Top Tianqi shareholders to sell 4% stake; 4 dead at SAIL's Rourkela steel plant

TOP NEWS IN METALS & MINING

* Tianqi Lithium Corp.'s two top shareholders, Chengdu Tianqi Industry Group Co. Ltd. and Zhang Jing, wife of Tianqi chairman Jiang Weiping, intend to sell a total of 4% of their stakes over a six-month period this year to raise about $400 million to aid the debt-laden company, Nasdaq reported.

* Four contract workers at Steel Authority of India Ltd.'s Rourkela steel plant in eastern India died following a suspected gas leak. The state-owned steelmaker said a committee was formed to launch an investigation over the incident.

➤ Metals, mining companies gain another 9.6% in market value in December

Despite a pandemic rocking the global economy, the 25 largest metals and mining companies in the world finished the year with a median market value that was 85.9% higher than a year-ago.

➤ Geopolitics takes back seat to trade needs in Sichuan Yahua, Tesla lithium deal

Sichuan Yahua Industrial Group Co. Ltd.'s main spodumene supplier, Galaxy Resources Ltd., said the Chinese group's recent lithium deal with Tesla Inc. shows that trade necessities can trump political anxieties, particularly with demand rising.

➤ Uncertainties that drove gold to new highs to remain in 2021 – strategist

Many of the factors that drove gold markets to record highs could continue to push the price higher in 2021, said George Milling-Stanley, the chief gold strategist at State Street Global Advisors, told S&P Global Market Intelligence.

DIVERSIFIED

* BHP Group CEO Mike Henry said female representation at the company has increased to a new high of 26.5%, as part of the mining giant's goal to improve diversity and achieve gender balance across its workforce by 2025, The Sydney Morning Herald reported.

BASE METALS

* Zambia's Lusaka Court of Appeal ruled that the state-appointed liquidator for Vedanta Resources Ltd. unit Konkola Copper Mines PLC will not be discharged, despite a ruling in November to halt proceedings to allow Vedanta to seek arbitration, Reuters reported.

* Copper prices hit the highest in nearly eight years amid hopes for more U.S. stimulus as Democrats win control of the Senate, Reuters reported.

* Codelco accepted a principal amount of $397.5 million for purchase of its 4.500% notes due 2025 and a principal amount of $232.2 million for purchase of its 3.625% notes due 2027 in its recent tender offers.

* Alba Mineral Resources PLC's exploration license for the Limerick zinc project in Ireland has been renewed until May 26, 2022.

PRECIOUS METALS

* Two people died while three others were safely rescued after a rockfall occurred at the Vein 25 in the east zone of Trans-Siberian Gold PLC's Asacha gold mine in Russia.

* Viscount Mining Corp. granted a Centerra Gold Inc. an option to acquire a 70% stake in the Cherry Creek silver project in Nevada over a four-year period.

* The Perth Mint's sales from gold bars and minted coins declined to 76,806 ounces in December 2020, down 8.7% from a seven-month high in the prior month, while silver coin sales dropped 15.8% to 941,767 ounces, the lowest since May. However, the Perth Mint said that full-year 2020 sales were strong, Reuters reported.

BULK COMMODITIES

* Iron ore prices rose by more than 70% in 2020, but this failed to put a dent on iron ore stocks held at Chinese ports, which ended the year at almost the same level it had started the year, according to S&P Global Platts.

* Environmental activists criticized the U.K. government's decision to allow West Cumbria Mining Ltd. to operate a new deep coal mine for a 30-year period, contrary to the country's pledge to eliminate net carbon emissions by 2050, Financial Times reported.

* Market analysis revealed that no coal-laden ships bound for China left Australia's ports in Queensland and New South Wales in December, leaving a bleak possibility of the two countries resuming trade for the commodity in the near term, The Guardian reported.

* Gerdau SA was selected to be part of Brazilian bourse B3's Carbon Efficient Index composed of companies in the Brazil 100 Index committed to efficiency and transparency in managing their greenhouse gas emissions.

SPECIALTY

* Global natural graphite production in 2021 is expected to increase 7.6% to 1.03 million tonnes, following a 15.4% decline in 2020 output to 952,600 tonnes caused by COVID-19-related lockdowns and restrictions, Mining.com reported, citing Vinneth Bajaj, senior mining analyst at GlobalData.

* India's state-owned NMDC Ltd. was allowed to resume operations at its Panna diamond mine, following a temporary suspension due to its environmental clearance expiring on Dec. 31, 2020, Hindustan Times reported.

INDUSTRY NEWS

* Rothschild & Co. will serve as advisor to Boart Longyear Ltd. to support the company's strategic review of potential options, which may include refinancing or recapitalization, in anticipation of the maturation of its debt facilities through the second half of 2022.

MARKETS

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