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Asia News
China’s imports have shifted platinum into global deficit, says independent consultant 
By: Martin Creamer 29th March 2022 China’s importation of platinum has shifted platinum’s supply balance into deficit, says independent precious metal consultant Dr David Davis. Supply-and-demand forecasts presented to the market are not giving the complete picture, Davis contends in a 17-page analysis published by Singapore-based... →
LBMA, WGC collaborate to develop blockchain-backed gold bar integrity programme
By: Donna Slater 29th March 2022 Independent precious metals authority the London Bullion Market Association (LBMA) and gold authority the World Gold Council (WGC) plan to collaborate to develop and implement an international system of gold bar integrity, chain of custody and provenance – the Gold Bar Integrity Programme. Over... →
Lake Resources gets offtake interest from Japan
By: Esmarie Iannucci 29th March 2022 Lithium developer Lake Resources has inked a non-binding memorandum of understanding (MoU) with Japan’s Hanwa Co. for the supply of up to 25 000 t/y of lithium carbonate over a ten year period. The MoU would allow for a minimum 15 000 t/y offtake from Lake Resource’s Lake Kachi lithium project,... →
Nickel Mines brings another furnace online
By: Esmarie Iannucci 29th March 2022 ASX-listed Nickel Mines has started the commissioning of the third of four rotary kiln electric furnace (RKEF) lines at its 80%-owned Angle nickel project, in the Indonesia Weda Bay Industrial Park (IWIP). Having announced the maiden nickel pig iron (NPI) tap from the first RKEF line in late... →
Green hydrogen energy supply to local communities envisaged by Anglo
By: Martin Creamer 28th March 2022 The green hydrogen footprint being developed by Anglo American could be extended to provide low-cost and efficient energy to local communities. Anglo, which is advancing towards using green hydrogen to replace diesel in the huge haul truck it is building at Anglo American Platinum’s Mogalakwena... →
Anglo American CEO Mark Cutifani.
Weekly Commodities Market Wrap
28th March 2022 Coal markets continue to stabilise, with the back end of the curve having come up significantly in recent weeks. A great opportunity for coal producers to start locking in some forward pricing. Crude oil prices are looking tired, with Brent struggling to hold the $120 mark. With no shortage of... →
India leans toward continued import of Russian coking coal - Minister
By: Reuters 28th March 2022 India is leaning toward continuing to import coking coal from Russia, the steel minister said on Sunday, seeming to buck a global trend to shun Moscow over its invasion of Ukraine. "We are moving in the direction of importing coking coal from Russia," Ramchandra Prasad Singh told a conference in... →
Peru community plans opposition to Las Bambas mine expansion
By: Reuters 28th March 2022 A Peruvian community has threatened to oppose the expansion of MMG's major Las Bambas copper mine, according to a document seen by Reuters, hinting at a new flashpoint for the project shortly after the state approved the increase in production. Located in the Apurimac region of southern Peru,... →
Morgan Stanley flags EV demand destruction as lithium soars
By: Bloomberg 25th March 2022 Electric vehicle battery makers will need to raise prices by almost 25% due to soaring lithium carbonate prices, leading to crimped margins and possibly demand destruction, according to Morgan Stanley. Chinese prices for lithium carbonate, the key ingredient in many batteries, have jumped... →
Bokoni platinum mine is large, high-grade opportunity, says African Rainbow Minerals
By: Martin Creamer 25th March 2022 The Bokoni platinum group metals (PGM) mine being acquired for R3.5-billion by African Rainbow Minerals (ARM) hosts South Africa’s second largest PGM resource, with ready-built mining and processing plant infrastructure on site. Bokoni provides greater exposure to palladium and is close to ARM’s... →
Platinum group metals miner Implats commits R50bn to five-year capital programme
By: Martin Creamer 24th March 2022 Platinum group metals (PGMs) mining and marketing company Implats affirmed at the South African Investment Conference on Thursday that it would commit close to R50-billion to its Southern African capital investment programme over the next five years. The investment capital would be targeted at... →
Implats CEO Nico Muller and President Cyril Ramaphosa at the investment conference
World needs to double efforts to limit warming to 1.5 ºC by 2050 – WoodMac
By: Schalk Burger 24th March 2022 The world is facing its biggest challenge yet in its journey towards net-zero emissions and needs to double-down on plans to achieve the goal of limiting the rise in global temperatures to within 1.5 °C above preindustrial levels by 2050, natural resources market research company Wood Mackenzie... →
IEA wants mandate broadened to include critical minerals to avert new Russia-like vulnerabilities 
By: Terence Creamer 23rd March 2022 The head of the International Energy Agency (IEA) has called for an expansion of the organisation’s mandate and membership to enable it to support the global transition to a “clean and secure” energy future and to ensure that the world’s climate goals do not become “another victim of Russia’s... →
Hydrogen development expected to create up to 60 000 new jobs – Mjwara
By: Martin Creamer 23rd March 2022 Green hydrogen development in South Africa has the potential to generate up to 60 000 new jobs in the next ten to 15 years, said Department of Science and Innovation (DSI) director-general Dr Phil Mjwara during a televised interview on SABC News. Mjwara expressed confidence that the R15-million... →
Science and Innovation Department DG Dr Phil Mjwara
Japan to trial first hydrogen fuel cell train
By: Tasneem Bulbulia 23rd March 2022 Passenger rail operator JR East, formerly East Japan Railway, will begin safety testing the country’s first hydrogen-powered train at the end of the month, industry body the World Platinum Investment Council reveals. The Hybari train has been developed with Hitachi and Toyota Motor, with the... →
Renewable-energy projects Merafe’s 2022 focus, says CEO Zanele Matlala 
By: Martin Creamer 22nd March 2022 The focus of ferrochrome company Merafe Resources in 2022 will be on renewable energy projects, along with efficient operations, cash management and well-ordered capital allocations, CEO Zanele Matlala said on Tuesday. The year 2021 has been one of spectacular recovery for the Glencore Merafe... →
Coal buyers in India are paying 300% premiums to secure fuel
By: Bloomberg 22nd March 2022 Indian coal prices have surged in auctions held by the country’s state-run miner, with domestic buyers rushing to secure supplies as global disruptions push up the cost of imported fuels. Customers paid Coal India an average premium of more than 340% above baseline prices in two sales this... →
Cash-flush ferrochrome producer Merafe declares dividend on record profit
By: Martin Creamer 22nd March 2022 The year 2021 was a year of recovery for the Glencore Merafe Pooling and Sharing Venture, both from a financial and operational perspective. JSE-listed Merafe, headed by CEO Zanele Matlala, reported on Tuesday that Improved economic activity had contributed to robust demand for ferrochrome,... →
Merafe Resources CEO Zanele Matlala
Posco to invest $4bn in lithium project in Argentina
By: Bloomberg 22nd March 2022 South Korean steelmaker Posco said on Monday it will invest $4-billion in a new lithium mining project in Argentina, as the company seeks to tap into soaring demand for the key rechargeable battery metal. The announcement came right after the company met with local government officials. The... →
Parliaments must act swiftly to reduce climate change – Mapisa-Nqakula
By: Martin Creamer 22nd March 2022 National Assembly speaker Nosiviwe Mapisa-Nqakula on Monday urged heads of the world's Parliaments gathering at the 144th plenary assembly of the Inter-Parliamentary Union to undertake all necessary efforts to deal with climate change through oversight and the constitutional powers of the... →
Lithium battery capacity to grow five-fold - Woodmac
By: Esmarie Iannucci 22nd March 2022 Advisory firm Wood Mackenzie (Woodmac) has flagged a potential five-fold increase in global cumulative lithium-ion battery capacity, to 5 500 GWh between 2021 and 2030. Woodmac on Tuesday said that the Asia Pacific region, led by China, accounted for 90% of the world’s battery manufacturing in... →
Barrick reaches restart agreement at Reko Diq
By: Esmarie Iannucci 21st March 2022 NYSE and TSX-listed Barrick Gold has flagged the possible restart of its Reko Diq copper/gold project, in Pakistan, after reaching a framework agreement with the Pakistan and Balochistan governments. Operations at Reko Diq were suspended in 2011 due to a dispute over the legality of its... →
Australian METS gets backing into India
By: Esmarie Iannucci 21st March 2022 The federal government on Monday unveiled a A$1.5-million government program to create new export opportunities in India for Australia’s mining equipment and services (METS) companies. Minister for Resources and Water Keith Pitt said Tthe Global Mining Challenge - India will identify key... →
Turquoise Hill investor Pentwater says $2.7bn Rio bid too low - letter
By: Reuters 18th March 2022 Activist investor Pentwater Capital Management, the largest minority shareholder of Canada's Turquoise Hill with a 10% stake, has rejected a $2.7-billion bid for the copper producer by Rio Tinto as too low. Anglo-Australian Rio Tinto on Monday proposed to buy out the 49% minority shareholders in... →
Anglo partnership secures 100% renewable energy supply for South Africa operations
By: Martin Creamer 18th March 2022 Diversified mining and marketing company Anglo American has signed a memorandum of understanding with global renewable energy company EDF Renewables to work together towards developing a regional renewable energy ecosystem in South Africa. The regional renewable energy ecosystem is expected to be... →
Now’s the time for full energy freedom, says green hydrogen stalwart Andrew Forrest
By: Martin Creamer 17th March 2022 Let’s give energy sovereignty to the world. Renewable energy is everywhere. Every country can produce it. Now is the time to capture it, and have full energy freedom, enthused Fortescue Metals Group nonexecutive chairperson Andrew Forrest, while being interviewed by CNN anchor Christiane... →
Fortescue Metals Group nonexecutive chairperson Andrew Forrest (right), being interviewed by CNN anchor Christiane Amanpour.
Metals sector urged to seize South Africa’s beckoning Steel Master Plan opportunity
By: Martin Creamer 16th March 2022 South Africa’s historic metals sector employer organisation on Wednesday urged all the sector’s employer bodies to roll up their sleeves on May 19 and 20 and get their teeth into the Steel Master Plan, which is seen to have promising reindustrialisation elements. President Cyril Ramaphosa... →
Markets must adapt to lack of Russian, Ukrainian commodities, Glencore says
By: Reuters 16th March 2022 Global commodity markets will need to adapt to a lack of supply from Russia and Ukraine, global miner and commodities trader Glencore said in its annual report on Wednesday. "Over time, global commodity trade flows will need to adapt to some or all of Russian/Ukrainian supply being unavailable,... →
The global fight over chips is only going to get worse
By: Bloomberg 16th March 2022 Magdeburg in former East Germany is famous for its towering gothic cathedral, and not a lot else. It’s now about to play a key role in US and European efforts to tilt the global balance of power. Intel Corp. unveiled plans on March 15 to build a giant, €17-billion factory making cutting-edge... →
Senex shareholders back POSCO play
By: Esmarie Iannucci 16th March 2022 The shareholders of takeover target Senex Energy this week voted in favour of a takeover by Korean major POSCO International, through its consortium K-A Energy 1, which is offering A$4.60 a share for each Senex share held. Senex this week said that more than 93% of votes cast by shareholders at... →
Sipho Nkosi’s red tape cutting role crucial to encourage investment – Menar
By: Martin Creamer 15th March 2022 The appointment of mining stalwart Sipho Nkosi to cut red tape is crucial to encourage new investment and expand existing investment in South Africa, says Menar MD Vuslat Bayoglu, whose private investment company has about R1.5-billion worth of investment being delayed by regulatory processes.... →
New coal mine projects seen swelling global methane emissions by a fifth
By: Reuters 15th March 2022 Global methane emissions from the extraction of coal could rise by as much as 21.6% if all new mining projects now under development go into operation, according to a research report by US environmental group Global Energy Monitor. The report said methane emissions from the world's coal mines... →
Ukraine war boosting gold as a safe-haven asset
By: Marleny Arnoldi 15th March 2022 The Russian invasion of Ukraine is another event in recent years that has sparked an uptick in demand for gold as a safe-haven asset, as investors adopt a risk-off sentiment in uncertain times. Research agency Fitch Solutions Country Risk & Industry Research has revised upwards its gold price... →
Terramin inks exploration deal with Jogmec
By: Esmarie Iannucci 15th March 2022 ASX-listed Terramin Australia has struck a A$10.5-million exploration agreement with Japan Oil, Gas and Metals National Corporation (Jogmec) on the South Gawler Ranges project, in South Australia. Under the terms of the agreement, Jogmec will fund an initial A$7.5-million in exploration over... →
Equivalent of a Koeberg arising in solar projects – AmaranthCX
By: Martin Creamer 14th March 2022 The equivalent of a Koeberg power station is arising in the form of new largely mine-linked private-sector solar power photovoltaic projects across Southern Africa, according to AmaranthCX director and founder Paul Miller, whose company is working on the second edition of its electronic map of... →
Weekly Commodities Market Wrap
14th March 2022 ENERGIES - Coal markets had a wild ride last week, with Richards Bay Coal Terminal physical prices reaching a high of around $450/mt, before coming back down to around $380. As we said previously, this was likely to be the high water mark with the most desperate utilities covering in the spot... →
China seeks to cut reliance on coal imports with mining boom
By: Bloomberg 14th March 2022 China plans a massive increase in coal mining, a move that will dramatically reduce its reliance on imports and deal a blow to its near-term climate actions. The National Development and Reform Commission (NDRC), the nation’s top economic planner, told officials from major mining regions at a... →
Palladium’s wild rally at risk from recession later this year
By: Bloomberg 14th March 2022 Palladium’s wild ride following Russia’s invasion of Ukraine is likely not over yet. But this year’s stunning gains are looking fragile on signs exports will be maintained and that demand from automakers could suffer. The metal -- about 40% of which is mined in Russia -- shot to a record high... →
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