Bloomberg reported that Malaysia plans to ban bauxite mining for three months in order to cut down on pollution. Malaysia is the biggest supplier of bauxite to China.
As quoted in the publication:
The ban takes effect from Jan. 15 in Pahang, the largest producing state, Wan Junaidi told reporters. Exports will be allowed during the moratorium to reduce port inventories, and after the suspension the government will limit bauxite production to the capacity to ship the material, he said on Wednesday.
Malaysia supplied more than 40 percent of China’s imports of the aluminum-making raw material last year after Indonesia imposed a ban on shipments in January 2014. China produces about half the world’s aluminum used in everything from aircraft to door frames and drink cans. The country’s exports of the metal and its products surged 36 percent in November from the previous month, helping push global prices down 19 percent in 2015.
Analysts say American Lithium‘s (TSXV: LI; NASDAQ: AMLI) Tonopah project in Nevada could run at world-beating costs based on a new study including the sale of by-product magnesium. The operating cost of the Tonopah Lithium Claims (TLC) project, about 340 km no … Read More
Concern is growing over the federal government’s seeming inability to leverage Canada’s vast natural resource endowment as it navigates the uncertain global geopolitical and economic landscape, an industry event in Vancouver heard this week. Besides examining … Read More
Copper price retreated on Wednesday as weak demand offsetted speculative bets that the end of covid Zero will reignite growth. Copper for delivery in March fell on the Comex market in New York, touching $4.11 per pound ($9,042 per tonne), down 2.7% compared … Read More
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