its $31 billion estimate for last year's production from multiple sources: Chinese import figures that show about $12 billion of jade imported from Myanmar last year, Myanmar government production figures, industry estimates of the proportions of smuggled and officially exported jade, valuation data from official emporiums and the Ash centre's estimates of the proportions of the three major grades of jade.

Sean Turnell, a Myanmar economy expert at Macquarie University in Sydney, said the magnitude of Myanmar's jade business is a “growing revelation” that adds it to gas and narcotics as a source of illicit funding for the military. He said the methodology behind the $31 billion estimate is “more than sound.”

David Dapice, a Harvard professor behind the Ash study, said $31 billion is possible though not certain. The Chinese import figures alone make it clear “a lot of money” is involved. “Without jade, peace in Kachin state would be a lot easier,” he said.

Global Witness said its investigation shows the dozens of companies mining in Hpakant are controlled by a small number of players that include the family of former dictator Than Shwe, major military owned enterprises, ministers in the current government, a drug lord and business groups that were cronies of the junta government.

“What's happening to the money is the real question,” said Global Witness analyst Juman Kubba. “It certainly isn't helping the people of Myanmar or the people of Kachin state,” she said.

Hkyet La Lawt, a 43-year-old who is one of the leaders of Maw Maung Layang village in Hpakant, said they had little choice but to move the entire village when mining began to encroach upon it.

“This is not only my village. This is happening in every single village,” he said. “They just throw earth left and right and destroy our roads. You are going on one road and the next day it will have disappeared.”

“They'VE DESTROYED EVERYTHING. It's like we, the local people, are using their roads.”

---

Stephen Wright in Bangkok contributed.

Twitter: ?estherhtusan11 ?stephenwrightAP "

[Popeye82]

CNNC to open four new uranium mining bases, in China, by 2020 - CER/SCMP - Oct 22, 2015
www.chinaeconomicreview.com/node/67892

"State-owned China National Nuclear Corp has announced plans to build four new uranium mines in China, South China Morning Post reported, citing the firm's chief engineer Zhang Jindai.

Zhang said the mining bases in Guangdong, Jiangxi, Xinjiang and Inner Mongolia would each have annual output capacity of 1,000 tons of raw ore, or just under a quarter of the projected annual demand for nuclear fuel in 2020. Only about 30% of China's annual demand was met by domestic output last year, according to Zeng Yijun, a deputy director of the firm's Beijing Research Institute of Chemical Engineering and Metallurgy. "

[Popeye82]

India to roll out gold monetization plan, India has a plan to pull more gold into its banks, +the general public is set to play a pivotal role in the program

www.mining.com/india-to-roll-out-gold-monetization-plan/?utm…
www.reuters.com/article/2015/10/25/india-gold-idUSL3N12P0542…
www.profitconfidential.com/gold/top-10-countries-highest-gol…
http://articles.economictimes.indiatimes.com/2015-05-05/news…

"India has a plan to pull more gold into its banks, and the general public is set to play a pivotal role in the program.

On Sunday Indian Prime Minister Narendra Modi said the scheme to "monetize" the precious metal could be ready in weeks.

Under the plan, people who own physical gold will be allowed to put their metal into banks and earn interest until it is withdrawn. The idea is to mobilize the thousands of tonnes of gold estimated to be sitting idle in Indian households.


"Please, don't let your gold be dead money," Reuters quotes Modi as saying. "Gold is very important for the country. Gold can become an economic strength for us."

India is the world's top consumer of bullion, with many Indians placing high value on the precious metal as jewelry, often given as a gift, and as a store of value.

The country consumes close to 1,000 tonnes a year, with most of the gold imported; the gold monetization plan is a way to keep the metal in the country and avoid a situation that occurred in 2013, when high gold imports pushed India into a record current account deficit of $190 billion.

In May the Economic Times reported that the Indian public hold 20,000 tonnes of the yellow metal in jewelry, coins and gold bars.

Gold has been pouring into India since the government a year ago scrapped gold import restrictions, including the 80:20 rule, which required gold traders to export 20 percent of the gold that they imported.

While India is the world's top gold consumer, it is in 10th position among the top 10 countries that hold the most gold in their central banks. The Reserve Bank of India holds 557.7 tonnes of the precious metal, compared to number 9, the Netherlands at 612.5 tonnes, and eighth-ranked Japan at 765.2 tonnes. The top 3 central bank gold hoarders are the United States at 8,133.5 tonnes, Germany at 3,384.2 tonnes, and Italy at 2,451.8 tonnes, according to Profit Confidential which recently compiled a list. "

[Popeye82]

Nine rules for exploration success from the world's best mine finder, "Finding mines is a high-risk business. In addtion to the geological risk are the political risk, the metal price, risk, the mine financing risk+the timid, incompetent management risk. Success is the summation of a list of well-evaluated risks "

www.mining.com/nine-rules-for-exploration-success-from-the-w…

"Simply put, you just have to be out of the office, in the field and drilling holes if you want to be making discoveries says legendary explorationist and geologist, Dave Lowell, in his book Intrepid Explorer – The Autobiography of the World's Best Mine Finder.

Lowell—this past century's most successful mining explorationist having discovered an unprecedented seventeen ore bodies including the world’s largest copper mine—distilled his years of wisdom into nine rules on making discoveries. Reprint of the nine rules was generously permitted by Sentinel Peak, The University of Arizona Press.


I have a number of exploration rules that I follow:

1. Ore is rock which can mined at a profit. Low grade is sometimes mineable, and high grade is sometimes not.
2. Mines are found in the field, not the office
3. Mines are now almost always found by drilling holes, so if no part of the budget is spent on drilling there is almost no chance of success. (Pierina was the rare exception.)
4. Exploration is a cost/benefit business. Expensive high-precision core drilling is often used when low-precision low-cost rotary drilling would suffice. In the Atacama Project we spent $3 million on wide-spaced rotary drill holes. If we had used core holes our budget would have run out when less that half the holes were drilled including those that found the Escondida and Zaldivar orebodies. The same logic applies to all other exploration costs.
5. High-tech devices and geophysical surveys are very rarely of value in mine discovery. There should be an almost metaphysical communication between the rocks and the successful explorationist in which the rocks talk to the explorationist. If he turns part of this job of geological mapping over to a high-tech gadget, he may look good to uniformed management, but he is less likely to find a mine.
6. It is important to have a good understanding of the target he is looking for, including understanding some mining engineering, metallurgy, mine finance, and mineral economics. He is not looking for a scientific curiosity; he is looking for a mass of rock which can be made into a mine. I believe my mining engineering and mine production work has been very important in my exploration success.
7. Mineral exploration, like investing new blockbuster drugs, has a very low probability of success. Only one out of three hundred to fine hundred attractive targets become a mine. You have to accept the fact that you usually be wrong. I'd guess that only one out of thirty well-trained exploration geologists ever actually find a mine. However, if an explorer has found one mine, statistically he is likely find others.
8. Finding mines is a high-risk business. In addtion to the geological risk are the political risk, the metal price risk, the mine financing risk and the timid, incompetent management risk. Success is the summation of a list of well-evaluated risks.
9. My last facto, which you don't find in training manuals or classroom or mining articles, is the freedom to plan you own exploration project without interference of the company rules or tradition or interference by supervisors who are as good as prospector as you. ..."

[Popeye82]

[Popeye82]

Nepal cuts deal with China, ending India's gas monopoly - SH/TCP, KATHMANDU- Oct 29, 2015
www.stockhouse.com/news/newswire/2015/10/29/nepal-cuts-deal-…

"Fuel-starved Nepal has signed an agreement with China to provide gasoline, diesel and cooking gas, after India restricted its supplies as a result of ongoing political protests in the Himalayan nation, officials said Thursday.

A memorandum of understanding was signed with China National United Oil Corporation in Beijing, said Nepal Oil Corporation official Deepak Baral. Details on how much fuel would be sent to Nepal, prices and other arrangements still need to be worked out, he said.


It would be the first time Nepal would be getting fuel from China, effectively ending India's monopoly on the fuel supply.

India has restricted fuel supplies since Madhesi ethnic groups in southern Nepal, with whom it has close cultural ties, began protesting Nepal's new constitution, seeking more rights.

Protesters have blocked a key Nepal-India border point for weeks. Other crossings are free of protesters, but India has refused to allow a normal supply of fuel to Nepal.

Earlier this week, China also announced it would give Nepal 1.3 million litres (340,000 gallons) of gasoline to help ease severe shortages.

The gasoline will be brought to a town near the China-Nepal border. It will take about 100 tanker trucks to transport it to the capital, where it was likely to arrive by early next week.

China and Nepal share a border that has the world's highest mountains, but its two crossings were damaged by an April earthquake and one reopened this month. "

[Popeye82]

Mining’s global value slips below US$1 trillion, continued weak commodity prices +shrinking demand have taken its toll on mining, as the market value for listed miners slips <US$1,000,000,000,000

www.australianmining.com.au/news/mining-s-global-value-slips…

"Continued weak commodity prices and shrinking demand have taken its toll on mining, as the market value for listed miners slips below US$1 trillion.

This dip is the first time the market value of mining’s listed companies has fallen below this level since April 2009, according to SNL Financials Industry Monitor.


New research released by SNL show that the aggregate market capitalisation for the 2684 listed companies tracked in its database at the end of September was only US$934 billion, compared to US$1.03 trillion for the end of August.

This is close to a 10 per cent month-on-month drop.

The development of the industry over the space of the last 12 months paints an even more dire picture.

“The industry's valuation on the world's stock exchanges has fallen over 43 per cent since the middle of last year, and is now only 39 per cent of the US$2.415 trillion valuation achieved in April 2011,” SNL stated in its report.

“On this basis, the industry is worth considerably less than Apple Inc. (US$650 billion) and Google (Alphabet Inc.; US$440 billion). The low point remains November 2008, when the market capitalisation of the then 2390 listed companies was US$656 billion.”

A large chunk of this devaluation comes from the smaller end of the market, with the top 100 largest miners tending to hold their value.

“In periods of greatest turmoil the largest 100 mining companies tend to hold their value better than the remainder of the industry, and so account for a greater percentage of the total valuation,” SNL explained.

These companies are now valued at just under US$800 billion, falling below the US$1 trillion mark at the end of July.

These companies’ share of the industry's aggregate valuation was 85.6% at the end of last month, compared with a low of 84.3% in February 2011 and a high of 93.8% in November 2008.

This elite group’s share of the total market capitalization has stabilized at 86-87% for most of the past three years.

Despite this overall devaluation, exploration and development activity has increased, rising in the September period.

However the overall gloom remains, with a 50 per cent drop in the number of financings by companies with annual revenue of less than US$500 million.

There were only 12 such financings of over US$2 million last month, compared with 24 in August and 36 in June, SNL stated.

This represented the lowest number of financings by exploration companies since at least January 2012; however, the US$171 million raised in September (70 per cent by Canadian companies) was 15 per cent higher than the month before, although still only a third of the US$513 million raised in June. "

[Popeye82]

Will "This Little-Known Energy Sector Solve Coal’s Problems?"
http://piercepoints.com/coal-to-liquids-energy-investment-ex…

"Investment opportunities are created by solving people’s problems. And a major energy development this week could solve one of the biggest issues going in the commodities sector.

That’s happening in Botswana. Where developers unveiled one of the largest projects ever seen in an obscure but growing segment of the energy industry.

Coal-to-liquids.


Project backers in Botswana said they will go ahead with a massive investment in coal-to-liquids operations. Projecting a total budget of $4.2 billion for a coal-to-liquids plant capable of producing 20,000 barrels of petroleum fuel per day — along with a subsidiary facility to produce by-product fertilizer.

And things now appear to moving fast with the project. With developers Coal Petroleum (a private Botswana company) and South Africa investment firm Kumvest saying that construction will begin during 2016.

At the proposed scale of the project, this will be one of the largest coal-to-liquids projects being advanced outside of China (a nation that’s undergoing a major push for such technology). And if it is successful, it will have some notable impacts.

First, it will be a huge boost for Botswana’s energy sector. Which right now relies 100% on imports of liquid fuels to meet the country’s demand of 7.5 million barrels per year.

It also provides a way to monetize Botswana’s massive — but stranded — coal reserves. Which have gone largely undeveloped because of the lack of transport infrastructure to major regional sales points in southern Africa.

And if all of that is successful, it could offer a solution to problems the entire coal industry is facing right now.

That’s because coal use is falling in key markets like Europe. With power generators switching en masse to sources like renewables and liquefied natural gas. Leaving a lot of coal deposits stranded due to economic rather than geographic reasons.

If coal-to-liquids technology can gain momentum and profile through megaprojects like the one in Botswana, it could become an option for re-developing the flagging coal sector globally. Watch to see how this critical benchmark project proceeds.

Here’s to solving with solvents,

Screen Shot 2015-10-13 at 8.54.15 PM




Dave Forest "

[Popeye82]

sollte man für Kupfer langfristig im Kopf haben

These "Comments Show China's Aggressive Plan, To Control Copper"

http://piercepoints.com/copper-mining-exploration-investment…

"A few offhand comments last week may show a massive new plan underway in global copper investment. One that could see major consumer China take the metals world by surprise.

Reuters reports that high-level Chinese officials gave some strong hints of such a move at an industry conference last week in the southwestern city of Nanning. Saying that Chinese companies may use a recent geo-strategic initiative as a device to control copper concentrate supply.


The development in question is China’s new “Silk Road” investment initiative. A policy I’ve previously discussed in relation to the gold market, but which now looks set to impact base metals as well.

Under the Silk Road plan, China is building stronger economic links with nations along the ancient trade route — spanning 60 countries from the Stans through to Iran, Turkey and Serbia. And that creates a major opportunity in copper, according to speakers at last week’s Nanning conference.

China’s state metals research firm Antaike kicked off the theme. With senior analyst Yang Changhua telling conference attendees that many Silk Road nations produce substantial amounts of copper ore — but few possess large-scale copper smelters.

Changhua pointed to this a major opportunity for Chinese metals companies. Suggesting that Chinese firms should preferentially buy copper concentrates from these countries for processing at facilities in China.

He also noted that Chinese firms should cement their influence in Silk Road copper nations by building smelters in these countries. A sentiment that was later echoed at the conference by the head of copper for China Nonferrous Metals Industry Association, Duan Shaofu — who said at least one Chinese metals firm is looking at constructing a copper smelter in Kazakhstan in “support of Beijing’s strategy”.

Those last words suggest a concerted effort is underway to control copper supply in this important producing region. An important note for both buyers and sellers in the copper market.

Here’s to exploring the road,




Dave Forest "

[Popeye82]

Peru's Garcia makes mining key pillar of his presidential campaign, the former president says lack of immediate benefits for communities has driven mining opposition causing the country to lose billions worth of gold +copper projects

www.mining.com/perus-garcia-makes-mining-key-pillar-of-his-p…

"Peru's former president Alan García has kicked off his campaign for a third term with a promise to deliver economic growth of at least 6% a year mainly by attracting more mining investment.

The 66-year-old long-time leader of the centre-left American Popular Revolutionary Party, said he planned to achieve such goals by reducing red tape to a minimum, while working with local governments to re-start a long list of stalled mining projects.

He also vowed to significantly reduce poverty to less than 10% by 2021, from last year's 23%, if he won a new term in the elections scheduled for April. “We will then be at the same level than developed countries,” he said according to local newspaper El Comercio (in Spanish).

García last governed Peru from 2006 to 2011, when prices for the key minerals mined in the country, such as copper, gold and silver, were skyrocketing and the nation’s was able to reach annual economic growth rate of 9%. But his administration also saw Peru become the world’s No. 1 cocaine exporter.

the sociologist and politician said Peru is, undoubtedly, “a mining country” and, as such, it should work on easing opposition to projects, especially those in poor Andean regions.

In an earlier interview with El Comercio, the sociologist and politician said Peru is, undoubtedly, “a mining country” and, as such, it should work on easing opposition to projects, especially those in poor Andean regions.

García is proposing to do so by transferring royalties from mining projects directly to nearby communities.

Mining opposition has stalled $21.5 billion worth of mining projects in recent years, disrupting major projects such as Southern Copper’s (NYSE, LON: SCCO) $1.4 billion Tia Maria copper mine and Newmont Mining Corp's (NYSE:NEM), (TSX:NMC) proposed $5 billion Conga copper and gold mine.

García promised to build trains to transport minerals from operations, mostly located in the Andes Mountains, to ports on the Pacific coast, and said he would quickly formalize small-scale gold miners.


- Illegal miners clash with police during a 2014 protest against a law criminalizing their activities (Photo from archives). -


Peru’s current administration began such process in 2012, before making informal mining a criminalized activity. But despite the efforts, illegal gold production in the South American nation has increased fivefold in the last six years and it is estimated to provide 100,000 direct jobs in the country, 40% of which are in the gold-rich Madre de Dios region. At one point, experts calculated the activity was bringing more profit into the country than drug trafficking.

Peru’s Supervisory of Banking, Insurance and Pensions (SBS) recently disclosed it has reported to police and investigators over 3,000 suspicious transactions worth $8 billion among financial institutions since 2010. The financial regulator attributed 44% of that to illegal mining, 31% to drug trafficking and 7% to corruption, with the rest stemming from contraband to tax evasion, according to Peru Reports.

Peru is the world’s No. 3 copper, silver, zinc and tin producer and it is seventh-ranked in gold output. Mining makes up about 60% of the nation’s export earnings.


-EY’s Peru’s mining & metals investment guide 2015/2016. - "

[Popeye82]

http://piercepoints.com/energy-investment-exploration-russia…

[Popeye82]

Antwort auf Beitrag Nr.: 50.972.637 von Popeye82 am 30.10.15 18:49:21

zu kupfer langfristig sollte man sich
auch
mal durchlesen


www.mining.com/these-10-mines-will-set-the-copper-price-for-…

[Popeye82]

Antwort auf Beitrag Nr.: 51.019.377 von Popeye82 am 06.11.15 01:23:08

This "Nation Is Reviving Some Of The World’s Biggest Copper Deposits"

http://piercepoints.com/mining-investment-exploration-copper…

"There’s a lot of investment money today looking to buy big copper deposits. And events late last week suggest such investors may have some major new targets soon.

In the Philippines. A place with world-leading copper deposits — which has been isolated from the mining world in recent years because of difficult politics.

That looks set to change though. With government officials revealing they are about to issue a landmark decision on one of the country’s biggest development projects.


Reuters reported that the country’s Mines and Geosciences Bureau is close to issuing a “notice to proceed” for the King-King copper-gold project, on the country’s southern island of Mindanao. With officials from the Bureau telling an industry conference on Friday that the decision should be issued by “mid-November”.

An approval for the King-King project would be a major development for the Philippines mining industry. Because it would represent the first new mine permitted in the country since 2012.

Since that time, King-King and a host of other deposits have been locked up in political wrangling between states and the central government. Bringing new mine development to a standstill.

Last week’s announcement suggests that some of those issues may now be solved. And that could unlock some very attractive assets across the country.

King-King itself is a massive ore body. Hosting 1.15 billion tonnes of mineralization, grading 0.25% copper and 0.32 g/t gold. The project is advanced-stage, having already seen drill definition and a preliminary feasibility study.

The progress here could also be good news for other major Philippines projects like the Tampakan copper-gold deposit. Which holds a world-leading 2.9 billion tonnes of mineralization at 0.51% copper and 0.2 g/t gold — but has also gone undeveloped due to permitting issues.

Interestingly, the co-owner of the Tampakan project — Australia’s Indophil Resources — was taken over in January through a $360 million buyout from Philippines investment firms Alsons Prime. Perhaps showing that local insiders sensed a thaw in mine permitting coming.

All of which suggests this a place to look for big deposits and exploration projects. Watch for further permitting details here — and more incoming mining investments — to confirm the trend.

Here’s to buried treasures,




Dave Forest "

[Popeye82]

Legislation introduced by US senators requires mining companies to pay royalties, US Senators have introduced legislation to amend the country's 1872 mining law, requiring companies to pay fees to create a clean-up fund for inactive mines

www.mining-technology.com/news/newslegislation-introduced-by…

"US Senators have introduced legislation to amend the country's 1872 mining law, requiring companies to pay fees to create a clean-up fund for inactive mines.

The Hardrock Mining and Reclamation Act of 2015, S. 2254, introduced by senators Tom Udall, Martin Heinrich, Michael Bennet, Ron Wyden and Edward Markey, will ensure mining companies pay royalties for extracting mineral resources from public lands.

Many of the abandoned mines are continuously leaking toxic chemicals into rivers and streams and the new bill helps to make sure that taxpayers are not burdened with cleaning up these sites.


The mines also have the potential for disasters such as the recent blowout of the Gold King Mine near Silverton, Colorado in August that spilled three million gallons of toxic wastewater into the Animas and San Juan rivers.

Communities in New Mexico and Colorado are still struggling to recover from the impact.

Under the current mining law, companies can extract gold, silver, copper, uranium and other minerals from public land and not have to pay any royalties.

Tom Udall said: "Hardrock mining companies have enjoyed a sweetheart deal for nearly 150 years, leaving taxpayers on the hook to clean up hundreds of thousands of abandoned mines leaking toxins and threatening communities across the west.

"Gold and silver on public lands are a natural resource, just like oil and gas. Taxpayers deserve their fair share of the profit, and communities across the west need that money to clean up abandoned mines."

The legislation ensures that mining companies, which did not pay any royalties for the natural resource on the public lands till now, will now contribute to the effort to clean up abandoned sites.

Michael Bennet said: "Three months ago, the Gold King Mine spill provided a sudden and devastating reminder of the dangers that abandoned mines pose in Colorado and across the west.

"More than 200 mines in Colorado are leaking acid mine drainage that is polluting headwaters and affecting water quality for communities downstream. Our bill will help clean up these mines and prevent the possibility of future tragedies like the Gold King Mine."

The Hardrock Mining and Reclamation Act of 2015 will set a 2% to 5% royalty rate for new mining operations and allow states and tribes to receive funding for reclamation programme.

Image: Entrance to Gold King Mine. Photo: courtesy of EPA. "

[Popeye82]

Mining for Cosmetics
www.geologyforinvestors.com/mining-cosmetics-mineralogy-anci…

[Popeye82]

www.mining.com/vale-saves-2-6-billion-on-giant-expansion/?ut…

[Popeye82]

www.mining.com/obama-ends-seven-year-saga-rejects-transcanad…

[Popeye82]

Antwort auf Beitrag Nr.: 51.030.921 von Popeye82 am 07.11.15 13:55:18

[Popeye82]

Dismal German factory data drops copper price, Copper price drops 3% to near 2009-levels after manufacturing orders from world's top machinery exporter plummets

www.mining.com/german-factory-orders-shocker-drops-copper-pr…

[Popeye82]

http://www.u308.biz/

[Popeye82]

2,75 reasons
http://piercepoints.com/mining-investment-exploration-gold-i…

[Popeye82]

www.mining.com/worlds-biggest-online-diamond-retailer-to-ope…

[Popeye82]

http://oilprice.com/Finance/investing-and-trading-reports/Tw…

[Popeye82]

[Popeye82]

Nazi 'gold train' treasure hunters to scan site, of alleged finding

www.mining.com/nazi-gold-train-treasure-hunters-to-scan-site…

[Popeye82]

Poland MAY STOP PRODUCING COAL UNTIL @LEAST 2018; the new government is considering to stop production at several of its mines until @least 2018, in an effort to help prices by reducing a global oversupply

www.mining.com/poland-may-stop-producing-coal-until-at-least…

[Popeye82]

http://piercepoints.com/energy-investment-exploration-japan-…

[Popeye82]

http://piercepoints.com/energy-investment-exploration-offsho…

[Popeye82]

Copper price drops to six-and-&-half year low, "Costs of production have been relentlessly driven lower +are NOT providing a floor to prices. People don’t really know where the floor is”

www.mining.com/copper-price-drops-to-six-and-a-half-year-low…

[Popeye82]

Barrick Gold sells four US mines, for $720,000,000; the move would help the miner meet its ambitious target, for reducing its $13,000,000,000 debt by $3,000,000,000 before year-end

www.barrick.com/investors/news/news-details/2015/Barrick-Ann…
www.mining.com/barrick-gold-sells-four-us-mines-for-720-mill…

[Popeye82]

Gas to reach demand parity with coal +oil in 2040, the latest World Energy Outlook has projected a 40 per cent increase in natural gas production, by 2040

www.australianmining.com.au/news/gas-to-reach-demand-parity-…
------> www.worldenergyoutlook.org/weo2015/

[Popeye82]

This is 'Hillary Clinton's $30,000,000,000 plan, to save coal miners', while the US Democratic presidential candidate doesn’t believe in coal mining, she plans to invest in job training +education, infrastructure +healthcare, +projects to turn abandoned mines into new real estate

www.mining.com/this-is-hillary-clinton-30bn-plan-to-save-coa…

"US Democratic presidential candidate and former Secretary of State Hillary Clinton doesn’t believe in coal mining, but is willing to spend $30 billion on a plan aimed at revitalizing communities dependent on production of the fossil fuel.

The program, revealed Thursday, is part of Clinton’s broader agenda on clean energy. So no, it does not support the mining of the resource, but it does intend to help coal miners, a unionized group, as they will be the most affected by any closings of coal-fired power plants, given the new Environmental Protection Agency’s (EPA) regulations put in place by the Obama administration.


“Today we are in the midst of a global energy transition,” the Plan For Revitalizing Coal Communities says, citing the rise of natural gas and renewable energy. “We can’t ignore the impact this transition is already having on mining communities, or the threat it poses to the healthcare and retirement security of coalfield workers and their families.”

she would use federal money to generate economic development through building infrastructure, expanding broadband access and giving tax breaks for new investment in communities hit by a decline in coal production

Clinton said she would use federal money to generate economic development through building infrastructure, expanding broadband access and giving tax breaks for new investment in communities hit by a decline in coal production, such as many towns in Appalachia, the Illinois Basin, and the Western coal areas.

“Building a 21st century clean energy economy in the United States will create new jobs and industries, deliver important health benefits, and reduce carbon pollution,” according to the campaign’s fact sheet.

The text also says that Clinton would fight coal companies that she says use bankruptcy proceedings to shirk health-care and pension commitments to retirees and overhaul the troubled black-lung benefit program so it properly awards benefits due.


Public enemy No.1

Republicans were quick to fire back, calling her “the public enemy No.1 for coal miners and their communities,” as she supports the EPA agenda aimed to reduce the role of coal-fired power, which is crippling their way of life.

"If Hillary Clinton were truly on the side of coal country, she would stand up to extreme anti-energy environmentalists that run the Democrat Party instead of embracing their agenda that is killing jobs and driving up costs," Republican National Committee spokesman Michael Short said in a statement.

Three major coal miners filed for bankruptcy protection this year: Patriot Coal, Alpha Natural Resources and Walter Energy. And this week, Arch Coal said it was talking to creditors about restructuring its balance sheet.

Eight years ago, Clinton ran as a champion of coal, beating then-Illinois Sen. Barack Obama in the Ohio and Pennsylvania primaries.

The coal industry, particularly in the U.S., has struggled to keep pace with the natural gas boom and gradually affordable renewable energy sources.

Currently, coal accounts for one-third of the country’s power generation and domestic consumption has dropped by 25% in the past 10 years. What’s more worrisome, according to latest estimates renewable energy is on track to surpass coal as the largest source of electricity generation by 2030. "

[Popeye82]

Second largest ever diamond recovered

www.australianmining.com.au/news/second-largest-ever-diamond…

[SommerSonneSandMeer]

Nach dem Abverkauf in den letzten Tagen und Wochen bei den Industriemetallen läuft heute (zumindest beim ZInk) so etwas wie eine Eindeckungsrally. Mal sehen, ob das auf die anderen. überverkauften Rohstoffe wie Nickel und Kupfer abfärbt, oder ob es nur ein kurzes Strohfeuer in einem (ansonsten) intakten Bärenmarkt ist. Die Chancen auf einen Turnaround steigen, denn irgendwann ist mal die Schmerzgrenze erreicht und auf Dauer kann sich kaum ein Produzent solch niedrige Preise leisten.

[Popeye82]

Antwort auf Beitrag Nr.: 51.083.163 von Popeye82 am 13.11.15 16:09:56

www.mining.com/newmonts-indonesian-exports-to-restart/?utm_s…

[Popeye82]

Antwort auf Beitrag Nr.: 51.059.574 von Popeye82 am 11.11.15 09:39:33

Global coal imports heading for second year of ‘dramatic’ drops

www.mining.com/global-coal-imports-heading-for-second-year-o…
www.eia.gov/todayinenergy/detail.cfm?id=23852

[Popeye82]

Antwort auf Beitrag Nr.: 50.931.696 von Popeye82 am 26.10.15 08:43:07

India monetizes 14 ounces of gold, Indian households sit on 20,000 tonnes and the Modi government's two-week old scheme to bring gold into the financial system looks like a spectacular flop

www.mining.com/india-monetizes-14-ounces-of-gold/?utm_source…
http://in.reuters.com/article/2015/11/19/india-gold-idINKCN0…

[Popeye82]

Antwort auf Beitrag Nr.: 51.145.395 von Popeye82 am 21.11.15 14:00:44

CEO of Murray Energy: Coal industry conditions the worst I've seen in my 58 years, Competition from cheap natural gas +heavier environmental regulation of mines +power plants have created the poorest U.S. coal market conditions in @LEAST 58 years, he said; “The industry is bankrupt… Our coal markets are being destroyed”
www.snl.com/InteractiveX/Article.aspx?cdid=A-34581321-13360&…

[Popeye82]

Samarco tailings pollution reaches Brazillian coast, toxic mud from the Samarco dam burst in Brazil HAS REACHED THE ATLANTIC OCEAN, AMID CLAIMS THIS IS THE WORST ENVIRONMENTAL DISASTER SEEN IN THE COUNTRY

www.australianmining.com.au/news/samarco-tailings-pollution-…
www.australianmining.com.au/news/2013-study-warned-of-samarc…

"Toxic mud from the Samarco dam burst in Brazil has reached the Atlantic Ocean, amid claims this is the worst environmental disaster seen in the country.

The mining waste has travelled approximately 500 kilometres over two weeks to reach the sea, where Samarco has set up nine kilometres to attempt to protect flora and fauna from the mud.

The Doce Basin and Doce River have been severely polluted by processing tailings from the Samarco iron ore mine, leaving 280,000 people without water and smothering all aquatic life.


Brazil's environment minister Izabella Teixeira described the event as the worst environmental disaster in the country's history.

"Our current environmental laws are insufficient to deal with an accident of this magnitude,” she said.

Samarco Mineração has faced more than $400 million in damages, fines and frozen funds, however Deutsche Bank says the cleanup could cost more than $1 billion, with years before the site could reopen.

Brazillian president Dilma Rousseff said the government holds Samarco, Vale and BHP responsible for the catastrophe

The Samarco joint venture is presently facing a lawsuit for the disaster, with $3.69 billion claimed as compensation for environmental damages.

The suit has been lodged by lawyer Pedro Eduardo Pinheiro Silva, representing a community association in another state downriver.

BHP CEO Andrew MacKenzie apologised for the disaster at a press conference in Brazil.

Both Vale and BHP have blamed Samarco for the disaster, saying it is a separate corporate entity with its own independent management team.

In 2013 a study by a team from University Federal de Minas Gerais pointed out the connections between mining and the tailings dam as an environmental hazard.

With the evolution of saturation because of the natural flow of surface water from rain, the area above the equilibrium level would be saturated,” the study said.

“Depending on the break radius in the process, there may be several collapses at different levels of slopes and create of flow-on material with large barren mass moving downstream toward the dam body of Fundao and its surroundings.” "

[Popeye82]

A " "Majority" Of Miners Are Now Bust In This Top Copper Nation"

http://piercepoints.com/mining-investment-copper-chile-price…

"The copper market got a serious warning late last week. From a leading insider in the planet’s largest producing nation for the red metal.

That’s Chile mining industry group Consejo Regional Minero de Coquimbo (Corminco). A regional association that includes some of the country’s biggest mineral companies, especially in the copper space — including Antofagasta, Glencore and Teck.


In an interview with local press, Corminco’s president Juan Carlos Saez said that copper prices have now fallen to the point where a “majority” of his group’s members are unable to make a profit.

“We hope this is already the lowest level,” said Saez. “Because it’s below the limit of exploitation for the majority of miners in the country.”

That’s a serious appraisal. Especially in the world’s number one copper-producing nation, responsible for 31% of global output in 2014.

We have started to see some production cuts in the Chile copper sector recently. But Cominco’s president Saez said things could get much worse over the coming weeks.

Because of the end of government aid to the sector.

Since September, Chile’s state mining corporation Enami has been subsidizing copper producers. By paying above-market prices to purchase copper products from miners.

In total, these subsidies have boosted the effective copper price across Chile to $2.30 per pound. Well above current international prices, which stand at approximately $2.10.

That buying program however, is scheduled to finish at the end of December. Local press in Chile have suggested that the government is studying what to do following the expiration of the program — and there’s no certainty the subsidies will be continued.

Saez told the papers that further subsidies are “tremendously important not to lose more jobs”. He added that, for the copper sector, “the only way to continue is to have the credit in 2016”.

Some of this is undoubtedly posturing to get the best deal for miners. But if the credit is indeed discontinued, the financial hit to Chile’s copper industry is going to significant, with prices falling 20% overnight.

That’s a critical event every mining investor should be watching over the new few weeks.

Here’s to giving credit where credit is due,




Dave Forest "

[IllePille]

But if the credit is indeed discontinued, the financial hit to Chile’s copper industry is going to significant, with prices falling 20% overnight.


das verstehe ich nicht. Wieso soll der Kupferpreis 20% verlieren, wenn diese Zahlungen eingestellt würden? Folgt man der übrigen Argumenation des Textes, hätte dies doch die Schließung einiger (vieler?) Minen zur Folge, was negative Auswirkungen auf die Angebotsseite hätte und letztlich sogar zu einem wieder steigenden Kupferpreis führen könnte (Stichwort: Angebotsverknappung)

[Popeye82]

Antwort auf Beitrag Nr.: 51.156.864 von IllePille am 23.11.15 19:04:27

hallo,

so wie ich es verstehe:

3zeilen darüber spricht er ja von "effective copper price(across Chile)"
würde die subvention wegfallen würde den sie Erhaltenden-was scheinbar Viele im Land sind- schlagartig so einiges -ungefähr diese 20%- wegfallen
die sicher noch überproportional wichtig(er) sind, je näher am break even

also man kann denke ich sagen "würde der Kupferpreis für Sie-die Betroffenen, Firmen-" 20% verlieren

[Popeye82]

$3,500,000,000 Saskatchewan potash mine put on hold, low potash prices have made the prospect of developing the Kronau potash mine in Saskatchewan uneconomic



www.mining.com/3-5b-saskatchewan-potash-mine-put-on-hold/?ut…
http://leaderpost.com/business/mining/on-again-off-again-val…
www.vale.com/canada/en/business/mining/fertilizers/vale-fert…

[Popeye82]

Gold drops to five year low, negative sentiment has seen Dec delivery gold futures drop one per cent on Mon night, to trade @a new five year low

www.australianmining.com.au/news/gold-drops-to-five-year-low…

[Popeye82]

Antwort auf Beitrag Nr.: 51.156.864 von IllePille am 23.11.15 19:04:27

nach nochmaligem lesen,
muss denke ich so heissen

"also man kann denke ich sagen "würde der Kupferpreis für Sie-die Betroffenen, Firmen-" knapp 10% verlieren"

ich weiss nicht wie sie auf 20% kommen

[IllePille]

Antwort auf Beitrag Nr.: 51.164.964 von Popeye82 am 24.11.15 16:16:09

wegen der 20%-Angabe habe ich das auf den Kupferpreis allgemein bezogen, da dieser "credit" ja im Bereich von 9% liegt (2,10<-->2,30). Aber vielleicht meinte der Autor auch "prices falling 20 cents overnight".

P.S. int. Thread. Keep on going

[Popeye82]

The "World's Newest Mining Code: Opportunity, Or Major Risk?"

http://piercepoints.com/mining-investment-exploration-madaga…

"When a nation develops a new mining code, it's usually a good thing -- today, new and more progressive regimes are in the works in several parts of Africa, like Nigeria, which could spur exploration and development.

But one part of that continent looks like it will be first in releasing a new code. And the news may not be all good.


That's the eastern African island of Madagascar. Which said this week that it is weeks away from unveiling new mining rules to the industry and investment communities.

As reported by Reuters, Madagascar's president Hery Rajaonarimampianina (yes, his real name) said that the mining code will be passed by the government "this year or at least at the beginning of next year".

Rajaonarimampianina said the country is currently debating the "finer points" of the code -- but his comments suggest we could see the framework released within the next several weeks.

So the question is: what will the new rules say?

The president gave little indication on the changes that might be coming. Simply saying that the new code "will be an improvement across all aspects" of the existing one.

That claim looks somewhat dubious however. Given reports this past September that suggested the government may move to take a 10% carried interest in existing mining projects -- and raise royalties in the industry.

Those concerns make the upcoming announcement of the new code a key development for projects like the Ambatovy nickel mine operated by Sherritt, Sumitomo, and Korea Resources Corp. As well as Rio Tinto's Port Dauphin titanium mine in the south of the country.

The new regulations will also be critical for the future of Madagascar's exploration industry. The country has great potential -- and next to no modern work carried out. But anti-mining rules could kill any activity here, especially given the currently-depressed state of global mining investment.

Watch the next few weeks for an announcement of final terms, to see if the country is headed for opportunity or oblivion.

Here's to making the right choice,



Dave Forest "

[Popeye82]

U.S. Strikes Deal to Block Coal Plants, Worldwide; the United States cut a deal yesterday with wealthy countries to curb public financing for coal plants, an agreement the White House called a "major step forward" ahead of U.N. climate change negotiations in Paris this month, Public financing of the polluting power plants will be curbed

www.scientificamerican.com/article/u-s-strikes-deal-to-block…

"The United States cut a deal yesterday with wealthy countries to curb public financing for coal plants, an agreement the White House called a “major step forward” ahead of U.N. climate change negotiations in Paris this month.

The deal agreed to by members of the Organisation for Economic Co-operation and Development (OECD) marks the first time a large number of nations have set common standards for coal subsidies. The White House estimated yesterday that about 80 percent of coal technology in the current export credit agency pipeline would become ineligible for financing because of the agreement.


“This is a landmark agreement that is the culmination of a long process,” a senior Obama administration official said.

The agreement, obtained by ClimateWire, comes just two weeks before leaders from nearly 200 countries meet in Paris to negotiate a new global climate change accord. Coal restrictions won’t be part of that deal, but many do hope it will set a long-term goal defining how countries will meet a previously stated goal of keeping temperature rise below 2 degrees Celsius.

Environmental activists applauded the agreement but said they were disappointed by changes from an earlier proposal that they argue weakened it.

Made at the behest of Australia and South Korea—which for months fought against any restrictions whatsoever—the final version allows financing for somewhat more efficient coal technology known as supercritical to countries with an electrification rate of less than 90 percent. That, according to International Energy Agency data, includes almost every country in Africa and most of Asia, including coal-hungry India, Indonesia, the Philippines and Pakistan.

“I would describe it as a signal that coal is not welcome in a climate-safe future. But I do think that it’s been severely weakened by Australia and South Korea,” said Alex Doukas, a senior campaigner with Oil Change International.

He and others also noted that the agreement goes into effect in 2017 and won’t be revised for four years, something they called worrisome.

“Already the proposal has no restrictions on ultra-supercritical [technology],” said Michael Westphal of the World Resources Institute. “Having no restriction on ultra-supercritical until 2021 seems like a very long time. Technology moves quickly, and that seems like a generation time for technology.”


‘Last nail in the coffin’

Coal advocates, meanwhile, also expressed disappointment. Benjamin Sporton, CEO of the World Coal Association, said in a statement that high-efficiency coal technology “has a vital role to play” in cutting emissions while delivering energy access, and countries that choose coal must be able to access lower-carbon options.

“Export credits are a key mechanism to ensure that [efficient] technologies are utilized rather than cheaper but higher-emission coal plants,” he said.

“Restrictive funding policy that prohibits support for [efficiency] technology, such as ending export credits for coal-fired power generation, will directly impact economic development and undermines the OECD’s commitment to the proposed Sustainable Development Goals,” Sporton added, referring to anti-poverty targets set by the United Nations.

The Obama administration two years ago set new guidelines to end most overseas coal financing through the Export-Import Bank of the United States and the Overseas Private Investment Corp. Since then, the United States has pushed the issue with dozens of countries and brought the issue before the OECD.

The United Kingdom, France, the Netherlands and several Nordic countries as well as the World Bank have since enacted similar restrictions, most of which allow coal financing only for the world’s poorest nations. Some also allow funding for wealthier nations like India but demand that carbon capture and storage or ultra-supercritical technology be used.

Other major coal exporters, like Japan, resisted, often arguing that China would fill whatever void was left by other countries pulling out of coal. But in September, the United States closed off some of that argument when China, too, agreed to “work towards strictly controlling public investment” of high-carbon projects at home and abroad.

The United States then struck a “finely balanced compromise” with Japan that “sort of unlocked the final stages of this agreement in the OECD,” the administration official said. That compromise, first reported by ClimateWire, ran into stiff opposition from Australia and South Korea (ClimateWire, Oct. 27).

The White House argued yesterday that the exemptions extracted by those two countries in order to cut a final deal were merely “tweaks.” An administration official said the small and medium-sized supercritical coal plants—under 500 megawatts—for which middle-income countries will be allowed financing are “extremely rare” and allowing financing for those does not change the stringency of the restrictions.

Westphal called the overall deal “another nail in the coffin” for coal.

“If it wasn’t for the actions of Korea and Australia, we would have had a much stronger agreement, but it is important to note that it is a significant moment,” he said.

Reprinted from Climatewire with permission from Environment & Energy Publishing, LLC. www.eenews.net, 202-628-6500 "

[Popeye82]

Antwort auf Beitrag Nr.: 51.057.846 von Popeye82 am 11.11.15 03:44:54

Iron ore hits six year low, has reached its lowest point since SteelIndex began keeping records

www.australianmining.com.au/news/iron-ore-reaches-record-low…

"Iron ore has reached its lowest point since SteelIndex began keeping records.

The Chinese port of Tianjin saw a slip overnight, with the spot price falling 1.8 per cent to $43.40 per tonne, the lowest SteelIndex point since November 2008.

Oncoming and increasing supply from the Pilbara has helped precipitate this drop.


Just yesterday iron ore bears were predicting the metal’s downward spiral to continue below US$40 per tonne.

Independent analyst Andy Xie believes the commodity will slip below US$40 per tonne, and will trade just above US$30 per tonne next year, The former Asia-Pacific head economist at Morgan Stanley previously pointed to the steel industry reaching a crisis point, adding they needed to cut production to drive demand.

Xie had also forecast the US$40 lows reached earlier this week, when the price was still in the US$60 sphere.

Goldman Sachs has also predicted continuing weakness for iron ore over the next two years, in line with its current decline.

"We expect prices to decline... to $44/dmt [CFR China] next year and $40/dmt in 2017," Goldman analysts said in a note last week.

"We have been forecasting weak commodity returns since last fall, although the extent of this weakness has far exceeded our initial expectations.”

It pointed to ongoing oversupply, and expects “divergence between production capacity and demand to continue".

New Macquarie Bank analysis is forecasting continued pained from Chinese steel mills as they attempt to curb losses and mitigate lower steel prices. "

[Popeye82]

Antwort auf Beitrag Nr.: 51.145.671 von Popeye82 am 21.11.15 14:57:04

Slump Markets in Asia: Coal Trade Declines for the First Time in 21 Years

- Graph does not include small balancing volume used to reconcile discrepancies between reported exports and imports. With the exception of North America, non-seaborne coal trade, which accounts for about 10% of total world coal trade, is not shown in the graph. -


- Other regions include Eurasia, the Middle East, and Africa, but Europe makes up the majority of trade. Graph does not include small balancing volumes used to reconcile discrepancies between reported exports and imports. With the exception of North America, non-seaborne coal trade, which accounts for about 10% of total world coal trade, is not shown in the graph -
www.process-worldwide.com/business-and-economics/articles/51…

[Popeye82]

Antwort auf Beitrag Nr.: 51.125.088 von Popeye82 am 19.11.15 05:31:53

Sixth largest diamond ever discovered, Lucara has hit the jackpot, again, uncovering an 813 carat diamond, only days after their 1111 carat discovery

www.australianmining.com.au/news/sixth-largest-diamond-ever-…

[Popeye82]

Antwort auf Beitrag Nr.: 51.186.621 von Popeye82 am 27.11.15 04:43:25

www.australianmining.com.au/news/how-much-is-the-1111-carat-…

[Popeye82]

Antwort auf Beitrag Nr.: 51.165.246 von IllePille am 24.11.15 16:35:31

Du hattest glaube ich -in eine anderen Forum, glaube ich- einen Artikel eingestellt "VALE sagt Schlamm ist nicht toxisch"
habe den aber nicht mehr gefunden

wenn das so war,
dann das dazu -die UN sagt der Dammbruch hat hohe Konzentrationen freigesetzt
www.mining-technology.com/news/newsmud-released-samarcos-tai…

[Popeye82]

wer zu uran -(auch)aus der expleations/entwicklerperspektive- etwas das Verständnis fördern will
ohne promotion dieser firma


www.mining.com/web/camecos-former-chief-mine-engineer-on-why…

[IllePille]

Antwort auf Beitrag Nr.: 51.194.859 von Popeye82 am 28.11.15 02:20:00

nö, zu Vale habe ich schon länger nichts mehr gepostet

[Schneider123]

Hallo Leute,

ich bin neu hier und hab mal die 3 letzten Seiten kurz überflogen.
Meine persönliche Meinung zu Rohstoffen (Gold, sämtliche Grundmetalle, Öl aber KEINE Agrarstoffe) allgemein.

Ich denke wir werden in den nächsten 6 bis 9 Monate die Talsohle durchschritten haben bei max. dowdrown von im Schnitt ca. 20 % von den jetzigen Kursen.
Demgegenüber stehen Chancen von weit über 100% Rendite auf sich von 3 - 5 Jahren.
Im Moment gibt es meiner Meinung nach mittelfristig (langfristig sowieso) kein Sektor der ein besseres Chance/Risiko Verhältnis hat.

Mit einem breit diversifizierten Portfolio oder Fonds kann man fast nicht verkehrt machen. Ich werde die nächsten 9 Monate schrittweise ein Portfolio aufbauen.

Rohstoffe werden immer gebraucht und sind durch nichts zu ersetzen. Alle gehen langfristig tendenziell in der Verfügbarkeit nach unten. Sollte die Inflation steigen (und sie wird langfristig steigen) steigen auch die Rohstoffe. Den US Doller sollte man auch berücksichtigen. Fundamental betrachtet wird er (langfristig gesehen) von dem jetzigen Stand eher fallen als steigen. Auch das wird die Rohstoffpreise treiben. An der Börse gibt es ja den Spruch the trend is your friend. Das haben wir ja gesehen in den letzen Jahren bei den Rohstoffen. Es kommt die Zeit da wird der Trend sich drehen und dann zu einer längeren Hausse ansetzen wie wir sie schon mal hatten. Es wurde in den letzten ca. 2 Jahren massiv geshortet in dem Bereich. Vor allem Goldman Sachs und BlackRock wetten und redeten die ganze Branche nach unten. Einige Jahre davor war es genau das Gegenteil. Ein Schelm wer böses denkt. Bald werden sie den Bereich nach oben reden ;-)
Wie sagte mal Marc Mobius ...kaufen wenn Blut auf der Straße liegt. Die Rohstoffwerte sind eindeutig überverkauft. Klar gab es ab einigen Stellen Überkapazitäten. Das hat es immer wieder schon gegeben aber hatte nie diesen Abschlag wie jetzt.

Ich würde es einem Laien so erklären:

Glaubst du das Gold einmal soviel kostet wie ein Stück Blech also fast nichts wert ist.
Glaubst du das Kupfer, Zink, Eisen....usw. nie mehr gebraucht werden und daher nichts mehr kosten werden.
Glaubst du das Rohöl bald nichts mehr kostet und du für paar Cent dein Auto tanken kannst.

P.S: Ich bin seit 17 Jahren an der Börse tätig und habe da schon einiges erlebt. Wenn mich in meinem privaten Umfeld jemand frägt, wie er Geld anlegen soll (auf Sicht von 3-6 Jahren), ist meine Antwort zur Zeit Rohstoffe. Auf Sicht von 6 Jahren halte ich es für fast ausgeschlossen von heutigen Kursen aus gesehen eine negative Rendite einzufahren.

Gruß

[Popeye82]

China to slash copper output, by 5%, Copper producers in China are taking drastic measures to arrest the plummeting price

www.mining.com/china-to-slash-copper-output-by-5/?utm_source…
www.reuters.com/article/2015/11/28/china-copper-output-cuts-…

[Popeye82]

Antwort auf Beitrag Nr.: 51.164.232 von Popeye82 am 24.11.15 15:21:28

Gold down to lowest since 2010

www.mining.com/gold-down-to-lowest-since-2010/?utm_source=di…

[Popeye82]

Antwort auf Beitrag Nr.: 51.209.214 von Popeye82 am 01.12.15 00:32:34

Hedge funds have never bet this much on a falling gold price, Large scale speculators in gold futures enter unprecedented bearish positioning, ahead of first rate hike in nine years

www.mining.com/hedge-funds-have-never-bet-this-much-on-a-fal…

[Popeye82]

Antwort auf Beitrag Nr.: 51.209.205 von Popeye82 am 01.12.15 00:30:07

BHP Billiton to slash copper production costs, increase output; the miner expects to lower production costs to $1,08 per pound during the '17 financial year, from a projected $1,21 per pound in the year ending Jun '16

www.mining.com/bhp-billiton-to-slash-copper-production-costs…

[Popeye82]

www.mining.com/gina-rineharts-roy-hill-iron-ore-mine-readies…
www.royhill.com.au/wp-content/uploads/2015/12/Roy-Hill-Celeb…

[Popeye82]

Oil drops below $40 per barrel, pulling TSX into big losses - SH/TCP, TORONTO - Dec 2, 2015

www.stockhouse.com/news/newswire/2015/12/02/oil-drops-below-…

"Oil prices plunged below the US$40-a-barrel level on Wednesday, pulling the Toronto stock market to a steep, triple-digit loss after two days of stellar advances.

The S&P/TSX composite index ended the day down 172.24 points at 13,463.82, after having soared almost 268 points over the first two trading days of the week.

The heavily weighted energy sector was the biggest loser, down 3.47 per cent as the January contract for benchmark crude oil fell $1.91 to end trading at US$39.94 a barrel.


Gareth Watson, director of the Investment Management Group at Richardson GMP, said the importance of commodity-related stocks to the Canadian market has come down over the last year as prices have slid.

But outside investors are still wary of Canadian-listed companies because of the perception that the country's economy performance is tied to commodities and are sensitive to the relative gains in the recovering American economy.

“Canada is not a go-to market at this stage, and it probably won't be for a while,” he said.

The last time crude oil futures settled below $40 was Aug. 26, near the end of a period of volatility marked by chaos in Chinese markets and a six-day slide in New York exchanges that was the longest in more than three years.

Earlier today, the U.S. Energy Information Administration said American commercial crude oil inventories rose by 1.2 million barrels in the week ended Nov. 27.

“U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years,” the agency said in a release.

Natural gas also lost value on the day, shedding 6.6 cents to settle at US$2.165 per mmBtu

The run on commodities also bit in New York. The Dow Jones average of 30 stocks closed down 158.67 points to 17,729.68, while the broader S&P 500 fell 23.12 points to 2,079.51. The Nasdaq gave back 33.08 points to 5,123.22, despite a boost from a more than five per cent surge in Yahoo (Nasdaq:YHOO, Forum) shares.

Yahoo's stock closed up $1.95 to US$35.65 amid reports the company is considering selling its core Internet businesses after having struggled for years to re-energize its business model.

The February gold contract dropped $9.70 to US$1,053.80 an ounce.

The Canadian dollar ended the day up 0.08 of a cent to 74.91 cents U.S. after the Bank of Canada announced it was keeping its key overnight lending rate steady at 0.5 per cent.

The loonie has fallen more than 13 per cent against the American greenback over the past year.

Markets generally believe that unless U.S. employment figures for November scheduled for release on Friday prove to be extraordinarily weak, the U.S. Federal Reserve will raise interest rates from record lows near zero for the first time since the financial crisis. "

[Popeye82]

www.mining-technology.com/news/newsdonlin-gold-project-alask…

[Popeye82]

Antwort auf Beitrag Nr.: 51.207.441 von Schneider123 am 30.11.15 19:11:11

an Schneider,
hallo,

möchte sagen ich halte die gesagten sachen nicht alle für falsch,
ABER die gesamtgezogene schlussfolgerung für mich -"most likely", wenn man will -nicht richtig


ergo
wenn du das für richtig hältst und darauf bauen willst musst du das wissen,
ich schliesse mich der gesamtgezogenen SCHLUSSfolgerung ausdrücklich nicht an

Gruss

[Popeye82]

www.mining-technology.com/news/newsvales-capital-expenditure…

[Popeye82]

Antwort auf Beitrag Nr.: 51.220.824 von Popeye82 am 02.12.15 11:12:45

The iron ore price is in free-fall, following a heavy selloff in Nov, iron ore is down another 7%, just this week, with no support in sight

www.mining.com/the-iron-ore-price-is-in-free-fall/?utm_sourc…

[Popeye82]

INFOGRAPHIC: The "race for Arctic domination", Russia, Canada, Norway, Denmark +the United States are posturing, for Arctic supremacy

www.mining.com/web/infographic-the-race-for-arctic-dominatio…

[Popeye82]

die meldung hier auch nochmal rein

World’s two biggest miners WALKING AWAY FROM COAL, but they are NOT telling, BHP Billiton +Rio Tinto have significantly cut their investments in coal, while repositioning behind the scenes

www.mining.com/worlds-two-biggest-miners-walking-away-from-c…

"BHP Billiton (ASX:BHP) (LON:BLT) and Rio Tinto (LON, ASX:RIO), the world’s largest and second biggest mining companies respectively, have been steadily cutting their exposure to thermal coal over the past two years, but without making any big announcements about it.

Pushed by slack demand, prices at multiyear lows, and relentless opposition to new coal projects, the companies are seeking to reduce their investments in coal used for power stations.

But according to analysts interviewed by the Australian Financial Review, they want to do so without making too much noise about it, as they don’t want to jeopardize the sale of some of their coal mines by signalling they think poorly of the commodity.

"Rio and BHP are still out there flying the flag for coal, but I think they are repositioning behind the scenes," Pengana Global Resources Fund analyst Tim Schroeders told the paper.

In fact, the companies have managed to keep a neutral stance by singing coal’s praises when asked about it. A couple of weeks ago, Jean-Sebastien Jacques, Rio Tinto’s chief executive for copper and coal, told a Bloomberg conference in Sydney that coal demand was not going to disappear. But he added later the company had “better options” than to spend money on the commodity.

There is a future for coal. Now the question is, should it be Rio or not Rio” that owns the mines, Jacques told the audience. “If you have a big checkbook, I’m more than happy to take your name.”

“There is a future for coal. Now the question is, should it be Rio or not Rio” that owns the mines, Jacques told the audience. “If you have a big checkbook, I’m more than happy to take your name.”

Coal assets from North America to Australia have been up for sale by the world’s biggest miners, which are seeking to protect profits from sharply lower commodity prices. Producers have also been a frequent a target for environmental campaigners, who have stepped up campaigns for a moratorium on coal mines and for investors to sell their shares in fossil fuel companies.

Last month, 52 leading scientists, economists and experts from around the world published an open letter calling for a moratorium on new mines ahead of the climate change talks in being held in Paris this week.


This is how they've done it

So far, Rio Tinto seems to be leading the coal exiting game. In February, the company folded its coal operations into its copper division, a step that was widely seen as signalling a reduced focus on the fossil fuel.

Later in the year, it announced the sale of a 40% stake in its Australian Bengalla mine as part of a divestment aimed at ditching coal operations in New South Wales, which could be worth between $3bn and $4bn. When revealing the sale, Rio also said it had restructured one of its main Australian coal businesses —Coal & Allied—, where Mitsubishi Development of Japan previously held a 20% stake, and it is now solely owned by the Anglo-Australian miner.


- Last year Rio sold its Mozambique coal assets to India’s International Coal Venture Private Ltd (ICVL), marking the end of a dreadful venture for the miner. (Image courtesy of Rio Tinto) -


Rio has also unloaded Mongolian coal miner South Gobi Resources and the unsuccessful Riversdale project in Mozambique.

BHP Billiton has done its part too. While it has kept some major assets such as Mt Arthur mine in the Hunter Valley, Cerrejón Coal in Colombia, and a group of metallurgical coal assets in Queensland, the firm sold its thermal coal business in South Africa after spinning-off assets into a separate company, South32.

The firm has also said it may reconsider its push into coal mining in Borneo, depending on the what comes out of the Indonesian government ongoing review of the sector’s regulations.

The coal business doesn’t look nearly as promising as it did two years ago, when miners were looking for mines to buy hoping to meet China’s demand, the world’s top coal consumer. But with economic growth weakening many power generators shifting to gas or renewable energy, global coal shipments are falling for the first time in 21 years, the U.S. Energy Information Administration said last month.


- CRU Group is predicting a fall in coal-fired power generation in Europe through to 2020. (Chart courtesy CRU) -


Meanwhile, The International Energy Agency (IEA) predicts global coal demand will increase just 0.4% a year to 2040, a marked slowdown from the 4.1% annual growth of the past decade and well behind the expansion of sectors such as renewables, which it forecasts will overtake coal as the largest source of power generation by the early 2030s.

"

[Popeye82]

Antwort auf Beitrag Nr.: 51.237.933 von Popeye82 am 03.12.15 23:45:07

China’s steel giants lost $11,000,000,000 in 1st 10 months of '15, that is >double the profits reaped in '14

www.mining.com/chinas-steel-giants-lost-11-billion-in-first-…

[Popeye82]

www.mining.com/canadian-arctic-readies-for-worlds-largest-di…

[Popeye82]

http://piercepoints.com/mining-investment-exploration-lithiu…

[Popeye82]

The 'Saudis want everyone to go bust'

http://masterinvestor.co.uk/latest/the-saudis-want-everyone-…

"It would seem that the Saudis want everyone to go bust in their attempt to tear down the shale oil revolution, only to push oil prices back up again in future. But do they still have control of this market? Judging by the persistent weakness observed in the market, it seems that everything is falling apart, including Saudi Arabia.

Oil prices just hit a low not seen since the peak of the financial crisis (in February of 2009). If the trend remains in place, the market will soon settle at 2004-2005 prices. On one hand, this is exactly what the Saudis want, in order to regain their market share and push other producers out of the market; on the other hand, given that the worst of the recession is behind us and that a price near $50-$60 would already be below the marginal costs faced in many oil exploring areas, one could question whether such low prices are just the result of OPEC’s output decisions or whether they hide other developments. Saudi Arabia’s task has been easier than first thought due to a mix of international developments. Unlike what happened in 2009, when oil prices were boosted by a declining US dollar driven by the FED’s massive asset purchases, this time there’s no QE and the interest rate is on the verge of being hiked. Anticipation of this event alone has been driving the dollar higher, which has had a negative impact on commodities prices in general, and of course on oil in particular ..."

[Popeye82]

http://piercepoints.com/mining-investment-exploration-copper…

[Popeye82]

www.mining.com/web/infographic-visualizing-chinese-investmen…

[Popeye82]

Antwort auf Beitrag Nr.: 51.220.824 von Popeye82 am 02.12.15 11:12:45

Iron ore shipment starts, from $10,000,000,000 Roy Hill project in Australia; Hancock Prospecting +Roy Hill have started shipping iron ore, from the $10bn Roy Hill Project, in the Chichester Range in the Pilbara region of Western Australia

www.mining-technology.com/news/newsiron-ore-shipment-starts-…

"Hancock Prospecting and Roy Hill have started shipping iron ore from the $10bn Roy Hill Project in the Chichester Range in the Pilbara region of Western Australia.

The shipment started from Port Hedland on the Mv Anangel Explorer tanker to Posco's steel mills in South Korea.

Hancock and Roy Hill chairman Gina Rinehart said: "Given that the mega Roy Hill Project was a largely greenfield project that carried with it significant risks and considerable cost, it is remarkable that a relatively small company such as Hancock Prospecting has been able to take on and complete a project of this sheer size and complexity."

"The Roy Hill Project has recorded many achievements already and with the first shipment it will also hold one of the fastest construction start-ups of any major greenfield resource project in Australia."
"With the first shipment, it will hold one of the fastest construction start-ups of any major greenfield resource project in Australia."

Following the initial shipment, Roy Hill and its owners will change their focus on a rapid ramp-up of production to the project's design capacity.

Hancock executive director Tad Watroba said: "The initial shipments, such as this one today from Roy Hill, will only represent a small portion of its capacity of 55Mtpa and their assessments don't take into account that over 50% of Roy Hill's output will be taken by the minority investment partners who are outside of China.

"With more than 90% of Roy Hill's production secured under long-term contracts, very little ore will actually enter the spot iron ore market."

Hancock Prospecting owns a majority stake in the Roy Hill project with a 70% interest.

The remaining 30% stake is held by a consortia comprising Posco (12.5%), Marubeni (15%), and China Steel (2.5%). "

[Popeye82]

www.mining.com/worlds-first-seafloor-miner-inks-copper-sales…

[Popeye82]

Antwort auf Beitrag Nr.: 51.059.292 von Popeye82 am 11.11.15 09:22:49

Nazi gold train rumours to be determined true, or not, in ‘matter of days’, Experts from Krakow University of Science +Technology are almost ready, to release their findings
www.mining.com/wp-content/uploads/2015/12/150x125xnazi-gold-…
www.mining.com/nazi-gold-train-rumours-to-be-determined-true…

"
- This is the now famous image taken by Piotr Koper and Andreas Liechter, who claim they know the whereabouts of a Nazi gold train. (Image by Gazeta Wroclawska newspaper via Twitter) -


The search for a long-lost Nazi train, carrying what is believed to be billions of dollars in gold, may be over before Christmas, as Polish mining experts are in the final stages of analyzing data from the site where two men allege to have located the wagons.

According to Krakow University of Science and Technology spokesman, Bartosz Dembinski, the group of experts from the institution are close to conclude whether there is a train at the spot identified by two amateur treasure hunters in August.

The scientists used magnetic, gravitation and earth-penetrating equipment to check the railway bank in Walbrzych, southwestern Poland, and should be ready to release their findings in mid-December, said earlier this week.

German Andreas Richter and Polish Piotr Koper have already produced a rudimentary image of the train using ground-penetrating radar.

Local officials have suggested that because of the annual winter snowfall in Poland, digging may not start until the spring.
Nazi gold train rumours to be determined true or not in ‘matter of days’

Radar image posted on Ritcher and Koper’s website that allegedly shows the train. © 2015 XYZ Spółka Cywilna Piotr Koper & Andreas Richter | Logowanie.

According to tales that have circulated since WWII, the Nazis hid a train containing up to 300 tons of gold, as well as diamonds and firearms.

The Polish government has done little to dampen speculation, as authorities said in September they were “99% certain” the train actually exists.

A number of trains are believed to have been used by the Nazis in the 1940s to transport goods stolen from people in Eastern Europe back to Berlin. While some might have made it to the German capital, others are said to have been left behind by Soviet troops, as they advanced in 1945.

Police officers continue to patrol the wooded, shrub-covered site to keep swarms of treasure hunters from digging. "

[Popeye82]

Gold price: Physical-backed ETFs become one-way bet, SPDR Gold Shares(GLD), world's largest gold-backed ETF, has seen no inflows for 36 days straight, as investors pull out 62 tonnes in seven weeks

www.mining.com/gold-price-physical-backed-etfs-become-one-wa…

[Popeye82]

www.mining.com/web/840559/?utm_source=digest-en-mining-15121…

[Popeye82]

Antwort auf Beitrag Nr.: 51.294.357 von Popeye82 am 12.12.15 23:32:17

[Popeye82]

Antwort auf Beitrag Nr.: 51.294.387 von Popeye82 am 12.12.15 23:44:10

[Popeye82]

Anglo American to cut 85,000(!!!) jobs, due to commodity crash; Anglo American has announced plans to cut 85,000 jobs over the next few years, due to the crash in commodity prices hitting company profits
www.mining-technology.com/news/newsanglo-american-to-cut-850…

"Anglo American has announced plans to cut 85,000 jobs over the next few years due to the crash in commodity prices hitting company profits.

The company plans to transfer some of the jobs through asset sales, as well as internal cuts.


Anglo American chief executive Mark Cutifani said: "Together with the additional material capital, cost saving and productivity measures announced today, we are setting out an accelerated and more aggressive strategic restructuring of the portfolio to focus it around our 'Priority 1' assets, being those assets that are best placed to deliver free cash-flow through the cycle and that constitute the core long-term value proposition of Anglo American.

"As we redefine our operational footprint, we are aligning our organisation to ensure optimal efficiency and effectiveness.

"As a next step and as we determine the future portfolio, we will be consolidating our six business unit structures into three, De Beers, Industrial Metals and Bulk Commodities, providing further opportunity to reduce the cost burden on our business."

The company has also targeted $3.7bn of cost and productivity improvements from 2013 to 2017, while capex will be reduced by a further $1bn by the end of 2016.

For 2017, the company is reducing capex to $2.5bn, which represents a 55% reduction versus its 2014 expenditure.

Anglo American also expects impairment charges of $3.7bn-$4.7bn, largely due to weaker prices and asset closures.

By the end of 2017, the company expects to achieve $3.7bn in efficiency improvements.

The company will also progress the sale process for the phosphates and niobium businesses during 2016. "

[Popeye82]

http://piercepoints.com/energy-investment-exploration-colomb…

[Popeye82]

wer bei china an den weissen ritter denkt,
der sollte hier mal gut die augen spitzen!!





Does 'This Emergency Move Mean Trouble In China's Mining Sector'?
http://piercepoints.com/mining-investment-china-government-d…

"Very interesting reports emerging from China's mining sector late last week. Suggesting that the industry is struggling with some major issues, and needs serious help in moving forward.

The biggest problem is debt. With sources suggesting that the country is about to take unprecedented action in dealing with money owed by some of the biggest national mining firms.

Bloomberg quoted people familiar with the matter as saying this will take the form of a state-owned fund to absorb bad mining debt. Including debts owed by some of the highest-profile Chinese companies working overseas.


Sources said the new fund will be established by the State-Owned Assets Supervision and Administration Commission. And will aim to take on existing debt from across the mining industry.

Familiar persons singled out China's largest metals trader, Minmetals, as one of the companies likely to see debt taken off its books. With the mega-firm currently owing about $9.3 billion to debt holders.

That's a point that should be of interest for the mining investment community around the world. Given that Minmetals' 74%-owned subsidiary MMG is an important player in international projects in Australia, Canada, Peru and Laos.

All the more so because China's creation of the debt fund suggests the government here sees miners being stretched right now in terms of finances. (Not surprising, given the recent fall in metals prices -- and the aggressive investments in new projects made by Chinese companies the last several years.)

The hope is the fund will head off serious problems with these firms, ensuring that operations can continue without major interruption.

If the plan goes smooth, we may not see much fallout on the local or international stage. But this development does suggest investors should be keeping an eye on China-related ventures for any signs of financial strain.

It also makes it likely that many Chinese companies will be more careful in new investments going forward. Potentially meaning less capital coming out of this part of the world for minerals development.

Here's to going off the books,



Dave Forest "

[Popeye82]

Antwort auf Beitrag Nr.: 51.155.505 von Popeye82 am 23.11.15 16:55:15

www.mining.com/codelco-eyes-600-million-in-savings-more-job-…
www.economiaynegocios.cl/noticias/noticias.asp?id=210166

[Popeye82]

Antwort auf Beitrag Nr.: 50.906.703 von Popeye82 am 22.10.15 13:24:06

Diamond miners likely to cut prices further in 2016 to lift demand —Moody's, the rating +research agency expects producers to have to deepen cut prices, as supply +demand challenges continue into the new year

www.mining.com/diamond-miners-likely-to-cut-prices-further-i…

[Popeye82]

www.reuters.com/article/austria-gold-idUSL8N1401VQ20151211

[Popeye82]

Gold falls to six year low, Gold has finally reacted to the US rate rise, slipping over the last two days

www.australianmining.com.au/news/gold-falls-to-six-year-low?…

[Popeye82]

Antwort auf Beitrag Nr.: 51.294.474 von Popeye82 am 13.12.15 01:19:37

www.australianmining.com.au/features/it-is-time-for-radical-…

[Popeye82]

http://piercepoints.com/mining-investment-exploration-lithiu…

[Popeye82]

Antwort auf Beitrag Nr.: 50.972.637 von Popeye82 am 30.10.15 18:49:21

China Just Made Its 1st Big Move On The Silk Road, In Uranium

http://piercepoints.com/mining-investment-exploration-uraniu…

[Popeye82]

Antwort auf Beitrag Nr.: 51.150.558 von Popeye82 am 23.11.15 04:45:06

www.mining.com/iron-ore-pushes-past-40/?utm_source=digest-en…

"Two of the largest mining companies in the world are being held to account by the Brazilian government over a massive tailings dam rupture.

In a ruling issued late Friday, BHP Billiton (NYSE:BHP) and Vale SA (NYSE:VALE), who jointly own Samarco, the company that operated the open-pit iron ore mine, could be held responsible for the November 5 disaster which killed 16 people and caused 60 million cubic metres of mine waste from the site in Brazil’s Minas Gerais state to wash downstream into neighbouring state Espírito Santo through remote mountain valleys, eventually reaching the Atlantic ocean 600 kilometres away.


Toxic materials, including arsenic, and high levels of lead, aluminum, chromium, nickel and cadmium, were found in the waters of the Rio Doce by a United Nations team and the Institute for Water Management of Minas Gerais (IGAM) state. Rio de Janeiro-based Vale and BHP Billiton maintain the waste contains only water, soil, iron-oxide and sand, none of which are harmful.

The Brazilian government isn't buying it, stating on November 27 that it, along with two Brazilian states, are suing Samarco for "an initial" $5.3 billion. Brazil's environmental watchdog earlier levied a 250-million real ($65 million) fine on Samarco.

Vale has tried to deflect responsibility for the huge spill, arguing that as an independent entity and a large company, Samarco should be made to pay compensation.

However the federal judge, Marcelo Aguiar Machado, disagreed. “I understand to be correct the allegation that Vale and BHP, as controllers of Samarco, can be classified as indirect polluters and as such responsible for the environmental damage caused,” he wrote in a 19-page judgment quoted by The Guardian.

The judgment didn't specify the amount of assets that had been blocked, but it could be over half of the $5 billion sought in damages, of which Samarco is unable to pay, according to the news report. Meanwhile Samarco must come up with $2 billion reais (about US$500 million) for cleanup, or face daily fines. BHP and Vale can appeal the decision. "

[Popeye82]

Fanya Metal Exchange founder gone missing

www.mining.com/fanya-metal-exchange-founder-gone-missing/?ut…

[Popeye82]

Antwort auf Beitrag Nr.: 51.306.096 von Popeye82 am 15.12.15 09:29:21

De Beers closing another diamond mine, this time in Botswana, Debswana, a 50/50 joint venture between De Beers +the government of Botswana, is set to close its Damtshaa mine, +scale down production @Orapa

www.mining.com/de-beers-closing-another-diamond-mine-this-ti…
http://southernafrican.news/2015/12/18/debswana-shuts-down-m…

[Popeye82]

Chile’s court decision on whether force Antofagasta knock down Los Pelambres mine dam imminent, Locals claim the dam has diverted the course of a local estuary, causing water shortages @a time of drought

www.mining.com/chiles-court-decision-on-whether-force-antofa…

[Popeye82]

www.u3o8.biz/s/MarketCommentary.asp?ReportID=734562&_Type=Ma…

[Popeye82]

Large Chinese copper smelters eye deeper production cuts: smelter executive

www.reuters.com/article/us-china-copper-idUSKBN0U20722015121…

[Popeye82]

Antwort auf Beitrag Nr.: 51.282.489 von Popeye82 am 10.12.15 20:46:25

Oil prices hit 11-year low, as global supply balloons

www.reuters.com/article/us-global-oil-idUSKBN0U400T20151221

[Popeye82]

http://fissionuranium.mwnewsroom.com/Files/84/8485f1a1-bdfa-…

[Popeye82]

http://piercepoints.com/mining-investment-exploration-gold-g…

[Popeye82]

http://piercepoints.com/mining-energy-investment-lng-russia-…

[Popeye82]

www.mining.com/what-to-expect-for-2016-top-predictions-for-t…

[Popeye82]

www.mining.com/wp-content/uploads/2015/07/300x250xcoal-pit-c…

[Popeye82]

Antwort auf Beitrag Nr.: 51.155.505 von Popeye82 am 23.11.15 16:55:15

seine folgerungen teile ich nicht soganz

These "1st-Ever Numbers Show An Unexpected Lift, For Copper"

http://piercepoints.com/mining-investment-copper-chile-cash-…

"The government of world-leading copper nation Chile did something this week it’s never done before.

Published data on copper production costs for nearly its entire mining industry.


The government was quoted in local press Monday announcing the first-ever report from its newly-formed “Observatorio de Costos” or costs observatory on copper mining.

Mining minister Aurora Williams noted that the observatory gathers data on production costs for 19 mining operations across Chile, representing 91% of the country’s total copper output — and makes cost data for these major operations public for the first time ever.


So what did the numbers show?

A surprising cushion of profitability.

The maiden costs report identified an average cash cost of $1.625 per pound copper produced for Chile’s mining sector during the second quarter of 2015, to June 30. With this amount said to be down from an average $1.655/lb during the same period of 2014.

The government said miners were benefiting from lower fuel and energy costs, which saved 4.9 cents per pound during Q2. Also lower rates for salaries and contractors, which cut 4.6 cents per pound from costs.

Such figures are at odds with reports from Chile’s mining sector last month that the industry is nearly unprofitable at prevailing copper prices. With the government’s numbers suggesting the majority of copper production should still be making money with copper over $2.

The cost figures of course don’t take into account higher-level costs like sustaining and expansion capital for mining operations. But these are the sorts of expenses largely getting reduced or deferred completely across the global mining sector amid the current downturn.

Chile’s government did point out there’s a considerable lag in the data — with the above cost figures being from six months ago. But with crude prices having fallen nearly 40% since the end of June, it’s unlikely mining cash costs have risen substantially to now.

We’ll see what the next report (for Q3 2015) shows. Going forward, this new data set will be a critical one to watch for the global mining investment sector.

Here’s to penny-wise, pound-wise,



Dave Forest "

[Popeye82]

Mining projects worth $56,000,000,000 to come on stream in Peru, beginning '16

- MMG’s gigantic Las Bambas mine is the largest China-backed mining projects scheduled to come on stream in Peru next year. -
www.mining.com/mining-projects-worth-56-billion-to-come-on-s…
www.andina.com.pe/agencia/noticia-empresas-chinas-tienen-ter…

[Popeye82]

- The unusual gem is named after the Korloff -Sapojnikoff family, members of the Russian nobility, who once owned it.

It is said the diamond brought luck to its owners, even after the Korloffs had to leave Russia following the 1917 Revolution. -
www.mining.com/the-worlds-largest-black-diamond-can-now-be-s…

[Popeye82]

www.theguardian.com/world/2015/dec/27/sudan-gold-rush-artisa…

[Popeye82]

@the end of December:

- coal is down 32 per cent from its price at the end of last year;
- iron ore, -24 per cent;
- palladium, -30 per cent;
- copper, -25 per cent;
- zinc, -30 per cent;
- aluminum, -19 per cent. ...
www.mining.com/web/commodity-price-slump-undercuts-mining-se…
www.cbc.ca/news/business/commodities-mining-2015-1.3375310

[Popeye82]

www.mining.com/bc-mining-companies-may-get-help-paying-for-e…

[Popeye82]

www.mining.com/web/trucking-companies-report-shortage-of-dri…

[Popeye82]

Antwort auf Beitrag Nr.: 51.383.970 von Popeye82 am 30.12.15 06:30:55

http://piercepoints.com/mining-investment-exploration-peru-e…

[Popeye82]

Gold on track to record 3rd-straight annual loss, with prices down roughly 10%, the precious metal is on track to record its 3rd-straight annual loss, the 1st time it has posted a triple-loss streak, since 1998

www.mining.com/gold-on-track-to-record-third-straight-annual…

[Popeye82]

Antwort auf Beitrag Nr.: 51.059.574 von Popeye82 am 11.11.15 09:39:33

China WON’T APPROVE NEW COAL MINES, UNTIL '19, the decision, part of a series tough measures, seeks to cut both -oversupply +a worsening pollution crisis in the country

www.mining.com/china-wont-approve-new-coal-mines-until-2019/…
http://news.xinhuanet.com/english/2015-12/30/c_134962530.htm

"China, the world’s largest coal consumer, has decided to halt new coal mines approval for the next three years while it continues cutting output at existing operations, in a new effort to shrink both oversupply and a worsening pollution crisis.

As part of the tough rules implemented by the national energy regulator, Beijing will shut more than 1,000 coal mines next year, taking out 60 million metric tons of unneeded capacity, state-run agency Xinhua News reported.


China's chronic air pollution generally gets worse in winter, when power consumption —much of it fuelled by coal — rises along with demand for heating. Earlier this month, capital Beijing issued its first-ever red alert for pollution. Poisonous air quality prompted the government to close schools, force motorists off the road and shut down factories for more than 72 hours.

The government has also readjusted its targeted energy mix for 2016. Under the new blueprint, non-fossil fuels will make up 13.2% of the country's energy, an increase from 12% this year. The ratio of natural gas will also increase to 6.2% from 6% while coal usage will be reduced to 62.6% from around 64.4% this year.

For the next five years, the Chinese government also aims to add over 20 million kilowatts of installed wind power and more than 15 million kilowatts of installed photovoltaic power. "

[Popeye82]

Myanmar

Was Rohstoffnationen angeht muss man dieses Land m.Ermessennach auf der Rechnung haben.


http://piercepoints.com/mining-investment-exploration-myanma…

[Popeye82]

$10,000,000,000,000 investment needed, to avoid massive oil price spike, says OPEC, OPEC says that $10 trillion worth of investment will need to flow into oil +gas, through '40, in order to meet the world’s energy needs

www.mining.com/web/10-trillion-investment-needed-to-avoid-ma…
www.opec.org/opec_web/static_files_project/media/downloads/p…

[Popeye82]

http://www.smh.com.au/business/energy/australian-uranium-in-…

[Popeye82]

New elements discovered, four new elements have been discovered, +added to the periodic table

www.australianmining.com.au/news/new-elements-discovered?mid…
www.theguardian.com/science/2016/jan/04/periodic-tables-seve…

"Four new elements have been discovered and added to the periodic table.

Elements 113, 115, 117, and 118 were discovered, completing the seventh row of the table, according to The Guardian.


They were manufactured by colliding light nuclei particles into one another and tracking the swiftly decaying elements, which have only limited stability and lifespan.

It follows on from the discovery of elements 114 and 116 in 2011, and were uncovered in Japan, Russia, and the US.

These new elements were verified just before the turn of the year, by the International Union of Pure and Applied Chemistry.

Elements 115, 117, and 118 were uncovered by a joint US-Russian team, whilst 113 was found by a team of scientists from Japan’s Riken Institute.

The Japanese team found element 113 bybombarding a thin layer of bismuth with zinc ions travelling at about 10 per cent the speed of light, theoretically, seeing them occasionally fusing to form an atom of element 113.

Head of the Riken research team, Kosuke Morita, is now focusing on finding element 119.

"Now that we have conclusively demonstrated the existence of element 113,” Morita said, “we plan to look to the uncharted territory of element 119 and beyond, aiming to examine the chemical properties of the elements in the seventh and eighth rows of the periodic table, and someday to discover the island of stability [where elements with longer half-lives will be found]."

The elements will be named in the coming months, with 113 to be named first.

Until then they have temporarily been given the placeholder names ununtrium, (Uut or element 113), ununpentium (Uup, element 115), ununseptium (Uus, element 117), and ununoctium (Uuo, element 118). "

[Popeye82]

www.mining-technology.com/news/newsmalaysia-ban-bauxite-mini…

[Popeye82]

www.australianmining.com.au/news/australian-mining-technolog…

[Popeye82]

Antwort auf Beitrag Nr.: 51.428.691 von Popeye82 am 06.01.16 21:57:47

www.australianmining.com.au/features/how-the-marriage-of-min…

[Popeye82]

http://piercepoints.com/mining-energy-investment-oman-fund-c…

[Popeye82]

www.bbc.com/news/world-asia-35226276

[Popeye82]

www.mining.com/web/2016-the-year-of-the-stream-gold-silver-a…

[Popeye82]

www.australianmining.com.au/news/india-s-coal-imports-expect…

[Popeye82]

http://piercepoints.com/energy-investment-exploration-argent…

[Popeye82]

http://piercepoints.com/mining-investment-gold-india-consump…

[Popeye82]

Nyrstar to exit mining

www.australianmining.com.au/news/nyrstar-to-exit-mining?mid=…

[Popeye82]

Copper falls to new low, copper has fallen to its lowest point since the global financial crisis, dragging the major miners down as well

www.australianmining.com.au/news/copper-falls-to-new-low-1?m…

[Popeye82]

www.australianmining.com.au/news/arch-coal-declares-bankrupt…
http://phx.corporate-ir.net/phoenix.zhtml?c=107109&p=irol-ne…

[Popeye82]

meine Abschlussprüfung war-beinhaltete- ein Safrangericht
(die Warenanforderung macht dann besonders Spass )

The "world's most expensive materials, by weight", a breakdown of the most expensive materials in the world by weight. Surprisingly, not all are metals

www.australianmining.com.au/features/the-world-s-most-expens…

"In the field of economics, the laws of supply and demand state that the price of a product and its available supply to the market are interconnected. For example, if a good such as crude oil is produced in excess, the price will drop accordingly.

However, sometimes substances are nearly impossible to produce in the first place – and that means that it can be extremely difficult for the market to respond to increases in demand. The world’s most valuable substances generally fall into this category, and this makes their value per gram very high.

White truffles, for instance, only grow for a couple of months of the year almost exclusively from one part of Italy. They must be foraged by special pigs, and they seem to be worth more every year. The price per gram for white truffles is $5, which means that a pound costs close to $2,000.

Despite this, white truffles barely crack the list of the most valuable substances by weight.

Saffron, a spice that is gathered from the flower of the crocus sativus plant, is another notch higher on the spectrum. To get one pound of dry saffron requires the harvest of 50,000 to 75,000 flowers. There’s only 300 tonnes of production each year, and that annual production is worth around $3 billion.

Higher up on the list of the world’s most valuable substances are some familiar metals. Silver does not make the list, as it is only worth around $0.50 per gram. However, many of the platinum group metals (PGMs) do make the list: platinum, palladium, rhodium, and iridium all range between $16 to $27 per gram. Gold also makes the list, and it has traded for more than an ounce of platinum since early 2015. One gram of gold is worth just under $34 per gram.

At the top of the list we find a combination of extremely rare metals, radioactive isotopes, and gemstones.

The radioactive element Californium, first made in 1950, is the most valuable at $27 million per gram. It is one of the few transuranium elements that have practical applications, being used in microscopic amounts for metal detectors and in identifying oil and water layers in oil wells.

Diamonds are near the top of the list as well at $65,000 per gram, though like many other gemstones, the value depends on the specific crystal in question. Many industrial diamonds are relatively cheap, but the rarest and most beautiful stones can be worth millions.

Iranian beluga caviar and Crème de la Mer are the most expensive non-metals or non-gemstones on the list. Iranian caviar is made from the roe of beluga sturgeons found in the Caspian Sea, and it is valued at about $35 per gram. Crème de la Mer was originally created by a physicist for NASA to heal his burns, but it is now sold as a face cream by Estée Lauder for $70 per gram. "

[Popeye82]

www.australianmining.com.au/oil-gas/news/bp-announces-huge-j…

[Popeye82]

schon interessant,
ich wusste bis jetztnichts von diesem "finanzierungsmechanismus"

Chile mulls scrapping copper funding, for military, Codelco chairman, Oscar Landerretche, wants the government to scrap the country’s Copper Law, which forces the firm to give 10% of its annual export revenue to the Armed Forces

www.mining.com/chile-mulls-scrapping-copper-funding-for-coun…
www.eldinamo.cl/nacional/2016/01/06/presidente-de-codelco-ha…

"Codelco, Chile’s state-owned copper miner and the world’s largest producer of the metal, should soon review its investment plans in light of historic low prices, chairman Oscar Landerretche has said.

In an interview with local news site El Dínamo (in Spanish) last week, the economist said the first step should be scrapping the country’s Copper Law, legislation dating back to 1958 that was revisited by former president, dictator Augusto Pinochet. Under that set of rules, Chile’s Armed Forces receive 10% of Codelco’s annual export revenue.


“Having the country’s military needs tied to copper prices makes no sense (…) We must abolish such law and instead give the Armed Forces funding mechanisms fit for the way they work," said Landerretche, who holds a Ph.D. in economics from The Massachusetts Institute of Technology (MIT).

According to official data, in the past 15 years Codelco has injected US$13.4 billion into the country’s Armed Forces coffers.

The army, however, has hardly touched its treasure chest, claims Chile’s Defense & Military blog. “Weapons acquisitions have been modest, while some key programs (such as helicopters for the Air Force and armour for the Marines) continue to be pushed back.”

Two previous governments have tried and failed to eliminate the controversial law, but Michelle Bachelet’s administration is once again working on a reform. This time, rather than eliminating the ruling, the government is trying to make Codelco’s contribution flexible and based on a number of variables, such as the period’s copper prices and the final destination of such funds.

"

[Popeye82]

www.mining-technology.com/news/newscoal-india-prepares-imple…

[Popeye82]

www.mining.com/rio-tinto-freezes-all-pay-for-2016-as-commodi…

[Popeye82]

www.equities.com/news/bad-news-as-oil-sinks-to-29

[Popeye82]

This is what a mining, metals market meltdown looks like; THREE OF THE WORLD'S TOP MINING COMPANIES ARE NOW TRADING >90% BELOW THEIR BOOM YEAR HIGHS, as the '16 commodity sell-off gathers pace

www.mining.com/this-is-what-a-mining-metals-market-meltdown-…

"A feeble attempt at a rally yesterday evaporated on Friday with the copper price hitting a fresh six-and-half year low of $1.9365 a pound ($4,270 a tonne) after falling nearly 2% in New York. Following a 26% decline in 2015, copper is already down 9% this year and worth less than half its peak as commodity investors choose to ignore fundamentals pointing to recovery.

Nickel may be the most disappointing performer in a pretty sorry field. The price fell back again today to exchange hands at $8,395 a tonne, with traders using Thursday's rally to get rid of inventories which have been climbing steadily.


Today's nickel price is in stark contrast with a 1993 to 2015 average of $13,600 a tonne, so it's not just the winding down of the supercycle that can be blamed for the metal's dismal showing. After Indonesia's ore ban in 2014, the stars seemed to align with the metal hitting $20,000 less than two years ago.

But it appears most miners and analysts misread the market as nickel succumbed to unforeseen forces, not least of which its use in China's shadow banking system (a factor also blamed for copper's underperformance). The story is the same across industrial metals with weakness returning to lead, zinc and tin on Friday.

Even zinc, which has had a different trajectory than the rest of the complex due to recent major mine closures has now succumbed to commodity bears. After peaking in November 2006 at $4,580 per tonne, zinc was still trading at multi-year highs around $2,380 as late as May last year. On Friday the metal dropped to a 2009 low of $1,476.

Australian thermal coal prices hit a high in July 2008 within shouting distance of $200 a tonne but is now averaging in the low $50s (still a price which US domestic producers would kill for) with no hopes of a recovery as Chinese imports fall by more than a third year on year and could cease altogether in the short to medium term.

Coking coal's fall has been even more spectacular with prices falling to $75 a tonne in November for premium Australian exports, the lowest in at least a decade and worth less than quarter of its peak.

Iron ore's rise and fall – the commodity most closely associated with the Chinese – actually managed to climb back above $40 a tonne on Friday, but that compares to a peak of $191 a tonne in February 2011 and back to back annual declines of 40% since 2013.

The meltdown in metal prices continue to devastate the stock of mining's majors on Friday.

World number one BHP Billiton (LON:BHP) had another down day in New York as investors react to the news of a $7.2 billion writedown of its US oil and gas business, the biggest hit the company has take during the resources bust. BHP lost 7% in New York to a fresh 12-year low in anticipation of a dividend cut and a plunge in the price of oil to below $30 a barrel.

Year to date shares in the Anglo-Australian giant is already down 20% for a market capitalization of $54 billion. That compares to $270 billion in 2011 when it briefly became the fifth most valuable publicly traded company in the world, ahead of giants like Chevron and Microsoft.

The world's second largest miner based on revenue Rio Tinto (NYSE:RIO) gave up 6.3% in New York affording it a market cap of $43 billion. The Melbourne-HQed firm had a better 2015 than its peers thanks to a more manageable debt load and benefitting from the lowest cost base in iron ore, responsible for the vast majority of its earnings, but year-to-date declines have been a steep 19%.

As an indication of just how severe the downturn has been, Rio is the star performer compared to its peers. The stock has (only) declined 71% from its all-time high in 2011.

Vale (VALE:NYQ) came off relatively lightly on Friday with its American Depositary Receipts trading in New York losing 4.2%, but that was enough to reach a new record low. Vale is down 29% in 2016 following a 66% drop last year. The Rio de Janeiro-based company is the world's number one producer of iron ore and also holds the top spot for nickel output – both steelmaking raw materials are down more than 80% from their respective peaks. The company's market value ascended to just shy of $200 billion in January 2011, ahead of its main rival Rio Tinto, but is now worth $12 billion compared.

Reports of an early refinancing of a huge chunk of its debt and reports that it's close to off-loading a $1 billion Chilean copper mine, did not help Glencore on Friday (LON:GLEN) with the stock giving up 6.5% after an astonishing 108 million shares in the Swiss giant changed hands in London.

The $11 billion company was first floated in May 2011 and two years later the Swiss commodities trader acquired coal giant Xstrata, turning it into the world's fourth largest miner. Down 19% just this year, Glencore is now worth $24 billion less than before the Xstrata takeover.

Anglo-American (LON:AAL, OTCMKTS:AAUKY), the world's fifth largest publicly held mining company in terms of output was once again the worst performer plummeting 11.5% as doubts continue to grow over its ability to emerge from under a crippling debt load.

The company with roots in South Africa going back more than a century announced a radical restructuring program in December that would see it cut some 85,000 jobs over the next few years as it reduces the number of mines it operates from 55 to the low 20s.

Despite its exit from gold mining, Anglo is arguably the most diversified of the majors thanks to its exposure to diamonds (accounting for around 25% of its earnings) through De Beers and its holdings in Anglo American Platinum. But that has not shielded the company from the downturn – the stock now trades an astonishing 93% below its 2008 high when it was worth $67 billion.

Freeport-McMoRan (NYSE:FCX), which vies with Chile's state-owned Codelco as the world's number one copper producer, was the best performer on the day, adding 3.3%, but that was thanks only to bargain hunters trying to a guess a bottom for the stock which is down 36% since January 4. Volumes were simply massive with more than 73 million shares changing hands, making it the second most actively traded stock on the New York Stock Exchange.

The Phoenix-based company, now worth $5 billion versus more than $5o billion during the boom times. Each $5 fall in crude prices deducts $170 million from its operating cash flow, while a $0.10 change in the copper price takes out $350 million. In December it emerged that Freeport may put up its oil and gas assets up for auction early next year to refocus on copper, but no-one expects the company to get anything remotely close to the $20 billion it paid to acquire the US fields just over three years ago.

"

[Popeye82]

da habe ich noch zweifel dran

Have we reached peak gold?, Miners have declared the industry has reached ‘peak gold’, with production likely to only decline in the future

www.australianmining.com.au/news/have-we-reached-peak-gold?m…
www.ft.com/cms/s/d3c226aa-bb9b-11e5-b151-8e15c9a029fb,Author…

"Miners have declared the industry has reached ‘peak gold’, with production likely to only decline in the future.

New research by Thomson Reuters GFMS, published in the Financial Times, stated that production of gold globally will begin its decline, falling three per cent this year alone and capping close to a decade of rising output levels.


Peak gold was predicted to occur last year, as falling prices made as many as 10 per cent of all gold operations uneconomical.

Gold Fields head, Nick Holland explained, “We are all talking about how production was going to increase every year; I think those days are probably gone.”

“You are not going to see massive production increases in the industry.”

Much of the decline is due to major producers such as China, Australia, Russia, and the US failing to fill the enormous gap left by sharply falling production rates out of South Africa.

"2015 will be the peak in world gold production," Grant Thornton’s Brock Mackenzie told Australian Mining in an interview early last year.




“So every year after that there will be less gold produced, which will have a positive effect on the price."

Goldman Sachs research echoed Mackenzie’s prediction, with a dire warning of only 20 years of known mineable reserves of gold left, adding that discoveries of new sources peaked in 1995.

Barrick Gold president, Kevin Dushnisky also had a similar forecast combining a peak gold belief with a more positive future for the metal, stating that “falling grades and production levels, a lack of new discoveries, and extended project development timelines are bullish for the medium and long-term gold price outlook.”




The CEO of Goldcorp has also previously said peak gold will occur soon, stating: “Whether it is this year or next year, I don't think we will ever see the gold production reach these levels again; there are just not that many new mines being found and developed.”

Polymetal CEO Vitaly Nesis was even more negative on future production predicting a supply contraction of between 15 to 20 per cent over the next three to four years.

In the last five years gold has moved from a high of $1900.05 to fall more than 20 per cent to a low of $1053.03.

"

[Popeye82]

www.australianmining.com.au/news/clive-palmer-s-nickel-calls…
www.abc.net.au/news/2016-01-17/palmer-says-pup-donations-mad…

[Popeye82]

Antwort auf Beitrag Nr.: 51.398.964 von Popeye82 am 02.01.16 22:31:48

China to shut down >1000 mines, China has announced it will shut more than 1000 mines, across four provinces in the country’s north +south

www.australianmining.com.au/news/china-to-shut-down-more-tha…

[Popeye82]

http://piercepoints.com/energy-investment-exploration-brazil…

[Popeye82]

Antwort auf Beitrag Nr.: 51.507.588 von Popeye82 am 16.01.16 09:54:13

www.australianmining.com.au/news/blue-chip-mining-stocks-see…

[Popeye82]

30+ U.S. coal projects could be scrapped under moratorium, some of the largest projects are in the Powder River Basin of Wyoming +Montana

www.mining.com/842589-2/?utm_source=digest-en-mining-160117&…

[Popeye82]

BHP takes largest-ever write-down on US shale operation

www.mining.com/bhp-takes-largest-ever-write-down-on-us-shale…
www.bhpbilliton.com/investors/news/onshore-us-asset-review-2

[Popeye82]

De Beers cuts diamond prices, De Beers has cut diamond prices, in an attempt to stem the predicted slowdown in the sector; Data from WWW International Diamond Consultants indicated diamond prices slipped 18 per cent last year, +according to IBISWorld reports, the industry is predicted to experience an annual compound decline of 4 per cent over the five years through 2015-26, to fall to $380,100,000

www.australianmining.com.au/news/de-beers-cuts-diamond-price…

[Popeye82]

North Korea upgrading its rail, to handle more coal, North Korea is reportedly upgrading its coal haulage rail lines, as it plans to increase output; Reports from the DPRK’s foreign news service Uriminzokkri stated that the number of trains has doubled year on year

www.australianmining.com.au/news/north-korea-upgrading-its-r…
www.nknews.org/2016/01/n-korea-says-it-will-upgrade-rail-to-…
www.australianmining.com.au/features/north-korea-mining

[Popeye82]

link2, der report

Apple, Sony, Samsung linked to child labour claims in cobalt mines, Consumer products sold across the globe could contain traces of the metal produced by informal Congolese mines, who employ children as young as seven, says Amnesty International

www.mining.com/apple-sony-samsung-linked-to-child-labour-cla…
www.mining.com/wp-content/uploads/2016/01/this-is-what-we-di…

[Popeye82]

PotashCorp mothballs Picadilly mine, leaves >420 jobless, the indefinite suspension of the Picadilly mine, in Canada's New Brunswick, is expected to cut the company's capital costs by $50,000,000 in '16, +$135,000,000 over the next two years

www.mining.com/potashcorp-mothballs-picadilly-mine-leaves-mo…

[Popeye82]

Grupo Mexico seen bucking copper slump, as analysts recommend buy, Mexico’s biggest copper producer is leveraging its relatively low debt +strong profit margins, to invest >$4,600,000,000 expanding some of its mines

www.mining.com/web/grupo-mexico-seen-bucking-copper-slump-as…

[Popeye82]

"Visualizing the flow of oil around the world"
www.mining.com/web/infographic-visualizing-theflow-of-oil-ar…

[Popeye82]

Citi cuts commodity forecasts, again; the Bloomberg Commodity Index has recorded its worst start to a year, since data began collection, in 1992

www.australianmining.com.au/news/citi-cuts-commodity-forecas…

[Popeye82]

China to close thousands more coal mines, China is reportedly set to close 4300 coal mines over the next three years; the Shanghai Daily reports the government’s decision to close 4300 coal mines overall, slash existing production capacities of 700,000,000 tonnes, +relocate ~1,000,000 workers, ~$6,500,000,000 has been earmarked by the government, to aid in the relocation efforts

www.australianmining.com.au/news/china-to-close-thousands-mo…

[Popeye82]

www.australianmining.com.au/news/another-manganese-operator-…

[Popeye82]

The Periodic Table of commodity returns, this year's Periodic Table of commodity returns highlights what may be on of the worst years on record, with no growth recorded

www.australianmining.com.au/features/the-periodic-table-of-c…


"... Base Metals: The fact that lead was the best performing commodity with -3.5% returns throughout 2015 is not a good sign. However, compared to its fellow base metals such as copper (-26.1%), zinc (-26.5%), aluminum (-17.8%), and nickel (-41.8%), lead did wonderfully in comparison.

Precious Metals: Gold held in there as a relative top-performer with only a -10.4% dip. That said, it’s started off 2016 with a nice rally so far. Silver, platinum, and palladium did worse in 2015, all returning -11.8%, -26.1%, and -29.4% respectively.

Energy: The worst performing commodity of 2014 was the second-worst performing commodity of 2015. Oil was been routed in the last two years, with -45.6% and -30.5% returns respectively. Other fossil fuels have followed, with natural gas (-19.1%) and coal (-10.8%) both losing ground in 2015 as well. ..."

[Popeye82]

Moody's puts 175 energy +mining firms on review, as low prices bite

- The top five mining companies and three of the world’s biggest energy groups are among the hundreds the hundreds of mining and energy firms that Moody's placed on review for a credit downgrade. (Image: Screenshot via TheDollarVigilante | YouTube) -
www.mining.com/moodys-puts-175-energy-and-mining-firms-on-re…

[Popeye82]

Chile losing ground as top copper producer, as metal price in the pits, from 2005 to 2015 Chile's copper output rose a mere 8%, while Peru’s grew 37%, China’s 114%, Zambia’s 72% +Congo’s 956%

www.mining.com/chile-losing-ground-as-top-copper-producer-as…

[Popeye82]

Barrick braces for up to $3,000,000,000 in writedowns

www.mining.com/barrick-braces-for-up-to-3-billion-in-writedo…

[Popeye82]

www.mining.com/web/lme-said-in-talks-with-banks-to-list-gold…

[Popeye82]

www.mining.com/agreement-gives-uranium-mining-in-greenland-a…
www.world-nuclear-news.org/UF-Denmark-and-Greenland-reach-ur…

[Popeye82]

www.mining-technology.com/news/newstata-steel-signs-agreemen…

[Popeye82]

British Columbia extends two tax-credit programmes, for mining firms
www.mining-technology.com/news/newsbritish-columbia-extends-…

"The British Columbia Government has announced plans to extend two tax-credit programmes to help mining companies handle the slump in global commodities prices.

The measures were announced by the British Columbia Premier Christy Clark at the opening of the Association for Mineral Exploration British Columbia's Roundup Conference at the Vancouver Convention Centre.


The government announced extensions of the mining exploration tax credit and the BC mine flow-through share tax credit.
"We know when a mine goes to waste all those mines and all those communities that have been founded on a mine disappear overnight."

In particular, the government plans to extend the provincial government's refundable 20% mining exploration tax credit on qualified exploration expenses, as well as up to 30% in regions affected by the mountain pine beetle infestation.

Clark also announced extension of 20% nonrefundable flow-through tax credit on investment in exploration by shareholders.

Work is currently underway to enable mining firms to defer their power bills amidst low commodity prices, Clark noted.

Clark said: "[We] are working on a plan so that mines can defer some of their very considerable power costs until commodity prices bounce back.

"We know when a mine goes to waste all those mines and all those communities that have been founded on a mine disappear over night." "

[Popeye82]

http://piercepoints.com/mining-investment-exploration-lead-z…

[Popeye82]

Iran goes beyond oil —to sign $5,400,000,000 in mining deals, with Italy, France, Iran is opening $29,000,000,000 of projects to foreign investors, now that sanctions have been lifted

www.mining.com/iran-goes-beyond-oil-to-sign-5-4bn-mining-dea…
www.tasnimnews.com/en/news/2016/01/25/981055/iran-italy-to-s…
www.iran-daily.com/News/118718.html

"Iran’s full-re-entry into the world energy market upon the lifting of sanctions has hurt oil prices further, sending them below the psychologically significant $30-a-barrel level last week.

The question in everyone’s mind now is how Iran's incursion into the mining industry will affect an already struggling sector, hit by a sustained rout in commodity prices.

Investor took renewed interest on the subject Monday, as Iran’s Deputy Industry, Mine and Trade Minister, Mehdi Karbasian, said his country hopes to finalize investment plans worth about $5.4 billion during President Hassan Rouhani visit to Italy, where he arrived Monday, on the first leg of a landmark visit to Europe.

The potential deals, Tasnim News Agency reports, include joint investments in the steel production chain in southern Iran, in an area stretching from Chabahar on the Gulf of Oman to Bandar Abbas and Jask in the Persian Gulf.


Karbasian is also expected to ink a contract with Italian and Chinese firms to carry out the second phase of Salco, Iran’s largest aluminum smelter plant, Trend News Agency reports (subs. required).

The minister said another memorandum of understanding has been worked out with a French company for downstream aluminum projects, which the parties plan to finalize during Rouhani’s visit to Paris.

Italian firms are interested in aluminum and steel projects, while French companies seek also technical cooperation, Karbasian has said in the past.

Japan’s leading steelmakers are also said to be eying Iran’s mining potential, especially its titanium projects.

Tehran is opening $29 billion of mining projects to foreign investors, roughly equal the oil and gas investments up for grabs.

Last year, the mines ministry announced the discovery of two large coal and iron ore deposits in the Lut desert, in central Iran, which is already the number four supplier of iron ore to China.

According to official data, Iran ships some 15–20 million tonnes of iron ore a year, though that figure would have fallen substantially given the slide in the price and the high cost of mining inside the country.

Currently, the nation has more than 3,000 active mines, mostly privately owned, which focus on copper, iron ore and heavy rare earth elements. "

[Popeye82]

Antwort auf Beitrag Nr.: 51.569.448 von Popeye82 am 25.01.16 04:22:51

http://piercepoints.com/mining-energy-investment-downgrade-m…

[Popeye82]

genau diese Frage(not(/ob) a normal one)-inn Bezug auf Rohstoffmarkt, aber auch Anderes- habe ich mir auch schon mehrmals gestellt

Ergebnis nicht eindeutig,
aber ich denke in mindestens weiten Teilen stimmt das

Current mining downturn NOT a ‘normal’ one —Moody’s, the ratings agency expects physical supply/demand imbalance to widen further, leaving miners in extremely weak conditions

www.mining.com/current-mining-downturn-not-a-normal-one-mood…

[Popeye82]

Iron ore price: Seaborne trade is Opec on crack, New warnings about impact of super-concentrated supply of steelmaking raw material

- Valemax carriers are 362m long and 65m wide with 400,000 tonnes dead weight capacity. Image of Berge Everest docking at Vale's Teluk Rubiah distribution centre in Malaysia courtesy of the company. -
www.sgx.com/wps/wcm/connect/sgx_en/home/newsflash/MU-DT-2501…
www.mining.com/iron-ore-price-seaborne-trade-is-opec-on-crac…

"When the pace of China’s urbanization gathered momentum around a dozen years ago, iron ore was still considered a relic of the industrial age.

The seaborne trade was controlled by the Big 3 producers – Brazil’s Vale and Australian giant Rio Tinto and BHP Billiton. The miners negotiated the annual benchmark price during secretive talks with primarily Japanese steelmakers. Annual contracts were signed and the rest of the industry fell in line.


Much has changed since then.


Chinese imports now constitute three-quarters of all cargoes which has ballooned to 1.3 billion tonnes per year making it the second most traded bulk commodity on the planet after crude. Price-setting has moved from annual benchmarks to quarterly contracts to spot pricing and increasingly to derivative markets.


But much has stayed the same.


The Singapore Exchange – the first to launch iron ore price derivatives in April 2009 – in a new research note point to rising supply risks as Brazil and Australia come to completely dominate the seaborne market.

With another Australian miner, Fortescue, joining BHP and Rio at the big table and Vale continuing to aggressively expand in its home base, supply from these countries have been on a relentless upward curve.

Australia upped its exports to China 10.8% last year while Brazilian cargoes increased just over 12%.

Between them these two countries could approach 90% of the seaborne market as soon as next year. For a quick comparison consider that Opec controls around 40% of world oil production and its main member Saudi Arabia represent less than a third of the cartel’s total output.




At the same time Chinese steelmakers have become increasingly reliant on imports as domestic miners struggling with high costs and low grades are pushed out of the market.

Chinese imports hit a record 952.8 million tonnes in 2015 and the country is now reliant on imports for 80% of its needs according to this SGE chart.

Last week the suspension of activities at Vale’s Port of Tubarão – responsible for roughly 8% of global shipments – led to a rally in iron ore prices, which have consequently come down again.

SGE warns strong and relatively undisrupted supply growth from the majors has masked increasing supply-side concentration risk in iron ore:

“As a result, supply disruptions moving forward may hold a greater bearing on supply-demand fundamentals, potentially leading to greater pricing volatility.”

As if it’s not volatile already:

"

[Popeye82]

www.mining.com/germany-brings-more-gold-back-home/?utm_sourc…

[Popeye82]

das papier scheint schon Entscheidungsteilgrundlage von diversen Großkapital zu sein(s. Norges Bank)
die “utility death spiral” -schöne Wortschöpfung- habe ich auf jeden fall schon so einige jahre früher kommen sehen

Australia, Germany, Japan @high environmental risk, due to reliance on coal —report, the global coal industry is being squeezed by competition from cheap gas, declining demand +clean-air regulations, that have raised costs for burning the fossil fuel

www.mining.com/australia-germany-japan-at-high-environmental…

"Water stress, air pollution concerns, new policies, carbon capture and storage challenges, as well as competition from renewables and gas, are some of the main issues coal companies need to address immediately, a new study suggests.

Published Thursday by the University of Oxford's Smith School of Enterprise, the report details the level of exposure to environment-related risks of the world’s main coal companies.


Ben Caldecott, director of the Stranded Assets Programme at the University of Oxford's Smith School of Enterprise and lead author, says the coal industry is exposed to uncertainty over future demand for thermal coal for power stations from countries such as China and India, which are increasingly relying on domestic production and other forms of energy.

The document outlines a comprehensive risk assessment of the main 100 coal-fired utilities, the top 20 thermal coal miners, and the 30 most important coal-to-liquids companies.

The study also identifies the countries more likely to be affected by environmental problems due to their reliance on coal, or by what the experts call the “utility death spiral.”

That phenomenon, explains the report, occurs as solar and wind energy take market share from the centralized electricity grid and fossil fuel coal generators, forcing them to raise distribution charges or close generating capacity.

Australia, Germany and Japan lead the list of major global economies that are at significant risk of a “utility death spiral” due to their current reliance on coal, according to the study:


- Taken from "Stranded Assets and Thermal Coal – An analysis of environment-related risk exposure," January 2016. -

The report was funded by Norges Bank Investment Management, which manages Norway's $1.15 trillion sovereign wealth fund and is reducing its coal exposure along with Allianz, the large German insurance company.

The coal industry had been battered in recent years by competition from cheap gas, declining demand from China and clean-air regulations that have raised costs for burning the fuel.

Concerns about carbon emissions from power stations coupled with a deep global glut in thermal coal production has pushed its spot price to long term lows at around $50 a tonne, resulting in a lengthening line of mine closures and production cuts, particularly in North America and Indonesia. "

[Popeye82]

Antwort auf Beitrag Nr.: 51.597.535 von Popeye82 am 28.01.16 09:14:33

der report

Stranded Assets +Subcritical Coal: The Risk to Companies, +Investors - UoO, SSEE/SARN/SAF, OXFORD - Mar 13, 2015

- Ben Caldecott, Gerard Dericks, James Mitchell -

- We have located subcritical coal-fired power stations globally, a+identified the ones most @risk of stranding, due to their carbon intensity +deleterious effects on local air pollution, +water stress. The research shows which companies own these assets, +ranks companies by exposure. Furthermore, we examine how environment-related risks facing subcritical coal assets might develop, in the future. ...-
www.smithschool.ox.ac.uk/research-programmes/stranded-assets…
www.smithschool.ox.ac.uk/research-programmes/stranded-assets…

[Popeye82]

sehr interessante meldung find ich

Miners urged to renegotiate rail contracts, coal +iron ore miners could continue to cut costs, by squeezing transport contracts for haulage, a new report from Macquarie has observed

www.australianmining.com.au/news/miners-urged-to-renegotiate…

[Popeye82]

http://piercepoints.com/energy-investment-natural-gas-argent…

[Popeye82]

Coal DROPPED from Vietnam’s future energy plans, Prime Minister's decision wipes out plans to construct 70 large new coal power plants, in favour of gas, +renewables, such as wind +solar
www.mining.com/web/coal-dropped-from-vietnams-future-energy-…

"Vietnam will effectively shelve the equivalent of 70 large coal power plants following an announcement from the Prime Minister Nguyen Tan Dung that the country would drop all further coal-fired power plant projects and move towards cleaner energy.

“This huge win follows tireless work from environmental advocates highlighting the health and environmental impacts of the country’s coal expansion plans,” said Arif Fiyanto, Greenpeace Southeast Asia Coal Campaigner.

“This is one of the biggest victories for environmental and climate advocates in Vietnam, and a crucial step for Southeast Asia where development plans have tended to rely heavily on coal,” said Arif. “Vietnam’s decision is the Paris Agreement in action, and with a clear steer towards renewable energy it sets the benchmark for countries across the region to follow.”


Before the announcement, Vietnam had the biggest plans for coal-fired power plants in Southeast Asia with 44 gigawatts planned (the equivalent of 70 large coal plants) on top of 17 gigawatts under construction. Some of the planned coal projects will be converted to gas and measures will be made to create better investment conditions for wind and solar.

“Vietnam is playing its part in kicking our global addiction to coal. With Indian coal imports falling and China implementing a three-year ban on new coal mines, there is a definite sense that change is in the air in Asia,” said Arif.

“Driven by concerns from people more aware than ever of the health and environmental impacts of fossil fuels, we are on the cusp of an energy revolution. But it needs to move faster and policy announcement such as this are just the first step.”

Greenpeace Southeast Asia last year worked with environmental groups, such as the Vietnam Sustainable Energy Alliance (VSEA), and researchers from Harvard University, to highlight the health impacts of the planned coal expansion.

The groundbreaking study used modelling to show how existing coal plants in Vietnam cause an estimated 4,300 premature deaths every year, which would have risen to 25,000 premature deaths per year if the coal expansion plans were approved. "

[Popeye82]

2nd spill @Samarco site in Brazil

www.australianmining.com.au/news/second-spill-at-samarco-sit…

[Popeye82]

U.S. coal for electricity plummets to 45-year low, Coal-fired power plants produced just 29 percent of electricity in Nov

www.mining.com/u-s-coal-for-electricity/?utm_source=digest-e…
www.scientificamerican.com/article/coal-for-electricity-hits…

"The amount of coal used for electricity generation in the United States has sunk to a 45-year low. In 1970, the last year that the percentage of coal use compared to other energy inputs like natural gas, nuclear, wind and solar energy was this paltry, President Richard Nixon was in his second year of office, Blood, Sweat and Tears won the Grammy for Album of the Year, and Midnight Cowboy became the only X-rated film to win Best Picture at the Academy Awards.

According to the Energy Information Administration (EIA), coal-fired power plants produced just 29 percent of U.S. electricity in November, compared to 35 percent last July and 39 percent for all of 2014. “Coal generation is about as low as it’s ever been,” EIA analyst Glenn McGrath told Climate Central, in a story carried by Scientific American. “It’s never been that low for a particular month.”


A graph from the EIA shows coal power generation dipping below 100 million megawatt hours on a monthly basis, with the trend line dropping steadily since 2007. In comparison electricity from natural gas, a substitute fuel for utilities, increased during the same time period, as shale gas production in the U.S. ramped up, causing prices to fall. The EIA shows coal consumption dropped 24 percent between November 2014 and November 2015, while natural gas use increased 21 percent.


"Coal generation is about as low as it’s ever been. It’s never been that low for a particular month."

In 2015, for the first time in U.S. history, power plants running on natural gas produced more electricity than those running on coal. Older coal power plants are being retired due to the high cost of meeting environmental regulations being trumpeted by the Obama Administration. But according to McGrath, the Administration's climate change plan bears less blame for coal's demise than economics.

“The Clean Power Plan hasn’t even hit [utilities] yet,” McGrath was quoted saying. “Gas is just dirt cheap, it’s that simple. It’s probably unprecedented to see, on a Btu (British thermal unit) basis, to see gas undercut coal. Gas has been taking coal’s share away for a while.”

According to the EIA, at the start of the gas fracking boom, natural gas prices were at $13 per million Btu, then fell to $2/MBtu, before jumping again in 2014. Prices have since fallen again, reaching a bottom of $1.68 in December, as a warm U.S. winter has crimped demand and failed to draw down inventories that have been in storage since the summer. "

[Popeye82]

World's 'top 10 rookie gold mines', these high-grade mines will soon start competing with gold mining's industry leaders


www.mining.com/worlds-top-10-rookie-gold-mines/?utm_source=d…

[Popeye82]

http://blogs.platts.com/2016/01/29/wheres-the-silver-lining-…

[Popeye82]

http://piercepoints.com/mining-investment-copper-freeport-in…

[Popeye82]

Antwerp diamond trade turns to fintech platforms
http://finance.yahoo.com/news/antwerp-diamond-trade-turns-to…

[Popeye82]

www.asx.com.au/asxpdf/20160203/pdf/434t64ylg769lm.pdf

[Popeye82]

www.mining.com/china-gets-tougher-on-illegal-mining-exportin…

[Popeye82]

Albemarle gets approval, to increase lithium brine extraction in Salar de Atacama, Chile

www.mining-technology.com/news/newsalbemarle-secures-approva…

"US-based lithium producer Albemarle has secured approval to increase its currently authorised lithium brine extraction rate at the company's facility in the Salar de Atacama, Chile.


The approval has been granted by the Environmental Assessment Commission (CEA) of the Antofagasta Region.

With the increase of lithium brine extraction, the company will be able to meet the rising demand for lithium.

Albemarle also entered a memorandum of understanding (MoU) with the Chilean Government to increase its output of lithium.

Under the MoU, Albemarle will get sufficient lithium to support the production of 70,000mt per year of technical and battery grade lithium carbonate over a 27-year period.

The deal will also provide the company with 6,000mt annually of lithium chloride at its two manufacturing facilities in La Negra, Antofagasta, as well as at a third lithium carbonate facility planned to be constructed.

The MoU will provide Albemarle with an option to get an additional lithium quota regarding the development of lithium hydroxide production directly from brine.

Albemarle president and CEO Luke Kissam said: "Our sustainable, state-of-the-art operations allow us to maximise the amount of lithium extracted from the brine, thus increasing the value of this resource for the stakeholders."

"This agreement will not only establish Chile as the global leader in the production of value-added lithium-based products, it provides economics that justify Albemarle's continued investment in the region."

Albemarle hopes to execute the agreement by the end of the first quarter of 2016. "

[Popeye82]

US proposes $1,000,000,000 fund for hard-hit coal-producing communities, a new bill has been introduced by the chair of the US House of Representatives appropriations committee, which would make $1,000,000,000 in funding available, to revitalise troubled coal-producing communities in the country

www.mining-technology.com/news/newsus-proposes-1bn-aid-batte…

"A new bill has been introduced by the chair of the US House of Representatives appropriations committee, which would make $1bn in funding available to revitalise troubled coal-producing communities in the country.

Congressman Hal Rogers said that the 'RECLAIM Act' will provide support to those communities that are hit by the downturn of the coal industry.


Under the bill, funding would be released from the government's Abandoned Mine Lands (AML) programme in order to help communities generate new economic activities.

Hal Rogers, Matt Cartwright, Evan Jenkins, Don Beyer, and Morgan Griffith filed the 'RECLAIM Act: Revitalizing the Economy of Coal Communities by Leveraging Local Activities and Investing More'.

Due a slump in nationwide coal production in recent years, mining communities throughout the US have been struggling to cope with job losses.

The legislation is releasing the fund to provide assistance to those communities that have traditionally relied on the coal industry for employment.

Under the plan, $200m would be allocated to participating states for a period five years annually. Every year, $5m would be provided through grants for coal-producing states that no longer have abandoned mine lands.

Rogers said: "In Kentucky alone, we've lost more than 11,000 coal mining jobs since 2009.

"Many coal communities in Appalachia simply do not have the resources to reclaim the abandoned mine sites within their borders. This bill allows these communities to be proactive in restoring these sites and utilise them to put our people back to work.

Cartwright said: "For the families that depended on mining jobs, benefits, and pensions that have disappeared as coal companies have closed their operations, we must act to provide new opportunities.

"Additionally, we must address the environmental legacy left by abandoned mines."

The legislation comes on the heels of a similar $90m AML pilot project included in the 2016 Omnibus bill, which will be implemented in Kentucky, Pennsylvania and West Virginia. The project will provide grants to coal communities to reclaim abandoned mine lands."

[Popeye82]

www.australianmining.com.au/news/south32-to-cut-jobs?mid=1a9…

[Popeye82]

http://aheadoftheherd.com/Newsletter/2016/Hungry-People-Gold…

[Popeye82]

interessant,
und verwirrend(für mich)
http://piercepoints.com/mining-investment-exploration-india-…

[Popeye82]

US researchers discover new method to get rare-earth elements, from coal - MT/DoE - Feb /Jan 15, 2016

www.mining-technology.com/news/newsus-researchers-discover-n…
http://energy.gov/fe/articles/doe-led-research-team-makes-si…
http://link.springer.com/article/10.1007%2Fs40553-015-0064-7
http://energy.gov/fe/articles/doe-selects-projects-enhance-i…

"Researchers from Penn State and the US Department of Energy (DOE) have found an economical method to extract rare-earth elements (REEs) from coal byproducts through a chemical process called ion-exchange.

The rare-earth elements widely used in many industries are a set of 17 metals such as scandium, yttrium, lanthanum and cerium.

The American Chemistry Council said that these elements support more than $329bn of economic output in North America.


Penn State professor of energy and mineral engineering Sarma Pisupati said: "We have known for many decades that rare-earth elements are found in coal seams and near other mineral veins.

"However, it was costly to extract the materials and there was relatively low demand until recently."

The researchers used by-products of coal production from the Northern Appalachian region of the US and investigated whether REEs can be safely extracted through the ion-exchange process.

The eco-friendly process requires less energy and involves rinsing the coal with a solution that releases the REEs that are bound it.

In order to carry out the study, researchers used coal byproducts, with some not considered or marked as refuse during mining operations as they were of poor quality.

The study also involved locations within the coal seam that contained the highest amounts of the elements and the highest concentration was often found in the poorest quality coal.

Several coal-mining companies in Pennsylvania are set to partner with the team to explore the possibility of a commercial REE-extraction operation. "

[Popeye82]

www.australianmining.com.au/news/nathan-tinkler-declared-ban…

[Popeye82]

www.australianmining.com.au/news/mining-to-get-worse-before-…
www.cityam.com/234023/mining-sector-burning-through-cash-res…











Down, down, down

[Popeye82]

www.telegraph.co.uk/news/worldnews/asia/pakistan/12146439/Th…

[Popeye82]

www.australianmining.com.au/news/mps-call-for-queensland-inn…

[Popeye82]

Nickel drops to lowest point in more than a decade, Nickel has slumped to its lowest level in nearly 13 years, as Chinese demand continues to recede

www.australianmining.com.au/news/nickel-drops-to-lowest-poin…

[Popeye82]

www.mining.com/colombia-bans-mining-in-countrys-vast-alpine-…
www.elpais.com.co/elpais/colombia/noticias/corte-tumbo-posib…

[Popeye82]

http://piercepoints.com/mining-investment-exploration-privat…
www.mining-technology.com/news/newsprivate-equity-investment…
www.blplaw.com/mining-private-equity
https://sites-blplaw.vuturevx.com/62/2366/linked-downloads/p…

[Popeye82]

www.australianmining.com.au/features/cyber-security-and-mini…

[Popeye82]

www.mining-technology.com/news/newscongo-scraps-plans-revise…

[Popeye82]

http://piercepoints.com/a-million-square-kilometers-of-gold-…

[Popeye82]

www.mining.com/web/anglogold-says-ghana-troops-need-to-prote…

[Popeye82]

Canadian companies sell "jewels", to keep oil sands afloat
www.mining.com/web/canadian-companies-sell-jewels-to-keep-oi…

[Popeye82]

Ready to pull the trigger?

www.mining.com/x2-in-the-running-for-brazilian-niobium-repor…

[Popeye82]

http://benchmarkminerals.com/Blog/lithium-prices-experiencin…

[Popeye82]

www.australianmining.com.au/news/exploration-development-inc…

[Popeye82]

http://piercepoints.com/energy-investment-oil-venezuela-mili…

"Strange and unsettling developments emerging late last week -- from one of the world's key oil-producing countries.

Venezuela.

The Venezuelan government Friday issued a decree that, for the first time, allows the country's military to take direct involvement in natural resources projects.



The government will do this by creating a new military company. Which is authorized to participate in both oil field services, as well as in Venezuela's mining sector. With the new firm going by the name of Cia. Anonima Militar de Industrias Mineras, Petroliferas y de Gas -- or simply, Camimpeg.

The company's board of directors and president will be appointed by Venezuela's defence minister.

The government said that Camimpeg will be authorized to work in activities like maintenance of wells and drilling rigs, transport, and the chemicals business. Suggesting that the new company will have a broad reach across the local natural resource industry.

Analysts surveyed by Bloomberg were split on the reasons for this extremely unusual move. With some suggesting that the new military vehicle could be a place to stash oil assets -- with fields to be transferred out of state oil firm PDVSA, in case that firm goes into default and becomes exposed to creditors.

Other observers believe the military firm is more geared toward the mining sector. Which the Venezuelan government has been pushing recently, as a way to diversify away from oil during the current period of low prices.

It was also suggested that the new company could simply be a way to reward key military supporters of President Nicolas Maduro. With Maduro looking for new ways to pay these pillars of his empire, as the economy of Venezuela stagnates.

Whatever the reason, this is a major red flag over the future of Venezuela's resource sector. The military aren't experts in oil or mining -- and the move is likely to mean more bureaucracy, inefficiency, and squandered opportunities in Venezuela's already-embattled industry.

It could even signal the beginning of a steep downturn in productivity of existing assets. As the country sells off its future to prop up today's strongmen. Watch for more announcements on specific projects taken up by Camimpeg.

Here's to knowing what you're good at,



Dave Forest "

[Popeye82]

www.australianmining.com.au/news/anglo-american-to-exit-aust…

[Popeye82]

http://piercepoints.com/energy-investment-natural-gas-woodsi…

[Popeye82]

www.australianmining.com.au/news/new-core-library-opens-in-a…

[Popeye82]

Antwort auf Beitrag Nr.: 51.679.867 von Popeye82 am 07.02.16 19:26:11

für den Rohstoffmarkt wird das denk ich noch ein interessantes/relevantes Ding

India opens 100 mineral blocks to private companies, they cover a 12,000 square km area, +could be rich in gold, iron ore, tin +tungsten, among others

www.mining.com/india-opens-100-mineral-blocks-to-private-com…
http://pib.nic.in/newsite/PrintRelease.aspx?relid=136502
http://timesofindia.indiatimes.com/business/india-business/I…

[Popeye82]

www.mining.com/massive-wave-of-deals-to-shake-the-global-gol…

[Popeye82]

www.australianmining.com.au/news/glencore-carries-out-us$8-4…

[Popeye82]

www.australianmining.com.au/news/sandvik-joins-ceec

[Popeye82]

www.mining-technology.com/news/newszambia-approves-new-royal…

[Popeye82]

New technology, automation to help miners survive commodity prices rout, when the worst collapse of commodity prices in nearly two decades finally ends, mining companies left standing probably will have more robots on their side

www.mining.com/new-technology-automation-to-help-miners-surv…

"When the worst collapse of commodity prices in nearly two decades finally ends, mining companies left standing probably will have more robots on their side.

Automated drills and driver-less trucks are among the new technology already employed by some of top mining companies, including BHP Billiton (ASX:BHP) and Rio Tinto (LON:RIO). But a new study by BMI Research says that miners, big and small, are set to focus their spending on innovation through the use of technology and automation as a way of improving efficiency and boosting output at existing operations.




The shift, say the analysts, will follow miners' strategy of retrenchment and divestment of high-cost assets, aimed at reducing costs and improving their balance sheets.

BMI research predicts that while weak metal prices will continue forcing miners to take drastic measures, spending will begin to focus on four key areas of innovation — human and external interface; IoT platforms & processors; communication & controllers; and equipment.




While some job loses will inevitably come with the incorporation of more technology, some believe the change is positive, as it can create more interesting positions while making lower-skilled posts obsolete. "

[Popeye82]

http://benchmarkminerals.com/Blog/south-koreas-rise-to-lithi…

[Popeye82]

www.australianmining.com.au/news/bhp-announces-massive-loss-…

[Popeye82]

AngloGold Ashanti digs itself, out of debt, The world’s third-largest gold producer returned to profit in the 4h quarter, did not manage to avert posting a net loss for 2015

www.mining.com/anglogold-ashanti-digs-itself-out-of-debt/?ut…

"South Africa’s AngloGold Ashanti (NYSE:AU) (JSE:ANG), the world’s third-largest producer of the metal, returned to profit in the fourth quarter thanks to a combination of cost cutting measures and improved bullion prices.

The company, however, did not manage to avert posting a net loss for 2015, which widened to $70m versus a $39m loss a year earlier. Revenues were $4.17bn from $5.11bn in 2014.

AngloGold has cut overhead expenditure by more than two-thirds since the end of 2012 to battle weak gold prices, which have dropped by more than 35% from 2011 highs above $1,900 an ounce.
"AngloGold has cut overhead expenditure by more than two-thirds since the end of 2012 to battle weak gold prices."


Among the measures that have helped the miner dig itself out of debt, the company highlighted the sale of its Cripple Creek & Victor mine in Colorado, U.S., for $820 million in cash to Newmont Mining (NYSE:NEM).

Chief executive Srinivasan Venkatakrishnan said the firm was still looking at options for Obuasi, its ageing mine in Ghana, one of Africa’s largest gold mines. Randgold Resources (LON:RSS), which has several joint ventures with AngloGold, pulled out of a proposed joint redevelopment at Obuasi in December, saying the project would not generate the returns it sought.

Venkatakrishnan emphasized the need for AngloGold to be "unemotional" regarding Obuasi, which is beset with conflict owing to an invasion of the mine premises by hundreds of illegal miners.

Military forces withdrew from the mine on February 2, a development that threatened the long-term viability of the mine, AngloGold said. On February 6, an AngloGold employee was killed during a riot.

For the current financial year, AngloGold has targeted output of up to 3.8 million ounces, but Venkatakrishnan said the company was no longer forecasting "absolute numbers" allowing it the flexibility to cut unprofitable output. "

[Popeye82]

www.mining.com/oil-prices-to-remain-depressed-until-2017-eve…

[Popeye82]

US uranium production hits lowest, in 10 years

www.mining.com/us-uranium-production-hits-lowest-in-10-years…
www.eia.gov/uranium/production/quarterly/

"Production of uranium in the US dropped in 2015 to the lowest level in ten years, figures released by the Energy Information Administration (EIA) show.

In the fourth quarter of the year alone, uranium concentrate output hit 85,048 pounds U3O8 (225 tU), its lowest level since 2002, and 46% less than what the country produced in the same quarter of 2014.


All of the fourth quarter's production came from four in-situ leach operations, including Wyoming-based Lost Creek (Ur-Energy), Nichols Ranch (Energy Fuels) and Smith Ranch-Highland (Cameco), as well as Crow Butte (Cameco), in Nebraska.

The energy watchdog attributes the output drop to depressed prices for spot uranium, used to make fuel for nuclear power production. The commodity has traded at historical lows since the 2011 Fukushima disaster in Japan, which led to the shutdown of all reactors in that country, generating burdensome stockpiles globally.




Prices have remained stuck around $35 a pound, or about 40% lower than in March, 2011, right after Fukushima. But experts believe that recovery is just a matter of time, based on supply and demand outlooks.

Canadian uranium producer Cameco (TSX:CCO)(NYSE:CCJ), the world’s second-largest uranium producer, said earlier this month that China is building 24 reactors to produce power from nuclear fuel.

The company forecast an increase in the total number of nuclear reactors operating globally — from 439 in 2015 to 450 this year and to 497 reactors by 2025.

As demand grows, there are few new sources of supply to keep pace, as depressed prices continue to discourage exploration and new mines.

The EIA's annual report of domestic uranium production is due to be published in May. "

[Popeye82]

BHP: No iron ore supply opportunity for @least a decade, the composition of China's economy is changing more quickly than anticipated, says world number one mining company

www.mining.com/bhp-no-iron-ore-supply-opportunity-for-at-lea…

[Popeye82]

www.mining.com/indias-tariffs-on-gold-working-february-impor…

[Popeye82]

South Australia to triple copper production
www.mining.com/web/south-australia-to-triple-copper-producti…

"TRIPLING its copper exports over the next two decades is the cornerstone of an Australian state’s plan to bolster its mining industry.

The South Australian Government has launched its long-term Copper Strategy to produce and export more than $8 billion of copper a year and entrench the state as one of the world’s major suppliers of the metal.

South Australian Premier Jay Weatherill said the strategy set out clear pathways to help the industry triple its copper production to 1 million tonnes a year within the next two decades.

“Currently South Australia hosts 68 per cent of Australia’s copper resources within the Copper Belt – home to Olympic Dam, Prominent Hill, Kanmantoo and the world-class copper discovery at Carrapateena,” he said.

In 2014, Australia produced about 970,000 tonnes of copper, making it the world’s sixth biggest producer behind Chile (5.75 million tonnes), China (1.76m tonnes), Peru (1.38m t), United States (1.36m t) and Congo (1.03m t).

A little over a quarter of the copper mined in Australia in 2014 was sourced from South Australia, helping it reach $1.9 billion in exports of the metal in 2014-15.

Mineral Resources and Energy Minister Tom Koutsantonis said the Government had already taken several early steps to implement the strategy including providing $20 million for PACE Copper and $10 million towards a partnership with OZ Minerals to support innovative research into a process to improve copper-in-concentrate.

“The $20 million PACE Copper initiative includes the world’s largest high-resolution airborne survey to unlock the underground riches in South Australia’s Copper Belt,” he said.


Further Copper Strategy initiatives aim to:

- Establish South Australia as an International Copper Technology and Research Hub, through leveraging existing copper research initiatives and programs.
- Identify infrastructure needs and develop innovative approaches including finding suitable water supplies and transport opportunities for current and future mines.
- Run Copper Strategy Success Seminars with mining industry, researchers and services companies to share innovations, ideas, build skills and learn from experts in the field.
- Develop regional approaches to changes in the copper mining industry to support transfer of skills and jobs and support new ventures in regional communities.
- Attract major international resource and service companies with deep mining expertise and technology.


As part of the consultation process, three action themes were identified which aim to bring forward exploration and discovery of new copper reserves, improve productivity and efficiencies of local copper producers and improve the industry’s capacity to engage with the South Australian community. "

[Popeye82]

www.australianmining.com.au/news/federal-government-announce…

[Popeye82]

British Columbia introduces new mining laws

www.mining-technology.com/news/newsbritish-columbia-introduc…

"British Columbia has introduced amendments to the Mines Act in an effort to strengthen the government's regulatory oversight of the mining industry.

Introduced by minister of energy and mines Bill Bennett, the changes will also give the ministry additional compliance and enforcement tools.

The regulations are part of the government's ongoing actions to implement recommendations on the Mount Polley tailings storage facility (TSF) failure in August 2014, which led to mine waste being released into waterways.



They will also enable government to include administrative monetary penalties as an additional compliance and enforcement tool under the Mines Act.

The amendment will see an increase in existing penalties that are available for court prosecutions under the act. They will be raised from $100,000 and up to one year imprisonment to $1m and up to three-year sentences.

In addition, the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) is developing new guidelines to be released by mid-2016, and aimed at improving professional engineering practices for dam site characterisation assessments.

In 2015, the Mining Association of Canada (MAC) initiated a taskforce review of its tailings management requirements and guidance documents in response to the independent panel's recommendation to improve corporate governance.

During December 2015, MAC released the final report from this taskforce and is currently working to implement its recommendations.

The province also proposes the implementation of a new requirement that all operating mines in BC with TSFs establish independent tailings dam review boards.

Bennett said: "The legislative changes I introduced today provide my ministry with more tools for compliance and enforcement, strengthening British Columbia's regulatory framework so we can build an even safer, more sustainable mining industry in this province.

"It is my goal that BC's regulatory regime for health and safety on mine sites is the best in the world and we will get there by implementing all of the recommendations of the independent expert panel and the chief inspector of mines." "

[Popeye82]

Antwort auf Beitrag Nr.: 51.830.638 von Popeye82 am 25.02.16 01:19:57

Vale posts record loss, to sell core assets

www.vale.com/EN/investors/information-market/Press-Releases/…
www.mining.com/vale-posts-record-loss-to-sell-core-assets/?u…

"Brazil’s mining giant Vale (NYSE:VALE) reported Thursday its deepest quarterly net loss ever, becoming at the same time the first of the three largest iron ore producers to put some of its core assets up for sale.

The Rio de Janeiro-based company posted a fourth-quarter net loss of $8.57 billion, its fifth drop in the past six quarters, driven by a dramatic and sustained rout of its main profit driver, iron ore.

Vale also blamed its poor results on impairment charges and a 47% depreciation of the Brazilian real against the dollar last year, situation that increased the value of the company’s dollar-denominated debt.



Iron ore prices were particularly hit last year, averaging $55.5 a tonne, 42% than in 2014. The steel-making ingredient dropped as low as $37 a tonne by the end of last year.
"Vale posted a fourth-quarter net loss of $8.57 billion, its fifth drop in the past six quarters."

Over the full year, the company slid to a net loss of $12.13 billion from a net profit of $657 million in the previous 12 months.

Vale had to take a few impairment charges, mostly on its coal and nickel assets, totalling $9.37 billion.

The Samarco dam collapse in Nov. last year, which killed at least 17 people and became Brazil’s worst environmental disaster, also forced Vale to book a write-down of $132 million in unpaid dividends and royalties.

Chief executive Murilo Ferreira said in a conference call that Vale wanted to reduce its net debt to $15 billion within 18 months, from $25.23 billion at the end of the fourth quarter. But given the uncertain outlook for prices of iron ore and other commodities, the firm has begun “actively exploring more aggressive actions for this deleveraging, including the sale of core assets,” he said.

Murillo’s comments mark a substantial change of strategy from his prior plan of offering assets only in peripheral assets, such as energy and logistics.

Despite the negative market conditions, Vale said it remains competitive, with iron ore production costs of $11.9 per tonne excluding royalties.

The world’s largest iron ore and nickel producer also announced that the chairman of the board has been replaced. Gueitiro Matsuo Genso will assume Vale’s top board post effective immediately. He replaces Dan Conrado, who will continue to be a member of the company’s board. "

[Popeye82]

Goldcorp cuts dividend, lowers production guidance for next three years

http://business.financialpost.com/news/mining/goldcorp-inc-c…

[Popeye82]

www.mining.com/zimbabwe-diamond-firms-revolt-to-sue-govt-ove…

[Popeye82]

www.reuters.com/article/us-eritrea-mining-idUSKCN0VZ13S

[Popeye82]

Research launched, to uncover new European deposits, Exeter University scientists are leading a new collaborative project to discover new mineral deposits across Europe

www.australianmining.com.au/news/research-launched-to-uncove…

"Exeter University scientists are leading a new collaborative project to discover new mineral deposits across Europe.

The team will reportedly create new techniques to find to date unrecorded deposits as part of a four year, 5.4 million Euro project from the European Union’s Horizon 2020 program.

This European Union program has also seen the development of new underwater mining robots.

A major focus of the research project will be rare earth minerals.


According to Exeter University (UoE), “The innovative new project will use mineralogy, petrology and geophysics techniques to create advanced exploration models to determine where the valuable minerals can be found.”

UoE Camborne School of Mines professor Frances Wall, who is leading the project, explained that “pioneering new research that will be developed as part of this exciting project will give us unrivalled access to new locations for some of Europe’s most critical raw material deposits”.

“We believe that the project will pave the way for Europe to become a world-leader in this specialist, but vital, area of mineral extraction, and crucially exploit them in an environmentally-responsible way.”

Five other universities, the London Natural History Museum, the British Geological Survey, as well as industry partners are involved in the project.

“We believe that this is the largest research project on carbonatites and alkaline rocks ever undertaken. It is a tremendously exciting opportunity to garner lifetimes' worth of expertise from the world’s experts, which we will do through a series of expert council workshops and fieldtrips," Wall said. "

[Popeye82]

Gold production reaches 12 year high, Australia’s gold production has reached a 12 year high, on the back of soaring gold prices

www.australianmining.com.au/news/gold-production-reaches-12-…

[Popeye82]

http://piercepoints.com/mining-investment-venezuela-gold-cop…

[Popeye82]

http://piercepoints.com/mining-investment-gold-india-duty-ta…

[Popeye82]

Madagascar gets World Bank support to fight minerals trafficking
www.shanghaidaily.com/article/article_xinhua.aspx?id=321839

"ANTANANARIVO, March 1 (Xinhua) -- Madagascar received four speedboats offered by the world Bank to fight against the trafficking of its natural resources, a statement from the presidency said Tuesday.

The reception of these patrol speedboats was attended by Madagascar's President Hery Rajaonarimampianina and the World Bank representative to Madagascar Coralie Gevers on Monday in Toamasina, a port city 360 kilometers northeast of Madagascar's capital Antananarivo.

"We must continue the fight against trafficking of Madagascar's natural resources. We'll do not tolerate traffickers. We'll do not accept it any more, because it causes a great loss for the country," Madagascar's president said during the reception of these speedboats.

The president asked all Malagasy citizens to denounce those involved in this traffic.



"The World Bank is honored by the commitment of Madagascar's President in the fight against trafficking of natural resources," the World Bank representative to Madagascar said.

Coralie Gevers added that Madagascar needs to be supported by a strong will to act at all levels.

These boats will allow Madagascar's navy to follow quickly traffickers on the basis of information received from the Center of Maritime Information Fusion installed recently in Madagascar's capital, the presidency said.

Funded by the World Bank, these speedboats well equipped with sophisticated equipments, cost together 775,000 Euros.

Deemed rich in natural resources, including precious woods, endemic animals, mining, and marine products, Madagascar is known worldwide as source of fauna or flora illicitly trafficked to other countries for lack of control and corruption. "

[Popeye82]

www.australianmining.com.au/news/australia-voted-world-s-bes…

[Popeye82]

The Internet of Mining Things delivers the next wave of productivity, the Internet of Things(IoT) is increasing the connectedness of people +things, on a scale that once was unimaginable

www.australianmining.com.au/features/the-internet-of-mining-…

"The Internet of Things (IoT) is increasing the connectedness of people and things on a scale that once was unimaginable. The magnitude of this evolution is momentous with more than 80 billion Internet-connected devices projected to be in use in 2024, up from less than 20 billion in 2014. When we then couple the data produced, and processes involved, in the interaction of things-to-things and things with people, what results is a powerful model upon which to drive the digitisation and transformation of companies, industries and whole nations.

The ability to use standard Internet technologies, such as unmodified Ethernet, throughout, from the enterprise all the way down to individual field devices, enables new levels in connectivity, providing greater productivity, better utilisation of assets, and improved decision-making to industrial companies.

According to Michael Boland, distinguished systems engineer at Cisco, “The IoT is connecting people in more relevant, valuable, and meaningful ways; delivering the right information to the right person or machine in real time. Data is being leveraged in more useful ways for better decision-making.”

The mining industry has a lot to gain from the connectivity that the IoT delivers. Mining operations around the world are on an automation curve – they are applying technologies to automate their key functions to gain efficiencies in production. However, these initiatives are often focused and restricted within production silos.

“We see a significant number of mines that have data locked away in individual systems but now want to federate that data together, instigate new processes, involving their people in new ways to achieve better outcomes. Mining generates big data because the number of sensors are growing rapidly and systems involved are becoming more intelligent, so the challenge ahead is to federate that data,” said Boland.

Productivity and safety are two key drivers in mining. Removing people from the mine site and into remote operating centres helps companies achieve both. By leveraging IoT technologies, the interaction between people, process, data and things can be securely and reliably monitored, modified and maintained remotely.


Turning big data, into meaningful information

“The next big boom in mining is going to be connecting a lot more ‘things’. There are going to be more wireless and mobile devices that will be able to be instrumented, sensed and controlled more effectively,” said Boland.

This results in a lot of data being generated that needs to be analysed to generate useful information. Data needs to be intelligently captured, correlated and analysed to optimise systems.

Not only does this data need to be captured and analysed, but also to be available as useful information in real time so that the mine’s remote operating centre can modify processes, asset utilisation and maintenance to optimise production rates in relation to dynamic market demands. Through IoT, this next level of optimisation can be achieved for a single mine or a federation of mines, rail and ports. IoT enables the digitisation of the entire mining supply chain for optimisation.


Centralised control

The complete mining operation, from pit to port, involves many functions with many specialist devices and equipment. Centralising control allows mining operations to pool resources to optimise production and reduce costs.

“The other trend here is that we are arriving at a point where instead of doing everything ourselves, we are starting to contract out particular roles that require specialist expertise provided it makes commercial and economic sense and the miner is in full control,” explained Boland.

“However, it is becoming apparent that mining systems that have been implemented to date have not been designed for this concept of integrated but outsourced services. We need to have these roles inside the integrated operations systems, yet others may actually perform them in a secure and controlled way. Through well designed IoT infrastructure, the ability for remote experts to analyse information and real time systems securely,” he said.


The next wave, of productivity

The IoT is taking the world by storm and opening new and exciting possibilities to businesses, government and industries. The mining sector also has much to gain from the benefits that IoT can provide, particularly in light of the current challenges.

Through IoT, mining operations can save energy, downtime and costs associated with production and transportation of resources. Remote operations remove people from potentially hazardous situations. The IoT provides the platform for the integration and optimisation of the entire supply chain.

“On a national scale, for Australia, the benefits that the IoT can deliver are most important because as a country we are not going to win on efficiency gains based on cheaper labour to drive down costs. We are going to use our expertise and knowledge of mining and automation systems to continually improve the most efficient and cost effective mining capability in the world,” said Boland.


Leveraging a unique solution

Together, Rockwell Automation and Cisco have developed a unique value proposition for mining customers to help bridge the gap between mining operations and business systems through network and security products, Converged Plantwide Ethernet (CPwE) reference architectures, training courses, services and solutions.

“By developing reference architectures for mining we are reducing risk for our customers. We are developing full guides on how to facilitate convergence of information technology and operational technology so that our customers do not have to do all the heavy lifting and have all the expertise themselves, yet still inherit the capabilities for safe, compliant and sustainable operations and performance,” explained Boland.

“We are unique in that we develop solutions that leverage our expertise in operational technology, through the Rockwell Automation offering, and then combine this with the deep networking, datacentre and security capabilities of Cisco,” he said.


Connecting people, process, data +things, above, +below, the ground

A mine in Canada has established a new technology benchmark for future mines by applying IoT technologies throughout the site. A detailed evaluation process recognised that the Rockwell Automation and Cisco offering was capable of delivering the complete integrated solution. The central operations centre utilises IoT technologies and combines systems monitoring and control with remote equipment control and tracking.

The mine deployed the latest advances in controls and communications, including comprehensive Wi-Fi communications for surface and underground phone, data, asset and personnel tracking; and a Radio Frequency Identification-based wireless tracking system, used to create ‘ventilation-on-demand’ underground.

Combining operational technology with networking and security capabilities provided the inherent flexibility for the mine to adapt to changing requirements in real time.

According to Geoff Irvine, mining industry manager at Rockwell Automation, “Using standard Ethernet components really adds significant value in being able to combine control, safety, voice over IP, video, people tracking and also applications such as ventilation on demand.”

IoT technologies provide the capability to integrate and analyse data from various processes such as remote sensing of objects and the environment, images from cameras deployed for monitoring and maintenance, scheduling preventative maintenance procedures and monitoring power usage.

“Together with Cisco we help customers leverage technology to better gather and analyse data, and transform it into actionable, real time insightful information. By converging information technology (IT) with operational technology (OT) into a single unified architecture, mines can benefit from establishing a ‘Connected Enterprise’ and leveraging the power of this information to optimise operations and take their productivity to the next level,” explained Irvine. "

[Popeye82]

Warning of another string of mining bankruptcies, in 2016, Rate of corporate defaults could be double historical average going back to 1920 says new study

www.mining.com/warning-of-another-string-of-mining-bankruptc…

[Popeye82]

Antwort auf Beitrag Nr.: 51.195.087 von Popeye82 am 28.11.15 08:23:44

neGxeN s'ygrenE worrA si s'dlroW tsegraL depolevednU hgiH-edarg muinarU tisopeD

www.u3o8.biz/s/MarketCommentary.asp?ReportID=741717&_Type=Ma…
www.nexgenenergy.ca/i/pdf/news/NexGen-NR-Mar-3-2016.pdf

[Popeye82]

Antwort auf Beitrag Nr.: 51.887.685 von Popeye82 am 03.03.16 02:29:11

www.australianmining.com.au/news/more-miners-to-go-bankrupt-…

[Popeye82]

Mining to boost Peruvian GDP this year, despite low copper prices, the country expects around $56,000,000,000 worth of mining projects to come on stream this year

www.mining.com/mining-to-boost-peruvian-gdp-this-year-despit…

[Popeye82]

http://piercepoints.com/energy-investment-exploration-pipeli…

[Popeye82]

New Silk Road transport route opens, between Harbin +Ekaterinburg - ERBB - Mar 5, 2016

www.eurasianbusinessbriefing.com/new-silk-road-transport-rou…

"Silk Road transport route: A train with 47 containers loaded with $1.46m of Chinese-made bicycle parts and light industrial products that set out from the Heilongjiang Province capital of Harbin last week is due to arrive in Ekaterinburg tomorrow. The 5,889km journey will have taken 10 days, CUTTING THE BEST PART OF A MONTH OFF THE MARITIME ALTERNATIVE.


The opening up of the new route follows the launch of a cargo train link between Harbin and Hamburg in Germany in June last year, and the first freight train from China to Iran departed from Yiwu in east China’s Zhejiang province and arrived in Tehran in the middle of February. Volumes of containerized cargo travelling between China and Europe have been on the rise in recent years as operators increase frequencies and state organizations along the route lend their weight to the development of new services.

Two-way services from Asia’s largest railway hub in the city of Chengdu in southwest China’s Sichuan province to Lodz in Poland were increased from twice weekly to five times per week at the beginning of the year, with Germany’s DHL offering temperature controlled container services along the route for food and IT products.

Other landbridge services are also expanding. Trans Eurasia Logistics (TEL), a joint venture between Germany’s national rail company Deutsche Bahn and Russian Railways, launched a new regular weekly service between Wuhan in central China’s Hubei province and Hamburg last year. TEL also operates the Yuxinou service, the 700 yard-long container train that travels between Chongqing in southwestern China and the German port city of Duisburg three times per week and five times during peak season. "

[Popeye82]

Antwort auf Beitrag Nr.: 51.911.946 von Popeye82 am 05.03.16 18:42:54

Silk Road Business Network
www.eurasianbusinessbriefing.com/one-belt-one-road-one-datab…

[Popeye82]

EC approves Trans Adriatic Pipeline, the European Commission yesterday approved the Host Government Agreement between Greece +the Trans Adriatic Pipeline(TAP) consortium, in a move that gives the green light to the construction of the new gas pipeline along the bed of the Adriatic from Greece +Albania to Italy, that is intended to reduce Europe’s dependence on Russia for its energy requirements, by providing a direct supply of gas from the Caspian Sea

www.eurasianbusinessbriefing.com/ec-approves-trans-adriatic-…

"The European Commission yesterday approved the Host Government Agreement between Greece and the Trans Adriatic Pipeline (TAP) consortium in a move that gives the green light to the construction of the new gas pipeline along the bed of the Adriatic from Greece and Albania to Italy that is intended to reduce Europe’s dependence on Russia for its energy requirements by providing a direct supply of gas from the Caspian Sea.



The agreement sets out how the consortium will construct and operate the pipeline and provides TAP with a specific tax regime for the first 25 years of commercial operations.“The European Commission has found the Host Government Agreement between the Greek authorities and the Trans Adriatic Pipeline to be in line with EU state aid rules,” the EC said in a statement posted on its website. “The project will improve the security and diversity of EU energy supplies without unduly distorting competition in the Single Market.”

The 870km TAP pipeline is intended to transport natural gas from Azerbaijan’s giant Shah Deniz 2 field in Azerbaijan to Europe and will hook up with theTrans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi.

“Today’s approval of the TAP agreement is an important step towards completing the Southern Gas Corridor [the 3500km gas-value chain stretching from the Caspian Sea to Europe],” Maros Sefcovic, the EC Vice President in charge of the Energy Union is quoted as saying in the statement. “The Energy Union framework strategy of February 2015 identified this project as a key contribution to the EU’s energy security, bringing new routes and sources of gas to Europe.”

The TAP consortium’s major shareholders are SOCAR, Snam, BP, Fluxys, Enagás and Axpo, and work on the new pipeline is expected to begin in mid-2016. "

[Popeye82]

http://piercepoints.com/energy-investment-exploration-china-…

[Popeye82]

www.australianmining.com.au/news/fortescue-and-vale-sign-chi…

[Popeye82]

www.australianmining.com.au/news/indonesia-may-run-out-of-co…

[Popeye82]

Gold is trading @highest price, in more than a year

www.mining.com/gold-is-trading-at-highest-price-in-more-than…