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Asia News
Gold pauses after best week since 2008 as caution reigns
By: Bloomberg Updated 25 minutes ago 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 Updated 30 minutes ago 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 Updated 1 hour 40 minutes ago 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 Updated 4 hours ago 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 the 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... →
Metals and mining M&A up in February relative to January
By: Rebecca Campbell 27th March 2020 Research and consultancy company GlobalData has reported that mergers and acquisition (M&A) activity in the global mining and metals sector during February was, in value, higher than in January, but still substantially lower than the average figure for the previous 12 months. It was also very far... →
Covid-19 a wake-up call on import over-dependency – Madala
By: Martin Creamer 27th March 2020 The outbreak of Covid-19 internationally should be a wake-up call on the impact of South Africa’s dependency on imported products, Madala & Associates CEO Dilley Naidoo said on Friday. He urged that policies parallel to what was being implemented in the automotive sector should be prioritised in... →
Official gold holdings head for 34 000 t as global risks heighten 
By: Martin Creamer 26th March 2020 Central banks and supranational organisations, such as the International Monetary Fund and the Bank of International Settlements, currently hold nearly 34 000 t of gold as reserve assets, the World Gold Council reported on Thursday. The council puts the primary reason for recent gold buying down... →
Gold bars.
Sandvik to cut costs due to coronavirus impact, reduces dividend
By: Reuters 26th March 2020 Swedish mining gear and metal-cutting tools maker Sandvik on Thursday launched large cost-cutting measures in response to the rapid global spread of the coronavirus and said it would reduce its proposed dividend for 2019. While the company, a rival of Sweden's Epiroc and US group Kennametal,... →
Alrosa launches digital tender for sale of rough diamonds during Covid-19
By: Simone Liedtke 26th March 2020 Russian miner Alrosa has launched a digital tender for special size rough diamonds weighing more than 10.8 ct. The miner decided to cancel the upcoming special size auctions, simultaneously offering customers the opportunity to take part in a digital tender if they need rough diamonds. →
New gold futures contract launched – LBMA
By: Martin Creamer 26th March 2020 A new gold futures contract just launched has expanded delivery options, London Bullion Market Association (LBMA) said on Thursday. The membership of LBMA, a gold and silver trade association, is made up of banks, traders and logistics companies across the world, resulting in it being given... →
LBMA executive board director Sakhila Mirza.
World Federation of Diamond Bourses to launch global trading platform soon
By: Marleny Arnoldi 26th March 2020 The World Federation of Diamond Bourses (WFDB) has created a World Federation Diamond Trading Platform to provide a secure and reliable source of trading amid uncertain times globally, while promoting trade and healthy competition in the diamond market. The cross-bourse trading platform will be... →
Online bullion accounts, ETFs the way to go amid Covid-19 lockdowns
By: Marleny Arnoldi 26th March 2020 Now that supply of retail products is tightening amid Coronavirus contingency measures and lockdowns, investing in physical platinum without taking delivery of investment bars and coins is an accessible and cost-effective way of owning platinum, says the World Platinum Investment Council (WPIC).... →
Global mining majors putting bright new spotlight on green hydrogen
By: Martin Creamer 25th March 2020 Three years ago the Hydrogen Council catapulted hydrogen to the forefront as a source of energy for transport and industrial companies. Now mining majors are putting the spotlight on hydrogen once again with the launch of the Green Hydrogen Consortium, which Hatch marketing coordinator Alana... →
China's first iron-ore futures ETF raises $11m ahead of Friday debut
By: Reuters 25th March 2020 China's first iron ore futures-based exchange traded fund (ETF) has raised $11-million from institutional investors and clients at private banks, according to the manager of the fund, which will list in Hong Kong on Friday. The ETF, managed by the Hong Kong unit of Chinese broker Shanxi... →
Gold in historic squeeze as virus snarls trade and spurs demand
By: Bloomberg 25th March 2020 An extraordinary squeeze in the gold market has forced the main U.S. exchange to take action as the global pandemic shuts down physical trading routes just as investors are racing to buy the metal as a safe haven. Banks and traders typically ship gold around the world on commercial flights,... →
Alto responds to Goldsea bid
By: Esmarie Iannucci 25th March 2020 Takeover target Alto Metals has urged shareholder not to take any action in relation to a takeover offer from the Australian subsidiary of Shandong Goldsea Group. Goldsea earlier this week issued its bidder statement for the 6.5c a share all cash offer for each Alto share held. →
Gold investors are betting that it’s 2008 all over again
By: Bloomberg 24th March 2020 Gold’s haven reputation took a serious beating, with prices tumbling as investors sought to free up cash amid a broad and devastating market rout. Sound familiar? Sure, it’s the story of gold for much of this month. But that’s only half the answer. It’s also a scenario that played out in the... →
Ok Tedi workers cleared of Covid-19
By: Esmarie Iannucci 24th March 2020 State-owned Ok Tedi Mining on Tuesday said that the results of its three remaining potential COVID-19 cases have come back negative. Between March 15 and 20 the company identified seven potential COVID-19 cases at the Ok Tedi copper/gold/silver mine, in Papua New Guinea, with samples sent for... →
Rupture of copper demand to fuel surplus as industry hit by virus
By: Reuters 23rd March 2020 A slide in copper demand as much of the world's manufacturing sector is disrupted by the coronavirus outbreak is expected to fuel a surplus this year of up to a million tonnes in what was expected to be a balanced market. Most analysts are still revising estimates but they say the loss of... →
If we don’t take climate change seriously, God help us – Mxolisi Mgojo 
By: Martin Creamer 23rd March 2020 Coal mining company Exxaro Resources, which acknowledges coal’s negative impact on climate in a 20-page publication just released, expresses the view that a just transition to a low-carbon future should inform global climate action. “If we don’t take climate change issues very, very seriously,... →
B2Gold suspends mining in Philippines, African operations continue
By: Tasneem Bulbulia 23rd March 2020 Canada-based gold producer B2Gold’s Fekola and Otjikoto mines, in Mali and Namibia, respectively, continue to operate as normal, but the company has had to temporarily suspend mining at its Masbate mine, in the Philippines as a result of the ongoing Covid-19 pandemic. Mining was suspended as a... →
Mining Company Katanga sues China MMG's Kinsevere mine in Congo
By: Reuters 23rd March 2020 China's MMG on Monday said Mining Company Katanga (MCK) has obtained a freezing court order over some assets of its Kinsevere copper mine in Democratic Republic of Congo and is seeking damages of $258-million over a mining services contract. MCK has commenced legal proceedings as it claims MMG... →
Bacanora’s Mexico lithium project faces delay
By: Simone Liedtke 23rd March 2020 Lithium exploration and development company Bacanora Lithium continues to progress all its work streams, despite the timetable for the engineering work at its Sonora lithium project, in Mexico, having been impacted on by delays in Asia and North America because of the Covid-19 outbreak.... →
Santos defers Barossa and PNG expansion plans
By: Esmarie Iannucci 23rd March 2020 Oil and gas major Santos has announced plans to cut planned capital expenditure and reduce production costs in response to the Covid-19 pandemic and the falling oil prices. The ASX-listed company would reduce planned capital expenditure for 2020 by some A$550-million, or 38%, while also... →
Covid halts Lynas plant
By: Esmarie Iannucci 23rd March 2020 Rare earths miner Lynas has temporarily suspended production at its Malaysian plant, as the Malaysian government tightened control as the COVID-19 cases escalate. Lynas on Monday said that as part of the temporary plant shut-down to care and maintenance mode, the company has retained some... →
Oil Search takes precautionary measures in PNG
By: Esmarie Iannucci 23rd March 2020 ASX-listed Oil Search has placed staff and operations in Papua New Guinea (PNG) on lockdown after that country reported its first cast of COVID-19. Oil Search on Monday said that the company has been monitoring COVID-19 since early in the year, and had established a taskforce to proactively... →
Gold pares weekly losses after weaker dollar brings relief
By: Bloomberg 20th March 2020 Bullion got a reprieve Friday as the dollar halted its rally, although the metal remains poised for a back-to-back weekly loss. Gold headed for its biggest daily gain since March 3 and silver earlier jumped the most since 2014. Precious metals are rebounding after days of relentless selling by... →
Buy gold 'right here and now', top wealth manager says
By: Bloomberg 20th March 2020 Now’s the time to buy gold, according to one of the world’s leading wealth managers, which flagged bullion’s prospects after the haven lost out to the dollar in recent weeks as the pandemic roils markets. “When I think about what would I buy in the right here and now, I would be buying gold,”... →
Anglo takes companywide measures to limit spread, mitigate impacts of Covid-19
By: Marleny Arnoldi 20th March 2020 Global diversified miner Anglo American has announced the measures that it is taking in light of the Covid-19 outbreak across its mining and corporate operations. CE Mark Cutifani says the measures are often tailored to the specific nature and location of a particular site to protect the... →
Gold to remain attractive investment asset despite impact of Covid-19
By: Marleny Arnoldi 19th March 2020 The World Gold Council (WGC) on Thursday said deceleration in economic growth globally will undoubtedly impact on consumer demand for gold and gold’s volatility may remain high. However, high risk levels, coupled with widespread negative real rates and quantitative easing, will be supportive of... →
Fitch lowers mineral output forecasts for 2020 in light of mine stoppages
By: Marleny Arnoldi 19th March 2020 Research agency Fitch Solutions has revised downwards some of its mineral production forecasts for this year, in light of increasing operational disruptions while Covid-19 continues to spread globally. For example, Fitch revised its production forecast for copper to 20.28-million tonnes, from... →
Question marks over protracted re-entry of trimetal PGM catalysis
By: Martin Creamer 19th March 2020 Trimetal catalysts, which use three platinum group metals (PGMs) rather than two and thereby balance PGM demand, have a multi-decade history of curbing gasoline vehicle emission, which poses question marks over why their re-adoption should be so protracted. New York-based CPM Group MD Jeffrey... →
CPM Group MD Jeffrey Christian
After the rout, platinum and palladium face more turmoil before recovery
By: Reuters 19th March 2020 Platinum and palladium will remain turbulent in coming months after huge losses sparked by the spread of coronavirus, before starting a tentative recovery with support from palladium's supply gap and platinum's correlation with gold, analysts said. Platinum has plunged 40% and palladium 45% from... →
From using drones to stockpiling cyanide, miners keep digging amid pandemic
By: Reuters 18th March 2020 From using drones for field inspections to stockpiling cyanide, miners are scrambling to maintain output amid the coronavirus pandemic, a task made trickier in underground mines where social distancing is nearly impossible. The virus has claimed 8 700 lives and infected over 200 000 globally.... →
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