The San African’s Post

The closure of the Cobre Panama mine by the government is indeed a significant event with far-reaching implications. The mine, operated by First Quantum Minerals, is one of the largest copper mines in the world and accounts for about 1.5% of global copper production². Its shutdown is expected to tighten the global copper supply, which could lead to increased prices and potential disruptions in industries reliant on copper, such as electronics and renewable energy². Additionally, the closure has substantial economic impacts on Panama, as the mine contributes around 5% of the country's GDP and 75% of its export goods³. This situation highlights the delicate balance between economic development and environmental and social concerns in the mining industry. Source: Conversation with Copilot, 5/10/2024 (1) Panama mine shutdown threatens copper’s surplus - MINING.COM. https://lnkd.in/ghVqDguZ. (2) Panama orders First Quantum’s copper mine closure - MINING.COM. https://lnkd.in/guetUT9n. (3) Cobre Panama: How a $10 billion copper mine is now sitting idle in the .... https://lnkd.in/gYAwsb2k. (4) Panama GDP growth expected to slow in 2024 on First Quantum mine .... https://lnkd.in/gMMcSMjb.

https://lnkd.in/gY9QjDR8 The report by consultancy S&P Global comes amid rising pressure on U.S. officials to streamline what is seen by mining companies and some policymakers as a confusing and lengthy process to obtain a mining permit that harms efforts to offset China's near-total control of the critical minerals sector. 1. Zambia 2. United States 3. Canada 4. Mongolia 5. Argentina 6. Ghana 7. Congo 8. Australia Bolivia is not mentioned in this article despite its riches in areas like lithium - https://lnkd.in/gfE7F4Qi Chile is not mentioned in this article despite its riches in areas like lithium, copper, etc. - https://lnkd.in/gDWtA8qW The world needs copper, nickel, lithium, cobalt, iron-ore as part of moving the world to cleaner sources of energy. Blog – ESG – Critical Minerals – United States Canada and Australia vs Rest of the World - https://lnkd.in/gSWQnNXe

According to statistics from the World Mining Data 2024, there are interesting trends that are continuing to emerge regarding the sources of metals and minerals. From 2016 to 2022, total global minerals production increased by 11%. However, if you look at the breakdown between the four political stability designations: stable, fair, unstable and extremely unstable, there is a divergence in the two extreme categories. Politically stable countries decreased minerals production by 95%, while extremely unstable countries increased their production by 41% over that 6 year period. Over 2/3 of all minerals production occurs in either a politically unstable or very unstable countries. This highlights a global geopolitical risk that continues to increase over time and underscores the urgency for companies to create strong due diligence processes. These trends also highlight the challenges of managing the balance between the raw material costs and the resilience and stability of the supply chain. Finally, countries with stronger political systems need to take a larger role with contributing to the global production of metals (whether through primary sourcing or through advanced recycling) to create greater stability in the global supply chain. https://lnkd.in/dgKWfTPj https://lnkd.in/dKUU3kSF

Mysteel #daily reporting on China #lithium-ion market 20241122 Highlight: #Lithium #ore prices experienced a slight decline amid a relatively subdued market. Meanwhile, mining companies maintained a strong price-support sentiment, creating a standoff between upstream and downstream players. It is projected that the lithium ore prices will hover rangebound in the short term. For lithium carbonate, the prices recorded a modest increase, with market inquiries and quotations showing signs of improvement compared to previous days. However, upstream suppliers remained firm on pricing, while downstream buyers were cautious, resulting in limited transactions. It is estimated that lithium carbonate prices will move rangebound in the near term. To read the full price reporting of China lithium-ion battery industry chain, please visit 👉 https://lnkd.in/ggHXFTsp

Zimbabwean Miners Forecast Profit Drop Amid Rising Costs and Weak Lithium Outlook Zimbabwean miners are forecasting a drop in profits in 2025 due to rising production costs and a weak outlook for platinum and lithium, according to a report from the Chamber of Mines of Zimbabwe (COMZ). The report highlights a combination of global and local challenges that are expected to negatively impact the country’s mining revenue next year. Zimbabwe is rich in platinum group metals (PGMs), gold, and lithium, but profitability is under pressure. Isaac Kwesu, COMZ’s chief executive, noted, “The issue of rising costs continues... Read more on the link below https://lnkd.in/gSWVV72j

Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) has announced a significant boost to the mineral resources at its Zulu Lithium and Tantalum Project in Zimbabwe. The latest update reveals a 23% increase in lithium and a 17% rise in tantalum, compared to earlier estimates. The company also noted an improvement in the quality of the lithium ore. The updated figures, which comply with the JORC and SAMREC codes, estimate that the deposit contains over 131,000 tonnes of lithium oxide (Li2O), which can be processed into about 2.2 million tonnes of a lithium-rich material known as spodumene concentrate, used in batteries. The deposit also holds around 1.2 million kilograms of tantalum, a rare metal used in electronics. This update comes after ongoing mining activities have provided more accurate data about the quality of the ore being mined. The company expects future updates as mining continues and more of the deposit is... More at #Proactive #ProactiveInvestors http://ow.ly/EZFB105M25A

Copper is considered an essential metal for the clean energy transition because it is a great conductor of electricity. There has been increasing focus from governments to construct or acquire mines. As per 2023 global copper production data, 👉Chile and Peru account for one-third of the world's copper output. 👉African countries have rapidly increased their production. 👉Part of the growth in copper mining in Africa is attributed to high investment from China. Chinese mining companies represent 8% of Africa’s total output in the mining sector. 👉China has also seen a 277% growth in copper production over the last three decades. https://lnkd.in/gQcV7uPT

BoN forecast slow growth in Uranium, Gold output in 2024: The Bank of Namibia projects a slowdown in uranium mining sector growth to 3.6% in 2024 from a robust 24.5% in 2023, attributed to water supply interruptions and mine adjustments. Despite the uranium price surge in the past months as anticipated by market analysts since 2013, water supply interruptions and production adjustments at mines are […]

Most mining for critical minerals needed for the energy transition is controlled by countries with advanced economies and major consumer countries. But it is mostly less-wealthy countries that are experiencing protests and violence linked to mining. As mining is forecast to spike, it is likely unrest will too. https://lnkd.in/d_7MZc9j

Zambia’s Govt Reaffirms Commitment to Mining Sector Growth Amid Strong Copper Production Zambia’s government has reiterated its commitment to creating a favourable investment climate in the mining sector, citing impressive increases in copper production as evidence of the success of its policies, according to Canadian miner First Quantum Minerals (FQM). This affirmation followed a recent visit by government officials, including the Ministers of Finance, Mines, Information, and Labour, to FQM’s Kansanshi and Trident mining operations. The visit underscored a significant rise in copper production, which is helping Zambia move closer to its ambitious target of producing 3 million tons of copper annually…Read More Here https://lnkd.in/dXbd7CBe