London — Iron ore prices have risen to unsustainable levels supported by stronger futures pricing, according to steel mills who are enjoying high spot steel prices as they recover output from earlier this year. Instead, things took off again in 2016, helped by some capacity reduction and a property construction boom. Wrathall said he hoped Cornish Lithium would be able to start production in 3-5 years at a level of at least 10,000 mt/year of lithium carbonate equivalent and possibly more — a round of drilling due to start in January could expand production possibilities. Mining for Gold and Other Metals in 2021 and Beyond December 7, 2020 At the end of any year and certainly this one, the lucrative gold mine investment goes on the gift list. Quite simply, the iron ore industry cannot afford another Samarco, Brumadinho or Juukan Gorge. BHP will launch its new South Flank operation in 2021 that will replace the 80 million mt/year Yandi mine. Platts spoke to 30 companies for the Outlook over Dec. 7-11, comprising Chinese mills, domestic and international traders and mining companies. For the first time since the Outlooks began in late 2019, a sizeable number (32%) of respondents said manufacturing would play a bigger role for demand in 2021. Data from the SAM Corporate Sustainability Assessment (CSA) provides a snapshot of an industry that is gradually improving, but still has far to go to achieve gender parity at the levels of senior management and board. Even the most sophisticated “all-singing, all dancing” supply-demand model cannot account for a myriad of imponderables. Even today, 60 economies have at least one restriction on women working in mining, according to a 2020 World Bank report. Economic Commentary; Economic Calendar; Global Economies; Saturday - December 12, 2020 Metals and Mining News They discussed their motivations for working in metals. Interviewees highlighted the need for diversity policies to be comprehensive, covering not only gender but also ethnicity and national diversity, LGBTQ+ representation and issues of social mobility, disability and mental health. In other words, a lot of tons of iron ore depend on successful tie-in work, commissioning and ramp-up of new projects. The 2020 Global Metals Awards have gone digital - join us to celebrate with our finalists and find out who this year's category winners are, The 2020 Global Metals Awards have gone digital – join us to celebrate with our finalists and find out who this year’s category winners are, Commodity forecasting is a difficult business at the best of times. The controversial Pebble project in southwest Alaska may turn out to be not just a... Blockchain can trace carbon emissions for mining, metals companies, Chinese investors ready to invest US$ in gold mining in Tajikistan, Estonia may resume phosphorites mining next year, Global prices for iron ore hit seven-year high amid ongoing construction boom in China, Russia plans to accelerate mining activities in African region. Go deeper: S&P Global Platts Iron Ore & Steel Outlook. Some 52% of respondents saw infrastructure construction as the major driver of steel consumption in Q1, with only 16% nominating property construction. Despite its increasing sophistication—automated logistics, use of big data, control centers 1,500 km away from the mine site, etc—mining is still essentially about digging holes and transporting material on trains and ships; there are many things that can go wrong along the supply chain. The World Economic Forum’s Mining and Metals Blockchain Initiative has released a unique proof of... Metso Outotec delivers flotation technology to GTK’s pilot plant Metso Outotec will deliver new, smart flotation cells to GTK Mintec’s pilot plant in Outokumpu,... Chinese investors ready to invest US$ in gold mining in Tajikistan Box 6219 102 34 Stockholm Commerzbank pointed to noticeably higher open interest on both the SGX and the DCE in recent week, with the Chinese exchange raising margin requirements for all contracts with maturity dates up to May 2021 to 15%, from 11%. Long overdue change is now happening in the industry, but there is still much work to be done, thirteen exceptional female leaders told S&P Global Platts. It is hard to see where the estimated hundreds of millions of tons of new supply over the next few years, built into some projections, are coming from. Even with higher steel prices, the potential for margins to support iron ore prices and higher pellet premiums could be limited, a steel group executive said Dec. 14. Australian and Brazilian expansions, accompanied by millions of new tons from Africa, will swamp the market; scrap will increasingly displace iron ore; and prices will return to their historically low levels.”. It is worth noting that the first quarter of each year contains China’s Lunar New Year holidays when markets close for at least a fortnight. The process at Trelavour could also allow production of caesium and rubidium, which were on the US critical materials list, and could be used in the 5G network and other areas, he said. Nov 25, 2020 Omineca Closes $5.5 Million on Oversubscribed Brokered Private Placement Financing ... presentations and other information concerning Omineca Mining and Metals … As well as the many highlights discussed in the interviews, a number of the world’s biggest metals and mining companies have publically set themselves hard targets to improve their gender balance. The IODEX 62% Fe physical price on Dec. 11 rose to $160.70/dmt, a new multi-year high, while the forward curve midpoint delivery window value on the day was $158.09/dmt, according to Platts calculations. But one would have to think some new capacity will be built—especially as the lion’s share is being funded by Chinese companies, which could potentially benefit from Belt & Road Initiative borrowing terms. But planned capacity and actual production are two different things. Over time, the region could pick up any fall in demand for iron ore from China, Japan and South Korea. The market remains cautious about the sustainability of high prices amid the possibility of recurring COVID-19 waves and domestic iron ore shortages. Cornish Lithium said Dec. 7 the tests were carried out using fellow lithium explorer Lepidico’s proprietary technology on samples obtained during a hard rock drilling program this […]. Given the way the market often freaks out (like right now) at any potential supply shortage, any announced delays could see prices spike. Latest articles by Julian. While the raw figures show there is still a way to go to achieve gender parity in metals and mining companies, momentum appears to be building, and the growing importance of ESG to investors is also likely to help speed up progress. When Chinese steel output seemed to go into reverse from 2014, the view was that Chinese steel consumption and output had peaked. Even with higher steel prices, the potential for margins to support iron ore prices and higher pellet premiums could be limited, […]. One of these projects is the ‘Mining and Metals Blockchain’ initiative, a new project designed to “more accurately trace emissions across the value chain using distributed ledger technology” according to a WEF news release. But of course, my crystal ball is just as cloudy as everyone else’s…, London — UK explorer Cornish Lithium is to accelerate its Trelavour project near St. Austell, Cornwall, after metallurgical tests resulted in the production of nominal battery-grade lithium hydroxide. The company had been testing the environmental acceptability of the Trelavour project for two years, he said. METALS AND MINING TOP NEWS. From laws preventing women working in specific jobs, to stereotyping of gender roles and abilities, historically the metals and mining sectors were inhospitable environments for women to enter and progress careers. U.S. coal mining jobs sunk to record lows, and the mining sector in general has hemorrhaged jobs since the start of the coronavirus pandemic. The 1.63% spread on Dec. 11 with the forward midpoint was the narrowest to the physical spot price since January. But in the case of key steelmaking raw material iron ore, analysts, consultants and industry experts, and often market players themselves, have consistently got the price outlook wrong—typically on the low side. GMA- Lifetime Achievement Award: Rannveig Rist. The consumption of aluminium in Russia may decline by at least 30% this year, compared... Africa-focused miner Centamin has announced plans to invest some US$595 million in its Sukari gold... Metso Outotec is reorganizing its Metals business as part of the earlier announced turnaround program.... Golden Birch Resources Inc. More Interest Rate Drops Possible:BoC . Dec 10, 2020 Omineca Announces the Commencement of Dewatering at Wingdam. NEW YORK, Dec. 4, 2020 /PRNewswire/ -- Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals and Mining … It is planning to immediately proceed towards bulk metallurgical testing and the construction of a pilot plant using the so-called L-Max and LOH-Max technologies. China’s central government has tried to contain house price rises by tightening credit conditions. Even the most sophisticated “all-singing, all dancing” supply-demand model cannot account for a myriad of imponderables. It is also important to highlight the additional layer of discrimination faced by many women because of their ethnicity, a challenge mentioned by some of our interviewees. email@example.com, International news within the industry of mining and metal, Dec, 18 2020, Norway ready to increase production of vanadium and phosphates in years to come, Russian coal producers ready to withdraw Australian rivals from China, Finland may become a new center of gold production in Europe, Global diamond producers hope for recovery of market in 2021, Metso Outotec to modernize Norilsk Nickel’s smelting line in Russia. Most of the mooted new projects will probably get no further than the drawing board. The iron ore price on Singapore’s SGX and on the Dalian Commodity Exchange hit a record high, based on demand due to high Chinese steel production, and concerns about supply, Commerzbank analyst Daniel Briesemann said in a Dec. 11 report. Some analysts feel iron ore prices have been spurred on by recent speculative demand, and stronger trade in derivatives around changes in forward iron ore supply and economic policies that may support steel demand. It would be hysterical to say such an important industry is in the “last chance saloon” with investors—but the fate of outgoing Rio Tinto CEO JS Jacques shows the level of scrutiny the sector is now under. However, scarcity of supply remains a concern as demand recovery across sectors resurfaces after a long period of subdued activity. Rio Tinto has been beset by operational issues this year, and has downgraded its full-year production guidance more than once. Metals & Mining Review is one of the topmost business and technology magazine in the Metals & Mining industry which shares the latest technology news, articles and trends in Metals & Mining Field. The World Economic Forum’s (WEF) Mining and Metals Blockchain Initiative has launched a proof of concept for its Carbon Tracing Platform, named the COT. Santiago, Chile — Lundin Mining is assessing the feasibility of a restart of operations at its Candelaria copper mine in northern Chile after workers voted to end a month-long strike at the operation, the company said. They also stand as examples of what is possible in sometimes extremely challenging circumstances, suggesting even greater possibilities if the current barriers to working in the industry continue to be steadily demolished. Following on from the above point, there are a number of significant mine replacement projects due to start in the Pilbara region of Western Australia. Damage to facilities is not uncommon. Bumper profits incentivized Chinese mills to build new capacity and lift output. Singapore — High iron ore market prices seen in recent months are expected to continue into the first quarter of 2021, supported by strong Chinese steel output, according to the latest S&P Global Platts Iron Ore & Steel Outlook. Opinion 15 December 2020 Faster decarbonisation and mining: a crisis of confidence or capital? As the industry continues to adapt and respond to the COVID-19 pandemic, thought leadership, market transparency, and a forum to network all have become more critical than ever. “However, we believe that the price rise has long been exaggerated,” Briesemann said. S&P Global Platts is very pleased to bring you the Aluminum Virtual Symposium 2021. Monitor the latest mining trends with our proprietary research reports covering exploration, development, production, mine cost analysis, M&A, finance, and commodity market forecasts. The Platts 62% Fe iron ore fines benchmark has risen 30% since the start of November, hitting a seven-year high of $160.70/mt CFR North China on Dec. 11. While quotas seem to have limited appeal, a number of the interviewees talked about the importance of measurable targets and comprehensive training, including in unconscious bias awareness. Just 23% saw their iron ore needs declining in Q1, the Outlook found. Yes, there are mine replacement in Western Australia projects (more on this later), and Fortescue’s new Iron Bridge magnetite project. Vice Chairman, Metals & Mining. Some 62% of participants said iron ore prices would remain above $120/mt CFR China in Q1, with a further 26% seeing them in the $110-$120/mt range. “I can understand why quotas and metrics are put in place, but more is needed to drive the right change in behavior for the long-term,” said World Coal Association CEO Michelle Manook, adding that more is needed in terms of alignment across corporate strategy, culture and leadership. On the day this blog was written, the S&P Global Platts IODEX 62% Fe benchmark stood at $160.70/mt CFR China, 70% higher on the year before. “Given South Africa’s transition to liberation during the early part of my career, I also had to deal with racial discrimination – being designated as a previously disadvantaged person in regulation was disadvantageous at times as there was the perception that my opportunities were “given” and not “earned”,” said former Vedanta executive Deshnee Naidoo. Most of the leaders interviewed expressed optimism for the metals and mining industries, however, pointing to concrete changes that are taking place to encourage greater diversity in general. In the last four years, it has managed to raise the overall proportion from 17.6% to 24.5%. While Cornish Lithium advances development of Trelavour, Wrathall said it would continue in parallel with its project to extract lithium from its geothermal water project in Cornwall. Britain's last tin mine could reopen as tech companies chase ethical metals. As steel output recovers from weaker rates in the second quarter, and China reduces steel and metallics imports and reassumes net export steel trade, spot steel prices may start to fall back, a steel mill source said. Cornish Lithium CEO Jeremy Wrathall told journalists on a phone call Lepidico had already invested A$27 million ($20 million) in the technology to be used over six or seven years. Commodity forecasting is a difficult business at the best of times. Gain vital insights into the metals supply chain, commodity market and the latest mining developments. Manufacturing has recovered strongly in recent months and global supply chains have been restored, helping China’s exports to resume. But here’s why I think an overly bearish outlook on medium-term prices may be wrong: There is little in the way of meaningful net new supply guaranteed to hit seaborne markets in the next 2-3 years. The most-recent ETF launched in the Metals & Mining space was the Amplify Lithium & Battery Technology ETF BATT in 06/06/18. Mobile App Our Services News publishing, tag articles Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411 This is therefore merely a personal view based on observing the market closely for almost 13 years. Anglo American Kumba has said annual port and rail maintenance at its South African operations will see it achieve the lower end of its production guidance this year. Granted, there is always a […]. Tyck till! The iron ore forward market has always been in backwardation, below spot physical prices. These can include weather events and environmental factors, operational outages and disasters, government policy changes (especially in China)—and heavens above, a global pandemic. The investment portfolio of the trust includes equity securities of metals and minerals mining and exploration issuers." Allseas acquires Vitoria 10000 for an innovative marine project. “The UK is now the poster child for environmental sustainability, and critical to that is having access to the raw mat such as lithium for the batteries that will allow our transition to an electric, renewable future,” Wrathall said. With India’s domestic steel prices touching decade high numbers, steelmakers have exited the export markets for good. As such, housing sector growth is expected to be flatter in 2021. In the meantime, established mills such as Vietnam’s Hoa Phat are adding blast furnaces. Read the latest gold prices as well as short and long-term forecasts for other key metals. In February, we will discuss the industry’s response to the pandemic as well as evolutions in the marketplace and reverberations from the 2020 U.S. election. Many of the miners have now put in place measures to ensure rigorous consultation with traditional owners and First Nation communities. The midpoint value is typically 2%-5% lower than the underlying spot physical price. Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals and Mining … Bill Matlack Tuesday December 15, 2020 15:25. More than a third of respondents believed their iron ore requirements would increase in Q1, while 42% thought they would stay the same as in the current October-December quarter. Further, the iron ore hubs of Australia and Brazil happen to be located in regions that suffer cyclones and heavy rains every year. Commodity news in metals, mining and supply & demand. Fortescue’s new 30 million mt/year capacity Eliwana mine has just produced its first ore. Next year, Rio Tinto will start its new 43 million mt/year Koodaideri mine to keep up its flagship Pilbara Blend product, as supply at older mines is depleted. “We wonder how long Chinese iron ore consumers will simply sit back and accept the high prices,” Commerzbank said. Recent positive moves to achieve equal opportunities in the sector are also plentiful. Metals and Mining Review, the Best source for industrial news, top metal and mining business and technology updates, news on technology implementation in Industries and corporate news and also lists the latest product released in metal mining industry. The party was over! The technologies will allow for the development of low-carbon extraction of lithium from zinnwaldite and polylithionite mica ores in the St Austell region. Many of the women described the discrimination they faced in entering particular jobs or progressing their careers, with several mentioning superstitions that even recently prevented women from working underground. Cornish Lithium said it had acquired a license for Lepidico’s technology and had also signed a collaboration agreement with Lepidico to further develop them. Forecasts are not carved in stone, of course, and are subject to revisions as market conditions change and new information emerges. Some 62% of participants said iron ore prices would remain above $120/mt CFR China in Q1, […]. Will India’s domestic market continue showing strength in the near term and break further records? S&P Global Ratings includes ESG factors in its criteria for evaluating companies and they are likely to play a larger role over time. Fortescue also has plans to lift capacity at Port Hedland by an additional 20 million mt/year, while BHP has similar plans to increase throughput at the port. Above all, the experiences and viewpoints shared in the following interviews represent a range of exceptional achievements – both personal and collective – that should be celebrated. In 2019, China produced 996 million mt of crude steel and this year the 1 billion mt mark will be breached. Metals and Mining News. Collectively, their careers span almost every continent and a wide variety of roles and products. Metals & Mining ETF News Features and News Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry. METALS AND MINING NEWS. 16/12/2020 - 16:49. Jakob Stausholm will have to rebuild Rio’s reputation following an international outcry over its destruction of sacred Aboriginal rock shelters. Investors have walked away from thermal coal, and many are snubbing metallurgical coal. LONDON--(BUSINESS WIRE)--The metals and mining industry is plagued with various challenges, and companies need to adopt new strategies to … The demand side of iron ore will remain extremely strong – and it won’t just be coming from China (see below). Investors back overhaul of Australian mining sector following caves inquiry Wed, Dec 9th 2020 JPMorgan says gold will suffer as institutional investors buy into bitcoin “This potentially gives the UK security of supply.”. Mining news and research that's as smart as you. It includes questions on workforce diversity and gender pay gap. At this stage, Platts does not provide a formal iron ore price forecast. News and opinion on metals used in electric vehicle and energy storage batteries including cobalt, vanadium, lithium, graphite and nickel. BHP in 2016 set a goal to achieve 50% female participation across its workforce by 2025. As it turned out, Rio Tinto and BHP were 5-10 years too late in their predictions. The event at a glance As the industry continues to adapt and respond to the COVID-19 pandemic, thought leadership, market transparency, and a forum to network all have become. Iron ore futures have seen higher relative pricing to physical indexes in recent days. Mining & Metals Investment News: Metals headlines & expert mining blogs from hundreds of sites; Unique to Metals News: CEO, Expert & Company articles. Given the recovery in other steel markets, China’s finished steel exports are tipped to increase next year. So much for low prices! @plattsshipping: #COVID19 has sent seismic waves through global #trade. Consolidation in the carrier... PlattsOil: Risk and governance: Essential insight, visionary solutions..... APPEC goes virtual. Metals Headlines PRECIOUS-Gold climbs on U.S. stimulus hopes post Fed statement Gold rose on Wednesday on prospects for more stimulus measures after the … Cornish Lithium said Dec. 7 the tests were carried out using fellow lithium explorer Lepidico’s proprietary technology on samples obtained during a hard rock drilling program this year within an existing open china clay pit at Trelavour. In 2019, out of 66 companies belonging to the steel or metals and mining sectors that provided information on their workforce gender split, total female participation ranged from 3% to 29%. As part of the MMBI initiative, the companies will pool resources and cost, as well as improve industry-wide trust, which cannot be achieved by acting individually. “In response to prolonged and pronounced price rises in the past, they have tended to resort to the ample but lower-quality domestic iron ore, using their market power to force prices down.”. Russia reduced exports of non-ferrous metals in January-October. Meanwhile, Trump administration policy objectives that could fuel domestic demand for metals, such as an infrastructure program, have yet to manifest. Agriculture, Energy Transition, LNG, Gas & Power, Shipping, Refined Products, Metals & Mining. RF reduced gold production in January-September by 0.6% - Union of Gold Producers. While relatively few of the companies surveyed volunteered private information on their executive remuneration ratios, based on the 20 that did respond, on average male executives across the two sectors earned 21% more than females. 2020 News Releases. On Dec. 14, the forward midpoint backwardation had widened to 1.99%. A more careful and diligent approach to developing and expanding iron ore mines could see longer project timelines. There’s not much point building ambitious volumes into a supply-demand model when companies keep missing their current year targets. Most analysts see them dropping by roughly $5-$10/mt each year over the next four years, to an average of $95/mt in 2021, $85/mt in 2022, $$75/mt by 2023 and $70/mt in 2024. Hundreds of affiliate Metals Sites that focus on precious metals, base metals, rare earth metals, steels and more. Vale, the biggest iron ore miner, this month cut production guidance for 2020, while industry sources see strong iron ore demand in China, and tight pellet availability keeping near-term prices up. Cleaner sectors have growing investor appeal, which is one reason for the current buzz around hydrogen. Q1 is also the period when adverse weather conditions impact iron ore operations in Australia and Brazil, resulting in lower export volumes. Will the majors maintain overall production and export volumes as new operations are brought online? Steel mills could reduce iron ore pellet demand in the first quarter in response to higher prices and premiums, especially where they can use more lump, or opt to use more sinter, market sources said. The SAM CSA, managed by S&P Global, is an annual evaluation of companies’ sustainability practices and focuses on criteria that are financially material, applying 61 industry-specific approaches and asking companies on average 100 detailed questions. Listen: Are high Indian steel prices an outcome of supply shock or is a demand revival a reality? ... Metals & Mining analysts' ratings & estimates - senior. India’s Tata Steel aims to have 25% women in its workforce by 2025, compared with 17% currently, according to its latest annual report. “What is more, it is likely to have been driven to a large extent by speculation.”. Answering Mining's Big Questions. SASKATOON, SK – December 10, 2020 – Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company"), announces that it has commenced dewatering and decline rehabilitation activities at the Company’s underground placer gold project at Wingdam in the Cariboo Mining District of south-central British Columbia. Newmont chair of the board of directors, Noreen Doyle, noted the importance of providing well-fitting protective clothing so that women feel part of the team, while Moore praised initiatives in Papua New Guinea to regularly assess risks and hazards to women in mines, and conduct annual audits to make sure women are safe. Cornish Lithium was fast tracking the project and path to commercial production in line with the UK government’s initiative to bring forward its electric vehicles targets to 2030 from 2035, according to Wrathall. S&P Global Platts Asian Steel Markets Editor Ashima Tyagi discusses these issues and more with Head of APAC Metal Insights Paul Bartholomew. Members of the Candelaria AOS union voted to accept the latest offer from management on November 19, ending a […] 16/12/2020 - 18:20. In fact, Rio Tinto and BHP have both flagged maintenance work in calendar Q4 as being likely to impact iron ore production. 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