R/€ = 17.08 Change: 0.00
R/$ = 16.78 Change: 0.00
Au 1775.14 $/oz Change: -15.04
Pt 937.50 $/oz Change: -2.00

Asia News

Coal India warns it may need to cut output without price hike

By: Bloomberg     18th February 2022 State-run miner Coal India warned production of the fuel may fall, risking new threats to the nation’s energy supply, if the company isn’t able to raise prices. The world’s largest coal producer is facing cost pressures from a looming rise in salaries and on higher prices of diesel used to power... 

Nickel prices at 3-1/2-week high on Russian supply angst, low stocks

By: Reuters     18th February 2022 Nickel prices rose on Friday to their highest levels in three-and-a-half weeks after the market was bolstered by lower inventories and as the prospect of sanctions on Russia, a major producer of the metal, exacerbated concerns of reduced supply. Three-month nickel on the London Metal Exchange... 

Nickel Mines takes initial stake in Oracle

By: Esmarie Iannucci     18th February 2022 ASX-listed Nickel Mines has completed the acquisition of an initial 10% interest in the Oracle nickel project, currently under construction within the Indonesia Morowali Industrial Park in Central Sulawesi, Indonesia. Nickel Mines in December has inked a definitive agreement with partner... 

FIRB backs POSCO's bid for Senex

By: Esmarie Iannucci     18th February 2022 The Foreign Investment Review Board (FIRB) has approved Korean major POSCO International’s takeover of ASX-listed Senex Energy, issuing the suitor with a ‘no objection’ letter. POSCO was offering A$4.60 a share for each Senex share held, with the deal being unanimously recommended by the Senex... 

DRDGold building initial 20 MW solar, 100 MW storage at Ergo gold operation  

By: Martin Creamer     17th February 2022 With a view to reducing its carbon footprint as well as addressing the uncertainty of the supply and cost of electricity, surface gold mining company DRDGold has taken a decision to construct a solar power plant and a power storage facility at Ergo, the gold from mine waste operation on the East... 

Creamer Media screenshot taken during online results presnetation.
DRDGold CEO Niël Pretorius interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Absolutely clear we’ll reduce Scope 1, 2 emissions by 30% by 2030 ­– Barrick 

By: Martin Creamer     17th February 2022 Gold and copper mining company Barrick has a detailed emission reduction roadmap in place that allows it to be unequivocal about the extent to which it will mitigate against climate change going forward. “We are absolutely clear that we will reduce our greenhouse gas emissions by 30% by 2030 and... 

Graphic provided by Barrick.
Emission reduction roadmap for Scope 1 and 2 emissions. Scope 3 roadmap on way.

Cobalt powerhouse doubles down on nickel

By: Bloomberg     17th February 2022 Specialty metals refiner Umicore is enjoying record profits as battery materials boom, but the company is racing to avert a slowdown in sales as its cobalt-heavy chemicals fall out of favor with carmakers. The Brussels-listed company, which has been refining cobalt for more than 100 years, says... 

Opec+ must fix its million-barrel supply gap, IEA says

By: Bloomberg     17th February 2022 The International Energy Agency (IEA) urged the Organisation of the Petroleum Exporting Countries (Opec) and its allies to address a widening shortfall in their oil production as a volatile market sends crude prices rocketing toward $100 a barrel. While fuel consumption is bouncing back from the... 

Mysterious deep-ocean creatures may help combat climate change

By: Bloomberg     17th February 2022 As the deep ocean faces growing peril from climate change, seabed mining and other threats, scientists have discovered that seafloor sediments are home to vast populations of previously unknown organisms that may play a crucial role in carbon sequestration and marine food webs. When researchers... 

Barrick delivers on guidance, opens new exploration frontiers 

By: Martin Creamer     16th February 2022 Driven by strong performances from its Africa, Middle East and Latin America regions, Barrick’s production in 2021 was in line with guidance for the third successive year. The company also more than replaced its gold reserves net of depletion at a better grade. A dividend of $0.10 a share was... 

icture from website.
Barrick is opening new exploration frontiers

DRDGold has 41 programmes to take mine communities out of poverty  

By: Martin Creamer     16th February 2022 Surface gold recovery company DRDGold, which on Wednesday continued its uninterrupted 15-year run of dividend paying, highlighted its R100-milllion-plus half-year contribution to the fiscus in income tax as an important current underpin of social systems that are helping the country to avoid... 

Screenshot taken by Creamer Media during presentation
DRDGold results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

China stops coal price reporting to crack down on rally

By: Bloomberg     16th February 2022 Two major Chinese coal data providers halted their price indexes after Beijing intensified a campaign to tame down rallies in the mainstay fuel and iron-ore to rein in inflation. Fenwei Energy information Services stopped publishing its indexes for various thermal coal grades, including the most... 

Aluminum hovers near 13-year high as trade weighs Ukraine crisis

By: Bloomberg     16th February 2022 Aluminum hovered near the strongest level since 2008 as traders assessed the impact of an easing of geopolitical tensions over Ukraine and the persistent pressure of soaring energy costs on global supplies. Russian President Vladimir Putin said he hopes for a diplomatic solution to tensions with... 

Fitch Solutions expects a lucrative two years ahead for tin producers

By: Marleny Arnoldi     16th February 2022 Fitch Solutions Country Risk & Industry Research is confident that the price of tin will average between $38 000/t and $42 000/t this year and next, as a result of rapid demand growth outpacing still-recovering supply. The research agency first had its tin price forecast for 2022 and 2023 set... 

Uis tin mine, in Namibia
Uis tin mine, in Namibia

China scientists flag rich lithium find in Mt Everest region

By: Bloomberg     16th February 2022 An official science publication in China is trumpeting what its quoted geologists called a “breakthrough” discovery of lithium in the same region as Mount Everest. The hard-rock resource has the potential to host the third-biggest mine of its kind in China, according to, a website... 

Sumitomo Metal Mining to spend big to boost output of nickel, battery materials

By: Reuters     16th February 2022 Sumitomo Metal Mining Co said on Tuesday it will triple its capital expenditure over the next three years to boost its output capacity of nickel and cathode materials used in batteries. The Japanese miner and smelter plans to spend 494-billion yen ($4.3-billion) in capital expenditure, excluding... 

It’s records all round for Glencore in ‘terrific’ 2021  

By: Martin Creamer     15th February 2022 2021 was a terrific year for the company, Glencore CEO Gary Nagle said on Tuesday, when he reported record earnings before interest tax depreciation and amortisation (Ebitda) of $21.3-billion, a record marketing performance Ebit of $3.7-bilion, and a record industrial business performance of... 

Screenshot taken by Creamer Media during Glencore's presentation of results.
Glencore’s record financial results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

New training material to support continual improvement in tailings management

By: Tasneem Bulbulia     15th February 2022 International organisation the International Council on Mining and Metals (ICMM) has published training material based on the ICMM Tailings Management: Good Practice Guide, designed to be used by tailings professionals to educate wider site-based staff and executives to improve awareness of the... 

China approves $756m new coal mine in northern province

By: Reuters     15th February 2022 China's energy administration has approved a new coal mine project with an estimated cost of 4.8-billion yuan ($756-million) in the northern province of Shaanxi, it said on Tuesday. The mine will have annual production capacity of three-million tonnes, the administration said. 

China’s fight with iron-ore 'guerrillas' triggers price rout

By: Bloomberg     15th February 2022 Iron-ore plummeted as Beijing ramped up a campaign to stop prices overheating even before the government rolls out demand-boosting stimulus measures this year. Prices tumbled more than 11% in Singapore on signs that authorities in China will intensify efforts to quell a big rally since... 

Glencore’s earnings rocket 84% to $21.3bn

By: Martin Creamer     15th February 2022 Diversified mining and marketing company Glencore on Tuesday announced 84% higher financial results for the year, with earnings before interest tax depreciation and amortisation (Ebitda) rising to $21.3-billion. Looking forward, Glencore CEO Gary Nagle said the company remained focused on its... 

Pictue supplied
Glencore CEO Gary Nagle

What conflict in Ukraine would mean for oil, gas and food

By: Bloomberg     15th February 2022 Tensions over Ukraine are entering a critical period, driving up prices of raw materials key to the global economy, and piling pressure on governments already struggling with surging inflation. The US has warned that Russia could attack its neighbor as early as this week, even though Moscow has... 

Coal is still raising trillions of dollars despite green shift 

By: Bloomberg     15th February 2022 The dirtiest fossil fuel is still raising-trillions of dollars of funding, despite finance industry pledges to back net zero carbon targets by the middle of the century. Commercial banks have channeled more than $1.5-trillion across the coal supply chain since the start of 2019, according to a... 

An image of coal mining at an openpit

Exceptionally good working relationship with Kyrgyz govt – Fraser  

By: Martin Creamer     14th February 2022 The London Aim-quoted Chaarat Gold has an exceptionally good working relationship with the government of the Kyrgyz Republic, says CEO Mike Fraser, who is well known in South Africa as the former COO of South32. Chaarat is developing two gold projects in the Kyrgyz Republic. The first is... 

Picture supplied by company.
Chaarat Gold CEO Mike Fraser interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Red tape delaying R90bn investment in ready-to-go projects – Minerals Council 

By: Martin Creamer     14th February 2022 Red tape is delaying investment worth R90-billion in ready-to-go mining-related projects, at a time when the South African economy is in desperate need of such projects proceeding, to create jobs and to stimulate economic growth. Projects worth R30-billion would be able to proceed if the 4... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Weekly Commodities Market Wrap

By: Creamer Media Reporter      14th February 2022 ENERGIES - Coal continues strong although a market correction is imminent once European physical supplies are assured. The current strong physical premiums being enjoyed are likely to align back to paper market levels, especially considering that natgas, power and carbon markets were softer on... 

An image of the latest spot market prices for various metals

Shenghe takes a major stake in Peak

By: Esmarie Iannucci     14th February 2022 Chinese rare earths group Shenghe Resources Hoding Co has acquired a 19.9% stake in ASX-listed Peak Resources from shareholder Appian Pinnacle. Peak on Monday told shareholders that the acquisition was priced at 99c a share, representing a 24.5% premium to the company’s last closing price. 

Giant miners to see record profits slip as cost pressures bite

By: Bloomberg     14th February 2022 Investors in the world’s biggest mining companies will this month be watching for signs that mounting cost pressures and the impacts of slowing Chinese growth could further erode record earnings. Miners are likely to report a drop in profits. The top-five western diversified mining companies,... 

New Rio Tinto chairman to weigh CEO's future amid toxic culture crisis - sources

By: Reuters     11th February 2022 The incoming chairperson of Rio Tinto will review the position of CEO Jakob Stausholm to determine whether he is suitable to lead an overhaul of the company's toxic work culture, two people familiar with the matter said. Dominic Barton, a former diplomat who takes up the role of chairman in May,... 

A Rio Tinto office

Green hydrogen strategy supporting development of R270bn Northern Cape pipeline 

By: Martin Creamer     11th February 2022 Over the past year, the South African government has built on its successful hydrogen strategy to make major strides in positioning the country as a global leader in the green hydrogen market, President Cyril Ramaphosa stated during his State of the Nation Address. This positioning included the... 

Supplied picture
President Cyril Ramaphosa

Kingsgate holds off of TAFTA award

By: Esmarie Iannucci     11th February 2022 Gold miner Kingsgate Consolidated on Friday has reached an agreement with the Thai government to hold the issue of the Thai-Australia Free Trade Agreement (TAFTA) award by the arbitral tribunal until the end of December 2022. The agreement resulted after the Thai government allowed Kingsgate to... 

Indonesia suspends operations of more than 1 000 miners

By: Reuters     11th February 2022 Indonesia has suspended the operations of more than 1 000 miners of coal, tin and other minerals due to a failure to submit 2022 work plans, according to a document reviewed by Reuters issued by the Minerals and Coal Directorate of the mining ministry. Sony Heru Prasetyo, an official at the... 

Foreseen renewables demand providing opportunity for job creation, just energy transition 

By: Martin Creamer     10th February 2022 Demand already foreseen is providing South Africa with the far-reaching and very welcome opportunity to create sufficient new jobs – “and then some” – to ensure a just energy transition away from the country’s current climate-threatening carbon intensity, Mining Weekly can report. South Africa’s... 

Screenshot by Creamer Media during Creamer Media webinar
Photo by Creamer Media
From left, clockwise, Paul O’Flaherty, Dr Tsakani Mthombeni, Hein Reyneke, and Andre de Ruyter

Dalian coking coal tumbles as state planner calls for price stability

By: Reuters     10th February 2022 Chinese coking coal futures plunged on Thursday, after the country's state planner alerted companies with inflated coal prices, while benchmark iron ore rebounded despite government warnings. The National Development and Reform Commission summoned some coal producers on Wednesday, urging them to... 

Glencore clinches marketing relationship with US metals business 

By: Martin Creamer     9th February 2022 Diversified mining and marketing company Glencore has entered a strategic global marketing relationship with United States Strategic Metals, formerly Missouri Cobalt. Involved is a long-term offtake agreement for 100% of the US company’s products, which include cobalt and nickel sulphates,... 

Screenshot image on website of US Strategic Metals
Cobalt processing plant.

Anglo starts up new metallurgical coal mine 

By: Martin Creamer     9th February 2022 Diversified mining company Anglo American announced on Wednesday that its new Aquila mine has achieved its first longwall shear of steelmaking metallurgical coal on schedule and on budget, marking the project’s final stages of construction and commissioning. The new mine, which will have a total... 

Supplied picture
Anglo American Bulk Commodities CEO Themba Mkhwanazi

Iron-ore sinks after China warns over false price information

By: Bloomberg     9th February 2022 Iron-ore futures slumped from a five-month high after Chinese regulators warned information providers against false price disclosure. Prices in Singapore fell to about $144/t from a high of $153/t on Tuesday, the strongest intraday level since end of August. The warning is the latest sign of... 

Lithium’s feast-or-famine future keeps EV makers guessing

By: Bloomberg     9th February 2022 Lithium’s vital role in electric-vehicle batteries means automakers, miners and investors are racing to figure out how much supply the world will need in the coming years -- and also how much it’s going to get. The problem is the predictions vary wildly. The metal’s price has surged fivefold in... 

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