10 Jan, 2022
Serbia may nix deals for Rio's Jadar; BHP to invest in Tanzanian nickel
TOP NEWS IN METALS & MINING
* Serbia may move to cancel all contracts with Rio Tinto Group related to the development of the Jadar lithium mine amid protests by environmentalist groups against the operation, Reuters reported, citing a statement from Prime Minister Ana Brnabić on television network Pink.
* BHP Group will invest up to $90 million in Kabanga Nickel Ltd., which owns a nickel project in Tanzania, as the world's largest mining company by market value seeks to boost its exposure to metals needed for a low-carbon economy, Dow Jones Newswires reported.
➤ Uranium heavyweights flirt with reopening mothballed mines amid Kazakh unrest
The turmoil could have long-term consequences if uranium buyers decide to turn to more stable geopolitical climates for their nuclear fuel supply, some industry analysts said.
➤ Climate change could cause West Coast blackouts, spike energy costs – studies
Extreme heat and drought are likely to have a range of impacts on U.S. West Coast grids, from increased power prices to widespread blackouts, according to two recent studies.
BASE METALS
* MMG Ltd. faces another threat of protests at its Las Bambas copper mine in Peru, just a few days after it resumed operations following the lifting of a road blockade, Reuters reported.
PRECIOUS METALS
* Adriatic Metals PLC's Vares silver project in Bosnia-Herzegovina is fully funded through to production after the mining company executed a $142.5 million project finance debt package with Orion Resource Partners (UK) LLP.
BULK COMMODITIES
* Fortescue Metals Group Ltd. is considering handing over mining at its Iron Bridge magnetite mine in Western Australia to a contractor in order to cut capital costs for the up to US$3.5 billion operation, The Australian reported.
* Vale SA has partially stopped production at the Brucutu and Mariana iron ore mines in Brazil due to heavy rainfall in the country's Minas Gerais state.
* Brazil's National Mining Agency ordered Vallourec SA to suspend operations at the Pau Branco iron ore mine in Minas Gerais after heavy rainfall caused a dike at the mine to overflow into a federal highway, Reuters reported, citing a company statement.
* Commercial Metals Co. plans to construct a new micro steelmaking mill that will primarily serve the Northeast, Midwest and mid-Atlantic regions in the U.S. The company is currently in the process of looking for a site for the facility.
* Tata Steel Ltd.'s Indian steel production increased to 4.80 million tons in the third quarter of its fiscal year 2022 from 4.60 Mt in the prior-year period, while deliveries dipped to 4.41 Mt from 4.65 Mt.
* The auto sheet joint venture between POSCO and Hbis Co. Ltd. in China's Hebei province kicked off construction, Reuters reported. The partners will invest 4.13 billion Chinese yuan in the venture.
* Output from AIP LLC's Dunkirk aluminum smelter in France, formerly owned by Sanjeev Gupta's GFG Alliance Ltd., will be reduced by a further 5%, after initially cutting output by 10%, in response to escalating electricity prices, Reuters reported, citing a spokesperson for the facility.
* Israel started importing aluminum from Bahrain, Reuters reported, citing Israeli ambassador to Bahrain Eitan Na'eh's interview with newspaper al-Ayam.
* Yara International ASA will wind down its sourcing of potash in Belarus as sanctions on the country have affected the supply chain.
SPECIALTY
* Codelco will begin lithium exploration at the Maricunga salt flats in the Atacama desert in the first quarter. Exploration activities are expected to last 10 months but may take longer, depending on weather conditions in the coming winter, the state-owned mining company told daily La Tercera.
* JSC National Atomic Co. Kazatomprom's mines and production facilities are operating normally but are facing a high risk of supply chain disruption amid turmoil in Kazakhstan, Dow Jones Newswires reported.
* The Santiago Appeals Court in Chile rejected a legal challenge by some lawmakers to halt the government's bidding process for lithium mining contracts, Reuters reported. Sociedad Química y Minera de Chile SA and Albemarle Corp. are two of the five companies participating in bids for contracts to explore and produce 400,000 tonnes of lithium.
