SKILLINGS MINING REVIEW November 2023 by CFX Network, LLC

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Volume: 112. Issue.11. november 2023

A Clash of Promise & Peril in the American West Resolution Copper Project Resolution Copper mine could provide a quarter of the nation’s copper needs and double its tellurium reserves.

Strong quarter for Rio Tinto Rio Tinto has announced third-quarter 2023 production results for its global operations.

20 Botswana and De Beers signs 10-year Diamond sales deal

24 Blood on the Mountain Why you should watch this Coal Mining movie

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DRC Closing In on Peru as World’s No. 2 Copper Producer

Volume: 112. Issue.11. november 2023 Botswana and De Beers signs 10-year diamond sales deal

Why you should watch this Coal Mining movie

In the annals of filmmaking, certain works emerge not merely as cinematic endeavors but as potent vehicles for societal introspection.

Cobalt Prices Driven by Sentiment What Is the Actual Demand?

Strong quarter for Rio Tinto

Blood on the Mountain

A Clash of Promise and Peril in the American West Resolution Copper Project Resolution Copper mine could provide a quarter of the nation’s copper needs and double its tellurium reserves. Yet, every promise carries a price, and this one demands billions of gallons of water annually.

Rio Tinto has announced third-quarter 2023 production results for its global operations. Compared with the same period in 2022, iron ore production at the company’s Pilbara plant in Western Australia fell 1% to 83.5 million tons, but iron ore shipments increased 1% to 83.9 million tons. 06 M RC 40 Years of Global Search

Experience 07 Three benefits of a single supplier for bucket protection 12 Mining Indaba 2024: The return of the mining innovation & research battleground 13 Metso awarded contract to deliver MP800 cone crushers 14 ISOEnergy closes $36.6M private

placement for uranium hunt 17 DRC Closing In on Peru as World’s No.

2 Copper Producer 18 Brazil Potash’s Autazes Potash Project

Receives Support in Unanimous Vote from Mura Indigenous People 30 South32 manganese off to strong start but shipping backlogs loom 31 IMARC 2023:Australia poised to take

global lead in critical minerals 38 Genex contracts with Fortescue for

long-term purchase of 337.5 MW of power for Bulli Creek solar project (BCP) 42 Three technologies critical for green

steel 44 Centamin aims to over 500k ounces production in new Sukari mine

Skillings Mining Review of CFX Network LLC, publishes comprehensive information on global mining, iron ore markets and critical industry issues via Skillings Mining Review Monthly Magazine and weekly. SMR Americas, Global Skillings and Skilling Equipment Gear newsletters.

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Skillings.net | November 2023

MINING INDABA 2024

The return of the

Mining Innovation & Research Battleground Invest Africa Mining Indaba and Development Partners Institute launch the Mining Innovation and Research Battlefield 2024 for participants; Battlefield is a high-profile platform for innovators and researchers to share their insights into the challenges facing large, small and artisanal mining idea.

nvest Africa Mining Indaba and the Development Partners Institute have initiated the Mining Innovation and Research Battlefield 2024, offering a prominent platform for innovators and researchers to address challenges in large, small, and artisanal mining. Sponsored by BHP Xplor, this competition provides a $25,000 innovation grant to support early-stage innovation and research. The application deadline is November 6, with shortlisted candidates notified by November 30. Pitch rounds will occur online on December 14, 2023, and in Cape Town on February 6, 2024, during the Mining Indaba. Building on the success of the 2022 edition, this event, hosted by Invest Africa Mining Indaba and the Development Partnership Institute, aims to showcase early-stage innovations. Entrants are tasked with proposing innovative and responsible collaborations between Large-Scale Mining (LSM) and Artisanal and Small-Scale Mining (ASM) to contribute to a just energy transition. The Innovation and Research Battlefield serves to expedite solutions to sustainability challenges in the resources sector by connecting academics, researchers, the private sector, NGOs, and young innovators. BHP Xplor sponsors a $25,000 Innovation Grant to further support the winning projects, with results to be announced at the Mining Indaba conference in 2025.

Skillings.net | November 2023

Florence Drummond, Executive Director of DPI Mining, emphasizes the goal of bringing together passionate innovators to foster agile collaboration, driving real change in the mining and minerals industry. Laura Cornish, Head of Content at Mining Indaba, sees the Battlefield Challenge as instrumental in shaping the future of the mining industry. The first submission phase is currently open, inviting individuals, groups, and organizations to submit their innovative solutions and research proposals. Shortlisted participants will have the opportunity to pitch virtually in the first round of Battlegrounds. Winning participants in this round will receive a South African Indaba Mining Representative Card and can present their proposals live in the final round. Sheila Khama, former CEO of De Beers Botswana and a natural resource policy advisor to the World Bank and African Development Bank, moderates the event. The judging panel includes Mark Cutifani, co-founder of DPI Mining and former CEO of Anglo American, Sonia Scarselli from BHP Xplor, and executives from the artisanal mining industry. Interested parties can apply until November 6, with early applications encouraged. All applicants must be affiliated with the agency or organization assisting in the administration of the awarded innovation grant.

Metso awarded contract to deliver MP800 cone crushers BHP Billiton has awarded Metso a contract to install three high-performance Nordberg® MP Series™ cone crushers at its Whaleback mine in Western Australia. The order was recorded in the Minerals segment’s Q3 2023 order book. Metso said its cone crusher range includes four product families suitable for different applications and operations. Under the contract, Metso will perform detailed design work for CPP’s reduction furnace and other equipment for the BioIron process. “The Nordberg MP series cone crushers offer high productivity and crushing power, allow for size reduction and have high energy efficiency,” Mesto said in a press release. The Mount Whaleback mine is part of the Newman Processing Center, located in the Pilbara region. It opened in 1968.

etso will supply Nordberg MP Series cone crushers to Mount Whaleback, replacing long-standing MP cone crushers. BHP Billiton has contracted Metso to supply three MP800 cone crushers to its Whaleback Mountain mine in Western Australia. Under the contract, Metso will supply high-performance Nordberg MP series cone crushers designed for high throughput.

Vinicius Vilela, Vice President Mining Crusher at Metso, said: The MP800™ cone crushers will replace the long-serving MP cone crushers. The robust and high-capacity MP Series crushers are a step change in the crushing process, enabling maximum operator safety and easy maintenance, as the key components can be accessed from the top of the crushers. They provide a more sustainable solution, delivering high crushing force with relatively low energy consumption.

It is considered the world’s largest open-pit iron mine and is part of a joint venture between BHP Billiton, Mitsui & Co. and Itochu Corporation. Last month, Rio Tinto signed a contract with Metso to supply ten HP Series cone crushers for installation at its Tom Price iron ore mine in Western Australia. In August 2023, Rio Tinto selected Mesto to carry out design and engineering work for a continuous pilot plant (CPP) for the BioIron process. BioIron is a low-carbon iron manufacturing process using ore from Australia’s Pilbara mines. Metso is a pioneer in providing sustainable technologies, end-to-end solutions and services to the global aggregates, mineral processing and metal surface treatment industries. We become a partner in positive change by leveraging our process and product expertise to help customers increase productivity, improve energy and water efficiency, and improve environmental performance. Metso, headquartered in Espoo, Finland, has more than 16,000 employees in nearly 50 countries and had 2022 sales of approximately €5.3 billion.

ISOEnergy closes $36.6M private placement for Uranium hunt IsoEnergy (TSXV: ISO; OTCQX: ISENF) has completed a previously announced private placement to raise $36.6 million to continue its search for commercial uranium deposits. transaction. A plan of arrangement under the Business Corporations Act (Ontario) for IsoEnergy common shares has been completed. IsoEnergy intends to acquire all of the issued and outstanding shares of Consolidated Uranium (TSXV: CUR; OTCQX: CURUF). Merger shareholders will receive one-half of an IsoEnergy share for each Merger share held. The combined company is estimated to be worth approximately $903.5 million. The two companies have complementary uranium asset portfolios and potential global reach.

ISOENERGY INTENDS TO ACQUIRE ALL OF THE ISSUED AND outstanding shares of Consolidated Uranium. Merger shareholders will receive one-half of an IsoEnergy share for each Merger share held. The combined company is estimated to be worth approximately $903.5 million.

soEnergy (TSXV: ISO; OTCQX: ISENF) has completed a previously announced private placement to raise $36.6 million to continue its search for commercial uranium deposits. The company issued approximately 8.1 million subscription receipts, priced at $4.50 each. The bid is led by NexGen Energy, Mega Uranium and Energy Fuels, all players in the uranium industry. The

Skillings.net | November 2023

IsoEnergy’s portfolio includes the Hurricane uranium deposit at its 100%-owned Larocque East property in the eastern Athabasca Basin.

The deposit has indicated resources of 63,800 tonnes grading 34.5% uranium oxide (U3O8) and 48.5 million pounds of original offer was expanded with the U3O8. In addition, there are indicated involvement of Schem Cover Partners. resources of 54,300 tonnes of 2.2% U3O8, or 2.7 million pounds of U3O8. Each subscription receipt entitles the holder, without additional considera- IsoEnergy also owns three other uranium tion and without any further action by projects in the Athabasca Basin.Consolithe holder, to receive one share on or dated owns uranium mines and projects about the date IsoEnergy previously an- in Canada, the United States, Australia nounced a stock merger with Consolidat- and Argentina. ed Uranium to effect the court-approved

DRC Closing in on Peru as World’s No. 2 Copper Producer In the next two years, the Democratic Republic of Congo (DRC) is likely to overtake Peru as the world’s second-largest copper producer thanks to increasing investment, production, and favorable regulatory conditions.

s of 2023’s first half, copper production in the DRC increased by 10%, while that in Peru increased by 7%. Consequently, the DRC has moved even closer to surpassing Peru and becoming the second-largest copper producer globally. According to the United States Geological Survey (USGS), the DRC produced 2.2 million metric tons of copper in 2022, while Peru produced 2.1 million metric tons.

for electric vehicles are gaining more attention worldwide. In 2023, the Democratic Republic of Congo’s investment in the mining industry is projected to rise by 5%. Meanwhile, Peru’s investment is expected to decline by 16%. This contrast in investment levels may result in the DRC surpassing Peru as the world’s second-largest producer of copper in the nottoo-distant future.

Recently, the Democratic Republic of Congo announced its support for the establishment of a new copper-cobalt plant, locally owned. The aim of this project is to legitimize artisanal mining in the country, especially since minerals that are vital

Representatives from privately owned Congolese company Buenassa Sarl, revealed their plans to undertake a project that is estimated to cost approximately $350 million. To help raise financing for this venture, Washington-based financial

Skillings.net | November 2023

consulting firm Delphos International Ltd. has partnered with Buenassa Sarl and the government. Most of the country’s output is generated by large industrial mines owned by foreign companies, such as Glencore Plc and China’s CMOC Group Ltd. Nonetheless, both the government and industry have been urged to address the plight of informal miners, who toil by hand in dangerous conditions and help improve their situation.

Top 10 copper producers in the World Chile remains the world’s No. 1 copper producer, followed by Peru and the DRC. China is the world’s No. 4 copper producer, but its production is expected to decline in 2023 due to a number of factors, including environmental regulations and supply chain disruptions. The United States and Russia are the world’s No. 5 and 6 copper producers, respectively. However, Russia’s production is expected to decline sharply in 2023 due to the ongoing war in Ukraine and the resulting Western sanctions. Australia, Zambia, Mexico, and Kazakhstan are the world’s No. 7, 8, 9, and 10 copper producers, respectively. Their production levels are expected to remain relatively stable in 2023. Overall, the global copper market is expected to remain in supply surplus in 2023, as production is expected to outpace demand. This is likely to lead to lower copper prices for consumers.

top 10 copper producers in the world Rank

Country

2022 Production

(million metric tons)

2022 YearProduction over-year (million change metric tons)

(%)

Chile

5.2

5.3

+2.0%

Peru

2.4

2.5

+4.0%

DRC

2.4

2.6

+11.0%

China

1.9

1.8

-5.00%

U.S

1.3

1.4

+8.0%

Russia

0.9

-11.00%

Australia

0.9

-1.00%

Zambia

0.8

+5.0%

Mexico

0.8

+0.0%

Kazakhstan

0.7

+3.0%

DRC increasing its appeal to foreign investors The government of the DRC has implemented measures to enhance the country’s mining regulations, thereby increasing its appeal to foreign investors. Furthermore, the surge in copper prices over the past few months has rendered copper mining more lucrative, leading to a rise in investments in this sector. The Democratic Republic of Congo (DRC) boasts some of the planet’s most significant reserves of copper. Predictions indicate that copper production in the region will persist in its upward trend in the years to come. This increase will be spurred by both the growth of active mines and the creation of new ones. Even in the face of obstacles and difficulties, there remains a persistent drive to push forward and make progress. The Democratic Republic of Congo (DRC) is currently encountering various obstacles, such as political turmoil and hindrances in its infrastructure. Nevertheless, the government is making efforts to tackle these issues, and the DRC still holds a great appeal for investors in copper mining. Several initiatives have been undertaken by the government to enhance the infrastructure of the nation, such as the development of roads, railways, and ports. Additionally, the government is currently striving to establish a more secure political atmosphere, which will amplify investor trust even further.

The effect on the global copper market It is highly probable that the increasing copper production in the Democratic Republic of Congo will have a substantial effect on the worldwide copper market. As the DRC is anticipated to become one of the principal copper exporters in the near future, this development could potentially result in reduced copper prices for consumers. It should be emphasized that the copper market on a global scale is intricate and susceptible to a variety of influences, such as the demand for copper from China and other significant economies. Therefore, it is an arduous task to determine the exact effect that the Democratic Republic of Congo’s increased copper production will have on worldwide copper prices.

BRAZIL POTASH’S AUTAZES

Potash Project Receives Support in Unanimous Vote from Mura Indigenous People Brazil Potash's Autazes potash project in the Amazonas State of Brazil has received support from the Mura Indigenous people.

he Mura community, which represents 36 villages and around 12,000 indigenous residents, recently concluded free, prior, and informed consultations and participated in a vote that resulted in unanimous support for the project's construction. This decision signals a significant demonstration of the Mura's wishes and is an important step in the project's advancement. Leaders of the Mura community from Autazes, who represent 36 villages and around 12,000 indigenous residents, made a formal visit to the Government of Amazonas' headquarters on Monday, September 25th. They submitted a report and record of a General Assembly meeting that took place the previous week among indigenous chiefs in Autazes. This assembly ratified the community's decision to support the Autazes Potash Project. The event also saw the participation of Potássio do Brasil, state deputies, secretaries, and the president of IPAAM, the environmental licensing agency responsible for the project. Governor Wilson Lima of Amazonas stated that the Mura people's endorsement is pivotal not only for the Autazes municipality but also for the broader Amazonas region. He mentioned the possibility of establishing a new economic model for the state based on this support. José Cláudio dos Santos Pereira, the general coordinator of the Indigenous Mura Council (CIM), represented the Mura community during this occasion. He presented a letter and a report from the General Assembly, confirming that indigenous leaders have accepted the project's implementation. The project falls within 10 kilometers (around 6 miles) of two indigenous reserves, and the Mura people held the legal right to consultation in accordance with International La-

Skillings.net | November 2023

Source: Brazil Potash

bour Organization 169 protocols. A series of gatherings were conducted to inform the Mura about the project's potential impacts and benefits. Ultimately, consultations took place with 36 tribes, some located as far away as 70 kilometers (about 45 miles) from the project site. A vote was organized with the participation of over 200 Mura individuals, culminating in a positive outcome in favor of the project. The Mura community stands to gain various benefits from the development of the Autazes Potash Project, including opportunities for direct employment, funding for new businesses contributing to the project and local community, and the initiation of several programs aimed at improving general well-being as dictated by the Mura's wellness program.

FloLevel Technologies

The parties also agreed on a 25-year extension of the mining licences. Credit: De Beers UK Limited.

Botswana diamonds: Diamonds that are mined in Botswana. Botswana is the world’s largest producer of diamonds by volume, and its diamonds are known for their high quality. The mines in Botswana where diamonds are extracted. Some of the most famous Botswana diamond mines include Jwaneng, Orapa, and Letlhakane. Diamonds from Botswana are generally considered to be conflict-free. This is because the Botswana government has strict regulations in place to prevent the sale of conflict diamonds.

Botswana blue diamond: A rare type of diamond that is found in Botswana. Botswana blue diamonds are known for their deep blue color and high clarity.

De Beers lab grown diamonds: Diamonds that have been grown in a laboratory by De Beers. De Beers is one of the leading producers of lab-grown diamonds in the world.

Botswana and De Beers signs 10-year diamond sales deal De Beers has signed a 10-year sales agreement and 25-year lease deal with Botswana, transforming the diamond industry.

he deal covers Debswana's rough diamonds sale for 10 years and extends their mining licenses for 25 years. De Beers has increased Botswana's stake in the project from 30% to 50%. De Beers has agreed a 10-year sales and 25-year lease agreement with the Botswana government for assets starting in 2029, securing the natural rough supply chain. The deal, led by the Republic of Botswana and De Beers Group, is a significant milestone for both parties. De Beers also plans

Skillings.net | November 2023

to explore new diamond-rich territories in Angola, Canada, and South Africa.

Botswana, the second-largest diamond producer Botswana and De Beers Group have signed a groundbreaking agreement to sell Debswana's rough diamond production until 2033. The agreement also extends Debswana's mining

licensing deal by 25 years, ensuring collaboration until 2054. Botswana is now the second-largest diamond producer globally, only behind Russia. The government and De Beers Group expressed optimism in the agreement, which reflects the aspirations of Botswana's people and underpins their joint venture through long-term investment.

Botswana and De Beers Agreement Over the course of the contract, ODC’s share will progressively rise from 30% to an impressive 50%. Debswana’s rights to rough diamonds were also a point of contention during negotiations, with Botswana’s president Mokgweetsi Masisi pushing for a larger share.

De Beers, however, argues that through taxes and royalties, the government already receives a substantial portion of the diamond mines’ profits. This new agreement also encompasses substantial long-term capital investments aimed at bolstering Debswana’s position as one of the world’s foremost diamond producers and Botswana’s largest private employer. An initial investment of approximately $75 million into the Pula Diamonds for Development Fund, with similar contributions projected to reach up to $750 million over the next decade, represents a substantial commitment to the growth and development of the diamond in-

dustry in Botswana. The agreement’s crowning achievement lies in its promise to generate tens of thousands of new jobs in Botswana, fostering growth in both the diamond industry and emerging sectors, with a strong emphasis on nurturing a knowledge-based economy. As De Beers and Botswana solidify their enduring partnership, the diamond industry can only anticipate a brighter, more prosperous future. This historic agreement not only secures the supply of precious gems but also lays the groundwork for economic growth and innovation in Botswana. The world watches with bated breath as this transformative partnership unfolds, bringing prosperity and opportunity to the heart of Africa.

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Strong quarter for Rio Tinto Rio Tinto has announced third-quarter 2023 production results for its global operations.Compared with the same period in 2022, iron ore production at the company’s Pilbara plant in Western Australia fell 1% to 83.5 million tons, but iron ore shipments increased 1% to 83.9 million tons.

io Tinto has announced third-quarter 2023 production results for its global operations. Compared with the same period in 2022, iron ore production at the company’s Pilbara plant in Western Australia fell 1% to 83.5 million tons, but iron ore shipments increased 1% to 83.9 million tons.

made great progress in building the Rio Tinto of the future, striking a balance between maintaining disciplined performance in changing market conditions, investing to generate valuable long-term growth and delivering attractive returns to shareholders.”

Rio Tinto expects Pilbara iron ore shipments to be between 320-335 million tons in 2023 and between 323-338 million tons in 2024. “Our Pilbara iron ore business has achieved another quarter of progress and maintains momentum,” Rio Tinto chief executive Jakob Stausholm said.

In the third quarter, the Pilbara shipped 83.9 million tonnes of iron ore, compared with 82.9 million tonnes in the same period last year.

Total bauxite production reached 13.9 million tonnes, an increase of 2% from the third quarter of 2022. Rio Tinto attributed the rebound to the stability of its operations, particularly at its Weipa mine in Queensland, where it said equipment reliability and performance had improved. Aluminum production was 800,000 tonnes, up 9% from the third quarter of 2022, as the company’s Kitimat smelter in British Columbia returned to full capacity. Mineralized copper production reached 169,000 tonnes, an increase of 5% from the third quarter of 2022. Rio Tinto said it benefited from continued improvements in copper grades at its high-grade Oyu Tolgoi underground mine in Mongolia and Escondida in Chile. Stausholm said: “We continue to make good progress in expanding our high-quality Oyu Tolgoi underground copper mine, our Kitimat aluminum smelter has returned to full production, and the Kennecott smelter and refinery is completing its historic milestone. After the largest rebuild, we have safely restarted.” “We have more work to do as we work to achieve sustainable performance improvements across the business. “We have

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“WE HAVE MADE GREAT PROGRESS IN building the Rio Tinto of the future, striking a balance between maintaining disciplined performance in changing market conditions, investing to generate valuable long-term growth and delivering attractive returns to shareholders.”

Rio Tinto cuts Iron production estimates Anglo-Australian mining giant Rio Tinto has lowered its iron ore production forecast due to operational disruptions.

nglo-Australian mining giant Rio Tinto has lowered its iron ore production forecast due to operational disruptions. The Iron Ore Corporation of Canada (IOC) unit forecast iron ore production of 9.3 to 9.8 million tonnes, down from its previous forecast of 10 to 11 million tonnes. “IOC’s operations were impacted by extended plant shutdowns and conveyor belt failures while we recovered from the wildfires that occurred in northern Quebec last quarter,” the company said in a statement. Concerns about iron ore production also appeared to be offset by success in other areas of the business. On Tuesday, Rio Tinto announced quarterly production increases across its copper and aluminum portfolio. Goldman Sachs analysts said that China’s copper demand will grow by 8% in 2023, driving the growth of Rio’s copper business. Kyle Rodda, senior market analyst at Capital.com, said: “The market is seeing signs of strength in (Rio Tinto’s) copper business, reinforcing investor confidence that strategic pivots are in place to accommodate the structural changes in the economy. Confidence in change.” is moving in the right direction. Rio Tinto is the world’s largest iron ore producer, with 70% of its profits coming from iron ore mining. The company’s third-quarter iron ore shipments rose 1.2% on higher output from its Gudai Darri mine in Western Australia’s Pilbara, despite forecast production declines.

Why you should watch this Coal Mining movie? In the annals of filmmaking, certain works emerge not merely as cinematic endeavors but as potent vehicles for societal introspection. “Blood On The Mountain,” directed by Mari-Lynn C. Evans and Jordan Freeman, firmly establishes itself within this venerated category.

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BLOOD ON THE MOUNTAIN IS A TIMELY AND RELEVANT movie about coal mining, as the debate over the future of coal mining in the United States continues. The film raises important questions about the cost of coal, both in terms of human health and environmental degradation. It also challenges viewers to think about the future of work and the need for a just transition to a clean energy economy.

hile the complexities of the coal industry may not be well-known outside of West Virginia, Blood on the Mountain examines the legacy of struggles by workers, their unions, and energy companies that put profits over worker safety and environmental concerns.

about the cost of coal, both in terms of human health and environmental degradation. It also challenges viewers to think about the future of work and the need for a just transition to a clean energy economy.

With unflinching determination, it ventures into the coal mines of Appalachia, casting an unerring light on the labyrinthine depths of human perseverance, corporate avarice, and environmental degradation.

“Blood On The Mountain” unfurls like a tragic ballad, one born from the dust and grime of coal-drenched hills. This documentary presents an unrelenting exposé of the coal mining industry’s tumultuous history, juxtaposed against the lives of those trapped in its relentless cycle. The plot of “Blood on the Mountain” is a heartbreaking history lesson about a land of opportunity where Americans made a living but killed them. The protagonist is a West Virginia coal mining community that was in a state of constant struggle, both in the early days of the industry as towns were built to serve newfound natural resources, and later when unions or non-unionist workers fought what they wanted. Taking your job away during protests.

Blood on the Mountain is one of the best coal mining movie based on a true story. The narrative of the movie is intended to teach Americans about the painful history of a land of opportunity, where Americans take up professions that lead to death. The primary character is the coal mining community of West Virginia, as they consistently struggled throughout the industry’s development, whether it was the beginning of the industry when cities were built to accommodate the natural resource, or later when they formed unions, or competing non-union workers who wanted to take their jobs with the middle of protests.

Critically acclaimed Blood on the Mountain is a critically acclaimed documentary film that has won numerous awards, including a nomination for the Grand Jury Prize at the 2016 Sundance Film Festival. It has also been praised by audiences and critics alike for its powerful storytelling and its unflinching look at the impact of the coal mining industry on Appalachia, making it one of the best coal mining movies ever. Blood on the Mountain is a timely and relevant movie about coal mining, as the debate over the future of coal mining in the United States continues. The film raises important questions

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Plot of the Movie

Of course, recurring themes in these chapters are the toxicity of coal, which destroys workers’ lungs, or the mountains of waste produced in the grips of dams known to fail (such as the 1972 Buffalo Creek flood, which killed 125 people )). Evans and Freeman’s documentary movie on coal mining details this chaotic, ongoing state of inhumanity, but touches audiences with riveting journalism with riveting clarity and a big heart.

Based on true stories The coal miners, their families, and experts become the unwitting actors in this real-life drama. Their candid, heart-rending testimonies add an invaluable authenticity to the documentary, enabling viewers to empathize deeply with their plights.“Blood on the Mountain” is most remarkable for its lack of personal contact with miners, other documentary movies would have

to find substitutes to follow. Its primary concern is the state of West Virginia, rather than specific cities or specific minerals. There are recurrent characters that return and forthwith, but they are often the villains, such as the CEO of Massey Energy, Don Blankenship, or various government officials who are depicted in video, all with the same appearance: smart, middle-aged, white, and male.

The cinematography of Blood on the Mountain is a symphony of visual contrasts. The filmmakers capture the ethereal beauty of Appalachia’s rolling hills and deep forests while juxtaposing them with the harsh, dystopian landscapes of mining sites. The inclusion of historical footage transports the audience to different eras, reinforcing the timelessness of the coal mining struggle. The film’s visual storytelling is a work of art in itself.

Ultimately, the companies that are harmful begin to sound identical, often with a failed assertion of pride in their title– Patriot, Freedom. While some individuals discuss the history of the mine, others share their personal, painful experience (“We don’t know the individuals that are saved, we know the individuals that are lost”).

The film’s musical score provides an emotional undercurrent that harmonizes seamlessly with its thematic resonance. It underscores the heartache and hope, the struggle and resilience, without ever overshadowing the voices of the people at the heart of the documentary. The music becomes a silent chorus, amplifying the emotions on screen.

However, the effect is similar to the conventional hall’s shots of men and women, all of whom wear camouflage-printed shirts that waver their signs of protest. You are unfamiliar with everyone personally, but with this documentation, you understand their personalities, and you sympathize with them, tremendously.

While this isn’t a traditional scripted film, the documentary excels in the realm of performance through its unscripted interviews and firsthand accounts. The coal miners, their families, and experts become the unwitting actors in a real-life drama. Their candid, heart-rending testimonies add an invaluable authenticity to the documentary, enabling viewers to empathize deeply with their plights.

Behind the Scenes Evans and Freeman’s direction is a masterful orchestration of content and context. The pacing is a testament to their acumen, as they maintain a riveting momentum throughout the film. The interviews are carefully curated to convey a collective narrative that is both sobering and illuminating.

Drawing on archival footage and interviews with experts, historians and many locals, this documentary chronicles the long and tumultuous history between West Virginians and the coal industry that ultimately drove the state’s citizens to the curb – But only after the mountain was flattened.

Other notable Movies about coal mining While “Blood On The Mountain” is undeniably powerful, its critique of the coal industry leans heavily towards one side of the argument. A more balanced exploration of the complexities and nuances within the industry would have added depth to the documentary and provided viewers with a broader perspective. There have been several other notable Movies and documentaries about coal mining that have explored the coal mining industry and its associated issues. Some of them include classics like “Matewan” (1987) directed by John Sayles and the documentary “Harlan County, USA” (1976) directed by Barbara Kopple, both of which are highly regarded for their portrayal of coal mining and the struggles of coal miners. Harlan County U.S.A. (1976), Some other notable coal mining movies include: The Coal Miner’s Daughter (1980), In My Father’s House (1992), October Sky (1999) and Black Lung (2016).

Reasons to Watch Blood on the Mountain While Blood on the Mountain is undeniably powerful, its critique of the coal industry leans heavily towards one side of the argument. A more balanced exploration of the complexities and nuances within the industry would have added depth to the documentary and provided viewers with a broader perspective. It is a clarion call to reevaluate our priorities and a poignant tribute to the resilience of those who have borne the brunt of industrial pursuits. Viewers will be left not just informed but deeply moved by this cinematic odyssey into the heart of a region and its tumultuous history.

Overall verdict Blood on the Mountain is a must-watch for anyone who cares about social justice, environmental protection, and the future of work. It is a powerful and moving documentary that will stay with you long after you watch it.

In summation, Blood on the Mountain is an exemplar of the documentary form, a profound and unflinching exploration of the coal mining industry’s impact on Appalachia and its people.

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As soon as it concluded, I wanted to re-watch it and did. The rewards are significant, the stories are intriguing, and the subjects are present as if they were completely untrained, with no added favors. A endeavor that many historical documentaries should aim for, “Blood on the Mountain” has a lot to consider, learn from and never forget

Eskom plans to delay closure of coal-fired power plants

skom Just Energy Transition managing director Vikesh Rajpaul has proposed delaying the closure of coal plants to allow the country some breathing space while new generation capacity comes online. Rajpaul said that this does not extend the useful lives of coal plants but wastes assets by continuing to operate them beyond their expected retirement. He emphasized that the timing of the transition to clean energy must be fair and equitable, sensitive to jobs and local economies. Discussions with donors are ongoing, and the final decision rests with the environment minister, who would have to allow special arrangements related to minimum emission standard (MES) requirements.

The continued operation of coal-fired power plants is subject to technical requirements, such as whether the initial maintenance of the power plant is sufficient to ensure safe operation. Eskom's maintenance program has been constrained for years by a lack of funding due to "tariffs that did not reflect costs." Rajpaul said that the difference between the fees Eskom receives and the increase in electricity prices means the utility is unable to carry out necessary regular maintenance. Eskom has been criticized for its handling of the Komati power station, which had a profound negative impact on the surrounding community. Rajpaul said the aim is to allow economic activity to continue at the shut-down power plants, requiring a socio-economic impact assessment and creating new economic opportunities at other power plants.

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South32 Manganese off to strong start but shipping backlogs loom SOUTH32 said manganese ore production from its South African mines had a strong start to the 2024 financial year, but the Perth-based company reported an increase in working capital, partly due to higher aluminum inventories. to delays to ships to and from South Africa, with many return ships delayed for more than three weeks,” he said. “These delays are caused by adverse weather conditions, low port productivity and equipment issues along our coast. Far East trade with South Africa has been most disrupted and the outlook for the coming weeks does not look any better,” he added. South32 said full-year manganese ore production guidance for its South African operations was 2 million tonnes. South32 reported raising $250 million in capital during the quarter after building aluminum inventories by $100 million. According to South32, inventories will return to normal in the current quarter with initial sales of the Brazilian business and the continued reduction of the group’s assets in southern Africa.

anganese ore production at the Northern Cape plant totaled 628,000 tonnes in the first quarter, up 12% from South32’s first quarter of FY23. Sales volume in the quarter totaled 528,000 tons, a year-on-year increase of 10%. South32 did not mention the South African rail logistics issues that had plagued the company during the previous reporting period, but said revenue fell 3% quarter-on-quarter. This is due to port congestion. South Africa has recently been hit by severe storms that paralyzed shipping. Businesslive quoted Denys Hobson, logistics director at banking group Investec, as saying the bad weather was exacerbating problems for state-owned ports and rail operator Transnet. “Shipping lines are struggling to balance capacity needs due

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Rising inventory levels caused net debt to increase to $782 million from $299 million at the end of the previous quarter. South32 paid a fully franked dividend of $145 million, matching the payout announced at the end of its 2023 financial year in June. South32 said in August it was looking to reduce emissions from its Hillside aluminum plant, which if not addressed would result in lower sales of the metal compared with so-called “green aluminum” produced elsewhere. South32 chief executive Graham Kerr said at the time that the company had signed an agreement with Eskom to explore purchasing nuclear energy from the utility’s Koeberg facility in the Western Cape. “In addition, South32 will continue to explore other low-carbon energy solutions such as wind and solar as well as battery storage,” Kerr said.

IMARC 2023

Australia poised to take global lead in critical minerals The scene is set for this year’s International Mining and Resources Conference (IMARC) in Sydney next week with the announcement by Australian Prime Minister Anthony Albanese to increase the investment in the Critical Minerals Fund.

n order to maintain Australia’s status as a global leader in vital minerals, the AU$4 billion plan intends to increase the nation’s production and processing of these minerals.

But unlike coal and iron ore, these vital minerals are also found in a lot of other places, so Australia’s historical competitive advantage is harder to maintain.

According to Mr. Albanese, Australia’s abundant reserves of vital minerals put it in a great position to support the worldwide transition to net-zero.

With its vast quantities of rare earth minerals, Australia has the potential to become a vital mineral powerhouse, and efforts are being made to realise this promise as the world rushes to secure these future resources.

“Australia is dedicated to establishing safe and secure vital mineral supply chains with the United States.” This is essential to achieving both economic growth and a future powered by renewable energy. Mr. Albanese stated, “The extension of the Critical Minerals Facility will support our shared goals in manufacturing, defense, and clean energy while also assisting in the development of supply chains with the United States. The path to net-zero, according to Australia’s Minister of Resources Madeleine King, passes through the country’s resource sector. “A cornerstone of support, the Critical Minerals Facility provides financing to strategically significant projects which can attract private investment,” Ms. King continued. “We are well-positioned to be a world-leading provider of critical minerals, including rare earth elements, and to support global efforts on clean energy transformation, especially when combined with our support for processing.” Graphite, cobalt, nickel, lithium, and other rare minerals are among the rich reserves of rare minerals found in Australia, which is lucky to have some of the world’s largest exploitable critical mineral deposits.

Crucial minerals are essential components of solar panels, batteries, medical equipment, and telecommunications technologies, and they are important to the worldwide clean energy economy. Fortunately, Australia is in a good position to provide the increasing need for minerals that are responsibly produced. In spite of Australia’s dominant position in the critical mineral market, there is still much catching up to do in order to satisfy the strains of global demand, according to Roland Hill of FYI Resources, a leader in producing high critical minerals for the electric vehicle and high-tech appliance industries. With some of the highest lithium production, Australia is presumably punching above its weight in terms of supply. But, Australia has been somewhat caught off guard in terms of being ready to deal with the shortage of vital mineral supply, much like the rest of the world. As with traditional resources, we have a long way to go before we can claim to be global leaders in key minerals, according to Mr. Hill.

A Clash of Promise & Peril in the American West Resolution Copper Project Resolution Copper mine could provide a quarter of the nation’s copper needs and double its tellurium reserves. Yet, every promise carries a price, and this one demands billions of gallons of water annually. A green flag for the project will lead to the extraction of billions of gallons of local groundwater and Colorado River stored water over the next 40 years.

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contentious drama unfolds in the vastness of the American West, where boundless horizons and rugged landscapes conceal untold riches buried deep beneath the earth. It is home to the Resolution Copper Project, a joint venture between Rio Tinto and BHP, set to become the largest underground copper mine in the country. While its potential economic benefits are substantial, the project’s water-intensive operations have raised significant concerns about their impact on the water-scarce West. An escalating clash of interests between the economic boom and environmental degradation looms here. Eventually, Oak Flat campground and some trails to Apache Leap will be exploited by the Resolution Copper mine, which will create a 1.8-mile-long pit of 1,000 feet. According to many, test drilling has already destroyed some trails to Apache Leap, which will result in the loss of the campground.

In this article, we will take a look at the complex web of factors surrounding the Resolution Copper Project, providing a comprehensive and current analysis.

The water dilemma As the wheels of the Biden administration turn, driving forward plans to unlock the treasure troves of critical minerals essential for the green energy revolution, concern reverberates across the land. Environmentalists and local communities stand as sentinels, their vigilant eyes fixed on the potential impact of mining on the region’s lifeblood: water. A quarter of the nation’s copper needs could be met by the Resolution Copper mine, and the country’s tellurium reserves

COPPER IS ONE OF THE 5 “C”S THAT Arizona is known for. According to estimates, the world will need the same amount of copper by 2050 as has been mined since copper was discovered. It is a significant amount of copper and Arizona has access to a lot of it.

could be doubled. Yet, every promise carries a price, and this one demands billions of gallons of water annually. Arizona’s water sources are already strained, with a delicate balance between supply and demand. The drought that began in 1994 has been going on for a long time in Arizona. Only nine or ten wet years have occurred in most watersheds since then. Several large reservoirs have been created on the Colorado River and the Salt River in the Western United States thanks to deep canyons on the topography. As long as the drought does not last too long, the reservoirs can provide water in dry years. To process copper, the Resolution Copper Project requires around 600 gallons of groundwater per minute. This water is drawn from the East Salt River Valley, further exacerbating water scarcity challenges. Resolution Mine is giving away this excavated aquifer water for free to nearby farmers to grow alfalfa so operations don’t flood – about 6 billion gallons so far. The mine will eventually use that water for processing the ore, using technology that recycles more water. Efforts like this have been made to recycle and conserve water, but questions linger about the long-term effects on aquifers, rivers, and ecosystems.

Block cave altering the natural flow Mining, especially at the scale of the Resolution Copper Project, can have profound environmental impacts because it takes place far below the water table – in geologic formations dating back billions of years. Excavating deep underground and triggering subsidence may disrupt the natural hydrology of the region, affecting groundwater levels and flow patterns in ways that are difficult to predict.Moreover, the mining method, known as “block cave mining,” raises concerns about subsidence and its impact on local aquifers. This will trigger a process called

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subsidence when the land sinks as the ore is taken out of the underground deposit. This will affect the aquifer, as water that would normally have flowed across that zone now spills into the hole, altering the natural flow of water.

Regulatory Challenges for the Resolution Copper Project In addition, locals are concerned about Resolution’s plans to store mine waste in a valley, and they worry about potentially releasing treated wastewater into Queen Creek, which was already polluted by copper mining in the past. The San Carlos Apache Tribe filed suit against Resolution, claiming treated waste would violate the Clean Water Act if released into the creek. For its operations, Resolution will also draw billions of gallons of water from the East Salt River Valley, on top of storing some water from the Colorado River. In the 2019 draft environmental impact statement for the mine, the U.S. Forest Service wrote, “Cumulatively, the total demand on the groundwater resources in the East Salt River valley is substantial and could be greater than the estimated amount of physically available groundwater.” But beneath it all, a dark undercurrent flows. Mines, shielded by the legal exemption, self-report their water use, leaving the state’s watchful eye at bay. Subsidence at Resolution Copper, its unmeasured consequence, may taint the quality of groundwater, a silent threat lurking in the depths. If Resolution Copper secures its environmental permits and embarks on full-scale operations, it will quench its thirst with billions of gallons of local groundwater and the stored waters of the Colorado River, for the next 40 years.

Is Resolution Copper Championing Green Mining? In the midst of this tumult, champions of green mining raise their banners high. They emphasize the necessity of domestic mineral development, an imperative to satiate clean energy technologies.Despite global shifts away from fossil fuels, the demand for minerals is outpacing supply, a dance of scarcity beyond imagination. The world will need 50% more copper than current supplies in order to meet projected demand by 2030, according to the Net Zero by 2050 scenario from the International Energy Agency.

Contaminated mine water pollution at a copper mine

ELSEWHERE, ARIZONA STATE officials, too, raised their voices of concern. Several proposed home construction projects in the Phoenix area have been rejected by state officials due to groundwater concerns. Mining companies, however, offer their defence. They point to the environmental toll exacted in other lands, where the price of progress may be steeper. Those in favor of the Resolution Copper Mine argue that developing resources like these in other countries, such as China, causes far greater environmental damage. In an interview, Resolution Copper president Vicky Peacey noted the mine benefited many local communities and provided material for the energy transition. “There is significant local support for the Resolution Copper project, which has been shaped by years of extensive consultation, and we continue to seek a two-way dialogue with all tribes,” Peacey said. “Three hundred current local employees, including Native Americans, and thousands of

future construction and operations jobs in rural Arizona depend on our project.” The project is expected to generate significant economic benefits for the region. The project’s advocates argue that it will be interpreted and implemented in an environmentally responsible manner. They also argue that it will benefit the economy more than it would be detrimental to the environment. Resolution Copper Mine could also help to reduce US dependence on imported critical minerals. Resolution Copper claims the project could provide up to 1,500 jobs in the region, with salaries above the national average. Tax revenue could also be generated for local communities by millions of dollars.

Resolution Copper’s road ahead Resolution Copper’s road ahead will depend on the permitting process outcome. If the project is approved, it will take several years to develop and produce. The road ahead for Resolution Copper is challenging, but the company is committed to developing the project in a sustainable and responsible manner. Resolution Copper has also stated that it is committed to working with the community to mitigate the potential impacts of the project.

Key milestones Resolution Copper must achieve in the coming months and years: Final Environmental Impact Statement (EIS): The US Forest Service is expected to release a final EIS for the Resolution Copper project in the coming months. The final EIS will assess the potential environmental impacts of the project and will be used by the US Forest Service to make a decision on whether to approve the project. The Final Environmental Impact Statement (EIS) for the Resolution Copper project was published in January 2021. In March 2021, the US Department of Agriculture (USDA) directed the US Forest Service to rescind the final EIS and reinitiate government-to-government consultation with Tribal Nations. It is unclear when the US Forest Service will release a revised final EIS for the Resolution Copper project. However, the company has stated that it is committed to working with the US Forest Service and Tribal Nations to address any concerns that have been raised. President and General Manager of Resolution Copper Vicky Peacey

Is Resolution Copper owned by Rio Tinto? Resolution Copper is owned by Rio Tinto and BHP. Resolution Copper is a joint venture company, with Rio Tinto owning 55% and BHP owning 45% of the project. Rio Tinto is a global mining and metals group, with headquarters in London, United Kingdom. BHP is a global resources company, with headquarters in Melbourne, Australia.

What is the Resolution Copper project? The Resolution Copper project is a proposed underground copper mine near Superior, Arizona, United States. The project is a joint venture between Rio Tinto and BHP. The Resolution Copper deposit is estimated to contain 1.7 billion metric tons of copper at an average grade of 1.5%. This would make it one of the largest copper deposits

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in the world. The proposed mine would be located under the now-inactive Magma Mine. The mine would be accessed by two shafts, each over 7,000 feet deep. The Resolution Copper project is expected to produce up to 25 percent of the United States’ annual copper demand. The mine would also create thousands of jobs and generate billions of dollars in economic benefits for the state of Arizona.

Who is the CEO of Resolution Copper? Resolution Copper does not have a CEO. The project is a joint venture between Rio Tinto and BHP, and each company has a representative who serves as the President or General Manager of the project. The current President and General Manager of Resolution Copper is Vicky Peacey. She has been in this role since 2022. Peacey is a mining engineer with over 30 years of experience in the industry. She has held

senior leadership positions at Rio Tinto and other mining companies around the world. Peacey is responsible for all aspects of planning, development, and operations related to the Resolution Copper project. She is also responsible for building and maintaining relationships with stakeholders, including government officials, community leaders, and Tribal Nations. Peacey is a strong advocate for diversity and inclusion in the mining industry. She is also committed to developing the Resolution Copper project in a sustainable and responsible manner.

How big is the Resolution Copper mine? The Resolution Copper mine is expected to be one of the largest copper mines in the world. The deposit is estimated to contain 1.7 billion metric tons of copper at an average grade of 1.5%. This would make it one of the largest copper deposits in the

Record of Decision (ROD)

Production

Once the final EIS is released, the US Forest Service will issue a ROD that states its decision on whether to approve the project. The ROD will also include mitigation measures that Resolution Copper must implement to reduce the environmental impacts of the project. The Record of Decision (ROD) for the Resolution Copper project has not yet been issued. The US Forest Service is currently conducting government-to-government consultation with Tribal Nations about the potential impacts of the project on tribally important and sacred resources. This consultation is ongoing, and the US Forest Service has not yet releas

Production at the Resolution Copper mine is expected to begin in the early to mid-2030s. Water-scarce regions like the American Southwest can look to places like Chile for a glimpse at a mining future in an increasingly arid landscape. South32’s Hermosa manganese and zinc project south of Tucson uses technology to reduce and reuse water, especially in the mine waste, and has built a state-of-the-art water treatment plant to ensure water discharges meet state standards.

Permitting

In this unfolding saga, the choices of today echo into the future. What is not our drinking water today may well be our life’s sustenance in five short years. It is a tale of promises, perils, and the relentless march of progress.

If the US Forest Service approves the Resolution Copper project, the company will need to obtain a number of additional permits from the state of Arizona and other federal agencies.

Development Once Resolution Copper has obtained all of the necessary permits, the company can begin developing the mine. This process is expected to take several years.

world, with the potential to produce up to 25 percent of the United States’ annual copper demand. The proposed mine would be located under the now-inactive Magma Mine. The mine would be accessed by two shafts, each over 7,000 feet deep. The mine would be approximately 1.5 miles wide and 2 miles long.

How big is the Resolution Copper deposit? The Resolution Copper deposit is estimated to contain 1.7 billion metric tons of copper at an average grade of 1.5%. This would make it one of the largest copper deposits in the world. To put this in perspective, the world consumed approximately 24 million metric tons of copper in 2022. The Resolution Copper deposit contains enough copper to supply the world’s annual consumption for over 70 years. The deposit is also very large in terms of its physical size. It is estimated to be approximately 1.5 miles wide and 2 miles long. The Resolution Copper deposit is a significant resource, and its development could have a major impact on the global copper market.

BULLI CREEK SOLAR PROJECT

Genex contracts with Fortescue for purchase of 337.5 MW Power Fortescue, a leading Australian Iron ore mining company, and Genex, a supplier of renewable energy, have recently established a 25-year agreement for the purchase of solar power.

ortescue, a leading Australian Iron ore mining company, and Genex, a supplier of renewable energy, have recently established a 25-year agreement for the purchase of solar power. This power purchase agreement (PPA) solidifies the partnership between the two companies and marks a significant step towards sustainable energy for Fortescue. Queensland’s Bulli Creek solar and battery project (BCP) has secured a Power Purchase Agreement (PPA) for the off-take of up to 337.5 megawatts of solar energy. This agreement marks a positive step towards achieving greater sustainability through the utilization of renewable energy sources. The PPA serves as a testament to BCP’s commitment to the environment and exemplifies the growing demand for alternative energy solutions in the region. According to Craig Francis, the CEO of Genex, this announcement is a significant achievement for both the company’s 2.25 gigawatt develop-

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ment portfolio and Australia’s transition towards renewable energy sources. This milestone marks a crucial step forward in the country’s efforts to shift towards greener and more sustainable resources. Genex, in collaboration with Electric Power Development (J-Power), and Solar Choice as a co-developer, is currently working on the development of the BCP. This project is expected to revolutionize the way we generate and distribute power. First stage of solar development at BCP has a minimum capacity of 450 megawatts. As per an agreement between Genex and J-POWER with Fortescue, the commencement of the first stage of solar development at BCP has been confirmed with a minimum capacity of 450 megawatts. The Power Purchase Agreement (PPA) further ensures that a significant 75% of the revenue stream is contracted.

In a recent announcement, Fortescue revealed plans to make use of the solar energy obtained through its Power Purchase Agreement (PPA). The energy will be utilized to power a stateof-the-art green hydrogen and green ammonia facility that will be developed in conjunction with the Gibson Island project located within the United States. According to a recent statement by Genex, negotiations regarding additional solar offtake are currently underway with multiple parties. These discussions are aimed at expanding the initial capacity to a whopping 775 megawatts, which would make it the biggest grid-connected solar farm in all of Australia. Francis expressed enthusiasm in partnering with Fortescue and lending their support to the establishment of a sizable electrolysis facility in Gibson Island. The project is expected to be an integral step towards a thriving and lucrative green hydrogen and ammonia sector in Australia.

Fortescue has recently revealed that it has become the primary investor in Electric Hydrogen’s (EH2) series C funding round worth a staggering US$380 million ($603.4 million). EH2 has successfully developed a groundbreaking technology that produces green hydrogen on a large scale. Their complete electrolyser systems, boasting an impressive 100-megawatt capacity, utilize renewable electricity and water to create this eco-friendly alternative to traditional hydrogen. According to Fortescue Energy’s CEO Mark Hutchinson, the company is dedicated to aiding the swift expansion of eco-friendly technology in order to assist heavy industry in reducing carbon emissions. Mr. Hutchinson stated that the production of green hydrogen on a large scale is a vital part of this effort.

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Cobalt Prices Driven by Sentiment; What Is the Actual Demand? Cobalt is a relatively illiquid market. This means that there is not a lot of trading volume in cobalt, which makes it more susceptible to price swings based on sentiment. As LME Week approaches, there is speculation on how long the current market rally will last, particularly in light of the upcoming negotiations for long-term cobalt metal, hydroxide, and sulfate supply agreements.

he cobalt market has been experiencing a significant amount of volatility leading up to the fourth quarter. Investors and traders are keeping a close eye on the market, as it has been showing signs of instability in recent weeks.

Global demand for cobalt is projected to increase

Cobalt prices have fallen sharply in recent weeks, reaching a two-year low on September 29, thanks to a number of factors, including a slowdown in demand from the electric vehicle (EV) industry and concerns about a potential recession.

The global demand for cobalt is projected to increase from an estimated 233,000 tonnes in 2023 to 260,000 tonnes in 2024. This upward trend suggests a positive future for the metal, despite lingering doubts about its sustainability.

Some analysts believe that the cobalt market is now in a surplus and that prices could continue to fall in the near term. Others believe that the current downturn is temporary and that prices will rebound as EV demand picks up again. The outcome of the COP27 climate summit in November could also have a significant impact on the cobalt market. If the summit results in a more substantial commitment to renewable energy and electric vehicles, it could boost demand for cobalt and lead to higher prices. Discussions revolving around the increasingly optimistic outlook on the cobalt market and the accompa-

Skillings.net | November 2023

Chinese cobalt producers are looking for new ways to increase their metal production. One approach they’ve been exploring is to modify their existing production lines to prioritize metal production over sulfate production. According to one consumer, this shift is relatively easy to accomplish. As a result, many industry insiders are anticipating a significant increase in the supply of metal materials both domestically in China and on the international market. When it comes to converting to metal, there are many factors to take into account. It’s not just about the worth of the metal itself, but also the future implications of the shift. According to a cobalt trader, the current supply situation has put buyers in a position of power. As such, they hold the reins when it comes to making decisions about the direction of the market. There is hope that the momentum towards a more positive outlook for cobalt will continue to grow following the conclusion of meetings.

portation of goods and services. Adding to this is the increased security measures which could make it more difficult and expensive to move goods and people. It is very likely that before the elections, a considerable amount of material will be exported from the country in order to prepare for the possibility of unfavorable results or any disruptions that may occur.

Cobalt sulfate market declines, metal market rises

nying uncertainties are anticipated to dominate conversations during LME Week.

CMOC’s Hydroxide Shipments to Arrive As the market continues to fluctuate, a key factor to keep an eye on is the impending arrival of hydroxide shipments from China Molybdenum Co (CMOC). The load comes after the company struck a deal earlier this year with Gécamines, the state-owned mining company of the Democratic Republic of Congo (DRC). The industry eagerly awaits the impact of this agreement on the market, as all eyes remain fixed on the future of the global economy. Following an export ban on certain materials, CMOC found themselves in a predicament as they were allowed to produce materials, which led to an excess stockpile of cobalt and copper. However, recent reports suggest that the export ban has been lifted. Sources now reveal that both the stockpile and newly produced materials from the Tenke Fungurume mine are making their way to China.

The arrival of CMOC’s hydroxide shipments is expected to have a significant impact on the cobalt market. The company is one of the world’s largest producers of cobalt, and its shipments could help to boost supply and lower prices. However, the impact of the shipments will depend on a number of factors, including the timing of the shipments and the state of the cobalt market at the time.

DRC Election: Logistics and Supply Chain Implications As the Democratic Republic of Congo prepares for its presidential elections, market participants are keeping a watchful eye on the potential impact it may have on logistics within the country. Some have speculated that the upcoming election could have a ripple effect on the market, leading to a shift in supply chain dynamics and potentially affecting the flow of goods and services. Despite the uncertainty surrounding the election, businesses are bracing themselves for any potential disruptions to their operations and logistics. With elections taking place in December, many anticipate that roadblocks and demonstrations could disrupt the trans-

The cobalt sulfate market, a key component of the intermediate complex, has experienced a decline in strength due to poor demand and a week-long public holiday in China from September 29 to October 7. This has led to a significant decline in liquidity in the cobalt intermediates market. Factors contributing to this decline include decreased demand from the consumer electronics industry in China and forecasts of increased availability of cobalt hydroxide in the fourth quarter of this year.Weaker demand for EVs in China impact cobalt prices China's EV market is experiencing a shift in battery demand due to the increasing adoption of electric vehicles and portable electronics. Manufacturers are exploring new battery technologies to meet this demand. However, some players are reducing their long-term outlook for cobalt due to a sluggish consumer electronics market and a shift towards battery chemistries that don't use cobalt.

Hydroxide market heavily influenced by the sulfate market The hydroxide market is significantly influenced by the sulfate market, as it plays a crucial role in the production of cobalt metal and cobalt sulfate. Despite the instability in the sulfate market, buyers remain uninterested in sulfate material, despite low inventories.

Three technologies critical for green steel Steel is one of the world’s most vital engineering and construction materials for buildings, cars, trains, machinery, and more.

nnual steel demand has tripled over the past 50 years and is expected to reach ~1.8 Megatonnes (Mt) in 2023. However, iron ore mining and steel production processes generate high industrial carbon emissions. For example 70% of global steel operations burn coal to feed blast furnaces, and steel plants emit up to 2.4 tons of CO2 for each ton of steel they produce. Also, the steel industry alone is responsible for 9% of global emissions. For these reasons, the industry faces pressure to decarbonize steel manufacturing processes. For example, steel consumers, like the automobile industry, have set aggressive Scope 3 emission targets (carbon emissions not produced by the company but associated with their supply/value chain). Therefore, to remain competitive and drive profitability, steel plants must respond to customers’ expectations to produce “green steel,” a low-emissions version of the traditional steel product.

Technological breakthroughs now allow green steel to be a reality Fortunately, technological innovations make it possible for the industry to accelerate the pace of steel decarbonization. Electrification of the steel industry, including the migration to Electric Arc Furnaces (EAF) and Direct Reduced Iron (DRI) processes, reduces CO2 emissions, enabling a transition to electricity and hydrogen. Plants that produce green steel, for which clients are now willing to pay a premium, use hydrogen in the DRI processes, Electric Arc Furnaces to melt steel, and power their operations using renewable energies. Steel companies in Western Europe are investing billions in enabling their plants to produce green steel. As steel companies worldwide upgrade their facilities, the “process OEMs” (pOEMs) design these facilities, the technology manufacturers who equip them, and their end users play a critical role in providing low-carbon solutions.

Skillings.net | November 2023

For example, Tenova, a worldwide partner for sustainable, innovative, and reliable solutions in the metals and the mining industries that works closely with Schneider Electric™ is leading the way in designing Direct Reduction systems fueled with hydrogen that can accommodate mixed fuel feeder stocks, perform carbon capture, and produce high-grade iron pellets feeding downstream electrical furnaces. Their technology enables more from 50% to 90% reduction in CO2 emissions compared to traditional approaches.

Electrification and digitization of operations lower steel carbon emissions With new-generation steel plants running mainly on electricity, either through electric furnaces or using electricity for hydrogen manufacturing, electrical energy now represents 30-40% of production costs. Therefore, to reduce OpEx, corporate stakeholders must ensure the efficient use of elec-

tricity and alternative sourcing within their plants. Wide and unified domains of expertise, including power and steel process, coupled with technology, exist today to enable electrification and digitization that can improve sustainability. Below are three ways process control technologies can contribute to green steel production:

Digital twin – Cloud-based virtual models of a plant allow engineers to test control logic through detailed graphics in a virtual process analysis scenario. Digital twins help minimize potential design errors and streamline machine build processes to lower energy consumption and CO2 emissions. AVEVA and ETAP offer digital twin software solutions for plant mechanical design, automation, and electrical systems. This allows engineers to pinpoint where efficiency gains can be made and how downtime can be avoided. Such tools also help provide maintenance teams with more efficient training and troubleshooting options.In addition, predictive maintenance models leveraging advanced analytics and machine learning can help improve plant resilience by flagging potential problems before they result in unanticipated downtime. They also provide recommendations on problem resolution.

operators, managers, and executives to see how their production and energy decisions can significantly improve profitability.The predictive simulation capability is unlocked by connecting ETAP Digital Twin to field real-time data such as meter measurements or switch status. Operation and maintenance teams have a great asset available to better plan and bring peace of mind to their daily activities. This allows them to test and secure any network sequences of operations before implementing them on the field, thus avoiding unexpected plant downtime.

Power and process convergence Converged power and process architectures can use big data analytical engines to improve process performance and lower energy consumption through rapid and more accurate decision-making. Mathematical models predict the optimum mix of electricity, hydrogen, or alternative fuel usage to minimize production costs.

Microgrids – As renewable energy emerges as a core contributor to green steel production, optimizing and managing energy use across various conditions and power sources becomes critical. Cloud-based microgrid management solutions provide a Human Machine Interface (HMI) for site managers, process the various demand/response requests, optimize output decisions based on energy time of use (TOU) tariff rates and weather forecast predictions, and factor in user consumption constraints.With intuitive user interfaces, operators who use tools like EcoStruxure Microgrid Advisor are not required to be technically astute energy experts. The ability to tightly control energy use helps decrease energy bills, minimize CO2 footprint, and provide operational flexibility.

This model-based approach enables plant-wide optimization of energy and automation systems that is not achievable through more conventional control methods. Operational visibility is also enhanced through dashboards and charts highlighting data from the equipment asset level up to the process unit, plant area, plant site, and enterprise levels. This enables

Centamin aims to over 500k ounces production in new Sukari mine Egypt-focused Centamin has unveiled a new, more ambitious mining plan for its Sukari gold mine. The Sukari Gold Mine is currently the largest and first modern gold mine in Egypt and one of the largest producing gold mines in the world. Since production began in 2009, more than 5 million ounces have been produced. gold, with a current expected mine life of 14 years. The company also announced a connection to Egypt’s electricity grid, which is expected to result in annual cost savings of $41 million based on current diesel prices. The company will report third-quarter results next Thursday, October 19, 2023. Centamin said it backed its full-year cost forecast and lowered its production target after lower-than-expected output in the third quarter, while improving the long-term outlook for Egypt’s Sukari gold mine. The gold miner said on Thursday it expected annual production from the Sukari mine to average 506,000 ounces between 2024-2032 and 475,000 ounces over the life of the mine from 2024-2034.

Sukari has a lifespan (i.e. the time it takes for the ore reserves to be extracted from the mine) until 2034. At the same time, Centamin expects average all-in sustaining costs (AISC) for the mine to be $922 per ounce of gold, below the $1,000 target threshold and placing Sukari in the lower half of the global cost curve. AISC decreased by 34% compared to 2022.

gypt-focused Centamin (LON: CEY) (TSX: CEE) has unveiled a new, more ambitious mining plan for its Sukari gold mine. According to the company, the new mine is planned to increase production to an average of 506,000 ounces per year over the next nine years and will have all-in sustaining costs of less than $1,000 per ounce, helping to increase the mine’s total gold production by 5%. of total gold production. 11 years of running life. Gold production guidance for 2023 remains in the range of 450,000 to 480,000 ounces, targeting the lower end of the range.

Skillings.net | November 2023

THE SUKARI GOLD MINE IS CURRENTLY the largest and first modern gold mine in Egypt and one of the largest producing gold mines in the world. Since production began in 2009, more than 5 million ounces have been produced. gold, with a current expected mine life of 14 years.

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SKILLINGS MINING REVIEW STASTISTICS

SEPTEMBER 2023 CRUDE STEEL PRODUCTION orld crude steel production for the 63 countries reporting to the World Steel Association (worldsteel) was 149.3 million tonnes (Mt) in September 2023, a 1.5% decrease compared to September 2022.

Crude steel production by region Africa produced 1.3 Mt in September 2023, down 4.1% on September 2022. Asia and Oceania produced 110.7 Mt, down 2.1%. The EU (27) produced 10.6 Mt, down 1.1%. Europe, Other produced 3.5 Mt, up 2.7%. The Middle East produced 3.6 Mt, down 8.2%. North America produced 9.0 Mt, down 0.3%. Russia & other CIS + Ukraine produced 7.3 Mt, up 10.7%. South America produced 3.4 Mt, down 3.7%. The 63 countries included in this table accounted for approximately 97% of total world crude steel production in 2022. Regions and countries covered by the table: Africa, Asia and Oceania, European

Union (27), Europe, Middle East, North America, Russia & other CIS + Ukraine, South America.

Top 10 steel-producing countries China produced 82.1 Mt in September 2023, down 5.6% on September 2022. India produced 11.6 Mt, up 18.2%. Japan

Table 1. Crude steel production by region

Table 2. Top 10 steel-producing countries

sep % change jan-sep % change jan-sep 2023(mt) sep 23/22 2023 (mt) 23/22

Africa Asia and Oceania

sep 2023 (mt)

% change sep 23/22

jan-sep 23 (mt)

% change jan-sep 23/22 1.7

1.3

-4.1

11.9

6.6

China

82.1

-5.6

795.1

110.7

-2.1

1,055.7

1.6

India

11.6

18.2

104.1

11.6

Japan

7.0

-1.7

65.4

-3.6

EU (27)

10.6

-1.1

96.2

-9.1

Europe, Other

3.5

2.7

30.7

-9.3

Middle East

3.6

-8.2

32.6

-0.6

North America

9.0

-0.3

82.2

-3.3

Russia & CIS+ Ukraine*

7.3

10.7

66.3

2.0

South America

3.4

-3.7

30.9

-6.2

Türkiye

149.3

-1.5

1,406.4

0.1

Italy

Total 63 countries

produced 7.0 Mt, down 1.7%. The United States produced 6.7 Mt, up 2.6%. Russia is estimated to have produced 6.2 Mt, up 9.8%. South Korea produced 5.5 Mt, up 18.2%. Germany produced 2.9 Mt, up 2.1%. Türkiye produced 2.9 Mt, up 8.4%. Brazil is estimated to have produced 2.6 Mt, down 5.6%. Iran produced 2.4 Mt, down 12.7%..

United States

6.7

2.6

60.6

-1.4

6.2 e

9.8

57.1

4.8

South Korea

5.5

18.2

50.4

-0.4

Germany

2.9

2.1

27.2

-3.6

Brazil

2.9

8.4

24.5

-10.1

2.6

-5.6

24.0

-8.0

2.4

-12.7

22.1

-0.6

Russia

The 63 countries included in this table accounted for approximately 97% of total world crude steel production in 2022. Regions and countries covered by the table:Africa: Egypt, Libya, South Africa, Tunisia Asia and Oceania: Australia, China, India, Japan, Mongolia, New Zealand, Pakistan, South Korea, Taiwan (China), Thailand, Viet Nam,European Union (27),Europe, Other: Macedonia, Norway, Serbia, Türkiye, United Kingdom,Middle East: Iran, Qatar, Saudi Arabia, United Arab Emirates,North America: Canada, Cuba, El Salvador, Guatemala, Mexico, United States,Russia & other CIS + Ukraine: Belarus, Kazakhstan, Russia, Ukraine,South America: Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela

Skillings.net | November 2023

2022 GLOBAL CRUDE STEEL PRODUCTION TOTALS TOTAL WORLD CRUDE STEEL PRODUCTION WAS 1,878.5 MT IN 2022, A 4.2% DECREASE COMPARED TO 2021.

Source – World Steel Association Rank Country

2022

2021

% 2022/ 2021

Rank Country

2022

2021

% 2022/ 2021

China

1 013.0

1 034.7

-2.1

Poland (e)

7.7

8.5

-8.6

India

124.7

118.2

5.5

Austria

7.5

7.9

-4.7

Japan

89.2

96.3

-7.4

Belgium (e)

6.9

0.4

United States

80.7

85.8

-5.9

Ukraine

6.3

21.4

-70.7

Russia (e)

71.5

77.0

-7.2

Netherlands

6.1

6.6

-7.2

South Korea

65.9

70.4

-6.5

United Kingdom

6.1

7.2

-15.6

Germany

36.8

40.2

-8.4

Pakistan (e)

6.0

5.4

10.9

Turkey

35.1

40.4

-12.9

Australia

5.7

5.8

-1.9

Brazil

34.0

36.1

-5.8

Thailand

5.3

5.5

-2.9

Iran

30.6

28.3

8.0

Bangladesh (e)

5.2

5.5

-5.5

Italy

21.6

24.4

-11.6

Argentina

5.1

4.9

4.5

Taiwan, China (e)

20.6

23.2

-11.2

Sweden

4.4

4.7

-5.9

Viet Nam (e)

20.0

23.0

-13.1

South Africa

4.4

5.0

-12.3

Mexico

18.2

18.5

-1.6

Czechia

4.3

4.8

-11.0

Indonesia (e)

15.6

14.8

5.2

Kazakhstan

4.1

4.5

-8.0

France

12.1

13.9

-13.1

Slovakia

3.9

4.9

-20.4

Canada (e)

12.0

13.0

-7.8

Finland

3.5

4.3

-18.5

Spain

11.5

14.2

-19.2

Algeria (e)

3.5

0.2

Malaysia (e)

10.0

9.1

10.0

United Arab Emirates

3.2

3.0

7.1

Egypt

9.8

10.3

-4.6

Others

37.2

39.5

-5.7

Saudi Arabia

9.1

8.7

3.9

World

1 878.5

1 960.4

- 4.2

e – annual figure estimated using partial data or non-worldsteel resources. * The world total production figure in this table includes estimates of other countries that only report annually.

worldsteel Short Range Outlook October 2023

he World Steel Association (worldsteel) today released an update of the Short Range Outlook (SRO) for 2023 and 2024. worldsteel forecasts that steel demand will grow by 1.8% in 2023 and reach 1,814.5 Mt after contracting by 3.3% in 2022. In 2024, steel demand will see a further increase of 1.9% to 1,849.1 Mt. Commenting on the outlook, Mr. Máximo

Vedoya, Chairman of the worldsteel Economics Committee, said, “steel demand has been feeling the impact of the high inflation and interest rate environment. Since the second half of 2022, the activities of steel using sectors have been cooling sharply both for most sectors and regions as both investment and consumption weakened. The situation continued into 2023, particularly

affecting the EU and the US. Considering the delayed effect of the tightening monetary policy, we expect steel demand recovery in 2024 to be slow in the advanced economies. Emerging economies are expected to grow faster than developed economies, but the performance of emerging economies continues to diverge, with emerging Asia maintaining resilience.

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Three technologies critical for green steel

Other notable Movies about coal mining