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

Norilsk Nickel has agreed a large-scale long-term contract for the supply of platinum group metal (PGM) chemical compounds to chemical company BASF.

Source: http://www.metalbulletin.com/Article/3301978/Base-metals/Norilsk-signs-PGM-supply-contract-with-BASF.html

Jan 27 (Reuters) – Indonesia’s ban on exports of key mineral ores – unless they are processed in the country – risks backfiring as weaker commodity prices mean it is not cost-effective to invest in expensive smelters and refineries.

The ban, which came into effect on Jan. 12, was unveiled in 2009 as a commodities boom began to froth and Jakarta sought to extract more value from its mineral resources. But metals prices and margins have since fallen, leading to oversupply and less need for building more processing capacity.

Read more at: http://www.reuters.com/article/2014/01/27/indonesia-minerals-smelters-idUSL3N0KY20P20140127

Nickel, the best-performing industrial metal this year, may extend its rally as Indonesia’s ban on unprocessed ore exports crimps supply, according to Goldman Sachs Group Inc.

Goldman raised its 12-month price target on the metal used in stainless steel to $16,000 a metric ton from $15,000, analysts including Christian Lelong said in a report today. That would mean a 10 percent gain from now. Goldman also listed zinc and palladium among its top picks on tightening supplies, while iron ore and copper have “the greatest downside” risks, it said.

Read more at: http://www.bloomberg.com/news/2014-01-21/nickel-seen-extending-rally-by-goldman-on-indonesia-ban.html

Jan 7 (Reuters) – Kenya’s first exports of titanium minerals will be shipped this month from its biggest mine, with sales amounting to $4 million in January and February, mine operator Base Resources said on Tuesday.

Kenya’s first large-scale international mining project began production in October after being delayed since 2006 due to cash constraints, environmentalist protests, compensation disputes with local farmers and government red tape.

Read more at: http://in.reuters.com/article/2014/01/07/kenya-baseresources-idINL6N0KH2BB20140107

In their mining industry’s effort to mitigate the ore export ban coming into effect Jan. 12 (as we reported earlier), the Indonesian government optimistically states that some 28 smelters are being built and will be ready by 2017, but in reality they will do well to have even half that number completed.

Freeport Indonesia, the local unit of US copper giant Freeport-McMoRan Copper & Gold, is a case in point.

Read more at: http://agmetalminer.com/2014/01/08/freeport-mcmorans-indonesia-smelter-situation-spells-pain-for-china/

The Russian and Ukrainian basic pig iron market has been quieter this week, as buyers and sellers departed for the Christmas and New Year festivities, while scrap prices — the traditional lead indicator for pig iron prices — started showing signs of decline, sources said Friday.

This week saw a few sales from the Ukrainian producers, all at levels equivalent to $385-387/mt FOB Mariupol, on a CFR basis. One sale to Egypt in the beginning of the week at $417/mt CFR, would netback to around $385/mt FOB Mariupol, for a February production/end-February load readiness cargo of 20,000 mt, a mill-linked source said.

There were also few sales to Turkey, at around $410/mt CFR Marmara, or around $384/mt FOB Mariupol calculated based on current freight rates, for February production/end-February load readiness, according to sources.

Read more at: http://www.platts.com/latest-news/metals/london/cis-basic-pig-iron-export-market-softens-on-fewer-21005110

The Indonesian-Swedish Initiative for Sustainable Energy Solutions (INSISTS) will be working to assist the Indonesian government in developing its renewable energy policy, including reducing the damage to tropical forests caused by excessive development of oil palm plantations.

Read more at:

http://www.thejakartapost.com/news/2013/12/08/ri-sweden-develop-renewable-energy-technologies.html

Dec 3 (Reuters) – Russia may scrap a 5 percent export duty on nickel and copper in 2014, two years earlier than planned, to support indebted metals and mining companies struggling with weak prices, business daily Vedomosti reported on Tuesday.

The move, which will benefit Russian mining giant Norilsk Nickel, the world’s biggest nickel producer, is one of 13 measures that Vedomosti said Russian Prime Minister Dmitry Medvedev would order his ministries to work up by Dec. 23.

Read more at: http://in.reuters.com/article/2013/12/03/russia-metals-idINL5N0JI0TF20131203

China’s environmental protection regulator has suspended Jinchuan Group’s application for an initial public offering (IPO) after finding the company in breach of several pollution control standards.

Indonesia’s tin exports picked up in November to around two thirds of typical levels, Reuters analysis of exchange data showed, recovering from a two-month slump triggered by a change in the country’s export rules. More tin shipments by the top exporter could help bring down global prices that hit a seven-month top in October as supply from Indonesia slowed, but premiums in Asia will be supported with London Metal Exchange stocks still near 18-month lows.

Read more at: http://www.brecorder.com/business-a-economy/189/1260666/