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Middle East News

Air Products and thyssenkrupp sign green hydrogen agreement

By: Schalk Burger     Updated 4 hours ago NYSE-listed industrial gases multinational Air Products and industrial technology multinational thyssenkrupp on July 5 announced that they had signed an exclusive strategic cooperation agreement to develop world-scale electrolysis plants to generate green hydrogen. The two companies will... 

Copper poised to maintain upward price trajectory, says ERG CEO

By: Simone Liedtke     Updated 5 hours ago Diversified miner Eurasian Resources Group (ERG) says the unprecedented levels of stimulus across the world are set to sustain the recovery in copper demand in the longer term, with the supply impact of the Covid-19 pandemic expected to extend beyond this year. Growth drivers include the digital... 

Epiroc aims to halve carbon dioxide emissions in operations as part of 2030 goals

By: Schalk Burger     3rd July 2020 Mining and infrastructure equipment multinational Epiroc this week released its 2030 sustainability goals, which include halving carbon dioxide emissions from operations, transport and major suppliers, as well as from customers’ use of Epiroc equipment. "These are challenging targets, but we will... 

Reliable connectivity essential for effective IoT

By: Schalk Burger     3rd July 2020 A global study conducted by satellite communications multinational Inmarsat found that only 15% of mining organisations consistently have access to reliable connectivity for their Internet of Things- (IoT-) enabled projects. Inmarsat’s research programme into IoT trends 'The Rise of IoT in... 

Moon metals discovery aids development of lunar formation theories

By: Rebecca Campbell     3rd July 2020 Scientists using data from the US National Aeronautics and Space Administration’s (Nasa’s) Lunar Reconnaissance Orbiter (LRO) spacecraft have discovered evidence that the Moon might, underneath its surface, be richer in metals (such as iron and titanium) than had previously been believed. Nasa is... 

Moon metals discovery aids development of lunar formation theories

Reopening of economies boosting metals prices 

By: Marleny Arnoldi     3rd July 2020 Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... 

Reopening of economies boosting metals prices

Covid kills 13 mineworkers, no foreigners back at work  

By: Martin Creamer     2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... 

Covid kills 13 mineworkers, no foreigners back at work
Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mining will need long-term strategies to survive new normal 

By: Simone Liedtke     2nd July 2020 For the mining industry to be successful post-Covid-19, the industry will require long-term strategies to deal with its challenges, which includes the pandemic. In a webinar hosted by the London Bullion Market Association (LBMA) on July 2, investment management firm Orion Resource Partners... 

Mining will need long-term strategies to survive new normal

Hydrogen-powered aviation preparing for takeoff – study 

By: Martin Creamer     2nd July 2020 Hydrogen as an energy source will play a key role in transforming aviation into a zero-carbon/climate-neutral system over the next few decades, an independent study states in estimating that the first short-range hydrogen-powered demonstrator could be developed by 2028 if sufficient investments... 

Hydrogen-powered aviation preparing for takeoff – study
Strong steps being taken to clean up the skies by using hydrogen to power aircraft.

Commodity freighters are shrugging off Covid-19. For now

By: Bloomberg     1st July 2020 The cost of moving commodities like coal and iron-ore across the world’s oceans is surging as China lifts cargo purchases. Whether the rally will withstand the economic aftershocks of the coronavirus is a thornier question. Rates for giant capesize ships climbed to almost $31 000 a day on... 

Bullion platinum investment at an all-time high, says WPIC

By: Marleny Arnoldi     1st July 2020 The World Platinum Investment Council (WPIC) reports that sales of platinum bullion products – retail bars and coins – surged to record highs in the first quarter of the year, with purchases totalling 312 000 oz. Annualised, this represents a rate that is five times higher than that experienced... 

After taking out $1 800, gold investors focus on Fed’s next step

By: Bloomberg     1st July 2020 Fresh from cracking $1 800/pz, the global gold market wants to know what the Federal Reserve may do next to rescue the US economy, with minutes due later on Wednesday that may shed light on the central bank’s willingness to embrace yield curve control. Futures held near the highest in more than... 

After taking out $1 800, gold investors focus on Fed’s next step

Platinum group metals in pole position to benefit from global decarbonisation thrust  

By: Martin Creamer     1st July 2020 Platinum group metals are in pole position to benefit from the fast-growing global decarbonisation momentum, Mining Weekly can today report. A multiplicity of global announcements are emerging daily that inextricably link platinum-catalysed hydrogen fuel cells as well as platinum-catalysed... 

Platinum group metals in pole position to benefit from global decarbonisation thrust
AP Ventures founding partner Kevin Eggers interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Gold climbs above $1 800 for the first time since 2011

By: Bloomberg     30th June 2020 Gold futures rose above $1 800/oz for the first time in eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven. The metal is heading for its best quarter since early 2016, benefiting from economic stimulus from the Federal Reserve and other... 

Gold climbs above $1 800 for the first time since 2011

Egypt says gold deposit discovered in southeast

By: Reuters     30th June 2020 Egypt's Ministry of Petroleum and Mineral Resources said on Tuesday a gold deposit with estimated resources of one-million ounces had been discovered in the southeast of the country. The deposit lies in the concession area of the military-controlled Shalateen Mining Company in the Eastern... 

Environmental groups propose tailings dam safety standards

By: Reuters     30th June 2020 Mining companies should be required to buy private insurance for tailings dams and their board of directors should be held legally responsible for any disasters, a coalition of 140 environmental groups said in a report published on Tuesday. The recommendations, which differ from standards to be... 

Copper heads for best quarter since 2010 as supply worries mount

By: Bloomberg     29th June 2020 Copper is poised for its best quarter since 2010, helped by optimism over a stronger-than-expected demand rebound in top consumer China and mounting supply concerns in South America. The metal used in everything from automobiles to electronics has surged 21% this quarter, and climbed above $6... 

Copper heads for best quarter since 2010 as supply worries mount

Ariana delays final results

By: Simone Liedtke     29th June 2020 Aim-listed explorer and developer Ariana Resources has been granted a three-month extension for the reporting and filing of its financial results, for the period ended December 31, 2019. The company has to file its results by no later than September 30. 

Moody’s says hope for base metals demand recovery lies largely in China

By: Marleny Arnoldi     26th June 2020 Ratings agency Moody’s Investors Service says the Covid-19 pandemic has caused significant deterioration in economic indicators and global growth forecasts, while hurting base metals demand. The agency says purchasing managers’ indexes (PMIs) in May remained in a severe contraction, with the US... 

Moody’s says hope for base metals demand recovery lies largely in China

IGF releases fourth ‘Guidance for Governments’ report

By: Simone Liedtke     26th June 2020 The Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) has released its newest Guidance for Governments report, titled 'Improving Legal Frameworks for Environmental- and Social-Impact Assessment and Management. IGF outreach manager and law adviser Clémence Naré... 

Shrinking aerospace demand to keep pressure on cobalt prices

By: Reuters     26th June 2020 Cobalt prices are at ten-month lows due to sagging demand from the electric vehicle and aerospace sectors amid the Covid-19 pandemic and look likely to slide further as airlines defer maintenance. Airlines such as Australia's Qantas, Qatar Airways and Singapore Airlines are looking to defer... 

SA Inc must act now to take ownership of battery metals value chain – Bushveld 

By: Martin Creamer     26th June 2020 Bold action is needed by South Africa Inc to take ownership of the significant potential share of the global battery metals market open to it, says Bushveld Minerals CEO Fortune Mojapelo. Speaking to Mining Weekly following this week’s presentation by the company of solid 2019 financial results... 

SA Inc must act now to take ownership of battery metals value chain – Bushveld
Wind and sun are producing clean electricity that vanadium flow batteries can store.

Anglo American calls for cooperative response in trying times 

By: Schalk Burger     25th June 2020 Diversified miner Anglo American CE Mark Cutifani has called for a society-wide response to the global Covid-19 crisis and says the miner is committed to global tax and the Extractive Industries Transparency Initiative (EITI). In its Tax and Economic Contribution report for the year ended... 

Anglo American calls for cooperative response in trying times
Anglo American CEO Mark Cutifani

China became second-largest platinum consumer in just three years

By: Marleny Arnoldi     25th June 2020 The World Platinum Investment Council (WPIC) says that, although platinum as an investment product in China is still a relative newcomer, it remains one with enormous potential. WPIC regional head for Asia Pacific Weibin Deng says China is the second-largest market for platinum consumption in... 

Six mineworkers die from Covid-19 – Minerals Council  

By: Martin Creamer     25th June 2020 Six mineworkers have succumbed to coronavirus since the start of the pandemic, Minerals Council South Africa said on Thursday. Back at work so far and screened daily are 272 770 mineworkers, on which 16 994 tests have been conducted, yielding 1 796 positive Covid cases and 666 recoveries,... 

Six mineworkers die from Covid-19 – Minerals Council
Minerals Council South Africa’s Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Gold poised to challenge $1 800 as virus resurgence fans demand

By: Bloomberg     24th June 2020 Gold is on the cusp of challenging the hard-to-crack $1 800/oz mark, potentially opening the way for a move toward its record price, as a resurgence in coronavirus cases risks impeding the recovery of the global economy and fans demand for haven assets. Futures have rallied to within 1% of the... 

Deep sea mining could destroy undiscovered species, says Ocean Panel 

By: Reuters     24th June 2020 Mining on the sea floor should not begin before a full assessment of likely environmental impacts can be made, a report commissioned by the High Level Panel for a Sustainable Ocean Economy (Ocean Panel) said on Wednesday. Environmentalists including Britain's David Attenborough have called for a... 

Deep sea mining could destroy undiscovered species, says Ocean Panel

Maaden phosphate unit signs $4.1bn finance deal

By: Bloomberg     22nd June 2020 Saudi Arabian Mining said its phosphate unit signed an accord with a group of lenders to refinance and reschedule debt worth $4.1-billion. Maaden Waad Al Shamal Phosphate will refinance $2.3-billion owed to a syndicate of commercial banks and financial institutions, according to a statement. It... 

Maaden phosphate unit signs $4.1bn finance deal

The masters of the diamond world are losing control  

By: Bloomberg     22nd June 2020 For decades, shopping for uncut diamonds was a tightly scripted affair: First, persuade De Beers to add you to its list of handpicked customers. Then, 10 times a year, attend a week-long sale to buy exactly the amount De Beers offers you at whatever price it chooses. The system, which works more... 

The masters of the diamond world are losing control

Gold drives toward highest since 2012 on virus resurgence concern

By: Bloomberg     22nd June 2020 Gold pushed toward the highest level since 2012, lifted by concerns over a second wave of coronavirus infections and growing uncertainty in Hong Kong after China released details of a proposed national security law. Bullion was supported as cases across the US Sun Belt surged, while Germany’s... 

Gold drives toward highest since 2012 on virus resurgence concern

Covid-19 is an important catalyst for hydrogen economy’s take-off – AP Ventures  

By: Martin Creamer     22nd June 2020 Despite being a global pandemic with hugely negative health consequences, Covid-19  is an important catalyst for the take-off of the hydrogen economy, in which platinum plays a fundamental role. “There’s an opportunity now to capitalise on a new wave on interest in hydrogen,” says AP Ventures LLP... 

Covid-19 is an important catalyst for hydrogen economy’s take-off – AP Ventures
AP Ventures founding partner Kevin Eggers speaks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Glencore says will cooperate with investigation by Swiss

By: Martin Creamer     20th June 2020 Diversified mining company Glencore stated at the weekend that it would cooperate with an investigation opened into it by the office of the attorney general of Switzerland. Glencore stated in a release to Mining Weekly that it had been informed by the office of the attorney general that it had... 

Glencore says will cooperate with investigation by Swiss
Photo by Bloomberg
Glencore head office.

Global energy demand growth was slowing before Covid-19, says BP

By: Bloomberg     17th June 2020 Growth in energy demand was declining even before the coronavirus pandemic spread globally, keeping consumers under lockdown and sending prices to record lows, BP said on Wednesday. The oil major’s annual Statistical Review of World Energy showed that growth in primary energy consumption slowed... 

Global energy demand growth was slowing before Covid-19, says BP

Gold industry requires $37bn investment to maintain 2019 output

By: Creamer Media Reporter      17th June 2020 The gold industry will need to bring on line eight-million ounces in the next five years to maintain 2019 levels of production, consultancy firm Wood Mackenzie (Woodmac) said on Wednesday, warning that the gold supply summit was in sight. This equated to about 44 project and based on the average... 

Gold industry requires $37bn investment to maintain 2019 output

Platinum retailers working towards recovery amid Covid-19 

By: Simone Liedtke     12th June 2020 Manufacturers and retailers of platinum jewellery have begun working towards ensuring the recovery of the sector, as Covid-19 continues to heavily impact on the global economy, the Platinum Guild International’s (PGI’s) latest 'Platinum Jewellery Business Review (PJBR)' states. Published on June... 

Platinum retailers working towards recovery amid Covid-19

Roskill says mining equities have outperformed other sectors, despite economic dislocation

By: Simone Liedtke     11th June 2020 Despite the Covid-19-related economic dislocation that is under way, consultancy Roskill says prices in several metals markets have gone up year-to-date, and that mining equities have outperformed that of many other sectors. Despite this, the mining sector is far from immune to the Covid-19... 

ETFs outshine futures as investors look for gold exposure

By: Reuters     11th June 2020 A rise in the cost of holding US gold futures since the start of the coronavirus outbreak is pushing investors wanting exposure to the metal towards gold-backed exchange traded funds (ETFs), industry data shows. Gold is increasingly in demand from buyers who believe it is likely to hold its value... 

ICMM members record 287 fatalities in 2019

By: Martin Creamer     11th June 2020 The International Council on Mining and Metals (ICMM) on Thursday released the 2019 safety data of its company members, who reported 287 occupational fatalities, a marked increase from the 50 fatalities recorded in 2018 and 51 fatalities recorded in 2017. ICMM said in a media release to Mining... 

ICMM members record 287 fatalities in 2019
ICMM CEO Tom Butler
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