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☆ Alcoa to buy Australian partner Alumina in $2.2 billion all-stock deal
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +1 min

The Alcoa Corp. Kwinana Alumina Refinery in Kwinana, Australia, on Wednesday, Feb. 28, 2024. U.S. aluminum producer Alcoa made a $2.2 billion offer to acquire its Australian joint-venture partner Alumina Ltd. to consolidate ownership of key upstream assets with long-term demand for the metal forecast to rise. Alcoa will buy Alumina in an all-stock deal that values the Australian firm at $2.2 billion and make the U.S. company one of the world's largest producers of alumina and bauxite. Shares of Alumina rose as much as 10.4% after Alcoa announced the deal on Monday, hitting their highest since August 2023. Buying Alumina gives Alcoa full control of their joint venture, which is one of the world's largest producers of the semi-processed form of aluminum.

Persons: Alcoa Organizations: Alcoa Corp, Alcoa, U.S . Locations: Kwinana, Australia, U.S, China, United States

☆ Fort Smith, Canada plane crash: Fatalities reported including Rio Tinto employees in Northwest Territories
▼ + stars: | 2024-01-23 | by ( Sara Smart | Aya Elamroussi | ) edition.cnn.com time to read: +3 min

In response to the crash, Fort Smith Health Centre activated its mass casualty protocol around 8:50 a.m. on Tuesday, according to Northwest Territories Health and Social Services Authority. The crash also drew responses from the Royal Canadian Mounted Patrol, the Canadian Rangers and the Royal Canadian Air Force. Investigators with the Northwest Territories coroner’s office and the Transportation Safety Board were also sent to Fort Smith following the crash. Following the crash Tuesday morning, Fort Smith officials asked to stay away from the crash site to allow officials to respond. “Please be advised that an aviation incident occurred this morning,” the town of Fort Smith said in a post on Facebook.

Persons: Fort Smith, Garth Eggenberger, R.J, Simpson, David Lavallee, Lavallee, ” Organizations: CNN, Rio Tinto, Northwest, “, Fort Smith Health Centre, Northwest Territories Health, Social Services Authority, Royal Canadian Mounted Patrol, Canadian Rangers, Royal Canadian Air Force, Transportation, British Aerospace Jetstream, Northwestern Air Lease, Board of Canada, Northwestern Air Lease’s, RCAF, CNN Canada, CBC News, CC, Hercules, RCMP, CBC, Fort, Facebook, Royal Canadian Mounted Police, TSB Locations: Canada’s Northwest Territories, Fort, Rio, Northwest Territories, Winnipeg, Otter, Yellowknife, Trenton, Calgary

☆ Mining Industry Seeks to Define One Global Standard for Ethical Practices
▼ + stars: | 2023-11-23 | by ( Yusuf Khan | ) www.wsj.com time to read: +6 min

Customers and investors are increasingly considering mining companies’ ESG performance. Photo: douglas magno/Agence France-Presse/Getty ImagesMining giant Anglo American is one of the companies that have been involved in developing the new mining standard. Anglo American itself commits to at least nine different mining standards and is part of 17 industry associations, which all have their own requirements. The LME has been consulted on the development of the new mining standard. For now, work continues on the new mining standard, with the four associations still discussing what it should look like and how it would be governed.

Persons: Cynthia Matonhodze, ”, “, Tracey Kerr, douglas magno, Rebecca Campbell, ” Campbell, Campbell, Paul Hackett, Georgina Hallett, Yusuf Khan Organizations: Bloomberg, International Council, Mining, Metals, Gold Council, Mining Association of Canada, Miners, Business, Global Investor Commission, ING, Jubilee Metals Group, Hochschild, ” Mining, Agence France, Getty, White, London Metal Exchange, REUTERS Locations: Umguza, Zimbabwe, Dutch, Brazil, London, Brumadinho, American, ”

☆ Rio Tinto to pay $28 million fine to settle US SEC fraud case
▼ + stars: | 2023-11-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

The Rio Tinto logo is displayed above the global mining group's booth at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 7, 2023. Former chief executive Tom Albanese agreed to pay a $50,000 civil fine to settle related SEC claims. Neither he nor Rio Tinto admitted wrongdoing. Rio Tinto confirmed the settlement but declined additional comment. The case is SEC v Rio Tinto Plc et al, U.S. District Court, Southern District of New York, No.

Persons: Chris Helgren, Analisa Torres, Rio, Tom Albanese, Rio Tinto, James Loonam, Guy Elliott, Torres, Riversdale, Albanese, Theodore Wells, Wells, Jonathan Stempel, Bill Berkrot, Rosalba O'Brien Organizations: Rio Tinto, Developers Association of Canada, REUTERS, U.S . Securities, Exchange Commission, U.S, District, SEC, Rio Tinto Coal, Tinto, Court, Southern District of, Thomson Locations: Rio, Toronto , Ontario, Canada, U.S, Mozambique, Manhattan, Rio Tinto, Rio Tinto Coal Mozambique, Southern District, Southern District of New York, New York

View of the Cobre Panama mine, of Canada's First Quantum Minerals, in Donoso, Panama, December 6, 2022. Panama has a long mining history but Cobre Panama is the first major new investment this century. There are now calls not just for the Cobre Panama mine to be closed but for Panama to shun all future mining as well. By the time detailed negotiations on a new contract started in 2021, the mine was already ramping up to full production. The tale of Cobre Panama is an object lesson in getting it wrong.

Persons: El Salvador, Rosalba O'Brien Organizations: Minerals, REUTERS, Aris, Quantum, Environmental, Panama's, Justice, Supreme, Canada, Swedish Sámi Association, European Union, Reuters, Thomson Locations: Panama, Donoso, Rincon, Cobre Panama, Canada, American, Europe, Serbia, Scandinavia, Russia, Panamanian

☆ Rio Tinto cuts Canada iron ore production estimate on extended plant outage
▼ + stars: | 2023-10-16 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

REUTERS/Chris Helgren/File PhotoThe world’s biggest iron ore producer expects an iron ore output of 9.3 million to 9.8 million tons (mt) from its Iron Ore Company of Canada (IOC) business, down from 10.0 to 11.0 mt previously projected. Rio reported a 1.2% rise in its third-quarter iron ore shipments, as it ramped up production at the Gudai-Darri mine. It shipped 83.9 mt of iron ore from Pilbara in the September quarter, compared with 82.9 mt a year earlier. The miner, which generates 70% of its profit from its iron ore operations, saw prices of the commodity improve as top consumer China stepped up its stimulus efforts. Rio realised a 5% increase in mined copper output to 169,000 tons, reflecting a ramp-up of high-grade underground Oyu Tolgoi mine and higher feed grades at Escondida.

Persons: Chris Helgren, Rio, ”, Kyle Rodda Organizations: Reuters, Rio Tinto, Developers Association of Canada, REUTERS, Iron Ore Company, Canada, IOC, “, Capital.com Locations: Rio, Toronto , Ontario, Canada, Northern Quebec, Pilbara, China, Escondida

☆ The world will pay a high price if China cuts off supplies of chipmaking materials
▼ + stars: | 2023-10-11 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Last year, it accounted for 98% of the global production of gallium and 68% of refined germanium production, according to the US Geological Survey (USGS). “Refining technologies and facilities for processing gallium and germanium cannot be built overnight, particularly considering the environmental implications of their extraction and mining,” she wrote in July. Analysts from the think tank said China’s leading position in the aluminum industry has allowed it to establish a dominant share of global gallium production. According to the USGS, Russia, Japan, and Korea produced a combined 1.8% of global gallium in 2022. Last year, the US Defense logistics Agency introduced a program to recycle optical-grade germanium used in weapon systems.

Persons: Hong Kong CNN —, ”, Xiaomeng Lu, Marina Zhang, Zhang, Ewa Manthey, haven’t, Chris Miller, Gregory Allen, Nyrstar, ” Lu, Manthey Organizations: Hong Kong CNN, geotechnology, Eurasia Group, China, Geological Survey, University of Technology, “, ING Group, Center for Strategic, International Studies, Washington, Analysts, Corporation, CNN, Global, Wadhwani Center, AI, Technologies, CSIS, Rostec, Reuters, US Defense, Agency, Commerce Ministry Locations: China, Hong Kong, Beijing, United States, Europe, Japan, University of Technology Sydney, Kazakhstan, Hungary, Germany, Russia, Korea, Teck, American, Netherlands, Australia, ” Lu, Eurasia, Canada

Used copper wires are seen in a recycling company in Thoerishaus near Bern July 3, 2011. Copper producers increasingly want to share the risk and costs of projects, and the sector has already seen a jump in M&A activity, which more than doubled year-on-year to $14.24 billion in 2022. Miner and trader Glencore (GLEN.L) has been approached by potential investors in its Argentine copper projects Minera Agua Rica Alumbrera (Mara) and El Pachon, two sources said. According to Argentine government data, the projects could produce a combined 435,000 tonnes of copper a year. Both sources declined to be named because the information is not public.

Persons: Ruben Sprich, Glencore, Mara, El, Canada's Lundin, Jack Lundin, Lundin, Hudbay, EY, Paul Mitchell, Farid Dadashev, Clara Denina, Divya Rajagopal, Julian Luk, Veronica Brown, Jan Harvey Organizations: REUTERS, Sumitomo Metal Mining, Sumitomo, Reuters, BHP Group, BHP, Santo Domingo, Hudbay, Capstone, Taca Taca, Global Mining, Metals, RBC Capital Markets, Thomson Locations: Thoerishaus, Bern, Miner, Agua Rica, Argentine, Josemaria, Chile, Santo, Arizona, Rio Tinto's, Peru, Argentina

Mining operations account for some 4%-7% of global greenhouse gas emissions, according to global consulting firm McKinsey & Company. But some miners are moving to reduce use of fossil fuels in extracting and refining, partly due to pressure from downstream customers that want more sustainable supply chains. Located beside a crystal-blue lake in the lush jungle of Sorowako, South Sulawesi, Vale Indonesia — a subsidiary of Vale international — runs its smelters entirely from hydroelectricity. Other companies and countries around the world also are reducing use of fossil fuels in their mining operations. But now, having that infrastructure means big savings at a time when global energy prices are high.

Persons: Michael Goodsite, “, Joko Widodo, Widodo, “ Ford, ” Christopher Smith, Febriany Eddy, Eddy, it’s, ” Eddy, Aimee Boulanger, there’s, they’ve, ” Goodsite Organizations: McKinsey & Company, Vale, Companies, University of Adelaide, Volvo, Mercedes, Hyundai, Apple, Ford Motor Co, Vale Indonesia, Associated Press, Initiative for, Mining Assurance, —, AP Locations: SOROWAKO, Indonesia, Indonesian, Sulawesi, Sorowako, South Sulawesi, Indonesia —, Chile, Raglan, Canada, Australia, ” Indonesia, Vale Indonesia, China, United States

☆ Copper is critical to energy transition. The world is falling way behind on producing enough
▼ + stars: | 2023-09-27 | by ( Bob Woods | ) www.cnbc.com time to read: +8 min

watch nowIn the meantime, copper customers, in anticipation of shortages, are either delaying clean energy projects or reducing their need for copper, an economic principle known as demand destruction. Among other actions, it would dismantle most of the clean energy projects initiated by the Biden Administration. At that point, the consensus was that there would be a major copper supply response. That's presented the industry with a whole new era of copper demand, Adkerson said. China's economy has slowed, while those in the U.S. and Europe are striving to transition to clean energy.

Persons: Wood Mackenzie, Nick Pickens, we've, we're, Tesla, eyeing, Rishi Sunak, Richard Adkerson, he's, Adkerson, That's, Clayton Walker, Matt Murphy, Murphy, Walker Organizations: Polska Miedz SA, Bloomberg, Getty, EV, P, International Energy Agency, Heritage Foundation, Republican, Biden Administration, Phoenix, Resources, Freeport, Afp, Rio, Barclays, Rio Tinto, Caterpillar Locations: Glogow, Poland, Wood, EVs, McMoRan, Freeport, China, U.S, Europe, Papua, Freeport's Indonesia, Rio Tinto, Mongolia, Salt Lake City , Utah, Indonesia, Rio

☆ Rio Tinto shoulders Simandou iron ore bill as Chinese funds delayed - sources
▼ + stars: | 2023-09-18 | by ( Clara Denina | ) www.reuters.com time to read: +3 min

The Anglo-Australian miner owns two of four Simandou mining blocks as part of its Simfer joint venture with China's Chalco Iron Ore Holdings (CIOH) and the government of Guinea, where the mine is located. CIOH is 75% held by Aluminum Corporation of China (Chinalco) and 20% by Baowu Steel Group, with China Railway Construction Corporation (CRCC) and China Harbour Engineering Company (CHEC) each holding 2.5%. Simandou's other two blocks are owned by the Winning Consortium Simandou (WCS), made up of Singapore-based Winning International Group, Weiqiao Aluminium - part of the China Hongqiao Group (1378.HK) - and United Mining Suppliers. Rio earmarked $800 million for its share of the development in 2023 and around $2 billion a year in 2024 and 2025. Reporting by Clara Denina; Additional reporting by Felix Njini and Amy Lv; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, CIOH, CHEC, Simandou, Raphael Gnambalamou, Clara Denina, Felix Njini, Amy Lv, Jan Harvey Organizations: Rio Tinto, Developers Association of Canada, REUTERS, Ore Holdings, CIOH, Aluminum Corporation of China, Baowu Steel, China Railway Construction Corporation, China Harbour Engineering Company, Weiqiao, China Hongqiao, HK, United Mining Suppliers, Thomson Locations: Rio, Toronto , Ontario, Canada, Simandou, Guinea, China, Singapore

A logo for TMX Group, which operates the Toronto Stock Exchange, is seen after the company announced it was shutting down all markets for the rest of the day after experiencing issues with trading on all its exchange platforms in Toronto, Ontario, Canada April 27, 2018. REUTERS/Chris Helgren/File Phoo Acquire Licensing RightsTORONTO, Sept 13 (Reuters) - Canada's main stock exchange operator, TMX Group, is urging companies seeking to list on its platform to accelerate their plans, a top exchange official said, citing an uncertain economy and next year's U.S. presidential election as factors shrinking the window of opportunity. McPherson said TMX has advised companies seeking to list that the "window of opportunity" for initial public offerings, when it opens, might be a short window of three to six months rather than a year. "There is a pipeline out there that's waiting for the right time to enter the market," McPherson said. In Canada the central bank has raised key interest rate to 22-year high of 5% to fight stubborn inflation.

Persons: Chris Helgren, Dean McPherson, McPherson, TMX, Divya Rajagopal, David Gregorio Our Organizations: TMX Group, Toronto Stock Exchange, REUTERS, Rights, TMX, Mining, Reuters, U.S, TSX, Thomson Locations: Toronto , Ontario, Canada, Ukraine, Russia

The Shabara mine in Congo. The country supplies around 70% of the world’s cobalt. Photo: junior kannah/AFP/Getty ImagesThe U.S. and Saudi Arabia are in talks to secure metals in Africa needed for both countries’ energy transitions, as the White House tries to curb China’s dominance in the electric-vehicle supply chain and the kingdom looks to buy $15 billion in global mining stakes, said people with knowledge of the talks.

Organizations: Getty, White House Locations: Congo, AFP, Saudi Arabia, Africa

Singapore's Abaxx Commodities Exchange thinks a new nickel sulphate contract could be the answer. The sulphate market has been forecast by research house Roskill to grow at an annual rate of 22% over the current decade as the green mobility revolution accelerates. China's imports of nickel sulphateTRADE BOOMChina's surging imports of nickel sulphate are a reflection of the product's stunning growth as battery cathode input. China's nickel imports by product 2020-2023PRICING PROBLEMSNone of this new Indonesia-China nickel trade has a natural exchange pricing home. LME nickel trading volumes have stabilised but are still running significantly below levels seen prior to the March 2022 trading halt.

Persons: Antara, It's, Roskill, Mike Harrison Organizations: PT Vale Indonesia, REUTERS Acquire, London Metal Exchange, Abaxx Commodities, Canadian, Technologies, Shanghai Futures Exchange, EV, Imports, China's, Class, Global Commodity Holdings, Reuters, Thomson Locations: Sorowako, South Sulawesi, Indonesia, China, Finland, South Africa, South Korea

☆ Indian interlopers can disrupt global mining M&A
▼ + stars: | 2023-08-25 | by ( Pranav Kiran | ) www.reuters.com time to read: +3 min

BENGALURU, Aug 25 (Reuters Breakingviews) - An Indian tycoon has a powerful motive to throw himself into some global mining M&A. Sajjan Jindal is looking to pull together a consortium to take a 75% stake in the coal unit of Canadian miner Teck Resources (TECKb.TO), according to Bloomberg. Such a move would pit his $23 billion Mumbai-listed JSW Steel (JSTL.NS) against a rival $8 billion bid by Swiss commodities giant Glencore (GLEN.L). In North America, JSW already has steel plants in Ohio and Texas, and coal mining facilities in West Virginia. Anchoring a consortium bid makes sense but if push comes to shove, Indian tycoons can afford to be aggressive interlopers.

Persons: Sajjan Jindal, Jindal, JSW, Una Galani, Thomas Shum Organizations: Reuters, Teck Resources, Bloomberg, Tata Steel, Steel Authority of India, South, JSW, Elk Valley Resources, Deloitte, Chamber of Commerce, Thomson Locations: BENGALURU, Teck, Mumbai, India, JSW, Australia, Ukraine, North America, Ohio, Texas, West Virginia, Teck Resources, Elk Valley, Elk

"In the near term, while the outlook for the developed world is uncertain, we expect China and India to remain relative sources of stability for commodity demand," BHP said. "We anticipate that these competing forces may have a variable impact on commodity prices in the period." But perhaps more concerning is that China and India, the two major sources of commodity demand in Asia, are at best stable in their demand outlooks, and even then BHP qualified this with the word "relative." When it comes to China, BHP acknowledged the current struggles Beijing is having in re-igniting growth in the world's second-biggest economy and top commodity importer. BHP is more confident about India, stating that an investment upswing is happening in the world's most populated country, and commodity demand has been "robust."

Persons: BHP, Clyde Russell, Stephen Coates Organizations: BHP Group, BHP, Reuters, Thomson Locations: LAUNCESTON, Australia, China, India, Asia, Beijing, CHINA

[1/4] Chile's president Gabriel Boric looks on as newly appointed Mining Minister Aurora Williams signs a document during a cabinet reshuffle at the government house, in Santiago, Chile, August 16, 2023. Boric has suffered major legislative defeats in Congress, though his lithium reform largely does not require legislative approval. UPHILL BATTLEBoric has said he will send new bills to reform Chile's tax system, but would not insist on an original reform rejected last March. In his third cabinet reshuffle, Boric also named new ministers of culture, education, national assets and social development. Jackson will be replaced by Chile's National Assets Minister Javiera Toro.

Persons: Gabriel Boric, Aurora Williams, Rights SANTIAGO, Williams, Marcela Hernando, Michelle Bachelet, Boric, Codelco, Giorgio Jackson, Jackson, Minister Javiera Toro, Nicolas Cataldo, Marco Antonio Avila, Fabian Cambero, Natalia Ramos, Sarah Morland, David Alire Garcia, Nick Macfie, David Gregorio Our Organizations: Mining, REUTERS Acquire, Rights, Chile's National, Minister, Thomson Locations: Santiago , Chile, Handout

☆ Europe Is Embarking on a Mining Renaissance. Winning Over Locals Is Proving a Challenge.
▼ + stars: | 2023-08-10 | by ( Yusuf Khan | ) www.wsj.com time to read: +12 min

“It’s definitely a [mining] renaissance,” said Rebecca Campbell, global mining and metals lead at law firm White & Case. “We’re trying to foster a permitting landscape that is both efficient and responsible.”In Europe, the mining renaissance comes after years of nearly no new mining activity on the continent. Left: A layer of spodumene within the host rock that Savannah Resources intends to mine. Savannah Resources, which has set up two offices in the municipality, has said it would strictly avoid that and instead build reservoirs to store rain water. That view is echoed by Savannah Resources.

Persons: COVAS, Portugal —, Barroso, BEL, mina ”, ”, Nelson Gomes, Covas, Alex Gorman, “, Nelson, YUSUF KHAN, “ It’s, Rebecca Campbell, ” “, Jayni Hein, Hein, “ We’re, Peel Hunt’s Gorman, Dale Ferguson, Gomes, Jessica Polfjärd, Polfjärd, Ana Fontoura Gouveia, Fontoura, ” Fontoura, Yusuf Khan Organizations: COVAS DO BARROSO, Associação, Peel, Vulcan Energy Resources, Adriatic Metals, White, Covington, Burling, Environmental, Council, Savannah Resources, Sustainable Business, Sweden’s Moderate Party, Serra Locations: Portugal, Porto, Boticas, Covas, It’s, Europe, Germany, Sweden, Bosnia, Finland, Greece, U.S, Savannah, London, spodumene, Serbia, China, yusuf.khan

☆ Saudi Arabia's Ma'aden to acquire 10% of Brazil base metals firm - statement
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +1 min

DUBAI, July 30 (Reuters) - Saudi Arabian Mining Company (1211.SE), known as Ma'aden, has agreed to acquire a 10% stake in Brazil's base metals company Vale, it said in a bourse statement on Sunday, as part of a strategy to invest in global mining assets. Ma'aden, through Manara, its joint venture established with the Public Investment Fund, on Thursday signed a binding agreement to acquire the 10% stake in Vale Base Metals, based on an enterprise value of $26 billion. "Manara’s investment into Vale will play a key role in helping it expand the production of copper and nickel across its asset portfolio, which are critical to the development of new technologies that will benefit the global energy transition," the company statement said. The transaction, which will be financed by Ma'aden's own resources, is subject to regulatory approvals and expected to be completed in the first quarter of 2024. Reporting by Rachna Uppal; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

Persons: Rachna Uppal, Angus MacSwan Organizations: Saudi Arabian Mining Company, Public Investment Fund, Vale Base Metals, Vale, Thomson Locations: DUBAI, Saudi, Manara

☆ Analysis: Peru copper miners say red tape snarling red metal production ramp-up
▼ + stars: | 2023-07-07 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

[1/5] Trucks from the Las Bambas mine circulate along the mining corridor between Sayhua and Ccapacmarca, near Ccapacmarca, Peru, January 19, 2022. REUTERS/Sebastian Castaneda/File PhotoLIMA, July 7 (Reuters) - Copper miners in Peru, already battling political uncertainty and regular protests, say they have another hurdle to revving up stalled production of the red metal: too much red tape. 2 copper producer, has seen output plateau in the last five years as political instability, revolving governments and flagging investment has let rival producer Congo almost overtake it. 1 producer Chile has also seen production slide, dented by political uncertainty around taxes and regulation. Until that happens, mining executives said Peru's $53 billion mining investment pipeline, largely copper, would only move forward slowly, despite government hopes that some $7 billion of that being unlocked in 2023 and 2024.

Persons: Sebastian Castaneda, LIMA, Raul Jacob, Jorge Soto, it's, Víctor Gobitz, Tia Maria, Marco Aquino, Adam Jourdan, Sandra Maler Organizations: REUTERS, Congo, Reuters, World Bank, BHP, Newmont Corp, Thomson Locations: Sayhua, Ccapacmarca, Peru, Lima, Chile, Canada, Mexico

In 2022, top importers of China's gallium products were Japan, Germany and the Netherlands, news website Caixin said, citing customs data. Top importers of germanium products were Japan, France, Germany and the United States, it said. The buyers were anticipating it could take as long as two months to obtain export permits. Jefferies analysts said they saw the export controls as China's second and bigger countermeasure after the Micron ban. "If this action doesn't change the U.S.-China dynamics, more rare earth export controls should be expected."

Persons: Peter Arkell, Jeffries, Janet Yellen, Arkell, Caixin, Morris Young, Roy Lee, Amy Lv, Brenda Goh, Siyi Liu, Kentaro Sugiyama, Joyce Lee, Ben Blanchard, Melanie Burton, Tom Hogue Organizations: China, Companies, Global Mining Association of China, U.S, AXT Inc, Micron, Jefferies, ., Thomson Locations: China, Beijing BEIJING, SHANGHAI, United States, Washington, Beijing, Japan, Germany, Netherlands, France, Europe, Taiwan, South Korea, Yunnan, Shanghai, Tokyo, Seoul, Taipei, Melbourne

☆ What people are saying about China's chipmaking export controls
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +2 min

July 4 (Reuters) - China will control exports of some metals used in the semiconductor industry, ramping up a technology war with the United States and potentially causing more disruption to global supply chains. PETER ARKELL, CHAIRMAN OF GLOBAL MINING ASSOCIATION OF CHINA:"It hardly comes as a surprise that China would respond to the American-led campaign to restrict China's access to microchips. With roughly 90% of global production of these minor metals, China has hit the American trade restrictions where it hurts. It is a fantasy to suggest that another country can replace China in the short or even medium term." "Offer prices in the domestic market and the export market have increased to 10,000 yuan ($1,380) per kg and over $1,500 per kg, respectively."

Persons: KAZUMA KISHIKAWA, I've, PETER ARKELL, STEWART RANDALL, Kentaro Sugiyama, Amy Lv, Brenda Goh, Anne Marie Roantree, Tom Hogue Organizations: DAIWA, OF, OF CHINA, WHO, BE, Thomson Locations: China, United States, Japan, U.S, Netherlands, SHANGHAI, CHINA, Europe, Tokyo, Beijing, Shanghai

☆ Anglo-French deal could create Europe’s biggest lithium producer
▼ + stars: | 2023-06-29 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A French minerals company is buying a British startup in a tie-up that could produce enough lithium carbonate to power 500,000 electric vehicles a year. That year is important as Britain is set to ban the sale of new petrol and diesel vehicles in 2030, forcing manufacturers to switch to electric vehicles. The combination of the new facility and an existing one in France “would make Imerys the largest integrated lithium producer in Europe, representing more than 20% of the announced European lithium output by 2030,” the company said. They will require that 45% of the value of electric vehicles traded between Britain and the European Union are sourced from one of the two regions in order to avoid costly tariffs. The deposit of lithium being developed there is set to be the largest in the country, according to Imerys.

Persons: that’s, Imerys, France “ Organizations: Hong Kong CNN, European, Peugeot, Fiat, Industry Locations: Hong Kong, Paris, British, Cornwall, England, Britain, France, Europe, European Union, English

☆ The 8 stocks most favored by a fund manager who beat 93% of his peers last year, plus the 4 indicators that he says could signal a downward turn in 2023's stock market rally
▼ + stars: | 2023-06-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Michael Cuggino, the president and portfolio manager of the Permanent Portfolio Family of Funds, says the current economic situation is a tale of two sides. The firm has two fixed-income funds, an aggressive growth equities fund, and a diversified fund known as the Permanent Portfolio that has been around since 1982. Last year, the permanent portfolio fund outperformed 93% of similar funds, according to Morningstar data. So far this year, it has been the growth stocks that are benefiting. The top four signals he's keeping an eye on are, first, a rapid increase in the unemployment rate, which would hit consumer spending and permeate other parts of the economy.

Persons: Michael Cuggino, Cuggino, It's, it's Charles Schwab Organizations: Federal, Morningstar, Companies, BHP Group, Exxon, Chevron, Nvidia, Broadcom, Apple Locations: Freeport, McMoRan, Australia

☆ A ‘Dirty’ Job That Few Want: Mining Companies Struggle to Hire for the Energy Transition
▼ + stars: | 2023-06-01 | by ( Yusuf Khan | ) www.wsj.com time to read: +10 min

Despite their part in the energy transition, mining companies face a perception of being in a “dirty” industry thanks to a legacy of mining disasters and accusations of worker exploitation and sexual assault. Canada’s mining and mineral-engineering enrollment was down 10% in 2020 compared with 2016, according to Canada’s Mining Industry Human Resources Council. SHARE YOUR THOUGHTS What message should mining companies deliver to young workers to attract them to the industry? Mining companies also face accusations of exploitation of local workforces. She hopes that younger workers will help mining companies evolve, taking on more social responsibility and improving their mining practices.

Persons: Lily Dickson, Mawson, ”, Alex Gorman, Peel Hunt, Rohitesh Dhawan, Alex Gorman “, Gorman, “, Haydon Mort, Stacy Hope, Cole Burston, Hope, Codelco, Centamin, Martin Horgan, Mort, Geologize, Jamie Kelsey Fry, Dickson, Yusuf Khan Organizations: University of Leeds, Leeds, Rio Tinto, McKinsey, U.S . National Center for Education Statistics, Canada’s Mining, Resources Council, Peel, International Council, Mining, Metals, Tinto, of Labor Statistics, Australian Bureau, Statistics, Geologize Ltd, BHP, . Workers, Bloomberg, Codelco, Chilean, Walmart, Recruiting, Centamin, Sustainable Business, “ Locations: Finland, Vancouver, Europe, U.S, Australia, Rio, South Africa, Lily Dickson Canada, Botswana, “, Saharan Africa, Ontario, Canada, Chile, Africa, Congo, Ghana, Zimbabwe, yusuf.khan

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