“This potentially gives the UK security of supply.”. As the industry continues to adapt and respond to the COVID-19 pandemic, thought leadership, market transparency, and a forum to network all have become more critical than ever. The IODEX 62% Fe physical price on Dec. 11 rose to $160.70/dmt, a new multi-year high, while the forward curve midpoint delivery window value on the day was $158.09/dmt, according to Platts calculations. An issue mentioned by more than one of the interviewees was that of safety and practical measures that would help women to feel welcome and secure in the workplace. Mining, metals and minerals in a circular economy By: Andrew Cheatle and Elizabeth Freele December 4, 2020 We are all familiar with the principles and practice of recycling and re-using, and for many it is a common practice of daily life. Platts spoke to 30 companies for the Outlook over Dec. 7-11, comprising Chinese mills, domestic and international traders and mining companies. Steel mills could reduce iron ore pellet demand in the first quarter in response to higher prices and premiums, especially where they can use more lump, or opt to use more sinter, market sources said. Santiago, Chile — Lundin Mining is assessing the feasibility of a restart of operations at its Candelaria copper mine in northern Chile after workers voted to end a month-long strike at the operation, the company said. Manufacturing has recovered strongly in recent months and global supply chains have been restored, helping China’s exports to resume. But one would have to think some new capacity will be built—especially as the lion’s share is being funded by Chinese companies, which could potentially benefit from Belt & Road Initiative borrowing terms. LONDON--(BUSINESS WIRE)--The metals and mining industry is plagued with various challenges, and companies need to adopt new strategies to … The company said the technologies provided “an innovative and environmentally responsible metallurgical processing solution”, with work so far indicating the potential to produce battery-grade lithium in Cornwall without the need for further refining, making it a complete on-site solution. Opinion 14 October 2020 Metals and mining: an industry at a crossroads; Opinion 19 June 2020 Metals and mining: who gets hit hardest by an economic slump? Interviewees highlighted the need for diversity policies to be comprehensive, covering not only gender but also ethnicity and national diversity, LGBTQ+ representation and issues of social mobility, disability and mental health. Commodity news in metals, mining and supply & demand. Metals Headlines PRECIOUS-Gold climbs on U.S. stimulus hopes post Fed statement Gold rose on Wednesday on prospects for more stimulus measures after the … The 1.63% spread on Dec. 11 with the forward midpoint was the narrowest to the physical spot price since January. These can include weather events and environmental factors, operational outages and disasters, government policy changes (especially in China)—and heavens above, a global pandemic. Cornish Lithium CEO Jeremy Wrathall told journalists on a phone call Lepidico had already invested A$27 million ($20 million) in the technology to be used over six or seven years. Yes, there are mine replacement in Western Australia projects (more on this later), and Fortescue’s new Iron Bridge magnetite project. The technologies will allow for the development of low-carbon extraction of lithium from zinnwaldite and polylithionite mica ores in the St Austell region. The most-recent ETF launched in the Metals & Mining space was the Amplify Lithium & Battery Technology ETF BATT in 06/06/18. As it turned out, Rio Tinto and BHP were 5-10 years too late in their predictions. The party was over! Cornish Lithium was fast tracking the project and path to commercial production in line with the UK government’s initiative to bring forward its electric vehicles targets to 2030 from 2035, according to Wrathall. BHP in 2016 set a goal to achieve 50% female participation across its workforce by 2025. But here’s why I think an overly bearish outlook on medium-term prices may be wrong: There is little in the way of meaningful net new supply guaranteed to hit seaborne markets in the next 2-3 years. Box 6219 102 34 Stockholm In fact, from practically the time your blogger started covering the iron ore and steel industry—from Shanghai in May 2008, the month of Fortescue Metals Group’s inaugural shipment—he was told: “Don’t get excited by all the hype now, there will be a massive oversupply in a few years. Just 23% saw their iron ore needs declining in Q1, the Outlook found. There’s not much point building ambitious volumes into a supply-demand model when companies keep missing their current year targets. Members of the Candelaria AOS union voted to accept the latest offer from management on November 19, ending a […] “In response to prolonged and pronounced price rises in the past, they have tended to resort to the ample but lower-quality domestic iron ore, using their market power to force prices down.”. “The UK is now the poster child for environmental sustainability, and critical to that is having access to the raw mat such as lithium for the batteries that will allow our transition to an electric, renewable future,” Wrathall said. Some 62% of participants said iron ore prices would remain above $120/mt CFR China in Q1, […]. Wrathall said the company had identified a former china clay processing site connected to the coast by rail that Cornish Lithium should be able to get control of over in the next year for the production plant. 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