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.
#Britain’s decision to leave the #EuropeanUnion may push back its planned exit from #Coal, a mainstay in the nation’s energy supply for more than a century.
Read more at: http://www.bloomberg.com/news/articles/2016-08-22/brexit-worsens-u-k-energy-supply-risk-as-coal-retirement-loomshttp://www.bloomberg.com/news/articles/2016-08-22/brexit-worsens-u-k-energy-supply-risk-as-coal-retirement-looms
#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.
Read more at: http://www.reuters.com/article/medco-energi-newmont-mining-idUSL3N1B021M
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.
#China’s of consumption of metals and minerals far outstrip domestic supply – in #Iron ore its imports constitute nearly 80% of use and in #Copper it’s approaching 50% and for #Nickel it’s already above that.
Read more at: http://www.mining.com/chart-china-must-import-ore/
#GeneralElectric 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 #US publicly traded company headquartered in #Virginia.
Read more at: http://www.canadianbusiness.com/business-news/bwxt-to-buy-ontario-nuclear-business-from-ge-hitachi-double-presence-in-canada/
#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.
Read more at: http://www.bloomberg.com/news/articles/2016-08-19/china-sovereign-fund-said-to-pursue-vale-iron-ore-streaming-deal
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 #RioTinto Group forecasts it will boost expenditure from next calendar year.
Read more at: http://www.miningweekly.com/article/biggest-miners-project-spending-reboot-signals-rebound-firming-2016-08-17/rep_id:3650
#Peruvian production of mined #Copper jumped by a staggering 51.5 percent to 1.12 million tonnes in the first half of this year. National output was 741,000 tonnes in the year-earlier period, according to #Peru’s ministry of energy and mines.
#Chilean production, meanwhile, has been trending lower at an accelerating pace this year and #Codelco, the country’s top producer, has switched its attention to cutting costs with serious implications for medium-term production prospects.
It is still a distant light as the market soaks up the Peruvian mine surge.
Read more at: http://www.reuters.com/article/us-peru-copper-ahome-idUSKCN10T10R
#Nickel’s rally is only just getting started, making the metal an attractive bet for investors, according to #Jinchuan Group, #China’s biggest producer of the refined metal.
Read more at: http://www.bloomberg.com/news/articles/2016-08-17/biggest-chinese-nickel-producer-says-bull-market-just-beginning
#Indonesia’s chief economic minister said on Tuesday his team would seek a way out of mining rules that threaten to prevent some firms from exporting semi-processed minerals from January.
Read more at: http://www.reuters.com/article/indonesia-mining-exports-idUSL3N1AX3TH
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