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Asia News
Mopani transitions copper operations to care and maintenance 
By: Martin Creamer Updated 2 hours 27 minutes ago Copper mining company Mopani Copper Mines plc said on Tuesday that it had placed its mining operations on care and maintenance and a number of projects on hold. The announcement, the company said, followed a number of meetings with Zambian government ministries to provide an update of its... →
De Beers contributes $2.5m Covid-19 funding to Botswana, Namibia
By: Martin Creamer Updated 4 hours ago Diamond mining and marketing corporation, the De Beers Group, on Tuesday announced that it would contribute $2 500 000 across Botswana and Namibia to aid the response to the Covid-19 crisis. De Beers Group is a 50/50 joint venture partner with both Botswana and Namibia in the recovery and sorting... →
Gold Fields promoting widespread human welfare during lockdown
By: Martin Creamer Updated 4 hours ago Gold mining company Gold Fields, which has placed its South Deep gold mine in Gauteng on care and maintenance for the 21-day lockdown period, is promoting human welfare funding cross a number of fronts during the Covid-19 crisis. Firstly, South Deep, the Westonaria mine with a 70-year life, will... →
Gold Fields executive VP Martin Preece
The state of Chinese commodities shows recovery taking hold
By: Bloomberg Updated 5 hours ago From oil to copper to coal, China’s gigantic commodities industry is signaling that the first economy to be flattened by the coronavirus is getting closer to a return to normality. Bloomberg Economics estimates that most of China was 90% to 95% back to work at the end of last week, noting... →
Blackstone signs share deal with EcoPro
By: Esmarie Iannucci 7th April 2020 Junior Blackstone Minerals has inked a share purchase agreement with Korea’s largest nickel-rich cathode materials manufacturer EcoPro, which will result in a A$6.8-million investment into the ASX-listed company. Under the purchase agreement, EcoPro would acquire 40-million shares in Blackstone... →
Standard Bank notes SARB’s hold-back guidance on dividends, bonuses
By: Martin Creamer 7th April 2020 Africa’s biggest bank by assets, Standard Bank Group, said on Tuesday that it had noted the contents of the guidance of the Prudential Authority of the South African Reserve Bank (SARB) on dividend distributions to ordinary shareholders. SARB’s Prudential Authority, headed by Kuben Naidoo, has... →
Tailings risk management still not up to standard – foundation
By: Marleny Arnoldi 7th April 2020 The mining industry is still “dragging its heels” on the step-change measures required to prevent catastrophic tailings failures, such as the Brumadinho tailings dam collapse in Brazil that killed 270 people, says Responsible Mining Foundation (RMF). In the newly released 'Responsible Mining... →
Newcrest establishes Covid-19 fund
By: Esmarie Iannucci 7th April 2020 Gold miner Newcrest Mining has established a A$20-million community support fund to assist host communities during the Covid-19 pandemic. The miner on Tuesday said that a portion of the fund would go towards vaccine research, while around half of the fund will be dedicated to assisting Papua New... →
Covid-19 delays Wesizwe Platinum’s results
By: Martin Creamer 6th April 2020 Platinum group metals project developer Wesizwe Platinum has delayed the publication of its financial results for the year ended December 31. The Johannesburg-listed company put the reason for the delay down to South Africa’s Covid-19 lockdown, which required the Bakubung platinum mine project to... →
Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch
By: Simone Liedtke 6th April 2020 Owing to unprecedented lockdown in much of Europe, the US and across the globe, the world is currently experiencing considerably lower economic activity, which in turn significantly reduces commodity consumption, says ratings agency Fitch Ratings. As a result, it expects global gross domestic... →
Anglo going to great lengths to support South Africa in its Covid-19 hour of need
By: Martin Creamer 6th April 2020 Diversified mining company Anglo American is going to remarkable lengths to support South Africa through the devastating Covid-19 crisis. The London- and Johannesburg-listed company, headed by Australian Mark Cutifani, is showing far-reaching corporate humanitarianism by taking firm steps to... →
Mark Cutifani
Minister finds Covid-19 compliant mines but also laggards
By: Martin Creamer 6th April 2020 As calls go out for mining to resume on April 17 or face serious setback, Mineral Resources and Energy Minister Gwede Mantashe has found excellent Covid-19 compliance by some coal mines that have been allowed to stay open to supply coal to Eskom – but inadequate response to directives by others.... →
Mineral Resources and Energy Minister Gwede Mantashe
Eurasian Resources execs take 30% pay cut in support of Covid-19 measures
By: Marleny Arnoldi 6th April 2020 Global diversified miner Eurasian Resources Group (ERG) CEO Benedikt Sobotka and first deputy CEO Aldiyar Kaztayev have offered to take a 30% cut in their salaries for 12 months, owing to the unprecedented challenges that the world is facing as a result of Covid-19. The company is confident... →
M&R outlines evolving impact of Covid-19 disruptions to its projects
By: Marleny Arnoldi 3rd April 2020 JSE-listed Murray & Roberts (M&R) has noted the evolving impact of Covid-19 on its active projects in Australasia, the Americas and sub-Saharan Africa. The Oyu Tolgoi project in Mongolia, which the company’s Oil & Gas and Underground Mining platforms run in joint venture with a third partner,... →
DRD consulting with govt, labour to restart Far West Rand gold recoveries
By: Martin Creamer 3rd April 2020 Surface gold mining company DRDGold is considering re-starting operations at its Far West Gold Recoveries surface retreatment operation at Carletonville, south-west of Johannesburg, in consultation with government and organised labour. DRDGold CEO Niël Pretorius states on the company’s website... →
Niël Pretorius
Covid-19 hits silver to a ten-year-plus low
By: Martin Creamer 2nd April 2020 The coronavirus pandemic has hit silver to a ten-year-plus low, according to the Refinitiv GFMS annual Silver Market Review 2019, which includes provisional supply and demand estimates for 2020. After rising to a five-month high by late February, the silver price experienced a calamitous fall in... →
All Antofagasta mines to be powered by renewables at lower cost
By: Martin Creamer 1st April 2020 All of the electricity of the mining division of the London-listed Chile-based Antofagasta plc will from 2022 be from renewable sources at lower cost. This follows the signing by Antofagasta’s Centinela copper mine of a new power purchase agreement with Engie Energía Chile, effective from 2022... →
Central Asia Metals’ results demonstrate company’s ‘fundamental strength’
By: Simone Liedtke 1st April 2020 Copper, zinc and lead production and exploration company Central Asia Metals’ (CAML’s) results for the year ended December 31, demonstrate the “fundamental strength” of the business, which owns two low-cost base metals operations, one in Kazakhstan and the other in North Macedonia. CEO Nigel... →
Coal India mulls output cuts as inventories mount on virus fight
By: Bloomberg 1st April 2020 State-run Coal India is considering cutting output at some mines, aligning it with a steep drop in demand from power generators amid a countrywide lockdown, according to people with knowledge of the development. The Kolkata-based miner will focus on clearing inventories and reducing production... →
World’s top gold market freezes as Chinese shoppers stay away
By: Bloomberg 1st April 2020 The coronavirus pandemic has frozen the Chinese gold market, torpedoing demand at a time when investors elsewhere in the world are clamoring for the safety of bullion. China is the biggest buyer of gold bars, coins and jewelry, but the national shutdown to contain the virus has emptied malls,... →
Standard Bank meeting all capital and liquidity requirements
By: Martin Creamer 1st April 2020 Capital and liquidity requirements across all the markets in which it operates are continuing to be met, Standard Bank Group FD Dr Arno Daehnke said during an investor call. Daehnke disclosed that the bank was benefitting from building up increased capital levels over the last few years in line... →
GlobalData revises full-year copper output growth forecast lower
By: Simone Liedtke 1st April 2020 Global copper production is expected to be impacted by the Covid-19 pandemic, with data analytics and consulting company GlobalData now forecasting output growth of just 1.9% to 21-million tonnes for this year. This compares with its previous forecast of 3.4% year-on-year growth in global copper... →
Covid-19 prompts Glencore to defer cash distribution, reinforce liquidity
By: Martin Creamer 31st March 2020 The coronavirus pandemic has prompted global diversified mining and marketing company Glencore to defer its proposed $2.6-billion distribution of cash and reinforce its $10.1- billion liquidity through the refinancing and extension of revolving credit facilities on the same commercial terms as... →
Assore halts mines and smelters, prioritises on-time supplier payment
By: Martin Creamer 31st March 2020 Mining and marketing company Assore, which is delisting from the Johannesburg Stock Exchange after 70 years, on Tuesday informed its shareholders that it had taken lockdown steps following the increased incidents of COVID-19 in South Africa. Assmang, which is half owned by Assore and jointly... →
Charles Walters
Harmony Gold’s nine underground mines cease operations
By: Martin Creamer 31st March 2020 Mining has ceased at all of the nine underground gold mines of Harmony Gold but the Johannesburg- and New York-listed company’s surface retreatment operations and opencast mine will continue to function, collectively producing between 650 kg and 700 kg in the 21-day lockdown period in response to... →
Peter Steenkamp
Zinc miners expected to restart operations on strong prices
By: Natasha Odendaal 31st March 2020 Strong zinc prices are increasingly prompting miners to bring idled capacity back online and invest in new projects. The latest ‘Global Zinc Mining Outlook’ report shows that the return of some stalled capacity and new projects in key countries will drive growth over the coming quarters, despite... →
China iron ore futures pick up after factory activity unexpectedly expands
By: Reuters 31st March 2020 Chinese iron-ore futures picked up in early trade on Tuesday, rising more than 1% on demand hopes after the world's second-biggest economy reported an unexpected growth in its factory activities in March. China's official Purchasing Managers' Index (PMI) jumped to 52 this month from a record low... →
Gold Fields places South Deep mine on care and maintenance
By: Martin Creamer 31st March 2020 Johannesburg- and New York-listed gold mining company Gold Fields has placed its South Deep gold mine in Gauteng on care-and-maintenance to coincide with South Africa’s lockdown until April 16. In publishing its integrated annual report for 2019 and a number of associated reports on its website,... →
Nick Holland
Lynas halt extended
By: Esmarie Iannucci 31st March 2020 Rare earths miner Lynas on Tuesday said that operations at its plant in Malaysia would continue to remain suspended after the Malaysian government extended its Movement Control Order from March 31 to April 14. Lynas told shareholders that the company was continuously assessing the effects of the... →
Covid-19 causes considerable impact to Gemfields
By: Tasneem Bulbulia 30th March 2020 Gemstone miner Gemfields expects a significant detrimental impact on its operations, revenues and business during 2020 and possibly beyond from the Covid-19 pandemic. As of March 30, all but critical operations at the Kagem emerald mine, in Zambia, have been suspended for what the company hopes... →
Gold pauses after best week since 2008 as caution reigns
By: Bloomberg 30th March 2020 Gold edged lower after its best week since 2008 amid investor caution on policies aimed at mitigating the impact of the coronavirus pandemic. Bullion’s muted trading comes after the gold market was thrown into turmoil last week as the health crisis disrupted supply chains, creating a squeeze in... →
De Beers cancels third rough diamond sales cycle
By: Simone Liedtke 30th March 2020 Owing to public health restrictions on the movement of people and products in Botswana, South Africa and India, diamond miner De Beers will not hold its third rough diamond sales cycle of this year. As a result, De Beers is enabling sightholders to defer 100% of their Sight 3 allocations to later... →
Proudly South African hydrogen breakthrough with Shell’s backing
By: Martin Creamer 30th March 2020 At this time of huge coronavirus uncertainty, the chests of a group of engineers here must surely be bulging with pride following their major Proudly South African world breakthrough that could speed up the global deployment of hydrogen as a competitive universal and environmentally friendly... →
Hydrox Holdings membraneless electrolyser.
Fitch Solutions says volatility to continue driving metals prices lower
By: Simone Liedtke 30th March 2020 Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic. The agency notes that metal prices started the year on a strong footing as the... →
Mining could be enormous post-virus stabiliser – Minerals Council
By: Martin Creamer 29th March 2020 The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release. Post coronavirus, South Africa would... →
ARM, Motsepe family play key roles in R1bn coronavirus pledge
By: Martin Creamer 28th March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) and the Motsepe family on Saturday formed the key part of the partnership of companies and organisations that have pledged R1 billion to assist with the current coronavirus (Covid-19) pandemic... →
Dr Patrice Motsepe and Dr Precious Moloi-Motsepe at Saturday's remote media conference using the Internet to ensure social distance.
Vedanta CEO Venkatakrishnan resigns
By: Reuters 27th March 2020 Diversified miner Vedanta said on Friday CEO S Venkatakrishnan has resigned due to personal reasons, less than two years after he took the helm. Sunil Duggal, current head of Vedanta unit Hindustan Zinc, will take over as interim CEO. Venkatakrishnan, who was previously CEO of South African... →
Mitsubishi unpacks movement of PGM markets amid lockdowns
By: Marleny Arnoldi 27th March 2020 Mitsubishi Corporation International (MCI) says in its latest precious metals update that it expects South Africa’s platinum supply to reduce by around 7%, or by between 200 000 oz and 300 000 oz, in light of closed operations during South Africa’s 21-day national lockdown. The announcement by... →
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