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Middle East News

Miners regain mojo as outlook for commodity supercycle heats up

By: Bloomberg     17th February 2021 Two of the world’s top miners boosted their dividends amid growing optimism about a new commodities boom driven by a rebounding global economy, massive stimulus and supply shortages. Glencore shares jumped to the highest in nearly two years as the miner and commodity trader said it would resume... 

Nagle expresses firm belief in Glencore’s coal-depleting climate change strategy 

By: Martin Creamer     16th February 2021 Firm belief in the climate change strategy being embarked upon by diversified mining and marketing company Glencore was expressed on Tuesday by incoming Glencore CEO Gary Nagle, Outgoing Glencore CEO Ivan Glasenberg announced in December that he would be handing over the reins of the global... 

Gary Nagle
Gary Nagle

DRDGold flies sky high on numbers never seen before  

By: Martin Creamer     16th February 2021 Surface gold recovery company DRDGold flew sky high in the six months to the end of December on financial returns never seen before. “We’ve never seen numbers like this. I mean the cash operating profit was R1.4-billion and earnings R950-million. These are numbers over a six-month period. It’s... 

Recovering gold at the Far West Gold Recoveries operation.
DRDGold CEO Niël Pretorius interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Platinum powers to a six-year high on tight global supply

By: Bloomberg     16th February 2021 Platinum rallied again, surging to the highest level in more than six years on signs that an economic recovery from the pandemic is set to boost demand for the metal used in catalytic converters. The precious metal has surged about 22% so far this year, outperforming all its peers, aided by... 

Platinum powers to a six-year high on tight global supply

Glencore ready to support transition to low-carbon economy – Glasenberg 

By: Martin Creamer     16th February 2021 Diversified mining and marketing company Glencore is ready to support the transition to a low-carbon economy, CEO Ivan Glasenberg said on Tuesday when the company reported finishing 2020 with earnings before interest tax depreciation and amortisation (Ebitda) of $11.6-billion, Covid-19... 

Glencore CEO Ivan Glasenberg
Glencore CEO Ivan Glasenberg

DRDGold declares 60%-higher dividend on soaring earnings

By: Martin Creamer     16th February 2021 Surface gold recovery company DRDGold has declared an interim cash dividend on soaring six-month earnings. The operating profits of the Johannesburg- and New York-listed company, headed by CEO Niël Pretorius, rose by 100% to R1.4-billion in the six months to the end of December. 

DRDGold CEO Niël Pretorius
DRDGold CEO Niël Pretorius

BHP coal impairments hit profits

By: Esmarie Iannucci     16th February 2021 Diversified major BHP has reported solid interim results for the half-year ended June, with both revenues and underlying attributable profit up on the previous corresponding period. Revenue for the half-year was up 15% to $25.6-billion, while underlying attributable profit was up 16% on the... 

BHP coal impairments hit profits

Copper at highest since 2012 as global equities extend gains

By: Bloomberg     16th February 2021 Copper climbed to the highest level since 2012 as a risk-on mood across global markets helped to lift equities and put pressure on the dollar. Prices have soared on optimism that the use of coronavirus vaccines will aid a rebound in global growth. Prices climbed 5.3% last week on the London... 

Copper at highest since 2012 as global equities extend gains

London listing on way as mining company strives to become green gold producer  

By: Martin Creamer     15th February 2021 A Kenyan gold asset with expansion, exploration and green status upside is scheduled to reverse list on the London Stock Exchange in March. The Kilimapesa gold mine, with a declared Joint Ore Reserves Committee resource of 670 000 oz, is an operating three-adit asset with fairly extensive... 

Mayflower Capital Investments adviser Gerard Kisbey-Green
Mayflower Capital executive Gerard Kisbey-Green interviewed by Mining Weekly ‘s Martin Creamer on the Kilimapesa gold-mining opportunity. Video: Darlene Creamer.

Gold steadies as investors weigh slowing virus spread, vaccines

By: Bloomberg     15th February 2021 Gold steadied as investors weighed the slowing pace of coronavirus infections, as well as immunisation programmes globally and the impact on growth. Platinum surged to a fresh-six-year high. The pace of the outbreak in the US continued to ease as the week-to-week average hit the lowest in almost... 

PGMs-linked hydrogen production on way with local electrolysers, 12J funding  

By: Martin Creamer     15th February 2021 South African company Hydrox Holdings of Randburg is developing an advanced alkaline electrolyser to supply what it describes as “huge hydrogen demand”. The zero gap system will be the first locally produced electrolyser for South Africa and Africa, Hydrox states in a media release to Mining Weekly. 

Hydrox Holdings CEO Corrie de Jager
Photo by Creamer Media
Hydrox Holdings CEO Corrie de Jager

Alluvial diamond miners outline way to save fast-shrinking industry  

By: Martin Creamer     11th February 2021 The number of alluvial diamond operators is decreasing at an alarming rate. In 2004, there were 2 000 small diamond-mining companies, which employed close to 25 000 people, and now there are only about 200 operators employing only 5 000 people – a 90% decline. 

South African Diamond Producers Organisation national executive committee member Amo Marengwa
The South African Diamond Producers Organisation is interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

JP Morgan sees commodity supercycle already kicking off

By: Bloomberg     11th February 2021 Oil and other commodities have probably entered a so-called supercycle as a post-pandemic economic rebound and swelling inflation spark expectations of rising demand, according to JPMorgan Chase & Co. A new multi-year boom appears likely, given investor desire to hedge against inflation and a... 

WPIC says there is a ‘growing market’ for platinum in hydrogen adoption 

By: Simone Liedtke     10th February 2021 It is estimated that green hydrogen could supply up to 25% of the world’s energy needs and become a $10-trillion addressable market, says the World Platinum Investment Council (WPIC). This is underpinned by the recent emergence of strong green hydrogen-focused national hydrogen strategies,... 

Vision Blue helping world to achieve green dream with high-return prospects for investors  

By: Martin Creamer     10th February 2021 The world’s energy transition away from fossil fuels is a phenomenon that is not dependent on any assumptions about gross domestic product (GDP) growth or countries urbanising or industrialising. It is a phenomenon driven by international consensus that the carbon footprint of the world has to be... 

Sir Mick Davis
Sir Mick Davis interviewed by Mining Weekly’s Martin Creamer about Vision Blue Resources. Video: Darlene Creamer.

Copper traders hunt for more good news after longest rally slows

By: Bloomberg     10th February 2021 Copper is on the cusp of its longest rally on record, but the metal seen as a global economic bellwether has recently stumbled -- and traders are watching Washington and Beijing for clues to the next leg up. Traders and leading investors say the market needs more good news before prices can rip... 

China’s recovery points to Lunar New Year boost for gold demand

By: Bloomberg     10th February 2021 China’s economic recovery from the coronavirus pandemic may offer some solace to gold bulls, with expectations building that jewelry demand will rebound following last year’s wipe out. Jewelry retailers on the mainland have reported strong sales in recent months, while concerns over infection... 

China’s recovery points to Lunar New Year boost for gold demand

Platinum group metals outlook: constrained supply, very strong demand growth – WPIC  

By: Martin Creamer     8th February 2021 The outlook for platinum group metals (PGMs) is one of constrained supply and very strong demand growth. “You’ve got the entire PGMs suite that is short and that certainly will translate into tight markets,” World Platinum Investment Council (WPIC) Director of Research Trevor Raymond told Mining... 

World Platinum Investment Council Director of Research Trevor Raymond
World Platinum Investment Council Director of Research Trevor Raymond interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

A new commodities boom beckons when pent-up demand is unleashed

By: Bloomberg     8th February 2021 The eventual end of the coronavirus pandemic is likely to herald a consumption boom, piling pressure on precarious supply chains and boosting raw material prices, according to the Merchant Commodity Fund. “There’s a huge amount of pent-up demand in the consumer pocket,” said Doug King, head of... 

Diamonds forecast to regain pre-pandemic sparkle in 2022 to 2024 

By: Reuters     8th February 2021 Diamond jewellery demand will recover to pre-pandemic levels between 2022 and 2024, with China leading the way, a report commissioned by the Antwerp World Diamond Centre predicted. Demand recovery will diverge depending on lockdown policies, government support, and the extent to which retailers... 

Diamonds forecast to regain pre-pandemic sparkle in 2022 to 2024

LBMA says silver to be 2021’s top performer

By: Simone Liedtke     5th February 2021 The London Bullion Market Association (LBMA) has identified silver as the top performer among metals this year, considering that the commodity has garnered increased attention from investors over the past few days. The precious metal was up 20% in just three days, before correcting lower with a... 

Halt to Richards Bay Minerals project depriving South Africa of R100bn 

By: Martin Creamer     5th February 2021 Rio Tinto's KwaZulu-Natal mineral sands mining company, Richards Bay Minerals, has got a major project called Zulti South that is fully permitted and fully funded – but is not being developed. Construction began in the first half of 2019, but was then brought to a halt in December 2019 amidst... 

From top left clockwise, Gary Felthun, Roger Baxter, Werner Duvenhage, Mzila Mthenjane, Advocate Thabo Mokoena and Neal Froneman.
Photo by Creamer Media
From top left clockwise, Gary Felthun, Roger Baxter, Werner Duvenhage, Mzila Mthenjane, Advocate Thabo Mokoena and Neal Froneman.

Positive outlook for gold investment supports gold ETF inflows in January, says WGC

By: Tasneem Bulbulia     4th February 2021 Global gold exchange-traded funds recorded inflows of 13.8 t ($1-billion, 0.4%) in January, after two consecutive months of outflows in November and December, industry body the World Gold Council (WGC) says. Global assets under management now stand at 3 765 t ($226-billion), just 4% shy of the... 

Gold supply to increase as economic recovery plans continue

By: Simone Liedtke     4th February 2021 Gold supply is likely to increase this year as a consequence of many countries continuing to implement their economic recovery plans following the Covid-19 pandemic, World Gold Council (WGC) chief market strategist John Reade said during a gold-focused discussion on the second day of this year’s... 

Gold supply to increase as economic recovery plans continue

Botswana intensifying effort to attract non-diamond exploration  

By: Martin Creamer     3rd February 2021 Botswana has intensified efforts to digitise and make geoscience information readily available to local and international potential investors in an effort to encourage prospecting for non-diamond minerals, Botswana President Mokgweetsi Masisi told the virtual 2021 Investing in African Mining... 

Botswana president Mokgweetsi Masisi
Photo by Creamer Media
Botswana president Mokgweetsi Masisi

Silver finds calmer tone after posting biggest drop since August

By: Bloomberg     3rd February 2021 Silver climbed after posting the biggest loss since August, with markets calming following the buying frenzy that sent prices to an eight-year high earlier this week. Futures for March delivery rose 2% to $26.93/oz on the Comex at 7:50 a.m. in Singapore. Prices tumbled 10% on Tuesday after CME... 

Deloitte says closing the ‘trust deficit’ key for miners this year

By: Marleny Arnoldi     2nd February 2021 Consultancy Deloitte has identified the “trust deficit” between the mining industry and its wider set of stakeholders as the central narrative that emerged in its 'Tracking the Trends 2021' report. Deloitte says the industry is, in many ways, at an important juncture, with it holding the key to... 

Deloitte says closing the ‘trust deficit’ key for miners this year

Silver dealers scramble to find supplies for retail buyers

By: Reuters     2nd February 2021 A retail investment frenzy in silver driven by social media has left dealers from the United States to Singapore scrambling for bars and coins to meet demand. Silver prices extended their rally on Monday to an eight-year high as small investors answered calls on social media last week to buy the... 

Silver dealers scramble to find supplies for retail buyers

‘We need exploration to grow our industry’ – Minerals Council  

By: Martin Creamer     1st February 2021 “We need exploration to grow our industry,” Minerals Council South Africa president Mxolisi Mgojo said on Monday during a virtual State of the Mining Nation media briefing in which he described exploration as one of the low-hanging fruits that could change South Africa’s economic trajectory in... 

Minerals Council South Africa president Mxolisi Mgojo
Minerals Council South Africa media brief reporting by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Tirupati awarded first commercial contract to develop processing tech

By: Marleny Arnoldi     29th January 2021 Graphite producer Tirupati Graphite has announced that its research centre, which is focused on graphene manufacturing, graphene applications development and minerals processing technology development, has secured its first commercial contract. The contract involves Tirupati Graphene and... 

Newmont retains lead in ESG ranking of miners with Vale last

By: Bloomberg     29th January 2021 The steady stream of environmental pledges by mining companies around the world appears to be having the desired effect -- at least in terms of perceptions. An environmental, social and governance rating of the industry moved into positive territory last quarter from a negative reading in the... 

Newmont retains lead in ESG ranking of miners with Vale last

Export speed-up projects in spotlight at Richards Bay Coal Terminal  

By: Martin Creamer     28th January 2021 South Africa’s Richards Bay Coal Terminal is going all out to raise its export efficiency in a bid to counter ship queuing. With the R1.34-billion worth of stacker reclaimers and shiploaders provided in 2018 putting in solid performances, RBCT has now turned to debottlenecking conveyor projects... 

Five phases have resulted in a coal terminal with 91-million tons of export capacity
Richards Bay Coal Terminal’s presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Gold to remain ‘well supported’ in 2021, despite uncertainty, says World Gold Council 

By: Simone Liedtke     28th January 2021 While 2021 will likely continue to be characterised by uncertainty, owing to the Covid-19 pandemic, gold investment will remain well supported by the interest rate environment, which World Gold Council (WGC) market intelligence manager Krishan Gopaul says, “is likely to stay low for some time... 

Gold to remain ‘well supported’ in 2021, despite uncertainty, says World Gold Council

Glencore is looking lonely as rivals look to abandon coal business

By: Bloomberg     27th January 2021 Glencore is cutting an increasingly isolated figure as a major coal miner as one by one its biggest rivals look to abandon the most polluting fuel. Russian steelmaker Evraz said Tuesday it was considering options for demerging its coking coal business, five days after Brazilian iron-ore giant... 

Glencore is looking lonely as rivals look to abandon coal business

Third consecutive year of coal export decline from Richards Bay Coal Terminal  

By: Martin Creamer     27th January 2021 Coal exports from South Africa’s Richards Bay Coal Terminal (RBCT) last year declined for the third consecutive year, with the 70.2-million tons exported to mainly Asia and single-digit percentages to Africa and Europe, taking exports back to what they were in 2013. In 2020, two-million fewer... 

Geographic spread of South African coal exports from Richards Bay Coal Terminal.
Richards Bay Coal Terminal’s presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Steinmetz sentence opens new front in war on mining corruption

By: Bloomberg     27th January 2021 Switzerland took direct aim at the global mining industry when it sentenced Beny Steinmetz to five years for bribery. But it’s not clear if the Israeli billionaire will ever set foot in prison. Steinmetz’s conviction was hailed as a milestone in the fight against corruption in a sector long... 

Beny Steinmetz
Beny Steinmetz

Green technology boost for African mining 

By: Martin Creamer     26th January 2021 The key to unlocking value of Kabanga Nickel and enabling the full beneficiation of new era metals in Tanzania is an environment-friendly hydrometallurgy process that eliminates smelting and thus slashes the need for electricity. The Kabanga Nickel Hydromet process – which takes ore to refined... 

President John Magufuli of Tanzania, seated, looks on as Tanzania's Chief Treasurer Athumani Mbutukwa receives share certificates from Kabanga Nickel vice chairperson Chris von Christierson (centre) and Kabanga Nickel CEO Chris Showalter (right).
President John Magufuli of Tanzania, seated, looks on as Tanzania's Chief Treasurer Athumani Mbutukwa receives share certificates from Kabanga Nickel vice chairperson Chris von Christierson (centre) and Kabanga Nickel CEO Chris Showalter (right).

South African law team advises Saudi Arabia on mining legislation

By: Simone Liedtke     26th January 2021 A South African mining law team, led by Herbert Smith Freehills’ Johannesburg partner and Africa cochair Peter Leon, has advised Saudi Arabia’s Ministry of Industry and Mineral Resources on implementing regulations and guidelines supporting the recently promulgated New Mining Investment Law,... 

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