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Covid-19 News

Billions in upstream opportunities left - Woodmac

By: Esmarie Iannucci     11th June 2021 Advisory firm Wood Mackenzie (Woodmac) has estimated that a potential $14-billion of upstream oil and gas assets could potentially be coming into the market, as the merger and acquisition (M&A) market in Asia begins to thaw. Woodmac Asia Pacific vice chairperson Gavin Thompson noted that the... 

Ramaphosa moves to tackle growth-sapping electricity crisis by increasing licence-exemption cap on distributed projects to 100 MW 

By: Terence Creamer     10th June 2021 In a surprise move, President Cyril Ramaphosa announced on Thursday that the licence-exemption cap on self- or distributed-generation plants would be raised from 1 MW to 100 MW to help address the country's electricity crisis, which has been weighing down economic growth and confidence for more... 

Ramaphosa moves to tackle growth-sapping electricity crisis by increasing licence-exemption cap on distributed projects to 100 MW
President Cyril Ramaphosa

Mining firms with higher ESG ratings outperform market – PwC  

By: Martin Creamer     8th June 2021 Mining companies with higher environmental, social and governance (ESG) ratings outperformed the broader market during the peak of the Covid-19 crisis, delivering 34% average total shareholder return over the past three years — ten percentage points higher than the general market index,  PwC... 

Mining firms with higher ESG ratings outperform market – PwC
PwC Mine 2021 Report covered by Mining Weekly’s Martin Creamer. Video: Nicholas Boyd

Miners due better year in 2021 - report

By: Esmarie Iannucci     8th June 2021 New research from PwC has found that the world’s top 40 miners could report record high revenues and earnings in 2021, and the second highest net profits in 18 years. In its Mine 2021 report, PwC noted that strong commodity prices propelled market capitalisation to rise by 64% on 2019 figures to... 

Miners due better year in 2021 - report

Miners contributing to A$8bn trade surplus in April

By: Esmarie Iannucci     4th June 2021 New data by the Australian Bureau of Statistics (ABS) has shown that the resources sector continued to support Australia’s economy, with the ABS reporting a trade surplus of more than A$8-billion in April 2021. Federal Resources Minister Keith Pitt on Friday said that the positive data for April... 

Miners contributing to A$8bn trade surplus in April

Minerals Council, unions commit support to get industry employees vaccinated

By: Simone Liedtke     3rd June 2021 The Minerals Council South Africa and labour unions have urged all industry employees to get vaccinated as soon as they have the opportunity to do so. The labour unions – the Association of Mineworkers and Construction Union (Amcu), the National Union of Mineworkers (NUM), Solidarity and Uasa –... 

Resource statement released to tempt new investment

By: Esmarie Iannucci     3rd June 2021 The federal government on Thursday released its first Global Resources Statement as part of its efforts to attract foreign investment and partnerships to develop Australia’s natural resources. The Global Resources Statement is the first milestone under the government’s Global Resources Strategy,... 

Resource statement released to tempt new investment

Resources Watch  

2nd June 2021 This week: Government-Minerals Council team established to promote exploration; concern over lack of JSE listings ahead of Junior Indaba; and, new green copper play in Northern Cape expects to be cash positive from month two. 

Resources Watch
Resources Watch

Renewables to take lion’s share of energy investment in 2021, but still falling short of net-zero goal

By: Terence Creamer     2nd June 2021 Renewables projects are expected to account for 70% of a record $820-billion in new power generation investment in 2021, as global electricity deployments exceed those of oil and gas for the sixth year in a row. Nevertheless, a new International Energy Agency (IEA) report warns that energy... 

Renewables to take lion’s share of energy investment in 2021, but still falling short of net-zero goal

Australia poised to benefit from increased commodity demand - MCA

By: Esmarie Iannucci     2nd June 2021 A new report by the Minerals Council of Australia (MCA) has shown that Australia was poised to take advantage of the predicted increase in global demand for commodities. The MCA’s Commodity Demand Outlook 2030 has predicted that seaborne iron-ore demand would rise moderately, from 1.5-billion... 

Australia poised to benefit from increased commodity demand - MCA

Pitt congratulates miners on perseverance

By: Esmarie Iannucci     2nd June 2021 Federal Resources Minister Keith Pitt has congratulated the resources sector on its performance during the Covid-19 pandemic and for supporting the recovery of the Australian economy while building on its reputation as a stable and reliable global supplier of minerals and energy throughout the... 

Regulator to make decision on Eskom’s latest R8.4bn RCA claim by end-August 

By: Terence Creamer     1st June 2021 The National Energy Regulator of South Africa (Nersa) has published a new regulatory clearing account (RCA) application from Eskom, through which the State-owned utility is seeking to recoup R8.4-billion in cost and revenue variances for the 2019/20 financial year. The application is the first... 

 Regulator to make decision on Eskom’s latest R8.4bn RCA claim by end-August

Weekly Coal Index Report

31st May 2021 If China thought it could depress the price of Australian coal by banning it, they must surely be unpleasantly suprised. As Chinese domestic prices are back on the boil, the Newcastle forward curve has leaped ahead, with prices for 3-month delivery at over $120. 

Weekly Coal Index Report

Macsteel confirms court challenge against ‘unlawful’ extension of safeguard duties 

By: Terence Creamer     27th May 2021 Opposition to the extension of safeguard duties on steel imports is intensifying, with the country’s leading merchant challenging the extension of the duties in court and with others even questioning the economic benefits of sustaining a primary steel producer in the form of ArcelorMittal South... 

Macsteel confirms court challenge against ‘unlawful’ extension of safeguard duties

Newly elected Minerals Council office bearer vaccinated

By: Martin Creamer     27th May 2021 Harmony CEO Peter Steenkamp, who was elected a Minerals Council South Africa VP on Wednesday, braved Thursday’s early morning chill to receive his Covid-19 vaccination at the Medscheme Health Facility in Florida, Roodepoort. Steenkamp, 62, qualified to do so in terms of the Department of Health’s... 

Newly elected Minerals Council office bearer vaccinated
Harmony CEO Peter Steenkamp receiving his Covid-19 vaccination at the Medscheme Health Facility in Florida, Roodepoort.

Monument reports Covid cases at Malaysia mine

By: Creamer Media Reporter      26th May 2021 Canadian gold producer Monument Mining has temporarily shut down its Selinsing gold mine, in Malaysia, after three employees tested positive for Covid-19. Personnel with direct contact have been placed in quarantine and the company says it has notified health authorities. 

Eskom debt solution remains a ‘work in progress’ despite reduction to R401bn 

By: Terence Creamer     25th May 2021 Public Enterprises Minister Pravin Gordhan reported on Tuesday that, while Eskom was able to reduce its debt by R83-billion, from R484-billion to R401-billion, during the 2021 financial year, efforts to find a lasting solution to the State-owned utility’s unsustainable debt remained a “work in... 

Eskom debt solution remains a ‘work in progress’ despite reduction to R401bn
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

50 MW reform won't hurt Eskom and would stimulate recovery, leading proponent outlines in submission 

By: Terence Creamer     25th May 2021 The organisation whose initial analysis indicated that reforming Schedule 2 of the Electricity Regulation Act to exempt embedded generation projects of at least 50 MW in size from the country’s cumbersome licencing process could unlock 5 000 MW of new capacity within five years has made its... 

50 MW reform won't hurt Eskom and would stimulate recovery, leading proponent outlines in submission

South Africans right to be very proud of country’s iron-ore – IMR  

By: Martin Creamer     24th May 2021 South Africans are well within their rights to be very proud of the iron-ore that is produced in the country. That is the view of Sedibeng Iron Ore CEO Aneesh Misra, who is also MD of IMR South Africa. (Also watch attached Creamer Media video.) 

South Africans right to be very proud of country’s iron-ore – IMR
Sedibeng Iron Ore CEO Aneesh Misra interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Urgent need to ramp up private vaccination sites to match dose delivery schedule 

By: Terence Creamer     21st May 2021 The number of private vaccination sites will need to be ramped-up aggressively in the coming weeks if South Africa is to reach the daily inoculation tempo of 192 000 required by the start of June to position the country to consume the millions of vaccine doses that have been secured for its... 

Urgent need to ramp up private vaccination sites to match dose delivery schedule

Operation Vulindlela ‘close to resolving’ debate on easing path for distributed power projects  

By: Terence Creamer     21st May 2021 Deputy Finance Minister David Masondo reports that Operation Vulindlela is close to resolving an ongoing policy discussion within government on the reforms needed to increase electricity supply “by allowing the private sector to invest more freely in its own generation”. Delivering his Budget... 

Operation Vulindlela ‘close to resolving’ debate on easing path for distributed power projects

Climate is global issue that exceeds anything seen in centuries – Anglo   

By: Martin Creamer     20th May 2021 Recent generations have defined the environment as a critical issue for humanity and climate change represents a new and sharper focus that exceeds any single global issue that we have seen in centuries, Anglo American CEO Mark Cutifani has told the Bank of America Securities Global Metals,... 

Climate is global issue that exceeds anything seen in centuries – Anglo
Mark Cutifani with chart showing thin slither at the top representing mining's 0.04% global footprint.

Iluka looks at suspending ops in Sierra Leone

By: Esmarie Iannucci     20th May 2021 Mineral sands miner Iluka Resources has announced plans to temporarily suspend its Sierra Rutile operations, in Sierra Leone. The ASX-listed miner on Thursday told shareholders that it had provided the government of Sierra Leone with six months notice of its intention to suspend operations,... 

Woodside advances green ammonia work

By: Esmarie Iannucci     20th May 2021 Oil and gas major Woodside has inked a heads of agreement with IHI Corporation and Marubeni Corporation to investigate the production and export of green ammonia produced from renewable hydro power in Tasmania. The companies said in a joint statement on Thursday that initially, the green... 

No place for new coal in $5tr/y transition to net-zero by 2050 – IEA study 

By: Terence Creamer     18th May 2021 A new and far-reaching study of how to transition the global energy system to one with net-zero carbon emissions by 2050 highlights the need for a dramatic acceleration in the pace and scale of renewable-energy and grid investment, while simultaneously halting new fossil-fuel supply projects and... 

No place for new coal in $5tr/y transition to net-zero by 2050 – IEA study

Govt steps in to help save refineries

By: Esmarie Iannucci     17th May 2021 The federal government has introduced a fuel security package to help secure Australia’s recovery from the Covid crisis and to help secure the country’s sovereign fuel stocks, locking in jobs and protecting families and businesses from higher fuel prices. Prime Minister Scott Morrison said the... 

Govt steps in to help save refineries

NAIF changes legislated by Parliament

By: Esmarie Iannucci     14th May 2021 Reforms to the Northern Australia Infrastructure Facility (NAIF) have passed through Parliament, allowing the fund to be extended for another five years, to 2026. “The reforms followed a statutory review of the NAIF and wide consultation with stakeholders throughout northern Australia, and the... 

NAIF changes legislated by Parliament

Iron-ore euphoria of today arising out of iron-ore despair of yesteryear offers crucial policy lesson, says mining analyst in a ‘Postcard to the President’ 

By: Martin Creamer     12th May 2021 If you bought R100 000 worth of shares in Kumba Iron Ore at the start of 2016, you would now be sitting on shares worth a staggering R2.67-million, excluding dividends. This is because Kumba’s all-time low share price of R25.35 in January 2016 has skyrocketed 2 647% to R696.45, reflecting the... 

Iron-ore euphoria of today arising out of iron-ore despair of yesteryear offers crucial policy lesson, says mining analyst in a ‘Postcard to the President’
Photo by Creamer Media
In a ‘Postcard’ to President Cyril Ramaphosa, mining analyst Bruce Williamson (right) pleads for the creation of ‘all-weather’ mining policy.

Miners welcome resource funding, but petroleum levy questioned

By: Esmarie Iannucci     12th May 2021 The resources sector has welcomed measures by the federal government to boost resource investment and growth. During the 2021-22 Budget, the federal government announced a A$100-million investment to extend the Junior Minerals Exploration Incentive for a further four years, from July 2021, to... 

Miners welcome resource funding, but petroleum levy questioned

Hydrogen and new gas a focus of 2021/22 Budget

By: Esmarie Iannucci     12th May 2021 The federal government has announced a number of investments into low emissions technologies and reduce emissions during is 2021-22 Budget. Minister for Energy and Emissions Reduction Angus Taylor said the Budget is supporting the Government’s responsible and pragmatic approach to energy policy... 

Renewable energy projects under investigation across AngloGold    

By: Martin Creamer     11th May 2021 Renewable energy projects are under investigation across the entire AngloGold Ashanti group, AngloGold Ashanti VP: environment Tony Da Cruz told Mining Weekly on Tuesday. Da Cruz reported that the gold mining company is also working with industry peers and vehicle original-equipment manufacturers... 

Renewable energy projects under investigation across AngloGold
AngloGold Ashanti presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Big jump in earnings margin generates strong cash ­for Harmony Gold 

By: Martin Creamer     11th May 2021 Gold mining company Harmony Gold has delivered another strong set of operational results year-on-year on the back of the integration of AngloGold Ashanti assets into its portfolio and a stronger rand per kilogram gold price. The combination of a higher gold price received and improved earnings... 

Big jump in earnings margin generates strong cash ­for Harmony Gold
Harmony Gold CEO Peter Steenkamp

Australia iron-ore exports beat records in March

By: Esmarie Iannucci     11th May 2021 Australia’s iron-ore exports reached a record A$14-billion in March this year, up from the A$9.2-billion reported in the same period last year, new data from the Australian Bureau of Statistics (ABS) has shown. Iron-ore exports were worth A$12.4-billion in January this year, up from the... 

Australia iron-ore exports beat records in March

Appea calls for more reforms in federal budget

11th May 2021 The Australian Petroleum Production and Exploration Association (Appea) has called on the federal government to instigate more measures to boost investment and spending ahead of the federal Budget. “Australia entered its first recession in more than 30 years in June last year, halting more than... 

AngloGold Q1 earnings rise to $203m despite lower production, higher costs

By: Martin Creamer     10th May 2021 Gold mining company AngloGold Ashanti reported first quarter headline earnings of $203-million, driven by the higher gold price. Q1 production of 2021 of 588 000 oz was down on the 630 000 oz for the same period last year and total cash cost of $999/oz was well up on the $773/oz from continuing... 

AngloGold Q1 earnings rise to $203m despite lower production, higher costs
Photo by Creamer Media
AngloGold Ashanti interim CEO Christine Ramon

Aus working on resource export strategy

By: Esmarie Iannucci     7th May 2021 The federal government has announced a A$20-million investment into a Global Resources Strategy, to help diversify exports and find new markets for Australia’s resources and Technology. Resources, Water and Northern Australia Minister Keith Pitt on Friday said that the aim of the new strategy is... 

A$58.6m added to gas-fired recovery

By: Esmarie Iannucci     7th May 2021 The federal government this week announced A$58.6-million of new measures to advance its gas-fired recovery in a post Covid-19 economy. Energy and Emissions Reduction Minister Angus Taylor on Friday said that through the 2021-22 Budget, the government is building on the progress already made to... 

A$58.6m added to gas-fired recovery
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