R/€ = 16.65 Change: -0.03
R/$ = 16.24 Change: -0.04
Au 1794.23 $/oz Change: 5.65
Pt 958.00 $/oz Change: -4.00

Asia News

Commitment to green economy is crucial, says ARM’s Patrice Motsepe 

By: Martin Creamer     7th March 2022 Diversified mining company African Rainbow Minerals (ARM) has reiterated its commitment to transitioning from coal to renewable energy, with its executive chairperson Patrice Motsepe describing the global commitment to the green economy as being not only important but crucial. Motsepe was... 

Copper soars to record as metals surge on Russia supply fears

By: Bloomberg     7th March 2022 Metals are breaking new records with copper spiking to an all-time high and nickel surging more than 16%, as soaring energy prices and fears of supply shocks rattled commodities markets amid war in Ukraine. The White House said it’s talking to allies about a possible oil embargo on Russia,... 

An image of copper and nickel production

Gold rises above $2 000 as Ukraine war boosts haven demand

By: Bloomberg     7th March 2022 Gold prices on Monday scaled the $2 000-level for the first time in a year-and-a-half, as investors rushed to the safety of the metal in the wake of an escalating Russia-Ukraine crisis, while supply disruption fears sent palladium to an all-time high. Spot gold was up 0.9% at $1 986.83 per... 

Decarbonisation standing out as key metals/mining value driver – Wood Mackenzie  

By: Martin Creamer     4th March 2022 As pressure mounts for the world to align meaningfully with the 1.5 °C global temperature rise scenario, decarbonisation is standing out as a key driver of metals and mining value. “This has strengthened our view that the mining industry now has a clear pathway towards long-term transformative... 

Creamer Media screenshot taken during webinar.
Wood Mackenzie future facing mined commodities forum covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

China calls on rare earths companies to bring prices back to 'reasonable' level

By: Reuters     4th March 2022 China summoned some key rare earths companies amid continuously-rising product prices and urged them to ensure a steady supply chain to help cool prices, the regulator said on Friday. The Ministry of Industry and Information Technology said in a statement that it had instructed producers... 

Gold climbs as haven demand gains on shelling of nuclear plant

By: Bloomberg     4th March 2022 Gold climbed on increased demand for the haven asset, after the shelling of Europe’s largest nuclear power plant raised concerns over the safety of the facility in Ukraine. Bullion is heading for a weekly gain as investors weigh the economic fallout from Russia’s invasion of its neighbor. The... 

Kingsgate secures funds for Chatree restart

By: Esmarie Iannucci     4th March 2022 Gold miner Kingsgate Consolidated on Friday announced that it has secured a $15-million bridge facility from Taurus Mining Finance Fund to restart its Chatree gold mine, in Thailand. Kingsgate told shareholders that the bridge facility will be used to finance general working capital, cost... 

Mining companies may pause growth plans amid Ukraine war, inflation

By: Reuters     4th March 2022 Flush with cash after bumper earnings, mining companies straddle a delicate balancing act as they benefit from soaring commodity prices amid the Ukraine-Russia crisis but also potentially face high inflation that could hit short-term demand and slow down growth plans, analysts said. The world's... 

Mining companies may pause growth plans amid Ukraine war, inflation

Decarbonisation creating greatest investment opportunity of our lifetime – Sibanye-Stillwater   

By: Martin Creamer     3rd March 2022 The decarbonising of the global economy to prevent climate change is going to create the greatest investment opportunity of our lifetime. It will also leave behind the companies that do not adapt – regardless of what industry they are in. 

Supplied picture
Sibanye-Stillwater presentation covered by Mining Weekly’s Martin Creamer.

Sibanye-Stillwater delivers another record performance with highest-ever dividend

By: Martin Creamer     3rd March 2022 Precious metals mining company Sibanye-Stillwater in 2021 delivered another record financial performance, with revenue of R172.2-billion and adjusted earnings before interest taxation depreciation and amortisation (Ebitda) of R68.6-billion. Revenue was 35% higher than for 2020 and Ebitda 39%... 

Creamer Media picture.
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Metals extend scorching rally with zinc eyeing $4 000/t

By: Bloomberg     3rd March 2022 Zinc reached its highest since 2007 and other industrial metals extended a powerful rally fueled by trade turmoil and rising energy costs amid Russia’s increasing economic isolation. The metal used to coat and protect steel rose as much as 3.6% on the London Metal Exchange to reach $3 999/t,... 

An image of zinc flakes

ESG slowing down as energy transition highlights mining as indispensable – RMF  

By: Martin Creamer     2nd March 2022 The energy transition is highlighting mining as an indispensable industry, said Responsible Mining Foundation (RMF) CEO Hélène Piaget in opening a webinar on 'Responsible Mining Index (RMI) Report 2022', which reports a slowdown in economic, environmental, social and governance (ESG). “Yet there... 

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Responsible Mining Foundation report covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Eurasia Mining says M&A strategy geared towards BRICS

By: Mariaan Webb     2nd March 2022 Platinum group metals (PGMs) and battery metals firm Eurasia Mining said on Wednesday that its board was closely monitoring the sanctions imposed on Russian individuals and entities, and stressed no one subject to these sanctions was associated with the company. Eurasia also said that the... 

Akobo hits record deep mineralisation at Segele

By: Marleny Arnoldi     2nd March 2022 Scandinavia-based Akobo Minerals has intersected visible gold at 282 m deep, which is a record vertical depth, at its Segele project, in Ethiopia. The company also sees signs of further potential gold mineralisation in several sections along the latest drill holes.  

China shunning Russian coal with banks nervous over sanctions

By: Bloomberg     2nd March 2022 Chinese power plants and steelmakers are looking for alternatives to Russian coal after some domestic banks suggested they avoid purchases due to the mounting sanctions being imposed on Moscow. Some state-own firms were sent private client notes by the lenders advising them to halt buying... 

China shunning Russian coal with banks nervous over sanctions

Importance of Russian titanium to global industry

By: Reuters     2nd March 2022 The potential for disruptions to Russian commodity supplies has thrown a spotlight on the metal used in the aerospace, marine and auto industries. The United States and Europe have imposed financial sanctions on Russian banks, individuals and other entities after Russia invaded Ukraine.  

Zimbabwe platinum miner granted licence to generate 185 MW of solar power 

By: Martin Creamer     1st March 2022 Zimbabwe platinum group metals mining company Zimplats has been granted a licence to generate 185 MW of its own solar power. Zimplats is already totally green through the use of hydropower and the solar power will enhance the position of the expanding company and provide security of electricity... 

Picture supplied
Implats executive sustainable development Dr Tsakani Mthombeni

ICMM publishes new tools to manage social performance

By: Marleny Arnoldi     1st March 2022 The International Council on Mining and Metals (ICMM) has published a set of practical tools to strengthen approaches to managing social performance within mining companies. These tools have been designed to support companies to strengthen these capabilities and to build and maintain positive... 

Implats allays fears that Russia/Ukraine conflict may impact PGMs supply  

By: Martin Creamer     1st March 2022 Given the prominence of Russia as a platinum group metals (PGMs) producer, there are fears that it may potentially have an impact on global PGMs supply, Implats CEO Nico Muller said on Tuesday, when the JSE-listed company delivered robust earnings and free cash flow generation for its half year... 

Creamer Media screenshot.
Implats half-year presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

China plans sharp increase in overseas iron-ore output by 2025

By: Reuters     1st March 2022 China plans to raise its equity output of iron-ore in overseas mines to 220-million tonnes by 2025, as well as increase domestic raw material supplies, State-backed China Metallurgical News said on Tuesday. China aims to "fundamentally" solve the shortage issue in steelmaking ingredients in 10... 

An image of iron-ore mining operations
Iron-ore mining

WFDB implores diamond industry to adopt responsible business practice guidelines

By: Marleny Arnoldi     1st March 2022 The World Federation of Diamond Bourses (WFDB) concluded a successful President’s Meeting in Dubai last week, during which the organisation adopted a resolution in support of social responsibility, transparency, compliance and full disclosure. The keynote address was delivered by Angola... 

Uncut diamonds from southern Africa and Canada

Debt-free Implats generates R15bn free cash, declares dividend, advances projects

By: Martin Creamer     1st March 2022 Platinum group metals (PGM) mining and marketing company Impala Platinum Holdings (Implats) on Tuesday delivered robust earnings and free cash flow generation for its half year ended December 31, despite the retracement in rand PGM pricing from recent highs and a decline in sales volumes.... 

Picture supplied
Photo by Implats
Impala Refinery in Springs

Blackstone planning Vietnam nickel production from 2025

By: Esmarie Iannucci     1st March 2022 A prefeasibility study for the Ta Khoa nickel project (TKNP), in Vietnam, has estimated that the project could produce some 151 000 t of nickel over its 9.2 year mine life. ASX-listed Blackstone Minerals, which holds a 90% interest in TKNP, this week noted that first production is earmarked for... 

Congo court appoints temporary administrator to run China Moly's Tenke mine

By: Reuters     1st March 2022 A court in Democratic Republic of Congo on Monday appointed a temporary administrator to run China Molybdenum's 603993.SS Tenke Fungurume copper and cobalt mine at the request of state miner Gecamines, a minority shareholder in the project. The order from the Tribunal of Commerce in the... 

Harmony spending R7.7bn on capital projects  

By: Martin Creamer     28th February 2022 Gold mining company Harmony Gold is in the process of spending R7.7-billion on capital projects. The biggest of these is the high-grade Zaaiplaats gold project at a capital cost of R4.5-billion. The Moab Khotsong mine will expand through Zaaiplaats. 

Picture supplied
Harmony CEO Peter Steenkamp speaks to Mining Weekly's Martin Creamer in a Teams interview. Video: Darlene Creamer

Gold outshines treasuries to be top hedge against Ukraine risk

By: Bloomberg     28th February 2022 Gold has replaced Treasuries as the haven of choice as the conflict in Ukraine worsens, with surging oil prices diminishing the appeal of bonds. The precious metal is gaining in popularity after Russia’s invasion of Ukraine drove Brent crude prices above the $100 mark last week for the first... 

Gold is gaining in popularity after Russia's invasion of Ukraine
Gold is gaining in popularity after Russia's invasion of Ukraine

Harmony Gold begins ‘aggressive’ renewable energy rollout as it advances decarbonisation  

By: Martin Creamer     28th February 2022 South Africa’s largest gold producer by volume, Harmony Gold, has begun an “aggressive” renewable energy rollout plan as it advances its plans to decarbonise to net zero by 2045, Harmony CEO Peter Steenkamp said on Monday. The rollout plan involves having 167 MW of solar power in place by... 

Creamer Media screenshot
Harmony Gold presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Harmony Gold's profit plunges, interim dividend declared

By: Martin Creamer     28th February 2022 The net profit of gold mining company Harmony Gold plunged 69% to R1.4-billion from R4.6-billion in the six months to December 31, and an interim dividend has been declared out of income reserves. Revenue increased by 2% to R22-billion from R21.6-billion and  the operating free cash flow margin... 

Creamer Media picture
Photo by Creamer Media
Harmony Gold CEO Peter Steenkamp

Iron-ore prices rise as Russia-Ukraine conflict clouds supply outlook

By: Reuters     28th February 2022 Benchmark iron-ore futures in China and Singapore climbed by more than 3% on Monday as traders worried that a prolonged armed conflict between Russia and Ukraine could also curb global supply of the key steelmaking ingredient. The most-traded May iron ore contract on China's Dalian Commodity... 

Chinese coal plunges after more price controls imposed on miners

By: Reuters     25th February 2022 China will limit the price of coal in its three biggest mining regions as it adds yet another layer of controls to stop the market from overheating. The “reasonable range” for benchmark thermal coal at the mine head in Shanxi province has been set at 370 to 570 yuan a ton, the National... 

MCA signs critical minerals deal with KOMIR

By: Esmarie Iannucci     25th February 2022 The Minerals Council of Australia (MCA) has inked a memorandum of understanding (MoU) with the Korea Mine Rehabilitation and Mineral Resources Corp (KOMIR) to strengthen cooperation on exploration and development of mining resources in Australia, particularly critical minerals. “Australian... 

Great to see such healthy demand for this great industry – De Beers  

By: Martin Creamer     24th February 2022 It's great to see such a healthy demand for this great industry, De Beers Group CFO Sarah Kuijlaars said after posting a set of stunning financial results for the world’s leading diamond company by value. Underlying 2021 earnings before tax, depreciation and amortisation soared to $1 100-million... 

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De Beers Group CFO Sarah Kuijlaars interviewed by Mining Weekly's Martin Creamer.

Aluminium rockets to record high on fears of disruptions to Russian supplies

By: Reuters     24th February 2022 Aluminium prices rallied to a record high on Thursday as Moscow's invasion of Ukraine sparked fears of sanctions that could cut supplies from major producer Russia and disrupt energy supplies needed to produce the metal. Moscow launched an all-out invasion of Ukraine by land, air and sea on... 

An image of an aluminium ingot.

Anglo posts record full-year Ebitda of $20.6bn  

By: Marleny Arnoldi     24th February 2022 Global diversified miner Anglo American has posted a profit attributable to equity shareholders of $8.6-billion for the 2021 financial year after recording solid performances across assets and with strong support from commodity prices. Underlying earnings before interest, taxes, depreciation... 

Anglo American outgoing CEO Mark Cutifani
Photo by Creamer Media
Anglo American outgoing CEO Mark Cutifani

Celsius gets backing from Philippine government

By: Esmarie Iannucci     24th February 2022 The Philippine government has awarded junior Celsius Resources’ subsidiary Makilala Mining Company (MMCI) priority project status for the Maalinao-Caigutan-Biyog (MCB) copper/gold project. A scoping study previously estimated that the project would require a capital investment of $253-million to... 

Gold soars over 2%, palladium advances as Russia attacks Ukraine

By: Reuters     24th February 2022 Gold prices jumped more than 2% on Thursday to their highest in over a year and palladium extended a rally as Russian forces invaded Ukraine after President Vladimir Putin authorised what he called a special military operation. Spot gold climbed 1.9% to $1 943.28 per ounce by 0720 GMT, after... 

Gold soars over 2%, palladium advances as Russia attacks Ukraine

Oil soars past $100 after Russia attacks targets across Ukraine

By: Bloomberg     24th February 2022 Brent oil surged above $100 a barrel for the first time since 2014 as Russia’s attack on cities across Ukraine sparked fears of a disruption to the region’s critical energy exports. Futures in London jumped as much as 5.4% after Vladimir Putin ordered an operation aimed at demilitarizing the... 

Kumba CEO gives firm thumbs up to continued exploration in prospective Northern Cape   

By: Martin Creamer     24th February 2022 New Kumba Iron Ore CEO Mpumi Zikalala this week gave a firm thumbs up to South Africa’s biggest iron-ore mining and marketing company continuing to invest in mineral exploration in the Northern Cape, which she described as being highly prospective. The Johannesburg-listed Anglo American group... 

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Kumba Iron Ore CEO Mpumi Zikalala interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.
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