Battery grade lithium prices in China surge 68%

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Benchmark lithium price index Feb 2021 6PodIP

Benchmark’s megafactory tracker points to the extent of the rise in demand reflected in China’s battery production figures, which totalled 12 GWh in January, an increase of nearly 320% compared to the same month last year, when the country was in the first stages of the pandemic. The surge was led by production of LFP… Read More

Savannah’s Portugal lithium project may be cheaper than expected

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mina do barroso 7irjHU

“Removal of up to one quarter of the ore feed going into the flotation circuit could have significant positive implications for the capital and operating costs of this section of the concentrator and the project overall,” chief executive David Archer said in the statement. Mina do Barroso is expected to become Europe’s first significant producer… Read More

The US broke record on energy storage deployment in Q4-2020

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The US broke record on energy storage deployment in Q4 2020 iEPWnH

“As prices fall and barriers to storage deployment are eroded, front-of-the-meter (FTM) storage is taking off in the US,” the report reads. “Four out of every five megawatts deployed in Q4 were FTM storage. The segment contributed 529 MW out of the total 651 MW of storage deployed in Q4. California saw the lion’s share… Read More

Turquoise Hill CEO quits on Rio Tinto meddling

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oyu tolgoi expansion XlIKWw

Turquoise Hill had expected the underground expansion to cost $5.3 billion when it was approved in 2015. Last year, however, the world’s second largest miner flagged stability risks associated with the original project design, adding that amendments to it could increase costs by as much as an additional $1.9 billion. The Vancouver-based miner warned at the time of further… Read More

Cobalt sulphate, hydroxide prices are rocketing

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Benchmark cobalt price 2021 PuLDdu

Benchmark’s February market assessment also points out the extent of the rise in demand reflected in China’s battery production figures, which totalled 12 GWh in January, an increase of nearly 320% compared to the same month last year, when the country was in the first stages of the pandemic. While production of LFP batteries –… Read More

Co-operation between artisanal miners and companies gains momentum

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LUX Newlox gold production and environmental remediation 17 cSTTrV

Small-scale gold production is estimated to be between 380 and 450 tonnes per year in more than 70 countries, where a large majority of the miners use mercury as the main process of gold extraction, with over 2000 tonnes/y of mercury lost to the environment. Pollution, deforestation, conflicts with companies, money laundering, tax evasion, reveal… Read More

Aluminum price surges to 9-year high on concern about Chinese supply

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Rio Tinto BC aluminum 533x354 DeLd7f

The most-traded April aluminum contract on the Shanghai Futures Exchange climbed as much as 4.2% to 17,640 yuan ($2,728.62) a tonne, hovering near its highest level since August 2011 of 17,695 yuan a tonne it last hit on Feb. 26. [Click here for interactive aluminum price chart] Investors were jittery ahead of China’s annual meeting of parliament,… Read More

Rio Tinto chairman to step down over caves blast scandal

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RT Simon Thompson r46369

He also regretted the fact that the destruction had “overshadowed” the company’s successes in 2020 – during which it paid a record dividend to investors thanks to booming iron ore prices. Non-executive director Michael L’Estrange, who led the review into Rio’s handling of the incident, will retire in May. The company said he needed to… Read More

Miners, OEMs launch Electric Mine Consortium

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Miners OEMs launch Electric Mine Consortium pHRKLD

The report is titled Electrification and it covers extensive research aimed at understanding the drivers and barriers of mine electrification while identifying the key enabling technologies and collaborations to accelerate its adoption A working group will work on clarifying the supporting infrastructure requirements for all-electric equipment and vehicles while establishing OEM agnostic charging standards According… Read More

Fallout for Rio Tinto continues as activist investors asks if other heads should roll

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THE fallout for Rio Tinto following the destruction last year of the 46,000-year-old Juukan Gorge rock shelters in Western Australia shows no sign of slowing. Hot on the heels of chairman Simon Thompson’s resignation announcement, a lawyer working for activist investor, the Australasian Centre for Corporate Responsibility, said in a Reuters article that more heads should… Read More

Gold price to lower on cyclical recovery, higher yields – report

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Screen Shot 2021 03 02 at 2.28.18 PM SysMk5

Gold prices could remain supported over March-April as inflation will likely pick-up and could rise faster than bond yields sending real bond yields even in more negative territory, market analyst Fitch Solutions predicts in its latest industry report, adding that this will likely push real interest rates lower in the near term, temporarily boosting the… Read More

Epiroc announces new approach for North American underground mining market

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Vale Epiroc sign Batteries as a Service deal 73faP1

The company has created the position of underground business manager for North America “Around the world, Epiroc is leading the charge toward sustainability in mining through battery-electric, zero-emission equipment,” Jon Torpy, president and general manager for Epiroc USA, said in a release. “Combining our U.S. and Canadian support will allow for shared resources and experiences… Read More