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Middle East News

Pleasing Orion bankable points to fast project payback 

By: Martin Creamer     Updated 3 hours ago Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS... 

Gold gains to near highest since 2013 as bulls ‘back in control’

By: Bloomberg     24th June 2019 Gold’s bullish momentum has rolled into a new week. Prices extended their advance above $1 400/oz, near the highest level since September 2013, after the Federal Reserve and other central banks turned more dovish on monetary policy.  

Gold gains to near highest since 2013 as bulls ‘back in control’

Kefi starts fieldwork at Saudi Arabia project

By: Simone Liedtke     21st June 2019 Aim-listed Kefi Minerals on Friday reported that fieldwork had started at its Hawiah exploration licence, in Saudi Arabia. The fieldwork began with a modest cost but a potentially high-impact induced polarisation and resistivity geophysical survey aimed at better defining the large volcanogenic... 

Gold spikes to more than 5-year high as Fed signals ready to cut 

By: Bloomberg     20th June 2019 Gold jumped to the highest in more than five years after the US Federal Reserve indicated a readiness to cut interest rates and the dollar tumbled. Gold had a lackluster start to the year but gained momentum this month as investors sought havens amid slowing global growth due to the fallout from... 

Gold spikes to more than 5-year high as Fed signals ready to cut

Six new members join Hydrogen Council

By: Creamer Media Reporter      18th June 2019 Six new member companies have joined the Hydrogen Council, a global CEO-led initiative for hydrogen technologies. The council now has 60 members after BP joined as a steering member and AVL, Itochu Corporation, Liebherr Group, Power Assets Holdings and SinoHytec joined as supporting members. 

The world will get half its power from wind, solar by 2050

By: Bloomberg     18th June 2019 Nearly half the world’s electricity will come from renewable energy by 2050 as costs of wind, solar and battery storage continue to plummet. That titanic shift over the next three decades will come as electricity demand increases 62% and investors pump $13.3-trillion into new projects, according... 

Swiss refiner Metalor to stop processing artisanal gold

By: Reuters     18th June 2019 Switzerland's Metalor, one of the world's biggest gold refineries, said on Monday it would work only with gold from large industrial mines in order to reduce the risk of illegality in its supply chain. Informal methods of gold production, known as "artisanal" or small-scale mining, have grown... 

Gold busts above $1 350 as Iran tension, fed outlook spur demand 

By: Bloomberg     14th June 2019 Gold smashed above $1 350/oz to a 14-month high as rising geopolitical tensions bolster haven demand ahead of next week’s Federal Reserve meeting, when policy makers may move closer to cutting rates. Bullion for immediate delivery rose as much as 1.2% to $1 358.26/oz. Prices are set for a fourth... 

Oil set for weekly drop as tanker attacks can't dispel trade woes

By: Bloomberg     14th June 2019 Oil headed for a weekly decline as the tanker attacks in the Middle East provided only a relatively small boost to prices that have been hammered by a deepening trade war and swelling US stockpiles. Futures in New York were steady after rising 2.2% Thursday. The White House blamed Iran for the... 

Platinum mine truck being converted to run on hydrogen 

By: Martin Creamer     13th June 2019 Early research and development work has begun to pave the way for the introduction of hydrogen fuel cell electric trucking at a local platinum mine, Mining Weekly Online can today report. A truck is currently being converted to run on hydrogen, which will initially be brought to the mine in tankers. 

Platinum mine truck being converted to run on hydrogen
Inner workings of platinum-catalysed hydrogen fuel cell

Oil demand signals are flashing red as price dives toward $50

By: Bloomberg     12th June 2019 Oil demand is shriveling as the trade war between the US and China trips up the global economy. Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley. Indicators including the profit from... 

Norway fund may have to offload $1bn stake in Glencore in shift away from coal 

By: Reuters     12th June 2019 Norway's $1-trillion sovereign wealth fund may have to sell its $1-billion stake in commodities giant Glencore, among other companies that derive more than 30% of their revenue from coal, to meet proposed tighter ethical investing rules. Under the centre-right government's plan, expected to be... 

Norway fund may have to offload $1bn stake in Glencore in shift away from coal

Erratic weather boosts energy demand, denting climate goals – BP 

By: Reuters     11th June 2019 Extreme temperatures around the globe drove a sharp acceleration in energy demand and carbon emissions last year, oil giant BP said on Tuesday, issuing a stark warning that the world risks losing the battle against climate change. And while 2018 saw another sharp pick up in renewable power such... 

China's grip on rare earths began with a decision 30 years ago

By: Bloomberg     11th June 2019 It was Beijing’s decision almost 30 years ago to make rare earths a strategic material and ban foreigners from mining them that helped pave the way for China to elbow aside the US as the world’s leading producer. In the intervening period, as China tightened control of domestic output of rare... 

China's grip on rare earths began with a decision 30 years ago

South Africa should go all out with platinum and manganese to be in best of two decarbonising worlds 

By: Martin Creamer     10th June 2019 South Africa, which has a wonderful platinum group metals (PGMs) endowment and an abundance of high-quality manganese ore, should go all out to be in the best of two new carbon-reducing technology worlds. On the one hand, it should do all it can to be in the world of hydrogen with the help of... 

South Africa should go all out with platinum and manganese to be in best of two decarbonising worlds
Photo by Toyota/Anglo American
A fuel cell electric vehicle requires platinum

Swiss expert to start work on new standards for mining dam safety

By: Reuters     10th June 2019 A Swiss environmental expert will make a fact-finding trip this week to the site of the Vale dam disaster in Brazil to start work on setting new dam safety standards for miners. The safety of dams used to store mining waste, known as tailings, gained prominence after the collapse of Vale's dam... 

Trade war uncertainty is 'enemy' of global growth, Gurria says

By: Bloomberg     7th June 2019 Trade tensions have cost the world close to 1 percentage point in terms of growth, according to Angel Gurria, secretary-general of the Organization for Economic Cooperation and Development. “It’s gotten very bad,” Gurria said in an interview with Bloomberg Television’s Kathleen Hays in Fukuoka,... 

Northern Cape may be where parts of Australia were in 90s – The Mineral Corporation 

By: Martin Creamer     6th June 2019 South Africa’s highly prospective Northern Cape may now be where geologically endowed parts Australia were in the early 1990s, John Murphy, the MD of The Mineral Corporation (TMC), said on Thursday. Speaking to Mining Weekly Online in an exclusive interview at the 21-year-old advisory group’s... 

Northern Cape may be where parts of Australia were in 90s – The Mineral Corporation
Photo by Creamer Media Photographer Dylan Slater
The Mineral Corporation MD John Murphy.

Manganese poised to make its mark as EV metal  

By: Martin Creamer     5th June 2019 Manganese could make its mark in the battery electric vehicle (EV) arena by displacing cobalt to a large extent in many of the cathode formulations, where the bulk of battery metals are used. The Junior Indaba heard on Wednesday that manganese, which South Africa hosts in abundance, is in a race... 

Manganese poised to make its mark as EV metal
Junior Indaba strategic metals discussion covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer

Companies lag in climate-related disclosures – G20 Task Force

By: Reuters     5th June 2019 Companies are failing to disclose sufficient detail about how exposed they are to the potential risks of climate change, a global task force said in a report on Wednesday. Many investors have called on companies to provide better communication on how climate change could impact their businesses,... 

Companies lag in climate-related disclosures – G20 Task Force

Steinmetz's BSGR bankruptcy fends off Vale's $2bn award

By: Bloomberg     5th June 2019 Billionaire Beny Steinmetz’s mining company sought bankruptcy protection in the US, two months after losing a $2-billion arbitration award to Brazilian mining giant Vale SA. The court filing by BSG Resources on Monday could stymie Vale’s effort to enforce the award, which stems from an ill-fated... 

Steinmetz's BSGR bankruptcy fends off Vale's $2bn award

Top miners doing well, but not getting credit for it – PwC 

By: Simone Liedtke     4th June 2019 The world’s top 40 mining companies continued to consolidate their performance of the past several years by delivering steady growth in 2018, PwC’s ‘Mine 2019’ report, published on Tuesday, states. Combined, these companies’ revenue had increased by 8% year-on-year, which PwC says was buoyed by... 

Top miners doing well, but not getting credit for it – PwC
Photo by Creamer Media's Dylan Slater
(Left to Right) PwC assurance partner Andries Rossouw, PwC director Sizwe Mtetwa and PwC Africa energy utilities and resources leader Michal Kotzé

Junior mining badly in need of kickstart – Swanepoel   

By: Martin Creamer     4th June 2019 Junior mining is badly in need of a policy framework that will kickstart activity, mining luminary Bernard Swanepoel said on Tuesday. Speaking to a packed 2019 Junior Indaba conference for explorers, developers and investors in junior mining, Swanepoel outlined how he had boldly stepped into the... 

Junior mining badly in need of kickstart – Swanepoel
Junior Indaba opening addresses covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer. Photographs: Creamer Media’s Dylan Slater.

Independent power producer association hails Mantashe's appointment

By: Martin Creamer     31st May 2019 The appointment of Gwede Mantashe as the Minister of Mineral Resources and Energy has been welcomed by the South African Independent Power Producer Association (SAIPPA), which described as “massive” the challenges he, Deputy Mineral Resources and Energy Minister Bavelile Hlongwa and the rest of... 

Commentators differ on whether recent price slide indicates palladium bubble has burst 

By: Simone Liedtke     31st May 2019 Much price volatility is predicted for palladium – primarily an industrial metal for use in autocatalysts – over the next year, driven particularly by unpredictable trade sentiment as the US/China dispute unfolds, says multidisciplinary research team Afriforesight's chief precious metals analyst... 

Commentators differ on whether recent price slide indicates palladium bubble has burst

Labour issues at Mototolo platinum mine resolved – Amplats 

By: Martin Creamer     30th May 2019 The labour issues at the Mototolo platinum mine in Limpopo have been resolved, Anglo American Platinum (Amplats) said on Thursday. The General Industrial Workers Union has accepted that the proposed medical aid meets the requirement of the Section 197 transfer, undertaken after Amplats acquired... 

Labour issues at Mototolo platinum mine resolved – Amplats
Photo by Creamer Media
Anglo American Platinum CEO Chris Griffith.

Researchers at Mandela Mining Precinct deserve strong support 

By: Martin Creamer     29th May 2019 Following a period of marked disintegration of mining research in South Africa, there is now a positive new thrust emerging from the research, development and innovation (RDI) units active at the Mandela Mining Precinct in Carlow Road, Johannesburg. These RDI teams are making use of the exciting... 

Researchers at Mandela Mining Precinct deserve strong support
Solutions needed for mining at depth.

Collective SA effort needed to spotlight platinum’s deftness in climate change battle  

By: Martin Creamer     28th May 2019 More vehicle manufacturers are acknowledging that platinum-catalysed hydrogen fuel cells are the sole route to 100% carbon-free driving. But platinum’s own catalytic prowess is in danger of being under-acknowledged. 

Collective SA effort needed to spotlight platinum’s deftness in climate change battle
Photo by Reuters
Inner workings of platinum-using electric vehicle

Saudi miner said to weigh world's biggest rights issue in a year

By: Bloomberg     27th May 2019 Saudi Arabian Mining is weighing a plan to raise as much as $5-billion through a rights offering that could be the biggest since mid-2018, according to people with knowledge of the matter. The shares slumped. The company, also known as Maaden, is working with HSBC Holdings’ Saudi Arabia unit on... 

Nordgold recovers from fourth-quarter net loss

By: Marleny Arnoldi     24th May 2019 Aim-listed gold miner Nordgold has had a less productive first quarter and, on Friday, reported a 6% year-on-year decline in production to 211 700 gold-equivalent ounces (GEO), compared with the 225 100 GEOs produced in the first quarter of 2018. Production for the quarter was also 9% lower... 

Use remote machinery to mine at depth ­– Jourdan 

By: Martin Creamer     23rd May 2019 Independent consultant Dr Paul Jourdan on Thursday called on South Africa to cease sending people down dangerous deep-level mines and introduce remote machinery to mine at depth. He was speaking at the Southern African Mining Supply Chain Conference and Strategy Workshop, which was hosted by the... 

Use remote machinery to mine at depth ­– Jourdan
Photo by Creamer Media
Dr Paul Jourdan at the SA Mining Supply Chain Conference.

BHP keen on more copper, nickel sulphide and oil

By: Esmarie Iannucci     22nd May 2019 Mining major BHP on Wednesday laid out its near-term plans for investors, saying that the company would look to add “options” in copper, nickel sulphides and oil. Speaking to investors, CFO Peter Beaven that BHP analysed a number of scenarios to ensure that the company’s portfolio was resilient... 

BHP keen on more copper, nickel sulphide and oil

Oil climbs as Opec signal on output curbs overshadows trade risk

By: Bloomberg     21st May 2019 Oil rose for a second day on signs Opec and its allies will extend production cuts beyond June, while a steadily deteriorating US-China trade relationship kept prices from pushing higher. Futures in New York extended their gains after closing up 0.5% on Monday. Saudi Energy Minister Khalid... 

Ariana’s Kiziltepe reports solid start to 2019

By: Simone Liedtke     20th May 2019 Turkey-focused explorer and developer Ariana Resources on Monday reported that its Kiziltepe project produced 7 296 oz of gold during the quarter ended March 31, 2019, reflecting a solid start to 2019. Kiziltepe is part of the Red Rabbit joint venture with Proccea Construction and is 50%-owned by... 

Researchers see manganese helping fuel cells down cost curve 

By: Martin Creamer     20th May 2019 A new manganese-containing material may contribute to platinum-using hydrogen fuel cells being driven down the cost curve. The new material, made from manganese hydride, is being earmarked for use in molecular sieves that work with the fuel cells in hydrogen fuelled systems that generate... 

Researchers see manganese helping fuel cells down cost curve
Hydrogen fuel cell cars use hydrogen and oxygen to generate electricity with the help of platinum.

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit 

By: Martin Creamer     15th May 2019 Platinum group metals and chrome mining company Tharisa Minerals has not allowed lower half-year production, profit and cash flow to get in the way of declaring an interim dividend. The Johannesburg- and London-listed company declared a $0.005-a-share payout on earnings a share of $0.4c, in... 

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit
Photo by Creamer Media
Tharisa Minerals CEO Phoevos Pouroulis.

Trade war spurs 'change in attitude' on gold for spooked markets

By: Bloomberg     15th May 2019 Donald Trump’s tweets are keeping global financial markets on edge, and many investors are opting for gold as a refuge. Gold open interest, a tally of outstanding futures contracts, surged the most since mid-2016 on Monday to the highest in more than seven weeks. Prices of the metal have advanced... 

Trade war spurs 'change in attitude' on gold for spooked markets

President's correct, S Africans need to act together to realise economic opportunities – Baissac   

By: Martin Creamer     14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer about South Africa’s economic growth needs. Video: Nicholas Boyd. Photograph: Dylan Slater.
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