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2023
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What are the major global mining events this week?(10.22-10.28)
According to the website of the National Development and Reform Commission, the National Development and Reform Commission recently signed cooperation documents on the joint construction of "Belt and Road Initiative" with Pakistan, the United Arab Emirates, Serbia and other countries, and mentioned that cooperation will be carried out in energy, mining and other fields. Among them, the "Agreement on Strengthening Mineral Development and Industrial Cooperation under the Framework of the China-Pakistan Economic Corridor" and "Memorandum of Understanding on Deepening Cooperative Research on Major Issues in the Joint Construction of the" Belt and Road "" were signed with Pakistan. The two parties agreed to investigate geology and mineral resources., To promote the green development of the entire industrial chain of the mining industry, and cooperate to carry out research on important issues such as mineral resources and industrial development
The National Development and Reform Commission signed energy, mining and other related cooperation documents with Pakistan and Serbia.
According to the website of the National Development and Reform Commission, the National Development and Reform Commission recently signed cooperation documents on the joint construction of "Belt and Road Initiative" with Pakistan, the United Arab Emirates, Serbia and other countries, and mentioned that cooperation will be carried out in energy, mining and other fields. Among them, the "Agreement on Strengthening Mineral Development and Industrial Cooperation under the Framework of the China-Pakistan Economic Corridor" and "Memorandum of Understanding on Deepening Cooperation and Research on Major Issues in the Joint Construction of the" Belt and Road "" were signed with Pakistan., To promote cooperation in the green development of the entire industrial chain of the mining industry, and cooperate to carry out research on important issues such as mineral resources and industrial development; signed with Serbia the "the People's Republic of China Government and the Government of the Republic of Serbia to jointly build the" Belt and Road "Medium-term Action Plan (2023-2025)". The two sides will actively promote cooperation projects in the fields of transportation, mining and energy, public infrastructure, economy and trade. Effective.
2023 China International Mining Conference opens in Tianjin
Ministry of Natural Resources WeChat Public Number, October 26-The 2023 (25th) China International Mining Conference opened in Tianjin on October 26. At the meeting, Wang Guanghua, Minister of natural resources, put forward three proposals: first, to promote innovative development and add new momentum to the development of mining industry. Promote the research and development and application of new theories, new technologies, new methods, new processes, and new equipment for mineral resources exploration and development, and promote the organic integration of mineral resources innovation chain, industrial chain, capital chain, and talent chain. The second is to promote green development and cultivate new models for mining development. Promote green technology, technology and equipment to achieve effective coordination between mine development and ecological protection. The third is to promote cooperative development and build a community of mining destiny. All parties join hands to build the "Belt and Road" with high quality, and continue to promote global mining investment and trade liberalization and facilitation. At the meeting, Samuel Ginapor, Minister of Land and Resources of Ghana, and Abdullah bin Muft Shamrani, Director of the Geological Survey of Saudi Arabia, both expressed their willingness to strengthen mining cooperation with China in their speeches.
Hunan Province to strengthen the basic, public welfare, strategic geological and mineral exploration work, prospecting capital investment will be increased year by yearMore than 10%
The website of the Hunan Provincial People's Government on October 22, the General Office of the Hunan Provincial People's Government recently issued the "Several Opinions on Effectively Improving the Guarantee Capacity of Mineral Resources and Deepening the Green and High-quality Development of Mining." The main contents include: First, by the end of the "14th Five-Year Plan", Hunan Province has achieved remarkable results in prospecting, with increased storage and production of advantageous minerals. The province has delineated more than 60 prospecting target areas, and more than 30 new mineral areas. Achieve exploration and mining balance. The second is to focus on the exploration and development of mineral resources in five metallogenic zones, including northeast Hunan, northwest Hunan, central Hunan, southern Hunan, and Xuefeng arc. Encourage the development and utilization of national strategic minerals, advantageous minerals and projects in Hunan Province, and minerals needed for the development of people's livelihood. The third is to strengthen the basic geological and mineral geological survey and evaluation, and promote the breakthrough of strategic mineral prospecting. Strengthen basic and public welfare geological surveys and strategic mineral resource exploration, carry out large-scale regional mineral geological surveys, focus on national strategic minerals and Hunan Province's advantageous minerals to carry out prospecting and prospecting, and carry out energy resource base construction. The exploration and prospecting projects are deployed around important mineralization zones and deep edges of large and medium-sized mines. The fourth is to increase investment in exploration funds. Coordinate financial arrangements at all levels, improve the mineral resources exploration investment mechanism, prospecting investment funds increased by more than 10% year by year. Provincial focus on the investigation and evaluation of key mineralized areas and national strategic mineral exploration, city and county focus on industrial chain support and people's livelihood needs of mineral exploration. Through the provincial geological exploration fund, we can effectively play the amplification effect of financial funds, guide social capital to invest in geological prospecting, and build a stable, diversified and sustainable exploration investment pattern. Five is to strengthen the transformation of exploration results. Optimize the results of national geological surveys and mineral exploration projects, and put in commercial prospecting rights in an orderly manner. Sixth, cultivate non-ferrous metals such as tungsten, antimony, lead and zinc, precious metals such as gold and silver, ferrous metals such as iron, manganese and vanadium, "triple rare" minerals such as lithium and rare earth, energy minerals such as coal and coalbed methane, fluorite,bariteGlass with quartz and other non-metallic minerals, geothermal, mineral water and other water vapor mineral "chain main" enterprises, and strive to build 10 billion mining industry clusters.
Preliminary delineation of North China and West Guangxi25bauxiteprospecting target area
WeChat Public Number of the Ministry of Natural Resources, October 23-Reporters recently learned from the field geological seminar on "Manganese Ore and Bauxite Formation Process and Prospecting Model", a key project for the development and utilization of strategic mineral resources under the national key research and development plan. The project has initially delineated 25 bauxite prospecting target areas in North China and western Guangxi, and the relevant results can provide basic data for bauxite block optimization and resource accumulation. It is understood that the project is led by the Tianjin Geological Survey Center of the China Geological Survey, and is jointly implemented by 9 domestic superior units in the field of manganese and bauxite, including the Institute of Geology of the Chinese Academy of Geological Sciences, China University of Geosciences (Beijing), and the Institute of Geochemistry of the Chinese Academy of Sciences. The project has preliminarily delineated 10, 6 and 9 prospecting target areas in Shanxi's guanlong mineralization area, the mineralization area on the southern edge of the North China Land Block and the mineralization area in western Guangxi respectively. The implementation of block optimization in Lingshi County, Shanxi Province is expected to submit a large-scale mineral resource area, driving bauxite exploration in Lingshi and Xiaoyi regions, with an expected increase of 0.1 billion tons of resources. In addition, the project clarifies the genetic relationship between short-term large-scale enrichment of karst bauxite and volcanic activity. Comprehensive analysis shows that large-scale volcanic activity is one of the important factors for short-term large-scale formation of bauxite mineralization on paleokarst surface in China. Preliminary collection of 380 global manganese deposit data has established a manganese ore database framework covering the basic situation of ore sites, geological conditions of mining areas and characteristics of ore bodies.
The thick rich rare earth ore body was found in the Longjiagou area of Yakuniuping, Sichuan, and is expected to reach a large deposit scale.
Sichuan Geology and Mineral Group WeChat Public Number, October 24-The project "Panxi Kaoshang-Yingpanshan Rare Rare Earth Prospecting Target Area Verification Project" undertaken by Sichuan Geology and Mineral Resources (Group) Co., Ltd. successfully passed the field acceptance recently. The project team found a thick rich rare earth ore body in Longjiagou area of Yakniuping, Sichuan, and achieved important prospecting results in stages. The project was commissioned in April 2023 and is a sub-project under the "Sichuan Kangding-Yunnan Gejiu Rare Earth Mineral Geological Survey. During the implementation of the project, the project team focused on the major national strategy, with the goal of increasing storage and production in large resource bases and ensuring national energy security. Through comprehensive investigations, it delineated geochemical exploration anomalies and favorable areas for prospecting, and carried out target area verification in a timely manner. There is one rare earth mineral area, and the resource potential is expected to reach the scale of large deposits, laying a solid foundation for breakthroughs in rare earth prospecting and increasing storage and production in Panxi area.
Shenghe Resources to Subscribe to Australian Rare Earth MerchantsVML Company Equity
Securities Times, October 24, Shenghe Resources announced a few days ago that the company intends to subscribe for Vital Metal Limited (hereinafter referred to as "VML Company") through Shenghe Resources (Singapore) Co., Ltd., a 100 per cent holding company of Leshan Shenghe Rare Earth Co., Ltd., a wholly-owned subsidiary, to issue new shares to further strengthen the resource reserve of overseas rare earth mining projects. According to the data, VML is a company established under Australian law and listed on the Australian Stock Exchange. It mainly develops the Nechalacho rare earth project in Canada and the Wigu Hill rare earth project in Tanzania. Among them, the Nechalacho rare earth project is located in the northwest region of Canada and is a light rare earth (fluorocarbon cerium ore) project, mainly including Tardiff mining area and North T mining area. The igu Hill project is located in Tanzania's light rare earth element deposit. It is estimated that the resource amount is about 3.3 million tons and the average grade of light rare earth is 2.6.
us, australia to announce key mineral cooperation plan
Reuters, October 24, a senior U.S. government official recently revealed that Australian Prime Minister Albanese will announce a key mineral cooperation plan during his visit to the United States and promote the establishment of a key mineral working group. The purpose is to promote private investment in the Australian rare earth industry and reduce import dependence. Albanese said Australia wanted to work with US companies. As the world's largest supplier of lithium, Australia has an advantage in mineral resources such as cobalt, vanadium, copper and nickel. Australian analysts believe that the US automotive and defense industries are large users of rare earths, and signing long-term sales contracts can reduce investment risks.
Australia's key minerals fund to increase$1.3 billion to attract international investors
Bloomberg News, October 24, the Australian government recently stated that it will double the funds to support key mineral projects to attract American mining companies to conduct business in Australia. The $1.3 billion capital increase will increase the capacity of Australia's key mineral facilities to fund mining and materials processing projects. Falling demand for fossil fuel exports in the context of global decarbonisation is likely to leave Australia with problems such as fiscal shortfalls, which is one of the main reasons for the country to expand its critical mineral footprint. Statistics show that in the 12 months to June this year, Australian lithium ore shipments were worth $12 billion. The government predicts that by 2028, the industry's gains could rival those of thermal coal exports.
The University of Western Australia has joined forces with the First Quantum and BHP Billiton to explore new methods for exploration of sedimentary copper deposits.
Mining Weekly10, 23-Getech, an underground resource positioning enterprise, has officially joined the copper shale (Kupferschiefer) project to carry out exploration and research on sedimentary copper mines. It is understood that the project is led by the Exploration Target Center of the University of Western Australia, with the participation of the University of Warsaw, First Quantum Minerals, Tektronix Resources and BHP Billiton. Launched in the first half of this year, the project aims to use a three-year period to map the mineral resources of the Central European basin by analyzing and processing a large amount of geological data and using the petroleum and mineral system method. Getech said that the project team will use the integrated metallogenic system method to search for sedimentary copper deposits, which requires comprehensive analysis and research on the formation and preservation of sedimentary copper deposits. Getech will rely on its own advantages and experience in gravity and magnetic data, global geological models and spatial analysis to provide the project team with relevant analysis of the underground characteristics and structures of sedimentary copper mines. It is reported that the innovative resource exploration methods and data results formed by the project can be applied to the exploration of global copper and other underground resources, such as lithium, potassium, phosphorus and even gold and natural gas.
Canadian mining investment expected to grow 21% to $16.4 billion in 2023
Mining.com, October 23, the Canadian Department of Natural Resources recently released data showing that the country's mining investment reached 13.5 billion Canadian dollars in 2022, a 10-year high, an increase of 14% over the previous year. In 2023, the country's mining investment also showed significant growth, which is expected to increase by 21% to 16.4 billion Canadian dollars. Data show that Canadian mining investment reached a peak of 16.9 billion Canadian dollars in 2012, mainly driven by the rapid growth of demand in emerging economies. In the following five years, the country's mining investment declined year by year, and in 2017 it was 9 billion Canadian dollars, the lowest in a decade. Canadian mining investment picked up in the following two years, but fell again in 2020 due to the impact of the epidemic. Since 2021, Canadian mining investment has returned to pre-epidemic levels. Natural Resources Canada believes that the future clean energy transition will continue to drive up demand for key minerals, especially cobalt, graphite, lithium and nickel needed for power batteries.
Russia fromIncrease oil export tariffs by nearly 10% from November
Russian Ministry of Finance website on October 21, the Russian Ministry of Finance recently issued a notice stating that from November 1, Russian oil export tariffs will increase by 9.62 to 26.2 US dollars/ton, the highest level since the beginning of the year. This is the fourth time that Russia has raised oil export tariffs this year. Some analysts believe that oil export tariffs are the main source of revenue for Russia's finances. Previously, due to the Russian-Ukrainian conflict funding expenditure and Western energy trade sanctions against Russia, the country's oil and gas revenue has fallen sharply, and the fiscal budget has tightened. Russia's move will affect international oil prices. There is a certain supporting effect. As the Organization of Petroleum Exporting CountriesOPECOne of the member states, Russia, announced in February this year that it would cut crude oil production by 500000 barrels per day from March, and announced in June that it would extend its production reduction plan to the end of 2024. In September this year, Russia announced that it would voluntarily cut its daily supply to the global oil market by 300000 barrels until the end of December this year. The decision, combined with voluntary production cuts by OPEC leader Saudi Arabia, tightened global oil market supply and further pushed up Russian crude prices.
Panamanian government approves operation of Canada's first quantum mining flagship copper mine
The revised operating contract for the flagship copper mine of Canada's first Quantum Mining Co., Ltd. has been finally approved by the Panamanian Congress, ending years of legal uncertainty. The terms of the new contract stipulate that the Panamanian government will receive at least US $0.375 billion a year, which is valid for 20 years and can be renewed. It is understood that in March this year, the Panamanian government and the Canadian miner initially agreed to renew the contract for the project. However, the bill has not been passed due to demands from some lawmakers to amend some provisions. The signing of the new agreement provides the Panamanian government with much-needed financial guarantees for next year's elections.
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