Eramet produces first lithium from Centenario plant in Argentina
Eramet becomes the first European company to produce lithium carbonate at an industrial scale.
Australian Financial Review (sub required) reports the state government has scrapped plans for a A$9 billion (US$8.85 billion) coal terminal expansion after world number three miner Rio Tinto withdrew from the project at Queensland’s Abbot Point, Australia in April.
The $9 billion project approved by the state government in December, was designed to up the port’s coal export capacity to 385 million million tonnes – a more than sevenfold increase from the current annual tonnage. The minister responsible said funding issues and environmental regulations were to blame for the decision.
Platts quoted a Rio Tinto official at the time as blaming “changes in the economic environment and the commitments required to progress this option” as reasons for pulling out.
Bloomberg reports thermal-coal buyers in China are pushing to have shipments delayed – by as much as two weeks – as stockpiles in the country grows.
While coal for the power-generation industry benchmark for Asia fell to $95.95 a tonne on Monday, the lowest since October 2010, metallurgical coal – a vital ingredient for steelmaking – seems to be holding up better.
Coking coal has been trading steady this year around the $200 a tonne level, down from a temporary spike above $300 a tonne following floods in Australia early 2011.
According to researcher Wood Mackenzie’s principal metallurgical-coal analyst quoted by The Australian on Monday prices are “well-supported at current levels” and a slow rise in the near-term is likely.
The announcement follows news last week that BHP Billiton, the world’s largest miner, has put the brakes on $80 billion of capital expenditure.
Read more about what some are calling the end of supercycle >>
Comments
Idm
Hello, I am a Mining Engineer and i work with company called Carbones del Guasare, it is industry of coal. In this moment there is a produtcion low, but our coal is excellent quality. i wish any help for knowloged and better for my job and the company.
thanks