Skillings Mining Review January 2022

2022 JANUARY IN REVIEW

111/01

08

WHY WOMEN ARE QUITTING THE INDUSTRY? Why Women are Quitting the Mining Industry and what mining companies can do about it

34

Advantages of Growing Renewables on Contaminated Lands

28

Interview with Heng Huang, Financer, HOT Mining Tech Co.

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THE LEAD

08 Why Women are Quitting the Mining Industry and what mining companies can do about it

MINING FINANCE

27 Fireweed Zinc is now listed on the OTCQB under the symbol "FWEDF" in the United States

PROFILES IN MINING

28 Interview with Heng Huang, Financer, HOT Mining Tech Co., Ltd, Beijing.

STATISTICS

46 November 2021 crude

26 ‘Mining diplomacy’ is critical for the future of energy

steel production

47 crude steel production December 2020

SURFACE MINING

20 How can we ensure that technology is adopted in the mining industry?

22 In 2031, the global smart mining market is expected to reach US$55.15 billion

25 In a bid to boost iron-ore rebound, Vale has lowered its production guidance

UNDERGROUND MINING

05 Hanstone Gold appoints a Director, Chief Financial Officer, and Executive Chairman

06 At Its Spanish Mountain West Project, West Mining Identifies Several Geochemical Anomalies. Bc

24 Critical Minerals Could Be A Threat To America's Security.

Mineworkers, on the other hand, are in short supply

SPECIAL FOCUS

34 Times Of Economic Complexity, Going for Gold: An Idea

36 Advantages of Growing Renewables on Contaminated Lands

43 Miners Alert: Global Push For Green Steel In Way Of $150 Billion In Iron Ore For Australia: Adapt Says Analysts

www.skillings.net | 3

JANUARY 2022 VOL.111. NO.01

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Hanstone Gold appoints a Director, Chief Financial Officer, and Executive Chairman

G

ary Billingsley has been made the independent director of Hanstone Gold Corp., effective November 24, 2021, as per a press release given by the Company in November 2021. Mr. Billingsley has held various executive positions in extensive financial services and manufacturing companies, including CEO, COO, CFO, SVP Corporate Planning, VP Marketing, and VP Product Development.

He has functioned for both private and public firms and created and grew his own companies. He is well-versed in the mining industry, having grown up in a mining family and functioned on the

Gary Billingsley

boards of many publicly traded junior mining companies. Mr. Billingsley is currently the President of Desert Strike Resources (US) Inc. Ms. Jennifer L. Boyle,

BA, LL.B., has been appointed as the Company's new Chief Financial Officer.

Dong Shim, who will continue to serve as Corporate Secretary and Controller, will be replaced by Jennifer. Jennifer has over twenty-five years of experience as a top executive in the mining and financial services industries (Founder/Director/ CEO/CFO/Executive VP). She is currently a member of the TSX Venture Exchange's National Advisory Committee and a member of the Local Ontario Advisory Committee (Toronto branch). Mr. Andre Douchane has been named Executive Chairman of the Board of Directors, according to the Corporation. Mr. Douchane is the Chief Executive Officer of BBX Minerals Ltd.

www.skillings.net | 5

UNDERGROUND MINING

At Its Spanish Mountain West Project, West Mining Identifies Several Geochemical Anomalies. Bc COAST MOUNTAIN GEOLOGICAL Ltd. (CMG) is an industry leading full-service mineral exploration consulting firm based in Vancouver, BC, that has been actively developing and advancing clients’ projects varying from grassroots to mine development.

WEST MINING CORP. is a mineral exploration company acquiring and developing advanced and prospective early-stage exploration projects. It is focused on its 100% owned, 9000 hectare Kena Project located near Nelson, British Columbia. The Kena Project comprises three adjoining Properties: Kena, Daylight and he program identified Athabasca. multi-element and

West Mining Corp. is happy to announce that it has received analytical findings and a summary report for exploratory work done at the Company's 100 percent owned Spanish Mountain West gold property in southern-central British Columbia from Coast Mountain Geological Ltd. (CMG).

T

West Property, located in the Quesnel Terrain. Finely scattered gold linked with pyrite in argillites and polymetallic-gold veins housed in Nicola volcanic phases describe mineralization in the Spanish Mountain deposit.

The Nicola Group volcanic and sedimentary rock package underpins the 1062 hectare Spanish Mountain

The CMG program identified arsenic, mercury, and bismuth as shallow, low-grade pathfinder elements. More crucially, base metals such as lead, zinc, copper, and arsenic and silver were found in soils around the site, all of which

multi-station soil anomalies of essential pathfinder elements linked to gold mineralization in the nearby Spanish Mountain deposit.

6 | SKILLINGS MINING REVIEW January 2022

are known markers of gold in the area.

"The Company is very happy with the field programme and outcomes of CMG's work on the project." "We will build on these encouraging discoveries in the future with additional geophysics and trenching," said Nicholas Houghton, President, and CEO of West Mining. Nine hundred eighty soil samples were taken from three different grid areas: Oscar North, Spanish Lake, and Spanish Southwest.

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LEAD

Women are underrepresented in mining companies at all levels. However, there are still chances for the industry to improve female recruitment, retention, and progression.

8 | SKILLINGS MINING REVIEW January 2022

Why Women are Quitting the Mining Industry and what mining companies

can do about it

www.skillings.net | 9

LEAD

In addition to poor labor force participation, the drop-off for females in mining from entry

level to executive is one of the steepest we've seen in any of the industries we looked at. When it comes to senior leadership roles, mining is a laggard among laggards, with only 13% of female executives in mining company C-suites. There are just 30 female CEOs among the S&P 500 businesses, and none of them are from the mining industry.

none from the mining industry.

there are just 30 female ceo's among the s&p 500 businesses

%

13 only

of female executives in mining company c-suites.

30/ 500 Women make up between 8% to 17% of the global mining workforce.

10 | SKILLINGS MINING REVIEW January 2022

What is the significance of this?

Aside from the underlying objectives of equality and equity, study after study has proved the financial and operational benefits of diversity. Diverse teams were shown to be more productive (11 percent greater adherence to production schedule) and to implement safer practices in one data set (67 percent lower total recordable injury frequency).

Mining companies will require both if they are to successfully meet the broadening challenges obstructing the industry today, from digital and analytics disrup-

The importance of attracting and utilizing the skills of a diverse labor pool is evident, and mining businesses should recruit more women and invest in their success. tion to sustainability and decarbonization.

The importance of attracting and utilizing the skills of a diverse labor pool is evident, and mining businesses should recruit more women and invest in their success.

Investors want companies that help them accomplish environmental, social, and

governance (ESG) goals, which include diversity within the company and in the broader society, to add to the value proposition. Over here, we set out to learn about women's experiences in the mining industry and to synthesize insights and recommendations to assist mining companies win through talent.

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LEAD

Our Target and Structure Two key queries were established in this regard. First is, why there is so little female representation in the mining industry? And second, what can mining corporations do to combat this?

To answer these concerns, a global poll was conducted that drew over 1,000 responses from mining industry employees in 52 countries across six continents.

Men and women, from entry-level employees to C-suite executives, were among the respondents.

An inquiry was made about respondents' professional mining experiences and how they attracted and retained them in the business. In-depth interviews were also conducted with female mining executives in Australia, Brazil, Canada, and the United States to better understand the issues at hand and possible solutions.

Our Discovery Female representation in mining was looked across three dimensions that are important for women's advancement in the industry: initial recruiting, medium-term retention, and women's elevation up the corporate ladder.

1. Attracting women to the mining industry The nature and variety of labor available, the opportunity for professional growth and progress, and the competitive remuneration are all factors that drive women to the mining industry. These three criteria are consistent across locations, with salary being the most important element for attracting people into the business in emerging regions (Latin America and Sub-Saharan Africa).

As a result, it's remarkable that mining has one of the greatest median genders pay discrepancies of any industry—an estimated 25% in the UK alone.

In terms of tenure, women with less tenure (less than five years' experience) rate growth opportunities higher than women with more tenure.

While not the most attractive industry for women, the mining sector (together with utilities and energy) appears to attract them, with women filling roughly 40% of entry-level positions. So, where do they go when they leave mining?

12 | SKILLINGS MINING REVIEW January 2022

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LEAD

Women are underrepresented in the mining sector compared with other industries.

WOMEN IN INDUSTRY BY LEVEL, % OF EMPLOYEES (n=>40,000)

2. Retaining women in the mining industry

Women appear to be leaving mining because of company culture and a lack of diversity beyond the entry level. "It takes a lot of effort to be the 'diverse one' at the table," one senior woman observed. As the women we surveyed put it, decreased their motivation and sense of belonging.

Women are leaving—or wishing to leave—the industry because the attributes that once drew them there are no longer present.

The main reasons for leaving the sector include a belief that work is no longer intellectually stimulating and that career chances are limited compared to their male counterparts. Women are marginalized in mining, according to interviews with senior women in the industry.

This is especially true in technical professions. There is a notion that men are given more opportunity for operational experience and frontline mentorship, whereas women are expected to have gained

frontline experience "elsewhere" in order to qualify for higher technical and leadership positions. Women who return to school to continue their education believe that their academic abilities are misused

14 | SKILLINGS MINING REVIEW January 2022

and devalued, diminishing the value of their further education investment.

When it comes to obtaining advanced technical and leadership responsibili-

ties, there is also a belief that operational experience is valued higher than advanced qualifications, although women in the same organizations strive to gain the same "stepping stone" operational roles as men. Women appear to be leaving mining because of company culture and a lack of diversity beyond the entry level. "It takes a lot of effort to be the 'diverse one' at the table," one senior woman observed.

women as it is for males (44% vs. 23%).

Leadership role modelling, prejudices (including gender bias and unconscious bias), company rules, and contractors all have an impact on the sector's culture.

Respondents who thought their workplace culture didn't encourage diversity were twice as likely to want to quit as those who thought it did.

According to a poll, women are more hesitant to leave or plan to leave the profession before reaching middle management, but resignations are more common among technical and senior manager jobs, as well as consultants.

As the women we surveyed put it, decreased their motivation and sense of belonging. Adapting to the mining industry's culture is twice as difficult for

Worryingly, according to recent data from the Wall Street Journal, only two out of seven of the world's largest mining businesses have achieved significant gains in

These findings reveal an important fact: early support for women's careers can be crucial to improving diversity in the industry.

female participation. There is still work to be done. At what point in the pipeline are mining firms most likely to lose women?

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LEAD

3. Encouraging women in mining into more senior roles Women are underrepresented in the mining industry. The lack of female representation in senior executive positions demonstrates this. More than 44% of female respondents believed they were not offered equal promotion prospects, and 20% of women across all tenures claimed they were not given the necessary opportunity for advancement.

In addition, women believe they are held to greater requirements for promotion, particularly in technical, operational, and executive positions, according to our interviews.

Variety tops the list of reasons why women join the mining industry.

Sponsorship is critical for the promotion of talent, particularly varied talent, according to research. Sponsors pledge to provide opportunities for their coworkers.

In a climate where women believe they are overlooked for such opportunities, feel like cultural outsiders, and believe promotion decisions are opaque, maximizing the benefits of sponsorship is critical.

REASONS FOR BEING ATTRACTED TO THE MINING INDUSTRY, % OF RESPONDENTS (n=549)

Surprisingly, over 45 percent of female respondents said they had received inconsistent to no sponsorship. The disparity was notably noticeable in entrylevel and high management positions.

Women seeking to leave the mining industry have the fewest sponsors of any category.

Women seeking to leave the mining industry have the fewest sponsors of any category. Surprisingly, over 45 percent of female respondents said they had received inconsistent to no sponsorship.

As a result, the hypothesis that emerges is that cohorts who do not receive adequate assistance are the most vulnerable to attrition.

Many mining corporations have established formal sponsorship schemes.

Women, on the other hand, saw them as ineffective, with sponsors failing to provide them with chances. Sponsorship programmers are frequently viewed as a "paper exercise" in which the sponsor's

and more junior colleague's expectations are not clearly defined. Few businesses follow up with sponsors and "sponsored" to see what's working and what could be improved. Sponsors are typically well-in-

16 | SKILLINGS MINING REVIEW January 2022

tentioned but lacking in support; they frequently lack clear models of what it means to promote chances for women or what formal incentives are required.

A Way Ahead to Cover the Gender Inequality in Mining Sector Improving women's presence in the mining sector is not a one-size-fits-all solution. Mining firms should try to handle all three dimensions: recruitment, retention, and promotion, in order to achieve substantial progress.

We've provided a starting point (but not a complete road map) for enacting change in each priority area below.When it comes to luring women to the mining business, it lags behind other industries. The steps listed below can assist increase diversity at the top of the talent funnel: To begin, set a goal for parity in recruiting results (50 percent women). Define roles that require a broader set of

Third, make sure that women are properly "buddied" by a current employee throughout the application process (for example, by offering to help prepare for interviews, setting up introductions with other peers, and so on), and that interview panels are diverse and pushed to challenge implicit biases (either through training or by appointing a "bias challenger" to the panel).

skills—for example, technical and business—in order to attract a diverse talent pool. Beyond the female pipeline, this would be beneficial to the company.

Second, develop potential applicants as early as high school, even if they are still in high school. Events, educational field trips, and even grants can be used to do this.

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LEAD

Women are leaving the mining industry because of lack of interest and few growth opportunities, amoung other reasons.

TOP REASONS, BY EXPERIENCE GROUP % OF RESPONDENTS (n=549)

Work not interesting Bias

No growth

Skill set mismatch

Remuneration

No sponsor/mentor

Not fitting in

others

Retention.

Women are leaving mining for three reasons: the work is no longer fascinating, the cultures are not inclusive, and there is a perceived lack of advancement—we will explore the third cause in the next section. To begin, mining organizations can implement rotating programmes among business units, functions, or geographies to assist combat the decline in intellectual stimulation.

This strategy has been successfully implemented in a number of significant resource firms, resulting in increased personnel retention and a better understanding of the business. Second, while cultural change can be difficult, research has shown that firms that focus on altering their employees' thoughts and actions are more likely to succeed. Leaders use this "influence model" to articulate and model a vision for a more diverse com-

https://www.facebook.com/WomeninMiningEngineeringWIME/

pany, translate that vision into goals and KPI's that are used to assess progress on a regular basis, provide their employees with the tools they need to achieve these goals (such as implicit bias training), and hold managers accountable for achieving the initial vision. Basic safeguards for women's safety must be in place in insti-

18 | SKILLINGS MINING REVIEW January 2022

tutions, such as women-only washrooms, changing rooms, breastfeeding rooms, and on-site sleeping accommodations.

There should also be a zero-tolerance policy for discriminatory or non-inclusive behavior, as well as safe routes for women to raise concerns (for example, a company ombudsperson).

Women are leaving the mining industry report the lowest number of sponsors among all groups.

AVERAGE NUMBER OF SPONSORS FOR WOMEN EMPLOYEES,

BY GROUP, % OF RESPONDENTS (n=549)

Promotion.

Women in mid-career may leave the mining profession due to a perceived lack of progression possibilities. Sponsorship can assist women in advancing in their careers. The most frequently mentioned benefit that female respondents felt their sponsors gave was stretch possibilities.

The issue of how to give sponsorship to mining corporations is a challenge.

These programmes can be formalized by matching senior leaders with more junior colleagues, but our experience has shown that establishing an environment in which these ties naturally spark leads to more effective programmes. One approach to do this is to organize coffee or lunch meetings between senior leaders and junior employees, encouraging both groups to choose individuals with whom they would like to form sponsorship connections. In circumstances where a

high-performing woman lacks organic sponsorship in her group, more official assignments can be formed. In these situations, it can be a good idea to partner her with a leader who has shown support for women, even if they are from a different group.

of junior women's sponsorship as part of the appraisal process for leaders.

Mining firms face a generational challenge: maintaining competitiveness in a world of diminishing productivity and quickly expanding and differentiating technology, all while meeting and exceeding safety and sustainability standards. To achieve these objectives, the industry will require the most diverse and well-rounded talent pool conceivable.

A hands-on and systematic engagement between talent and HR functions, operational units, and company executives should be used to create a viable road map for diversity.

Once annual strategic planning is completed, it cannot be an afterthought.

Diversity of talent is a moral necessity as well as a commercial opportunity, and it also gives you a competitive edge.

In terms of productivity, creativity, and ESG leadership, mining businesses that leverage the power of a full talent base by attracting women and supporting their development across the career pipeline will gain an advantage.

Mining businesses can clearly disclose examples of a sponsor who has successfully supported a high-potential female employee, as well as the benefit made for both the company and the individuals involved, once sponsorship agreements are in place.

Leaders in charge of diversity goals must also centrally oversee the programme, relying on data analysis to assess sponsors' efficacy and track both sponsorees' progress and sponsors' track records.

Leaders might use surveys and focus groups to gauge public opinion about the initiative. It is critical to incorporate proof www.skillings.net | 19

UNDERGROUND MINING

How can we ensure that technology is adopted in the mining industry?

To be suitable for the twenty-first century, mining operations must overcome specific barriers by embracing technology that can render them safer and more efficient while decreasing their total environmental effect. A senior analyst recently surveyed more than 400 mining professionals and interviewed some of the world's best mining experts on the future of mining. The result of technology on the end of mining is enormous.

M

ining businesses can begin to create new ways of extracting minerals in remote regions, enhance health and safety procedures, and accelerate the shift to renewable energy by implementing deep technologies such as data analytics, robots, automation, and artificial intelligence. Technology will extend mine life.

Mines must adopt new technology because their social license requires to operate, especially since they are under pressure to work in an environmentally friendly manner. For mining firms,

technology also offers more efficient production. This gives a great motivation for them to adopt new technology, and the majority of mining corporations have already done so.

Another concern is that, in most cases, implementing technology would result in job losses, as present personnel has expertise related to how the mining company now operates.

However, implementing some technologies will alter the type of accessible work prospects. The education system in the areas where most mines are located is inadequate to cover the new-age jobs that are technology-focused.

Collaboration is essential for closing the skills gap. Mining businesses can collaborate with universities by taking advantage of the university's research for the industry.

This makes on-the-job training for new occupations, which would otherwise benefit the local community.

20 | SKILLINGS MINING REVIEW January 2022

Accelerating innovation is one of the most essential strategies to ensuring that the mining industry is future-proof, long-lasting, and environmentally conscious.

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SURFACE MINING

In 2031, the global smart mining market is expected to reach US$55.15 billion The

global smart mining market is expected to be worth

US$9.66 billion in 2021, rising to US$55.15 billion in 2031, with a CAGR of 19.0 percent. Smart mining refers to using technology and information to help mining operations achieve higher realms of safety, productivity, and lower operating costs. In comparison to conventional mines, smart mines that have already incorporated sophisticated technology can automate their activities faster.

B

ecause of the growing need for textiles and metals, mining activities are rapidly expanding worldwide.

Furthermore, growing worries about site safety, increasing automation, and rising environmental issues contribute to the intelligent mining market's rise.

RESULT OF COVID-19 OVER THE SMART MINING MARKET

The COVID-19 pandemic has disrupted the complete value chain for minerals and mining firms worldwide. The organizations have imposed travel bans and restricted access to mine sites, manufacturing facilities, and offices as preventive measures. Mining and metal firms aren't operationally flexible enough

22 | SKILLINGS MINING REVIEW January 2022

present, which protects the workers. Mining operators can also use predictive analysis and estimations to anticipate and avoid dangerous occurrences.

OPPORTUNITIES IN THE MARKET: THE ADOPTION OF IIOT TECHNOLOGY IS INCREASING DUE TO RISING DIGITIZATION.

Many mining businesses have embraced digital transformation and are leading the way in integrating IIoT into their operations.

IIoT also aids in obtaining cheaper and better communication options, fast productivity data, real-time maintenance, improved cooperation, and immediate bottleneck resolution. This enhances the safety of the miners on the job.

to adjust production as quickly as the pandemic requires. This can also lead to inefficient and imbalanced operations, which raises expenses. The capacity to run a mine remotely allows operations to continue without endangering the miners' and engineers' lives.

Market Forces DATA ANALYTICS AND SECURITY ARE BECOMING INCREASINGLY IMPORTANT.

Direct and indirect measurements are used to classify data sources in the mining industry. Instruments such as GPS and traditional geodetic surveys measure direct measurement sources. Indirect references relate to Fleet Management Systems, DCS or SCADA data, blast hole drill data, and geomodelling data that collect data as a by-product of activities or processes. With real-time data analytics, reliable mining data is available, allowing for better mining decisions.

DEMAND FOR OPERATIONAL EFFICIENCY AND WORKER SAFETY IS INCREASING.

A mining site is one of the most dangerous workplace locations, and worker safety is a significant concern. Workers who conduct manual readings in remote mining sites are also shown to be at the most important risk of damage.

Thus, in these places, the deployment of autonomous mobile assets such as wireless devices, vehicles, and remote sensors helps to reduce the requirement for the workforce to be www.skillings.net | 23

SURFACE MINING

The mines of America are open for business. Not necessarily for coal, but for vital minerals deemed critical for economic and national security by the Biden administration, such as lithium for battery power or aluminum for wind turbines.

Critical Minerals Could Be A Threat To America's Security. Mineworkers, on the other hand, are in short supply

However, there is a snag. Companies are having difficulty finding miners to recruit.

According to the Bureau of Labor Statistics, employment in mining and geological engineering will expand by 4% between 2019 and 2029. As the demand for these minerals grows, fewer skilled workers are available to fill employment openings in the industry.

"We need additional personnel," says Catherine Joyner, a mining expert. "If it stays at this level, our industry will not be able to sustain itself."

Like many other employees in the United States, Mineworkers have utilized the outbreak to rethink their employment.

According to mining economist David Hammond, many people have changed careers or retired outright.

It's not easy to mine important minerals and metals. Workers use massive machinery the size of houses and deal with explosives in subterranean and surface mines. Engineers, metallurgists, and mine managers are professionals who plan and coordinate mine operations.

Job opportunities in the industry are well-paid. According to BLS data from May 2020, the average pay of an underground mining machine operator and extraction worker is $56,000, and mining

and geological engineers earn upwards of $90,000. According to Joyner, those drawn to the job tend to stay for decades.

24 | SKILLINGS MINING REVIEW January 2022

However, the remuneration does not always outweigh the job's emotional and physical toll.

In a bid to boost iron-ore rebound, Vale has lowered its production guidance

V

ale SA has lowered its production guide for 2021 and given a lower-thanexpected projection for 2022, providing much-needed supplyside support to a fledgling rebound in iron ore prices.

dam catastrophe in early 2019 makes it a major supply swing factor.

The updated guidance could help to sustain the recent rally in iron ore prices, which has been fuelled by optimism over Chinese mill restocking. Despite this, Vale continues to aim for an annual production

capacity of 400 million tonnes, which could reclaim its position as the world's top iron ore producer, which it lost to Rio Tinto Group following the Brumadinho dam disaster. Vale pushed back its capacity target in September, from 2022 to "medium term," citing sluggish permits as a reason.

In 2021, the world's second-largest producer of steelmaking material expects to produce 315-320 million metric tonnes, up from 315-335 million tonnes previously forecast. Vale forecasts 320-335 million tonnes in 2022, compared to analysts' consensus of 346 million tonnes.

After iron ore futures fell in recent months as China curbed steel output to manage pollution and power use, Vale is defending margins by withholding some lower-quality supply and seeking $1 billion in cost cuts.

Marcello Spinelli, head of iron ore, said in December at the Brazilian mining giant's annual investor day at the New York Stock Exchange, "Value over volume is our slogan." "We will not produce if the market does not demand it."

The Rio de Janeiro-based company's ongoing recovery following a tailings www.skillings.net | 25

SURFACE MINING

‘Mining diplomacy’ is critical for the future of energy

A

ccording to global research, Australia's essential minerals would be in high demand during the planned global transition to sustainable energy.

The energy revolution will be shaped by control of the mining and export of five important minerals - copper, lithium, aluminum, nickel, and cobalt (CLANCs) - as major economies fight for supplies, according to a report by global bank Barclays.

AUSTRALIA IS ONE OF THE COUNTRIES WITH "HUGE POTENTIAL."

With roughly a quarter of worldwide lithium exports going to China, Australia's share of global deposits is substantial, while nickel and cobalt reserves are virtually undeveloped.

According to research released in December 2021, the predicted green energy revolution might become a new global driver, offsetting the end of the China-driven commodity super-cycle in 2014. However, as China increasingly looks to Africa to lock in supply by regulating mining operations, "mine diplomacy" will become more crucial.

as copper, nickel, and cobalt, is likely to be "quite inelastic" in the short run.

From 2020 to 2030, the International Energy Agency predicts a surge in demand for nickel (up 441%), lithium (659%), and cobalt (413%), providing governments stick to their stated energy goals. As the society moves towards more and more renewable energy,

According to research released in December 2021, the predicted green energy revolution might become a new global driver, offsetting the end of the Chinadriven commodity super-cycle in 2014.

Australia's most important trading partner, China, has put tariffs on coal, barley, wheat, wool, lobsters, sugar, copper, timber, wine, and grapes, but not on iron ore or key minerals. Because new mines require time, the global supply of important metals for the energy transition, such 26 | SKILLINGS MINING REVIEW January 2022

demand for residential, automotive, and commercial-scale batteries to store the energy will surge. Graphite, nickel, cobalt, and lithium are among the battery's components, as are lead, manganese, vanadium, aluminum, chromium, iron, copper, and zinc.

Critical metals are also required for solar panels, wind turbines, and enhanced transmission systems. Magnets, gearboxes, and cabling all contain neodymium, nickel, and aluminum.

Steel strengthened with titanium or chromium is required for geothermal energy production to withstand high heat and pressure, with nickel added to prevent corrosion.

Even a slight sluggishness In many commodities markets, China has remained a strong player, particularly in metals and minerals. According to Barclays, "China continues to account for more than half of worldwide import demand for ores and concentrates of aluminium, chromium, cobalt, copper, iron, manganese, nickel, and silver ores."

IMF suggests that the energy transformation will cost up to $US10 trillion ($A14 trillion) over the next decade to achieve net-zero emissions targets by 2050. Consultant Wood MacKenzie estimates that limiting global warming to 1.5 degrees will cost $US50 trillion ($A71 trillion) over the next two decades.

Fireweed Zinc is now listed on the OTCQB under the symbol "FWEDF" in the United States reaching a minimum bid price and other monetary requirements.

The OTCQB provides investors with enhanced insight to help them make better trading decisions by enforcing higher compliance and quality standards. The SEC of the U.S. recognizes the OTCQB as an established public market that provides general information for examining and valuing securities.

F

IREWEED ZINC LTD. ("Fireweed" or the "Company") (OTCQB:FWEDF & TSXV: FWZ) has been allowed to begin trading in the U.S. on the OTCQB® Venture Market (the "OTCQB") under the ticker "FWEDF" beginning November end 2021.

Quotes for Fireweed's U.S. symbol will be accessible at www.otcmarkets.com/stock/FWEDF/quote once the Company's stock begins trading on the OTCQB today. Fireweed is still listed on the TSX Venture Exchange ("TSXV") in Canada, where it trades under the symbol "FWZ." "This listing on the OTCQB will help promote Fireweed to a wider audience in the United States, improving overall liquidity," said Brandon Macdonald, CEO. We are well-positioned to attract worldwide investors with our primary listing on the TSX-Venture Exchange and our secondary listing on the Frankfurt Stock Exchange."

The OTCQB, which is run by the OTC Markets Group in New York, is the central marketplace for early-stage and developing companies in the United States and worldwide. Companies that want to participate must keep their financial records up to date and go through a yearly verification and management certification procedure, including

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www.skillings.net | 27

HENG HUANG FINANCER, HOT MINING TECH CO., LTD BEIJING 28 | SKILLINGS MINING REVIEW January 2022

PiM

profiles in mining

The idea I always pursuit in my career is the “pirate spirit” which enlightens me to observe and develop. Our team keeps sharp to the development of cuttingedge technologies. With a strong team, I’m able to find the vision whenever the time requires.

Mr. Heng Huang (Steven) graduated from the China University of Mining and Technology. He also took up advanced studies at MIT and Imperial College London. He is a fellow AuSIMM, Senior Mining Engineer, funder of Beijing HOT Mining Tech Co., Ltd. Steve has more than 15 years of engineering delivery experience in the resources industry. With rich experience in international mining, he has participated in and is responsible for mining projects in major mining countries such as Australia, the Democratic Republic of Congo, Zambia, Indonesia, Mexico, and Mongolia.

www.skillings.net | 29

PROFILES IN MINING

Please share your company profile where you work/own now Steven works as a senior executive of several companies and organizations.

He is the Founder and CEO of Beijing HOT Mining Tech Co., Ltd, the Chairman of Alpha Industrial Intelligence Holding Co., Ltd, the Founding Partner of RockX Capital, and the Director of BDLP(Indonesia).

Beijing HOT Mining Tech Co., Ltd is committed to providing “One-Stop" X-technologies and associated services to the resource industry from Exploration to Mine Closure. Alpha Industrial Intelligence Holding Co., Ltd is dedicated to providing intelligence mining solutions, based on IoT (Internet of Things), for Mining & Mineral projects.

RockX Capital focuses on investment in rare and precious mineral resources and venture exploration investment, and is committed to becoming a world-class mining private equity investment fund management company.

BDLP is independent, competitive, and has good relations with the government to boost the economy through the mining sector. BDLP is developing a gold polymetallic mine in Hulubalang Indonesia.

Kindly throw some light on your professional journey so far, how you started, your experience, and what you wish to achieve?

I started my career journey with John Finlay in 2004 and created lots of sales records as a team member which was a great experience for such a young miner to build confidence.

For the next 3 years from 2007, I worked as sales director to be in charge of team management, marketing development, clients’ relationship maintenance, project

Where in the east or west, it’s getting harder to recruit young miners to face the work in the dangerous and complex mining site. The miners themselves should find a way out, and the working mode changing will be necessary. financial raising. My career had rapid growth with experience distillation.

I started my own company (HOT Mining) in 2011, nearly the end of the golden decade of China's coal industry. The development of the coal industry was at

30 | SKILLINGS MINING REVIEW January 2022

a historical turning point at that moment, and companies were facing the impact of enterprise mergers and energy structure adjustment. I must say it was an era of encouraging technological innovation, and an era that was full of challenges and chances.

PiM

profiles in mining

The idea I always pursuit in my career is the “pirate spirit” which enlightens me to observe and develop. Our team keeps sharp to the development of cutting-edge technologies. With a strong team, I’m able to find the vision whenever the time requires. Our goal is to build a top 50 mining company around the world in the next 20 years.

AI is transforming the way the mining sector works. What is your opinion is the most important in this regard and how can miners achieve it?

First, this is an irreversible trend. As for China, we are a little ahead in this AI revolution. I think the most important part to achieve is the technological innovation and some driven motivations.

THE MINING INDUSTRY IS CHALLENGED BY 3 MAIN INTERNAL MOTIVATIONS:

1. The global mining grade has decreased and the mining depth has increased. It’s required a new mining method that is why the autonomous haulage system has been fully applied to the Pilbara iron mine and the XRT sensor-based sorting technology has been used in the

Laos copper mine to improve the cutoff grade and prolong the life service of the mine.

2. Safety will be prior to future mining.

The mining company will try to not dispatch the employee in the area with dangerous risky. So, AI, driverless technology, and automation technology will be the perfect solution.

3. Where in the east or west, it’s getting harder to recruit young miners to face the work in the dangerous and complex mining site. The miners themselves should find a way out, and the working mode changing will be necessary.

Remote Control, XRT Sensor-based Sorting, AI flotation, autonomous driving are some new technologies in the mining industry. What do you think is the rate of adoption by miners and what kind of training and facilities do they need to become proficient?

These technologies will go crazy. Safety, efficiency improving and cost saving will urge them to adopt most of them. But the rate of adoption will be a difference between companies in which specific

www.skillings.net | 31

PROFILES IN MINING

industry they belong or how is the size of their volume. With the continuous evolution of these technologies, physical applications become pretty easy to operation. So, the operators just need professional training or pass a test something like that.

How do you rate different places like the USA, China, Mongolia, Africa, etc. from a mining standpoint? How developed or non-developed do you think these places are?

I have to say, speaking of the management standard and advanced technology, the USA, Australia, and Canada are giants.

Take a look at other regions, whoever you name it, they get plenty of defects and underdevelopment.

China, with more than 10 years of development, got very close to Europe and USA in the technological innovation. For the rest of the world, the polarization is serious. Take Indonesia as an example, the mining projects can get well managed if they are led by Chinese or Indonesian companies.

But you can find hiring child miner still happen in Indonesia. The current situation in Africa is similar to that in Indonesia.

Mongolia, in particular, the development of the mining industry started late, but the starting point is high.

They are benefited from the investment of western companies. Also, for the small size mining company, the polarization situation happens.

What is the future of coal, copper, gold, zinc, lead, silver, fluorite, barite, and other base metals in smart mining?

I want to stress smart mining will require a bigger volume of funding. Smart mining can be fully implemented in the mine 32 | SKILLINGS MINING REVIEW January 2022

PiM

profiles in mining

China, with more than 10 years of development, got very close to Europe and USA in the technological innovation. For the rest of the world, the polarization is serious. Take Indonesia as an example, the mining projects can get well managed if they are led by Chinese or Indonesian companies. with a scale effect. Some small and medium-sized mines can only realize a part it. For example, coal, lead, zinc, copper, nickel mines can easily adopt smart mining, as they have a scale effect.

But it is difficult for like barite and fluorite mines to implement smart mining instead.

What are the most important SAAS services in mining and why?

The biggest role of SaaS is to break the information island and improve enterprise efficiency. Especially for large mining companies, there are time differences, information blocking, and other problems in communication, and SaaS can effectively eliminate these problems.

What is your view on women in mining? What is the current industry ratio of such a workforce and how do you think can we achieve a more balanced one in the future?

My opinion on women in mining is that some countries will be more open-minded. But we can’t be too critical to the countries they not hiring women to work underground, most of them are acting as protection purposes.

I’m looking forward to a ratio increase of women in the mining industry, but probably not easy to reach a balance. Here is the ideal from me, no matter men or women, I’m longing the intelligent technologies can improve our working environment. www.skillings.net | 33

SPECIAL FOCUS

Times Of Economic Complexity, Going for Gold: An Idea In times of economic complexity, going for gold is a good idea.

In order to create more industrial sovereignty, Australia

should look to improve its economy through sophisticated manufacturing and export diversification. Australia finished sixth overall with 46 medals, including 17 gold, at the 2020 Tokyo Olympic Games. In this nation consisting of 25 million people, Australia has punched way above its weight in the modern Olympics, achieving one of its finest results.

Y

ears of planning and investment went into this success. In the four years running up to the Tokyo Olympics, the Australian Sports Commission (ASC) spent more than $500 million on athlete preparation.

While Olympic success is crucial for encouraging community participation and instilling a sense of national pride, Australia is woefully behind the curve when it comes to a key indicator of long-term economic success: economic complexity. Economic complexity is a metric that assesses a country's ability

to produce goods and the sophistication of its exports. These are necessary for increased productivity and global competitiveness.

Australia was ranked 79th in the world for economic complexity in 2019. This ranking places them behind emerging economies such as Kazakhstan and Chile and only marginally ahead of Mauritius and Guatemala, despite the fact that we consider ourselves to be an "advanced economy."

Other rich countries such as Japan, Taiwan, Switzerland, Germany, South

34 | SKILLINGS MINING REVIEW January 2022

Korea, Singapore, and the United States, on the other hand, make up the top ten nations for economic complexity.

In comparison to the majority of industrialized economies, Australian exports are both diverse and sophisticated. Iron ore, coal, and mineral fuels are major exports, leaving the economy subject to commodity price fluctuations while also denying Australia the potential to create onshore value by leveraging its human and financial capital.

Although Australian miners' efficiency is undeniable, the dig-and-ship model that underlies the economy needs to be reconsidered if Australia is to succeed in the decades ahead.

Throughout the COVID epidemic, the limitations of Australia's industrial capability have been exposed. During the early phases of the pandemic, supply chain breakdowns of vital protective equipment and face masks were common,

importance of maintaining and expanding sovereign capabilities in an increasingly technical and scientific-driven global economy. South Korea has become a major producer and exporter of electrical machinery, circuit boards, computers, batteries, and automobiles, thanks to well-crafted legislation.

This benefits the citizens' well-being and the country's balance of payments.

Furthermore, by 2025, South Korea will have invested around AUD $2.7 billion to become one of the top five vaccine producers in the world.

The Commonwealth Government's $1.5 billion Modern Manufacturing Plan pales in comparison. Australian governments, on the other hand, focused a lot more on boosting the economy through "flashy" infrastructure projects like the $11 billion Western Sydney Airport metro.

Although Australian miners' efficiency is undeniable, the dig-and-ship model that underlies the economy needs to be reconsidered if Australia is to succeed in the decades ahead. and Australia's ability to vaccinate the population quickly was limited due to a lack of onshore mRNA vaccine manufacturing expertise. CSL's manufacturing capability, on the other hand, has been

important in maintaining a consistent supply of vaccines in the face of other countries' export embargoes, demonstrating the necessity of preserving sovereign capability. Other countries recognize the

If this level of investment were transferred to the promotion of modern manufacturing, huge opportunities would open up. Australia is in a dominant position to become a significant exporter of clean hydrogen and energy-intensive manufactured goods, thanks to the global shift to a low-carbon economy and Europe's recent imposition of carbon border fees. Increasing the domestic value of exports like rare earths and utilizing the research base through increased commercialization of discoveries would create high-value jobs, boost productivity, and ensure the capacity to export competitively for future generations.

Australia is a country with tremendous potential. It's time to go for gold in terms of economic complexity by leveraging rather than exporting the abundant natural resources to develop world-class industrial capabilities. It wouldn't hurt to assist in the repair of the world as well!

SPECIAL FOCUS

Advantages of Growing Renewables on Contaminated Lands It may be mutually beneficial to use contaminated land for sustainable technology. Industries have begun to reduce pollutant production since the United Nations (UN) developed the Paris Agreement in 2015. They adopted the concept of sustainability...

36 | SKILLINGS MINING REVIEW January 2022

Workers try to clear algae from a polluted lake in Anhui Province. TPG/Getty Images

www.skillings.net | 37

SPECIAL FOCUS

It may be mutually beneficial to use contaminated land for sustainable technology.

Industries have begun to reduce pollutant production since the United Nations (UN) developed the Paris Agreement in 2015.

They embraced sustainable practices, such as adopting green technology and enforcing strict standards. On the other hand, some contamination is irreversible or persists over generations.

Companies can contribute to the Paris Agreement by putting renewable energy devices on sites that they have contaminated. Surface-level and atmospheric deterioration can be considerably reduced by putting sustainable technology on top of contaminated areas.

The first step is to find out at what place the contamination is and how environmentalists are reacting.

What Are the World's Most Polluted Locations?

During the Industrial Revolution, Americans improved their industrial processes. They created enough things to meet society's requirements using costeffective materials and fossil-fuel-derived energy. While the facilities met their output goals, they also produced massive pollutants at the surface.

Professionals transferred production to less-developed countries after assessing the environmental damage, distributing environmental repercussions—outsourcing industrial processes allowed for the preservation of previously undeveloped territory in the United States. Regrettably, many of the once industrialized areas are still polluted.

Aquatic environments are among the most polluted. Pollution levels in rivers like the Mississippi are high, making

The Powder River Basin in Wyoming. The climate damages from coal mined from this region are greater than its market value.Credit...Robb Kendrick/National Geographic Creative, via Corbis

areas of the river unfit for human usage.

Oil spills and shipping trash have contaminated other coastal areas, such as the Gulf Coast.

term solutions. They build renewable energy gadgets on top of contaminated places and generate emission-free electricity in uninhabitable areas.

The soil where Americans extract oil for their energy requirements is also contaminated, rendering certain parts uninhabitable. Fracking techniques force multigenerational families out of their homes, and nuclear power plants have a similar effect. Old warzones render terrain uninhabitable, limiting society's access to safe resources and growth areas.

Why Are Environmentalists Using Renewable Technology to Clean Up Polluted Lands?

Environmentalists assessed the problems caused by contamination to develop long-

38 | SKILLINGS MINING REVIEW January 2022

People's health and well-being can be protected by repurposing contaminated land for clean energy generation.

Alternative land uses are being used by environmentalists to relocate communities from contaminated areas to safer areas. Individuals are protected from bad air quality consumption and harmful resources by increasing

the atmosphere, which also supports the global ecology.

Greenhouse gases change the planet's temperature management process by increasing the pace at which heat is produced. They also capture excess energy in the atmosphere, filtered back into the system via the heat development process.

The emissions raise the temperature of the Earth over time.

By improving renewable electricity production rates, energy professionals can reduce emissions and reduce extra environmental contamination. Putting clean energy systems on top of contaminated land has several environmental and financial advantages.

Marine Biodiversity Protection Solar panels are used by environmental engineers and scientists to preserve contaminated rivers and canals from further degradation. Algal blooms are caused by growth enhancers such as synthetic fertilizers and insecticides in agricultural areas. When algae interact with sunlight and expand, localized oxygen levels are depleted, resulting in inhospitable dead zones. renewable energy development in contaminated locations.

People with bad health breathe air with high levels of greenhouse gas emissions.

It increases the risk of asthma, pneumonia, lung cancer, and other respiratory disorders in people. The use of hazardous areas for clean energy production increases the land's profitability and aids the government in relocating populations.

Environmentalists are also repurposing contaminated land to generate renewable energy, expanding the amount of space available for solar and wind farms. Government officials are currently working to increase society's reliance on clean

electricity. They're also having trouble finding enough land to produce enough green energy.

Professionals in the power industry can repower contaminated land to meet consumer demand for electricity. The Biden administration aspires to strengthen society's reliance on sustainable energy while reducing environmental damage. Fossil fuels provide for over 80% of America's current electricity supply.

Fuel sources transfer greenhouse gases into the atmosphere during combustion, altering climatic conditions. The Earth's surface-level temperatures are regulated by the consistent composition of

Photovoltaic panels block the sun from water sources, reducing algal blooms and eutrophication. Energy professionals can repower the region by putting the panels on top of unusable locations like contaminated bits of the Mississippi.

Agricultural Space Expansion Placing renewable energy technologies on dirty soil can also help to heal the ground and boost agricultural growth.

Solar panels operate as sun and wind barriers, allowing more water to be retained in the soil and rehabilitating degraded areas. They also cut irrigation demand by roughly 20%, which reduces www.skillings.net | 39

SPECIAL FOCUS

water exploitation and other pollution concerns. Agricultural specialists can also use soil remediation to improve the quality of contaminated land. To boost conservation efforts, they may remove pollutants and other quality-degrading materials. Individuals can considerably reduce atmospheric and surface-level pollution when they combine effective solar panel utilization.

Using Contaminated Lands for New Purposes Another advantage of putting renewable energy devices on top of polluted soil is that it increases the amount of clean electricity present in the country.

Repowering contaminated land can assist the United States in achieving its carbonneutral aim. When Biden first began office, he devised a strategy to establish a sustainable energy system.

United Nations Secretary-General Ban Ki-moon and Al Gore, former U.S. Vice President and Climate Reality Project Chairman, pose with representative of NGO's, during the COP21 conference near Le Bourget, near Paris, France. STEPHANE MAHE/REUTERS

By reusing contaminated sites, the power sector can create enough emission-free electricity to fund the effort. Residents are also protected from harmful living situations due to the repowering process.

Aquatic environments are among the most polluted.

Pollution levels in rivers like the Mississippi are high, making areas of the river unfit for human usage.

Residents of Picher, Oklahoma, for example, have suffered negative consequences as a result of previous mining operations.

Chat piles left by the mining sector can be seen throughout the region, exposing people to dangerous poisons. Oklahoma has a high rate of wind power production compatibility. The money from the energy sector can be used by government officials to clear up trash piles and improve household safety.

solar-powered emission-capture system.

Landfills are responsible for about 17.7% of dangerous air pollutants like methane.

Supporting Carbon Capture in Landfills Professionals in the energy industry can also help the environment by installing renewable energy devices over landfills.

Environmental engineers created a

Methane and carbon dioxide must be trapped and filtered to preserve the atmosphere. To power the gadget and retrieve toxins from landfills, the capturing method uses photoelectrochemical cells.

The method can greatly improve environmental conditions over time, reducing the likelihood of future contamination.

Which renewable technology is the most effective at reducing industrial pollution?

After weighing the benefits, electricity professionals may feel obligated to install

40 | SKILLINGS MINING REVIEW January 2022

clean energy devices over contaminated areas. The most efficient technology is determined by the industry that it supports. Solar panels are most suited to agricultural land, whereas wind turbines are best suited to Midwest industrial areas.

All renewable energy technologies carry the potential to increase resource conservation on the planet. Individuals can obtain government aid through tax incentives to acquire and install power generation devices after determining the optimal method for a contaminated region. Professionals may notice a reduction in pollutants and an improvement in residential health following the installation process.

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SPECIAL FOCUS

Experts suggest that low-cost renewable energy might help the industry upgrade iron ore production and bring steel-making onshore.

42 | SKILLINGS MINING REVIEW January 2022

Miners Alert

Global Push For Green Steel In Way Of $150 Billion In Iron Ore For Australia Adapt Says Analysts According to a Bloomberg New Energy Finance analysis, BHP, Fortescue, and other big Australian iron ore miners may be left behind in a global conversion to hydrogen-based steel-making due to the country's comparatively low-quality ores.

T

h e re s u l t wa s re a c h e d i n the consultancy's paper Decarbonising Steel: A Net-Zero Pathway, which was released on Tuesday. It outlined many options for weaning one of the world's largest greenhouse-gas generating industries off fossil fuels.

According to the research, achieving net-zero emissions would necessitate additional investment of up to $US278 billion ($A388 billion), a move to more recycled steel, and a range of carbon prices.

The transition to electric arc furnaces, which would ideally be fueled by renewable energy, would normally need the use of high-grade iron ore pellets as feedstock, according to the paper.

"A little amount of high-grade ore is now produced, largely in the Americas, Europe, and the Middle East," according to the research, "however there are good qual-

ity reserves in South Africa, India, Russia, and Brazil." "In Australia, lower-quality ore producers may need to purify their product further to make it appropriate for hydrogen [electric arc furnaces], potentially rising production costs," it said.

"This issue could slow the adoption of hydrogen direct reduction technology, or it could force iron ore production and possibly green steel-making capacity closer to higher-grade ore producers."

Iron ore is Australia's most valuable single export, valued at almost $150 billion in the fiscal year ending in June. The government predicted earlier this year that dropping ore prices would bring in around $113 billion by 2022-23.

The steel industry, which accounts for around 7% of world emissions, will be in the vanguard of efforts to reduce carbon pollution if disastrous climate change is to be avoided.

SPECIAL FOCUS

If the making of the fuel can be scaled up and prices come down, hydrogen, especially hydrogen derived from renewable energy, could be a viable substitute for the metallurgical coal used in the steel-making process.

Academics such as John Pye, an associate professor at Australian National University, have recognized a threat to Australia's expected mineral richness if green steel technologies favor ores other than those found in the Pilbara region of Western Australia.

"It's critical to Australia's balance sheet," Pye said, adding that "the jury is still out on how competitive we can be in a decarbonized steel market."

To enhance the grade of Australia's minerals to that of Brazil's or other competitors, Pye said, a procedure known as beneficiation – which removes impurities in the ore – would be required, but that would increase costs and reduce miners' earnings.

Green hydrogen processes, meanwhile, may favor magnetite ores over hematite ores, which dominate in the Pilbara, according to Pye. However, there is magnetite in the area.

Iron Bridge is a magnetite project being built by Fortescue in the Pilbara, with initial production anticipated for the end of 2022. When it gets online, it will be the only one of the main three with a magnetite operation.

Fortescue, along with Fortescue Future Industries, is studying a variety of approaches to manufacture green iron that might replace the need for coal, according to Elizabeth Gaines, the company's chief executive. These included electrochemically converting iron ore to green iron at low temperatures without

If the making of the fuel can be scaled up and prices come down, hydrogen, especially hydrogen derived from renewable energy, could be a viable substitute for the metallurgical coal used in the steel-making process. the use of coal and direct reduction of iron ore with green hydrogen.

"We have successfully made high purity green iron from Fortescue ores at low temperature without coal as part of our early-stage test work, and we are now focusing on scaling up the process," Gaines added. "We are considering a broad value chain approach as per our

44 | SKILLINGS MINING REVIEW January 2022

strategy to make investments in the future of our core iron ore biz, and expand to commodities that favor decarbonisation," she said, adding that the Iron Bridge Magnetite Project is one of the few such ventures globally, and will produce 22 million tonnes of high grade 67 percent Fe magnetite concentrate per year.

Kobad Bhavnagri, BloombergNEF's global

head of industrial decarbonization, said the shift to green steel "may bring both huge disruption and great opportunity" for Australia's iron ore miners.

According to Bhavnagri, "many studies demonstrate that green hydrogen is emerging as both the cheapest and most practical means to create green steel."

"However, Australia faces a technological challenge as a result of this transformation. Not only would it effectively eliminate metallurgical coal exports, but it may also have a negative impact on

iron ore exports if miners do not adjust."

Miners and investors depending on a sluggish shift to hydrogen, he added, could be left behind, just as electricity businesses were pushed behind by falling pricing for new solar and wind farms.

According to Bhagnagri, it is not certain that Australian iron ore producers will lose out because the country's abundant, low-cost renewable energy provides an opportunity to increase iron-ore production onshore and attract additional steel-making to Australia.

"Australian businesses must take the lead to define the industry's future in their favour, or risk it evolving in a way that disadvantages them," he said.

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STATISTICS

NOVEMBER 2021 CRUDE STEEL PRODUCTION

W

orld crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 143.3 million tonnes (Mt) in November 2021, a 9.9% decrease compared to November 2020.

CRUDE STEEL PRODUCTION BY REGION

Africa produced 1.5 Mt in November 2021, up 37.4% on November 2020. Asia and Oceania produced 98.3 Mt, down 15.5%.

The CIS produced 8.8 Mt, up 5.8%. The EU (27) produced 12.9 Mt, up 3.7%. Europe, Other produced 4.3 Mt, up 4.4%. The Middle East produced 3.8 Mt, down 5.3%.

North America produced 9.7 Mt, up 9.3%.

South America produced 3.9 Mt, up 3.5%.

TOP 10 STEEL-PRODUCING COUNTRIES

The 64 countries included in this table accounted for approximately 98% of total world crude steel production in 2020.

Regions covered by the table: Africa, Asia and Oceania, CIS, European Union (27) Europe, Other, Middle East, North America, South America.

China produced 69.3 Mt in November 2021, down 22.0% on November 2020.

India produced 9.8 Mt, up 2.2%. Japan produced 8.0 Mt, up 10.7%. The United States produced 7.2 Mt, up 13.8%. Russia is estimated to have produced 6.5 Mt,

Table 1. Crude steel production by region nov 2021 (mt)

% change nov 21/20

Table 2. Top 10 steel-producing countries

jan-nov 2021 (Mt)

% change jan-nov 21/20

nov 2021 (mt) china

1.5

37.4

14.7

31.1

98.3

-15.5

1,264.9

1.3

8.8

5.8

97.0

6.8

12.9

3.7

141.4

17.0

russia

europe, other

4.3

4.4

46.7

12.1

south korea

middle east

3.8

-5.3

37.4

-0.3

germany

north america

9.7

9.3

108.3

17.8

south america

3.9

3.5

42.1

20.7

143.3

-9.9

1,752.5

4.5

africa asia and oceania cis eu (27)

total 64 countries

up 9.4%. South Korea produced 5.9 Mt, up 2.7%. Germany produced 3.4 Mt, down 0.3%. Turkey produced 3.4 Mt, up 6.1%. Brazil produced 3.1 Mt, up 2.5%.

Iran is estimated to have produced 2.7 Mt, down 5.2%.

69.3

% change nov 21/20

jan-nov 21 (mt)

% change jan-nov21/20

-22.0

946.4

-2.6

india

9.8

2.2

107.3

19.3

japan

8.0

10.7

88.4

16.8

united states

7.2

13.8

78.8

18.9

e 6.5

9.4

69.7

7.1

5.9

2.7

64.6

5.6

3.4

-0.3

36.9

13.5

turkey

3.4

6.1

36.7

13.4

brazil

e 3.1

2.5

33.4

17.4

iran

e 2.7

-5.2

25.7

-3.4

The 64 countries included in this table accounted for approximately 98% of total world crude steel production in 2020. Regions and countries covered by the table: Africa: Egypt, Libya, South Africa. Asia and Oceania: Australia, China, India, Japan, New Zealand, Pakistan, South Korea, Taiwan (China), Vietnam. CIS: Belarus, Kazakhstan, Moldova, Russia, Ukraine, Uzbekistan. European Union (27). Europe, Other: Bosnia-Herzegovina, Macedonia, Norway, Serbia, Turkey, United Kingdom. Middle East: Iran, Qatar, Saudi Arabia, United Arab Emirates. North America: Canada, Cuba, El Salvador, Guatemala, Mexico, United States. South America: Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela

46 | SKILLINGS MINING REVIEW January 2022

CRUDE STEEL PRODUCTION DECEMBER 2020. Source – World Steel Association COUNTRY

DEC 2020

DEC 2019

%CHANGE DEC-20/19

2020

% CHANGE

COUNTRY

DEC 2020

DEC 2019

%CHANGE DEC-20/19

2020

% CHANGE

Austria

530 e

521

1.7

6 665

-10.2

Mexico

1 550 e

1 361

13.9

16 854

-8.3

Belgium

359

505

-28.9

6 119

-21.1

United States

6 434

7 292

-11.8

72 690

-17.2

Bulgaria

40 e

43

-6.3

485

-14.3

Croatia

15 e

7

101.9

47

-32.0

North America

9 107

9 801

-7.1

101 119

-15.5

388

326

19.0

3 651

-21.4

2 886

2 462

17.2

30 971

-4.9

Argentina

Czech Republic

408

359

13.7

4 465

0.6

Finland

339

186

81.8

3 500

0.8

France

1 155

918

25.7

11 596

-19.8

Chile

105 e

109

-3.5

1 165

2.8

Germany

3 137

2 835

10.6

35 658

-10.0

Colombia

110 e

97

13.5

1 126

-15.5

94

17.0

1 430

5.9

Ecuador

50 e

50

0.5

477

-21.5

164

-44.8

1 513

-14.5

Paraguay

3 e

3

-4.4

22

-17.5

1 404

6.9

20 200

-12.9

Peru

105 e

91

15.8

671

-45.4

Uruguay

5 e

5

-7.2

47

-24.6

Venezuela

2 e

0

315.8

29

-43.6

3 654

3 143

16.3

38 158

-8.4

Egypt

994

574

73.0

8 229

13.4

Libya

73

63

16.2

495

-18.4

297

-1.5

3 877

-37.0

934

45.5

12 600

-10.1

2 224

19.6

29 030

13.4

85

186

-54.3

1 218

-52.4

Saudi Arabia

440

664

-33.8

7 775

-5.1

United Arab Emirates

280

297

-5.8

2 722

-18.2

3 465

3 371

2.8

40 745

2.7

China

91 252

84 692

7.7 1 052 999

5.2

India

9 796

9 383

4.4

99 570

-10.6

Japan

7 526

7 785

-3.3

83 194

-16.2

South Korea

5 952

5 880

1.2

67 121

-6.0

380 e

261

45.6

3 743

13.3

1 700 e

1 693

0.4

20 570

-6.3

Thailand

410 e

357

14.8

4 420

4.1

Vietnam

1 600 e

1 876

…

19 500

11.6

118 616

111927

6.0

1 351 117

1.6

473

449

5.4

5 490

0.0

59

57

3.8

586

-12.2

533

506

5.2

6 076

-1.4

Greece Hungary Italy

110 e 90 1 500 e

Luxembourg

113

97

17.3

1 886

-11.0

Netherlands

540

521

3.6

6 054

-9.1

Poland

680 e

642

5.9

7 890

-11.9

Slovenia

50 e

34

45.0

570

-8.5

Spain

891

765

16.4

10 934

-19.5

Sweden

410

376

8.9

4 409

-6.6

United Kingdom

710 e

550

29.0

7 185

-0.5

Other E.U. (28) (e)

680 e

642

6.0

8180

-12.1

10 665

10.2

138 786

-11.8

European Union (28) 11 757 Bosnia-Herzegovina

75

70

6.5

759

-5.2

Macedonia

33

24

35.9

180

-24.8

Norway

41

40

3.2

624

0.5

Serbia

119

158

-24.8

1 456

-24.6

Turkey

3 403

2 893

17.7

35 763

6.0

Other Europe

3 671

3 185

15.3

38 782

3.9

Byelorussia

200 e

225

-11.2

2 490

-5.0

Kazakhstan

355 e

374

-5.0

3 835

-7.2

45 e

35

28.2

465

18.7

Russia

6 110 e

6 159

-0.8

73 400

2.6

Ukraine

1 906

1 561

22.1

20 616

-1.1

84

-4.8

950

42.6

Moldova

Uzbekistan

80 e

C.I.S. (6)

8 696

8 438

3.1

101 756

1.5

Canada

1 070 e

1 092

-2.0

11 078

-14.1

20 e

22

-8.5

181

-21.4

El Salvador

8 e

8

-5.7

79

-22.5

Guatemala

25 e

26

-3.9

237

-22.6

Cuba

Brazil

South America

South Africa

292 e

Africa

1 359

Iran

2 660 e

Qatar

Middle East

Pakistan Taiwan, China

Asia Australia New Zealand Oceania

Total 64 countries (1) 160 858

151 969

5.8 1 829 140

-0.9

(1) - HADEED only. (2) - the 64 countries included in this table accounted for approximately 99% of total world crude steel production in 2019. e - estimated

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