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Asia News

Barrick claims lead in holistic ESG integration amid ‘greenwashing’ scepticism 

By: Martin Creamer     8th August 2022 Gold and copper mining company Barrick has taken the lead in integrating the various aspects of environmental social governance (ESG) to ensure holistic and objective measurement, Barrick CE Dr Mark Bristow stated on Monday, when the New York- and Toronto-listed company reported strong... 

Sumitomo Metal, Sumitomo hike Chile copper project cost estimate by 60%

By: Reuters     8th August 2022 Japan's Sumitomo Metal Mining and Sumitomo said on Monday they had raised their estimate of the construction cost for the Quebrada Blanca phase 2 (QB2) copper project in Chile to about $7.5-billion from $4.7-billion. The 60% increase comes as the Covid-19 pandemic has delayed construction which... 

President’s new energy plan opens way for Glencore Alloys to target bigger projects 

By: Martin Creamer     8th August 2022 Glencore Alloys head Japie Fullard has hailed the new energy plan announced by President Cyril Ramaphosa as opening the way for the company to target bigger power projects. “I must say that the President’s energy presentation is definitely something that is appealing to us,” said Fullard, who... 

Glencore Alloys head Japie Fullard.
Glencore Alloys head Japie Fullard.

Indonesia says Tesla strikes $5bn deal to buy nickel products – media

By: Reuters     8th August 2022 US carmaker Tesla has signed contracts worth about $5-billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia. Southeast Asia's biggest economy has been trying to get Tesla to set up a production facility in the... 

Nickel Industries secures debt for Oracle buy

By: Esmarie Iannucci     8th August 2022 ASX-listed Nickel Industries has secured $225-million in debt capital for the acquisition of the Oracle nickel project. Nickel Industries in December last year inked a definitive agreement with partner Shanghai Decent Investment to acquire a 70% equity interest in the Oracle nickel project for... 

Nothing adds more value than improving operational performance – AngloGold 

By: Martin Creamer     5th August 2022 Gold mining company AngloGold Ashanti is firmly focused on operation performance and the recovery of cost competitiveness as it implements its full asset potential review programme, on which it will report at three-monthly intervals. This was made clear by AngloGold Ashanti CEO Alberto Calderon... 

AngloGold Ashanti CEO Alberto Calderon
AngloGold Ashanti CEO Alberto Calderon

Russia becomes India's third-largest coal supplier in July, Coalmint data shows

By: Reuters     5th August 2022 Russia became India's third-largest coal supplier in July, with imports rising by over a fifth compared with June to a record 2.06-million tonnes, data from Indian consultancy Coalmint showed. Russia has historically been the sixth-largest supplier of coal to India, behind Indonesia, South... 

AngloGold declares $121m first-half dividend on strong cash flow, higher production 

By: Martin Creamer     5th August 2022 Gold mining company AngloGold Ashanti on Friday declared an interim dividend of $121-million on 3% higher year-on-year production and a strong cash-flow improvement. First-half production for the first six months of 2022 was 1.233-million ounces, with second-quarter output up 10% on strong... 

Sunrise Dam’s full-potential assessment identified 33 improvement initiatives.
Sunrise Dam’s full-potential assessment identified 33 improvement initiatives.

Rio Tinto not concerned about Chinese ore-buying company -executive

By: Reuters     5th August 2022 Rio Tinto is not concerned about China's plans to centralise iron ore purchases and has strong ties with its customers, the Australia CEO for the global miner said on Friday. Kellie Parker's comments were in response to questions from the media about China Mineral Resources Group, a state-owned... 

High-flying Glencore locks in renewable power, prioritises future-facing metals  

By: Martin Creamer     4th August 2022 Diversified mining and marketing company Glencore, which delivered exceptionally strong financial results in the six months to June30, is taking steps to progress its decarbonisation pathway, CEO Gary Nagle said on Thursday. The steps include locking in a number of renewable purchase power... 

Glencore CEO Gary Nagle
Glencore results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Copper worth nearly half a billion dollars goes missing in China

By: Bloomberg     4th August 2022 A group of Chinese companies are investigating why a commodities storage site in northern China is holding only one third of the copper concentrate they were financing, according to people familiar with the situation. Traders from more than a dozen mostly State-owned firms gathered in... 

Anglo’s big on-site solar, off-site wind plan lays foundation for green hydrogen  

By: Martin Creamer     3rd August 2022 The planned construction by Anglo American of on-site solar plants and off-site regional wind farms is designed to create a renewable energy ecosystem that reduces Scope 2 emissions and lays the foundation for green hydrogen production – “a hugely ambitious piece of work, and not one that is... 

Anglo American CE Duncan Wanblad.
Anglo American results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Royal Bafokeng applauds President’s energy plan, nears decision on solar  

By: Martin Creamer     2nd August 2022 Royal Bafokeng Platinum CEO Steve Phiri on Tuesday applauded President Cyril Ramaphosa’s energy plan, which involves the introduction of new generation capacity to the grid as quickly as possible to give Eskom the required headroom to carry out much-needed maintenance on its ageing coal fleet.... 

Royal Bafokeng Platinum CEO Steve Phiri.
Royal Bafokeng Platinum CEO Steve Phiri interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Wesizwe appoints new CEO

By: Darren Parker     2nd August 2022 JSE-listed Wesizwe Platinum has appointed Zou Long as its new CEO and as executive director as of August 2. Interim CEO Zhimin Li will vacate this position with immediate effect. 

President Ramaphosa’s got it right, says ex-Eskom CEO on new energy plan  

By: Martin Creamer     1st August 2022 African Rainbow Energy and Power CEO and former Eskom CEO Brian Dames concurs fully with the energy plan unveiled by President Cyril Ramaphosa. “I think he’s got it right,” was Dames's summing up of the President's energy initiative during a discussion at the Coal & Energy Transition Day, covered... 

Creamer Media screenshot image.
Coal & Energy Transition Day covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Anglo’s Pearce decries Queensland’s dramatic increase in royalty rates  

By: Martin Creamer     29th July 2022 The percentage that Australia’s Queensland government will take from Anglo American in 2023 is set to rise from 48% to 59% at current prices, owing to Queensland dramatically increasing its royalty rates without consultation. Anglo American finance director Stephen Pearce decried this as having a... 

Anglo American finance director Stephen Pearce.
Anglo American results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Iron-ore sinks as hopes for more China home-rescue plans dashed

By: Bloomberg     29th July 2022 Iron-ore’s scorching five-day rally came to halt, with traders disappointed by a lack of fresh signals from Beijing that it will channel more funds toward China’s beleaguered property market. The steelmaking material sank as much as 5% after surging more than 20% from its close on July 21.... 

Glencore’s ferrochrome production up on consistent smelter performance 

By: Martin Creamer     29th July 2022 Ferrochrome production, which is South Africa-based, rose 2% in the six months to June 30, reflecting consistent smelter performance, Glencore reported on Friday. Attributable ferrochrome production of 786 000 t was 13 000 t higher than in the first half of last year amid overall production being... 

Glencore CEO Gary Nagle
Photo by Creamer Media
Glencore CEO Gary Nagle

Global coal consumption to match record as EU rushes to save gas

By: Bloomberg     28th July 2022 Global coal consumption this year is set to match a record set in 2013 as European economies work to conserve supplies of natural gas, according to the International Energy Agency (IEA). Demand for coal is rising even as countries target a reduction in carbon emissions over the coming years that... 

De Beers pleased with strong set of first-half results  

By: Martin Creamer     28th July 2022 In the six months to June 30, rough diamond production of the De Beers Group increased by 10% to 16.9-million carats, reflecting a strong operational performance and higher planned levels of production to meet continued strong demand for rough diamonds. Underlying earnings before interest tax... 

De Beers Group CFO Sarah Kuijlaars
De Beers Group CFO Sarah Kuijlaars interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

India wants to open up for lithium mining in batteries quest

By: Bloomberg     28th July 2022 India is seeking to change laws to allow private miners to extract lithium, the key ingredient for batteries used for electric vehicles and energy storage, as the nation aims to be more self-sufficient in green technologies. Prime Minister Narendra Modi’s government wants lawmakers’ approval for... 

Monetary tightening, strong dollar to impact gold demand in the months ahead

By: Darren Parker     28th July 2022 Gold demand in the second quarter decreased by 8% year-on-year, industry association the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ report shows. However, owing to significant inflows into gold exchange-traded funds (ETFs), gold demand for the first half of the year had increased by... 

gold bars

Green electron/hydrogen advance set to move much faster – Anglo 

By: Martin Creamer     28th July 2022 Anglo American CEO Duncan Wanblad on Thursday expressed delight at the energy announcement of President Cyril Ramaphosa, who has unveiled several far-reaching interventions, including a doubling in the allocation for the next renewables procurement round, an uncapping of the 100 MW... 

Anglo American CEO Duncan Wanblad
Anglo American CEO Duncan Wanblad

Radical renewables, hydrogen ramp-up needed, coal energy transition day hears 

By: Martin Creamer     27th July 2022 A radical ramp-up of renewable energy and green hydrogen capacity will be needed by 2040 to take South Africa towards a net-zero climate change commitment, the Coal & Energy Transition Day heard on Wednesday. On the coal-fired power front, South Africa would from the 2040s/2045s need to have... 

Creamer Media screenshot.
Photo by Creamer Media
Presidential Climate Change Commission executive director Chrispian Olver.

Investors remain ‘cautiously optimistic’ about platinum’s future

By: Marleny Arnoldi     27th July 2022 Platinum and palladium prices have been heavily influenced by high inflation this year, with financial markets remaining concerned about higher interest rates and real rates of growth. Research and consultancy company CPM Group on July 27 presented a market outlook presentation for the two... 

World-first hydrogen haul truck operational from August – Anglo Platinum  

By: Martin Creamer     27th July 2022 The pilot world-first hydrogen haul truck launched early in the year, has had some final changes made to it before it heads into the pit and goes into operational mode from August. Meanwhile, the second prototype is already underway, where learnings from the first truck are being taken into the... 

Anglo American's nuGen truck.
Anglo Platinum CEO Natascha Viljoen interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Mining giant Glencore strikes one of Japan's most expensive ever coal deals

By: Bloomberg     27th July 2022 Glencore, the mining and commodity trading giant, agreed to supply coal to a Japanese customer at one of the highest prices ever paid by the nation, threatening to further accelerate inflation. Nippon Steel agreed on an annual supply deal through March with Glencore for power plant coal at... 

De Beers sold $630m of diamonds in its sixth sales cycle

By: Creamer Media Reporter      27th July 2022 Diamond miner De Beers sold $630-million of rough diamonds in its sixth sales cycle for this year. CE Bruce Cleaver says the company continued to see steady demand for its rough diamonds, following "a period of consistently robust demand in the first half" of this year. 

St Barbara targets more cost cuts

By: Esmarie Iannucci     27th July 2022 Gold miner St Barbara is targeting a slew of cost saving initiatives between now and 2024. In its quarterly report for the period ended June, the company told shareholders that the move of its head office from Melbourne to Perth at the end of August, would enable an initial A$5-million of... 

Steel market embracing need for decarbonisation, says Kumba Iron Ore  

By: Martin Creamer     26th July 2022 At a time when steelmakers the world over are taking strong steps to decarbonise steelmaking, Kumba Iron Ore’s high-quality, high-lump iron-ore is highly sought after, which positions the Johannesburg Stock Exchange-listed mining and marketing company well in the global fight against climate... 

Kumba Iron Ore CEO Mpumi Zikalala.
Kumba Iron Ore results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Environmental groups ask Tesla to stop nickel plans in Indonesia

By: Bloomberg     26th July 2022 Environmental groups urged Tesla on Monday to reconsider its plans for nickel investment in Indonesia, the world’s top producer of the material, as ESG scrutiny mounts in an industry crucial to the electric vehicle revolution. In an open letter addressed to CEO Elon Musk and shareholders, dozens... 

Mining firms blow cold on India's plan to dig deep for coal

By: Reuters     26th July 2022 India's plan to auction abandoned coal mines to private firms to meet rising energy demand has brought little cheer to the industry as running the mines poses financial, technological and safety risks companies are reluctant to take on, analysts said. Grappling with unprecedented energy and... 

Mining firms blow cold on India's plan to dig deep for coal

Copper rises on supply risks and softening dollar

By: Reuters     26th July 2022 Copper prices rose on Tuesday, as supply risks flagged by major producers offset demand concerns, while a softening dollar made the metal cheaper for holders of other currencies. Three-month copper on the London Metal Exchange rose 2.2% to $7 640/t by 07:09 GMT, while the most-traded September... 

Kumba Iron Ore excited by President’s energy plan, working earnestly on carbon reduction 

By: Martin Creamer     26th July 2022 Kumba Iron Ore CEO Mpumi Zikalala on Tuesday expressed excitement at the energy announcement of President Cyril Ramaphosa, who unveiled several far-reaching interventions, including a doubling in the allocation for the next renewables procurement round, an uncapping of the 100 MW... 

Kumba marketing and seaborne logistics executive head Timo Smit.
Kumba marketing and seaborne logistics executive head Timo Smit.

Edikan misses the mark for Perseus

By: Esmarie Iannucci     26th July 2022 ASX- and TSX-listed gold miner Perseus Mining has hit the upper end of its production target for the 2022 financial year ended June, with all-in sustaining costs (AISC) falling within the bottom quartile of market guidance. Perseus on Tuesday reported that gold poured during the June quarter... 

MMG suspends copper output guidance after Las Bambas protests in Peru

By: Reuters     25th July 2022 Chinese miner MMG on Monday said it had suspended its copper production targets for the year following a 60% output drop due to a long protest at its Las Bambas mine in the Peruvian Andes, which significantly disrupted operations. MMG had previously expected to produce 300 000 t to 320 000 t of... 

MMG suspends copper output guidance after Las Bambas protests in Peru

Decarbonisation, renewables can create new economic sectors in SA – Anglo Platinum 

By: Martin Creamer     25th July 2022 JOHANNESBURG (miningweekly.com) – Anglo American Platinum CEO Natascha Viljoen on Monday expressed the firm belief that decarbonisation and renewable energy have the potential to create new economic sectors in South Africa. On the renewable energy front, Viljoen also revealed that Anglo Platinum... 

Anglo American Platinum CEO Natascha Viljoen
Anglo American Platinum CEO Natascha Viljoen

Iron-ore soars on hopes for China's rebound in Q3

By: Reuters     25th July 2022 Iron-ore futures soared on Monday, extending a rally spurred by hopes of an economic rebound for top steel producer and consumer China in the third quarter, and support for the country's troubled property sector. The most-traded iron ore, for September delivery, on China's Dalian Commodity... 

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