R/€ = 18.16 Change: -0.15
R/$ = 16.05 Change: -0.16
Au 1783.13 $/oz Change: -10.01
Pt 935.79 $/oz Change: -16.96

Middle East News

Gold demand fell 7% y/y in third quarter, primarily owing to outflows from ETFs 

By: Simone Liedtke     28th October 2021 Gold demand fell 7% year-on-year and 13% quarter-on-quarter to 831 t in the third quarter, primarily owing to outflows from gold-backed exchange-traded funds (ETFs), the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ (GDT) report, shows. Net gold ETF sales were relatively small at 27 t,... 

Sibanye-Stillwater well positioned as climate resilient business – Froneman 

By: Martin Creamer     27th October 2021 Precious and green metals company Sibanye-Stillwater is well positioned as a climate-change resilient business in the future green economy, says CEO Neal Froneman, who emphasises environmental social governance (ESG) as being core to the company’s strategy as it achieves its objective of building... 

Creamer Media screenshot taken during online webinar October 2021
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Platinum's atypical alkaline electrolyser role lowering hydrogen cost outlook 

By: Martin Creamer     26th October 2021 Platinum group metals (PGMs) are lifting the performance of an alkaline electrolyser, which is helping to lower the cost outlook of green hydrogen. PGMs have been incorporated in the catalytic coatings of the electrodes of the prototype Advanced Alkaline Electrolyser (AAE) alkaline electrolyser... 

Creamer Media screenshot of Hydrox electrolyser.
Photo by Creamer Media
Hydrox’s PGM-using alkaline electrolyser.

Gold hovers near key $1 800 level as softer dollar lifts appeal

By: Reuters     25th October 2021 Gold prices held firm on Monday near the key level of $1 800 as a drop in the US dollar bolstered bullion's safe-haven appeal, while investors cautiously eyed the next Federal Reserve meet for guidance on its monetary policy. Spot gold was up 0.6% at $1 803.06/oz, as of 08:58 GMT. US gold... 

An image of gold bars and coins.

Canada’s First Nations see green hydrogen as an indigenous reconciliation opportunity 

By: Martin Creamer     25th October 2021 Hydrogen systems are not only going to be green, clean and low emission but they are also going to be local – and Canada’s First Nations see them as an indigenous reconciliation opportunity. “They’re going to be local energy systems,” Change Energy principal Rymal Smith said in response to Fasken... 

Creamer Media screenshot during Fasken webinar
Photo by Creamer Media
Bimaadzwin CEO Isadore Day

Metals rebound as world's energy crisis keeps roiling the market

By: Bloomberg     22nd October 2021 Base metals were mostly higher, paring a weekly slump, as the global energy crisis kept roiling the energy-intensive sector. The global energy shortage, fueled by record coal and gas costs, has forced metal output cuts from China to Europe, depleting inventories. Freeport-McMoRan, the world’s... 

Metals rebound as world's energy crisis keeps roiling the market

Mine operators need to take hydrogen very seriously, law firm webinar hears 

By: Martin Creamer     22nd October 2021 Mine operators need to take hydrogen and fuel cells very seriously as a pathway to decarbonisation, a webinar hosted by law firm Fasken heard this week. “There’s no pathway to zero carbon that does not include hydrogen and fuel cells,” H2GO Canada CEO Bob Oliver stated emphatically in response to... 

Creamer Media screenshot
Photo by Creamer Media
From to left, clockwise, Dan Brock, Isadore Day, Al Davidson, Rymal Smith and Bob Oliver.

No zero carbon without green hydrogen, US pledging $1/kg coal-parity price 

By: Martin Creamer     21st October 2021 The world will be unable to meet its zero-carbon targets without the introduction of green hydrogen solutions, says Plug Power chief strategy officer Sanjay Shrestha, at a time when the US has launched a programme to cut the cost of clean hydrogen by 80%. Nasdaq-listed Plug Power, a pure play... 

Creamer Media Screenshot
Photo by Creamer Media
Plug Power chief strategy officer Sanjay Shrestha

Millennials, Gen Z consumers the driving force of future platinum purchases

By: Simone Liedtke     21st October 2021 Global consumer markets such as China, India and the US are steadily recovering from the Covid-19 pandemic, with luxury shoppers showing greater optimism and improved consumer sentiment across all categories, especially precious platinum jewellery, the Platinum Guild International (PGI) has... 

Anglo appoints all-rounder to board and audit, remuneration committees

By: Marleny Arnoldi     20th October 2021 Diversified miner Anglo American has appointed Ian Tyler nonexecutive director, effective January next year, and as chairperson of both the audit and remuneration committees, effective April next year. Anne Stevens and Dr Byron Grote will step down as nonexecutive directors in April 2022,... 

Chinese sovereign mint launches platinum Panda coins

By: Marleny Arnoldi     20th October 2021 The People’s Bank of China has launched a set of Panda precious metal coins, in celebration of the iconic Panda series’ fortieth anniversary on October 20. The range includes the first platinum Pandas to be released since 2005.  

People's Bank of China Panda 2022 platinum coin
People's Bank of China Panda 2022 platinum coin

Voted-out Gilbertson wishes Jupiter godspeed, CEO moved off board

By: Martin Creamer     20th October 2021 A resolution for the removal of the MD and CEO of the ASX-listed Jupiter Mines as a member of the board was passed at the company’s general meeting on Wednesday, when mining doyen Brian Gilbertson was not re-elected as chairperson. Jupiter’s focus is on the highly successful Tshipi Borwa... 

Creamer Media picture of Gilbertson for story of him bowing out of Jupiter October 2021
Photo by Creamer Media
Brian Gilbertson

Global mining sector sees ESG focus as top risk or opportunity 

By: Tasneem Bulbulia     19th October 2021 Global mining executives rank environment, social and governance (ESG), decarbonisation and license to operate (LTO) as the top three risks and opportunities facing their businesses over the next 12 months, according to the latest EY 'Top 10 Business Risks and Opportunities for Mining and Metals... 

Global mining sector sees ESG focus as top risk or opportunity

Policy-not-law charter judgment going long way towards providing certainty – NSDV 

By: Martin Creamer     19th October 2021 The court judgement that the mining charter is policy and not law goes a long way towards providing regulatory certainty, says NSDV mining law senior associate Muhammed Khan ­– but it is not the end of the road, he cautions in a 1 500-word analysis entitled The Great Mining Charter Debate. Khan... 

Picutre supplied by NupenStaudeDeVries
NSDV mining law senior associate Muhammed Khan.

Incentive needed for smaller end of stock exchange to survive – Miller  

By: Martin Creamer     18th October 2021 An incentive is needed for the listing of companies on the smaller end of the stock exchange, which is facing an existential crisis, said AmaranthCX director and owner Paul Miller on Monday. Reacting to the groundswell of headlines about delistings and lack of listings on the Johannesburg Stock... 

Creamer Media screenshot of Paul Milller during October 2021 Zoom interview.
AmaranthCX director and owner Paul Miller interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

UBS raises copper premium forecast

By: Marleny Arnoldi     18th October 2021 Investment banking company UBS says physical premiums for copper have spiked across regions, alongside falling exchange inventories globally, particularly in China. Copper was up 18% in October and, given the risk power curbs present to refined copper supply, UBS is raising its copper price... 

While metals help ‘greenify’ industry, the industry itself needs cleaning up

By: Marleny Arnoldi     18th October 2021 While global carbon dioxide emissions fell by 5.8% in 2020 owing to Covid-19 lockdowns globally and therefore lower energy demand, Dutch multinational banking corporation ING says it is only a matter of time before they hit record highs again. International Energy Agency (IEA) estimates that... 

Hydrogen fuel cell has inexhaustible future, says Fortescue’s Andrew Forrest 

By: Martin Creamer     15th October 2021 The hydrogen fuel cell has an inexhaustible future as a means of maintaining the planet’s high standard of living, said Fortescue Metals Group chairperson Andrew Forrest during a global online symposium this week. “Our little planet’s cooking, the world’s impatient and there’s any amount of... 

screenshot taken by Creamer Media during Plug Power symposium
Photo by Creamer Media
Plug Power CEO Andy Marsh (left) and Fortescue Metals Group chairperson Andrew Forrest (right)

Energy crisis pushes copper towards best week since 2016

By: Reuters     15th October 2021 Copper on Friday was heading for its biggest weekly gain since 2016 as surging power prices threaten to curb supply at a time when exchange stockpiles are at rock bottom. A rapid rise in the cost of energy and shortages of power in China have already forced zinc and aluminium smelters to cut... 

An image of molten copper

Market recognising higher likelihood of platinum deficit than surplus in years ahead – WPIC  

By: Martin Creamer     14th October 2021 Right now, the market is recognising the higher likelihood of platinum being in deficit rather than in surplus in the mid-term years ahead, said World Platinum Investment Council research director Trevor Raymond on Thursday. Raymond expects pent-up up consumer demand for vehicles to reduce any... 

Picture of Trevor Raymond supplied by WPIC
The market is recognising the higher likelihood of platinum being in deficit rather than in surplus in the mid-term years ahead, said World Platinum Investment Council research director Trevor Raymond on Thursday.

Platinum benefits from higher demand in glass industry

By: Marleny Arnoldi     13th October 2021 The World Platinum Investment Council’s (WPIC’s) latest forecast anticipates a 69% growth in demand for platinum from the glass industry, rising to 658 000 oz this year, compared with 391 000 oz in 2020. As a proportion of overall industrial demand for platinum, glass is set to contribute 9%... 

WGC unpacks the benefits of mandatory gold hallmarking

By: Marleny Arnoldi     13th October 2021 The mandatory hallmarking for gold jewellery and gold artefacts that became effective in June, has been positive for India’s gold market, says the World Gold Council (WGC). The council says mandatory hallmarking improves transparency and gives consumers more confidence in the purity of the gold... 

Gold jewellery beneficiation

Harmony re-engineering portfolio, deleveraging balance sheet, creating optionality – Coetzer 

By: Martin Creamer     13th October 2021 Harmony Gold is at a very exciting point as it pivots in a new portfolio-enhancing direction and sheds costs at the same time, says Harmony investor relations head Jared Coetzer. “That little paragraph that we came up with about reengineering our portfolio and deleveraging our balance sheet to... 

Picture of Jared Coetzer supplied.
Harmony Gold investor relations head Jared Coetzer.

IEA warns of more energy market volatility as transition investment lags 

By: Terence Creamer     13th October 2021 There is a looming risk of more turbulence ahead for energy markets, the International Energy Agency (IEA) warns in its latest World Energy Outlook publication. “The world is not investing enough to meet its future energy needs, and uncertainties over policies and demand trajectories create a... 

IEA executive director Dr Fatih Birol
IEA executive director Dr Fatih Birol

Rare earths sector at risk of more substitution if prices spike

By: Reuters     12th October 2021 The rare earth sector is likely to face more substitution unless production ramps up sharply to close a looming supply gap, an industry executive has warned. Demand for rare earth permanent magnets, key for electric vehicles (EVs) and wind turbines, is due to soar as governments and companies... 

Pan African well positioned as solid-margin extended-life gold producer  

By: Martin Creamer     12th October 2021 Midtier South African gold mining company Pan African is building two schools for its communities, has handed over a clinic in Barberton, is planning to embed 35 MW of renewable energy, is constructing a water retreatment plant that will pretty much eliminate the use of potable water at Evander,... 

Supplied picture of Cobus Loots
Pan African is building two schools, has handed over a clinic in Barberton, is planning to embed 35 MW of renewable energy, is constructing a water retreatment plant and has a large-scale blueberry project in Barberton.

Iron-ore tumbles as China steel curbs are back in focus

By: Reuters     12th October 2021 Iron-ore futures were under pressure on Tuesday, with the Singapore benchmark retreating nearly 7% after a four-day rally and Dalian contracts erasing early gains, as investor focus shifted back to steel production controls in China. The steelmaking raw material's most-active November contract on... 

Global carbon capture projects surge 50% in 9 months – research

By: Reuters     12th October 2021 Global plans to build carbon capture and storage (CCS) plants have mushroomed over the last nine months as governments and companies accelerate the hunt for ways to cut emissions and curb global warming by mid-century, a think tank said on Tuesday. The capacity of planned projects soared to... 

Lithium viability in EV batteries being challenged by high prices

By: Donna Slater     11th October 2021 With lithium prices surpassing their 2018 peak, the increased cost of products the commodity goes into will be passed onto electric vehicle (EV) manufacturers and not necessarily battery cell manufacturers, thereby potentially leading to a cost increase in EVs in the near future, said Benchmark... 

Solutions for recycling EV batteries needed now to ensure future sustainability

By: Donna Slater     11th October 2021 With the energy transition from fossil fuels to renewable and less carbon-intensive energy solutions globally, as well as moves to expand electric and hybrid vehicle use, comes the issue of discarded batteries and electrical components in the future as electrical and battery systems reach the end... 

The hottest party in the metals world is back, but much smaller

By: Bloomberg     11th October 2021 Near-record copper prices are usually a sure sign that the parties will be extravagant and the champagne will flow all night when the metals world descends on London. But with Covid-19 still raging across much of the globe, the famously rowdy annual gathering of traders, financiers and producers... 

Exploration key to keeping South Africa on right side of future – investors 

By: Martin Creamer     11th October 2021 Exploration is key to keeping South Africa on the right side of the future-facing metals scenario, the Joburg Indaba heard last week from potential investors. During a panel discussion on mining sector prospects covered by Mining Weekly, the heads of international investment companies commented... 

Creamer Media screenshot of panel discussion at Joburg Indaba in October 2021
Photo by Creamer Media
Form top left clockwise are Fiona Perrott-Humphrey, Olivia Markham, Brett Beatty, Bernard Swanepoel and Mick McMullen.

Mining industry embraces decarbonisation 

By: Donna Slater     8th October 2021 Achieving net zero carbon emissions between now and 2050 has been a fast-evolving topic with lots of work being done in the mining industry, particularly around its Scope 1 and 2 emissions, Standard Chartered Bank MD and sustainable finance head Daniel Hanna said this week. He addressed the... 

An image of an underground LHD
Photo by Creamer Media's Donna Slater
A key focus on decarbonising the mining industry is phasing-out diesel machinery

Superpower rivalry and vaccine envy set stage for climate talks

By: Bloomberg     8th October 2021 Premiers, presidents, and princes come and go from the world’s biggest climate stage. It’s the nature of the annual international climate talks organized by the United Nations, known as the Conference of the Parties. The guest list changes with whichever parties are in power. Only someone like... 

An image of the COP26 logo

South Africa’s exploration investment lowest since democracy began, Joburg Indaba hears  

By: Martin Creamer     7th October 2021 South Africa’s mining industry is at its lowest level of exploration investment since democracy began in 1994, the Joburg Indaba heard on Thursday. “Never have we spent less – and this is a pity because significant promises were made about an exploration plan for the country,” Joburg Indaba... 

Creamer Media screenshot from Joburg Indaba October 2021
Joburg Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Alrosa records steady demand for large rough diamonds in key hubs

By: Creamer Media Reporter      7th October 2021 Russian diamond miner Alrosa in August and September sold 349 lots of diamonds, weighing more than 6 000 ct, at auctions in Antwerp, Dubai and Ramat Gan. The auctions, which attracted bidding companies from Belgium, Israel, India and the United Arab Emirates, generated $37.8-million in revenue. 

Copper analysts reset outlook on China's dual demand ructions

By: Reuters     7th October 2021 Copper analysts are reviewing their price forecasts for the red metal after simultaneous disruptions in two key sectors in China that together make up more than half the country's copper demand. The collapse of a major Chinese property developer that has ignited debt worries for the construction... 

An image of a copper operation

South Africa in danger of missing out on commodity boom, Joburg Indaba hears  

By: Martin Creamer     6th October 2021 A much more enabling environment is needed to ensure that South Africa does not miss out on yet another commodity boom, the Joburg Indaba heard on Wednesday. “We know that we’ve missed at least one commodity boom,” Foskor chairperson, Industrial Development Corporation director and founding... 

Creamer Media screenshot of PwC Africa CEO Dion Shango at Joburg Indaba 2021
Joburg Indaba opening session covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer
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