Skillings Mining Review October 2021 by CFX Network, LLC

2021 OCTOBER IN REVIEW

110/09 110/10

AFGHAN'S CHALLENGES Afghanistan faces some huge challenges to knock its mineral resource abundance

Want to Avoid Lithium Stock Crisis, but is there still time?

Interview with Alan Mitchell Clegg. Independent Director of Resource Companies, South Africa

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EQUIPMENT

14 Komatsu Vale Partnership Mining Breakthrough

PROFILES IN MINING

27 I nterview with Alan Mitchell Clegg. Independent Director of Resource Companies, South Africa

THE LEAD

08 Afghanistan faces some huge challenges to knock its mineral resource abundance

UNDERGROUND MINING

18 Underground mining equipment market to gain momentum by 2017-2025

SPECIAL FOCUS

35 Want to Avoid Lithium Stock Crisis, but is there still time?

STATISTICS

46 August 2021 crude steel production 47 crude steel production December 2020

SURFACE MINING

05 Bowen: Bring Around Burton Coal Mine

06 A m p c o n t r o l & P P K M i n i n g Equipment ally to deliver EVs for subterranean coal

22 Brazil experiences a mining boom: Iron Ore Plenty

16 Automation Expertise Enricher for Mines

24 Will Automation Help You Out from Not So Interesting Work Components?

25 Trevali shows $111m for Rosh Pinah 42 How ‘Automation’ Made America Work Harder

www.skillings.net | 3

OCTOBER 2021 VOL.110. NO.10 2021 OCTOBER IN REVIEW

110/09 110/10

AFGHAN'S CHALLENGES Afghanistan faces some huge challenges to knock its mineral resource abundance

Want to Avoid Lithium Stock Crisis, but is there still time?

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Interview with Alan Mitchell Clegg. Independent Director of Resource Companies, South Africa

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SURFACE MINING

Bowen: Bring Around Burton Coal Mine In the days after the preferred bidder designation was granted

for the stopped Bluff coal mine at Carabella Resources, Bowen Coking Coal, which is centered in Queensland, inked a 'transformative' binding contract for 90% of the suspended Burton mine and its surrounding resources.

he conditions with New Hope Corporation include payment of A$20 million in advance to the New Hope Corporation for the interest in the fellow LentonJoint Undertaking, including Burton, a 5.5 million ton per annum coal-fired plant, transport routes, and load-out facilities. At least $10 million in cash must be

delivered as a down payment, and there are proceeding milestones along with royalty payments not allowed to exceed $77.5 million. Burton ran for nearly 20 years until Peabody Energy, who was the owner at that time) was stopped in 2016 because of low charcoal prices.

With Bluff, Burton, and its current production ambitions in the adjacent Broadmeadow East, and Isaac Rivers at the core of the Bowen coal basin, Bowen aims to become a significant multi-mine coking coal producer. Burton would provide it a focal center with an infrastructure replacement worth $300 million. It thinks that within 12 months, six months after Broadmeadow East and Isaac River, Burton can return to production. Bowen plans to produce 5Mtpa each year by 2024.

www.skillings.net | 5

SURFACE MINING

Ampcontrol & PPK Mining Equipment ally to deliver EVs for subterranean coal This arrangement among Australian manufacturing and tech companies is expected to provide a variety of innovative BEV technologies for underground mining operations.

atest PPK Mining Equipment (PPKME) personnel carrier vehicles will have the newest world-class BEV technology from Ampcontrol. In addition to adding the diesel drive trains in COALTRAM flameproof and explosion safe diesel Load Haul Dump utility auto, these two will work together to do this in a range of other vehicles. This is a great chance to bring together the industry knowledge to present the first new battery-electric people carrier vehicle developed and manufactured in Australia for the underground coal sector, stated PPKME Global Head of Mining, Dale McNamara. A COALTRAM utility vehicle will assist both customers and workers by expanding the partnership with Ampcontrol BEV to design and produce more vehicles for all underground mines – was what he suggested. Ampcontrol BEV technology relies on creating solutions for hazardous settings, such as underground coal mines, on the strength of its reputation in the market and skill in engineering. “We are looking forward to developing a strong association between PPKME and Ampcontrol, combining our engineering expertise, advanced technology solutions, and world-class manufacturing to deliver the future in battery electric vehicles for our industry” (Henderson, AmpControl MD and CEO).

6 | SKILLINGS MINING REVIEW October 2021

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THE LEAD

Afghanistan faces some huge challenges to knock its mineral resource abundance

Many issues are left unanswered as the conclusion of the U.S.-led war in Afghanistan nears, including how Afghanistan can establish a viable and sustainable economy. Following the withdrawal of U.S. support, Afghanistan is left behind with very few pickups! One such option resides in the nation’s resource of natural wealth. Approximately $1 trillion in nonfuel minerals exists in Afghanistan, making it a net exporter of resources.

8 | SKILLINGS MINING REVIEW October 2021

rewards are better understood, the resources will not give a head start in kicking a new economy. It is expected to take at least seven to ten years before large-scale mining will become a significant new source of income for the residents of Afghanistan.

he resources may lie in the natural world. The nation has been famous for its precious jewels for thousands of years. For the most part, these minerals are mined in tiny, artisanal mines that are legal and illicit. Blessings of iron, copper, lithium, rare earth elements, cobalt, bauxite, mercury, uranium, and chromium, on the other hand, have much greater value.

U.S. GEOLOGICAL SURVEY FOLLOWS THE SOVIET MODEL

Scientific knowledge of these resources is exploratory, even if the overall mineral richness is considerable. Even if the

Among the first modern surveys of Afghanistan's minerals were those performed by British and German geologists in the 19th and early 20th centuries. The Soviets conducted www.skillings.net | 9

THE LEAD

a significant amount of exploratory research in the 1960s and 1970s, resulting in a great deal of comprehensive material that provided the basis for more current investigations. The U.S. Geological Survey examined additional data obtained via an aerial survey, limited field verification, and information from the Afghanistan Geological Survey during a little less than ten-year period beginning in 2004 and going up to 2011. This study has provided improved information on mineral locations, richness, and abundance. Anyone who studies the material as thoroughly as expected would be hard-pressed to overlook the massive exploration effort undertaken by Soviet experts. Huge sampling and borehole drilling were executed, and many lab analyses were done upon relevant samples. The enormous financial and time resources put into the endeavor, especially in light of Afghanistan's colonial past, clearly indicates that significant high-level strategies were under development to extract the country's minerals once it was a part of the Soviet sphere of influence. According to this information, the U.S. Geological Survey identified 24 potential mineral deposits in the country and calculated their total amount in terms of mineral value and kind. The administration would then utilize all this data from these 24 research fields to help them in their strategies to take advantage of such an exuberant bundle of resources. Chinese and Indian firms were eager to invest and received substantial discounts. However, contractual issues and worries about security have been on hold since the late 2010s as arguments about contract conditions persist.

A Chinese company built this mining camp at Mes Aynak in Afghanistan about 10 years ago to house workers for a planned copper mine that never began production. The people in the front were taking part in an archaeological dig. Jerome Starkey/flicrk, CC BY-SA

MINERAL AFFLUENCE

In Afghanistan, how much mineral richness does one find? The estimates of metals of particular interest presented by the U.S. Geological Survey are as follows: copper, iron, lithium, and rare earth metals. The USGS estimates for itself that its estimates are "conservative" but also "preliminary." Still, the overall resources are very substantial. About 57.7 million metric tons of total copper resources are currently recognized. The estimated market value

10 | SKILLINGS MINING REVIEW October 2021

of the resource is $516 billion as per current pricing. These are unveiled resources that have been found but not yet analyzed thoroughly. However, they’ll put Afghanistan in the top five countries for copper deposits if additional research finds them recoverable at a profit, proving very beneficial for the country which is striving to thrive at the moment. The “Aynak Ore” body, situated approximately 30 kilometers southeast of Kabul,

has the world's most significant known deposit of copper, as well as substantial quantities of cobalt. Mine development was first launched in 1979 when the Soviet Union invaded Afghanistan. However, the Soviets halted work on the mine in 1989 as they withdrew from the country. At current market pricing, the entire Aynak deposit's high-grade part is expected to be 11.3 million metric tons of copper, worth $102 billion. In Afghanistan, the Haji Gak iron ore deposit located in Bamiyan Province con-

tains one of the world's most abundant iron ore deposits, and this is another site of major significance. The iron content of the estimated 2,100 million metric tons at Haji Gak's high-grade ore is 61% to 69% iron by weight. This is $336.8 billion in extractable iron on the current market stats, making Afghanistan rank among the top 10 countries globally. Geologists were astonished by the number of Lithium resources in Nuristan Province, which presented as veins (lithium is also mined from brine). However,

since a search for such deposits has risen throughout the globe in the last decade, it is a substantial yet not plenty a resource in today's terms. These deposits consist of cerium, along with lower amounts of more valuable lanthanum, praseodymium, and neodymium, going up to perhaps 1.4 million metric tons. 2 out of these, praseodymium and neodymium, are very expensive – more than $45,000 per metric ton – and make high-quality magnets deployed in motors for hybrid and electric vehicles, however, if compared to other countries, this is still not very considerable. Last but not least, minerals known as rare earth elements occur in the southern Helmand Province. Cerium accounts for the largest share of these resources, followed by considerable quantities of other essential rare earth elements totaling around 1.4 million metric tons approximately. Much precious lanthanum, praseodymium, and neodymium can be found in this reserve; the price levels for these two elements, praseodymium, and neodymium, are at an all-time high (higher than $45,000/metric ton). These are the resources that produce excellent permanent magnets deployed in hybrid and electric vehicle motors, but unfortunately, the abundance of these elements is not very enormous in comparison to what the other nations carry. Nevertheless, this is a vital and favorable status for Afghanistan, especially given the current economic turmoil. POLITICAL PRESSURES ON THE SURFACE ASPECTS

View of a gold mine in Nor Aaba, Takhar province, Afghanistan. Omar Sobhani | Reuters

As a rule of thumb, mining experts propose that what is above the earth is much more important than what is below it. Market realities, security, contract terms, infrastructure, and environmental www.skillings.net | 11

THE LEAD

A map of mineral resources published by the United States Geological Survey in 2007. United States Geological Survey

concerns play a significant role in developing resources. And what exaggerates this criterion in today’s time is a very acute and determined demand for metals (especially copper, lithium, and rare earth elements), which are the life and soul of the now fast developing and fast gaining acceptance sectors pertaining to renewable energy and electric vehicles. The answer to this question of whether

or not Afghanistan is allowed to reap on these mining elements depends on the actions of the new Taliban regime. One $2.9 billion contract for a section of the Aynak copper mine was given to two state-owned Chinese firms. This happened under the Former Ministry of Mines. The 30-year deal finalized in 2007 required ore smelting and processing to be done locally, and the royalty rate for this was above the world average.

12 | SKILLINGS MINING REVIEW October 2021

Also, on the agenda was establishing a 400-megawatt coal power plant and constructing a rail line that would link Pakistan to the border. One further requirement imposed by the contract was that 85% -100% of the workers, ranging from skilled labor to management people, were Afghan citizens in not more than eight years after the beginning of the project. Though the businesses first agreed to the conditions, the restrictions subsequently proved

burdensome, thereby preventing growth. Though the presence of good-quality roads, trains, and power in Afghanistan gives the country greater access to its natural resources, the country lacks decent highways, railways, and electricity. In this instance, mining firms are not new to these types of problems. This is due to rugged terrain and the fact that the nation is landlocked. Especially for moving ore, raw or processed, railroads are essential. There is present a vast site of Buddhist relics, sculptures, temples, and stupas, at

less than a mile north of the Aynak copper mine. The locations that have been used to mine Bronze Age metals also have significant archaeological riches. But much like with the Afghan sites, there is no consensus yet on how the Taliban commanders who ordered the demolition of the Bamiyan Buddha sculptures in 2001 would see these locations now. For Afghanistan, having access to the country's natural resources is a source of long-term foreign investment, skilled workforce training, and infrastructure

development, all necessary for sustained economic growth. However, another significant issue is which businesses could be part of it. Afghanistan is also in the middle of several geopolitical conflicts, such as India, Pakistan, China, Iran, and the United States. It does not make the nation's resources any less significant because the Taliban now controls the country!

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EQUIPMENT

Komatsu Vale Partnership Mining Breakthrough New mechanical technology is being developed when Komatsu

and Vale, two global mining kings, joined forces to research and create the future of subterranean rock extraction.

ynaCut (a new technology from Komatsu) has been chosen for a fantastic improvement, thanks to the company's partnership with Vale, which is also the world's leading iron ore and nickel producer. Komatsu and Vale are teaming together to revitalize the future of underground hard rock extraction by collaborating on ideas and researching cuttingedge technologies. MINING PARTNERSHIP TEAMS UP TO SOLVE THE UNSOLVED FOR OPERATIONAL MACHINERY!

Komatsu's new MC51 machine will be putting the DynaCut capabilities to the test at Vale's Garson Mine in Sudbury, ON, Canada. After spending a decade researching and testing with the

newest industry innovations, Komatsu chooses to make significant technical improvements. The business has prioritized producing high-quality, highvolume breakeven results by using an all-electric zero-emission technology. In the implementation of remote machine operation, operational risks are reduced, and machine accuracy is improved. According to Vale's Chief Operating Officer for North Atlantic Operations and Asian Refineries, good cooperation between end-users and suppliers is necessary for genuine innovation. This collaboration is the beginning of our project to thoroughly investigate and understand the technology while maintaining our very high safety requirements.

14 | SKILLINGS MINING REVIEW October 2021

MINING EQUIPMENT FOR TECHNOLOGICAL REVISIONS

Hard Rock Cutting Systems director Rudie Boshoff is optimistic that this new collaboration will serve as a boon for the future of mining equipment and manufacturing practices in this field. This new equipment and technology promise to revolutionize the way our clients' mine since it will make their mining experience better – as he states. Using the cutting-edge DynaCut technology, our mining machine can cut rock within 50 millimeters of precision to plan. Later by the beginning of October 2021, at the Komatsu booth, the two colleagues will be talking about their innovation-focused collaboration. So far, their combined activities seem to be successful, and their mining equipment appears to have promising prospects. Great news for the enthusiastic miners!

HALCOR PRODUCTS Copper tubes with or without lining or industrial insulation for applications in: • Drinking water and heating networks • Underfloor heating and cooling • Gas and medical distribution networks gases • Cooling and air conditioning systems • Solar energy applications • Various industrial applications

The copper segment of ElvalHalcor S.A. is composed of six subsidiaries and seven associates/joint ventures, based in Greece, Belgium, Bulgaria, Romania and Turkey, while it operates a total of five production plants in Greece, Bulgaria and Turkey. The copper segment of ElvalHalcor S.A. develops and distributes a wide range of products, including copper and copper-alloy rolled and extruded products with Halcor being the sole producer of

Halcor is the copper tubes division of ElvalHalcor S.A. and together with four more companies form the copper segment of ElvalHalcor S.A. that specializes in the production, processing and marketing of copper and copper alloys products with dynamic commercial presence in the European and global markets. For more than 80 years, Halcor has been offering innovative and added-value solutions that meet contemporary client demands in fields, such as plumbing, HVAC&R, renewable energy, architecture, engineering and industrial production.

copper tubes in Greece. High quality in production is achieved through strict controls applied throughout the production process. With a consistent quality focus, the company implements an ISO 9001:2015 Certified Quality Management System and leverages high technologies and expert staff. As a result of the Group’s strategic investments in research & development, Halcor is recognized as one of the leading copper producers globally, setting new

standards in copper processing. The company maintains a consistent focus on quality and environmental protection and a strong commitment to the principles of sustainable development. In this context, all production facilities in the Group’s plants leverage advanced technologies to bring in the market innovative products that are energy efficient and environmentally friendly. For more information, please visit our website www.halcor.com www.skillings.net | 15

SURFACE MINING

Automation Expertise Enricher for Mines More than 100 Rio Tinto workers have already

received training to handle autonomous equipment as a result of a collaboration between WESTRAC and Rio Tinto, who’ve already celebrated their first sixmonth partnership.

100 more trainees are yet to finish training by the end of the year at the WesTrac Technology Training Centre in Collie. In March, Rio Tinto implemented this new program that prepares its employees for several jobs at its Gudai-Darri mine in the Pilbara. The site at Collie has been renovated to enable this training. Students in the course either have no previous experience in the sector or are former employees of non-automated Rio Tinto facilities. Rio Tinto Vice President of Human Resources Scott Browne with WesTrac CEO Jarvas Croome"

During a recent interview, Rio Tinto's vice president of human resources, Scott Browne, said that roughly 40% of Gudai-employees Darri's were redeployed and had no experience handling such machinery. It also comprises practical elements, such as equipment operated and used manually, for managing and utilizing vehicles used for passenger transport in autonomous transportation zones. Equipment to enable safe contact with autonomous cars has to be equipped with technology! New autonomous truck system users may find that concept difficult to comprehend. They see the independent haul truck, but they don't perceive all the underlying mechanisms that enable it to function. These mechanisms monitor the whole fleet and mine and prioritize to optimize the mine. There is also artificial intelligence that examines the fuel level of a vehicle, together with other fleet data, and discovers an opportunity for the truck to carry an additional shipment.

The Cat 789D used to train students at the facility

16 | SKILLINGS MINING REVIEW October 2021

WesTrac CEO Jarvas Croome said that knowledge such as this will be essential when the industry shifted away from traditional sources of power, such as gasoline and diesel, and moved to alternative power sources, such as batteries. To support this, a service maintenance training module for autonomous equipment on-field activities is also provided at the Collie location.

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UNDERGROUND MINING

Underground mining equipment market to gain momentum by 2017-2025 A brief on the Worldwide Underground Mining Tackle Shop!

A recent market snapshot for the Global Underground Mining Equipment Market. As we see

rising urbanization, so does the need for metal and mineral resources. The strong demand from mining companies has motivated them to invest in more sophisticated equipment, including robots, to boost efficiency and production. 18 | SKILLINGS MINING REVIEW October 2021

non-operational factors into consideration and the economic sustainability of the operation, the mining firm uses the most appropriate methods in extracting minerals. Different types of equipment are used for various stages of underground mining. Additionally, activities such as loading and hauling of excavated ore employ rubber-tired shuttle cars and trucks. Such activities include rail transport, transportation, and gravity movement. Most of the time, mineral mines will transfer the raw ore to underground equipment, where it is then loaded onto a conveyor belt and dumped into a pit. To reach the bins of the main haulage level, the ore is either loaded into a chute on the lower level or loaded into a drain

at the base of the pass, then being carried via the tube to the location. This is the location where it will be taken. For underground mining, some additional equipment often utilized includes boomheaders, continuous miners, and shearers. SNAPSHOT OF THE UNIVERSAL UNDERGROUND MINING GEAR MARKETPLACE

One kind of mining is "underground mining," in which ores, minerals, and metals such as iron ore, bauxite, titanium, and copper are extracted from below the earth's surface. Geographical circumstances, spatial and geometric features, the worth of the ore, potential operating expenses, and most importantly, the availability of raw materials all play into mining techniques for subterranean extraction.

Furthermore, strict restrictions on decreasing fuel consumption, mitigating the impacts of greenhouse gases, and having workplace safety as top priorities make it persuasive for traditional mining companies to replace existing equipment with world-class energy-efficient systems. Hard minerals such as iron, copper, nickel, lead, tin, silver, gold, zinc, and valuable stones such as diamond are the primary ingredients found in underground mining. Miners build underground chambers to extract minerals from underground. Taking operational and www.skillings.net | 19

UNDERGROUND MINING

The global underground mining equipment market can be segmented on application, and mineral mining, coal mining, and metal mining can be further divided. Coal mining continues to bring in high revenues as usual. And over the next few years, it will continue to do so as the energy industry continues to drive demand. The global underground mining equipment market can be segmented on application, and mineral mining, coal mining, and metal mining can be further divided. Coal mining continues to bring in high revenues as usual. And over the next few years, it will continue to do so as the energy industry continues to drive demand. The worldwide underground mining equipment market may be segregated into room and pillar and longwall, as far as these categories are concerned. The study published by our renowned research group includes a detailed anal-

ysis of the market, which is discussed in brief here. It is beneficial for customers since it provides in-depth qualitative information and uses previous data to create market sizing predictions. It has utilized established research methods and assumptions to get that conclusion. The report becomes a database for all of the many aspects of the industry. Also included in the research are notable companies in the market and analyses using well-known analytical techniques to reveal the current competitive landscape.

20 | SKILLINGS MINING REVIEW October 2021

MARKET DRIVERS AND TRENDS: THE WORLDWIDE UNDERGROUND MINING GEAR

Cities and industries worldwide have helped fuel the global underground mining equipment market because of the frenetic pace of urbanization and industrialization. The higher level of demand for coal for electricity generation is due to the two processes. The need for underground mining equipment, as a result, has gone up. In reality, subterranean equipment demands are fulfilled mainly by the coal industry.

with more energy-efficient models to generate greater profits.

People may now enjoy more outstanding life standards, which gives rise to increasing gold, aluminum, and copper sales. This sale has augmented demand for underground mining equipment for metals mining.

AREA WISE OVERVIEW OF THE GLOBAL UNDERGROUND MINING GEAR MARKETPLACE

A current notable trend in the worldwide underground equipment market is the broad drive to design and create new mining equipment that aids in lowering energy costs and which also has diverse applications, including transportation, excavation, washing, and screening. This trend has contributed to efficient businesses quickly replacing old equipment

The Global Underground Mining Equipment Market is segmented into major geographic regions: Asia Pacific, Europe, North America, and the Rest of the World. Due to the rise in mining operations in China, Australia, and India, Asia Pacific now leads the worldwide market with a leading share. Because of this, China's insatiable demand for coal has a considerable impact on market

dynamics. In addition to the Asia Pacific region, North America is a significant region. Due to the increasing number of mining sites in the area, the increased need for specialist mining equipment has been brought about. While laws related to mining safety, employment, the environment, and gear used have fueled demand for better underground mining equipment, government restrictions in these same areas have also fueled this need. Milwaukee is an essential contributor to the area's revenue in the Midwest. We consider the Middle East and Africa to be significant contributors as well.

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SURFACE MINING

Brazil experiences a mining boom: Iron Ore Plenty Finding a place to stay in Itabirito, a mining town in Brazil, is not an easy task in today’s date!

with the difficulty that many Brazilians have had to endure during Covid-19. More than 500,000 people have died from the illness in this South American country, and the unemployment rate has spiked to nearly 15 percent in just almost the last year and a half. Eighty percent of the 3,600 job descriptions added last year were related to mining, according to Caldeira. So there is, in fact, a surplus of openings now, rather than a shortage. Agile Minerals, a company that specializes in the design and manufacturing of mining equipment and components, built a new facility in Itabirito last year (it used what was previously a car parts factory) and now employs over 300 people, almost tripe to when it started.

odgings have become scant, and leases have climbed remarkably, say, local people, as outcasts slip on the sloping settlement looking for their fortunes — or possibly a consistent compensation — from the iron mineral stores found in this tropical district with a beautiful lush green landscape. Costs for the steelmaking fixing have revitalized over the previous year, transforming the unassuming town of around 60,000 individuals into a focal point of the worldwide items blast, all of a sudden! Mayor Orlando Cardeira marked this moment as unique, with trade at Itabirito in such bloom that even the horrendous Covid-19 could not overshadow it. As the rest of the globe resumes to grow after this incredibly long break, thanks to the

removal of limitations from the Covid-19 pandemic, there is a rising demand for raw materials and basic foodstuffs in Brazil, helping the country's miners and farmers, a dream come true for many of them! Since Itabirito is located in the “Iron Quadrangle” of Minas Gerais state, which has an illustrious history and long tradition of mining for gold and diamonds, the town has seen an explosion in jobs and wealth for the public purse. Mineral royalty revenue for the municipality, which is just a single hour's drive from the state capital of Belo Horizonte, breathtakingly doubled four times, that is increased eight times in the first quarter of 2021, rising to a swooping R$59m ($11.5m)! Although Brazil is flourishing due to this latest found opportunity postCovid-19, this newfound wealth contrasts

22 | SKILLINGS MINING REVIEW October 2021

In the aftermath of the pandemic, which saw her made redundant, 32-year-old Mariani Vaz decided to return to her hometown and took a job with the company after being away for almost more than almost ten years. Possibilities exist, which is why she wants to create a life here, as she states. She is finding many new faces on her return, besides the kith and kin she knew. Also, another point that she notes is, the town has become a bit expensive compared to the nearby cities now, but everything comes at a price, and the potential that Itabirito offers is worth a try. In his 50s, wearing overalls, Edir stalks home at the end of the week. After closing an alloys factory in 2016, he was unable to find employment for almost a year. But then, he was able to grab a job last year

at a local iron ore company. The weaker the exchange rate, the better it is for miners since it increases the price of goods while decreasing their operational expenses. As iron ore is priced in dollars, it reduces the working expenditure and increases profits in the local currency. The share price of Brazil's Vale, one of the world's biggest iron ore dealers, has gone up almost by a fifth over the course of 2021 and recently vaulted over 600% year-on-year jump in quarterly net income to $7.6bn. The trade organization forecasts the country's mineral exports, the primary component of which is destined for China, to increase in value by three-quarters to $45.2 billion in 2021. This shall supplant soybeans which are the primary source of foreign currency at the hour. The consequent good fortune that awaits Itabirito is already beginning to be felt throughout the district. This unfinished nine-story apartment building sticks out absurdly in the middle of the downtown area. A real estate agent estimated that for every vacant property he was listing in a gated community, there were at least ten interested parties. Across this mountainous valley where new houses are being built to accommodate large, luxurious homes with extravagant gardens, an artisanal farmstead dairy continues to produce Mineiro specialties — cheeses and doce de leite, or caramelized milk.

ties are considering long-term possibilities, including the cyclical nature of the iron ore market, that will for sure have some downtrend someday. In May, steel prices reached an all-time high of over $230 per ton, but since China has promised to limit the carbon footprint to combat pollution, prices have fallen in recent weeks to approximately $170 per ton. Caldeira also aims to minimize the local economy's reliance on commodities by raising tourism and other activities. He has been a local engineer at Vale. He is investing in a new health clinic, a creche, and many other road resurfacing facilities. He thinks the town has more to offer than simply iron ore, even if it does not boast as many beautiful colonial buildings as neighboring Ouro Preto does!

With all these individuals entering the workplace, the business has seen a much-needed boost due to the epidemic, feels Cristian Coelho Diniz, the owner of the Mineiro Business. But not all of the locals share the same confidence. Several local shops noted that commerce had yet to ultimately return. However, there had been a decrease in the number of Covid cases, which is for good. However, some mining catastrophes in Minas Gerais are never far distant. The village of Mariana had an accidental disaster in which 19 people died when a mining waste dam burst in 2015. So a compounded appreciation lacks the prospect. The sludge tsunami that followed the collapse of a Vale dam in Brumadinho killed 270 people almost three years later. This accident resulted in fear, and nearby people had to be evacuated from their homes near dams close to Itabirito. Vale finished work on a massive wall to safeguard neighboring towns from a breach only last month. Karina Rapucci, a business manager, said that they had developed new methods to improve ore processing while reducing the effect on dams. While Vale estimates that a further 70 years of iron ore remains to be extracted in the region, local authoriwww.skillings.net | 23

SURFACE MINING

Will Automation Help You Out from Not So Interesting Work Components? In order to enable businesses to better leverage today's au-

tomation technology to digitize their workforce, IBM is now focusing on many different initiatives. Automation is often a trigger word, especially within manufacturing environments. After all, no one wants to lose their job to a robot. Of course, automation itself casts a wide net covering both attended and unattended tasks.

class of robots has been joined, collaborative robots (cobots), to aid companies in mining to implement automation initiatives. Robots seldom have a detrimental effect on worker numbers. That is, they do not replace human force. This idea of replacement is more of a myth, as they call it -- the statisticians! At the moment, more importance is being given to things that people are doing in person. For example, consider the position that requires an individual to be in front of a computer to input data or answer consumer inquiries. In the past, automation has been challenging for many professions, but with modern technologies like AI, it is now possible for businesses to achieve such goals. In a study conducted by the IBM Value Institute, it was discovered that over 85% of companies using AI are finding ways to reduce their operating costs. However, such endeavors are limited only to call centers and some IT workplaces. Nevertheless, with IBM's Watson Orchestrate initiative, the firm hopes to democratize the skills and enable workers across the organization to automate tedious aspects of their job quickly.

n mining manufacturing settings, automation is often a hit-me-hard term. No one wants to be supplanted by robots in their workplace. Automation scoops up both activities done in person and those performed without the assistance of a person. Automation has already made successful inroads addressing a wide array of unattended manufacturing jobs. These are often dirty, sometimes dangerous, and mundane jobs. Robots and, more recently,

collaborative robots (cobots) have helped organizations address these automation opportunities. And, contrary to what some believe, stats show the addition of robots within these spaces rarely hurts the workforce numbers. Automation has already made significant advances by tackling a broad range of manufacturing tasks that are not handled by people now. These are the dirtier, sometimes more hazardous, and often tedious occupations. More recently, a new

24 | SKILLINGS MINING REVIEW October 2021

Process mining, a knowledge of the workflow from abstract to grassroots, design, and decision-making, and document processing needed, is required to automate any process. Automation of any line of business would be next to impossible without all of these. In most mining scenarios, it is the substance of what is produced, rather than the method used to have it, that changes. Incorporate Watson into platforms like emails and Slack to access interactive AI to assist with anything from arranging meetings to requesting approvals and engaging with company processes.

Trevali shows $111m for Rosh Pinah

favorable feasibility study has been issued for Trevali Mining's (TSX: TV) Rosh Pinah zinc-lead-silver mine development, which will increase production to 1.3 million tons per year from 700,000 tons per year. The expansion will comprise a new paste fill facility, a water treatment plant, an additional water portal, and decline and material to the WF3 deposit in the beginning cost of $111 million as capital. Trevalli aims to decrease operational

version available between mid-2024 and mid-2025. Once the tax rates get included, we can see that the project is profitable after-tax, with a net present value (8% discount) of $156 million, an internal rate of return of 58%, and a payback time of 4.6 years. The business has an expected free cash flow of $290 million.

expenses per ton by a 26% milled basis once the project is underway. 90% of the underground mine and mill 800 kilometers south of Windhoek are owned by the business. The last 10% is in employee empowerment and Namibian empowerment programs.

A single-stage semi-autogenous (SAG) mill and pebble crusher will be installed in the grinding circuit at the mill. Additionally, new main crusher improvements and an ore blending facility will be implemented.

Engineering work that involves a significant expenditure shall be expected to commence towards the end of this year. The construction will occur in the middle of the coming year, with the commercial

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Offices: Byron, GA Escanaba, MI Muskegon, MI Coleraine, MN Tulsa, OK Chester, PA Oshkosh, WI Green Bay, WI Rhinelander, WI www.skillings.net | 25

ALAN MITCHELL CLEGG Independent Director of Resource Companies SOUTH AFRICA

26 | SKILLINGS MINING REVIEW October 2021

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Interview with

Alan Mitchell Clegg PR.ENG PR.CPM PMP FSAIMM FIOQ F.INST.D NATURAL RESOURCES, ENERGY & BUILT ENVIRONMENT PROFESSIONAL ADVISOR BUSINESS STRATEGY; PROFESSIONAL ASSET VALUATOR

•

Mr. Clegg, with British Citizenship

resident in South Africa, is a Natural Resources & Energy Industry Professional with over 4 decades of experience gained from working natural resource development and construction projects, industries and related supply industries in more than 40 African and in total 160 countries across all the continents.

He is a registered Professional Mining Engineer (Pr.Eng), a registered Professional Construction Project Manager (Pr. CPM), a registered Project Management Professional (PMP), and carries professional Fellowship status with South African Institute of Mining & Metallurgy (FSAIMM) and the Institute of Quarrying www.skillings.net | 27

PROFILES IN MINING

(FIOQ) as well a professional memberships of many of the related Institutes globally and is a recognized natural resources technical assessment, reporting and project valuation expert with key experience in stock exchange listings and the requirements for successful private equity capital raising. Mr. Clegg has been intimately involved as Director, executive manager, team leader or member of teams that have completed feasibility studies and/or constructed on ECM, EPC or EPCM basis over 60 Major Projects across all commodities including inter alia Gold and Platinum, Infrastructure Metals, Energy Fuels, Energy Metals, Bulk Commodities, Industrial Minerals, and Dimensional Stones with a combined value in money of today in excess of US$18 Billion over the last 25 years. He has advised a number of governments on Mining Policy, Legislation & Regulation since 1990, as well as being the architect & executor of practical plans for unlocking the potential value of their natural resources base. Mr. Clegg has been Chairman of numerous high-profile Natural Resources Technical Conferences and Seminars in the industry globally, and is sitting Chairman of the African Union event, The African Mining Summit. He is also an accomplished technical author and speaker of over 40 papers and Journal Articles. Further, he has been nominated for a number of awards and prizes internationally, including for the prestigious “John Barrie Award” of the PMI (USA) Project Management Institute, for his contribution to Project Management Theory & Practice. Mr. Clegg is an active Independent Consultant and Competent Natural Resource Project Valuator to the industry globally and has an acute interest in new technologies deployment for improved return on equity and investment in general. Mr. Clegg held 8 past Board appointments, including 3 at CEO level in International and Multinational natural resource, process engineering, equipment & construction sector companies and has been active as a member and Fellow of the Institute of Directors of RSA & UK and in several other countries keeping fully up to date with highest standards for Corporate Governance in companies and has served and/or chaired numerous Board sub-committees. 28 | SKILLINGS MINING REVIEW October 2021

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profiles in mining

Q&A with

Mr. Alan M Clegg

How do you suggest can mining companies improve Energy Mix and Energy Return on Investment, both in the short run and in the long run? “The concept of Energy Return on Investment (“ERI”) is based upon the fact that all motion and action both generates and consumes energy in all its forms, i.e., Human energy, Heat energy, Kinetic energy, Electrical Energy, Mechanical Energy, etc. Unfortunately, this is poorly understood or even considered in the past and even in many, if not most, current designs for natural resource exploitation projects and mines.

the right kind and levels of investment required.

What is the best Mining & Energy integration and associated trends that you observe recently? “This very much depends on the geography and level of economic development prevailing, and is often opposed by a counter-developmental and confused regulatory environment matched and underscored by rhetoric fueled incompetent politics. This is also impacted by the maturity, degree of development, and levels of

investment being made in the Mining and Natural resources sector in any country or jurisdiction within a country, and varies greatly on a global basis. The two leading jurisdictions are clearly Canada and Australia, followed by Mexico, with some African countries such as Botswana, Namibia, Ethiopia, Eritrea, Niger, and Sudan, all moving to de-regulate, encourage and incentivize integrated investment in energy metals and energy fuels. CLEAR SPECIFIC TRENDS OBSERVED ARE;

Capital deployment focussed to capture ‘GREEN’ related mineral resources and

Therefore, Mining Companies today need to get a grip on this concept such that they can ‘integrate and optimise’ energy balancing across the human, engineering, equipment & technology, process, operations monitoring, measurement & management control systems, areas and disciplines that make up a sustainable production unit. This should be uniquely tailored for each Mineral, Metal or natural resource deposit that is planned to be exploited as it moves along the value chain, short term/early stage to longer term/execution and from, Discovery to Concept and Preliminary Economic assessment (“PEA”), to Prefeasibility, through Bankable Feasibility, to FEED (Front End Engineering Design), and Detailed Engineering with Construction, to Commissioning and ramp-up. This process will ultimately speak and report to the companies ESG (Environmental and Social Governance) policy, goals and achievement thereof, to attract

UG in Mexico (AC Right)

www.skillings.net | 29

PROFILES IN MINING

metals toward renewable energy generation and storage to offset emissions. Growing contrarian investment in Mining, Energy, Construction for ‘GREEN’ manufacturing, i.e., Battery factories, EV’s, Solar Panels, etc. Increased investment @HOME in “GREEN ECONOMY” value chain elements and technologies, including conversion and retro-fitting of existing energy industry. Increased exploration and new technology applied thereto, e.g., Artificial Intelligence (AI). Silver demand growth for Solar Panels being constrained in future by the regaining of its recognition as a precious metal and ‘Sound Money’. Palladium & Platinum repositioning as energy metals for both use in emissions control and Hydrogen Fuel cells.

AMS, now 7 years in development by organisers GRV-Global and which was described by co-host and Patron, the African Union Commissioner of Trade & Industry (AUCTI), Ambassador Albert Muchanga as an ‘Institution’ growing from strength to strength. Supported by the AU it has been designed to generate alignment and understanding between member states Ministers and

This event stands out as the true Pan-African platform for Policy debate and for mobilising the private sector within the African Mining Vision (AMV) as a ‘Blue-

Future technology trends, developing people, mining impact, corporate social responsibility, and sector legal concerns especially around ‘Mining Charters’, localisation of equity ownership, carried interests and empowerment principles are also key areas of debate and discussion between stakeholders.

ESG driven demand for ‘ethical’ Copper, Nickel and Cobalt for EV Batteries. Expanded development of mining for Vanadium (for REDOX type) Gird-Scale batteries and Manganese for new generation EV batteries. Thermal Coal for ‘base-load’ energy generation and, liquid fuels and aromatics (related with Liquid Organic Hydrogen Carrier (LOHC)) production (SADC region, India and SE Asia) Uranium will continue to grow in importance as Nuclear Power is realised more as the most ‘carbon neutral’ energy form and aligned with safer technologies for generation such as SMR’s (Small Modular Reactors).”

Please say a few words on how “The African Mining Summit” (AMS) has helped nations in the last few years. “I have had the pleasure of Chairing the

ministries of Mines and Energy and the private sector, to join these key stakeholders in Africa to engage formally in developing and shaping exploitation of Africa’s continental & coastal natural resources and related industrial profile.

Going UG @ Sierra Mojada Mexico.

30 | SKILLINGS MINING REVIEW October 2021

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profiles in mining

print for Structural Transfer of African Economies’; and that the Private Sector Compact (PSC) is under execution as a tool to facilitate dialogue to reduce and share risk created within the African Minerals Governance Framework (AMGF). Future technology trends, developing people, mining impact, corporate social responsibility, and sector legal concerns especially around ‘Mining Charters’, localisation of equity ownership, carried interests and empowerment principles are also key areas of debate and discussion between stakeholders. In conclusion, the AMS continues to offer all stakeholders and investors on the continent strong fundamentals in the business and in the progressive project developments.”

DD Team on site (AC Centre).

Throw some light on the investment levels and time required for meeting the political rhetoric around going 'GREEN', from a global perspective. “The meeting of the prevalent political rhetoric has several dimensions to it. First, are the irresponsible statements made in abandon by politicians on a global scale, mainly in the western hemisphere, of ‘Goals’ with metrics and time frames related to the roll out of ‘Green’ technologies, including inter-alia Solar PV, Wind Farms, EV’s, energy storage centres, etc., that have no basis in reality and are basically a wish list because they and their advisors simply have not done the math with respect to the raw material inputs, the related value chain with time and capital required. Second, the same politicians then with no understanding of the value chain immediately create and pass restrictive and prescriptive legislation related thereto, with no awareness or care about the consequences. I am specifically speaking of ESG and permitting requirements

and restrictions legislated on the mining and natural resource exploitation value chain from Discovery to production for the increase in raw materials that are required to meet the much-lauded Goals.” Some agencies like the World Bank, IMF, IFC and EBRD have each recently published their version of what is required in terms of investment by Governments and the numbers varied between US$1.6 Trillion to US$2 Trillion. So, this clearly indicates that the FED and the ECB with other central banks are going to be printing huge as we move forward to fund all of this and adds further certainty that MMT and the big financial reset is coming. It’s no longer an if, but a when?

What is your opinion on the following: The Red Herring that is 'Anthropogenic Climate Change' Reset of the global financial system and its potential impacts on funding for natural resources exploitation? The IPCC (Inter-Governmental Panel on www.skillings.net | 31

SURFACE PROFILESMINING IN MINING

Inspecting Old Adits on Zinc Mines, Turkey.

Inspecting Train Load-out Station.

Climate Change) was formed in 1990 as a think tank. Hypothetical assertions on Global Warming became a PseudoScience as it is based only on factors propagated and published as confirming factors, no opposites or negative evidence is considered. Western Political powers & Central Bankers saw an immediate opportunity to blame and tax humanity for its purported transgressions against itself and the world. This hypothesis became a new

Project Valuation Iron Ore Mine in Turkey (AC 2nd Right).

‘Religion’ driven by/for political gain and legal robbery of the society for something which in truth they have had little or no control over. This Religion continues with the ongoing claims in the IPCC that if we don’t stop producing CO2 the temperature will go up by 1.5 Deg C by 2030 and basically, we will all be inundated by such extremes in Weather that life as we know it will be over. Anthropogenic Climate Change impacts are massively over-stated. And it is

32 | SKILLINGS MINING REVIEW October 2021

important to state that in absolute numbers measured globally these have not increased! Also, we have recorded dryer areas becoming wetter, deserts greening positively (due to CO2 levels), etc. THE REALITIES ARE;

Can we expect climate change to continue, Yes! Is rising CO2 levels an existential threat, No! Are noxious gas emissions, like CO,

PiM

profiles in mining

NO, SO2, etc. Locally and regionally in the Industrial focal points, mainly in the Northern Hemisphere, Yes! Can they be cleaned up using new combustion technologies, dilution and capture for economic use, very likely Yes! Is physical pollution from Plastics and other organic and inorganic wastes a serious threat, Yes! Can we clean it up using technologies and producing useful Hydrogen, Yes! Are rising sea levels a threat, No! Because the land masses are sinking and rising naturally as the continental plates move and in reality, it has very little to do with Ice Caps melting! Impacts from this will be extremely localised and happen over very long periods of time to allow action to be considered, generally. Of course instantaneous sinking, or rising, or collapse can occur in extreme geological events like earthquakes. But these are ‘Natural’ not ‘Anthropological’ events!

Inspecting Drill Holes in Turkey (AC Kneeling).

drop by 35 deg C!? D. Why are sovereign governments issuing 50, 75 and even 100-year treasury bonds!?

Because it’s all a fraud and a ruse, the greatest perpetrated on humanity of the last century. If it were factual and ‘Truth’, none of the above would occur.

This brings us to Project generation and funding by bankers and institutions. The question that needs to be posed is; If Climate change is such a big issue and we are staring the end of humanity as we know it in the face inside 20 years, then; A. Why doesn’t a single founding Project Charter or Investment Prospectus mention as a key risk for investors Global warming or Climate change? B. Why are banks still issuing 30 and 40-year mortgage bonds to private citizens and businesses to build coastal properties (at sea level!)? C. Why are institutional funds investing billions in 50-year visions for infrastructure and ‘green’ solar energy projects when the ozone layer will be gone and the earth temperature will www.skillings.net | 33

SPECIAL FOCUS

Lithium mining taking place in Salar de Uyuni, Bolivia. The salar is the world's largest salt flat, at 4,086 square miles (Image: Alamy)

34 | SKILLINGS MINING REVIEW October 2021

Want to Avoid Lithium Stock Crisis, but is there still time?

Demand for lithium is expected to increase substantially over

the next two decades, rising from 345,000 tons in 2020 to over 2 million tons in 2030. When it comes to the next decade, the most challenging and exciting issue confronting the lithium business is identifying the opportunities to quadruple the production!

www.skillings.net | 35

SPECIAL FOCUS

ithium demand is rising steadily and consistently, and there is no going back. Demand for electric vehicles (EVs) will further push the lithium industry in that upward direction; it is predicted that by 2025, EVs will comprise 15% of the automotive market, and we believe that figure will grow to 35% quickly by the end of 2030. In addition, the increasing application and infrastructure requirements include ESS, 5G devices, and IoT infrastructure, do nothing but add to this lithium call. The International Energy Agency predicts that this mineral demand for usage in electric vehicles and battery storage would rise by at least 30-folds to achieve climate objectives by the year 2040. Is it possible to maintain supply? With the recent developments in the industry, we've gotten a glimpse of imminent supply constraints that are expected to set the stage in 2025. We don’t believe this is a story of looming, acute shortages – yet. Yes, rapidly growing demand will test the market’s ability to expand supply and reduce lead times. But we believe the market will ultimately respond. Nevertheless, this is not a story of approaching acute shortages yet! Yes, rapidly growing demand will put the market to trial, testing whether the market is capable of increasing supply and plummeting the response times. However, we do believe the market will respond victoriously and satisfactorily soon.

LITHIUM FOR EVS

A lot hangs in the balance for the next two to three years, during which there will be a surplus of forecasts and opinions, and participants will be forced to distinguish between significant signals and noise. Let us examine the demand drivers, potential

Lithium demand is driven mainly by electric vehicle (EV) sales. This is a primary factor because EV sales are projected to rise at a pace of 40% annually (compound annual growth rate) until 2025 when EV penetration shall reach an estimated 15%.

sources of supply, and the most relevant market signals to monitor.

36 | SKILLINGS MINING REVIEW October 2021

To meet the $100/kWh target, automakers are exploring diverse battery solutions, targeting drivetrain output, and in so doing, chasing various levels of efficiency. Tesla has made a no-cobalt battery announcement. VW introduced LFP batteries and high-manganese batteries. The Hydrogen-powered Hyundai EV is already available for order.

And this is what makes the supply centerstage! SUPPLY SOURCES FOR LITHIUM

The combined deposits of the lithium triangle and Australia were expected to provide 345,000 tons of processed lithium in 2020, which was successfully achieved. Recent disruptions in production have taken place during the last year to a year and a half! Covid-19 limitations in Argentina and low pricing in 2019 and 2020 have increased the burden on existing supply and curtailed future supply development by hindering the involved projects. However, production is projected to rise gradually to about 1.03 million tons in 2025 and 2 million tons in 2030, regardless of what happens in 2020.

existed earlier are now reduced. This removal of restrictions shall, in turn, help reduce labor shortages. Based on current mining capacity, we anticipate existing mines to return to total production by the end of 2022, if not sooner. BRINE CAPACITY OPTIMIZATION

Additional brine capacity is being invested in: SQM and Albemarle will provide a significant proportion of the increased supply. SQM will grow from 70kt in 2020, to rise until the end of 2021 to about 120kt, when it tops out at 180kt by 2023. By the end of 2021, Albemarle will have increased its capacity by 40 kilotons. We also anticipate seeing about 300,000 tons of additional capacity come online by 2025, mainly from new projects and manufacturers.

LESSER PRODUCTION OBSTACLES

MINES RESUME FROM MAINTENANCE PHASE

Reactivating production to combat high pricing and strong demand is now felt. Travel limitations from Covid-19 that

In 2019 and during the first part of 2020, a general economic slowdown restricted investment in constructing supplies. As

Ignoring the fleet-level or model-level choices, most batteries will include 700800 grams of (LCE) per kWh for the short to mid-term and then focus on lithium as soon as the market looks for solid-state batteries in the long term. Therefore, because of its essential role in the production of cars, lithium will remain crucial to auto manufacturers for some time to come. www.skillings.net | 37

SPECIAL FOCUS

a result, Wodgina Mine, Altura Metals, and Alita Resources placed their mines in a care and maintenance approach. This was done to scale back the output. Other companies had to cut down their production levels. These mines are now scheduled to be back in operation and thus production by the end of 2021, which may extend up to the year 2022 for a complete resume. Expansions shall be added, along with a few additional new operations in this regard, as soon as possible. The pipeline is also gathering up, as projects that are ready to start construction are receiving funding for their final investment choices. AUSTRALIAN HARD ROCK DEVELOPMENT WILL INCREASE THE SUPPLY

Lithium processing capacity is expanding, and new mines are coming online. With lithium prices above $13,000 per ton, we may expect to see an increase in hard rock output in Western Australia, as both hard rock and brine seem profitable at the moment. CURRENT SUPPLY TO BE HELPED WITH GLOBAL SUPPLY – DELAYED OR UNDELAYED!

There is a good chance global supply will be established in several places across the world, including the UK, Portugal, Germany, Canada, and the US. Until far, the world's local lithium resources were not felt necessary, but now they are.

Tahua, Bolivia. Salt miners load a truck with lithium-rich salt. The ground beneath Bolivia’s salt flats are thought to contain the world’s largest reserves of the metal. (The Bolivian Andes may contain 70 per cent of the planet’s lithium.) Many analysts argue that extracting lithium from brine is more environmentally friendly than from rock. However, as demand increases, companies might resort to removing lithium from the brine by heating it up, which is more energy intensive.MATJAŽ KRIVIC/ INSTITUTE

It seems that governments have been awoken by the fact that electric power is progressing quicker than anticipated, and they're now concerned about having to depend on other trade blocs to provide this critical raw resource. The completion of supply chain logistics work would definitely take some time as several policies, and logistical issues shall be addressed, including concerns about

Salar de Uyuni, Bolivia. Brine is pumped out of a nearby lake into a series of evaporation ponds and left for 12 to 18 months. Various salts crystallise at different times as the solution becomes more concentrated. It is also treated with lime to remove traces of magnesium. When the minerals are ready for processing, they are taken to the nearby Planta Li lithium factory to produce the ions that will go into batteries. In 2017, the factory produced 20 tonnes of lithium carbonateMATJAŽ KRIVIC/ INSTITUTE

38 | SKILLINGS MINING REVIEW October 2021

lithium very competently! In the end, it's not about having enough lithium in source, but if increased investment, better techniques, and a stronger belief in the market will boost worldwide lithium supplies to 2 million tons by 2030. Although we believe it is possible, we must convince both planners and investors that they can distinguish good investment ideas from bad over the next two to three years. ANALYZING THE MARKET AND PRICE TRENDS

Lithium, the primary commodity underpinning the lithium market, has simple fundamental supply and demand characteristics. Cascading and persistent demand will put increased pressure on supplies during the next three decades, that is, by 2030. A narrative has two main parts: From 2025 to 2030, additional supply sources must be online to satisfy demand.

local environmental problems that can sometimes be considered to be competing with ESG considerations driving the effort to shorten supply chains to help minimize the carbon footprint of lithium (and EVS). So until the year 2025, we may still see roadblocks; however, by 2030, it must start fueling growth as the local supply system would be well in place by then. LOWER TIME-TO-MARKET WITH DIRECT LITHIUM EXTRACTION (DLE)

Lithium supply is limited not just by how much lithium is available but also by the time required to get lithium batteries to the point where they can be used in the market. In our opinion, hard rock lithium will be more widely mined, DLE's influence on brine times will speed up, and extraction

of other kinds of ore bodies, such as clays, will bring faster supply to the market. A LONG-TERM CIRCULAR ECONOMY TO PROVIDE SUPPLIES FOR THE NEXT 7-10 YEARS WILL BE BUILT THROUGH RECYCLING

Recycling is almost non-existent when it comes to supplies. However, the prevalence of commercial opportunities and government regulation, like the EU's Battery Regulation Proposal (a draft of which is expected in January 2022), will speed up the recycling industry. However, even if the battery life of EVs may be ten years, they are still at risk, as that happens in electronics upgrades. Consumers like to upgrade sooner to keep in pace with the tech inventions, creating a broad recycling base that will, in time, feed the circular economy for

After 2025, how much fresh supply will come into the market depends on how much time passes after 2025. The immediate 2 to 3 years shall be the most critical. Deciding on the best possible action in a market that is loud and opaque and everchanging, too, is difficult. The urgent need is to be able to access and understand various market signals to make sense of the market. PRICE SIGNALS: SPOT MARKETS HIGHLIGHT HIDDEN MARKET INTERWEAVES

The Chinese internal local market is usually the primary to react to fluctuating supply and demand, next in line by cif prices for China, Japan, and South Korea. However, there is a widening gap between the long-term contract prices and the spot market prices because many www.skillings.net | 39

SPECIAL FOCUS

contracts have additional pricing elements built into them. Producers who are in long-term contrast fear losing out on the advantages of increasing lithium prices because of an increase in the number of electric vehicles on the road. Locking up oneself in contracts for such lengthy durations takes away potential gains for shareholders that exist in the current present. So there must be some way out for shareholders to also gain from the current lithium trends. MARKET SIGNALS: UNRAVELLING NOISE AND SIGNAL

In every market, context needs to be considered, like market context, location context, and historical background. In the 21st century, companies will face two significant challenges: being able to access all forms of information from across the world and then being able to acquire context to comprehend what anyone occurrence means and whether or how to respond. It will be essential to learn more about projects than just project insights, understanding how long it will take and how much will be produced. HEDGING SIGNALS: THE CME AND LME LITHIUM CONTRACTS

The newly launched futures contracts from the London Metal Exchange and CME Group eliminate obstacles to participation in a rapidly expanding industry by lowering the risk of price volatility.

New initiatives are often met with current political, environmental, social, and cultural difficulties. Policies and their effect must be understood by players for players to know whether and how to react.

POLICY SIGNALS: LOW CARBON ROUTE

THE FUTURE

All governments—local, national, and international—play a critical role in determining the long-term policy that impacts the lithium market. When supplies are constrained, the propensity for countries to engage in a "resource nationalism" increases.

Rising worldwide demand for lithium is anticipated that will keep supply under strain far into the 2030s and perhaps even beyond. Strategic deficits about lithium are comprehensible, but we think that a

40 | SKILLINGS MINING REVIEW October 2021

continuous wave of investment combined with long-term investment and sound policy will enable us to unleash many new lithium deposits worldwide, which is also aligned with the low carbon footprint objectives of each country. Lithium market demand has increased and will remain high over the next few years. Current and future market players need signals that are clear and unambiguous so that they may implement effective plans. This aids the development of the whole lithium industry.

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SURFACE MINING

How ‘Automation’ Made America Work Harder COMPUTERS – used for smart jobs over hard jobs cutting

down on office toil – achieved the other way around! A paradigm shift! The McKinsey & Company consultancy forecasted in 2018, in a full-color, 141-page study, that automation is ushering in a revolution.

he frequency with which executives in business, and those who run technology giants and write about these businesses, have declared the arrival of a new epoch in history. Robots and artificial intelligence are anticipated to create many, if not most, of today's

workforce out of work. Or, according to these experts, our society is teetering on the edge of chaos, only to be reconstituted again. When they saw the most recent report from the U.S. Department of Labor's Bureau of Labor Statistics (BLS), they must have been shocked to see that this prediction has been debunked.

42 | SKILLINGS MINING REVIEW October 2021

As was noted, between 2005 and 2018, the United States experienced a stunning decline in worker productivity; average growth 60% lower than the overall average from 1998 to 2004. Interesting to note is, machines must have driven increased worker productivity, not lead to a stagnant workforce! In contrast to management consultants and researchers, the Bureau of Labor Statistics is usually reserved in its judgments. But this time, the researchers found an inevitable economic consequence of the last 20 years….an enormous setback to the bright idea that we've now stepped into an era of automation and smart work calling for better technological growth and progress. The absurdity of underemployment plus unemployment, co-existing

with overworking, occurs in the majority of the population. In the past in the United States, this has accompanied all public debates of "automation," the contention that machines will eventually supplant human work. In the middle of the 20th century, automotive and computer industry managers often used "automation" as a euphemism to refer to new and exciting technical advances. In reality, however, “Automation” was an ideological creation, one that has done nothing to help labor. The concept of “automation” has, from its very start, described not the replacement of employees, but the structured pressing of them! So because of this, what employers term “automation” has continued to make life more challenging and unappreciated for Americans. A new technology described as “automation” has been utilized by employers to degrade, increase, and speed up human work.

most clerical processes had been built, considering the range of human limitations. He assured bosses of a new generation of offices where computers would allow workers to move away from human limitations by doing paperwork more quickly and consistently. Office bosses of that era found this message intriguing—even if it was based on assumptions about sheer calculating capacity and flawless mechanical assistants, neither of which were “can’t do without them” to their work environment! Nevertheless, they were thinking of unionization. An unprecedented number of less salary clerical employees were brought on to staff U.S. offices after World War II. The United States became a worldwide superpower (whom employers could manage with less pay thanks to the sexist norms in the workplace). The clerical workers almost doubled between 1947 and 1956, from 4.5 million to 9 million individuals. The percentage of female

They've used new technologies to hide the fact that crucial human labor is still there (such as self-service cash registers or automated answering systems, where customers do tasks like answering the phone themselves). When one autoworker claimed in the 1950s that automation is a synonym for more work and more minor jobs, a second noted that automation would not mean less work. On the contrary, it will be more work, including man serving the machine at much higher operation speeds! Automation poses as much danger as it offers hope. The advent of the computer best shows it! Digital computers developed during World War II were used to create the first programmable electronic digital computers to crack Nazi codes. For the most part, computers remained linked with advanced research and cutting-edge engineering until the early 1950s, working on making atomic bombs! It was far from clear how a business could earn money with an electronic digital computer at that time. Computers offered companies nothing at all; instead, the industry was more concerned with padding their earnings than deciphering adversary ciphers. In the hope of building a computer industry to profit from it, management theorists had to develop a market where none previously existed. Such a name on the list is John Diebold, whose book “Automation” in 1952 popularized the word “automation” and demonstrated that the electronic digital computer could handle information. The Diebold Corporation stated that

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SURFACE MINING

wage earners who were clerical workers increased to 20% by the mid-1940s. Even small businesses have been impacted by the rise in low-wage clerical work in the office suite. In addition, the number of payrolls was rising, and offices progressively looked more like a factory floor than a refuge for managers. There was an uptick in complaints about workplace restlessness. Therefore, in white-collar work, in the business consultancy reports, with titles such as "White-Collar Restiveness—a Growing Challenge," they purchased computers hoping that they might "automate" office labor and put an end to all such problems or future threats. While they would have liked for computers to decrease the number of clerical employees needed to keep an office viable, it just didn't happen. Until the 1980s, the number of clerical employees in the U.S. and the quantity of paperwork increased. He said that computers in the workplace increased paperwork, which resulted in a record-breaking number of clerks and key-punch operators. While computers could process information rapidly, data entry was still performed by human hands using keypunch machines. Data that was keypunched was then inputted into a machine for processing in machine-readable format by human labor once again. Still, the management was unable to do away with the need for human labor in office work. So they resorted back to what they had done since the beginning of the Industrial Revolution: they put machines in place to minimize jobs for human employees to save money by making workers' employment more dispensable and also more mechanical, in turn less paid!

Also known as "scientific management," employers back in the 20th century recommended and timed workers' movements at their machines to the hundredth of a second, all in the name of efficiency. So, where they referred to the practice as “automation” and instead of saving human labor, the electronic digital computer sped it up and increased its intensity, at the same time, according to one insurance company administrative worker, “Everything is moving at such a quick pace now!” Describing such a typical scenario, Mary Roberge, who worked for a significant Massachusetts insurance firm in the

44 | SKILLINGS MINING REVIEW October 2021

1950s, said the firm provided 20 female clerical employees for every male senior in her workplace. The clerical staff known as the Card Punchers punched, stamped, and refiled the never-ending pile of IBM cards every day. There were no breaks throughout the day. Therefore there were very retrained and guarded bathroom and coffee breaks. More and more American businesses replaced professional, well-paid secretarial positions with lower-skilled, lower-paid clerical ones. Of the individuals who worked with computers in the 1950s and 1960s, three out of five were low compensated administrative support employees working on the digital computer.

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Although it was apparent, managers of companies and computer makers alike said that no one was doing the job and that the computer was solely responsible for everything. Those administrative tasks were becoming “automated” to achieve their agenda of less pay and more work from the human workforce! One IBM advertisement took it so far to claim that IBM machines could work competently replacing humans, giving them time to think! It sounded pleasant to the ear in fancy words but was a cut-throat for many workers caught in this situation. Machines should do their functions, but humans should retain their original thought. The only thing it did was it sounded charming! The American workplace defined “automation” as the process of having more and more humans compelled to operate like machines. Often, this made it possible for companies to recruit fewer employees because of sectors like car manufacturing, coal mining, and meatpacking, where one

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STATISTICS

AUGUST 2021 CRUDE STEEL PRODUCTION

orld crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.8 million tonnes (Mt) in August 2021, a 1.4% decrease compared to August 2020. CRUDE STEEL PRODUCTION BY REGION

Africa produced 1.3 Mt in August 2021, up 38.2% on August 2020. Asia and Oceania produced 112.7 Mt, down 7.3%. The CIS produced 8.8 Mt, up 3.6%. The EU (27) produced 11.6 Mt, up 27.1%. Europe, Other produced 4.5 Mt, up 11.7%. The Middle East produced 3.6 Mt, up 10.9%. North America produced 10.2 Mt, up 24.4%. South America produced 4.0 Mt, up 17.2%. 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 and countries covered by the table: Africa, Asia and Oceania, CIS, European Union (27), Middle East, North America, South America.

China produced 83.2 Mt in August 2021, down 13.2% on August 2020. India produced 9.9 Mt, up 8.2%. Japan produced 7.9 Mt, up 22.9%. The United States produced 7.5 Mt, up 26.8%. Russia is estimated to have produced 6.3 Mt,

Table 1. Crude steel production by region Aug 2021 (Mt) Africa

1.3

% change Aug 21/20 38.2

Table 2. Top 10 steel-producing countries

Jan-Aug 2021 (Mt) 10.6

% change Jan-Aug 21/20

% change Aug 21/20

Jan-Aug 21 (Mt)

% change Jan-Aug 21/20

China

83.2

-13.2

733.0

5.3

India

9.9

8.2

77.7

25.6

Japan

7.9

22.9

64.0

17.0

-7.3

966.3

8.5

CIS

8.8

3.6

70.9

7.7

EU (27)

11.6

27.1

102.1

20.5

Europe, Other

4.5

11.7

33.9

15.5

Middle East

3.6

10.9

29.0

10.1

North America

10.2

24.4

78.8

19.2

South America

4.0

17.2

30.3

24.9

156.8

-1.4

1,321.9

10.6

Total 64 countries

Aug 2021 (Mt)

30.3

112.7

Asia and Oceania

up 4.4%. South Korea is estimated to have produced 6.1 Mt, up 6.2%. Germany is estimated to have produced 3.0 Mt, up 6.7%. Turkey produced 3.5 Mt, up 7.1%. Brazil produced 3.1 Mt, up 14.1%. Iran is estimated to have produced 2.5 Mt, up 8.7%.

United States

7.5

26.8

57.1

19.5

Russia

e 6.3

4.4

50.8

7.7

South Korea

e 6.1

6.2

47.5

8.4

Germany

e 3.0

6.7

26.7

17.4

3.5

7.1

26.6

16.7

3.1

14.1

24.1

20.9

e 2.5

8.7

20.4

9.7

Turkey Brazil Iran

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 October 2021

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

-6.3

485

-14.3

Croatia

15 e

101.9

-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

13.5

1 126

-15.5

17.0

1 430

5.9

Ecuador

50 e

0.5

477

-21.5

164

-44.8

1 513

-14.5

Paraguay

3 e

-4.4

-17.5

1 404

6.9

20 200

-12.9

Peru

105 e

15.8

671

-45.4

Uruguay

5 e

-7.2

-24.6

Venezuela

2 e

315.8

-43.6

3 654

3 143

16.3

38 158

-8.4

Egypt

994

574

73.0

8 229

13.4

Libya

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

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

3.8

586

-12.2

533

506

5.2

6 076

-1.4

Greece Hungary Italy

110 e 90 1 500 e

Luxembourg

113

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

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

6.5

759

-5.2

Macedonia

35.9

180

-24.8

Norway

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

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

-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

-8.5

181

-21.4

El Salvador

8 e

-5.7

-22.5

Guatemala

25 e

-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

Skillings Mining Review October 2021

Articles inside

August 2021 crude steel production

How ‘Automation’ Made America Work Harder

Want to Avoid Lithium Stock Crisis, but is there still time?

Interview with Alan Mitchell Clegg. Independent Director of Resource Companies, South Africa

Afghanistan faces some huge chal lenges to knock its mineral resource abundance

Komatsu Vale Partnership Mining Breakthrough

Will Automation Help You Out from Not So Interesting Work Compo- nents?

Automation Expertise Enricher for Mines

Bowen: Bring Around Burton Coal Mine

Ampcontrol & PPK Mining Equipment ally to deliver EVs for subterranean coal

Underground mining equipment market to gain momentum by 2017-2025