Global Trends in Mining

A possible trade war between China and the US has brought ‘good news’ for gold prices as it reached its highest level since mid-February last Friday at US$1,343/oz.

According to Neometals, an Australian producer, recycling lithium from used electric vehicle batteries may be more profitable than mining the metal. The Perth-based company aims to recover raw materials such as lithium, cobalt, nickel and copper from depleted batteries.

BMW has publicly stated that it will not be signing contracts for battery metals such as lithium and cobalt at least until 2020. The company is waiting for the mass production of EVs to become more profitable before making this decision.

Projects in Mexico

After previously overturning the environmental permit application for Odyssey Marine Exploration’s subsidiary Exploraciones Oceánicas’s (ExO) project Don Diego, the Mexican Supreme Court has finally issued a ruling in favor last week. This is a historic step in the Mexican mining industry as Don Diego will be the first deep-sea exploration project in the country.

Aztec Minerals announced that it was awarded two new mineral concessions through its participation in a Mexican government land lottery adjacent to the Cervantes property in Sonora. Aztec now encompasses 3,649 hectares, a considerate expansion from its previous 500 hectares under option from Kootenay Silver.

As an effort to continue exploration at its Las Minas project in Veracruz, Mexican Gold Corp intends to complete a non-brokered private placement of up to US$1 million at US$0.30 per unit with a small group of investors.

Government officials visited the San Dimas mine last week after a reported cyanide spill of 200 liters on March 11 that was caused by an error in the closing of a valve. The solution is estimated to have traveled 250m downstream of the river nearby and killed an undefined quantity of fish. Authorities may decide to execute an administrative procedure against the miner.

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