July 18, 2023

The trilateral negotiation mechanism for key minerals in South Korea, the United States, and Mongolia has been officially established

Seoul, June 27th (Yonhap) - South Korea, together with the United States and Mongolia, established the "Korean American Mongolian Tripartite Consultation Mechanism for Key Minerals" (hereinafter referred to as the "Consultation Mechanism") on the 27th to stabilize the global supply chain of key minerals. According to the news from the Ministry of Foreign Affai

July 18, 2023

Escalating conflict in Sudan has brought official gold trade to a halt

On May 22nd, the head of Sudan's state-owned mining company said that due to a month of escalating conflict in this North African country, the country's largest source of income - the official gold industry - has completely collapsed. The general manager of Sudan Mineral Resources Co., Ltd., Mubarak Ador, said that exports have come to a halt, processing equip

July 17, 2023

Bolivia will cooperate with Chinese and Russian enterprises to develop its lithium resources

On June 29, it was reported that the Bolivian government said on the 29th that it had signed a resource development agreement with Rosatom, the Russian state nuclear power company, and CITIC Guoan Group of China, hoping to develop its huge but largely undeveloped lithium resources. These transactions are expected to have a total investment of $1.4 billion. In

July 17, 2023

Peru strives to maintain its position as the second largest copper producer

According to BNAmericas, 2022 is not the best year for copper production in Peru. The suspension of mining companies caused by social protests has affected mining. However, since this year, there have been positive signals in the mining industry, mainly from Department of Arequipa, which has stabilized the country's position as the second largest copper producer in the world.

July 16, 2023

International gallium buyers are intensifying their hoarding, causing tight supply and demand in the industry, leading to a 27% increase in global gallium prices

On July 12th, Cailian News Agency reported that Freiberger Compound Materials, the world's largest purchaser of gallium, recently stated that after China plans to implement export control policies on gallium, its customers are frantically hoarding special semiconductor wafers produced by the company using gallium metal, resulting in a very tight supply and demand situation in the industry. It is estimated that Freiberger consumes tens of tons of gallium annually, accounting for a

July 16, 2023

Due to lithium shortage, European and American automakers are deploying upstream lithium ore resources

On July 8th, the New York Times reported that with the surge in global sales of new energy vehicles, the production capacity of existing lithium mining enterprises is no longer able to meet the needs of car companies. Many European and American car manufacturers are trying to fight for the exclusive supply rights of small lithium mines to prevent being overtaken by other car companies. In January of this year, General Motors invested $650 million to develop a lithium mine in Neva

July 16, 2023

International gallium buyers are intensifying their hoarding, causing tight supply and demand in the industry, leading to a 27% increase in global gallium prices

On July 12th, Cailian News Agency reported that Freiberger Compound Materials, the world's largest purchaser of gallium, recently stated that after China plans to implement export control policies on gallium, its customers are frantically hoarding special semiconductor wafers produced by the company using gallium metal, resulting in a very tight supply and demand situation in the industry. It is estimated that Freiberger consumes tens of tons of gallium annually, accounting for a

July 16, 2023

Kazakhstan plans to increase mining taxes

Recently, Kazakhstan's Minister of Economy, Alebek Kuantlov, stated that Kazakhstan plans to increase mining and value-added tax rates, and reduce fuel subsidies to balance the government budget. Kazakhstan is rich in oil and mineral resources, and many foreign companies are mining minerals in the country. In recent years, in response to the impact of the epid

July 14, 2023

Europe includes aluminum in the list of key raw materials

On July 6th, it was reported that EU countries have included aluminum in the list of minerals and metals covered by the Critical Raw Materials Act (CRMA). This bill is at the core of the EU strategy, aimed at ensuring it has the necessary inputs to compete with the United States and China in the global decarbonization competition.

July 12, 2023

The US Senate Passes a Tax Treaty with Chile

According to Mine.com, citing Reuters, on June 20th, the US Senate overwhelmingly passed a tax treaty with Chile, which is seen as crucial for US companies to obtain lithium necessary for electric vehicle batteries. The Senate passed this treaty with 95 votes in favor and 2 against, far exceeding the two-thirds majority required to approve the treaty in a 100

July 11, 2023

Kazakhstan plans to increase mining taxes

Recently, Kazakhstan's Minister of Economy, Alebek Kuantlov, stated that Kazakhstan plans to increase mining and value-added tax rates, and reduce fuel subsidies to balance the government budget. Kazakhstan is rich in oil and mineral resources, and many foreign companies are mining minerals in the country. In recent years, in response to the impact of the epid

July 11, 2023

Discovery of high-grade cobalt deposits in the Skutrud region of Norway

Cunico believes that it has found high-grade Middagshville cobalt ore in Skuterud project in Norway. The main ore discoveries during drilling are: 6.2 meters at a depth of 25 meters, with a cobalt grade of 0.43%, including mineralization of 3 meters thick with a cobalt grade of 0.52%, and 1 meter thick with a cobalt grade of 1.08%.

July 11, 2023

BMI predicts Brazil's iron ore production growth will rebound in the coming years.

BMI predicts that after the contraction and stagnation from 2018 to 2020, Brazil's iron ore production growth will rebound in the coming years. This is mainly due to (1) lower production and operating costs; (2) Solid project reserves; And (3) factors such as the high-quality endowment of Brazilian iron ore. And the growing popularity of China's steel producers

July 11, 2023

BMI stated that the growth of India's iron ore production will be limited by its export tax policy on low-grade iron ore blocks and fines.

Last year in 2022, in order to meet domestic demand, India raised the export tax rate to 50% and the export tax rate for pellets to 45%. Despite a reversal in the second half of the year, the price increase has led to a significant decrease in India's iron ore exports due to slow global economic growth. Basic Materials Institute (BMI) also pointed out that due

July 11, 2023

Australia's iron ore production will grow up in the coming years

BMI predicts that Australia's iron ore production will grow at an average annual rate of 0.2% from 2023 to 2027. Compared to the previous five years, this significant slowdown is due to limited new production from existing new projects. BMI predicts that production in 2027 will decrease by 5.1 million tons compared to the level in 2023. Due to Australia being

July 11, 2023

MINEX Izmir- Crushing machine exhibition

Exhibition time: September 13-16, 2023 Address: Fuar Izmir, Izmir, Turkey Exhibition Industry: Mining Organizer:

July 11, 2023

WGC: The supply and demand situation of gold in the first quarter is complex

According to the Miningweekly, the first quarter gold demand trend report of the World Gold Council (WGC), an industry organization, believes that the situation of gold demand is complex. On the one hand, the central bank continues to increase its purchases, and Chinese consumer demand rebounds, on the other hand, exchange traded funds (ETFs) and India demand is weak.

July 11, 2023

Argentina's mining exploration volume reached a 10-year high in 2022

On July 6th, foreign media reported that the Argentine Mining Secretariat stated on Thursday that last year, Argentina's mining exploration investment reached $370 million, the highest level in a decade. The Secretariat added in a statement based on data from Standard&Poor's that the exploratory budget has increased by 68% compared to 2021.

July 10, 2023

Argentina: Lithium production will reach 200000 tons by 2025

According to the Argentine Mining Secretariat, it is expected that Argentina's lithium production will reach 200000 tons and export value will reach 5.6 billion US dollars by 2025, thanks to the country's existing 2 lithium mining projects and 6 new lithium mining projects. It is reported that the above two lithium projects are respectively located in Salar de Olaroz in the northwest of Jujuy Province Province, Argentina, and Hombre Muerto in the northwest of Catama

July 10, 2023

Indonesia Becomes the World's Second Largest Cobalt Producer

According to data from the Cobalt Institute in the UK, Indonesia became the world's second largest supplier of cobalt in 2022, accounting for approximately 5% of the global production of this battery material, according to a report by Mining. com citing Reuters. Cobalt is a key raw material for rechargeable lithium-ion batteries used in electric vehicles. In o

July 10, 2023

IMF demands Indonesia lift nickel export ban

The nickel export ban policy has attracted the attention of the International Monetary Fund (IMF). The Executive Board of the International Monetary Fund recommended that the Indonesian government lift the nickel export ban in stages. This is revealed in the press release released on June 25, 2023 on the website of the International Monetary Fund. The Executiv

July 10, 2023

Australia approves AUD 49 million for key mineral appropriations

On May 18th, the Australian government approved approximately 49 million Australian dollars (32.5 million US dollars) in grants to 13 key Australian mineral projects nationwide to accelerate the development of these projects, which will help diversify the supply chain. A total of approximately $29 million in grants will be awarded to seven projects in Western

July 10, 2023

France, Germany, and Italy to Strengthen Cooperation on Key Raw Materials

On July 2nd, the French, German, and Italian governments jointly issued a statement that they will strengthen cooperation to ensure stable access to key raw materials. According to the statement, the three countries agreed to coordinate proposals in the field of critical raw materials and reached consensus on the proposed amendment to the EU's Critical Raw Materials Act (CRMA). The three countries call for the development of incentive measures to promote strategies and the reuse and recycling of key raw materials, as well as re

July 10, 2023

BMI: Global iron ore production growth will accelerate, with supply growth mainly coming from Brazil and Australia

MiningWeekly, on July 4, the consulting enterprise Benchmark Mineral Intelligence (BMI) recently predicted that the growth rate of global iron ore production will accelerate in the next few years, thus ending the stagnation of iron ore production since it hit a 10-year low of 55 dollars/ton in 2015. BMI predicts that from 2023 to 2027, global iron ore production will experience an average annual growth rate of 2.3%, compared to -0.7% in the previous five years. This will increase