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Middle East News

Price-spiking palladium must be substituted with platinum – Sibanye-Stillwater 

By: Martin Creamer     19th February 2020 It is incumbent on the end users to help platinum group metals mining companies to a position where the platinum price will not be destroyed, Sibanye-Stillwater CEO Neal Froneman said on Wednesday. Speaking during the presentation of superlative results, Froneman said the industry could not... 

Very Proudly South African Sibanye-Stillwater set to take on world – Froneman 

By: Martin Creamer     19th February 2020 An upbeat Neal Froneman said on Wednesday that world would see his “very Proudly South African’ precious metals mining company Sibanya-Stillwater take on global companies across the world. Speaking after the relisting of the platinum group metals (PGM) and gold mining company at the Johannesburg... 

Very Proudly South African Sibanye-Stillwater set to take on world – Froneman
Photo by Creamer Media's Donna Slater
JSE CEO Dr Leila Fourie (left) and Sibanye-Stillwater CEO Neal Froneman.

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater  

By: Martin Creamer     19th February 2020 The next big disruptive technology will be hydrogen fuel cell technology, which is platinum rich, Sibanye-Stillwater CEO Neal Froneman said on Wednesday. Speaking ahead of half-year results of a 44% increase in revenue to R73-billion and a R432-million profit for 2019, Froneman stated that this... 

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater
Sibanye-Stillwater CEO Neal Froneman talks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer. Photographs: Donna Slater.

Sibanye-Stillwater delivers phenomenal 260% return – JSE 

By: Martin Creamer     19th February 2020 Top-performing Sibanye-Stillwater delivered a phenomenal return of 260% on the Johannesburg Stock Exchange in 2019, JSE CEO Dr Leila Fourie stated on Wednesday when the company relisted to the accompaniment of a rapid 5.3% early-afternoon soaring of its share price. From a Gold Fields spinoff... 

Sibanye-Stillwater delivers phenomenal 260% return – JSE
Photo by Creamer Media's Donna Slater
Sibanye-Stillwater's ceremony at JSE

Moody’s expanded gold price range allows for flexibility in credit assessments

By: Marleny Arnoldi     19th February 2020 Ratings agency Moody’s has expanded its price sensitivity range for gold, based on supportive factors such as lower-for-longer interest rates and geopolitical uncertainties. Moody’s has increased the higher end of the sensitivity range by $100/oz to $1 400/oz, while the lower end of the range... 

Gold tops $1 600 as virus fuels growth fears

By: Bloomberg     19th February 2020 Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus and how it’s impacting global growth. Palladium topped $2 700/oz as it continued its record-breaking rally. Bullion steadied after surging 1.3% Tuesday’s as Apple’s warning that the virus and efforts... 

South Africa’s Astron ‘a nice short to have for the trading business’ – Glencore 

By: Martin Creamer     18th February 2020 Glencore CEO Ivan Glasenberg on Tuesday described his company’s investment in Astron Energy oil refinery and fuel distribution station business in South Africa as “a nice short to have for the trading business”. The Chevron oil refinery in Cape Town and the Caltex brand now fall under Astron... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve 

By: Martin Creamer     18th February 2020 Climate-friendly energy transition metals, copper, cobalt and nickel, stole the limelight during Glencore’s presentation of 2019 results on Tuesday, when the company revealed that it would be depleting its coal reserves in line with the global move towards a low-carbon economy. Presenting... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve
Photo by Bloomberg
Ivan Glasenberg

Glencore provides update on its transition to low-carbon economy

By: Martin Creamer     18th February 2020 JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore on Tuesday published an update on its performance in transitioning towards a low-carbon economy. This follows its climate change position statement of February 2019. 

Glencore provides update on its transition to low-carbon economy
Photo by Bloomberg
Ivan Glasenderg

Modernisation, digitisation part of next value delivery – Amplats  

By: Martin Creamer     17th February 2020 Top of the list of the four focus areas of platinum group metals (PGM) mining company Anglo American Platinum (Amplats) to drive its next phase of value is operational efficiency. Outlining this at the company’s presentation of record financial and safety achievements, Amplats CEO Chris Griffith... 

Modernisation, digitisation part of next value delivery – Amplats
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Substitution outlook intensifies with platinum at half palladium price ­– Amplats 

By: Martin Creamer     17th February 2020 With the price of platinum at half of the palladium price, the concept of replacing palladium with platinum in some gasoline catalyst convertors is increasingly likely to occur – but not in the very short term, outgoing Anglo American Platinum (Amplats) CEO Chris Griffith said on Monday.... 

Substitution outlook intensifies with platinum at half palladium price ­– Amplats
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith  

By: Martin Creamer     17th February 2020 The introduction of hydrogen fuel cell mining in response to climate change is poised to cut the greenhouse gas emissions of platinum group metals mining company Anglo American Platinum by 30%. A large enabler of this significant reduction is the introduction of hydrogen fuel cell mining trucks,... 

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Record-performing Amplats applying for 75 MW solar power at Mogalakwena

By: Martin Creamer     17th February 2020 Platinum group metals (PGMs) mining company Anglo American, which has reported record safety, record financials and the highest dividend in 15 years, has submitted an application to be allowed to self-generate 75 MW of solar power at its Mogalakwena mine where the world’s largest hydrogen fuel... 

Record-performing Amplats applying for 75 MW solar power at Mogalakwena
Photo by Creamer Media's Donna Slater
Chris Griffith

Chris Griffith to step down as Amplats CEO

By: Martin Creamer     17th February 2020 Anglo American Platinum (Amplats) CEO Chris Griffith is to step down as CEO of the company after seven years at the helm, the board of Anglo American Platinum said on Monday. The company announced that Griffith, who took Kumba Iron Ore to great heights before taking on Amplats, will also leave... 

Chris Griffith to step down as Amplats CEO
Photo by Creamer Media's Donna Slater
Chris Griffith

Govt-mining industry cooperation at regional level very good – Gold Fields  

By: Martin Creamer     13th February 2020 The cooperation between the government and mines at regional level is very good, but where it falls down is at national level, Gold Fields CEO Nick Holland said on Thursday. Responding to Mining Weekly during a media roundtable at the JSE, Holland said that at the national level, there was... 

Govt-mining industry cooperation at regional level very good – Gold Fields
Gold Fields CEO Nick Holland questioned by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

IEA sees first global oil demand drop in a decade on coronavirus

By: Bloomberg     13th February 2020 Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China’s economy, the International Energy Agency said. The new estimates show that oil markets face a significant surplus despite the latest production cuts by OPEC and its partners. Crude... 

Gold Fields' output beats guidance, profit soars, dividends total 160c a share

By: Martin Creamer     13th February 2020 Gold mining company Gold Fields, which has declared a final dividend of 100 c a share, recorded 2019 production which exceeded guidance, along with lower costs and an increased dividend. Attributable 2019 gold equivalent production was 2 195 000 oz, an 8% increase, and all-in costs fell 9% to $1... 

Gold Fields' output beats guidance, profit soars, dividends total 160c a share
Photo by Creamer Media
Nick Holland

PGM demand, prices likely to remain high this year

By: Marleny Arnoldi     12th February 2020 After resurgent demand pushed the platinum market into deficit in 2019, with the total volume of platinum under investment coming in at a record 3.4-million ounces at the start of this year, speciality chemicals company Johnson Matthey says the platinum market could move back into surplus this... 

Barrick ups dividend 40% as gold output hits top end of guidance

By: Martin Creamer     12th February 2020 “If you know where you’re going, you generally get there,” said Barrick CEO Dr Mark Bristow in response to Mining Weekly on Wednesday after the company presented convincing financial results that show that the New York- and Toronto-listed business is sure getting there under Bristow’s astute... 

Barrick ups dividend 40% as gold output hits top end of guidance
Photo by Creamer Media
Mark Bristow

'Green’ is king as ESG sweeps through mining world – DRDGold  

By: Martin Creamer     12th February 2020 Community members are being recruited to vegetate Johannesburg’s gold mine dumps as part of a dust suppression, environmental protection and ‘green’ imperative, DRDGold CEO Niël Pretorius said on Wednesday. In presenting a stupendously successful set of half-year results that saw operating profit... 

'Green’ is king as ESG sweeps through mining world – DRDGold
DRDGold CEO Niël Pretorius presenting from New York to Mining Weekly’s Martin Creamer. Video editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

DRDGold cock-a-hoop on ‘wonderful’ gold performance  

By: Martin Creamer     12th February 2020 Surface gold-mining company DRDGold is cock-a-hoop over its half-year performance, which saw it produce 3 t of gold from waste dumps on the East Rand and the West Rand in the six months to December 31. But the company is also continuing to work intently on tracking down the gang of armed robbers... 

DRDGold cock-a-hoop on ‘wonderful’ gold performance
DRDGold CFO Riaan Davel interviewed by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Video: Kutlwano Matlala. Photographs: Donna Slater.

DRDGold hits dividend high spot

By: Martin Creamer     12th February 2020 Surface gold mining company DRD Gold has hit the dividend high spots by extending its dividend declarations to the thirteenth consecutive year. The company, headed by CEO Niël Pretorius, has declared a dividend of 25c a share for the six months ended December, which follows a six-fold increase in... 

DRDGold hits dividend high spot
Photo by Creamer Media
Niël Pretorius

Another step forward for world’s largest hydrogen truck at Mogalakwena

By: Martin Creamer     12th February 2020 Development of the world’s largest hydrogen-powered mine truck took another step forward this week. Autocar reports that Anglo American has engaged Williams Advanced Engineering to  help develop the new fuel cell electric vehicle that will be put through its paces at South Africa’s Mogalakwena... 

Another step forward for world’s largest hydrogen truck at Mogalakwena
Platinum group metals helping to fight climate change.

Harmony Gold decries attacks on gold plants  

By: Martin Creamer     11th February 2020 The spate of violent attacks on gold smelting plants is of great  concern, Harmony Gold CEO Peter Steenkamp said on Tuesday. There were 19 attacks on gold facilities last year in which two security personnel were murdered, according to Minerals Council South Africa. (Also watch attached Creamer... 

Harmony Gold decries attacks on gold plants
Harmony Gold CEO Peter Steenkamp interviewed by Mining Weekly’s Martin Creamer. Video & Video Editing: Darlene Creamer. Photograph: Donna Slater.

Harmony Gold expects to have 30 MW solar plant year from now  

By: Martin Creamer     11th February 2020 Gold mining company Harmony expects to have a 30 MW solar power plant running in a year from now, provided all regulatory obstacles are removed. The company is also in discussion with Eskom to alleviate the impact of load-shedding. Harmony CEO Peter Steenkamp said during a media conference... 

Harmony Gold expects to have 30 MW solar plant year from now
Harmony Gold half-year presentation reported on by Mining Weekly’s Martin Creamer. Video & Video Editing: Darlene Creamer. Photograph: Donna Slater.

Wafi-Golpu discussions in Papua New Guinea to restart – Harmony 

By: Martin Creamer     11th February 2020 Discussions with the Papua New Guinea government on the special mining lease for the Wafi-Golpu Project are to be recommenced, Harmony Gold said on Tuesday. The resumption of the discussions comes a year after support for a memorandum of understanding (MOU), signed between the State of Papua New... 

Wafi-Golpu discussions in Papua New Guinea to restart – Harmony
Harmony Gold half-year presentation reported on by Mining Weekly’s Martin Creamer. Video & Video Editing: Darlene Creamer. Photograph: Donna Slater

World emissions kept in check as rich nations kick coal habit

By: Bloomberg     11th February 2020 Global emissions from energy held steady in 2019 for the first time in three years as developed nations continued to move away from coal power and toward renewable energy and natural gas. Even as the world economy grew, energy-related carbon dioxide emissions remained at 33.3-billion tons.... 

Safety-boosted Harmony reports higher revenue, earnings orbit

By: Martin Creamer     11th February 2020 Gold-mining company Harmony Gold on Tuesday reported its best-ever safety record in the six months to the end of December, when its  earnings rocketed and its revenue rise outperformed the same period last year. The JSE-listed company, headed by CEO Peter Steenkamp, reported a 6 325% increase in... 

Safety-boosted Harmony reports higher revenue, earnings orbit
Photo by Creamer Media
Peter Steenkamp

PGMs to play ever increasing roles in greener, cleaner world – Anglo Platinum 

By: Martin Creamer     10th February 2020 Platinum group metals (PGMs) mining company Anglo American Platinum is convinced that PGMs are poised to play increasingly significant roles in a greener, cleaner world, driven by favourable new opportunities presented by societal megatrends. Anglo American Platinum CEO Chris Griffith, who... 

PGMs to play ever increasing roles in greener, cleaner world – Anglo Platinum
The number of indirect jobs totals 90 000

Gold extends gain after WHO chief’s ‘tip of the iceberg’ warning

By: Bloomberg     10th February 2020 Gold climbed for a fourth straight day as investors weighed the unfolding coronavirus crisis, including a blunt warning from the head of the World Health Organization about the potential for more cases beyond China. Prices rose as the global death toll from the outbreak topped 900 and the WHO... 

Gold ETF investment continued rising in January

By: Marleny Arnoldi     7th February 2020 Global gold-back exchange-traded funds (ETFs) reached a new all-time high in January, at 2 947 t. ETFs and similar products added 61 t, or net inflows of $3.1-billion in January.  

Gold ETF investment continued rising in January

Mining sector found to be highly exposed to water risks 

By: Natasha Odendaal     7th February 2020 The mining sector has come out tops as the industry most likely to be affected most by the world’s worsening water crises, and South Africa’s mining sector is not immune. The World Wide Fund for Nature (WWF) has warned of the water risks facing the mining industry after an exhaustive analysis of... 

Mining sector found to be highly exposed to water risks

De Beers Group’s ‘make life brilliant’ fostering best-in-class mining 

By: Martin Creamer     7th February 2020 De Beers Group Managed Operations MD responsible for South Africa and Canada, Nompumelelo (Mpumi) Zikalala, spoke to Mining Weekly this week about the highlights and one lowlight of her first nine months in office. 

De Beers Group’s ‘make life brilliant’ fostering best-in-class mining
Photo by Creamer Media
Nompumelelo (Mpumi) Zikalala,

Coronavirus hurts base metals, iron-ore prices

By: Simone Liedtke     5th February 2020 The outbreak and contagion of a new strain of the coronavirus – which began in the Chinese city of Wuhan in December – has contributed to renewed concerns over economic growth prospects, particularly in China. China, which is a major supplier and consumer of base metals as well as a major... 

LBMA looking to elevate responsible gold sourcing standards  

By: Martin Creamer     4th February 2020 The London Bullion Market Association (LBMA) is looking to elevate the standards of its responsible precious metals sourcing programme. When responsible sourcing guidance was launched in 2012, the main focus was on ensuring that links with conflicts, money laundering and terrorist financing were... 

LBMA looking to elevate responsible gold sourcing standards
Creamer Media's Martin Creamer speaks to LBMA executive director Sakhila Mirza and LBMA chief technical director Neil Harby during the 2020 Investing in African Mining Indaba. Video and editing: Nicholas Boyd.

Private equity abandons mining as deal opportunities dry up

By: Bloomberg     3rd February 2020 Private equity firms lost interest in the mining world last year, pumping 75% less money into the sector as they focused more on funding existing investments. Investments dropped to $500-million from $2-billion a year earlier, according to a report by law firm Bryan Cave Leighton Paisner (BCLP).... 

Mining gathering must confront human rights violations, says Amnesty

By: Simone Liedtke     3rd February 2020 Mining companies and their stakeholders, including investors, governments and politicians, must confront the human rights abuses that are rife in the industry, nongovernmental organisation Amnesty International said on Monday. The statement was issued as the yearly Investing in African Mining... 

Hedge funds say copper is a cheap, but terrifying trade

By: Bloomberg     3rd February 2020 For the handful of hedge-fund traders who built long careers riding the volatility of commodities markets, two things are obvious about copper: it’s cheap and terrifying. There’s a good argument that the metal – which is in the midst of a record-breaking 13-day sell off – is due for a bounce... 

Hedge funds say copper is a cheap, but terrifying trade
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