A Blog for Browsing Mining, Mineral Processing, and Metals Info

The northern Manitoba city of Thompson could be home to a new mining mega-development from Vale, which is exploring minerals deep underground.

News of a potential big development is being cautiously welcomed in Thompson, which was devastated by news in 2010 that Vale — the city’s largest employer — would shut down its nickel smelter and refinery there by 2015.

Vale is currently testing ore samples in a project area it calls 1-D, about 3,800 to 4,200 feet underground in the company’s T-3 mine shaft.

Preliminary testing in 1-D shows a deposit rich in nickel and copper deposits and also containing some cobalt and precious metals.

Read more at: http://www.cbc.ca/news/canada/manitoba/thompson-s-future-looks-up-as-vale-studies-mine-potential-1.2437647

Rio Tinto Group (RIO), the world’s second-biggest mining company, said proposed economic reforms unveiled this month by China contained many positive signals, underpinning continued demand for raw materials.

The Communist Party’s third plenum document “contained many positive signals, including the pledge to further open up border areas in the interior and support land reform,” said Jan du Plessis, chairman of London-based Rio, according to notes for a speech today in Sydney. “My long-term view of the Chinese economy remains positive and we expect to see continued, robust growth in demand for commodities.”

Read more at:

http://www.bloomberg.com/news/2013-11-22/rio-chairman-sees-many-positive-signals-in-china-plan-correct-.html

JAKARTA, Nov 21 (Reuters) – Indonesia’s main commodities  exchange is planning to build on its physical tin contract by offering tin futures next year that it hopes could help win trade from the London Metal Exchange.

Indonesia in August forced all its tin ingot exporters to trade on the Indonesia Commodity and Derivatives Exchange (ICDX), before shipping the solder material, in a bid to raise prices and curb illegal mining, as well as to gain a greater say over global prices now dominated by the LME.

Read more at: http://www.reuters.com/article/2013/11/21/indonesia-tin-icdx-idUSL4N0J60YT20131121

(Reuters) – General Electric’s finance arm has bought a 1.4 billion pound ($2.3 billion) portfolio of mainly British commercial real estate loans from Deutsche Postbank as it seeks to expands its refinancing and new loans business.

GE Capital Real Estate said the portfolio is composed of performing commercial property loans, with many soon up for renegotiation.

More than 90 percent of the loans are in Britain and secured against offices, shops and hotels, some of which are in central London, a spokeswoman for GE Capital Real Estate said. The remaining properties are in Germany and France.

Read more at: http://www.reuters.com/article/2013/11/20/us-gecapital-deal-idUSBRE9AJ0LZ20131120

BEIJING, Nov 21 (Reuters) – Mongolia hopes the $5 billion expansion of a giant copper and gold mine can start next year as it works to resolve a dispute with global mining giant Rio Tinto, its partner on the project, a government source said.

Read more at: http://finance.yahoo.com/news/mongolia-wants-resolve-mine-dispute-044217058.html

While foreign miners already operating in Indonesia are lamenting the mineral export ban scheduled for next year, Glencore Xstrata, one of the world’s biggest diversified natural resource companies, but which has no physical assets in the country, is looking to steal the show.

Industry Minister MS Hidayat told reporters on Tuesday that Ivan Glasenberg, the chief executive of the Swiss-based company, has expressed interest in investing in a mineral processing facility in the eastern part of Indonesia. Hidayat and Glasenberg held a meeting at the ministry’s headquarters in Jakarta on Tuesday.

Read more at: http://www.thejakartaglobe.com/business/glencore-xstrata-plans-value-adding-local-entry/

Anglo-Australian miner, Rio Tinto, has spoken publically about its vast jadarite resources containing large lithium and borate reserves in Serbia, which it says can supply global and European lithium demand.

Speaking at the third international conference on mineral resources in Tsomokos, Serbia, Richard Storrie, general manager at Rio Tinto Serbia, said that its 100m tonnes jadarite resources could provide as much as 19m tonnes of lithium and borates.

Read more at:  http://www.indmin.com/Article/3280925/Channel/19523/Serbia-lithium-borate-project-could-be-global-player-Rio-Tinto.html

Chinese demand for Australia’s natural resources may prove to be stronger than currently believed, according to BHP Billiton chief executive Andrew Mackenzie.

Speaking at the opening of the mining giant’s new headquarters in Melbourne, Mr Mackenzie said early indications from the Chinese government’s recent economic policy summit were positive for Australia and its mining industry.

Read more at: http://www.smh.com.au/business/bhp-billiton-confident-of-chinese-demand-20131119-2xtcd.html#ixzz2lCU0VDwA

(Reuters) – U.S. miner Freeport-McMoRan Copper & Gold Inc  has agreed to pay nearly a third more in annual processing charges to China’s leading copper smelters, likely increasing the pressure on rival BHP  to raise its own offer on the charges.

The higher charges reflect expectations for growing mine supply pushing the market into a widening surplus next year and keeping a lid on copper prices.

Read more at: http://www.reuters.com/article/2013/11/18/us-jiangxicopper-freeport-tcrc-idUSBRE9AH0BI20131118