Covid-19 hurt mining in Asia and the Americas most

Anastasia Bogdanova | August 25, 2020
img0 Mining operations in Asia and the Americas were hardest hit by government regulations implemented to stymie the spread of Covid-19, and are the regions that will register the largest declines in mineral production growth this year. This is according to a new report by Fitch Solutions, which states that ore production in China, Indonesia, Peru and India have ...

Russia has $1.5bn plan to dent China’s rare earth dominance

Anastasia Bogdanova | August 13, 2020
img0 Russia plans investment of $1.5 billion in rare earth minerals, critical to the defence, telecommunications and renewable energy sectors, as it strives to become the biggest producer after China by 2030, a top government official told Reuters. Russia’s initiative is in line with other countries, such as the United States, which are also trying to ...

Coronavirus slams Poland’s already-troubled coal industry

MINEX Forum | July 7, 2020
img0 WARSAW, Poland — The coronavirus has ripped through Poland’s coal mines, where men descend deep underground in tightly packed elevators and work shoulder-to-shoulder to extract the source of 75% of the nation’s electrical power. Of Poland’s more than 36,000 reported COVID-19 cases, about 6,500 are miners — making them nearly a fifth of all confirmed infections in ...

Finland funds state-owned battery metals firm

MINEX Forum | June 11, 2020
img0 A budgetary package worth €450 million to be submitted to the Nordic country’s Eduskunta (parliament) in June will include a €300 million mandate for Finnish Minerals to enter into contracts and other investment commitments. Chief executive Matti Hietanen said the additional funding would enable the company to invest in developing the Finnish battery value chain and ...

ERG says cobalt market can only benefit from EU’s green plan

MINEX Forum | June 3, 2020
img0 Diversified miner Eurasian Resources Group (ERG) says the European Union’s (EU’s) green plan to make electric vehicles (EVs) a centrepiece of the continent’s economic recovery has injected confidence into the global cobalt market. CEO Benedikt Sobotka says the green plan has also renewed momentum for responsible sourcing across the supply chain. He notes that, if ...

Uzbekistan ramping up gold production at Navoi & Almalyk to over 5 Moz/y by 2026

MINEX Forum | June 1, 2020
img0 Often forgotten on lists of major gold mining enterprises as they are state-owned by Uzbekistan, Navoi Mining and Metallurgical Combine (NMMC) and Almalyk Mining and Metallurgical Complex (Almalyk MMC) are set to see their joint production exceed 5 Moz a year by 2026, an unprecedented figure, with Almalyk’s copper production also to reach 400,000 t/y. NMMC’s ...

Lithium producers must wait as covid slows EV revolution

MINEX Forum | May 28, 2020
img0 The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets. Lithium industry shares have dropped sharply since January as the economic downturn from the pandemic slammed the brakes yet again on the electrification revolution that for years ...

Gold price falls to two-week low

MINEX Forum | May 28, 2020
img0 Gold extended its decline on Wednesday as growing hopes of a short-term economic recovery continue to take the momentum from safe-haven investments. Earlier in the day, spot gold slipped 1% and fell below $1,700 to a two-week low of $1,693.90. By noon ET, it was down 0.6% at $1,701.31 per ounce. Gold futures for June ...

Russia ramps up gold production, adding to country’s huge bullion reserves

MINEX Forum | May 26, 2020
img0 Gold output in Russia continues to grow, increasing by 9.26 percent in 2019 year-on-year, the country’s Ministry of Finance said on Monday. The volume of bullion production reached 343,54 tons compared with 314,42 tons in 2018. Production for the period included over 286 tons of mined gold, the ministry reported. Accompanying mining surged 23.8 percent to 19 ...