U.S. coal mining jobs sunk to record lows, and the mining sector in general has hemorrhaged jobs since the start of the coronavirus pandemic. As well as the many highlights discussed in the interviews, a number of the world’s biggest metals and mining companies have publically set themselves hard targets to improve their gender balance. India’s Tata Steel aims to have 25% women in its workforce by 2025, compared with 17% currently, according to its latest annual report. Fortescue’s new 30 million mt/year capacity Eliwana mine has just produced its first ore. Next year, Rio Tinto will start its new 43 million mt/year Koodaideri mine to keep up its flagship Pilbara Blend product, as supply at older mines is depleted. Forecasts are not carved in stone, of course, and are subject to revisions as market conditions change and new information emerges. Meanwhile, Trump administration policy objectives that could fuel domestic demand for metals, such as an infrastructure program, have yet to manifest. The technologies will allow for the development of low-carbon extraction of lithium from zinnwaldite and polylithionite mica ores in the St Austell region. Box 6219     102 34 Stockholm Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals and Mining … But planned capacity and actual production are two different things. Some 62% of participants said iron ore prices would remain above $120/mt CFR China in Q1, […]. Mining for Gold and Other Metals in 2021 and Beyond December 7, 2020 At the end of any year and certainly this one, the lucrative gold mine investment goes on the gift list. Manufacturing has recovered strongly in recent months and global supply chains have been restored, helping China’s exports to resume. Damage to facilities is not uncommon. As it turned out, Rio Tinto and BHP were 5-10 years too late in their predictions. Vale, the biggest iron ore miner, this month cut production guidance for 2020, while industry sources see strong iron ore demand in China, and tight pellet availability keeping near-term prices up. On the day this blog was written, the S&P Global Platts IODEX 62% Fe benchmark stood at $160.70/mt CFR China, 70% higher on the year before. Even with higher steel prices, the potential for margins to support iron ore prices and higher pellet premiums could be limited, a steel group executive said Dec. 14. In other words, a lot of tons of iron ore depend on successful tie-in work, commissioning and ramp-up of new projects. However, scarcity of supply remains a concern as demand recovery across sectors resurfaces after a long period of subdued activity. As steel output recovers from weaker rates in the second quarter, and China reduces steel and metallics imports and reassumes net export steel trade, spot steel prices may start to fall back, a steel mill source said. Bumper profits incentivized Chinese mills to build new capacity and lift output. Australian and Brazilian expansions, accompanied by millions of new tons from Africa, will swamp the market; scrap will increasingly displace iron ore; and prices will return to their historically low levels.”. We are a comprehensive, electronic news gathering and translating service for breaking-news in the Mining, Metals, Oil, Gas and Energy sectors in Russia and the surrounding Republics. Most participants saw exports at 60 million-80 million mt in 2021, while only 12% saw them higher than this level. Economic Commentary; Economic Calendar; Global Economies; Saturday - December 12, 2020 Metals and Mining News The investment objective of the company is to provide long-term capital appreciation and monthly cash distributions. More Interest Rate Drops Possible:BoC . Mobile App Our Services News publishing, tag articles Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411 16/12/2020 - 16:27. BHP in 2016 set a goal to achieve 50% female participation across its workforce by 2025. 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. Some 62% of participants said iron ore prices would remain above $120/mt CFR China in Q1, with a further 26% seeing them in the $110-$120/mt range. Fortescue also has plans to lift capacity at Port Hedland by an additional 20 million mt/year, while BHP has similar plans to increase throughput at the port. In fact, Rio Tinto and BHP have both flagged maintenance work in calendar Q4 as being likely to impact iron ore production. Metals turn into insulators using a new quantum switch. These can include weather events and environmental factors, operational outages and disasters, government policy changes (especially in China)—and heavens above, a global pandemic. “We wonder how long Chinese iron ore consumers will simply sit back and accept the high prices,” Commerzbank said. Long overdue change is now happening in the industry, but there is still much work to be done, thirteen exceptional female leaders told S&P Global Platts. Commodity forecasting is a difficult business at the best of times. In 2019, out of 66 companies belonging to the steel or metals and mining sectors that provided information on their workforce gender split, total female participation ranged from 3% to 29%. Read the latest gold prices as well as short and long-term forecasts for other key metals. john@conventus.se, International news within the industry of mining and metal, Dec, 18 2020, Norway ready to increase production of vanadium and phosphates in years to come, Russian coal producers ready to withdraw Australian rivals from China, Finland may become a new center of gold production in Europe, Global diamond producers hope for recovery of market in 2021, Metso Outotec to modernize Norilsk Nickel’s smelting line in Russia. Given the recovery in other steel markets, China’s finished steel exports are tipped to increase next year. The Platts 62% Fe iron ore fines benchmark has risen 30% since the start of November, hitting a seven-year high of $160.70/mt CFR North China on Dec. 11. Taken together, these drivers point to upward support rather than downward pressure in the iron ore market, in the short-to-medium term at least. 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. It is planning to immediately proceed towards bulk metallurgical testing and the construction of a pilot plant using the so-called L-Max and LOH-Max technologies. One of these projects is the ‘Mining and Metals Blockchain’ initiative, a new project designed to “more accurately trace emissions across the value chain using distributed ledger technology” according to a WEF news release. “This potentially gives the UK security of supply.”. Cornish Lithium said Dec. 7 the tests were carried out using fellow lithium explorer Lepidico’s proprietary technology on samples obtained during a hard rock drilling program this year within an existing open china clay pit at Trelavour. 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 … Rio Tinto has been beset by operational issues this year, and has downgraded its full-year production guidance more than once. Bill Matlack Tuesday December 15, 2020 15:25. Based on both actively participating companies and publically available information, in 2019 only 40 out of 88 companies in the sector had a board diversity policy that included gender factors.*. Investors have walked away from thermal coal, and many are snubbing metallurgical coal. But the consensus continues to be that iron ore prices will fall markedly in coming years. In the last four years, it has managed to raise the overall proportion from 17.6% to 24.5%. 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. The World Economic Forum’s (WEF) Mining and Metals Blockchain Initiative has launched a proof of concept for its Carbon Tracing Platform, named the COT. Granted, there is always a crystal ball element to price forecasting. The midpoint value is typically 2%-5% lower than the underlying spot physical price. When Chinese steel output seemed to go into reverse from 2014, the view was that Chinese steel consumption and output had peaked. There is... @PlattsOil: Join S&P Global on September 17th to discuss the tumultuous oil events,... PlattsOil: Sign up now: Do you know how price assessements work at S&P... S&P Global Platts IODEX 62% Fe fines benchmark.  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