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Middle East News

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. 

Global atlas of freshwater life will use eDNA to tackle extinction crisis

By: Simone Liedtke     17th June 2021 A global atlas of freshwater life will use environmental DNA, or eDNA, to tackle the extinction crisis through the eBioAtlas programme, which will gather data at scale to support conservation, unlock investment and inform world biodiversity policy. The International Union for Conservation of... 

Cobalt supply must double by 2030 to meet demand - Trafigura exec

By: Reuters     16th June 2021 Cobalt supply will need to double by 2030 from current levels to meet surging demand for the key ingredient used in electric vehicles, commodity trading house Trafigura's head of nickel and cobalt trading said on Wednesday. "We estimate that we need twice as much (cobalt) supply by 2030,"... 

300-plus vehicle fleets assessed for cleaner, safer mine mobility in five regions – ICMM 

By: Martin Creamer     15th June 2021 As part of the cleaner, safer vehicles initiative of the International Council on Mining and Metals (ICMM), more than 300 vehicle fleets have been assessed for cleaner, safer mobility on more than 300 mines in five regions globally, ICMM health, safety and product stewardship director Sarah Bell... 

ICMM health, safety and product stewardship director Sarah Bell
International Council on Mining and Metals’ Sarah Bell interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Copper’s supercharged rally creaks on signs of softer demand

By: Bloomberg     15th June 2021 Copper’s stellar rally is starting to creak as investors unwind their bullish bets and evidence of demand weakness mounts in China’s powerhouse manufacturing sector. Prices plunged as much as 4.3% in London, crashing through their 50-day moving average to trade at a seven-week low. Copper hit an... 

Copper’s supercharged rally creaks on signs of softer demand

South African ferrochrome furnaces need to regain competitive advantage, warns Roskill 

By: Simone Liedtke     15th June 2021 The South African ferrochrome industry has benefitted from recent events in China, which commodity research consultancy Roskill says has removed significant global capacity through the closure of small furnaces. While higher-cost furnaces in southern China have been able to fill the short-term... 

South African ferrochrome furnaces need to regain competitive advantage, warns Roskill

White House highlights manganese as potential preferred battery element contender  

By: Martin Creamer     14th June 2021 The White House document on revitalising American manufacturing and fostering broad-based economic growth pays particular attention to South Africa as the world’s largest supplier of manganese, and to manganese as a potential preferred battery element contender, Mining Weekly can today report.... 

The White House on building supply chains.
Photo by Creamer Media
The White House on building supply chains.

Platinum jewellery sales continue to record strong rebound

By: Simone Liedtke     11th June 2021 Despite ongoing challenges escalated by the Covid-19 pandemic, platinum jewellery retailers and manufacturers report a sustained recovery across three of four key markets in the latest ‘Platinum Jewellery Business Review (PJBR)’ report for the first quarter of this year. The strong momentum is... 

Allow geologists from surrounding African countries to boost SA's exploration rebirth, top explorer advises  

By: Martin Creamer     11th June 2021 Exploration geologists from surrounding countries should be allowed into South Africa to boost exploration. That is the view of Exploration Geology Consultants exploration manager Thinus Jordaan, who believes that South Africa’s planned exploration thrust should focus on commodities required in... 

Exploration Geology Consultants exploration manager Thinus Jordaan
Exploration manager Thinus Jordaan interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Iron-ore scales over three-week high on China demand, supply risks

By: Reuters     11th June 2021 Iron-ore futures jumped on Friday to their highest in more than three weeks, as a rebound in steel inventory in top producer China suggested that demand for the raw material remained brisk. The most-traded September iron ore on China's Dalian Commodity Exchange rose as much as 4.1% to 1 226 yuan... 

Coal expected to remain dominant source of power in the coming decade - Fitch Solutions

By: Simone Liedtke     10th June 2021 Coal is expected to remain the dominant source of power for most of Southeast Asia and Australia in the coming decade, at least, and Fitch Solutions Country Risk and Industry Research says that will support the mining of coal and coal trade in the region. Coal currently remains the most practical... 

Sandvik expects bigger market for battery-driven mining gear in two to three years

By: Reuters     10th June 2021 Sandvik expects the market for battery-electric underground mining equipment to hit a higher gear in two to three years, as mining companies attempt to lower emissions and cut costs. With an electrification boom looming, Sandvik, whose competitors include Epiroc and Caterpillar, could sell more... 

Investors with $41tr ask G7 to stop subsidising fossil fuels

By: Bloomberg     10th June 2021 A coalition of investors overseeing a combined $41-trillion of assets have called on world leaders to set more ambitious greenhouse-gas emissions targets and end support for fossil fuels. DWS Group, Legal and General Investment Management and Pacific Investment Management Co were among 457... 

Secretive world of diamonds is in the grips of a buying frenzy 

By: Bloomberg     9th June 2021 At the latest De Beers diamond auction this week, buyers shopping for the kind of stones used to make an average engagement ring were in for a sticker shock: some prices had ballooned by 10% since the last sale. News of the unusually sharp increases spread swiftly through the community of 80-odd... 

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