Mining hotspots this week:The country promotes oil and gas exploration, and the total mining volume of tungsten ore has declined for the first time. Xinjiang has successfully transferred lithium ore prospecting rights
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Mining Hotspot 01 this week
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IMPORTANT NEWS
People's Daily Online and the State-owned Assets Supervision and Administration Commission website of the State Council reported on March 19 that the State-owned Assets Supervision and Administration Commission Party Committee of the State Council recently held an expanded meeting to deeply understand the importance of promoting high-quality development of new energy and ensuring national energy security, and better play the role of central enterprises as the main force. Strengthen the national energy security barrier and make greater contributions. The meeting believed that central enterprises are the national team and main force in ensuring China's energy security. They must insist on establishing first and then destroying, further promote the energy revolution, strengthen clean and efficient utilization of coal, accelerate the planning and construction of a new energy system, increase oil and gas exploration and development efforts, and promote Increase oil and gas reserves and production, accelerate the construction of natural gas production, supply, storage and marketing systems, improve the basic guarantee level of coal and electricity, continue to increase the scale development and comprehensive utilization of non-fossil energy, and ensure the safety and stability of energy supply. At the same time, the meeting pointed out that it is necessary to promote the continuous optimization of the energy structure, promote accelerated innovation in energy science and technology, accelerate the construction of new energy infrastructure, and increase international energy cooperation.
02
The first batch of tungsten mining total volume in 2024 was released, falling for the first time since 2020
IMPORTANT NEWS 
The official website of the Ministry of Natural Resources, Securities Daily, and Minsheng Securities Research News reported on March 18 that the Ministry of Natural Resources recently issued a total mining control indicator for the first batch of tungsten ore (with a tungsten trioxide content of 65%) in 2024 of 62,000 tons, involving 15 provinces (autonomous regions) including Inner Mongolia, Heilongjiang, Zhejiang, and Anhui. It is understood that the first batch of tungsten mining total control indicators in 2024 will drop by 1000 tons compared with the first batch of indicators in 2023, including a decrease of 800 tons in Heilongjiang Province, and a decrease of 100 tons in Zhejiang Province and Anhui Province. This is the first decline in tungsten mining indicators since 2020. The industry predicts that tungsten ore supply may continue to be tight, coupled with downstream demand, the supply and demand gap may support the strong operation of tungsten prices.
03
In 2024, the Inner Mongolia Department of Finance will allocate 850 million yuan to make every effort to ensure breakthroughs in prospecting for scarce minerals and advantageous minerals
IMPORTANT NEWS
央广网3月15日讯，2024年内蒙古财政厅已安排资金8.5亿元，较上年增长近1倍，全力保障自治区紧缺性矿产和优势矿产的找矿突破战略行动和额济纳旗北山、白云鄂博、塔然高勒新街矿区等重点地区重要矿产资源的勘查工作，推动矿产资源增储上产，为全区开展新一轮找矿突破战略行动贡献财政力量。据悉，2023年，内蒙古财政厅共安排资金4.39亿元，重点支持基础地质调查、矿产勘查、煤层气调查评价及水文地质等197个地勘项目。同时，该厅加大对清洁能源（地热、煤层气）勘查和找矿预测研究等工作的投入力度，切实提升了地勘项目的勘查质量和找矿成果。
04
Xinjiang successfully sold the first batch of three lithium ore prospecting rights this year
IMPORTANT NEWS
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05
Inner Mongolia's first mineral geology chronicle was released, providing technical support for a new round of strategic actions for prospecting breakthroughs
IMPORTANT NEWS 
Inner Mongolia Daily, March 19,"China Mineral Geology Chronicles·Inner Mongolia Volume" was officially released recently. It is the first mineral geology chronicle in Inner Mongolia and will provide important support for Inner Mongolia to carry out a new round of mineral prospecting breakthrough strategic actions and mining planning layout in the new era. The geological chronicle was jointly researched and compiled under the guidance of the Inner Mongolia Department of Natural Resources and organized and coordinated by the Inner Mongolia Geological Survey and Research Institute of the region's technical experts in the geological prospecting industry. It lasted for 8 years and filled the gap in the chronicle in the field of mineral resources in Inner Mongolia. The geological chronicles systematically sorted out and summarized the 142 mineral species, 2735 mineral areas and 16 third-level metallogenic belts discovered in Inner Mongolia, achieving full coverage of the three mineral species, mineral areas and metallogenic belts, and clarifying the whole region's mineral resources. At the same time, for the first time, the results of mineral geology research in Inner Mongolia were reflected in the form of chronicles, maps, libraries and popularization.
06
Chinese scientific team discovers two new minerals
IMPORTANT NEWS
Xinhua Agency reported on March 20 that two new minerals applied by Liu Peng, associate professor of the Department of Geology and the State Key Laboratory of Continental Dynamics of Northwest University, and Li Guowu, professor of China University of Geosciences (Beijing), recently passed the International Minerals Nomenclature and Classification Professional Committee of the International Minerals. The Chinese names of the two new minerals are brown-phosphorus and green-phosphorus-iron, which both belong to the green-phosphorus-aluminum group. Their crystal structure characteristics are similar to other minerals in the green-phosphorus-aluminum group, and both are monoclinic. The discovery of new minerals has added two new end members to the green phosphinite family, both of which were found in the Yushui copper deposit in northeastern Guangdong, which is the same as the heavy rare earth minerals Jingwen ore, Wenlan vanadium-yttrium ore and Yuchuan Yttrium ore previously discovered by the team. The origin of origin is the same.
07
The EU approves supply targets for key minerals such as lithium and nickel, with rare earths, lithium, nickel, cobalt and silicon listed as key raw materials
IMPORTANT NEWS 
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08
Brazil releases investment guide for key minerals, detailing the reserves and output of minerals such as lithium, nickel, copper, bauxite and rare earths
IMPORTANT NEWS 
BNAMERICA website, March 18, Brazil's Ministry of Energy and Mines recently released guidelines to attract international investors to develop key minerals that are extremely important to the country's energy transformation. The guide details the reserves and production of minerals such as lithium, nickel, copper, bauxite, rare earths, graphite, cobalt, niobium and manganese in Brazil, as well as infrastructure construction, including highways, railways, ports, airports, Internet and energy. etc. At the same time, the guide also introduces the country's exploration and development needs and regulatory requirements. Brazil's Ministry of Energy and Mines issued a statement saying that the global transition to a low-carbon economy is driving consumption of key minerals needed for electrification of transportation and the development of renewable energy. Brazil's rich key mineral resources will be very attractive to foreign investors.
09
Australia lithium miner Pilbara restarts auction of lithium concentrate, and prices fall by more than 80%.
IMPORTANT NEWS 
Pilbara official website March 18, after more than a year, Australian miner Pilbara (Pilbara) restart lithium concentrate auction. This is the first time this year, the 14th lithium concentrate auction, held on the electronic trading platform Battery Material Exchange (BMX). The volume of ore in this auction is 5000 tons and the grade of concentrate is 5.5%. According to the announcement, the company received pre-bid offers from multiple buyers before the start of the spodumene concentrate auction and finally accepted offers of $1106 / ton (about 7961 yuan / ton). This price is more than 80% lower than the previous auction price of $7505 (about 54000 yuan / ton) in December 2022. It is worth noting that the latest quotation has changed from FOB to CIF. After proportional adjustment for lithium content and freight, the lithium concentrate will cost about $1200 / ton (about 8635 yuan / ton) at SC6.0 CIF China prices and is expected to be delivered around December this year. Corresponding to the cost of lithium carbonate is expected to be January 2025, according to the previous forecasts of a number of institutions, January is the off-season of lithium trading, lithium price is expected to be about 80,000 yuan / ton. Therefore, although the auction price of Pilbara is lower than the expectations of some lithium companies and institutions, the trend of lithium price is still relatively high.
10
The 2028 International Geological Congress will be held in Glasgow, UK
IMPORTANT NEWS 
The official website of the British Geological Survey, March 18, the British Geological Survey recently stated that the 38th International Geological Congress will be held in Glasgow, England in 2028. Currently, the British Geological Survey has cooperated with the Geological Society of London and the Scottish Geological Trust Fund to formulate relevant plans for the conference. The theme of this year is "Earth science provides a sustainable and equitable future". The conference will invite earth scientists from all over the world, as well as academia, Leading experts from industry, government and other departments participated. It is understood that the International Geological Congress (IGC) began in 1878 and is hosted by the International Union of Geological Sciences (IUGS) and is held every four years. In August 2024, the 37th International Geological Congress will be held in Busan, South Korea, with the theme of the conference being "Great Traveler :Journey to the Unified Earth."
11
Brazil and the British Geological Survey Agency signed a cooperation agreement to focus on research on lithium and graphite exploration and development potential
IMPORTANT NEWS 
BNAMERICA website, March 20, the Brazilian Geological Survey and the British Geological Survey recently signed a memorandum of understanding, and the two parties will jointly study the development potential of lithium and graphite resources in the Rekitinonea Valley in northeastern Minas Gerais. The Brazilian Geological Survey said it will share geological data and build three-dimensional geological models as the basis for studying discovered metallogenic systems and building future hydrogeological models. It is understood that the Rekitinonia Valley region has historically been backward in economic development, but due to its rich spodumene resources, the region has attracted more and more companies to invest in recent years. Currently, the first phase of development of the Grottadosillo lithium mine project of Canada's Sigma Lithium Industry Company has been put into operation. In addition, Canadian junior companies Lithium Ion and Atlas Group also plan to carry out related projects in the region.
12
Argentina's key lithium-producing area court orders suspension of new licenses
IMPORTANT NEWS 
路透社 3月17日讯，阿根廷西北部卡塔马卡省一家法院日前命令当地政府暂停发放新的采矿许可证，并要求对当地锂项目进行新的环境影响研究。此裁决源自该地区因用水问题与当地社区关系紧张，涉及洛斯帕托斯河- 翁布雷穆埃尔托盐湖地区。
