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Asia News

Egypt eyes gold rush with fresh exploration tender by March

By: Bloomberg     17th February 2020 Egypt will invite international gold-mining companies to take part in a new exploration tender after the North African country eased the rules to woo investors, according to a person familiar with the matter. The tender will be announced by early March, said the person, who asked not to be... 

Record-performing Amplats applying for 75 MW solar power at Mogalakwena

By: Martin Creamer     17th February 2020 Platinum group metals (PGMs) mining company Anglo American, which has reported record safety, record financials and the highest dividend in 15 years, has submitted an application to be allowed to self-generate 75 MW of solar power at its Mogalakwena mine where the world’s largest hydrogen fuel... 

Record-performing Amplats applying for 75 MW solar power at Mogalakwena
Photo by Creamer Media's Donna Slater
Chris Griffith

Chris Griffith to step down as Amplats CEO

By: Martin Creamer     17th February 2020 Anglo American Platinum (Amplats) CEO Chris Griffith is to step down as CEO of the company after seven years at the helm, the board of Anglo American Platinum said on Monday. The company announced that Griffith, who took Kumba Iron Ore to great heights before taking on Amplats, will also leave... 

Chris Griffith to step down as Amplats CEO
Photo by Creamer Media's Donna Slater
Chris Griffith

Coronavirus stalled First Quantum’s Zambian stake sale talks

By: Bloomberg     17th February 2020 The coronavirus has temporarily derailed talks to sell a minority stake in First Quantum Minerals’s Zambian operations, company executives said. The virus outbreak is preventing face-to-face meetings with potential Chinese buyers, postponing a sale that’s key to the Vancouver-based First... 

Coronavirus stalled First Quantum’s Zambian stake sale talks
First Quantum president Clive Newall

China’s massive car-sales slump threatens palladium’s rally 

By: Bloomberg     14th February 2020 A record 22% slump in China’s January car sales is threatening to derail the rally in palladium, used to curb emissions from vehicles. The precious metal generated a 59% return for investors last year, the most of any commodity tracked by a DCI BNP Paribas gauge. The rally was fueled by... 

Indian jewellery market increasingly preferring platinum over traditional gold

By: Marleny Arnoldi     14th February 2020 Platinum Guild International’s (PGI’s) February 2020 Insight report shines a light on how marketing can leverage shifts in demographics and steer consumer behaviour to create demand across consumer segments in India. PGI reports that India has become the fastest growing platinum jewellery... 

Robbery attempt prompts security step-up at South Deep – Gold Fields  

By: Martin Creamer     14th February 2020 Security is being stepped up at South Deep gold mine in Gauteng to present an even more resistant barrier to armed criminals, said Gold Fields executive vice-president Martin Preece said on Thursday. This action follows last year’s gold robbery attempt at the mine by machine-gun wielding gangsters. 

Robbery attempt prompts security step-up at South Deep – Gold Fields
Gold Fields EVP Martin Preece talks to Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Govt-mining industry cooperation at regional level very good – Gold Fields  

By: Martin Creamer     13th February 2020 The cooperation between the government and mines at regional level is very good, but where it falls down is at national level, Gold Fields CEO Nick Holland said on Thursday. Responding to Mining Weekly during a media roundtable at the JSE, Holland said that at the national level, there was... 

Govt-mining industry cooperation at regional level very good – Gold Fields
Gold Fields CEO Nick Holland questioned by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

IEA sees first global oil demand drop in a decade on coronavirus

By: Bloomberg     13th February 2020 Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China’s economy, the International Energy Agency said. The new estimates show that oil markets face a significant surplus despite the latest production cuts by OPEC and its partners. Crude... 

Lynas shares surge on media speculation

By: Esmarie Iannucci     13th February 2020 The share price of rare earths miner Lynas closed more than 8% higher on Thursday after media reports in Malaysia suggested that the company’s operating licence had been renewed in that country. The company on Thursday confirmed that there had been speculation on the Malaysiakini website... 

Gold Fields' output beats guidance, profit soars, dividends total 160c a share

By: Martin Creamer     13th February 2020 Gold mining company Gold Fields, which has declared a final dividend of 100 c a share, recorded 2019 production which exceeded guidance, along with lower costs and an increased dividend. Attributable 2019 gold equivalent production was 2 195 000 oz, an 8% increase, and all-in costs fell 9% to $1... 

Gold Fields' output beats guidance, profit soars, dividends total 160c a share
Photo by Creamer Media
Nick Holland

Barrick CEO sees no competition in his bid for Freeport's Grasberg mine

By: Reuters     12th February 2020 Barrick Gold CEO Mark Bristow on Wednesday said he sees no competition from rivals in his pursuit of Freeport-McMoRan's Grasberg copper/gold mine in Indonesia but cautioned any deal for the asset would take time to pull off. Bristow has fanned speculation that Barrick, the world's No. 2 gold... 

Barrick CEO sees no competition in his bid for Freeport's Grasberg mine
The Grasberg mine, in Indonesia.

PGM demand, prices likely to remain high this year

By: Marleny Arnoldi     12th February 2020 After resurgent demand pushed the platinum market into deficit in 2019, with the total volume of platinum under investment coming in at a record 3.4-million ounces at the start of this year, speciality chemicals company Johnson Matthey says the platinum market could move back into surplus this... 

Barrick ups dividend 40% as gold output hits top end of guidance

By: Martin Creamer     12th February 2020 “If you know where you’re going, you generally get there,” said Barrick CEO Dr Mark Bristow in response to Mining Weekly on Wednesday after the company presented convincing financial results that show that the New York- and Toronto-listed business is sure getting there under Bristow’s astute... 

Barrick ups dividend 40% as gold output hits top end of guidance
Photo by Creamer Media
Mark Bristow

'Green’ is king as ESG sweeps through mining world – DRDGold  

By: Martin Creamer     12th February 2020 Community members are being recruited to vegetate Johannesburg’s gold mine dumps as part of a dust suppression, environmental protection and ‘green’ imperative, DRDGold CEO Niël Pretorius said on Wednesday. In presenting a stupendously successful set of half-year results that saw operating profit... 

'Green’ is king as ESG sweeps through mining world – DRDGold
DRDGold CEO Niël Pretorius presenting from New York to Mining Weekly’s Martin Creamer. Video editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

DRDGold cock-a-hoop on ‘wonderful’ gold performance  

By: Martin Creamer     12th February 2020 Surface gold-mining company DRDGold is cock-a-hoop over its half-year performance, which saw it produce 3 t of gold from waste dumps on the East Rand and the West Rand in the six months to December 31. But the company is also continuing to work intently on tracking down the gang of armed robbers... 

DRDGold cock-a-hoop on ‘wonderful’ gold performance
DRDGold CFO Riaan Davel interviewed by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Video: Kutlwano Matlala. Photographs: Donna Slater.

India keen to import more coking coal from Russia and Mongolia

By: Ajoy K Das     12th February 2020 In a bid to lower its import dependency on Australian coking coal, the Indian government has opened up bilateral government-to-government negotiations with Mongolia and Russia to ship greater volume of the dry fuel suitable for its domestic steel mills. Government officials say that talks focus... 

India keen to import more coking coal from Russia and Mongolia

India employs UAVs to protect Chhattisgarh iron-ore mines

By: Ajoy K Das     12th February 2020 The Indian government has beefed up security in the central state of Chhattisgarh to increase protection of iron-ore mining assets in the region from threats posed by ultra-left-wing extremists. Besides increasing deployment of central paramilitary personnel, the new security protocol is based on... 

Rio Tinto says China virus slowing copper ore imports from Mongolia

By: Reuters     12th February 2020 Rio Tinto, operator of the giant Oyu Tolgoi copper-gold mine in Mongolia, said its copper concentrate shipments to China had slowed due to efforts by the authorities to contain the spread of the coronavirus. "We have advised customers that we are engaging with authorities who are working on... 

Vedanta sets sights on zinc, silver, iron-ore output growth 

By: Kim Cloete     12th February 2020 CAPE TOWN (miningweekly.com) – Natural resources company Vedanta Resources is aiming to become the world's biggest producer of zinc, as well as to double its production of silver and increase its iron-ore output from 10-million to 15-million tonnes a year.  Vedanta has a presence in steel,... 

Vedanta sets sights on zinc, silver, iron-ore output growth
Vedanta Resources executives tell Mining Weekly correspondent Kim Cloete about the group's growth plans and its corporate social investment initiatives. Video and editing: Nicholas Boyd.

Another step forward for world’s largest hydrogen truck at Mogalakwena

By: Martin Creamer     12th February 2020 Development of the world’s largest hydrogen-powered mine truck took another step forward this week. Autocar reports that Anglo American has engaged Williams Advanced Engineering to  help develop the new fuel cell electric vehicle that will be put through its paces at South Africa’s Mogalakwena... 

Another step forward for world’s largest hydrogen truck at Mogalakwena
Platinum group metals helping to fight climate change.

Harmony Gold decries attacks on gold plants  

By: Martin Creamer     11th February 2020 The spate of violent attacks on gold smelting plants is of great  concern, Harmony Gold CEO Peter Steenkamp said on Tuesday. There were 19 attacks on gold facilities last year in which two security personnel were murdered, according to Minerals Council South Africa. (Also watch attached Creamer... 

Harmony Gold decries attacks on gold plants
Harmony Gold CEO Peter Steenkamp interviewed by Mining Weekly’s Martin Creamer. Video & Video Editing: Darlene Creamer. Photograph: Donna Slater.

Harmony Gold poised to reduce debt significantly 

By: Martin Creamer     11th February 2020 Gold mining company Harmony expects to reduce debt significantly in the next 18 months to two years, outgoing financial director Frank Abbott said on Tuesday. The net debt position of the Johannesburg- and New York-listed company as at December 31 was R4 290-milllion, a decrease of R632-million... 

Harmony Gold poised to reduce debt significantly
Harmony Gold half-year presentation reported on by Mining Weekly’s Martin Creamer. Video & Video Editing: Darlene Creamer. Photograph: Donna Slater

Harmony Gold expects to have 30 MW solar plant year from now  

By: Martin Creamer     11th February 2020 Gold mining company Harmony expects to have a 30 MW solar power plant running in a year from now, provided all regulatory obstacles are removed. The company is also in discussion with Eskom to alleviate the impact of load-shedding. Harmony CEO Peter Steenkamp said during a media conference... 

Harmony Gold expects to have 30 MW solar plant year from now
Harmony Gold half-year presentation reported on by Mining Weekly’s Martin Creamer. Video & Video Editing: Darlene Creamer. Photograph: Donna Slater.

Wafi-Golpu discussions in Papua New Guinea to restart – Harmony 

By: Martin Creamer     11th February 2020 Discussions with the Papua New Guinea government on the special mining lease for the Wafi-Golpu Project are to be recommenced, Harmony Gold said on Tuesday. The resumption of the discussions comes a year after support for a memorandum of understanding (MOU), signed between the State of Papua New... 

Wafi-Golpu discussions in Papua New Guinea to restart – Harmony
Harmony Gold half-year presentation reported on by Mining Weekly’s Martin Creamer. Video & Video Editing: Darlene Creamer. Photograph: Donna Slater

World emissions kept in check as rich nations kick coal habit

By: Bloomberg     11th February 2020 Global emissions from energy held steady in 2019 for the first time in three years as developed nations continued to move away from coal power and toward renewable energy and natural gas. Even as the world economy grew, energy-related carbon dioxide emissions remained at 33.3-billion tons.... 

Safety-boosted Harmony reports higher revenue, earnings orbit

By: Martin Creamer     11th February 2020 Gold-mining company Harmony Gold on Tuesday reported its best-ever safety record in the six months to the end of December, when its  earnings rocketed and its revenue rise outperformed the same period last year. The JSE-listed company, headed by CEO Peter Steenkamp, reported a 6 325% increase in... 

Safety-boosted Harmony reports higher revenue, earnings orbit
Photo by Creamer Media
Peter Steenkamp

Singapore court finds diamond lab guilty of infringing Element Six patent

By: Marleny Arnoldi     10th February 2020 Synthetic diamond producer Element Six, part of De Beers Group, has welcomed the successful conclusion of its patent infringement lawsuit against a Singaporean diamond producer. The High Court of Singapore found that the Singaporean diamond producer had infringed an Element Six patent for... 

Singapore court finds diamond lab guilty of infringing Element Six patent

PGMs to play ever increasing roles in greener, cleaner world – Anglo Platinum 

By: Martin Creamer     10th February 2020 Platinum group metals (PGMs) mining company Anglo American Platinum is convinced that PGMs are poised to play increasingly significant roles in a greener, cleaner world, driven by favourable new opportunities presented by societal megatrends. Anglo American Platinum CEO Chris Griffith, who... 

PGMs to play ever increasing roles in greener, cleaner world – Anglo Platinum
The number of indirect jobs totals 90 000

Gulf ore supply to start in Feb

By: Esmarie Iannucci     10th February 2020 ASX-listed Gulf Manganese was expecting first manganese ore at its Kupang smelting facility, in Indonesia, during this month. The company in November of last year rejected an initial 100 t parcel of high-grade manganese from Sulawesi-based PT Arfa Indo Sarana, after the ore failed to meet the... 

BHP in talks to delay copper shipments to China

By: Bloomberg     10th February 2020 BHP Group, the world’s top miner, is in talks with Chinese customers to delay shipments of copper concentrates as the nation extended plant shutdowns to combat the spread of the coronavirus, according to people familiar with the matter. Suppliers are considering giving buyers in China... 

Gold extends gain after WHO chief’s ‘tip of the iceberg’ warning

By: Bloomberg     10th February 2020 Gold climbed for a fourth straight day as investors weighed the unfolding coronavirus crisis, including a blunt warning from the head of the World Health Organization about the potential for more cases beyond China. Prices rose as the global death toll from the outbreak topped 900 and the WHO... 

Japan's Mitsubishi Materials buys 30% stake in Chile copper mine

By: Reuters     10th February 2020 Japan's Mitsubishi Materials Corp (MMC) has bought a 30% stake in Mantoverde copper mine and an associated copper project from Mantos Copper for $236 million to secure more concentrates for its smelters, the company said on Friday. The mine, which has 2.1-million tonnes of copper reserves, is... 

Gold ETF investment continued rising in January

By: Marleny Arnoldi     7th February 2020 Global gold-back exchange-traded funds (ETFs) reached a new all-time high in January, at 2 947 t. ETFs and similar products added 61 t, or net inflows of $3.1-billion in January.  

Gold ETF investment continued rising in January

Mining sector found to be highly exposed to water risks 

By: Natasha Odendaal     7th February 2020 The mining sector has come out tops as the industry most likely to be affected most by the world’s worsening water crises, and South Africa’s mining sector is not immune. The World Wide Fund for Nature (WWF) has warned of the water risks facing the mining industry after an exhaustive analysis of... 

Mining sector found to be highly exposed to water risks

FIMI urges lower upfront payment for India’s commercial coal blocks

By: Ajoy K Das     7th February 2020 The Federation of Indian Mineral Industries (FIMI), the apex representative body of miners in the country, has sought a reduction in upfront payment at the auction of coal blocks for commercial mining. Submitting its comments on a discussion paper on the maiden auction of blocks for commercial... 

Silvercorp's third-quarter profits fall on foreign exchange loss, lower prices

By: Creamer Media Reporter      7th February 2020 Canadian miner Silvercorp, which produces silver, gold, lead and zinc from its mines in China, reported income attributable to equity shareholders of $6.3-million, or $0.04 a share for the quarter ended December 31 – the third quarter of its 2020 financial year. This was lower than income... 

De Beers Group’s ‘make life brilliant’ fostering best-in-class mining 

By: Martin Creamer     7th February 2020 De Beers Group Managed Operations MD responsible for South Africa and Canada, Nompumelelo (Mpumi) Zikalala, spoke to Mining Weekly this week about the highlights and one lowlight of her first nine months in office. 

De Beers Group’s ‘make life brilliant’ fostering best-in-class mining
Photo by Creamer Media
Nompumelelo (Mpumi) Zikalala,
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