🗨 Welcome To June!
Hello and welcome to June! ☀️ This month, we have a ton of great things to look forward to in the global mining industry, including:
However you decide to spend your June, remember to wear your sunscreen and drink plenty of water outdoors as it gets hotter! Speaking of getting warm, let’s dig into this week’s Nugget!
Jess Scanlan
Head of New Media
May Monthly Mining Roundup Replay
In our latest Roundup, the team dug into industry leadership data, and how technology could change mining for the better! Watch the recording!
Custom Queries
June 30th is the end of Q2 and the first half of 2023! We know, we aren’t sure where this year has gone either. The Prospector team is here to help with your reports, presentations, comparative analysis, and more! Learn more about our custom data solutions on our website.
AI A Key Weapon In Mining Risk Profile Fight: BHP's McCuaig
BHP's geoscience boss, Cam McCuaig, expressed enthusiasm for the impact of AI tools in mining but cautioned about asking the right questions. He highlighted the challenges of integrating vast amounts of data and the need for timely decision-making. McCuaig stressed the importance of understanding input data and avoiding overfitting. He mentioned AI's potential in visualization, auto-domaining, and resource characterization. AI could aid in quantifying uncertainty and supporting decision-making in mining operations.
This Company Has Developed A Cutting-Edge Way To Recycle EV Batteries
French mining group Eramet is developing recycling techniques for critical metals used in electric car batteries. The aim is to reuse metals like nickel, cobalt, and lithium to make new batteries, in line with Europe's shift towards sustainable energy. Eramet plans to establish a pilot plant in Trappes, France, and a battery recycling plant by 2027. Their goal is to process 50,000 tonnes of battery modules annually, supplying about 10% of the European electric vehicle battery market.
China Is Drilling A 10,000-Meter Deep Hole Into The Earth
Chinese scientists have begun drilling a 10,000-meter borehole in Xinjiang, China, aiming to explore the Earth's crust and test deep drilling technologies. The project will provide data on the Earth's internal structure and help assess environmental risks. President Xi Jinping has emphasized the importance of deep Earth exploration. The drilling is expected to take 457 days. The deepest man-made hole on Earth is still the Russian Kola Superdeep Borehole, reaching 12,262 meters in 1989.
The U.S. Needs A Shift In Perspective On Mining
The United States lacks sufficient mines to meet the demands of the energy transition towards low-carbon technologies. China dominates the global market for critical minerals, putting the U.S. at risk. To address this, the U.S. must build new mines and expand existing ones. Public support and strong environmental standards are crucial. Some successful projects have gained community support by emphasizing economic benefits and national security. Full-value mining and reprocessing mine waste offer additional opportunities.
Google Leads Funding Round For Indian Space Startup Pixxel
Through its India Digitalisation Fund, Google is leading a $36 million funding round for Indian satellite-image startup Pixxel. Pixxel, founded in 2019, is developing a constellation of satellites that can analyze spectral signatures to identify mineral deposits and assess crop productivity. Pixxel has already secured clients such as miner Rio Tinto and agritech company DataFarming. The funding will be used to expand Pixxel's satellite network, with plans to launch six more satellites next year.
The World Has A New No. 2 Copper Exporter
The Democratic Republic of Congo (DRC) has surpassed Peru as the second-largest copper exporter, according to official data from both countries. The shift highlights the increasing investment in Africa's mineral-rich deposits due to political uncertainties and social unrest in South America. Peru, which was the largest copper producer and exporter after Chile, has experienced stagnant copper exports due to political upheaval and community protests. In contrast, the DRC has seen significant growth in copper exports, primarily driven by the high-grade ore extraction by Ivanhoe Mines Ltd. However, whether this shift is temporary or indicative of a long-term reordering remains uncertain.
Each week we want to get your opinion about the mining industry. We'll release the results with next week's Nugget!
We want to know your thoughts - should Copper be considered a critical mineral by the USGS?
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