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Asia News

Musk considers Indonesia trip to explore possible investments

By: Bloomberg     16th May 2022 Elon Musk, the world’s richest person, is considering a visit to Indonesia to explore investment opportunities in the resource-rich Southeast Asia country. The chief executive officer of Tesla and SpaceX met with Indonesian President Joko Widodo at the rocket manufacturer’s site in Boca Chica,... 

Things looking interesting for platinum despite surplus  

By: Martin Creamer     16th May 2022 What the World Platinum Investment Council (WPIC) is forecasting for 2022 is a reduced but still large platinum surplus of 627 000 oz. But this surplus is extremely vulnerable to the issues the WPIC thinks may play out, particularly: 

Picture supplied
World Platinum Investment Council Research Director interviewed by Mining Weekly's Martin Creamer. Video Darlene Creamer.

Copper wavers near $9 000 after fear-filled week for metals

By: Bloomberg     13th May 2022 Copper steadied and aluminum rose after a turbulent week for metals dominated by growing concerns over the state of the global economy. While metals markets were calmer Friday, prices have endured a dismal few days on fears about monetary tightening as well as demand from top consumer China.... 

LBMA, WGC advance pilot of Gold Bar Integrity initiative

By: Marleny Arnoldi     13th May 2022 The London Bullion Market Association (LBMA) and the World Gold Council (WGC) have selected two vendors, blockchain technology start-up companies Axedras and Peer Ledger, to participate in a pilot phase of the organisations’ Gold Bar Integrity initiative. The initiative is aimed at digitally... 

Global diamond trade fractures under the weight of Russia sanctions

By: Bloomberg     13th May 2022 Russia’s invasion of Ukraine is fracturing a billion-dollar trade that spans the permafrost-laden diamond mines of Siberia, secretive trade houses in Antwerp, dusty polishing powerhouses in India and New York’s glittering designer jewellery stores. Russian mining giant Alrosa supplies about a... 

Now you can own a fraction of a fancy coloured diamond

By: Bloomberg     13th May 2022 A new fractional ownership business centered on fancy colored diamonds will launch on May 18. Luxus, founded by hedge fund expert Dana Auslander and fashion journalist Gretchen Gunlocke Fenton, will debut with a first offering of a .54 carat fancy pink diamond. 

Metal demand seen surging for decades on strength of energy transition, World Bank says

By: Bloomberg     13th May 2022 Demand for metals used in everything from wind-turbine blades to batteries will surge for decades to come, driven by efforts to decarbonize the global economy and shift away from fossil fuels, according to the World Bank. Even as consumption growth for other commodities like grain probably will... 

Copper tumbles to 7-month low as slowdown fears rock markets

By: Reuters     12th May 2022 Copper prices tumbled on Thursday to their lowest in seven months and other industrial metals fell as traders worried that a slowing global economy would require less metal. With inflation surging and interest rates rising, growth fears also pushed down oil prices and stock markets hit a... 

Miners turn to bacteria and other new ways to leach copper from waste rock

By: Reuters     12th May 2022 Rio Tinto, Freeport-McMoRan and other global miners, spurred by rising prices and demand, are deploying a raft of new leaching technologies that can extract low concentrations of copper from waste rock and help avoid lengthy mine permitting delays. Copper prices have nearly doubled in the past... 

Eight submissions to progress in global innovation challenge

By: Esmarie Iannucci     12th May 2022 Mining majors BHP, Rio Tinto and Vale have selected eight technology innovators’ submissions to progress beyond the Charge On Innovation Challenge. The global challenge is aimed at accelerating the commercialisation of effective solutions for charging large electric haul trucks while... 

Image shows a mining dump truck and worker

Minimum of 14 000 jobs a year from South Africa’s first hydrogen corridor 

By: Martin Creamer     11th May 2022 South Africa’s first hydrogen corridor now under development has the potential to generate a minimum of 14 000 jobs, $400-million in gross domestic product and $900-million in taxes a year by 2050. In an addition, there is potential to grow platinum group metal (PGM) demand by between 1% to 2%... 

Creamer Media picture.
Photo by Creamer Media
Minerals Council hydrogen briefing from left Allan Seccombe, Roger Baxter and Fahmida Smith.

India eases green rules for coal mines to tackle fuel crisis

By: Reuters     11th May 2022 India has eased environment approvals for coal mine expansions to boost output amid fuel shortages that have triggered hours-long blackouts. Some existing sites will be able to raise production by a further 10% without requiring new impact assessments and rules on consulting local residents have... 

Diamond prices are spiking and even De Beers can't fill the gap

By: Bloomberg     11th May 2022 Prices are surging in some corners of the rough-diamond market, as sanctions on one of the world’s two giant miners ripple through the supply chain. In the past, the industry could turn to behemoth De Beers to crank out extra gems when supply ran tight — but not this time. The price of a small... 

An image of De Beers CEO Bruce Cleaver
De Beers CEO Bruce Cleaver

Chinese miners and battery makers team up in rush for lithium

By: Bloomberg     11th May 2022 Chinese miners and battery makers are forging closer ties as the accelerating shift to electric vehicles highlights the shortage of a metal that’s key to the clean-energy revolution. Lithium jumped more than 400% in China over the past year, unnerving Beijing and sparking a flurry of deals from... 

Minerals Council spells out members’ commitment to climate change mitigation 

By: Martin Creamer     11th May 2022 Members of Minerals Council South Africa have agreed to commit to a climate change response strategy that will reduce Scope 1 and Scope 2 emissions and achieve a net zero emission by 2050 or earlier. Minerals Council South Africa senior health and environment executive Nikisi Lesufi on Tuesday... 

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Photo by Creamer Media
Minerals Council South Africa senior health and environment executive Nikisi Lesufi, closest right, with Minerals Council's Allan Seccombe, left.

South Africa keen to harness hydrogen economy opportunities, President Ramaphosa tells Indaba  

By: Martin Creamer     10th May 2022 It was just amazing to see the innovation that the mining industry is capable of scaling up, President Cyril Ramaphosa told the Investing in African Mining Indaba in his enthusiastic address on Tuesday. “Last week, I attended the launch by Anglo American of the world’s largest hydrogen-powered... 

Creamer Media picture taken of screen
Photo by Creamer Media
President Cyril Ramaphosa at the Investing in African Mining Indaba.

Demand headwinds push aluminium to five-month low

By: Reuters     10th May 2022 Aluminium fell to its lowest in nearly five months on Tuesday as funds betting on lower prices due to slowing demand sold, but worries about output cuts in Europe because of high power costs are expected to provide some support. Traders said funds had been selling for some days now, initially to... 

Funds to restart Chatree secured - Kingsgate Consolidated

By: Esmarie Iannucci     10th May 2022 ASX-listed Kingsgate Consolidated has executed documentation for a $15-million bridge facility from Taurus Mining Finance Fund No 2, to support the refurbishment and restart of the Chatree gold mine, in Thailand. The first tranche of funds of $7.5-million due to be received by the end of this... 

Energy transition presents opportunity to build inclusive ecosystem – Wanblad 

By: Martin Creamer     9th May 2022 The energy transition currently under way presents a fresh opportunity for South Africa to build a clean and inclusive energy ecosystem that can create new and significant economic opportunities for the African continent. This continent, with its vast natural reserves of abundant sun and wind,... 

Picture supplied.
New Anglo American CE Duncan Wanblad

Indonesian president plans to meet Elon Musk over nickel - Minister

By: Reuters     9th May 2022 Indonesian President Joko Widodo is planning to meet Elon Musk during an upcoming US visit, a Minister said on Monday, as the Southeast Asian country seeks to accelerate development of its nickel industry to supply batteries for electric vehicles. Representatives of Musk's EV maker Tesla were... 

Kicking the China habit: South Korea hunts tungsten treasure

By: Reuters     9th May 2022  Blue tungsten winking from the walls of abandoned mine shafts, in a town that's seen better days, could be a catalyst for South Korea's bid to break China's dominance of critical minerals and stake its claim to the raw materials of the future. The mine in Sangdong, 180 km southeast of Seoul, is... 

Green hydrogen can be produced in South Africa immediately, coal conference hears

By: Martin Creamer     6th May 2022 The generation of green hydrogen is achievable in South Africa immediately and is not a complicated process, Sasol just transition office head David Kawesha said on Friday. “You just need the renewable energy resource, electrolysers to split water, and that’s really what the basic process is,”... 

Picture taken by Creamer Media
Photo by Creamer Media
McCloskey's Southern African Coal Conference panel from left moderator Randy Fabi, Tracey Davies, Steve Nicholls, Jan Oberholzer and David Kawesha.

Iron-ore futures slide as investors monitor demand in China

By: Bloomberg     6th May 2022 Iron-ore flipped to losses as risk aversion across financial markets escalated and investors assessed the demand prospects in top consumer China. Stocks slid with bonds Friday as inflation, rising borrowing costs and China’s virus lockdowns depressed sentiment. The outlook for iron ore is being... 

Only way to fix Eskom, Transnet is to work as SA Inc, conference hears 

By: Martin Creamer     6th May 2022 Putting South Africa’s 60-million people first and working as South Africa Incorporated – SA Inc – is the only way to solve the problems of this country’s biggest State-owned enterprises, Eskom and Transnet. This message was put out loudly and clearly during a panel discussion at McCloskey’s... 

Picture supplied
Sereti CEO Mike Teke

World Coal Association favours just energy transition to net zero future  

By: Martin Creamer     5th May 2022 The World Coal Association, and its member companies, are in favour of a just transition to a net zero future, World Coal Association chairperson July Ndlovu said on Thursday. In his keynote address to the Southern African Coal Conference, Ndlovu emphasised the sincerity of the association’s... 

Creamer Media photograph
Photo by Creamer Media
World Coal Association chairperson July Ndlovu

Gold Fields lifts first-quarter output despite macroeconomic challenges 

By: Darren Parker     5th May 2022 Despite facing various global challenges, JSE-listed gold miner Gold Fields achieved a 7% year-on-year increase in attributable equivalent gold production for the quarter ended March 31. While the 580 000 oz of gold produced in the quarter was 8% lower quarter-on-quarter, Gold Fields said it... 

Gold Fields CEO Chris Griffith
Gold Fields CEO Chris Griffith

OM Holdings invests $120m for bigger stake in Sarawak smelter

By: Esmarie Iannucci     5th May 2022 ASX-listed OM Holdings has made a $120-million offer to acquire the remaining 25% interest in Malaysian operating subsidiaries OM Sarawak and OM Samalaju. OM Holdings, through its wholly owned subsidiary OM Materials, currently owns a 75% interest in both of these companies, with joint venture... 

Barrick Gold taking final steps towards developing large ‘super tier one’ copper/gold project in Pakistan 

By: Martin Creamer     4th May 2022 "It’s not just tier one. This is a super tier one,” says Barrick Gold president and CEO Dr Mark Bristow of the proposed Reko Diq project, one of the largest undeveloped copper-gold porphyry deposits in the world. Bristow is scheduled to meet Pakistan’s new prime minister later this month to... 

Barrick Gold CEO Dr Mark Bristow
Barrick Gold CEO Dr Mark Bristow

Cash-flush Barrick Gold funding reintroduction of white rhinos to DRC national park 

By: Martin Creamer     4th May 2022 Gold mining company Barrick Gold, which has just reported an outstanding set of first quarter financial results, is funding the reintroduction of white rhinos to the Democratic Republic of Congo (DRC), where it mines at Kibali Gold Mine. Since agreement on the repatriation of revenue from Kibali... 

Screenshot of Barrick map.
Barrick Gold restoring rhino to park near Kibali mine.

Barrick Gold Q1 profit beat estimates, doubles dividend

By: Reuters     4th May 2022 Miner Barrick Gold doubled its quarterly dividend on Wednesday after reporting first-quarter profit above Wall Street expectations, on the back of higher gold and copper prices. Gold, traditionally seen as a safe haven to invest in during times of financial uncertainty, rose above $2 000/oz in... 

An image of Barrick CEO Mark Bristow
Barrick CEO Mark Bristow

Glencore's human rights record worst in green metals, group says

By: Bloomberg     4th May 2022 Glencore has the worst human rights record among miners of metals used in renewable energy, the Business & Human Rights Resource Centre said in a report. The alleged abuses attributed to all companies range from attacks on activists to violations of environmental laws to forced relocations.... 

Nickel Mines readies for first revenue from Angel

By: Esmarie Iannucci     3rd May 2022 ASX-listed Nickel Mines has been granted an Izin Usaha Industri (IUI) or Industrial Business Licence at its 80%-held Angel Nickel project, in Indonesia, allowing it to start commercial sales of nickel. First sales from Angel Nickel is now being targeted for later this month. 

South Africa would do well to highlight its key iridium status to world that needs this very rare metal  

By: Martin Creamer     3rd May 2022 South Africa would do well to highlight its key iridium supply status to gain the full confidence of a world that requires this very rare platinum group metal (PGM) to advance the fast-moving hydrogen economy. Iridium is a potent co-roleplayer with PGM stalwart platinum when it comes to... 

Creamer Media picture
SFA Oxford CEO Henk de Hoop interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Rich nations scramble to seal coal transition deals before COP27

By: Bloomberg     3rd May 2022 As they prepare for the next round of global climate talks in November, officials from rich countries are trying to pull together a series of multibillion-dollar packages to help poor countries phase out coal. But negotiations have been snarled by national politics and Russia’s war in Ukraine,... 

Truck transporting coal

Cokal readies for start at BBM

By: Esmarie Iannucci     2nd May 2022 ASX-listed Cokal has mobilised its mining contractor to the Bumi Barito Mineral (BBM) mine, in Indonesia. Cokal said on Monday that the mobilisation was part of the final preparations to start mining and production at BBM. Mining is currently scheduled to start on July 28. “This is the most... 

World lacks time, not minerals for climate-saving technology

By: Bloomberg     29th April 2022 The world isn’t cutting greenhouse gas emissions with anything like the speed required to avoid the most dangerous effects of climate change, as the latest United Nations climate report published this month affirmed. Despite this, it’s become a trope of sorts to warn that we’re in danger of going... 

World lacks time, not minerals for climate-saving technology

Implats reports 6% lower refined production amid challenging operating landscape 

By: Martin Creamer     29th April 2022 The gross refined production of platinum group metals (PGM) mining company Implats declined by 6% to 2.35-million ounces in the nine months to March 31, when sales volumes of 2.38-million ounces were 4% lower than the prior comparable period. “The operating landscape continues to be challenging,”... 

Picture supplied.
Implats CEO Nico Muller

Peru evictions enter second day at halted Las Bambas mine

By: Reuters     29th April 2022 Peruvian police evicted indigenous protesters from MMG's Las Bambas copper mine for a second day on Thursday, as they disperse a camp set up on company property, an adviser to the community told Reuters. The action at the Chinese-owned Las Bambas, which supplies 2% of the world's copper, follows... 

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