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Asia News

Tianqi Lithium says weighing asset sales, strategic investors to slice debt

By: Reuters     17th April 2020 Tianqi Lithium, one of the world's top lithium producers, said on Friday it was exploring selling equity and assets, as well as bringing in strategic investors to address liquidity problems but that no agreements had yet been signed. The Chinese company, which is set to post heavy losses in... 

Impala CE granted bail after appearance on Covid-19 charge 

By: Martin Creamer     17th April 2020 The arrest of the chief executive of Implats' Implala Platinum Rustenburg mining operations was on Friday welcomed by the Mineral Resources and Energy Parliamentary chairperson Sahlulele Luzipo, who on Thursday called on law enforcement agencies to act decisively against mining executives who... 

Impala CE granted bail after appearance on Covid-19 charge
Photo by Creamer Media
Impala Platinum Rustenburg CE Mark Munroe

China to inspect tailings dams after leak accident in Heilongjiang

By: Reuters     17th April 2020 China will carry out a one-month long investigation into the hidden risks of tailings dams after a spill at a molybdenum miner last month, authorities said on Friday. Despite "an obvious improvement" in security conditions of tailings dams across China, the consequent leaks recently reflected... 

All at Implats to contribute up to third of pay to Covid-19 causes 

By: Martin Creamer     17th April 2020 Platinum mining and marketing company Implats said on Friday that it would be establishing a mechanism to enable members of its board, the group executive committee and all employees to donate up to one third of their salaries over the next three months. The donations, including those received... 

Minerals Council welcomes revised Covid-19 regulations

By: Martin Creamer     16th April 2020 The Minerals Council South Africa on Thursday welcomed the amendments to the Disaster Management Act regulations as they pertain to mining. These regulations allow a phase-up in mining capacity to 50% during the lockdown period, but with all the preventative and mitigating controls in place to... 

Minerals Council welcomes revised Covid-19 regulations
Minerals Council CEO Roger Baxter

Mining may resume at 50% capacity – Minister 

By: Martin Creamer     16th April 2020 All mining operations, excluding collieries supplying Eskom which have been permitted to operate at full capacity throughout national lockdown, may now resume at 50% capacity during the remaining lockdown days, Mineral Resources and Energy Minister Gwede Mantashe said on Thursday. Thereafter,... 

Mining may resume at 50% capacity – Minister
Photo by Veronica Creamer
Mineral Resources Minister Gwede Matashe during virtual media conference.

Gold giant Newmont says metal could top $2 000 on virus stimulus

By: Bloomberg     16th April 2020 Gold could top $2 000 an ounce and will remain elevated over the next five years as the global economy contends with the impact of the coronavirus pandemic, according to the head of Newmont, the world’s top miner of the precious metal. “The level of stimulus globally that’s going into the... 

Gold giant Newmont says metal could top $2 000 on virus stimulus
Newmont CEO Tom Palmer

Jupiter given approval for partial restart of manganese mine 

By: Martin Creamer     16th April 2020 Approval to restart operations partially at the Tshipi Borwa manganese mine has been granted to Tshipi é Ntle Manganese Mining by the Department of Mineral Resources and Energy, ASX-listed Jupiter Mines has announced. Tshipi Borwa mine is an opencast manganese mine in the Kalahari manganese field... 

Jupiter given approval for partial restart of manganese mine
Tshipi working with Transnet to coordinate exports.

AngloGold restarts surface operations on limited basis  

By: Martin Creamer     15th April 2020 The surface operations of gold mining company AngloGold Ashanti have restarted on a limited basis following the granting of recommencement permission by South Africa’s Department of Mineral Resources and Energy. The company said in a media release on Wednesday that the restart involved the... 

AngloGold restarts surface operations on limited basis
Photo by Bloomberg
AngloGold CEO Kelvin Dushnisky

Newmont sets up $20m Covid-19 support fund

By: Martin Creamer     15th April 2020 Gold mining company Newmont has established a $20-million community support fund to help host communities, governments and employees combat the Covid-19 pandemic. The New York- and Toronto-listed company, with operations in North America, South America and Australia and Africa, is partnering with... 

Newmont sets up $20m Covid-19 support fund
Photo by Bloomberg
Newmont CEO Tom Palmer

Mine shutdowns hang over market even as some look to restart

By: Bloomberg     15th April 2020 A number of miners, including some giants of the industry, have been forced to halt or curtail production and processing as governments worldwide implement measures to stem the spread of the coronavirus. Unprecedented disruptions to operations and supply chains have thrown the outlook for... 

Harmony Gold, NUM agree on May 2 return date 

By: Martin Creamer     15th April 2020 The National Union of Mineworkers (NUM) and gold mining company Harmony have to May 2 as the return-to work date following South Africa’s Covid-19 lockdown. This agreement followed a meeting at Harmony’s offices in Randfontein on Tuesday, NUM general secretary David Kolekile Sipunzi said in a... 

Harmony Gold, NUM agree on May 2 return date
David Kolekile Sipunzi

ERG to boost iron-ore sales to China as traditional markets shrink

By: Reuters     15th April 2020 The Kazakh iron-ore unit of mining and metals conglomerate Eurasian Resources Group (ERG) is increasing exports to China to offset declining demand in the former Soviet Union, the company said on Wednesday. Chinese consumers have confirmed they are ready to buy additional volumes of ore, ERG... 

Partial delisting of platinum debentures 

By: Martin Creamer     15th April 2020 More than a million platinum debentures were delisted at the start of JSE business on Wednesday, NewGold stated in a stock exchange news service (SENS) announcement. The delisting of 1 400 000 NewGold platinum debentures, or the NewPlat exchange traded funds (ETFs), had left 82 100 000 of the... 

Partial delisting of platinum debentures
Photo by Bloomberg
Platinum bar.

Blackstone exercises option in Vietnam

By: Esmarie Iannucci     15th April 2020 Junior Blackstone Minerals has exercised its option to acquire a 90% interest in the Ta Khoa nickel/platinum group metals project, in Northern Vietnam. The company in May last year inked an option agreement with owner AMR Nickel to acquire a 90% stake in the project, and under that agreement,... 

Medusa restarts Co-O

By: Esmarie Iannucci     15th April 2020 ASX-listed Medusa Mining has resumed operations at the Co-O gold mine, in the Philippines. Operations were temporarily suspended last week after the province in which the Co-O mine is located was placed under Enhanced Community Quarantine following an Executive Order issued by the Provincial... 

China’s EV slowdown deepens debt woes at top lithium supplier

By: Bloomberg     15th April 2020 The global health crisis has deepened financial troubles at one of China’s biggest producers of lithium used in electric vehicle batteries. The pandemic is set to batter this year’s demand for the material that’s vital in powering new energy transport. Prices are at four-year lows, and a... 

China’s EV slowdown deepens debt woes at top lithium supplier

BHP establishes petroleum Covid-19 fund

By: Esmarie Iannucci     15th April 2020 Major BHP on Wednesday announced that it would establish a $2-million fund to support communities in proximity to its petroleum operations in North America and Trinidad and Tobago, as part of its efforts to combat Covid-19. “BHP stands shoulder to shoulder with the communities where we operate.... 

Lynas applies for leeway in Malaysia

By: Esmarie Iannucci     15th April 2020 Rare earths miner Lynas has applied for approval to operate its Lynas Advanced Materials Plant, in Malaysia, as that country extends its lockdown amid the Covid-19 pandemic. Lynas in March temporarily suspended operations at its Malaysian plant as part of a country-wide initiative to halt the... 

Modi backs billionaire to restart mining in resort state of Goa

By: Reuters     15th April 2020 With Goa’s fabled beaches emptied by a nationwide lockdown to fight the coronavirus, the Indian state is about to witness an epic battle at the heart of the trade-off between reviving the economy and protecting the environment. On April 21, India’s Supreme Court is scheduled to begin hearing a... 

Surface gold operations at 70% of capacity – Pan African

By: Martin Creamer     14th April 2020 The surface operations of gold-mining company Pan African are functioning at 70% of normal production capacity, but with only 26% of the workforce, the company said in a stock exchange news service (SENS) announcement on Tuesday. The SENS notice stated that the surface remining and processing... 

Surface gold operations at 70% of capacity – Pan African
Photo by Creamer Media
Cobus Loots

China's rare earth exports leap in March after coronavirus-hit Jan, Feb

By: Reuters     14th April 2020 China's rare earth exports rose 19.2% year-on-year in March, customs data showed on Tuesday, hitting their highest since at least 2014 as a backlog of product was shipped, helping the industry rebound from a January-February slump due to the coronavirus outbreak. Exports totalled 5 551.4 t last... 

Glencore continues to engage to minimise Covid-19 impact

By: Martin Creamer     14th April 2020 Diversified mining and marketing Glencore is continuing to engage with authorities, labour unions and other stakeholders on steps to minimise the impact of Covid-19 on its operations. The London- and Johannesburg-listed company stated on Tuesday that its goal was to operate only when it could... 

Glencore continues to engage to minimise Covid-19 impact
Photo by Bloomberg
Ivan Glasenberg

Master Drilling announces new board nomination

By: Martin Creamer     14th April 2020 Hennie Faul, who has particularly deep insight into the copper mining industry in South America, has been nominated for appointment to the board of Master Drilling, which operates extensively in Latin America. JSE-listed Master Drilling stated in a stock exchange news service (SENS) announcement... 

Master Drilling announces new board nomination
Photo by Reuters
Hennie Faul

Weekly Coal Index Report

14th April 2020 Coal prices fell across the curve even as oil and gas prices stabilised somewhat. Physical RB1 is trading at a slight discount to paper, whilst the RB3 differential has blown out to around $16 as reduced demand from India for SA coal weighs on exports. The firm RBCT vessel queue is looking quite... 

Weekly Coal Index Report

Gold’s powerful rally brings $1 800 into view as spreads yawn 

By: Bloomberg     14th April 2020 Gold extended a rally to hit the highest level in more than seven years on concern that the coronavirus pandemic will have a devastating effect on the global economy, hammering corporate earnings while supercharging demand for havens. Bullion has soared as the outbreak tipped economies into... 

Gold’s powerful rally brings $1 800 into view as spreads yawn

MMG nixes Las Bambas copper mine guidance as virus curbs reduce supply

By: Reuters     13th April 2020 Australia-based MMG is formally withdrawing its 2020 production guidance for the Las Bambas copper mine in Peru, it said on Monday, after the South American country extended a state of emergency to contain the spread of coronavirus. The miner, which is majority owned by State-run China... 

MMG nixes Las Bambas copper mine guidance as virus curbs reduce supply

Oil little changed after historic Opec+ deal to cut production

By: Bloomberg     13th April 2020 Oil surrendered gains after rising in early trading as investors weighed whether an unprecedented deal by the world’s biggest producers to cut output would would be enough to steady a market pummeled by the coronavirus. Futures in London were down 0.4% after the Opec+ alliance agreed to a plan... 

Oil little changed after historic Opec+ deal to cut production

China’s ‘green zone’ coal price tested as virus fight continues

By: Bloomberg     13th April 2020 China’s coal prices have sunk to levels that threaten State intervention, but this time policy makers may refrain from doing so as they continue efforts to buttress the economy hurt by the coronavirus pandemic. The government will try to keep power prices low as it pushes to restart the economy,... 

Too early to comment on when mining will resume – Minerals Council

By: Martin Creamer     9th April 2020 Comment on when mining industry operations will resume is premature but what is certain is that when resumption does occur, it will not be business as usual, Minerals Council South Africa said on Thursday. Noting reports on the resumption of mining operations after 16 April, Minerals Council... 

Charter flights now insured to ship gold to ease supply logjam - LBMA

By: Reuters     9th April 2020 Insurance firms have started covering charter flights to carry gold, helping to ease logjams in the bullion supply chain that caused prices to diverge sharply in different markets, the London Bullion Market Association (LBMA) said on Thursday. Gold is usually moved between countries in the... 

Charter flights now insured to ship gold to ease supply logjam - LBMA

Glencore launches $25m support fund in response to Covid-19 

By: Martin Creamer     9th April 2020 Diversified mining and marketing company Glencore on Thursday announced the launch of a $25-million fund in response to the coronavirus pandemic. The fund will support the London- and Johannesburg-listed company’s teams that are working closely with governments, health agencies and others key... 

Glencore launches $25m support fund in response to Covid-19
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Govt permits Tharisa to continue to operate with fewer personnel 

By: Martin Creamer     9th April 2020 Chrome and platinum group metals (PGM) mining company Tharisa has received government permission to continue operating with a reduced number of personnel during the Covid-19 lockdown. Revealing this with its release on Thursday of second-quarter results for the three months to March 31, Tharisa... 

Govt permits Tharisa to continue to operate with fewer personnel
Photo by Creamer Media
Tharisa CEO Phoevos Pouroulis

Moody’s cuts outlook for steel industries further

By: Marleny Arnoldi     9th April 2020 Ratings agency Moody’s Investors Service already had negative outlooks for steel industries across the world, largely based on weak fundamentals in 2019, but the Covid-19 outbreak has made conditions worse and prompted the agency to cut the outlook for steel industries further. Moody’s says the... 

Gold ETFs hit record high in first-quarter surge – World Gold Council 

By: Martin Creamer     8th April 2020 The highest quarterly amount of exchange traded fund (ETF) gold ever in absolute US dollar terms, plus the largest tonnage additions since 2016, were realised in the first quarter of this year, the World Gold Council reported on Wednesday. First-quarter global gold-backed ETFs and similar... 

Gold ETFs hit record high in first-quarter surge – World Gold Council
Photo by Creamer Media
Gold bars

Chinese molybdenum miner halts production after tailings spill

By: Reuters     8th April 2020 Yichun Luming Mining, the owner of a tailings dam in northeast China that leaked last month, contaminating the local river system, has been ordered to suspend molybdenum production, according to a report on a provincial government website. The emergency management bureau in the city of Yichun in... 

Gold maintaining centuries old safe haven role – LBMA 

By: Martin Creamer     8th April 2020 By any measure, gold is maintaining its centuries old role as a safe haven and store of value in troubled times, London Bullion Market Association (LBMA) CEO Ruth Crowell stated on Tuesday. Figures for the first quarter of this year have boldly underlined gold’s continuing importance as a key... 

Gold maintaining centuries old safe haven role – LBMA
Photo by Creamer Media
London Bullion Market Association (LBMA) CEO Ruth Crowell.

Glencore's Mopani copper mines on care and maintenance 

By: Martin Creamer     7th April 2020 Copper mining company Mopani Copper Mines plc said on Tuesday that it had placed its mining operations on care and maintenance and a number of projects on hold. Mopani, owned 73.1% by Glencore, is an integrated copper producer located in the Copperbelt of central Zambia. 

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