R/€ = 16.83 Change: 0.11
R/$ = 14.51 Change: 0.10
Au 1767.59 $/oz Change: -26.33
Pt 1059.00 $/oz Change: 30.00

Popular This Week

Creecy says a climate finance breakthrough is key to COP26 success 

By: Terence Creamer     15th October 2021 South Africa’s Forestry, Fisheries and the Environment Minister Barbara Creecy says a breakthrough is needed at COP26 on the issue of climate finance, warning that the failure of developed countries to honour their $100-billion-a-year commitments has led a breakdown of trust. Addressing a virtual... 

South Africa’s Forestry, Fisheries and the Environment Minister Barbara Creecy
South Africa’s Forestry, Fisheries and the Environment Minister Barbara Creecy

Eskom seeks urgent court order to have 2022/23 tariff application adjudicated by Nersa 

By: Terence Creamer     15th October 2021 State-owned electricity utility Eskom has approached the Gauteng High Court to have the regulator’s recent decision to reject its revenue application for the period 2022/23 to 2024/25 set aside for being “patently irrational and unlawful”. Eskom approached the court this week for a review of the... 

Eskom CFO Calib Cassim, who deposed the  founding affidavit, speaking at a previous Nersa hearing
Photo by Creamer Media Chief Photographer Donna Slater
Eskom CFO Calib Cassim, who deposed the founding affidavit, speaking at a previous Nersa hearing

Opinion: Combatting climate change with green energy solutions for Africa

15th October 2021 In this opinion article, Standard Bank head of sustainable finance, wholesale clients Greg Fyfe and head of power, wholesale clients Rentia van Tonder write that Africa has no choice but to join the global drive toward limiting greenhouse-gas emissions; however, the continent must facilitate a... 

A photo of Greg Fyfe
Greg Fyfe

Nornickel slashes forecast for palladium market deficit

By: Reuters     11th October 2021 Russia's Nornickel, the world's largest producer of palladium, has cut its deficit estimate for the global palladium market this year and next year due to the flagging recovery of the auto sector, a senior executive told Reuters. Global demand for palladium has weakened because automakers, which... 

Harmony re-engineering portfolio, deleveraging balance sheet, creating optionality – Coetzer 

By: Martin Creamer     13th October 2021 Harmony Gold is at a very exciting point as it pivots in a new portfolio-enhancing direction and sheds costs at the same time, says Harmony investor relations head Jared Coetzer. “That little paragraph that we came up with about reengineering our portfolio and deleveraging our balance sheet to... 

Picture of Jared Coetzer supplied.
Harmony Gold investor relations head Jared Coetzer.

Market recognising higher likelihood of platinum deficit than surplus in years ahead – WPIC  

By: Martin Creamer     14th October 2021 Right now, the market is recognising the higher likelihood of platinum being in deficit rather than in surplus in the mid-term years ahead, said World Platinum Investment Council research director Trevor Raymond on Thursday. Raymond expects pent-up up consumer demand for vehicles to reduce any... 

Picture of Trevor Raymond supplied by WPIC

Mining boom papering over serious structural issues – Nedbank's Mpofu  

By: Martin Creamer     11th October 2021 South Africa’s current mining boom is papering over some very serious structural issues that underlie the mining industry as a whole. “Chief amongst those is the slowdown if not disappearance of investment in future capacity, a trend we’ve been seeing for the past ten years,” said Nedbank mining... 

Supplied picture of Nedbank mining lead Mpofu

Billionaire miner sees next fortune in rush for clean energy

By: Bloomberg     14th October 2021 It took Andrew Forrest a little over a decade to build an iron-ore empire to challenge the global majors. Now he’s set himself an equally ambitious timeline to create a global powerhouse in clean energy. The Perth-based billionaire, widely known as “Twiggy” in Australia, has been scouring the... 

An image of Andrew Forrest
Australian mining billionaire Andrew Forrest

Big miners reconsider Congo, Zambia risks as copper price surges

By: Reuters     14th October 2021 Major mining companies are looking to invest in countries they previously considered too risky, including Democratic Republic of Congo and Zambia, propelled by a dwindling pipeline of big copper mines elsewhere and record-high prices. Investor wariness about uncertain regulatory environments,... 

An image of Tenke Fungurume in the DRC

Lithium viability in EV batteries being challenged by high prices

By: Donna Slater     11th October 2021 With lithium prices surpassing their 2018 peak, the increased cost of products the commodity goes into will be passed onto electric vehicle (EV) manufacturers and not necessarily battery cell manufacturers, thereby potentially leading to a cost increase in EVs in the near future, said Benchmark... 

Sibanye tests viability of underground hydroelectric storage

By: Marleny Arnoldi     13th October 2021 JSE-listed precious metals miner Sibanye-Stillwater has been named as the client for which Thyssenkrupp Uhde Africa is undertaking an underground pumped energy storage prefeasibility study (PFS). Thyssenkrupp earlier this month reported that it had been appointed to undertake the study in... 

Exploration key to keeping South Africa on right side of future – investors 

By: Martin Creamer     11th October 2021 Exploration is key to keeping South Africa on the right side of the future-facing metals scenario, the Joburg Indaba heard last week from potential investors. During a panel discussion on mining sector prospects covered by Mining Weekly, the heads of international investment companies commented... 

Creamer Media screenshot of panel discussion at Joburg Indaba in October 2021
Photo by Creamer Media
Form top left clockwise are Fiona Perrott-Humphrey, Olivia Markham, Brett Beatty, Bernard Swanepoel and Mick McMullen.

Norsk Hydro CEO says uneven competition on CO2 cost threatens green transition

By: Reuters     11th October 2021 The green transition is under threat unless governments can level the playing field between metal producers who are forced to pay offset costs for their emissions and those who are not, the CEO of aluminium maker Norsk Hydro said on Monday. "Some are subject to the world's most ambitious climate... 

An image of the Alunorte alumina refinery
The Alunorte alumina refinery, in Brazil

Mantashe opposes coal ban for climate aid

By: Bloomberg     14th October 2021 Rich nations shouldn’t force South Africa to ban new coal-power projects and impose other conditions as a requirement for funding to help reduce its environmental footprint, the country’s energy minister said. Gwede Mantashe last month skipped a meeting with climate envoys from the UK, US,... 

A photo of Gwede Mantashe
Mineral Resources and Energy Minister Gwede Mantashe

Aluminium hits highest since 2008 as power shortages escalate

By: Reuters     11th October 2021 Aluminium prices rose on Monday to their highest since 2008 due to increases in costs of energy and raw materials used to make the metal and output cuts by the biggest producer, China. China's production, already curbed by a government anti-pollution drive, has been further hit by power... 

Aluminium hits highest since 2008 as power shortages escalate

Europe's carmakers face raw material bottleneck for EV batteries

By: Reuters     13th October 2021 Major carmakers like Volkswagen, Daimler and Stellantis have been racing to secure battery cell supplies in Europe, but may face a bigger challenge as they seek to go electric - finding enough battery raw materials. Failure to obtain adequate supplies of lithium, nickel, manganese or cobalt... 

South32 spends big on Chile copper mine

By: Esmarie Iannucci     14th October 2021 Diversified miner South32 on Thursday announced that it would spend $1.55-billion to acquire a 45% interest in the Sierra Gorda copper mine in Chile. The company has entered into two binding conditional agreements with Sumitomo Metal Mining and Sumitomo Corporation for the acquisition of a 45%... 

Image of South32 CEO Graham Kerr
South32 CEO Graham Kerr

Iron-ore tumbles as China steel curbs are back in focus

By: Reuters     12th October 2021 Iron-ore futures were under pressure on Tuesday, with the Singapore benchmark retreating nearly 7% after a four-day rally and Dalian contracts erasing early gains, as investor focus shifted back to steel production controls in China. The steelmaking raw material's most-active November contract on... 

US coal use is rebounding under Biden like it never did with Trump

By: Bloomberg     13th October 2021 Donald Trump vowed to revive the coal industry, but it’s President Joe Biden who’s seeing a big comeback of the dirtiest fossil fuel. US power plants are on track to burn 23% more coal this year, the first increase since 2013, despite Biden’s ambitious plan to eliminate carbon emissions from the... 

Image of US President Joe Biden
US President Joe Biden

Zinc hits fresh peaks as Nyrstar slashes output due to power prices

By: Reuters     13th October 2021 Zinc and aluminium prices stormed to fresh peaks on Wednesday as a power crisis sparked cuts in smelter output. Zinc touched a near 14-year high in Shanghai while in London they jumped the strongest in over three-and-a-half years after Nyrstar said it will cut production by up to 50% at its... 

Hydrogen fuel cell has inexhaustible future, says Fortescue’s Andrew Forrest 

By: Martin Creamer     15th October 2021 The hydrogen fuel cell has an inexhaustible future as a means of maintaining the planet’s high standard of living, said Fortescue Metals Group chairperson Andrew Forrest during a global online symposium this week. “Our little planet’s cooking, the world’s impatient and there’s any amount of... 

screenshot taken by Creamer Media during Plug Power symposium
Photo by Creamer Media
Plug Power CEO Andy Marsh (left) and Fortescue Metals Group chairperson Andrew Forrest (right)

BHP not averse to new jurisdictions - Henry

By: Esmarie Iannucci     11th October 2021 Diversified miner BHP would not be averse to entering new jurisdictions in its hunt for resources, and could make a return to Africa, CEO Mike Henry has said. In an interview with the Financial Times, Henry noted that in its hunt for future facing commodities, BHP would need to find more... 

An image of BHP CEO Mike Henry
BHP CEO Mike Henry

South Africa needs to ramp up critical minerals exploration as world decarbonises - study 

By: Terence Creamer     13th October 2021 The South African mining sector can remain internationally competitive and support socioeconomic development only if it drives decarbonisation and adapts to the global shift in commodity demand towards minerals used in green sectors such as renewable electricity and electric vehicles (EVs), a new... 

A photo of an iron-ore stockpile

New Caledonia's Prony to supply nickel to Tesla in multi-year deal

By: Reuters     13th October 2021 Prony Resources said on Wednesday Tesla had agreed to purchase around 42 000 t of nickel in a multi-year deal - a pact that is set to make the New Caledonian miner a key supplier of the metal to the US electric car maker. Prony, which bought the loss-making nickel operations in the French... 

An image of Prony's New Caledonian nickel operations
Prony's New Caledonian nickel operations

Company establishes green rare earth fluoride manufacturing plant based on Necsa intellectual property 

By: Donna Slater     14th October 2021 Over the past two years, Pretoria-based rare earth (RE) minerals refinery Rare Earth Refiners (RER) has designed, built and commissioned a demonstration plant for the green production of RE fluorides using a R15-million grant from the Technology Innovation Agency (TIA). REs, and especially... 

An image of the rare earth fluoride production machine based on intellectual property developed by the South African Nuclear Energy Corporation
The rare earth fluoride production machine based on intellectual property developed by the South African Nuclear Energy Corporation

Zijin Mining makes C$960m all-cash offer for Neo Lithium Corp

By: Creamer Media Reporter      10th October 2021 Chinese multinational Zijin Mining Group has made an all-cash offer to buy out TSX-listed Neo Lithium Corp for C$6.50 a share, or about C$960-million. Neo Lithium holds a 100% interest in the 3Q lithium brine lake project in Argentina. The project comprises 13 mining claims over a 353 km2 area. 

FFI unveils massive hydrogen project in Qld

By: Esmarie Iannucci     11th October 2021 Iron-ore major Fortescue Metals’ green energy arm Fortescue Future Industries (FFI) on Monday announced the construction of the world’s largest electrolyser, renewable industry and equipment manufacturing centre at Gladstone, Queensland. FFI’s Global Green Energy Manufacturing centre (GEM) will... 

Image shows a hydrogen storage tank and wind turbines

Glencore's Peru mine says won't proceed with Coroccohuayco project in near-term

By: Reuters     11th October 2021 Glencore's Antapaccay copper mine in Peru said on Thursday that it does not plan to execute this year or next its Coroccohuayco project that has caused nearby residents to protest and block the road used to transport its copper. Residents are protesting the mine's environmental impacts on the... 

Newcrest prices growth plans for next decade

By: Esmarie Iannucci     12th October 2021 Gold miner Newcrest Mining could spend some A$4-billion on organic growth projects by 2030, in Canada, Australia and Papua New Guinea (PNG). The miner on Tuesday announced the results of prefeasibility studies (PFS) into its Red Chris, Havieron and Lihir Phase 14A projects, after in August... 

Image shows mining operations at the Lihir mine, in PNG

Pan African well positioned as solid-margin extended-life gold producer  

By: Martin Creamer     12th October 2021 Midtier South African gold mining company Pan African is building two schools for its communities, has handed over a clinic in Barberton, is planning to embed 35 MW of renewable energy, is constructing a water retreatment plant that will pretty much eliminate the use of potable water at Evander,... 

Supplied picture of Cobus Loots

Metals trader Concord eyes possible IPO in 2022 on resources boom

By: Bloomberg     11th October 2021 Concord Resources, a trading house set up six years ago to challenge the dominance of Glencore and Trafigura Group in metals markets, may list its shares as soon as next year. The private equity-backed company has long viewed an initial public offering as a logical step, and believes 2022 may be... 

An image of copper production at Ural

Barrick commissions Africa’s first PhotonAssay laboratory

By: Creamer Media Reporter      11th October 2021 Gold major Barrick Gold Corporation has, in partnership with MSALABS, successfully installed a Chrysos PhotonAssay laboratory at its Bulyanhulu mine, in Tanzania. This is the first PhotonAssay laboratory in Africa and the first to be installed by Barrick. 

A photo of Chrysos Corporation's PhotonAssay laboratory
A Chrysos PhotonAssay laboratory has been installed at Barrick Gold's Bulyanhulue mine in Tanzania

Platinum benefits from higher demand in glass industry

By: Marleny Arnoldi     13th October 2021 The World Platinum Investment Council’s (WPIC’s) latest forecast anticipates a 69% growth in demand for platinum from the glass industry, rising to 658 000 oz this year, compared with 391 000 oz in 2020. As a proportion of overall industrial demand for platinum, glass is set to contribute 9%... 

Lithium deal shows China's accelerating race for battery metals

By: Bloomberg     12th October 2021 Lithium has gotten so hot that even China’s gold miners want a slice of the market, sky high valuations and all. Zijin Mining Group, a major Chinese gold and copper producer, announced on Friday its first foray into the booming lithium sector with its C$960-million ($770-million) purchase of Neo... 

Barrick’s North American production trending at lower end of guidance

By: Mariaan Webb     14th October 2021 Miner Barrick Gold said on Thursday that it remained on track to achieve its 4.4-million to 4.7-million-ounce production target for the year, with all regions, except for North America, trending at the higher end of their regional guidance. North America’s gold output, however, was trending at... 

Barrick's Hemlo mine, in Canada.
Barrick's Hemlo mine, in Canada.

Namdeb to extend land-based operations' mine life to 2042

By: Creamer Media Reporter      14th October 2021 Namdeb Diamond Corporation, a 50:50 joint venture between De Beers Group and the government of Namibia, have approved a new long-term business plan that will extend the current life-of-mine of its land-based operations as far as 2042. Under the previous business plan, the land-based Namdeb... 

A photo of materials handling equipment at Namdeb's land-based operations


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