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1) Major mining giants Freeport-McMoRan, Vale and Anglo-American are evaluating the possible chance to bid for a chance to purchase Teck Resource base metals business after it spins out its coal assets into a separate business unit, according to people familiar with the matter. This comes as Glencore is fighting to take over the whole company before the spin out of Teck's two businesses occurs - which isn't a foregone conclusion either. Glencore grabbed momentum as Institutional Shareholder Services and Glass Lewis recommended to vote against Teck's spinoff, which would favor Glencore latest proposal as it offers a quicker exit from the coal business. Teck's copper and base metals have high ore grade and are located in geopolitically friendly regions, hence why it would be a highly sought after company to acquire.
2) Mexico's head of mining issued a warning against a proposed overhaul of the country's mining laws. Jaime Gutierrez, the president of the Camimex mining association, said that the move would hurt investor's confidence in the market and could cost the country some $9-billion in lost investment in coming years, including up to 420,000 direct jobs. The overhaul would include shortening concessions from 50 years to 15 years, tightening rules for water permits and requirements to give back at least 10% of profits to communities. Gutierrez also said that if the reform goes through, this could open the door for more trade disputes under the North American free trade pact and taking over the exploration operations makes no sense as the state does not have the technical capacity nor the funds. He also blasted a proposal to grant concessions to mine only one substance, as metals are found in the earth with various other minerals. "Demanding such things shows a complete lack of understanding of the industry," he said.
Source: Mexico's mining law overhaul could cost $9bn in coming years, says mining chamber (miningweekly.com)
3) Apple said that it will only use recycled cobalt in batteries by 2025 as it looks to make all its products carbon neutral by 2030. The company also said that it will use recycled rare earth elements, and in-house printed circuit boards will use tin soldering and gold plating. This is a response to the outcry over the cobalt that the tech industry uses comes from the Democratic Republic of Congo as artisanal miners exploit deposits near the surface.