Anton participated in a webinar discussing the report “Commodity Trading: Understanding the tax-related challenges for home and host countries” published earlier in the year.
The webinar can be found at:
Anton Löf talked about The Demand for High Grade Iron Ore at China Mining 2019
At China Mining 2019 in Tianjing, China, Anton Löf was invited to present RMG Consulting’s views on the iron ore high grade market. Anton talked in the session where the Global Mining Situation was discussed. The conference is organised in cooperation with the Chinese Ministry of Natural Resources and is one of the most important mining conferences in China.
For more information visit the conference website: http://www.chinaminingtj.org/en/
Sluta hyckla om metallbehovet
Magnus Ericsson with friends at the Academy of Engineering Sciences have written an opinion piece in the Swedish daily newspaper Svenska Dagbladet.
Sverige bör kliva ut ur skamvrån och solidariskt bidra till den globala klimatkampen och välfärdsutvecklingen genom ökad gruvproduktion. Det skriver flera debattörer från Ingenjörsvetenskapsakademin.
Anton Löf presented at China International Steel & Raw Materials Conference
Anton Löf presented RMG Consulting’s views on the future of high grades iron ore at the China International Steel & Raw Materials Conference in Qingdao, China organised by CISA (China Iron & Steel Association). Anton spoke at the New Iron Ore Mining Projects Seminar.
For more information visit the conference website: http://www.ironoreconference.com/en/home.asp
En hållbarare framtid – för gruvindustrin & världen !?
Magnus shared our views on “a more sustainable future - for the mining industry and the world!?” at the Bergs 200 år jubileum. It has been 200 year since the first Swedish educations in mining engineering started.
Photo: Petra Älvstrand
”Ohållbara konstruktioner förbrukar jordens resurser”
Magnus Ericsson with friends at the Academy of Engineering Sciences have written an opinion piece in the Swedish newspaper NyTeknik.
Produkter som är konstruerade för att kunna plockas isär är helt avgörande för ökad återanvändning. Förbrukningen av resurser inom elektronikindustrin är katastrofal, skriver bland andra Rolf Sandström, KTH och Charlotte Andersson, LTU.
”Prisfall en bra sak för oss”
På bara ett år har priset på litium fallit med 30 procent. Oroande för Kelibergruvan som vill vara först med europeiskt litium? Inte alls.
Magnus Ericsson kommenterar litiummarknaden och gruvbolaget Keliber i Vasabladet.
Trög elbilsförsäljning ger prisfall på litium
Magnus Ericsson was interviewed in the news and gave his views on the lithium market.
Trög elbilsförsäljning ger prisfall på litium
Priset på litium, som bland annat används för att tillverka batterier i elbilar, har fallit med 30 procent. Nya gruvor och sviktande elbilsförsäljning ligger bakom prisfallet.
Enligt nyhetsbyrån Bloomberg så har priserna på metallen litium rasat med 30 procent sedan mitten av förra året.
Anledningen är att många snabbt har flockats till vad som såg ut som en lukrativ gruvnäring. I Australien öppnade nyligen sex nya litiumgruvor.
– Det räcker med att det kommer i gång tre-fyra fem gruvor runt om i världen så har man täckt efterfrågan, säger Magnus Ericsson, professor i mineralekonomi och grundare av råvaruanalysföretaget RMG Consulting.
Samtidigt så har elbilsförsäljningen inte riktigt fått den fart man förväntade sig. I Kina, den största marknaden för nya elbilar, sjönk försäljningstillväxten första kvartalet i år jämfört med samma period i fjol.
Magnus Ericsson på råvaruanalysföretaget RMG Consulting säger att litium-marknaden är extra känslig för variationer i efterfrågan, eftersom den är relativt liten.
– Marknaden för litium har varit i storleksordningen 25-50 000 ton upp till för något år sedan. De stora metallerna, stål till exempel, det är 2000 miljoner ton varje år. Så det är en väldigt stor skillnad i efterfrågan mellan de olika mineralerna och metallerna, säger han.
Det är riskabelt att ge sig in i litiummarknaden nu, menar Magnus Ericsson. Det kan ta uppemot 15 år att starta en gruva, och på den tiden kan mycket hända.
– Det är inte säkert att den typ av batterier som man nu pratar om kommer att bli det som gäller om 10-15 år. Det här är en ny bransch, det kommer nya ideer och nya tankar. Befintliga batterikonstruktioner går det inte åt lika mycket kobolt, nickel eller litium som det var bara för några år sedan, säger Magnus Ericsson.
Skillnaden mellan tillgång och efterfrågan kommer få priset att svaja lång tid framöver, tror han.
– Med snabba förändringar på efterfrågesidan, om det kontrasteras mot långa processer på gruvproduktionssidan. Då får man en marknad som är lite i obalans, man kommer att få se stora prisuppgångar och prisfall på det här metallråvarorna i framtiden också. Det är jag helt övertygad om, säger Magnus Ericsson.
Philip Ramqvist
philip.ramqvist@sverigesradio.se
read more: https://sverigesradio.se/sida/artikel.aspx?programid=83&artikel=7273490
Valuation of Mineral Projects Based on Technical and Financial Modelling
Our dear friend Prof. Dennis Buchanan will present the course Valuation of Mineral Projects Based on Technical and Financial Modelling in Oulu, Finland, 22 - 25 October. During several years Raw Materials Group cooperated with Prof. Dennis Buchanan bringing his courses to Sweden. A much appreciated course for all those participating.
The course will be of particular interest to mining analysts, fund and asset managers, bankers, engineers responsible for development planning, exploration managers and other specialists in the valuation of mineral projects. It will also be of interest to government officials.
The course will be relevant to entrepreneurs needing to understand the qualifying framework that private equity funds use to evaluate projects.
Anton, Magnus and Olof publishes in CIS Iron and Steel Review
Iron Ore Market Review 2018
CIS Iron and Steel Review (2019 Vol.17)
Iron ore prices remained at relatively high levels during 2018. Premia paid for high quality ores increased and are substantial. Global iron ore production is estimated to grow by around 2% in 2018. Sharp cuts in production of un-beneficiated ore have taken place in China during 2018. Demand for iron ore in general and for high grade products in particular has however increased. Future developments in China, both in the steel and iron ore industries, will be crucial to the global iron ore markets in 2019. This review is written in March 2019 and incorporates as much as possible figures and trends for the full year 2018, in some cases this is however not yet possible.
Många vill jaga batterimetall
I spåren av elbilsboomen exploderade även intresset för att leta batterimetaller i Sverige.
Men än så länge har ingen gruva fått tillstånd. Och det lär dröja många år innan Northvolt kan hoppas på något därifrån, enligt Bergsstaten.
Vanadin, litium, kobolt, mangan, grafit och nickel.
Alla är de metaller intressanta för batteritillverkare som Northvolt som nu tryckt på startknappen för sin jättefabrik i Skellefteå. Och de finns alla i Sverige.
Intresset för att leta efter dem har ökat kraftigt senaste åren.
Mellan åren 2010 och 2015 låg beviljade tillstånd att leta efter vanadin, litium och kobolt på mellan noll och 13 per år. 2016 stegrade den siffran till 34 för att öka till 65 året därpå och 43 stycken i fjol.
– Metallerna finns i Sverige, men inga gruvor, säger bergmästare Åsa Persson vid Bergsstaten.
Prospektering och att slutligen få tillstånd att utvinna mineralen är en lång process.
– Det handlar om många, många år, säger Åsa Persson.
Vissa har kommit längre, bland andra Talga Resources som har hittat en stor fyndighet grafit i Vittangi, enligt bolaget med den högsta halten i världen. Men gruvtillstånd saknas ännu, något de hoppas få klart med i höst. Planen är att förädla grafiten till färdigt anodmaterial med fullskalig produktion 2023.
– Vi vill se oss som en del av de värdekedjor för batterier som växer fram i Sverige, säger Talgas Sverigechef Anna Utsi utan att vilja gå in på huruvida företaget har kontakter med Northvolt.
Statliga gruvjätten LKAB har dragit i gång ett projekt för att ta reda på gruvslammet, restprodukter från järnmalmsbrytningen innehållandes olika jordartsmetaller, bland annat vanadin. Gruvbolaget avser att träffa Northvolt för att se om det finns några intressanta samarbetsprojekt.
– Men vi har inget som i dag utvinns, säger David Högnelid, marknads- och kommunikationschef på LKAB:s division Specialprodukter.
En annan svensk gruvjätte, Boliden, har heller inget att erbjuda i dagsläget, enligt bolaget.
Att dra i gång en gruva för smala och relativt sällsynta metaller är ett högriskprojekt, enligt flera bedömare TT talat med. Det gäller att ha långa planeringshorisonter för att våga investera.
I dag hämtas exempelvis mycket av världens koboltutvinning från politiskt mycket osäkra Kongo. Det driver upp priset, speciellt när efterfrågan på batterier skjutit i höjden.
Den priseffekten kan klinga av om läget skulle bli stabilare och därmed spricker kanske kalkylen för en tänkt ny koboltgruva.
Utöver det är teknikens framtid osäker.
– Batteristandarden är oklar. Man vet inte vilka metaller som kommer att vara rådande i batterierna framöver, säger Anton Löf, råvaruanalytiker på RMG Consulting.
Fakta: Metalljakt i Sverige
I fjol lämnades totalt 166 ansökningar om undersökningstillstånd av mineralfyndigheter in i Sverige. Året innan var motsvarande siffra 227 och året innan dess 139 tillstånd. Totalt gällande tillstånd låg vid senaste årsskiftet på 623, aningen högre än åren innan.
Åren före 2013 låg ansökningarna kring 200 per år, innan det blev ett fall under några år.
Bland de beviljade tillstånden 2018 var koppar och guld de vanligaste mineralerna och platserna vanligtvis belägna i Norrbottens och Västerbottens län.
Källa: Bergsstaten
Publicerad i Svenska Dagbladet 2019-06-13
Olle Lindström / TT
Mining’s contribution to national economies between 1996 and 2016
Magnus Ericsson and Olof Löf publishes article in Mineral Economics.
In several low- and middle-income countries rich in non-fuel mineral resources, mining makes significant contributions to national economic development as measured by the revised Mining Contribution Index (MCI-Wr). Ten countries among the 20 countries where mining contributes most (highest MCI-Wr score) have moved up one or two steps in the World Bank’s country classification between 1996 and 2016. In particular, African countries have benefitted. Socio-economic development indicators also show signs of progress for African mineral-rich countries. This paper provides an update and expansion of an earlier study within the framework of the United Nations University (UNU) World Institute for Development Economics Research (WIDER) initiative Extractives for Development. Based on the detailed data available for the sector, such as production, export, prices, mineral rents, exploration expenditure and government revenues, an analysis is carried out of the current situation for 2016, and trends in mining’s contribution to economic development for the years 1996–2016. The contribution of minerals and mining to GDP and exports reached a maximum at the peak of the mining boom in 2011. Naturally, the figures for mining’s contribution had declined for most countries by 2016, but importantly the levels were still considerably higher than in 1996. The results of this survey contradict the widespread view that mineral resources create a dependency that might not be conducive to economic and social development. In addition, this paper presents an attempt to use already available socio-economic indicators for African mineral-rich countries to measure socio-economic developments. One preliminary conclusion of this survey is that mining countries perform better than oil-producing countries and non-mineral countries in Africa as measured by these indices of human development and governance.
Lokale Verarbeitung lohnt sich selten
Anton Löf and Olle Östenssons paper “Downstream activities: The possibilities and the realities” is discussed in the NZZ Neue Zürcher Zeitung.
Magnus Ericsson publishes article in Euroasian Mining Journal
Internationalisation of mining education and research - a recurring process running through the centuries
International cooperation and mobility are buzzwords of today’s research and innovation clusters all over the world. These are however not new concepts. The understanding that research and innovation can only thrive in an international and open environment has been in place for at least 300 years in Sweden. All interested and knowledgeable scientists and business developers have been welcomed to push the front of knowledge and the industry forward. The international contacts of Swedish mining education, research and innovation prove that with an open mind and a persistent, long term effort results will come.
The roots of mining education and research in Sweden dates back to the 17th century. Initially the focus was on applied research rather than education, but the early efforts also slowly led to important purely scientific results. Swedish metallurgists/chemists have discovered more elements than scientists from any other nation. Over 150 years, from the early 18th century to the end of the 19th century, 20 elements - and among them many industrially important metals — were isolated and described.
The ancient Falu copper mine was the logical choice for location of one of the first technical schools in Sweden: “Falu Bergskola” (Falu Mining School), which was set up in 1822. Its first director was precisely one of the chemical scientists engaged in the discovery of new elements. This Mining school was later merged with other existing institutions offering some technical training into “Tekniska Institutet” (the Technical Insitute). This was in 1876 transformed into a technical high school along German models. The Association of Swedish Iron and Steel industry (Jernkontoret in Swedish) was a key supporter and funder of these developments. The new school was called Kungliga Tekniska Högskolan (KTH) in translation Royal Institute of Technology. KTH had 5 departments, including a school of mining science.
In 1972 the education of mining engineers was transferred to the newly established Luleå Technical College close to the Arctic Circle. The College was later expanded and in 1997 renamed Luleå University of Technology (LTU). LTU has become one of the leading mining universities in Europe, to a large extent due to the fact that it is situated in the centre of one of Europe’s remaining mining regions. Around 2/3 of all university trained staff employed by Swedish mining has been trained at LTU. But LTU has also had its focus on the mining sector for a long time and in its internal program Mines of the Future it has relentlessly pushed the importance of mining and minerals and demonstrated its ambition to be a leading actor in this area. LTU has been appointed by Swedish government to lead the national education and research in mining. The recent decision by the EU to locate one EIT Raw Materials CLC (Co-location Centre) to Luleå means that the university has been given a similar role also on the EU level. LTU has actively built international links and supported cooperation with other universities within Europe and around the world. The bold and officially stated aim is to become one of the globally leading mining universities.
Eurasian Mining, ISSN 2072-0823, Vol. 2, p. 44-48
Magnus Ericsson presented at the South African Institute of International Affairs (SAIIA) seminar on “EU’s normative role in African extractive governance”.
In conjunction with the 25th Mining Indaba South African Institute of International Affairs (SAIIA) hosted a seminar of “EU’s normative role in African extractive governance”. RMG Consultants and Magnus Ericsson was invited to report from the STRADE (Strategic Dialogue on Sustainable Raw Materials for Europe) project which completed a 3-year Horizon 2020 project in November 2018.
Photo: SAIIA
For details about the STRADE results please go to www.stradeproject.eu
For details about SAIIA please go to https://saiia.org.za
For details on the seminar please see https://saiia.org.za/event/save-the-date-4-february-2019/
Magnus Ericsson moderating a session on “Raising capital for mining projects in Nordic countries: Opportunities and challenges” at the 8th Future Mine & Mineral Conference.
Photo: Anja Callius
The panellists are from right: Jane Walerud, serial entrepreneur and investor, Walerud Ventures; Mauri Visuri, CEO Techoventure Oy and chairperson Sotkamo Silver AB; Per Thunander, Senior advisor Stockholm Corporate Finance and Eric Atle Nilsson, Atle Arctica.
RMG and Magnus Ericsson has participated as a speaker, panellist or moderator in each of the Future Mine and Mineral conferences since the start in 2011.
Anton Löf in Ukraine starting up the project “Ukraine as an attractive target for investing on Earth resources”
Anton Löf visited Ukraine and met the director of the Geological Survey of Ukraine. The meeting was part of a new project together with the Geological Survey of Estonia, USGS and the Geological Survey of Ukraine.
More information from the Geological Survey of Estonia
Mineral grades: an important indicator for environmental impact of mineral exploitation
Ekonomiekot Extra
Anton Löf was interviewed by Ekonomiekot Extra for the Swedish radio on Cobalt, Congo and battery minerals.
Suget efter batterimetallen kobolt skapar enorma problem i Kongo där vissa får betala med sina liv. Samtidigt kontrollerar Kina tillgången på viktiga råvaror i den gröna teknikomställningen. Men kan istället Sverige bli ett nytt Klondike för de sällsynta jordartsmetallerna?
The 9th Nordic Exploration Award in 2018 goes to Erkki Vanhanen
The 9th Nordic Exploration Award in 2018 goes to Erkki Vanhanen for:
· Relentlessly and with Finnish sisu played a key role in the discovery and development of the Rompas gold mineralisation in Finnish Lapland.
· Actively contributed to increasing the appreciation by Finnish and EU officials of the significance of mining in Lapland.
· Developing new innovative ways to drill and sample a mineral deposit in a Natura 2000 area.
Photo: Henry Lundholm.
Dr Erkki Vanhanen graduated with a Master of Science in Geology and Mineralogy in 1981 and completed his PhD in Geology and Mineralogy in 2001. Both degrees at the University of Oulu. Dr Vanhanen's professional experience has primarily been in gold and uranium exploration for 25 years including 15 years generating, implementing and managing exploration projects in the field. He spent 3 years with Areva Resources Finland Oy and AREVA NC as Technical Director and exploration geologist and 23 years with the Geological Survey as Finland, with a final role as Division Manager, Bedrock and Raw Materials. Dr. Vanhanen served as Mawson's Exploration Manager in Scandinavia and chief geologist from 2010 until his retirement in 2018.
Mawson Oy is a fully-owned subsidiary of Mawson Resources Limited, a Canadian company listed in Toronto stock exchange. Mawson’s flagship, Rompas-Rajapalot gold-cobalt exploration area is demonstrably one of the few such projects in the world. Dr Erkki Vanhanen has been the key person in initially finding and further exploring this area.
The survey results from the area have delineated an exceptional geological potential. The gold-cobalt concentrations found in the area typically exceed the threshold concentrations considered economically viable by multiple, often hundreds of times.
Mawson has invested in its exploration operations in the Rompas-Rajapalot area between 2010 and 2018 around EUR 17 million. Almost the entire sum of investments has been retained by the economic areas of Ylitornio and Rovaniemi and the rest of Finland.
Mawson has since the very start of the Rompas project in 2011 been engaged in a continuous Kafkaesque fight with several Finnish authorities and NGOs about the right to explore in the Rompas-Rajapalot areas in spite of permits repeatedly being issued and confirmed by the Finnish Mining Authority and administrative courts. The outcome of this protracted fight is not yet certain.
Nordic Exploration Award Committee
Stockholm November 2018