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Middle East News

Kropz eyeing dual listing

By: Martin Creamer     4th July 2018 Emerging plant nutrient producer Kropz is eyeing a dual listing on the Johannesburg Securities Exchange in addition to seeking admission to trade on the Aim in London, where it intends raising equity capital to fund the completion of its advanced-stage phosphates project in South Africa, cut debt... 

Kropz to list on London’s Aim to fund South African project

By: Martin Creamer     2nd July 2018 Emerging plant nutrient producer Kropz will seek admission to trade on the Aim in London, where it intends raising the funds required to complete the upgrading and commissioning of its advanced-stage phosphate project in South Africa, as well as cut debt and develop a wider African asset base.... 

Kropz CEO Ian Harebottle
Photo by Creamer Media
Kropz CEO Ian Harebottle

Commodities face a twin threat, Morgan Stanley says

By: Bloomberg     29th June 2018 Commodities face a twin threat in the coming months, according to Morgan Stanley, which flagged burgeoning risks to consumption from a potential escalation in global trade tensions, especially for metals, as well as any slowdown in China. “Escalating global trade tensions bring a risk of demand... 

BHP commits $211m to Brazil’s Renova Foundation, Samarco

By: Esmarie Iannucci     29th June 2018 Mining major BHP on Friday said that it would contribute a total of $211-million to the Renova Foundation and its joint venture with Brazilian major Vale, Samarco, until the end of December this year. The miner said that $158-million of the funds would go towards the Renova Foundation to... 

Gold hits over six-month low as dollar strengthens

By: Reuters     28th June 2018 Gold prices hit their lowest in more than six months on Thursday as the greenback held near one-year highs amid mounting US-China trade friction. Spot gold was down 0.2% at $1 249.71/oz, as of 0752 GMT. Earlier in the session, the bullion touched $1 248.25, its lowest since mid-December. 

Alara expects more revenue from Oman

By: Esmarie Iannucci     28th June 2018 ASX-listed Alara Resources has updated the economics of its Al Hadeetha copper project, in Oman, which resulted in higher forecast revenues and earnings before interest, taxes, depreciation and amortisation (Ebitda), but also an increase in preproduction capital costs. Alara on Thursday said... 

‘Standout’ Glencore is ‘top pick’

By: Martin Creamer     27th June 2018 In a 150-page analysis of four of the world’s biggest diversified mining majors, Glencore has emerged as the top pick of financial services company Credit Suisse, which has declared the London- and Johannesburg-listed company headed by Ivan Glasenberg as the current “standout” diversified mining... 

Flashback to CEO Ivan Glasenberg opening Glencore-funded school in South Africa's coalfields.
Photo by Creamer Media
Flashback to CEO Ivan Glasenberg opening Glencore-funded school in South Africa's coalfields.

WGC report a first step in understanding gold’s GHG footprint

By: Anine Kilian     27th June 2018 While there is limited published data on gold’s global carbon footprint, research by the World Gold Council (WGC) has determined that total greenhouse-gas (GHG) emissions from newly-mined gold are significantly lower than those of other major metals and mined products. “Gold is also valuable and,... 

Gold seen fighting back as dollar rebound is poised to reverse

By: Bloomberg     27th June 2018 Much maligned gold is set to stage a comeback as the dollar weakens, according to Pictet Wealth Management. Bullion will climb to $1 320 an ounce by the end of the year, said currency strategist Luc Luyet, which compares with about $1 256 on Wednesday. While trade tensions haven’t yet provided... 

IEA sees gas demand growth of 1.6% a year, China to become largest importer

By: Esmarie Iannucci     27th June 2018 A new report by the International Energy Agency (IEA) has shown that global gas demand will grow at an average rate of 1.6% a year, reaching just more than 4.1-trillion cubic metres in 2023. This forecast compares with demand of 3.74-tillion cubic metres in 2017, the IEA noted in its ‘Gas 2018’... 

IEA sees gas demand growth of 1.6% a year, China to become largest importer

Copper remains globally undersupplied, but production to pick up in next decade – BMI

By: Marleny Arnoldi     27th June 2018 BMI Research expects the global copper market to experience a persistent undersupply over the coming years, as global consumption growth, driven by China's power and infrastructure sectors and increasingly by rising electric vehicle (EV) production, continues to outpace supply growth.  

Copper remains globally undersupplied, but production to pick up in next decade – BMI

Ongoing fuel cell developments kindle hope for platinum demand 

By: Martin Creamer     26th June 2018 Ongoing hydrogen fuel cell developments across the globe are kindling hope for an eventual significant increase in platinum demand. This month alone, Hyundai Auto Canada took part in the official opening of Canada's first retail hydrogen fuelling station operated by Shell and Hydrogen Technology... 

Shell hydrogen GM Oliver Bishop fuels a fuel cell Hyundai in Vancouver.
Photo by Canadian Broadcasting Corporation
Shell hydrogen GM Oliver Bishop fuels a fuel cell Hyundai in Vancouver.

Nickel market deficit increases, but surplus expected by 2020 – BMI

By: Marleny Arnoldi     26th June 2018 BMI Research anticipates the global refined nickel market to remain in a slight deficit this year, as global production remains subdued.  

Nickel market deficit increases, but surplus expected by 2020 – BMI

Gold ETFs headed for weakest month since July 2017, despite trade war jitters

By: Reuters     26th June 2018 Gold-backed exchange-traded funds (ETF) tracked by Thomson Reuters were headed for their weakest month since July 2017, as investors covered losses in equities, commodities and other markets caused by tariff disputes. Gold, typically seen as a safe store of value during times of geopolitical and... 

Orion accelerating on all fronts, looking to upscale production

By: Martin Creamer     25th June 2018 ASX- and JSE-listed Orion Minerals has raised an additional A$11-million through a share placement so that it can accelerate on all fronts. This equity capital raising funds the company beyond the bankable feasibility study (BFS) to progress its Prieska zinc/copper project, in South Africa's... 

Orion Minerals CEO Errol Smart
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Tri-Star raises cash to invest in Oman antimony project

By: Mariaan Webb     22nd June 2018 London-listed Tri-Star has announced a placing to raise £13-million, the proceeds of which mainly will be used to meet its share of additional investment in its Oman antimony and gold processing joint venture (JV). Tri-Star, which owns 40% of Strategic and Precious Metals Processing (SPMP), said... 

Coal is being squeezed out of power by cheap renewables

By: Bloomberg     21st June 2018 Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally. That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5-trillion of... 

Trump's fickleness is dulling gold's appeal, Deutsche Fund says

By: Bloomberg     21st June 2018 Gold is failing in its traditional role as a haven in turbulent times, and a Deutsche fund manager has an explanation. On Tuesday, as the deepening trade spat between the US and China sent the S&P 500 index tumbling the most in a week, investors sought haven in the dollar, US Treasuries and yen,... 

Hyundai teams up with VW's Audi to boost hydrogen cars

By: Reuters     20th June 2018 Hyundai agreed a deal with Audi on Wednesday to collaborate on hydrogen car technology, hoping to boost an energy segment that has lagged behind battery electric vehicles. The South Korean firm wants to increase the uptake of hydrogen cars, which are propelled by electricity generated by fuel... 

The Israeli billionaire forcing Glencore to buck US sanctions

By: Bloomberg     16th June 2018 Not many billion-dollar companies would be willing to circumvent US sanctions for their business partner, but then few people are as powerful as Dan Gertler in the Democratic Republic of Congo. Gertler scored a victory when Glencore said on Friday that it would evade US sanctions to keep paying... 

Dan Gertler
Dan Gertler

Glencore’s DRC settlements should allay fears about asset seizure – analyst

By: Chanel de Bruyn     15th June 2018 Diversified miner Glencore’s settlement, this week, of various disputes with entities in the Democratic Republic of Congo (DRC), should allay investor concerns about the risk of a seizure of its DRC assets, says Goldman Sachs. Glencore, led by CEO Ivan Glasenberg, on Friday announced that it had... 

Glencore CEO Ivan Glasenberg
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Glencore says settled Congo mining dispute

By: Reuters     15th June 2018 Miner and commodities trader Glencore has settled its Congo mining dispute with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than US dollars, Glencore said on Friday. US sanctions on Gertler, Glencore's former Israeli partner in... 

Glencore subsidiary Katanga Mining's operations in the DRC.
Glencore subsidiary Katanga Mining's operations in the DRC.

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
Photo by Dylan Slater
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: 

International Council for Mining and Metals (ICMM) health, safety and product stewardship director John Atherton.
International Council for Mining and Metals (ICMM) health, safety and product stewardship director John Atherton.

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
Photo by Dylan Slater
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
Photo by Wynand van der Merwe
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,... 

Glencore faces new legal challenge against Congo cobalt mine

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... 

Lithium price may soften this year on ‘slight oversupply’ but EVs driving future optimism

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
Photo by Wynand van der Merwe
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... 

Platinum price set for recovery this year – survey

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
Photo by Dylan Slater
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
Photo by Dylan Slater
CRU Group senior consultant Aleksander Popovic
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