October 201720

he 2017 Arab International TAluminium Conference (ARABAL 2017), has revealed the full programme for the upcoming industry event. Set to take place in Muscat, Oman from November 6th – 9th 2017, it will feature a workshop with Rio Tinto, a two day conference featuring over 60 international experts, an exhibition with key investors, major international suppliers and manufacturers and a private site tour of this year’s host, Sohar Aluminium’s smelter and its facilities.

The 21st edition of ARABAL will be held under this year’s theme of ‘Driving Strategic Growth across the Global Aluminium Industry’ and promises to address a cross-section of global and regional issues including future supply and demand, market pricing forecasts, warehousing, technology, automation,

Arabal 2017 promises to put the

Middle East’s Aluminium Industry in the spotlight

renewable energy and waste management. This year’s event will be held at the world-class Shangri-la Barr Al Jissah Resort and Spa in Muscat and will attract over 500 delegates from over 30 countries and will offer various cultural activities and networking opportunities alongside the conference. With the Middle East accounting for approximately 10% of global aluminium production in 2016, ARABAL will highlight the importance of this region to the global industry and is shaping up to be an unmissable event.

n recent news, Peru unveiled its IMichiquillay copper project, valued at $2 billion. The huge buzz caused by the project has reached the point where it has already attracted its first bidder, Buenaventura.

The bidding company produced a whopping 127,000 tonnes of the precious metal last year, and now it shows its future aspirations to develop an infrastructure for the metal’s mining in Michiquillay.

Peru plans to maximize its raw copper output to three million tonnes by 2021, the nation has become China’s number one supplier for the precious metal.

The mammoth-sized project is in line with the role the Peruvian nation has taken

Peru becomes leading copper mining country

on lately, earning the top spot as supplier for China, the Asian powerhouse. The spot previously was occupied by Chile. This year’s reports show that Peru provided China with 3.22 million tons of copper concentrates, while Chile only at 2.72 million. One of the factors credited to tipping the balance is the 44-day-long strike in Chile that paralyzed their mining efforts.

According to sources, Roque Benavides, president of Confederation of Private Business Associations (Confiep) reported that “All these aspects help Peru benefit from any rise in metal prices [outside the country] since no benefit can be obtained without efficiency.”

Not only did Peru double its output of copper this year, but also managed to cover logistics costs through its grand-scale exporting efforts.

Former Minister of Development and Social Inclusion of Peru, Cayetana Aljovín, reported that the government is looking to invest over $28 billion to help boost the copper industry in the nation.

ierra Metals (TSX:SMT, SNYSEMKT:SMTS) announced that it has signed a memorandum of understanding (MOU) to cooperate with Jinchuan Group Co. Ltd. on the development of Jinchuan’s Mexico-based Bahuerachi copper project.

As quoted in the press release:

Jinchuan acquired the Bahuerachi copper porphyry deposit in connection with its acquisition of Tyler Resources Inc. in 2008 and has conducted multiple geologic and engineering studies with an aim to developing a large scale open pit copper mine. The Bahuerachi project concessions are adjacent to Sierra Metals’ Bolivar copper mine concessions. The Bolivar mine started commercial production in 2012 and has successfully expanded its copper production levels over the past five years and more recently conducted a more aggressive exploration program with the objective to increase its resource tonnage and copper ore grades.

The MOU has the objective of accelerating the cooperation between Jinchuan and Sierra Metals at the Bahuerachi mining concessions in a manner that is value enhancing and mutually beneficial to both companies and capitalizes on Sierra Metals’ success in operating in Latin America and particularly in the Bahuerachi region. The MOU is a non-binding agreement that both parties will negotiate in good faith to evolve into a specific comprehensive cooperation agreement to govern their relationship.

Sierra Metals and Jinchuan

Group Sign MOU for

Bahuerachi Copper Project