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Middle East News

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
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

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... 

Minerals Resources Deputy Minister Godfrey Oliphant (right) and Mining Weekly Online's Martin Creamer
Mineral Resources Deputy Minister Godfrey Oliphant announces junior funding at Junior Indaba, covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

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. 

Top global miners’ profits to rise to $76bn 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... 

Oil & gas, mining industries anxious about top brass succession planning

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
Photo by Creamer Media
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
Photo by Dylan Slater
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.  

S&P’s raises Glencore’s long-term issuer credit rating to BBB+

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.  

Electric vehicles could increase to 220m in 2030 – IEA

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.  

De Beers launches lab-grown diamond company Lightbox Jewellery in US

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,... 

D1 Mint buys 1 500 investment-grade diamonds for new diamond-backed crypto 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... 

Only one-third of the 15 largest copper producers reported positive production trends – S&P Global

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... 

Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky

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.  

Forevermark appeals to Millennials with new flagship store in 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
Photo by Creamer Media
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... 

Threat of cobalt supply shock is top risk for electric vehicles

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... 

Konkola CEO to head up new antimony and gold plant in Oman

By: Creamer Media Reporter      18th May 2018 The CEO of Vedanta-controlled Konkola Copper Mines, Steven Din, will join Strategic and Precious Metals Processing (SPMP) as CEO on August 1. He will lead SPMP’s new Oman antimony and gold processing facility, which is coming into production. 

Short spell of mining hope dashed – Lorimer

By: Martin Creamer     16th May 2018 The short spell of hope for South Africa’s beleaguered mining sector, which burst forth with the election of Cyril Ramaphosa as President, has been dashed, Shadow Mineral Resources Minister James Lorimer said during the mineral resources budget debate. Applying the ‘learning nothing and... 

Shadow Mineral Resources Minister James Lorimer
Shadow Mineral Resources Minister James Lorimer

Paulson keeps stake in gold investments during Q1 – filing

By: Reuters     16th May 2018 New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in gold investments during the first quarter of 2018, while other heavyweights including Soros Fund Management, Jana Partners and Caxton Corp all remained unexposed to the metal. The timing for Paulson appeared... 

Sanctions to have limited impact on Iran’s mining industry – BMI

By: Creamer Media Reporter      15th May 2018 The re-imposition of US sanctions on Iran will have only a limited impact on the country’s mining and metals industry in the short term and is expected to do “little additional damage to an industry already crippled by a myriad of domestic operational challenges”. This is according to BMI... 

UAE trader looking to expand into gold refining in Africa

By: Reuters     15th May 2018 Privately held gold trader Sakthi Trading Group is planning to build two gold refineries in Africa and is looking for investors for the projects, company executives said on Tuesday. The group, headquartered in the United Arab Emirates, is seeking a total investment of $246-million for the... 

World Diamond Congress cancelled

By: Anine Kilian     11th May 2018 The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have cancelled this year’s World Diamond Congress, which was due to be held in Tel Aviv, Israel, in June, as a result of a weak response to registration for the event. The organisations... 

Rio and Alcoa team up with Apple in zero carbon aluminium smelting drive

By: Esmarie Iannucci     11th May 2018 Mining major Rio Tinto has teamed up with aluminium producer Alcoa to develop the world’s first carbon-free aluminium smelting process. The new process will produce oxygen and replace all direct greenhouse-gas (GHG) emissions from the traditional aluminium smelting process. 

Rio and Alcoa team up with Apple in zero carbon aluminium smelting drive

Gold investment seen critical in managing emerging market portfolio performance – WGC

By: Henry Lazenby     10th May 2018 Gold is a proven store of value, especially for its role in safe-haven investment in times of geopolitical crises, but according to new analysis from the World Gold Council (WGC), the yellow metal plays a critical role in portfolios with exposure to emerging markets (EM). The WGC notes in its... 

Gold investment seen critical in managing emerging market portfolio performance – WGC

Ethiopia suspends gold mining firm's licence after weeks of protests

By: Reuters     10th May 2018 Ethiopia has suspended a gold mining firm's licence after weeks of protests in a town near the mine by local people who accuse the company of polluting their source of water and the atmosphere, a government official said. "The ministry suspended the licence in response to the demands of the... 

Gold industry running risk of becoming irrelevant – Bristow

By: Martin Creamer     10th May 2018 The gold mining industry is running the risk of becoming irrelevant to the investment community. “It hasn’t delivered much value for a long time,” Randgold Resources CEO Dr Mark Bristow commented to Mining Weekly Online during an interview to mark the company’s presentation of first-quarter... 

Randgold Resources CEO Dr Mark Bristow
Photo by Creamer Media
Randgold Resources CEO Dr Mark Bristow
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