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Middle East News

A year of two truths for zinc as new supply responds to tight market

By: Henry Lazenby     14th March 2018 This calendar year is expected to tell a tale of two outcomes for zinc as tight first-half concentrates and declining metal stocks contrast against new supply coming on stream and building concentrate levels. CRU Group analyst Ryan Cochrane foresees the real cash price of zinc building towards a... 

Only about 60% of potential new gold supply incentivised at $1 300/oz

By: Henry Lazenby     13th March 2018 Only about 60% of potential new gold supplies are incentivised for a 12% internal rate of return, at a gold price of $1 300/oz, Wood Mackenzie (WoodMac) analyst Vince Madden-Scott told an audience during a recent mining convention, in Toronto. This spells a grim picture for an industry that is... 

Only about 60% of potential new gold supply incentivised at $1 300/oz

China's enviro policies, EV growth two megatrends to boost most commodities

By: Henry Lazenby     13th March 2018 Chinese actions in recent years to embrace temporary production cuts and enforce stricter environmental regulations are probably here to stay for the long term and have already disrupted a range of commodities, including coal, aluminium, lithium and cobalt production chains. Commodity research... 

Cobalt metal nuggets
Photo by Bloomberg
Cobalt metal nuggets

Hydrogen transport proposed for opencast mines

By: Martin Creamer     13th March 2018 Hydrogen transportation technology would be useful in large opencast mines, where a number of haul trucks operate in a limited radius, says RTS Africa Engineering MD Ian Fraser. Such an application could serve as a stepping stone to the realisation of the value of hydrogen technology in... 

Ian Fraser
Ian Fraser

New Congolese mining code rattling mining companies

By: Megan van Wyngaardt     13th March 2018 Beyond raising costs for domestic miners, a new mining code signed into law by Congolese President Joseph Kabila last week, poses downside risks to the investment outlook of the country’s mining industry over the coming years, as a result of heightened government intervention and regulatory... 

Coal, rapid loadout projects under construction - Exxaro 

By: Martin Creamer     13th March 2018 Diversified mining company Exxaro Resources, which began a R13-billion coal expansion programme in the second half of last year, has three coal projects and a rapid loadout station under construction, and is at the ready to develop another two coal projects, pending Department of Energy and Eskom... 

Nombasa Tsengwa
Exxaro Resources executive head of coal operations Nombasa Tsengwa speaks to Mining Weekly Online’s Martin Creamer, Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer

Gold-standard rules sought by billion-euro bitcoin broker

By: Bloomberg     12th March 2018 Bitcoin should be regulated similar to gold – which benefits from simpler compliance rules than stocks or bonds – according to Austria’s biggest broker of the digital token. While cryptocurrency transactions in the European Union above €10 000 should be subject to anti-money laundering rules,... 

Coal miner Exxaro declares innovation an imperative 

By: Martin Creamer     12th March 2018 Coal mining company Exxaro Resources, which sees modernisation and innovation as imperatives, will this year announce new partnerships to ensure that it remains sustainably competitive going into the future. The Johannesburg Stock Exchange-listed black-led company, which has already met... 

Mxolisi Mgojo and Martin Creamer
Exxaro Resources CEO Mxolisi Mgojo talks to Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer.

LME rethinks cobalt contract for electric vehicle sector

By: Reuters     9th March 2018 The London Metal Exchange has abandoned plans for a cobalt sulphate contract for the electric vehicle battery supply chain because pricing for the chemical has historically been based on the metal it is derived from, cobalt industry sources said. The exchange is instead looking at offering a... 

LME rethinks cobalt contract for electric vehicle sector

Saudi Arabia enlists lobbyists in quest to build nuclear plants

By: Bloomberg     9th March 2018 Saudi Arabia is enlisting blue-chip lobbyists in Washington as it prepares for a fight over its ambition to build nuclear power plants. Three law firms have filed disclosures saying they are advising the kingdom on the issue, as American and Saudi leaders negotiate the contours of a possible... 

Exxaro negotiating new business opportunities beyond mining 

By: Martin Creamer     8th March 2018 While retaining coal as its bedrock, Exxaro Resources has begun taking steps that will take the company beyond coal and even beyond mining, Exxaro CEO Mxolisi Mgojo said on Thursday. But this is all taking place while Exxaro continues to invest heavily in its long-term coal-mining business, which... 

Mxolisi Mgojo
Exxaro Resources CEO Mxolisi Mgojo’s presentation of 2017 results covered by Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer

Anglo American renews shipping contract with Vuka Marine

By: Megan van Wyngaardt     8th March 2018 Global miner Anglo American has renewed its various full-time ocean freight contracts with local maritime company Vuka Marine. Under these freight contracts, Anglo American will transport bulk iron-ore and coal products, primarily from the Saldanha Bay port to its customers around the world. 

Anglo American renews shipping contract with Vuka Marine

World's biggest mining show draws huge crowd, signalling mining investment optimism

By: Henry Lazenby     7th March 2018 The Prospectors & Developers Association of Canada's (PDAC's) 2018 convention, in Toronto, drew an international crowd of 25 606 people, in what is widely considered as a clear sign that optimism is returning to the mineral exploration and mining industry following several years of turmoil.... 

World's biggest mining show draws huge crowd, signalling mining investment optimism

Palladium dubbed 'unobtainium', rhodium 'next palladium'

By: Martin Creamer     7th March 2018 While diesel demonisation continues to the detriment of platinum, several key steps that will benefit platinum are poised to be taken in the next 18 to 24 months. The first of these key steps is the substitution of platinum for palladium in gasoline systems, against the backdrop of palladium... 

Paul Finney
Photo by Creamer Media
Paul Finney

UBS warns of 'deep trade war' as commodity giant sees no winners

By: Bloomberg     7th March 2018 Raw materials are at great risk as Donald Trump’s White House prepares to pull the trigger on tariffs. UBS Group warned metals to energy will be hurt should US levies spark a global trade war, while commodity powerhouse Australia forecast only a damaging race to the bottom. “Obviously, going... 

UBS warns of 'deep trade war' as commodity giant sees no winners

Daimler's R&D chief sees nickel rich batteries gaining traction

By: Reuters     7th March 2018 The car industry is moving towards making electric car batteries with a higher ratio of nickel, Ola Kaellenius, Daimler board member responsible for research and development, said on Tuesday. High cobalt prices have been pushing manufacturers to adjust the recipe for the batteries used to power... 

Nexa a pioneer of the new future of mining – Tito Martins

By: Henry Lazenby     6th March 2018 Recently rebranded Brazilian miner Nexa Resources is at the forefront of innovating in the mining industry with progressive policies and innovative technologies, an audience attending the keynote session during the Prospectors and Developers Association of Canada's 2018 convention has heard.... 

Nexa Resources president and CEO Tito Martins addresses the audience during the PDAC 2018 keynote session, in Toronto
Photo by Henry Lazenby
Nexa Resources president and CEO Tito Martins addresses the audience during the PDAC 2018 keynote session, in Toronto

Gold-backed ETFs lose 5.1 t in Feb

By: Henry Lazenby     6th March 2018 The latest data from the World Gold Council (WGC) shows that gold-backed exchange-traded funds (ETFs) have lost 5.1 t of yellow metal during February, but in total added 25.3 t during the first two months of the year. The inflow over the two-month period was mainly boosted by a 10% increase by... 

German ruling likely blessing in disguise for platinum - RBPlat 

By: Martin Creamer     6th March 2018 The German Federal Court ruling on diesel car emissions, which could cost transgressors eight-billion euros in fines a year, is seen as a likely blessing in disguise for platinum, Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri said on Tuesday. The global backlash against diesel-engine cars,... 

Steve Phiri in conversation with Martin Creamer
Royal Bafokeng Platinum CEO Steve Phiri’s presentation of results is covered by Mining Weekly Online’s Martin Creamer. Photograph, Video & Video Editing: Darlene Creamer. Recorded 6.03.2018

WTO chief urges States to stop first dominoes of trade war

By: Reuters     6th March 2018 The head of the World Trade Organization (WTO) told member states on Monday they must prevent "the fall of the first dominoes" in a trade war and warned of a real risk of triggering an escalation of global trade barriers and a deep recession. World trade policy is in turmoil because of US... 

WTO director general Roberto Azevedo
Photo by Reuters
WTO director general Roberto Azevedo

Trump tariffs are black day for world, business, BHP CEO says

By: Bloomberg     6th March 2018 President Donald Trump’s plans to slap tariffs on steel and aluminium imports is a black day for the world and business, according to the biggest mining company. BHP Billiton and competitors could be hit should other economies follow the move by the US toward a more protectionist and anti... 

BHP CEO Andrew Mackenzie
BHP CEO Andrew Mackenzie

Outlook good for cash-flush Merafe

By: Martin Creamer     6th March 2018 Chrome and ferrochrome company Merafe, which has zero debt and R600-million cash on hand, sees ferrochrome prices being supported by the cost of production in China, solid projected stainless steel production growth and the absence of any major additional ferrochrome supply capacity coming on... 

Merafe CEO Zanele Matlala
Merafe CEO Zanele Matlala

Acoustic Zoom triumphs in #DisruptMining technology innovation contest

By: Henry Lazenby     5th March 2018 Three-dimensional (3D) drill hole seismic imaging technology innovator Acoustic Zoom has won the second annual #DisruptMining contest. Acoustic Zoom aims to unlock the potential of Canada's mineral exploration sector with high-frequency 3D imaging to help map complex geological formations deep... 

Global metals exploration likely to rise 20% in 2018 – S&P Global

By: Henry Lazenby     5th March 2018 Global mining exploration budgets are expected to swell about 20% in 2018, bolstered by the generally positive trend in metals prices extending into early 2018, a new report by S&P Global Market Intelligence has found. Global spending on the search for nonferrous metals rose 15% year-on-year in... 

Global metals exploration likely to rise 20% in 2018 – S&P Global

Africa attracts 14% of world's 2017 exploration budget - S&P's

By: Megan van Wyngaardt     5th March 2018 Africa attracted 14% of the $8.4-billion budgeted for exploration for nonferrous metals globally in 2017, Standard & Poor's (S&P's) 'Global World Exploration Trends' report highlights. Exploration in Africa was focused mainly on the Democratic Republic of Congo (DRC), Burkina Faso, Tanzania and... 

S&P's sees further improvement in most metal prices in year ahead

By: Megan van Wyngaardt     5th March 2018 Metals prices have benefited from the improved global economy and from a recently weaker US dollar, in which most commodities are valued, with the Standard & Poor's (S&P's) GSCI reaching a two-year high on January 26, aiding the uptick in global exploration, the research firm's 'World Exploration... 

S&P's sees further improvement in most metal prices in year ahead

Soaring Merafe goes into cashflow orbit, lifts dividend 151%

By: Martin Creamer     5th March 2018 Chrome and ferrochrome company Merafe delivered exceptional results for 2017, setting new production, revenue, earnings before interest tax depreciation and amortisation (Ebitda) and dividend records. Cashflow from operating activities rocketed 179% to R1 400-million, compared with R502-million... 

Merafe CEO Zanele Matlala
Photo by Creamer Media
Merafe CEO Zanele Matlala

New exploration tool harnesses cosmic rays to find mineral deposits

By: Henry Lazenby     5th March 2018 A Vancouver-headquartered technology firm CRM Geotomography Technologies has developed a technology that exploits cosmic ray muons to find mineral deposits hidden underground. A spin-off company of TRIUMF Innovations, the commercialisation arm of TRIUMF – Canada's national particle accelerator... 

Savannah’s copper project permitting in Oman advances

By: Nadine James     2nd March 2018 All of the required government permitting approvals for the mining licence application for Aim-listed Savannah Resources’ Maqail South copper project, in Oman, have now been received. Additionally, seven approvals for the Mahab 4 mining licence application have been received, with the Omani... 

Trump says US to impose steep tariffs on steel, aluminium imports

By: Reuters     2nd March 2018 US President Donald Trump announced on Thursday he would impose hefty tariffs on imported steel and aluminium to protect US producers, risking retaliation from major trade partners like China, Europe and neighbouring Canada as well as helping to trigger a large selloff on Wall Street. Trump said... 

Trump says US to impose steep tariffs on steel, aluminium imports

Implats harvests loss shafts, mulls more investment in profitable shafts 

By: Martin Creamer     1st March 2018 The 40 000-employee Impala Platinum Mine in Rustenburg, which is 'harvesting' unprofitable shafts while studying additional investment opportunities in the many profit-making shafts within its well-endowed, long-life lease area, has set in motion a process to cut costs by R1-billion. Harvesting,... 

Nico Muller and Martin Creamer
Implats CEO Nico Muller talks to Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer. Recorded 1.03.2018

Stratex welcomes geologist Livesey as CEO

By: Megan van Wyngaardt     1st March 2018 Gold-focused Stratex International on Thursday welcomed CEO Tim Livesey in his new position. “I am very pleased to be joining Stratex International and am looking forward to working with the team to enhance the value of our existing portfolio and, importantly, to develop some new avenues for... 

Vale CEO eyes first quarter results in line with fourth quarter

By: Reuters     28th February 2018 Brazilian miner Vale should achieve results in the first quarter that are similar to those in the final three months of 2017, the chief executive officer of the world's top iron-ore producer said on Wednesday. In a conference call after the company reported a nearly 50% jump in profit in the... 

Resounding welcome for Gwede, who declines opportunity to comment

By: Martin Creamer     27th February 2018 New South African Mineral Resources Minister Gwede Mantashe has received a resounding welcome from the Chamber of Mines of South Africa, Business Leadership South Africa (BLSA) and mining luminaries. The Chamber of Mines of South Africa has welcomed the appointment of Mantashe, 62, describing him... 

Incoming Mineral Resources Minister Gwede Mantashe
Photo by Duane Daws
Incoming Mineral Resources Minister Gwede Mantashe

Structural change needed to arrest mining's decline - analysts

By: Martin Creamer     26th February 2018 Structural change, with government and labour playing central roles, is needed to arrest the decline in South African mining, say Nedbank CIB mining analysts Leon Esterhuizen and Arnold van Graan. In comprehensive note, Esterhuizen and Van Graan describe South Africa's labour-intensive mining... 

Leon Esterhuizen, Arnold van Graan and Martin Creamer
Photo by Duane Daws
Leon Esterhuizen, Arnold van Graan and Martin Creamer

Stronger-than-expected iron-ore price rally not expected to last – BMI

By: Creamer Media Reporter      23rd February 2018 The strong iron-ore price rally over the last several months is not expected to last and will gradually run out of steam over the next several years as Chinese economic growth refocuses away from heavy industry to services, dampening global demand for the steelmaking ingredient, Fitch... 

Northam Platinum to create 6 500 new jobs in growth thrust 

By: Martin Creamer     23rd February 2018 Platinum group metals (PGMs) mining company Northam, which is in a strong organic and acquisitive growth phase, will be generating 6 500 new mining jobs in the next four to five years, which dovetails with President Cyril Ramaphosa's 'sunrise' aspirations expressed in his well-received State of... 

Paul Dunne and Martin Creamer
Northam Platinum CEO Paul Dunne presented financial results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

He got rich on Congo mines until bribe probe put future on hold

By: Bloomberg     23rd February 2018 A 20-year friendship that helped turn Dan Gertler into a billionaire has left the Israeli businessman with a lot fewer places to go. The US government accused Gertler of corrupt mining and oil deals in the Democratic Republic of Congo and said he acted as a middle-man to enrich his longtime... 

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