US wants to end Chinese dominance of battery packs
Material intensity in EV batteries going down b report
China ramps up domestic iron ore projects
India pitches to buy extra coal from Russia as MoS visits St Petersburg
Turkish mining giant abandons B#6bn London float amid market chaos
Saudi industry minister encourages French companies to invest in Kingdomb s mining sectors
Worldb s No. 2 gold miner is trying to get bigger in copper
Business groups weigh in on recent mining developments in Panama
Mid Wales mining attractions launch exciting adventure package
Hydro produces hydrogen-powered recycled aluminium in Spain
US wants to end Chinese dominance of battery packs
U.S. Transportation Secretary Pete Buttigieg has said the U.S. must take steps to reduce Chinab s advantage in electric car batteries. Bloomberg reports. According to Buttigieg, the U.S. should set up b its own refineries for critical raw materials.b
U.S. Transportation Secretary Pete Buttigieg has said the U.S. must take steps to reduce Chinab s advantage in electric car batteries. Bloomberg reports. According to Buttigieg, the U.S. should set up b its own refineries for critical raw materials.b (ANP / Associated Press)
He made these statements in an interview during a visit to the summit in Ise-Shima, Japan b along with his counterparts from the G7 countries. Butiguek also believes that the United States should build better relationships to guarantee the supply of raw materials. b
China
The mining and refining of key raw materials for electric cars is mostly done in China, Buttigieg says. b America must work to develop an economically sound, environmentally and geopolitically sustainable strategy to incorporate those key elements into the American economy.b
Material intensity in EV batteries going down b report
A recent report by IDTechEx found that even though there is a trend to reduce the number of materials that provide core functionality to the battery pack, the rapidly growing EV market means that demand for such materials will continue to grow.
Among the materials analyzed in the report are aluminum, steel, copper, lithium, cobalt, nickel, manganese, electrolyte, iron, phosphorous, binders, casings, carbon black, silicon, separators, carbon nanotubes, carbon fibre-reinforced polymer, among others.
The whitepaper explains that much of the development to increase EV batteriesb energy density is coming from how the cells are packaged together. In general, this means that the materials being used throughout the pack are decreasing in quantity.
b The key for all of these materials is reducing weight and costs. But for everything inter-cell, being multi-functional is becoming increasingly important,b the dossier reads. b With a reduction in ancillary materials and structure within the pack, inter-cell materials have to carry out more functions. While it has been typical to apply multiple layers of materials to provide thermal and electrical insulation, compression, and fire protection, new materials will need to provide several of these functions. While these may cost more alone, they could replace multiple other materials leading to simplified manufacturing and a reduced system cost.b
Tokyo | Chinab s state planner says it will streamline and speed up the approval process for domestic iron ore projects as part of the governmentb s ambition to reduce dependence on the key steel-making ingredient from Australia.
Top officials from the National Development and Reform Commission (NDRC) also said tax cuts, quicker safety approvals and other measures were being adopted to accelerate domestic iron ore production.
Lu Weiei, a senior official with the NDRCb s Industry Department, told a conference last week that construction had started on six key iron ore projects which would add another 27.7 million tonnes to Chinab s domestic iron ore production.
He said that investment in iron ore had increased by 33.3 per cent in 2022, and that more than 20 iron ore projects would start construction this year and in 2024. Iron ore production capacity would increase by 170 million once all the new planned projects were completed, although no time frame was given.
b This reflects the strengthening of policy coordination, the improvement of the investment environment, and clear market expectations which have boosted the investment confidence of market players,b Mr Lu said, according to an excerpt of his speech published online.
China is determined to reduce its dependence on Australian and Brazilian iron ore, which accounts for most of its steel-making needs. The Chinese government drafted a five-year plan in 2021 to invest in new mines offshore.
Chinab s 2021 plans also included boosting domestic iron ore production by 30 per cent and increasing scrap steel recycling. It also wants greater control over iron ore prices following sharp increases in recent years, which have boosted profits for Australian miners.
India pitches to buy extra coal from Russia as MoS visits St Petersburg
India has pitched to purchase additional consignments of coal from Russia, raising the possibility that the commodity may become the second biggest item of import from the resource-rich country after crude oil, said officials.
Union minister of state for steel and rural development Faggan Singh Kulaste met the governor of Kuzbass, Sergey Tsivilyov, on the sidelines of the St Petersburg International Economic Forum (SPIEF) on Thursday and discussed deepening of bilateral cooperation in the coal sector, an official told ET.
Kuzbass is the leading coal-producing region in Russia. The region's economy is based on exports of raw materials and the main industries are coal and metals.
Turkish mining giant abandons B#6bn London float amid market chaos
Cancellation of the anticipated listing is a blow to the Cityb s effort to compete globally
The worldb s largest natural soda-ash producer has scrapped its $7.5bn (B#5.9bn) London listing amid market chaos triggered by stubbornly high inflation.
WE Soda, the UK-based group that produces the glassmaking ingredient, said it was cancelling its planned float owing to b extreme investor caution in Londonb that prevented it from achieving its expected valuation.
The company, which is controlled by Turkish media mogul Turgay Ciner, previously said it was seeking a valuation as high as $8bn, which would have made it large enough to feature in the FTSE 100.
The decision to abandon the IPO comes after government borrowing costs surged in recent days, with traders increasing bets that the Bank of England could raise interest rates as high as 6pc.
The move will also come as a major blow to the London Stock Exchange (LSE), which has struggled to attract major listings in recent years and suffered a bruising twelve months.
Saudi industry minister encourages French companies to invest in Kingdomb s mining sectors
RIYADH: In a bid to attract French companies to invest in Saudi Arabiab s mining sector, the Kingdomb s Minister of Industry and Mineral Resources held a meeting with leading business figures at the headquarters of the Chamber of Commerce in Paris on Tuesday.
An array of promising funding opportunities were discussed as Bandar Alkhorayef met multiple officials from French firms and expressed the Kingdomb s keenness to facilitate investment, according to the Saudi Press Agency.
Alkhorayefb s visit is part of Saudi Arabiab s efforts to bolster the role of the mining and industrial sectors in the national economy and increase their contribution by attracting foreign investment.
The minister is in Paris to attend Vision Golfe, a landmark business event showcasing opportunities for commercial partnerships between France and the Gulf states that began on June 13.
It is a new platform promoting business cooperation in high-growth potential markets in both private and public sectors such as trade, sports and energy.
Key economic players, government ministers, and small business managers will have the opportunity to meet and exchange views in the two-day event, as well as representatives from start-ups and senior executives.
Worldb s No. 2 gold miner is trying to get bigger in copper
For a company with b goldb in its name, Barrick Gold Corp. has become noticeably fixated on copper.
The worldb s second-largest bullion producer recently approached First Quantum Minerals Ltd. to discuss a potential takeover, Bloomberg reported last week. And while the move was unsuccessful b Barrickb s informal overtures were rebuffed b its interest in buying a $17 billion copper miner provides the starkest evidence yet of a shifting focus at the company whose origins lie in Nevadab s gold veins.
Mark Bristow, Barrickb s swashbuckling chief executive, has talked for years about his desire to grow in copper. Now, the emphasis may be taking on a greater urgency: Barrickb s gold production has dropped to multi-decade lows, while longstanding industry rival Newmont Corp. recently announced a huge acquisition that will catapult it well out of Barrickb s league in gold.
While gold companies historically prided themselves on being b pure playsb for investors wanting exposure to bullion prices, Barrick sees copper as a strategic commodity underpinned by the demand for electrification. Itb s often found alongside gold in orebodies, and can be processed using similar methods.
Copper is critical b if you want to be relevantb in mining, Bristow said on the companyb s latest earnings call. b As a gold miner, youb re going to have to grow and include copper in your portfolio.b
Already, the Canadian minerb s biggest investment project is a $7 billion copper-gold project in Pakistan, which Barrick plans to start up in 2028 and could operate for at least four decades. Itb s also studying an expansion at its Zambian copper mine, while scouring for new deposits across the Middle East, Asia and Africa.
Business groups weigh in on recent mining developments in Panama
The Mining Chamber of Panama (Camipa) issued a statement applauding the Cabinet Councilb s approval of a new contract between First Quantum Minerals (TSX: FM) and the Panamanian state over the Canadian companyb s giant Cobre Panama copper mine.
b This development is a milestone in the responsible and inclusive use of our enormous mineral wealth. We hope [the contract] soon becomes law,b the communiquC) reads. b In this day and age, it is important to highlight the example set by Cobre Panama, which has proven that responsible mining can be an engine for the sustainable development of the country as a whole and of specific communities.b
The contract still needs to be ratified by the Comptroller General and Parliament before its promulgation by the Executive. Among other things, it authorizes a 20-year, renewable mining concession and sets up a minimum income of $375 million for the National Treasury, as well as broad monitoring powers of the operation by state authorities.
The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) also released a statement related to the new contract saying that, based on the difficulties First Quantum Minerals and the government went through to get to this point, it is important to develop a new Mining Code.
b The country needs to define a mining policy through a new Mining Code, which should establish specific parameters for metallic and non-metallic mining, leaving behind obsolete practices and proposing mechanisms to carry out responsible mining. Such mechanisms should be reviewed and updated on an ongoing basis so that we can move toward the modernization of the industry,b CCIAPb s statement reads.
Mid Wales mining attractions launch exciting adventure package
Two Mid Wales attractions are combining to offer an exciting adventure package based on the regionb s rich lead and silver mining heritage.
The package combines the fascinating history of The Silver Mountain Experience, a popular visitor attraction near Ponterwyd b between Llangurig and Aberystwyth b with the ultimate underground adventure into the depths of the Deep Mine Experience, led by specialist tour guide Mid Wales Mine Adventures.
Visitors embark on a day of adventure, with a visit at The Silver Mountain Experience to discover how miners lived and worked. They will then spend two-and-a-half hours exploring the depths of Cwmystwyth Mines, entering underground locations left untouched since they closed more than 100 years ago.
Explorers will enter the Great Level Fawr at Cwmystwyth Mines, discovering huge chambers, stopes and a labyrinth of meandering passages, as well as original artefacts and relics left since the mine was abandoned.
Simon Pickard, The Silver Mountain Experienceb s managing director, said: b We are thrilled to be working with the amazing team at Mid Wales Mine Adventures on this exciting new offering.
Hydro produces hydrogen-powered recycled aluminium in Spain
Through the test, the differences affecting the metalb s melting and process and quality were also being examined.
Norwegian aluminium company Hydro has produced green hydrogen-fuelled recycled aluminium as part of a test at its extrusion plant in Navarra, Spain, via its subsidiary Hydro Extrusions.
The company claims the development to be a world first.
It used carbon-free hydrogen as a replacement for natural gas as fuel for aluminium recycling in the test, which was conducted by hydrogen experts from subsidiary Hydro Havrand, in association with hydrogen technology provider Fives.
Fives designed and supplied the key components and controls needed for the safe operation of the system.
Hydro Extrusions executive vice-president Paul Warton said: b We are excited to be conducting this test and it demonstrates Hydrob s commitment to decarbonisation. By removing the carbon emissions from the energy source, we will be able to produce carbon-free aluminium from recycling post-consumer scrap.b
Hydro stated that the test provided new insights on switching fuel from natural gas to hydrogen and its impact on the quality of metal.
Hydrogen has a different behaviour and burns at a different temperature compared with natural gas.
Through the test, the differences affecting the metalb s melting and process and quality were also examined.
The test was necessary for maturing the fuel switch to hydrogen in aluminium production.
Hydro stated that its results are also relevant in using hydrogen in primary aluminium casthouses and in other high-temperature processes such as glass or cement.
