Engineering & Mining Journal

JUN 2019

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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2 E&MJ • JUNE 2019 FROM THE EDITOR While thumbing through the news in this month's E&MJ, readers will notice a few mining companies that are work- ing with customers to attract investment for the supply of minerals rather than simply selling ore. As an example, a European battery maker (Umicore) purchased a cobalt re- fi nery in Finland from an American mining company (Free- port-McMoRan). Umicore also struck an agreement with Swiss miner Glencore to buy cobalt from its mines in the Democratic Republic of Congo (DRC). The refi ned materials will be shipped to a battery factory in Poland. This is one example that demonstrates how European companies secured a supply chain for lithium-ion batteries and bat- tery-grade minerals, essentially preparing for future demand and profi ting from it. Similar activities are taking place in Canada and Australia. Mining companies are revisiting brownfi eld operations and making investments to export natural resources and secure minerals where availability seems to be in possible political jeopardy. In general, a keen understanding of the natural resources sector by government offi cials allows both these countries to bring mines, mills and smelters online quickly. In Africa and Latin America, political change has opened the door for opportunity and it's attracting investment. Chinese and Russian mining companies are expanding a signifi cant foothold in sub-Saharan Africa. The Chinese and Japanese metal compa- nies have made major investments in South America. Opportunities brought about by political change always face a degree of uncertainty, especially when the pendulum swings the other way (see Zambia Plans to Seize Vedanta Copper Assets, p. 5) Who's missing from all this resource investment activity? The USA — the largest economy in the world. Over the past 30 years, the U.S. has regulated itself out of business and most federal government offi cials have lost touch with the mining and minerals processing sectors. Yes, the U.S. produces signifi cant quantities of gold, copper, iron ore, coal and other bulk commodities, which means it's in the game, but the list of minerals it imports is much longer than the one it produces. Last year, a report from the U.S. Department of Interior found that the U.S. is import-reliant, where imports are greater than 50% of annual consumption, for 31 of the 35 minerals designated as critical. For 14 of these critical minerals, the U.S. has no domestic production; it relies completely on imports. To address this problem and reduce America's vulnerability to supply disruptions, President Donald Trump issued an executive order directing government offi cials to submit a report that includes, among other things, options for accessing and developing critical minerals. Reacting to this request, the U.S. Department of Commerce recently published its report, "A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals," which, among other things, recommends a path to streamline leasing and permitting processes in a safe and environmentally responsible manner. After two years, the U.S. federal government has identifi ed the 7- to 10-year permitting process as a problem. Brilliant. While most western miners operating on federal lands choose wisely not to take sides politically, fearing the previously mentioned political pendulum, they usually admit that the investment climate for mining has improved in the last two years. To secure a future supply, the U.S. will have to act much more quickly and decisively with its domestic minerals policy. In the meantime, it will likely have to rebuild bridges with and show a little more respect for its trading partners. US Drags Its Feet on Mineral Policy Steve Fiscor Publisher & Editor-in-Chief Steve Fiscor, Publisher & Editor-in-Chief sfi scor@mining-media.com Mining Media International, Inc. 11655 Central Parkway, Suite 306; Jacksonville, Florida 32224 USA Phone: +1.904.721.2925 / Fax: +1.904.721.2930 Editorial Publisher & Editor-In-Chief—Steve Fiscor, sfi scor@mining-media.com Associate Editor—Jennifer Jensen, jjensen@mining-media.com Technical Writer—Jesse Morton, jmorton@mining-media.com Contributing Editor—Russ Carter, rcarter@mining-media.com European Editor—Carly Leonida, cleonida@mining-media.com Latin American Editor—Oscar Martinez, omartinez@mining-media.com South African Editor—Gavin du Venage, gavinduvenage@gmail.com Graphic Designer—Tad Seabrook, tseabrook@mining-media.com Sales Midwest/Eastern U.S. & Canada, Sales—Victor Matteucci, vmatteucci@mining-media.com Western U.S., Canada & Australia, Sales—Frank Strazzulla, fstrazzulla@mining-media.com Scandinavia, UK & European Sales—Colm Barry, colm.barry@telia.com Germany, Austria & Switzerland Sales—Gerd Strasmann, info@strasmann-media.de Japan Sales—Masao Ishiguro, ma.ishiguro@w9.dion.ne.jp Production Manager—Dan Fitts, dfi tts@mining-media.com Marketing Manager—Misty Valverde, mvalverde@mining-media.com www.e-mj.com Engineering & Mining Journal, Volume 220, Issue 6, (ISSN 0095-8948) is published monthly by Mining Media International, Inc., 11655 Central Parkway, Suite 306, Jacksonville, FL 32224 (mining-media.com). Periodicals Postage paid at Jacksonville, FL, and additional mailing offi ces. Canada Post Publi- cations Mail Agreement No. 41450540. Canada return address: PO Box 2600, Mississauga ON L4T 0A8, Email: circulation@mining-media.com. Current and back issues and additional resources, including subscription request forms and an editorial calendar, are available at www.e-mj.com. SUBSCRIPTION RATES: Free and controlled circulation to qualifi ed subscrib- ers. Visit www.e-mj.com to subscribe. Non-qualifi ed persons may subscribe at the following rates: USA & Canada, 1 year, $90. Outside the USA & Can- ada, 1 year, $150. For subscriber services or to order single copies, contact E&MJ, c/o Stamats Data Management, 615 Fifth Street SE, Cedar Rapids IA 52401, 1-800-553-8878 ext. 5028 or email subscriptions@e-mj.com. ARCHIVES AND MICROFORM: This magazine is available for research and retrieval of selected archived articles from leading electronic databases and online search services, including Factiva, LexisNexis, and Proquest. For mi- croform availability, contact ProQuest at 800-521-0600 or +1.734.761.4700, or search the Serials in Microform listings at www.proquest.com. POSTMASTER: Send address changes to E&MJ, 11655 Central Parkway, Suite 306, Jacksonville, FL 32224-2659. REPRINTS: Mining Media International, Inc., 11655 Central Parkway, Suite 306, Jacksonville, FL 32224 USA; email: subscriptions@e-mj.com; phone: +1.904.721.2925, fax: +1.904.721.2930; www.mining-media.com. PHOTOCOPIES: Authorization to photocopy articles for internal corporate, personal, or instructional use may be obtained from the Copyright Clear- ance Center (CCC) at +1.978.750.8400. Obtain further information at copyright.com. EXECUTIVE OFFICE: Mining Media International, Inc., 11655 Central Park- way, Suite 306, Jacksonville, FL 32224 USA phone: +1.904.721.2925, fax: +1.904.721.2930, www.mining-media.com. COPYRIGHT 2019: Engineering & Mining Journal, incorporating World Mining Equipment, World Min- ing and Mining Equipment International. ALL RIGHTS RESERVED. While thumbing through the news in this month's readers will notice a few mining companies that are work- ing with customers to attract investment for the supply of minerals rather than simply selling ore. As an example, a European battery maker (Umicore) purchased a cobalt re- fi nery in Finland from an American mining company (Free-

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