Shares in Sirius Minerals (LON:SXX) were off to the races on Wednesday after it announced it had secured a major seven-year African supply deal.
Potash Mining News
The Competition Commission of India green-lighted the $4.1 billion deal reached in May between the Canadian potash giant and China’s Tianqi Lithium.
The country's antitrust regulator is investigating the effects on the market of Chinese miner Tianqi Lithium acquisition of a 24% stake in SQM, the world's second largest lithium producer,
A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.
No surprise who the winner is.
The new rules are a clear effort to improve the current legislation as seamlessly as possible, but in close attention to the international industry dynamics and to a number of other sensitive issues (such as environmental recovery and security).
The two separate decrees aim at making the local industry more competitive and sustainable, while while implementing rules on the collection of higher mining royalties.
It produced 4,600 tonnes of lithium more than Chile in 2017 boosted mainly by record output at Mt Cattlin and Mt Marion mines.
Michel Temer is expected to issue a decree next week introducing key changes to mining rules that date back to the 1960s.
The companies are committed to explore for mineral deposits first in the Asian country and then the rest of the world .
The Trump administration is strategizing to reduce import reliance for metals "critical to the economic and national security of the United States."
However, the Canadian Mining Eye index — which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies — dropped 8% in the three months to March 2018.
Uranium and key rechargeable battery metals lithium and cobalt are on a final list of 35 critical minerals that the US deems essential to national security.
The Asian firm has bought a 24% stake in Chile’s Sociedad Quimica y Minera (SQM), one of the world’s biggest lithium producers.
ICL, which also produces about a third of the world’s bromine, is the world’s sixth-largest producer of the fertilizer ingredient.
The world’s largest potash miner said it expected to have an announcement on the matter by the end of June.
Chinese companies continue to aggressively try securing steady supply of lithium, a key ingredient in the making of batteries that power electric cars.
Australian lithium producer Galaxy Resources said it was evaluating “strategic options” for its project in Argentina, which remains in the feasibility stage.
What the bears seem to have in common is the belief that a rush of new lithium supply will soon hit the market.
If China’s Tianqi grabs a stake in Chile’s SQM, the world’s lowest cost lithium miner, it would mean the top three producers would control at least 80% of the total market, Chile’s government has said.
The machinery manufacturer logged earnings of $2.82 per share on revenue of $12.9 billion, surpassing expectations.
Davenport Resources reported a maiden Joint Ore Reserves Committee-compliant resource of 576.6-million tonnes at 12.1% potassium oxide at its Ebeleben mining licence.
A diamond drilling campaign is about to start at the Salobro Zinc Project.
The second largest ever private equity fund focused on mining closed in the first quarter – 13 funds aim to raise a further $4.9 billion in 2018.
Michigan Potash Co. is closer than ever to start building a potash mine in the state.