R/€ = 14.50 Change: 0.00
R/$ = 11.74 Change: -0.01
Au 1347.33 $/oz Change: 7.59
Pt 949.50 $/oz Change: -5.25

Asia News

Trans-Siberian sets 2018 production guidance

By: Simone Liedtke     23rd March 2018 LSE-listed Trans-Siberian Gold (TSG) is targeting gold production of between 36 000 oz and 40 000 oz in 2018, with the upper end of the range representing a 9% year-on-year increase in total output. This follows a strong performance in 2017, when the Russia-focused miner exceeded its guidance,... 

Gold's 'good week' gets better as trade war ignites haven demand

By: Bloomberg     23rd March 2018 Gold’s getting a double boost this week as investors piled into the traditional haven as a long-awaited trade war finally erupted between the US and China, extending gains that came after the Federal Reserve’s policy outlook proved less hawkish than feared. Bullion for immediate delivery rallied... 

 Gold's 'good week' gets better as trade war ignites haven demand

Rio Tinto sees iron-ore market staying balanced through 2019 – exec

By: Reuters     23rd March 2018 Rio Tinto expects the global iron ore market to stay balanced through 2019 despite a likely moderation in steel demand growth in China, the world's biggest steel consumer, a senior executive said on Friday. "I think the iron-ore market is pretty well balanced...We don't see remarkable change in... 

Noble survival threatened as miner sues to end coal deal

By: Bloomberg     23rd March 2018 Noble Group’s week of woe just got a lot worse as the trader, which has defaulted and seen founder Richard Elman quit the board, was sued by an Indonesian coal miner for more than a quarter of a billion dollars in a case that may jeopardise some of its remaining business. In addition to the sum... 

Trump temporarily excludes EU, six other allies from steel tariffs

By: Reuters     23rd March 2018 US President Donald Trump has temporarily excluded six countries, including Canada and Mexico, and European Union states from higher US import duties on steel and aluminum meant to come into effect on Friday. In a Presidential proclamation published late on Thursday, Trump said he would suspend... 

BC govt unveils tax incentives to induce Kitimat LNG development

By: Henry Lazenby     22nd March 2018 The British Columbia minority government on Thursday unveiled several measures to entice natural gas development in Kitimat, where LNG Canada is working towards a development decision on a new C$40-billion terminal that will process and ship liquefied natural gas (LNG) to Asian markets.... 

BC govt unveils tax incentives to induce Kitimat LNG development

US LNG firms lament bad timing of steel tariffs and China trade spat

By: Reuters     22nd March 2018 The Trump administration's planned steel tariffs and a potential trade battle with China could hurt US liquefied natural gas companies just as a new wave of developments in the fast-growing market is gaining steam, company executives say. China is the fastest growing major buyer of LNG, making... 

US LNG firms lament bad timing of steel tariffs and China trade spat

BHP sees limited impact on steel market from US new tariffs

By: Reuters     22nd March 2018 Global miner BHP anticipates planned new US steel import tariffs will have a limited impact on both the steel market and the firm, and doesn't foresee a chain reaction from other countries, a senior official said on Thursday. "I think direct impact on steel is quite marginal because the United... 

Renewed focus on copper assets for Aim-listed Bezant

By: Mariaan Webb     22nd March 2018 Strong medium to long term fundamentals for copper market have prompted Aim-quoted Bezant Resources to shift its focus to its copper/gold exploration assets in the Philippines and Argentina, including the Mankayan project that contains 800 000 t of copper. “The copper price over the last 12... 

Cheaper iron-ore finding plenty of buyers in China, miner says

By: Bloomberg     22nd March 2018 Low-grade iron-ore that has fallen out of favour with many of China’s steelmakers is still in demand as mills keep buying the cheaper product, according to a junior Australian supplier. BCI Minerals is selling all it’s lower-grade product at normal rates, CEO Alwyn Vorster said Thursday in an... 

Only two Indian provinces ready for auction of expiring licences

By: Ajoy K Das     22nd March 2018 With barely 24 months left before 348 mining leases expire, only two Indian states have been able to submit reports to establish a semblance of readiness to conduct fresh auctions and continuation of operations of these mines without disruptions. The Mines, Minerals Development Amendment Act... 

Aspire halts drilling at Nuurstei, reviews rail feasibiity

By: Esmarie Swanepoel     22nd March 2018 Coal developer Aspire Mining has temporarily halted the drilling programme at its Nuurstei coking coal project, in Mongolia, as it holds additional discussions with the nearby communities. Aspire holds a mining lease for its Nuurstei coking coal project, which gives the company a 30-year tenure... 

Goa iron-ore mine closure triggers protests and violence

By: Ajoy K Das     22nd March 2018 The closure of iron-ore mines in Goa has triggered violence and widespread law and order problems at the start of the week as miners, families and workers from allied industries unleashed protests forcing the police to baton charge the crowd resulting in injuries and arrest of 11 protesters.... 

Rising synthetic diamond output lifts discount to natural stones

By: Henry Lazenby     22nd March 2018 An analysis from independent New York-based diamond analyst Paul Zimnisky has shown that prices for synthetic laboratory-created diamonds are falling at an accelerating pace. Lab-created diamonds have enjoyed a 71% year-on-year improvement of its discount to natural equivalents over the past 12... 

Rising synthetic diamond output lifts discount to natural stones

Global copper deficit widens 21% in 2017 as refined supplies stagnate

By: Henry Lazenby     21st March 2018 The latest data from the Lisbon, Portugal-based International Copper Study Group (ICSG) points to a 21% year-on-year widening in the global deficit of refined copper, as refined supplies remain stagnant. During 2017, the global refined copper balance slid to a deficit of 163 000 t of red metal,... 

Global copper deficit widens 21% in 2017 as refined supplies stagnate

Oyu Tolgoi completes sinking Shaft 5

By: Henry Lazenby     21st March 2018 Mongolia’s massive Oyu Tolgoi copper/gold mine has achieved its latest important milestone after sinking of the new Shaft 5 has been completed. The shaft has a final depth of 1 178 m. 

The lithium sector surge is poised to ignite a deals bonanza

By: Bloomberg     21st March 2018 The tripling in lithium prices over three years is poised to fuel a multi-billion dollar rush of deals as major players jostle for dominance to supply the metal needed for the electric vehicle battery revolution. China’s expected to lead a mergers and acquisition bonanza as companies seek to... 

The lithium sector surge is poised to ignite a deals bonanza

Rio makes plans to further reduce debt

By: Esmarie Swanepoel     21st March 2018 Mining major Rio Tinto has launched a $2.25-billion debt reduction programme. Under the plan, Rio has issued redemption notices for some $1.4-billion of four series of its US-dollar denominated notes, maturing in 2021 and 2022, and has started invitations to holders outside of the US to sell up... 

South Flank could support greater demand from Asia

By: Esmarie Swanepoel     21st March 2018 The approval of the proposed South Flank mine, in Western Australia, could supply Asia’s growing demand for higher quality iron-ore, mining major BHP’s iron-ore asset president, Edgar Basto said. Addressing the Global Iron Ore & Steel Forecast conference, in Perth, Basto noted that the ongoing... 

South Flank could support greater demand from Asia

G20 agrees to 'monitor' cryptocurrencies but no action yet

By: Reuters     21st March 2018 Financial policymakers from the world's top 20 economies agreed to keep a watchful eye on cryptocurrencies on Tuesday and opened the door to regulating the booming industry at a later stage. Wild swings in the price of Bitcoin, the best known of a myriad of digital currencies issued by private... 

Chinese control of cobalt supply risk for EU car industry – Glencore

By: Reuters     20th March 2018 Glencore chief executive Ivan Glasenberg said that the automotive industry is waking up too late to the fact that the Chinese will hold most of the world's global cobalt supply, a key metal for electric vehicle (EV) batteries. "If cobalt falls in hands of the Chinese, yeah you won't see EVs being... 

Geographical diversification bodes well for South Africa’s Master Drilling

By: Simone Liedtke     20th March 2018 South Africa-based raisebore driller Master Drilling’s expansion into new markets, particularly its recent entry into India and Australia, should stand it in good stead to benefit from a global uptick in the commodity cycle. The JSE-listed company in November announced its entry into the Indian... 

Amur to position Russia project as ready source for EV battery market

By: Mariaan Webb     20th March 2018 London-listed Amur Metals is gearing up for an aggressive marketing programme in large nickel consuming nations China, Korea and Japan, as the Kun-Manie nickel sulphide project, in the far east of Russia, is shaping up to be potentially a ready source for the electric vehicle (EV) battery... 

Amur to position Russia project as ready source for EV battery market

China iron-ore, steel extends losses as lofty China inventories weigh

By: Reuters     20th March 2018 Chinese iron-ore prices fell further on Tuesday, a day after posting their biggest daily drop in almost ten months as high inventories and a weak domestic steel market pressure prices. Near-term inventory risks have dampened the outlook for steel and iron-ore prices short term, Argonaut said in a... 

Glencore announces $1.7bn Rio Tinto coal mine deal

By: Esmarie Swanepoel     20th March 2018 Switzerland-headquartered mining major Glencore will acquire diversified miner Rio Tinto’s 82% interest in the Hail Creek coal mine and adjacent coal resources, in Queensland, as well as a 71.2% interest in the Valeria coal resource for $1.7-billion in cash, the company announced on Tuesday.... 

Glencore announces $1.7bn Rio Tinto coal mine deal

EV adoption rate reaching critical mass as search for ethical cobalt heats up

By: Henry Lazenby     20th March 2018 Cobalt company Cobalt 27 is seeing an ideal storm brewing for its key commodity as the adoption rate of electric vehicles (EVs) accelerates faster than even optimistic forecasts had speculated. “Cobalt 27 is a proxy for the adoption of the EV,” executive chairperson Anthony Milewski told Mining... 

EV adoption rate reaching critical mass as search for ethical cobalt heats up

Political convergence emerging against commercial coal mining in India

By: Ajoy K Das     19th March 2018 Trade unions operating in the India coal mining industry, irrespective of their political affiliations, are converging in opposing opening up coal mining for private miners, although their modes of protest form will differ. At one end of the opposition brewing up against opening up commercial... 

Updated study lowers Wafi-Golpu project cost by A$1bn

By: Esmarie Swanepoel     19th March 2018 A feasibility study into the Wafi-Golpu gold project, in Papua New Guinea, has decreased the expected total project costs by nearly A$1-billion, project partners Newcrest Mining and Harmony Gold reported on Monday. While the preproduction capital costs increased from the A$2.6-billion estimated... 

Updated study lowers Wafi-Golpu project cost by A$1bn
Harmony CEO Peter Steenkamp

Rio Tinto hires UBS to explore Pacific Aluminium listing - sources

By: Reuters     19th March 2018 Rio Tinto has asked Swiss investment bank UBS to explore a possible public listing of its Pacific Aluminium smelting business on the Australian Stock Exchange (ASX), two industry sources said on Friday. The mining group has tried to sell the division many times without success, including in... 

New Chile govt undecided on blocking SQM sale to China firms – official

By: Reuters     16th March 2018 Chile's new government is evaluating whether to support a petition filed by its predecessor to block the sale of a stake in top lithium miner SQM to a Chinese firm, a senior government official told Reuters on Friday. Chile development agency Corfo filed a complaint last week to block the sale... 

ARM's Motsepe predicts successful charter, land outcomes 

By: Martin Creamer     16th March 2018 The executive chairperson of diversified black-controlled mining company African Rainbow Minerals (ARM), Patrice Motsepe, on Friday expressed the firm conviction that South Africa was in the process of reinforcing its position as a competitive mining destination through a positive Mining Charter... 

ARM's Motsepe predicts successful charter, land outcomes
African Rainbow Minerals executive chairperson Patrice Motsepe at presentation of 15% higher half-year earnings covered by Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer.

African Rainbow Minerals ups earnings, declares dividend

By: Martin Creamer     16th March 2018 Diversified black-led mining company African Rainbow Minerals (ARM) on Friday announced a 15% increase in headline earnings for the six months to December 31 to R1 945 million. This increase was mainly as a result of improved headline earnings from the manganese division, ARM Coal, Modikwa... 

Despite bitcoin craze, bullion unlikely to lose its status as a major investment vehicle – economist

By: Nadine James     16th March 2018 Although some economists regard cryptocurrencies – bitcoin being the most popular – as a fad, others, such as Nascence Advisory director and economist Xhanti Payi, remain open-minded, unwilling to write off a potentially disruptive technology with massive implications for global economic... 

Despite bitcoin craze, bullion unlikely to lose its status as a major investment vehicle – economist

South Africa discount no longer warranted, say analysts

By: Martin Creamer     15th March 2018 The so-called 'South Africa discount' that has dogged and diminished the share prices of mining companies operating in South Africa for decades, has been declared "unwarranted" by Goldman Sachs Europe Metals & Mining Equity Research analysts, against the backdrop of the winds of political change... 

South Africa discount no longer warranted, say analysts
Photo by Goldman Sachs
Share prices of Glencore and Anglo at 2013 levels, despite higher earnings, lower debt

Iron-ore mines in Goa close down

By: Ajoy K Das     15th March 2018 Iron-ore mining in the western Indian coastal province of Goa came to a halt on Thursday in accordance with an order issued by the Supreme Court last month. However, even as miners downed shutters and evacuated equipment from mines, on Wednesday night a Goa government Cabinet Committee... 

Iron-ore mines in Goa close down

Production resumes at St Barbara’s Simberi as strike is resolved

By: Esmarie Swanepoel     15th March 2018 Gold miner St Barbara has resumed production at its Simberi operations, in Papua New Guinea, after resolving an illegal industrial action at the mine site. Work at Simberi halted on March 7, with some 60% of the workforce taking part in the industrial action. 

Glencore signs massive cobalt sale deal with China's GEM

By: Reuters     15th March 2018 Glencore, the world's biggest producer of cobalt, has agreed to sell around a third of its cobalt production over the next three years to Chinese battery recycler GEM Co, according to a filing by GEM on Wednesday. Glencore will sell 52 800 t of cobalt hydroxide to GEM between 2018 and 2020 as... 

Paradigm shift required to position mining industry for long-term success

By: Henry Lazenby     15th March 2018 The long-term mindset of the mining industry will have to change to position itself for long-term success, set against an ever-changing landscape, says BHP Billiton's head for Minerals America, Daniel Malchuck. He told an audience during the keynote session of the recent Prospectors and... 

Paradigm shift required to position mining industry for long-term success
Photo by BHP Billiton
Escondida, Chile
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