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Asia News

Barrick joins forces with junior in Japan

By: Creamer Media Reporter      25th February 2020 TSX-V-listed junior Japan Gold has announced the formation of a country-wide alliance with gold major Barrick Gold to jointly explore, develop and mine certain mineral properties and projects in Japan. The alliance covers 28 of the 30 projects currently held by Japan Gold, which will only advance... 

Gold zooms toward $1 700 as virus fuels a ‘plethora’ of concerns

By: Bloomberg     24th February 2020 Gold rose toward $1 700 an ounce, extending its rally to the highest in more than seven years, as investors pile into haven assets amid mounting worries that the coronavirus could turn into a global pandemic. Italy’s financial hub is in virtual lockdown as the outbreak spread further outside... 

Gold zooms toward $1 700 as virus fuels a ‘plethora’ of concerns

‘Everybody is on edge’ with worry on virus – Freeport CEO

By: Bloomberg     24th February 2020 The coronavirus “took the legs out” of copper’s rally and is rattling everyone from miners to equipment suppliers, according to the head of the world’s largest publicly traded producer of the metal. “Everybody is on edge, and they’re taking it very seriously and the uncertainty around it,”... 

‘Everybody is on edge’ with worry on virus – Freeport CEO

Freeport's Adkerson pours cold water on Barrick Grasberg tie-up

By: Reuters     24th February 2020 Freeport McMoRan is not interested in pulling the trigger on a deal for its Grasberg copper-gold mine in Indonesia, president and CEO Richard Adkerson said on Monday, tamping down speculation of a tie-up with Canadian miner Barrick Gold. “Now’s just not the time for Freeport to think about doing... 

Freeport's Adkerson pours cold water on Barrick Grasberg tie-up
Freeport McMoran CEO Richard Adkerson

ONGC likely to report production decline

By: Ajoy K Das     24th February 2020 Indian State run oil, gas exploration and production (E&P) major ONGC is expected to report 3.4% decline in production during current financial year, closing on March 31, 2020. According to a company official, during the first nine months of the financial year, ONGC’s production was maintained... 

Prospective coal block bidders seek bundled approvals

By: Ajoy K Das     24th February 2020 Large Indian coal consuming companies planning to enter commercial coal mining have asked the government to bundle mandatory approvals before putting up blocks for auction. The companies made a presentation at a recent meeting where government sought input from various stakeholders on best... 

AngloGold’s Dushnisky appointed World Gold Council chairperson 

By: Simone Liedtke     24th February 2020 AngloGold Ashanti CEO Kelvin Dushnisky has been appointed the World Gold Council’s new chairperson. He succeeds David Harquail, who has served as chairperson since 2017. 

AngloGold’s Dushnisky appointed World Gold Council chairperson
AngloGold Ashanti CEO Kelvin Dushnisky

With gold surging, miners face payouts versus production dilemma

By: Bloomberg     24th February 2020 As gold prices rise, miners have been boosting shareholder payouts in the face of a decline in global output. That’s worrying some investors concerned about the long-term growth prospects of an industry built on a depleting resource. The value of gold, a haven commodity, is driven more by global... 

With gold surging, miners face payouts versus production dilemma

New offer emerges for Alto

By: Esmarie Iannucci     24th February 2020 The share price of junior Alto Metals surged by more than 80% on Monday as the company weighs its options regarding a possible bid from fellow-listed Goldsea Australia Mining. Goldsea, which is an Australian wholly-owned subsidiary of Shandong Goldsea Group, at the end of last week announced... 

Solar power for mines under consideration – Assore 

By: Martin Creamer     21st February 2020 A scoping study is under way into the self-generation of electricity for Assmang’s mines – but not its smelters, Assore CEO Charles Walters said on Friday, when the company reported interim results that were negatively affected by weaker chrome and manganese prices, and lower shipments of... 

Solar power for mines under consideration – Assore
Photo by Assore
Assore's mines and logisitcs routes

Gold pops as virus concerns ignite global stampede into havens

By: Bloomberg     21st February 2020 The stars have aligned for gold, as concerns that the coronavirus outbreak may damage growth, hurt risk assets and add to pressures for easier monetary policy trigger a global hunt for havens. Bullion headed for the biggest weekly gain in more than six months as prices hit a seven-year high. With... 

India’s Coal Ministry to fund CIL technical wing to increase exploration activity

By: Ajoy K Das     21st February 2020 The Indian government has framed a scheme to offer funds to the technical and consultancy arm of State miner Coal India Limited (CIL) to expand exploration activities so that more fully explored coal blocks could be put up for auction for bidding by private miners. Under the scheme, Central... 

Rio Tinto turns to arbitration to settle Mongolia tax dispute

By: Mariaan Webb     21st February 2020 Diversified major Rio Tinto said on Friday that its Mongolian unit, Oyu Tolgoi, had initiated a formal international arbitration process to seek a definitive resolution with regard to a dispute with that country’s tax authority. The Mongolia Tax Authority issued Rio Tinto with a tax assessment... 

Price-hit Assore half-year earnings down, interim dividend upheld 

By: Martin Creamer     21st February 2020 JSE-listed base mineral and metals miner Assore, which on Friday reported net cash at a lower level of R8.1-billion, has declared an interim dividend of R7 a share for the half-year. Headline earnings for H1 FY20 decreased by 28% to R2,1 billion, compared to R2,9 billion for the H1 FY19. Assmang,... 

Price-hit Assore half-year earnings down, interim dividend upheld
Photo by Creamer Media
Charles Walters

FutureSmart, P101 earn Anglo $4.7bn

By: Martin Creamer     20th February 2020 The smart technology and efficiency enhancing programmes of diversified mining company Anglo American have netted the company $4.7-billion so far. FutureSmart Mining (TM) programmes deliver additional value from equipment and processes and P101 uplifts the performance of existing operating... 

FutureSmart, P101 earn Anglo $4.7bn
Photo by Anglo American
Playing precisely to the demand for a cleaner, greener and more sustainable world.

Anglo’s earnings margins poised to strengthen – Cutifani 

By: Martin Creamer     20th February 2020 The strong 2019 earnings margins of Anglo American are poised to strengthen further in 2020, CEO Mark Cutifani said on Thursday. The 2019 earnings before interest, taxes, depreciation and amortisation (Ebitda) margins of the London- and Johannesburg-listed diversified mining company ranged from... 

Anglo’s earnings margins poised to strengthen – Cutifani
Photo by Anglo American
Anglo American calculates that these earnings margins will increase in 2020.

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani 

By: Martin Creamer     20th February 2020 Anglo American CEO Mark Cutifani on Thursday described the building of the world’s largest hydrogen fuel cell haul truck in Limpopo as a great initiative that would in time be rolled out across the platinum group metals (PGMs), diamonds, copper and iron-ore mining company. Hydrogen fuel cell... 

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani
Photo by Anglo American
Four-part forward thrust.

Ethical engagement rings that are truly eco-friendly, guilt-free

By: Bloomberg     20th February 2020 When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the Internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced.  After... 

Bill Gates-led fund invests in making lithium mining more sustainable

By: Bloomberg     20th February 2020 Breakthrough Energy Ventures, helmed by Bill Gates, and MIT’s The Engine fund are leading an investment round of $20-million for Lilac Solutions, a US startup aimed at making the extraction of lithium less water-intensive and more sustainable. As the world looks to cut carbon emissions, people... 

Anglo delivers $3.5bn profit, declares final dividend 

By: Martin Creamer     20th February 2020 Diversified mining company Anglo American delivered 2019 profit attributable to equity shareholders of $3.5-billion, in line with the prior year. The company, headed by CEO Mark Cutifani, generated underlying earnings of $10-billion, a 9% increase, and $2.3-billion of attributable free cash flow. 

Anglo delivers $3.5bn profit, declares final dividend
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Price-spiking palladium must be substituted with platinum – Sibanye-Stillwater 

By: Martin Creamer     19th February 2020 It is incumbent on the end users to help platinum group metals mining companies to a position where the platinum price will not be destroyed, Sibanye-Stillwater CEO Neal Froneman said on Wednesday. Speaking during the presentation of superlative results, Froneman said the industry could not... 

Price-spiking palladium must be substituted with platinum – Sibanye-Stillwater
Photo by Creamer Media's Donna Slater
Neal Froneman

Very Proudly South African Sibanye-Stillwater set to take on world – Froneman 

By: Martin Creamer     19th February 2020 An upbeat Neal Froneman said on Wednesday that world would see his “very Proudly South African’ precious metals mining company Sibanya-Stillwater take on global companies across the world. Speaking after the relisting of the platinum group metals (PGM) and gold mining company at the Johannesburg... 

Very Proudly South African Sibanye-Stillwater set to take on world – Froneman
Photo by Creamer Media's Donna Slater
JSE CEO Dr Leila Fourie (left) and Sibanye-Stillwater CEO Neal Froneman.

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater  

By: Martin Creamer     19th February 2020 The next big disruptive technology will be hydrogen fuel cell technology, which is platinum rich, Sibanye-Stillwater CEO Neal Froneman said on Wednesday. Speaking ahead of half-year results of a 44% increase in revenue to R73-billion and a R432-million profit for 2019, Froneman stated that this... 

Hydrogen fuel cells the next big disruptive technology – Sibanye-Stillwater
Sibanye-Stillwater CEO Neal Froneman talks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer. Photographs: Donna Slater.

Sibanye-Stillwater delivers phenomenal 260% return – JSE 

By: Martin Creamer     19th February 2020 Top-performing Sibanye-Stillwater delivered a phenomenal return of 260% on the Johannesburg Stock Exchange in 2019, JSE CEO Dr Leila Fourie stated on Wednesday when the company relisted to the accompaniment of a rapid 5.3% early-afternoon soaring of its share price. From a Gold Fields spinoff... 

Sibanye-Stillwater delivers phenomenal 260% return – JSE
Photo by Creamer Media's Donna Slater
Sibanye-Stillwater's ceremony at JSE

China boosts first batch rare-earth mining quota for 2020

By: Bloomberg     19th February 2020 The coronoavirus outbreak isn’t damping appetite for rare-earth minerals in China. The country has increased the first batch of mining quotas for the strategic materials used in everything from electric vehicles to military hardware. The quota for six dominant producers, including China Northern... 

Moody’s expanded gold price range allows for flexibility in credit assessments

By: Marleny Arnoldi     19th February 2020 Ratings agency Moody’s has expanded its price sensitivity range for gold, based on supportive factors such as lower-for-longer interest rates and geopolitical uncertainties. Moody’s has increased the higher end of the sensitivity range by $100/oz to $1 400/oz, while the lower end of the range... 

Silvercorp resumes operations at China mines

By: Creamer Media Reporter      19th February 2020 Dual-listed Silvercorp Metals has resumed mining operations at its Ying and CG mines, following an extended holiday period shutdown in line with the Chinese government’s efforts to contain the spread of the coronavirus. Silvercorp’s production was suspended on January 17 for the Chinese New Year... 

Freeport Indonesia aims for August kick-off of construction on new copper smelter

By: Reuters     19th February 2020 Freeport Indonesia, operator of Grasberg, the world's second-biggest copper mine, expects to start construction of a new smelter in August, its chief executive said on Wednesday. Front-end engineering and design for the $3-billion smelter has been concluded and ground preparation is expected to... 

Gold tops $1 600 as virus fuels growth fears

By: Bloomberg     19th February 2020 Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus and how it’s impacting global growth. Palladium topped $2 700/oz as it continued its record-breaking rally. Bullion steadied after surging 1.3% Tuesday’s as Apple’s warning that the virus and efforts... 

South Africa’s Astron ‘a nice short to have for the trading business’ – Glencore 

By: Martin Creamer     18th February 2020 Glencore CEO Ivan Glasenberg on Tuesday described his company’s investment in Astron Energy oil refinery and fuel distribution station business in South Africa as “a nice short to have for the trading business”. The Chevron oil refinery in Cape Town and the Caltex brand now fall under Astron... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve 

By: Martin Creamer     18th February 2020 Climate-friendly energy transition metals, copper, cobalt and nickel, stole the limelight during Glencore’s presentation of 2019 results on Tuesday, when the company revealed that it would be depleting its coal reserves in line with the global move towards a low-carbon economy. Presenting... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve
Photo by Bloomberg
Ivan Glasenberg

Alderon adds second Chinese partner to Kami mine

By: Mariaan Webb     18th February 2020 Beijing-headquartered diversified group Tunghsu has signed a letter of intent to acquire a 26% to 38% interest in the Kami Mine Limited Partnership (Kami LP) from Alderon Iron Ore for between $15-million and $23-million, the TSX-listed iron-ore company announced on Tuesday. Tunghsu will be the... 

Alderon adds second Chinese partner to Kami mine

India’s NMDC firms up capex to lift production by 50%

By: Ajoy K Das     18th February 2020 Indian State-run miner NMDC, the country’s largest iron-ore producer, has firmed up capital investments of $324-million to increase production by 50% to 48-million tons a year by the end of 2020/21. The State miner is committing higher capital expenditure (capex) and is significantly ramping up... 

Glencore provides update on its transition to low-carbon economy

By: Martin Creamer     18th February 2020 JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore on Tuesday published an update on its performance in transitioning towards a low-carbon economy. This follows its climate change position statement of February 2019. 

Glencore provides update on its transition to low-carbon economy
Photo by Bloomberg
Ivan Glasenderg

Miners welcome Indonesia's new jobs bill that could spur coal growth

By: Reuters     18th February 2020 Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that the changes could underpin an expansion in polluting coal and threaten environment protection. President Joko Widodo's sprawling "Job Creation" bill... 

Modernisation, digitisation part of next value delivery – Amplats  

By: Martin Creamer     17th February 2020 Top of the list of the four focus areas of platinum group metals (PGM) mining company Anglo American Platinum (Amplats) to drive its next phase of value is operational efficiency. Outlining this at the company’s presentation of record financial and safety achievements, Amplats CEO Chris Griffith... 

Modernisation, digitisation part of next value delivery – Amplats
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Substitution outlook intensifies with platinum at half palladium price ­– Amplats 

By: Martin Creamer     17th February 2020 With the price of platinum at half of the palladium price, the concept of replacing palladium with platinum in some gasoline catalyst convertors is increasingly likely to occur – but not in the very short term, outgoing Anglo American Platinum (Amplats) CEO Chris Griffith said on Monday.... 

Substitution outlook intensifies with platinum at half palladium price ­– Amplats
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith  

By: Martin Creamer     17th February 2020 The introduction of hydrogen fuel cell mining in response to climate change is poised to cut the greenhouse gas emissions of platinum group metals mining company Anglo American Platinum by 30%. A large enabler of this significant reduction is the introduction of hydrogen fuel cell mining trucks,... 

Hydrogen fuel cell mining set to cut Amplats’ greenhouse gas emissions – Griffith
Mining Weekly’s Martin Creamer on Anglo American Platinum’s results. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.
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