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[Global Mining Daily News] Understand global mining in just five minutes every day.

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2021-01-14 15:07

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[Global Mining Daily News] Understand global mining in just five minutes every day.

Global Mining Events to Know Early

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In 2020, M&A in Latin America's energy, mining, and utilities sectors fell by 18%.

According to research firm Mergermarket, M&A activity in Latin America in 2020 decreased by 34% year-on-year, with a total deal value of $56.8 billion and 557 transactions. Among these, the M&A deal value in the energy, mining, and utilities sectors fell by 18%. These three sectors recorded a total of 93 transactions in 2020, with a deal value of $26.1 billion, compared to 112 transactions and $31.7 billion in 2019.

National Aluminium Company of India plans to invest $17.7 billion for expansion.

Indian Coal and Mines Minister Pralhad Joshi recently stated that the National Aluminium Company (NALCO) will invest ₹300 billion (approximately $17.7 billion) over the next 6-7 years for expansion and diversification. Some of NALCO's expansion and diversification plans may take the form of joint ventures. NALCO is in discussions with the government regarding some greenfield projects that are planned to be announced.

In 2020, Canada's mining IPO amount was $324 million.

Although the number of new shares issued was lower than in previous years, the Canadian IPO market generated over $5 billion in 2020, five times the amount issued in 2019. The mining sector led all industries with a total of $324 million from 23 IPOs, accounting for 53% and 7% of the total number and amount of non-CPC/SPAC IPOs, respectively.

Brazil signs agreement with Japan to develop niobium and graphene.

The Brazilian government has signed a cooperation agreement with Japan aimed at promoting the production of niobium and graphene in Brazil through new technologies. The Brazilian Ministry of Mines and Energy stated in a notice that this will allow for the exchange of experimental and prototype information and explore applications of niobium and graphene, thereby adding value to products and the supply chain. The Brazilian local company CBMM, controlled by the Moreira Salles family, supplies 82% of the world's niobium production.

Dutch Bank believes oil prices have a downward correction risk.

After OPEC+ agreed on production levels for February and March, Brent crude oil prices rose above $55 per barrel, and WTI crude oil rose to $51 per barrel. Nevertheless, analysts at the Dutch bank still believe there is a significant risk of downward correction in oil prices. Analysts pointed out that even if vaccination programs are implemented now,it will take a long time to get the aviation industry back on track; meanwhile, market expectations for a rebound in oil demand far exceed reality; in addition, global inventories remain above average.

Mongolian government may revoke Rio Tinto's plans for Oyu Tolgoi.

Turquoise Hill Resources stated on Monday that the Mongolian government may cancel and replace the development and financial plans for the Oyu Tolgoi copper-gold mine. The company, which is controlled by Rio Tinto, indicated that Mongolian authorities are dissatisfied with the plans of this large mining company. The Mongolian government is particularly concerned about the costs of the mine's expansion, which have recently been updated to $6.75 billion, about $1.5 billion higher than the initial estimate. The Mongolian government believes that the significant increase in costs erodes the economic benefits derived from the Oyu Tolgoi mine.

BHP invests in green steel startup.

Recently, BHP invested in a green steel startup, N.A. Materials Wrap, which aims to produce steel with less pollution. This also indicates BHP's pursuit of developing low-pollution steel production methods. While many mining companies have outlined plans to curb direct carbon emissions, these emissions represent only a small portion, and steelmaking is one of the largest carbon-emitting industries globally.

Glencore's zinc mine outbreak of COVID-19.

After two workers tested positive for the coronavirus, local health officials announced an outbreak of COVID-19 at Glencore's Kidd zinc mine in Ontario. Authorities stated that they are working with the mine management to ensure appropriate measures are taken to prevent the spread of the coronavirus on site.

Samarco begins shipping iron ore.

After restarting its iron ore business in December last year, Samarco began its first shipment of iron ore this Monday. According to the company, approximately 75,000 tons of pelletized ore will be shipped from Brazil to Europe. Samarco's current production capacity accounts for 26% of total capacity, producing about 7-8 million tons of iron ore annually.

In 2020, Zimbabwe's gold sales fell by 31%.

Official data released by Zimbabwe on Monday showed that due to a decrease in deliveries from small-scale gold miners, the country's only gold buyer and exporter, FPR, saw its gold sales drop by 31% last year to 19 tons. Small-scale gold miners in Zimbabwe produced 9.35 tons of gold last year, down from 17.48 tons in 2019. Zimbabwean officials stated that FPR pays small-scale miners in cash dollars, but a shortage of hard cash led to payment delays for much of last year, forcing many miners to sell gold to illegal buyers.

On-site verification of the restoration and management of abandoned mines.

Scene of carefully investigating potential hazards.

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