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Middle East News
Boom in lithium production expected over the next decade
By: Schalk Burger 9th September 2022 Global lithium production is expected to grow from 503 500 t lithium carbonate equivalent this year to 2.1-million tonnes in 2031 – an average yearly growth rate of 15.9%, said market research and advisory firm Fitch Solutions Country Risk & Industry Research. There are a significant number of... →
Platinum supply outlook a barrier to global decarbonisation – Davis 
By: Martin Creamer 9th September 2022 The future quantum of global demand for platinum group metals (PGMs) significantly outweighs global supply from 2023 onwards, the latest review carried out by independent precious metals consultant Dr David Davis indicates. Compiled for Auctus Metal Portfolios of Singapore, the review illustrates... →
Independent precious metals consultant Dr David Davis.
Platinum group metals demand lift from hydrogen momentum creating excitement
By: Martin Creamer 8th September 2022 As a platinum group metals (PGMs) producer, Impala Platinum is excited about the opportunity of hydrogen as a potential new demand source, says Impala Platinum executive: new commodities Seten Naidoo. “The exciting component for us is actually the green hydrogen,” says Naidoo, who was speaking as... →
The copper market is flashing signs of tight supply
By: Bloomberg 8th September 2022 Copper spreads are spiking in a signal that physical supplies remain tight despite global economic headwinds. The premium for cash copper over three-month futures on the London Metal Exchange rose by as much as 91% on Thursday to a high of $145/t, an indication the market is paying more for... →
South Africa drafting green hydrogen position statement for COP27 – IDC
By: Martin Creamer 7th September 2022 South Africa is drafting a green hydrogen position statement for the upcoming 27th United Nations Climate Change Conference (COP 27), which is scheduled to take place in Egypt from November 7-18. Industrial Development Corporation (IDC) divisional executive for mining, metals, energy, and... →
Gold prices buoyed by bargain hunters; robust dollar limits upside
By: Reuters 7th September 2022 Gold prices inched higher on Wednesday as a slight pullback in US bond yields and bargain-hunting underpinned the market, although a stronger dollar and aggressive interest rate hike fears limited gains. Spot gold edged up 0.1% to $1 702.59 per ounce by 12:07 GMT, having dropped to its lowest... →
Major platinum mining company planning 520 MW renewable generation
By: Martin Creamer 6th September 2022 Platinum group metals mining and marketing company Implats is planning to introduce 520 MW of renewable power as part of an ambition to reduce its carbon footprint by 30% by 2030 and become carbon neutral in 2050. The current carbon generation of the Johannesburg Stock Exchange-listed company is... →
More than half of FTSE 100 companies now have ESG committees
By: Bloomberg 5th September 2022 More than half of FTSE 100 companies now have a board-level committee focusing on ESG issues, a sign of their desire to become more sustainable. A dedicated ESG committee can help a company speed up the push toward net-zero goals, lower emissions faster and boost investments in carbon offsets.... →
Platinum remains significantly undervalued – WPIC 
By: Martin Creamer 5th September 2022 Platinum remains significantly undervalued. That is the key takeaway from the 30-page Platinum Quarterly published by the World Platinum Investment Council (WPIC). “Why I say that platinum remains undervalued is that we've got a situation where the opportunities for platinum look good. →
China gives platinum major boost with launch of PGMs centre in Shanghai
By: Martin Creamer 2nd September 2022 In what is a major boost for platinum group metals (PGMs), a new trade and technology centre dedicated to the growth of the PGMs market is being established in China, already the single largest consumer of PGMs, accounting for more than 25% of total demand. Anglo American, Honeywell and the... →
Capital appoints new CEO
By: Darren Parker 2nd September 2022 London-listed mining services company Capital has appointed Peter Stokes as its new CEO, with effect from October 3. Stokes will be based in Perth where the company has an established office and presence. He will also join the board as an executive director. →
ARM ups dividend, highlights climate commitment, shifts to green energy
By: Martin Creamer 1st September 2022 Diversified mining company African Rainbow Minerals (ARM) on Thursday paid higher dividends, reiterated its full commitment to climate change mitigation, and outlined the start of its intended shift towards the implementation of renewable energy. In affirming the Johannesburg Stock... →
Implats commits R50bn capex to mines, beneficiation, energy, decarbonisation
By: Martin Creamer 1st September 2022 Platinum group metals (PGM) company Implats, which generated free cash flow of R28.8-billion in the 12 months to June 30, said on Thursday that it had allocated R4.3-billion over the next five years to energy security and decarbonisation. Gross profit totalled R41.3-billion at a gross margin of... →
DRDGold's livelihoods initiative attracts 8 000-plus direct participants
By: Martin Creamer 31st August 2022 The livelihoods initiative introduced by surface gold mining company DRDGold has to date attracted more than 8 000 direct participants at a time when boosting jobs and livelihoods in South Africa has never been more important The broad-based livelihoods (BBL) programme of the Johannesburg- and... →
Gold faces longest monthly losing streak since 2018 on rate hikes
By: Reuters 31st August 2022 Gold prices fell on Wednesday and were on track to post their longest streak of monthly losses since 2018 as traders anticipated more interest rate increases by central banks to combat red-hot inflation. Spot gold fell 0.8% to $1 710.70/oz by 09:56 GMT. Bullion has lost about 3% so far in... →
Feasibility studies this year for Mponeng gold mine deepening – Harmony
By: Martin Creamer 30th August 2022 Time will be spent this year on doing feasibility studies relating to the deepening of the Mponeng gold mine on the West Rand, Harmony Gold CEO Peter Steenkamp said on Tuesday. In response to Afrifocus Securities analyst Des Moines on how important Mponeng woud be in the years to come, Steenkamp... →
AngloGold appoints Rio Tinto exec as its new CFO
By: Creamer Media Reporter 30th August 2022 Gold miner AngloGold Ashanti has appointed Gillian Doran CFO, with effect from January 1, 2023. Doran (45) joins AngloGold from Rio Tinto Group, where she is currently CFO Aluminium, based in Montreal, Canada. →
Harmony working hard to boost productivity
By: Martin Creamer 30th August 2022 Gold mining company Harmony Gold on Tuesday announced a programme to improve the human dimension of safety and productivity by combining cultural transformation with technological advancements. The target of the Safety 300 or S300 programme is to safely lift the output per mining crew from the... →
Harmony declares final dividend on lower earnings
By: Martin Creamer 30th August 2022 Gold mining company Harmony Gold on Tuesday declared a final dividend in line with dividend policy despite lower earnings. The JSE-listed company, headed by CEO Peter Steenkamp, declared a final dividend of 22 c a share on operating free cash generated throughout the financial year to June 30. →
Iron-ore futures drop below $100 on China Covid, steel curbs
By: Reuters 30th August 2022 Dalian and Singapore iron ore futures dropped below $100/t on Tuesday, while spot prices slumped to the lowest in a week, pressured by renewed worries over Covid-19 curbs and steel output restrictions in top producer China. The most-traded January iron ore contract on China's Dalian Commodity... →
Shirley Hayes sheds more light on next month’s copper listing on the JSE’s AltX
By: Martin Creamer 29th August 2022 Shirley Hayes, the founder and CEO of SHiP Copper, into which Big Tree Copper will be reversed when Copper 360 lists on the AltX of the Johannesburg Stock Exchange (JSE) next month, on Monday shed more light on the way forward for what will be South Africa’s only pure copper play on the JSE. “It... →
Goldman says 'buy commodities now, worry about recession later'
By: Bloomberg 29th August 2022 Goldman Sachs Group urged investors to pile into commodities as most recession risks coursing through global markets are overblown in the near term, arguing that raw materials stand to rebound amid a profound energy crisis and tight physical fundamentals. “Our economists view the risk of a... →
Northam constructing, commissioning solar plants, securing wind energy
By: Martin Creamer 26th August 2022 The renewable energy plans of the Booysendal platinum group metals (PGMs) mine of Northam Platinum have been detailed quite extensively in the company’s 95-page sustainability report that will be available shortly online, Northam Platinum CEO Paul Dunne said on Friday, when the Johannesburg Stock... →
Booming hydrogen investment in China driving platinum demand growth
By: Marleny Arnoldi 26th August 2022 With China’s plan to have only low-carbon energy sources by 2030 and to achieve carbon neutrality by 2060, its demand for platinum group metals (PGMs) is likely to continue growing. The country also has plans to grow its hydrogen fuel cell electric vehicle (FCEV) fleet, with initiatives aimed at... →
Plug-in fuel cell vehicle
Gold subdued as investors brace for Powell's speech
By: Reuters 26th August 2022 Gold prices dipped on Friday, with investors largely focusing on the Jackson Hole symposium for insights into the US Federal Reserve's monetary policy stance to curb inflation. Spot gold fell 0.3% to $1 752.50 per ounce by 07:47 GMT, but was up 0.3% so far for the week. US gold futures was 0.4%... →
Sibanye-Stillwater strategising energy solution involvement
By: Martin Creamer 25th August 2022 Energy solutions that reverse climate change are on the list of strategic differentiators that Sibanye-Stillwater has under scrutiny, Sibanye-Stillwater CEO Neal Froneman said on Thursday, when the Johannesburg- and New York-listed platinum group metals (PGMs), gold and green metals company... →
Sibanye-Stillwater declares R3.9bn half-year dividend
By: Martin Creamer 25th August 2022 Precious metals and green metals company Sibanye-Stillwater on Thursday declared a cash dividend of R3.9-billion for the six months to June 30. The Johannesburg- and New York-listed company, headed by CEO Neal Froneman, reported a half-year profit R12.3-billion, the third highest six-month period... →
Mining majors ramping up their diversification policies
By: Darren Parker 24th August 2022 Mining majors are ramping up their diversification policies to capitalise on or react to decarbonisation trends by targeting new growth markets, while seeking to divest from coal, oil and gas production, market research firm Fitch Solutions Country Risk and Industry Research says. In a report... →
DRDGold using satellite imagery to monitor tailings
By: Martin Creamer 24th August 2022 Johannesburg- and New York-listed surface gold mining company DRDGold is using satellite imagery to monitor its tailings dumps, in addition to quarterly drone surveillance. An international tailings performance management system implemented ensures the integrity of data for day-to-day management... →
DRDGold's 15th consecutive financial year of dividend paying
By: Martin Creamer 24th August 2022 Surface gold mining company DRDGold on Wednesday announced its fifteenth consecutive financial year of dividend paying. For the year ended June 30, the Johannesburg- and New York-listed company, headed by CEO Niël Pretorius, declared a final dividend of 40c a share, totaling a distribution of 60c... →
DRDGold CEO Niël Pretorius.
Supply concerns support copper despite bleak economic outlook
By: Reuters 23rd August 2022 Copper prices rose on Tuesday, helped by low inventories, signs of improving demand in China and fears that sky-high energy prices could force smelters to cut output. Investors remained cautious, however, with a global economic slowdown threatening to curtail demand. →
Plans progressing for 744 MW energy for alloys business – Merafe
By: Martin Creamer 23rd August 2022 Construction of the Swedish Stirling plant that converts off-gas to electricity will take place at the Lion ferrochrome smelter near Steelport starting in the second half of this year, Merafe Resources CEO Zanele Matlala said on Tuesday, when the ferrochrome company announced a dividend-yielding... →
Merafe CEO Zanele Matlala and Merafe FD Ditabe Chocho.
Most base metals climb on supply concerns, demand uncertainty
By: Reuters 23rd August 2022 Prices of most base metals moved higher on Tuesday, as supply-and-demand worries amid an energy crisis in Europe and China lent some support to the market against the backdrop of reduced stockpiles. The most-traded September zinc contract on the Shanghai Futures Exchange SZNc1 was up 2% at 25... →
Fatality-free Merafe declares cash dividend on 68% earnings surge
By: Martin Creamer 23rd August 2022 Ferrochrome company Merafe Resources on Tuesday reported a profit of R925-million for the six months ended June 30 on higher realised ferrochrome prices and a weaker rand-dollar exchange rate. Ferrochrome prices have since declined and cost pressures from inflation, higher reductant costs, chrome... →
Merafe CEO Zanele Matlala.
Green hydrogen atlas to be officially launched before year-end – Sasscal
By: Martin Creamer 22nd August 2022 With close to 90% of all the datasets for the Southern African green hydrogen atlas having been collected, its official launch will definitely take place before year-end, Sasscal executive director Dr Jane Olwoch assured Engineering News & Mining Weekly in a Zoom interview on Monday. Moreover,... →
Climate disasters risk putting a damper on electric-car making
By: Bloomberg 22nd August 2022 Automakers racing to make more electric vehicles have a problem: climate change is catching up with the industry. On Monday, authorities in China’s Sichuan province — the source of about a fifth of the country’s lithium production — extended electricity cuts to some industrial users as the most... →
Uncertain demand prospects undermine copper prices
By: Reuters 22nd August 2022 Copper prices slipped on Monday as worries about demand dominated sentiment, though sliding inventories provided some support. A manufacturing slowdown in top metals consumer China in recent months because of Covid-19 lockdowns has weakened demand for the metal used widely in the power and... →
China demand doubts darken mood as miners baulk at energy costs
By: Reuters 19th August 2022 The prospect of a global recession and doubts over economic stimulus in China, the world's biggest user of raw materials, add to the challenges of mining companies as they grapple with energy costs, raising the risk of downsizing and layoffs. None of the major diversified miners is under... →
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