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Asia News

World’s top mining companies committed to climate change solutions – ICMM 

By: Martin Creamer     13th May 2020 Twenty seven of the world's leading mining and metals companies and 36 associations are committed to climate change solutions through their membership of the International Council on Mining and Metals (ICMM), Mining Weekly can today report. The ICMM is an international organisation dedicated to a... 

Rio Tinto sees changes ahead 

By: Esmarie Iannucci     13th May 2020 Mining major Rio Tinto is bracing for a changed market environment post Covid-19. CEO Jean Sebastian-Jacques told delegates on the Bank of America Global Metals, Mining and Steel Conference that the mining industry would need to transform to operate and thrive in a post pandemic reality. 

Rio Tinto sees changes ahead
Photo by Bloomberg
Rio Tinto CEO Jean Sebastian-Jacques

Fitch Solutions expects most metal markets to move into a surplus this year

By: Simone Liedtke     13th May 2020 Most metals markets are expected to move into a surplus this year, says research firm Fitch Solutions, noting that consumption is likely to decrease more than the decreases in production capacity, as a result of the spread of Covid-19. Although some operational hurdles, owing to government... 

Anglo delivering through volatile times with $14.5bn liquidity  

By: Martin Creamer     12th May 2020 How Anglo American is ‘delivering through volatile times’ was outlined on Tuesday  at Bank of America’s virtual global metals, mining and steel conference, where it reiterated its strong liquidity position of $14.5-billion, made up of $6.9-billion in cash and $7.6-billion in undrawn committed... 

Anglo delivering through volatile times with $14.5bn liquidity
Photo by Anglo American
Anglo American's FutureSmart MiningTM is an innovation-led approach to sustainable mining.

Indonesia passes new mining law revisions, met with praise and protest

By: Reuters     12th May 2020 Indonesia's parliament passed revisions to its mining law on Tuesday that will allow miners to extend permits and seek expansion of mining areas beyond current legal limits. Other parts of the law are also largely in line with mining rules under a proposed sweeping "omnibus" bill, aimed at... 

Indonesia passes new mining law revisions, met with praise and protest
The Grasberg mine, in Indonesia.

Climate-smart mining tech even more important in a Covid-19 context – World Bank

By: Marleny Arnoldi     12th May 2020 The production of minerals such as graphite, lithium and cobalt could potentially increase by 500% by 2050 to meet the growing demand for clean energy technologies, the World Bank reports. In a report, titled 'Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition',... 

Kodal’s Bougouni test work demonstrates overall recovery of up to 83%

By: Tasneem Bulbulia     11th May 2020 Minerals exploration and development company Kodal Minerals has recorded encouraging initial test results of the bulk sample of pegmatite-hosted lithium mineralisation from the Bougouni lithium project in southern Mali. The test work was completed by Shandong Shengli Environment Protection... 

Gold price exceeding $2 000/oz would not surprise me – Dushnisky 

By: Martin Creamer     11th May 2020 There is every chance that the gold price could exceed $2 000/oz, said AngloGold CEO Kelvin Dushnisky on Monday. Answering journalists’ questions during a virtual media roundtable, Dushnisky said that a gold price higher than $2 000/oz would not come as a surprise to him at all. 

Gold price exceeding $2 000/oz would not surprise me – Dushnisky
Photo by Bloomberg
Kelvin Dushnisky

China raps State miner Minmetals for renewed environmental failures

By: Reuters     11th May 2020 China's environment ministry on Monday called on China Minmetals Corp to improve implementation of environmental protection measures and oversight of subsidiaries in a less than glowing report on the state-run metals producer's compliance. As it looks to clean up heavy industry in China, the... 

Brazil's Vale sees a 'very vigorous' economic recovery in China

By: Reuters     11th May 2020 Brazil's Vale is seeing a "very vigorous" economic rebound in China, the iron-ore miner's principal export market, CFO Luciano Siani said during an online event hosted by newspaper Valor Economico on Friday. "Industrial activities [in China] are practically at their normal levels.... Civil... 

Carmakers urged to invest in mines to avoid battery metal pinch

By: Bloomberg     11th May 2020 Mine developers scrambling to fund projects to meet forecast demand for battery metals see the threat of looming supply crunches as a trigger for electric-vehicle makers to step in with investments. An already tough environment to raise project finance for the mines is being made worse by the... 

China’s Shandong Gold to buy TMAC, securing Hope Bay future

By: Mariaan Webb     8th May 2020 China’s Shandong Gold Mining (SD Gold) has agreed to buy Canada’s TMAC Resources, securing continued investment in the remote Hope Bay mine, in Nunavut. SD Gold will acquire all the outstanding shares of TMAC at C$1.75 a share in cash, which the Canadian company said on Friday was a 52% premium... 

China’s Shandong Gold to buy TMAC, securing Hope Bay future

Iron-ore prices to remain resilient – Fitch

By: Tasneem Bulbulia     8th May 2020 Research firm Fitch Solutions Country Risk and Industry Research, which is a unit of Fitch Group, has maintained its  iron-ore price forecast at $85/t for this year, as prices remain resilient compared with other metals on the back of the Covid-19 pandemic. The firm says stronger Chinese steel... 

Lion ferrochrome smelter, Eastern Chrome mines restart – Merafe 

By: Martin Creamer     8th May 2020 Operations at the Lion ferrochrome smelter and Eastern Chrome mines of the Glencore Merafe Chrome Venture have recommenced, but the Boshoek, Rustenburg, Wonderkop, Lydenburg smelters and Kroondal mine will remain on care and maintenance until the macroeconomic environment improves, Merafe... 

Lion ferrochrome smelter, Eastern Chrome mines restart – Merafe
Photo by Creamer Media
The Lion ferrochrome plant, which uses 37% less electricity.

Mining industry faces a new reality amid and beyond Covid-19

By: Marleny Arnoldi     8th May 2020 The global mining industry is facing a new reality amid the Covid-19 pandemic, with measures to curb the spread of the virus impacting on economies, mining operations and their supply chains, manufacturing industries, the general public and, consequently, the demand for minerals and metals. As... 

Mining industry faces a new reality amid and beyond Covid-19

Rio Tinto dodges climate reporting fire, but issue unlikely to go away

By: Reuters     7th May 2020 Rio Tinto shareholders in Australia voted on Thursday against forcing the miner to set targets for the emissions of its steel-making customers, but the issue is unlikely to go away as more than a third supported the motion. Investors have been pushing for corporate giants to cut back their... 

Rio Tinto dodges climate reporting fire, but issue unlikely to go away

ArcelorMittal sees signs of virus low point as lockdowns ease

By: Bloomberg     7th May 2020 ArcelorMittal withdrew its closely watched global steel guidance because of the coronavirus pandemic, but sounded a relatively upbeat tone as lockdown restrictions start to ease. While ArcelorMittal likened the suddenness of the virus impact to the global financial crisis, it looked forward to... 

China is virtually alone in backing Africa’s coal projects

By: Bloomberg     7th May 2020 For more than two decades, Zimbabwe has been trying to break ground on a giant coal-power complex by the world’s biggest man-made reservoir. China just agreed to get the $4.2-billion project underway. The development near the southern shore of Lake Kariba is good news for Zimbabwe, where a... 

China is virtually alone in backing Africa’s coal projects
The Kariba dam on the Lake Kariba.

Glencore to host webcast ahead of closed AGM

By: Marleny Arnoldi     7th May 2020 Diversified miner Glencore has announced that its annual general meeting (AGM) will be held on June 2. However, owing to Covid-19 restrictions, it will be a closed meeting and shareholders will not be able to physically attend.  

While Barrick scans new horizons its strength is at home 

By: Mariaan Webb     7th May 2020 Mining major Barrick Gold is building its future around its existing big operations. But the five-million-ounce-a-year Canadian miner, which is already on the ground in all the world's major gold destinations other than Russia and East Europe, is also looking to new horizons. 

While Barrick scans new horizons its strength is at home
Barrick Gold CEO Mark Bristow

Harmony to raise $200m as rand gold price nears all-time high 

By: Martin Creamer     6th May 2020 Gold mining company Harmony Gold intends raising $200-million equity capital to fund the first tranche payment of its acquisition of the remaining South African assets of AngloGold Ashanti. Harmony FD Boipelo Lekubo said in response to Mining Weekly during a conference call on Wednesday that the... 

Harmony to raise $200m as rand gold price nears all-time high
Photo by Creamer Media's Donna Slater
Harmony Gold FD Boipelo Lekubo

Barrick trims 2020 guidance over PNG dispute, earnings jump 

By: Mariaan Webb     6th May 2020 Gold major Barrick has withdrawn its full-year guidance for the Porgera mine after it placed the operation on care-and-maintenance late last month, amid a dispute with the Papua New Guinea government over the renewal of a 20-year special mining lease. The decision means that the... 

Barrick trims 2020 guidance over PNG dispute, earnings jump
Photo by Porgera JV
The Porgera mine in Papua New Guinea is owned a joint venture between Canada's Barrick Gold and China's Zijin Mining.

Barrick’s Bristow receives massive vote of confidence 

By: Martin Creamer     6th May 2020 Barrick Gold Corporation on Wednesday announced that the nominees listed in the information circular for the 2020 annual meeting of shareholders were elected as directors of Barrick. Detailed results of the vote for the director’s election shows that Dr Mark Bristow, who has still to reach his... 

Barrick’s Bristow receives massive vote of confidence
Photo by Blomberg
Mark Bristow

Steel production likely to stagnate or decline this year, says Roskill 

By: Simone Liedtke     5th May 2020 Steel production in developed economies is likely to either stagnate, or decline completely, as the Covid-19 pandemic continues to influence and impact on the global economy, consultancy Roskill steel alloys principal consultant Erik Sardain said on May 5. Speaking in a webinar, he explained... 

Steel production likely to stagnate or decline this year, says Roskill
Roskill steel alloys principal consultant Erik Sardain discusses the impact of Covid-19 on the global steel industry. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

Top coal miner seeks loans as lockdown saps payments

By: Bloomberg     5th May 2020 Bharat Coking Coal, a unit of Coal India, the world’s largest producer, is planning a debt-raising to meet expenses, after payment curtailments by power generators led to a cash-squeeze, according to people familiar with development. The company, based in eastern Indian state of Jharkhand, is in... 

Central banks continue to buy gold as safe haven asset

By: Marleny Arnoldi     5th May 2020 The World Gold Council (WGC) says central banks have continued to be net purchasers of gold in March, adding 46 t to global reserves. However, central banks added 4% less gold to reserves compared with March last year.  

Ontario refinery aims to disrupt existing cobalt supply chain

By: Mariaan Webb     5th May 2020 TSX-V-listed First Cobalt has announced positive feasibility study results for its cobalt refinery expansion project, in Canada, marking a key milestone in its efforts to disrupt the existing cobalt supply chain. The study shows strong asset-level economics that position the refinery to be... 

Ontario refinery aims to disrupt existing cobalt supply chain

Neometals launches downstream study in India

By: Esmarie Iannucci     5th May 2020 ASX-listed Neometals has partnered with Indian company Manikaran Power to conduct a feasibility study (FS) evaluating a lithium hydroxide refinery in India. The FS would be based on a nominal capacity of 20 000 t/y of lithium hydroxide. 

Sulphide project at Simberi under review

By: Esmarie Iannucci     5th May 2020 Gold miner St Barbara will undertake a feasibility study (FS) into a sulphide project at its Simberi operation, in Papua New Guinea, after a prefeasibility study (PFS) proved positive. The PFS, which was completed in March this year, built on a 2016 PFS, and showed that the sulphide project... 

Amplats ramps up stricken smelter, force majeure to be lifted 

By: Martin Creamer     5th May 2020 The repair of the stricken Anglo Converter Plant (ACP) Phase B unit has been safely and successfully completed ahead of schedule, Anglo American Platinum (Amplats) said on Monday. Amplats' chain of processing facilities, as well as the ACP Phase B unit that was meant to replace it, was... 

Amplats ramps up stricken smelter, force majeure to be lifted
Photo by Amplats
A general view of the Anglo Converter Plant.

Young Diamantaires platform launched

By: Marleny Arnoldi     4th May 2020 The World Federation of Diamond Bourses (WFDB) has launched its Young Diamantaires website at The website has been built by WFDB members for use by the members, and the federation plans on expanding its functionality.  

Weekly Coal Index Report

4th May 2020 Financial coal markets enjoyed a relatively stronger week as some price consolidation occurred on API#4 around the $52.70 level. However, the physical discount also narrowed leading to slightly weaker RB1 prices, even as major mining houses such as Anglo and Glencore announced significant... 

Weekly Coal Index Report

Bushveld enhances liquidity, implements detailed Covid programme 

By: Martin Creamer     4th May 2020 Vanadium producer Bushveld Minerals, which on Monday provided an operational update on Bushveld Vanadium and Bushveld Energy for the three months to March 31, is implementing a detailed programme in response to the Covid-19 pandemic and drawing down its full R375-million of bank debt facilities... 

Bushveld enhances liquidity, implements detailed Covid programme
Photo by Creamer Media
Fortune Mojapelo

Big miners battle with limiting climate change - TPI

By: Esmarie Iannucci     4th May 2020 Only two of the world’s ten largest mining companies are aligned with limiting climate change to 2°C, new research by assessor The Transition Pathway Initiative (TPI) has found. Miners Freeport and Grupo Mexico have been identified as the two largest mining companies that had such low emissions... 

Big miners battle with limiting climate change - TPI

AVZ welcomes new Chinese shareholder

By: Esmarie Iannucci     4th May 2020 Lithium developer AVZ Minerals will raise A$10.6-milliion through a share placement to China’s Yibin Tianyi Lithium Industry, which will take a 9% stake in the Australian firm. Under the placement agreement, Yibin Tianyi will subscribe for 237.5-million shares in AVZ, priced at 4.5c each. While... 

Lynas restarts Malaysian plant

By: Esmarie Iannucci     4th May 2020 Rare earths miner Lynas on Monday restarted operations in Malaysia, after the government announced that nearly all economic sectors, including manufacturing, would be allowed to resume operations, as measures to prevent the spread of Covid-19 is relaxed. The company told shareholders that the... 

TerraCom moves to exit Mongolia

By: Esmarie Iannucci     4th May 2020 ASX-listed TerraCom has moved ahead with its plans to exit Mongolia, inking a binding term sheet to divest of its Baruun Noyon Uul (BNU) coal mine for $2. Under the terms of the agreement, Singapore-based buyer Bridge Resources will also accept a net $15-million of existing liabilities within... 

Gold bars fight Covid-19 kits for space on the plane

By: Bloomberg     4th May 2020 Swiss refiner Valcambi tried for five straight days last month to move a shipment of gold out of Hong Kong. Twice the metal was packed carefully onto a plane, only to be offloaded again. After daily attempts and numerous arguments, the gold suddenly arrived in Switzerland without warning, said... 

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