Monthly Archives: August 2016

Nickel merry-go-round: Indonesia ferronickel replacing Philippine ore: Russell

By Clyde Russell | LAUNCESTON, Australia Is nickel’s current rally sustainable or is the metal merely having a strong run because market participants are more focused on the environmental crackdown in top ore miner the Philippines, rather than on the surge in Indonesian ferronickel exports? No doubt nickel is one of the strongest commodity performers this year, with benchmark London futures rising 13.3 percent from the end of last year to the close on … Continue reading

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Graphite-Carbon foam Sponge Creates Steam Using Ambient Sunlight

How do you boil water? Eschewing the traditional kettle and flame, MIT engineers have invented a bubble-wrapped, sponge-like device that soaks up natural sunlight and heats water to boiling temperatures, generating steam through its pores. The design, which the researchers call a “solar vapor generator,” requires no expensive mirrors or lenses to concentrate the sunlight, but instead relies on a combination of relatively low-tech materials to capture ambient sunlight and concentrate it as heat. … Continue reading

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Make or break: Philippine law maker says ban ore exports or shut shop

By Manolo Serapio Jr and Enrico Dela Cruz MANILA, Aug 23 (Reuters) – A Philippine lawmaker has revived a proposal to ban exports of unprocessed minerals to spur domestic processing, in a move that may tighten global nickel supply and make it an even tougher business environment for miners in the world’s top producer. The Philippines has vast but largely untapped mineral resources, limiting the contribution of mining to its economy to less than … Continue reading

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Brexit Worsens UK Energy Supply Risk as Coal Closures Loom

Britain faces losing influence in European market rulemaking Coal plants facing possible early closure as profit squeezed Britain’s decision to leave the European Union may push back its planned exit from coal, a mainstay in the nation’s energy supply for more than a century. As the region’s second-biggest economy plans to close its last coal-fired power plant in less than a decade, it will be forced to rely more than ever on imports of … Continue reading

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Indonesia’s Medco to invest $500 mln to build Copper smelter after Newmont deal

Aug 19 Indonesian oil and gas producer PT Medco Energi Internasional Tbk plans to invest $500 million to build a copper smelter following its deal to buy control of Newmont Nusa Tenggara (NNT), its president commissioner told Reuters. The smelter, which will have an annual capacity of 500,000 tonnes, is expected to start operations in 2021, Muhammad Lutfi said in an interview. Part of the funds to build the smelter will come from bank … Continue reading

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China must import more ore

China is the leader in extracting gold, zinc, lead, molybdenum, coal, tin, tungsten, rare earths, graphite, vanadium, antimony and phosphate, and holds second place in mine production of copper, silver, cobalt, bauxite and manganese. A new report from BMI Research shows the country’s domestic mining output growth has slowed dramatically and will average far below levels attained in the last decade. Reasons for the slowdown are plentiful. Chinese production growth is choppy Besides lower … Continue reading

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BWXT to buy Ontario nuclear business from GE-Hitachi, double presence in Canada

MISSISSAUGA, Ont. – General Electric and Hitachi are selling a Canadian joint venture that supplies nuclear fuel and equipment for Candu nuclear reactors — a key source of electricity for Ontario. The buyer is a Canadian subsidiary of BWX Technologies Inc., a U.S. publicly traded company headquartered in Virginia. BWXT says the acquisition will nearly double its presence in Canada and “signals a long-term strategic commitment” to the Candu nuclear power segment. BWXT Canada … Continue reading

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China Sovereign Fund to Pursue Vale Iron Ore Streaming Deal

Chinese sovereign fund in talks to purchase future Vale output Miner also talking to other Asian companies on stake sale China Investment Corp., the $814 billion sovereign fund, is leading a Chinese investor group in talks for a multibillion-dollar iron-ore streaming deal with Brazil’s Vale SA, people familiar with the matter said. The consortium is negotiating the potential purchase of a portion of Vale’s future iron-ore output for as long as 30 years, two … Continue reading

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Biggest miners’ project spending reboot signals rebound firming

MELBOURNE – The world’s two largest mining companies are planning to raise capital expenditure from decade lows as a firming rebound in commodity prices paves the way for at least $12-billion of growth projects. BHP Billiton Ltd., the No. 1 miner, expects to raise spending by 15% in fiscal 2018, while Rio Tinto Group forecasts it will boost expenditure from next calendar year. Melbourne-based BHP is looking to approve about $4.7-billion of investments for … Continue reading

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Copper – Light at the end of the tunnel?

By Andy Home | LONDON Copper is underperforming every other major base metal so far this year. The London Metal Exchange (LME) three-month price is this morning trading around $4,840 per tonne, translating to a year-to-date gain of just under five percent. And there are plenty of analysts expecting even lower copper prices over the coming months. Investors are shunning copper, preferring hotter metallic markets such as zinc, currently showing a year-to-date gain of … Continue reading

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