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Middle East News
World's largest gold ETF is getting a cheaper little brother 
By: Bloomberg 14th June 2018 The price of gold is falling, at least for investors in exchange-traded funds. The World Gold Council is readying a new fund that will charge less than any other gold ETF, regulatory filings show. It will vie for assets with 35 other precious-metals exchange-traded products in the US, including... →
Illegal mining worth R7bn a year – PwC
By: Martin Creamer 14th June 2018 The value of illegal mining and dealing of metals and diamonds in South Africa is estimated to be more than R7-billion a year, says PwC. In its latest edition of SA Mine, the professional services firm equates this to revenue generated from 430 000 oz of gold at the current market price. →
Informal processing of sand from a depleted mine dump off the N3 South freeway, near Elandsfontein, in Germiston
US suggests need for broader conflict diamond definition, due diligence for responsible sourcing
By: Marleny Arnoldi 13th June 2018 The Kimberley Process (KP) intercessional, which will take place from June 18 to 22 in Antwerp, Belgium, will focus on proposed reforms in the certification system to help achieve ambitious goals in the global diamond industry. This year, the European Union is chairing the KP and India is serving... →
Mining companies combating malaria scourge – ICMM
By: Martin Creamer 13th June 2018 Mining companies are taking firm steps to help combat the scourge of malaria, which affects 3.3-billion people worldwide and kills a child every 30 seconds. International Council for Mining and Metals (ICMM) health, safety and product stewardship director John Atherton reports that: →
South Africa’s ‘Samcodes way’ a world-beater – Mullins
By: Martin Creamer 12th June 2018 South Africa has succeeded in creating a meticulous set of mineral reporting codes that continue to gain international recognition. The South African Mineral Reporting Codes (Samcodes), which protect investors, are currently so highly regarded that in October South Africa will host a large... →
Samcodes standards committee chairperson Matt Mullins (left) and Mining Weekly Online's Martin Creamer
Rio appoints replacement for Lynch
By: Esmarie Iannucci 12th June 2018 Mining major Rio Tinto has appointed Jakob Stausholm as CFO, succeeding Chris Lynch who will stand down from the board on September 3, and who will retire from Rio on September 30. Stausholm recently stepped down as group CFO of AP Moller-Maersk, and will join Rio as an executive director on... →
Beneficiation opportunities in zinc, fuel cells – Oliphant
By: Martin Creamer 11th June 2018 Deputy Minerals Minister Godfrey Oliphant is engaging with companies on local value-addition opportunities in zinc and platinum-catalysed fuel cells, and would like mining companies to make these and other locally mined commodities available at developmental prices to facilitate... →
Deputy Mineral Resources Minister Godfrey Oliphant (right) with Mining Weekly Online's Martin Creamer
Cobalt battery boom wavers as prices slide in top user China
By: Bloomberg 11th June 2018 Cobalt is facing its first major test since an impending demand boom from electric vehicles triggered a two-year surge, with prices retreating in top consumer China amid signs there’s still enough material to go around. The price for cobalt sulfate – the chemical form used in car batteries and... →
Coal rallies to six-year high as heatwave fires up China demand
By: Bloomberg 8th June 2018 The heat is on in the global coal market. Prices of Newcastle coal are at the highest level since 2012 after surging 24% since mid-April to $112.05 a metric ton on Thursday as China maintains robust demand during unseasonably hot weather. Despite measures imposed by the top user to cool soaring... →
Glencore faces new legal challenge against Congo cobalt mine
By: Bloomberg 8th June 2018 For Glencore in the Democratic Republic of Congo, problems don’t form an orderly queue: they pile up on top of each other. In the latest example of the commodity giant’s deteriorating relationships in the country, a convicted fraudster has resurrected a legal claim the company considered dead,... →
Lithium price may soften this year on ‘slight oversupply’ but EVs driving future optimism
By: Henry Lazenby 8th June 2018 The lithium price might be in for a rough ride this year, as a supply response might overshoot what the market actually needs, London-based pricing intelligence firm Metal Bulletin’s head of research William Adams tells Mining Weekly in an interview. “We see a slight lithium surplus coming this... →
No let up on calls for flow-through model to boost exploration
By: Martin Creamer 7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... →
JSE business development manager Patrycja Kula-Verster
World Diamond Council’s System of Warranties open for public review
By: Anine Kilian 7th June 2018 The World Diamond Council (WDC) System of Warranties (SoW) has entered a public review period following the completion of an industry review. The SoW review and reform process is part of the WDC’s strategic plan and is intended to help industry participants better implement and demonstrate their... →
Platinum price set for recovery this year – survey
By: Anine Kilian 7th June 2018 The platinum price is expected to exceed $1 000/oz in the second half of this year. “We expect the platinum price will start a recovery this year, albeit a gradual one. This is predicated on a small deficit this year, of nearly 300 000 oz, fuelled by a contraction in supply, chiefly from the... →
Battery metals industry dependent on ‘flavour of the month’
By: Simone Liedtke 6th June 2018 With nearly every forecast predicting higher battery use in the years ahead, especially lithium-ion batteries to power new and existing technologies, demand for its component metals may be dependent on what some title “the flavour of the month”. →
IDC senior project development manager Bertie Strydom
Current mining ‘boom’ very different to last one – CRU
By: Martin Creamer 6th June 2018 A return of capital expenditure (capex) and inorganic sources of growth are seen as a key corporate priority for 2018 and beyond, CRU Group senior consultant Aleksander Popovic said on Wednesday. The provider of marketing intelligence to mining told the Junior Indaba that the company’s... →
CRU Group senior consultant Aleksander Popovic
Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas 
By: Martin Creamer 5th June 2018 The government is partnering the State-owed Industrial Development Corporation (IDC) to establish a junior miners’ fund that will provide exploration investment capital to black-owned emerging miners; it is also investing R20-billion in the Council for Geoscience to boost exploration as well as... →
Top global miners’ profits to rise to $76bn in 2018
By: Esmarie Iannucci 5th June 2018 New data from advisory firm PwC has found that that the top global mining companies were reaching near boom profits, with net profits up 126% in the last year. Net profits for the top 40 mines reached $61-billion in 2017, and is forecast to climb further to $76-billion in 2018. →
Oil & gas, mining industries anxious about top brass succession planning
By: Henry Lazenby 31st May 2018 There is real anxiety in the oil and gas and mining industries regarding the lack of aptitude to replace an ageing top-level management talent pool, Stephen Diotte, partner and head of leadership services for Odgers Berndtson tells Mining Weekly Online. He recently joined the executive search... →
Sibanye-Stillwater shares rise on deleveraging plan
By: Martin Creamer 31st May 2018 The share price of Sibanye-Stillwater rose on Thursday on the news of a deleveraging plan that explicitly excludes debt and equity raising. Prospective deleveraging options include a streaming arrangement to raise $500-million and a process inventory financial arrangement to raise a further... →
Sibanye-Stillwater CEO Neal Froneman
Coal industry should ensure that it does not lower air quality to avoid silicosis repeat
By: Martin Creamer 30th May 2018 South Africa’s coal industry should ensure that it does not lower air quality to avoid ending up in the same litigious space as the gold mining sector with silicosis. Earlier this month, a class action settlement was reached with thousands of mineworkers suffering from silicosis and/or... →
Matleng chairperson Nelisiwe Magubane
S&P’s raises Glencore’s long-term issuer credit rating to BBB+
By: Marleny Arnoldi 30th May 2018 Ratings agency Standard & Poor’s (S&P’s) has raised its long-term issuer credit rating on global diversified miner Glencore and its related entities to ‘BBB+’ from ‘BBB’, with a stable outlook. →
Electric vehicles could increase to 220m in 2030 – IEA
By: Marleny Arnoldi 30th May 2018 The International Energy Agency’s (IEA’s) ‘Global Electric Vehicles Outlook’ has found that the number of electric and plug-in hybrid cars on the world’s roads exceeded three-million in 2017, which is a 54% increase compared with 2016. →
De Beers launches lab-grown diamond company Lightbox Jewellery in US
By: Marleny Arnoldi 29th May 2018 Diamond miner De Beers has launched a new company called Lightbox Jewellery that will begin marketing a new brand of laboratory-grown diamond jewellery designs at lower prices than existing lab-grown diamond offerings. →
Summer doldrums could see lower lows for gold as upside headwinds mount
By: Henry Lazenby 26th May 2018 Gold bug Mickey Fulp does not expect the gold price to break out this year, bar any substantial geopolitical event that upsets the state of the global economy. During a recent mining conference held in Vancouver, the ‘Mercenary Geologist’ told Mining Weekly Online that he expects gold to test new... →
D1 Mint buys 1 500 investment-grade diamonds for new diamond-backed crypto coin
By: Henry Lazenby 25th May 2018 The emergence of blockchain technology is helping to turn diamonds into a new investment asset class that, in turn, could drive future demand for natural diamonds, the creator of a new diamond-backed crypto coin said on Friday. Singapore-based D1 Mint, the creator of the diamond-backed D1 Coin,... →
Electric vehicles seen driving cobalt crunch by mid-2020s
By: Reuters 25th May 2018 The increasing popularity of electric vehicles may create a crunch for supplies of cobalt in the early-to-mid 2020s, miners and analysts say, adding that small operators trying to start up mines outside Africa could play a bigger role over time in satisfying demand for the metal used in... →
Only one-third of the 15 largest copper producers reported positive production trends – S&P Global
By: Henry Lazenby 25th May 2018 Only about one-third of the 15 largest copper producers with output of more than 40 000 t of copper per quarter reported positive production trends during the first quarter of this year, driving quarter-on-quarter output 4.8% or 136 548 t lower, a new report by S&P Global has found. However, on... →
Global copper surplus falls 12.8% to 110 000 t
By: Henry Lazenby 24th May 2018 The global refined copper balance for the first two months of this year indicates a surplus of about 110 000 t, a 12.8% drop year-on-year, the International Copper Study Group has found. The Lisbon, Portugal-based think tank said apparent refined demand increased 3.9% year-on-year to 3.77-million... →
Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky
By: Henry Lazenby 24th May 2018 Absent any significant global economic disturbances disrupting consumer diamond demand, incremental year-on-year diamond production declines are forecast to drive real diamond prices up by about 10% cumulatively from 2018 through 2021, or 17% in nominal terms, a new report by independent analyst... →
Cobalt streaming may presage bigger deals as Vale weighs options
By: Bloomberg 23rd May 2018 A streaming deal for cobalt and nickel from a mine in Papua New Guinea may foreshadow other similar arrangements as producers look to capitalise on the battery-commodity boom to raise cash for investments. On Tuesday, Cobalt 27 Capital – a Toronto-listed vehicle designed to invest in the metal –... →
Forevermark appeals to Millennials with new flagship store in China
By: Marleny Arnoldi 23rd May 2018 De Beers Groups’ Forevermark brand has launched Libert’aime by Forevermark – a new flagship store in Shanghai, China. →
Alara gets mining licence in Oman
By: Esmarie Iannucci 22nd May 2018 Metals developer Alara Resources has been granted a mining licence for its Al Hadeetha copper project, in Oman. CEO Justin Richard said on Tuesday that the granting of a mining licence was a major milestone for the copper project, and for future development of the copper sector in Oman. →
Kropz clinches offtake from phosphates project
By: Martin Creamer 21st May 2018 Plant nutrient minerals development company Kropz, which is developing the Elandfontein phosphates mining and processing project in the Western Cape, has secured several offtake agreements ahead of production. The cornerstone offtake agreement, for about a third of its production at market prices... →
Kropz CEO Ian Harebottle
Threat of cobalt supply shock is top risk for electric vehicles
By: Bloomberg 21st May 2018 A burgeoning risk of a supply crunch in cobalt – a key battery metal that’s more than tripled in price in two years – poses one of the biggest threats to forecasts for rising electric vehicle adoption. Major investment in mines is required to avoid price spikes that could see cost reductions for... →
Search on for 2018’s most inspirational women in mining
By: Creamer Media Reporter 21st May 2018 Nominations for this year’s inspirational women in mining have opened. Women in Mining UK’s third edition of ‘Top 100 Global Inspirational Women in Mining’ will showcase the contribution of women in the global mining industry and will seek to debunk a misconception that there is not a pipeline... →
Vale boss prefers giving away windfall to avoid sins of the past
By: Bloomberg 21st May 2018 Vale, once the most generous dividend payer among major mining companies, may be poised to regain that status with its chief executive officer nearing debt targets and unwilling to hoard cash or rush into deals. Like others in the industry, the biggest producer of iron ore and nickel cut... →
Glencore said to face UK bribery probe over Congo dealings
By: Bloomberg 18th May 2018 The UK’s white-collar crime prosecutor is preparing to open a formal bribery investigation into Glencore and its work with Israeli billionaire Dan Gertler and the leader of Democratic Republic of Congo (DRC), according to two people with knowledge of the matter. Investigators at the Serious Fraud... →
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