R/€ = 14.54 Change: 0.00
R/$ = 13.77 Change: -0.08
Au 1163.27 $/oz Change: -8.23
Pt 930.00 $/oz Change: -13.50

Asia News

Implats selling chrome interest

     Updated 5 hours ago Platinum mining company Impala Platinum (Implats) is disposing of its 65% interest in Impala Chrome, a chrome beneficiation operation that produces 200 000 t of chrome concentrate a year by processing four-million tonnes of tailings a year. As announced in a newspaper advertisement, Implats’... 

Sibanye to acquire US platinum miner for R30bn

By: Martin Creamer     Updated 5 hours ago Precious metals mining company Sibanye Gold has entered into a definitive agreement to acquire all of the outstanding common stock of Stillwater Mining Company of the US for R30-billion ($2.2-billion). The $18-a-share offer represents a premium of 23% to Stillwater’s prior day closing share... 

Sibanye to acquire US platinum miner for R30bn
Photo by Duane Daws
Sibanye CEO Neal Froneman

Rio’s CEO wants to buy diamonds, but finding them won’t be easy

By: Bloomberg     9th December 2016 Even for the deepest pockets in the mining industry, diamonds are hard to find. Rio Tinto Group CEO Jean-Sebastien Jacques said this week he’s on the hunt for new diamond mines, but with more than half of the industry controlled by just two companies and new discoveries rare, it’s going to be a... 

Rio’s CEO wants to buy diamonds, but finding them won’t be easy

Mozambique projects in sights of tax and regulatory authorities at home and abroad

By: Keith Campbell     9th December 2016 Mozambique’s Tax Authority is monitoring the natural resources sector to ensure it collects the capital gains taxes due to it. This was affirmed by Tax Authority President Amélia Nakhare late last month. She was addressing a promotion ceremony for tax officials, at Boane in Maputo province.  

Caterpillar will consider retaining jobs in US under Trump

By: Bloomberg     8th December 2016 Under a Donald Trump government, Caterpillar will consider keeping jobs in the US that may have otherwise been shifted abroad, CEO Doug Oberhelman said. Tax changes and other policies proposed by president-elect Trump would help generate more jobs and it’s “reasonable” to think the economy can... 

Glencore shares rise as Rosneft deal wins analyst thumbs-up

By: Martin Creamer     8th December 2016 The share price of diversified mining and marketing company Glencore rose in Johannesburg on the news that the company is in final-stage negotiations to buy 19.5% of Russia’s privatised oil company Rosneft for $11-billion together with the Qatar Investment Authority, which is Glencore’s largest... 

Glencore shares rise as Rosneft deal wins analyst thumbs-up
Photo by Reuters
Russia's president Vladimir Putin with Rosneft CEO Igor Sechin

Iron-ore export duty takes centre stage ahead of India’s national Budget

By: Ajoy K Das     8th December 2016 The iron-ore export duty has moved back to the centre stage in India, with iron-ore miners calling on government to announce a lower export tax when the national Budget is unveiled on February 1. In response to the federal Finance Ministry’s invitation for input from all sectors, iron-ore miners... 

Metro partners up in Myanmar

By: Esmarie Swanepoel     8th December 2016 ASX-listed Metro Mining has signed a farm-in agreement with PanAust over its Mahar San exploration project, in Myanmar. Under the agreement PanAust will have the exclusive option to explore the project for one year, in exchange for funding all operating costs, including an agreed drilling... 

Stars may align for giant Papua New Guinea copper mine

By: Reuters     8th December 2016 After nearly 50 years on the drawing board, the latest backers of Papua New Guinea's $3.6-billion Frieda River copper project say the time may finally be right for the giant mine - even if some hurdles remain. Regarded as one of world's largest untapped copper/gold resources, the deposit has sat... 

Lenders flag policy, infrastructure challenges to PNG mines

By: Reuters     8th December 2016 Planned changes to Papua New Guinea's mining laws are creating uncertainty ahead of an upcoming election, despite strong interest in proposed multibillion dollar mining and energy projects in the Pacific nation, lenders and advisers say. The quality of the copper, gold and gas resources in the... 

Platinum fuel cell passes competitive muster at Implats 

By: Martin Creamer     7th December 2016 Impala Platinum Refinery and its partners are in the last phase of financial close for the introduction of 8 MW of off-grid electricity from a platinum-catalysed fuel-cell system that will make use of natural gas from the Sasol grid. “We expect to get close and first flow of funds by March, with... 

Platinum fuel cell passes competitive muster at Implats
Impala Platinum Refining Services Fuel Cell Coordinator Fahmida Smith

Churchill Mining loses arbitration against Indonesia

By: Megan van Wyngaardt     7th December 2016 The International Centre for Settlement of Investment Disputes (ICSID) Tribunal on Wednesday granted Indonesia's application to dismiss Aim-listed Churchill Mining’s claims for damages arising out of the revocation of the mining licences that made up the East Kutai coal project (EKCP) in east... 

Millennials could boost global diamond sales

By: Megan van Wyngaardt     7th December 2016 While the global diamond industry may be poised for a modest rally in 2017, several key headwinds persist, including the need for secure access to financing within the midstream sector, slowing consumption in China and the ongoing threat of synthetics and counterfeit diamonds, according to a... 

Millennials could boost global diamond sales

The ‘weird’ commodity that’s hurting bears as prices double

By: Bloomberg     7th December 2016 Iron-ore’s probably heading for a retreat in 2017 as new mine supply comes online and a surplus builds, according to UBS Group, which acknowledged that the commodity’s recent surge was unexpected and had torpedoed an earlier forecast for a slump this quarter. “It’s just surprised me,” Wayne... 

The ‘weird’ commodity that’s hurting bears as prices double

Aveng wins Gamsberg zinc mining contract

By: Martin Creamer     6th December 2016 A contract to establish and mine the Gamsberg opencast zinc operation has been awarded to Aveng Moolmans by Black Mountain Mining, a Vedanta Zinc International operation. Vedanta acquired zinc assets including Gamsberg from Anglo American in 2010 for $1 338-million. 

Aveng wins Gamsberg zinc mining contract
Photo by Duane Daws
Vedanta Zinc International CEO Deshnee Naidoo

India’s coal export plans heading for the backburner

By: Ajoy K Das     6th December 2016 India’s nascent plans to export its way out of a domestic coal glut may be heading for the backburner. Domestic coal miners, primarily Coal India Limited (CIL), are failing to make much headway with plans to export their coal, with few buyers in neighbouring countries for the low-grade, high-ash... 

ICMM commits to new tailings dam measures

By: Esmarie Swanepoel     6th December 2016 The International Council on Mining and Metals (ICMM) has adopted a range of new measures to manage tailing dams, following the Samarco disaster in 2015, which claimed the lives of 19 people in Brazil. The ICMM in December last year launched a review of the global tailings management of its... 

ICMM commits to new tailings dam measures

SFO probes Israeli billionaire, ex-ENRC directors on Congo deals

By: Bloomberg     5th December 2016 The UK Serious Fraud Office (SFO) is investigating Israeli billionaire Dan Gertler and four former Eurasian Natural Resources Corporation (ENRC) executives as part of its three-year probe into the Kazakh company’s acquisition of copper and cobalt mining projects in the Democratic Republic of... 

Glencore producing zinc at minus cost 

By: Martin Creamer     5th December 2016 Diversified mining and marketing company Glencore is producing zinc at negative cost. Towards the end of this year it has been doing so at -3c/lb and next year it expects to do so at an even better -14c/lb, supported by healthy lead by-product credits. 

Glencore producing zinc at minus cost
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Indaba invaluable, time-efficient industry barometer – previous delegates

By: Nadine James     5th December 2016 Considered the preferred deal-making platform for mining in Africa, the Investing in African Mining Indaba – scheduled to run from February 6 to 9, in Cape Town – offers invaluable networking opportunities and informative discussions and presentations, contributing to the success of African... 

Indaba invaluable, time-efficient industry barometer – previous delegates
TIME IS MONEY The Mining Indaba is the most time-efficient way of gaining insight into African mining

Copper rally to fade, but gradual price uptrend to continue

By: Anine Kilian     5th December 2016 Research group BMI has increased its 2017 copper price forecast from $4 900/t to $5 150/t, as ongoing Chinese fiscal spending has bolstered the Asian nation’s demand growth outlook. BMI therefore expects copper prices to gradually improve over a multiyear horizon, as steady demand growth and... 

Copper rally to fade, but gradual price uptrend to continue

Final state approvals granted for A$22bn Carmichael coal mine

By: Esmarie Swanepoel     5th December 2016 The A$21.7-billion Carmichael coal and rail project, being developed by Indian major Adani, has secured its final state and federal government approvals, after the Queensland Coordinator-General approved an application for the project’s rail line into Abbot Point. The approval is for 31.5 km of... 

Final state approvals granted for A$22bn Carmichael coal mine

India’s weekend diplomatic push to salvage Farzad deal with Iran

By: Ajoy K Das     5th December 2016 India has launched a fresh diplomatic push to salvage a deal for Iran’s Farzad B oil and gas fields. At a weekend meeting between the Petroleum Ministers of the two countries, India leveraged its past relations with Iran to bargain for a new deadline to secure the award of the offshore Farzad B... 

KIOCL makes headway in securing iron-ore for its pellet plants

By: Ajoy K Das     5th December 2016 Indian iron-ore pellet producer KIOCL, formerly Kudremukh Iron Ore Company Limited, is poised to strike key deals in securing new iron-ore sources across the country. As a primarily iron-ore pellet producer without a captive iron-ore access source, new sources are key to its long-term survival... 

Turquoise Hill stops shipments from Mongolian mine to China

By: Reuters     2nd December 2016 Canadian copper miner Turquoise Hill Resources Ltd said on Friday it had suspended shipments from its Oyu Tolgoi mine in Mongolia across the Chinese border, a day after the imposition of new fees on commodity shipments between the two countries. The fee was imposed following a diplomatic row... 

Turquoise Hill stops shipments from Mongolian mine to China
Oyu Tolgoi mine, Mongolia

Glencore sees nickel shortage as electric vehicle demand burgeons

By: Martin Creamer     2nd December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising as a result of burgeoning demand from electric vehicle (EV) production. Batteries used in EVs are consuming about 100 000 t of nickel demand and if 10% of the world’s vehicle fleet transitions to electric power,... 

Glencore sees nickel shortage as electric vehicle demand burgeons
Glencore's Koniambo nickel project in New Caledonia, a French territory.

India's Coal Minister says no value in splitting Coal India

By: Reuters     2nd December 2016 India's Power and Coal Minister Piyush Goyal said there was no value in splitting up India's biggest coal producer Coal India. Reuters reported on Wednesday that according to a presentation by senior government officials, a proposal has been mooted to break up of the country's Coal India... 

Red Mountain opts out of the Philippines

By: Esmarie Swanepoel     2nd December 2016 ASX-listed Red Mountain Mining has struck a deal with its joint venture partner Bluebird Merchant Ventures over its 75% interest in the Batangas gold project, in the Philippines. Under the terms of the agreement, Bluebird will acquire Red Mountain’s share in the project in exchange for... 

China orders coal mines to conduct safety overhaul

By: Reuters     2nd December 2016 China has ordered all of the country's coal mines to conduct a safety overhaul in the past month, the official Xinhua news agency reported on Friday, citing the deputy director of the country's work safety watchdog. Mines should not be operating over capacity and miners should not be asked to... 

Nickel price forecast rises as market tightens into 2020

By: Henry Lazenby     2nd December 2016 The price of nickel is expected to continue its upward momentum over the next four years to 2020 as mine closures are expected to slow market growth, while ambitious US spending plans will potentially boost demand. Analysis by Fitch Group research arm BMI calls for a more bullish nickel price... 

Nickel price forecast rises as market tightens into 2020

Diligent Glencore delivers on debt promise, restarts dividend

By: Martin Creamer     1st December 2016 Diversified mining and marketing company Glencore has delivered on last year’s commitment to cut debt and structurally increase the strength of its balance sheet – and it has done so in a way that has preserved the group’s long-term earnings capability.  JP Morgan Cazenove analysts described the... 

Diligent Glencore delivers on debt promise, restarts dividend
Photo by Duane Daws
Ivan Glasenberg at last year's hand over by Glencore of a R75-million school in South Africa's coalfields to Basic Education Minister Angie Motshekga.

Gemfields postpones emerald auction for Indian customers to adjust to new reforms

By: Natasha Odendaal     1st December 2016 Aim-listed Gemfields has postponed its emerald auction until February to allow its India-based customers time to adjust to that country’s newly implemented demonetisation programme, which removes high denomination banknotes from circulation. The two-month delay in auctioning the predominantly... 

SAIL to double iron-ore production of its Bolani mine

By: Ajoy K Das     1st December 2016 Steel Authority of India Limited (SAIL), the country’s largest integrated steel producer, will double the production capacity of its Bolani iron-ore mine in the eastern Indian province of Odisha. The capacity of the mine will be ramped up to ten-million tons a year over the next four years from... 

Chinese demand, prices trigger ferrochrome green shoots in India

By: Ajoy K Das     1st December 2016 Green shoots are emerging in the ferrochrome industry in India, as a revival in demand from China and higher prices have spurred producers to bring idled capacity back into production. “Improved Chinese demand and price realisations have definitely had a salutary impact on Indian ferrochrome... 

Chinese demand, prices trigger ferrochrome green shoots in India

China slaps new fees on Mongolian exporters amid Dalai Lama row

By: Reuters     1st December 2016 A major border crossing between China and Mongolia has imposed new fees on commodity shipments between the two countries, amid a diplomatic row sparked by the visit to Ulaanbaatar of the Tibetan spiritual leader the Dalai Lama last week. The Dalai Lama is cherished as a spiritual leader in... 

Goa iron-ore mines slow to resume production

By: Ajoy K Das     30th November 2016 Optimism over getting more than 40 iron-ore mines in the western Indian province of Goa to resume operations is fast receding. Despite an announcement two months ago that 40 iron-ore mines will resume operations as monsoon rains were over, mines are slow in getting back into production. 

CITIC aims to cut costs at Sino Iron project, ramp up output

By: Reuters     30th November 2016 CITIC Pacific Mining's Sino Iron project in Western Australia is ramping up production and expects to export more than 10-million tonnes this year, its chairman said on Tuesday, adding the goal was to become the world's lowest cost producer. Chairman Zhang Jijing of CITIC Pacific Mining, a... 

Britain, Mongolia pledge to do more mining together

By: Reuters     30th November 2016 Britain and Mongolia signed their first memorandum of understanding in the mining sector on Tuesday, pledging an exchange of technology and expertise, and deepening ties based on Rio Tinto's huge copper mine in the South Gobi desert. The agreement, signed on the sidelines of a mining conference... 

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