Eurobench.com

voda 31 januari 2023 07:41

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BHP Expects to Start Jansen Potash Mine in Canada in 2026

Strategic Research Institute
Published on :
31 Jan, 2023, 4:08 am

BHP announced that production is expected to commence at Jansen mine in Canada in late 2026, delivering 4.35 million tonnes of potash a year to customers around the world producing the nutrient-rich fertilisers required to address a growing population, constraints on agricultural land and evolving diets.

BHP said “As preparations ramp up to deliver BHP’s newest operating asset, our teams in Saskatchewan and across Canada are working hand-in-hand with community stakeholders to address local environmental, employment and economic priorities. Community leaders representing municipal governments, First Nations and Métis as well as local organisations came together to see progress on site first-hand and discuss the path ahead for the project.”

voda 31 januari 2023 07:44

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Vale Progressing Well on Brumadinho Dam Remediation

Strategic Research Institute
Published on :
31 Jan, 2023, 4:09 am

Brazilian iron ore miner Vale announced that more than 13,500 people have so far signed an indemnity agreement to compensate for the damage caused by the failure of the B1 Tailings Dam in Brumadinho and evacuations in other areas.

For people living close to Vale’s dams, safety has been reinforced. For example, in 2022 alone, the company dismantled five more upstream dams, taking the total number to 12 since 2019. As a result, Vale’s Upstream Dam Dismantling Program is now 40% executed. In addition, economic development projects have been supporting the diversification of the economy and expanding tourism in the region.

To carry out these initiatives, the company disbursed a total of BRL 37.2 billion between January 2019 and December 2022, including individual indemnity payments, compliance with the Comprehensive Remediation Judicial Agreement and other reparation measures.

Vale said “The progress of these initiatives and transfers as part of the Remediation Agreement are on schedule and as foreseen by the signatories. In addition to Vale, the state Government of Minas Gerais and several Legal Institutions signed the document in February 2021. Around 300 projects are in the development phase and another 24, aimed at impacted municipalities, are in progress. Of these, nine are in Brumadinho and 15 are in 25 other municipalities in the Paraopeba River Basin. This work includes the structuring of Emergency Rooms to reinforce local health systems and the delivery of machinery for rural road maintenance. The total value of the Agreement is R$37.7 billion, of which approximately R$23.6 billion has been disbursed by the company so far, in amounts adjusted for inflation, equivalent to 58% budget execution.”

Bijlage:

voda 6 februari 2023 09:15

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Newmont wil mijnbouwer Newcrest overnemen in miljardendeal

Bod van 17 miljard dollar.

(ABM FN-Dow Jones) Newmont heeft een bod gedaan op de Australische mijnbouwer Newcrest van circa 17 miljard dollar. Dit werd maandag bekendgemaakt.

Het Amerikaanse Newmont, één van de grootste goudproducenten ter wereld, deed een niet-bindend bod op Newcrest, de grootste beursgenoteerde goudproducent van Australië.

Newmont betaalt 0,380 aandeel Newmont voor ieder aandeel Newcrest. Het bod volgt op een eerder voorstel om het Australische bedrijf over te nemen voor 0,363 aandeel Newmont. Dit voorstel werd door Newcrest verworpen, omdat het bod niet hoog genoeg zou zijn.

Op maandag liet Newcrest weten dat het laatste voorstel wordt beoordeeld.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 14 februari 2023 06:59

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BHP Reports Fatal Incident at Port Hedland

Strategic Research Institute
Published on :
14 Feb, 2023, 4:37 am

Australian iron ore miner BHP’s WA Iron Ore Asset President Mr Brandon Craig said “We can confirm that our colleague who died at our Port Hedland rail yard on Tuesday night was 51-year-old Jody Byrne. Jody joined BHP in 2013 and worked in our Queensland coal and WA iron ore teams. He lived in Port Hedland with his wife Maxine. Jody is survived by his wife, three daughters and four grandchildren. Jody was a respected and valued member of our team and the community, and he will be deeply missed.

He added “Our thoughts and deepest sympathies are with Jody’s family and friends, and we are providing all the support we can to them during this difficult time. We are also providing support to members of the rail team who have lost a colleague and friend in such tragic circumstances.”

Western Australia Iron Ore has suspended operations for 24 hours for a safety stop. The site Incident Management Team has been activated, and police have attended the scene. BHP is working closely with the relevant authorities and we will also undertake a full investigation to understand what has happened.

voda 27 februari 2023 07:11

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Rio Tinto Partners with BMW for ELYSIS™ Aluminium Car Parts

Strategic Research Institute
Published on :
27 Feb, 2023, 3:30 am

Fundamental shift in the automotive market has led to the creation of a new, innovative partnership between Rio Tinto and the BMW Group, leaders in their respective industries who share a common goal of developing more responsible, sustainable, traceable and secure supply chains. Under this new partnership, Rio Tinto plans to provide responsibly sourced aluminium to the BMW Group’s vehicle production plant in Spartanburg, South Carolina, for use in body components from 2024.

Low-carbon primary aluminium from Rio Tinto’s hydro-powered operations in Canada, combined with recycled content, could generate a reduction of up to 70% in CO2 emissions compared to the BMW Group’s benchmark for aluminium.

The two companies have signed a Memorandum of Understanding which will see technical experts working together on how to embed these low-carbon solutions into the BMW Group’s supply chain while ensuring the highest standards of vehicle quality are maintained. The partnership provides for the use of aluminium produced using ELYSIS™ on BMW production vehicles. ELYSIS™ is the world’s first carbon free smelting technology for aluminium as it enables the production of aluminium metal without direct carbon dioxide emissions during the smelting process, instead emitting pure oxygen.

Rio Tinto and the BMW Group will also work to deploy START from Rio Tinto. START provides supply chain traceability to customers and consumers with information about provenance and ESG standards.

voda 27 februari 2023 07:11

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BHP Delivers Strong Results for H1 2022-23

Strategic Research Institute
Published on :
27 Feb, 2023, 3:30 am

BHP Chief Executive Officer Mr Mike Henry said “BHP has today announced a strong first half dividend of 90 US cents per share, on the back of solid operating performance. During the half, we delivered well on the production front, with Western Australia Iron Ore posting another record half. BHP remains the lowest cost major iron ore producer globally. We continued to make strong progress on executing our strategy, including the development of growth options.”

He said “Significant wet weather in our coal assets impacted production and unit costs, as did challenges in securing sufficient labour. Inventory movements during the half contributed to costs, including the planned draw-down at Olympic Dam after inventory built up during the smelter refurbishment last year. We expect these factors to abate in the second half and for unit costs to fall, in line with revised guidance.”

He said “Jansen Stage 1 in Canada is on track for first potash production in late calendar year 2026, and we have accelerated Stage 2 studies. In Western Australia, we are progressing studies to develop options to lift iron ore production to 330 million tonnes per year, supported by our industry leading cost position.”

He added “We are seeing ongoing positive exploration results from Oak Dam, which provides growth potential for our copper business in South Australia. Our offer for OZ Minerals received unanimous support from their Board ahead of consideration by their shareholders.”

He concluded “We are positive about the demand outlook in the second half of FY23 and into FY24, with strengthening activity in China on the back of recent policy decisions the major driver. We expect domestic demand in China and India to provide stabilising counterweights to the ongoing slowdown in global trade and in the economies of the US, Japan and Europe. The long-term outlook for our commodities remains strong given population growth, rising living standards and the metals intensity of the energy transition, including for steel making raw materials.”

voda 27 februari 2023 07:12

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Rio Tinto Delivers Underlying EBITDA of AUD 26.3 Billion

Strategic Research Institute
Published on :
27 Feb, 2023, 3:30 am

Rio Tinto Chief Executive Mr Jakob Stausholm said “We are building a stronger Rio Tinto and delivering against our four objectives. Our operational performance has improved, as evidenced by a number of second half records being set at our Pilbara iron ore mine and rail system. We are also investing for the future, doubling our stake in the Oyu Tolgoi copper-gold project in Mongolia through the acquisition of Turquoise Hill Resources progressing the Rincon Lithium Project in Argentina and reaching milestone agreements that underpin the long-term success of our Pilbara iron ore business.

He said “Despite challenging market conditions, we remain resilient because of the quality of our assets, our great people and the strength of our balance sheet. That is why we delivered strong financial results with underlying EBITDA of AUD 26.3 billion and underlying earnings of AUDD 13.3 billion, after taxes and government royalties of AUD 8.4 billion.”

Rio Tinto delivered first ore from Gudai-Darri, r first greenfield iron ore mine in the Pilbara in more than a decade. The ramp-up continues to progress as planned, with the 43 million tonne per year capacity expected to be reached on a sustained basis during 2023.

Rio Tinto agreed to enter a joint venture with China Baowu Steel with respect to the Western Range iron ore project in the Pilbara, investing AUD 2 billion jointly to develop the 25 million tonne per year capacity project. We have received all primary environmental and Australian Government approvals, while Chinese regulatory approvals continue to progress as planned. The joint venture is anticipated to commence in March, once the operational elements of the JV are in place. Rio Tinto commenced early works site mobilisation and awarded major contracts.

Rio Tinto agreed, together with Wright Prospecting, to modernise the joint venture covering the Rhodes Ridge project in the East Pilbara. The participants have commenced an Order of Magnitude study which will consider development of an operation before the end of the decade with initial plant capacity of up to 40 million tonnes annually, subject to receipt of relevant approvals.

Rio Tinto fired 19 drawbells in 2022 from the Hugo North copper-gold underground mine at Oyu Tolgoi in Mongolia. Drawbell progression accelerated as a result of improvement initiatives, bringing projected first sustainable production from Panel 0 forward to the first quarter of 2023. This followed the comprehensive agreementannounced on 25 January 2022, which reset the relationship between partners and resulted in the start of underground operations.

Rio Tinto completed the purchase of non-controlling interests in TRQ for AUD 3.1 billion2, simplifying ownership of the Oyu Tolgoi mine, significantly strengthening our copper portfolio and demonstrating our long-term commitment to the project and to Mongolia.

Following completion of the AUD 825 million Rincon acquisition, the Board approved AUD 194 million to develop a small starter battery-grade lithium carbonate plant with a capacity of 3,000 tonnes per year. The investment includes early works to support a full-scale operation. Construction activities progressed on phase one camp facilities with rooms for 250 persons completed. Airstrip permits were received and contractors mobilised. First saleable production is expected in the first half of 2024.

voda 28 februari 2023 06:57

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Vale Reports USD 20.9 Billion EBITDA for 2022

Strategic Research Institute
Published on :
28 Feb, 2023, 3:30 am

Vale has reported proforma adjusted EBITDA from continued operations of USD 20.9 billion in 2022, 38% lower than 2021 mainly due to 23.6% lower iron ore fines realized prices. Vale Chief Executive Officer Eduardo Bartolomeo said “In 2022, we made significant progress on our strategic priorities. In safety, we are proud to have eliminated 40% of our upstream structures and removed the B3/B4 dam from the high-risk level.”

He said “In Iron Solutions, we advanced on our path to becoming the supplier of choice for high-quality products, leveraging Vale’s unique mineral endowment and capitalizing on the decarbonization trend of the steel industry. On that, we have announced hubs to develop green solutions in the Middle East and secured MoUs with clients representing around 50% of our scope 3 emissions, expanding the offer.”

He said “On operations, we took concrete actions to deliver on our long-term growth guidance by advancing on the critical milestones we had laid out for the year. In the Southeast, the tailings filtration plants are ramping up, and in the North, we improved orebody knowledge at S11D and, in Q4, commissioned the Gelado project.”

He said “In the Energy Transition Materials business, the operations at Sudbury are now stable, and Onça Puma had its best annual production in the last five years. On Copper, performance has resumed after major maintenance in Salobo and Sossego, and we are off to a great start in 2023.”

He added “Additionally, our robust pipeline of accretive growth progressed with the successful start-up of Salobo III, the approval of Onça Puma 2nd furnace and the signing of partnerships in Indonesia. We have also re-designed the Executive Committee, ensuring a for-fit-for-purpose organizaton with a greater focus on our operations and on developing sustainable solutions for the global energy transition.

He concluded “We strongly believe these actions will continue to uniquely position Vale to benefit from the secular trends of the energy revolution impacting the mining industry, creating sustainable long-term value for all stakeholders.”

voda 28 februari 2023 06:57

0

Canada Can Capitalize on Mining on Moon

Strategic Research Institute
Published on :
28 Feb, 2023, 3:30 am

The Globe and Mail has reported that the splashdown of NASA’s Orion spacecraft last month in the Pacific Ocean may have ended the successful Artemis I mission, but humankind’s return to the moon is just getting started, and with it a fantastic opportunity for Canada. A CAD 100-billion-plus lunar economy beckons, and one of the most anticipated components of that economy is space mining. Once those bases get established, they will require air to breathe and fuel to sustain operations. Producing oxygen and hydrogen from the moon’s ice and dust is more feasible than lugging them back and forth from Earth. So space mining will be necessary.

Amid this urgency, Canada has a competitive edge because know how to mine in isolated locations and experience operating in space. Solutions for mining in deep, remote and extreme environments are as applicable on the moon as they are in the High Arctic. Lessons learned would be complementary, as innovations developed for space mining could also be used to help identify and harvest resources on Earth in a more efficient and environmentally friendly manner.

The Canadian Minerals and Metals Plan specifically calls for the development of a space policy to foster investment and development, as the United States did with its Space Act back in 2015. And the Canadian Space Agency is already funding the development of concepts for space mining.

But mining on the moon could also lend itself to a space supply chain. One of Canada’s contributions to the next phase of space exploration will be to build the Canadarm3 for NASA’s planned Gateway program. This small space station to be placed in lunar orbit could act, in part, as a kind of gas station. Getting out of the Earth’s atmosphere is energy-intensive; before spacecraft go out to Mars or deep space, a fuel-up would be enormously helpful. That fuel would have to be sourced from mining operations on the moon.

The other scientific breakthrough announced last month was a nuclear fusion reaction in a California lab, which generated more energy than it used. Whereas current nuclear technology uses fission, which splits heavy atoms like uranium, fusion does the opposite and joins lighter atoms. Helium-3 is a light and stable isotope of helium that has two protons but, unlike the far more common Helium-4 that we use in birthday balloons, just one neutron. Using Helium-3 in fusion can produce copious clean energy with no radioactivity.

Space mining is indeed the stuff of science non-fiction. It is strategic and necessary, and whoever figures out how to do it first will be rewarded. With the proper supports and policies, that could be Canada, and Canadian companies. It is ours to win, a generational opportunity for Canada and its citizens that would benefit life all around our planet.

Bijlage:

voda 1 maart 2023 07:47

0

BHP Billiton to Sell Daunia and Blackwater Coking Coal Mines

Strategic Research Institute
Published on :
1 Mar, 2023, 3:30 am

Following the completion of the sale of Queensland-based Poitrel and South Walker Creek coking coal mines less than a year ago, Australian miner BHP Billiton has launched another divestment of its coking coal assets. BHP has announced that it would be looking for buyers for its open-cut metallurgical coal mines Daunia and Blackwater. The BHP Mitsubishi Alliance operates seven mines in the Bowen Basin, including those being sold. BMA President Mr Mauro Neves said “The decision is consistent with BHP's strategy to focus our portfolio on the highest quality metallurgical coal assets sought-after by global steelmakers to support greater efficiency and lower emissions in their operations.”

He added “We expect the divestment review process to take up to 18 months, and we will keep our people and the community informed as we progress.”

voda 2 maart 2023 07:38

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BHP Trials Renewable HVO Fuel at Yandi Iron Ore Operations

Strategic Research Institute
Published on :
2 Mar, 2023, 3:30 am

BHP is trialling the use of Hydrotreated Vegetable Oil to help power mining equipment at its Yandi iron ore operations in Western Australia. Supplied through collaboration with bp, the renewable diesel made from HVO will be used in haul trucks and other mining equipment over an initial three-month trial period.

BHP Western Australia Iron Ore Asset President Mr Brandon Craig said “About 40%of BHP’s operational greenhouse gas emissions come from using diesel fuel and this is a core focus of our decarbonisation strategy. Ultimately, our aim is to have fully electric trucking fleets at our sites, but alternative fuels like HVO may help us reduce our emissions in the meantime while the electrification transition takes place.”

voda 8 maart 2023 06:23

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Vale to Turn Gelado Tailings into High-Grade Iron Ore

Strategic Research Institute
Published on :
8 Mar, 2023, 3:30 am

Brazilian miner Vale is turning 37 years worth of mining waste at an iron ore complex in the Amazon into high-quality material to be used in steel production, says Bloomberg

Vale has started extracting scrap that had been dumped at a tailings dam at Carajas in northern Brazil since 1985 as part of a project at its largest iron ore operation. The material, which is rich in iron ore particles, will be processed into feed for a plant that makes pellets to be used in blast furnaces for steelmaking. The $ 485M Gelado project will have an initial production capacity of 5M metric tons a year.

Vale is using all-electric dredges to extract the 140M metric tons of tailings, along with pumps powered by hydroelectricity instead of fossil fuels. After that, the ore undergoes a process that uses magnets to separate ferrous particles from contaminants and improve its quality.

The operation is expected to reach full annual capacity of 10M metric tons by 2026. That could translate into 8.3M metric tons of pellets, or about a quarter of Vale’s total output last year.

[verwijderd] 20 maart 2023 13:40

0

test

voda 23 maart 2023 06:52

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BHP & Hatch Start Design Study for Electric Smelting Furnace Pilot

BHP, a global resources company, and Hatch, an engineering, project management, and professional services firm, have announced an agreement to design a pilot plant for an Electric Smelting Furnace in Australia. This innovative facility aims to demonstrate a new pathway for steel production using iron ore from BHP's Pilbara mines, with lower CO2 emissions. The ESF is a new type of furnace being developed by leading steel producers and technology companies that can produce steel from iron ore using renewable electricity and hydrogen, replacing coking coal.

The demonstration plant will enable BHP to collaborate with steel producers and technology providers to generate and share learnings to accelerate the scale-up of ESF plant designs. The ESF is capable of reducing CO2 emissions by more than 80% compared to the conventional blast furnace steel route. The pilot facility will test and optimize iron production from the ESF, which has the potential to be integrated into a steel plant's existing downstream production units.

The location of the proposed facility in Australia is yet to be determined, based on supporting infrastructure, technology skills, and local partnerships.

voda 28 maart 2023 09:56

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BHP signs CCSU Pilot Agreement with China’s HBIS Group

Mining giant BHP has signed a new agreement with HBIS Group, one of the world's largest steelmakers, to pilot carbon capture and utilization technology. The project will involve pilot-scale demonstrations of carbon capture and utilization technologies at HBIS' steel operations in China, and will develop and test technologies that can be integrated into steel production processes to reduce CO2 emissions.
The trial will focus on three technologies: Vacuum Pressure Swing Adsorption (VPSA), slag mineralization, and biological conversion to protein. VPSA is an alternative technology to capture CO2, while the other two technologies will be used to sequester the CO2. BHP will also support HBIS in developing and deploying absorptive desulfurization at HBIS ZXHT Hydrogen Metallurgy Demonstration Project in Xuanhua, Hebei, which aims to enable the utilization of 60,000 metric tons per year of captured CO2 from the Direct Reduced Iron process in the food or industrial sectors.

The new agreement builds on the work streams envisaged in the Memorandum of Understanding signed by BHP and HBIS in 2021, together with the Phase 1 research and development work announced in 2022 with HBIS and University of Science and Technology Beijing. BHP has also supported HBIS in Enhanced Lump trials, aimed at developing processes for improving direct feed iron ore lump use to achieve incremental reductions in carbon dioxide emissions intensity of steel production, at one of the steelmaker's plants in Hebei province.

The latest collaboration agreement with HBIS will tap into the investment of up to $15 million over three years proposed by BHP and HBIS in the MoU signed in 2021.

BHP's Chief Executive Officer, Mr. Mike Henry, said the collaboration between BHP and HBIS "will provide a strong example for the industry to follow towards the wider deployment of CCUS and towards achieving major reductions in the CO2 emission intensity of steel production".

HBIS Chairman Mr. Yu Yong said, "CCUS has been identified as a breakthrough technology for reducing carbon emissions from steel and this has anchored CCUS technology as a key component in HBIS Group's low-carbon technology roadmap. In the future, HBIS will continue to focus on the goal of jointly addressing climate change, deepening cooperation with industry value chain partners, adhering to the concept of sustainable development, and consistently cultivating and investing in the green and low-carbon field".

voda 30 maart 2023 10:21

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Vale Signs 7 MoUs in China to Lead Decarbonization if Steel & Mining

Vale, a Brazilian mining company, has signed seven agreements with various Chinese partners to strengthen its strategic agenda and relationship with China. The agreements include a Project Investment Agreement for the Morowali project, two agreements to support the company's decarbonization agenda in partnership with a Chinese client and a Chinese supplier, two comprehensive strategic cooperation Memorandums of Understanding with leading Chinese banks, and two agreements to strengthen cooperation with Chinese universities.

One such announcement involves a cooperation agreement with Baoshan Iron & Steel, a subsidiary of China Baowu, to develop and apply biochar in the steel industry. Biochar is produced from biomass and has the potential to replace coal in steelmaking, thereby reducing carbon emissions in the process. While there are currently no industrial applications of biochar in steel mills in China, the sector considers biomass energy a strategic technical route to low-carbon metallurgy. Vale sees this technology as essential to achieving its goal of reducing scope 3 emissions by 15% by 2035.

Vale's subsidiary in Indonesia, Taiyuan Iron & Steel Co. and Shangdong Xinhai Technology will construct a Rotary Kiln-Electric Furnace ferronickel processing plant with a minimum annual production of 73,000 metric tons of nickel,

In addition, Vale has signed a memorandum of understanding with XCMG, China's largest group of companies in the construction machinery industry, to co-develop the world's first zero-emission motor grader for mining activities. The equipment, which is used to level mine accesses, will be tested in Brazil's states of Minas Gerais and Pará. If approved after testing, Vale intends to acquire several models over the next few years, as it currently operates a fleet of 90 motor graders. Vale is also testing two electric off-highway trucks manufactured by XCMG, with the replacement of fuel-powered equipment with electric or low-emission models being fundamental to achieving the company's goal of reducing its scope 1 and 2 emissions by 33% by 2030.

Vale also signed MoUs with Industrial and Commercial Bank of China and the Bank of China to support its business development, and strengthen partnerships.

Moreover, Vale has signed a cooperation agreement with Central South University too strengthen their technical cooperation. This follows a donation agreement announced in February, in which Vale pledged $5.81 million to support CSU in establishing a new lab for low-carbon metallurgy and hydrogen. Under the new cooperation agreement, Vale will work with CSU on research into low-carbon sintering and pelletizing, high-efficiency ironmaking, and H2 utilization.

Finally, Vale has signed a four-year partnership agreement with Tsinghua University to support the Academic Center for Chinese Economic Practice and Thinking (ACCEPT). Founded by Professor David Daokui Li, a renowned Chinese economist, in April 2018, ACCEPT focuses on research into government and market economics, promoting economic research with Chinese characteristics. Vale's partnership with ACCEPT began in April 2019 and aims to deepen the understanding of China's economic practice and thinking.

These announcements demonstrate Vale's commitment to sustainability and reducing its carbon footprint through partnerships with leading institutions and companies. By investing in sustainable technology and supporting research into low-carbon metallurgy and hydrogen, Vale is working to achieve its emissions reduction targets and promote a more sustainable future for the mining industry.

voda 3 april 2023 15:49

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Overnamebod Glencore afgewezen door Teck

Waardering van tientallen miljarden.

(ABM FN-Dow Jones) De Canadese mijnbouwer Teck Resources heeft een overnamebod van Glencore afgewezen. Dit bleek maandag.

Het overnamebod is één van de grootste overnamepogingen in de mijnbouwindustrie in jaren en waardeert Teck op zo'n 31 miljard Canadese dollar, of 23 miljard Amerikaanse dollar.

Het Anglo-Zwitserse mijnbouwbedrijf zei dat de overname 4,25 miljard tot 5,25 miljard dollar aan synergieën zou opleveren.

Teck meldde maandagochtend dat het vijandige bod van Glencore is afgewezen en dat het niet van plan is mee te werken aan een overname.

Glencore biedt 7,78 aandelen Glencore per B-aandeel Teck en 12,73 aandelen per gewoon A-aandeel Teck. Dit zou volgens Teck een premie opleveren van 20 procent.

Teck heeft veel kopermijnen in portefeuille.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

nine_inch_nerd 3 april 2023 17:44

0

^^
Wie had laatst ook weer Teck geadviseerd om in te stappen? Werd behandeld bij een podcast...
Toevallig zeg. ;)

voda 10 april 2023 09:15

0

Iron Ore Giants Forge Deeper Ties with Baowu

World’s 3 iron ore giants BHP, Vale and Rio Tinto Chief Executives visited Baowu in Shanghai to discuss potential cooperation opportunities and challenges in the mining and steel industry, as well as to exchange views on the global economic outlook. Baowu's Chairman, Mr. Chen Derong, met with BHP's CEO, Mr. Mike Henry, and his delegation on March 28, followed by a meeting with Vale's CEO, Mr. Eduardo Bartolomeo, and a delegation led by Rio Tinto CEO Mr. Jakob Stausholm on March 31. During the meetings, the executives discussed the current development of their companies and the industry situation, as well as future cooperation opportunities in carbon reduction technology and business under the background of carbon neutrality.

"Baowu is fully committed to achieving low-carbon transformation and green development, in line with the recent speech delivered by President Xi Jinping at the UN General Assembly. As a leading company in the steel industry, we recognize the significant disruption that low-carbon technologies and green development present to the traditional value chain. Therefore, we are taking an active role in implementing these technologies and working closely with our upstream and downstream partners to achieve a sustainable transition. Furthermore, I want to emphasize that Baowu's demand for iron ore will increase in the future, based on our development strategy. We will continue to promote joint reorganization and increase industrial concentration to improve the industry's order and standardize small and scattered industries. Moreover, countries and regions along the 'Belt and Road' offer huge potential for per capita steel consumption, and we plan to implement the national initiative and 'go out' to promote international layout," said Mr. Chen Derong, Chairman of China Baowu.

"As a leading mining company committed to sustainability, BHP is pleased to collaborate with China Baowu to develop innovative solutions that can help achieve our shared goal of reducing emissions and promoting green development. We recognize the potential of low carbon fuel sources like hydrogen injection in blast furnaces and other low emission options to support the steel industry's transition to a more sustainable future. Through our partnership with Baowu, we aim to develop technical solutions that leverage these technologies and contribute to the low carbon transformation of the steel industry,” said Mr. Mike Henry, CEO of BHP.

According to Mr. JS Jacques, Rio Tinto's Chief Executive, the investment partnership with Baowu is of great significance, as it has the potential to substantially reduce carbon emissions associated with current steelmaking processes. He stressed the importance of developing future technologies to support the steel industry's transition towards a low-carbon economy. Mr. Jacques also highlighted the value of the partnership in sharing resources and utilizing the strengths of the respective teams to make progress towards establishing a low-carbon steel value chain.

Vale's CEO, Bo Anduo, expressed his appreciation for Baowu's long-term support and stated that “I would like to express my gratitude to Baowu for its long-term support to Vale, especially as we celebrate the 50th anniversary of our first shipment of iron ore to China. Vale is committed to promoting green and low-carbon development, and we are continuously reducing our carbon footprint. Baowu is the world's largest steel company, and we highly value our cooperation with them. Moving forward, we hope to strengthen our communication and collaboration, discuss specific projects, expand our cooperation areas, innovate our methods, deepen our relations, and achieve a new level of cooperation. As the chairman and CEO of Vale, I am willing to work with Baowu's leadership team, representatives of the production and operation department, and other related personnel to jointly participate in and promote this plan."

voda 21 april 2023 08:41

0

Nikkelproductie Glencore flink afgenomen

Wel iets meer kobalt.

(ABM FN) Glencore heeft in het eerste kwartaal vooral minder nikkel geproduceerd. Dit bleek uit productiecijfers die Glencore vrijdag publiceerde.

De nikkelproductie liep op jaarbasis terug met 32 procent. Ook werd er 31 procent minder zilver geproduceerd.

De productie van lood en zink daalde met 16 en 15 procent.

Wel werd er door Glencore 8 procent meer kobalt geproduceerd.

De productiecijfers waren volgens Glencore zoals verwacht. Er werden door de grondstoffengigant enkele zink- en loodmijnen in de Amerika's gesloten gedurende 2022.

Glencore herhaalde de productieverwachting voor heel 2023.

Door: ABM Financial News.

pers@abmfn.be

Redactie: +32(0)78 486 481

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