Lithium use in electric cars sold around the world surges 76%

The British Geological Survey (BGS) on Wednesday published the latest list of the 52 elements, minerals and metals most at risk of supply disruption because global production is concentrated in a few countries, many with unstable governments. Surprisingly rare earths used in green technology and defence do not top the list but comes in at number five. Antimony, extracted mainly from stibnite (pictured), widely used for fireproofing is most at risk. The platinum group metals (auto catalysts) hold the second spot while niobium used in touch screens and scanners and tungsten for cutting tools are also at risk of supply disruption as a result of increased competition among the world's growing economies, political instability, resource nationalism, along with events such as strikes and accidents. China is the number one producer of 50% of the 52 chemicals on the list and produces 75% of the world's antimony.

China plans to dramatically consolidate the number of mines in its country, according to Caterpillar (NYSE:CAT) and a study by MCCM. And China also wants its mines to be a lot more productive. Caterpillar released the results of a study in August. In 2004 China had 25,000 operating mines. By the end of 2013 China wants to get that number down to 4,000 mines. A minimum production of 300,000 tonnes per annum will be required for mine approval.

Mining investments could reach $2.8 billion in the Philippines this year if Chinese investors proceed with plans to jointly develop mining projects in the country, a senior mining official said Tuesday. There is a good chance that an initial target of $1.4 billion could be doubled if Chinese investors follow through in the last quarter on investments they have expressed interest in, Mines and Geosciences Bureau director Leo Jasareno said.

Chinese business leaders have warned of an investment strike over a decision by Treasurer Wayne Swan to impose a two-stage foreign approval process for resource exploration and mining.

London copper prices rose 1.3% to $8,869.50 a tonne n Tuesday on reports that China could bolster Italy's flagging economy by buying its bonds. In the previous session, copper – considered a good indicator of economic activity – was dragged to a one-month low after Chile’s Codelco, the world’s largest producer, said some of its clients in the United States and Europe have asked to cancel orders. Italy has asked China to make "significant" purchases of Italian debt, the Financial Times reported on its website on Monday, saying that the chairman of China Investment Corp, headed up a delegation to Rome last week. Meanwhile Greek workers threatened to sabotage a new property tax, a last-ditch effort by the government to please international lenders and the US treasury secretary flies to Poland to meet with EU finance ministers on the Greek crisis.

Shares in China-focused miner Silvercorp Metals slumped over 7% on Monday after British Columbia security regulators said they were joining the investigation into an anonymous letter accusing the company of a $1.3 billion fraud. Silvercorp was forced on Friday 2 September to make public the letter and at the same time disclosed that someone had built up a short position of 23 million shares – more than 13% of the number outstanding. The firm with projects in China and Canada plunged after the news broke and Monday's drop brings year to date losses close to 40% despite the firm's ongoing buyback programme.

Asian and Australian markets were down on Monday. The Shanghai Stock Exchange was down -0.03%; the Nikkei tumbled -2.31% and the Hang Seng Index fell -4.21%. The S&P ASX 200 was also down by -3.72%. Commodities were all down due to worries about the Euro Zone crisis and concern about sluggish worldwide growth. Copper was off -1.8% to US$8,665/ton.

Reuters reports prices of most rare earth elements – used in consumer electronics, defence and green energy industries – have risen since Wednesday after of local government crackdown on mining, with three major producers slated for closure. The news follows an announcement from the EU that it is building a stockpile of a variety of REEs and that a high-level meeting of officials from Europe, the US and Japan will take place in Washington early next month to discuss supply security. The price of some REEs such as samarium oxide used in jet fighter electrical systems has increased 25-fold in just three years.

China will eventually become a net importer of aluminum but the timing of this shift is uncertain, the chief executive of Rio Tinto Alcan said Thursday.