Hints and tips:
...HOLD: Rio Tinto (RIO) Over-supply in copper and industrial minerals markets has weighed on prices, writes Mark Robinson. Talk about good timing....
...BYD’s Indonesia chief Eagle Zhao did not comment on the figures, but said the group would start construction of its facilities this year....
...Its Kennecott copper mine in Utah produces 150,000 tonnes a year....
...OZ Minerals, the south Australian nickel, copper and gold miner, is close to being acquired by BHP for $6.4bn, while Canada’s Yamana Gold is being broken up after Agnico Eagle and Pan American Silver paid...
...The US produced some cobalt, with Michigan’s Eagle Mine unearthing the mineral as a byproduct of its nickel operations....
...The administration of Joe Biden is also keen to develop a North American-based supply chain for minerals such as nickel, Henri van Rooyen, chief executive of Talon Metals, said....
...Rio Tinto declared force majeure on customer contracts at its Richards Bay Minerals titanium mine in South Africa “due to an escalation in the security situation at the operations.”...
...Further reading Saudi Arabia seeks bigger oil cut as coronavirus slashes demand Opec eyes further oil supply cuts to counter coronavirus rout Companies news and earnings The fate of Sirius Minerals will...
...The pain is especially acute for 578 local employees of Blackjewel, a mining company that filed for Chapter 11 bankruptcy on July 1. Workers on its Eagle Butte and Belle Ayr sites were ordered out....
...Today, a resurgence in mining, prompted by new technology, is once again promising mineral riches, while dividing the town over economic and environmental issues....
...After lunch Anika took us to visit Kapisillit, 45 minutes away, a sea eagle following us as we slalomed at speed through a moving maze of icebergs....
...In the early 1970s, under President Salvador Allende, the country’s copper mines were nationalised, with US companies such as Kennecott, Anaconda and Cerro denounced for seeking quick profits....
...Every other tree held a steppe eagle, gazing over the herds like wedding guests contemplating a feast....
...With killer whales swimming in the pristine fjord and sea eagles soaring above it, the scene offers a postcard-perfect image of Norway....
...But Kennecott represents a matchless blend of history and landscape....
...Since 2006, when Evo Morales became president, the economy — a big exporter of gas and minerals — has almost tripled in size....
...Companies funded their drilling programmes with a steady inflow of capital....
...Mongolia’s finances are stretched, with declining export revenues resulting from sharp falls in the prices of coal, copper and other mineral exports, plummeting foreign investment and a weakened currency...
...Ranch owners became overnight millionaires by leasing their mineral rights....
...Since then, the company has made some changes to its oil and gas portfolio, and paid down debt — selling holdings in the Eagle Ford shale to Encana while buying offshore fields in the Gulf of Mexico....
...Aquila has two main assets requiring investment: 50 per cent stakes in coking coal at Eagle Downs in Queensland and in the Western Pilbara Iron Ore Project in Western Australia....
...Legal systems that generally allot mineral rights to landowners, rather than to governments, have created financial incentives for them to allow oil and gas companies on to their property....
...Oil companies who rushed to buy acreage in Ohio’s Utica shale a few years ago have discovered the rock is not as porous as in other formations such as Texas’ Eagle Ford or the Bakken, and there is less natural...
...Russia’s parliament recently granted a 100 per cent waiver of mineral extraction tax for companies operating in the Bazhenov and is now mulling over a cut in export duty as well....
...Ministers have proposed a waiver of Russia’s onerous mineral extraction tax for companies drilling in the Bazhenov....
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