R/€ = 17.21 Change: -0.17
R/$ = 16.50 Change: -0.21
Au 1810.70 $/oz Change: 15.76
Pt 892.00 $/oz Change: 2.00

Asia News

Former Finance Minister Nene chair, Gomwe CEO of MC Mining

By: Martin Creamer     28th April 2022 The board of MC Mining has appointed former Finance Minister Nhlanhla Nene as chairperson and former Anglo Coal leading light Godfrey Gomwe as CEO of the London AIM-, Sydney ASX- and Johannesburg JSE-listed South African coal exploration, development, and mining company. The key projects of MC... 

St Barbara maintains full-year aspirations

By: Esmarie Iannucci     28th April 2022 Gold miner St Barbara has reported a stable quarter of production in the three months to March, with the company maintaining its full-year production targets. During the March quarter, St Barbara produced 62 000 oz of gold, down slightly from the 66 000 oz produced in the December quarter, with... 

Commodities to stay elevated on Ukraine war, World Bank says

By: Bloomberg     27th April 2022 Food and energy price surges worsened by the Ukraine war could last through the end of 2024 due to disruptions in trade and production, the World Bank Group said Tuesday. Increase in energy prices, which has reached the largest since the 1973 oil crisis, is expected to pass 50% in 2022 before... 

Commodities to stay elevated on Ukraine war, World Bank says

Sinosteel, Deen Holdings merger gets the green light

By: Marleny Arnoldi     26th April 2022 The Competition Tribunal has given the go-ahead for Chinese State-owned Sinosteel Group Corporation to merge with Deen Holdings Corporation, by way of Sinosteel solely controlling Deen. However, the tribunal approved the merger with conditions relating to employment and the promotion of a... 

Petra Diamonds exploring responsible Koffiefontein exit 

By: Martin Creamer     26th April 2022 Diamond company Petra is exploring a responsible exit from its investment in the Koffiefontein diamond mining operations. The exit would be carried out together with its black economic empowerment partners Kago Diamonds and its Itumelang employee trust, the London Stock Exchange-listed company... 

Wimbledon opts for platinum to mark Queen’s jubilee, centre court centenary 

By: Martin Creamer     26th April 2022 In the year of the Queen of England’s platinum jubilee, the coins to be used in the Wimbledon ladies’ and gentlemen’s singles finals coin toss will be made of platinum for the first time in the championships’ history. This follows last month’s unveiling by the UK Royal Mint of its largest ever... 

Image supplied by WPIC
Platinum coin to be tossed at Wimbledon.

Copper to iron-ore rebound as China vows to support economy

By: Bloomberg     26th April 2022 Industrial metals from copper to iron-ore recouped some of Monday’s losses after China pledged more support to help revive an economy that’s been imperiled by an escalating virus outbreak. The country’s central bank vowed to increase monetary support to the real economy, especially for... 

Copper to iron-ore rebound as China vows to support economy

Palladium sheds nearly 13% on worries over China demand hit

By: Reuters     25th April 2022 Palladium prices fell nearly 13% on Monday as China's Covid-led lockdowns soured the demand outlook for the autocatalyst, while looming US interest rate hikes took the shine off gold. Spot palladium fell 10.6% to $2 122.21 per ounce by 10:19 a.m. ET (1419 GMT), after hitting its lowest since... 

Japan's SMM abandons Pomalaa nickel project in Indonesia

By: Bloomberg     25th April 2022 Japan's Sumitomo Metal Mining (SMM) said on Monday it has decided to discontinue a long-running feasibility study on a nickel processing plant project in Pomalaa, Indonesia because of a disagreement with its partner PT Vale Indonesia INCO. The Japanese miner and smelter had been working on the... 

New Limpopo diamond mine on cards 

By: Martin Creamer     25th April 2022 An evaluation carried out by Botswana Diamonds has firmed up the possibility of a diamond mine being developed at the company’s Thorny River property in South Africa’s Limpopo province. The analysis indicates potential opencast options, the London-Aim and Botswana Stock Exchange-listed company... 

Permission from Stelzer via his colleague James Campbell to use this picrtue.
Photo by Botswana Diamonds
Botswana Diamonds MD James Campbell

Russia’s war is turbocharging the world’s addiction to coal 

By: Bloomberg     25th April 2022 In Germany and Italy, coal-fired power plants that were once decommissioned are now being considered for a second life. In South Africa, more coal-laden ships are embarking on what’s typically a quiet route around the Cape of Good Hope toward Europe. Coal burning in the US is in the midst of its... 

Russia’s war is turbocharging the world’s addiction to coal

Indonesia raises coal royalty rate to range of 14% to 28%

By: Reuters     22nd April 2022 Indonesia on Monday raised its royalty rate for coal miners from a single tariff of 13.5% to a range of 14% to 28% dependent on government-set coal benchmark prices, a change miners said could impact future investment. The maximum royalty applies to general sales when prices breach $100 per... 

Mining giants struggle despite commodities price boom

By: Bloomberg     22nd April 2022 The world’s biggest miners had a tough start to the year, struggling to hit production goals and keep costs under control in the face of Covid-19 disruptions and global inflationary pressures. Fresh from record profits, and with many commodities still trading at or near all-time highs, the... 

Mining giants struggle despite commodities price boom

China confirms it will build extra coal mine capacity this year

By: Bloomberg     21st April 2022 China’s cabinet has confirmed that the addition of an extra 300-million tons of coal mining capacity will happen this year, a blow to shippers already contending with weaker Chinese imports. The authorities hadn’t previously given a timeline for the ramp up, which threatens to upend the global... 

Freeport-McMoRan's profit rises on higher copper prices

By: Reuters     21st April 2022 Copper miner Freeport-McMoRan on Thursday reported a jump in first-quarter profit, as supply worries bolstered prices of the red metal. Prices of copper, a key metal used in wiring, electric vehicles and other electronics, rose about 7% in the first quarter on fears that Russia's invasion of... 

Chaarat Gold looking forward to ‘very green’ production out of Kyrgyz Republic  

By: Martin Creamer     21st April 2022 London Aim-quoted gold mining company Chaarat Gold is looking forward to “very green and sustainable gold production” coming out of the Kyrgyz Republic, where it is developing two gold projects. The of these first is Tulkubash, a near-term opencast heap leach project, and the second a far larger,... 

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

President Ramaphosa to deliver keynote address at Mining Indaba 2022

By: Martin Creamer     20th April 2022 President Cyril Ramaphosa will deliver a keynote address at the 2022 Investing in African Mining Indaba, which takes place in Cape Town from May 9 to 12. The attendance of Ramaphosa, who will speak on Tuesday, May 10, signals the continued importance of mining to the South African economy as a... 

Picture supplied.
President Cyril Ramaphosa.

China buys cheap coking coal from Russia as world shuns Moscow

By: Bloomberg     20th April 2022 China more than doubled imports of steel-making coal from Russia in March, procuring the fuel at a discount as other nations move to ban deliveries due to the war in Ukraine. Coking coal imports from Russia jumped to 1.4-million tons in March, compared to 590 000 t for the same month last year... 

An image of coal wagons

Siemens Gamesa buffeted by rising costs as turbine launch problems deepen

By: Reuters     20th April 2022 Siemens Gamesa is discussing raising prices for its wind turbines by more than a high single-digit percentage in some cases as it grapples with stubbornly lofty raw materials prices, CE Jochen Eickholt said on Wednesday. "For specific materials … steel, copper, others, we continue to observe... 

Geopolitical support for hydrogen evolution positive for platinum group metals 

By: Martin Creamer     19th April 2022 The overall geopolitical situation is lending strong support to the hydrogen evolution, which in turn continues to drive the demand for platinum group metals (PGMs). Hydrogen Europe and the European Clean Hydrogen Alliance are now calculating that 2030 will see the generation of 320 GW to 400 GW... 

Picture supplied.
Heraeus Precious Metals Executive VP New Business Development Dr Philipp Walter

Anglo positioning itself as favoured iron-ore supplier to green steelmakers  

By: Martin Creamer     14th April 2022 Diversified mining company Anglo American is taking steps to position itself as a favoured iron-ore supplier to green steel producers. 

Creamer Media picture.
Anglo American sustainability presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

B2Gold reports solid first-quarter performance

By: Mariaan Webb     14th April 2022 Canada-based B2Gold on Thursday reported solid performances from its three its operating mines, with each exceeding its budgeted production for the first quarter of 2022. Above The miner produced 196 472 oz from its three operating mines, which is 4% above target. Including attributable... 

Greater fuel cell adoption would be a massive boost for South Africa’s platinum group metals  

By: Martin Creamer     13th April 2022 The enactment by more governments of policies to enable greater hydrogen fuel cell mobility would be a massive boost for South Africa’s platinum group metals (PGMs) sector, Mining Weekly can today report. Adoption of hydrogen fuel cell mobility has already been significantly enabled by the German... 

Creamer Media picture
PGMs Industry Day webinar covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Indonesia aims to set up coal levy agency by June

By: Reuters     13th April 2022 Indonesia's government aims to establish a "special entity" by June to help secure coal supplies for the state power utility company and collect levies, energy minister Arifin Tasrif told parliament on Wednesday. Following a coal supply crunch at the start of the year that was blamed on miners'... 

Barrick eyes first production from Reko Diq by 2027

By: Mariaan Webb     13th April 2022 Toronto-listed miner Barrick Gold has outlined a revised plan for the Reko Diq copper/gold project, in Pakistan, proposing a $7-billion investment over two phases in a project that could deliver its first gold in five to six years. The new conceptual design, announced on Tuesday, comes as... 

An image of a mining project area in Pakistan

Desert Bloom attracts Japanese investment

By: Esmarie Iannucci     13th April 2022 Japanese energy giant Osaka Gas has entered into a joint development agreement at the $10.75-billion Desert Bloom hydrogen project, in the Northern Territory. The agreement will see Osaka Gas and Desert Bloom proponent, Aqua Aerem, jointly develop the project, which will produce some 410 000 t/y... 

Glencore, GM enter multi-year cobalt supply agreement 

By: Martin Creamer     12th April 2022 Diversified mining and marketing company Glencore and General Motors (GM) on Tuesday announced a multi-year sourcing agreement in which Glencore will supply GM with cobalt from its Murrin Murrin operation in Australia. The agreement represents initial strategic collaboration between the two... 

Picture from Glencore website.
Photo by Glencore
The Murrin Murrin operation in Australia.

India to face more power cuts due to coal shortage, soaring demand

By: Reuters     12th April 2022 India is likely to face more power cuts this year as utilities' coal inventories are at the lowest pre-summer levels in at least nine years and electricity demand is expected to rise at the fastest pace in at least 38 years, officials and analysts say. Power cuts could stifle industrial activity... 

The near-500% rally in lithium is showing cracks in China

By: Bloomberg     12th April 2022 Lithium is showing signs of losing momentum -- at least in China -- after a powerful rally that carried prices to what Elon Musk called “insane levels”. Chinese lithium carbonate, which has gained almost 500% in the past year, slipped slightly on Monday after steadying in the past week,... 

Western Australia overtakes Nevada as top mining destination, Zimbabwe ranks last

By: Mariaan Webb     12th April 2022 Western Australia is now the number-one address for mining investments, according to the latest Fraser Institute’s Survey of Mining Companies. Western Australia has moved up from fourth place and has dethroned the US state of Nevada, which last year topped the rankings. The results of the latest... 

An image of mining headgear

Palladium set to rally for years on shortages, top miner says

By: Bloomberg     11th April 2022 Prices of palladium and rhodium are poised to rally for years as a supply squeeze tightens for the metals that are key to curbing vehicle emissions, said the head of the world’s third-largest producer of platinum group metals Prices of palladium and rhodium -- that are used in catalytic... 

Clients planning to close many renewable energy project deals this year – Nedbank CIB  

By: Martin Creamer     11th April 2022 While Africa is blessed with great natural sun and wind resources, it has about 600-million people living without access to electricity, which is one of the biggest impediments to the continent’s economic growth. Renewable energy is available to put an end to this impediment, as it can provide... 

Picture supplied
Nedbank CIB Group Managing Executive Anél Bosman interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Pilbara ticks the boxes on POSCO JV

By: Esmarie Iannucci     11th April 2022 Lithium miner Pilbara Minerals has announced the satisfaction of all conditions precedent for the formation of a downstream joint venture (JV) with Korean major POSCO. The formation of the JV and completion of Pilbara Mineral’s initial 18% equity subscription in the JV company, with an option to... 

Hydrogen economy ‘incredibly exciting opportunity’, says Minerals Council’s Baxter 

By: Martin Creamer     8th April 2022 Mobility in mining is perfectly suited to kickstarting the domestic hydrogen adoption process, according to Minerals Council South Africa CEO Roger Baxter, who drew attention during the PGMs Industry Day conference to several mining companies that had already played a leadership role in the... 

Picture supplied.
Minerals Council South Africa CEO Roger Baxter.

Investors urge Rio Tinto to cut indirect emissions

By: Reuters     8th April 2022 Rio Tinto on Friday said climate change was at the heart of its new strategy, as shareholders at its first in-person annual general meeting (AGM) in two years in London demanded the miner set clear targets to cut indirect emissions. Rio Tinto recorded its best ever annual profit in 2021 and gave... 

Automated mining vehicles at Rio Tinto's mines

Turquoise Hill forms special committee to consider Rio Tinto buyout offer

By: Marleny Arnoldi     8th April 2022 Canada-based Turquoise Hill Resources has formed a special committee of independent directors to consider the proposal made by the company’s majority shareholder Rio Tinto International Holdings to buy out the remainder of shares in the company. Rio Tinto in March announced an unsolicited,... 

New lithium technology can help the world go green, if it works

By: Reuters     8th April 2022 Rio Tinto, General Motors and even the US Energy Department are investing heavily in a crop of newer technologies that could revolutionize the way lithium is produced for electric vehicle batteries. Now those technologies just have to prove they work on a commercial scale. 

China coal hub approves mega-mine that can produce for 97 years

By: Bloomberg     7th April 2022 Officials in the key Chinese coal mining hub of Ordos approved a massive mine that can produce 15-million tons annually and operate for nearly 97 years. The city’s natural resources bureau on April 2 gave a license to Lianhai Coal Industry to operate the Baijiahaizi mine, which covers about 170... 

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