Charltons Natural Resources

20/09/2024

On 12 September, 2024 in a strategic move to enhance the country’s benefits from its critical mineral resources, Zambia has unveiled plans to establish a state-owned firm that will hold a 30% stake in all new mining projects involving critical minerals such as copper, cobalt, graphite, and lithium.

The announcement was made by Mines Minister Paul Kabuswe, who outlined the government’s strategy to leverage Zambia’s position as Africa’s second-largest copper producer and its significant deposits of other critical minerals crucial for the global energy transition.

The state-owned firm will operate under a “production sharing mechanism,” ensuring that at least 30% of the output from new mining projects involving critical minerals is allocated for local benefits. This initiative aims to maximize the country’s gains from its valuable mineral resources.

Zambia’s copper industry has attracted significant investment from major mining companies such as Barrick Gold Corp., First Quantum Minerals Ltd., and China Nonferrous Mining Corp. Also, the Konkola and Mopani copper mines, managed by Vedanta Resources Ltd. and Abu Dhabi’s International Resources Holding, respectively, are expected to boost production substantially.
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02/09/2024

First Quantum Minerals has achieved a major milestone with the commercial production at its Enterprise nickel mine in Zambia, set to become Africa's biggest nickel operation. This brings Zambia closer to its goal of becoming a key supplier of battery metals for the rapidly growing electric vehicle industry.

The Enterprise mine, located near First Quantum's Sentinel copper mine, took slightly over two years to build and commission. During the second quarter of 2023, it produced 6,147 tonnes of nickel, a 53% increase from the previous quarter. Once at full capacity, the mine is expected to produce around 30,000 tonnes of nickel concentrate annually, making it a top 10 global nickel producer.

In a separate development, First Quantum has agreed with Jiangxi Copper, its second-largest shareholder, to limit Jiangxi Copper's ownership in the company. This agreement could potentially pave the way for a future deal to sell Jiangxi a minority stake in First Quantum's Zambian assets.
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First Quantum starts up Zambia nickel mine, enters standstill deal with Jiangxi NATURAL RESOURCES News August 2024 First Quantum starts up Zambia nickel mine, enters standstill deal with Jiangxi   On 23 August, 2024 TSX listed First Quantum Minerals announced that it has achieved commercial product...

27/07/2023

The world’s second-largest miner, Rio Tinto, indicates a potential review of the $140 million cost estimate and timeline for its Rincon lithium project in Argentina due to escalating costs. Rincon holds reserves of nearly 2 million tonnes of contained lithium carbonate equivalent, projected to provide a 40-year mine life. The asset plays a pivotal role in Rio Tinto’s plan to meet the growing demand for lithium, expected to rise 25-35% yearly over the next decade. However, committed lithium supply and capacity expansions are anticipated to cover only 15% of this demand growth over the 2020-2050 period.

For more information, please follow the link: https://rb.gy/1v7nk !

27/07/2023

India’s Tata Group plans to invest £4 billion ($5.2bn) to build an electric vehicle (EV) battery plant in Somerset, south-west England to supply its Jaguar Land Rover factories. Scheduled to become operational in 2026, the factory is expected to create 4,000 jobs and generate an initial output of 40-gigawatt hours (GWh). UK Prime Minister Rishi Sunak views the move as a major step in transitioning the country’s auto industry towards EVs. However, the exact amount of financial support the government provided to secure the investment remains undisclosed.

For more information, please follow the link: https://rb.gy/plahx !

27/07/2023

Neo Performance Materials Inc. has embarked on a project to establish Europe’s first-ever rare earth magnet manufacturing facility in Narva, Estonia. This facility will manufacture permanent rare earth magnets to meet the growing demands of electric vehicles, wind turbines, and other clean energy technologies. Set to commence operations in 2025, the initial phase is estimated to aid the production of around 1.5 million electric cars, ramping up to 4.5 million in the second phase.

For more information, please follow the link: https://rb.gy/zq5ld !

27/07/2023

The Democratic Republic of Congo (DRC) has reportedly signed a $1.9bn Mining Development Partnership with the United Arab Emirates (UAE) to establish over four industrial mines in the eastern Congo. Led by the country’s State Minister Sheilk Shakhboot Nahyan Al Nahyan, the UAE delegation is composed of several private and public business leaders. Although the press release did not mention which minerals will be mined, the region is known to be rich in gold, tin ore, and tantalum.

For more information, please follow the link: https://rb.gy/a4zym !

19/07/2023

Rainbow Rare Earths and Mosaic have entered into a Memorandum of Understanding to study the feasibility of extracting rare earth elements (REEs) from Mosaic’s project in the Uberaba region of Minas Gerais in Brazil. The partnership aims to develop a process flowsheet to extract REEs from Mosaic’s phosphogypsum stack. This collaboration offers the potential for simpler hydrometallurgical processes to yield separated and purified rare earth oxides. Rainbow CEO, George Bennett, sees this as an opportunity to apply their proprietary extraction technology developed with K-Tech, fostering Rainbow’s transformation into a multi-asset REEs producer from secondary sources.

For more information, please follow the link: https://rb.gy/ju6mh !

19/07/2023

The US Department of Energy (DoE) has unveiled a $32 million investment plan for the development of facilities capable of manufacturing rare earth elements, other critical minerals and materials from domestic coal-based resources. The initiative is part of President Biden’s Investing in America agenda, aimed at supporting domestic supply chains and reducing reliance on overseas sources. The US currently imports over 80% of its rare earth elements, which could be used to manufacture clean energy technology like solar panels, wind turbines, electric vehicles and hydrogen fuel cells.

For more information, please follow the link: https://rb.gy/g3z1r !

18/07/2023

Mitsubishi Corp has reportedly injected CAD $20M into Marimaca, a company developing the Marimaca Copper Project in Chile’s Antofagasta region, prompting a 2.2% boost in Marimaca’s share value. Hayden Locke, CEO of Marimaca, believes that the investment will facilitate company’s progress towards a feasibility study and permitting. According to the feasibility study, the company may produce 50kt of copper cathodes annually for at least 15 years. Locke also said that the strategic location of the project will pave the way for it to be among the lowest carbon intensity copper producers in the industry.

For more information, please follow the link: https://rb.gy/cu0o2 !

18/07/2023

In response to increasing pressure from the US and its allies to bolster the production of critical minerals in North America for use in electric vehicles, solar panels, and wind turbines, Canada plans to expedite mining project permits by year’s end. Heather Exner-Pirot, special adviser with the Business Council of Canada, emphasised the urgency for Canada to stay competitive in the race for critical minerals. The Trudeau administration will also reportedly work to enforce the 2019 Impact Assessment Act, which aimed to remove regulatory barriers for permitting.

For more information, please follow the link: https://rb.gy/jpfb9 !

18/07/2023

Chinese multinational mining group Zijin Mining Group Company Limited is currently in talks with Argentina’s mining company Camyen about a potential joint venture to build a mining plant. The plant, with an annual production capacity of 50,000 tonnes of lithium iron phosphate, is set to begin its operation in 2024. This venture taps into Argentina’s rich lithium reserves, with the output serving as a key component in electric vehicle batteries. Zou Liachang, the company’s President, believed that the move aligns with Zijin’s ambition to rank among the world’s top three mining companies by 2030.

For more information, please follow the link: https://rb.gy/9oet3 !

18/07/2023

UK-based investment firm Appian Capital Advisory LLP is aggressively venturing into the mining and metals industry. With assets under management totalling $3.6 billion, the company plans to deploy more than $2 billion in funds over the next few years. Appian has previously acquired 89.96% of Trevali Mining Corporation, which had sought creditor protection. The company also invested significantly in the zinc market with key transactions with Osisko Metals and Western Potash Corporation. CEO Michael Scherb highlighted their intent to target commodities such as tin and potash, which are potentially at risk of structural shortages.

For more information, please follow the link: https://rb.gy/jb9si !