May 17, 2020

Alderon Iron Ore Corp gets the Green Light for Kami Project

Alderon Iron Ore Corp
Kami Project
Canada
Iron ore
Admin
2 min
Alderon Iron Ore Corp gets the Green Light for Kami Project
The provincial government of Newfoundland and Labrador has reached a benefits agreement with Alderon Iron Ore Corp. to develop a new iron ore mine.The K...

The provincial government of Newfoundland and Labrador has reached a benefits agreement with Alderon Iron Ore Corp. to develop a new iron ore mine.

The Kami project, which is located near Wabush and Labrador City, is owned 75 percent by Alderon and 25 percent by Hebei Iron and steel Group. At full capacity the mine will produce approximately eight million tons per year with an estimated mine life of 30 years.

According to Tayfun Eldem, Alderon President and CEO, finalizing the benefits agreement and receiving surface and mining leases mean "all the conditions of release from both the Federal and Provincial environmental assessment processes. Once the financing plan is complete, we will be ready to commence construction."

The capital cost of development is estimated at $1.27 billion.

"In addition to approximately $3.9 billion in tax revenues, this mine will add an impressive $25.4 billion to the Province’s GDP. With a total direct investment of $11.9 billion, the Kami Project will also create approximately 800 construction and 500 full-time production jobs," according to Alderon.

The company is expected to employ roughly 800 people during construction of the mine, and other 400 when it’s in operations. Alderon has also agreed to hire apprentices in skilled trades to work on the development of the project.

"Initiatives include training and education, a recruitment and selection process that emphasizes fairness, equity and equal opportunity, steps to encourage employee retention and targets for women's employment," he said.

Eldem said construction will begin this summer based on securing full funding.

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Jul 20, 2021

British Lithium Pressured Due To Calls for Electric Cars

BritishLithium
mining
Lithium
Sustainability
3 min
The ever-increasing need for electric vehicles is mounting pressure on British Lithium as the 2035 deadline inches closer

The British demand for lithium is set to reach 75,000 tonnes by 2035 as the government works towards their ban on the sale of high-polluting diesel and petrol vehicles within the UK. This comes as automakers worldwide continue to insist on the benefits electric vehicles will have on slowing the rate of climate change. 

It is estimated that the UK will require 50,000-60,000 MT of lithium carbonate a year by 2035 for battery production to satisfy government needs. This is assuming production remains at 1.2 million vehicles per year, and the amount of lithium required does not increase.

British Lithium, which hopes to begin constructing a quarry to produce 20,000 MT of lithium carbonate a year in a $400 million investment, are not without competitors, both within the UK and abroad. 

Competition For Lithium Rises In Europe 

After only five years after its initial launch, Cornish Lithium is setting its sights on becoming a UK powerhouse in mining lithium, aiming to begin commercial production in under four years. Jeremy Wrathall, a former investment banker and current managing director of Cornish Lithium, had the future in mind when founding the company. 

“In 2016, I started to think about the electric vehicle revolution and what that would mean for metal demand, and I started to think about lithium,” he said in an interview with AFP. “A friend of mine mentioned lithium being identified in Cornwall, and I just wondered if that was a sort of unrecognised thing in the UK.”

Lithium was first discovered in Cornwall around 1864 and has not been mined again since 1914 when it was produced as an ingredient in fireworks. Now, however, Cornish Lithium is reportedly in the testing stage to see if the metal can be produced commercially to meet the growing demand required for the electric car sector. 

Despite Cornwall’s close historic ties to mining lithium, Wrathall insists that the project is purely commercial. 

Cornish Mining Revival For Lithium Production

“It’s not a mission that drives me to the point of being emotional or romantic,” he says. “It’s vitally important that we do get this technology otherwise Europe has got no lithium supply.”

The European Commission has also stated their goal to end the sale of new petrol and diesel cars by 2035 to aid the environment. That being said, the majority of lithium extraction currently relies on power provided by environmentally damaging fossil fuels─a slight contradiction. 

Alex Keynes, from the Brussels-based lobby group Transport & Environment, is adamant that mining for lithium should be done sustainably. 

“Our view is that medium-to-long term, the majority of materials including lithium should come from efficient and clean recycling.

“Europe from a strategic point of view should be looking at securing its own supply of lithium.”

Despite growing competition from abroad, British Lithium Chairman, Roderick Smith, continues to place importance on the mining of lithium within the UK. 

“Imagine what the UK economy would look like if we lost our automotive industry,” Smith says. “The stakes are high for the UK.”

Smith expects the UK to compete with other European countries to secure a lithium battery plant in the near future.

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