Tag Archives: Small Metals / Minerals

UPDATE 1-Contractor asked Australia to review asset sale to Tianqi Lithium China | Instant News


(Change date, add timeline, add contractor’s comments)

MELBOURNE March 11 (Reuters) – An Australian mining services contractor locked in a legal dispute with China’s Tianqi Lithium Corp over a failed payment has asked the Foreign Investment Review Agency to examine the related sale, a company director said on Thursday.

Perth-based MSP Engineering has asked the FIRB to review part of the sale of Tianqi’s Australian lithium business to nickel miner IGO after Tianqi refused to pay him to build a battery-grade lithium processing plant in Western Australia.

This week, the Western Australian Supreme Court ruled that Tianqi, one of the world’s largest producers of the lithium chemical used in electric vehicle batteries, must pay A $ 38.9 million ($ 30 million) in arrears. Tianqi said he would appeal.

The FIRB application comes at a time when trade tensions between China and Australia are rising.

“If we are not completed as part of that sale, then we don’t think it represents the right behavior by foreign investors,” director Craig Burton told Reuters.

MSP has had to stop other lines of business from paying its contractors and subcontractors for months of work and has reduced its staff to four out of 400 employees pending payment, he said.

“This has a bad impact on our business. We just want Tianqi to do the right thing and pay the money spent on the project. “

Tianqi said in a filing on Wednesday that it would challenge the verdict that has given up to March 15 to pay money, including principal and interest. His counter claims included that the project was over budget.

The FIRB did not have any comments yet. The IGO declined to comment.

Tianqi’s assets include a 51% stake in the Greenbushes lithium mine and a 100% stake in the Kwinana lithium plant.

The facility was heralded as the largest of its kind before the first phase commissioning of 24,000 tonnes was halted a year ago as Tianqi flagged liquidity problems due to plunging lithium prices.

The debt-laden company in December secured a strategic investor in the form of Australian nickel miner IGO Ltd for 49% of its business, paving the way for a $ 3 billion loan extension.

Tianqi warned that filing the verdict could adversely affect the liquidity and factory of Kwinana.

The facility is likely to start operating in the fourth quarter of 2021, Daiwa Capital Markets said in a January note, citing Tianqi management at a conference.

Tianqi did not immediately respond to a request for comment about the intended launch date.

$ 1 = 1.2932 Australian dollars Report by Tom Daly and Melanie Burton at MELBOURNE; Edited by Mark Potter and Stephen Coates

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Pilbara Minerals Australia’s half-year earnings surged as the lithium market rebounded | Instant News


February 19 (Reuters) – Pilbara Minerals Ltd Australia on Friday reported a half-year revenue spike of more than 56% and showed bullish market conditions for lithium as its losses narrowed from the previous year.

The lithium market looks set to come out of a three-year slump, driven by rising demand for electric vehicles (EVs) from China that has helped support the price of the minerals used to make EV batteries.

Australian lithium miners, who together account for about half of the world’s supply, have started showing signs of improvement with record spodumene shipments in the December quarter and project acceleration.

“The lithium feedstock market is now clearly on an upward trend as it relates to demand and prices, which now translate into better spodumene prices,” said Pilbara Managing Director Ken Brinsden.

The company said shipments of spodumene concentrate for the six months to December 31 more than doubled to 114,239 dry metric tons.

That helped revenue jump 56.5% to A $ 59.1 million ($ 45.9 million), while after-tax losses narrowed to A $ 21.2 million from A $ 63.4 million a year earlier.

Banking on a rebound in lithium prices, Wesfarmers and Chilean miner SQM earlier this week approved a final investment decision for their Mt Holland lithium project in Western Australia. ($ 1 = Australian dollars 1.2882) (Reported by Shashwat Awasthi in Bengaluru; Editing by Vinay Dwivedi)

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Brazilian miner CBMM seeks to sell 45,000 tonnes of niobium oxide by 2030 | Instant News


RIO DE JANEIRO, February 9 (Reuters) – Brazilian mining company CBMM hopes to sell about 45,000 tonnes of niobium oxide by 2030, turbocharging growth from just 100 tonnes this year, targeting demand from electric vehicle makers, the company’s vice president told Reuters on Tuesday. .

Niobium oxide, a rare metal, can be used in battery production, a market expected to explode in the next few years, driven by demand from electric vehicle manufacturers.

Ricardo Lima, vice president of CBMM, said in an interview that niobium oxide sales would increase representing about 25% of the company’s revenue by 2030 if forecasts were met.

Lima added that CBMM is already the market leader in niobium oxide sales, although much of it has not yet been marketed for battery manufacturing.

He said the company has a 50% share of the worldwide market in other metal uses, including making lenses and superconductors for MRI machines. (Reporting by Marta Nogueira; Editing by David Gregorio)

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The supply of the Roche ship from Germany to make up for the shortage of British tests | Instant News


ZURICH, Oct 8 (Reuters) – Swiss drug and diagnostics group Roche is sending supplies from Germany to help the UK’s National Health Service (NHS) fill a gap caused by logistical errors at Roche’s warehouse in southern England, he said on Thursday.

Roche, a major supplier of COVID-19 and other diagnostic tests to the NHS, told UK customers on Wednesday that the switch from an old warehouse to a new automated distribution center had caused unexpected technical problems regarding processing capacity.

“We are confident that the plans we have made will provide significant improvements over the weekend for test supplies affected by this logistical problem,” Roche said on Thursday, repeating his schedule from Wednesday.

“This plan includes the introduction of additional changes to the warehouse and temporary direct delivery to customers in the UK and Ireland from our warehouse in Mannheim, Germany,” a spokesman said by email.

The NHS said on Wednesday that it was aware of a possible shortage of reagents supplied by Roche Diagnostics Ltd due to problems in its supply chain.

Experts say supply disruptions affect diabetes tests, magnesium levels tests and other materials such as supplies for blood gas analyzers which are essential for the treatment of respiratory diseases, including COVID-19.

Roche said the problem only affected Britain and Ireland and that the error did not affect his ability to supply COVID-19 tests in the UK. (Reporting by Paul Arnold, Written by Michael Shields, Editing by Mark Potter)

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The supply of the Roche ship from Germany to make up for the shortage of British tests | Instant News


FILE PHOTOS: Logo of Swiss drug manufacturer Roche seen at its headquarters in Basel, Switzerland February 1, 2018. REUTERS / Arnd Wiegmann / File Photo

ZURICH (Reuters) – Swiss drug and diagnostics group Roche is sending supplies from Germany to help the UK’s National Health Service (NHS) fill a gap caused by logistical errors at Roche’s warehouse in southern England, he said on Thursday.

Roche, a major supplier of COVID-19 and other diagnostic tests to the NHS, told UK customers on Wednesday that the switch from an old warehouse to a new automated distribution center had caused unexpected technical problems regarding processing capacity.

“We are confident that the plans we have made will provide significant improvements over the weekend for test supplies affected by this logistical problem,” Roche said on Thursday, repeating his schedule from Wednesday.

“This plan includes the introduction of additional changes to the warehouse and temporary direct delivery to customers in the UK and Ireland from our warehouse in Mannheim, Germany,” a spokesman said by email.

The NHS said on Wednesday that it was aware of a possible shortage of reagents supplied by Roche Diagnostics Ltd due to problems in its supply chain.

Experts say supply disruptions are affecting a variety of tests including those for magnesium levels and other substances such as supplies for blood gas analyzers which are essential for the treatment of respiratory diseases, including COVID-19.

Roche said the problem only affected Britain and Ireland and that the error did not affect his ability to supply COVID-19 tests in the UK.

Roche’s diabetes care products are not affected because they use a separate warehouse in Bedfordshire, a spokesman said.

Reporting by Paul Arnold, Written by Michael Shields, Editing by Mark Potter, Kirsten Donovan

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