Category Archives: Metals

BHP’s ore pricing tweak reaps $US 7bn for Australia

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CHANGES to the way iron ore is priced cost Chinese importers about $US444 million ($467.7m) a month in the first 1 1/2 years of the system, a study shows.

The campaign led by BHP Billiton to replace the benchmark system with spot market pricing was equivalent to a price increase of 7.1 per cent and added $US7.1 billion to Australian exporter revenues, according to the study by Australian National University researcher Luke Hurst that looked at the period between April 2010, when the system was introduced, to December 2011.

By shifting freight costs to the producer, it also enabled Australian exporters to reclaim the cost advantage they hold over Brazil because of their proximity to the Chinese market.

– See more at: http://www.theaustralian.com.au/business/mining-energy/bhps-tweak-reaps-7bn-for-australia/story-e6frg9df-1226753068226#sthash.7ZhTLUOS.dpuf

Indonesia takes over Inalum smelter

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JAKARTA: Indonesia has taken control of the country’s only aluminium smelter even though the government and the facility’s majority Japanese shareholders have yet to agree a price, Indonesian government officials said.

Talks over Indonesia Asahan Aluminium (Inalum) reached a stalemate after the South-East Asian state and the Japanese shareholders, which include Sumitomo Chemicals Corp and Mitsubishi Corp, chose different mechanisms to evaluate the smelter.

http://www.thestar.com.my/Business/Business-News/2013/11/04/Indonesia-takes-over-Inalum-smelter.aspx

Precious Metal Platinum Quickly Turning Chinese

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It happens to all commodities. At one time or another, China falls in love with you and barring a drought or striking miners somewhere, your price becomes dependent on Chinese mood swings.

http://www.forbes.com/sites/kenrapoza/2013/11/02/precious-metal-platinum-quickly-turning-chinese/

First Serbian products of lithium made in summer 2013

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BELGRADE – Rio Tinto Serbia General Manager Richard Storrie has stated that the first products with lithium from the Serbian jadarite were made this summer, adding that with this unique ore in the world Serbia could satisfy the needs for lithium in the European and the global market.

http://inserbia.info/news/2013/11/first-serbian-products-of-lithium-made-in-summer-2013/

Glencore Xstrata approved for JSE listing

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JOHANNESBURG – Glencore Xstrata has received its regulatory approval for a JSE listing.

The heavyweight resources and commodity trading group says it will debut on November 13.

Glencore Xstrata, which has its primary listing in London, will rank among the top three on the JSE in terms of the total value of the company’s shares.

http://mobi.enca.com/money/glencore-xstrata-goes-public

China’s potential REE exports capping to have no short-term effect

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TORONTO (miningweekly.com) – Should the world’s largest rare earth elements (REE) producer China proceed to cap its exports within the next five years, it would probably not have a significant knock-on effect in the current global market, critical REE project developer Frontier Rare Earths CEO James Kenny told Mining Weekly Online on Friday.

He said the reason for this was the fact that China is currently expected to fall short of its proposed 100 000 t/y export cap, leaving the present largely balanced market unaffected.

http://www.miningweekly.com/article/chinas-potential-ree-exports-capping-to-have-no-short-term-effect-2013-11-01

Vale’s Earnings Surge on Output

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Vale Indonesia, the country’s biggest nickel miner, posted a 64 percent increase in profit in the first nine months of this year on the back of rising production and improving operations.

In a statement released on Thursday, the company said that its net income jumped to $47.28 million in the January-September period from $28.94 million in the corresponding period last year.

http://www.thejakartaglobe.com/business/vale-indonesia-earnings-surge-on-output/

Rio Tinto to boost iron ore capacity

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The new CEO of mining giant Rio Tinto Group, Sam Walsh, said the company will continue to expand its iron ore capacity in Western Australia to meet growing demand from China, its most important market.

In his fourth visit to China this year, Walsh said that China’s urbanization and industrialization drive will continue to support iron ore demand.

http://usa.chinadaily.com.cn/business/2013-11/02/content_17075749.htm

India makes its claim for sulphide mining from the Indian Ocean

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CHENNAI: India has made its first ever claim before the International Seabed Authority (ISA) for the exploration of poly-metallic sulphide from the Mauritius seas.

http://articles.timesofindia.indiatimes.com/2013-10-28/india/43461248_1_international-seabed-authority-indian-ocean-isa

Russia’s Norilsk unveils new strategy, technology

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Russian mining major MMC Norilsk Nickel (Norilsk) has revealed that it is to sell its Southern African and all its other international assets by the end of 2016.

This process, which will start next year, is part of the group’s new strategy, which will see it focus on ‘Tier 1’ assets. The new strategy will also see a clear focus on nickel and the associated copper and platinum-group metals (PGMs).

Currently, Norilsk Nickel Africa embraces two main operations – Tati Nickel, in Botswana, and Nkomati Nickel, in South Africa. Norilsk owns 85% of Tati (the other 15% is held by the Botswana government) and 50% of Nkomati, which is a joint venture with South African group African Rainbow Minerals, which has management control. Both Tati and Nkomati also produce copper, palladium and platinum as by-products. Further, Norilsk has a 6% shareholding in Botswana mining company BCL, the remaining 94% belonging to the Botswana government.

http://www.miningweekly.com/article/russias-norilsk-unveils-new-strategy-and-technology-2013-10-25

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