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Middle East News

Sanctions fallout upends metals as aluminum, nickel burst higher

By: Bloomberg     19th April 2018 The turmoil unleashed by US sanctions against United Co. Rusal reverberated in metals markets, sending aluminium and nickel to multi-year highs. Global metals markets have been rocked for the past two weeks by the clampdown on Russia’s Rusal, which set off a rush for alternative supplies and... 

South32 hikes manganese guidance, lowers coal forecast

By: Esmarie Iannucci     19th April 2018 Diversified miner South32 has increased its manganese production guidance from its Australia and South African operations to take advantage of farourable market conditions. The company increased its production guidance at the Australia manganese operations by 6% to 3.30-million tonnes and its... 

South32 CEO Graham Kerr
Photo by Bloomberg
South32 CEO Graham Kerr

BHP cuts guidance at Olympic Dam and Pilbara iron-ore ops

By: Esmarie Iannucci     19th April 2018 Mining giant BHP has reduced its full-year production expectations for its Pilbara iron-ore operations, as well as the Olympic Dam mine, in South Australia. The miner on Thursday reported a 6% drop in iron-ore production during the three months to March, compared with the previous quarter,... 

BHP cuts guidance at Olympic Dam and Pilbara iron-ore ops

Rio Tinto lifts iron, bauxite and copper output, warns sanctions could impact aluminium

By: Esmarie Iannucci     18th April 2018 Diversified giant Rio Tinto has reported production increases at its iron-ore, bauxite and copper divisions, while warning shareholders that US sanctions against Russian companies could impact aluminium production in 2018. “We delivered a solid operational performance across most commodities in... 

Rio CEO Jean Sebastian Jacuqes
Photo by Bloomberg
Rio CEO Jean Sebastian Jacuqes

Rio Tinto flags changes to 2018 aluminium output after US sanctions

By: Reuters     18th April 2018 Global miner Rio Tinto on Wednesday flagged possible changes to its 2018 aluminium output following US sanctions on its Russian partner Rusal earlier this month. Rio, which reported a 5% rise in first-quarter iron ore shipments in the March quarter, has declared force majeure on some customer... 

Rio Tinto flags changes to 2018 aluminium output after US sanctions

Vale achieves best-ever quarterly sales in Q1, despite slide in iron output

By: Henry Lazenby     17th April 2018 Brazilian diversified miner Vale has reported its best first-quarter iron-ore sales ever despite production of the iron-making ingredient slipping somewhat during the three-month period. The company reported that output during the quarter ended March 31 slipped 4.9% year-on-year to 81.95-million... 

Vale's massive new SD11 mine, in Brazil
Photo by Vale
Vale's massive new SD11 mine, in Brazil

Glencore releases all-embracing 117-page sustainability report

By: Martin Creamer     16th April 2018 One of the strategic priorities of diversified mining and marketing company Glencore is to invest in community initiatives that deliver sustainable socioeconomic benefits, the London- and Johannesburg-listed company states in today’s 117-page Sustainability Report 2017, which emphasises the... 

Glencore's Anna Krutikov
Glencore's Anna Krutikov

Rio to call force majeure on some Rusal-linked contracts

By: Reuters     14th April 2018 Rio Tinto said it will declare force majeure on certain customer contracts after the US imposed sanctions on its partner Russian aluminium producer Rusal. The mining group said on Friday it was working with its customers to minimise disruptions to supply and would fully comply with US sanctions. 

BMI raises 2018 aluminium price forecast on Chinese supply constraints

By: Marleny Arnoldi     13th April 2018 The aluminium price is forecast to strengthen this year, as the demand outlook continues to improve and prices are kept elevated owing to the expectations of Chinese supply constraints, says Fitch Group-affiliated BMI Research.  

Goldman Sachs says you must own commodities in these tense times

By: Bloomberg     13th April 2018 The case for owning commodities has rarely been stronger, according to Goldman Sachs Group. With raw materials rallying on escalating political tensions across the globe and economic growth remaining strong, the bank’s analysts including Jeffrey Currie doubled down on their “overweight”... 

Savannah to incentivise senior management as it expedites mining projects

By: Marleny Arnoldi     13th April 2018 Aim-listed resource development company Savannah Resources has implemented a long-term incentive plan (LTIP) to incentivise executive directors and certain senior management as the company continues to expedite its projects to tap into the growing market for energy metals.  

Aluminium set for best week in three decades as supply woes mount

By: Bloomberg     13th April 2018 Aluminium prices are heading for the best week in at least three decades as US sanctions on Russian producer United Co. Rusal send buyers scrambling to find supplies. Prices of the metal climbed to the highest since 2012 Thursday, helping push this week’s gain to almost 14%, the most in... 

Aluminium set for best week in three decades as supply woes mount

Global silver output falls 4.1% in 2017, as industrial demand ramps up – GFMS

By: Henry Lazenby     12th April 2018 A new survey by the GFMS team at Thomson Reuters has found that global silver output had fallen 4.1% in 2017 to 852.1-million ounces. Prepared by GFMS, the report found that total physical demand of 1.02-billion ounces was 25% lower year-on-year, signalling that the tightening of the... 

Workers pour molten silver into moulds
Photo by Reuters
Workers pour molten silver into moulds

Glencore is losing billionaire allies to Trump's sanctions

By: Bloomberg     12th April 2018 The reach and power of US sanctions are hemming in the world’s largest commodity trader. In just four months, Glencore chief Ivan Glasenberg has lost two of his closest business allies as President Donald Trump’s aggressive foreign policy hits home, forcing him to cut ties with billionaires Oleg... 

Fuel cell dozer expected to make game-changing 2019 debut

By: Martin Creamer     12th April 2018 A fuel cell dozer that runs on hydrogen carried in liquid is expected to make a game-changing debut underground next year, Anglo American Platinum (Amplats) CEO Chris Griffith said last night. Speaking at the fortieth African Mining Network dinner, Griffith said third generation development had... 

Anglo American Platinum CEO Chris Griffith
Photo by Creamer Media
Anglo American Platinum CEO Chris Griffith

Impact, Consensas partner to develop solutions to ensure conflict-free mineral sourcing

By: Marleny Arnoldi     12th April 2018 Natural resources management company Impact and technology company Consensas have partnered to create solutions to enable companies to confidently source minerals from conflict-prone and high-risk areas, while compensating women and men in local artisanal mining communities for supply chain... 

Lava in lab studies could lead miners to new iron-ore deposits

By: Marleny Arnoldi     12th April 2018 A study on iron-ore deposits has found that some magmas split into two separate liquids – one of which is rich in iron – and could lead to the discovery of new iron-ore deposits.  

Researchers placed a mixture of iron-ore samples and typical lavas surrounding Kiruna-type deposits, creating a bulk magma composition
Photo by Lennart A. Fischer
Researchers placed a mixture of iron-ore samples and typical lavas surrounding Kiruna-type deposits, creating a bulk magma composition

Rio Tinto’s Thompson deals with misconduct allegations at AGM

By: Esmarie Iannucci     12th April 2018 Mining major Rio Tinto has again denied allegations of withholding information from shareholders regarding its Mozambican coal assets, with chairperson Simon Thompson saying that the company would “vigorously” defend itself against these allegations. The UK’s Financial Conduct Authority (FCA)... 

Rio Tinto’s Thompson deals with misconduct allegations at AGM

Aurubis eyes smelting deals with miners in Americas, Australia

By: Reuters     12th April 2018 Aurubis, Europe's biggest copper smelter, is in talks with miners in South America, the US and Australia to set up smelting partnerships, as it pushes ahead with ambitious growth plans, its CEO told Reuters. Armed with a war chest of at least $1.5-billion for potential acquisitions, CEO Juergen... 

Aluminium gets Iran-style crisis as Rusal shut out of market

By: Bloomberg     12th April 2018 The aluminium market is having its own Iran oil moment. Similar to how US and European sanctions in 2012 cut Iran’s oil sales to the world, last week’s American penalties on United Co Rusal look set to freeze the Russian company’s aluminium out of western markets. The reaction has already been... 

LG Chem cobalt deal sets tone for battery cathode market

By: Henry Lazenby     12th April 2018 A new deal by Korean battery manufacturer LG Chem and China’s Huayou Cobalt is expected to set the tone for the lithium-ion battery cathode market. The two partners have announced a significant deal worth about $440-million to build a 40 000 t/y lithium-ion battery precursor materials plant and a... 

LG Chem cobalt deal sets tone for battery cathode market

Policy documents, commitments often not matched by company action – index

By: Marleny Arnoldi     11th April 2018 A range of mining companies are demonstrating responsible practices with regard to various issues, the ‘Responsible Mining Index (RMI) 2018’ reveals.  

LME to suspend Rusal's aluminium from approved brand list

By: Reuters     11th April 2018 The London Metal Exchange will suspend Rusal's aluminium from its list of approved brands from April 17 after some members raised concerns about settling LME contracts with sanctioned companies, the exchange's chief executive told Reuters. Last week the US Treasury Department imposed sanctions... 

Rio Tinto becomes first aluminium producer certified under new sustainability benchmark

By: Henry Lazenby     11th April 2018 Mining giant Rio Tinto has become the first company in the world to be certified under the Aluminium Stewardship Initiative (ASI) – a new benchmark for healthy environmental, social and governance practices across the aluminium lifecycle of production, use and recycling, the company announced on... 

PGMs industry sees crisis, Mantashe sees new dawn

By: Marleny Arnoldi     10th April 2018 Mineral Resources Minister Gwede Mantashe on Tuesday described the mining industry as one that is in self-doubt, believing that it is about to die, where suspicion and mistrust is at a high level. “I fail to understand why platinum is in a crisis,” he said, adding that mining stakeholders need to... 

Gwede Mantashe
Photo by Wynand van der Merwe
Gwede Mantashe

Vanadium batteries need 'Elon Musk moment' to kick-start market

By: Bloomberg     10th April 2018 Vanadium needs Elon Musk or another big player in the global battery market to get behind the metal in order to share centre stage with other energy-storage components such as lithium and cobalt. “When we get that moment, we’re off to the races,” Vincent Algar, MD of Australian Vanadium, said in... 

Lithium glut fears tempered by optimism over surging demand

By: Reuters     9th April 2018 Warnings of a lithium glut may be premature. For one thing, doomsayers assume all the lithium in brine or hard rock deposits will get processed, but that’s not the case, said Jay Roberge, partner and managing director at Tehama Capital Corporation, a Vancouver-based merchant bank. 

Stronger gold price lifts global ETF inflows – WGC

By: Henry Lazenby     6th April 2018 Global gold-backed exchange-traded funds (ETFs) added 22.5 t of gold during March, increasing their holdings to 2 415 t valued at $102.8-billion, data provided by the World Gold Council (WGC) on Thursday shows. While the price of gold finished the month relatively flat $1 325/oz, a significant... 

Stronger gold price lifts global ETF inflows – WGC

South African court backs 'once empowered, always empowered' principle

By: Reuters     4th April 2018 The South African High Court ruled in favour of the 'once empowered, always empowered' principle on Wednesday which entitles a company to keep its black empowerment status even if a black partner exits its stake in the mining firm. Uncertainty around the Mining Charter and ownership levels have... 

South African court backs 'once empowered, always empowered' principle

Metals Focus sees gold climbing to $1 450/oz this year

By: Simone Liedtke     4th April 2018 Although facing a number of challenges, global market conditions are expected to become positive for gold this year, with the precious metal potentially testing  $1 450/oz before the end of 2018, consultancy Metals Focus says in its latest gold market report. The ‘Gold Focus 2018’ report, which... 

Metals Focus sees gold climbing to $1 450/oz this year

Quest for cheaper batteries lures money from Russian billionaire

By: Bloomberg     4th April 2018 Russian billionaire Oleg Deripaska is investing in research into next-generation batteries to replace the lithium-ion units that are currently used in phones and cars, and to store power from solar plants. The tycoon’s En+ Group, which owns power plants and the largest aluminum maker outside... 

Oleg Deripaska
Oleg Deripaska

Gold heading to $1 400/oz as Sprott sees 'winnerless' trade war

By: Bloomberg     3rd April 2018 Gold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, CEO of Sprott US Holdings, who’s been involved in the market for four decades. Bullion could top $1 400/oz in 2018 as escalating trade tensions drive investors to havens and the... 

Gold heading to $1 400/oz as Sprott sees 'winnerless' trade war

Vedanta wins bid to buy bankrupt Electrosteel Steels

By: Reuters     2nd April 2018 Vedanta, the Indian unit of diversified mining group Vedanta Resources, said on Saturday it had won in an auction to acquire bankrupt Electrosteel Steels. The transaction, financial details of which were not disclosed, is part of India's new bankruptcy law, which is aimed at cutting close to... 

Gold forges best run since 2011 as stars align for bullion bulls

By: Bloomberg     30th March 2018 Gold bulls are finding 2018 offers plenty of reasons to be cheerful. Bullion’s wrapping up a third quarterly gain, a feat not seen since 2011, and exchange-traded fund holdings are near the highest in a half-decade. Haven demand may also get a boost with foreign-policy hawks in the ascendant in... 

Gold forges best run since 2011 as stars align for bullion bulls

Zinc output climbs, but uncertainty disrupts processing talks

By: Reuters     29th March 2018 Surging zinc mine output will eventually lift annual charges for treating concentrates, but uncertain timing has led to a stand-off in talks between mines and smelters. No deal has been achieved yet over benchmark processing terms – fees miners pay smelters to turn concentrate into metal – after... 

Gold forges best run since 2011 as stars align for bullion bulls

By: Bloomberg     29th March 2018 Gold bulls are finding 2018 offers plenty of reasons to be cheerful. Bullion’s wrapping up a third quarterly gain, a feat not seen since 2011; fund holdings are at the highest in a half-decade; and haven demand may get a boost with foreign-policy hawks in the ascendant in Washington. 

Global gold investment seen rising for 5th year in 2018 – CPM

By: Reuters     28th March 2018 Bullion investors, miners and makers of coins will help drive the fifth straight annual increase in total global gold investment in 2018, CPM Group said in its Gold Yearbook 2018 on Tuesday, citing geopolitical tensions and fears that the bubbling US economic expansion will end in a 2019... 

Global gold investment seen rising for 5th year in 2018 – CPM

Trump's trade war is derailing copper rally that he kickstarted

By: Bloomberg     27th March 2018 President Donald Trump’s pro-business agenda helped start the copper rally, and now he is upending it with protectionist trade policies that threaten to derail a boom in the world’s economies. Copper prices are poised for their first quarterly drop since before Trump’s shock election victory... 

Trump's trade war is derailing copper rally that he kickstarted
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