#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
#Hindustan #Copper Limited inaugurated the #Nickel, #Copper and acid recovery plant yesterday at #Indian Copper Complex, Ghatsila (Jharkhand). This is the first facility in #India to produce nickel metal of LME grade from primary resource. The Singhbhum Copper Belt has unique ore characteristics which contains appreciable quantity of nickel. Hindustan Copper has installed and commissioned the technology to recover as nickel metal.
The annual demand for pure nickel in India is around 45,000 MT and its market in the country is totally dependent on import.
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