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2023
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Hot spot of the week! What are the world's mining events this week?(10.9-10.14)
People's Daily, October 10, the reporter recently learned from the Ministry of Natural Resources that the new round of prospecting breakthrough strategy has achieved phased results. Since the "14th Five-Year Plan", 157 new large and medium-sized mineral deposits have been discovered in various places. In 2022, investment in oil and gas mineral exploration reached 82.2 billion billion yuan, a record high, an increase of 3.1 percent over the same period last year, while investment in non-oil and gas mineral exploration reached nearly 10 billion yuan, an increase of 15.6 percent over the same period last year. Since the "14th Five-Year Plan", geological prospecting has achieved remarkable results. New 0.8 billion-ton oil fields, 11 100 billion cubic meter gas fields, and 157 large and medium-sized mineral sites have been discovered. 112 prospecting areas have been delineated and submitted for commercial prospecting.
Since the "14th Five-Year Plan", my country has discovered 0.8 billion tons of oil fields, 11 100 billion cubic meters of gas fields, and 157 large and medium-sized mineral fields.

People's Daily, October 10, the reporter recently learned from the Ministry of Natural Resources that the new round of prospecting breakthrough strategy has achieved phased results. Since the "14th Five-Year Plan", 157 new large and medium-sized mineral deposits have been discovered in various places. In 2022, investment in oil and gas mineral exploration reached 82.2 billion billion yuan, a record high, an increase of 3.1 percent over the same period last year, while investment in non-oil and gas mineral exploration reached nearly 10 billion yuan, an increase of 15.6 percent over the same period last year. Since the "14th Five-Year Plan", geological prospecting has achieved remarkable results. New 0.8 billion-ton oil fields, 11 100 billion cubic meters of gas fields, and 157 large and medium-sized mineral sites have been discovered. 112 prospecting areas have been delineated and submitted for commercial prospecting. 102 target areas. Shandong Gold Mine, Jiangxitungsten oreSignificant progress has been made in prospecting for lithium ore, manganese ore in Guizhou, crystalline graphite ore in Gansu, iron ore in Xinjiang, lithium ore in Sichuan and Inner Mongolia, and coalbed methane in Henan, adding a number of resources. Taking lithium, a new energy mineral, as an example, 1.19 million tons of new lithium oxide proved resources were added, and the "14th Five-Year Plan" prospecting target was completed ahead of schedule, laying a good foundation for accelerating domestic exploration and development of energy mineral resources and increasing storage and production.
The number and income of prospecting rights in Xinjiang reached a record high, mainly covering energy minerals, metal minerals and characteristic advantages.non-metallic mineral

Urumqi Evening News, October 10, since this year, Xinjiang has publicly sold 126 prospecting rights, mainly covering energy minerals, metal minerals and characteristic advantage non-metallic minerals. The number, frequency and income of the transfer have all reached a record high. Xinjiang strives to build a modern industrial system supported by the "eight major industrial clusters" such as the green mining industry and the coal, coal, electricity and coal chemical industry, continues to increase the exploration and development of mineral resources, vigorously promotes the public transfer of mining rights, and promotes industrial upgrading and the transformation of advantageous resources. 13 batches of prospecting rights have been publicly sold. In addition, Xinjiang has also actively cooperated with the Ministry of Natural Resources to complete preparations for the transfer of 10 oil and gas blocks and 3 lithium mines. In the next step, the Xinjiang Natural Resources Department will strengthen the linkage with the central government and local geological prospecting units, jointly study the potential to transfer geological results, and use the "one mine, one policy" method to rectify the problems of "circle but not exploration" of prospecting rights.
Coal Mine Geological Work Rules for Public Consultation

China Mining News, October 13th, the National Mine Safety Supervision Bureau recently solicited opinions from the public on the newly revised "Coal Mine Geological Work Rules (Draft for Comment)" to further strengthen and standardize coal mine geological work and contribute to coal mine safety production. Provide geological protection and effectively prevent coal mine accidents.
The revised "Detailed Rules for Coal Mine Geological Work" clearly states that coal mine geological work refers to all geological work from the basic construction of the coal mine to the closure of the pit on the basis of the original exploration report. The rules are divided into 10 parts: general rules, classification of coal mine geological types and basic data, general survey of geological factors causing hidden disasters in coal mines, supplementary investigation and exploration of coal mine geology, geological observation and comprehensive analysis of coal mines, geological work in coal mine construction stage, geological work in coal mine production stage, geological work in coal mine closing stage, geological work in coal mine geology digitization, and supplementary provisions. In addition, according to 《Coal Mine Safety Regulations"Coal mine water prevention and control rules" and so on, the draft also quoted industry normative terms, new noun explanation.
China's scientific research team has reached the sixth highest peak in the world for the first time to carry out comprehensive scientific investigation, which will focus on major scientific issues such as mineral resources and geological environment

Guangming Daily, October 9, 18 Chinese scientific research team members have successfully reached the sixth highest peak in the world.Zhuo Ao YoufengThis is the first time that a Chinese scientific expedition team has climbed to a peak above 8000 meters above sea level outside Mount Everest. It is reported that this scientific research activity will focus on major scientific issues such as changes in Asian water towers, ecosystems and carbon cycles, human activities and the safety of the living environment, mineral resources and geological environment, and reveal changes in extremely high altitude areas and extreme processes. The impact of changes in the ecological environment of the Qinghai-Tibet Plateau. Zhuo Oyou Peak is located on the border between China and Nepal and in the middle of the Himalayas. It is 8201 meters above sea level and is the sixth highest peak in the world. It is about 30 kilometers east of Mount Everest, the "top of the world. The Zhuo Ao Youfeng scientific expedition is a very high-altitude multidisciplinary comprehensive scientific expedition that is implemented again on the basis of the Everest scientific expedition. It indicates that my country has the systematic ability to carry out very high-altitude comprehensive scientific investigations. Enter the normal mode.
Australia may include iron ore, etc."List of Critical Minerals"

Global Times, Caixin News Agency comprehensive news, according to Australian media recently reported that Australia is considering a major adjustment to the list of key minerals, or iron ore,bauxiteCommodities such as coking coal are included.
Australian Resources Minister Madeleine King said that when the list of key minerals is updated later this year, the Australian government will adopt a new definition of key minerals. Scarcity is no longer a prerequisite for inclusion in the list. Mineral resources of geostrategic importance to us and neighboring countries ". Although Madeleine King did not specify which mineral resources would be added to the new list of key minerals, she listed bauxite, iron ore, coking coal, copper and nickel as commodities of vital importance to Australia's trading partners, the report said. Madeleine King believes that the listing of minerals will mean stronger supervision, faster approval and access to funds. Australian media believe that if coking coal and iron ore and other minerals with rich resource base in Australia are really included in the list of key minerals, it means that related asset mergers and acquisitions may face a greater threshold.
Domestic experts believe that there is a lot of room for mineral cooperation between China and Australia, and strengthening cooperation is the right direction, and blindly following the US policy will eventually harm the interests of the two countries. Experts believe that Australia breaks the traditional definition of key minerals and incorporates geopolitical content, which means that iron ore and others will be included in the legal system to carry out export control when needed.
India for lithium and others3 Key Mineral Mining Sets Royalties

Reuters, October 11, the Indian government recently issued a statement saying that it will set royalties for the exploitation of three key minerals, including lithium. Among them, the royalty for lithium mining by mining companies will be fixed at 3% of the current price of the London Metal Exchange (LME); the royalty for niobium mining is 3% of the average sales price; the royalty for rare earth element mining is 1% of the average sales price of rare earth oxides. These policies will pave the way for India's first auction of mining blocks for the three minerals. The newly discovered lithium mine is expected to be auctioned later this year with an estimated reserve of 5.9 million tons, when at least 12 Indian and foreign companies will participate in the auction, the Indian government said.
Congo (DRC) wants to become the world's major germanium supplier with the help of new smelters.

BloombergOn October 9, relevant leaders of the Congo (DRC) government recently participated in the groundbreaking ceremony of a new smelter in the country. The producer and operator of this wet smelter is Lubumbashi Tailings Treatment Company (STL), a subsidiary of the Congo (DRC) National Mining Company. The smelter will use nearby tailings called Bighill to produce germanium, zinc oxide, copper and cobalt, which is expected to produce 30% of the world's germanium. It is reported that Congo (DRC) is currently the world's largest cobalt producer, copper production in the world's top three, the country hopes to use STL to become the world's major germanium supplier.
Vietnam plans to auction rare earth mining rights

Reference Information NetworkOn October 10, according to Agence France-Presse, Vietnam plans to auction the mining rights of the country's largest rare earth mine. The chief executive of Vietnam Rare Earth, a partner in the project, said Australia's Blackstone Mining Company was planning to bid for the Dongbao mine in the northern Vietnamese province of Laizhou.
U.S. President Joe Biden visited the Southeast Asian country last month, during which the two countries agreed to strengthen cooperation to help Hanoi quantify and develop its rare earth resources. The United States says Vietnam, which has the world's second-largest rare earth reserves after China, has a key role to play as supply chain problems have hit the global economy in recent years and the United States is trying to reduce its purchases from China.
Vietnam says it wants to increase annual production to 2 million tons by 2030. According to the U.S. Geological Survey, Vietnam's rare earth production soared to 4300 tons last year from just 400 tons in 2021.
Citi buys large amounts of physical aluminum and zinc, highlighting the global market shift to oversupply

Citi has been buying large amounts of physical aluminum and zinc on the London Metal Exchange (LME), a bold metals financing deal that has made it one of the biggest players in the market in recent months. These purchases mark the return of a major driver of metal prices in the post-financial crisis era: oversupply in the market has led to spot prices well below the price of futures contracts for future delivery, which creates opportunities to buy metals at low prices and hold them, while selling forward profits. In the past few months, Citi has requested the delivery of about 100000 tons of aluminum and 40000 tons of zinc, with a total value of more than $0.3 billion, according to people familiar with the matter. Citi metals trading indicates that the market is entering a period of oversupply, with in stock prices at a large enough discount to futures prices (I. e., futures premiums) to make metal financing trading profitable.
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