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R/$ = 14.80 Change: -0.06
Au 1754.64 $/oz Change: -6.92
Pt 925.13 $/oz Change: -21.37
 

Middle East News

Trump gave Israeli billionaire Dan Gertler sanctions reprieve

By: Bloomberg     26th January 2021 Sanctioned Israeli billionaire Dan Gertler can once again access the US financial system after the Treasury Department approved an authorisation in the waning days of the Trump administration. The US sanctioned Gertler and his companies in 2017 for allegedly corrupt mining and oil deals in the... 

Diamond trade is roaring back thanks to stuck-at-home shoppers 

By: Bloomberg     25th January 2021 The global diamond trade spent years in the doldrums, only to be crippled by the pandemic just as things started looking up. Now, at last, business is booming again. Factories in the industry’s “engine room” -- the Indian city of Surat -- are so desperate to boost production that the... 

Diamond trade is roaring back thanks to stuck-at-home shoppers

Local sourcing vital in UK, considering expected 70% jump in EV sales

By: Marleny Arnoldi     22nd January 2021 Research agency Fitch Solutions foresees a good year for electric vehicle (EV) development and a key component thereof, lithium. It says critical raw material (CRM) developments in the UK, the US and the European Union (EU) bode well for those regions’ battery supply chains and reducing their... 

Local sourcing vital in UK, considering expected 70% jump in EV sales

Responsible Mining Foundation seeks ‘more ambitious’ standards for TSFs 

By: Simone Liedtke     22nd January 2021 The vast majority of large-scale mining companies are still unable to demonstrate that they review and report on how effectively they manage risks related to tailings storage facilities (TSF), and take responsive actions as necessary, despite growing disclosure on TSFs, the Responsible Mining... 

The Corrego do Feijao tailings dam collapse, in Brumadinho, Brazil.
The Corrego do Feijao tailings dam collapse, in Brumadinho, Brazil.

Global copper smelting rises in December, driven by China

By: Reuters     21st January 2021 Global copper smelting activity climbed in December, led by top producer China, while North America extended its decline as coronavirus cases surged, data from satellite surveillance of copper plants showed. Europe dipped slightly, but its copper smelting activity remained strong, satellite... 

Platinum group metals demand set to overwhelm supply balance – Davis  

By: Martin Creamer     21st January 2021 Long-serving precious metals consultant Dr David Davis has reached the conclusion, after a comprehensive study, that the demand for platinum group metals (PGMs) is poised to outstrip stagnant supply. Davis, who has spent several months carrying out a ‘deep dive’ into the future of PGMs for... 

Precious metals consultant Dr David Davis, who believes that platinum will be next to board the price rocket.
Precious metals consultant Dr David Davis, who believes that platinum will be next to board the price rocket.

Platinum group metals playing role in Switzerland’s green hydrogen roll-out  

By: Martin Creamer     19th January 2021 Platinum group metals (PGMs), which South Africa hosts in greater abundance than any other country on earth, are playing important catalytic roles in Switzerland’s green hydrogen and green truck rollout, which is now under way. Mining Weekly can today report that proton exchange membrane (PEM)... 

Hyundai Hydrogen Mobility CEO Mark Freymueller
Hyundai Hydrogen Mobility CEO Mark Freymueller is interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Vedanta agrees to settlement with Zambian villagers over pollution claims

By: Marleny Arnoldi     19th January 2021 UK-based law firm Leigh Day has confirmed in a statement that global diversified miner Vedanta Resources has agreed to pay a settlement for all claims brought against it by Zambian claimants related to alleged pollution around the Konkola Copper Mines (KCM) operations. Without admission of... 

Want a fuel cell, you need platinum – analysts 

By: Martin Creamer     18th January 2021 If you want a fuel cell, you need platinum, is one of the multiplicity of points Bernstein investment company makes in a major work just released, which shows growing and ongoing demand for platinum group metals (PGMs) and provides ample reason why metals and mining matter more than ever. In the... 

Predicted future PGM tons heading high.
Photo by Bernstein
Predicted future PGM tons heading high.

Coal price expected to average $100/t as China turns to South Africa for coal 

By: Martin Creamer     15th January 2021 China is buying South African coal at a time when analysts are forecasting a buoyant average coal price of $100/t for the first half (H1) of 2021. The purchase of South African coal by China follows Chinese relations with Australia deteriorating last year and imports of coal from Australia being... 

Richards Bay Coal Terminal, from which South African coal is exported.
Richards Bay Coal Terminal, from which South African coal is exported.

Law firm says ESG most prominent risk beyond pandemic resilience

By: Marleny Arnoldi     15th January 2021 International law firm White & Case says 45% of decisionmakers believe environmental, social and governance (ESG) issues will be the biggest risk to the mining and metals sector this year. The firm reports in its 'Mining and Metals 2021' survey that the global mining and metals sector is facing... 

Law firm says ESG most prominent risk beyond pandemic resilience

Predictive maintenance an investment priority for miners, says GlobalData

By: Tasneem Bulbulia     15th January 2021 The drive to improve productivity and reduce downtime will lead to further investment by mining companies, large and small, in predictive maintenance for both plant and mobile equipment in the next two years, says data and analytics company GlobalData. A mine-site survey conducted by the company... 

Metals behind EV revolution to resume volatile rally - again

By: Bloomberg     15th January 2021 Battery metals are set to rebound this year as an electric-vehicle boom is bolstered by post-pandemic push for a green economic recovery. US President-elect Joe Biden has indicated the sector could get a boost, while China wants new energy vehicles to account for about 20% of total new car sales... 

Metals behind EV revolution to resume volatile rally - again

More sales of South African coal to China expected as prices rise

By: Martin Creamer     14th January 2021 About 600 000 t to 700 000 t of South African coal have already moved to China since the Asian giant ceased accepting coal from Australia and more South African coal sales to China are expected “for sure”, a top trader said in an interview with Mining Weekly. China’s power plants have been... 

Richards Bay Coal Terminal, South Africa's world-class coal export port.
Richards Bay Coal Terminal, South Africa's world-class coal export port.

BMO, Linklaters among the world's top mining M&A advisers

By: Marleny Arnoldi     14th January 2021 BMO Capital Markets has been named the top mergers and acquisitions (M&A) financial adviser in the global mining sector for 2020 by value, while Linklaters and Black Cassels & Graydon were the top M&A legal advisers by value and volume, respectively. BMO advised on 13 deals worth $4.8-billion. 

Greater govt involvement, sustainability in mining sector expected in 2021 

By: Marleny Arnoldi     14th January 2021 As mineral and metal prices, production and consumption improve this year amid a broader and deeper economic recovery from the pandemic, the outlook for miners and metal players is positive, says research agency Fitch Solutions. It notes that this year will see a mix of traditional trends... 

Greater govt involvement, sustainability in mining sector expected in 2021

Council expects gold investment, consumption to maintain strength in 2021 

By: Tasneem Bulbulia     14th January 2021 The Covid-19 pandemic raised uncertainty by compounding existing risk and creating new ones; however, the end of 2020 saw investors optimistic that the worst was over, the World Gold Council’s (WGC's) outlook for 2021 reveals. The organisation expects investors will perceive the low interest rate... 

Council expects gold investment, consumption to maintain strength in 2021

Rhodium roars above $20 000 in precious metals' biggest rally

By: Reuters     14th January 2021 Rhodium's rally to record highs shows no sign of stopping, with prices up 19% this month as auto makers that need the metal to meet tightening emissions regulations run into limited supply. Used in engine exhausts to neutralise harmful nitrous oxides, rhodium reached $20 190 an ounce on... 

Rhodium roars above $20 000 in precious metals' biggest rally

SMS Group to buy Andritz Maerz's copper furnace business

By: Donna Slater     13th January 2021 Industrial furnace company Andritz Maerz and plant supplier SMS Group have entered into an agreement to transfer the global copper furnace business, including the related intellectual property and service activities, from Andritz Maerz to SMS. SMS states that the acquisition further strengthens... 

China buying South African coal ‘could be game-changer but we shouldn’t be complacent’ 

By: Martin Creamer     13th January 2021 Normally, China does not import coal from South Africa, but 2021 has seen a shift. Shipments to mainland China were reported on Monday by the African Source Markets’ Weekly Coal Index Report. 

Richards Bay Coal Terminal, the port from which South African coal is exported
Richards Bay Coal Terminal, the port from which South African coal is exported

Gold exploration remains steady with moderate growth  

By: Donna Slater     13th January 2021 Amid falling exploration budgets across nearly all commodities, gold exploration remained steady in 2020, posting a 1% increase over 2019. Exploration was buoyed by stronger gold prices during the Covid-19 pandemic, reports research and data company Standard & Poor’s Global Market Intelligence... 

Gold among 2020's best-performing assets, says WGC 

By: Simone Liedtke     13th January 2021 Gold-backed exchange-traded funds (ETFs) and similar products had what the World Gold Council (WGC) called “a remarkable year” in 2020, as gold ETFs had recorded yearly net inflows of $47.9-billion, or 877 t, collectively increasing gold holdings by over a third and reaching all-time highs in... 

Gold among 2020's best-performing assets, says WGC

The UAE warns US shale companies against pumping more oil

By: Bloomberg     13th January 2021 Any attempt by US shale and other oil producers to boost output this year will backfire and lead to lower prices, according to the energy minister of the United Arab Emirates. Oil prices have surged in the past two months with the development of coronavirus vaccines. They jumped again last week... 

Battery metals demand expected to rise in 2021  

By: Simone Liedtke     12th January 2021 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) expects the demand for key battery metals to rise in the coming year as renewable energy and technology adoption continues to pick up pace. The acceleration to a... 

Battery metals demand expected to rise in 2021

The essential role of platinum group metals in ‘greening’ the world needs highlighting 

By: Martin Creamer     12th January 2021 The ‘greenness’ that South Africa can help bestow on the world needs hard sell now, Mining Weekly can today report. While South Africa’s amazing platinum group metals (PGMs) continue their decades-long task of cleaning the air of the world’s cities in the autocatalytic convertors of vehicle... 

'Green' hydrogen and fuel cells named by Lux Research as two of top-five energy technologies.
Photo by Hyundai Truck & Bus
'Green' hydrogen and fuel cells named by Lux Research as two of top-five energy technologies.

Gold investors target 'excessive' executive payouts amid deals

By: Reuters     12th January 2021 Gold investors critical of lavish executive payouts plan to vote down compensation at upcoming annual shareholder meetings, as soaring prices for the precious metal spur dealmaking. It is the latest knock against an industry that had only recently won back investor favor after being shunned due... 

Gold investors target 'excessive' executive payouts amid deals

Danish PM to lead IEA commission on making energy transition people-centered 

By: Terence Creamer     11th January 2021 The International Energy Agency (IEA) has announced the creation of a high-level global commission, headed by Danish PM Mette Frederiksen, to investigate how to ensure that people are placed at the heart of the unfolding global clean-energy transition. Speaking during a virtual briefing on... 

Dr Fatih Birol
Dr Fatih Birol

New ‘green’ platinum project leaps out of starting blocks, will use 82% less electricity  

By: Martin Creamer     11th January 2021 The innovative new platinum group metals mining and processing project that slashes 82% off electricity use and elevates platinum to a new high level of greenness, leapt out of its starting blocks in North West province on Monday. “We’ve commenced. The tanks are rolling,” Pallinghurst managing... 

Arne Frandsen
Pallinghurst managing partner and co-founder Arne Frandsen is interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Gold edges up from six-week low as equities cool off

By: Reuters     11th January 2021 Gold on Monday bounced off a six-week trough as a rally in equities stalled, though gains were capped by a stronger dollar and higher US Treasury yields. Spot gold was up 0.1% at $1 849.64 per ounce by 10:39 GMT, after touching its lowest since December 2 at $1 816.53. Gold last week recorded... 

Gold extends biggest loss in two months on rising dollar, yields

By: Bloomberg     11th January 2021 Gold fell to extend the biggest drop in two months amid gains in the dollar, Treasury yields, and equities, with investors weighing President-elect Joe Biden’s pledge to detail plans for huge US economic aid. Bullion endured a switchback week as January got under way, with early gains getting... 

Appian Capital Advisory’s second fund reaches $775m cap

By: Simone Liedtke     10th January 2021 Investment advisor Appian Capital Advisory’s second fund was oversubscribed and reached its hard cap of $775-million following strong support from both new and existing Tier 1 investors globally. Called Fund II, the fund will pursue the same proven strategy as Appian’s first fund (Fund I),... 

Atlantic Nickel pit at night
Atlantic Nickel pit at night

Earth’s margin for error narrows after another year of record heat

By: Bloomberg     8th January 2021 Another year of record-high heat punctuated a decade-long increase in global temperatures that has placed the Earth’s economies dangerously close to climate tipping points. Those are the conclusions published Friday by European Union scientists. Despite pandemic-induced lockdowns of the global... 

Gold heads for sixth weekly gain on stimulus outlook, Fed speak

By: Bloomberg     8th January 2021 Gold headed for a sixth weekly advance, the longest run since August, as investors focused on the prospect for more stimulus. They will also be watching for Friday’s jobs report, which is forecast to show a sharp slowdown in hiring. The two Democratic wins in Georgia’s Senate runoffs this week... 

US company planning at least 500 hydrogen fuelling stations in next 3 to 5 years  

By: Martin Creamer     7th January 2021 The creation of a minimum of 500 fuelling stations to provide hydrogen to mainly trucks powered by platinum-catalysed hydrogen fuel cells is planned by a US company in the next three to five years. “We believe that everyone will be within a couple of miles of a hydrogen fuelling station in the... 

Plans under way to develop hydrogen fuelling stations for platinum-catalysed fuel cell vehicles.
Creamer Media’s Mining Weekly interviews RAGHU KILAMBI, the CEO of PowerTap, a company that provides crucial hydrogen fuelling infrastructure for fuel cell electric vehicles.

Gold outperformed many traditional reserve assets in 2020, says WGC

By: Donna Slater     7th January 2021 Gold outperformed many other traditional reserve assets in 2020, giving central banks additional firepower to stabilise markets and currencies, says World Gold Council market intelligence manager Krishan Gopaul. He adds, however, that central bank demand has become more variable in recent... 

LBMA reports record 9 452 t of gold holdings in November

By: Marleny Arnoldi     7th January 2021 The London Bullion Market Association (LBMA) reports that, at the end of November last year, there was a record 9 452 t of gold, valued at $535-billion, held in stocks. This marked the seventh consecutive month of increases in stocks. 

LBMA reports record 9 452 t of gold holdings in November

Graphite output to bounce back by 2024 after 2020 dip

By: Marleny Arnoldi     7th January 2021 Natural graphite production is expected to increase by 7.6% to 1.02-million tonnes this year, following a 15.4% year-on-year decrease to 952 600 t in 2020, reports analytics company GlobalData. It notes that graphite production had experienced a downturn in 2020 owing to mines being placed either... 

The processing plant at Syrah Resources' Balama mine in Mozambique
The processing plant at Syrah Resources' Balama mine in Mozambique

Gold mine ups return-to-work protocols as Covid infection numbers spike  

By: Martin Creamer     6th January 2021 Return-to-work protocols at South Deep gold mine have been significantly enhanced to manage the sharp rise in the number of employees testing positive for the coronavirus on return to work after the festive season. Seven hundred and fifty tests have been carried out over three-and-a-half days,... 

Gold Fields executive vice-president and head of the South Africa region Martin Preece.
Creamer Media speaks to Gold Fields executive VP Martin Preece on coronavirus at South Deep gold mine. Video: Darlene Creamer.
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