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Asia News
Air Products and thyssenkrupp sign green hydrogen agreement
By: Schalk Burger Updated 3 hours ago NYSE-listed industrial gases multinational Air Products and industrial technology multinational thyssenkrupp on July 5 announced that they had signed an exclusive strategic cooperation agreement to develop world-scale electrolysis plants to generate green hydrogen. The two companies will... →
Third-quarter ferrochrome benchmark price rolls over at $1.14/lb
By: Martin Creamer Updated 3 hours ago The European benchmark ferrochrome price for the third quarter of 2020 has been settled at $1.14/lb, a rollover from the second quarter of 2020, JSE-listed Merafe Resources advised shareholders on Monday. This price remains an increase of 12.9% on the first-quarter price of $1.01/lb. →
Lion ferrochrome.
Copper poised to maintain upward price trajectory, says ERG CEO
By: Simone Liedtke Updated 4 hours ago Diversified miner Eurasian Resources Group (ERG) says the unprecedented levels of stimulus across the world are set to sustain the recovery in copper demand in the longer term, with the supply impact of the Covid-19 pandemic expected to extend beyond this year. Growth drivers include the digital... →
Indonesia says trade, investment deal with Australia takes effect
By: Reuters 6th July 2020 An Indonesia-Australia deal that eliminates most trade tariffs between the two nations and aims to open up investment, took effect on Sunday, Indonesia's Trade Ministry said. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), signed last year and ratified by the... →
Mitsui Mining resumes operation of Peru's zinc mines
By: Reuters 6th July 2020 Japan's Mitsui Mining and Smelting said on Monday its two zinc mines in Peru resumed operations on July 2 after a closure of more than three months to limit the spread of the novel coronavirus. The company's Huanzala and Palka mines had been suspended since March 16 after the local government... →
Displacement continuing at copper mine where openpit give way is imminent 
By: Martin Creamer 6th July 2020 Vertical and horizontal displacement is continuing at the Nchanga Open Pit Cut 2 in Chingola in Zambia, where geo-technical assessments point to an imminent collapse of a portion of the open pit – but the anticipated slough had not happened by late Sunday when Mining Weekly spoke by phone to... →
Konkola Copper Mines CEO Chris Sheppard.
Epiroc aims to halve carbon dioxide emissions in operations as part of 2030 goals
By: Schalk Burger 3rd July 2020 Mining and infrastructure equipment multinational Epiroc this week released its 2030 sustainability goals, which include halving carbon dioxide emissions from operations, transport and major suppliers, as well as from customers’ use of Epiroc equipment. "These are challenging targets, but we will... →
Reliable connectivity essential for effective IoT
By: Schalk Burger 3rd July 2020 A global study conducted by satellite communications multinational Inmarsat found that only 15% of mining organisations consistently have access to reliable connectivity for their Internet of Things- (IoT-) enabled projects. Inmarsat’s research programme into IoT trends 'The Rise of IoT in... →
Moon metals discovery aids development of lunar formation theories
By: Rebecca Campbell 3rd July 2020 Scientists using data from the US National Aeronautics and Space Administration’s (Nasa’s) Lunar Reconnaissance Orbiter (LRO) spacecraft have discovered evidence that the Moon might, underneath its surface, be richer in metals (such as iron and titanium) than had previously been believed. Nasa is... →
Reopening of economies boosting metals prices
By: Marleny Arnoldi 3rd July 2020 Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... →
Turquoise Hill to defer any interim funding talks on Mongolian mine with Rio Tinto
By: Reuters 3rd July 2020 Turquoise Hill Resources Ltd said on Thursday it has decided to defer further discussions on any interim funding arrangements with Rio Tinto for its Mongolian copper project. The Mongolian state owns 34% in the Oyu Tolgoi copper project, while Rio's majority-owned Turquoise Hill has a 66% stake. →
Death toll rises above 160 in Myanmar jade mine collapse
By: Reuters 3rd July 2020 The death toll in a landslide at a jade mine in northern Myanmar has risen above 160, with more feared dead, authorities said on Friday, as search efforts continued for a second day. A heap of mining waste collapsed into a lake on Thursday and buried many workers under mud and water. →
Cost blow-outs and delays confirmed at Oyu Tolgoi
By: Esmarie Iannucci 3rd July 2020 Mining major Rio Tinto on Friday confirmed a cost blow-out of between $1.3-billion and $1.8-billion at the Oyu Tolgoi copper project, in Mongolia, compared with the original $5.3-billion capital estimates. Meanwhile, first sustainable production has been delayed by between 21 and 29 months... →
Covid kills 13 mineworkers, no foreigners back at work 
By: Martin Creamer 2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... →
Mining will need long-term strategies to survive new normal
By: Simone Liedtke 2nd July 2020 For the mining industry to be successful post-Covid-19, the industry will require long-term strategies to deal with its challenges, which includes the pandemic. In a webinar hosted by the London Bullion Market Association (LBMA) on July 2, investment management firm Orion Resource Partners... →
China's Chalco shuts down 10% of its alumina capacity
By: Reuters 2nd July 2020 Aluminum Corp of China, known as Chalco, said on Thursday it would implement "flexible production", a phrase used to refer to output cuts, at three alumina production lines accounting for about 10% of its total capacity. Chalco is the world's biggest supplier of alumina, the substance used to... →
Hydrogen-powered aviation preparing for takeoff – study
By: Martin Creamer 2nd July 2020 Hydrogen as an energy source will play a key role in transforming aviation into a zero-carbon/climate-neutral system over the next few decades, an independent study states in estimating that the first short-range hydrogen-powered demonstrator could be developed by 2028 if sufficient investments... →
At least 113 killed as Myanmar jade mine collapse buries workers
By: Reuters 2nd July 2020 A landslide at a jade mine in northern Myanmar killed at least 113 people, with more feared dead, authorities said on Thursday, after a heap of mining waste collapsed into a lake, triggering a wave of mud and water that buried many workers. The miners were collecting stones in the jade-rich... →
Commodity freighters are shrugging off Covid-19. For now
By: Bloomberg 1st July 2020 The cost of moving commodities like coal and iron-ore across the world’s oceans is surging as China lifts cargo purchases. Whether the rally will withstand the economic aftershocks of the coronavirus is a thornier question. Rates for giant capesize ships climbed to almost $31 000 a day on... →
ELB’s delisting-linked offers send up share price
By: Martin Creamer 1st July 2020 The board of directors of ELB on Wednesday made delisting-linked offer to its shareholders, which saw its share price rise. By late afternoon, the JSE-listed company’s price had risen by 54.17% to R1.85 a share. The capital equipment and engineering solutions group proposed a transaction to... →
Gamsberg zinc mine project in the Northern Cape, where ELB Engineering Services was active.
Bullion platinum investment at an all-time high, says WPIC
By: Marleny Arnoldi 1st July 2020 The World Platinum Investment Council (WPIC) reports that sales of platinum bullion products – retail bars and coins – surged to record highs in the first quarter of the year, with purchases totalling 312 000 oz. Annualised, this represents a rate that is five times higher than that experienced... →
After taking out $1 800, gold investors focus on Fed’s next step
By: Bloomberg 1st July 2020 Fresh from cracking $1 800/pz, the global gold market wants to know what the Federal Reserve may do next to rescue the US economy, with minutes due later on Wednesday that may shed light on the central bank’s willingness to embrace yield curve control. Futures held near the highest in more than... →
Platinum group metals in pole position to benefit from global decarbonisation thrust
By: Martin Creamer 1st July 2020 Platinum group metals are in pole position to benefit from the fast-growing global decarbonisation momentum, Mining Weekly can today report. A multiplicity of global announcements are emerging daily that inextricably link platinum-catalysed hydrogen fuel cells as well as platinum-catalysed... →
Gold climbs above $1 800 for the first time since 2011
By: Bloomberg 30th June 2020 Gold futures rose above $1 800/oz for the first time in eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven. The metal is heading for its best quarter since early 2016, benefiting from economic stimulus from the Federal Reserve and other... →
Environmental groups propose tailings dam safety standards
By: Reuters 30th June 2020 Mining companies should be required to buy private insurance for tailings dams and their board of directors should be held legally responsible for any disasters, a coalition of 140 environmental groups said in a report published on Tuesday. The recommendations, which differ from standards to be... →
Pleasantly surprised by productivity during lockdown – Babcock Ntuthuko Engineering
By: Martin Creamer 30th June 2020 Engineering company Babcock Ntuthuko Engineering has been pleasantly surprised by the productivity and agility that the lockdown has afforded it as an engineering house engaged in the energy sector. Babcock Ntuthuko Engineering’s major industrial clients include State electricity utility Eskom... →
Copper heads for best quarter since 2010 as supply worries mount
By: Bloomberg 29th June 2020 Copper is poised for its best quarter since 2010, helped by optimism over a stronger-than-expected demand rebound in top consumer China and mounting supply concerns in South America. The metal used in everything from automobiles to electronics has surged 21% this quarter, and climbed above $6... →
Increased continued loan support for Orion confirmed
By: Martin Creamer 29th June 2020 Private equity group Tembo Capital Mining Fund II LP on Monday confirmed its increased continued support of Orion Minerals through a loan facility boost. The Sydney- and Johannesburg-listed Orion is developing the Prieska copper-and-zinc project in the Northern Cape. →
Awak Mas to deliver more ounces
By: Esmarie Iannucci 29th June 2020 The economics of the Awak Mas gold project, in Indonesia, have been significantly improved following an updated to the project’s mineral resource estimate and ore reserve. ASX-listed Nusantara Resources on Monday revealed that on the back of the increased resource and reserve estimate, the... →
Oyu Tolgoi power deal signed
By: Esmarie Iannucci 29th June 2020 The government of Mongolia and copper miner Turquoise Hill have reached an agreement on the preferred domestic power solution for the Oyu Tolgoi copper project, paving the way for the government to fund and construct a state owned power plant at Tavan Tolgoi. The agreement, which is a revision... →
Moody’s says hope for base metals demand recovery lies largely in China
By: Marleny Arnoldi 26th June 2020 Ratings agency Moody’s Investors Service says the Covid-19 pandemic has caused significant deterioration in economic indicators and global growth forecasts, while hurting base metals demand. The agency says purchasing managers’ indexes (PMIs) in May remained in a severe contraction, with the US... →
IGF releases fourth ‘Guidance for Governments’ report
By: Simone Liedtke 26th June 2020 The Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) has released its newest Guidance for Governments report, titled 'Improving Legal Frameworks for Environmental- and Social-Impact Assessment and Management. IGF outreach manager and law adviser Clémence Naré... →
Shrinking aerospace demand to keep pressure on cobalt prices
By: Reuters 26th June 2020 Cobalt prices are at ten-month lows due to sagging demand from the electric vehicle and aerospace sectors amid the Covid-19 pandemic and look likely to slide further as airlines defer maintenance. Airlines such as Australia's Qantas, Qatar Airways and Singapore Airlines are looking to defer... →
SA Inc must act now to take ownership of battery metals value chain – Bushveld
By: Martin Creamer 26th June 2020 Bold action is needed by South Africa Inc to take ownership of the significant potential share of the global battery metals market open to it, says Bushveld Minerals CEO Fortune Mojapelo. Speaking to Mining Weekly following this week’s presentation by the company of solid 2019 financial results... →
Anglo American calls for cooperative response in trying times
By: Schalk Burger 25th June 2020 Diversified miner Anglo American CE Mark Cutifani has called for a society-wide response to the global Covid-19 crisis and says the miner is committed to global tax and the Extractive Industries Transparency Initiative (EITI). In its Tax and Economic Contribution report for the year ended... →
China became second-largest platinum consumer in just three years
By: Marleny Arnoldi 25th June 2020 The World Platinum Investment Council (WPIC) says that, although platinum as an investment product in China is still a relative newcomer, it remains one with enormous potential. WPIC regional head for Asia Pacific Weibin Deng says China is the second-largest market for platinum consumption in... →
Six mineworkers die from Covid-19 – Minerals Council
By: Martin Creamer 25th June 2020 Six mineworkers have succumbed to coronavirus since the start of the pandemic, Minerals Council South Africa said on Thursday. Back at work so far and screened daily are 272 770 mineworkers, on which 16 994 tests have been conducted, yielding 1 796 positive Covid cases and 666 recoveries,... →
Infrastructure investment, China & the hydrogen economy make headlines
25th June 2020 Mining Weekly Editor Martin Creamer unpacks the need for SA to invest more in productive infrastructure to boost the economy, China becoming a net importer of vanadium and how Covid-19 could be catalyst for the hydrogen economy to take off. →
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