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Middle East News
Glencore, China’s GEM extend strategic cobalt partnership 
By: Martin Creamer 3rd December 2020 Diversified mining and marketing company Glencore has extended its partnership with GEM of China for the supply of cobalt hydroxide by another five years. Both companies have also formally embedded responsible sourcing and sustainability into the contractual relationship. →
BHP says copper output needs to double in 30 years, criticises pricing system
By: Reuters 3rd December 2020 Copper production must double in the next 30 years to meet demand driven by global trends towards decarbonisation and electrification, a senior BHP executive said on Thursday. Copper, widely used in power and construction, is well placed to benefit from the decarbonisation targets of some the... →
Battery costs fall, make electric vehicles cheaper - BMI
By: Reuters 3rd December 2020 The cost of battery cells used for electric vehicles has fallen to an average of $110/kWh, making such cars competitive with those using internal combustion engines (ICE), according to Benchmark Mineral Intelligence (BMI). One barrier to a higher take up of electric vehicles has been the high... →
Lead hits 1-year high on mine disruption but oversupply looms
By: Reuters 2nd December 2020 Mine disruptions have helped lead prices rally to one-year highs but plunging imports of the metal in top consumer China will mean an oversupplied market that will cap further gains despite sustained demand from the battery sector. Also contributing to lead's 20% rise since the middle of October... →
Copper bull market now fully under way – Goldman Sachs
By: Martin Creamer 2nd December 2020 The bull market for copper is now fully under way with prices reaching their highest level since 2017, Goldman Sachs International commodities research analysts reported on December 1. Also on December 1, Mining.com reported that the copper price was trading at its highest since March 2013 on... →
Hydrogen investment by PGMs-linked fund bodes well for South Africa
By: Martin Creamer 1st December 2020 A new investment in hydrogen, made by the sustainability-focused AP Ventures, bodes well for South Africa. AP Ventures, an independent venture capital fund that invests in early-stage companies that use platinum group metals (PGMs), has invested €5-million equity in HPNow, which has introduced a... →
Metal prices expected to average higher in 2021 amid recovery from Covid-19 – Fitch Solutions
By: Donna Slater 1st December 2020 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) expects miners and metal producers to experience a more favourable pricing environment in 2021 with nearly all mineral and metal prices forecast to average higher on a... →
Mining can retake investor darling status by going green – Frandsen 
By: Martin Creamer 30th November 2020 The taking of clear sustainability steps can make mining the darling of the investor community once again. Mining cannot participate in anything that leaves the world a worse place and needs to be cognisant of what it takes to have a licence to operate. Mining must have a smaller carbon... →
Copper hits seven-year high as demand hopes build
By: Bloomberg 27th November 2020 Copper rallied for a fourth day to reach a seven-year high, adding to this week’s powerful surge across base metals on hopes for a post-pandemic demand boom. The metal, which is used in everything from household wiring to electric vehicles, is gaining on optimism that the worst of the global... →
Climate-driven surge in scrap use could slash primary metal demand - Woodmac 
By: Reuters 27th November 2020 A surge in the use of scrap metal due to strict environmental policies could slash global demand for primary aluminium by almost half and cut demand for primary copper and iron by more than a third by 2040, Wood Mackenzie said on Thursday. In a report on the future of mining, the consultancy... →
Miners reiterate support for shift to cleaner vehicles
By: Mariaan Webb 25th November 2020 The mining industry is making progress on a shift to cleaner, safer vehicles, as collaboration between the International Council on Mining and Metals (ICMM) and original equipment manufacturers (OEMs) gains momentum. Under the ICMM’s Innovation for Cleaner, Safer Vehicles (ICSV) initiative, the... →
Anglo praised for blazing decarbonised mining trail with hydrogen truck project
By: Martin Creamer 25th November 2020 The electrolyser that will generate renewable hydrogen for the world’s largest hydrogen fuel cell electric vehicle project has been delivered to site by Nel Hydrogen Electrolyser AS, as part of the joint partnership with ENGIE and Anglo American, announced last year. ENGIE is providing the... →
African green hydrogen can provide important economic impetus – BMBF
By: Martin Creamer 24th November 2020 The establishment of an African hydrogen economy based on renewable energy can provide important impetus in the Southern African region and offer new perspectives, especially to young people. That is the view of German Federal Ministry of Education and Research (BMBF) Energy and Green Hydrogen... →
Gold drops to four-month low on vaccine news, Biden transition
By: Bloomberg 24th November 2020 Gold dropped to the lowest level in four months amid optimism over Covid-19 vaccine developments and the triggering of a formal transition process to President-elect Joe Biden. The General Services Administration acknowledged Biden as the apparent winner of the presidential election on Monday,... →
Coal mine on point of turning acid mine drainage into potable water at no cost
By: Martin Creamer 23rd November 2020 An Mpumalanga coal mine is on the point of entering into an agreement before year-end to have its acid mine drainage water curse turned into potable water at no cost, Mining Weekly can today report. Recovered potassium nitrate, which retails at about R15 000/t and which is marketed at about R11... →
Gold’s big question: Can the bull market outlive a pandemic?
By: Bloomberg 23rd November 2020 Gold’s record-breaking bull market is facing an existential question after this month’s pharmaceutical breakthroughs: what happens to the rally once Covid-19 vaccines start rolling out? Gold is viewed by many as the archetypal haven asset, inevitably driven higher in times of turmoil. By that... →
Copper surges to fresh two-year high on virus vaccine hopes
By: Reuters 20th November 2020 Copper surged to a fresh two-year high on Friday, and is set for its longest run of weekly gains since September, as investors weighed concerns about rising coronavirus cases against promising news on vaccines that could hasten an economic recovery. Base metals have climbed this month on signs... →
ICMM's new interactive tool to help achieve sustainable mine closure
By: Creamer Media Reporter 19th November 2020 The International Council on Mining and Metals (ICMM) has launched an interactive tool to help mining companies establish a clearer view of their assets’ levels of maturity on their journey to achieving sustainable mine closure. The closure maturity framework is designed to help companies map... →
Green economy faces challenge to replace carbon energy sources
By: Bloomberg 19th November 2020 The march toward a greener global economy is headed into a more difficult second phase that will aim to replace carbon as an energy source, said panelists during the Bloomberg New Economy Forum. Companies including Honeywell International and Schneider Electricare offering solutions to reduce... →
Chrome producers want ferrochrome solutions that exclude export tax
By: Martin Creamer 19th November 2020 South Africa’s non-integrated chrome ore exporters want to discuss ways of solving the existential threat to South Africa’s struggling ferrochrome industry to avoid the need for a tax being imposed on the export of locally mined chrome ore. But steadfastly in favour of a chrome ore export tax are... →
Anglo’s investment commitment to South Africa up R15bn
By: Martin Creamer 18th November 2020 Anglo American is on track to exceed its original investment commitment to South Africa, despite Covid-19 impacts, Mining Weekly can report. At this year’s SA Investment Conference, the London- and Johannesburg-listed diamond, platinum group metals and iron-ore mining company increased its total... →
Platinum investment demand rockets on risk and hydrogen – WPIC
By: Martin Creamer 18th November 2020 Platinum investment demand rocketed 291% in the three months to September 30, World Platinum Investment Council (WPIC) reported on Wednesday, when it forecast a third consecutive annual platinum deficit next year on an initial projected 2021 deficit of 224 000 oz. The high third-quarter (Q3)... →
Iridium breakthrough a boost for green hydrogen economy, PGMs mining
By: Martin Creamer 16th November 2020 The amount of iridium required to electrolyse green hydrogen has been drastically reduced, a breakthrough that is a significant boost for the upcoming green hydrogen economy as well as South African platinum group metals (PGMs) mining. Heraeus Precious Metals has achieved a material thrifting... →
Chrome export tax a positive step, special electricity dispensation now needed – Phiri
By: Martin Creamer 16th November 2020 The imposition of a tax on the export of chrome ore is a positive step, but to enable South Africa’s once-dominant ferrochrome industry to compete successfully once again, electricity prices should be made affordable by way of special dispensation, says mining stalwart Steve Phiri, who was... →
Steve Phiri
IEA cuts oil-demand outlook as vaccines won’t rescue market soon
By: Bloomberg 12th November 2020 The International Energy Agency (IEA) cut forecasts for global oil demand amid new lockdown measures and cautioned that the vaccine breakthrough won’t quickly revive markets. While crude prices rallied to a 10-week high above $45 this week on news of Pfizer Inc.’s progress, fuel use won’t... →
Gold mining has near-term risk opportunity through delivering decarbonisation objectives
By: Simone Liedtke 11th November 2020 The gold mining industry has a near-term opportunity in terms of climate change mitigation and adaption, simultaneously contributing to decarbonisation, World Gold Council (WGC) market relations head John Mulligan said during a climate change and mining-focused Web discussion on November 10. He... →
Supporting sustainable development places focus on climate change, risks for mining
By: Simone Liedtke 11th November 2020 While the primary extraction of certain raw materials remains necessary to support economic development, the achievement of the United Nations’ (UN’s) Sustainable Development Goals (SDGs), as well as in meeting industrial and consumer demand, a focus on how changes in climate exacerbate existing... →
WEF seeks to start a multistakeholder dialogue on deep-sea mining
By: Tasneem Bulbulia 11th November 2020 A new way to meet the growing demand for minerals critical to electric vehicle, electronics and battery manufacturers could become commercially available within this decade, says the World Economic Forum (WEF). It notes that significant public and private investment have gone into investigating... →
Platinum-linked green hydrogen economy right for Africa, says project manager
By: Martin Creamer 10th November 2020 The long value chain of green hydrogen economy has the potential to create a multiplicity of jobs and open up the market for investment possibilities for the Southern African region into what is expected to become a multi-trillion-dollar global decarbonisation market. Forschungszentrum Jülich... →
Ferrochrome commits to 750 MW self-generation, junior mining support
By: Martin Creamer 9th November 2020 South Africa’s struggling ferrochrome industry has committed itself to far-reaching efficiencies and competitiveness initiatives, including the self-generation of 750 MW of wind, solar and cogenerated power, support of junior mining development and the encouragement of local coking coal... →
Struggling South African ferrochrome industry commits to competitiveness programme.
Nordgold production stable in Q3 despite maintenance, lower grade issues
By: Marleny Arnoldi 9th November 2020 Global gold producer Nordgold's operations delivered 264 900 oz of gold production in the third quarter of the year, with healthy operating performance from the Gross, Taparko, Irokinda, Berezitovy and Suzdal mines having offset lower output from other operations. Production was, however, lower... →
How Biden’s win affects commodities hit by trade wars, tariffs
By: Bloomberg 9th November 2020 It’s been a tumultuous four years for US commodity industries that found themselves a key focus of the White House through its aggressive trade policy agenda. From steel and aluminum tariffs to grain subsidies to boosting exports of liquefied natural gas, very few corners of the global... →
Zambia copper explorer has exclusivity agreement with Anglo American
By: Martin Creamer 9th November 2020 Copper explorer Arc Minerals, which has done extensive exploration drilling in Zambia in its study of a near-term copper opportunity, has signed an exclusivity agreement with Anglo American, Arc Minerals executive chairperson and CEO Nick von Schirnding has reported. The UK Aim-listed Arc... →
Gold-backed ETFs record eleventh month of consecutive inflows
By: Creamer Media Reporter 6th November 2020 Gold-backed exchange-traded funds (ETFs) and similar products (gold ETFs) recorded their eleventh consecutive month of net inflows in October, matching the record number of positive monthly flows set in April 2006, reports the World Gold Council (WGC). Gold ETF holdings increased by 20.3 t,... →
Wits Basin’s shallow gold reefs to be mined as economic environment creates huge tailwind
By: Martin Creamer 4th November 2020 New mid-tier gold aspirant Shallow Reefs Gold is in the process of being built in South Africa to mine the shallow reefs of South Africa’s historic Witwatersrand Gold Basin. Shallow Reefs Gold has former Mineral Resources Minister Susan Shabangu and former Exxaro chairperson Sipho Nkosi on board... →
Mined commodities set to underwhelm in 2021 as stimulus measures end, economies unlock
By: Simone Liedtke 4th November 2020 Mined commodities are set to underwhelm in 2021 as the boost to commodity prices from stimulus measures and the phased unlocking of economies are short-lived, says Wood Mackenzie (WoodMac) metals research global head Simon Morris and bulk research global head Derryn Maade. Speaking during a... →
Copper trading volumes rebound as speculators return
By: Reuters 4th November 2020 Copper volumes on world exchanges are climbing again as a buoyant economic recovery from Covid-19 in top metals consumer China spurred speculators to pile back into the market. Copper is widely used by speculators and funds as a proxy for the health of the global economy due to its wide range of... →
Clean, green copper of N Cape will be produced at nigh zero cost – Orion
By: Martin Creamer 3rd November 2020 The clean, green copper that Orion Minerals will mine with the help of the Northern Cape’s hot sun and prime wind will be almost free of cost, paid for by the zinc credits, Orion Minerals CEO Errol Smart said on Tuesday. “If you take it as a copper mine only, net of zinc credits, we come close to... →
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