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Middle East News
Strong investment case for gold in 2019 – World Gold Council
By: Marleny Arnoldi 31st January 2019 Global gold demand in 2018 increased by 4% year-on-year to 4 345 t and was in line with the five-year average demand of 4 347 t. The World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ report, published on Thursday, said the increase was driven by a 52-year high in central bank buying and... →
Iron-ore rockets as Vale supply disruption convulses market 
By: Bloomberg 30th January 2019 The global iron-ore market was pitched into turmoil after Brazil’s Vale SA, the world’s largest producer, outlined plans to cut output after a deadly dam breach, buoying shares of rivals as investors weighed the impact of the disruption. Prices soared, with futures rallying more than 9%. Vale... →
Vale CEO Fabio Schvartsman
Deloitte outlines trends to assist miners find new strategic approach
By: Simone Liedtke 29th January 2019 To thrive amid the demands and exigencies that the Fourth Industrial Revolution (4IR) presents, mining companies will need a new strategic approach – one that considers not only the full range of industry shifts and risks, but that also provides executives with an enterprise-wide view of their... →
Cryptocurrencies are not a safe-haven, says World Gold Council
By: Simone Liedtke 29th January 2019 While cryptocurrencies may have a role to play in financial markets, the World Gold Council (WGC) believes their “behaviour” in an environment of market uncertainty underscores that cryptocurrencies are “not a viable substitute for gold as a safe-haven”. During the fourth quarter of 2018,... →
Palladium theft rampant – FT
By: Martin Creamer 29th January 2019 Palladium, used in catalytic converters that reduce harmful petrol vehicle emissions, is catalysing a crime wave in the UK, says the Financial Times (FT) of London. “Thieves are stealing catalytic converters – often in broad daylight – and selling the devices to illegal scrap dealers for cash,”... →
A bar of palladium.
Indaba celebrates silver anniversary, reaffirms commitment to Africa
By: Nadine James 25th January 2019 The 2019 Investing in African Mining Indaba – to be held at the Cape Town International Convention Centre from February 4 to 7 – will be the twenty-fifth iteration of the event, with the “world’s largest mining conference” having reached this milestone being testimony to its relevance and value,... →
Indaba celebrates silver anniversary, reaffirms commitment to Africa
By: Nadine James 25th January 2019 The 2019 Investing in African Mining Indaba – to be held at the Cape Town International Convention Centre from February 4 to 7 – will be the twenty-fifth iteration of the event, with the “world’s largest mining conference” having reached this milestone being testimony to its relevance and value,... →
New vehicle technology uses cobalt
By: Martin Creamer 22nd January 2019 A promising new vehicle technology, which uses a cobalt-based catalyst, mirrors the world’s current ‘well-to-wheel’ refuelling ecosystem in being designed to allow motorists to call at conventional petrol stations to fill up with the liquid fuel from which hydrogen is extracted and then converted... →
Car that uses fuel consisting of mainly water converted into hydrogen and then electricity.
To meet climate goals, world urged to reuse natural resources
By: Reuters 22nd January 2019 More of the billions of tonnes of materials the world uses each year must be recycled and reused to keep climate change in check, researchers said on Tuesday. Only about a tenth of the nearly 93 billion tonnes of materials utilised annually - including minerals, metals, fossil fuels and biomass -... →
Ariana encouraged by Kizilcukur developments
By: Simone Liedtke 21st January 2019 Updated developments at Turkey-focused Ariana Resources’ Kizilcukur project show that about 2 800 t of mineralised material is currently stockpiled on site, with the potential to double with limited additional trial mining in 2019. Kizilcukur is part of the Red Rabbit Joint Venture (JV) with... →
Israeli billionaire Leviev's Zambia emerald mine stake restored
By: Bloomberg 21st January 2019 Zambia’s company registry reversed a decision to strip Israeli diamond billionaire Lev Leviev of his 50% stake in an emerald mine that’s at the heart of a $50-million dispute. The Patent and Companies Registration Agency, or Pacra, said in a letter on Thursday that it reversed the forfeiture of... →
IEA sees oil demand growth defying economic slowdown for now
By: Bloomberg 18th January 2019 Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency. “We have seen prices fall very significantly since the peak at the beginning of October, and that is... →
Rio Tinto’s copper output, iron-ore shipments rise
By: Esmarie Iannucci 18th January 2019 Diversified major Rio Tinto has reported higher iron-ore and copper production for the quarter ended December, with other commodities remaining stable. “We delivered a solid operational performance in the final quarter of 2018, in particular across our copper assets,” said Rio CEO Jean-Sebastian... →
Rio Tinto CEO Jean-Sebastian Jacques
Platinum price fall worsening plight of job-intensive mines
By: Martin Creamer 16th January 2019 The latest fall of the platinum price is threatening to become the last straw that broke the camel’s back for some deep labour-intensive platinum group metals (PGMs) mines on particularly the western limb of the Bushveld Complex, Mining Weekly Online can today report. Well ahead of the latest... →
Ford, IBM among quartet in Congo cobalt blockchain project
By: Reuters 16th January 2019 Carmaker Ford, technology giant IBM, South Korean cathode maker LG Chem and China's Huayou Cobalt have joined forces in the first blockchain project to monitor cobalt supplies from Democratic Republic of Congo. The pilot, overseen by responsible-sourcing group RCS Global, aims to help... →
Opec+ plans review in Baku in March, Ministers' Meeting in April
By: Bloomberg 15th January 2019 Opec and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organization’s top official. The body that reviews the implementation of Opec’s supply cuts, the Joint Ministerial... →
Barrick CEO to forge ahead in Latin America despite past strains
By: Bloomberg 11th January 2019 Barrick Gold Corp’s new boss intends to push ahead with plans to increase investment in the mineral-rich – but environmentally tricky – deposits straddling the Chile-Argentina border. “If you want to find elephants, go to elephant country,” CEO Mark Bristow, a South African geologist and big-game... →
Barrick Gold CEO Mark Bristow
World Gold Council believes gold will become more relevant in 2019
By: Simone Liedtke 10th January 2019 The World Gold Council (WGC) has said it believes gold will become even more relevant this year owing to “its proven record” for delivering returns, its low correlation to major asset classes, its liquidity and its risk-adjusted returns. Looking ahead, the council expects gold demand to benefit... →
Oil near one-month high amid Opec cuts, economic uncertainty
By: Bloomberg 10th January 2019 Oil traded near a one-month high after entering a bull market, while the tension between an uncertain economic outlook and efforts by Opec to restrict supplies continued to cause volatile trading. West Texas Intermediate slipped 0.5% after a rally on Wednesday brought crude’s rebound from an... →
Value-chain relationship rebuild essential for platinum group metals’ survival – Ritchken
By: Martin Creamer 10th January 2019 The rebuilding of key strategic relationships across the value chain of the platinum group metals (PGMs) sector is essential for the survival of the industry, Mining Phakisa coordinator Edwin Ritchken states in the book The Future of Mining in South Africa: Sunset or Sunrise, published by the... →
Mining Phakisa coordinator Edwin Ritchken
Goldman warns iron-ore's jump into $70s 'is not sustainable'
By: Bloomberg 9th January 2019 Iron-ore’s rally over the past month, with benchmark material pushing back into the $70s, is at risk as banks including Goldman Sachs Group and Morgan Stanley warn that prices are poised to drop back. While industry fundamentals have improved, current prices won’t last as more supply is on the... →
Gold treads lower on improved risk appetite; palladium at record high
By: Reuters 9th January 2019 Gold prices edged lower on Wednesday as a likely end to a long-drawn Sino-US trade war boosted risk sentiment, outweighing expectations of a pause in interest rate increases by the Federal Reserve. Meanwhile, palladium hit a record high at $1 340.50 an ounce during the session. →
Global gold-backed ETF holdings grew 3% in 2018 – World Gold Council
By: Simone Liedtke 8th January 2019 Global gold-backed exchange-traded funds (ETFs) grew by 3% in 2018, and were driven by strong growth in European funds and increased global inflows during December, the World Gold Council’s monthly gold ETF/exchange-traded product (ETP) report, published on Tuesday, shows. This, the report... →
Gold miners to focus on mitigating risks – Fitch Solutions
By: Simone Liedtke 8th January 2019 Consultancy company Fitch Solutions believes the gold mining industry will remain fragmented, with the top five companies producing just one-fifth of global output. Despite the company’s expectation of a slight rebound in prices, it stated in its latest ‘Outlook for gold miners’ report, published... →
Carmeltazite recognised as a new and rare mineral
By: Tasneem Bulbulia 7th January 2019 Middle Eastern precious stone exploration company Shefa Yamim on Monday announced that carmeltazite, a mineral found in one of its gemstones, the carmel sapphire, has been recognised and approved as a new mineral by the International Mineralogical Association (IMA) Commission on New Minerals,... →
BlackRock heaps praise on gold's role as a tough year opens
By: Bloomberg 7th January 2019 Gold may extend gains as global growth slows, equity market volatility remains elevated and the Federal Reserve is expected to ease back on the pace of policy tightening this year, according to a BlackRock money manager, who says the precious metal offers an effective hedge. “Recession fears are... →
Goldman takes hatchet to near-term metals outlook as China sours
By: Bloomberg 7th January 2019 Goldman Sachs Group chopped back its near-term metals forecasts as China’s economy has “decelerated notably,” while balancing that outlook with a prediction mainland policy makers will respond by stoking expansion in the second half, aiding a revival in copper and aluminum. The bank – which had... →
At least 30 gold miners killed in tunnel collapse in northern Afghanistan
By: Reuters 6th January 2019 At least 30 Afghans were killed on Sunday when the tunnel they were digging in to mine gold in northern Afghanistan collapsed, officials said. Officials said the victims were villagers who were mining for gold illegally, rather than in a government project. →
Anglo American makes executive changes in base metals unit and Brazil
By: African News Agency 3rd January 2019 Global mining group Anglo American on Thursday announced a number of senior management changes following the decision to divide the management of its global base metals business from its strategy and business development activities. The group said that Ruben Fernandes, currently chief executive... →
Gold opens 2019 with fanfare amid growth concerns as copper sags
By: Bloomberg 3rd January 2019 Gold futures rose, extending their best quarterly rally in more than a year as concern over China’s economic outlook weighed on global equities and industrial metals. Bullion hit a six-month high, nearing $1 300 an ounce, after a report showing a contraction in China manufacturing renewed wild... →
Metal bulls cheer end to 'horrid' year; Goldman touts copper
By: Bloomberg 18th December 2018 As China goes, so goes industrial metals. That’s the message from anxious investors rolling out of a rough 2018, when Trump trade tensions, Federal Reserve rate hikes, a strong dollar and an economic slowdown in China all combined to push the London Metal Exchange Index to its first annual loss... →
Global uranium supply sufficient to meet future demand – NEA
By: Marleny Arnoldi 14th December 2018 Intergovernmental agency, the Nuclear Energy Association (NEA), says the world’s supply of uranium is more than adequate to meet projected requirements for the foreseeable future, regardless of the role that nuclear energy will play in meeting future electricity demand and global climate... →
Synthetic diamonds hogged media attention in 2018
By: Nadine James 14th December 2018 Media coverage of the diamond industry in 2018 has been dominated by the progression of laboratory-created diamond production, distribution and pricing dynamics, according to independent diamond expert Paul Zimnisky. He commented that several new players have entered the synthetic diamond space,... →
TALK OF THE TOWN Laboratory-grown diamonds have held media and industry attention throughout 2018
Japanese trading giant Mitsubishi throws weight behind platinum
By: Martin Creamer 13th December 2018 The Japanese trading giant Mitsubishi has thrown its weight behind technologies that harness the high-performance characteristics of platinum group metals (PGMs) by joining Anglo American Platinum (Amplats) and South Africa’s Public Investment Corporation (PIC) as an investor in AP Ventures,... →
AP Ventures managing partner Andrew Hinkly
Enable meaningful participation, pleads Women in Mining chair 
By: Martin Creamer 12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... →
Big coal wants consumers to pay for fixing its pollution problem 
By: Bloomberg 11th December 2018 Some of the world’s biggest fossil-fuel producers are calling on taxpayers to help them kick their pollution habit. The world’s biggest oil, natural gas and mining companies are stepping up their campaign to deploy carbon capture and storage, or CCS, as way to slow global warming. But with a... →
Oil holds drop on doubts over Opec curbs and US supply threat
By: Bloomberg 11th December 2018 Oil held its biggest loss in two weeks as uncertainty over how the Opec+ coalition will implement its output cuts and the prospect of surging US supplies kept investors wary. Futures in New York were little changed, after Monday’s 3.1% drop erased gains following last week’s pact between Saudi... →
Transnet praised for rapidly restoring stricken Saldanha iron-ore line
By: Martin Creamer 7th December 2018 State rail transport enterprise Transnet has earned praise by pulling out all the stops to rapidly restore a railway bridge on South Africa’s crucial Sishen–Saldanha iron-ore line. The line came to a halt on November 28 after a truck carrying heavy equipment at excessive height on a public road... →
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