R/€ = 17.04 Change: 0.00
R/$ = 16.33 Change: 0.00
Au 1811.04 $/oz Change: 2.18
Pt 887.00 $/oz Change: 1.00

Europe News

Things looking interesting for platinum despite surplus  

By: Martin Creamer     16th May 2022 What the World Platinum Investment Council (WPIC) is forecasting for 2022 is a reduced but still large platinum surplus of 627 000 oz. But this surplus is extremely vulnerable to the issues the WPIC thinks may play out, particularly: 

Copper wavers near $9 000 after fear-filled week for metals

By: Bloomberg     13th May 2022 Copper steadied and aluminum rose after a turbulent week for metals dominated by growing concerns over the state of the global economy. While metals markets were calmer Friday, prices have endured a dismal few days on fears about monetary tightening as well as demand from top consumer China.... 

Neometals JV signs deal with Mercedes-Benz

By: Esmarie Iannucci     13th May 2022 ASX-listed Neometals on Friday announced that its joint venture with SMS Group, Primobius, had inked a conditional, binding agreement with Mercedes-Benz subsidiary LICULAR to develop a battery recycling plant. Mercedes-Benz in March tapped Primobius as its technology partner for the design and... 

Hitachi Energy selected for haul truck electrification solution

By: Tasneem Bulbulia     13th May 2022 Global technology company Hitachi Energy has been selected as a technology vendor in the Charge On Innovation Challenge. Founded by BHP, Rio Tinto and Vale, together with multiple industry patrons, the initiative sees the world’s mining industry unite to solve one of the biggest challenges in... 

An image showing a mining haul truck
The electrification of haul trucks is noted as one of the biggest challenges to decarbonising mining operations

Nornickel is first Russian firm to get OK to keep listing abroad

By: Reuters     13th May 2022 Metals giant Nornickel has become the first Russian company to be granted permission by a government commission to keep its listing abroad - for one year for now. Nornickel, the world's largest producer of palladium and refined nickel, and other large Russia-registered firms have sought... 

LBMA, WGC advance pilot of Gold Bar Integrity initiative

By: Marleny Arnoldi     13th May 2022 The London Bullion Market Association (LBMA) and the World Gold Council (WGC) have selected two vendors, blockchain technology start-up companies Axedras and Peer Ledger, to participate in a pilot phase of the organisations’ Gold Bar Integrity initiative. The initiative is aimed at digitally... 

Nyrstar secures bi-partisan approach for zinc investment ahead of election

By: Esmarie Iannucci     13th May 2022 Zinc major Nyrstar on Friday announced it had secured bi-partisan support for its investment in the construction of a new electrolysis plant at the company’s ‘Zinc Works’ operations in Hobart, ensuring a long- term future for metals refining in Australia. Nyrstar earlier this month announced... 

Global diamond trade fractures under the weight of Russia sanctions

By: Bloomberg     13th May 2022 Russia’s invasion of Ukraine is fracturing a billion-dollar trade that spans the permafrost-laden diamond mines of Siberia, secretive trade houses in Antwerp, dusty polishing powerhouses in India and New York’s glittering designer jewellery stores. Russian mining giant Alrosa supplies about a... 

Now you can own a fraction of a fancy coloured diamond

By: Bloomberg     13th May 2022 A new fractional ownership business centered on fancy colored diamonds will launch on May 18. Luxus, founded by hedge fund expert Dana Auslander and fashion journalist Gretchen Gunlocke Fenton, will debut with a first offering of a .54 carat fancy pink diamond. 

Metal demand seen surging for decades on strength of energy transition, World Bank says

By: Bloomberg     13th May 2022 Demand for metals used in everything from wind-turbine blades to batteries will surge for decades to come, driven by efforts to decarbonize the global economy and shift away from fossil fuels, according to the World Bank. Even as consumption growth for other commodities like grain probably will... 

Uzbek copper producer plans local IPO this year

By: Reuters     12th May 2022  Uzbek copper, silver and gold producer Almalyk Mining and Metals Combine (AGMK) announced a tender on Thursday to hire an underwriter to conduct an IPO on the local stock exchange this year. According to the announcement on the Uzbek Republican Commodity and Raw Materials Exchange, the deadline... 

Copper tumbles to 7-month low as slowdown fears rock markets

By: Reuters     12th May 2022 Copper prices tumbled on Thursday to their lowest in seven months and other industrial metals fell as traders worried that a slowing global economy would require less metal. With inflation surging and interest rates rising, growth fears also pushed down oil prices and stock markets hit a... 

Hochschild to invest $200m in Brazilian gold mine construction

By: Reuters     12th May 2022 Hochschild Mining plans to invest about $200-million in the construction of a gold mine in Brazil, a project it will launch in the second quarter of the year, CEO Ignacio Bustamante told Reuters on Wednesday. The construction of the Mara Rosa mine, a project it acquired last year for... 

Miners turn to bacteria and other new ways to leach copper from waste rock

By: Reuters     12th May 2022 Rio Tinto, Freeport-McMoRan and other global miners, spurred by rising prices and demand, are deploying a raft of new leaching technologies that can extract low concentrations of copper from waste rock and help avoid lengthy mine permitting delays. Copper prices have nearly doubled in the past... 

Pentagon asks Congress to fund mining projects in Australia, UK

By: Reuters     12th May 2022 The US Department of Defense has asked Congress to let it fund facilities in the United Kingdom and Australia that process strategic minerals used to make electric vehicles and weapons, calling the proposal crucial to national defense. The request to alter the Cold War-era Defense Production Act... 

Pentagon asks Congress to fund mining projects in Australia, UK

Eight submissions to progress in global innovation challenge

By: Esmarie Iannucci     12th May 2022 Mining majors BHP, Rio Tinto and Vale have selected eight technology innovators’ submissions to progress beyond the Charge On Innovation Challenge. The global challenge is aimed at accelerating the commercialisation of effective solutions for charging large electric haul trucks while... 

Image shows a mining dump truck and worker

Kropz secures up to R177m in funding from ARC Fund

By: Marleny Arnoldi     11th May 2022 Aim-listed Kropz has entered into a new conditional convertible equity facility of up to R177-million, or $11-million, with its major shareholder African Rainbow Capital (ARC) Fund, pending shareholder approval at a general meeting on May 30. The funds will be used to progress the Elandsfontein... 

Minimum of 14 000 jobs a year from South Africa’s first hydrogen corridor 

By: Martin Creamer     11th May 2022 South Africa’s first hydrogen corridor now under development has the potential to generate a minimum of 14 000 jobs, $400-million in gross domestic product and $900-million in taxes a year by 2050. In an addition, there is potential to grow platinum group metal (PGM) demand by between 1% to 2%... 

Creamer Media picture.
Photo by Creamer Media
Minerals Council hydrogen briefing from left Allan Seccombe, Roger Baxter and Fahmida Smith.

Diamond prices are spiking and even De Beers can't fill the gap

By: Bloomberg     11th May 2022 Prices are surging in some corners of the rough-diamond market, as sanctions on one of the world’s two giant miners ripple through the supply chain. In the past, the industry could turn to behemoth De Beers to crank out extra gems when supply ran tight — but not this time. The price of a small... 

An image of De Beers CEO Bruce Cleaver
De Beers CEO Bruce Cleaver

How to speed up the rollout of small nuclear power plants

By: Bloomberg     11th May 2022 Building big, conventional nuclear power plants is slow and expensive. That’s one reason the industry is staking its future on a new generation of smaller advanced reactors. Still in development, these offer the promise of carbon-free energy and could back up the ebbs and flows of renewable power... 

Europe looking to get 1Mt/y of coal from Botswana, says President Masisi

By: Reuters     11th May 2022 Botswana has been inundated with inquiries to supply coal to Europe and estimates that demand from Western countries could top a million tonnes a year, President Mokgweetsi Masisi said on Tuesday, as the Ukraine war forces Europe to pivot more to Africa for energy resources. Since Russia invaded... 

Qld hoping for hydrogen link with the Netherlands

By: Esmarie Iannucci     11th May 2022 The Queensland government is progressing with its strategy to become a green hydrogen exporter, signing a memorandum of understanding (MoU) with the Port of Rotterdam in The Netherlands to collaborate on opportunities to develop a hydrogen export supply chain. “This landmark agreement is another... 

Minerals Council spells out members’ commitment to climate change mitigation 

By: Martin Creamer     11th May 2022 Members of Minerals Council South Africa have agreed to commit to a climate change response strategy that will reduce Scope 1 and Scope 2 emissions and achieve a net zero emission by 2050 or earlier. Minerals Council South Africa senior health and environment executive Nikisi Lesufi on Tuesday... 

Creamer Media picture
Photo by Creamer Media
Minerals Council South Africa senior health and environment executive Nikisi Lesufi, closest right, with Minerals Council's Allan Seccombe, left.

South Africa keen to harness hydrogen economy opportunities, President Ramaphosa tells Indaba  

By: Martin Creamer     10th May 2022 It was just amazing to see the innovation that the mining industry is capable of scaling up, President Cyril Ramaphosa told the Investing in African Mining Indaba in his enthusiastic address on Tuesday. “Last week, I attended the launch by Anglo American of the world’s largest hydrogen-powered... 

Creamer Media picture taken of screen
Photo by Creamer Media
President Cyril Ramaphosa at the Investing in African Mining Indaba.

Demand headwinds push aluminium to five-month low

By: Reuters     10th May 2022 Aluminium fell to its lowest in nearly five months on Tuesday as funds betting on lower prices due to slowing demand sold, but worries about output cuts in Europe because of high power costs are expected to provide some support. Traders said funds had been selling for some days now, initially to... 

Altamin rejects shareholder's offer

By: Esmarie Iannucci     10th May 2022 Base metals developer Altamin is urging shareholders to reject a takeover offer from shareholder VBS Exchange. VBS earlier this month made an off-market takeover bid for Altamin, offering shareholders 9.5c in cash for all the shares it did not already own. VBS currently has a 19.73% interest in... 

Sibanye bides time on battery metals push as asset prices soar

By: Bloomberg     10th May 2022 Sibanye Stillwater CEO Neal Froneman plans to resume battery-metals acquisitions within two to three years, once inflated asset valuations come down. The veteran dealmaker wants to make the metals that are key to powering the electric-vehicle revolution a third pillar of Sibanye’s operations,... 

Sibanye CEO Neal Froneman
Sibanye CEO Neal Froneman

Energy transition presents opportunity to build inclusive ecosystem – Wanblad 

By: Martin Creamer     9th May 2022 The energy transition currently under way presents a fresh opportunity for South Africa to build a clean and inclusive energy ecosystem that can create new and significant economic opportunities for the African continent. This continent, with its vast natural reserves of abundant sun and wind,... 

Picture supplied.
New Anglo American CE Duncan Wanblad

Akobo reaches agreement for gold processing plant delivery

By: Darren Parker     9th May 2022 Scandinavian gold exploration and mining company Akobo Minerals has reached an agreement with South African engineering company Solo Resources for the delivery of a processing plant for gold production at the Segele mine, in Ethiopia. The commissioning of the plant is expected to start by end of... 

Sylvania to buy back up to $8.5m of its own shares

By: Darren Parker     9th May 2022 Aim-listed Sylvania Platinum has announced a programme to buy back up to $8.5-million of its ordinary shares in issue. The purpose of the share buyback is to reduce the share capital of the company. 

Steenkampskraal to list on LSE, JSE

By: Marleny Arnoldi     9th May 2022 Steenkampskraal Holdings (SHL), which owns the Steenkampskraal rare earths project, in the Western Cape, has decided to raise equity funding through a pre-initial public offering and public offering on the Aim market of the LSE and a secondary listing on the JSE. A subsidiary of SHL,... 

Steenkampskraal in the Western Cape
Steenkampskraal in the Western Cape

Britain to increase tariffs on Russian platinum, palladium in new sanctions

By: Reuters     9th May 2022 Britain announced on Sunday it will increase tariffs on platinum and palladium imports from Russia and Belarus in a new package of sanctions targeting £1.7-billion ($2.10-billion) of trade, which it said aimed to further weaken Russian President Vladimir Putin's war machine. Import tariffs on a... 

Green hydrogen can be produced in South Africa immediately, coal conference hears

By: Martin Creamer     6th May 2022 The generation of green hydrogen is achievable in South Africa immediately and is not a complicated process, Sasol just transition office head David Kawesha said on Friday. “You just need the renewable energy resource, electrolysers to split water, and that’s really what the basic process is,”... 

Picture taken by Creamer Media
Photo by Creamer Media
McCloskey's Southern African Coal Conference panel from left moderator Randy Fabi, Tracey Davies, Steve Nicholls, Jan Oberholzer and David Kawesha.

'The Rock', a record-setting white diamond, goes up for auction

By: Reuters     6th May 2022  The largest white diamond ever auctioned will go under the hammer in Geneva next week, part of a sale by Christie's that features two stones weighing more than 200 carats each. "The Rock", a 228.31 carat pear-shaped stone roughly the size of a golf ball, is expected to sell for up to $30... 

European Commission, European electrolyser industry agree to manufacturing framework conditions

By: Schalk Burger     6th May 2022 The European Commission and the European electrolyser industry have signed a joint declaration containing a range of initiatives to improve framework conditions for electrolyser manufacturers in Europe. In March, the European Commission announced its increased ambitions to double the previous... 

Robinson resigns as Goldplat chair

By: Darren Parker     6th May 2022 Aim-listed gold producer Goldplat nonexecutive chairperson Matthew Robinson has informed the company of his intention to resign as a director. He has notified the company that he would remain in his role until the next annual general meeting (AGM) to allow reasonable time for Goldplat to make... 

De Beers introduces pioneer blockchain-backed diamond source platform at scale

By: Tasneem Bulbulia     5th May 2022 Diamond miner De Beers Group is deploying the Tracr blockchain platform at scale for its diamond production. The group says Tracr is the world’s only distributed diamond blockchain that starts at the source and provides tamper-proof source assurance at scale, enabling sightholders to provide a... 

An image showing De Beers sighting
Tracr enables sightholders to provide a fixed record of a diamond’s origin

World Coal Association favours just energy transition to net zero future  

By: Martin Creamer     5th May 2022 The World Coal Association, and its member companies, are in favour of a just transition to a net zero future, World Coal Association chairperson July Ndlovu said on Thursday. In his keynote address to the Southern African Coal Conference, Ndlovu emphasised the sincerity of the association’s... 

Creamer Media photograph
Photo by Creamer Media
World Coal Association chairperson July Ndlovu
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