Новости за 14.03.2022

An international group of researchers, led by geologists from the University of the Witwatersrand (Wits), have found that the Bushveld Complex in South Africa functioned as a “big magma tank” in the Earth’s crust in ancient years. In a paper published in Scientific Reports, the scientists confirm that large, long-lived and entirely molten magma chambers did exist in the crust of the Earth.

China plans a massive increase in coal mining, a move that will dramatically reduce its reliance on imports and deal a blow to its near-term climate actions. The National Development and Reform Commission (NDRC), the nation’s top economic planner, told officials from major mining regions at a meeting late last week that it wants to boost domestic production capacity by about 300-million tons, according to people familiar with the matter. It also plans to build a 620-million-ton stockpile of the fuel split between government, miners and users.

Palladium’s wild ride following Russia’s invasion of Ukraine is likely not over yet. But this year’s stunning gains are looking fragile on signs exports will be maintained and that demand from automakers could suffer. The metal -- about 40% of which is mined in Russia -- shot to a record high last week due to nervousness over restrictions on the country’s banks and concern that flight bans would make it difficult to supply global customers.

JSE-listed MC Mining posted a narrower loss after tax of $800 000 for the six months ended December 31, 2021, compared with the $2.7-million loss after tax posted for the six months ended December 31, 2020. Revenue of $13-million and cost of sales of $10.9-million resulted in a gross profit of $2.1-million for the period.

Mining major Rio Tinto has made a non-binding proposal to acquire the remaining 49% interest in Turquoise Hill Resources for $2.7-billion. Under the terms of the proposed transaction, Turquoise Hill minority shareholders would receive C$34 in cash per Turquoise Hill share, representing a premium of 32% to Turquoise Hill’s last closing share price on the Toronto Stock Exchange.

Dual listed Aura Energy will raise A$8.8-million in a share placement to advance its Tiris uranium project, in Mauritania. Shareholders approved the issue of some 35.2-million shares, at a price of 25c each, at the company’s annual general meeting in December. The offer price represented a 20% discount to Auris’ five-day volume weighted average share price.

Bullion major Barrick Gold’s interest in explorer and developer Reunion Gold has fallen below 10%, after the company did not participate in the junior’s bought-deal private placement offering. Barrick now owns about 9.9875% of the shares of Reunion, which focuses on the Guinea Shield in South America.

US regulators are warming to approving new domestic sources of electric vehicle battery metals, as Washington bids to avoid a reliance on strategic minerals imports similar to that on crude oil. US Energy Secretary Jennifer Granholm and other officials speaking at this week's CERAWeek energy conference in Houston said the need to domestically produce more metals is rising as EVs go mainstream, but that new mines must not harm the environment. Granholm told conference attendees she would work to... Читать дальше...

One of Brazil’s largest hedge fund managers is betting on rising prices for precious metals after the US and other allies imposed financial sanctions on Russia in response to its invasion of Ukraine, including the freezing of certain central bank assets. SPX Capital, which manages about 64-billion reais ($12.7-billion), built a long position in precious metals, especially gold, during the past few weeks, Ylan Adler, a partner and head of commodities at the firm, said in an interview.

US Senators sent a bipartisan letter to the Biden administration Friday afternoon asking the President to invoke the Defense Production Act to accelerate production of battery materials that are needed to power electric vehicles. The letter, signed by Democrat Joe Manchin and Republicans Lisa Murkowski, James Risch and Bill Cassidy, said doing so would bolster America’s critical mineral supply chains by ensuring responsible mining and sourcing. The letter comes two weeks after President Joe Biden... Читать дальше...

Russia’s invasion of Ukraine, and the subsequent volatility in the nickel market, has resulted in a delay in ASX-listed Independence Group (IGO’s) takeover of fellow listed Western Areas. Western Areas on Monday told shareholders that in response to the recent significant nickel price volatility, which led to the temporary and currently ongoing suspension of nickel trading on the London Metals Exchange on March 8, Western Areas and the independent expert are continuing to consider the implications... Читать дальше...

The Australian government has allocated A$5.8-million to a new three-year investment partnership with India, which could unlock mutual benefits for both countries from Australia’s world-leading critical minerals sector. “Australia and India are natural partners sharing mutual strategic and economic priorities and this partnership will support further Indian investment in Australian critical minerals projects,” Minister for Resources and Water, Keith Pitt said.

Diversified miner BHP has pledged $5-million in funding to support the humanitarian needs of Ukrainians remaining in Ukraine, as well as those seeking refuge in neighboring countries, amid Russia’s invasion. The BHP Foundation will donate $2-million to the United Nations High Commission for Refugees’ (UNHCR) coordinated response to provide shelter, food and access to medical care for the four-million Ukrainian refugees expected to seek refuge from the conflict in neighbouring countries in coming months.