Monday 5th December 2016

Resource Clips


Posts tagged ‘bauxite’

March 9th, 2016

PDAC 2016 convention exceeds 22,000 attendees Equities.com
Five tests for the commodities bounce NAI 500
The gold bull market is back. Will it last? GoldSeek
VSA Capital’s Paul Renken on gold and lithium companies Streetwise Reports
Bauxite and alumina: No light at the end of the refractories tunnel Industrial Minerals
Lithium prices experiencing strongest ever surge Benchmark Mineral Intelligence
Electric car war sends lithium prices sky high Stockhouse

March 8th, 2016

VSA Capital’s Paul Renken on gold and lithium companies Streetwise Reports
Bauxite and alumina: No light at the end of the refractories tunnel Industrial Minerals
An exciting time for gold GoldSeek
Lithium prices experiencing strongest ever surge Benchmark Mineral Intelligence
Electric car war sends lithium prices sky high Stockhouse
Canadian gold miners keen to tap equity market as gold price pops NAI 500
Is the deflation trade over? Equities Canada

March 7th, 2016

VSA Capital’s Paul Renken on gold and lithium companies Streetwise Reports
Bauxite and alumina: No light at the end of the refractories tunnel Industrial Minerals
An exciting time for gold GoldSeek
Lithium prices experiencing strongest ever surge Benchmark Mineral Intelligence
Electric car war sends lithium prices sky high Stockhouse
Canadian gold miners keen to tap equity market as gold price pops NAI 500
Is the deflation trade over? Equities Canada

March 4th, 2016

Bauxite and alumina: No light at the end of the refractories tunnel Industrial Minerals
An exciting time for gold GoldSeek
Lithium prices experiencing strongest ever surge Benchmark Mineral Intelligence
Electric car war sends lithium prices sky high Stockhouse
How to take advantage of a possible upswing in gold in all currencies Streetwise Reports
Canadian gold miners keen to tap equity market as gold price pops NAI 500
Is the deflation trade over? Equities Canada

Indonesia ban rocks nickel market

January 13th, 2014

by Frik Els | January 12, 2014 | Reprinted by permission of MINING.com

Indonesia rocked the mining world on January 12, putting into effect an outright ban on nickel, bauxite and tin ore exports.

The Asian nation is the world’s premier thermal coal and tin exporter and is also a gold and copper powerhouse, but the ban on nickel and bauxite ore would have the most dramatic effect on markets.

Last week Indonesian energy and resource ministry officials scrambled to ease provisions of the raw mineral export prohibition that President Susilo Bambang Yudhoyono signed into law on January 12, the most controversial decision of his 10-year presidency.

Indonesia dominates the nickel export business, accounting for over a fifth of global supply at an estimated 400,000 tonnes of contained metal. Chinese nickel pig iron producers imported more than 30 million tonnes of nickel ore from Indonesia last year and China’s aluminium smelters rely on Indonesia for 20% of their feedstock.

According to the latest rules under the ban, base metals including copper, manganese, lead, zinc and tin will be allowed to be exported in concentrate until 2017.

This benefits producers like Freeport-McMoRan Copper & Gold NYE:FCX, which operates the world’s third-largest copper mine at Grasberg in the West Papua province and warned about a 60% drop in output should copper form part of the ban. Phoenix-based Freeport-McMoRan and Newmont Mining NYE:NEM together account for 97% of Indonesia’s copper exports.

[The ban] is the biggest supply risk facing base metals in a long time. The market has been very complacent, thinking the Indonesians would backtrack.

However against expectations of a last-minute climbdown by authorities, the nickel and bauxite ore ban, as well as the prohibition of unprocessed exports of tin, chromium, gold and silver, went into effect January 12.

FT.com quoted Gayle Berry, base metals analyst at UK bank Barclays earlier as saying the ban “is the biggest supply risk facing base metals in a long time. The market has been very complacent, thinking the Indonesians would backtrack.”

Privately owned Ibris Nickel last week announced it will cease operations in Indonesia, laying off 1,400 workers at its two-million-tonne-per-year mine. The nickel industry employs some 200,000 Indonesians across hundreds of small-scale operations.

Reuters reports the Indonesian Mineral Entrepreneurs Association said it planned to challenge the ban in the Supreme Court and Constitutional Court while almost 30,000 mine workers have been laid off, sparking protest in the capital Jakarta:

“We call on all mining workers to prepare to go on the streets and swarm the presidential palace if the government goes ahead with the implementation of the ban,” said Juan Forti Silalahi of the National Mine Workers Union in a statement on January 11.

So far the price of nickel has not reacted in a big way to the looming ban, but now all bets are off.

 

 

Three-months nickel on the LME retreated more than 20% in 2013 from opening levels of $17,450 and, after hitting a high of $18,700 in February, dropped to a four-year low in October amid an oversupplied market.

After a brief uptick in December to over $14,200, the steelmaking raw material last week fell back to the mid-$13,000s and on January 10 the contract closed at $13,725.

Even without the Indonesian ban, the prospects for nickel aren’t rosy.

Global output is forecast to rise for the first time to over two million tonnes in 2015. That’s up from 1.4 million tonnes in 2007.

Stockpiling of ore and metal in anticipation of Indonesian disruptions and the inexorable rise of nickel warehouse levels over the past two years—hitting a record 260,000 tonnes last week—have also kept prices subdued.

 

 

Indonesia, with a population of 240 million, goes to the polls for parliamentary elections in April and in July will choose a new president, so much can change over the course of the year before the true extent of the ban can be felt.

Reprinted by permission of MINING.com

Guinea strikes $5-billion mine deal with Abu Dhabi, Dubai

November 25th, 2013

by Cecilia Jamasmie | November 25, 2013 | Reprinted by permission of MINING.com

Guinea reached a $5-billion deal on November 25 with the emirates of Abu Dhabi and Dubai to develop a bauxite mine and alumina refinery in a fresh attempt to revitalize the West African nation’s natural resources sector.

The agreement, reports Reuters, includes $1 billion for extraction and exports of bauxite to the United Arab Emirates’ aluminum plants. It also involves a $4-billion aluminum refinery and a port.

The pact modifies a previously planned project and highlights a need in the Gulf to obtain raw materials to feed the recently created Emirates Global Aluminum, a national champion for the UAE company, set to become the world’s fifth-largest producer of the metal.

Under the deal, Guinea Alumina Corp—an Abu Dhabi-Dubai joint venture—will develop a bauxite export mine and a port, to be operational by 2017, and an alumina refinery with an initial capacity of two million tonnes a year. Commercial production from the refinery is estimated to begin in 2022.

Guinea is one of the main producers of bauxite, the raw material used in aluminum production, and mining has long been seen by the country as having potential to deliver much-needed income. However some of the country’s resources that are considered among the world’s largest, such as the Simandou iron ore deposit, have not been touched yet because of both financial and political reasons.

Reprinted by permission of MINING.com