July 12, 2023

The US Senate Passes a Tax Treaty with Chile

According to Mine.com, citing Reuters, on June 20th, the US Senate overwhelmingly passed a tax treaty with Chile, which is seen as crucial for US companies to obtain lithium necessary for electric vehicle batteries. The Senate passed this treaty with 95 votes in favor and 2 against, far exceeding the two-thirds majority required to approve the treaty in a 100

July 11, 2023

Kazakhstan plans to increase mining taxes

Recently, Kazakhstan's Minister of Economy, Alebek Kuantlov, stated that Kazakhstan plans to increase mining and value-added tax rates, and reduce fuel subsidies to balance the government budget. Kazakhstan is rich in oil and mineral resources, and many foreign companies are mining minerals in the country. In recent years, in response to the impact of the epid

July 11, 2023

Discovery of high-grade cobalt deposits in the Skutrud region of Norway

Cunico believes that it has found high-grade Middagshville cobalt ore in Skuterud project in Norway. The main ore discoveries during drilling are: 6.2 meters at a depth of 25 meters, with a cobalt grade of 0.43%, including mineralization of 3 meters thick with a cobalt grade of 0.52%, and 1 meter thick with a cobalt grade of 1.08%.

July 11, 2023

BMI predicts Brazil's iron ore production growth will rebound in the coming years.

BMI predicts that after the contraction and stagnation from 2018 to 2020, Brazil's iron ore production growth will rebound in the coming years. This is mainly due to (1) lower production and operating costs; (2) Solid project reserves; And (3) factors such as the high-quality endowment of Brazilian iron ore. And the growing popularity of China's steel producers

July 11, 2023

BMI stated that the growth of India's iron ore production will be limited by its export tax policy on low-grade iron ore blocks and fines.

Last year in 2022, in order to meet domestic demand, India raised the export tax rate to 50% and the export tax rate for pellets to 45%. Despite a reversal in the second half of the year, the price increase has led to a significant decrease in India's iron ore exports due to slow global economic growth. Basic Materials Institute (BMI) also pointed out that due

July 11, 2023

Australia's iron ore production will grow up in the coming years

BMI predicts that Australia's iron ore production will grow at an average annual rate of 0.2% from 2023 to 2027. Compared to the previous five years, this significant slowdown is due to limited new production from existing new projects. BMI predicts that production in 2027 will decrease by 5.1 million tons compared to the level in 2023. Due to Australia being

July 11, 2023

WGC: The supply and demand situation of gold in the first quarter is complex

According to the Miningweekly, the first quarter gold demand trend report of the World Gold Council (WGC), an industry organization, believes that the situation of gold demand is complex. On the one hand, the central bank continues to increase its purchases, and Chinese consumer demand rebounds, on the other hand, exchange traded funds (ETFs) and India demand is weak.

July 11, 2023

Argentina's mining exploration volume reached a 10-year high in 2022

On July 6th, foreign media reported that the Argentine Mining Secretariat stated on Thursday that last year, Argentina's mining exploration investment reached $370 million, the highest level in a decade. The Secretariat added in a statement based on data from Standard&Poor's that the exploratory budget has increased by 68% compared to 2021.

July 10, 2023

Indonesia Becomes the World's Second Largest Cobalt Producer

According to data from the Cobalt Institute in the UK, Indonesia became the world's second largest supplier of cobalt in 2022, accounting for approximately 5% of the global production of this battery material, according to a report by Mining. com citing Reuters. Cobalt is a key raw material for rechargeable lithium-ion batteries used in electric vehicles. In o

July 10, 2023

IMF demands Indonesia lift nickel export ban

The nickel export ban policy has attracted the attention of the International Monetary Fund (IMF). The Executive Board of the International Monetary Fund recommended that the Indonesian government lift the nickel export ban in stages. This is revealed in the press release released on June 25, 2023 on the website of the International Monetary Fund. The Executiv

July 10, 2023

Australia approves AUD 49 million for key mineral appropriations

On May 18th, the Australian government approved approximately 49 million Australian dollars (32.5 million US dollars) in grants to 13 key Australian mineral projects nationwide to accelerate the development of these projects, which will help diversify the supply chain. A total of approximately $29 million in grants will be awarded to seven projects in Western

July 10, 2023

France, Germany, and Italy to Strengthen Cooperation on Key Raw Materials

On July 2nd, the French, German, and Italian governments jointly issued a statement that they will strengthen cooperation to ensure stable access to key raw materials. According to the statement, the three countries agreed to coordinate proposals in the field of critical raw materials and reached consensus on the proposed amendment to the EU's Critical Raw Materials Act (CRMA). The three countries call for the development of incentive measures to promote strategies and the reuse and recycling of key raw materials, as well as re

July 10, 2023

Iskut Copper and Gold Mine Drilling Continues in Canada

According to the website Mining.com, Seabridge Gold is drilling in the Iskut porphyry copper gold mine in the Golden Horseshoe of British Columbia with the goal of obtaining new discoveries. The project is only 20 kilometers away from the company's large KSM copper gold project. The preliminary work will expand from the Snip North target area to Bronson Slope.

July 10, 2023

World gold production may reach a new high in 2023

According to the Mining. com, although gold mining has a history of thousands of years, approximately 86% of above ground gold mining has been done in the past 200 years. Modern mining technology has made large-scale production possible, and global gold production has increased significantly since the 1800s.

July 04, 2023

Peru strives to maintain its position as the second largest copper producer

According to BNAmericas, 2022 is not the best year for copper production in Peru. The suspension of mining companies caused by social protests has affected mining. However, since this year, there have been positive signals in the mining industry, mainly from Department of Arequipa, which has stabilized the country's position as the second largest copper producer in the world.

July 03, 2023

EU calls for accelerated strategic action on critical materials

According to MiningWeekly, the head of the EU industry alliance emphasized that only by accelerating the expansion of financing and licensing approvals can the goal of reducing external dependence on key materials be achieved. According to the EU Key Raw Materials Act, which has not yet been implemented, the EU has set a target for minerals required for green

July 02, 2023

Some copper mines closed due to flooding caused by rainstorm in Chile

On June 23, foreign media reported that last Friday, rainstorm led to river flooding, road congestion, and even forced Codelco, the world's largest copper producer, to stop some mining operations. Codelco stated in an email replying to the question that work at the company's Andina mine has been temporarily suspended. The company stated that although it had "p

June 08, 2023

EU calls for accelerated strategic action on critical materials

According to Reuters report, the head of the EU industry alliance emphasized that only by accelerating the expansion of financing and licensing approvals can the goal of reducing external dependence on key materials be achieved. According to the EU Key Raw Materials Act, which has not yet been implemented, the EU has set a target for minerals required for gree

May 31, 2023

Indonesia lifts 20-year export ban on sea sand

Recently, the Indonesian government lifted a 20-year ban on sea sand exports. According to the Jakarta Post, the Marine Sediment Management Regulations signed by Indonesian President Joko have lifted the ban on sea sand exports, with immediate effect. The new regulations allow permit holders to export sea sand after meeting local demand. It is reported that th

May 25, 2023

Uzbekistan's President Demands an Increase in Coal Production

On May 12th, Uzbekistan reported that President Mirziyoyev of Uzbekistan held a meeting on energy supply issues on May 11th, calling for an increase in coal production to 6.5 million tons in 2023.The meeting pointed out that since the energy crisis last winter, the Uzbek government has vigorously promoted the "gas to coal" transformation of heating in greenhouse, cement plants, brick factories, kindergartens, school

May 16, 2023

Chile's Cachioro Copper Mine to Continue Drilling

The Chilean mining enterprise Antofagasta Minerals plans to carry out new surface and underground exploration in the Cachorro copper mine project in Antofagasta region in the north of the country. The environmental impact report received by the environmental impact assessment agency shows that the $360 million project includes the construction of 1044 drilling