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Middle East News

Mpumalanga just transition being investigated by Ubuntu-hearted solar masterminds  

By: Martin Creamer     1st February 2022 An organisation which is providing un-electrified informal settlements with clean, green solar power in the Western Cape – in Ubuntu-hearted fashion – has begun to investigate just energy transition opportunities in Mpumalanga, where South Africa’s coal-mining and coal-fired power is facing... 

The squeeze in the nickel market is getting worse

By: Bloomberg     1st February 2022 The nickel market is showing more signs of stress. Stockpiles held by the London Metal Exchange extended their decline on Tuesday, with the last increase coming in October. Buyers are paying a massive premium for immediately deliverable futures. The key cash three-month spread, which briefly... 

Gold back above $1 800-mark on firmer investment demand

By: Reuters     1st February 2022 Gold prices firmed above the key $1 800-level on Tuesday as investment demand strengthened, with a weak US dollar and Treasury yields offering further support. Spot gold rose 0.6% to $1 806.32 per ounce by 10:38 GMT. US gold futures climbed 0.6% to $1 807.40. 

Infinity Logistics to buy Glencore's warehousing operation for $177m

By: Reuters     1st February 2022 Infinity Logistics and Transport Ventures has agreed to buy Glencore's warehousing and logistics business Access World for $176.7-million, it said on Monday in a regulatory statement. Switzerland-based Access World handles about 20-million tonnes of commodity products a year, including oil and... 

South Africa needs to embrace Ubuntu principles in going green, webinar hears 

By: Martin Creamer     31st January 2022 In decarbonising and going green, South Africa needs to embrace the principles of Ubuntu and show humanity towards others. That view was expressed by Gold Fields South Africa executive VP Martin Preece during the 'Decarbonisation & Going Green in the Mining Sector' webinar hosted by Creamer Media... 

Screenshot by Creamer Media
Photo by Creamer Media
From top left, clockwise, are Abel Sakhau, Martin Preece, Jevon Martin, Nikisi Lesufi and James Mackay.

Gold set for worst month since September on Fed rate-hike prospects

By: Reuters     31st January 2022 Gold prices fell on Monday and were set for the biggest monthly drop since September as markets anticipated higher US interest rates, while a stronger dollar added to the pressure. Spot gold was down 0.1% at $1 790.00 per ounce by 08:40 GMT, taking its monthly drop to more than 2%. US gold... 

Gold demand hits highest level in more than two years, council says  

By: Tasneem Bulbulia     28th January 2022 Market development organisation the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ report shows that yearly demand, excluding over-the-counter markets, has recovered many of the Covid-19-induced losses from 2020 to reach 4 021 t for the 2021 full-year. Demand for gold reached 1 147 t in... 

An image showing a gold bar
Photo by Bloomberg
Gold bar

Global coal prices surge as Ukraine tensions worsen supply woes

By: Reuters     28th January 2022 Global coal prices have shot back towards record highs as the Ukraine crisis raises expectations that European buyers will start loading up on the fossil fuel for fear that a standoff between Russia and western nations will cut off gas supplies. The benchmark Newcastle coal index has soared by... 

Switch to platinum by automakers will weigh on palladium prices

By: Reuters     28th January 2022 Platinum prices are expected to steadily rise over the next two years and palladium prices to gradually fall as automakers switch to using platinum in autocatalysts to cut costs, a Reuters survey Thursday showed. Both metals are used in engine exhausts, where they neutralise harmful emissions.... 

Speed up solar, wind and storage developments – Easton   

By: Martin Creamer     27th January 2022 A speeded up solar, wind and storage (SWS) approach is needed to advance South Africa’s decarbonised energy situation and take the country into a cleaner, greener future. Also, steps need to be taken to allow the delayed Tubatse pumped storage scheme to go ahead as an independent power producer... 

Picture supplied
Retired civil engineering construction cost consultant David Easton interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Anglo increases copper guidance for 2022 as Peru mine comes online

By: Marleny Arnoldi     27th January 2022 Global miner Anglo American says its production for the fourth quarter of 2021 was flat compared with output in the fourth quarter of 2020. CEO Mark Cutifani noted on January 27 that operating levels across the group had been at about 95% of normal capacity throughout 2021 as a result of... 

Anglo CEO Mark Cutifani
Anglo CEO Mark Cutifani

Politics are turning against copper miners, Freeport-McMoRan says

By: Bloomberg     27th January 2022 The task of ramping up copper supply to meet growing demand in the clean-energy transition is getting harder as societies and communities resist new mines and politicians seek a bigger share of the profit, said Freeport-McMoRan boss Richard Adkerson. While the outlook for copper is getting... 

An image of Freeport CEO Richard Adkerson
Freeport CEO Richard Adkerson

Palladium soars as Russia tension sparks investor rush for metal

By: Bloomberg     27th January 2022 Palladium soared to the highest in four months, with traders looking to secure supplies amid growing tensions over Ukraine as Russia, the top metal producer, amassed troops near the border. The metal that’s mostly used in catalytic converters rose as much 8.3% on Wednesday, extending this year’s... 

Hydrogen roadmap targeting societal well-being, North West conference told  

By: Martin Creamer     26th January 2022 In terms of high-level outcomes, the vision of South Africa’s Hydrogen Society Roadmap is to create an inclusive, sustainable and competitive hydrogen economy to support net-zero carbon economic growth and societal well-being, Department of Science and Innovation (DSI) chief director hydrogen and... 

Creamer Media screenshot
North West Mining and Energy Conference covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Gold wobbles as investors brace for Fed rate hike

By: Reuters     26th January 2022 Gold prices held near 10-week highs on Wednesday as investors sought the safety of bullion amid the Ukraine-Russia crisis, with a strength in US dollar weighing on the metal ahead of an imminent rate hike by the U.S. Federal Reserve. Spot gold was down 0.1% at $1 846.13 per ounce by 10:30 GMT,... 

Gold wobbles as investors brace for Fed rate hike

South Africa's RBCT exports lowest coal tonnage since 1996  

By: Martin Creamer     25th January 2022 The Richards Bay Coal Terminal (RBCT) last year exported its lowest volume of coal since 1996. In exporting 58.72-million tons of coal, RBCT was 11-milion tons down on what it achieved in 2020 and 18-million tons down on its 77-million-ton budget for the 2021 year. 

Creamer Media screenshot.
Richards Bay Coal Terminal media brief covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

These investors are sticking with gold despite easy money ending

By: Bloomberg     25th January 2022 The end of an easy-money era should normally spell bad news for gold. But right now, fund managers are keeping their holdings. At a time when equities and Bitcoin -- often touted as digital gold -- are sinking as loose monetary policy draws to a close, bullion exchange-traded fund holdings are... 

CoE to vote against mining company chairs over dam safety

By: Reuters     25th January 2022 The Church of England (CoE) Pensions Board said on Tuesday it planned to vote against the re-election of company chairs of 183 mining companies unless they sign up to a new global standard on managing mine waste. Created by a 100-strong group of investors representing $20-trillion in assets in... 

Many seeing platinum as hard asset, potential inflation hedge – WPIC  

By: Martin Creamer     24th January 2022 There are a lot more people looking at platinum as a hard asset and potential hedge against inflation, World Platinum Investment Council director of research Trevor Raymond said on Monday. Responding to Mining Weekly’s questions on what has been driving the platinum up over the last two weeks,... 

Picture supplied
WPIC Director of Research Trevor Raymond interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

There’s a buying frenzy in cheap and tiny diamonds

By: Bloomberg     23rd January 2022 A surge in diamond demand that began in the early Covid lockdowns is showing no sign of easing, and now even the cheapest, smallest stones are getting caught up in a buying frenzy. Low-end diamonds — the sort that you might find in jewellery displayed in a local WalMart — has been a tough... 

A photo of diamond sorting

Sam Molefi clinches promising contract for his impressive mining business  

By: Martin Creamer     21st January 2022 Modi Mining is a 100% black South African-owned company founded and owned by mining engineer and entrepreneur Samuel Molefi and entrepreneur Christina Motlapele Molefi. The company was established with the sole objective of rendering differentiated contract mining services and to be a supplier of... 

Picture supplied
Modi Mining MD Sam Molefi interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Large and rare black diamond on auction

By: Marleny Arnoldi     20th January 2022 The government of Dubai on January 18 hosted an exclusive public viewing of an extremely rare black diamond called “The Enigma” at the Dubai Diamond Exchange. The diamond has never before been exhibited.  

The Enigma 555.5 ct black carbonado diamond
The Enigma 555.5 ct black carbonado diamond

Metals rally heats up as nickel hits $24 000 on supply snarls

By: Bloomberg     20th January 2022 Base metals are heating up yet again, with nickel reaching $24 000 a ton for the first time in more than a decade and tin notching up a fresh record on supply snarls and China’s monetary easing. Metals supplies are dwindling amid the global recovery from the pandemic with all the main London... 

Early copper/zinc production investigations under way at Orion’s Prieska  

By: Martin Creamer     20th January 2022 The executive team of Orion Minerals is re-evaluating the development schedule of the Prieska copper-zinc project to assess the potential for its fast-tracking. Also flagged is the opportunity to extract pillars left by historic mining. 

Creamer Media picture
Orion CEO Errol Smart interviewed by Mining Weekly’s Martin Creamer. Video Editing: Darlene Creamer

BHP adjusts copper and coal expectations

By: Esmarie Iannucci     19th January 2022 Diversified major BHP has adjusted its full year outlook for metallurgical coal and copper productions as tough conditions continued. The miner on Wednesday reported that full year copper production was trending towards the low end of the guidance range of between 1.59-million and 1.76-million... 

BHP CEO Mike Henry
BHP CEO Mike Henry

BHP revives appetite for deals with biggest rivals in sights

By: Bloomberg     18th January 2022 After sitting dormant for more than a decade, BHP Group -- once mining’s most aggressive dealmaker -- is positioning itself for a return to large-scale M&A. BHP has expanded its dealmaking team, including in London, and is interested in pursuing a transformational deal, according to people... 

Hillside Aluminium could get green $0.03c/kWh lifeline by 2030 – Mallinson  

By: Martin Creamer     18th January 2022 It’s all about South Africa focusing attention on the generation and storage of its wonderful African sunshine and prime African wind. It’s all about going hammer and tongs for these three letters, SWS, which stand for solar, wind and storage ­– and eight hours of storage is all we need, which is... 

Picture provided from Creamer Media's Canto picture library
Energy consultant Clyde Mallinson interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Capital Drilling says 2021 was its strongest financial year yet

By: Tasneem Bulbulia     18th January 2022 LSE-listed mining services company Capital Drilling recorded its strongest financial year yet in 2021, with three quarters of revenue growth, executive chairperson Jamie Boynton says. He highlights that 2021 was a “transformational” year for Capital, driven in part by a surge in market activity... 

Early income bonanza for funded Witwatersrand gold mining reviver  

By: Martin Creamer     17th January 2022 West Wits Mining, the Australia-listed Witwatersrand gold reviver that is advancing fast on an initial A$9.5-million capital raise, is the beneficiary of an unexpected gold find that will result in income being generated considerably sooner than expected. From next month, West Wits Mining, headed... 

Picture supplied
West Wits MD Jac van Heerden interviewed by Mining Weekly's Martin Creamer. Video and Video Editing: Darlene Creamer

Hydrogen economy can support new manufacturing, energy security for developing economies

By: Schalk Burger     17th January 2022 Green hydrogen could disrupt global trade and bilateral energy relations, reshaping the positioning of States, with new hydrogen exporters and users emerging, says renewable energy intergovernmental organisation the International Renewable Energy Agency (Irena). “It is green hydrogen that will... 

Gold steady as investors weigh policy outlook, omicron concerns

By: Bloomberg     17th January 2022 Gold was steady as investors weighed the outlook for tighter monetary policy and the threat of the omicron virus variant to the global economic recovery. Billionaire investor Bill Ackman said the Federal Reserve is losing its battle against inflation and should raise its key interest rate by a... 

Gold steady as investors weigh policy outlook, omicron concerns

Potentially game-changing hydrogen fuel cell technology attracts funding  

By: Martin Creamer     13th January 2022 Hydrogen fuel cells are increasingly being viewed as an attractive technology to decarbonise large parts of industry, particularly heavy-duty transport. Two key barriers to more widespread adoption of fuel cells are the costs and production scale of fuel cell systems. 

Creamer Media picture
Photo by Creamer Media
AP Ventures managing partner Andrew Hinkly

Gold poised to experience both positive, negative pull in 2022  

By: Marleny Arnoldi     13th January 2022 The World Gold Council (WGC) highlights in its latest outlook for gold that the precious metal may well face similar dynamics to those of last year as competing forces both support and curtail its performance. The gold price will likely react to tightened monetary policy this year, as a result... 

Gold arranged in US dollar shape

Thyssenkrupp to keep control in $5.7bn hydrogen IPO

By: Bloomberg     13th January 2022 Thyssenkrupp plans to hold a majority stake in its rebranded electrolysis unit after its initial public offering to tap into the growing market for green hydrogen to fight climate change. The engineering conglomerate is preparing to list its electrolysis plant business this year, renaming it... 

Thyssenkrupp's logo

Plan for decades of high commodity prices, BlackRock says

By: Bloomberg     13th January 2022 Commodities prices may stay high for decades as mining companies struggle to keep up with demand from the energy transition, according to BlackRock’s Evy Hambro. Raw materials, and shares of some companies that produce them, hit record highs last year as massive global stimulus measures... 

Copper market facing shortages, says Bristow

By: Bloomberg     12th January 2022 “Copper is such a strategic metal” and it “without a doubt” faces supply challenges in the coming years, Barrick Gold CEO Mark Bristow said at a mining conference in Saudi Arabia. There’s been too little investment in the red metal and that’s already a problem for the sector as consumption... 

Nickel storms to 10-year peak on worries about supplies

By: Reuters     12th January 2022 Nickel prices surged to their highest in a decade on Wednesday as investors bet automakers will have to scramble to secure supplies for their electric vehicle batteries as inventories dwindle. Nickel was the top performer among industrial metals, which also rallied as worries eased about... 

Nickel storms to 10-year peak on worries about supplies

Gold ETFs finish 2021 with outflows, still outperform pre-pandemic levels 

By: Marleny Arnoldi     12th January 2022 Gold exchange-traded funds (ETFs) experienced outflows of 173 t, or $9.1-billion, in 2021, driven by North American funds whose assets fluctuated in tandem with the gold price. Collective gold holdings were down 5% year-on-year to 3 570 t for the year, while assets under management in value... 

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