clipping adimb 18mar 2013

7/30/2019 Clipping ADIMB 18mar 2013

1/26

18 de maro de 2013O contedo das matrias de inteira responsabilidade dos meios de origem

A misso da ADIMB a de promover o desenvolvimento tcnico-cientficoe a capacitao de recursos humanos para a Indstria Mineral Brasileira

ARGENTINA ORDENA QUEVALE FAA CONCILIAO COM TRABALHADORES 'No poder haver nenhuma demisso', disse ministro do Trabalho.Vale suspendeu projeto no pas que envolvia cerca de 6 mil trabalhadores.

O governo argentino informou nesta sexta-feira (15) que ordenou que a mineradora brasileiraVale mantenha os cerca de 6 mil funcionrios que executavam o projeto bilionrio de potssio RioColorado, que foi suspenso pela empresa no incio da semana, e que faa uma "conciliaoobrigatria" com os trabalhadores.

"No poder haver nenhuma demisso", disse o ministro do Trabalho argentino, CarlosTomada, segundo a agncia Reuters, acrescentando que a Vale "tem responsabilidade social acumprir". Procurada pelo G1, a Vale no comentou o anncio do governo argentino.

A mineradora anunciou na segunda-feira (11) que suspendeu o projeto orado em US$ 5,9bilhes, no qual chegou a investir pelo menos US$ 2,2 bilhes como parte da meta de se tornar umadas maiores fornecedoras de fertilizantes do mundo.

Segundo a Vale, o projeto empregava cerca de 6 mil trabalhadores, entre funcionrios daempresa e contratados indiretamente.

No comunicado divulgado na segunda-feira, a Vale disse que, "no caso de retomada doempreendimento, ser dada a preferncia aos atuais empregados do projeto". A Vale no informou onmero de trabalhadores contratados pela companhia envolvidos no projeto, mas afirmou, por meioda sua assessoria de imprensa, que para estes funcionrios est sendo buscada uma soluo.

Para o governo da presidente argentina Cristina Kirchner, a Vale 'abandonou' o projeto do RioColorado. A empresa chegou a executar 45% das obras de Rio Colorado. Somente em 2012 realizouinvestimentos de US$ 1,4 bilho.

Na quarta-feira, o governo argentino ameaou revogar a concesso da Vale no projeto depotssio Rio Colorado, aps a paralisao do empreendimento.

Em dezembro, pouco antes de colocar os funcionrios na Argentina em licena remunerada esuspender as obras, a Vale disse que estava buscando um parceiro para comprar parte do projeto eajudar a arcar com os custos, num momento em que a mineradora tenta concentrar investimentosno seu negcio principal, de minrio de ferro.
http://g1.globo.com/topico/vale/http://g1.globo.com/topico/vale/


2/26

Mina de potssio Rio Colorado, na Argentina (Foto: Divulgao)

Fonte: G1Data: 15/03/2013

YAMANAGOLD VAI DOBRAR A PRODUO DE OURO NOPAS AT2015

Com operao no Brasil desde 2003 e mais de 9000 empregados na Amrica do Sul, amineradora canadense Yamana Gold em dezembro de 2011 apresentou equity total de C$ 7,58bilhes e ativos totais de C$ 10,966 bilhes. No Pas, a Yamana se tornou um exemplo de empresa jnior de sucesso, principalmente por ter conseguido balancear produo e relacionamento com ascomunidades, como explica Aro Portugal, vice-presidente de administrao e Country ManagerBrazil da Yamana.

Em 10 anos foram muitos prmios relacionados produo e reconhecimento internacionalna rea de sustentabilidade. Em sntese, a Yamana uma mineradora que se destaca nacompetitividade, reduo de custos, atrao e reteno de talentos e no crescimento sustentvel.Um bom exemplo disso a unidade Chapada, em Alto Horizonte (GO), que j produziu at a presentedata quase 1,5 milho t de concentrado de cobre e levou o municpio a ficar entre os top 5 nosprincipais rankings de desenvolvimento socioeconmico do Pas, conta Aro.

No ano passado a empresa, que em 2003 valia menos de US$ 100 milhes e no incio de 2008esse nmero era estimado em mais de US$ 10 bilhes, conseguiu bater seu recorde de produo com1,2 milho onas de ouro, aumento de aproximadamente 9 % em relao a 2011, ao custo de US$245 para cada ona produzida. Em 2013, a produo deve ficar na faixa entre 1,44 milho onas a 1,6milho onas, um aumento de 20 % em relao ao ano anterior, principalmente devido operaocontnua da mina de Mercedes, no Mxico, ao ramp up do projeto de expanso da Minera Florida,Chile, e ramp up em Ernesto/Pau-a-Pique e C1 Santa Luz, alm do start-up da produo em Pilar,essas ltimas trs no Brasil.


3/26

J para 2014 a produo dever ficar entre 1,6 milho onas e 1,77 milho onas, 33% maiorque a de 2013, gerada pela plena operao em C1 Santa Luz, Ernesto/Pau-a-Pique, Pilar, dasexpanses no Brasil em Suruca e do corpo Sul em Chapada, e em Gualcamayo, na Argentina. Em2015, a produo estimada se manter em 1,75 milhes onas de ouro.

No Brasil, como explica Aro Portugal, a perspectiva otimista, C1 Santa Luz, Pilar eErnesto/Pau-a-Pique, so projetos que juntos iro gerar aproximadamente 13 mil novos empregosdiretos e indiretos, com mais de 75 % de mo de obra local, formada, desenvolvida e qualificada pelaYamana. Eles contribuiro para dobrar a produo de ouro no Brasil, chegando ao nvel de 750 milonas at 2015 finaliza.

Fonte: Minrios & MineralesData: 12/03/2013

MINRIO DE FERRO: VETRIA EXPANDE INVESTIMENTOS PARAR$ 11,5 BILHES EMCORUMB

Vetria Minerao ampliou os investimentos de seu projeto de minrio de ferro em Corumb(MS) dos atuais R$ 7,6 bilhes para R$ 11,5 bilhes. Segundo estudos feitos pela Coffey Mining, opotencial da jazida prxima a Corumb, no macio de Urucum, indicou recursos minerais inferidos de10 bilhes t, dez vezes mais o estimado inicialmente. Com os novos dados, a capacidade de produo

de minrio de ferro salta de 20 milhes t para 27,5 milhes t. O projeto integrado com embarquesno prprio porto, localizado no Terminal Porturio de Santos (SP). Outro ponto importante doprojeto a qualidade do minrio com teor metlico de 64,5%, com cerca da metade de materialgranulado (lump), que tem prmio no mercado mundial em relao ao sinter-feed (fino) e ao pellet-feed (superfino). Quando sai de Corumb, o minrio transportado por 1,7 mil km at Santos pelamalha Oeste da ALL. A Vetria destina a maior parte dos investimentos R$ 3,7 bilhes - no materialrodante (250 locomotivas e 7 mil vages); enquanto a parte de troca de dormentes, trilhos econstruo de ptios receber R$ 2,7 bilhes. A rea de minerao ficar com R$ 2,3 bilhes e oterminal porturio, com R$ 2,8 bilhes.

Fonte: Brasil MineralData: 06/03/2013

CONFERENCE FULL OF OPTIMISTS

Speaking at a luncheon presentation, hedge fund magnate Eric Sprott said that too many juniors are taking all the cash flow from their producing mines and putting it into the next one.

Your market cap will go down, he said. He argued that the ones who can convert their cashflow to dividends will change their fortunes dramatically. And that will allow them to acquire othercompanies.


4/26

Analyst John Kaiser said that the junior market needs to disconnect from the current situationand simply focus on the future. At this point, investors are using any negative sentiment about themining sector as an excuse to hammer juniors. He does not see that changing imminently, andreiterated his view that hundreds of them need to disappear, leaving the competent ones behind.

The sector is held prisoner by a narrative that I think is counter -productive, Mr. Kaiser said. Some juniors already view an industry culling as a key part of their strategy.

Jurgen Beier, Canadian mining leader at Deloitte, said a number of his clients have elected tostand back and wait for other juniors to vanish. That would leave far fewer competitors chasing thesame capital. For now, theyre just going to have to get down to minimum cash burn, he said.

While raising money is extremely tough right now, it is not impossible. Experts said thecompanies with strong assets and management should find ways to do it beyond the very challengingdebt and equity markets.

For example, royalty and streaming transactions have evolved from a fringe financing optionto a central one in the last year. At the PDAC show, streaming companies such as Silver WheatonCorp. and Sandstorm Gold Ltd. are the ones that everyone wants to talk to.

Silver Wheaton CEO Randy Smallwood said in an interview that he is ready offer a lifeline to juniors with very early-stage projects. To date, the company has only acquired silver streams fromprojects that are fairly well advanced. But Silver Wheaton is now working on transactions with juniorsthat do not even have a pre-feasibility study.Equity investments from senior companies remain a viable option for some juniors as well. Whilemany seniors are cutting back spending themselves, they are still keen to get into good projects early.

The PDAC show is full optimists, and the consensus here is that when the sentiment in metalsmarkets turns positive, the tide could turn quickly for juniors as well. The question is simply whenthat will happen, and how many will actually be positioned to benefit from it.

In the meantime, some brave investors continue to wade into the junior market. Bay Streetlegend Ned Goodman said in a presentation that he is happy to take advantage of their current woesto keep buying them.

Fonte: Financial PostData: 06/03/2013

WEATHERING THE STORM Access to capital is one of the most significant challenges facing the Canadian

mining industry

Along with its global counterparts, the Canadian mining industry has had to weather a fewtough years. From volatile and uncertain economic and market factors, through to heightenedregulatory burdens and difficult labour issues, mining firms have demonstrated that this is not anenvironment for the faint-hearted.Show Me the Money

Prospectors and Developers Association of Canada (PDAC) president Glenn Nolan tellsMiningWeekly that access to capital is one of the most significant challenges facing the industry.

Our members are primarily small- and medium-sized enterprises that rely on equity financingto support early stage, higher-risk exploration activities. The challenge for our industry is to find a


5/26

way to finance exploration. The fragile state of the global economy is having a negative impact oncompanies share prices and their ability to raise hig h-risk financing, says Nolan.

Further, project costs are rising as a result of exploration, development and productiontaking place in more complex orebodies and deeper-lying deposits with lower grades, and in moreremote locations. And as costs rise, financing becomes more critical.

The PDAC advocates for solutions to reduce the effect of the current financial situation onthe mineral industry in Canada and to retain Canadas leadership position in global exploration.

With respect to exploration an d equity financing, Canada has innovations such as flow-through shares and the Mineral Exploration Tax Credit, which offer individual Canadian investors anadditional incentive to support higher-risk ventures. Flow-through enables small explorationcompanies, which usually dont have any cash flow, to pass along or flow-through eligibleexpenditures to investors, who use them to reduce and defer their taxes.

Nolan reports that one way PDAC is meeting this challenge of financing for junior companies,is through mergers of equals that is, exploration companies joining together to combine humanresources, project synergies, and finances to make stronger investment propositions.

On the mining side, we continue to see strength in operations, but cost co ntainment is key toensuring construction projects are delivered on time and on budget, says Nolan.

Diversified resources company Fortune Minerals VP operations Mike Romaniuk agrees that itis a challenging environment for the minerals and exploration sector, with economic uncertainty andcapital market volatility causing potential investors to take a wait-and-see approach.

As a result, financing through the capital markets is becoming increasingly difficult to secureand project development is advancing at a slower pace. The time required to permit a project, theavailability of critical infrastructure, reduced support from fiscally challenged governments and theever-increasing challenge to contain labour and construction costs in remote locations have causedinvestors to seek greater certainty prior to committing capital. Unfortunately, the long period of timerequired to bring a project from discovery to production is at odds with the market expectation of solid returns on a quarterly basis, says Rom aniuk.

He says that for projects to reach fruition companies need to recognise and plan to deliver thecertainty that the market desires through additional engineering and project planning efforts.

Governments need to accept a role in developing critica l infrastructure and continue to helpdevelop a cost competitive workforce. Lastly, investors need a better appreciation of projecttimeframes and rewards over the full development cycle, says Romaniuk.

The sector will remain challenged, while market uncertainty and volatility persist, andcompanies will need to seek out alternative sources of capital, such as strategic investors indeveloping nations, as their comfort allocating capital over a longer period seems in line with theirrequirement to secure resources for their economies. Challenging Times

Mining Association of Canada (MAC) president and CEO Pierre Gratton tellsMining Weekly there are five key issues facing the Canadian mining industry in the near term, namely the state of the global mining economy, the Canadian regulatory burden, trade and investment protectionism, ashortage of skilled workers and the need for critical infrastructure.

As the mining industry is truly international in nature, we are susceptible to the globalmarket. Continued global economic uncertainty and recent commodity price fluctuations are causingsome jitters in the sector, says Gratton.

However, we also know that mining is cyclical and that growth in our sector will continue tobe supported by emerging market growth, notably China and India who are only at the infancy stagesof their urbanisation.

Gratton notes that although the mining industry raised US$31.7-billion in equity worldwide in2011, this is less than half the amount seen in 2009.


6/26

This decline mainly reflects the challenges of raising capital in the current global economicenvironment. Although the effects of the global recession of 2008 to 2009 were relatively short-livedfor the mining industry in many respects, it has managed to create lasting nervousness in theinvestment environment. This is especially true for junior miners, where project financing challengespersist, says Gratton.

In terms of the regulatory burden faced by Canadian mining firms, Gratton says that, despitethe federal g overnments recent legis -lative changes in 2012 aimed at streamlining the project reviewand permitting process, uncertainty remains over how these changes will be implemented,particularly for the Canadian Environmental Assessment Act, the Fisheries Act and the NavigationProtection Act.

Although the changes are a positive step toward one project, one review, the industryrequires clarity and effective transitioning from the federal government to achieve the intendedoutcomes and to spur responsible gr owth in the industry, says Gratton.

He adds that the industry requires the support of all levels of government to ensure the sectorhas access to an efficient regulatory framework and operates in a competitive business environment.

We also rely on government to make strategic investments in a variety of areas to supportindustry growth. This includes, but is not limited to, education and skills training, immigration, trade,infrastructure, and research and development. Government support helps put Canada in a betterposition to capitalise on an estimated C$140-billion in new mining investment nationwide over thenext decade, says Gratton.

With regards to trade and investment protectionism, Gratton says that many nationalgovernments have recently attempted to gain more mining revenues by suspending the issuance of permits and freezing licences.

These forms of resource nationalism are a major risk to mining companies operating withinCanada and abroad. The Canadian government can mitigate political risks like these by negotiatingbilateral investment and trade agreements. Businesses, for their part, need to invest in legal andfinancial protectionism to manage international operations in turbulent times, says Gratton.

Another often cited problem in most mining countries is the shortage of skilled workers.This continues to be a major concern nationwide across the full spectrum of mining

positions. For example, an estimated 65% of geoscientists will reach retirement age in the nextdecade. Addressing this challenge will take a large and coordinated effort by the industry,educational institutions and all levels of government, states Gratton.

He also raises the issue of the need for critical infrastructure, with mines often located inremote areas and requiring roads, marine access and power grids to operate.

This issue is particularly acute in Canadas North where little-to-no infrastructure exists tosupport proposed mining projects. A long-term strategic approach to infrastructure investment,supported by government, will be required to overcome current challenges, says Gratton.

Looking Ahead However, Gratton states that despite some worries over the global economy, the Canadianmining sectors economic prospects remain bright.

Given the growth projections for China, India and other emerging markets, and assumingthat a positive investment environment continues, the demand for minerals and metals is likely toremain strong over the medium to long term.

The Canadian mining industrys eco-nomic prospects are still bright and the fundamentalsare in place for long-term growth. Regardless of recent concerns over the growth rates of China andother emerging markets, it is widely held that growth, even if at a moderately reduced pace, is likelyto rem ain strong over the long term, says Gratton.

Domestically, the sector shines as a key driver of Canadas economic strength, contributingC$35.6-billion to the nations gross domestic product in 2011 and employing more than 320 000people across the country. Nearly 3 200 additional companies supplied engineering, geotechnical,


7/26

environmental, financial and other services to mining operations the second-largest mining supplysector in the world.

In 2011, the value of Canadian mineral production rose by 21% to a record C$50.3-billion, andmineral exploration increased by 41% to a record C$3.9-billion. The industry exported a recordC$101.9-billion worth of metals, non-metals and coal in 2011, accounting for 22.8% of Canadas totalexports.

Canada is a prospectors dream and continues to attract world attention. In 2011, Canadawas once again the top destination for exploration investment and spending increased to a recordC$3.9-billion, says Gratton.

From coast-to-coast there are immense opportunities for mining development. MACestimates that C$140-billion-worth of mining development could take place over the next decade,with investments to be made in almost all areas of Canada.

He reports that a region where tremendous growth is likely to occur is C anadas North, oftenconsidered the new frontier for new mining investment.

Canadas three territories are rich in untapped resources, but development will requiresignificant collaboration with Aboriginal communities, as well as infrastructural investment, he says. A Global Leader

Gratton reports that Canada remains one of the worlds top mining jurisdictions by a varietyof measures. We are the leading mining finance centre on the planet, he says.

The Toronto Stock Exchange (TSX) and the TSX-Venture Exchange (TSX-V) represent the topexchanges for public mining companies, and together handled 90% of the worlds public miningfinancings in 2011, making up nearly 40% of the worlds mining equity capital.

He adds that recent data also shows Canada to be the worlds top destination for explorationspending, hosting 18% of global investment in 2011.

In terms of mineral production, Canada ranks among the top five countries in globalproduction of potash, uranium, cobalt, aluminum, titanium, platinum, tungsten, sulphur, diamonds,nickel and chrysolite.

These figures showcase Canadas strength as a mining powerhouse and demonstrate theimportance of keeping the industry competitive. If we lose our competitive edge, we risk fallingbehind other leading min ing jurisdictions, says Gratton.

TSX and TSX-V head of business development global mining Orlee Wertheim tells MiningWeekly that while 2012 was a difficult year for equity markets globally, companies on the TSX andTSX-V still succeeded in raising capital. Both are subsidiaries of the TMX Group, which Wertheimreports ranked third in the world for equity capital raised.

In 2012 the TSX and TSX-V raised C$56.3-billion, which Wertheim says represents their third-highest year ever with C$64.9-billion raised in 2009 and C$58.8-billion raised in 2007.

For the fourth consecutive year TMX ranked first for new listings, with a total of 293 new

listings in 2012; it ranked third in the world for new international listings, with 31 (compared to 33 atLondon Stock Exchange Group and 32 at NYSE Euronext); and ranked seventh by total marketcapitalisation.

Wertheim adds that, while 2012 was a difficult year for junior mining issuers, it is still seeingactivity in the mining sector and companies that are at the more advanced exploration/developmentstage are still able to get financed. While the total equity dollars raised for our TSX-V companies wasdown from 2011

Fonte: Mining WeeklyData: 06/03/2013


8/26

GRUPO CANADENSE GASTAR$ 555 MI PARA PRODUZIR'SUPERAO' NABAHIA

Um metal fundamental na produo de foguetes, armas e navios levou um grupo canadense ase instalar no interior baiano. Na quinta-feira (21), aps passar por China, Rssia, Austrlia e frica doSul, a Largo Resources lanar a pedra fundamental de uma fbrica em Maracs, a cerca de 360 kmde Salvador.

Com incio de operao marcado para 9 de novembro, a Vandio Maracs ser a primeiramina de vandio das Amricas. E, segundo a empresa, com o maior teor do metal e o menor custo deproduo do mundo.

O investimento chegar a R$ 555 milhes, parte via BNDES (Banco Nacional deDesenvolvimento Econmico e Social) e outra, graas a acionistas do grupo. Os bancos Ita, Bradescoe Votorantim tambm apoiam o projeto.

"J estamos com a construo muito avanada e agora iniciamos o momento mais nobre daobra, que a montagem da unidade de processamento", afirma Folha o diretor executivo dasubsidiria brasileira, Kurt Menchen.

Gacho que mora h 37 anos na Bahia, ele diz que atualmente existem 950 pessoastrabalhando na planta --no pico, sero 1.200 entre operrios e engenheiros. Depois, o nmero cairpara 600, no comeo da operao, at os 400 "fixos" da fbrica.

A mo de obra, por ora, local. "Maracs tem demonstrado at ento capacidade paraatender s nossas necessidades. Mas, a partir do segundo e terceiro anos, a gente pode trazer gentede fora ou contar com o retorno dos migrantes da regio", estima.

O vandio, de acordo com Menchen, usado em ligas para a produo de aos de altatecnologia e vem se tornando cada vez mais comum.

Ele aponta para os mercados aeroespacial, aeronutico, de elevadores, prdios e tubulaes"superpotentes", alm da indstria blica. As reas de qumica e medicina o utilizam em menorescala.

"Onde voc quer um ao de altssima resistncia e, ao mesmo tempo, que reduza a massa, vaiver vandio na liga", diz o CEO da Maracs.

A empresa acredita que ter retorno em dois anos extraindo cerca de 13 quilos de vandiopara cada tonelada de rocha explorada. Ao todo, a jazida produzir em torno de 5.100toneladas/ano. O produto pode ser vendido a US$ 34 (R$ 67) o quilo.

No pas, a Largo ainda tem projetos em Currais Novos (RN) e Campo Alegre de Lourdes (BA).Porm, a prioridade a expanso at 2016 da unidade de Maracs.

Fonte: Folha de So PauloData: 18/02/2013

HRISSUES PUT MINING SECTOR COMPETITIVENESS AT RISK

Without exception the mining sector the world over must deal with the people factor. In thisregard Canada is no different, with human resources (HR) challenges one of the largest threats to thefuture competitiveness of its mining industry.


9/26

The Mining Industry Human Resources Council (MiHR) is the national HR council for Canadasminerals and metals industry and its most recent labour market report reveals that the industry willneed to hire 112 000 workers by 2021 in order to meet the needs of the sector.

MiHR executive director Ryan Montpellier tells Mining Weekly that it is becoming moredifficult to find experienced and skilled workers and the mining industry is faced with increasedcompetition for talent from other sectors and an inefficient labour market that stems from barriers toworker mobility.

It is important that the mining industry continues to diversify the labour pool by mak ingbetter use of all sources of labour, such as women, new Canadians and Aboriginal peoples, saysMontpellier. He adds that attracting more young people to the industry and developing programmesto help retain mature and/or retiring workers will help to mitigate the effects of the skills shortage.

This skills shortage will continue to lead to increased labour costs, as the race to securetalent continues. The skills shortage warning has started to lose its effect, as companies have beenhearing the same message for years, but the fact remains that we need to act now before we findourselves facing an uptick in the market with no workers to sustain it, states Montpellier. In fact, in2012 we have already seen several large potential mining projects delayed or outright cancelledowing to rising costs.

Since its inception in 1996, MiHR has convened industry, including mining employers,organised labour, educational institutions and Aboriginal communities, to develop stakeholder-ledHR programmes that focus on the sustainability of the mining industry.

Montpellier explains that, as seen in other sectors across Canadas economy, with theworkforce aging, combined with industry growth due to increased international demand for Canadiancommodities from countries such as China and India, the mining industry faces a skills shortage.

As the baby boom generation begins to reach retirement age over the next decade, Canada isexpected to reach a point where there will be more people able to leave the labour force thanentering it and the urgency for the mining sector is greater than for many other sectors, he warns.

This effect may, in fact, be more pronounced in the mining sector. Over the last 20 years, the

average age of retirement in the Canadian mining industry has been 59.5, which is younger than theaverage of 62 across the entire economy. Thus, the mining industry may face the retirementpressures sooner than other industries.

MiHRs latest research indicates that almost 40% of the employees in the min ing industry areover 50 years old, meaning that in the next decade, the industry will be losing more than 67 000people to retirement. In the next five years alone, one-third of the industry will be eligible to retire.

Montpellier states that although the mining industry offers many rewarding and challengingcareers and is one of Canadas highest -paid sectors, known for its commitment to safety and excitingopportunities for professional development and travel, it remains difficult to retain talent within theindustry.

Unfortunately the rural and remote location of many mining and exploration sites makesretention for the industry a challenge. Also, the shift work and in many cases the fly-in/fly-outschedules can be challenging for people who are also t rying to balance work and family life, saysMontpellier. He explains that competition for skilled workers is being felt on a number of levels.

First, within the industry itself, companies are competing for a larger portion of a shrinkinglabour pool.

Mining also faces competition from other industrial sectors in Canada such as oil and gas,construction and forestry.

Finally, the Canadian mining industry faces international competition. As Montpellier puts it:Mining is a global business and top talent will often migrate to the location of the orebodies.

He reports that companies are imple-menting a number of programmes to try and retain theirtop talent, adding that retention goes beyond competitive salaries and includes factors such as


10/26

learning/career development opportunities, international work opportunities and flexible workenvironments. Many firms are also exploring dual-career paths as another retention strategy.

The primary goal of this type of development approach is to enable greater advanc ementpossibilities for highly skilled technical employees who might otherwise plateau too early within theirarea of specialty, says Montpellier.

Skills shortages are being felt across all occupational groups, but Montpellier reports they aresignificantly greater for trades and undesignated occupations.

Addressing skills shortages for specific occupational groups requires a coordinated effortbetween industry and education and there are several initiatives being led by a number of organisations to add ress these challenges directly. MiHR has developed and is implementing severaltargeted programmes to tackle the issue.

Montpellier explains that Explore for More is the councils career attraction brand thatprovides a myriad of information and resources about the mining industry. The brand is readilyadaptable to provincial and regional needs.

The Virtual MineMentor Program is one facet of the Explore for More brand and is a popularprogramme that pairs enthusiastic industry professionals with postsecondary students or miningcareer seekers in mining- related programmes. The programme promotes the development of industry connections and knowledge sharing and helps career seekers navigate the industry.

As Canadas first and only national mining certification programme, the Canadian MiningCertification Program (CMCP) certifies workers in undesignated occupations such as undergroundminer, minerals processing operator, surface miner or diamond driller, against a nationaloccupational standard. The programme will help to establish standardised skills in mining across thecountry and also enhance worker mobility across provincial borders.

Mining Essentials is an employment training programme for Aboriginal peoples who areinterested in exploring their career options in mining. It teaches both the essential skills and workreadiness skills that the mining industry requires to be considered for an entry-level position. Thisprogramme was created to help companies and communities meet joint hiring and employment

targets.Montpellier explains that, as outlined in MiHRs 2011 Canadian Mining Industry Employment

and Hiring Requirements report, the mineral exploration and mining industry is the number oneprivate sector employer of Aboriginal (First Nations, Mtis and Inuit) peoples in Canada. Nearly 8% of the industrys labour force self -identifies as Aboriginal, a proportion that is far above the rate of participation in the rest of the Canadian labour market, at about 4%.

However, the majority of Aboriginal peoples employed in the industry are engaged in entrylevel or labour-related occupations. The sector underperforms the rest of the labour market ininclusion of Aboriginal peoples in knowledge-worker roles, defined as highly skilled individuals withcollege and university educations.

Aboriginal peoples are a key source of talent for exploration and mining employers as theyface skills shortages in the near future. The majority of mining activities occur in close proximity toAboriginal communities and the industry is a major employer of Aboriginal peoples. Also, almost half of Aboriginal people are under 25 years old and can step in to help fill this gap, says Montpellier. He believes that raising awareness of the HR issues and mobilising industry to work collaboratively toaddress the challenges are two of the councils most significant achievements.

A specific example that demonstrates this collaborative effort is the CMCP, with more than100 stakeholders across the country involved in the design, development, validation andimplementation of the certification programme.

Today, the programme continues to gain momentum with nearly 500 people certified and

several thousand others to be certified in years to come as more and more mining companies andcontractors implement the programme.


11/26

He adds that 2013 is a year of transition for MiHR as it develops a new governance model andstrategic plan that will further enhance its ability to bring industry together to address the skillsshortage.

Our visionis to ensure that the Canadian mining sector has an appropriately sized, skilled andadaptable workforce to meet the evolving needs of the sector. MiHR continues to evolve and adaptto meet the needs of the Canadian mining sector, says Montpellier.

At this years PDAC event MiHR will be presenting information on its Mining EssentialsAboriginal engagement programmes during the session on Aboriginal peoples and the miningindustry.

Fonte: Mining WeeklyData: 06/03/2013

ROBERTOVENTURA DESTACA IMPORTNCIA DO PROGRAMA DE GEOQUMICAPARA O SETOR MINERAL

O diretor de Geologia e Recursos Minerais da CPRM, Roberto Ventura, participa nesta tera-feira (12/3), no escritrio do Rio de Janeiro, do workshop sobre Explorao Geoqumica atravs deRegolitos. Durante o evento, o pesquisador Ravi Anand apresenta estudos que esto sendorealizados pela comunidade acadmica internacional. O objetivo do encontro divulgar pesquisas narea de geoqumica para profissionais da CPRM e do setor mineral brasileiro.

Para Ventura o seminrio desdobramento da retomada das pesquisas em geoqumica pelaCPRM e busca construir projetos e estudos em parceria com empresas privadas. A partir do ano

passado, de uma forma mais sistemtica, a CPRM iniciou um programa em geoqumica onde j foramcoletadas mais de 50 mil amostras no Brasil, principalmente de sedimentos de corrente. Essematerial vai estar disponvel para o Brasil inteiro em breve, nossa ideia montar um bando de dadosde geoqumica para pesquisa, disse.

O diretor espera que esse banco de dados venha a ser utilizado como uma base deprospeco mineral pelas empresas de minerao. Ventura tambm comentou a importncia datransmisso do evento ao vivo pela Web. Desejo que esse tipo de procedimento seja mais comum efrequente para que possamos criar uma interao maior com os nossos clientes, disse, referindo -se representantes de empresas e entidades do setor mineral presentes na abertura do Workshop.

Durante o evento, Anand apresenta palestra sobre os seguintes temas: Formao de TerrenosRegolticos e suas Implicaes na Explorao; Meios de Amostragem para Explorao e ModelosExploratrios; Compreenso da Formao de Anomalias Atravs de Coberturas. Para Claudio Porto,chefe da diviso de geoqumica da CPRM e um dos organizadores do evento, o estudo do australiano capaz de influenciar os trabalhos que vm sendo realizados no Brasil. Porto tambm far umaapresentao no workshop.

Anand especialista em geoqumica regoltica, biogeoqumica, evoluo da paisagem natural,processos climticos, ambientes laterticos e explorao geoqumica da Organizao de PesquisasCientficas e Industriais da Commonwealth (CSIRO), eleito Palestrante Destaque pela Associao deGeoqumicos Aplicados. O pesquisador tem mais 180 artigos publicados, e prmios em diversas reasde pesquisa sobre explorao mineral.

Fonte: CPRMData: 12/03/2013


12/26

VALE SUSPENDE PROJETO DE POTSSIO NAARGENTINA DEUS$ 6 BILHES

Mineradora fracassa na tentativa de negociar impostos com o governo CristinaKirchner

A Vale anunciou nesta segunda-feira a suspenso do projeto de potssio Rio Colorado, naArgentina, onde chegou a investir pelo menos US$ 2,2 bilhes como parte da meta de se tornar umadas maiores fornecedoras de fertilizantes do mundo.

As obras de Rio Colorado sero interrompidas e todos os cerca de seis mil empregados quetrabalham no projeto, entre terceirizados e funcionrios prprios da Vale, sero demitidos, disse umafonte com conhecimento direto do assunto.

A empresa colocou o projeto em reviso em abril de 2012 devido a preocupaes cominflao, impostos, infraestrutura e poltica cambial do pas vizinho, segundo disse na ocasio opresidente da companhia, Murilo Ferreira.

A segunda maior mineradora global decidiu suspender o projeto aps meses de negociaesfracassadas com o governo argentino. A empresa procurava obter um benefcio tributrio previstoem lei --o que lhe foi negado, disse a fonte Reuters, na condio de anonimato.

"A Vale informa que comunicou... ao Governo da Repblica Argentina que est suspendendo aimplantao do projeto Rio Colorado tendo em vista que no contexto macroeconmico atual osfundamentos econmicos do projeto no esto alinhados com o compromisso da Vale com adisciplina na alocao do capital e a criao de valor", disse a empresa nesta segunda-feira em

comunicado ao mercado.Nenhum representante do governo da Argentina estava imediatamente disponvel para

comentar o assunto.A deciso segue a estratgia da Vale de reduzir investimentos, sair de projetos que no lhe

do retorno e cortar custos diante do cenrio menos favorvel que tem reduzido ganhos dasmineradoras .

"A economia mundial no vai bem, o governo argentino apresenta risco de interveno, demodo que a Vale deixou o projeto... os acionistas querem rentabilidade. A Vale est se livrando deprojetos como este porque a situao mudou", afirmou o analista Carlos Manuel de Sousa, dacorretora Lopes Filho Associados.

As aes da Vale, que operaram em queda pela manh, subiam 0,9% s 17h18, enquanto oIbovespa tinha leve queda no mesmo horrio.A mineradora, contudo, no descarta a possibilidade de retomar o projeto, orado em US$ 5,9

bilhes. "No caso de retomada do empreendimento, ser dada a preferncia aos atuais empregadosdo projeto", informou a mineradora.

A Vale no abandonar as jazidas de potssio na Argentina e continuar zelando por seusdireitos de explorao na regio.

"A Vale continuar honrando os compromissos relativos s suas concesses e seguirbuscando solues que melhorem os fundamentos econmicos do projeto, para ento avaliar a suaretomada", disse a empresa.

A Vale j executou 45% das obras de Rio Colorado. Somente em 2012 realizou investimentosde US$ 1,4 bilho, mesmo em meio a dvidas sobre a continuidade do empreendimento.


13/26

Cerca de um ano antes de a Vale anunciar a reviso de Rio Colorado, o governo da provnciade Mendoza, onde esto as reservas de potssio, havia suspendido o empreendimento, alegando quea mineradora no teria cumprido alguns itens contratuais, como a realizao de compras locais e acontratao de trabalhadores na regio.

No entanto, houve um acordo em seguida para a Vale seguir adiante com o projeto, quecompreende o desenvolvimento de reservas com capacidade de 4,3 milhes de toneladas de potssiopor ano.

O projeto previa ainda a construo de um ramal ferrovirio de 350 km e instalaesporturias.

A meta da Vale era se tornar um dos maiores fornecedores de fertilizantes, com projetostambm no Brasil, Peru e Canad.

Fonte: IGData: 11/03/2013

WORLDWIDE EXPLORATION TRENDS

Basis for estimated nonferrous exploration total SNL MEGs 2012 exploration estimate is based on information collected from almost 3,500

mining and exploration companies worldwide, of which more than 2,500 had exploration budgetsreported in the Corporate Exploration Strategies (CES) study. These companies (each budgeting at

least $100,000) together allocated $20.53 billion for nonferrous exploration, which we estimatecovers about 95% of worldwide commercially orientednonferrous exploration spending. Adding our estimates of budgets that we could not obtain, the2012 worldwide total exploration budget reached $21.5 billion.

Although iron ore exploration remains outside the scope of the CES and is not included in theanalysis throughout the remainder of this report, we began coverage of iron ore explorers in 2011when we initially surveyed companies for their total ferrous budgets above and beyond the coretargets detailed in the CES. Including the allocations by a number of pure iron ore producers andexplorers that were not otherwise part of the study, we were able to aggregate a total budget of about $2.89 billion for iron ore in 2012, up from $1.84 billion in 2011. Although our coverage of iron

ore explorers is not as comprehensive as it is for other commodities, we believe the budgets of thesecompanies represent a significant share of the 2012 worldwide iron ore exploration total.Aggregating the iron ore budgets with the budgets for the other commodities covered by the CES, thetotal 2012 exploration budget rises to $23.42 billion, of which 12% is attributable to iron ore.Summary of overall trends

Figure 1 shows SNL MEGs estimate of annual nonferrousexploration allocations since theearly 1990s relative to a weighted annual metals price index. The graph indicates the cyclical natureof exploration investment and the correlation between metals price trends and exploration spending.Rising metals prices fueled an initial increase in worldwide exploration from 2002s low, while theemergence of Chinas appetite for resources led to a multiyear bull run culminating in the worldwide

exploration budget total hitting a new high of $13.75 billion in 2008a 677% increase from thebottom of the cycle in 2002.


14/26

The mining industrys boom years came to an abrupt halt in September 2008 as the world fellinto the worst economic downturn in decades. The resulting $5.77 billion (42%) drop in explorationspending in 2009 from 2008s high was the largest year-on-year decline (in both dollar andpercentage terms) since SNL MEG began the CES in 1989. Most metals prices bottomed in early 2009;however, the industry recovered much more quickly than predicted. Through 2010 and 2011, mostmining companies increased their explo ration budgets, lifting the industrys total budget to almost$17.25 billion in 2011. In 2012, despite a slowdown in Chinas economy, the threat of economiccollapse in Europe, and political and economic uncertainty in the United States, worldwideexploration allocations rose a further 19% to $20.53 billion, setting a new all-time high.Exploration expenditures rise in all regions

Exploration allocations for all regions increased to record highs in 2012, led by the largestdollar increases in Latin America and Africa. Latin America remained the most popular explorationdestination, attracting 25% of global spending in 2012; six countriesMexico, Chile, Peru, Brazil,Argentina, and Colombiaaccounted forthe lions share of the regions total. Gold remained the top Latin Americanexploration target for the thirdconsecutive year, while base metalsremained at its smallest share since thelate 1990s.

Africa experienced the second-largest increase in both percentage anddollar terms. With its share of worldwideexploration budgets rising to 17%, it jumped from third to second placeregionally in 2012. For the second time inthe past three years, the Democratic

Republic of Congo held top placefor exploration spending in Africa. An increased focuson West Africa translated into gold receiving thelargest dollar increase in 2012, although golds shareof overall African budgets fell to 51% from 53% in 2011. Planned expenditures for other targets morethan doubled, raising their share of overall budgets to 11% from 6%. Conversely, the percentage of total allocations devoted to diamonds fell for the sixth consecutive year to a record low of 6% in2012.

After sitting in second place for exploration spending for more than a decade, Canadadropped to third place in 2012 after being overtaken by Africa. Allocations were up just 4% from

2011the smallest percentage and dollar increase of any region and accounted for 16% of theworldwide total budget. However, more companies had budgets for Canada in 2012 than for anyother region, and 91% of the companies covered are headquartered in Canada. Ontario accountedfor more than a quarter of allocations to Canada, while British Columbia replaced Quebec in secondplace. Gold allocations dropped for the first time since 2009, low ering its share of Canadas total to49% from 55% in 2011, while the percentage devoted to other targets, with an emphasison potash, rose to 19% from 12%.

Eurasian countries made up the region with the fourth-largest budget, led by allocations forChina and Russia, and by four other countries Mongolia, Kazakhstan, Finland, and Turkeythateach attracted more than $100 million in exploration budgets in 2012. Base metals replaced gold as

the regions top target, led by major allocations for copper and nickel in China, Mongolia, Russia, andKazakhstan.

Figure 1: Estimated Global NonferrousExploration Budget Totals, 1993-2012.


15/26

Allocations to Australia rose just 11% in2012less than the 19% worldwide averageincreaseand lowered the countrys share of overallbudgets to 12% from 13% in 2011. Mining reforms atthe national and state levels dominated theAustralian minerals industry over the past severalyears, most of which industry watchers say willreduce investment and make the countrys resourcesector less competitive. Allocations to WesternAustralia accounted for more than hal f the countrys2012 nonferrous exploration total, while SouthAustralia edged Queensland for second place. Gold and base metals accounted for the bulk of Australias 2012 exploration budget total, with allocations for all other commodities trailing by widemargins.

Gold and copper exploration in the United States kept it in sixth place regionally, ahead of thePacific Islands. Nevada had the largest share (43%) of the countrys 2012 exploration total, and threestates Nevada, Arizona, and Alaskatogether accounted for about 70% of the total. Gold continuedto attract more than half (54%) of all spending in the United States, followed by basemetals with 31%.

Among the Pacific Islands,exploration allocations for Indonesia,Papua New Guinea, and thePhilippines accounted for the bulk of the regions 7% of the world total,with budgets split mainly betweengold (56%) and base metals (41%).The Pacific/Southeast Asia region

experienced the largest percentageincrease (35%) and the fourth-largestdollar increase ($353 million) of allregions in 2012, closing the gap between it and theUnited States. Despite high prospectivity, investorscontinued to be wary of the region; as a result, therehave been few new entrants into these countries in recent years.Juniors cope with challenging financing conditions

Since most junior companies do not generate revenue from producing mines and typically relyon equity financings to fund exploration, their spending capacity largely depends on market

conditions and investor interest. Market conditions have traditionally been determined by metalsprices and forecasts; however, they have recently been heavily influenced by global macroeconomics.Despite historically strong prices for gold, silver, and copper, junior explorers found it more difficultto raise money in 2012. Figure 2 shows the amount raised for precious and base metals explorationby junior companies covered by the CES. The 2012 total was down from 2011 and 2010, but overallmost juniors still raised enough to keep exploring during the year. February, March, and Octobertogether accounted for almost 50% of the 2012 total reflecting the ongoing volatility facing thesector. Most of the companies that have managed to secure funding for their 2013 programs holdmore advanced projects, as well as properties in highly prospective areas.

Exploration financing conditions remain uncertain in the near term. Even if we see a gradual

improvement in 2013, the Junior sector will likely spend with caution. Companies with active projectswill focus their spending and avoid wasteful cash burn, while some will be forced to cut budgets moredrastically until they are able to secure funding. Given that much of the financing chill is being caused

Map 1: Top Destinations for NonferrousExploration, 2012


16/26

by broader economic circumstances, financing conditions could conceivably improve rapidly whenmarkets eventually adjust to ongoing uncertainty .

A matria completa est disponvel no link: http://www.metalseconomics.com/media-center/world-exploration-trends-2013Fonte: Metals Economics GroupData: Janeiro/2013

PREFEITOS DEMINAS REAGEM INVESTIDA DORIO SOBRE ROYALTIES DOMINRIO

Possibilidade de parlamentares fluminenses e capixabas insistirem naredistribuio dos royalties da minerao leva prefeitos de Minas a Braslia para

pressionar pela MP do setor

A ameaa de deputados do Rio de Janeiro e do Esprito Santo de dar o troco no restante dopas, brigando por uma diviso igualitria dos royalties do minrio entre todos os estados, causoureao imediata dos prefeitos de cidades mineradoras de Minas Gerais. Reunidos nesta tera-feiraem Braslia para audincia com a ministra da Casa Civil, Gleise Hoffman, sobre o marco regulatrio dosetor, eles no escondem a preocupao, e o prefeito de Catas Altas, na Regio Central do estado,Saulo Morais (PT), quem d o grito: A questo do minrio totalmente diferente da do petrleo.Presidente da Associao Brasileira de Municpios Mineradores (Amib), ele defende que o governo

edite uma medida provisria sobre o assunto, para que a alquota maior entre imediatamente emvigor e para que haja tempo de apaziguar os nimos exaltados de parlamentares fluminenses ecapixabas. Nossa expectativa de que consigamos sensibilizar o Planalto para aprovar o projeto oquanto antes, afirma.

Irados com a derrota no Congresso sobre a questo dos royalties do petrleo, deputados deestados produtores querem meter a colher no dinheiro proveniente da Compensao Financeira pelaExplorao de Recursos Minerais (Cfem), que no ano passado somou R$ 1,83 bilho no pas. Dessemontante, R$ 974,4 milhes foram arrecadados por Minas Gerais, sendo que R$ 633,4 milhesficaram com os municpios mineradores do estado. O petrleo arrecada muito mais. A alquota dopetrleo 10% do valor bruto e a do minrio 2% do lquido. Estamos propondo aumentar esse

percentual para 4%, explica Saulo. Em 2012, os royalties do petrleo somaram R$ 31,5 bilhes, 17,5vezes a mais. O que tem para dividir muito pouco. Se dividirmos os royalties do minrio para 5 milmunicpios, tem municpio que vai receber mil reais.

O impacto da minerao maior. Ele deixa um buraco no solo, tem um passivo ambientalgrande. J o petrleo que se extrai no mar diferente. Se houver algum problema, como umvazamento, ele vai ter que ser dividido com toda a nao, quem paga o pas inteiro, lembraFabinho. Saulo tambm destaca a diferena, mas diz no acreditar que as bancadas fluminense ecapixaba estejam preocupadas com ela. Com certeza Esprito Santo e Rio vo tentar endossar essamudana depois da derrubada do veto da Dilma. Temos que nos adiantar, acrescenta. Coordenadorda bancada federal mineira, Fabinho minimiza a preocupao dos prefeitos e diz que no acredita

que a inteno seja levada a cabo pelas bancadas do Rio e do Esprito Santo. uma retaliao. E SoPaulo (estado que tambm produtor de petrleo) no deve apoiar isso, diz. Alm da reunio naCasa Civil hoje, em que h expectativa de que o governo anuncie o projeto de marco regulatrio,


17/26

prefeitos mineradores vo se reunir com os ministros do Supremo Tribunal Federal (STF) para discutira distribuio de recursos provenientes da Vale pelo Departamento Nacional de Produo Mineral(DNPM).Sem ceder

O presidente do Supremo Tribunal Federal (STF), Joaquim Barbosa, afirmou ontem que osministros no cedero a presses em relao ao questionamento da nova Lei dos Royalties. Aoderrubar o veto da presidente Dilma Rousseff nova diviso dos recursos arrecadados com aexplorao do petrleo, o Congresso provocou reao do Rio de Janeiro e do Esprito Santo, querecebem quase a totalidade das receitas. Com a derrubada do veto, o governador do Rio, SrgioCabral, suspendeu os pagamentos do estado at que o STF decida sobre o caso e anunciou queentrar com uma ao direta de inconstitucionalidade contra a redistribuio. Perguntado se amedida era uma forma de presso ao STF, Barbosa disse: "Ministros do Supremo so, por definio,pessoas preparadas, treinadas para resistir a presses. Presses no nos incomodam.

Fonte: Estado de MinasData: 12/03/2013

ANGLOAMERICAN APROVA PROJETO DE BENEFICIAMENTO DE NIBIO A PARTDE ROCHA FRESCA

A Unidade de Negcio Nibio e Fosfato da Anglo American acaba de anunciar a aprovao doProjeto Rocha Fresca, para permitir o beneficiamento de minrio no oxidado contido na rocha, desua mina de nibio Boa Vista, localizada no municpio de Catalo (GO). A planta localizada emOuvidor (GO), que atualmente processa o material oxidado extrado na mina, ser adaptada pararetornar produo de 6.500 toneladas/ano de nibio.

O CAPEX total do projeto ser de aproximadamente US$ 325 milhes, e a expectativa tambm otimizar a extrao mineral, prolongando a vida til atual da mina. Entre os vrios impactospositivos para a regio, a Unidade de Negcio estima a criao de at 800 empregos durante asetapas de implementao e comissionamento do projeto. A empresa continua potencializandooportunidades de desenvolvimento social da regio atravs de seu Plano de Gesto Scio Econmico.

Recentemente, foram investidos R$ 600 mil na construo de um novo trevo na estrada que leva Mina Boa Vista.O nibio um minrio encontrado em poucas regies do planeta e utilizado na fabricao de

aos especiais, com alta resistncia. Sua aplicao variada, garantindo alta performance em setorescomo construo, automotivo, leo e gs, naval, aos inoxidveis e placas de alta presso, entreoutros.

Fonte: De FatoData: 11/03/2013


18/26

CARPATHIAN QUER INICIAR PRODUO NOBRASIL ESTE ANO

A Carpathian Gold espera iniciar a produo de ouro na mina na regio do municpio deRiacho dos Machados (MG) ainda em 2013. O incio da produo previsto para o segundo semestre.A Carpathian obteve licena de instalao em novembro de 2011, mas com 51 medidascondicionantes que a empresa tem de cumprir. As obras comearam em julho de 2012 e a Carpathianquestiona dez destas exigncias. A licena de operao deve ter mais condicionantes, o que preocupaos investidores da empresa (Brasil, Austrlia, Estados Unidos e Europa). O investimento no projeto de US$ 160 milhes, com expectativa de produzir 3,25 t/ano de ouro. Fernandez diz que a Carpathianest sendo visada pelos rgos competentes, ONGs, entidades de trabalhadores, por ter projeto maisavanado e visvel que outros.

Fonte: Brasil MineralData: 13/03/2013

120 PEDIDOS DE LAVRA ESPERAM AUTORIZAO DO GOVERNO

O Ibram calcula que o nmero de pedidos de outorga de lavras parados atualmente nogoverno j alcanou a casa dos 120. Para o diretor do instituto, Marcelo Tunes, a deciso desuspender a liberao das outorgas at que o novo marco regulatrio do setor seja aprovado vemlimitando o crescimento da minerao no Pas.

"Isso muito ruim porque so projetos que j esto, inclusive, com licenas ambientais",afirmou. O governo suspendeu a concesso das outorgas em meados de 2011. O governo tambmsuspendeu a liberao de outorgas de pesquisa.

Fonte: O LiberalData: 13/03/2013

GOVERNO DAARGENTINA AMEAA RETIRAR CONCESSO DAVALE

O governo argentino ameaou nesta quarta-feira revogar a concesso da Vale no projeto depotssio Rio Colorado, aps a paralisao do empreendimento anunciada pela mineradora brasileiranesta semana.

Para o governo da Argentina, ao suspender o projeto orado em cerca de 6 bilhes de dlares,a mineradora brasileira feriu as regras do pas.


19/26

"A empresa violou a segurana jurdica e as leis da Argentina e de Mendoza, em particular,que outorgou a permisso de concesso. E se no a explorarem, vo perd-la", disse o ministro dePlanejamento, Julio de Vido, em discurso na Casa Rosada, sede do governo argentino.

Cerca de 6 mil empregados sero demitidos com a suspenso do projeto. No mesmo eventona Casa Rosada, o governador da provncia de Mendoza, Francisco Perez, disse que at esta quarta-feira a Vale no havia notificado o governo sobre futuro de Rio Colorado.

Ele tambm citou a presidente do pas, Cristina Kirchner, dizendo que o projeto ser levadoadiante "com ou sem a Vale".

A mineradora, alis, busca vender o ativo e recuperar os 2,2 bilhes de dlares investidos noempreendimento de potssio, disse nesta quarta-feira Reuters uma fonte com conhecimento diretodo assunto. Procurada, a Vale no comentou a informao.

O movimento da Vale ocorre em um pas com histrico de expropriar empresas que, segundoo governo, no estariam produzindo o suficiente.

A nacionalizao em 2012 de 51 por cento da YPF, parte detida pela petrolfera espanholaRepsol, foi o caso mais notrio de como o Estado argentino pode jogar duro com empresasestrangeiras.

Antes, o pas j havia nacionalizado a linha area Aerolineas Argentinas e outras empresas deservios pblicos.Projeto Parado

A segunda maior mineradora do mundo disse ter completado 45 por cento do projeto de RioColorado, que inclui, alm da mina, 800 quilmetros de ferrovia e um terminal no porto de BahaBlanca, ao sul de Buenos Aires.

Em dezembro, pouco antes de colocar os funcionrios na Argentina em licena remunerada esuspender as obras, a Vale disse que estava buscando um parceiro para comprar parte do projeto eajudar a suportar os custos, num momento em que a mineradora tenta concentrar investimentos noseu negcio principal, de minrio de ferro.

A busca por um comprador pela Vale, no entanto, ocorre em um momento de fragilidade dos

preos das commodities minerais, com as principais empresas do setor passando por apertofinanceiro, registrando queda nos lucros e trocando executivos.

Em nota na segunda-feira, a Vale disse que no abandonaria as jazidas de potssio naArgentina e continuaria zelando por seus direitos de explorao na regio.Os ativos de potssio na Argentina foram comprados da Rio Tinto em 2009.Repercusso

O diretor de Assuntos Minerrios do Instituto Brasileiro de Minerao (Ibram), Marcelo Tunes,afirmou que a deciso da Vale de congelar ou sair definitivamente de Rio Colorado pode ter impactopara o Brasil.

Mesmo sendo extrado na Argentina, o insumo estaria nas mos de uma companhia brasileira,

o que aliviaria o pas na busca por fontes de fertilizantes, disse ele durante evento de minerao noRio.O Brasil importa cerca de 90 por cento das suas necessidades de potssio e o aumento da

produo agrcola poderia potencializar o dficit nos prximos anos.O representante das mineradoras disse que o governo deveria incentivar as empresas a

desenvolver jazidas de potssio e fosfato. Como exemplo, citou reservas de potssio na Amaznia,que poderiam ser desenvolvidas se houvesse incentivo, segundo ele.

A Vale j desenvolve o projeto Carnalitas, no Sergipe, mas para uma produo bem menorque a prevista para Rio Colorado, de cerca de 4,3 milhes de toneladas por ano.

Fonte: Reuters BrasilData: 13/03/2013


20/26

VOTORANTIM ESTUDA PROJETO PARA EXPLORAO MINERAL EMARIPUAN

O prefeito do Municpio de Aripuan, Ednilson Luiz Faita (PMDB), se reuniu com o diretor deExplorao Mineral do Grupo Votorantim, Jones Belther, em 1 de maro na Praa Ramos em SoPaulo-SP.

Durante o encontro, ambos debateram os planos de Aripuan, inclusos no projeto deexplorao mineral da Votorantim que encontra-se em estudo de pr-viabilidade.

O projeto contempla a produo anual de 1.2 milhes de toneladas de minrio, 55 miltoneladas de zinco, 20 mil toneladas de chumbo e 6 mil toneladas de cobre.

A previso do incio das operaes no municpio de Aripuan janeiro de 2016, conformeinformou o diretor, Jones Belther.

Fonte: Associao Mato-Grossense dos municpiosData: 07/03/2013

PEQUENAS MINERADORAS GANHAM ESPAO NOPAR

De acordo com clculos do governo local, investidores estrangeiros, principalmentecanadenses, esto aportando em torno de US$ 100 milhes em terras paraenses apenas para a fasede sondagem.

Os minrios mais visados so ouro, nquel e cobre O Par destino de volumosos montantesde investimentos de grandes mineradoras como Vale e Anglo American.No entanto, as pequenas empresas do ramo, as chamadas junior companies, tambm esto de olhonesse filo e tm investido para explorar jazidas que no interessam s mineradoras maiores.

"As minas menores e menos lucrativas tm sido alvo de juniores provenientes principalmentedo Canad e da Austrlia. Estas companhias descobriram no Par pequenos depsitos que no sointeressantes para grandes companhias", afirma David Leal, secretrio de Estado de Indstria,Comrcio e Minerao (Seicom) do Par.

Segundo Juarez Fontana especialista em minerao e professor do Centro Universitrio MonteSerrat (Unimonte), esse tipo de empresa mais dinmica e tem como objetivo principal a prospecomineral. So mineradoras muito mais rpidas e que podem lucrar at 20 vezes a mais que seuinvestimento", afirma.


21/26

De acordo com o Instituto Brasileiro de Minerao (Ibram), os aportes previstos para aminerao brasileira de 2012 a 2016 so de US$ 75 bilhes, dos quais US$ 28 bilhes devem serdirecionados somente regio da Amaznia para implantao e expanso de projetos minerais.

Alm desse volume de investimentos, empresas canadenses e australianas enxergam no Parum enorme potencial para a atuao das juniores.

Fonte: IBRAMData: 14/03/2013

VANTAGEM TRIBUTRIA PARA QUEM AGREGAR VALOR A MINRIO

A pedido da presidente Dilma Rousseff, o novo marco regulatrio de minerao pretendeestimular o aumento da exportao de produtos transformados ou beneficiados, j que o modeloatual incentiva a exportao da matria-prima mineral. A Lei Kandir, por exemplo, isenta produtoresdo pagamento do Imposto sobre Circulao de Mercadorias e Servios (ICMS) na exportao decommodities, como o minrio de ferro.

"H um estmulo para verticalizar a produo, estimulando, por exemplo, que se transformeminrio de ferro em ao dentro do pas", disse uma fonte do Palcio do Planalto, na condio deanonimato. O minrio de ferro o principal item da pauta de exportao brasileira, respondendo noano passado por 12,7 por cento do total exportado pelo pas.

O governo deve tambm eliminar algumas distores que punem justamente quem agregavalor ao minrio, segundo outra fonte ouvida pela Reuters.

Um estudo realizado por tcnicos do Ministrio de Minas e Energia mostra que asmineradoras que hoje agregam valor a seus produtos acabam sendo penalizadas ao pagarem maisroyalties, a chamada Compensao Financeira pela Explorao de Recursos Minerais (CFEM).

Na cadeia do ferro, por exemplo, a pelota e o minrio so tributados com a mesma alquotada CFEM, mas como a pelota tem um valor mais alto, acaba pagando mais royalty.

"Ainda no h deciso final sobre compensaes ou vantagens para quem agregar valor aoproduto, mas uma das ideias da presidente", disse Reuters a ministra-chefe da Casa Civil, GleisiHoffmann.

Alm de incentivar produtos de maior valor agregado, o governo tambm est discutindomudanas nos royalties da minerao.

O acordado at o momento que a alquota, hoje em 2 por cento sobre o faturamentolquido, subir para 4 por cento e incidir sobre o faturamento bruto das mineradoras, segundoinformaram as fontes. O percentual foi sugerido pelo Estado de Minas Gerais, um dos maioresprodutores de minrio do pas.Complexidade

Segundo a ministra, um grupo de trabalho do governo se comprometeu com a presidente a

concluir as negociaes sobre o marco regulatrio do setor em maro, e est finalizando as conversascom governadores e empresrios.


22/26

De acordo com a fonte do Planalto, entretanto, o texto do novo marco deve levar cerca dedois meses para ser redigido, por causa da complexidade do tema. Neste caso, o projeto no chegariaao Congresso antes de maio.

" um tema que tem prioridade na agenda do governo neste ano", disse a fonte do Planalto,afirmando que o governo se esforar para aprov-lo ainda em 2013.

Com o novo marco da minerao, o governo busca modernizar o cdigo atual, que dadcada de 1960.

Outro ponto importante do novo marco, segundo as fontes, a criao de leiles para reasestratgicas, como as de explorao de minrio de ferro, pedras e metais preciosos, nibio, potssio,terras raras, chumbo e cobre. Produtos para a construo civil, como brita, areia, gua mineral ecascalho, no sero disponibilizados por meio de licitaes.

Na mesma linha da verticalizao do setor de minerao, outra ideia do marco regulatrio criar mecanismos de atrao de fornecedores e metas de contedo local para substituir importaese gerar emprego e renda, tal como ocorre no setor de petrleo.

Por meio de leiles de reas estratgicas, o governo estabelecer regras de aquisio decontedo local para a explorao mineral, disse uma segunda fonte, que participou da elaborao daproposta.Cautela

A determinao da presidente que se discuta as novas regras com todos os setoresenvolvidos, entre eles os governadores dos principais Estados produtores.

O Planalto redobrou a cautela para evitar problemas como o que ocorre com o texto daMedida Provisria 595, que trata das novas regras para o setor porturio --e que sofre granderesistncia de alguns sindicatos.

Nos ltimos dias, foram ouvidos os principais Estados produtores, como Minas Gerais, Par eBahia, mas outros governadores tambm devem ser recebidos no Planalto.

O Estado do Par, segundo as fontes, tem sido o mais radical em pedir um percentual maiorde royalties.

Fonte: Instituto Brasileiro de Planejamento TributrioData: 04/03/2013

INVESTIMENTOS Junior companies tm forte desvalorizao

A dificuldade para obteno de recursos para financiar seus programas de explorao estafetando fortemente o desempenho das chamadas junior companies que atuam na mineraolistadas em bolsa. De acordo com levantamento feito por Jeanny So, diretora de Operaes da CHFInvestor Relations, uma das mais tradicionais companhias canadenses de assessoramento deempresas de capital aberto, pelo menos 50% das empresas listadas na TSXV (Toronto Stock ExchangeVenture) esto com suas aes abaixo de dez centavos de dlar canadense (metade destas esto a

cinco centavos), 70% tm suas aes valorizadas em menos de 20 centavos de dlar e 80% abaixo de30 centavos.


23/26

Menos de 20% das companhias esto com aes valendo mais de 30 centavos e somente 7%tm aes com valor acima de 1 dlar. Diante dessa situao, a especialista acredita que muitas das2.242 empresas listadas na TSX/TSXV podero ter que encerrar atividades ou descontinuar seusprogramas de explorao. Outras sero alvo de aquisio (reverse takeover) por parte das majors ougrupos de investimento que podem ver nos baixos preos das aes uma boa oportunidade deganhos expressivos caso essas empresas venham a se valorizar.

Fonte: Brasil Mineral OnLineData: 06/03/2013

WHEN GOOD ISN T GOOD ENOUGH Commodity prices that keep climbing have an obvious upside. But boom timesalso present their own set of risks in mining and other extractive sectors

Smaller, undercapitalized exploration firms will always struggle. But when you have strongcommodity prices in most extraction industry sectors and typically solid balance sheets the norm inrecent years you dont see many mid-size or larger producers viability at risk. At times like these,the more likely source of failure is comparative underperformance on a spectrum of enterprise risksand resultant destruction of shareholder value.

Virtually without exception, companies list the unpredictability and volatility of mineral, oiland gas prices as primary risks in public filings. In industries where such commodities are inputs, theprudent way to manage commodity-pricing risk is to hedge a substantial portion of the value of thefuture requirements. Counter-intuitively, in the extraction industry where such commodities areprimary outputs, hedging is uncommon. Investors in these sectors prefer businesses to be exposed tocommodity price volatility so they can capitalize on opportunities when prices and enterprise returnsincrease. Investors are less interested in certainty of returns that could be achieved by hedging,preferring the exposure to the one factor that can cause the greatest upside. From there, theytypically reward or punish companies based upon how well they perform and manage the followingrisks in parallel.Reserve replacement: This is the lifeblood of the extraction industry. Failure to replenish reserves tooffset depletion poses a major risk. Reserve replacement can only be achieved in two ways: discoverythrough exploration and development, or by acquisition. Both alternatives involve significant risk. Inrecent years, higher commodity prices have enabled the funding of increased exploration activitiesand lowered the economic threshold for development. However, discovery of large, economicallyviable mineral deposits has not been prevalent. Acquisition risk is also high in this sector due to highvaluations, commodity price uncertainty, operational cost escalation and other factors.Market pressure: The rising number, and popularity, of exchange-traded funds (ETFs) forcommoditieswhich offer investors low-cost, tax-efficient liquid investments that provide anarbitrage opportunity against changes in the underlying value of the commodity as an alternative todirect investment in companies has upped the pressure on those companies to create shareholdervalue through higher growth, increased earnings and operating cash flow as well as expansion of reserves.Geopolitical exposure: With the maturing of the extraction industry and extensive global explorationalready undertaken, companies are compelled to pursue opportunities in underdeveloped countries


24/26

where geopolitical risks are high. These include: civil unrest; corruption; higher taxes on royalties,operations and income; lengthy project permitting processes; non-government organizationinvolvement; increased power charges and regulatory changes.Falling prices:Rising commodity prices also add direct risk to the viability of mining and energyprojects.With the expectation of a continuing strong commodity demand cycle, industry participantshave increased their underlying commodity price assumptions thereby undertaking new projects orexpanding existing projects that were previously uneconomic. Typically such projects involve longtime horizons and often billions in capital investment. This holds risk of stranded investments andvalue write-downs should the outlook for long-term commodity prices fall.Rising costs: This sector has faced continuing and rapidly rising operating and capital equipmentcosts. Power and fuel costs have been impacted by world pricing and government policy over whichproducers have virtually no control. Labour costs continue to rise, because of skilled labour shortagesand increased worker leverage. The risk is that operating and capital costs will squeeze margins,profitability and operating cash flow.Environmental and sustainability risks: These are areas of perpetual exposure, but just as withgeopolitical riskwhich prompts more companies to push operations into increasingly unstableareasover-extension boosts risk exposure on the environment, too. Pressure to speed up or expandprojects can lead to errors and riskier on-the-ground activity, for example.

Fonte: ListedData: 25/02/2013

COPPER It is clear that the Peoples Republic of China (PRC) is focused on targeting a lower and more sustainable GDP growth rate of ~ 7.5%, which is well below recent levels but on an absolute basis, still better than the 10% plus growth experienced 5 years ago as a result of a lower baseline.

A key driver behind this policy shift is to head off inflationary pressures, particularly food andhousing prices, which are politically sensitive in beijing. The other key driver is to help support the

governments goal of transitioning chinas economy from an export-driven economy to one moredependent on domestic consumption. in order to help facilitate this, China needs to create a broad-based middle-class and focus on building sustainable internal wealth. This process is not an easy feat,as it can be easily derailed by inflation and speculative asset bubbles, which the government believescan be avoided by curbing the rate of economic growth.In just the past decade, china has emerged as the economic powerhouse; consequently, it hasdominated the commodity square. Figure 1 illustrates chinas voracious appetite for a wide range of commodities, of which it has ~40% market share which is also representative of their share of globalcopper consumption. in 2000, this share was ~10%. Never before has one geographic area been sodemand side dominant.


25/26

DemandWith this shift to a more consumer oriented economy, chinas copper demand growth is

expected to slow but not on an absolute bas is given it is the worlds largest consumer and its globalmarket share is expected to continue to rise. One of the key drivers is its plan to increase investmentin its power sector by ~90% over the next 5 years, mainly as a result of smart grid technology, whichrequires more copper than regular building systems. Besides china, other emerging economies willalso be growing quickly. In addition, the U.S. which currently represents 10% of the global market, isstarting to show signs of sustainable growth which will translate into improved domesticconsumption in the auto and housing markets.Supply

Continued tight supply fundamentals in the copper market will remain a persistent theme,with little change anticipated until at least mid 2013. In our opinion, copper production growth hasslowed since the beginning of last year, with labor disputes and mine degradation remainingcontributing factors to supply-side tightness. Delays such as bHPs olympic Dam expansion and

antofagastas chilean antucoya copper project are recent examples.Furthermore, it is expected that some previously planned copper projects will be shelved or

abandoned due to the weakened global growth outlook. However, production closures are onlyexpected to occur at the higher marginal cost mines as copper is trading well above the marginal costcurve due to its tighter fundamentals. The 90th percentile is considering a good proxy for the long-term copper price which we currently have pegged at $2.75/lb.

While the market remains clearly focused on the demand side of the equation, analystsgenerally provide equal weight to, and are generally more attuned to, the supply side of theequation. The reason we have not seen inventories rise dramatically during the past few years hasbeen because of a muted supply response from the industry despite its best efforts to use its

gushing cash flow to expand production. While there are a number of factors that can be cited, themore critical ones are: Trends in current production have not been particularly encouraging. The quality of projects in the pipeline is not stellar. The industry continues to face rapidly escalating capital and operating costs. Continuing start-up issues at greenfield projects. Industry consolidation has significantly reduced investors options. Chronic skills shortage. Resource nationalism on the rise.

Longer term, new supply from greenfield projects will be harder to realize given declining

resource grades (Figure 2) and an increasing proportion of potential new supply located in highergeo-political riskier areas, such as Africa, Mongolia and Peru. These more challenging environmentstend to lack infrastructure, leading to increased capital costs. Copper mining has become an


26/26

especially capital intensive sector the average capital intensity for Greenfield copper in 2008 was$11,000/t and is now double this number for many projects! Furthermore, junior mining companiesare experiencing greater difficulty in securing project funding both from the equity and debt markets.

Outlook

With a more subdued macroeconomic backdrop, we foresee the copper market moving into amore balanced market scenario in 2013 as new supply comes on stream, but the market is stillfundamentally tight with terminal market stocks at ~1.5 weeks of consumption and chinese bondedwarehouse stocks pegged at ~2.6 weeks of consumption for a total of ~4 weeks of consumption.Typically, 5 weeks is considered to be the pinch point in terms of oversupply/undersupply.

The low availability of copper along the supply chain, especially outside of China, leavescopper best positioned in the base metals complex to benefit from a rebound in demand. Physicallybacked copper eTFs, are back on the radar screen and is the wildcard in the equation should theygain critical mass. Given the positive economic momentum as we head into 2013 and the continuedsupply side challenges we remain bullish and are forecasting an average copper price of $4.00/lb for

2013 and given the myriad of supply challenges the industry faces we maintain our long-term priceassumption of $2.75/lb.

Fonte: Global Mining FinanceData: 2013

clipping adimb 18mar 2013

Documents