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Middle East News

‘Peak’ cobalt is not on the horizon – S&P’s Global Market Intelligence

By: Marleny Arnoldi     Updated 4 hours ago Peak cobalt is not on the horizon, says Standard & Poor’s (S&P’s) Global Market Intelligence metals and mining research analyst Michael Giblin.  

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     Updated 5 hours ago In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12 J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

New mining fund raising R750m to co-finance ancillary mine projects
CCP 12j MD Paul Miller talks to Mining Weekly Online’s Martin Creamer on new tax incentives to boost mining investment. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Coal to remain a significant energy source for decades – WCA

By: Nadine James     13th July 2018 Coal will remain a vital growth enabler and source of energy for decades to come, says World Coal Association CEO Benjamin Sporton. He notes that demand for coal will remain stable to positive, as a result of increased industrialisation and electrification, especially in Africa and South-East Asia. 

Coal to remain a significant energy source for decades – WCA
Photo by Creamer Media
COAL IS CONSTANT Coal will actually be the single largest energy source in 2040

World's oil cushion could be stretched to the limit, IEA warns

By: Reuters     12th July 2018 The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency (IEA) said on Thursday. The expected drop in Iranian crude exports this year due to renewed US sanctions, coupled with a... 

World's oil cushion could be stretched to the limit, IEA warns

WFDB appoints World Diamond Mark chairperson

By: Creamer Media Reporter      12th July 2018 Former Dubai Diamond Exchange president Peter Meeus has been appointed chairperson of the World Federation of Diamond Bourses’ (WFDB’s) World Diamond Mark (WDM) programme. “I am delighted that Peter has agreed to take over as chairperson of the WDM, which was created by the WFDB in 2012. Peter... 

World Diamond Congress to be held in Mumbai in October

By: Schalk Burger     11th July 2018 The World Federation of Diamond Bourses (WFDB) has announced that the 2018 World Diamond Congress, the biannual meeting of the WFDB and the International Diamond Manufacturers Association (IDMA), will take place in Mumbai, India, from October 23 to 25. “This is a very important meeting where we... 

SRK, industry loses leading light

By: Nadine James     11th July 2018 One of SRK Consulting’s three founding members, Dr Oskar Steffen, passed away on Wednesday, June 27, in Johannesburg. He was 77 years old. Steffen was born in Swaziland, where he completed his schooling. He left for Johannesburg in 1956 to study civil engineering at the University of the... 

SRK, industry loses leading light
Photo by Creamer Media
Dr Oskar Steffen

Mining can be a major driver of development in poor countries – ICMM

By: Marleny Arnoldi     10th July 2018 The lives of people living in countries whose economies are dependent on mining have, on average, improved faster than those of people in other countries over the past 20 years, a report by the International Council of Mining and Metals (ICMM) has found.  

Mining can be a major driver of development in poor countries – ICMM
Countries that are mining dependent that were studied in ICMM's report

Platinum jewellery heading for good year – PGI 

By: Martin Creamer     9th July 2018 Significant demand growth is under way in the platinum jewellery market, which remains the second biggest ounce contributor to platinum demand at 2.5-million ounces of yearly fabrication, some 35% of total demand. “We’re seeing a lot of growth in the market. Obviously, the platinum price is... 

Platinum jewellery heading for good year – PGI
Platinum Guild International CEO Huw Daniel talks to Mining Weekly Online’s Martin Creamer on platinum jewellery promotion. Video and Video Editing. Nicholas Boyd

Battery-skeptic funds wait out cobalt rally seen as fleeting

By: Bloomberg     9th July 2018 Call them battery skeptics. Bets on surging demand for electric vehicles have made cobalt and lithium hot commodities, but some investors say the outlook is leaving them cold. While prices have more than doubled in the past three years on worries over shortages of the metals used in batteries,... 

Copper's collapse tops $1 000 as Trump picks a fight with China

By: Bloomberg     6th July 2018 Copper’s flashing a powerful warning about expectations for economic growth after US President Donald Trump chose to embark on a major escalation of his administration’s global trade war, imposing tariffs on $34-billion of imports from China, which vowed to respond in kind. The metal has lost... 

Copper's collapse tops $1 000 as Trump picks a fight with China

Iron-ore slides to seven-month low as trade war fears mount

By: Bloomberg     5th July 2018 Iron-ore’s starting to buckle after a series of warnings that prices are set to drop amid rising global supply, and as investors fret about the potential impact of escalating trade tensions between the US and China. Benchmark spot ore eased to $62.50/t on Thursday, the lowest since November,... 

Goldman says buy commodities as clock ticks toward trade war

By: Bloomberg     5th July 2018 Commodity bull Goldman Sachs Group Inc. has poured cold water on the notion that a trade war between the US and China represents a serious threat to raw materials, saying most of them aren’t likely to be significantly impacted, and after recent declines now’s the time to buy. The Wall Street... 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme

By: Martin Creamer     5th July 2018 Research analysts have sprung to the defence of Glencore, which has rapidly restored confidence by announcing an immediate share buyback programme that communicates the formidable faith of management in the London- and Johannesburg-listed diversified mining and marketing company. In a note... 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

Emirates Global Aluminium signs bauxite supply contract with Vedanta

By: Marleny Arnoldi     4th July 2018 Industrial company Emirates Global Aluminium (EGA) has signed an agreement to supply metals miner Vedanta Limited with bauxite from its mining operation in Guinea from 2019.  

Emirates Global Aluminium signs bauxite supply contract with Vedanta
Emirates Global Aluminium CEO & MD Abdulla Kalban

Kropz eyeing dual listing

By: Martin Creamer     4th July 2018 Emerging plant nutrient producer Kropz is eyeing a dual listing on the Johannesburg Securities Exchange in addition to seeking admission to trade on the Aim in London, where it intends raising equity capital to fund the completion of its advanced-stage phosphates project in South Africa, cut debt... 

Kropz eyeing dual listing
Photo by Creamer Media
Kropz CEO Ian Harebottle

Kropz to list on London’s Aim to fund South African project

By: Martin Creamer     2nd July 2018 Emerging plant nutrient producer Kropz will seek admission to trade on the Aim in London, where it intends raising the funds required to complete the upgrading and commissioning of its advanced-stage phosphate project in South Africa, as well as cut debt and develop a wider African asset base.... 

Kropz to list on London’s Aim to fund South African project
Photo by Creamer Media
Kropz CEO Ian Harebottle

Commodities face a twin threat, Morgan Stanley says

By: Bloomberg     29th June 2018 Commodities face a twin threat in the coming months, according to Morgan Stanley, which flagged burgeoning risks to consumption from a potential escalation in global trade tensions, especially for metals, as well as any slowdown in China. “Escalating global trade tensions bring a risk of demand... 

Rio Tinto ready to splash out on copper

By: Reuters     29th June 2018 Rio Tinto wants copper badly, and it's ready to pay top-dollar. The global miner would be willing to fork out a large premium over market value to secure a prime asset as it tries to reduce its reliance on iron ore, company and banking sources told Reuters. 

BHP commits $211m to Brazil’s Renova Foundation, Samarco

By: Esmarie Swanepoel     29th June 2018 Mining major BHP on Friday said that it would contribute a total of $211-million to the Renova Foundation and its joint venture with Brazilian major Vale, Samarco, until the end of December this year. The miner said that $158-million of the funds would go towards the Renova Foundation to... 

Gold hits over six-month low as dollar strengthens

By: Reuters     28th June 2018 Gold prices hit their lowest in more than six months on Thursday as the greenback held near one-year highs amid mounting US-China trade friction. Spot gold was down 0.2% at $1 249.71/oz, as of 0752 GMT. Earlier in the session, the bullion touched $1 248.25, its lowest since mid-December. 

Alara expects more revenue from Oman

By: Esmarie Swanepoel     28th June 2018 ASX-listed Alara Resources has updated the economics of its Al Hadeetha copper project, in Oman, which resulted in higher forecast revenues and earnings before interest, taxes, depreciation and amortisation (Ebitda), but also an increase in preproduction capital costs. Alara on Thursday said... 

‘Standout’ Glencore is ‘top pick’

By: Martin Creamer     27th June 2018 In a 150-page analysis of four of the world’s biggest diversified mining majors, Glencore has emerged as the top pick of financial services company Credit Suisse, which has declared the London- and Johannesburg-listed company headed by Ivan Glasenberg as the current “standout” diversified mining... 

‘Standout’ Glencore is ‘top pick’
Photo by Creamer Media
Flashback to CEO Ivan Glasenberg opening Glencore-funded school in South Africa's coalfields.

WGC report a first step in understanding gold’s GHG footprint

By: Anine Kilian     27th June 2018 While there is limited published data on gold’s global carbon footprint, research by the World Gold Council (WGC) has determined that total greenhouse-gas (GHG) emissions from newly-mined gold are significantly lower than those of other major metals and mined products. “Gold is also valuable and,... 

Gold seen fighting back as dollar rebound is poised to reverse

By: Bloomberg     27th June 2018 Much maligned gold is set to stage a comeback as the dollar weakens, according to Pictet Wealth Management. Bullion will climb to $1 320 an ounce by the end of the year, said currency strategist Luc Luyet, which compares with about $1 256 on Wednesday. While trade tensions haven’t yet provided... 

IEA sees gas demand growth of 1.6% a year, China to become largest importer

By: Esmarie Swanepoel     27th June 2018 A new report by the International Energy Agency (IEA) has shown that global gas demand will grow at an average rate of 1.6% a year, reaching just more than 4.1-trillion cubic metres in 2023. This forecast compares with demand of 3.74-tillion cubic metres in 2017, the IEA noted in its ‘Gas 2018’... 

IEA sees gas demand growth of 1.6% a year, China to become largest importer

Copper remains globally undersupplied, but production to pick up in next decade – BMI

By: Marleny Arnoldi     27th June 2018 BMI Research expects the global copper market to experience a persistent undersupply over the coming years, as global consumption growth, driven by China's power and infrastructure sectors and increasingly by rising electric vehicle (EV) production, continues to outpace supply growth.  

Copper remains globally undersupplied, but production to pick up in next decade – BMI

Ongoing fuel cell developments kindle hope for platinum demand 

By: Martin Creamer     26th June 2018 Ongoing hydrogen fuel cell developments across the globe are kindling hope for an eventual significant increase in platinum demand. This month alone, Hyundai Auto Canada took part in the official opening of Canada's first retail hydrogen fuelling station operated by Shell and Hydrogen Technology... 

Ongoing fuel cell developments kindle hope for platinum demand
Photo by Canadian Broadcasting Corporation
Shell hydrogen GM Oliver Bishop fuels a fuel cell Hyundai in Vancouver.

Nickel market deficit increases, but surplus expected by 2020 – BMI

By: Marleny Arnoldi     26th June 2018 BMI Research anticipates the global refined nickel market to remain in a slight deficit this year, as global production remains subdued.  

Nickel market deficit increases, but surplus expected by 2020 – BMI

Gold ETFs headed for weakest month since July 2017, despite trade war jitters

By: Reuters     26th June 2018 Gold-backed exchange-traded funds (ETF) tracked by Thomson Reuters were headed for their weakest month since July 2017, as investors covered losses in equities, commodities and other markets caused by tariff disputes. Gold, typically seen as a safe store of value during times of geopolitical and... 

Orion accelerating on all fronts, looking to upscale production

By: Martin Creamer     25th June 2018 ASX- and JSE-listed Orion Minerals has raised an additional A$11-million through a share placement so that it can accelerate on all fronts. This equity capital raising funds the company beyond the bankable feasibility study (BFS) to progress its Prieska zinc/copper project, in South Africa's... 

Orion accelerating on all fronts, looking to upscale production
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Tri-Star raises cash to invest in Oman antimony project

By: Mariaan Webb     22nd June 2018 London-listed Tri-Star has announced a placing to raise £13-million, the proceeds of which mainly will be used to meet its share of additional investment in its Oman antimony and gold processing joint venture (JV). Tri-Star, which owns 40% of Strategic and Precious Metals Processing (SPMP), said... 

Coal is being squeezed out of power by cheap renewables

By: Bloomberg     21st June 2018 Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally. That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5-trillion of... 

Trump's fickleness is dulling gold's appeal, Deutsche Fund says

By: Bloomberg     21st June 2018 Gold is failing in its traditional role as a haven in turbulent times, and a Deutsche fund manager has an explanation. On Tuesday, as the deepening trade spat between the US and China sent the S&P 500 index tumbling the most in a week, investors sought haven in the dollar, US Treasuries and yen,... 

Hyundai teams up with VW's Audi to boost hydrogen cars

By: Reuters     20th June 2018 Hyundai agreed a deal with Audi on Wednesday to collaborate on hydrogen car technology, hoping to boost an energy segment that has lagged behind battery electric vehicles. The South Korean firm wants to increase the uptake of hydrogen cars, which are propelled by electricity generated by fuel... 

The Israeli billionaire forcing Glencore to buck US sanctions

By: Bloomberg     16th June 2018 Not many billion-dollar companies would be willing to circumvent US sanctions for their business partner, but then few people are as powerful as Dan Gertler in the Democratic Republic of Congo. Gertler scored a victory when Glencore said on Friday that it would evade US sanctions to keep paying... 

The Israeli billionaire forcing Glencore to buck US sanctions
Dan Gertler

Glencore’s DRC settlements should allay fears about asset seizure – analyst

By: Chanel de Bruyn     15th June 2018 Diversified miner Glencore’s settlement, this week, of various disputes with entities in the Democratic Republic of Congo (DRC), should allay investor concerns about the risk of a seizure of its DRC assets, says Goldman Sachs. Glencore, led by CEO Ivan Glasenberg, on Friday announced that it had... 

Glencore’s DRC settlements should allay fears about asset seizure – analyst
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Glencore says settled Congo mining dispute

By: Reuters     15th June 2018 Miner and commodities trader Glencore has settled its Congo mining dispute with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than US dollars, Glencore said on Friday. US sanctions on Gertler, Glencore's former Israeli partner in... 

Glencore says settled Congo mining dispute
Glencore subsidiary Katanga Mining's operations in the DRC.
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