Weekly roundup: The mining week in review
Bank of America’s announcement on Wednesday -- a new policy that will significantly reduce its lending to coal extraction companies and coal divisions of broader mining companies – is expected to have major implications on the coal industry.
Writing a bid for a tender is always a time-consuming and costly business. In the current mining economy, it's not a process most companies can enter into lightly. Therefore, Austmine decided to catch up with member company, BidWrite, and their Director and Co-Founder, David Lunn, on what it takes to write a winning bid.
As one of the most common metals in the world, aluminium doesn’t get the credit it deserves. The silver white metal, which only occurs in compounds and never in a free form, is the second most used metal in the world. It can be found in everything from planes, cars to buildings, machinery, consumer durables, packaging and even electrical uses.
Rio Tinto is one of the largest and most diverse metals and mineral mining companies in the world. Headquartered in London, the company specializes in major products such as aluminium, copper, diamonds, gold, industrial minerals, iron ore, thermal and metallurgical coal and uranium, with operations across the globe.
Social media has become the quintessential networking tool for people, businesses and organizations alike. It has the power to connect brands to their consumers, inform audiences on current topics and trends, and engage audiences to interact and discuss opinions. Whether we like it, use it, or just don’t understand it, social media can be useful for everyone—even mining companies.
This summer’s must-attend mining event is the Austmine 2015: Transforming Mining conferencein Queensland, Australia. The landmark forum will bring together the most innovative products in the market with the most pressing challenges in the mining sector around the globe today.
Komatsu has unveiled a new equipment rental business for its Australian mining market, which will provide more than 200 Komatus construction and utility machines with a team of 11 staff.
Goldman Sachs wants no more. The American multinational investment banking firm is reportedly planning to sell its coal mines in Columbia, and is even willing to take a loss to do so.
According to sources quoted in The Wall Street Journal, the banking firm has endured intense environmental problems from locals, previously prompting the government to order certain companies in the region to relocate three entire villages.
Don’t call it a comeback. Australian mining company Atlas Iron has decided to resurrect mining production at its Pilbara mines in Western Australia, after previously suspending operations due to declining iron ore prices. The company will now continue to export through May
Global iron ore production to recover by 5.1% in 2021
Global iron ore production fell by 3% to 2.2bnt in 2020. Global production is expected to grow at a compound annual growth rate (CAGR) of 3.7% to 2,663.4Mt between 2021 to 2025. The key contributors to this grow will be Brazil (6.2%), South Africa (4.1%), Australia (3.2%) and India (2.9%). Key upcoming projects expected to commence operations include South Flank in Australia (2021), Zulti in South Africa (H2 2021), Serrote Da Laje in Brazil (H2 2021) and Gudai-Darri (2022), according to GlobalData, a leading data and analytics company.
Vinneth Bajaj, Associate Project Manager at GlobalData, comments: “Declines from Brazil and India were major contributors to the reduced output in 2020. Combined production from these two countries fell from a collective 638.2Mt in 2019 to an estimated 591.1Mt in 2020. The reduced output from the iron ore giant, Vale, was the key factor behind Brazil’s reduced output, while delays in the auctioning of mines in Odisha affected India’s output in 2020.
“Miners in Australia were relatively unaffected by COVID-19 due to effective measures adopted by the Australian Government, while a speedy recovery in China led to a significant 10.4% increase in the country’s iron ore output.”
Looking ahead, the global iron ore production is expected to increase by 111.3Mt to 2,302.5Mt in 2021. Rio Tinto is expected to produce up to 340Mt of iron ore, while BHP has released production guidance of 245–255Mt, supported by the start of the Samarco project in December, which is expected to produce between 1–2Mt.The company has retained its guidance for Australian mines at 276–286Mt on a 100% basis, due to scheduled maintenance work at its ore handling plant and tie-in activity at the Area C mine and South-Flank mine.
Bajaj added: “The remaining companies are expected to produce more than 600Mt of iron ore, including FMG, whose production is expected to range between 175–180Mt supported by its Eliwana mine that commenced operations in late December 2020, and Anglo American, which is expecting to produce between 64–67Mt. Vale is expected to resume 40Mt of its production capacity, taking its overall production capacity to 350Mt in 2021, with production guidance of 315-335Mt.”