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Category: International

China's Coal Output Faces Challenges Amid Safety Checks and Increased Demand 1 International Coal 

China’s Coal Output Faces Challenges Amid Safety Checks and Increased Demand

Constance
China’s coal production growth for this year is expected to be in the range of -1% to 1%, a revision from the previously forecast 1% expansion, according to Li Xuegang, deputy chairman of the China Coal Transportation and Distribution Association (CCTD). Speaking at a seminar on Wednesday, Li highlighted the difficulties facing the industry. In 2023, China, the world’s largest coal producer, mined 4.66 billion metric tons of coal, marking a 2.9% year-on-year increase, according to the National Bureau of Statistics. However, meeting the production target for 2024 is proving… Read More Here
Trafigura's Head of Mergers and Acquisitions, Jesus Fernandez, to Retire 2 International Mergers & Acquisitions Mining Personality 

Trafigura’s Head of Mergers and Acquisitions, Jesus Fernandez, to Retire

Constance
Jesus Fernandez, the head of mergers and acquisitions at Trafigura Group, is set to retire, marking the latest senior departure from the commodity trading giant. Fernandez’s retirement follows nearly 20 years with the firm. Patrick Burke, another seasoned Trafigura dealmaker, will succeed him. Fernandez’s departure comes amid a period of significant turnover in the upper echelons of Trafigura, one of the world’s largest traders of oil, gas, and metals. Over the past 12 months, the company has experienced several senior exits and underwent a major reshuffle in September. Additionally, in… Read More Here
Solaris Resources Abandons Stake Sale to Zijin Mining Due to Canadian Regulatory Hurdles 3 International 

Solaris Resources Abandons Stake Sale to Zijin Mining Due to Canadian Regulatory Hurdles

Constance
Solaris Resources has terminated its plans to sell a minority stake to China’s Zijin Mining Group, citing concerns that the deal would not meet Canada’s stringent foreign investment standards in a timely manner, the Canadian company announced on Tuesday. In January, Solaris revealed its intention to sell a 15% stake in the company to state-owned Zijin for C$130 million (approximately $95 million) to support the development of its Warintza copper project in Ecuador. However, the transaction required approval under the Investment Canada Act, which was revised in late 2022 to… Read More Here
Zimbabwe Advances Plans for Local Production of Battery-Grade Lithium 4 International Battery Metals 

Zimbabwe Advances Plans for Local Production of Battery-Grade Lithium

Constance
Zimbabwe is making strides in its efforts to enhance its lithium industry, with four mining companies presenting proposals to produce battery-grade lithium within the country. This move reflects Zimbabwe’s ambition to refine lithium locally, a mineral crucial for electric vehicle batteries and renewable energy storage, aiming to bolster its economy. As Africa’s leading lithium producer, Zimbabwe is urging miners to process the mineral domestically, shifting away from the current practice where Chinese lithium miners primarily export lithium concentrates to China for further processing. Last November, Zimbabwe’s finance minister Mthuli Ncube… Read More Here
Tanzanians Encouraged to Invest in the Mining Sector 5 International 

Tanzanians Encouraged to Invest in the Mining Sector

Constance
As the clock ticks closer to the Third Forum on the Implementation of Tanzanian Participation in the Mining Sector, scheduled to kick off on May 22, 2024, Engineer Yahya Samamba, Executive Secretary of the Mining Commission, has emphasized the critical importance of capitalizing on investment opportunities within the Mining Sector. With Tanzania’s mining industry poised as a cornerstone of economic development, Engineer Samamba underscored its potential to significantly bolster the national economy through job creation and increased tax revenue. As Tanzanians eagerly anticipate the upcoming forum, set to take place… Read More Here
Nickel International Battery Metals Cobalt Lithium Nickel 

Critical Minerals Market Value Projected to Soar to $770 Billion by 2040

Constance
The market value of critical minerals is projected to rise from its current $325 billion to $770 billion by 2040 under the Net Zero Emission (NZE) scenario, which aims for carbon neutrality by 2050. This projection is part of the “Global Critical Minerals Outlook 2024,” a study released by the International Energy Agency (IEA) on May 17, 2024. The report attributes the expected increase in market value to the surging global demand for minerals essential for the energy transition, including lithium, cobalt, copper, nickel, and rare earth elements. This demand… Read More Here
Glencore Reports Increased Emissions and Energy Use for 2023 6 International 

Glencore Reports Increased Emissions and Energy Use for 2023

Constance
Global diversified miner Glencore reported an increase in emissions and energy use for 2023 but emphasized its ongoing commitment to sustainable operations and evolving standards. According to Glencore’s 2023 Sustainability Report, total energy use reached 202 PJ, up from 194 PJ in 2022. Renewable energy sources accounted for 5.4% of the total, down from 7.6% in the previous year. Scope 1, 2, and 3 emissions totaled 433 million tonnes of CO2-equivalent, compared to 397 million tonnes in 2022. This includes 324 million tonnes from the use of sold products and… Read More Here
Two Miners Killed, One Trapped in Poland Mine Collapse 7 International Mining safety 

Two Miners Killed, One Trapped in Poland Mine Collapse

Constance
Two miners lost their lives and one remains trapped following an overnight tremor that caused a partial collapse at the Myslowice-Wesola mine in southern Poland, the mine’s owner reported on Tuesday last week. The tremor, which occurred 870 meters underground, affected 15 miners in the danger zone. Polska Grupa Górnicza, the owner of the mine, told state news agency PAP that 12 miners were rescued, with 10 of them hospitalized due to their injuries. “Unfortunately, two of the miners were pronounced dead by the doctor,” said Rajmund Horst, deputy chief… Read More Here
BHP needs to bid about $41 a share for Anglo -JPMorgan 8 International 

BHP needs to bid about $41 a share for Anglo -JPMorgan

Constance
BHP Group (ASX: BHP) would need to boost its latest offer around 30% to reflect fair value for Anglo American (LON: AAL) and its key copper assets, JPMorgan analysts said in a note. They raised their price target for London-listed Anglo to 27.75 pounds a share after reexamining the value of its copper assets, and said the discount for the shares to the implied value of BHP’s offer was at its greatest level, implying the market sees a deal as unlikely. Why it’s importantAnglo has rejected two bid proposals from… Read More Here
Zijin Mining Increases Copper Output Targets Amid Soaring Prices 9 International Copper 

Zijin Mining Increases Copper Output Targets Amid Soaring Prices

Constance
China’s leading copper miner, Zijin Mining Group, has raised its output guidance as copper prices rally toward record highs due to expected supply deficits. In a recent filing to the Shanghai Stock Exchange, Zijin announced plans to boost mined copper production to 1.22 million tons by 2025, a 4% increase from its previous target. The company projects that by 2028, output will surge to between 1.5 and 1.6 million tons, marking a roughly 50% increase from 2023 levels. The Fujian-based company attributed the revisions to strong fundamentals and capacity expansion… Read More Here

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