Asia Mining – Page 106 – Republic of Mining

China’s steelmakers the relative winners in coking coal surge – by Clyde Russell (Daily Mail/Reuters – October 21, 2016)

October 21, 2016

http://www.dailymail.co.uk/

LONDON, Oct 21 (Reuters) – While no steel maker will be happy with the explosion in coking coal prices, Chinese mills are the best placed to deal with the impact, given they are nowhere near as exposed to spot prices as competitors in the rest of Asia and Europe.

The spot price of premium hard coking coal <_.PHCC-AUSSI> in Australia, which dominates global exports, surged to $242.90 a tonne on Oct. 20, taking the rally so far this year to a staggering 210 percent.

While only a small percentage of coking coal cargoes are actually sold at the spot price, the quarterly contract price was recently settled above $200 a tonne and customers of Australia’s BHP-Mitsubishi Alliance, the world’s largest coking coal exporter, will be paying prices linked to monthly indexes.

BHP Sees Imminent Turning Point in Nickel With Deficit Looming – by Rebecca Keenan (Bloomberg News – October 20, 2016)

October 21, 2016

http://www.bloomberg.com/

BHP Billiton Ltd., the world’s largest mining company, sees the nickel market swinging into deficit because of supply threats in the Philippines and growing demand from electric vehicles and stainless steel.

“There are signs that this year could be finally the turning point for nickel with many expecting the market to be in deficit and so starting the much needed re-balancing process,” Eduard Haegel, asset president of BHP’s Nickel West unit, said at a conference in Perth Thursday. “The welcome return to balance over the next few years should see further recovery in nickel prices.”

Nickel has rebounded more than a third from the intraday low in February this year, which was the cheapest in more than a decade. Prices have been buoyed as the market awaits the final results from a nationwide audit in the Philippines, the world’s largest producer, which was ordered by President Rodrigo Duterte to ensure suppliers aren’t flouting environmental rules.

PHL nickel supply to depend on government mining policies – by Cai Ordinario (Business Mirror – October 21, 2016)

October 21, 2016

THE Philippines’s nickel supply in the next few years will depend on mining policies implemented in the country, the World Bank said.

In its latest Commodity Markets Outlook, the World Bank said the suspension of operations of several mining firms by the Department of Environment and Natural Resources (DENR) has already resulted in economic losses for the country. Nickel prices, the World Bank added, surged 16 percent due to strong stainless-steel demand, which the Philippines missed out on due to the suspensions.

“The nickel market had already moved into deficit with falling production output in the Philippines due to depletion, and declining NPI [nickel pig iron] production in China,” the World Bank said. The suspension of mining permits has effectively suspended 55 percent of the country’s nickel production, equivalent to over 10 percent of global supply, the bank added.

UN tells Bangladesh to halt mangrove-threatening coal plant – by Karl Mathiesen (The Guardian – October 19, 2016)

October 20, 2016

https://www.theguardian.com/

Rampal coal plant poses a ‘serious threat’ to a key ecosystem for Bengal tigers and must be cancelled, says the UN world heritage body

The UN’s world heritage body has made an urgent intervention to stop the construction of a coal power station in Bangladesh. Unesco said the plant could damage the world heritage-listed Sundarbans mangrove forest, which houses up to 450 Bengal tigers.

A fact finding mission, published by Unesco and the International Union for the Conservation of Nature (IUCN) on Tuesday, found that the proposed site of the Rampal coal power plant, which is 65km north of the Sundarbans world heritage area, would expose the downriver forests to pollution and acid rain.

Ships carrying coal and other material for the plant’s functioning will move through the mangrove reserve, requiring dredging and dumping of 32.1 million cubic metres of river bottom at first and further annual dredging.

Exclusive: Production slowing fast at Myanmar mine that rattled tin market – by Yimou Lee and Antoni Slodkowski (Reuters U.S. – October 18, 2016)

October 18, 2016

http://www.reuters.com/

MAN MAW, MYANMAR – Output from a mysterious Myanmar tin mine that has disrupted the global market in the metal is falling sharply and deposits could be depleted in “two to three years”, senior mine officials told Reuters.

A surprise discovery of large quantities of tin has propelled the formerly isolated Southeast Asian country into the position of third largest producer of the industrial metal, and contributed to a sharp fall in prices in the last three years.

Much of it comes from the Man Maw mine deep inside the self-proclaimed “Wa State”, a secretive, China-dominated statelet the size of Belgium controlled by Myanmar’s most powerful ethnic armed group, the 30,000-strong United Wa State Army (UWSA).

India poised to become centre for rough diamond trading? – by Melvyn Reggie Thomas (Times of India – October 18, 2016)

October 18, 2016

http://timesofindia.indiatimes.com/

SURAT: Will the Special Notified Zone (SNZ) become the centre for rough diamond trading? It seems so, after the Russian President Vladimir Putin and Prime Minister Narendra Modi discussed about strengthening bilateral diamond trade at the recently concluded BRICS summit in Goa.

Both India and Russia welcomed initiatives to promote direct trade in diamonds between the two countries and gave positive evaluation of the work of the SNZ at the Bharat Diamond Bourse (BDB) in Mumbai during the summit after noting active support of this project from Russian diamond company, ALROSA.

India is the world’s largest diamond cutting and polishing centre and one of ALROSA’s key trade partners. In 2015, companies with Indian capital purchased ALROSA’s rough diamonds for the total of US$ 1.5 billion, including US$ 575 million direct supplies to India.

China aluminum makers to target auto, aerospace in global push – by Melanie Burton (Reuters U.S. – October 17, 2016)

October 18, 2016

http://www.reuters.com/

China’s giant aluminum makers are pushing into the global automotive and aerospace markets, with industry sources expecting their presence to heat up competition and possibly spark a buying spree for Western metals companies.

China’s top aluminum companies are venturing into the more lucrative parts of the global value chain, on course to seize market share from the likes of Alcoa and Constellium, as they look to buy into foreign firms to boost their technical know-how and expand their reach.

The chief executive of Novelis Inc [NVLX.UL], the world’s largest maker of rolled aluminum products, said last week he expected competition with Chinese producers to be “very fierce” over the next five to 10 years in the high-value-added sectors of aerospace and engineering – which so far have been dominated by European and U.S. manufacturers.

Japan’s Top Producer Says Zinc Could Surge to 5-Year High – by Masumi Suga and Ichiro Suzuki (Bloomberg News – October 17, 2016)

October 17, 2016

http://www.bloomberg.com/

Zinc, this year’s best performing metal, has the potential to extend gains to the highest level since 2011 because of a shortfall in ore production, assuming that Glencore Plc doesn’t restart idled mines, according to Japan’s biggest producer.

Prices could advance to $2,500 a metric ton by March because of “super tight” ore supply after companies cut output, Osamu Saito, general manager of Mitsui Mining & Smelting Co.’s metals sales group, said in an interview in Tokyo. “Even if Glencore ends production cuts, supply will continue to trail demand, though the feeling of shortage will ease somewhat.”

The company joins Goldman Sachs Group Inc., Deutsche Bank AG and Citigroup Inc. in highlighting the bullish outlook. Goldman Sachs predicts that zinc will reach $2,500 in three months, while Citigroup says it will average $2,445 in 2017.

Philippines minister wants to ban new mines as clampdown deepens – by Enrico Dela Cruz and Manolo Serapio Jr (Reuters U.S. – October 14, 2016)

October 14, 2016

http://www.reuters.com/

MANILA – The Philippines’ mining minister wants to prolong a ban on new mines and will review all environmental permits previously granted to the minerals industry, ramping up a campaign to clamp down on damage from the sector in the Southeast Asian nation.

Miners criticized the proposals made on Friday by Environment and Natural Resources Secretary Regina Lopez, saying she seemed determined to put the “industry to sleep”.

The Philippines is the world’s top nickel ore supplier and an environmental audit that has halted a quarter of its 41 mines, and the risk that 20 more maybe shuttered has spurred a rally in global nickel prices. “I want to put a moratorium on any new mining,” Lopez told a media briefing.

Indonesia unlikely to relax ban on nickel ore and bauxite exports – by Wilda Asmarini and Fergus Jensen (Reuters U.S. – October 12, 2016)

October 12, 2016

http://www.reuters.com/

JAKARTA – Indonesia will “almost definitely” keep in place a ban on nickel ore and bauxite exports, the country’s mining minister said on Wednesday, just days after it had considered lifting the restriction to raise extra cash in an overhaul of mining rules.

Indonesia banned metal ore exports in early 2014 to encourage miners to build smelters to create jobs and shift exports from raw materials to higher-value finished metals.

But the government has been comprehensively reevaluating the domestic mineral processing requirements, amid concerns that the current deadline for full processing of all minerals by 2017 may not work for certain metals.

Chinese Smelter Assails Indonesia Over U-Turn on Ore Exports – by Yoga Rusmana (Bloomberg News – October 11, 2016)

October 11, 2016

http://www.bloomberg.com/

A plan by Indonesia to allow shipments of raw mineral ores would inflate local smelting costs and threaten the existence of small producers, according to the head of a Chinese-Indonesian venture, who called the move unwise and said it contradicted promises by the nation’s president.

Easing the export ban would mean local processors would have to compete with foreign buyers for supplies, raising the price of nickel ore, according to Alexander Barus, chief executive officer of Tsingshan Bintangdelapan Group. The company, partly owned by China’s Tsingshan Holding Group, may surpass PT Vale Indonesia this year as the largest nickel producer in the country.

The government could allow 15 million metric tons a year of low-grade ore exports because the material is hard to process locally and the money will help fund the building of local smelters, according to Teguh Pamudji, secretary general at the Energy & Mineral Resources Ministry.

Philippines to cancel environmental permit of nickel miner as crackdown continues – by Manolo Serapio Jr (Reuters U.S. – October 10, 2016)

October 11, 2016

http://www.reuters.com/

MANILA – The Philippines will cancel the environmental permit of a nickel miner that began operations this year, a minister said, as the government intensifies a campaign to punish mineral producers harming natural resources.

The Southeast Asian country is the world’s top nickel ore supplier and an environmental crackdown that has halted a quarter of its 41 mines, and the risk that 20 more maybe shuttered has spurred a rally in global nickel prices.

But the nickel mine now threatened with a shutdown, in southern Davao Oriental province and run by private-owned Austral-Asia Link Mining Corp, was not among those suspended or recommended for suspension.

Australia boosts iron ore, coal price forecasts on China demand – by James Regan (Reuters U.S. – October 6, 2016)

October 7, 2016

http://www.reuters.com/

Australia on Friday raised its 2016 average price forecasts for its two highest-grossing exports, iron ore and coal, citing a surprise upturn in demand from steelmakers in China.

In its latest quarterly outlook, Australia’s Department of Industry, Innovation and Science boosted its forecast for iron ore by 10 percent to an average $48.50 a tonne this year, while metallurgical coal was increased 16 percent to $99.40 a tonne.

The rise reflects a recent surge in the prices of both commodities, with iron ore currently trading around $55 a tonne and metallurgical coal at $200 a tonne, underscoring an unforeseen resurgence in China’s industrial sector, the main buyer of Australian commodities.

UPDATE 1-Indonesia eyes 15 mln T nickel ore exports in 2017 – by Wilda Asmarini (Reuters U.S. – October 7, 2016)

October 7, 2016

http://www.reuters.com/

Oct 7 Indonesia could export up to 15 million tonnes of nickel ore in 2017 if it amends a ban on unprocessed ore exports, a mining ministry official said on Friday.

Indonesia banned metal ore exports in early 2014 to encourage miners to build smelters to create jobs and shift exports from raw materials to higher-value finished metals. Indonesia’s nickel ore exports had increased sharply before the ban was implemented, hitting about 60 million tonnes in 2013.

But the ban cost Indonesia – once the world’s top nickel ore exporter and a major supplier of bauxite for aluminium – billions of dollars in lost revenue. To get smelters built, though, these rules now need to be changed again, said Teguh Pamudji, secretary general at the Energy and Mineral Resources Ministry, amid ongoing discussions of a mining policy shift.

China’s deep-sea mission to mine the wealth beneath the ocean floor (South China Morning Post – October 6, 2016)

October 6, 2016

http://www.scmp.com/

Resource-hungry China is stepping up activity in one of the final frontiers of mineral wealth – the remote seabeds lying kilometres beneath the Indian and Pacific oceans.

The world’s largest consumer and importer of minerals and metals is now studying the core technologies of seabed mining in the Indian Ocean, according to Tao Chunhui, one of the country’s leading oceanographers and a researcher at the State Oceanic Administration.

Vast sulphide deposits on the 3,000 metre deep seabed might contribute to China’s metal supplies in the long term as it tried to narrow the technological gap with other maritime powers, said Tao, who was chief scientist of a number of China’s Indian Ocean expeditions. The volcanically formed hydrothermal sulphides on the seabed contain copper, zinc and precious metals including gold and silver. They are formed in hot underground springs seeping through cracks in the seabed.