Daryo Central Asia & Afghanistan’s Post

The ongoing hostilities in Ukraine remained the key factor determining the situation in the local mining industry in 2023. Constant threats of shelling, difficulties in securing key resources, limited export sales opportunities and extremely low domestic consumption of raw materials all significantly undermined the segment’s recovery potential. The situation was also aggravated by the stagnation of the steel industry in the EU countries, which essentially remained Ukraine’s only sales destination for most of the year. But at the end of 2023, the sector’s players managed not only to stabilise their operations somewhat but also create a solid foundation for further recovery. https://lnkd.in/eNPsYMti   #Ukraine #ironore #pellets #export #results #logistics #challenges #war #Russia

Nigeria's iron ore reserves have the potential to significantly boost the economy. With the right investments in infrastructure and regulatory support, we can unlock this valuable resource for sustainable growth. More here: https://lnkd.in/dpmMnyZA #NigeriaIronOre #EconomicDevelopment #MiningIndustry #SustainableGrowth

Industrial #Commodity #narratives 30/01/24: - Calls for US response to Iran proxy attack on Tower 22 near Syrian border grow. Sen Graham writes "Hit Iran. Hit them hard"; Sen Cornyn writes "Target Tehran". USNC Kirby says "We are not looking for war with Iran" but "We want these attacks to stop". - Clarksons warns "theoretically, LR2 spot rates might soar above $220,000/day" which would raise shipping rates from $9bbl to $19bbl - Freeport Energy says one of three LNG production units will be out of action for about a month due to extreme cold damaging equipment. - Bloomberg reports that top copper smelters in China are calling for sector-wide production curbs in response to the plunge in copper treatment charges to near-record lows driven by tighter mine supply driven by the halt in operations at First Quantum's Cobre Panama copper mine. - Vale posts larger than expected Q4 iron ore production at 89.4mt versus 83mt Bloomberg consensus.

South Africa mines about 110 metric tons of platinum per year. 2,200 miners are currently on strike with the Bafokeng Rasimone mine because they do not want to release to the miners a profit sharing bonus of 104 million rand. Let's take a look at how much money this mine made last year. One metric ton is 35,274 ounces. An ounce of platinum is about 18,000 rand ($980 USD). That means that the owners of the mine made around 69 billion rand. Colonialism is over. #africa2023 https://lnkd.in/gXJmPkZ3

17th Arab Steel Summit will be held on 14-15 October 2024! Arab Iron and Steel Union is organizing its annual conference, “17th Arab Steel Summit,” on 14 -15 October 2024, in Doha, Qatar, at Sheraton Doha Hotel. Which is of particular importance in light of the economic, geopolitical, and climatic changes that the world is witnessing. In addition to their ample impact on the iron and steel industry in the Arab world and globally, it is considered one of the strategic and primary industries in light of efforts to raise the contribution of the mining and the iron and steel sector level to the gross domestic product. Click for more ➡ https://lnkd.in/dyMXxZEY TR ➡ https://lnkd.in/dt7hnkiz

Have you heard of the Simandou iron ore project? After nearly three decades, Rio Tinto is set to embark on the monumental project in Guinea. This ambitious endeavour, believed to be the world's largest and highest-grade new iron ore mine, promises to impact the global seaborne supply, with a potential 5% boost. The journey towards this historic development involves partnerships with the Guinean government and several companies, including five from China. Click the link below to discover how this project, after geopolitical shifts and technical complexities, aims to redefine steelmaking and contribute to decarbonisation. bit.ly/47RhGUk #seventyninthresources #guinea #simandou #riotinto

Africa Continent’s seaborne #ironore shipments during October 2023 increased 9% y/y, S&P Global Commodities at Sea data shows, the said increase comes from South Africa (13%), #Mauritania (15%), and Sierra Leone (45%). For 2024, S&P Global Commodity at Sea Insights forecast an overall increase in African iron ore supply with the new iron projects in #Gabon as well from South Africa on the recently announced #Transnet Recovery Plan.

Spot cobalt prices just dropped below $25k/t...lower than the level we saw during the COVID crash. See the chart below. The market remains well oversupplied with CMOC ramping production at its Kisanfu (KFM) and Tenke Fungurume (TFM) mines, which could jointly have output as high as 100kt this year, compared with 2023 output of 56kt. According to Bloomberg, the Democratic Republic of the Congo (#DRC) government is sounding out advice from international industry organisations over measures to push cobalt prices higher, including through potential export quotas. The DRC has banned the export of #copper and #cobalt concentrate several times since 2013 to encourage domestic processing.  For example, in 2022-2023, the DRC put an export ban on China's CMOC during a dispute over royalty payments. This could get interesting... https://lnkd.in/er698ifQ

Extraction at a depth of 250 meters Underground mine Iran

In October 2023, the European Union increased imports of iron ore from Ukraine by 9.2% compared to the previous month – to 1.21 million tons. In January-October, the European Union imported 11.58 million tons of iron ore from Ukraine. The largest importers of Ukrainian iron ore among the EU countries in January-October 2023 were: Czech Republic – 3.59 million tons; Poland – 2.89 million tons; Slovakia – 4.19 million tons; Hungary – 218.5 thousand tons. Read more here🔽 https://lnkd.in/dmmubWaQ #GMKCenter #Ukraine #mining #iron #ore #import #logistics #war #prices #markets #concentrate #EU #Europe