Industrial Minerals – Routes to opportunities
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Objective Capital's Industrial Metals, Minerals & Mineable Energy Investment Summit 2011 ...

Objective Capital's Industrial Metals, Minerals & Mineable Energy Investment Summit 2011

Ironmongers' Hall, City of London
3 November 2011
Speaker: Brian Coope, Industrial Minerals Analyst

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Industrial Minerals – Routes to opportunities Presentation Transcript

  • 1. INDUSTRIAL METALS, MINERALS& MINEABLE ENERGYINVESTMENT SUMMIT Industrial Minerals – Routes to opportunities Brian Coope – Industrial Minerals AnalystIRONMONGERS’ HALL, CITY OF LONDON THURSDAY, 3 NOV 2011www.ObjectiveCapitalConferences.com
  • 2. Industrial Minerals – Routes to Opportunities• Brian Coope – Industrial Minerals Analyst• Differences between Industrial Minerals and Metallic Ores and Fuel Minerals• No terminal markets, lack of standardisation, close relationship between mineral and market, multi-product, multi-use
  • 3. Exploration begins with markets
  • 4. SIX STAGES OF A PROJECT1. Enthusiasm2. Disillusionment3. Panic4. Despair5. Search for the Guilty6. Punishment of the Innocent7. Decorations for those who took no part
  • 5. Routes to Opportunities• Shortages and rising prices• Critical lists• Focus on China• Technology changes• Legislative and environmental changes
  • 6. Potash price spike in 2009
  • 7. Moon journeys – Zircon 1974Reason: Japanese refractory technology shift
  • 8. Zircon Moon journeys 1974, 1989, 1995 and…. Zircon Price US$/tonne 900 800 700 600US$/tonne 500 400 300 200 100 0 1994 1998 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1996 2000 2002 2004
  • 9. 500 1000 1500 2000 2500 01970197219741976197819801982198419861988199019921994199619982000 Zircon Price US$/tonne ……and 2011200220042006 Zircon Moon journeys20082010 Price $/t
  • 10. Critical Lists 1982 2010 2011 House of Lords EU BGSAntimony Antimony AntimonyChromium Beryllium BismuthCobalt Cobalt BromineManganese Fluorspar GraphiteMolybdenum Gallium MercuryNiobium Germanium PGMNickel Graphite NiobiumPGM Indium Rare EarthsPhosphate rock Magnesium StrontiumTantalum Niobium ThoriumTitanium PGM TungstenVanadium Rare Earths Tantalum Tungsten
  • 11. EU Critical Raw Materials Study 2010 Rare Earths Magnesium Antimony Barite Fluorspar Graphite Lithium Borates Magnesite Chromite Diatomite Bentonite Silica Manganese Talc Perlite Titanium Bauxite
  • 12. BGS Risk List 2011 – Top TenElement Risk Index Leading producerAntimony 8.5 ChinaPlatinum group 8.5 South AfricaMercury 8.5 ChinaTungsten 8.5 ChinaRare Earths 8.0 ChinaNiobium 8.0 BrazilStrontium 7.5 ChinaBismuth 7.0 ChinaThorium 7.0 IndiaBromine 7.0 USAGraphite 7.0 China
  • 13. China’s role in world IMs• 1970s – only a few industrial minerals exported – specialist traders Canton Fair• 1980s -- Established trade but low prices lead to anti-dumping• 1990s – Rise in quality and value-added products• 2000s – Increasing domination across the board, export tariffs & quotas, enforced closures of illegal and hi-polluting operations
  • 14. Technology Changes• Clean Energy Technologies – Batteries, Magnets, Phosphor lighting, Solar cells – Rare earths, lithium• TV screens – CRTs to Flat screens – Strontium down, rare earths up• Steelmaking and refractory technology – Magnesia, graphite, alumina, spinels, zircon & zirconia
  • 15. Legislation & Environmental Changes• Asbestos -- wonder-material but deadly – No single substitute – Reinforcing -- glass, ceramic, cellulose, Wollastonite, Talc. Mica – Insulation -- glass fibre, mineral wool, ceramic fibre, perlite, vermiculite – Gaskets, graphite, wollastonite, glass fibre• Fire hazards -- polystyrene ceiling tiles -- perlite again• Fire retardants -- oxides/hydroxides of aluminium, magnesium, antimony -- bromine• Emissions -- FGD limestone to gypsum• Waste & water treatment
  • 16. Opportunities in Industrial Minerals – which route?• Most likely to arise for existing IM producers – Specialised media “Industrial Minerals”, Conferences, etc – Approaches from exploration companies• But exploration companies in Gold, Base Metals, & Oil – May have a regional advantage. When in West Africa, Siberia, or wherever – Take an interest in local minerals and mineral-based industries – Wealth of data often available