New Energy Sources Buoy Extensive Mining Operations

FinancialBuzz.com News Commentary

NEW YORK, Nov. 17, 2021 /PRNewswire/ -- The mining of natural resources remains a lucrative and dynamic industry. According to data provided by Research and Markets, the global mining market is expected to grow from USD 1,641.67 Billion in 2020 to USD 2,427.85 Billion in 2025 while at a CAGR of 7%. One major reason for the anticipated growth in the mining industry has to do with energy. The use of renewable energy is helping mining companies reduce power costs and control emissions in the mines. As more solar and wind projects are built near mine sites, the cost of connecting to the power grid is also reduced. Site-appropriate renewable energy sources are reliable, consistent and economical. For instance, BHP and RioTinto have started using renewable energy sources in their mines. In addition, minerals such as nickel and cobalt are in high demand because they are being used in batteries designed to power electric vehicles. Hudbay Minerals Inc. (NYSE: HBM), Turquoise Hill Resources Ltd. (NYSE: TRQ), Silvercorp Metals Inc. (NYSE: SVM), NexGen Energy Ltd. (NYSE: NXE)

One major segment of the mining market is focused on non-ferrous metals, which includes aluminum, copper, lead, tin, nickel, titanium, and zinc. These metals are used across a wide range of industries, including rapidly growing and innovative tech sectors. For example, titanium is used in anodic spark deposition, a technology that has the potential for expanding titanium's suitability for automotive, biomechanical, marine, and industrial applications. Furthermore, according to research by Technavio, it is also used in the manufacturing of titanium exhausts. Another example is copper, which has widespread applications in different end-user segments and sectors including electrical and electronics, construction, transportation, and consumer durables. Additionally, copper's unique property to restrict bacterial growth on its surface makes it useful in air conditioning systems and in the healthcare sector.

TD Holdings, Inc. (NASDAQ: GLG) announced earlier this week breaking news regarding its financial results for the third quarter ended September 30, 2021.

Ms. Renmei Ouyang, the Chief Executive Officer of the Company, stated, "We are pleased to report our financial results for the third quarter of fiscal year 2021. Our revenue increased by 697% to $54.77 million for the third quarter of fiscal year 2021 as compared to the same quarter of last year. During the third quarter, we have entered into a new strategic alliance with Jinyibao International Technology Company Limited to step into the global gold spot trading market, which is expected to enrich our commodity trading platforms, expand the scale of the platforms, and open up a new profit growth point. We have also established a partnership with Guangzhou Wensheng Blockchain Technology Co., Ltd. to target the tremendous market potential of blockchain in the supply chain financing and digital cloud warehouse business. In addition, we have entered into strategic cooperation with Guangdong Enterprise Investment Promotion Association to develop our lightweight new materials business. Looking forward, we believe these moves will allow us to execute our lead strategy and effectively drive long-term growth."…

In the three months ended September 30, 2021

For the three months ended September 30, 2021, the Company sold non-ferrous metals to twelve customers at fixed prices, and earned revenues when the product ownership was transferred to its customers. The Company earned revenues of $52.73 million from sales of commodity products for the three months ended September 30, 2021, among which, $1.37 million generated from the related party, compared with $0.96 million from sales of commodity products for the three months ended September 30, 2020.

For the three months ended September 30, 2021, the Company earned commodity distribution commission fees of $2.04 million from twenty-two third-party customers and the Company earned commodity distribution commission fees of $1.15 million and $2.04 million from facilitating such sales transactions with three third party customers and three related party customers for the three months ended September 30, 2020.

Cost of revenue primarily consists of purchase costs of non-ferrous metal products. For the three months ended September 30, 2021, the Company purchased non-ferrous metal products of $51.36 million from eleven third party vendors and $1.43 million from one related party vendors, compared with $3.61 million from two related party vendors for the three months ended September 30, 2020…

Net income was $0.46 million for the three months ended September 30, 2021, compared with $0.55 million for the three months ended September 30, 2020.

In the nine months ended September 30, 2021

For the nine months ended September 30, 2021, the Company sold non-ferrous metals to three related party customers and twenty-one third party customers at fixed prices, and earned revenues when the product ownership was transferred to its customers. The Company earned revenues of $141.68 million from sales of commodity products for the nine months ended September 30, 2021, compared with $6.30 million for the nine months ended September 30, 2020.

For the nine months ended September 30, 2021, the Company earned commodity distribution commission fees of $2.52 million from third party vendors, compared with commission fees of $2.11 million from six third party customers and distribution service fees of $1.61 million from three related party customer for the nine months ended September 30, 2020…

Hudbay Minerals Inc. (NYSE: HBM) is a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; molybdenum concentrates; and zinc metals. Back in August the Company announced that gold production has commenced at the New Britannia mill in Snow Lake, Manitoba. Refurbishment activities at the gold mill were completed in June 2021, followed by commissioning and startup activities in July. The mill achieved first gold production on August 11, 2021, in line with the timelines assumed in recent company guidance and ahead of the original schedule to produce first gold before the end of 2021. "We are proud of the New Britannia project and operating teams for completing construction activities ahead of the original timelines and achieving a successful ramp up to first gold pour," said Peter Kukielski, Hudbay's President and Chief Executive Officer. "This is a major growth milestone for Hudbay and our Manitoba business as it marks the beginning of the transition of our Lalor mine to a primary gold operation."

Turquoise Hill Resources Ltd. (NYSE: TRQ) together with its subsidiaries, operates as a mining company. The company explores for copper, gold, and silver deposits. It develops and operates the Oyu Tolgoi copper-gold mine located in Southern Mongolia. Back in September, the company reported its financial results for the period ended September 30, 2021. All figures are in U.S. dollars unless otherwise stated. "Oyu Tolgoi produced solid operating results in the third quarter. Copper production of 41,935 tonnes was up 16% year-over-year and 14% relative to Q2'21. The mine also produced 130,799 ounces of gold in the quarter, an increase of 256% compared to the same quarter last year and 16% more than was produced in Q2'21. Revenue for the quarter was $622.8 million, an increase of 135.6% from Q3'20 revenue of $264.4 million.

Thanks to the hard work of the Oyu Tolgoi team, and despite the difficult environment created by COVID-19, we are on track to meet our production guidance for 2021. All technical undercut readiness activities to begin underground production have been completed and Oyu Tolgoi has been ready from a technical perspective to commence the undercut since July 2021." Stated Steve Thibeault, Interim Chief Executive Officer of Turquoise Hill Resources.

Silvercorp Metals Inc. (NYSE: SVM) announced on October 13th, that the Company, through a 100% subsidiary of Henan Found Mining Co. Ltd., Silvercorp's 77.5% subsidiary, has won an online open auction to acquire a 100% interest in the Kuanping silver-lead-zinc-gold project. The Kuanping Project is located in Shanzhou District, Sanmenxia City, Henan Province, approximately 33 kilometres north of the Company's Ying Mining District and 30 km west of the Zhonghe Project.  The Kuanping Project covers an area of 12.39 km2, being approximately 3 km wide (east-west) and 5 km long (north-south). The Project's exploration rights are currently in a reservation period in accordance with China's mining law, and the Company is in a position to apply for the mining permit. Once the mining permit is granted, then the environmental permit can be applied for.

NexGen Energy Ltd. (NYSE: NXE) announced on November 9th that the Company has awarded the engineering, procurement, and construction management ("EPCM") contract for the FEED stage of the Rook I Project to Hatch with work well underway.  Hatch is a global leader in project management and engineering with extensive experience delivering mining projects in Saskatchewan and across Canada.  Leigh Curyer, Chief Executive Officer, commented: "Advancing into the FEED stage of development is another exciting milestone for the Company, and we're pleased to welcome Hatch to NexGen's growing high performance team in advancing the Rook I project towards the start of construction.  Hatch's exemplary reputation in the global mining sector and deep understanding of value-driven project delivery aligns perfectly with NexGen's commitment to elite standards and is a key step in the development of this leading global resource project. In parallel, the drafting of the Project's Environmental Impact Study and licensing workstreams nearing completion, together with regional exploration targeting new zones of potential "Arrow-type" mineralization, further exemplifies the NexGen team's commitment to the successful execution of multiple workstreams."

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