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Middle East News

M&As, JV activity continues, despite Covid-19 restrictions

By: Simone Liedtke     2nd September 2020 Mergers and acquisitions (M&As) and joint ventures (JVs) are expected to continue over the next 12 months, but some changes to usual due diligence process might be needed. In a Mines and Money-hosted webinar and panel discussion on September 2, Harvey Law Group foreign registered lawyer Amelia... 

South Africa’s green revolution gathering momentum 

2nd September 2020 The Covid-19 pandemic has presented countries around the world with immense challenges, as the impact of the virus has affected every aspect of everyday life as we know it, write Dr Cosmas Chiteme, Dr Rebecca Maserumule and Prof Dmitri Bessarabov. (Chiteme and Maserumule are senior managers at... 

Hydrogen fuel and containerised fuel cell installations at One Military Hospital in Pretoria.
Hydrogen fuel and containerised fuel cell installations at One Military Hospital in Pretoria.

Joburg’s political legacy mine dumps should come down to cut commute time – DRDGold  

By: Martin Creamer     1st September 2020 South Africa Inc should be doing much more to incentivise the recovery of precious metals from tailings dams for sound societal and environmental reasons that could free Johannesburg of its artificial ‘Berlin Wall’-type political legacy barriers that tilt commute times unfairly and block new-era... 

DRDGold CEO Niël Pretorius
DRDGold CEO Niël Pretorius talks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Cash-gushing DRDGold declares dividend on fourfold rise in operating profit 

By: Martin Creamer     1st September 2020 Surface gold mining company DRDGold on Tuesday declared its thirteenth successive-year dividend distribution on a fourfold-plus increase in group operating profit of R1 562.1-million, a sevenfold-plus headline earnings surge and rocketing market capitalisation. Free cashflow was R926.4-million... 

DRDGold CEO Niël Pretorius
DRDGold CEO Niël Pretorius

Federation appoints diamond sales expert to lead Get Diamonds trading platform

By: Marleny Arnoldi     31st August 2020 The World Federation of Diamond Bourses (WFDB) has appointed Kim Pelletier CEO of its newly formed Get Diamonds business-to-business trading platform. The federation says Get Diamonds is the only nonprofit diamond trading platform with a focus on “by the industry, for the industry”.  

South Africa must link tax laws to job creation, says ARM’s Motsepe   

By: Martin Creamer     31st August 2020 The private sector worldwide is the engine for job creation, in partnership with trade union organisations, government and communities, and South Africa must link its tax legislation to job creation. That is the view African Rainbow Minerals (ARM) executive chairperson Dr Patrice Motsepe... 

Dr Patrice Motsepe
African Rainbow Minerals executive chairperson Dr Patrice Motsepe responds to Mining Weekly’s Martin Creamer on attracting mining investment. Video: Darlene Creamer.

Freeport’s Adkerson elected ICMM chair

By: Creamer Media Reporter      31st August 2020 Richard Adkerson, president, CEO and vice-chairperson of US-based miner Freeport McMoRan, has been elected chairperson of the International Council on Mining and Metals (ICMM). Adkerson has been a member of the ICMM since 2005 and served as chairperson from 2008 to 2011. He also led... 

Freeport’s Adkerson elected ICMM chair

Cheaper diamonds fire life into the hidden world of gem trading

By: Bloomberg     31st August 2020 For the past six months, the global diamond hubs in Antwerp, Belgium, and Mumbai have been at a standstill, with cutting and polishing factories closed and trading floors shuttered. Now, a capitulation on prices by the biggest miners is sparking the industry back to life. After refusing to budge... 

Rhodium may turn out to be the metal of the decade – Northam 

By: Martin Creamer     28th August 2020 Rhodium may turn out to be the metal of the decade, Northam CEO Paul Dunne said on Friday. Speaking at the JSE-listed company’s presentation of outstanding results, which saw the company shrug off the Covid-19 pandemic to report a record financial year in the 12 months to June 30, Dunne said... 

Paul Dunne
Northam Platinum results covered by Mining Weekly’s Martin Creamer. Video: Kutlwano Matlala.

Investors who missed gold rush pile into platinum funds

By: Reuters     28th August 2020 Platinum holdings in exchange-traded funds have surged to a record, raising the prospect of a catch-up rally for the precious metal after months of lagging gold and silver. More than 600 000 oz of platinum have been added to ETFs since mid-May, according to data compiled by Bloomberg, as... 

Technology company launches tailored Industrial IoT solution for TSF insights

By: Simone Liedtke     28th August 2020 Global Industrial Internet of Things (IIoT) and cloud technology company sensemetrics Inc is transforming sensor data into real-time business intelligence by launching a tailored IIoT solution that gives mining companies and their insurers real-time, end-to-end tailings storage facilities (TSF)... 

Gold heads for third weekly decline as Powell’s speech assessed

By: Bloomberg     28th August 2020 Gold headed for a third weekly drop as investors weighed the impact of the Federal Reserve’s new approach to setting US monetary policy, with a more relaxed stance on inflation. Chair Jerome Powell said that the Fed will seek inflation that averages 2% over time, a step that implies allowing for... 

Covid-19 impacts on platinum industry in second quarter, but signs of recovery on the horizon

By: Simone Liedtke     27th August 2020 Covid-19’s economic impact on platinum supply and demand during the second quarter of the year has been severe, but Platinum Guild International’s (PGI’s) latest 'Platinum Jewellery Business Review' indicates that there are signs of recovery in the sector. For China specifically, a decline in... 

Sibanye-Stillwater earnings soar 718%, R1.3bn dividend declared 

By: Martin Creamer     27th August 2020 Precious metals mining company Sibanye-Stillwater has reported sensational half-year results on Covid-defying increased production from all operating segments The Johannesburg- and New York-listed company, headed by CEO Neal Froneman, has declared a R1.3-billion interim dividend on free cash... 

Neal Froneman
Photo by Creamer Media's Donna Slater
Neal Froneman

Electric cars to account for 79% of lithium demand by 2030 - Chile

By: Reuters     27th August 2020 The electric car industry will dominate demand for lithium over the next ten years, Chilean state mining agency Cochilco said on Wednesday, accounting for more than three quarters of the ultralight battery metal's consumption by 2030, up from one third in 2019. Cochilco said demand for lithium... 

High-flying DRDGold expecting nigh sevenfold earnings rocket 

By: Martin Creamer     26th August 2020 Surface gold mining company DRDGold is expecting half-year earnings per share to rocket nearly sevenfold. In a trading statement released on Wednesday, the company, headed by CEO Niël Pretorius, indicated earnings per share of 82.5 c for the financial year to June 30, compared with 11.8 c for the... 

Tailings dumps from which DRDGold recovers gold.
Tailings dumps from which DRDGold recovers gold.

Third of labour force let go – Master Drilling  

By: Martin Creamer     25th August 2020 The Covid-19 crisis resulted in drilling company Master Drilling having to let go a third of its labour force in the world, Master Drilling CEO Danie Pretorius said on Tuesday. Fochville-based Master Drilling provides drilling services to the mining, civil engineering and building construction... 

Master Drilling CEO Danie Pretorius
Master Drilling half-year results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Anglo American Platinum to transfer R2bn value to communities 

By: Martin Creamer     25th August 2020 Platinum group metals mining and marketing company Anglo American Platinum on Tuesday announced shared value worth R2-billion for host and labour-sending communities one year early as a result of recent strong share price performance. The settlement will result in R2-billion of value transferring... 

Anglo American Platinum CEO Natascha Viljoen
Anglo American Platinum CEO Natascha Viljoen

Master Drilling’s net half-year operating cash up 100% 

By: Martin Creamer     25th August 2020 Net cash generated from operating activities in the six months to June 30 increased 100% to $11.1-million amid unprecedented Covid-19 disruptions, drilling services company Master Drilling reported on Tuesday The Johannesburg Stock Exchange-listed company, headed by CEO Danie Pretorius, provides... 

Master Drilling CEO Danie Pretorius
Photo by Creamer Media's Donna Slater
Master Drilling CEO Danie Pretorius

De Beers cuts diamond prices after Covid-19 curbs demand

By: Bloomberg     25th August 2020 De Beers has finally decided to cut the price of its diamonds in a bid to spark sales after the coronavirus pandemic paralyzed the industry. De Beers, the world’s biggest producer, told customers that it is cutting prices for larger stones by almost 10% at its sale starting this week, according... 

De Beers cuts diamond prices after Covid-19 curbs demand

Sandvik to host global virtual event to showcase new equipment, mining solutions

By: Simone Liedtke     24th August 2020 Sandvik Mining and Rock Technology will host a virtual event − the Innovation in Mining Virtual Event − next month, which will showcase a line-up of new equipment and solutions, as well as the latest technologies for digitalisation, automation and electrification for the mining industry. Taking... 

Sandvik to host global virtual event to showcase new equipment, mining solutions

Glencore part of giant leap to transform informal cobalt mining  

By: Martin Creamer     24th August 2020 Eight concerns, including diversified mining and marketing company Glencore, have joined forces to transform the informal mining of cobalt for the better. Full implementation would take five years and would begin in mines in Kasulu and Kamilombe in the Democratic Republic of Congo (DRC), with the... 

The pit is excavated by a team of five to seven diggers, locally known as creuseurs.
The pit is excavated by a team of five to seven diggers, locally known as creuseurs.

Covid-19 hurt mining in Asia and the Americas most

By: Creamer Media Reporter      24th August 2020 Mining operations in Asia and the Americas were hardest hit by government regulations implemented to stymie the spread of Covid-19, and are the regions that will register the largest declines in mineral production growth this year. This is according to a new report by Fitch Solutions, which... 

Gold fever in 2020 means exchange-traded funds

By: Bloomberg     24th August 2020 In the nineteenth century California gold rush, the surest way to a fortune, according to Mark Twain, was to be in the “pick and shovel business.” If 2020 gold fever has an equivalent, it’s the exchange-traded fund (ETF) business. 

Gold fever in 2020 means exchange-traded funds

Fortescue opens talks with Afghanistan on nation's mining riches

By: Bloomberg     21st August 2020 Fortescue Metals Group has held talks with Afghanistan’s President Ashraf Ghani on potential mining sector opportunities in the nation, which has struggled to accelerate development of an estimated $1-trillion worth of minerals deposits. Ghani and the company’s chairman Andrew Forrest held an... 

Fortescue opens talks with Afghanistan on nation's mining riches

Electra Mining Africa 2020 going digital with Connect – and it’s free of charge 

By: Martin Creamer     20th August 2020 The Electra Mining Africa Connect week will enable exhibitors to promote their products and services free of charge alongside industry-related informative webinars, media activations and product showcase opportunities from September 7 to 11. For the first time in 48 years, Electra Mining Africa... 

Specialised Exhibitions MD Gary Corin.
Specialised Exhibitions MD Gary Corin outlines Electra Mining Africa 2020 Connect plans to Martin Creamer. Video: Darlene Creamer.

Iron-ore’s stunning rally faces challenge as supply risks fade

By: Bloomberg     19th August 2020 Iron-ore’s stunning rally this year, underpinned by China’s demand for the steel-making raw material, risks slowing as miners ramp up output. The industrial material blasted past $120/t on Tuesday, propelled by China’s stimulus to prop up its pandemic-hit economy and supply disruptions that... 

Iron-ore’s stunning rally faces challenge as supply risks fade

Tiffany will soon reveal everywhere your diamond has traveled

By: Bloomberg     19th August 2020 Tiffany & Co wants to ease customers’ concerns about human rights abuses in the diamond industry by providing them with an unprecedented amount of detail about the precious stones it sells. Beginning in October, the 183-year-old luxury retailer will provide expanded origin details for newly... 

Gold rebounds above $2 000 amid escalating US-China tensions

By: Bloomberg     18th August 2020 Gold climbed back above $2 000 an ounce as renewed tensions between the U.S. and China boosted demand for haven assets, and the dollar weakened. The Trump administration announced further curbs on Huawei Technologies aimed at cutting its access to commercially available chips. The move is the... 

Gold rebounds above $2 000 amid escalating US-China tensions

Encouraging exploration would deliver enormous opportunities for SA – Bristow  

By: Martin Creamer     17th August 2020 Encouraging exploration in South Africa would deliver enormous opportunities, says Barrick Gold president and CEO Dr Mark Bristow, a world leader in exploration success. Bristow was commenting on the call for mining exploration to be encouraged, made last month by the economic transformation... 

Mark Bristow
Mark Bristow

Awesome new proudly South African face mask kindling international interest   

By: Martin Creamer     13th August 2020 An awesome new proudly South African face mask, with a replaceable filtration system at its heart, is attracting international interest. The innovative and timely Hudaco Air Mask is a lockdown-period product of the Johannesburg Stock Exchange-listed Hudaco Industries group. (Also watch attached... 

The Hudaco mask assembly.
Hudaco CEO Graham Dunford and Hudaco’s executive consultant Mike Allnutt discuss the new Hudaco face mask innovation with Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Gold calms down after wild ride as investors weigh next steps

By: Bloomberg     13th August 2020 Gold held above $1 900/oz following wild swings as investors weighed the outlook for the metal’s record-setting rally, tracking moves in bond yields, a weaker dollar, as well as an uptick in risk appetite. Spot bullion steadied, while futures dropped after US stocks briefly surpassed their... 

Gold calms down after wild ride as investors weigh next steps

From carats to peanuts: how a pandemic upended the global diamond industry

By: Reuters     12th August 2020 As the coronavirus pandemic upended the global diamond industry, shuttering mines from Lesotho to Canada and disrupting supply chains, Rajen Patel swapped diamond polishing for peanut farming. Patel, who worked for a decade in India’s Surat where about 80% of the world’s diamonds are polished,... 

From carats to peanuts: how a pandemic upended the global diamond industry

Gold heads for biggest drop since 2013 with risk appetite rising

By: Bloomberg     11th August 2020 Gold headed for the largest downturn in seven years as risk appetite gained after a proposed US tax cut and a rise in bond yields. Stocks climbed after US President Donald Trump said he’s considering a tax cut on capital gains. That’s reduced demand for gold as a haven, helping notch a third day... 

Gold heads for biggest drop since 2013 with risk appetite rising

High-flying Barrick Gold opens up exploration front in Japan 

By: Martin Creamer     11th August 2020 High-flying Barrick Gold has established a gold exploration joint-venture front in Japan. “Japan has opened up its mining and exploration legislation for the first time since the war,” Barrick Gold CEO Dr Mark Bristow told Mining Weekly on Tuesday. 

Dr Mark Bristow
Dr Mark Bristow

Mine export values back but volumes need boosting – Minerals Council 

By: Martin Creamer     10th August 2020 South Africa’s mine export values have bounced back encouragingly but volumes still need boosting. June’s export value was 13% up on May. 

Production and export volumes compared with export values.
Production and export volumes compared with export values.

Middle East, Africa mining deal activity increases in second quarter

By: Tasneem Bulbulia     7th August 2020 Overall deal activity in the Middle East and African metals and mining industry increased by 16.7% in the second quarter, data and analytics company GlobalData’s deals database shows. Twenty-eight deals worth $1.44-billion were announced for the region during the quarter, against the last... 

Coal will continue to be assessed but should remain in Glencore right now – Glasenberg 

By: Martin Creamer     6th August 2020 Coal will continue to be assessed but should remain in Glencore right now, Glencore CEO Ivan Glasenberg said on Thursday. For the six months to June 30, the London- and Johanneburg-listed diversified mining and marketing company report that its energy business was down 65% at $0.7-billion on... 

Ivan Glasenberg
Ivan Glasenberg
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