How Much #Copper is an #EV? #Infographic

Infographic: How Much Copper is an Electric Vehicle?

on November 13, 2018 at 12:02 pm

Copper's special relationship with electricity has been apparent since ship designers first regularly began installing copper to protect the masts of wooden ships from lightning in the early 19th century.

Today, of course, you might be more used to seeing copper's electrical applications through the use of power lines, telephone wires, and wiring in practically every major home appliance you own.

Millions of tons get used for these applications every year, but it is still early days for copper's use in electrification. That's because copper will continue to be a critical component of the green energy revolution, thanks to the rising adoption of battery-powered vehicles.

#Egypt #Mining: Minster sends Mineral #Resources Act to Parliament for review , hoping to end current outdated framework better suited to oil & gas

the amendments were made primarily to draw investments in the flagging mining sector, which holds world-class potential, but is hobbled by an outdated economic framework better suited to the oil and gas industry. El Molla noted that the ministry will begin immediately implementing the reforms laid out by consultancy Wood Mackenzie as soon as the House passes the amendments. 

Mineral Resources Act sent to House for review

Monday, 19 November 2018

LEGISLATION WATCH- Amendments to Mineral Resources Act sent to House: The government has sent long-awaited draft amendments to the Mineral Resources Act to the House of Representatives for review, Oil Minister Tarek El Molla said. El Molla reiterated that the amendments were made primarily to draw investments in the flagging mining sector, which holds world-class potential, but is hobbled by an outdated economic framework better suited to the oil and gas industry. El Molla noted that the ministry will begin immediately implementing the reforms laid out by consultancy Wood Mackenzie as soon as the House passes the amendments. Wood Mackenzie had been contracted by an affiliate of the Oil Ministry to lay out an appropriate development strategy for the sector.

El Molla expects the law's executive regulations will be issued within six months of the bill passing in the House of Representatives and being signed into law by President Abdel Fattah El Sisi.

Background: While few details of the bill have been revealed, we expect it will see Egypt scrap its oil-and-gas-style production sharing agreement and move to a tax, rent and royalty model, eliminating the requirement that miners enter into 50:50 JVs with the sector's regulator. It's also expected to allow exploration companies to acquire exploration ground without first obtaining exploration licenses. The amendments, which aim to attract significant foreign interest in the nation's mining sector, have been praised by industry leaders.

See the article online here: https://enterprise.press/stories/2018/11/19/mineral-resources-act-sent-to-house-for-review/

#Mining Co’s #Exploration Spending Hits $10BN with search for #EV #BatteryMetals jumping 82% #Cobalt #Lithium

Exploration spending in the mining sector rose for a second year to near $10 billion as the industry makes a cautious shift to growth and prepares for forecast booming demand for copper and metals used in electric vehicle batteries, according to S&P Global Market Intelligence.

• Budgets jumped about 19 %
• Value of exploration for cobalt and lithium, used in rechargeable batteries for EVs, jumped 82 % in 2018, though spending remains a fraction of the amount deployed on gold or base metals.

• Number of companies and entities working on projects in 2018 rebounded to about 1,651 -- the first rise in active exploration companies in six years. Even so, the number is about a third less than in 2012. 
• Equity market funding for explorers also remains constrained.

See the whole story on Bloomberg here: https://www.bloomberg.com/news/articles/2018-11-14/miners-spending-on-hunt-for-copper-ev-metals-hits-10-billion

Bit.ly/MasterMetals

Ratio of price of #Gold stocks to EBITDA and EV/EBITDA at lowest of last 30 years $HUI $GDX $GLD

The #Gold Bugs Index, $HUI, closed on Friday at 143.41 for a weekly loss of 4.0% (Attachment 1). The ratio of the price of gold stocks to EBITDA and EV/EBITDA is now at the lowest of the last 30 years (Attachment 2). 

Attachment 3 displays the gold spot daily chart. After a narrow trading range from US$ 1'210 per ounce to US$ 1'180 (August till October), the yellow metal is now in a trading range of US$ 1'240 to US$ 1'210/oz (October-November). It has been a boring time with gold trading more or less in a +/-3% trading range, excluding the extremes.

 

As per last Friday, gold closed in New York at US$ 1'209 per ounce for a loss of US$ 24 per ounce on the week.
 
Attachment 4 shows 2019 estimated All-in Cost fully loaded for major and intermediate gold companies. The average cost is around US$ 1'214 per ounce, hence near the current gold price. Fully loaded All-In cost = Total cash costs + Exploration + Capital(Development and Sustaining) + Corporate G&A + Corporate Taxes + Interest on Debt + Current Dividend. G&A = General and Administrative Cost.

#Maduro scrambles to bring #Venezuela’s #gold back from the #UK -feared that President means to steal the state-owned gold!

It is feared that President Maduro wants to steal the state-owned gold! https://www.thetimes.co.uk/article/maduro-scrambles-to-bring-venezuela-s-gold-back-from-the-uk-0p29xp99w

Maduro scrambles to bring Venezuela's gold back from the UK

November 7 2018, 12:01am,

It is feared that President Maduro means to steal the state-owned goldMARCO BELLO/REUTERS

President Maduro of Venezuela is trying to repatriate at least 14 tonnes of gold held at the Bank of England, fearing that access could be frozen under US sanctions against his regime.

The Bank has refused to release the gold bars, worth about £420 million, according to sources. British officials are understood to have insisted that standard measures to prevent money-laundering be taken — including clarification of the Venezuelan government's intentions for the gold.

There are concerns that Mr Maduro may seize the gold, which is owned by the state, and sell it for personal gain.

Venezuela is struggling under a calamitous recession that is widely blamed on Mr Maduro's mismanagement of the economy and rampant corruption in his government He says his government is the victim of an "economic war", waged by Washington.

President Trump signed an executive order last week to ban American citizens and institutions from dealing with entities or individuals involved in "corrupt or deceptive" gold sales from Venezuela. His government has accused Mr Maduro of "looting" resources to keep his regime afloat.

The Venezuelan constitution says that sales of mineral reserves must be approved by the national assembly but Mr Maduro has ignored parliament, claiming that it is run by oligarchs, since it came under opposition control in a landslide election in 2015.

Turkey has become the biggest buyer of Venezuelan gold, partly because of the friendship between Mr Maduro and President Erdogan. American officials have said that the gold, which is drawn from reserves strip-mined by gangs overseen by the military, is being resold by Turkey to Iran, which is also subject to US sanctions.

Mr Maduro is a frequent visitor to Turkey, where he was filmed this year smoking a Cuban cigar during a meal at the celebrity chef Salt Bae's restaurant in Istanbul. The clip went viral and critics said it showed that Mr Maduro had lost touch with people in Venezuela, where food is increasingly scarce.

In 2011, Hugo Chávez, Mr Maduro's predecessor and mentor, repatriated 160 tonnes of gold from banks in the US and Europe. Most of the reserves have since been discreetly shipped out and sold. The gold held at the Bank of England was used until last year to back loans of hard currency to Venezuela by other banks.

Yesterday, the EU extended sanctions on 18 individuals in the Maduro regime for a year, citing human rights violations and an undermining of democracy and the rule of law. Those affected, including the vice-president and the economy minister, are banned from travelling to Europe, and assets they hold in Europe are frozen. The EU also has an embargo on the sale of arms and "equipment for internal repression".