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R/€ = 16.27 Change: 0.01
R/$ = 14.39 Change: 0.01
Au 1238.58 $/oz Change: 0.51
Pt 783.50 $/oz Change: -9.03
 

Middle East News

Global uranium supply sufficient to meet future demand – NEA 

By: Marleny Arnoldi     14th December 2018 Intergovernmental agency, the Nuclear Energy Association (NEA), says the world’s supply of uranium is more than adequate to meet projected requirements for the foreseeable future, regardless of the role that nuclear energy will play in meeting future electricity demand and global climate... 

Synthetic diamonds hogged media attention in 2018

By: Nadine James     14th December 2018 Media coverage of the diamond industry in 2018 has been dominated by the progression of laboratory-created diamond production, distribution and pricing dynamics, according to independent diamond expert Paul Zimnisky. He commented that several new players have entered the synthetic diamond space,... 

Synthetic diamonds hogged media attention in 2018
Photo by Bloomberg
TALK OF THE TOWN Laboratory-grown diamonds have held media and industry attention throughout 2018

Japanese trading giant Mitsubishi throws weight behind platinum 

By: Martin Creamer     13th December 2018 The Japanese trading giant Mitsubishi has thrown its weight behind technologies that harness the high-performance characteristics of platinum group metals (PGMs) by joining Anglo American Platinum (Amplats) and South Africa’s Public Investment Corporation (PIC) as an investor in AP Ventures,... 

Japanese trading giant Mitsubishi throws weight behind platinum
Photo by Creamer Media
AP Ventures managing partner Andrew Hinkly

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

Big coal wants consumers to pay for fixing its pollution problem

By: Bloomberg     11th December 2018 Some of the world’s biggest fossil-fuel producers are calling on taxpayers to help them kick their pollution habit. The world’s biggest oil, natural gas and mining companies are stepping up their campaign to deploy carbon capture and storage, or CCS, as way to slow global warming. But with a... 

Oil holds drop on doubts over Opec curbs and US supply threat

By: Bloomberg     11th December 2018 Oil held its biggest loss in two weeks as uncertainty over how the Opec+ coalition will implement its output cuts and the prospect of surging US supplies kept investors wary. Futures in New York were little changed, after Monday’s 3.1% drop erased gains following last week’s pact between Saudi... 

Transnet praised for rapidly restoring stricken Saldanha iron-ore line 

By: Martin Creamer     7th December 2018 State rail transport enterprise Transnet has earned praise by pulling out all the stops to rapidly restore a railway bridge on South Africa’s crucial Sishen–Saldanha iron-ore line. The line came to a halt on November 28 after a truck carrying heavy equipment at excessive height on a public road... 

Transnet praised for rapidly restoring stricken Saldanha iron-ore line
Crucial iron-ore line back on track after rapid bridge restoration

Opec goes back into crunch talks as Russia resists big oil cut

By: Bloomberg     7th December 2018 The Organisation of Petroleum Exporting Countries (Opec) prepared for a further day of talks on oil-production curbs after a summit on Thursday ended with no deal, as Russia resisted the big output cut that Saudi Arabia was demanding. After a six-hour meeting in Vienna, Saudi Energy Minister... 

Process that will ‘drastically’ cut the power needed to reprocess mining waste edging closer to commercialisation

By: Tracy Hancock     7th December 2018 Energy efficiency in the mining and minerals processing sector continues to be a hot topic, especially in South Africa, where increases in the cost of energy sources – namely electricity, diesel and coal – along with that of labour, exceed inflation.   

Process that will ‘drastically’ cut the power needed to  reprocess mining waste edging closer to commercialisation

Gold-backed ETFs up on stock volatility in November

By: Reuters     6th December 2018 Gold-backed exchange-traded funds (ETFs) registered inflows in all the world's major regions in November, as volatile stock markets fueled flight-to-safety buying, the World Gold Council said on Thursday. North American funds had inflows of $352.7-million while European funds posted inflows of... 

Pioneering nickel sulphate venture draws down on loan 

By: Martin Creamer     6th December 2018 Black-controlled Thakadu Battery Materials, a pioneering South African high-purity battery-grade nickel sulphate developer, has made its first drawdown from South Africa’s State-owned Industrial Development Corporation (IDC) under a R152-million loan facility agreement. The IDC loan is funding... 

Pioneering nickel sulphate venture draws down on loan
Thakadu Battery Materials CEO Ruli Diseko

Investment Battlefield competition seeks next big investment opportunity

By: Simone Liedtke     5th December 2018 Investing in African Mining Indaba is set to host its third Investment Battlefield competition during its twenty-fifth edition of the event from February 4 to 6, 2019. Event organisers are looking for sub-Saharan Africa’s most promising mining companies with a market capitalisation of $50-million... 

Innovate and generate cash at same time – Dassault Systèmes Geovia  

By: Martin Creamer     5th December 2018 The objectives of innovating and generating cash are not mutually incompatible and can be achieved at multiple levels simultaneously, says Dassault Systèmes Geovia Brand CEO Raoul Jacquand, who was in Johannesburg to showcase the French company’s suite of advanced three-dimensional (3D) software.... 

Innovate and generate cash at same time – Dassault Systèmes Geovia
Dassault Systèmes Geovia Brand CEO Raoul Jacquand spoke to Mining Weekly Online’s Martin Creamer on new mining technology. Video: Christo Greyling. Photogaphs: Creamer Media Chief Photographer Dylan Slater.

Physical gold buying to remain ‘solid’ in 2019 – WGC

By: Marleny Arnoldi     5th December 2018 The World Gold Council (WGC) expects the key factors that drove gold pricing in the second half of this year to continue to hold sway over the market in 2019. WGC chief market strategist John Reade said in a statement issued on Wednesday that the gold price had generally trended down from... 

Physical gold buying to remain ‘solid’ in 2019 – WGC

Palladium tops gold after rally powered by surge in demand

By: Bloomberg     5th December 2018 Gold just got left behind by one of its sister metals. After a demand-fueled rally over the past four months that’s seen prices hit a record, palladium for immediate delivery topped gold following a surge higher. Palladium, which hasn’t traded at a sustained premium to gold in 16 years, has... 

Licence to operate in changing social, digital landscape miners’ biggest risk – EY

By: Marleny Arnoldi     4th December 2018 Licence to operate has been identified as the biggest risk to mining, a new report by professional services firm EY shows. The report, which is based on a survey of the top ten business risks facing mining and metals in 2019 and 2020, states that the stakeholder landscape is changing and miners... 

The final frontier: who owns the oceans and their hidden treasures?

By: Reuters     4th December 2018 Ransom-hungry pirates, polar explorers, offshore oil giants - the race for the riches of the world's final frontier is on. From Thailand to Alaska, the battle to tap ever-dwindling resources from minerals to fish is spurring new conflicts over who has the right to the treasures of the deep seas. 

Glencore doing whatever it can to assist Eskom – Glasenberg 

By: Martin Creamer     4th December 2018 Diversified mining and marketing company Glencore is doing whatever it can to assist Eskom overcome its current coal supply issues, Glencore CEO Ivan Glasenberg has told Mining Weekly Online. “We’re looking at trucking coal and railing coal, 24 hours a day, seven days a week, to assist them on... 

Glencore doing whatever it can to assist Eskom – Glasenberg
Glencore CEO Ivan Glasenberg

Congo declares cobalt 'strategic', nearly tripling royalty rate

By: Reuters     4th December 2018 Democratic Republic of Congo has declared cobalt a "strategic" substance, a government decree showed on Monday, nearly tripling the royalty rate miners will pay on the key component in electric batteries to 10%. Prime Minister Bruno Tshibala signed the decree, which is dated November 24, despite... 

Glencore's billionaire copper chief retires under legal pressure  

By: Bloomberg     3rd December 2018 Glencore on Monday announced the retirement of-billionaire Aristotelis Mistakidis, its embattled head of copper trading and one of the company’s biggest shareholders. Mistakidis’s departure marks the end of an era. The 56-year-old executive is one of the world’s most powerful commodities traders... 

Glencore's billionaire copper chief retires under legal pressure

Gold now has a challenger for the mantle of most-precious metal

By: Bloomberg     3rd December 2018 The scramble for palladium supply has taken the precious metal within striking distance to its costliest cousin – gold. Palladium, used as an autocatalyst in gasoline-fueled vehicles, climbed to a record for a fourth time this month as users of the precious metal compete for limited supply.... 

Gold now has a challenger for the mantle of most-precious metal

Mining industry leadership set for changing of the guard

By: Reuters     3rd December 2018 Titans of the mining industry who have led the industry through myriad storms for decades are set to retire over the next few years, a once-in-a-generation turnover that has sparked a search for fresh talent with far different skills than current executives. Ivan Glasenberg, chief executive of... 

Lithium markets to be oversupplied despite EV growth – Moody’s

By: Creamer Media Reporter      30th November 2018 The lithium market is expected to be in oversupply in the early 2020s, despite rapid demand growth from the electric vehicle (EV) battery industry, a new report by Moody’s Investor Services states. Lead author Joseph Princiotta says the surpluses will be greatest between 2020 and 2022, when a... 

Nickel price to weaken during 2019, but strengthen again thereafter

By: Rebecca Campbell     30th November 2018 Analysis and consultancy company Fitch Solutions Macro Research (part of the Fitch Group but separate and distinct from sister company Fitch Ratings) has reduced its forecast nickel price for 2019, while remaining confident that it will thereafter trend upwards again. Its previous nickel price... 

Almost half of coal power plants seen unprofitable to operate  

By: Bloomberg     30th November 2018 The surge in coal prices in the past three years is cutting into the profitability of power stations that burn the fuel, a prominent forecaster said. About 42% of the world’s coal generation capacity is losing money, according to Carbon Tracker, an energy researcher that advocates for climate... 

Anglo willing to play constructive land role  

By: Martin Creamer     29th November 2018 Anglo American CEO Mark Cutifani on Wednesday expressed willingness to play a constructive role in helping South Africa to arrive at solutions involving the diversification of land ownership and ensuring land productivity. Speaking to journalists at a year-end media function, Cutifani urged the... 

Anglo willing to play constructive land role
Photo by Creamer Media
Anglo American CEO Mark Cutifani

WGC to appoint David Tait chief executive

By: Reuters     28th November 2018 The World Gold Council (WGC) said on Wednesday it would appoint David Tait, an investment banker and member of the Bank of England's market standards board, as chief executive from next year. Tait will take over in February from Aram Shishmanian, the council's CEO for the last decade, the WGC said. 

ICMM commits to UN Guiding Principles on Business and Human Rights

By: Creamer Media Reporter      26th November 2018 The International Council on Mining and Metals (ICMM) on Monday committed its members to implement the United Nations (UN) Guiding Principles on Business and Human Rights.   Speaking at the UN Annual Forum on Business and Human Rights, ICMM CE Tom Butler announced the industry body's new... 

EU proposes new WTO reform to safeguard dispute settlement body

By: Bloomberg     26th November 2018 The European Union (EU) unveiled a new proposal that seeks to stave off paralysis of the World Trade Organisation’s (WTO's) dispute settlement system by unblocking the appointment of its appellate body members, according to a statement Monday. The proposal has the backing of Australia, Canada,... 

Saudi Arabia targets $64bn in mining revenue by 2030

By: Reuters     26th November 2018 Saudi Arabia aims to raise the kingdom's mining revenues to $64-billion from $17-billion by 2030, Energy Minister Khalid al-Falih said on Monday. Mining vast untapped reserves of bauxite, phosphate, gold, copper and uranium is key to the Saudi Arabia's efforts to diversify its economy away from... 

Zinc smelter bottlenecks propping up prices, for now

By: Reuters     23rd November 2018 An expected surge in refined zinc output after a clutch of new mine openings has been derailed by bottlenecks at smelters across Asia, putting the brakes on an eye-watering price fall. Benchmark zinc tumbled over 35% in the seven months to mid-September, with prices of the metal used mainly to... 

BASF makes low-nickel wager amid scramble for battery metals

By: Reuters     23rd November 2018 German chemicals giant BASF is betting on a new recipe for electric car batteries which stretches the time between charges while cutting dependence on nickel to help shave costs and grab more of a growing market. It is part of flurry of activity in the sphere of cathodes materials, a major... 

Saudi Arabia says new mining project to increase non-oil GDP by 3%

By: Reuters     23rd November 2018 Saudi Arabia's King Salman on Thursday inaugurated the Waad Al-Shamaal mining project, which is expected to boost the kingdom's gross domestic product by 24-billion riyals and its non-oil GDP by around 3%. The kingdom will invest 85 billion riyals in the project, a 440 km2 city for mining... 

Platinum’s stature growing as world’s clean air catalyst 

By: Martin Creamer     22nd November 2018 This month’s launch of the world’s first fuel cell double-decker bus is the latest example of platinum helping to power the world’s new clean air revolution. The fuel cell bus was developed as a part of the European Union-funded joint initiative for hydrogen vehicles, which make use of platinum,... 

Platinum’s stature growing as world’s clean air catalyst
First fuel cell double decker bus.

Doubts cast on plans for deluge of new nickel supply 

By: Reuters     21st November 2018 Expectations of a supply avalanche hitting the nickel market next year due to new capacity in Indonesia have sent prices to seven-month lows, but analysts doubt the plans spearheaded by Chinese firms can be carried out so quickly. Benchmark nickel on the London Metal Exchange nearing $11 000/t... 

Brazil, India to defy global slowdown of iron-ore production up to 2027

By: Marleny Arnoldi     21st November 2018 The global iron-ore market will stay well supplied up to 2027, supported by expanding output in Brazil and India, says Fitch Solutions’ Macro Research unit. Global iron-ore production will grow modestly from 3.36-billion tonnes to 3.41-billion tonnes by 2027, representing a yearly growth rate... 

World Diamond Council hopeful of Kimberley Process scope expansion in 2019

By: Marleny Arnoldi     21st November 2018 The World Diamond Council (WDC) has reiterated its support for the Kimberley Process (KP) certification scheme to end trade in conflict diamonds, while expressing concern over the progress in reforming its scope. In a press statement issued after the conclusion of the 2018 KP plenary meeting,... 

World Diamond Council hopeful of Kimberley Process scope expansion in 2019
World Diamond Council members at the Belgium KP plenary

Oil halts slide as signs of stockpile drop counter Opec doubts

By: Bloomberg     21st November 2018 Oil halted a slide near $54 a barrel as investors weighed industry data that showed US crude inventories unexpectedly fell last week against doubts over Opec’s plans to cut output. Futures in New York rose as much as 2%, after plunging more than 6% on Tuesday. The American Petroleum Institute was... 

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