https://www.miningweekly.com
R/€ = 19.75 Change: -0.10
R/$ = 17.83 Change: -0.22
Au 1626.19 $/oz Change: 4.71
Pt 727.72 $/oz Change: -19.83
 

Middle East News

Gold pauses after best week since 2008 as caution reigns

By: Bloomberg     Updated 1 hour 13 minutes ago Gold edged lower after its best week since 2008 amid investor caution on policies aimed at mitigating the impact of the coronavirus pandemic. Bullion’s muted trading comes after the gold market was thrown into turmoil last week as the health crisis disrupted supply chains, creating a squeeze in... 

De Beers cancels third rough diamond sales cycle

By: Simone Liedtke     Updated 1 hour 18 minutes ago Owing to public health restrictions on the movement of people and products in Botswana, South Africa and India, diamond miner De Beers will not hold its third rough diamond sales cycle of this year. As a result, De Beers is enabling sightholders to defer 100% of their Sight 3 allocations to later... 

Proudly South African hydrogen breakthrough with Shell’s backing

By: Martin Creamer     Updated 2 hours 28 minutes ago At this time of huge coronavirus uncertainty, the chests of a group of engineers here must surely be bulging with pride following their major Proudly South African world breakthrough that could speed up the global deployment of hydrogen as a competitive universal and environmentally friendly... 

Proudly South African hydrogen breakthrough with Shell’s backing
Photo by Hydrox Holdings
Hydrox Holdings membraneless electrolyser.

Fitch Solutions says volatility to continue driving metals prices lower

By: Simone Liedtke     Updated 5 hours ago Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic. The agency notes that metal prices started the year on a strong footing as the... 

Fitch Solutions says volatility to continue driving metals prices lower

Mining could be enormous post-virus stabiliser – Minerals Council

By: Martin Creamer     29th March 2020 The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis  – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release. Post the coronavirus, South Africa would... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge

By: Martin Creamer     28th March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) and the Motsepe family on Saturday formed the key part of the partnership of companies and organisations that have pledged R1 billion to assist with the current coronavirus (Covid-19) pandemic... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge
Photo by Creamer Media
Dr Patrice Motsepe and Dr Precious Moloi-Motsepe at Saturday's remote media conference using the Internet to ensure social distance.

Mitsubishi unpacks movement of PGM markets amid lockdowns

By: Marleny Arnoldi     27th March 2020 Mitsubishi Corporation International (MCI) says in its latest precious metals update that it expects South Africa’s platinum supply to reduce by around 7%, or by between 200 000 oz and 300 000 oz, in light of closed operations during South Africa’s 21-day national lockdown. The announcement by... 

Mitsubishi unpacks movement of PGM markets amid lockdowns

Gold miner Polyus establishes Covid-19 fund

By: Tasneem Bulbulia     27th March 2020 LSE-listed gold producer Polyus, in cooperation with the Far East Development Fund (FEDF), will co-found finance activities aimed at preventing the spread of Covid-19 in the Russian Far East. The size of the fund is expected to reach ₽1-billion, reflecting donations from different parties. 

Metals and mining M&A up in February relative to January

By: Rebecca Campbell     27th March 2020 Research and consultancy company GlobalData has reported that mergers and acquisition (M&A) activity in the global mining and metals sector during February was, in value, higher than in January, but still substantially lower than the average figure for the previous 12 months. It was also very far... 

Covid-19 a wake-up call on import over-dependency – Madala

By: Martin Creamer     27th March 2020 The outbreak of Covid-19 internationally should be a wake-up call on the impact of South Africa’s dependency on imported products, Madala & Associates CEO Dilley Naidoo said on Friday. He urged that policies parallel to what was being implemented in the automotive sector should be prioritised in... 

Covid-19 a wake-up call on import over-dependency – Madala
Madala & Associates CEO Dilley Naidoo

Official gold holdings head for 34 000 t as global risks heighten 

By: Martin Creamer     26th March 2020 Central banks and supranational organisations, such as the International Monetary Fund and the Bank of International Settlements, currently hold nearly 34 000 t of gold as reserve assets, the World Gold Council reported on Thursday. The council puts the primary reason for recent gold buying down... 

Official gold holdings head for 34 000 t as global risks heighten
Photo by World Gold Council
Gold bars.

Sandvik to cut costs due to coronavirus impact, reduces dividend

By: Reuters     26th March 2020 Swedish mining gear and metal-cutting tools maker Sandvik on Thursday launched large cost-cutting measures in response to the rapid global spread of the coronavirus and said it would reduce its proposed dividend for 2019. While the company, a rival of Sweden's Epiroc and US group Kennametal,... 

Sandvik to cut costs due to coronavirus impact, reduces dividend

New gold futures contract launched – LBMA 

By: Martin Creamer     26th March 2020 A new gold futures contract just launched has expanded delivery options, London Bullion Market Association (LBMA) said on Thursday. The membership of LBMA, a gold and silver trade association, is made up of banks, traders and logistics companies across the world, resulting in it being given... 

New gold futures contract launched – LBMA
Photo by Creamer Media
LBMA executive board director Sakhila Mirza.

World Federation of Diamond Bourses to launch global trading platform soon

By: Marleny Arnoldi     26th March 2020 The World Federation of Diamond Bourses (WFDB) has created a World Federation Diamond Trading Platform to provide a secure and reliable source of trading amid uncertain times globally, while promoting trade and healthy competition in the diamond market. The cross-bourse trading platform will be... 

World Federation of Diamond Bourses to launch global trading platform soon

Online bullion accounts, ETFs the way to go amid Covid-19 lockdowns 

By: Marleny Arnoldi     26th March 2020 Now that supply of retail products is tightening amid Coronavirus contingency measures and lockdowns, investing in physical platinum without taking delivery of investment bars and coins is an accessible and cost-effective way of owning platinum, says the World Platinum Investment Council (WPIC).... 

Online bullion accounts, ETFs the way to go amid Covid-19 lockdowns

Global mining majors putting bright new spotlight on green hydrogen 

By: Martin Creamer     25th March 2020 Three years ago the Hydrogen Council catapulted hydrogen to the forefront as a source of energy for transport and industrial companies. Now mining majors are putting the spotlight on hydrogen once again with the launch of the Green Hydrogen Consortium, which Hatch marketing coordinator Alana... 

Global mining majors putting bright new spotlight on green hydrogen
Liquid organic hydrogen carrier (LOHC) technology renders hydrogen oil-like.

China's first iron-ore futures ETF raises $11m ahead of Friday debut

By: Reuters     25th March 2020 China's first iron ore futures-based exchange traded fund (ETF) has raised $11-million from institutional investors and clients at private banks, according to the manager of the fund, which will list in Hong Kong on Friday. The ETF, managed by the Hong Kong unit of Chinese broker Shanxi... 

China's first iron-ore futures ETF raises $11m ahead of Friday debut

Gold in historic squeeze as virus snarls trade and spurs demand

By: Bloomberg     25th March 2020 An extraordinary squeeze in the gold market has forced the main U.S. exchange to take action as the global pandemic shuts down physical trading routes just as investors are racing to buy the metal as a safe haven. Banks and traders typically ship gold around the world on commercial flights,... 

Gold investors are betting that it’s 2008 all over again

By: Bloomberg     24th March 2020 Gold’s haven reputation took a serious beating, with prices tumbling as investors sought to free up cash amid a broad and devastating market rout. Sound familiar? Sure, it’s the story of gold for much of this month. But that’s only half the answer. It’s also a scenario that played out in the... 

Rupture of copper demand to fuel surplus as industry hit by virus

By: Reuters     23rd March 2020 A slide in copper demand as much of the world's manufacturing sector is disrupted by the coronavirus outbreak is expected to fuel a surplus this year of up to a million tonnes in what was expected to be a balanced market. Most analysts are still revising estimates but they say the loss of... 

Rupture of copper demand to fuel surplus as industry hit by virus

If we don’t take climate change seriously, God help us – Mxolisi Mgojo   

By: Martin Creamer     23rd March 2020 Coal mining company Exxaro Resources, which acknowledges coal’s negative impact on climate in a 20-page publication just released, expresses the view that a just transition to a low-carbon future should inform global climate action. “If we don’t take climate change issues very, very seriously,... 

If we don’t take climate change seriously, God help us – Mxolisi Mgojo
Exxaro CEO Mxolisi Mgojo presentation covered by Mining Weekly’s Martin Creamer. Video Editing: Nichols Boyd. Photograph: Donna Slater. Video: Kutlwano Matlala.

Oil and gas producers in for tough times - Woodmac

By: Esmarie Iannucci     23rd March 2020 The upstream oil and gas sector was facing unprecedented uncertainty with the massive fall in the oil price and the uncertain market environment brought on by Covid-19, industry analyst Wood Mackenzie (Woodmac) has reported. In a research note, Woodmac noted that the upstream oil and gas sector’s... 

Gold pares weekly losses after weaker dollar brings relief 

By: Bloomberg     20th March 2020 Bullion got a reprieve Friday as the dollar halted its rally, although the metal remains poised for a back-to-back weekly loss. Gold headed for its biggest daily gain since March 3 and silver earlier jumped the most since 2014. Precious metals are rebounding after days of relentless selling by... 

Gold pares weekly losses after weaker dollar brings relief

Buy gold 'right here and now', top wealth manager says 

By: Bloomberg     20th March 2020 Now’s the time to buy gold, according to one of the world’s leading wealth managers, which flagged bullion’s prospects after the haven lost out to the dollar in recent weeks as the pandemic roils markets. “When I think about what would I buy in the right here and now, I would be buying gold,”... 

Buy gold 'right here and now', top wealth manager says

Anglo takes companywide measures to limit spread, mitigate impacts of Covid-19 

By: Marleny Arnoldi     20th March 2020 Global diversified miner Anglo American has announced the measures that it is taking in light of the Covid-19 outbreak across its mining and corporate operations. CE Mark Cutifani says the measures are often tailored to the specific nature and location of a particular site to protect the... 

Anglo takes companywide measures to limit spread, mitigate impacts of Covid-19

Gold to remain attractive investment asset despite impact of Covid-19

By: Marleny Arnoldi     19th March 2020 The World Gold Council (WGC) on Thursday said deceleration in economic growth globally will undoubtedly impact on consumer demand for gold and gold’s volatility may remain high. However, high risk levels, coupled with widespread negative real rates and quantitative easing, will be supportive of... 

Gold to remain attractive investment asset despite impact of Covid-19

Fitch lowers mineral output forecasts for 2020 in light of mine stoppages

By: Marleny Arnoldi     19th March 2020 Research agency Fitch Solutions has revised downwards some of its mineral production forecasts for this year, in light of increasing operational disruptions while Covid-19 continues to spread globally. For example, Fitch revised its production forecast for copper to 20.28-million tonnes, from... 

Question marks over protracted re-entry of trimetal PGM catalysis  

By: Martin Creamer     19th March 2020 Trimetal catalysts, which use three platinum group metals (PGMs) rather than two and thereby balance PGM demand, have a multi-decade history of curbing gasoline vehicle emission, which poses question marks over why their re-adoption should be so protracted. New York-based CPM Group MD Jeffrey... 

Question marks over protracted re-entry of trimetal PGM catalysis
Photo by Creamer Media
CPM Group MD Jeffrey Christian

After the rout, platinum and palladium face more turmoil before recovery

By: Reuters     19th March 2020 Platinum and palladium will remain turbulent in coming months after huge losses sparked by the spread of coronavirus, before starting a tentative recovery with support from palladium's supply gap and platinum's correlation with gold, analysts said. Platinum has plunged 40% and palladium 45% from... 

From using drones to stockpiling cyanide, miners keep digging amid pandemic

By: Reuters     18th March 2020 From using drones for field inspections to stockpiling cyanide, miners are scrambling to maintain output amid the coronavirus pandemic, a task made trickier in underground mines where social distancing is nearly impossible. The virus has claimed 8 700 lives and infected over 200 000 globally.... 

From using drones to stockpiling cyanide, miners keep digging amid pandemic

Stunned world grapples with 'once-in-100-year' coronavirus battle

By: Reuters     18th March 2020 Hundreds of millions of people worldwide were adjusting on Wednesday to once-in-a-generation measures to battle the coronavirus crisis that is not only killing the old and vulnerable but also threatening prolonged economic misery. The fast-spreading disease that jumped from animals to humans in... 

Menar progressing gold project in Kyrgyzstan  

By: Martin Creamer     17th March 2020 Private investment and management company Menar, which is planning to invest R7-billion in coal projects in South Africa, is also progressing a gold project in Kyrgyzstan. “We’re looking at a sizeable gold project,” said Menar MD Vuslat Bayoǧlu, who is hoping that the Kyrgyzstan project will... 

Menar progressing gold project in Kyrgyzstan
Menar MD Vuslat Bayoǧlu talks to Mining Weekly’s Martin Creamer about gold project in Kyrgyzstan. Video Editing: Nicholas Boyd. Photograph: Donna Slater. Video: Kutlwano Matlala.

Slowing demand likely to push zinc price lower this year, says Fitch Solutions

By: Marleny Arnoldi     17th March 2020 Research agency Fitch Solutions has revised its forecast for the zinc price for this year to $2 250/t, down from $2 450/t previously, as an amalgam of market forces put in motion by the Covid-19 outbreak, which has led to factory shutdowns in China and other parts of the world. The average zinc... 

Slowing demand likely to push zinc price lower this year, says Fitch Solutions

Iron-ore prices resilient, activity levels healthy – S&P Global Platts

By: Reuters     17th March 2020 S&P Global Platts, which produces an iron ore benchmark index, said on Monday iron-ore prices have been resilient and activity levels have remained healthy recently. On Sunday, the China Iron & Steel Association (CISA) had warned about speculation risks in the market as the iron ore index was... 

Gold slumps and platinum falls by most ever amid hunt for cash 

By: Bloomberg     16th March 2020 Precious metals took another beating on concerns that a wave of emergency stimulus measures by central banks won’t be enough to improve a rapidly deteriorating economic outlook. Gold, coming off the biggest weekly drop in almost four decades, extended losses below $1 500/oz as market sentiment... 

Gold slumps and platinum falls by most ever amid hunt for cash

Oil falls deeper into turmoil triggered by epic demand collapse

By: Bloomberg     16th March 2020 Oil’s spectacular collapse deepened as widening global efforts to fight the spread of coronavirus were set to trigger the most severe contraction in annual oil demand in history. Futures tumbled by more than 6% after plunging by a quarter last week -- the largest drop since 2008. Even a massive... 

Gold’s worst week since 1983 strips metal of safe-haven status

By: Bloomberg     15th March 2020 Gold posted its worst week in over three decades, joining the collapse across global markets that not even the traditional safe haven could dodge. In the rush to raise cash and cover losses in other markets, investors are pulling their money out of bullion, typically seen as a store of value... 

Gold joins global market slump as investors cash in on rally

By: Bloomberg     13th March 2020 Not even the safe haven of gold has been spared from this week’s global market rout. Bullion is set for its biggest weekly loss since 2016, despite climbing to the highest in more than seven years earlier this week, as investors sell the metal to meet liquidity needs. Volatility continued in... 

Gold joins global market slump as investors cash in on rally
First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Latest News: Africa and Europe

Latest News: Americas

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Register Close