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Middle East News

Gold Fields has compelling ‘pure play gold’ investment case – Griffith 

By: Martin Creamer     6th May 2021 Gold mining company Gold Fields has a compelling investment case for its shareholders and any investor looking for exposure in high quality and cash generative gold business, new CEO Chris Griffith said on Thursday. Answering questions during a conference call following the reporting an... 

ICMM launches protocols, guide to improve tailings management, safety 

By: Donna Slater     6th May 2021 The organisation lobbying for a safe, fair and sustainable mining and metals industry, the International Council on Mining and Metals (ICMM), has launched two new resources to support continual improvement in the safe and transparent management of tailings facilities. These resources include... 

The scene post the catastrophic tailings dam collapse at Vale’s Córrego de Feijão mine, in Brumadinho, Brazil
Photo by Reuters
The scene post the catastrophic tailings dam collapse at Vale’s Córrego de Feijão mine, in Brumadinho, Brazil

Net zero gold a ‘realistic prospect’ – WGC  

By: Simone Liedtke     6th May 2021 The increased accessibility of means to further decarbonise electricity is creating an opportunity for gold to move towards carbon neutrality and makes net zero gold a realistic prospect, World Gold Council (WGC) market relations director and climate change lead John Mulligan said during the... 

John Mulligan
World Gold Council's John Mulligan gives an overview of how a pathway to net zero gold is possible. Video: Creamer Media's Kutlwano Matalala. Editing: Creamer Media's Nicholas Boyd.

Fitch Solutions forecasts higher iron-ore price on the back of strong Chinese demand

By: Simone Liedtke     6th May 2021 Research agency Fitch Solutions Country Risk and Industry Research has revised its iron-ore price forecast for this year higher to an average of $160/t, from its previous forecast of $120/t, as exceptionally strong demand from the Chinese and global steel industry contributed to prices breaking... 

Platinum demand growth to be bolstered by FCEVs, says WPIC

By: Simone Liedtke     6th May 2021 Platinum in fuel cell electric vehicles (FCEVs) is a growing demand sector for platinum, with wider adoption dependent on the availability of an accessible hydrogen refueling network, says the World Platinum Investment Council (WPIC) in its latest newsletter on May 5. This FCEV growth is coming... 

Barrick’s Bristow criticises resurgence of market-plaguing short-termism 

By: Martin Creamer     5th May 2021 The rise in the gold price has prompted a resurgence of the short-termism which has plagued the market, with some investors focusing on short-term gains rather than sustainable growth, Barrick Gold CE Dr Mark Bristow said on Wednesday, when his New York- and Toronto-listed company paid a... 

Barrick Gold CEO Mark Bristow
Barrick Gold CEO Mark Bristow

Energy specialist encourages mines to consider hybrid energy systems

By: Simone Liedtke     5th May 2021 Electrical energy solutions provider Senergy energy specialist Wilco de Villiers has encouraged miners to consider the value of implementing hybrid energy systems at their operations, as mines cannot function effectively without reliable energy supply. Speaking during this year’s Energy & Mines... 

Iron-ore’s blistering rally sets sights on $200 as steel booms

By: Bloomberg     5th May 2021 A surge in steel consumption as the world emerges from its pandemic-induced slump is set to drive iron-ore to an unprecedented high as the biggest miners struggle to keep up with the frenzied pace of demand. Expectations are building that benchmark prices can get to $200/t -- topping the record... 

Mining sector key to kickstarting hydrogen industry, says consultant

By: Simone Liedtke     5th May 2021 Hydrogen is set to play a key role in achieving carbon-neutral mining, an industry that is being touted as a key enabler of the global hydrogen industry, Engie Impact consultant Jasper Schrijvers said during a virtual presentation at this year’s Energy & Mines Africa conference. During his... 

ICSG sees copper supply outstripping demand in 2021, 2022

By: Mariaan Webb     5th May 2021 Following a significant copper shortfall last year that drove a price rally, the International Copper Study Group (ICSG) is saying that copper supply will outstrip demand this year and next year. The ICSG is forecasting market surpluses of 80 000 t and 110 000 t for 2021 and 2022, respectively.... 

ICSG sees copper supply outstripping demand in 2021, 2022

Use of ruthenium in fuel cells set to turn down as green hydrogen trend turns up – Heraeus  

By: Martin Creamer     4th May 2021 The use of ruthenium in fuel cells is poised to decline in line with the growing trend towards the generation of green hydrogen. “We believe that the use of ruthenium in fuel cells will come down, as the trend to green hydrogen will bring with it purer feeds with less carbon monoxide impurities,... 

Heraeus Precious Metals executive VP new business development and innovation Philipp Walter
Heraeus Precious Metals executive VP Philipp Walter interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

World’s biggest jewellery maker will no longer use mined diamonds

By: Bloomberg     4th May 2021 Pandora, which makes more pieces of jewelry than any other company in the world, will stop using mined diamonds as part of a broader strategy to drop raw materials associated with unethical production methods. Despite decades of reform, the global jewelry market remains tainted by reports of... 

World’s biggest jewellery maker will no longer use mined diamonds

Record metals prices catapult mining profits beyond big oil

By: Bloomberg     3rd May 2021 Major oil producers, for decades the natural resource industry’s top earners, are being eclipsed by once-smaller mining peers who are churning out record profits thanks to red-hot metals markets. The mining windfall is the latest sign of a boom in iron ore, copper and other metals that’s sending... 

Record metals prices catapult mining profits beyond big oil

Promising suite of manganese assets facing extremely attractive manganese fundamentals 

By: Martin Creamer     3rd May 2021 Unlisted empowered mining investment company Ntsimbintle Holdings, which last month grabbed the headlines by becoming the biggest shareholder in the ASX-listed Jupiter Mines Limited, has promising additional manganese mining assets serving a manganese market that observers describe as having... 

Ntsimbintle chairperson Saki Macozoma
Ntsimbintle chairperson Saki Macozoma

First ever Shanghai Platinum Week to be held next month

By: Simone Liedtke     30th April 2021 To develop a stronger domestic platinum-group metals (PGMs) market and to improve domestic and international communication and cooperation, the Precious Metal Industrial Committee at the China Material Recycle Association (PMIC), the Platinum Committee at China Gold Association (PDCGA) and the... 

AP Ventures makes yet another promising hydrogen investment 

By: Martin Creamer     30th April 2021 Venture capital funds manager AP Ventures has made yet another promising investment the fast-growing hydrogen sector, Mining Weekly can today report. AP Ventures Fund II focuses on hydrogen and its role in decarbonising energy and this latest investment is set up to contribute to establishing a... 

AP Ventures founder and partner Kevin Eggers
AP Ventures founder and partner Kevin Eggers

Report reveals poor ESG risk management

By: Donna Slater     30th April 2021 The results of a March study into environment, social and governance (ESG) due diligence and transparency in the extractive commodity trading sector reveals that, while corporate commitments on ESG issues are relatively widespread, these commitments are rarely shown to be translated into... 

PGMs in all three drive trains if Lion Battery initiative is successful – Anglo  

By: Martin Creamer     29th April 2021 If the Lion Battery Technologies initiative proves successful, platinum group metals (PGMs) will feature in all three of the world’s drive trains, Anglo American executive head of PGM market development Benny Oeyen said on Thursday. This would mean that PGMs would not only play key roles in... 

Anglo American executive head of PGM market development Benny Oeyen
Anglo American executive head PGM market development interviewed by Mining weekly’s Martin Creamer. Video: Darlene Creamer

Gold outlook for 2021 positive, despite uncertainty – World Gold Council 

By: Simone Liedtke     29th April 2021 Gold investment demand fell in the first quarter, driven by hefty outflows in gold-backed exchange-traded funds (ETFs) as growing expectations of higher interest rates impacted sentiment, the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ (GDT) report shows. WGC market intelligence... 

Gold outlook for 2021 positive, despite uncertainty – World Gold Council

Mining policy should be hugely supportive of exploration’s multiplier magic – investor  

By: Martin Creamer     28th April 2021 Mining, preceded by exploration, is the greatest economic multiplier of all business activities, including government expenditure, says Integral Asset Management chief investment officer Bruce Williamson. It therefore makes huge sense for government to enact attractive investment-friendly... 

Integral Asset Management chief investment officer Bruce Williamson.
Integral Asset Management CIO Bruce Williamson interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Precious jewellery demand set for continuing recovery, Platinum Guild says  

By: Tasneem Bulbulia     28th April 2021 Following a challenging year for luxury goods marketers in 2020, the latest consumer survey commissioned by worldwide marketing organisation Platinum Guild International (PGI) during the first quarter of 2021 has determined positive sentiment for the jewellery industry, with a strong indication... 

Precious jewellery demand set for continuing recovery, Platinum Guild says

New capacity needed to meet rapid copper demand growth

By: Reuters     28th April 2021 Ample copper supplies next year and in 2023 will keep the market balanced, but miners need to start investing in new capacity now to meet a pick up in demand growth as economies switch to renewable energy. Copper prices at around $9,900 a tonne, close to the record $10,190 a tonne hit in February... 

Tackling climate change could not be more urgent – Anglo American 

By: Martin Creamer     26th April 2021 Tackling climate change could not be more urgent, Anglo American said on Monday when it presented its biannual sustainability performance update. “For the emissions that we control in our business, we have come a long way, delivering our 2020 target to reduce greenhouse gas emissions by 22% a... 

From left, clockwise Mark Cutifani, Anik Michaud and Stephen Pearce
Photo by Creamer Media
From left, clockwise Mark Cutifani, Anik Michaud and Stephen Pearce

Copper jumps to highest since 2011 as demand bets reignite rally

By: Bloomberg     26th April 2021 Copper surged to the highest in a decade on expectations supply will tighten as the global economic recovery gains traction. Prices have climbed amid a broad rally across industrial commodities from iron-ore to aluminum. Economic bellwether copper has been boosted by prospects for rebounding... 

Copper jumps to highest since 2011 as demand bets reignite rally

Anglo explores PGMs-based tech to simplify hydrogen storage in electric vehicles 

By: Martin Creamer     26th April 2021 Diversified mining and marketing company Anglo American, through its platinum group metals (PGMs) business Anglo American Platinum, is partnering with Umicore to research and develop technology that has the potential to transform the way hydrogen can be stored and used to power fuel cell electric... 

Anglo American executive head of PGMs market development Benny Oeyen
Photo by Creamer Media's Donna Slater
Anglo American executive head of PGMs market development Benny Oeyen

Diamond stash worth billions sold off after demand roars back

By: Bloomberg     26th April 2021 The diamond industry’s collapse last year left the biggest producers with billions of dollars of uncut gems stashed away in safes. Now, in a matter of months, they’ve suddenly found buyers. The huge stockpile was built up when the diamond world came to a standstill during the height of the... 

Battery metal rush pits miners against marine biologists

By: Bloomberg     26th April 2021 Controversial plans to mine the ocean floor face a key test this year when a United Nations body unveils rules that could spur the exploitation of hundreds of billions of dollars of battery metals. The International Seabed Authority is preparing to pass regulations in July that could trigger a... 

Battery metal rush pits miners against marine biologists

Saudi State miner Maaden said to name third CEO in 13 months

By: Bloomberg     26th April 2021 Saudi Arabia’s State miner has appointed its third chief executive officer in the past 13 months after the departure of Mosaed Al Ohali, according to people familiar with the matter. Abdulaziz Al Harbi, a senior vice president at Saudi Arabian Mining, will replace Al Ohali as acting CEO until... 

Glencore chair defends pay plan for commodity trader’s new CEO

By: Bloomberg     22nd April 2021 Glencore's chairperson defended an incentive plan for the commodity giant’s new chief executive officer, after prominent advisory firms urged investors to vote against it. Gary Nagle, the handpicked successor of outgoing CEO Ivan Glasenberg, will take over the helm of the world’s biggest... 

Gary Nagle
Gary Nagle

Anglo American lifts first-quarter output on strong copper, PGMs performance 

By: Donna Slater     22nd April 2021 Diversified miner Anglo American managed to meet strong customer demand during the quarter ended March 31, despite some limited constraints at certain operations as a result of Covid-19, CE Mark Cutifani says. He notes that production for the quarter was achieved at 95% of normal operating capacity. 

Anglo American CEO Mark Cutifani
Anglo American CEO Mark Cutifani

Platinum use in vehicle emissions control systems increasing as new regulations kick in – WPIC 

By: Simone Liedtke     21st April 2021 Automotive demand for platinum is expected to grow by 25% year-on-year to reach almost three-million ounces this year, the World Platinum Investment Council (WPIC) reports. The three-million-ounce demand forecast will be 5% higher than pre-pandemic levels. 

Gasoline three-way catalyst.
Photo by Johnson Matthey
Gasoline three-way catalyst.

Iron-ore stretches gains on global steel demand recovery

By: Reuters     19th April 2021 Iron-ore prices in Asia pushed higher on Monday as strengthening global steel demand buoyed sentiment, and as Chinese steel mills continued to ramp up output despite the government's scrutiny of their compliance with stricter anti-pollution rules. The most-traded September iron ore on China's... 

Gas is the new coal with risk of $100bn in stranded assets

By: Bloomberg     19th April 2021 Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell. Citigroup Inc. and JPMorgan Chase & Co. are among the... 

Fitch Solution foresees a turn for the better in mining spend, output, profit in 2021

By: Marleny Arnoldi     16th April 2021 Research agency Fitch Solutions expects production, capital expenditure (capex) and profitability in the mining industry to improve this year as commodity prices are soaring, while economies are recovering and vaccines are rolled out. The agency forecasts that major mining firms will raise their... 

Tirupati Graphite to raise £10m to fast-track development plan

By: Tasneem Bulbulia     16th April 2021 Specialist graphite producer Tirupati Graphite, with operations in Madagascar and India, has announced a placing with institutional and other investors of 11-million ordinary shares to raise an aggregate gross amount of £10-million. Certain directors of the company are subscribing for shares... 

Glencore makes further emissions, tailings commitments

By: Marleny Arnoldi     15th April 2021 Global diversified miner Glencore’s 2020 Sustainability Report, published on April 14, now incorporates information from both its standalone human rights report and the environmental, social and governance data books published in previous years. The company’s sustainability report includes a... 

Glencore sustainable development head Anna Krutikov
Glencore sustainable development head Anna Krutikov

Profound benefits for metals in store once US infrastructure plan passes

By: Marleny Arnoldi     15th April 2021 When US President Joe Biden announced a $2-trillion bill on March 31, becoming known as his infrastructure plan, it made commodity research company Fastmarkets, for one, excited about the opportunities it may hold for metals. The bill has been dubbed the American Jobs Plan, despite a political... 

US President Joe Biden announced the so-called American Jobs Plan at the end of last month.
US President Joe Biden announced the so-called American Jobs Plan at the end of last month.

Barberton should be focus of new gold thrust – exploration geologist  

By: Martin Creamer     14th April 2021 Barberton should be the prime target to get South African gold mining going again, with geologists having an input at all stages of development and mining cycle. “The main area that I think we should be concentrating on now is on Barberton. I think it has some exceptional geology,” said highly... 

Highly experienced exploration geologist Graham Gavine
Exploration geologist Graham Gavine interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.
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