May 17, 2020

[SLIDESHOW] Mining Industry: Social Responsibility Programs in Action

Anglo American
Newmont Mining
Barrick Gold
Goldcorp
Admin
1 min
In the eMalahleni region of South Africa, Anglo American has found a way to use excess mine water to fill its own needs, create jobs, and provide clean water to residents.
The term Corporate Social Responsibility (CSR) in the mining industry refers to voluntary actions taken by companies to either improve the living condit...

The term Corporate Social Responsibility (CSR) in the mining industry refers to voluntary actions taken by companies to either improve the living conditions of local communities via economic, social, environmental or to reduce the negative impacts of mining projects.

The idea is to go beyond that of legal obligations, contracts and license agreements.

CSR programs typically include investments in building social capital (providing school buildings, workshops on gender issues, family planning, improving hygiene), infrastructure (electricity, roads, hospitals, drainage repairs), and human capital (training local people to be employed by mining companies, and promoting and providing skills).

Companies leading by example include Anglo American, Newmont Mining, Barrick Gold, Rio Tinto, De Beers and Goldcorp, all of which have comprehensive community and sustainability programs in place.

The International Council on Mining & Metals (ICMM), one of the leading mining organizations in the world, strongly urges member companies to implement social and environmental programs in operating areas, including health programs.

According to ICMM, the organization strives in addressing community health issues. “ICMM member community health initiatives will need to continue to learn from experience, to refine and evolve health programming to maximize and sustain health impacts.”

The following images display the positive results of mining initiatives in operating countries. 

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Apr 22, 2021

Lynas revenue jumps 21% as rare earth prices jump

Lynas
RareEarth
WindTurbines
electricvehicles
2 min
Lynas Rare Earths sees revenue boost as selling prices for the key metals hit record highs amid strong demand for neodymium and praseodymium (NdPr)

Australian miner Lynas Rare Earths posted a 20.6% rise in revenue in the March quarter as selling prices for the key metals it mines hit record highs amid strong demand, particularly for neodymium and praseodymium (NdPr).

NdPr

NdPr is used in magnets for electric vehicles and windfarms, in consumer goods like smartphones, and in military equipment such as jet engines and missile guidance systems.

The company said it plans to maintain production at 75% however, as it seeks to continue to meet covid-19 safety protocols and grapples with shipping difficulties. Shares in Lynas fell 6.1% after the results.

“They have faced a few logistics issues, and it would be good to know when they are going to start lifting their utilisation rates a bit,” said portfolio manager Andy Forster of Argo Investments in Sydney.

“Pricing has been pretty strong although it may have peeled back a bit recently. I still think the medium, long-term outlook is pretty good for their suite of products.”

Lynas post ed revenue of A$110mn ($85.37mn) for the three months to the end of March, up from A$91.2mn a year earlier as prices soared.

Rare Earths

It said its full product range garnered average selling prices of A$35.5/kg during the March quarter, up from $23.7 in the first half of the financial year. “While the persistence of the covid crisis, especially in Europe, calls for careful forecasts for our business ahead, we see the rare earth market recovering very quickly,” said Lynas, the world’s largest rare earths producer outside China.

Freight demand has spiked during the pandemic, while the blockage of the Suez Canal in March delayed a shipment to April.

Lynas’ output of 4,463 tonnes of rare earth oxide (REO) during the quarter was marginally lower than 4,465 tonnes from a year earlier.

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