Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.
Cont...
This was from 2021:
BUT BEIJING’S BATTLE WITH AUSTRALIA HAS MADE THE SUPPLY OF IRON ORE NOT JUST AN ISSUE OF PRICE. WITH TALK OF WAR IN THE AIR, IT IS ONE OF NATIONAL SECURITY.
If Australia were to cut supplies off now, for example, the construction sector in China, the core of the economy, would struggle to stay afloat.
https://www.lowyinstitute.org/publications/revealed-china-s-plan-wean-itself-australian-iron-ore
and this is now:
US GREEN BERETS REPORTEDLY PERMANENTLY BASED IN TAIWAN FOR 1ST TIME
American military advisors stationed in Army amphibious bases in Kinmen and Penghu
By Keoni Everington, Taiwan News, Staff Writer
2024/03/02 18:37
https://www.taiwannews.com.tw/en/news/5106211
Change of plan
I think this might be about to decide Zanaga's furture:
REVEALED: CHINA’S PLAN TO WEAN ITSELF OFF AUSTRALIAN IRON ORE
For a China determined to punish Australia, the windfall gains delivered to Canberra from surging iron ore prices are intolerable.
To call it ironic doesn’t quite capture the moment. Just as Beijing is punishing Australia with trade sanctions, sales of the one commodity the Chinese can’t target, iron ore, are delivering billions in windfall gains to miners, their shareholders and the government in Canberra.
Iron ore exports have broken records for volumes and prices in recent months, largely because of the strong rebound in the Chinese economy and the lack of alternative suppliers for the country’s steel makers.
The iron ore boom has also had a less noticed political impact, bolstering confidence in the government and among commentators that Australia can ride out Chinese trade sanctions without substantial damage.
Individual winemakers and lobster producers may have had their export businesses wiped out, so the argument goes, but iron ore and other commodities are more than making up the difference.
The iron ore trade, in that respect, is stiffening the resolve of the Morrison government in dealing with Beijing, because the cost of resisting trade coercion is minimal on the broader economy.
For a China determined to punish Australia, this is intolerable. What, then, are Beijing’s options to wind back the benefits from the iron ore trade?
Beijing’s longer-term options are obvious: to find more supplies, a task the government is working on with a feverishness absent during the days of smooth Sino-Australian relations.
BUT BEIJING’S BATTLE WITH AUSTRALIA HAS MADE THE SUPPLY OF IRON ORE NOT JUST AN ISSUE OF PRICE. WITH TALK OF WAR IN THE AIR, IT IS ONE OF NATIONAL SECURITY.
IF AUSTRALIA WERE TO CUT SUPPLIES OFF NOW, FOR EXAMPLE, THE CONSTRUCTION SECTOR IN CHINA, THE CORE OF THE ECONOMY, WOULD STRUGGLE TO STAY AFLOAT.
https://www.lowyinstitute.org/publications/revealed-china-s-plan-wean-itself-australian-iron-ore
The media is starting to detail China's strategy of securing iron ore outside of Australia, specifically in Africa. Yesterday the SCMP name checked Congo-Brazzaville (Mbalam-Nabeba) and Simandou, amongst others.
It can only be a matter of time before Zanaga joins the list...
CHINA IS PLANNING TO BREAK ITS DEPENDENCY ON AUSTRALIA AND BRAZIL FOR IRON ORE. AFRICA IS THE KEY
(edited)
China has a number of iron ore projects in the works in Africa as part of its ‘foundation plan’ to de-risk its supply of the mineral
For now, the country relies heavily on Australia and Brazil, which supply the vast majority of the world’s iron ore
More than 80 per cent of China’s iron ore comes from Australia and Brazil but Beijing wants to de-risk that supply. And the West African nation, along with other countries including Guinea, Liberia, Cameroon and Congo-Brazzaville, are the key to making that happen.
Meanwhile, in neighbouring Guinea, after 27 years of false starts, Chinese investors together with British-Australian mining giant Rio Tinto, are on track to make their first shipment from the Simandou iron ore mine next year. Simandou is the world’s largest-known undeveloped reserve of high-grade iron ore.
Chinese companies are also investing in the Mbalam-Nabeba project, which will develop large-scale iron ore deposits that straddle Cameroon and neighbouring Congo-Brazzaville in central-west Africa.
These are just some of the mining projects in Africa which observers say form part of China’s iron ore “foundation plan”, which aims to address the vulnerability of its reliance on Australia and Brazil for the resource.
“The massive investment overseas is a part of China’s long-pursued goal of enhancing its position in the global iron ore trade by taking a larger ownership stake in overseas iron ore supply,” Gao said. “At present, we estimate that there is Chinese ownership in around 5 per cent of global iron ore supply.”
https://www.scmp.com/news/china/diplomacy/article/3255471/china-planning-break-its-dependency-australia-and-brazil-iron-ore-africa-key
Another piece detailing Australia's major iron ore problem. Their grades just don't cut it for DRI and green steel. Zanaga's do. It **WILL** collectively dawn on the industry and Mr Market.
Two weeks until the end of Q1 and our projected 'milestone' news flow.
Tick Tock.
Australia’s biggest earner faces an uncertain future. “Dig it and ship it” won’t cut it anymore. And if we don’t add “refine it” to the iron ore equation within just 20 years – global steelmakers will take their chequebooks elsewhere .... “Our competitors – countries such as Brazil and Guinea with higher-grade ores in relative abundance – are positioned to become the steel industry’s suppliers of choice,” warns RMIT University lecturer and Wuhan University of Science and Technology adjunct professor Dr Charlie Huang .... That’s because they can offer the world’s steelmakers what they need: an off-ramp in the face of rapidly escalating global tariffs designed to punish carbon dioxide emitting industries .... “The Australian iron ore industry faces a major challenge as its biggest customers – China’s steel mills – move to drastically reduce their carbon footprint,” warns Dr Huang .... Solutions are being sought. And being found. But the quality of Australian iron ore is part of the problem .... Beijing has, in recent years, already been seeking to reduce its reliance on Australian iron ore. Now, it’s looking towards “greener” pastures as a first step in adapting to Europe’s stringent standards .... Bulk ore shipments out of Brazil and Guinea generally contain about 65 per cent iron. Australian ore now varies anywhere between 56 and 62 per cent .... Bulk ore shipments out of Brazil and Guinea generally contain about 65 per cent iron. Australian ore now varies anywhere between 56 and 62 per cent .... BUT TO PRODUCE STEEL THESE FURNACES NEED PRE-PROCESSED IRON ORE PELLETS WITH PURITY LEVELS ABOVE 67.5 PER CENT – HIGHER THAN EVEN THE BEST NATURAL HEMATITE DEPOSITS.
https://www.news.com.au/finance/business/mining/australias-biggest-export-on-the-brink-of-30-billion-loss/news-story/3954280b4c701f53ad9da4a5d6a3bf3b
> Zanaga's Phase 2 magnetite will come at 69%+ for a blended pellet feed product of 67.5%, making the magical DRI grade, the avoidance of carbon taxes and thus long term premiums.
Tick Tock.
This reads as if the Saudis are prepping the market for news:
INSIDE SAUDI ARABIA’S PLAN TO DOMINATE MINING
Mar 13, 2024, 3:53pm GMT
Saudi Arabia sees vast riches beyond oil within its reach. The kingdom’s broad-ranging ambition, a top mining official told Semafor, is to extract the more than $2.5 trillion in metals in its soil, invest in minerals extraction around the world, and capture as much of the minerals value chain as possible.
“Saudi Arabia is being transformed. Through this transformation we want to be an economic powerhouse,” Khalid al-Mudaifer, the vice minister for mining, said. “To be an industrial [power], we need minerals. To build projects, we need minerals. Therefore, mining of Saudi Arabia [is] the first step, bringing minerals from outside is the second step, third step is to build Saudi Arabia as a hub.”
Mudaifer is a minerals specialist — he has been vice minister for mining since 2018, and for the seven years prior he ran Saudi Arabia’s state mining company Ma’aden..
International targets
Despite Saudi Arabia’s huge aspirations and potentially huge scale, Mudaifer acknowledged that “whatever we mine in Saudi Arabia will not be enough for Saudi Arabia,” because while the kingdom holds large concentrations of certain resources, other ones critical for manufacturing such as nickel, cobalt, and lithium are found elsewhere. That prompted the kingdom to establish its Manara Minerals fund, a state-backed venture that aims to increase Riyadh’s access to minerals worldwide and potentially help funnel them to processing facilities in Saudi Arabia. One of its earliest investments so far has been to take a 10% stake in a copper and nickel-focused spinoff of the Brazilian mining giant Vale.
https://www.semafor.com/article/03/13/2024/inside-saudi-arabias-plan-to-take-over-the-mining-industry
Australia's lowly grades risk being stranded in a low carbon future. Here the Australians are starting to realise their peril.
CHINA’S GREEN STEEL PUSH COULD CRUSH AUSTRALIA’S DIRTY IRON ORE EXPORTS
Published: March 12, 2024 7.14pm GMT
Australia’s largest export, iron ore, has long been a powerhouse of economic growth. Over the past two decades, its contribution to our national income has surged from just A$8 billion in 2005 to over A$124 billion today. The issue lies in the purity of our product. Most of Australia’s current iron ore exports are not classed as high grade. Typically, the lower the iron content of an ore is, the more energy is required to refine it. Our competitors – countries such as Brazil and Guinea with higher-grade ores in relative abundance – are positioned to become the steel industry’s suppliers of choice.
...
Reducing the use of low-grade ore has become a priority for Chinese steel mills, significantly affecting iron ore’s demand profile. Much of the iron ore exported by competing nations like Brazil and Guinea is high-grade, containing more than 65% iron. But most of Australia’s current exports fall below that threshold, between 56% and 62%.
https://theconversation.com/chinas-green-steel-push-could-crush-australias-dirty-iron-ore-exports-219299
The shape of things to come. Anybody got some high grade?
GERMANY STARTS AUCTION FOR GREEN INDUSTRY WORTH UP TO €4 BILLION
Program to help fund clean steel, glass, cement making
Government has set aside about €50 billion for program
By Petra Sorge
11 March 2024 at 18:25 GMT
Germany is set to hold the inaugural auction of a program to offer as much as €4 billion ($4.4 billion) in initial funding to help steel, cement and other heavy industrial producers transition to green technologies.
https://www.bloomberg.com/news/articles/2024-03-11/germany-starts-auction-for-green-industry-worth-up-to-4-billion
As the PIF fill their coffers it is well worth revisiting this from September:
MBS: TODAY WE’RE TRYING TO CLOSE A FEW THINGS, WE’RE AIMING TO CLOSE IN THE FIRST HALF OF 2024
Saudi Arabia is to begin working on the next phase of its economic diversification plan known as Vision 2030 and hopes to unveil its Vision 2040 as early as 2027, Crown Prince Mohammed bin Salman said in an interview this week.
“Today we’re trying to close a few things, we’re aiming to close in the first half of 2024 and then we’re going to shift to implementation and starting preparation for Vision 2040 and announcing Vision 2040 in 2027-2028. So that’s the main thing we are focusing on,” he told Fox News when asked about the government’s current priorities.
https://www.agbi.com/development/2023/09/saudi-arabia-to-begin-preparing-vision-2040/#:~:text=Saudi%20Arabia%20is%20to%20begin,in%20an%20interview%20this%20week.
Now bear in mind that Manara Minerals were formed as far back as January 2023 and have yet to secure any of their mandate (high grade) iron ore, and that ZIOC intend to 'secure their selected partner' by the end of this quarter.
Well, this is interesting. A proactive interview with at from Oct 2020 has been pulled. The question is whether AT revealed a little too much of development plans and the entities involved:
10:32 26 Oct 2020 gmt
THIS VIDEO IS PRIVATE
https://www.proactiveinvestors.co.uk/companies/news/932353/zanaga-iron-ore-to-benefit-from--china-aggressively-pushing-to-secure-large-global-iron-ore-assets--932353.html
But I managed to find it here....
https://Www * research-tree * com /media/zanaga-iron-ore-an-introduction-19-12-2019/id/6055
In it Trahar reveals:
* Agreement with Chinese Gov entities
* Continued engagement with interested parties
* Simandou and Zanaga well understood to be 'strategically significant'
* Approaches (to ZIOC) from entities involved at Simandou
* Steel mill at Pointe Noire with surplus to Chinese customers
Shortly afterwards China shut their borders and, as per at, the entities they had been speaking with were unable to travel.
Fast forward to Nov 2022 and the Glencore restructuring and ZIOC had re-engaged with strategic entities....hmmmmmm
Www * research-tree * com
Replace * with dots
well, this is interesting. a proactive interview with at from oct 2020 has been pulled. the question is whether at revealed a little too much of development plans and the entities involved:
10:32 26 oct 2020 gmt
this video is private
https://www.proactiveinvestors.co.uk/companies/news/932353/zanaga-iron-ore-to-benefit-from--china-aggressively-pushing-to-secure-large-global-iron-ore-assets--932353.html
but i managed to find it here....
https://*********************/media/zanaga-iron-ore-an-introduction-19-12-2019/id/6055
in it trahar reveals:
* agreement with chinese gov entities
* continued engagement with interested parties
* simandou and zanaga well understood to be 'strategically significant'
* approaches (to zioc) from entities involved at simandou
* steel mill at pointe noire with surplus to chinese customers
shortly afterwards china shut their borders and, as per at, the entities they had been speaking with were unable to travel.
fast forward to nov 2022 and the glencore restructuring and zioc had re-engaged with strategic entities....hmmmmmm
(WSJ) Saudi Arabia has moved a roughly $160 billion stake in its state oil giant into its main sovereign wealth fund..
Riyadh, March 07, 2024, SPA -- His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Board of Directors of the Public Investment Fund (PIF), announced today the completion of the transfer of 8% of Saudi Aramco's total issued shares from the State's ownership to PIF’s Fully Owned Companies. Following the transfer, the total State’s ownership will be 82.186% of the company’s shares.
His Royal Highness indicated that the transfer of part of the State’s shares in Saudi Aramco is a continuation of Saudi Arabia’s long-term initiatives to boost and diversify the national economy and expand investment opportunities in line with Saudi Vision 2030. The transfer will also solidify PIF’s strong financial position and credit rating.
The Crown Prince concluded that PIF continues with its mandate to launch new sectors, build new strategic partnerships, localize technologies and knowledge, and create more direct and indirect job opportunities in the local market.
-- SPA
15:30 Local Time 12:30 GMT
0028
https://www.spa.gov.sa/w2060838
> $160bn. I wonder how much has been allocated to Manara Minerals?
Rio Tinto Simfer @RioTintoSimfer
Simandou est un projet minier majeur avec un investissement global estimé entre 15 et 20 milliards de dollars, offrant des opportunités pour façonner et transformer l'économie guinéenne au profit des générations actuelles et futures de Guinéens.#Guinee
Translated from French
Simandou is a major mining project with an estimated global investment of between $15 and $20 billion, providing opportunities to shape and transform the Guinean economy for the benefit of current and future generations of Guineans.
#Guinee
5:35 PM · Mar 6, 2024
https://twitter.com/RioTintoSimfer/status/1765430955165028701
> Depending on our current repostings (due any day now) Zanaga Phase 1 development could come in at *just one tenth of Simandou* - perhaps $1.85bn
From Tuesday, rest paywalled:
CHINESE COMPANY BAOWU ESTABLISHES GUINEA SUBSIDIARY TO DEVELOP SIMANDOU IRON MINE
After receiving official authorisation from Beijing to invest in the Simandou project, the Chinese steel giant has now been formally established in Guinea.
https://www.africabusinessplus.com/en/818553/chinese-company-baowu-establishes-guinea-subsidiary-to-develop-simandou-iron-mine/
> Which means Baowu, as the world's largest steel maker and ore ore buyer, is now committed to mining in West Africa.
Just for fun, swapping out Simandou for Zanaga - only half joking:
WHY CHINESE INTEREST IS SOARING IN WEST AFRICAN (ZANAGA) IRON ORE RESERVES
A massive untapped iron ore mine in West Africa has shot up China's list of belt and road priorities as it pushes to cut reliance on Australia and Brazil for the mineral essential to steel production.
Observers say the Guinean iron ore will help China diversify its suppliers to avoid excessive dependence on Australia amid strained ties in recent years, as well as its drive to achieve resource security and to decarbonise the steel value chain since (ZANAGA) offers higher-grade ore.
"China's feud with Australia and desire to diversify its sources changed the economics of the project. In a way, China's desire for access to resources at source has not changed," Moore said, referring to Beijing's angry reaction to Canberra's previous government calling for an international investigation into the origin of the coronavirus, with tariffs imposed on several Australian products including wine. Relations have since eased somewhat under Anthony Albanese, Australia's new prime minister.
Lauren Johnston, a China-Africa researcher at the South African Institute of International Affairs in Johannesburg, said China's goal in the massive (ZANAGA) investment was higher quality ore development.
"[Chinese] President Xi Jinping launched a plan [on the Brics summit margins] in Johannesburg in August to foster African industrialisation - perhaps the plan is also to use Simandou's ore for this plan too," Johnston said.
She said because Zimbabwe is about to inaugurate Africa's largest steel mill, perhaps some of the ore from (ZANAGA) will go there as well. Chinese steel giant Tsingshan Holding Group is building a US$1 billion iron and steel plant in Zimbabwe through subsidiary firm Dinson Iron and Steel.
Gao of CRU Group highlighted China's aim to diversify its iron ore suppliers to avoid dependence on Australia and Brazil, which account for 82 per cent of global seaborne iron ore exports.
She said though low-grade ores are in high demand now, the steel industry's aim to decarbonise the sector will lead to a growing demand for higher-grade ores.
"(ZANAGA) will be a good option here with its capacity of (60) million tonnes per year of high-grade ore exports," Gao said.
While the value of investment remains undisclosed, China Baowu is expected to get a major stake in WCS.
Johnston said the entry of China Baowu as a shareholder in WCS links the steel giant directly to the mine, which is a form of vertical integration.
Moore at the Centre for Global Development said the close links between industry and government in China were an indication that "China Baowu Steel is acting on signalling from the central government".
This from a SCMP article of 29th Oct 23 which I have just found outside a paywall. My edits:
WHY CHINESE INTEREST IS SOARING IN WEST AFRICAN GUINEA'S SIMANDOU IRON ORE RESERVES
A massive untapped iron ore mine in West Africa has shot up China's list of belt and road priorities as it pushes to cut reliance on Australia and Brazil for the mineral essential to steel production.
Observers say the Guinean iron ore will help China diversify its suppliers to avoid excessive dependence on Australia amid strained ties in recent years, as well as its drive to achieve resource security and to decarbonise the steel value chain since Simandou offers higher-grade ore.
"China's feud with Australia and desire to diversify its sources changed the economics of the project. In a way, China's desire for access to resources at source has not changed," Moore said, referring to Beijing's angry reaction to Canberra's previous government calling for an international investigation into the origin of the coronavirus, with tariffs imposed on several Australian products including wine. Relations have since eased somewhat under Anthony Albanese, Australia's new prime minister.
Lauren Johnston, a China-Africa researcher at the South African Institute of International Affairs in Johannesburg, said China's goal in the massive Simandou investment was higher quality ore development.
"[Chinese] President Xi Jinping launched a plan [on the Brics summit margins] in Johannesburg in August to foster African industrialisation - perhaps the plan is also to use Simandou's ore for this plan too," Johnston said.
She said because Zimbabwe is about to inaugurate Africa's largest steel mill, perhaps some of the ore from Simandou will go there as well. Chinese steel giant Tsingshan Holding Group is building a US$1 billion iron and steel plant in Zimbabwe through subsidiary firm Dinson Iron and Steel.
Gao of CRU Group highlighted China's aim to diversify its iron ore suppliers to avoid dependence on Australia and Brazil, which account for 82 per cent of global seaborne iron ore exports.
She said though low-grade ores are in high demand now, the steel industry's aim to decarbonise the sector will lead to a growing demand for higher-grade ores.
"Simandou will be a good option here with its capacity of 120 million tonnes per year of high-grade ore exports," Gao said.
While the value of investment remains undisclosed, China Baowu is expected to get a major stake in WCS.
Johnston said the entry of China Baowu as a shareholder in WCS links the steel giant directly to the mine, which is a form of vertical integration.
Moore at the Centre for Global Development said the close links between industry and government in China were an indication that "China Baowu Steel is acting on signalling from the central government".
https://shorturl.at/syJZ3
https://www.scmp.com/news/china/diplomacy/article/3239571/why-chinese-interest-soaring-west-african-guineas-simandou-iron-ore-reserves
Gold and BTC go to record highs.
Fiat getting dumped, buying physicals and digitals.
> Time for Gulf States and China to divest of dollars - and into commodity resources that cannot be debased and diluted.
Recall from January 2023 that Manara Minerals is specifically tasked with securing iron ore (high grade) for Saudi Arabia's green steel expansion. This from the start of the week. Deals to come....
(Ma'aden CEO) Wilt expects the company to intensively expand its prospecting and exploration activities in 2024.
Regarding the company’s projects outside the Kingdom, the joint project with the Public Investment Fund (PIF) to establish Manara Minerals will provide the desired framework for investment in global mining assets and ensure access to strategic minerals that will undoubtedly support the sustainable growth of the Kingdom.
The company made its first investment during the year in Vale and will make more similar investments during 2024 and beyond.
https://www.argaam.com/en/article/articledetail/id/1708043?IRAccessToken=sipchem
Hydrogen unleashed: Opportunities and challenges in the evolving H2-DRI-EAF pathway beyond 2024
February 27, 2024
'While hydrogen use in ironmaking based on the DR process makes sense to produce low-emissions steel, there are specific hurdles that must be overcome to facilitate this shift. The foremost challenges include ensuring an adequate supply of DR-grade iron ore, and establishing a sustainable green hydrogen value chain for steel production.'
and
'H2-DRI-EAF represents a narrative of allocating limited resources to create valuable products. Currently, green hydrogen comes at a high cost, and there is a scarcity of DR-grade iron ore. By judiciously allocating these two resources to green steel facilities, and with the backing of supportive yet rigorous regulations, the transition to green steel can continue to gain momentum in 2024.'
https://ieefa.org/resources/hydrogen-unleashed-opportunities-and-challenges-evolving-h2-dri-eaf-pathway-beyond-2024
PSEI's reference is to Congo Resources, so I'm not sure that I find anything of the sort - certainly not within any of the links given. Meanwhile:
November 2023 :
The African Export–Import Bank (Afreximbank) has signed on Saturday a $96 million term sheet with Sapro Mayoko, one of the leading iron ore producer and exporter in the Republic of Congo.
THE TRADE FACILITY LIES UNDER AFREXIMBANK’S IRON ORE MINE DEVELOPMENT FACILITY PROGRAMME.
'The facility will enable Sapro Mayoko to increase its production and export capacity, and to improve the quality and efficiency of its operations. It will also support the development of the iron ore sector in the Republic of Congo, which is one of the largest and most untapped sources of iron ore in the continent.'
https://en.amwalalghad.com/afreximbank-signs-96-million-trade-facility-with-congos-sapro-mayoko/
Given the above, and this from ZIOC in September 2022:
'Significant engagement underway with other mining project developers in RoC to explore potential collaboration opportunities, especially in relation to logistics solutions and alternatives for upgrades to existing infrastructure.'
And this from PSEI from May 2018:
> Congo Resources Inc., Iron Ore Project, Republic of Congo - Feasibility study for the entire project, including mining, beneficiation, pipeline transportation (250Km long and 20 MTA), harbor and hydropower stations.
> Glengore’s Zanaga Iron Ore Project, Republic of Congo – Bankable Feasibility Study for the pipeline transportation (350Km long and 30 MTA)
then, on balance, PSEI are likely referring to Sapro-Mayoko.