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Asia News
'Deeds, not words': mining firms reshape boardrooms as investors demand sustainability
By: Reuters Updated 2 hours ago Under fire after a string of high-profile disasters, mining firms are shaking up their boardrooms in response to criticism that they are failing to meet their own environmental, social, and governance standards. Shareholders are demanding change from an industry whose reputation has been... →
Glencore signs MoU with Chinese company for carbon capture tech 
By: Tasneem Bulbulia 12th April 2021 The China Huaneng Group Clean Energy Research Institute and diversified miner Glencore have signed a memorandum of understanding (MoU) to cooperate on carbon capture use and storage (CCUS) technology, starting with Glencore’s Carbon Capture Transport and Storage Company (CTSCo) project at the... →
Weekly Coal Index Report
12th April 2021 As Anglo Coal forges ahead with listing Thungela Resources, Exxaro has sold its central block operations (Forzando, Dorstfontein) to Overlooked Coal. However, the mining houses are holding onto their coal export allocation, indicating that coal trading and marketing remains a key advantage for... →
Reality check for copper bulls as Chinese demand growth slows
By: Reuters 12th April 2021 Copper long speculators are at risk of a price pull-back due to a delayed pick up in Chinese demand in its traditionally strong industrial consumption season in the second quarter. Bullish investors, who poured money into copper eyeing a commodity super-cycle, have already reduced exposure amid... →
Price rebound, Covid-19 curbs put brakes on India buying
By: Reuters 9th April 2021 Physical gold demand in India stalled this week after local prices rebounded from a one-year trough and coronavirus restrictions were imposed, while buyers in other major Asian hubs were also put off by an uptick in prices. "This week gold prices rose in the international market and rupee also... →
Coal's share in India's power mix hits highest in over 2 years
By: Reuters 9th April 2021 Coal's share in India's electricity generation rose to the highest level in at least nine quarters during the first three months of 2021, government data showed, reversing a trend of renewable energy gaining at coal's expense. The share of renewable energy rose in 2020 when overall power demand... →
Coal production from top mining companies to increase in 2021, says GlobalData
By: Tasneem Bulbulia 9th April 2021 Coal production from the top world's ten mining companies fell from a collective 1.70-million tonnes in 2019 to 1.63-million tonnes in 2020, which is a 4.2% decline. The most significant declines were observed from Arch Resources (28.6%), PT Bumi (24.9%), Glencore (23.9%) and Peabody (21.8%),... →
Barrick reaches Porgera deal, PNG to have majority stake
By: Mariaan Webb 9th April 2021 The Porgera gold mine is on track to reopen later this year, bullion major Barrick confirmed on Friday, announcing that a new binding framework had been agreed with Papua New Guinea (PNG). Under the terms of the agreement, signed in Port Moresby by Governor General Sir Bob Dadae and Barrick... →
Barrick to sign pact on Friday to reopen Papua New Guinea gold mine
By: Reuters 9th April 2021 A signing ceremony is set for Friday on a deal to reopen the Porgera gold mine in Papua New Guinea, a spokesman for the joint venture between Barrick Gold and China's Zijin Mining told Reuters. The mine has been shut for a year after a dispute over the terms of benefit-sharing between the... →
Coal output poised for growth this year after 2% fall in 2020
By: Marleny Arnoldi 8th April 2021 Research agency GlobalData expects global coal output to have declined by 2% in 2020 owing to Covid-19-related lockdowns and restrictions. Notably, significant reductions have been observed in the US at 23.6%, Indonesia at 13.1%, Russia at 8.1% and Australia at 5.5%. →
Coal's share in India's power mix hits highest in over 2 years
By: Reuters 8th April 2021 Coal's share in India's electricity generation rose to the highest level in at least nine quarters during the first three months of 2021, government data showed, reversing a trend of renewable energy gaining at coal's expense. The share of renewable energy rose in 2020 when overall power demand... →
Anglo American to demerge South African thermal coal assets
By: Martin Creamer 8th April 2021 Diversified mining and marketing company Anglo American is to demerge its South Africa thermal coal operations, the company said on Thursday. The demerger is subject to the approval of Anglo’s shareholders on May 5. Anglo American Coal South Africa CEO and World Coal Association chairperson July... →
Value of iridium in electrolysis could top R90bn mark in years ahead – HySA
By: Martin Creamer 7th April 2021 The value of iridium for proton exchange membrane (PEM) water electrolysis technology alone could exceed R90-billion in the next ten to 20 years. This is the view of Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of Competence: Hydrogen... →
Greenpeace stages Pacific Ocean protest against deep-sea mining
By: Reuters 6th April 2021 Greenpeace protested against deep-sea mining in the Pacific on Monday, with the environmental organisation's Rainbow Warrior boat trailing a ship doing research for DeepGreen, a company which plans to mine the seabed for battery metals. Greenpeace activists were pictured in rubber dinghies... →
Canadian underground mining likely to take hydrogen ventilation lead – HySA
By: Martin Creamer 6th April 2021 Canadian and Australian mines are big on wanting hydrogen ventilation in underground mining operations, and Canada will likely lead in the use of hydrogen underground. This is the view of Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of... →
Agreement on Porgera reopening imminent
By: Mariaan Webb 6th April 2021 Global bullion major Barrick is hopeful that Porgera mine – which has been shut for about a year now – will reopen soon. Citing a statement from Papua New Guinea Prime Minister James Marape, Barrick said on Monday that an agreement to reopen the mine was “imminent”. The agreement, the miner... →
How South Africa can unlock its exploration potential – Adrian Reynolds 
By: Martin Creamer 1st April 2021 Of four factors required to attract investment in exploration, economic and fiscal stability is the most important, says highly experienced geological and mining consultant and nonexecutive company director Adrian Reynolds. Reynolds spoke to Mining Weekly in a Zoom interview about the factors... →
Rio Tinto’s next chair must navigate between China and Australia
By: Bloomberg 1st April 2021 It could be the toughest job in mining. Whoever replaces Simon Thompson as chairperson of Rio Tinto Group will face a raft of complex and problematic global issues -- not least relations with its biggest customer and shareholder, China. Thompson in March announced plans to step down at next... →
Australian court orders Tianqi Lithium to pay $29m to court fund
By: Reuters 1st April 2021 An Australian court on Thursday ordered China's Tianqi Lithium to pay A$38.9-million ($29.43-million) into a court fund, as the firm appeals a disputed payment for the building of a battery-grade lithium processing plant in Western Australia. Tianqi, one of the world's biggest producers of... →
Top nickel miner Vale turns page on 14-year New Caledonia foray
By: Bloomberg 1st April 2021 Vale, the biggest producer of mined nickel, closed a deal to divest its underperforming New Caledonian mine to a group that includes the operation’s managers and workers. The divestment will allow operations to continue and gives Vale the right to a portion of output amid growing demand for the... →
Agarwal’s Vedanta plans to build new $1.4bn copper plant
By: Bloomberg 31st March 2021 Anil Agarwal’s Vedanta is scouting for locations to set up a new copper smelter in India as its plant in the southern state of Tamil Nadu has remained shuttered for close to three years. The Mumbai-based company is seeking expressions of interest from state governments of coastal Indian states... →
Anglo collaborating on feasibility study for South Africa’s ‘hydrogen valley’
By: Martin Creamer 31st March 2021 Diversified mining and marketing company Anglo American on Wednesday announced a collaboration agreement to complete a feasibility study to develop a ‘hydrogen valley’ anchored in South Africa’s platinum group metals- (PGMs-) rich Bushveld geological area. Spearheaded by South Africa’s Department... →
China's Ganfeng sees lithium rally extending as profits almost triple
By: Reuters 31st March 2021 Ganfeng Lithium , one of the world's top producers of the commodity used in electric vehicle batteries, said on Tuesday slower growth in lithium supply would extend a recent rally in prices after its profits nearly tripled in 2020. The Chinese company, which counts automakers Tesla and BMW among... →
Google, BMW, Volvo and Samsung SDI sign up to WWF call for temporary ban on deep-sea mining
By: Reuters 31st March 2021 Google, BMW, Volvo and Samsung SDI are the first global companies to have signed up to a World Wide Fund for Nature (WWF) call for a moratorium on deep-sea mining, the WWF said on Wednesday. In backing the call, the companies commit not to source any minerals from the seabed, to exclude such... →
Oyu Tolgoi declares force majeure on some Chinese contracts
By: Reuters 30th March 2021 Canada's Turquoise Hill Resources said on Tuesday its Oyu Tolgoi mining unit in Mongolia declared force majeure on some Chinese contracts, after shipments to China were suspended due to Covid-19 related restrictions. The force majeure compounds problems at one of the world's largest... →
Gold extends slide after Biden flags rapid progress on vaccines
By: Bloomberg 30th March 2021 Gold extended its biggest fall in more than three weeks as President Joe Biden prepared to unveil big spending plans after announcing major progress on rolling out vaccines. Biden said 90% of US adults will be eligible for Covid-19 vaccines by April 19, boosting risk appetites even as they... →
Now is time to get going on hydrogen economy opportunity – PIC
By: Martin Creamer 30th March 2021 South Africa has got a massive opportunity to participate in the hydrogen economy and it would be a national travesty if the country failed to do so, says Public Investment Corporation (PIC) sector specialist mining, beneficiation and energy Heidi Sternberg. Mining Weekly can report that the PIC,... →
From top left, clockwise, are Prakashim Moodliar, Neal Froneman, Sifiso Sibiya, Kevin Eggers and Heidi Sternberg.
Hitachi, ABB sign MoU to explore carbon-reducing opportunities
By: Donna Slater 29th March 2021 Technology company ABB has signed a memorandum of understanding (MoU) with machinery manufacturer Hitachi Construction Machinery to share their expertise and collaborate in bringing solutions to market that will reduce the greenhouse-gas (GHG) emissions associated with heavy machinery in mining.... →
Weekly Coal Index Report
29th March 2021 FOB RBCT is back over $100/t, for the first time since October 2018. However, RB1 coal prices in rand terms have reached an all-time high, at around R1 500/t. The bulls are truly back in the driving seat with physical premiums for RB1 at around $6 higher than paper prices. Of course, much of this... →
South African-developed fuel cell passing tests at Implats refinery
By: Martin Creamer 29th March 2021 A South African-developed stationary hydrogen fuel cell is doing well as it is put through a testing phase at the Impala Platinum (Implats) refinery, group executive: refining and marketing Sifiso Sibiya has revealed. The stationary hydrogen fuel cell at Implats’ precious metals and base metals... →
First hydrogen and movement by third quarter – Anglo American Platinum
By: Martin Creamer 29th March 2021 Anglo American Platinum executive head: project and environment Prakashim Moodliar has outlined what the company refers to as its smart power project, which is the development of the hydrogen fuel cell and battery-powered module, retrofitted on to a large haul truck, for deployment at the... →
One ultra-rare metal is doing much better than Bitcoin this year
By: Bloomberg 26th March 2021 There’s one metal that’s leaving all commodities -- and even Bitcoin -- in the dust this year. The challenge for investors is buying it. Iridium, one of the rarest precious metals and mined as a byproduct of platinum and palladium, has surged 131% since the start of January, far beating Bitcoin’s... →
Two-part modernisation of Amandelbult platinum mine under way
By: Martin Creamer 26th March 2021 Two-part modernisation is under way at the Amandelbult underground platinum group metals (PGMs) mine of Anglo American Platinum (Amplats), one where conventional mine design remains intact but is renedered safer and more efficient, and the other involving mechanisation and the deployment of... →
Fitch warns that signs are emerging of weakness in copper price
By: Marleny Arnoldi 26th March 2021 Research agency Fitch Solutions has revised upwards its average copper price forecast for this year to $7 250/t, from $6 800/t previously, as prices have pushed higher than previously expected. The combination of bullish sentiment towards the economic recovery and a substantially weaker dollar... →
China rare earths extend surge on worries over Myanmar supply, inspection threat
By: Reuters 26th March 2021 Looming inspections and concerns over Myanmar supplies are adding fresh momentum to a rally in prices of the rare earth minerals used in industries from turbines to telecoms that are already at their highest in nearly a decade. A price index published by China's rare earths association shot up... →
Moody’s forecasts 30% earnings growth for metals and mining industry by 2022
By: Marleny Arnoldi 26th March 2021 Moody’s Investors Service forecasts the global metals and mining industry’s earnings will increase by about 30% through the first quarter of 2022 on the back of economic recovery, as well as rising demand and tight supplies for steel, iron-ore and copper. This while aluminium, nickel and zinc... →
ASM sets cap for A$106m capital raise
By: Esmarie Iannucci 26th March 2021 ASX-listed Australian Strategic Materials (ASM) has unveiled plans for a A$106-million capital raise to fund key workstreams for its Korean metals plant and front-end engineering and design (FEED) studies for its Dubbo critical minerals project, in New South Wales. The company on Friday said... →
Dividend over digging: Miners pay shareholders but need new projects
By: Reuters 25th March 2021 Major miners need to increase spending to secure fresh copper supply, analysts say, amid worries that availability of the red metal, crucial for the shift to a low carbon world, will slide just as demand surges. Copper -- which hit nine-and-a-half year highs last month at $9 617 a tonne -- is an... →
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