The EIA in their STEO expect 22% more U.S.Coal Fired Generation in 2021 over 2020. The increase is from soaring higher natural gas prices. While Coal prices have risen unabatted with supply chain disruptions globally there have risen less than gas in the US.
Australian mining giant Rio Tinto Group (RIO) on Friday reduced its 2021 Pilbara iron ore shipments forecast as the COVID lockdowns, Supply crunch were further hampered by a tighter labour market in Western Australia. These have all led to a delay of the completion of a new greenfield mine at Gudai-Darri.
Australian mining giant Rio Tinto Group(RIO)on Friday announced it is delaying first production for the Oyu Tolgoi copper mine in Mongolia by three months to January 2023. $RIO is developing the mine with Canada’s Turquoise Hill Resources (TRQ.TO) in a joint venture.
Coal prices have risen unabatted with supply chain disruptions, China has been partiucarlt bad hot and that just got more critical. Floods closed 60 of the 682 coal mines in Shanxi province, 30% of China’s production.
Coal prices have soared with supply chain disruptions, the Chinese trade war with Australia and material shortages. By September 2021 thermal coal price have tripled from a year ago seeing Glencore’s ebitda run rate soar with prices.
The new London Metal Exchange alumina contract will be settled in part by using data from the Fastmarkets MB index, with shared weight given to the CRU’s Alumina price index.
The Australian state of Queensland will unveil proposed resource regulations and an “insurance fund” to pay for the remediation of old mines. The aim is for resource companies, not taxpayers, to pay for the rehabilitation of the environment.
Norway’s aluminium producer Norsk Hydro reported higher than expected earnings on Tuesday boosted by higher aluminium and alumina prices. $NHYDY results came after both Alcoa and Aluminum Corp of China warned on tariffs and trade. Brazil still weighs.
The much heralded driverless AutoHaul Iron Ore Trains have made their first delivery since Rio Tinto was approved for autonomous delivery back in May at a cost of $940 million. The 280 km trip carrying 28,000 metric tons was completed Tuesday.
Mining giant Rio Tinto has been approved by the Australian Office of the National Rail Safety Regulator to operate the world’s first heavy haul, long distance autonomous rail operation for it’s ironore operatioin in Western Australia. $RIO says AutoHaul will improve safety, productivity and lower costs.