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  1. 6 hrs ago

    Anglo strikes year-long iron-ore deal with China's State buyer

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Anglo American has struck a yearlong supply deal with China's State-backed iron-ore buyer, joining BHP Group among miners that have finalised an agreement with the group. South African producer Kumba Iron-ore, part of Anglo American, reached a deal with China Mineral Resources Group Co to supply iron-ore to its mills from April 1 this year until March 31, 2027, according to a person familiar with the matter. The agreement doesn't include-ore from Anglo's Minas-Rio project in Brazil, which is not sold to China on a long-term contract basis, said the person, who didn't want to be named discussing confidential information. The world's biggest iron-ore miners, including BHP and now Fortescue, have faced a harder time reaching a deal with the Chinese buyer group due to their large portfolios of ore. CMRG represents more than half of China's steelmakers in procurement negotiations with global miners. Kumba confirmed to analysts on an earnings call in late July that it had reached an agreement with CMRG, without giving details about the length or the terms. Its-ore is a premium product with a higher iron content, of which around 37 million tons was sold in 2025, according to the company's results. Anglo's global head of sales and trading, Ebrahim Dadoo, told analysts on the call the company sells around 54% of its output into China. It also has volumes going into the country via spot sales and non-CMRG long-term contracts, so the volumes under the CMRG contract are "fairly small on our overall portfolio," he said. Bloomberg calculations put the potential volume of Kumba iron-ore going to CMRG at around 8 to 10 million tons based on confirmed sales, estimated spot sales, and the reported number of CMRG member mills. A spokesperson for Anglo American declined to comment further. CMRG didn't immediately respond to a request. "We've had very constructive engagements with CMRG, we've got an agreement in place with them as of the first of April, and that does impact our products that we sell to CMRG member mills," Dadoo said in a transcript of the call dated July 28. BHP faced restrictions and months of talks before it was able to agree to a yearlong deal with more yuan pricing, while FMG is currently in the midst of tense negotiations. The next hurdle is what happens when the deals come up for renewal next year, and whether CMRG will try to eke out more concessions.

  2. 9 hrs ago

    Duke University, UCT make tangible investment recommendations ahead of lithium, rare earths boom

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. A first-of-its-kind report from researchers at Duke University and the University of Cape Town (UCT) has mapped the most credible research and development opportunities for lithium and rare earth processing, with the researchers offering recommendations to countries and companies in the Global South that are trying to go beyond mining to expand their processing capability. The report helps to inform the global collaborative platform that is the Council for Critical Minerals Development in the Global South that was created in response to the anticipated rises in commodity demands for lithium and rare earths, among others. The International Energy Agency (IEA) predicts that meeting climate targets requires an eight-fold rise in lithium demand and a doubling of magnet rare earth demand by 2040 but says the binding constraint is not getting the resources out of the ground, but the midstream processing stages - where China currently controls between 60% and 70% of lithium conversion and more than 85% of rare earths seperation. Many Global South countries and companies within them are trying to expand their processing capability of these elements, yet many of the actors lack the understanding of the latest research, development and innovation in critical mineral processing, Duke and UCT finds. The organisations recommend that companies making strategic decisions on where to invest in critical mineral processing should concentrate on five priorities: capturing value at the processing chokepoint, targeting the pilot-to-demonstration stage, investing in new technologies beyond tradition evaporation ponds in lithium's case, prioritising the energy and carbon cost of conversion, also in lithium's case, and treating seperation and recycling as important priorities in the case of rare earths. Duke and UCT expand on these points by explaining that mining a lithium deposit or rare earth resource without securing downstream conversion, separation, or refining capacity leaves most of the margin and strategic leverage with whoever controls the midstream. "Because these value chains are concentrated rather than truly global, chokepoint participation is best treated as an entry point toward broader integration across adjacent stages of the chain, not as an end state. This requires identifying and committing to specific processing partnerships or in-country conversion investments at the project development stage, well before financial close," the report states. Additionally, the most commercially credible innovations across the lithium and rare earth chains - direct lithium extraction (DLE), lower-temperature spodumene roasting, and continuous rare earth ion exchange - currently sit at technology readiness levels of 5 to 7, which are the stages where capital availability, not technical uncertainty, is the main constraint. UCT and Duke say financing instruments differ by stage, with pilot plants needing equity and grant capital, while demonstration and first commercial units need offtake commitments and debt guarantees. "Companies able to invest in equity, offtake commitments, or co-development partnerships at this stage will secure better technology access and pricing than those that wait for technology readiness levels 8 to 9," the organisations note. Moreover, in terms of lithium through brine ponds investment, UCT and Duke suggest that conventional brine evaporation recovers only 30% to 50% of lithium over a 12- to 24-month cycle and is exposed to regulatory and water-use constraints. DLE technologies, on the other hand, particularly those in China, Argentina and at pilot stage elsewhere, can recover more than 90% of lithium in hours. However, DLE performance is strongly brine-chemistry dependent and most flows...

  3. 13 hrs ago

    Martin Creamer talks about: AI and alloys, mining innovation and Sasol's PEM electrolyser

    Mining Weekly Editor Martin Creamer tells us about how AI is helping to develop alloys for use in new applications; the study that’s shown that there is considerable room to increase mining’s innovation intensity; and Sasol’s PEM electrolyser that was recently launched.

  4. 1 day ago

    Mining production decreased by 4% y/y in June

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Statistics South Africa (Stats SA) reports that mining production decreased by 4% year-on-year in June, with the largest negative contributor being platinum group metals (PGMs), which recorded a decline of 8.4% year-on-year, contributing -2.4 percentage points. Coal production decreased by 6.6% and contributed -1.7 percentage points, while iron-ore production declined by 10.2% and contributed -1.5 percentage points. Seasonally adjusted mining production increased by 0.3% in June compared with May. This followed month-on-month changes of -5.2% in May and 3% in April. Seasonally adjusted mining production decreased by 2.7% in the second quarter of this year compared with the first quarter. The largest negative contributor was PGMs, which declined by 6.4% and contributed -1.8 percentage points. Manganese ore production declined by 5.3% quarter-on-quarter and contributed -0.4 of a percentage point, while gold declined by 3.2% and contributed -0.3 of a percentage point. Additionally, seasonally adjusted iron-ore production declined by 2% quarter-on-quarter and contributed -0.3 of a percentage point. Meanwhile, mineral sales at current prices increased by 27.2% year-on-year in June. The largest positive contributors were gold, which increased by 125.7% and contributed 17.1 percentage points; PGMs, which increased by 27% and contributed 7.3 percentage points; and chromium ore, which increased by 49% and contributed 3.7 percentage points. Iron-ore, however, declined by 16.1% and contributed -1.7 percentage points and 'other' non-metallic minerals declined by 35.5% and contributed -1.3 percentage points. These were the only negative contributors. Stats SA adds that seasonally adjusted mineral sales at current prices increased by 2.7% in June compared with May. This followed month-on-month changes of -4.4% in May and 3.1% in April. Seasonally adjusted mineral sales at current prices decreased by 1.6% in the second quarter of this year compared with the first quarter.

  5. 1 day ago

    Scoping study on Brazilian Rare Earths' Rocha da Rocha project confirms lowest-cost Western supply opportunity

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. ASX-listed Brazilian Rare Earths' newly published scoping study on the Rocha da Rocha rare earths project, in Brazil, particularly its anchor Monte Alto deposit, finds the potential for life-of-mine average production of 5 276 t/t of neodymium and praseodymium (NdPr) oxide and 2 253 t/y of heavy rare earth concentrate, containing about 247 t of dysprosium and terbium and 989 t of yttrium. This scale positions Brazilian Rare Earths as a potential leading supplier for a growing market that needs more heavy rare earth feedstocks. The company identified the Rocha da Rocha's flagship deposit, Monte Alto, in February 2024 and deems it the anchor of a broader critical minerals province with the potential to become one of the most important new sources of rare earth supply globally. Monte Alto's primary and residual mineralisation averages 11.3% total rare earth oxides, which gives Brazilian Rare Earths a high-grade structural advantage that few rare earth projects can match globally. The scoping study reports an after-tax net present value of $7.9-billion, an after-tax internal rate of return of 89% and a payback period of 1.1 years. The Monte Alto operation can generate life-of-mine average yearly earnings of about $1.37-billion. CEO and MD Bernardo da Veiga says the high grades at Monte Alto changes the entire development equation, since fewer tonnes, a smaller mining footprint and lower processing intensity is economically viable. The scoping study finds Rocha da Rocha to be the lowest-cost non-Chinese rare earth project and the second-lowest-cost project globally on Benchmark Mineral Intelligence's rare earth cost curve at $21/kg of NdPr-equivalent, before potential future cost credits from uranium, scandium, nobium and other co-products. The company has determined a simple initial development strategy focused on a seperated NdPr oxide and a heavy rare earths-rich concentrate containing significant amounts of dysprosium, terbium, yttrium and gadolinium. Brazilian Rare Earths says uranium is being advanced as a strategic co-product and future value pathway, while scandium, nobium and tantalum provide additional upside for future studies. "The key point for shareholders is that the initial scoping study investment case does not rely on the suite of critical mineral co-products. It is built on high-grade Monte Alto feedstock, a simple beneficiation pathway and the production of rare earth products that global customers urgently need," Da Veiga explains. Monte Alto will be designed as a small-footprint mine site operation using dry crushing, screening and sensor-based ore sorting, with no chemical processing at the mine site. Upgraded feed will be transported to the company's planned Camaçari refinery hub, located within an established industrial complex with access to infrastructure, utilities, reagents, industrial services, logistics and skilled labour. This unique hub-and-spoke model allows us to keep the mine site operations to a minimum while locating more complex hydrometallurgical and separation activities in an established industrial environment. Having signed a binding ten-year offtake and engineering, and technical services agreement with French rare earth processor Carester in October last year, Brazilian Rare Earths says Carester's role in the scoping study further strengthens the development pathway of Monte Alto. Carester's downstream seperation work supports the production of high-purity NdPr oxide and a heavy rare earths-rich concentrate. Da Veiga says the significance of this scoping study is not simply that Rocha da Rocha generates compelling economics across this wide range of price scenarios, rather, its greater importance is that it highlights a unique combination of project str...

  6. 1 day ago

    No material impact anticipated for copper, cobalt market from DRC policy shift – BMI

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. A Democratic Republic of Congo (DRC) Ministerial Order banning the export of copper and cobalt concentrates, which also introduces a new tax regime, is unlikely to have a material impact on either the global copper or cobalt market, but could add a near-term risk premium to copper prices while details of the policy are clarified, BMI, a Fitch Solutions company, posits. On August 6, Reuters reported that the DRC has banned exports of copper and cobalt concentrates, citing a joint Ministerial order dated June 29, signed by Mines Minister Louis Kabamba Watum, Foreign Trade Minister Julien Paluku Kahongya and Economy Minister Daniel Mukoko Samba. The order, which was later released publicly by the DRC Ministry of Mines, states that 'the export of copper and cobalt concentrates is prohibited' and takes effect immediately, although one-year waivers may be granted under 'strategic circumstances.' The order also introduces a new tax regime for economically significant mining by-products, with a three-month transition period. BMI explains that since the mid-2010s, the DRC has operated a de facto ban on exports of unbeneficiated copper and cobalt concentrates, with ad hoc exemptions granted to select mining companies where domestic processing capacity was insufficient or where said companies committed to investing in local processing. "We therefore interpret the new policy as a shift to a de jure ban with tighter rules around waivers and exemptions on the export of concentrates," the company avers. For copper, about 13% of the DRC's copper exports last year were contained in concentrates, with most of the rest exported as refined copper cathodes, BMI points out. The former equates to about 400 000 t of copper metal, or about 1.7% of global copper mine production, it elaborates. "While a loss of this magnitude has the potential to push the delicate copper market balance into deficit, we note that the DRC should have some spare capacity to smelt additional copper concentrates domestically, given the recent commissioning of the Kamoa-Kakula smelter, which has a nameplate capacity of 500 000 t/y," BMI predicts. Currently, the Kamoa-Kakula mine is producing copper feedstock well below the smelter's nameplate capacity, owing to the residual impact of a seismic incident last year, which caused much of the underground mine to flood. Therefore, there is a possibility for Kamoa-Kakula's owners, Ivanhoe Mines and Zijin Mining, to allow neighbouring copper mines to process concentrates at the Kamoa-Kakula smelter if those miners are unable to negotiate waivers with Kinshasa, provided spare capacity exists and third-party feed is technically and commercially viable, BMI hypothesises. It notes that Ivanhoe themselves smelt a portion of their copper concentrate output at the nearby Lualaba copper smelter, which is 60% owned by Mainland China's CNMC. "For this reason, we are not yet revising down our DRC copper mine production forecasts for this year or 2027, which we have already revised down this year following the aforementioned disruption at Kamoa-Kakula," the company reassures. Meanwhile, it says that, for cobalt, the ban is "even less impactful than for copper". According to trade data published by the Congolese authorities, almost all cobalt that leaves the DRC leaves as cobalt hydroxide, an intermediate product after concentrate but before battery-grade cobalt, the company explains. The more important policy constraint remains the quota system introduced after the temporary cobalt export ban last year, it adds. The DRC has set cobalt export quotas at 96 000 t for this year, including a 10% strategic allocation, equivalent to less than half the DRC's cobalt exports in 2024. "As a result, the concentrate ban shou...

  7. 2 days ago

    India's iron-ore approach for ambitious steelmaking strategy can shape global demand, decarbonisation, IEEFA warns

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. US-based think tank Institute for Energy Economics and Financial Analysis (IEEFA) outlines in its latest report 'India's looming iron-ore challenge' how the country may not have enough access to the right quality of ore for its ambitious steelmaking expansion plans. IEEFA says how India sources imported iron-ore and how much domestic ore it upgrades could shape the country's steelmaking technology choices, as well as influence India's dependence on imported coking coal and the pace of steel decarbonisation. Under India's proposed National Steel Policy 2025, the government aims to more than double crude steel production capacity to 400-million tonnes by 2035/36 while cutting the sector's emissions intensity and reliance on coking coal. India produced about 289-million tonnes of iron-ore in the 2024/25 financial year, making it the world's fourth-largest producer, however, about 66.5% of India's remaining resources are medium- and low-grade ore that requires beneficiation. Expanding the country's 27 beneficiation plants' capacity from 136-million tonnes a year to 170-million tonnes a year by 2030 will require about $5.7-billion of investment, alongside supportive policy such as reduced royalties for beneficiated low-grade ore. Many Indian ores also carry high alumina levels. IEEFA says every 1% rise in alumina lifts coke consumption by 2.2% and cuts blast furnace productivity by 4%. "India's iron-ore challenge is shifting from securing sufficient supply to securing the right quality of ore needed for an expanding and lower-emissions steel industry. As iron-ore imports become more important for the country, the type of ore it sources could influence technology choices and thereby the pace of steel decarbonisation and long-term dependence on imported coking coal," IEEFA report author Saumya Nautiyal elaborates. With global suppliers increasingly producing premium direct reduction-grade feedstocks and green iron, India should evaluate future iron-ore sourcing through the lens of technology, energy security and industrial competitiveness, and not simply cost. IEEFA stresses that upgrading domestic ore should be at the centre of India's strategy, but with more than 357-million tonnes of steelmaking capacity under development, imports of premium ore will also grow. Nautiyal says the grades that India chooses to import will shape steelmaking technologies it locks in and how exposed the sector stays to coking coal. He points out how the higher grade iron-ore shift is already reshaping corporate strategy. On Tata Steel's fourth-quarter earnings call, CE T.V. Narendran set out a post-2030 raw material approach built on securing domestic mining leases, expanding production where ore is available, and evaluating imported ore to complement domestic supply. Tata Steel has already trialed imported Canadian iron-ore, with Narendran noting that lower-alumina ores can deliver better value in use, particularly for its expanding coastal plants. Globally, demand growth is moving from a maturing China towards emerging producers, including Southeast Asia and India. Iron-ore giant Vale has identified India as a strategic growth market and the Australian government forecasts India's iron-ore imports rising from three-million tonnes in 2025 to 50-million tonnes by 2031. The head of raw materials at Jindal Steel estimates that producing around 220-million tonnes of steel by 2030 would require roughly 500-million tonnes of iron-ore, leaving a potential 40-million tonne gap even after planned mine expansions. Beyond Australia, Brazil is well positioned to benefit from India's shift towards lower-emissions steelmaking, given its abundant high-grade iron ore resources and growing production of direct reduction-grade feedstock...

  8. 2 days ago

    Southern Palladium's JSE share price surges on granting of Bengwenyama mining right

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Johannesburg- and Australia-listed Southern Palladium's share price on the JSE jumped by nearly 28% on August 11 after the company confirmed that South Africa's Department of Mineral and Petroleum Resources (DMPR) had granted the mining right for the company's flagship Bengwneyama platinum group metals (PGMs) project, in Limpopo. The granting of the mining right marks the completion of a comprehensive regulatory engagement process between Southern Palladium and the DMPR following the lodgement and acceptance of the mining right application in October 2023. "Securing the Bengwenyama mining right is a pivotal catalyst for driving the Bengwenyama project from studies to execution. With the mining right in hand, we can continue to progress the definitive feasibility study's (DFS's) completion, fast-track the project execution plan and operational readiness activities, to mobilise contractors for decline and boxcut works and start early works at the project. "The significant improvement in our metallurgical results recently announced, including the step-change in chromite recoveries and the inclusion of a dense media separation component in the plant, combined with our mine design optimisations, means the team can confidently convert technical outcomes into constructible workstreams and turnkey schedules. The mining right materially de-risks the pathway to early development," says Southern Palladium MD Johan Odendaal. Southern Palladium chairperson Roger Baxter adds that the granting of the mining right is the result of constructive and sustained engagement with the DMPR leadership and regulators and the Bengwenyama community and demonstrates the strength of government support and the company social licence to operate. "The project's location in the Bushveld Complex, the premier PGM jurisdiction globally, gives the Bengwenyama project compelling geological, processing, smelting, refining and infrastructure advantages. With global demand for PGMs remaining firm, driven by multiple, large-scale industrial sectors and emerging technologies such as hard drive storage devices that use PGMs, and ongoing supportive fundamentals, the project is exceptionally well-positioned to deliver strategic, long-term value for stakeholders while continuing to prioritise responsible development and meaningful benefits for our partners, the Bengwenyama community as well as the broader region," he says. The company notes that its board has approved the start of early boxcut and decline development before the end of this year, subject to the completion of the relevant waste management and water-use permitting processes. Further, it says the DFS works programme is expected to be delivered in the first quarter of 2027, which is a one-quarter extension to ensure the significant value arising from recent excellent metallurgical test results is fully incorporated into the DFS plant design and optimisation work. Southern Palladium notes that, at full steady state Stage 2 production, the project will produce more than 400 000 oz/y of PGMs and one-million tons of high-grade chrome concentrate a year. The company points out that experienced project director Michiel Breed and underground PGM mine manager France Modau are leading preparations for the project's execution. Southern Palladium share price on the JSE rose by 27.8% to R23.01 a share on August 11, compared with the close of R18 a share on August 7. Corporate advisory firm Bridge Street Capital Partners has welcomed the news, stating in a report that the granting of the Bengwenyama mining right allows Southern Palladium to advance discussions with South African PGM smelters and refiners and chromite traders. "This may enable product pre-pays/streaming/royalty deals to be pu...

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MiningWeekly.com provides real time news reportage through originated written & video material. Now you can listen to the top three articles on Mining Weekly at the end of each day.

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