Democrats seek Justice probe of Pebble mine in Alaska
Saudi Arabia aims to be global hub for green minerals: Saudi Vice-Minister for Mining Affairs
Local, Int’l Consortium Wins Exploration License for West Saudi Arabia’s Umm Ad Damar
AVZ vs Zijin: the fight for the world’s biggest lithium deposit
Two companies are at odds over rights to a 15 per cent stake in a massive mine in central Africa
The tussle is over a mineral that is central to the future of the green economy
The Manono lithium mine is believed to have the world’s biggest deposit of the resource
The discovery of a gigantic deposit of lithium had raised hopes for the sleepy town of Manono in the southeast of the Democratic Republic of the Congo after a tin boom went bust years earlier.
Australia-based AVZ Minerals announced in 2019 that the Manono lithium-tin project in the DRC probably had the world’s largest untapped lithium deposit, with estimates of 400 million tonnes of lithium ore.
Lithium is essential in making rechargeable batteries for phones and electric vehicles, and is in high demand as countries around the world make the shift to green energy.
The stakes are huge and the rewards are great. But infighting and legal battles among shareholders for control of the Manono site is putting the project on hold.
Growing economic needs, Chinese ambition, and hard cash are giving China a stronger and stronger foothold in Latin America. The underlying reasons for China’s success include China’s domestic demand for Latin American agriculture and mining and raw materials, and the U.S.’s inability to take a concerted interest in the region, along with the political turmoil in Washington. The old idea, enshrined in the Monroe Doctrine, that Latin America is “America’s backyard,” over which it could dominate, has been relegated to the dustbin of history.
The Monroe Doctrine Has Been Replaced
It is hard not to be impressed by the extent of China’s growing economic footprint in the region. Last year, China’s trade with Latin America reached $450 billion compared to $180 billion in 2010. According to the World Economic Forum, “on the current trajectory, LAC-China trade is expected to exceed $700 billion by 2035, more than twice as much as in 2020.”
Peruvian Indigenous community wants to become a shareholder in Las Bambas
Representatives from the Huancuire community, located in Peru’s south-central Apurimac department, are considering the idea of applying the Indigenous concept of ‘waqui’ when it comes to their relationship with Chinese miner MMG and its Las Bambas copper mine.
Talking to local media, Romualdo Ochoa, president of Huancuire, explained that in the Quechua language ‘waqui’ refers to a principle of negotiation where “you win, I win, we both win, and everybody wins.”
Ochoa said that, in other words, community members would like to become individual shareholders in Las Bambas to guarantee the financial stability of their families, as well as have their voices heard when it comes to protecting the natural environment that surrounds the operation.
The community leader pointed out that when the initial land negotiation with MMG took place in 2013, all documents were written in Spanish and not in Quechua and therefore, many community members were unable to truly understand what they were agreeing to.
Barrick CEO says Zambia’s Lumwana mine life could be extended to 2060
Barrick Gold Corp said promising drill results could see the life of its Zambian Lumwana copper mine extended to 2060 from 2042, its Chief Executive Officer Mark Bristow said on Wednesday.
Speaking at a media briefing at the mine, Bristow said since 2019 Lumwana’s fortunes had been turned around, making it one of Zambia’s largest copper producers.
He said a new mineral royalty tax regime, which is scheduled to come into effect in January next year, would unlock additional free cash flow for the company.
To attract investment and ensure increased production, Zambia’s government has planned to restructure the mineral royalty tax with regard to copper.
Zambia earns 70% of its export earnings from mining and has pledged to review its mining tax policy and increase exploration to boost and diversify production.
Asked if Barrick, one of southern African nation’s largest copper producers – and the world’s second-biggest gold miner – had an interest in investing in Zambia’s Mopani Copper Mines, Bristow said the miner was open to opportunities.
“We will look at all opportunities that come our way,” he said.
Zambia is looking for an outside investor to reinvigorate Mopani Copper Mines, which needs a big cash injection to ramp up production.
Mopani, a large mine and smelter complex, is looking for new investors after Glencore sold the asset to state mining investment company ZCCM-IH in January last year.
A new Brazilian government under president-elected Luiz Inácio Lula da Silva could mean more environmental responsibility, according to a group representing the mining cities of the country.
Leftist former Brazilian President Lula was elected this Sunday for a third presidential term, winning over far-right incumbent Jair Bolsonaro.
“In the last four years, there has been a reduction in environmental protection. Amazon today is no man’s land,” said Waldir Salvador, institutional relations consultant at the Associacao dos Municipios Mineradores do Brasil, which represents 70% of the country’s mineral production.
“The truth is that the current government that is coming to an end has practically not changed the reality of what was being practiced with public mining policies in Brazil. Mining in Brazil has been neglected for a long time,”
Democrats seek Justice probe of Pebble mine in Alaska
House Democrats want the Justice Department to investigate allegations the former head of a group pushing a proposed copper and gold mine in Alaska lied to Congress about the size and scope of the project.
A report released Friday concluded Tom Collier, the CEO for the Pebble Limited Partnership from 2014 to 2020, misled lawmakers when he told them during a 2019 hearing that the group had “no current plans” to expand the size of the project or extend its 20-year duration.
His assertion was at odds with internal emails and other documents the House Transportation and Infrastructure Committee majority obtained indicating company executives touted a larger, longer project to investors.
Friday’s report is the latest development in a 15-year debate over the proposed project near Bristol Bay in southern Alaska that has drawn national attention. The area is home to the world’s largest wild sockeye salmon fishery, and many environmentalists and indigenous groups have opposed the prospect of the mineral mine near precious natural resources.
Vancouver-based Northern Dynasty Minerals Ltd. owns the Pebble partnership.
Saudi Arabia aims to be global hub for green minerals: Saudi Vice-Minister for Mining Affairs
RIYADH: Saudi Arabia’s ambition is to be a global hub for green minerals and related technologies, according to Khalid Al-Mudaifer, the vice-minister for mining affairs.
Speaking at the Future Investment Initiative, Al-Mudaifer warned that without minerals, there will not be the decarbonization needed to tackle climate change.
He outlined two main challenges the world needs to address to get more minerals, namely to discover and produce enough minerals and for societies to allow minerals to be produced.
Al-Mudaifer said: “In Saudi Arabia, we have the leadership commitment, vision, minerals, energy, renewable and hydrocarbon, and the investment drive and risk taking to invest and scale up new technologies as we are doing in the green hydrogen technology.”
“Minerals now are the medicine to heal our planet,” he noted.
Local, Int’l Consortium Wins Exploration License for West Saudi Arabia’s Umm Ad Damar
Maaden-Barrick consortium showed commitment to the Kingdom's goals in terms of accelerating exploration as well as commitment to community and environmental development
Saudi Arabia's Ministry of Industry and Mineral Resources announced that a consortium consisting of Saudi Arabian Mining Co. (Maaden) and Barrick Gold T7 Ltd won Umm Al-Damar exploration license.
The site is 300 km northeast of Jeddah and 25 km northwest of Mahd Al Thahab city, on the Jabal Sayid mining belt.
This is the second bid offered by the ministry, as part of plans to offer some exploration licenses under the umbrella of the accelerated exploration initiative.
The ministry stated that more than 20 local and international mining companies competed for this exploration license, 13 of which were prequalified for bidding.
The ministry received two bids for the license, after fulfilling the prequalification criteria, most important of which are technical expertise, financial ability, and commitment to community and environmental management plans as well as related programs.
Maaden-Barrick consortium showed commitment to the Kingdom's goals in terms of accelerating exploration as well as commitment to community and environmental development.
According to the ministry, the bidding witnessed strong competition among international mining companies, and the consortium affirmed its commitment to meeting the evaluation criteria set by the ministry, in line with the mining investment system and the objectives of the mining project.
