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Middle East News

300-plus vehicle fleets assessed for cleaner, safer mine mobility in five regions – ICMM 

By: Martin Creamer     15th June 2021 As part of the cleaner, safer vehicles initiative of the International Council on Mining and Metals (ICMM), more than 300 vehicle fleets have this year been assessed for cleaner, safer mobility on more than 300 mines in five regions globally, ICMM health, safety and product stewardship director... 

Copper’s supercharged rally creaks on signs of softer demand

By: Bloomberg     15th June 2021 Copper’s stellar rally is starting to creak as investors unwind their bullish bets and evidence of demand weakness mounts in China’s powerhouse manufacturing sector. Prices plunged as much as 4.3% in London, crashing through their 50-day moving average to trade at a seven-week low. Copper hit an... 

Copper’s supercharged rally creaks on signs of softer demand

South African ferrochrome furnaces need to regain competitive advantage, warns Roskill 

By: Simone Liedtke     15th June 2021 The South African ferrochrome industry has benefitted from recent events in China, which commodity research consultancy Roskill says has removed significant global capacity through the closure of small furnaces. While higher-cost furnaces in southern China have been able to fill the short-term... 

South African ferrochrome furnaces need to regain competitive advantage, warns Roskill

White House highlights manganese as potential preferred battery element contender 

By: Martin Creamer     14th June 2021 The White House document on revitalising American manufacturing and fostering broad-based economic growth pays particular attention to South Africa as the world’s largest supplier of manganese, and to manganese as a potential preferred battery element contender, Mining Weekly can today report.... 

White House highlights manganese as potential preferred battery element contender
Photo by Creamer Media
The White House on building supply chains.

Platinum jewellery sales continue to record strong rebound

By: Simone Liedtke     11th June 2021 Despite ongoing challenges escalated by the Covid-19 pandemic, platinum jewellery retailers and manufacturers report a sustained recovery across three of four key markets in the latest ‘Platinum Jewellery Business Review (PJBR)’ report for the first quarter of this year. The strong momentum is... 

Allow geologists from surrounding African countries to boost SA's exploration rebirth, top explorer advises  

By: Martin Creamer     11th June 2021 Exploration geologists from surrounding countries should be allowed into South Africa to boost exploration. That is the view of Exploration Geology Consultants exploration manager Thinus Jordaan, who believes that South Africa’s planned exploration thrust should focus on commodities required in... 

Allow geologists from surrounding African countries to boost SA's exploration rebirth, top explorer advises
Exploration manager Thinus Jordaan interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Iron-ore scales over three-week high on China demand, supply risks

By: Reuters     11th June 2021 Iron-ore futures jumped on Friday to their highest in more than three weeks, as a rebound in steel inventory in top producer China suggested that demand for the raw material remained brisk. The most-traded September iron ore on China's Dalian Commodity Exchange rose as much as 4.1% to 1 226 yuan... 

Coal expected to remain dominant source of power in the coming decade - Fitch Solutions

By: Simone Liedtke     10th June 2021 Coal is expected to remain the dominant source of power for most of Southeast Asia and Australia in the coming decade, at least, and Fitch Solutions Country Risk and Industry Research says that will support the mining of coal and coal trade in the region. Coal currently remains the most practical... 

Sandvik expects bigger market for battery-driven mining gear in two to three years

By: Reuters     10th June 2021 Sandvik expects the market for battery-electric underground mining equipment to hit a higher gear in two to three years, as mining companies attempt to lower emissions and cut costs. With an electrification boom looming, Sandvik, whose competitors include Epiroc and Caterpillar, could sell more... 

Investors with $41tr ask G7 to stop subsidising fossil fuels

By: Bloomberg     10th June 2021 A coalition of investors overseeing a combined $41-trillion of assets have called on world leaders to set more ambitious greenhouse-gas emissions targets and end support for fossil fuels. DWS Group, Legal and General Investment Management and Pacific Investment Management Co were among 457... 

Secretive world of diamonds is in the grips of a buying frenzy 

By: Bloomberg     9th June 2021 At the latest De Beers diamond auction this week, buyers shopping for the kind of stones used to make an average engagement ring were in for a sticker shock: some prices had ballooned by 10% since the last sale. News of the unusually sharp increases spread swiftly through the community of 80-odd... 

Regenerative coal mining crucial part of just transition to green economy – Bevan Jones 

By: Martin Creamer     9th June 2021 A shift to “regenerative mining” of coal reserves is a crucial part of a solution to a greener, cleaner future, said African Source Markets CEO Bevan Jones on Wednesday. Jones, a former commodity trader at Macquarie and Rand Merchant Bank, who cofounded the global coal market in London in the... 

Regenerative coal mining crucial part of just transition to green economy – Bevan Jones
African Source Markets CEO Bevan Jones

Iron-ore jumps on supply concerns, shrugs off China price watch

By: Reuters     9th June 2021 Iron-ore futures rose on Wednesday, with the Dalian benchmark contract gaining up to 5.4% after a three-day slump, as worries over supply boosted prices of the steelmaking raw material. The most-traded September iron-ore on China's Dalian Commodity Exchange ended daytime trading 4% higher at 1... 

New Moody’s scores to reflect ESG risks

By: Marleny Arnoldi     8th June 2021 Ratings agency Moody’s has published environmental, social and governance (ESG) issuer profile and credit impact scores for various rated issuers in the global metals and mining sector. This follows on the agency’s publication of ESG scores for a range of corporate issuers, utilities and US... 

South Africa accounts for half of ICMM members' mining fatalities

By: Marleny Arnoldi     8th June 2021 A latest safety performance report by the International Council on Mining and Metals (ICMM) finds that South Africa had the highest fatality rate last year, accounting for 50% of all fatalities globally. The country recorded 22 fatalities from 422-million hours worked. 

South Africa accounts for half of ICMM members' mining fatalities

Central banks expected to buy the same amount of gold as last year, says WGC 

By: Simone Liedtke     8th June 2021 Central banks continue to be positive on gold, with about the same number of central banks expected to buy gold compared with last year, the World Gold Council (WGC) said on June 8. In its the ‘2021 Central Bank Gold Reserves (CBGR)’ survey, the council noted that 21% of central banks intend to... 

Central banks expected to buy the same amount of gold as last year, says WGC

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

Gold ETFs add $3.4bn to supply, reversing three months of net outflows

By: Simone Liedtke     7th June 2021 Global gold exchange-traded funds (ETFs) added 61.3 t, valued at about $3.4-billion, in May, reversing three straight months of net outflows, which the World Gold Council (WGC) says is largely a function of investment demand increasing with the price strength of gold, along with renewed inflation... 

Weekly Coal Index Report

7th June 2021 Short seller Boatman Capital has made news in a full-frontal attack on Thungela Resources’ environmental liabilities. However, when one sees coal miners as transitioning to “regenerative miners”, working with Nature to restore soil and water, while creating jobs for local communities, then one... 

Weekly Coal Index Report

Iron-ore tumbles as optimism around China demand fades

By: Reuters     7th June 2021 Iron-ore prices tumbled on Monday as China's subdued trade data for May and narrowing steel profit margins dampened the market's enthusiasm about demand prospects for the steelmaking ingredient. China, which accounts for more than half of the world's steel output, imported 89.79 million tonnes of... 

Iron-ore tumbles as optimism around China demand fades

Anglo responds to dossier on coal demerging, Thungela shares fall 

By: Martin Creamer     6th June 2021 The provision of R6.45-billion on the balance sheet of the demerged Thungela thermal coal company is over and above the regulatory guidance for miners in South Africa, is in accordance with IFRS and audited, and consistent with the provisioning norms within the industry. This was stated to Mining... 

Anglo responds to dossier on coal demerging, Thungela shares fall
Clouds over environmental liabilities.

Global copper smelting extends recovery in May

By: Reuters     4th June 2021 Global copper smelting extended its rebound in May, touching fresh highs for the year as operations continued to take advantage of strong prices, data from satellite surveillance of copper plants showed. Activity in China was strong at first, but weakened through the month as smelters undertook... 

It’s not over for coal yet as global prices surge on hot demand

By: Bloomberg     3rd June 2021 Coal is seeing a dramatic spike in demand just as several major miners are hit with production problems, sparking a surge in prices from China to Europe and the US. Prices for the dirtiest fossil fuel are soaring as sweltering temperatures in North Asia increase air conditioning needs, adding to... 

Fitch Solutions raises nickel price forecast

By: Marleny Arnoldi     2nd June 2021 Research agency Fitch Solutions and Country Risk has revised upward its average nickel price forecast for the year from $15 750/t to $16 500/t. The agency says nickel is enjoying strong demand from stainless steel producers, while a sustained market deficit will support higher prices up to 2025.  

Hot prices pervading commodities market, CRU tells Junior Indaba  

By: Martin Creamer     2nd June 2021 Price hotness is pervading the commodities market, CRU senior analyst Clare Hanna said on Tuesday, when she addressed the second and final day of the Junior Indaba. Speaking on ‘what’s hot and what’s not’, Hanna said almost all commodities were at the higher-than-15% level. (Also watch attached... 

Hot prices pervading commodities market, CRU tells Junior Indaba
CRU senior analyst Clare Hanna at Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

2021 to be ‘exceptional year of earnings’ for miners, research agency forecasts

By: Simone Liedtke     2nd June 2021 The 2021 financial year will prove to be an “exceptional year of earnings” for miners, while bringing with it a paradigm shift in terms of mining strategy, says research agency Fitch Solutions and Country Risk. It explains that mining companies are major beneficiaries of the metal price rally... 

Tender for new modern cadastre system to be invited next week   

By: Martin Creamer     1st June 2021 A tender for a new modern cadastre system to provide exploration information will be invited by the end of next week, Department of Mineral Resources and Energy (DMRE) director-general Advocate Thabo Mokoena said on Tuesday. In his opening keynote address on initiatives to ignite the exploration... 

Tender for new modern cadastre system to be invited next week
Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Project house DRA applies for secondary inward JSE listing 

By: Martin Creamer     29th May 2021 The 37-year-old South Africa-rooted project house DRA Global has applied for a secondary inward listing on the JSE under the main board’s construction and materials, engineering and contracting services sector. The diversified engineering, project and operations management group – now... 

Project house DRA applies for secondary inward JSE listing
Pan African Resources’ Elikhulu...one of DRA's gold projects.

Lithium outlook for next decade ‘very upbeat’ as decarbonisation, electrification accelerate 

By: Simone Liedtke     28th May 2021 The outlook for the lithium sector over a ten-year horizon is very upbeat, amid fast production and demand growth and numerous opportunities across a variety of countries, says research agency Fitch Solutions and Country Risk. It adds that the backdrop for lithium is “as bright as ever” as the... 

Lithium outlook for next decade ‘very upbeat’ as decarbonisation, electrification accelerate

Fitch lifts 2021 pricing assumptions for various metals 

By: Marleny Arnoldi     28th May 2021 Credit ratings agency Fitch Ratings has increased its copper price assumptions, among others, following “exceptionally” strong pricing conditions in the year-to-date. The agency declared a new price assumption of $9 000/t for this year, up from its previous assumption of $7 200/t.  

Iron-ore benchmarks rise on China's steel output plans

By: Reuters     28th May 2021 Iron-ore futures in Asia rose on Friday, but were set for a third weekly decline on persistent price-control concerns. Top steel producer China's recent statements on steel capacity reforms had sparked worries about tight supply prospects, pushing prices to record highs earlier this month. 

Cobalt market expected to double in size by 2025

By: Simone Liedtke     27th May 2021 The 120 000 t/y to 130 000 t/y cobalt market is expected to double in size by 2025, with about half of global demand to be from batteries, says diversified commodities producer Glencore head cobalt trader David Brocas, who was quoted in investment banker Jefferies' latest cobalt-focused metals... 

Copper industry to return to pre-pandemic levels this year

By: Simone Liedtke     27th May 2021 The Covid-19-induced downturn in the copper industry is health related, and not economic like the 2008/9 global financial crisis, International Wrought Copper Council (IWCC) president Mark Loveitt said this week. During a copper-focused conference, hosted by consultancy Roskill on May 26, Loveitt... 

Concern over lack of JSE listings ahead of Junior Indaba  

By: Martin Creamer     27th May 2021 In anticipation of next week's Junior Indaba virtual conference, AmaranthCX director Paul Miller has updated statistics on the change in the number of listed mining companies on the JSE over time. (Also watch attached Creamer Media video.) It is not a pretty picture. (See attached chart.) 

Concern over lack of JSE listings ahead of Junior Indaba
AmaranthCX director Paul Miller interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Govt-Minerals Council team established to promote exploration – Mgojo  

By: Martin Creamer     26th May 2021 The Department of Mineral Resources (DMRE) and Minerals Council South Africa have established a task team to promote exploration, outgoing Minerals Council president Mxolisi Mgojo said on Wednesday. The exploration task team, Mgojo said during his address to the council’s 131st annual general... 

Govt-Minerals Council team established to promote exploration – Mgojo
Minerals Council South Africa AGM covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Nolitha Fakude first woman mining industry president in 131 years 

By: Martin Creamer     26th May 2021 The board members of Minerals Council South Africa on Wednesday elected the first female president in 131 years. New president Nolitha Fakude, a former Minerals Council VP who is the chairperson of Anglo American South Africa, said she would be focusing on ensuring that mining contributes... 

Nolitha Fakude first woman mining industry president in 131 years
Top right, clockwise are Nolitha Fakude, Paul Dunne, Peter Steenkamp and Themba Mkhwanazi.

Diamond explorer Bill McKechnie feels South Africa has battery mineral exploration potential  

By: Martin Creamer     25th May 2021 The renowned exploration geologist linked to the colossal and still-thriving diamond discovery against all odds at the Venetia diamond mine in Limpopo, believes there is no reason why new battery and other specialist minerals cannot be discovered in South Africa, using the techniques that he... 

Diamond explorer Bill McKechnie feels South Africa has battery mineral exploration potential
Exploration geologist Bill McKechnie interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Lithium price maintains momentum as supply is short – Fitch Solutions

By: Marleny Arnoldi     24th May 2021 Research agency Fitch Solutions has published a new lithium price forecast for this year. The agency expects both lithium carbonate and hydroxide prices to trend higher this year and next, owing to accelerating demand for lithium-ion (Li-ion) batteries and a tight upstream supply.  

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