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

MCA signs critical minerals deal with KOMIR

By: Esmarie Iannucci     25th February 2022 The Minerals Council of Australia (MCA) has inked a memorandum of understanding (MoU) with the Korea Mine Rehabilitation and Mineral Resources Corp (KOMIR) to strengthen cooperation on exploration and development of mining resources in Australia, particularly critical minerals. “Australian... 

Great to see such healthy demand for this great industry – De Beers  

By: Martin Creamer     24th February 2022 It's great to see such a healthy demand for this great industry, De Beers Group CFO Sarah Kuijlaars said after posting a set of stunning financial results for the world’s leading diamond company by value. Underlying 2021 earnings before tax, depreciation and amortisation soared to $1 100-million... 

Supplied picture
De Beers Group CFO Sarah Kuijlaars interviewed by Mining Weekly's Martin Creamer.

Aluminium rockets to record high on fears of disruptions to Russian supplies

By: Reuters     24th February 2022 Aluminium prices rallied to a record high on Thursday as Moscow's invasion of Ukraine sparked fears of sanctions that could cut supplies from major producer Russia and disrupt energy supplies needed to produce the metal. Moscow launched an all-out invasion of Ukraine by land, air and sea on... 

An image of an aluminium ingot.

Anglo posts record full-year Ebitda of $20.6bn  

By: Marleny Arnoldi     24th February 2022 Global diversified miner Anglo American has posted a profit attributable to equity shareholders of $8.6-billion for the 2021 financial year after recording solid performances across assets and with strong support from commodity prices. Underlying earnings before interest, taxes, depreciation... 

Anglo American outgoing CEO Mark Cutifani
Photo by Creamer Media
Anglo American outgoing CEO Mark Cutifani

Celsius gets backing from Philippine government

By: Esmarie Iannucci     24th February 2022 The Philippine government has awarded junior Celsius Resources’ subsidiary Makilala Mining Company (MMCI) priority project status for the Maalinao-Caigutan-Biyog (MCB) copper/gold project. A scoping study previously estimated that the project would require a capital investment of $253-million to... 

Gold soars over 2%, palladium advances as Russia attacks Ukraine

By: Reuters     24th February 2022 Gold prices jumped more than 2% on Thursday to their highest in over a year and palladium extended a rally as Russian forces invaded Ukraine after President Vladimir Putin authorised what he called a special military operation. Spot gold climbed 1.9% to $1 943.28 per ounce by 0720 GMT, after... 

Gold soars over 2%, palladium advances as Russia attacks Ukraine

Oil soars past $100 after Russia attacks targets across Ukraine

By: Bloomberg     24th February 2022 Brent oil surged above $100 a barrel for the first time since 2014 as Russia’s attack on cities across Ukraine sparked fears of a disruption to the region’s critical energy exports. Futures in London jumped as much as 5.4% after Vladimir Putin ordered an operation aimed at demilitarizing the... 

Kumba CEO gives firm thumbs up to continued exploration in prospective Northern Cape   

By: Martin Creamer     24th February 2022 New Kumba Iron Ore CEO Mpumi Zikalala this week gave a firm thumbs up to South Africa’s biggest iron-ore mining and marketing company continuing to invest in mineral exploration in the Northern Cape, which she described as being highly prospective. The Johannesburg-listed Anglo American group... 

Creamer Media screenshots
Kumba Iron Ore CEO Mpumi Zikalala interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Iluka posts stellar results as demand rises

By: Esmarie Iannucci     24th February 2022 Mineral sands miner Iluka has reported an increase in revenue and net profits after tax for the 2021 financial year, on the back of increased demand. Mineral sands revenue for the full year ending December was up 57% on 2020, to $1.4-billion, while underlying net profits after tax increased by... 

Platinum group metals may also play role in batteries – Anglo American Platinum  

By: Martin Creamer     23rd February 2022 The unique properties of platinum group metals (PGMs) may also play a role in batteries, says Anglo American Platinum (Amplats) CEO Natascha Viljoen. Speaking to Mining Weekly in a Zoom interview, Viljoen highlighted how PGMs are poised to play a role, no matter the direction in which the energy... 

Creamer Media screenshot taken during presenttion of financial results.
Anglo American Platinum CEO Natascha Viljoen interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

China to prevent 'excessive hoarding' of iron-ore to cool prices

By: Reuters     23rd February 2022 Chinese authorities will prevent "excessive hoarding" of iron-ore and guide port firms to ensure that traders of the commodity bring inventories back to a reasonable level as soon as possible, the powerful state planner said on Wednesday. The decision follows a symposium called by the National... 

China to prevent 'excessive hoarding' of iron-ore to cool prices

Kumba shares R89bn of value created in 2021 with stakeholders  

By: Martin Creamer     22nd February 2022 South Africa’s biggest iron-ore producers and marketer, Kumba Iron Ore, has shared R89-billion of the value it created in 2021 with its stakeholders, with more than R21-billion going to the government in tax revenues and mineral royalties. The Johannesburg-listed Anglo American group company... 

Creamer Media screenshot taken during presentation.
Kumba Iron Ore 2021 results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kumba fast-tracking solar, customising green hydrogen, sees good lump premium prospects 

By: Martin Creamer     22nd February 2022 South Africa’s major iron-ore producer and marketer Kumba Iron Ore is fast-tracking solar power permitting and looking to wind energy, it is discussing the use of green hydrogen with particularly European customers, and it foresees relatively strong iron-ore prices continuing in the short term as... 

Supplied picture
Kumba Iron Ore marketing and seaborne logistics executive head Timo Smit.

Cash-flush Kumba Iron Ore reports record earnings in exceptional year of delivery

By: Martin Creamer     22nd February 2022 Iron-ore mining and marketing company Kumba Iron Ore delivered record earnings of R64.6-billion in 2021, when it accumulated 47%-higher attributable free cash flow of R30.5 billion. The average realised export price of $161/t was 18% above benchmark helped the company to achieve a 63% earnings... 

Picture supplied
Kumba Iron Ore CEO Mpumi Zikalala

P’nyang gas agreement struck in PNG

By: Esmarie Iannucci     22nd February 2022 Oil and gas major Santos has inked a gas agreement with the Papua New Guinea (PNG) government and its P’nyang project partners ExxonMobil and JX Nippon, to execute a gas agreement that provides a clear framework for P’nyang’s future development. The gas agreement sets out the fiscal framework... 

Image shows a handshake

Multiple renewable energy forms being evaluated across South Africa – Anglo Platinum  

By: Martin Creamer     21st February 2022 Platinum group metals (PGMs) miner and marketer Anglo American Platinum (Amplats), which on Monday reported a record 2021 financial performance, is collectively evaluating options to access multiple forms of renewable energy across South Africa, including hydro pump power and wheeling renewable... 

Picture supplied
Anglo American Platinum’s record financial results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

China signals coal reliance to continue with three new mines

By: Bloomberg     21st February 2022 China’s top planning agency approved three different billion-dollar coal mine projects on Monday as the country continues to support the fuel that much of the rest of the world is shunning. The National Development and Reform Commission gave the go ahead to two mines in the northwestern province... 

Fitch revises short-term iron-ore price outlook higher on China stimulus

By: Schalk Burger     21st February 2022 Business intelligence firm Fitch Solutions Country Risk and Industry Research is revising its 2022 iron-ore price forecast upwards, from $90/t to $120/t, and its 2023 forecast, from $75/t to $110/t, as Chinese demand has once again started picking up. The firm expects Chinese demand to also... 

China to boost commodity price supervision in push for industrial growth

By: Reuters     18th February 2022 China's State planner will take steps to stabilise the commodity market and hasten construction of new infrastructure, it said on Friday, in the effort to promote steady industrial growth. In a joint notice, the National Development and Reform Commission (NDRC) and other regulators announced 18... 

4 000 families, 5 000 pupils taking advantage of DRDGold’s self empowerment   

By: Martin Creamer     18th February 2022 Johannesburg has a unique history. If not for mining, there would be no city. The mines, however, did not come to the city, rather the city came to the mines. What resulted was poorly regulated urbanisation and hundreds of thousands of people living in close proximity to former mining... 

Picture supplied
DRDGold CEO Niël Pretorius interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Aluminium prices to remain high into 2023 amid high input costs, disrupted production

By: Donna Slater     18th February 2022 Following impressive rallies in the first and third quarters of 2021, financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) is revising its aluminium price forecasts for this year and next upwards to $3 000/t and $2 800/t,... 

An image of aluminium rolls
Aluminium rolls

St Barbara withdraws guidance as Covid rages

By: Esmarie Iannucci     18th February 2022 Gold producer St Barbara on Friday withdrew its production guidance for 2022, as a Covid-19 outbreak at its Simberi operations, in Papua New Guinea (PNG), resulted in production difficulties. The ASX-listed miner told shareholders that infection rates across the Tabar Island group have increased... 

Gold pushes above $1 900 as Ukraine crisis spurs haven demand

By: Bloomberg     18th February 2022 Gold advanced to an eight-month high above $1 900/oz as the prolonged standoff over Ukraine stoked demand for havens. The US ramped up warnings of a possible Russian attack, with President Joe Biden saying a “false-flag” event may be under way. Moscow said no invasion was planned, but given... 

An image of Vladimir Putin
The US has ramped up warnings of a possible Russian attack in Ukraine.

Coal India warns it may need to cut output without price hike

By: Bloomberg     18th February 2022 State-run miner Coal India warned production of the fuel may fall, risking new threats to the nation’s energy supply, if the company isn’t able to raise prices. The world’s largest coal producer is facing cost pressures from a looming rise in salaries and on higher prices of diesel used to power... 

Nickel prices at 3-1/2-week high on Russian supply angst, low stocks

By: Reuters     18th February 2022 Nickel prices rose on Friday to their highest levels in three-and-a-half weeks after the market was bolstered by lower inventories and as the prospect of sanctions on Russia, a major producer of the metal, exacerbated concerns of reduced supply. Three-month nickel on the London Metal Exchange... 

Nickel Mines takes initial stake in Oracle

By: Esmarie Iannucci     18th February 2022 ASX-listed Nickel Mines has completed the acquisition of an initial 10% interest in the Oracle nickel project, currently under construction within the Indonesia Morowali Industrial Park in Central Sulawesi, Indonesia. Nickel Mines in December has inked a definitive agreement with partner... 

FIRB backs POSCO's bid for Senex

By: Esmarie Iannucci     18th February 2022 The Foreign Investment Review Board (FIRB) has approved Korean major POSCO International’s takeover of ASX-listed Senex Energy, issuing the suitor with a ‘no objection’ letter. POSCO was offering A$4.60 a share for each Senex share held, with the deal being unanimously recommended by the Senex... 

DRDGold building initial 20 MW solar, 100 MW storage at Ergo gold operation  

By: Martin Creamer     17th February 2022 With a view to reducing its carbon footprint as well as addressing the uncertainty of the supply and cost of electricity, surface gold mining company DRDGold has taken a decision to construct a solar power plant and a power storage facility at Ergo, the gold from mine waste operation on the East... 

Creamer Media screenshot taken during online results presnetation.
DRDGold CEO Niël Pretorius interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Absolutely clear we’ll reduce Scope 1, 2 emissions by 30% by 2030 ­– Barrick 

By: Martin Creamer     17th February 2022 Gold and copper mining company Barrick has a detailed emission reduction roadmap in place that allows it to be unequivocal about the extent to which it will mitigate against climate change going forward. “We are absolutely clear that we will reduce our greenhouse gas emissions by 30% by 2030 and... 

Graphic provided by Barrick.
Emission reduction roadmap for Scope 1 and 2 emissions. Scope 3 roadmap on way.

Cobalt powerhouse doubles down on nickel

By: Bloomberg     17th February 2022 Specialty metals refiner Umicore is enjoying record profits as battery materials boom, but the company is racing to avert a slowdown in sales as its cobalt-heavy chemicals fall out of favor with carmakers. The Brussels-listed company, which has been refining cobalt for more than 100 years, says... 

Opec+ must fix its million-barrel supply gap, IEA says

By: Bloomberg     17th February 2022 The International Energy Agency (IEA) urged the Organisation of the Petroleum Exporting Countries (Opec) and its allies to address a widening shortfall in their oil production as a volatile market sends crude prices rocketing toward $100 a barrel. While fuel consumption is bouncing back from the... 

Mysterious deep-ocean creatures may help combat climate change

By: Bloomberg     17th February 2022 As the deep ocean faces growing peril from climate change, seabed mining and other threats, scientists have discovered that seafloor sediments are home to vast populations of previously unknown organisms that may play a crucial role in carbon sequestration and marine food webs. When researchers... 

Barrick delivers on guidance, opens new exploration frontiers 

By: Martin Creamer     16th February 2022 Driven by strong performances from its Africa, Middle East and Latin America regions, Barrick’s production in 2021 was in line with guidance for the third successive year. The company also more than replaced its gold reserves net of depletion at a better grade. A dividend of $0.10 a share was... 

icture from website.
Barrick is opening new exploration frontiers

DRDGold has 41 programmes to take mine communities out of poverty  

By: Martin Creamer     16th February 2022 Surface gold recovery company DRDGold, which on Wednesday continued its uninterrupted 15-year run of dividend paying, highlighted its R100-milllion-plus half-year contribution to the fiscus in income tax as an important current underpin of social systems that are helping the country to avoid... 

Screenshot taken by Creamer Media during presentation
DRDGold results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

China stops coal price reporting to crack down on rally

By: Bloomberg     16th February 2022 Two major Chinese coal data providers halted their price indexes after Beijing intensified a campaign to tame down rallies in the mainstay fuel and iron-ore to rein in inflation. Fenwei Energy information Services stopped publishing its indexes for various thermal coal grades, including the most... 

Aluminum hovers near 13-year high as trade weighs Ukraine crisis

By: Bloomberg     16th February 2022 Aluminum hovered near the strongest level since 2008 as traders assessed the impact of an easing of geopolitical tensions over Ukraine and the persistent pressure of soaring energy costs on global supplies. Russian President Vladimir Putin said he hopes for a diplomatic solution to tensions with... 

Fitch Solutions expects a lucrative two years ahead for tin producers

By: Marleny Arnoldi     16th February 2022 Fitch Solutions Country Risk & Industry Research is confident that the price of tin will average between $38 000/t and $42 000/t this year and next, as a result of rapid demand growth outpacing still-recovering supply. The research agency first had its tin price forecast for 2022 and 2023 set... 

Uis tin mine, in Namibia
Uis tin mine, in Namibia

China scientists flag rich lithium find in Mt Everest region

By: Bloomberg     16th February 2022 An official science publication in China is trumpeting what its quoted geologists called a “breakthrough” discovery of lithium in the same region as Mount Everest. The hard-rock resource has the potential to host the third-biggest mine of its kind in China, according to, a website... 

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