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Many of the women described the discrimination they faced in entering particular jobs or progressing their careers, with several mentioning superstitions that even recently prevented women from working underground. On the day this blog was written, the S&P Global Platts IODEX 62% Fe benchmark stood at $160.70/mt CFR China, 70% higher on the year before. A more careful and diligent approach to developing and expanding iron ore mines could see longer project timelines. Metals & Mining Review is one of the topmost business and technology magazine in the Metals & Mining industry which shares the latest technology news, articles and trends in Metals & Mining Field. While quotas seem to have limited appeal, a number of the interviewees talked about the importance of measurable targets and comprehensive training, including in unconscious bias awareness. So much for low prices! Manufacturing has recovered strongly in recent months and global supply chains have been restored, helping China’s exports to resume. In 2019, China produced 996 million mt of crude steel and this year the 1 billion mt mark will be breached. The process at Trelavour could also allow production of caesium and rubidium, which were on the US critical materials list, and could be used in the 5G network and other areas, he said. Members of the Candelaria AOS union voted to accept the latest offer from management on November 19, ending a […] The IODEX 62% Fe physical price on Dec. 11 rose to $160.70/dmt, a new multi-year high, while the forward curve midpoint delivery window value on the day was $158.09/dmt, according to Platts calculations. Given the recovery in other steel markets, China’s finished steel exports are tipped to increase next year. Bill Matlack Tuesday December 15, 2020 15:25. The 1.63% spread on Dec. 11 with the forward midpoint was the narrowest to the physical spot price since January. In the last four years, it has managed to raise the overall proportion from 17.6% to 24.5%. Meanwhile, Trump administration policy objectives that could fuel domestic demand for metals, such as an infrastructure program, have yet to manifest. For the first time since the Outlooks began in late 2019, a sizeable number (32%) of respondents said manufacturing would play a bigger role for demand in 2021. “I can understand why quotas and metrics are put in place, but more is needed to drive the right change in behavior for the long-term,” said World Coal Association CEO Michelle Manook, adding that more is needed in terms of alignment across corporate strategy, culture and leadership. One of these projects is the ‘Mining and Metals Blockchain’ initiative, a new project designed to “more accurately trace emissions across the value chain using distributed ledger technology” according to a WEF news release. These can include weather events and environmental factors, operational outages and disasters, government policy changes (especially in China)—and heavens above, a global pandemic. There’s not much point building ambitious volumes into a supply-demand model when companies keep missing their current year targets. S&P Global Platts Asian Steel Markets Editor Ashima Tyagi discusses these issues and more with Head of APAC Metal Insights Paul Bartholomew. From laws preventing women working in specific jobs, to stereotyping of gender roles and abilities, historically the metals and mining sectors were inhospitable environments for women to enter and progress careers. Despite its increasing sophistication—automated logistics, use of big data, control centers 1,500 km away from the mine site, etc—mining is still essentially about digging holes and transporting material on trains and ships; there are many things that can go wrong along the supply chain. While Cornish Lithium advances development of Trelavour, Wrathall said it would continue in parallel with its project to extract lithium from its geothermal water project in Cornwall. In December, the Brazilian company downgraded its 2020 target from 310 million-330 million mt to 300 million-305 million mt. Vice Chairman, Metals & Mining. Collectively, their careers span almost every continent and a wide variety of roles and products. Most participants saw exports at 60 million-80 million mt in 2021, while only 12% saw them higher than this level. Taken together, these drivers point to upward support rather than downward pressure in the iron ore market, in the short-to-medium term at least. “When I visited China back in 2003. The technologies will allow for the development of low-carbon extraction of lithium from zinnwaldite and polylithionite mica ores in the St Austell region. In fact, from practically the time your blogger started covering the iron ore and steel industry—from Shanghai in May 2008, the month of Fortescue Metals Group’s inaugural shipment—he was told: “Don’t get excited by all the hype now, there will be a massive oversupply in a few years. Long overdue change is now happening in the industry, but there is still much work to be done, thirteen exceptional female leaders told S&P Global Platts. Newmont chair of the board of directors, Noreen Doyle, noted the importance of providing well-fitting protective clothing so that women feel part of the team, while Moore praised initiatives in Papua New Guinea to regularly assess risks and hazards to women in mines, and conduct annual audits to make sure women are safe. NEW YORK, Dec. 4, 2020 /PRNewswire/ -- Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Metals and Mining … Metals Headlines PRECIOUS-Gold climbs on U.S. stimulus hopes post Fed statement Gold rose on Wednesday on prospects for more stimulus measures after the … Granted, there is always a crystal ball element to price forecasting. Many were skeptical (including this author) when Rio Tinto and BHP routinely trotted out the view a few years back that China would produce 1 billion mt of crude steel by 2025-2030. They discussed their motivations for working in metals. China’s central government has tried to contain house price rises by tightening credit conditions. Australian and Brazilian expansions, accompanied by millions of new tons from Africa, will swamp the market; scrap will increasingly displace iron ore; and prices will return to their historically low levels.”. They also stand as examples of what is possible in sometimes extremely challenging circumstances, suggesting even greater possibilities if the current barriers to working in the industry continue to be steadily demolished. Investors back overhaul of Australian mining sector following caves inquiry Wed, Dec 9th 2020 JPMorgan says gold will suffer as institutional investors buy into bitcoin Cornish Lithium said Dec. 7 the tests were carried out using fellow lithium explorer Lepidico’s proprietary technology on samples obtained during a hard rock drilling program this […]. The party was over! Even today, 60 economies have at least one restriction on women working in mining, according to a 2020 World Bank report. SASKATOON, SK – December 10, 2020 – Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company"), announces that it has commenced dewatering and decline rehabilitation activities at the Company’s underground placer gold project at Wingdam in the Cariboo Mining District of south-central British Columbia. The demand side of iron ore will remain extremely strong – and it won’t just be coming from China (see below). Mining news and research that's as smart as you. RF reduced gold production in January-September by 0.6% - Union of Gold Producers. 16/12/2020 - 16:27. Some analysts feel iron ore prices have been spurred on by recent speculative demand, and stronger trade in derivatives around changes in forward iron ore supply and economic policies that may support steel demand. Mobile App Our Services News publishing, tag articles Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411 Gain vital insights into the metals supply chain, commodity market and the latest mining developments. It would be hysterical to say such an important industry is in the “last chance saloon” with investors—but the fate of outgoing Rio Tinto CEO JS Jacques shows the level of scrutiny the sector is now under. Recent positive moves to achieve equal opportunities in the sector are also plentiful. When Chinese steel output seemed to go into reverse from 2014, the view was that Chinese steel consumption and output had peaked. Platts spoke to 30 companies for the Outlook over Dec. 7-11, comprising Chinese mills, domestic and international traders and mining companies. With India’s domestic steel prices touching decade high numbers, steelmakers have exited the export markets for good. Opinion 14 October 2020 Metals and mining: an industry at a crossroads; Opinion 19 June 2020 Metals and mining: who gets hit hardest by an economic slump? The investment portfolio of the trust includes equity securities of metals and minerals mining and exploration issuers." The company already has over 50% female representation on its board of directors. But planned capacity and actual production are two different things. Cornish Lithium said it had acquired a license for Lepidico’s technology and had also signed a collaboration agreement with Lepidico to further develop them. Mining Weekly covers real-time news on mining projects across a range of minerals including gold, platinum, diamonds, copper and ferrous metals. Platts expects Chinese steel production to keep growing at 1%-2% in the next couple of years. News and opinion on metals used in electric vehicle and energy storage batteries including cobalt, vanadium, lithium, graphite and nickel. Metals & Mining The latest in metals & mining industry news from MarketWatch. METALS AND MINING NEWS. Based on both actively participating companies and publically available information, in 2019 only 40 out of 88 companies in the sector had a board diversity policy that included gender factors.*. London — Iron ore prices have risen to unsustainable levels supported by stronger futures pricing, according to steel mills who are enjoying high spot steel prices as they recover output from earlier this year. Even the most sophisticated “all-singing, all dancing” supply-demand model cannot account for a myriad of imponderables. Wrathall said the company had identified a former china clay processing site connected to the coast by rail that Cornish Lithium should be able to get control of over in the next year for the production plant. These can include weather events and environmental factors, operational outages and disasters, government policy changes (especially in China)—and heavens above, a global pandemic. Interviewees highlighted the need for diversity policies to be comprehensive, covering not only gender but also ethnicity and national diversity, LGBTQ+ representation and issues of social mobility, disability and mental health. In fact, Rio Tinto and BHP have both flagged maintenance work in calendar Q4 as being likely to impact iron ore production. As such, housing sector growth is expected to be flatter in 2021. Russia reduced exports of non-ferrous metals in January-October. This year, China looks on track to export around 54 million mt of steel, compared with 75 million mt in 2019. BHP will launch its new South Flank operation in 2021 that will replace the 80 million mt/year Yandi mine. Granted, there is always a […]. India’s Tata Steel aims to have 25% women in its workforce by 2025, compared with 17% currently, according to its latest annual report. Some 62% of participants said iron ore prices would remain above $120/mt CFR China in Q1, with a further 26% seeing them in the $110-$120/mt range. “This potentially gives the UK security of supply.”. In other words, a lot of tons of iron ore depend on successful tie-in work, commissioning and ramp-up of new projects. Given the way the market often freaks out (like right now) at any potential supply shortage, any announced delays could see prices spike. As part of the MMBI initiative, the companies will pool resources and cost, as well as improve industry-wide trust, which cannot be achieved by acting individually. Further, the iron ore hubs of Australia and Brazil happen to be located in regions that suffer cyclones and heavy rains every year. In 2019, out of 66 companies belonging to the steel or metals and mining sectors that provided information on their workforce gender split, total female participation ranged from 3% to 29%. Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in … Dec 10, 2020 Omineca Announces the Commencement of Dewatering at Wingdam. Listen: Are high Indian steel prices an outcome of supply shock or is a demand revival a reality? The investment objective of the company is to provide long-term capital appreciation and monthly cash distributions. 16/12/2020 - 18:20. Santiago, Chile — Lundin Mining is assessing the feasibility of a restart of operations at its Candelaria copper mine in northern Chile after workers voted to end a month-long strike at the operation, the company said. As the industry continues to adapt and respond to the COVID-19 pandemic, thought leadership, market transparency, and a forum to network all have become more critical than ever. Opinion 15 December 2020 Faster decarbonisation and mining: a crisis of confidence or capital? BHP in 2016 set a goal to achieve 50% female participation across its workforce by 2025. Just 23% saw their iron ore needs declining in Q1, the Outlook found. While the raw figures show there is still a way to go to achieve gender parity in metals and mining companies, momentum appears to be building, and the growing importance of ESG to investors is also likely to help speed up progress. In the meantime, established mills such as Vietnam’s Hoa Phat are adding blast furnaces. While relatively few of the companies surveyed volunteered private information on their executive remuneration ratios, based on the 20 that did respond, on average male executives across the two sectors earned 21% more than females. 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