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The four "carve up" 60% of the world's cobalt mines.
Amid soaring global new energy automobile consumption, the consumption in the past two years of cobalt geometric growth, cobalt belongs to small varieties, total amount is not large, illiquid, more concentrated, it is easy to be manipulated.
Currently 60% of the world production of cobalt in the four hands, respectively is glencore's current boss Ivan he, luoyang molybdenum Li Chaochun chairman, Eurasian resource chairman Alexander MACHKEVITCH, jinchuan group chairman of the board of directors for the former.
One, the cobalt surge
Based on the certainty of the global future electric vehicle, the cobalt resources on the market have been difficult to find. Since the beginning of the year, the price of cobalt has risen by up to 75%, according to China nonferrous metals network. As of October 30, the average price of the cobalt market in China was 446,333 yuan/ton, up 64.80% from the beginning of the year. Currently, the world has a total of 5 million tonnes of proven cobalt resources, with 65 per cent of them in Congo and 35 per cent in the rest of the world. Of the five million tonnes, glencore, the world's largest mining giant, has a cobalt reserve of 2.5m tonnes.
The second is luoyang molybdenum industry, which is a comprehensive large resource supplier for copper, molybdenum and cobalt, with a cobalt reserve of 560000 tons. The third place is jinchuan international, with a reserve of 450,000 tons (equity reserves of 370,000 tons).
The cobalt mine now produces about 100,000 tons of annual production, including 28,000 tons of glencore, 16,000 tons of molybdenum, 0.07 million tons of Eurasian resources, and 50% of the three.
Jinchuan international cobalt production after a year to have 10000 tons of production, this means that oligopoly production proportion may last up to about 60%, the future of the cobalt pricing power in all the four companies and their leaders.
01 glencore As the world's largest commodity producer and trading giant, glencore controls about 30 per cent of the global cobalt market and is the world's largest cobalt miner.
In 2016, the raw material of the communist cobalt was 28300 tons, accounting for 23% of the total cobalt production. For every $1 rise in cobalt prices, glencore has $55 million in revenue, analysts say. , of the Congo (gold) Mutanda copper and cobalt ore resources endowment is excellent, large reserves, high grade, is its biggest cobalt and in productivity rising, cobalt production 16500 tons in 2015, a quarter of 2016 output of 4900 tons, up 88% from a year earlier. Katanga copper and cobalt mine has more than 0.5% grade and good resource endowment condition. The cobalt output of two nickel-cobalt projects is stable.
Glencore's international entry mode has been transformed into merger and acquisition. In recent years, glencore has been able to achieve scale economy and scope economy through vertical and horizontal merger and acquisition investment, effectively realizing scale economy and scope economy and continuously consolidating industry leading position.
In 2013, glencore completed the acquisition of Xstrata, a mining giant whose name is glencore Xstrata, the world's largest supplier of cobalt raw materials. On February 13, 2017, glencore bought a 31 per cent stake in MUtanda Mining Sarl, owned by Fleurette group, and 10.25 per cent of Katanga Mining Limited owned by the group. That means glencore now has a100 per cent stake in mutanda anda stake of about 86.33 per cent in Katanga, which further increases its control over global cobalt resources.
Whether it is willing to increase production in the future will be an important factor in determining the supply of cobalt metal.
02 luoyang molybdenum
China's luoyang molybdenum is also one of the cobalt developers. In 2016, luoyang molybdenum paid us $2.65 billion for a 56 per cent stake in the Tenke Fungurume copper and cobalt mine in the democratic republic of Congo, with Tenke Fungurume mine.
The Tenke Fungurume mine is one of the world's largest and most mineral-tasting copper and cobalt mines, with a global market share of about 16 percent.
Relevant data show that Tenke has more than 28 million tons of copper and 3 million tons of resources of cobalt, 2016 Tenke cobalt metal mine production 14500 tons, has the world's largest, luoyang molybdenum also because cobalt price is soaring, ushered in the new market.
03 Eurasian resources Eurasian resource group is the world's leading diversified natural resources group, in addition to having junior Mountain copper and cobalt, holding Camrose has also include Kolwezi Tailings, Africo and Comide projects such as a few small and medium-sized copper and cobalt, at present, a lot of production capacity of about 6000 tons. In the new construction of the RTR project in Europe and Asia, the RTR project is a tailings project, with 1.6 million tons of copper and 360,000 tons of cobalt resources in tailings, 1.5 percent and 0.3 percent respectively in copper and cobalt.
If RTR construction well, can be successfully put into production at the end of 2018, according to media, RTR project will have an annual production capacity of 70000 tons of copper and 14000 tons of cobalt, will make amends for some small glencore ore production of cobalt gap.
04 jinchuan international Jinchuan international is a global supplier of copper and cobalt products and is a listed subsidiary of jinchuan group. Core assets in the Congo (gold) and Zambia, have high quality copper, cobalt 8 mines of four mining area, with reserves of 4.5 million tons of copper resources, cobalt metal reserves the rights reserves of 370000 tons, 450000 tons. From companies to disclose information discovery, the company now has an annual output of 80000 tons of 80000 tons of copper and cobalt production capacity, based on several mine technology reform new capacity production lines have been completed or are about to finish, is expected to begin in the second half of the company's production will start.
3. The gap between supply and demand is large, and the cobalt price will continue to be bullish The current demand for cobalt is still huge for global markets. The global supply and demand gap for cobalt is likely to be around 900 tonnes this year, according to CRU, a commodity consultancy. The world's 2020 new energy vehicles will have a demand for cobalt of 3.56 million tons for cobalt, a 10-fold increase from 2015, and the total cobalt demand will be around 150,000 tons.
In the past few years, cobalt's traditional supplier, glencore and Eurasian resources, have seen varying degrees of shutdowns and cutbacks. In addition, Congolese gold, which accounts for 50 per cent of the world's cobalt supply, has also shut down manual mines, resulting in a reduction of about 10,000 tonnes of cobalt, as well as mining conditions.
According to the analysis of essence securities, said the 2017-2018 global cobalt production picks up speed is limited, mainly existing main mining capacity release basic end, and the future of new mine production capacity is limited, and the current main cobalt enterprise "reluctant" phenomenon will exacerbate cobalt supply bottlenecks.
Glencore has the largest say in the supply of cobalt, but glencore's production guidance for 2017 shows no significant change in the yield of copper or nickel, and the cobalt production is expected to remain stable. It is expected that the global supply of cobalt metal will remain small, and the supply balance will be driven by demand growth, and the cobalt price will continue to rise.
Successful semiconductor diamond substrate is developed in China
Recently, the research project of the Beijing science and technology project "5mm x 5mm semiconductor diamond substrate", jointly undertaken by the institute of semiconductor research of the Chinese academy of sciences and the university of Chinese academy of sciences, passed the acceptance inspection.
Diamond is the ultra wide band gap semiconductor materials, with high carrier mobility and carrier breakdown field saturated drift rate large, powerful, high thermal conductivity, excellent properties. High frequency high power electronic device is developed, deep ultraviolet electronics, quantum spin devices such as high-performance devices ideal material. Internationally, Japan, Europe and the United States are leading internationally in the field of semiconductor diamond materials research.
Supported by Beijing municipal science and technology plan project, the team have high quality semiconductor material preparation of diamond single crystal MPCVD and RFCVD technology, developed the first domestic diamond electrical properties testing device, the preparation of single crystal diamond semiconductor material, the electron and hole mobility at room temperature, respectively, more than 4100 cm2 / V, s and the 3700 cm2 / V, s, and international reporting the highest numerical value is close to, to the best level in domestic at present. At the same time, through the implementation of the project, the research system including the growth equipment, growth process, test characterization equipment and test characterization methods of semiconductor diamond materials is established.
Next, the research group plans to carry out the research on the small test technology of semiconductor diamond single crystal substrate.
Electric trucks will boost demand for nickel and cobalt
Tesla plans to roll out all-electric drilling RIGS to refuel the battery metal. Financial institutions, including Goldman sachs, ubs and bank of America, have forecast a surge in demand for battery metals such as nickel in the next 10 years. If Mr Musk's electric truck is powered by a power battery instead of a diesel engine, the demand for battery metals will grow even more.
Cobalt 27 investment company (Cobalt 27 Capital) President and CEO Anthony m column uz base (Anthony Milewski) said that this is a technology revolution, also brought opportunities for Cobalt market, due to expect the electric car has good prospects for development, Cobalt prices have soared in the past year.
The price of another metal linked to the power battery has risen 15 per cent this year, although it is still standing above $11, 000 a tonne this month from $12920 a tonne.
Some of the worries, electric trucks and other metals such as palladium are not good news. According to abn amro, if sales of electric vehicles are climbing, palladium consumption, a catalyst for car exhaust, will fall by 90 per cent by 2040.
The challenge for tesla, however, is whether it can meet its production targets, and if large electric RIGS are successfully developed, the challenge will be greater.
Japanese tool interface technical analysis
As the worldwide financial crisis and to reduce CO2 emissions and put forward countermeasures, combined with the establishment of large-scale emerging economic circle, headed by Chinese manufacturing environment is facing a big change. Machine tool makers invest a lot of energy in technology development in order to achieve high added value, profit and efficiency. At the same time, how to save resources and reduce energy consumption has become an important subject. In order to obtain high added value, people have developed a five-axis machining center and a composite machining machine. In response to the call to reduce energy consumption, the miniaturization of machine tools, lightweight and relevant technical specifications have been formulated as international standards. In this paper, the HSK-T interface system and international standardization of the machine tool interface committee (ICTM) developed by the machine tool interface committee (ICTM) are described in this paper.
The importance of interfaces The interface refers to the connection between two devices with different performance. In the machine tool, the connection between the spindle and the cutter is vital. In Japan, the 7/24 taper interface, known as BT handle, has the same specification in Europe and America. Since the taper shank length of three kinds of interfaces and the flanges of ATC are different, they cannot be interchanged at installation time, and they have their own provisions in the international standard (iso7388-1 / -2). In recent years, the competition of mechanical processing industry has broken the limitation of national boundaries, the effective use of resources becomes indispensable, and the universalization of interface has become a very important subject. Used for interface development of composite machining machine tools
(1) ICTM-HSK tool system Since the late 1990 s, can simultaneously on a machine tool of milling and turning composite machining machine tool by the Japanese machine tool manufacturers as a standard model to the market, so far, this is no less in advanced machining center, CNC lathe machine tools have been known by the world. In order to keep up with the trend of the technology development, in January 2001, eight tool system manufacturers, nine cemented carbide cutting tools manufacturers jointly established the ICTM committee, its purpose is the development and application is suitable for the high quality of compound machine tool interface.
ICTM ensures the smooth development of new interfaces by ensuring that manufacturers worldwide are free to manufacture and sell open standard interface systems as a basic policy. In October 2002, ictm-hsk interface was officially launched. ICTM-HSK is A vehicle - cutting tool system, which is common to international standard HSK-A milling tools. It is indicated that it is possible to adopt universal tool interface in machining center and composite machining machine.
For HSK - A system, the ICTM - HSK tool system will compound machine tool drive spindle and turning tool clamping groove embedded part tolerance precision to the micron level, make the cutting tool point position precision is greatly increased. The maximum error measured value of the tool tip position obtained by ATC is only 10 mu m, which reaches very high precision. The main tool manufacturers adopt this system on the compound machine tool, the tool interface realizes the generalization and makes the selection scope of the manufacturer become broader.
(2) HSK-T system and international standardization After the ictm-hsk system was released, it cooperated with manufacturers and users in Japan and abroad. In late 2004, the merits of international standards proposed by Germany were considered. For this reason, set up the ISO (ICTM - HSK) domestic countermeasure committee, and take the HSK -t (T is short for rotation) in January 2005, to the name of the international organization for standardization (ISO) proposed the ICTM - the international standardization of HSK system proposal. The international standard was finalized only after six procedures and four international votes. There is no denying that Japan's standard proposal has been a bit sudden. In January 2005, the first international vote was narrowly approved, and in December the working group (ISO/TC29 / WG33) held a meeting in Frankfurt to consider the technical content. During the period, although the representative of Europe and the United States raised objections and other proposals, the proposal submitted by Japan was finally adopted as a draft standard due to the preparation of countermeasures. Both the 2nd and 3rd votes were successfully passed, and in November 2008, the HSK-T system was established as a standard.
In the process of international standards, national interests to each other, the ISO meeting, working group, the international vote as passive, is invited to participate in the Olympic game and beat Germany and China two tools manufacturer support also play a role.