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Copper resumes rally on China optimism, low inventories
By: Reuters 18th January 2023 Copper continued its rally on Wednesday, rising to its highest levels since June as speculators bet that low inventories and rising Chinese demand will lift prices. Benchmark copper CMCU3 on the London Metal Exchange was up 1.8% at $9 435 a tonne at 11:47 GMT having reached $9 481. →
Mega miners are hunting for deals after decade on the sidelines
By: Bloomberg 18th January 2023 In the rush of the 2000s commodities boom, the world’s biggest miners earned a reputation as swashbuckling dealmakers, taking on rivals in an onslaught of hostile offers, massive mergers and vicious bidding wars. Then it all fell apart. A series of disastrous transactions meant balance sheets... →
Measures to contain diamond mine tailings breach complete – Petra 
By: Martin Creamer 17th January 2023 When the eastern wall of a tailings storage facility at the Williamson diamond mine, in Tanzania, was breached on November 7 last year, precautionary measures to contain the tailings material and strengthen the New Alamasi water dam were carried out at the operation which is owned 75% by... →
Anglo appoints Alison Atkinson as projects, development group director
By: Schalk Burger 17th January 2023 Mining multinational Anglo American has appointed Alison Atkinson projects and development group director and as a member of Anglo's group management committee, with effect from the second quarter of this year. Atkinson currently serves as AWE CEO, which is an arms-length body of the UK... →
Goldman sees 'bullish concoction' for global commodities
By: Bloomberg 17th January 2023 Commodities have the strongest outlook of any asset class in 2023, with a perfect macroeconomic environment and critically low inventories for almost every key raw material, according to the head of commodities research at Goldman Sachs Group Inc. Commodities have the strongest outlook of any... →
Gold prices seen rising towards record highs as rate rises near end
By: Reuters 17th January 2023 Gold prices are expected to rise towards record highs above $2 000 an ounce this year, albeit with a little turbulence, as the United States slows the pace of rate hikes and eventually stops increasing them, according to industry analysts. Spot prices of the precious metal have shot above $1 900... →
China’s reopening should underpin commodity demand acceleration – Barclays
By: Martin Creamer 13th January 2023 China’s reopening and ‘whatever it takes’ approach to the property sector are tectonic shifts that should underpin an acceleration in commodity demand through 2023, say Barclays Equity Research analysts. 2023 is set to be another strong year for miners, European metals and mining analysts Amos... →
Barrick open to mining ventures with Saudi Arabia - Bristow
By: Bloomberg 13th January 2023 Barrick Gold is open to developing mining assets across the Middle East, Africa and southern Asia with Saudi Arabia, as the oil-rich country looks to improve its access to critical minerals. Barrick, the world’s No. 2 gold producer, operates a copper mine in Saudi Arabia and this week formed two... →
Lithium sales from South Africa on track to begin this month, Marula Mining reports 
By: Martin Creamer 12th January 2023 Sales of lithium processed out of stockpiles at the Blesberg project in the Northern Cape are expected to commence this month. “We’re on track for the first delivery of a thousand tons through to the offtake party that we’ve contracted with,” Marula Mining CEO Jason Brewer told Mining Weekly in a... →
Barrick Gold expands exploration footprint in Saudi Arabia
By: Creamer Media Reporter 12th January 2023 Canadian mining company Barrick Gold on Wednesday signed new joint venture (JV) agreements with Saudi Arabia’s Ma’aden for two prospective exploration projects comprising the Jabal Sayid South and Umm Ad Damar licence areas. These new prospective JVs significantly expand Barrick’s exploration... →
Copper tops $9 000 as China reopening boosts outlook for demand
By: Bloomberg 11th January 2023 Copper rose above $9 000 a ton for the first time since June, fueled by optimism that China’s reopening will spur demand in the world’s top consumer. The key industrial metal has bounced back following a 14% decline in 2022, when tough coronavirus restrictions hampered the Chinese economy. The... →
Platinum-boosting clean hydrogen projects, patents are all the rage
By: Martin Creamer 11th January 2023 The implementation agreement for Namibia’s planned multibillion-dollar Hyphen Hydrogen Energy project is scheduled to commence in the first quarter of this year, Namibia President Hage Geingob revealed in his 2023 New Year’s message. Egypt has granted approval for two green hydrogen projects in... →
Pronounced platinum production plummet predicted by independent consultant
By: Martin Creamer 10th January 2023 Global mine supply of platinum will fall by 500 000 oz to a million ounces as South Africa’s power shortage lowers production from 2023 to 2027, independent precious metals consultant Dr David Davis calculates in a summary report on platinum group metals (PGMs) production and Eskom. Davis, who... →
Independent consultant Dr David Davis
Gold posts marginal gain in 2022, up 3% in December – WGC
By: Donna Slater 10th January 2023 A 3% gain in December, owing to a weaker dollar, took the value of gold to $1 814/oz, resulting in a year-on-year gain of 0.4% – something the World Gold Council (WGC) says looked unlikely to many just two months ago. The WGC says 2022 provided a “textbook” example of how diverse sources of... →
Enable South Africa to become green hydrogen centre – ANC
By: Martin Creamer 9th January 2023 Enabling South Africa to become a green hydrogen centre through government support is highlighted in the January 8 Statement 2023 of the National Executive Committee (NEC) of the African National Congress (ANC). "The ANC recognises important work in the Hydrogen Roadmap and directs government to... →
LME copper hits more than 6-month peak as China reopens border
By: Reuters 9th January 2023 London copper jumped to a more than six-month high on Monday, while most other base metals also rose as demand prospects brightened after top consumer China reopened its borders. Three-month copper on the London Metal Exchange was up 1.3% at $8 698.50 a tonne, as of 08:05 GMT, after hitting its... →
Global commodities market volatility to ease in 2023 after disruptive 2022 – ERG
By: Donna Slater 20th December 2022 As a result of short-term price drivers, such as the ongoing Covid-19 lockdowns in China, monetary policy in the US and the fallout from the energy crisis caused by Russia’s invasion of Ukraine, most commodity prices sold off sharply this year – a trend that is likely to ease in 2023, says... →
Mixed performance for platinum jewellery demand in the third quarter
By: Marleny Arnoldi 19th December 2022 Platinum jewellery demand had a mixed performance in the third quarter, with the Platinum Jewellery Business Review showing year-on-year declines in demand in the US and China and increases in India and Japan. In India, a 35% year-on-year increase in platinum jewellery sales was powered by... →
Bumper green aluminium output is good news for carmakers, and climate
By: Reuters 18th December 2022 Aluminium makers are set to boost low-carbon metal output by 10% in 2023 and churn out even more in the years ahead, driving down the cost for carmakers seeking climate-friendly supplies and shrinking the industry's hefty carbon footprint. Aluminium is the most energy-intensive metal to produce,... →
Goldman says commodities will gain 43% in 2023 as supply shortages bite
By: Bloomberg 15th December 2022 Commodities will be the best-performing asset class once again in 2023, handing investors returns of more than 40%, according to Goldman Sachs Group. The Wall Street bank said that while the first quarter may be “bumpy” due to economic weakness in the US and China, scarcities of raw materials... →
Pan African gold operation receives Eskom approval to connect to grid
By: Martin Creamer 15th December 2022 The 10 MW Elikhulu solar renewable energy plant developed at Evander gold operations has become the first embedded project over 1 MW to receive full grid code compliance from Eskom. This was announced at the weekend by JUWI Renewable Energies and South African mid-tier gold producer Pan African... →
R387m bonanza for Thungela employees
By: Martin Creamer 14th December 2022 More than 3 500 employees will this month benefit from the first R387-million empowerment scheme payout of the high-flying Johannesburg- and London-listed Thungela mining company. The Sisonke employee empowerment scheme’s first disbursement is based on the dividends declared for the 2021... →
Platinum-based hydrogen, fuel cell decarbonisation winning global support
By: Martin Creamer 14th December 2022 Platinum-based green hydrogen and fuel cell clean energy solutions made news across a broad front in 2022. Active support for the creation of a viable green hydrogen economy, along with the firm underpinning of a just energy transition in South Africa, have captured many headlines. →
With Preece as interim CEO, Mokoatle will head Gold Fields South Africa
By: Martin Creamer 13th December 2022 In what is a transformational high point, Benford Mokoatle will run Gold Fields South Africa from January 1 when Martin Preece steps up as interim CEO following the sudden step down of Chris Griffith over the Yamana Gold transaction not succeeding. The Gold Fields South Africa EPV position goes... →
Gold is better portfolio diversifier than bitcoin - Goldman Sachs
By: Reuters 13th December 2022 Goldman Sachs expects gold, with its real demand drivers, to outperform the highly volatile bitcoin in the long term, the bank wrote in a Monday research note. Gold is less likely to be influenced by tighter financial conditions, meaning it is "a useful portfolio diversifier," said Goldman,... →
Underground mining at Anglo Platinum’s Mogalakwena targeted to start end 2024
By: Martin Creamer 12th December 2022 The first potential underground mining at Anglo American Platinum’s opencast Mogalakwena platinum group metals (PGM) mine in Limpopo is targeted to start towards the end of 2024 and build up slowly to a full underground unit by the end of the decade. “We’re nearing the end of phase one of the... →
Banks are finding loopholes to keep financing coal, study shows
By: Reuters 12th December 2022 European banks are finding ways to continue financing coal, despite signing up to climate alliances that target net-zero emissions, according to a study by nonprofit ShareAction. A survey of 25 European banks revealed that the industry is also underreporting its support of high-carbon sectors in... →
World’s rapid rate of change resulting in profound business disruptions, says Anglo CEO
By: Martin Creamer 9th December 2022 The world changing at a rapid rate has resulted in profound disruptions to the business of Anglo American, CEO Duncan Wanblad told analysts and investors on Friday. Speaking during an update presentation covered by Mining Weekly, Wanblad said the London- and Johannesburg-listed diversified mining... →
Glencore in position to double copper output using fossil fuel cash flows
By: Martin Creamer 8th December 2022 Diversified mining and marketing company Glencore will halve the production of its fossil fuel business between now and 2035 and in that time use the cash flows from that fossil business to double production of its copper business. “So, a very neat and tidy use of our fossil fuels, firstly to... →
Glencore working on value accretive emission reduction
By: Martin Creamer 8th December 2022 Over and above the carbon emission reduction that automatically results from declining coal assets, diversified mining and marketing company Glencore is working on reducing its Scope 1 and 2 emissions across its entire portfolio of assets in a manner that is largely value accretive or cost free.... →
Gold demand to continue benefitting from high inflation in 2023
By: Marleny Arnoldi 8th December 2022 The interplay between inflation and central bank intervention will be key in determining the outlook for gold in 2023, says World Gold Council (WGC) in its latest ‘Gold Outlook’ report. The council says that, with the global economy having been hit by various shocks over the past year, central... →
Employee communication solution at Glencore copper/cobalt mine
By: Martin Creamer 8th December 2022 Diversified mining and marketing company Glencore on Thursday announced an innovative employee engagement solution to strengthen communication with employees at the Kamoto copper and cobalt mine in the Democratic Republic of Congo (DRC). Kamoto, Vodacom Business and Standard Bank have partnered... →
Anglo invests $200m to accelerate zero emissions haulage solution
By: Martin Creamer 7th December 2022 Diversified mining company Anglo American has signed a binding agreement with First Mode, the specialist engineering technology company it partnered to develop the nuGenTM technology. The agreement is intended to accelerate the commercialisation of the climate-friendly truck and includes Anglo... →
China announces jump in gold reserves after more than 3 years
By: Bloomberg 7th December 2022 China reported an increase in its gold reserves for the first time in more than three years, potentially providing a pillar of support for prices. The People’s Bank of China raised holdings to 63.67-million troy ounces in at end-November from 62.64-million at end-October, according to data on... →
Green hydrogen can be near-future reality with collaboration, says Science Minister
By: Martin Creamer 7th December 2022 The transition to green hydrogen can be a hugely beneficial reality in the near future with collaboration between companies, countries and knowledge institutions, Higher Education, Science and Innovation Minister Blade Nzimande told a just transition event attended by European Commission Joint... →
R100bn green hydrogen/ammonia project secures special status 
By: Martin Creamer 6th December 2022 The race towards a just energy transition in South Africa's hardest hit region takes another big step forward with the Coega Green Ammonia project receiving government support to fast-track development. At last week's South Africa Green Hydrogen Summit in Cape Town, Public Works and... →
Lithium price to retreat from record as electric car sales slow
By: Reuters 6th December 2022 Healthy demand from battery manufacturers and shortages have propelled lithium prices to records, but rising supplies and China removing subsidies for electric vehicles mean a retreat is on the cards. Battery grade lithium prices trading near $85 000 a tonne are more than double the levels seen... →
Exploration drilling gaining momentum at Southern Palladium’s Bengwenyama project
By: Martin Creamer 5th December 2022 Exploration drilling is gaining momentum at Southern Palladium’s Bengwenyama platinum group metals project, a large, shallow exploration opportunity on the eastern limb of South Africa’s Bushveld Complex. One specific borehole into upper group two (UG2) reef recorded an impressive 800 centimetre... →
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