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Middle East News

Gold heading towards ‘refuge of choice’ status, says incoming AngloGold CEO  

By: Martin Creamer     6th July 2021 Gold is poised to be a "refuge of choice" in the years ahead owing to the extent to which money is being printed and world debt is rising, AngloGold Ashanti CEO-designate Alberto Calderon said on Tuesday. Speaking to Mining Weekly in a Microsoft Teams interview ahead of taking office on September... 

Alberto Calderon is new AngloGold CEO

By: Martin Creamer     6th July 2021 The board of AngloGold Ashanti on Tuesday announced the appointment of Alberto Calderon as the new CEO of the gold-mining company, effective September 1. Mining Weekly can report that Calderon has more than two decades of executive leadership experience in the global mining sector. 

Alberto Calderon
Alberto Calderon

Yamkela Makupula clinches exciting Rockwell-linked alluvial diamond deal  

By: Martin Creamer     5th July 2021 Alluvial diamond mining investor Yamkela Makupula has clinched an alluvial diamond mining transaction which makes her a 30% shareholder in three diamond assets that have a link with the former Rockwell Diamonds. Makupula, who leads the Africa growth strategy of international law firm Diaz, Reus,... 

Picture of Yamkela Makupula, investor in alluvial diamonds.
Yamkela Makupula interviewed by Mining Weekly’s Martin Creamer on alluvial diamond transaction. Video: Darlene Creamer.

Weekly Coal Index Report

5th July 2021 As the Australian and South African markets push coal prices up, amid a shortage of South African material thanks to the unavailability of rail, Glencore has doubled down on coal by acquiring its joint venture partners’ shares in the Cerrejón thermal coal mine in Colombia for $230-million cash in... 

Weekly Coal Index Report

Gold regains shine after central bank buying drops to decade low

By: Bloomberg     5th July 2021 Central banks may be regaining their appetite for buying gold after staying on the sidelines for the past year. Central banks from Serbia to Thailand have been adding to gold holdings and Ghana recently announced plans for purchases, as the specter of accelerating inflation looms and a recovery... 

Gold regains shine after central bank buying drops to decade low

Mining vital to economy, can help guide country's path – President 

By: Martin Creamer     5th July 2021 Mining is vital to the South African economy and the opportunities that exist in mining can help guide the country’s path to a more inclusive and equitable economy, President Cyril Ramaphosa stated on Monday. Writing in his From the Desk of the President column, Ramaphosa placed mineral and... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Global copper smelting eases in June; nickel pig iron jumps

By: Reuters     2nd July 2021 Global copper smelting activity slipped in June after a rebound a month earlier as Chinese plants closed for maintenance, data from satellite surveillance of copper plants showed. Satellite service SAVANT and broker Marex said in a joint statement on Friday that they were now monitoring nickel... 

Unrelenting coal demand posts challenge to world's climate goals

By: Bloomberg     2nd July 2021 Coal prices across Asia are surging to records, underscoring a challenge for governments seeking a faster energy transition: the dirtiest of fuels they’re racing to phase out is enjoying booming demand. Power plants are rushing to secure adequate electricity supplies as a hot summer adds to... 

Unrelenting coal demand posts challenge to world's climate goals

Demand for platinum and palladium in auto sector set to rise as regulations tighten 

By: Simone Liedtke     2nd July 2021 Platinum demand from the automotive sector is expected to be 25% up on 2020, reaching almost three-million ounces this year, World Platinum Investment Council (WPIC) research director Trevor Raymond says, partly attributing the projected increase to the Euro 6d and China 6a emissions regulations... 

Demand for platinum and palladium in auto sector set to rise as regulations tighten

Itochu partners with Shell to lower its mining sites’ carbon footprint

By: Donna Slater     1st July 2021 Petrochemicals company Shell International and Tokyo-headquartered investment firm Itochu Corporation have agreed to collaborate to accelerate the digitalisation and decarbonisation of Itochu’s mining sites, as well as increase the operational efficiency thereof. Shell will offer its sectoral... 

Shortages flagged for EV materials lithium and cobalt

By: Reuters     1st July 2021 As the world moves to meet stringent targets for cutting carbon emissions - partly by phasing out internal-combustion-engine cars - demand for lithium, cobalt and nickel vital for electric vehicle batteries will soar, raising the prospect of shortages. High lithium prices have failed to spur... 

Glencore paid governments $5.8bn, working hard to develop local skills

By: Martin Creamer     30th June 2021 As one of the world’s largest natural resource companies, with operations across five continents, Glencore is committed to delivering long-lasting socioeconomic benefits, CFO Steven Kalmin on Wednesday. Speaking on video with the release of Glencore's 2020 Payment to Governments Report, Kalmin... 

Glencore CFO Steven Kalmin
Photo by Creamer Media
Glencore CFO Steven Kalmin

Phalaborwa dumps contain rare earths worth $4.7bn, says London junior 

By: Martin Creamer     30th June 2021 “We have high value rare earth elements totalling $123/t in our gypsum stacks and multiply that by 38-million tonnes and that can give you an idea of the value of these stacks,” Rainbow Rare Earths CEO George Bennett has told Flagstaff TV. The gypsum dumps – built up from half a century of hard... 

Rainbow Rare Earths CEO George Bennett
Rainbow Rare Earths CEO George Bennett

Gold heads for worst month since 2016 on Fed’s hawkish shift

By: Reuters     29th June 2021 Gold headed for the biggest monthly drop in more than four years after the Federal Reserve sped up their expected pace of policy tightening, sending prices tumbling below $1 800/oz. The rise in US stocks to a fresh record and a resurgent dollar have also weighed on the precious metal. Investors... 

Waste cooking oil powers ship from Singapore to South Africa for Anglo  

By: Martin Creamer     29th June 2021 The use of sustainable biofuel to power a chartered capesize ship during a voyage from Singapore to South Africa has been successfully trialled as part of a decarbonisation initiative, Anglo American said on Tuesday. The biodiesel blend was produced by converting waste cooking oil from... 

The trial was conducted onboard the Frontier Jacaranda.
The trial was conducted onboard the Frontier Jacaranda.

Analysts describe Glencore’s takeover of Cerrejón as ‘sensible’

By: Marleny Arnoldi     28th June 2021 Deutsche Bank Research says the deal that Glencore struck with fellow diversified majors Anglo American and BHP to buy out their respective 33% interests in the Cerrejón joint venture (JV) does not come as a surprise and presents a good value proposition for the diversified miner. Following the... 

Analysts describe Glencore’s takeover of Cerrejón as ‘sensible’

Hydrogen represents huge moment of opportunity for South Africa – AP Ventures  

By: Martin Creamer     28th June 2021 Hydrogen represents a huge moment of opportunity for South Africa, AP Ventures managing partner Andrew Hinkly said on Monday. AP Ventures began investing along the generally platinum group metals- (PGMs-) linked hydrogen value chain as long ago as 2013 and the $320-million committed in AP... 

AP Ventures managing partner Andrew Hinkly
AP Ventures managing partner Andrew Hinkly interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Sunday Times gives Glasenberg splash send-off  

By: Martin Creamer     28th June 2021 The latest edition of the Sunday Times gives outgoing Glencore CEO Ivan Glasenberg a splash ST Insight send-off story ahead of his retirement on Wednesday. Topped by a large all-column picture of a broadly smiling Glasenberg, the broadsheet two-page story carried large twin bold headlines, the... 

Ivan Glasenberg
Ivan Glasenberg

Nonconforming diamond producers will be left behind, warns WDC 

By: Marleny Arnoldi     28th June 2021 World Diamond Council (WDC) president Edward Asscher foresees that the diamond industry will soon have two distinct value chains, one encompassing responsibly sourced diamonds and one that does not. During the closing session of the 2021 Intersessional Meeting of the Kimberley Process (KP), he... 

Cash-pumping but lossmaking Wescoal to broaden from coal to energy  

By: Martin Creamer     25th June 2021 Johannesburg Stock Exchange-listed coal-mining company Wescoal, which narrowed its losses in the 12 months to the end of March, is transitioning from being a coal miner to a broader energy company. “Towards the end of the new financial year, we will come back to the market in terms of our overall... 

Wescoal CFO Jubilant Speckman with Wescoal CEO Mining Thivha Tshitavane
Wescoal’s Jubilant Speckman and Thivha Tshitavane interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

London copper rises as US infrastructure deal fans demand hopes

By: Reuters     25th June 2021 Copper prices in London rose on Friday, on track for a weekly gain, as a US infrastructure deal boosted hopes for stronger demand of the red metal. Three-month copper on the London Metal Exchange advanced 0.5% to $9 461.50/T by 031:8 GMT, while the most-traded August copper contract on the... 

US President Joe Biden speaks in the East Room of the White House in Washington, DC on June 24.
US President Joe Biden speaks in the East Room of the White House in Washington, DC on June 24.

WPIC says fuel cells for trucks are picking up speed

By: Marleny Arnoldi     24th June 2021 The World Platinum Investment Council (WPIC) has reiterated its advocacy for hydrogen fuel cell electric vehicles (FCEVs) as a solution towards sustainable mobility. In a release, the council explains that the transport sector is huge and that it is critical to the European Union’s (EU’s),... 

South Africa helping hydrogen down cost curve, giving it greater zip 

By: Martin Creamer     24th June 2021 South Africa is part of a crucial international project aimed at taking key hydrogen technology down the cost curve and lowering the energy it requires to facilitate catalytic reactions. The focus of the SherLOHCk project, which is funded by the European Union under Horizon 2020 framework, is... 

Renewable hydrogen piloting site at HySA North-West University, including LOHC hydrogenation system.
Renewable hydrogen piloting site at HySA North-West University, including LOHC hydrogenation system.

Hydrogen-focused AP Ventures fund balloons to fourfold-bigger close 

By: Martin Creamer     24th June 2021 AP Ventures Fund II, with its strategy of investing along the hydrogen value chain, has closed at four times the size of Fund I. The far-seeing AP Ventures began investing along the generally platinum group metals- (PGMs-) linked hydrogen value chain as long ago as 2013. 

AP Ventures managing partner Andrew Hinkly
AP Ventures managing partner Andrew Hinkly

Gold miners must up their game to meet 2030 emissions target

24th June 2021 While the global gold industry is broadly on track to align with a 2 °C climate target by the end of the current decade, more action is needed if the industry is to meet, and surpass, the 1.5 °C mark. This is according to a new report from Wood Mackenzie, which plots the forecast progress of... 

Gold miners must up their game to meet 2030 emissions target

A mining startup's rush for underwater metals comes with deep risks

By: Bloomberg     24th June 2021 A seabed mining startup, DeepGreen Metals, has successfully sold itself to investors as a game-changing source of minerals to make electric car batteries that can be obtained in abundance—and at great profit—while minimising the environmental destruction of mining on land. But there’s strong... 

A mining startup's rush for underwater metals comes with deep risks

Copper supply needs to double by 2050, Glencore CEO says

By: Reuters     22nd June 2021 Glencore CEO Ivan Glasenberg said on Tuesday that a supply gap was growing in the metals necessary for the world to replace fossil fuels with renewable energy, but he stopped short of predicting a so-called super cycle. Glasenberg said at the Qatar Economic Forum that copper supplies needed to... 

Ivan Glasenberg
Ivan Glasenberg

Energy transition metals poised for uneven, explosive run higher

By: Reuters     22nd June 2021 Buoyed by powerful demand expectations as the world moves away from reliance on fossil fuels, prices of many industrial metals rocketed, but future price rises are likely to be limited to a select few energy transition ingredients. The narrative of a synchronised upswing, characterised by some... 

Energy transition metals poised for uneven, explosive run higher

President’s 100 MW renewable energy reform ‘very welcome opportunity’ – Harmony Gold  

By: Martin Creamer     22nd June 2021 Harmony Gold sustainable development executive Melanie Naidoo-Vermaak on Tuesday described the decision of President Cyril Ramaphosa to lift the licence-exemption cap on own or embedded renewable energy plants from 1 MW to 100 MW as “a very welcome opportunity" for the South African mining... 

From top left clockwise, Harmony’s Jared Coetzer, Peter Steenkamp, Boipelo Lekubo, Anton Buthelezi, Mashego Mashego, Beyers Nel, Marian van der Walt and Melanie Naidoo-Vermaak, during virtual ESG Day event.
Harmony Gold ‘s ESG Day covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Carbon capture helpful decarbonisation tool – investment professionals  

By: Martin Creamer     21st June 2021 Carbon capture and storage is one of the tools in the toolkit that needs to be included in the decarbonisation mix if the world is to reduce emissions  effectively over a reasonable time horizon. That is the view of Carbon Infrastructure Partners president and managing partner Craig Golinowski,... 

Carbon Infrastructure Partners president Craig Golinowski
Carbon Infrastructure Partners president Craig Golinowski interviewed by Mining Weekly’s Martin Creamer: Video: Darlene Creamer

Diamond sector must meet consumers' demand for responsibly sourced diamonds, says WDC president

By: Marleny Arnoldi     21st June 2021 With the modern-day consumer demanding greater accountability and sustainability, the Kimberley Process (KP) must not be left behind, says World Diamond Council (WDC) president Edward Asscher. He spoke during the opening of the 2021 Intersessional Meeting of the KP, highlighting how consumers... 

Weekly Coal Index Report

21st June 2021 The price surge has subsided for now, although Asia Pacific physical cargoes continue to experience strong demand. Australian coal is likely to remain the price leader as deliveries to the port of Gladstone are being restricted after a train derailment last week. For its part, South African coal... 

Weekly Coal Index Report

One of the world’s hottest commodities is now the most volatile 

By: Bloomberg     18th June 2021 Iron-ore, one of the hottest commodities in the early days of the raw materials rally, has now become the most volatile as bulls and bears joust over the trajectory of prices. In a series of wild swings, the ore that fuels China’s vast steel industry surged to a record, collapsed into a bear... 

One of the world’s hottest commodities is now the most volatile

Gold heads for its biggest weekly loss in more than a year

By: Bloomberg     18th June 2021 Gold headed for the biggest weekly loss in 15 months as the Federal Reserve’s hawkish tilt sent the dollar surging. Officials signaled monetary policy tightening could start earlier than expected, with Chair Jerome Powell saying that the central bank would begin a discussion about scaling back... 

RMF encourages extractives supply chain disclosure of transactions with States 

By: Donna Slater     18th June 2021 Research done by independent research organisation the Responsible Mining Foundation (RMF) has found that very few of the trading companies making transactions in extractive value chains, including for metals, minerals and oil and gas, publicly disclose data on these payments to governments,... 

Sasol able to produce green hydrogen within 24 months – CEO   

By: Martin Creamer     17th June 2021 Synthetic fuels and chemicals company Sasol is in a position to be able to produce green hydrogen within the next 24 months, Sasol CEO Fleetwood Grobler said on Thursday. Grobler was responding to Absa group industrials research head Christina Steyn, who moderated an SA Tomorrow panel discussion... 

From top left, clockwise, Christina Steyn, Natascha Viljoen, Dmitri Bessarabov and Fleetwood Grobler
JSE hydrogen panel discussion covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

CEO vacuum at AngloGold turns it into world’s worst mining stock 

By: Bloomberg     17th June 2021 AngloGold Ashanti has had a bad year, with the company’s lack of a permanent chief executive officer and a suspension of its Ghana mine operations weighing on the stock. But with shares now cheap compared with peers, analysts see potential for upside. Shares of the world’s third-largest gold... 

Rio Tinto confirms Peter Cunningham's appointment as CFO

By: Schalk Burger     17th June 2021 Diversified miner Rio Tinto has appointed Peter Cunningham CFO with immediate effect. He has been interim CFO since January 1, and will also join the Rio Tinto board as an executive director. 

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