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Apple to use recycled rare earths; Sasol to sell South African coal businesses

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Essential Metals Mining Insights November 2021

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[Infographic]: 2021 World Exploration Trends


Apple to use recycled rare earths; Sasol to sell South African coal businesses

TOP NEWS

Apple to use recycled rare earths in iPhones

Apple Inc. will use recycled rare earth elements in its iPhones, Reuters reported, citing Lisa Jackson, Apple’s vice president of environment, policy and social initiatives. The minerals will be used in the iPhone's taptic engine, which simulates a physical button click. Jackson said the move is not related to the U.S.-China trade war, although it may help the U.S. keep a steady domestic supply of the specialized minerals, the report said.

Report: Sasol plans sale of South African coal mining business in coming weeks

Sasol Ltd. plans to start a formal sales process for its South African coal mining business in the coming weeks, Bloomberg News reported, citing people familiar with the matter. With a turnover of 20 billion South African rand in 2018, the mining business produces about 40 million tonnes of coal per annum and sells almost exclusively to other parts of the Sasol group.

Mexico 'very optimistic' over talks to end blockade at Newmont's Peñasquito mine

Amid a blockade of Newmont Goldcorp Corp.'s now suspended Peñasquito gold mine in Mexico's Zacatecas state, Francisco Quiroga, the undersecretary of mines with the Ministry of Economy, said government talks with community leaders over key issues are ongoing and set to expand, according to an exclusive S&P Global Market Intelligence report. The company offered US$25 million in community projects to help resolve the conflict, Reuters reported.

BASE METALS

* The London Metal Exchange pushed the implementation of a ban on cobalt said to be tainted by human rights abuses to 2025 from 2022 to give producers more time to comply with guidelines and the exchange to rejig its approach, Reuters reported, citing unnamed sources.

* Hong Kong-listed North Mining Shares Co. Ltd. entered a memorandum of understanding for the subscription of more than 30% of its shares by two potential investors for HK$400 million.

* PT Aneka Tambang Tbk signed an agreement with PT Bank Mandiri (Persero) Tbk to refinance a US$129 million investment loan, which will mature in June 2024, with a similar loan provision and a more competitive annual floating interest rate.

* Metals X Ltd. has launched a A$32.7 million equity raising to fund the company's reset plan and exploration activities for its Nifty copper project in Western Australia, as well as for general working capital requirements.

* Metallica Minerals Ltd. unit Nornico Pty. Ltd., which was recently placed into voluntary administration for nonpayment of royalties under a sale agreement for the SCONI scandium-cobalt project to Australian Mines Ltd., is proposing to submit a deed of company arrangement to settle the claims.

* A concentrate haulage contractor at Independence Group NL's Nova nickel operation in Western Australia died as a result of injuries sustained at the site from an undisclosed incident.

PRECIOUS METALS

* Kingston Resources Ltd. discovered a new zone of shallow high-grade gold at its Misima gold project in Papua New Guinea, and expects more to come as it builds up to feasibility studies starting mid-2020. Managing Director Andrew Corbett said in an interview that the explorer has always known Misima is an "elephant," and investors are now starting to understand how big it is and likely to grow with multiple exploration targets.

* China National Gold Group Corp. believes IAMGOLD Corp. will be a good fit with its acquisition strategy, Reuters reported, citing Jerry Xie, executive vice president of the group's China Gold International Resources Corp. Ltd. unit. Xie declined to say whether China Gold has held talks with IAMGOLD, which was rumored in June.

* As gold prices hover around six-year highs on the heels of significant consolidation in the sector, top gold producers are looking toward further growth opportunities with an emphasis on capital discipline, according to several gold executives at the Denver Gold Forum.

* Agnico Eagle Mines Ltd. identified additional milling capacity at its Meliadine gold project in Nunavut that may prompt an accelerated expansion decision, Mining Journal wrote, citing CEO Sean Boyd.

* INV Metals Inc. will commence financing and permitting efforts for its Loma Larga gold-copper-silver property in Ecuador, after the country's Constitutional Court rejected an application for a referendum to ban mining in the Azuay province and the Camilo Ponce Enriquez canton.

* A recent reverse circulation and aircore drilling program at Moho Resources Ltd.'s Empress Springs joint venture in Queensland, Australia, with Independence Group uncovered two new gold mineralized zones.

* An independent review of the structural controls on Conroy Gold & Natural Resources Plc's Clontibret gold deposit in Ireland identified the factors controlling the higher grades and thicker intersections along the gold lodes of the deposit, which will be key in future drilling programs.

BULK COMMODITIES

* U.S. Steel Corp. expects third-quarter adjusted EBITDA of about US$115 million and an adjusted diluted loss per share of 35 cents, compared to adjusted EBITDA of US$526 million and an adjusted diluted earnings per share of US$1.79 in the same quarter last year.

* India permitted Steel Authority of India Ltd. to sell iron ore equivalent to a maximum of 25% of its yearly output from the previous year in order to maintain security of raw material supplies prior to the expiration of 31 mining licenses in the country in 2020, Fastmarkets MB reported.

* United Co. Rusal PLC may resume dividend payments in the third quarter, pending the aluminum producer's results during the period, Vedomosti wrote, based on an Interfax report that cited Andrei Sharonov, a director for En+ Group IPJSC.

* Henan Shenhuo Group Co. Ltd. postponed the launch of an integrated hydropower and aluminum project worth 6.75 billion Chinese yuan in China's Yunnan province due to construction delays caused by poor weather, Reuters reported, citing a company spokesman.

* A federal district court denied Murray Energy Corp.'s motion for summary judgment, ruling in favor of a coal miners' union in a case determining what constituted "construction" at the Harrison County underground coal mine in West Virginia.

* China Vanadium Titano-Magnetite Mining Co. Ltd. has yet to restart its Maoling-Yanglongshan iron ore mine in China's Sichuan province after mudslides caused by severe flooding disrupted the operation in August.

* Harvest Minerals Ltd. received approval from Brazil's agriculture ministry for its new big bag handling and storage facility within its Arapua phosphate project.

* Australian Aboriginal Mining Corp. received a A$12.5 million loan from Australia's federal government to help fund the construction of its First Iron project in Western Australia, The West Australian reported.

* A fire razed PJSC Novolipetsk Steel's VIZ-Steel LLC steel plant in Yekaterinburg, Russia, Vedomosti reported. The fire is expected to not seriously affect production performance, Kommersant reported.

* Diatreme Resources Ltd. signed a second 12-month memorandum of understanding for the potential supply of photovoltaic grade silica sand from its Galalar silica project in Queensland, Australia.

* New South Wales' Independent Planning Commission refused to allow development for Korea Electric Power Corp.'s Bylong thermal coal project in the Australian state, citing concerns about long-lasting environmental, agricultural and heritage impacts.

SPECIALTY

* Hexagon Resources Ltd. Managing Director Mike Rosenstreich said in an interview with S&P Global Market Intelligence that a turnaround for the company is imminent, starting with an announcement of a new downstream investment in another battery-related mineral due in the week of Sept. 23.

* Sheffield Resources Ltd. obtained government approval for the mining proposal and mine closure plan for its Thunderbird mineral sands project in Western Australia.

* Livent Corp. is collaborating with E3 Metals Corp. to advance the development of the latter's proprietary direct lithium extraction process focused on its petro-lithium brines in Alberta's Leduc Formation.

* Platina Resources Ltd. aims to lower capital costs and enhance the revenue streams of its namesake Platina scandium project in New South Wales, Australia, by trialing new technologies at the operation, including a small-scale vat leaching and the extraction of high purity alumina from clarified leach solutions.

* Lucara Diamond Corp. unearthed a 123-carat gem-quality top white type II diamond from its Karowe mine in Botswana.

INDUSTRY NEWS

* At the Perumin mining conference, Peru President Martin Vizcarra said his administration supports mining activity that is competitive, formal, modern, as well as a socially and environmentally sustainable, while indicating the industry must respond to challenges, changes, and globalization's demands, news agency Andina reported.

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