R/€ = 16.04 Change: 0.07
R/$ = 14.36 Change: 0.07
Au 1277.67 $/oz Change: -8.21
Pt 816.79 $/oz Change: -10.03

Asia News

Trans-Siberian expects to exceed 2018 gold guidance, secures cheaper electricity

By: Marleny Arnoldi     11th January 2019 LSE-listed Russian miner Trans-Siberian Gold expects to exceed its 2018 gold production guidance of between 36 000 oz and 40 000 oz, as a result of an improved operational performance and improving gold grades. The average gold grade for the third quarter last year was 7.8 g/t gold.  

Alacer hits targets in 2018

By: Esmarie Iannucci     11th January 2019 Gold miner Alacer Gold has reached its 2018 production expectations, with the Çöpler mine, in Turkey, producing 170 865 oz of gold. The full-year production was in line with expectations of between 160 000 oz and 230 000 oz. 

Alacer hits targets in 2018

World Gold Council believes gold will become more relevant in 2019

By: Simone Liedtke     10th January 2019 The World Gold Council (WGC) has said it believes gold will become even more relevant this year owing to “its proven record” for delivering returns, its low correlation to major asset classes, its liquidity and its risk-adjusted returns. Looking ahead, the council expects gold demand to benefit... 

World Gold Council believes gold will become more relevant in 2019

Oil near one-month high amid Opec cuts, economic uncertainty

By: Bloomberg     10th January 2019 Oil traded near a one-month high after entering a bull market, while the tension between an uncertain economic outlook and efforts by Opec to restrict supplies continued to cause volatile trading. West Texas Intermediate slipped 0.5% after a rally on Wednesday brought crude’s rebound from an... 

Value-chain relationship rebuild essential for platinum group metals’ survival – Ritchken 

By: Martin Creamer     10th January 2019 The rebuilding of key strategic relationships across the value chain of the platinum group metals (PGMs) sector is essential for the survival of the industry, Mining Phakisa coordinator Edwin Ritchken states in the book The Future of Mining in South Africa: Sunset or Sunrise, published by the... 

Value-chain relationship rebuild essential for platinum group metals’ survival – Ritchken
Photo by Creamer Media
Mining Phakisa coordinator Edwin Ritchken

Central Asia Metals meets production guidance for 2018

By: Tasneem Bulbulia     9th January 2019 Aim-listed Central Asia Metals (CAM) met its 2018 production guidance for copper, zinc and lead at the Kounrad dump leach, solvent extraction and electrowinning copper recovery plant, in Kazakhstan, as well as at the Sasa zinc/lead mine, in Macedonia. Kounrad produced 14 049 t of copper in 2018,... 

Goldman warns iron-ore's jump into $70s 'is not sustainable'

By: Bloomberg     9th January 2019 Iron-ore’s rally over the past month, with benchmark material pushing back into the $70s, is at risk as banks including Goldman Sachs Group and Morgan Stanley warn that prices are poised to drop back. While industry fundamentals have improved, current prices won’t last as more supply is on the... 

Metalkol RTR joins Cobalt Institute

By: Tasneem Bulbulia     9th January 2019 Eurasian Resources Group’s Metalkol RTR reprocessing plant is now a member of the Cobalt Institute. Metalkol RTR is a major reprocessing plant for historic cobalt and copper tailings from previous mining operations in the Haut-Katanga province of the Democratic Republic of the Congo. 

Indonesia forecasts drop in Grasberg copper concentrate exports in 2019

By: Reuters     9th January 2019 Copper concentrate exports from Indonesia's Grasberg mine, the world's second-largest copper mine, are forecast to plunge this year because of a lag in output as operations move from open pit to underground mining, a government official said on Wednesday. In 2019, copper concentrate exports are... 

Indonesia forecasts drop in Grasberg copper concentrate exports in 2019

Mosaic company enters into MoU with Sinochem

By: Tasneem Bulbulia     9th January 2019 Concentrated phosphate and potash crop nutrients producer Mosaic Company has entered into a memorandum of understanding (MoU) with Sinochem, China’s largest agricultural inputs company, for the supply of phosphate rock and phosphate fertilisers, including premium products. “We are pleased to... 

Gold treads lower on improved risk appetite; palladium at record high 

By: Reuters     9th January 2019 Gold prices edged lower on Wednesday as a likely end to a long-drawn Sino-US trade war boosted risk sentiment, outweighing expectations of a pause in interest rate increases by the Federal Reserve. Meanwhile, palladium hit a record high at $1 340.50 an ounce during the session. 

Gold treads lower on improved risk appetite; palladium at record high

India fails to leverage DMF funds - report

By: Ajoy K Das     9th January 2019 Funds created through the taxation of mining, to mitigate the social and environmental impact of extraction, are grossly under-utilised across Indian states, a Parliamentary report has found. Funds under the District Mineral Fund (DMF) in every district that has mining operations have been so... 

India’s plans for a natural gas trading hub in limbo

By: Ajoy K Das     9th January 2019 Having missed the December deadline to establish a national gas trading hub, India is unlikely to push ahead with its plans in the immediate future without solving the vexed issue of unbundling operations of State-run natural gas infrastructure owner and marketer GAIL India. The Petroleum and... 

Global gold-backed ETF holdings grew 3% in 2018 – World Gold Council

By: Simone Liedtke     8th January 2019 Global gold-backed exchange-traded funds (ETFs) grew by 3% in 2018, and were driven by strong growth in European funds and increased global inflows during December, the World Gold Council’s monthly gold ETF/exchange-traded product (ETP) report, published on Tuesday, shows. This, the report... 

India court backs Vedanta restart order while State appeals

By: Bloomberg     8th January 2019 India’s top court has asked Tamil Nadu to comply with a green tribunal order allowing the restart of Vedanta’s copper smelter that has been shut since March, while also agreeing to hear the southern state’s appeal. The Supreme Court, in an interim ruling, has asked Tamil Nadu to comply with last... 

Gold miners to focus on mitigating risks – Fitch Solutions 

By: Simone Liedtke     8th January 2019 Consultancy company Fitch Solutions believes the gold mining industry will remain fragmented, with the top five companies producing just one-fifth of global output. Despite the company’s expectation of a slight rebound in prices, it stated in its latest ‘Outlook for gold miners’ report, published... 

Gold miners to focus on mitigating risks – Fitch Solutions

Zijin to launch compulsory acquisition for remaining Nevsun shares

By: Marleny Arnoldi     8th January 2019 Chinese group Zijin Mining has acquired a further 9.5-million shares, or 3.05%, of TSX- and NYSE American-listed Nevsun Resources for $57-million. Zijin last year offered to buy out all the issued and outstanding common shares of Nevsun for C$6 apiece.  

Africa, South America to drive copper mine capacity growth up to 2021 – ICSG 

By: Marleny Arnoldi     7th January 2019 The International Copper Study Group (ICSG) expects copper mine capacity to grow at an average rate of 2.2% a year up to 2021. The ICSG notes in its biannual ‘Directory of Copper Mines and Plants’ that the average is derived from the lower growth of about 0.5% seen in 2018/19 as compared to... 

Africa, South America to drive copper mine capacity growth up to 2021 – ICSG

BlackRock heaps praise on gold's role as a tough year opens 

By: Bloomberg     7th January 2019 Gold may extend gains as global growth slows, equity market volatility remains elevated and the Federal Reserve is expected to ease back on the pace of policy tightening this year, according to a BlackRock money manager, who says the precious metal offers an effective hedge. “Recession fears are... 

BlackRock heaps praise on gold's role as a tough year opens

Goldman takes hatchet to near-term metals outlook as China sours  

By: Bloomberg     7th January 2019 Goldman Sachs Group chopped back its near-term metals forecasts as China’s economy has “decelerated notably,” while balancing that outlook with a prediction mainland policy makers will respond by stoking expansion in the second half, aiding a revival in copper and aluminum. The bank – which had... 

Mayur finds funding for Orokolo Bay

By: Esmarie Iannucci     7th January 2019 ASX-listed Mayur Resources has secured up to $25-million in funding from China Titanium Resources Holdings to develop its Orokolo Bay industrial mineral sands project, in the Gulf of Papua. In exchange for the funding, China Titanium Resources will be given a 49% stake in Mayur subsidiary MR... 

Anglo American makes executive changes in base metals unit and Brazil

By: African News Agency      3rd January 2019 Global mining group Anglo American on Thursday announced a number of senior management changes following the decision to divide the management of its global base metals business from its strategy and business development activities.  The group said that Ruben Fernandes, currently chief executive... 

Anglo American makes executive changes in base metals unit and Brazil

Gold opens 2019 with fanfare amid growth concerns as copper sags

By: Bloomberg     3rd January 2019 Gold futures rose, extending their best quarterly rally in more than a year as concern over China’s economic outlook weighed on global equities and industrial metals. Bullion hit a six-month high, nearing $1 300 an ounce, after a report showing a contraction in China manufacturing renewed wild... 

Highlands gets offer from Cobalt 27

By: Esmarie Iannucci     2nd January 2019 ASX-listed Highlands Pacific has received a takeover offer from Canadian shareholder Cobalt 27 Capital Corporation. Under the terms of a scheme implementation agreement, Cobalt 27, which already holds a 13% interest in Highlands, was offering shareholders 10.5c a share for their interest in the... 

India to auction 105 blocks in current FY, but upcoming election casts uncertainties

By: Ajoy K Das     21st December 2018 India will auction 105 mineral blocks before the end of the current financial year, the Mines Ministry informed Parliament on Thursday. According to information provided by the Mines Ministry, various state governments have completed the auction of 18 mineral blocks over the past nine months,... 

India likely to allow power plants to swap imported and domestic coal

By: Ajoy K Das     21st December 2018 Pushing through further rationalisation of coal supply linkages, India’s Coal Ministry is working on permitting thermal power plant operators to swap imported transported to deep into the hinterland with domestic coal being transported to plants along the coast. The Coal Ministry has set up an... 

Northern Coalfields to hit 100Mt production in current FY

By: Ajoy K Das     20th December 2018 Northern Coalfields Limited (NLC), the wholly-owned operational subsidiary of State-run Coal India Limited (CIL), will invest an additional $612-million over the next three months of current financial year to hit its 100-million-ton-a-year production target. Should it meet that target by the end... 

India’s Coal Ministry extends timelines for ongoing coal block auction

By: Ajoy K Das     20th December 2018 India’s Coal Ministry has extended the timelines for various stages of auctioning 18 coal blocks that got underway on Wednesday and has also relaxed some terms and conditions for successful bidders. The auction of the coal blocks for users in steel, cement and captive power generation sectors... 

Codelco agrees 3-year 'evergreen' deals with clients in strategy overhaul

By: Reuters     20th December 2018 Chilean State miner Codelco has agreed to sell France's Nexans, China's Minmetals and US-based Southwire 50 000 t to 100 000 t of copper each from 2019 to 2021 in rolling deals known as "evergreens", sources close to the matter said. The contracts - which roll annually, meaning that from 2020... 

RINL to bid for iron-ore block to diversify raw material sourcing

By: Ajoy K Das     19th December 2018 Indian state-run steel producer Rashtriya Ispat Nigam Limited (RINL), which operates a 6.3-million-ton-a-year steel mill without any captive iron-ore asset, is planning to participate at auction of iron-ore blocks and at the same time diversify its raw material sourcing to reduce dependency on... 

India’s Nalco lines up $6.33bn expansion projects

By: Ajoy K Das     18th December 2018 Indian State-run National Aluminium Company (Nalco) has lined up $3.52-billion investments on brownfield expansion and another estimated $2.81-billion on greenfield projects over the next few years. According to Nalco chairperson, T K Chand, the company is expecting to close the current... 

Metal bulls cheer end to 'horrid' year; Goldman touts copper

By: Bloomberg     18th December 2018 As China goes, so goes industrial metals. That’s the message from anxious investors rolling out of a rough 2018, when Trump trade tensions, Federal Reserve rate hikes, a strong dollar and an economic slowdown in China all combined to push the London Metal Exchange Index to its first annual loss... 

At least 13 illegal miners in north-eastern India feared killed

By: Ajoy K Das     14th December 2018 At least 13 people have been trapped and feared to be killed while illegally mining coal in the north-eastern Indian state of Meghalaya. According to preliminary reports received from government officials, the trapped miners may have been killed in the coal mine in the coal-rich Jantia hills. 

Global uranium supply sufficient to meet future demand – NEA 

By: Marleny Arnoldi     14th December 2018 Intergovernmental agency, the Nuclear Energy Association (NEA), says the world’s supply of uranium is more than adequate to meet projected requirements for the foreseeable future, regardless of the role that nuclear energy will play in meeting future electricity demand and global climate... 

Global uranium supply sufficient to meet future demand – NEA
Cameco's Inkai mine in Kazakhstan

Synthetic diamonds hogged media attention in 2018

By: Nadine James     14th December 2018 Media coverage of the diamond industry in 2018 has been dominated by the progression of laboratory-created diamond production, distribution and pricing dynamics, according to independent diamond expert Paul Zimnisky. He commented that several new players have entered the synthetic diamond space,... 

Synthetic diamonds hogged media attention in 2018
Photo by Bloomberg
TALK OF THE TOWN Laboratory-grown diamonds have held media and industry attention throughout 2018

Gold supply to increase 2.2% for 2018 – Refinitiv

By: Marleny Arnoldi     13th December 2018 Total gold supply is set to increase by 2.2% year-on-year this year, led by mine production, says the GFMS team at Refinitiv. Refinitiv predicts this year will finish as another year of net de-hedging, albeit at a forecast 29 t, which will be 29% lower than in 2017.  

Japanese trading giant Mitsubishi throws weight behind platinum 

By: Martin Creamer     13th December 2018 The Japanese trading giant Mitsubishi has thrown its weight behind technologies that harness the high-performance characteristics of platinum group metals (PGMs) by joining Anglo American Platinum (Amplats) and South Africa’s Public Investment Corporation (PIC) as an investor in AP Ventures,... 

Japanese trading giant Mitsubishi throws weight behind platinum
Photo by Creamer Media
AP Ventures managing partner Andrew Hinkly

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

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