Category Archives: Metals

Western militaries risk losing access to key materials

WASHINGTON — Western militaries may lose access to critical materials needed for weapons and other systems, because of the growing demand for new technologies, questionable supply lines and production in unfriendly or dangerous countries, NATO documents show.

“Key strategic materials are those that are crucial in the manufacture of sophisticated military hardware or components such as airframes, gas turbines, rocket motors, munitions, armor and electronics,” according to a newly released NATO request for information. “These materials are becoming increasingly scarce.”

Read more at: http://www.usatoday.com/story/nation/2014/02/12/critical-materials-shortage-national-security-risks/5400267/

GlencoreXstrata’s ferrochrome up 32%, African copper up 43%

JOHANNESBURG – LSE- and JSE-listed diversified miner GlencoreXstrata on Tuesday reported firm increases in its South African and African production of ferrochrome, copper and oil in the 12 months to December 31.

Production of ferrochrome from the company, headed by CEO Ivan Glasenberg, rose 32% to 1.2 million tons on better utilisation of smelters and furnaces and the successful commissioning of the Tswelopele pelletising plant in South Africa.

Read more at: http://www.miningweekly.com/article/glencorexstratas-ferrochrome-up-32-african-copper-up-43-2014-02-11

North Korea Holds Potential 216 Million Tonnes Rare Earths

North Korea’s been reported to be potentially holding the world’s largest deposit of rare earth minerals at 216 million tonnes, which if properly managed and funneled, could make the world’s most isolated regime and its people rich and powerful.

Cradle Resources plans DFS for Tanzania niobium project

Cradle Resources intends to carry out a Definitive Feasibility Study for its Panda Hill Niobium Project in Tanzania and intends to complete an equity raising to fund this.

The company had previously estimated initial capital expenditure for a 1 million tonne per annum project at US$125 million.

This will generate EBITDA of US$100 million per annum over a 26 years mine life.

Read more at:  http://www.proactiveinvestors.com.au/companies/news/52672/cradle-resources-plans-dfs-for-tanzania-niobium-project-52672.html

Worsley’s major expansion reaches capacity

The major expansion of operations at BHP Billiton Worsley Alumina is now officially complete with the refinery reaching its nameplate capacity of 4.6 million tonnes per annum.

 The major milestone has been reached in Worsley’s 30th year of operations in the South West, with celebrations planned to mark the anniversary later this year.

Read more at: http://www.bunburymail.com.au/story/2077418/worsleys-major-expansion-reaches-capacity/?cs=278

NASA bets on private companies to exploit moon’s resources

NASA—building on successful partnerships with private companies to resupply the International Space Station—is now looking to private entrepreneurs to help exploit resources on the moon.

The lunar soil is rich in coveted rare earth elements: 17 chemicals in the periodic table that are in an increased demand because they are heavily used in everyday electronics.

Read more at: http://phys.org/news/2014-02-nasa-private-companies-exploit-moon.html#jCp

Iron ore price drop to hit big miners

Iron ore prices have fallen to seven month lows and are likely to weigh on the share prices of Australia’s biggest miners, just as they prepare to report their profit results.

Rio Tinto is expected to report its final year earnings on Thursday, while BHP Billiton and Fortescue Metals Group will report their December half results next week. In the past, strong iron ore prices have helped to bolster their company earnings and share prices.

The major miners are each trading higher heading into this week’s busy reporting period. Rio’s share price is $65.96, BHP shares are $39.09 and Fortescue is $5.60.

Iron ore was last quoted by the Steel Index at $US120.90 a tonne. That is down 10.5 per cent since the start of the calendar year.

Read more at: http://www.afr.com/p/markets/iron_ore_price_drop_to_hit_big_miners_8h2Xq3TT9ol5aexW1z3UMO

Minmetals Said to Be Near Deal to Buy Glencore’s Bambas Mine

A group led by China Minmetals Corp. is nearing an agreement to purchase Glencore Xstrata Plc (GLEN)’s Las Bambas copper project in Peru for more than $5 billion, according to people with knowledge of the matter.

A deal between Minmetals, China’s biggest state-owned metals trader, and Glencore could be announced as early as this month subject to Chinese government approval, said the people, who asked not to be identified as the process is private. The asset could fetch closer to $6 billion, one of the people said.

Read more at: http://www.businessweek.com/news/2014-02-06/minmetals-said-to-be-near-deal-to-buy-glencore-s-las-bambas-mine

Indonesia Won’t Relax Smelter Sureties for Ore-Export Permission -Official

JAKARTA, Indonesia–Indonesia won’t back down from preventing exports by mining companies refusing to put up sureties they will build smelters, the country’s director-general of minerals and coal says.

Mining companies must place cash equal to 5% of the cost of constructing a smelter in local banks to show they are “serious,” Director General of Minerals and Coal at the Ministry of Energy and Mineral Resources Sukhyar said late on Thursday.

“The money will be returned after smelter construction is completed,” Mr. Sukhyar said. Companies promising to build smelters can still export ore.

Read more at: http://online.wsj.com/article/BT-CO-20140206-717560.html

M&A-shy mining majors eye junior partnerships to grow reserves

(Reuters) – At a time when major miners have turned gun-shy on acquisitions after a rash of value-busting deals, two big players made it clear last week that they are still keen to partner with junior firms on high-quality, early-stage projects.

Under pressure from investors to retreat from large, capital-intensive projects, companies like Canada’s Teck Resources Ltd (TCKb.TO) and Poland’s KGHM Polska Miedź SA KGH.WA are looking to tiny exploration companies to secure future output.

Read more at: http://www.reuters.com/article/2014/02/06/us-mining-juniors-idUSBREA151VC20140206

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