GLOBAL NEWS
GLOBAL NEWS
JAPAN:
MINING IN FREEFALL
In contrast to its high demand for metals and minerals,
Japan’s domestic industrial production is almost negligible,
and has been collapsing over the last two decades. The
country’s Metal Mining Agency (MMA) reported that
between 1970 and 2001, the number of operating mines fell
from 246 to 14, and the number of people employed in the
mining sector fell from 34 000 people to just 405 over
this period.
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According to GlobalData’s mining technology writer, JP
Casey, declining employment and falling production
have contributed to a significant decline in the economic
output of the country’s mining sector, with government
figures noting that the GDP contribution of mining fell from
USD2.7-billion in 2009 to USD1.9-billion in 2016.
“However, there remains potential for future mining
developments in the country. Japan has the highest reserves
of iodine in the world at five million tons and is the world’s
second-largest producer of the element, behind Chile. These
strong reserves could be turned into a profitable enterprise
in the future.
“Despite these positives, there is uncertainty regarding the
future of Japan’s mining sector. In 2012, the government
reformed its mining act for the first time since 1950,
effectively tightening restrictions on the ability of the
Ministry of Economy, Trade and Industry (METI) to award
mining permits.
“The older legislation enabled the METI to award permits
on a first-come-first-served basis, but the new law creates
a distinction between ‘specified minerals’, those deemed
critical to the national economy, and other minerals; these
specified minerals include commodities such as oil and
natural gas, and are given priority over non-specified
minerals when the METI awards mining permits.
“In practice, this could mean Japanese industry focuses on
these few priority minerals, ignoring potential long-term
mining projects, such as the development and exploitation
of the country’s iodine reserves.”
RUSSIA:
KINROSS COMPLETES
ACQUISITION
Chulbatkan is located in the Khabarovsk region of Far East
Russia, approximately the same distance from the company’s
regional office in Magadan as its existing Kupol and Dvoinoye
operations.
EUROPE:
SMALL MINING PROJECT IS
BREXIT-PROOF
By developing technology innovation and rethinking
business models, a new EU-funded project hopes to improve
the commercial viability of mining modest but high-grade
critical raw mineral deposits across Europe.
According to Heidi Vella, GlobalData’s mining technology
writer, the manufacture of many modern technologies is
reliant on the supply of several key metals and minerals. “The
European Union (EU) has highlighted their importance in a
list of ‘critical raw materials’ that includes antimony, vanadium,
tungsten, tantalum and 23 others,” says Vella.
TSX listed Kinross Gold Corporation has completed the
acquisition of Chulbatkan, a high-quality, heap leach
development project in Russia, from N-Mining for
USD283-million.
Kinross has now commenced a comprehensive exploration
drilling program at Chulbatkan with the view to update the
current resource base at year-end 2020. Kinross expects to
spend about USD10-million on initial exploration drilling at
Chulbatkan during the year. The company is also planning
to convert estimated mineral resources to estimated mineral
www. africanmining.co.za
reserves, complete pre-feasibility and feasibility studies for
the project within approximately three years and is targeting
a subsequent two-year construction period.
African Mining Publication
To ensure security of supply, a new UK-based project aims
to help small to medium-sized mining companies exploit
Europe’s own resources of these critical raw minerals that can
be found in smaller-scale but high-grade deposits.
Supported by EUR7-million funding from the EU’s Horizon
2020 programme, the IMP@CT project proposes a new
switch-on / switch-off mining paradigm that researchers say
can improve the commercial viability of modest deposits.
The IMP@CT project will be presented at the end of
November at the Horizon 2020 success stories conference in
African Mining
African Mining February 2020
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