COPPER DEPOSITS
Artificial Intelligence helped to find a vast source of the copper that AI needs to thrive
KoBold is pumping $2.3 billion into its first mine and is negotiating tricky partnerships with contractors and governments alike. It is relying on the U.S. government to finance a new railway to export the copper.
No benefits likely from 38 critical blocks put on sale in this decade: Icra
Icra reported that benefits from the 38 critical mineral blocks on sale may not materialize by 2030 due to incomplete exploration. India's downstream manufacturing could face supply shocks. The government is auctioning lithium blocks in J&K and Chhattisgarh, with challenges in extracting lithium from clay deposits. Overseas acquisitions are also being considered.
Half of all copper mining is at drought risk with climate change
Copper has rallied in recent months to surpass $10,000 a metric ton, fueled by bets on looming shortages as mines struggle to meet rising demand from electric vehicles, grid infrastructure and data centers.
UAE giant eyes majority stake in Vedanta's Zambian mines in expansion drive
Vedanta wants to sell part of its 80% stake in KCM and has hired Standard Chartered to manage the process in an effort to raise capital to revive the assets, which were nearly paralysed in an ownership dispute with the government that erupted in 2019 when the then-administration seized them. The deals spree is part of a push by oil-rich United Arab Emirates (UAE) and Saudi Arabia to secure critical metal supplies from Africa, a move that could also help them participate in the transition to green energy.
Modi’s green push spurs 120% mining stock frenzy in India
Increased appetite for all things linked to the manufacturing of electric-vehicle batteries and other renewables equipment has been a boon for many markets. But in Asia’s third-largest economy, investors are betting those gains have further room to run thanks to Prime Minister Narendra Modi’s goal to reach net zero emissions by 2070.
Zambia agrees to hand disputed copper assets back to Vedanta
Zambia has agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, ending a dispute that began in 2019 when the government seized the mines. Vedanta has pledged to invest over $1.2 billion to increase output and repay outstanding debts. A shareholders' agreement is being revised to make the commitments legally binding. The agreement comes after both parties abandoned court challenges and opted for negotiations
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Vedanta Resources generates USD 4.6 bn EBIDTA; USD 2.8 bn free cash flow in FY23
The company said it expects further improvement in its capital structure, based on the robust EBITDA and free cash flow estimates for FY24. As part of company's ongoing balance sheet management, all maturities for Q1 FY24 have been prepaid, it said. With no significant maturities for the next 6 months, the Group is now focused on addressing 2024 and beyond and remains fully confident that it will continue to meet all its maturities in a timely manner, the statement said.
Copper mine flashes warning of ‘Huge Crisis’ for world supply
A greener world will have six million tons less copper by next decade, as per an estimate by analysts at Wood Mackenzie.
Vedanta may have a fair chance to run Sterlite plant again: Sunil Duggal, Group CEO, Vedanta Limited
On Vedanta Zinc International, we believe that this year our production will be up by around 50% compared to last year. This company has reserves that are more than Hindustan Zinc today, asserted Sunil Duggal, Group CEO, Vedanta Limited.
Lithium deposits found in J&K: Is India's EV drive now set to take the fast lane?
India announced that 5.9 million tonnes of lithium reserves have been found for the first time in the country in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. As the world moves away from gasoline-fueled combustion engines, demand for lithium, nickel, cobalt and other metals that go into lithium-ion batteries is soaring.
This startup may have the key to unlock millions of tons of copper
In what could prove a game changer for global supply, a US startup says it’s solved a puzzle that has frustrated the mining world for decades.
Russia’s largest copper deposit ready to support India’s transition to net-zero
Erkozha Akylbek, chairman of Udokan Copper's board of directors, told ET that the company is ready to supply copper to support India's transition to net zero. India's electric vehicles, solar panels and wind turbines require copper.
Gold, copper deposits found in Saudi Arabia's Medina
The Saudi Geological Department tweeted that the recent discoveries could attract foreign investment in the mining industry. The Ministry of Industry and Mineral Resources announced in June that the kingdom would invest $32 billion in mining.
India wants to open up for lithium mining in batteries quest
Eight minerals, including lithium, beryllium and zirconium will be removed from a restricted list that currently prohibits production by private companies.
Govt may permit private miners to extract lithium for battery production
The Government is attempting to modify the law to permit private miners to collect lithium, a crucial component of batteries used in electric vehicles and energy storage, as the country strives to become more self-sufficient in green technologies. In wake of this action, the government is also aiming to reduce India’s dependence on imports for some key minerals while putting the country in a better position to compete in the lucrative battery supply chain.
Hold cash or else invest in these 3 sectors: Sandip Sabharwal
“There are opportunities in three areas. One is auto stocks where headwinds are turning into tailwinds. The second is capital goods companies which do fixed cost projects and which have suffered so much over the last 18 to 24 months. They are in a sweet spot now. The entire reopening trade of multiplexes, luggage companies, hotels etc. also continue to do very well.”
With eye to China investment, Taliban now to preserve Buddhas
China's ambassador to Afghanistan has said talks are ongoing, but nothing more. Acquiring rare minerals is key for Beijing to maintain its standing as a global manufacturing powerhouse. While stopping short of recognizing the Taliban government, China has stood out from the international community by calling for the unfreezing of Afghan assets and has kept its diplomatic mission running in Kabul.
Now Taliban preserve buddhas, with eye to China investment
The fighters standing guard by the rocky hillside may once have considered destroying the terracotta buddhas. Two decades ago when the Islamic hard-line Taliban were first in power, they sparked world outrage by blowing up gigantic buddha statues in another part of the country, calling them remnants of paganism that must be purged.
China moves fast to engage Taliban Govt eyeing Aynak copper mines
The reserves of an estimated 240 million tonnes of 2.3 percent grade copper are believed to be worth at least $50billion. China’s Jiangxi Copper has a 25 percent stake in Mes Aynak with Metallurgical Corp of China (MCC) and a 30-year contract worth US$3 billion to develop the deposit, touted as one of the world’s largest untapped high-grade projects.
Avoid using plastic or stainless steel utensils. Coronavirus stays on them for 3 days
The novel virus can remain stable for about four hours on copper, and up to 24 hours on cardboard.
GDR manipulation: Sebi levies Rs 10.5 crore fine on Nissan Copper, officials
It noted that the company had issued 5 million GDRs worth $22.40 million on May 20, 2010.
EVs may add spark to base metals
Real estate is a big consumer of copper apart from electric vehicles.
China finds polymetallic sulphide deposits in Indian Ocean
In 2011, China had entered into a deal with the International Seabed Authority for a polymetallic sulphide exploration area of 10,000 sq km in the Indian Ocean for 15 years.
What I read this week: Emerging investment trends and the big changes in power sector that no one is talking about
The protein consumption in the emerging market economies is driving up the demand for soybeans.
Racist outburst prompts Marc Faber's exit from three company boards
Far-right movements are gaining traction across Europe and the United States.
What I read this week: A listed central bank with soaring shares! Why stocks will keep rising
One has to be very careful in allocating their hard earned money in different asset classes.
Material tougher, more conductive than copper developed
New York, April 23 (IANS) Researchers have developed thin carbon nanotube (CNT) textiles that exhibit high electrical conductivity and a level of toughness about 50 times higher than copper films, currently being used in electronics.
India to explore mineral deposits off Mauritius coast
The exploration is expected to lead to vast deposits of lead, zinc and copper ranging from several thousands to about 100 million tonnes.
Studies indicate presence of gold, copper deposits in Rajasthan: GSI
Studies by scientists of the Geological Survey of India (GSI) have indicated presence of gold and copper deposits in village of Alwar.
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