Monthly Archives: January 2016

How to explain China’s surprising #Metals trade figures?

(The opinions expressed here are those of the author, a columnist for Reuters.) By Andy Home Jan 28 China set two notable records last year in terms of its metals trade with the rest of the world. It exported record amounts of aluminium in the form of semi-manufactured products, a sign of domestic market glut that no-one seems to think is going to end any time soon. But the country also imported more refined … Continue reading

Posted in Metal Marketing, News | Comments Off

Freeport Indonesia’s Export Permit Expires Without Extension

Freeport’s Grasberg mine in Indonesia didn’t get renewal Government has asked for $530 million deposit toward smelter Freeport-McMoRan Inc. said one of the world’s biggest copper and gold mines continues to operate normally after its export license expired without an extension being granted by the Indonesian government. Mining and milling operations remain normal at the Grasberg deposit in Papua province, Riza Pratama, a spokesman for PT Freeport Indonesia, the company’s local unit, said by … Continue reading

Posted in News | Comments Off

CVMR Corporation and Central America Nickel Inc. Announce Major South American Nickel Partnership

TORONTO, CANADA, Jan 28, 2016 (Marketwired via COMTEX) — CVMR Corporation (CVMR) of Canada and Central America Nickel Inc. (CAN) are pleased to announce that they have entered into an agreement whereby CVMR, using its proprietary chemical vapor metallurgy technology will be concentrating 3 million tons of ore per year in Guatemala and refining the concentrate in Oak Ridge, Tennessee, through CVMR (USA) Inc., from CAN’s Santa Anita property in Guatemala. INCO of Canada … Continue reading

Posted in Metal Marketing, Mining, News | Comments Off

Indonesia: Higher royalties sought from state Miners

The State-Owned Enterprises Ministry is looking to book higher royalty incomes from state-run miners this year, despite unfavorable commodity prices that put pressure on the financial performance of mining firms last year. The ministry wants mining royalties paid to the government to increase by about 16 percent from Rp 1.23 trillion (US$885.6 million) last year to Rp 1.45 trillion this year, according to Fajar Harry Sampurno, the ministry’s assistant for mining, strategic industry and … Continue reading

Posted in Mining, News | Comments Off

CHART: Stop panicking about Chinese growth

Chinese leaders in October outlined the direction of the world’s second largest economy over the next five years. The country’s 13th five-year plan running from 2016 – 2020 calls for “medium-high economic growth” and doubles-down on a long-stated commitment to “double 2010 GDP by 2020”. The 2020 GDP goal would require annual growth rates of 6.5% to go from a nominal $10 trillion last year to over $12 trillion in 2020. That’s the equivalent … Continue reading

Posted in News | Comments Off

One more reason you don’t want to mine nickel

Nickel was the worst performer in a pretty sorry commodities field in 2015. The steelmaking ingredient lost just shy of 42% of its value last year. What makes nickel’s dismal year even more disappointing is that following Indonesia’s ore ban at the outset of 2014, the stars seemed to align for the metal and analysts rushed to its defence (guilty as charged). That sent the nickel price to above $20,000 less than five months … Continue reading

Posted in Metal Marketing, Mining, News | Comments Off

Chile pushes #Lithium development, puts state reserves up for tender

By Rosalba O’Brien SANTIAGO Jan 25 (Reuters) – Chile is pushing forward with new policies to develop its vast lithium reserves, the government said on Monday, at a time when prices for the battery ingredient have been rising rapidly. One of the government’s first moves in the mostly private sector industry would be a call to tender the exploration of two salt flats owned by state-run Codelco, the world’s biggest copper producer. Lithium is … Continue reading

Posted in Metal Marketing, News | Comments Off

New Caledonia fears civil unrest after collapse of ClivePalmer’s #Nickel refinery

The collapse of Clive Palmer’s Queensland Nickel business has compounded fears of civil strife in New Caledonia should the French territory’s key mining customer go under completely. The perilous position of the Townsville-based metals producer, which puts nearly all of New Caledonia’s export income from laterite nickel ore at risk, has heightened concerns among business operators and government officials that the fallout could spill over from major job and revenue losses into violent industrial … Continue reading

Posted in Metal Marketing, Mining, News | Comments Off

Metal producers forced into output shift

On a Glencore conference call last month, London’s biggest mining investor demanded to know when resource companies would finally halt production of nickel, the year’s worst performing metal. “How much longer do you think we’re going to see some of this production remain around before it’s forced to be taken out of the market?” asked Evy Hambro, who manages billions of dollars in mining funds for BlackRock. As prices for the metal used in … Continue reading

Posted in Metal Marketing, News | Comments Off

India will step up as China’s economy slows

The urbanisation of India and its swelling middle class will step in to fill the breach as China’s economic growth slows, according to the resources minister, Josh Frydenberg. Despite a slowdown in China and the International Monetary Fund cutting its forecasts for global growth for the third time in less than a year, Frydenberg said on Wednesday that the fundamentals of the world economy were still in favour of commodities. The IMF downgraded its … Continue reading

Posted in News | Comments Off