Новости за 26.05.2022

Glencore has closed the “cash desks” in London and Switzerland that once dispensed money for bribes. Employees implicated in sweeping, cross-border corruption investigations are gone. New safeguards are in place, and boss Gary Nagle says it’s a “different company.” Now he will have to prove it. Glencore this week agreed to plead guilty to a web of bribery and price manipulation charges that stretch from Venezuela to Nigeria and Los Angeles in deals with the US, UK and Brazil. The penalties will... Читать дальше...

China’s demand for thermal coal is likely to keep falling through the rest of the first half, as virus restrictions continue to mire the economy in a deep slump. Alongside measures to boost output and build stockpiles, that’ll give China a better chance of satisfying peak power demand over the summer, when air-conditioning needs are at their height, and retaining enough of a buffer to keep industry supplied into the autumn. A shortage of coal in the fall of 2021 contributed to unprecedented blackouts... Читать дальше...

Copper prices fell for a third day in a row on Thursday and tin slumped to a one-week low as a gloomy economic outlook for top metals consumer China fanned concerns about a global recession, though a soft US dollar lent some support. Three-month copper on the London Metal Exchange was down 0.3% at $9 343/t as of 07:24 GMT. The most-traded July contract on the Shanghai Futures Exchange ended daytime trading 0.5% lower at 71 080 yuan ($10 562) a tonne.

JSE-listed integrated resources group Tharisa has reported a “cash-generative performance” and an increase in production for the six months ended March 31, despite material increases in one of the company’s major input costs – diesel – which continues to rise. Tharisa has positioned itself in the energy transition and decarbonisation of economies. The group’s operations include mining, processing, exploration and the beneficiation, marketing, sales and logistics of platinum group metals (PGMs) and chrome concentrate.

TSX-V-listed Sierra Madre Gold and Silver on Wednesday announced that it would buy the high-grade, past-producing underground La Guitarra silver/gold mine, in Mexico, from First Majestic Silver. The fully permitted La Guitarra mine and 500 t/d mill would advance Sierra Madre’s goal towards becoming a mid-tier precious metals company, said president and CEO Alex Langer.

Aim- and AltX-listed Jubilee Metals has appointed Manuel Lino Silva de Sousa Oliveira (Ollie) as independent nonexecutive director, effective immediately, and as independent nonexecutive chairperson, effective June 1. He will succeed nonexecutive chairperson and founder Colin Bird, who decided late in 2021 to retire from the board.

K+S Potash Canada (KSPC) on Wednesday unveiled its long-term growth plan for the Bethune mine, in Saskatchewan, announcing that it would effectively double production capacity over the next couple of decades towards four-million tonnes a year. “Saskatchewan has the food, fuel and fertilizer the world needs, and we are thankful for partners like K+S who will continue to play an important role in sustainable food security conversations world-wide,” said Premier Scott Moe.

Green energy developer Fortescue Future Industries (FFI) will join forces with quantum computing net-zero initiative Qlimate to explore quantum solutions in the field of green hydrogen. FFI will become a foundational member of the “Qlimate Initiative” to explore quantum computing solutions in green hydrogen.

Elon Musk wants to mine it, China is scouring Tibet for it, battery makers are crying out for it. Lithium, the wonder metal at the heart of the global shift to electric cars, is in a full-blown crisis. Demand has outstripped supply, pushing prices up almost 500% in a year and hindering the world’s most successful effort yet to halt global warming. The shortage of lithium is so acute that in China, which makes about 80% of the world’s lithium-ion batteries, the government corralled suppliers and... Читать дальше...

The Competition Tribunal has approved the deal whereby coal miner Seriti Resources Holdings, through its Seriti New Largo subsidiary, intends to acquire the shares of New Largo Coal currently held by the Industrial Development Corporation (IDC) of South Africa. Seriti New Largo is a wholly-owned subsidiary of Seriti Resources.

Exploration and development company US Gold cofounder Luke Norman has been appointed chairperson of the company, following a board resolution to increase its size from five to six members. George Bee, who has held the chairperson position since March 2021, will remain as president and CEO of US Gold.

Coal miner New Hope lost some 20 354 working hours during the three months to April, owing to severe weather conditions and Covid-related labour shortages at its 80%-held Bengalla operations, in New South Wales. New Hope on Thursday reported that coal production during the three months to April had declined by 27.7%, to 1 924 t, compared with the 2 660 t in the quarter ended January. In the year to date, coal production fell 23.9%, from 10 030 t to 7 628 t, compared with the previous corresponding period.

ASX-listed Australian Vanadium has inked a memorandum of understanding (MoU) with renewable energy developer North Harbour Clean Energy (NHCE) for the potential development of energy storage projects. Through its subsidiary VSUN Energy, Australian Vanadium help to facilitate development of vanadium redox flow batteries (VRFBs) into existing and future projects being developed by NCHE.

Years of under-investment in mining of metals essential to energy transition, supply shocks and high energy prices will continue to drive commodity prices higher, Eurasian Resources Group (ERG) CE Benedikt Sobotka said on Wednesday. Combined with Covid-related logistical issues and demand for transparency on sustainability these factors have brought together "all the ingredients for a perfect storm in commodity markets," he told the Reuters Global Markets Forum in Davos.