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Asia News

Having gold in your portfolio is a very solid insurance right now – Bristow 

By: Martin Creamer     18th February 2021 Having gold in your portfolio is a very solid insurance right now, as it always has been during global crises. That is the view of Barrick Gold president and CE Dr Mark Bristow, whose company on Thursday reported 91% higher fourth-quarter operating cash flow to $5.4-billion and annual free cash... 

Sibanye assessing on-site green hydrogen generation to power fuel cell mobility  

By: Martin Creamer     18th February 2021 Platinum group metals (PGM) producer Sibanye-Stillwater is assessing the generation of green hydrogen on its mine sites to power PGM-catalysed hydrogen fuel cell mobility, it said on Thursday, when the Johannesburg- and New York-listed company foresaw good exposure for itself to the hydrogen... 

Sibanye-Stillwater CEO Neal Froneman.
Sibanye-Stillwater results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Rio Tinto committed to Oyu Tolgoi, says CEO

By: Mariaan Webb     18th February 2021 Mining company Rio Tinto remains committed to Oyu Tolgoi, in Mongolia, and is comfortable with the risk sharing and the stake that it has in the asset, which is one of the world’s largest-known copper and gold deposits. Responding to an analyst’s question during the group’s year-end results call... 

Rio Tinto committed to Oyu Tolgoi, says CEO

Sibanye-Stillwater profit soars, free cash rockets, R9.4bn dividend 

By: Martin Creamer     18th February 2021 The free cash flow of precious metals company Sibanye-Stillwater rocketed 63-fold to within a hair’s breadth of R20-billion in the six months to the end of December. The Johannesburg- and New York-listed company, headed by CEO Neal Froneman, reported a sky-high profit rise to R29.3-billion for... 

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

Governments from Mongolia to Mali seek to reopen mining deals

By: Reuters     18th February 2021 Some resource-rich developing countries are seeking to rewrite mining contracts and accelerate dividend payouts, which can take years to materialize under deals that experts said are tilted in companies' favor. Any move to renegotiate agreements will trigger pushback by miners wary of threats to... 

TPI warns that most large firms have not gone clean enough to meet Paris agreement

By: Marleny Arnoldi     17th February 2021 The Transition Pathway Initiative (TPI) has warned that 86%, or 95 out of 111, of global publicly listed firms surveyed in heavy industries have failed to prepare for the “transition decade”. Research done by the initiative points to an $856-billion climate risk, which is the combined market cap... 

Glencore ferrochrome business evaluating clean energy projects 

By: Martin Creamer     17th February 2021 The ferrochrome business of diversified mining and marketing company Glencore, which uses a substantial amount of electricity, is evaluating various clean energy projects, Glencore ferroalloys head Japie Fullard said during this week’s Glencore a media conference. The media conference followed... 

Glencore Alloys CEO Japie Fullard
Glencore Alloys CEO Japie Fullard

Rio u-turns on emissions as new CEO takes climate-change journey

By: Bloomberg     17th February 2021 Rio Tinto Group has set goals for lowering the greenhouse gas emissions of its customers, reversing an earlier stance that it has no control over how steelmakers use the iron ore it mines. Rio had been at odds with some of its biggest rivals amid a debate about who bears responsibility for Scope... 

Rio u-turns on emissions as new CEO takes climate-change journey

Coal to China set to continue while Asian giant not buying from Australia – Glencore 

By: Martin Creamer     17th February 2021 The export of South African coal to China is poised to continue while China decides not to buy Australian coal, Glencore CEO Ivan Glasenberg said during this week’s Glencore media conference. “China still imports round about 185-million tons to 190-million tons of seaborne coal. They like to... 

Glencore heading for a future without any coal production.
Photo by Bloomberg
Glencore heading for a future without any coal production.

Miners regain mojo as outlook for commodity supercycle heats up

By: Bloomberg     17th February 2021 Two of the world’s top miners boosted their dividends amid growing optimism about a new commodities boom driven by a rebounding global economy, massive stimulus and supply shortages. Glencore shares jumped to the highest in nearly two years as the miner and commodity trader said it would resume... 

Miners regain mojo as outlook for commodity supercycle heats up

China eyes rare earth export curbs for US defence sector – FT

By: Bloomberg     17th February 2021 China is exploring whether it can hurt U.S. defense contractors by limiting supplies of rare-earth minerals that are critical to the industry, the Financial Times reported. Industry executives said government officials had asked them how badly companies in the US and Europe would be affected if... 

Nagle expresses firm belief in Glencore’s coal-depleting climate change strategy 

By: Martin Creamer     16th February 2021 Firm belief in the climate change strategy being embarked upon by diversified mining and marketing company Glencore was expressed on Tuesday by incoming Glencore CEO Gary Nagle, Outgoing Glencore CEO Ivan Glasenberg announced in December that he would be handing over the reins of the global... 

Gary Nagle
Gary Nagle

DRDGold flies sky high on numbers never seen before  

By: Martin Creamer     16th February 2021 Surface gold recovery company DRDGold flew sky high in the six months to the end of December on financial returns never seen before. “We’ve never seen numbers like this. I mean the cash operating profit was R1.4-billion and earnings R950-million. These are numbers over a six-month period. It’s... 

Recovering gold at the Far West Gold Recoveries operation.
DRDGold CEO Niël Pretorius interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Platinum powers to a six-year high on tight global supply

By: Bloomberg     16th February 2021 Platinum rallied again, surging to the highest level in more than six years on signs that an economic recovery from the pandemic is set to boost demand for the metal used in catalytic converters. The precious metal has surged about 22% so far this year, outperforming all its peers, aided by... 

Platinum powers to a six-year high on tight global supply

Glencore ready to support transition to low-carbon economy – Glasenberg 

By: Martin Creamer     16th February 2021 Diversified mining and marketing company Glencore is ready to support the transition to a low-carbon economy, CEO Ivan Glasenberg said on Tuesday when the company reported finishing 2020 with earnings before interest tax depreciation and amortisation (Ebitda) of $11.6-billion, Covid-19... 

Glencore CEO Ivan Glasenberg
Glencore CEO Ivan Glasenberg

DRDGold declares 60%-higher dividend on soaring earnings

By: Martin Creamer     16th February 2021 Surface gold recovery company DRDGold has declared an interim cash dividend on soaring six-month earnings. The operating profits of the Johannesburg- and New York-listed company, headed by CEO Niël Pretorius, rose by 100% to R1.4-billion in the six months to the end of December. 

DRDGold CEO Niël Pretorius
DRDGold CEO Niël Pretorius

BHP coal impairments hit profits

By: Esmarie Iannucci     16th February 2021 Diversified major BHP has reported solid interim results for the half-year ended June, with both revenues and underlying attributable profit up on the previous corresponding period. Revenue for the half-year was up 15% to $25.6-billion, while underlying attributable profit was up 16% on the... 

BHP coal impairments hit profits

Copper at highest since 2012 as global equities extend gains

By: Bloomberg     16th February 2021 Copper climbed to the highest level since 2012 as a risk-on mood across global markets helped to lift equities and put pressure on the dollar. Prices have soared on optimism that the use of coronavirus vaccines will aid a rebound in global growth. Prices climbed 5.3% last week on the London... 

Copper at highest since 2012 as global equities extend gains

London listing on way as mining company strives to become green gold producer  

By: Martin Creamer     15th February 2021 A Kenyan gold asset with expansion, exploration and green status upside is scheduled to reverse list on the London Stock Exchange in March. The Kilimapesa gold mine, with a declared Joint Ore Reserves Committee resource of 670 000 oz, is an operating three-adit asset with fairly extensive... 

Mayflower Capital Investments adviser Gerard Kisbey-Green
Mayflower Capital executive Gerard Kisbey-Green interviewed by Mining Weekly ‘s Martin Creamer on the Kilimapesa gold-mining opportunity. Video: Darlene Creamer.

Gold steadies as investors weigh slowing virus spread, vaccines

By: Bloomberg     15th February 2021 Gold steadied as investors weighed the slowing pace of coronavirus infections, as well as immunisation programmes globally and the impact on growth. Platinum surged to a fresh-six-year high. The pace of the outbreak in the US continued to ease as the week-to-week average hit the lowest in almost... 

PGMs-linked hydrogen production on way with local electrolysers, 12J funding  

By: Martin Creamer     15th February 2021 South African company Hydrox Holdings of Randburg is developing an advanced alkaline electrolyser to supply what it describes as “huge hydrogen demand”. The zero gap system will be the first locally produced electrolyser for South Africa and Africa, Hydrox states in a media release to Mining Weekly. 

Hydrox Holdings CEO Corrie de Jager
Photo by Creamer Media
Hydrox Holdings CEO Corrie de Jager

Mitsubishi Materials completes Chile's Mantoverde copper mine stake deal

By: Reuters     12th February 2021 Japan's Mitsubishi Materials Corp said on Friday it had completed its purchase of a 30% stake in Chile's Mantoverde copper mine from Mantos Copper for $275-million. Japan's third-biggest copper smelter also said $520-million in project finance had been completed. The $275-million investment... 

Alluvial diamond miners outline way to save fast-shrinking industry  

By: Martin Creamer     11th February 2021 The number of alluvial diamond operators is decreasing at an alarming rate. In 2004, there were 2 000 small diamond-mining companies, which employed close to 25 000 people, and now there are only about 200 operators employing only 5 000 people – a 90% decline. 

South African Diamond Producers Organisation national executive committee member Amo Marengwa
The South African Diamond Producers Organisation is interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

JP Morgan sees commodity supercycle already kicking off

By: Bloomberg     11th February 2021 Oil and other commodities have probably entered a so-called supercycle as a post-pandemic economic rebound and swelling inflation spark expectations of rising demand, according to JPMorgan Chase & Co. A new multi-year boom appears likely, given investor desire to hedge against inflation and a... 

Black Rock and POSCO ink paperwork

By: Esmarie Iannucci     11th February 2021 Korean major POSCO and ASX-listed Black Rock Mining have completed the paperwork for POSCO’s $7.5-million investment, inking a subscription and umbrella agreement. Shareholders of Black Rock mining are expected to meet within the coming weeks to vote Black Rock’s plans to issue more than... 

WPIC says there is a ‘growing market’ for platinum in hydrogen adoption 

By: Simone Liedtke     10th February 2021 It is estimated that green hydrogen could supply up to 25% of the world’s energy needs and become a $10-trillion addressable market, says the World Platinum Investment Council (WPIC). This is underpinned by the recent emergence of strong green hydrogen-focused national hydrogen strategies,... 

Vision Blue helping world to achieve green dream with high-return prospects for investors  

By: Martin Creamer     10th February 2021 The world’s energy transition away from fossil fuels is a phenomenon that is not dependent on any assumptions about gross domestic product (GDP) growth or countries urbanising or industrialising. It is a phenomenon driven by international consensus that the carbon footprint of the world has to be... 

Sir Mick Davis
Sir Mick Davis interviewed by Mining Weekly’s Martin Creamer about Vision Blue Resources. Video: Darlene Creamer.

Copper traders hunt for more good news after longest rally slows

By: Bloomberg     10th February 2021 Copper is on the cusp of its longest rally on record, but the metal seen as a global economic bellwether has recently stumbled -- and traders are watching Washington and Beijing for clues to the next leg up. Traders and leading investors say the market needs more good news before prices can rip... 

New certification opens doors for Tirupati Graphite

By: Simone Liedtke     10th February 2021 Specialist graphite producer and graphene developer Tirupati Graphite’s group company Tirupati Speciality Graphite (TSG) has been accorded the Registration, Evaluation, Authorisation and Restriction of Chemicals (Reach) certification for its range of expandable graphite products for marketing and... 

Possible impact of Myanmar coup on China's metal and rare earth supply

By: Reuters     10th February 2021 Myanmar's military coup and declaration of a state of emergency has sparked concern in neighbouring China over metal and mineral supplies amid already high tin, copper and rare earth prices. Below is a description of trade flows from Myanmar to China, the world's top metals consumer, with... 

BHP pledges $15m to decarbonise the steel industry

By: Esmarie Iannucci     10th February 2021 Diversified miner BHP has signed a memorandum of understanding (MoU) with Japanese steel producer JFE Steel to jointly study technologies and pathways capable of making material reductions to greenhouse-gas emissions from the integrated steelmaking process. BHP on Wednesday said that it was... 

China’s recovery points to Lunar New Year boost for gold demand

By: Bloomberg     10th February 2021 China’s economic recovery from the coronavirus pandemic may offer some solace to gold bulls, with expectations building that jewelry demand will rebound following last year’s wipe out. Jewelry retailers on the mainland have reported strong sales in recent months, while concerns over infection... 

China’s recovery points to Lunar New Year boost for gold demand

Africa's miners and winemakers toast China's row with Australia

By: Reuters     10th February 2021 For South African winemaker Vergenoegd Löw, the pandemic could have been a disaster but a bitter trade war between China and Australia has thrown the 325-year-old estate a lifeline. Bottles of its reds, whites and roses piled up when South Africa banned alcohol sales under a strict lockdown and... 

Mongolia seeks more tax revenue from Rio copper mine expansion -source

By: Reuters     9th February 2021 Mongolia wants more tax revenue under a revised deal to expand Rio Tinto's Oyu Tolgoi copper-gold mine rather than a larger ownership stake in the project, a person with direct knowledge of the government's thinking told Reuters on Monday, as the two sides bid to resolve a long-running standoff... 

Mongolia seeks more tax revenue from Rio copper mine expansion -source

Platinum group metals outlook: constrained supply, very strong demand growth – WPIC  

By: Martin Creamer     8th February 2021 The outlook for platinum group metals (PGMs) is one of constrained supply and very strong demand growth. “You’ve got the entire PGMs suite that is short and that certainly will translate into tight markets,” World Platinum Investment Council (WPIC) Director of Research Trevor Raymond told Mining... 

World Platinum Investment Council Director of Research Trevor Raymond
World Platinum Investment Council Director of Research Trevor Raymond interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

A new commodities boom beckons when pent-up demand is unleashed

By: Bloomberg     8th February 2021 The eventual end of the coronavirus pandemic is likely to herald a consumption boom, piling pressure on precarious supply chains and boosting raw material prices, according to the Merchant Commodity Fund. “There’s a huge amount of pent-up demand in the consumer pocket,” said Doug King, head of... 

Weekly Coal Index Report

8th February 2021 SA coal prices enjoyed a volatile week, initially selling off in tandem with the rest of the market, before rallying strongly after Transnet’s force majeure declaration, owing to weather conditions from tropical storm Eloise. RBCT stocks are currently around 2.8Mmt, with around 10 vessels... 

Weekly Coal Index Report

Mongolia seeking pact with Rio Tinto to end copper mine expansion - FT

By: Reuters     8th February 2021 Mongolia's government is seeking an agreement from miner Rio Tinto to terminate a deal to expand the Oyu Tolgoi copper mine in the Gobi Desert, the Financial Times said, citing people with knowledge of the situation. The government has asked the Anglo-Australian mining giant whether it was... 

Mongolia seeking pact with Rio Tinto to end copper mine expansion - FT
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