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Middle East News
DRC to have biggest growth story in mining this year, despite risks - BMI
By: Megan van Wyngaardt 1st February 2018 Research firm BMI expects the Democratic Republic of Congo (DRC) to be the fastest-growing major mining market in the world this year. In its latest industry trend analysis, the firm outlined that this growth would be driven by rising prices of key commodities, which would improve mining... →
DRDGold thumbs nose at lower gold price as output ups earnings
By: Martin Creamer 1st February 2018 Gold tailings retreatment specialist DRDGold is set to report higher earnings on higher production that cocked a snook at the lower gold price in the six months to December 31. Earnings a share are poised to be between 14.16c and 14.64c for the six months ended December 31, compared with 0.6c for... →
Tharisa entering multi-project PGM-chrome growth phase
By: Martin Creamer 31st January 2018 Platinum group metals (PGMs) and chrome co-producer Tharisa Minerals, which predicts that a global chrome ore deficit is on the horizon, has published details of its strategic Vision 2020 growth thrust. “Tharisa is entering an exciting growth phase,” CEO Phoevos Pouroulis said in the release to... →
Tharisa Mine this week.
Mining companies need to become disruptors – Deloitte
By: Natasha Odendaal 31st January 2018 The key to a future in the mining sector increasingly lies in overcoming innovation barriers, embracing digitisation and unlocking the workforce of the future, as well as anticipating the digital mine of the future, Deloitte Global’s latest mining report shows. Deloitte Touche Tohmatsu’s tenth... →
Coal India diversification strategy moves ahead
By: Ajoy K Das 31st January 2018 Coal India Limited (CIL) will complete the formation of a separate independent business to undertake diversified mining before the end of the current financial year. According to company sources, CIL will comprise two business verticals, independent of each other, one taking charge of diversified... →
New R230m chrome tailings plant launched
By: Martin Creamer 31st January 2018 South African mine-to-market chrome producer ChromTech Holdings said on Wednesday that it had completed a R230-million chrome tailings retreatment plant at Lonmin, where the plant forms part of the platinum-mining company’s bulk retreatment of upper group two tailings initiative, which is... →
AngloGold output up but loss looms on impairment, retrenchment, silicosis costs
By: Martin Creamer 31st January 2018 Gold mining company AngloGold Ashanti produced more gold in the 12 months to December 31 than in the same period of 2016, but is heading for a basic loss for the period on impairment, retrenchment and silicosis settlement costs, the company said in a trading statement on Wednesday. Full-year... →
China demand and tight supplies set to sustain nickel price rally
By: Reuters 30th January 2018 A combination of surging China imports, tighter supplies and fund interest are expected to sustain prices of stainless steel ingredient nickel, which have reached their highest level in more than two years. Benchmark nickel on the London Metal Exchange hit $14 040/t on Monday, the highest since... →
Chrome ore supply deficit ahead – Tharisa
By: Martin Creamer 30th January 2018 Platinum-group metals (PGMs) and chrome coproducer Tharisa Minerals CEO Phoevos Pouroulis is predicting a shortage of chrome ore supply in the short to medium term, driven by burgeoning stainless steel demand. Chrome ore is fundamental to the manufacture of stainless steel, demand for which is... →
Tharisa Minerals CEO Phoevos Pouroulis
As global economy hums, Davos turns bullish on commodities
By: Bloomberg 27th January 2018 The last two editions of the World Economic Forum were somber affairs for oil industry chieftains and commodities tycoons. The consensus in Davos was that oil was going to stay low, OPEC would fail to lift prices, and the mining industry faced a difficult time. Roll forward to 2018 and there’s... →
Copper deals off to best start in 12 yrs as prices surge
By: Bloomberg 27th January 2018 Copper mining deals are off to the best start in at least 12 years – and more money could be pouring into the sector this year. More than $500-million in transactions are pending or were completed so far this month, the most recorded for January in Bloomberg data going back 12 years. Merger... →
Zinc, lead outlook bright but analysts expect peak pricing as soon as this year
By: Henry Lazenby 27th January 2018 High commodity prices in 2018 are expected to sustain robust margins for zinc and lead miners this year, as supplies of both metals remain constrained. According to market research and consultancy firm CRU International, following on from record zinc deficits in 2017 in the range of 650 000 t of... →
Glencore zinc ingots
WGC bashes cryptocurrency as 'no substitute for gold'
By: Henry Lazenby 26th January 2018 In the wake of cryptocurrencies last year emerging as a market darling, delivering extreme gains to risk-tolerant investors, the World Gold Council (WGC) has come out in defence of gold, saying that, while cryptocurrencies may become an established part of the financial system, gold remains... →
A collection of bitcoin, litecoin and ethereum tokens
Gold expected to peak at $1 500/oz this year – Thomson Reuters
By: Mia Breytenbach 25th January 2018 Gold prices are expected to average $1 360/oz and hit a 2018 peak of more than $1 500/oz later this year, according to research firm Thomson Reuters GFMS, which published its fourth-quarter Gold Survey on Thursday. The firm noted that the survey’s forecast discounts three federal fund rate hikes... →
Benchmark downplays investor fears of looming lithium oversupply, subsequent price crash
By: Henry Lazenby 25th January 2018 London-based Benchmark Mineral Intelligence has downplayed top-level investor fears this week regarding the potential for lithium market oversupply and an inevitable price crash to follow. The energy metals-focused research company pointed out that rumours about up to 180 000 t/y of added lithium... →
Investment demand for gold on the rise - WGC
By: Megan van Wyngaardt 23rd January 2018 New ways to access the gold market, such as physical gold-backed exchange-traded funds (ETFs), have resulted in the investment demand for gold growing 18% each year since 2001, indicating that the precious metal has now become more mainstream, the World Gold Council (WGC) said in its latest... →
Copper production declined in first ten months of 2017 – ICSG
By: Schalk Burger 23rd January 2018 Worldwide copper mine production declined 2.6% in the ten months to October 2017, while concentrate production declined by 2.2% and production through solvent extraction-electrowinning declined by 4.3% in the same period, according to the intergovernmental copper body The International Copper... →
Gold market mulling blockchain to secure $200bn of supply
By: Bloomberg 23rd January 2018 Gold is going digital. Blockchain technology may help keep track of the roughly $200 billion of the precious metal dug from remote mines, traded by middlemen and melted down by recyclers that’s sold each year to buyers scattered around the world. →
Thakadu’s nickel plant secures R50m black industrialist grant
By: Martin Creamer 23rd January 2018 Innovative metals and energy company Thakadu Battery Materials has secured a R50-million black industrialist grant from South Africa’s Department of Trade and Industry (DTI) for the construction of its pure nickel sulphate plant in North West province, which will make use of platinum producer... →
Revamped Barrick harkens back to founding principles as 'new generation' of discovery, partnerships beckon
By: Henry Lazenby 23rd January 2018 The world's largest gold producer by output Barrick Gold is looking towards a more sustainable future based on a leaner, more tightly owned portfolio, with future growth increasingly hinging on forming synergistic partnerships with former mining rivals. With the gold price off to a strong start... →
Barrick president Kelvin Dushnisky
Resilient Lonmin delivers sturdy output, extracts cash from tailings
By: Martin Creamer 22nd January 2018 Embattled but resilient platinum company Lonmin, which is enthusiastically embracing the Sibanye-Stillwater’s offer made to it, did all its stakeholders proud in the fatality-free first quarter of its new financial year by putting in a sturdy operational performance that saw sales rise 9%,... →
Millennials snubbing diamonds has hedge fund seeing slump deepen
By: Bloomberg 19th January 2018 Diamonds are set to slump further, according to a hedge fund whose bet on marijuana made it the world’s best performer in 2016. Prices of the precious gem may slump as much as 10% this year as it loses appeal with younger consumers and faces challenges from synthetic alternatives, said... →
China's proposed dual-credit scheme can reshape the EV market – WoodMac
By: Henry Lazenby 19th January 2018 China's electric vehicles (EV) market has grown exponentially to overtake the US as the world's largest EV market, thanks to heavy government subsidies to spur growth in the emerging automotive sector. However, research and consultancy firm Wood Mackenzie (WoodMac) warns that these subsidies are... →
Materials Price Index rises for tenth week in a row
By: Henry Lazenby 19th January 2018 The Materials Price Index (MPI) from Global Insight by IHS Markit has risen for the tenth consecutive week, the research and consultancy group announced on Thursday. The index added a strong 1.8%, adding to a 15.1% rise since early October, when the current rally started. →
New ‘disruptive’ mine borer heads for Indaba unveiling
By: Martin Creamer 18th January 2018 A new Proudly South African mine tunnel borer that requires no blasting, delivers higher production advances, comes with a collaboration imprimatur and can be retrofitted to existing operations, will be unveiled at next month’s Mining Indaba in Cape Town and commissioned in the third quarter of... →
Danie Pretorius
BHP second-quarter iron-ore output up 3%, maintains forecast
By: Reuters 18th January 2018 Global miner BHP on Thursday reported a 3% rise in second-quarter iron-ore production year over year and said it expects to meet its full-year target as prices for the steelmaking ingredient outperform forecasts. BHP's iron-ore output climbed to 72-million tonnes for the three months ended... →
Canadian miners welcome new federal business ethics ombudsman
By: Henry Lazenby 18th January 2018 Canada’s Liberal government has introduced a new federally mandated Ombudsman for Responsible Enterprise (CORE) to investigate human rights complaints about the overseas operations of Canadian companies. The watchdog will investigate complaints and, if warranted, will make recommendations to... →
WoodMac urges automakers to ‘get out their chequebooks’, secure energy metal supplies
By: Henry Lazenby 17th January 2018 Auto manufacturers are ramping up strategies to cash in on the accelerating worldwide acceptance and demand for electric vehicles (EVs), prompting advice from research and consultancy group Wood Mackenzie for automakers to ‘get out their chequebooks’ and take stakes in mines or new mine projects... →
DRA expands Asia-Pacific footprint
By: Martin Creamer 17th January 2018 Global engineering, project delivery, contract operations specialist and asset management group DRA’s acquisition of Perth-based Minnovo expands its Australian footprint and adds depth to its metallurgical, engineering, procurement, project management, construction and commissioning capabilities... →
DRA CEO Wray Carvelas
Marathon mineral rights tangle goes to Constitutional Court
By: Martin Creamer 17th January 2018 The Constitutional Court of South Africa is being asked to pronounce on a marathon mineral rights entanglement that lower courts have failed to resolve. What the High Court proclaimed, the Supreme Court of Appeal overturned, and now Chinese subsidiary company Aquila Steel has applied to the... →
Palladium risks tripping up as prices stampede higher
By: Reuters 17th January 2018 Palladium, the hottest property in the precious metals deck last year, is tipped for a record performance in 2018 even among bearish forecasters, but the metal could become a victim of its own success. The prospect of sharply higher prices could well prompt substitution of the metal for cheaper... →
Gold losses in years past keep producers from buying more mines
By: Bloomberg 17th January 2018 Stung by some lousy investments that led to billions of dollars in losses a few years ago, the world’s major gold producers have cut way back on mining deals – even as metal prices posted their biggest rally since 2010. The value of the industry’s transactions, from acquisitions to... →
Two top gold miners hit 2017 gold guidance
By: Henry Lazenby 17th January 2018 Two of the world’s largest gold producers by volume have realised their production goals for 2017. Toronto-based Barrick Gold, currently still the world’s largest gold producer by output, on Tuesday announced that preliminary full-year gold output of 5.32-million ounces for 2017 was in line with... →
As stockpiles fall, which metals are really in tight supply?
By: Reuters 16th January 2018 Stocks of industrial metals in London Metal Exchange (LME) warehouses fell more than 40 percent last year and further declines are expected in 2018, which should in theory signal tighter supplies and fuel a blistering price rally. But rising inventories of metals at smaller rival exchanges... →
World Gold Council spots trends that'll be gold’s 2018 friends
By: Martin Creamer 16th January 2018 Synchronised global economic growth, shrinking central bank balance sheets, rising interest rates, insubstantial asset prices and market transparency are the trends that will be gold’s best friends in 2018, the World Gold Council said on Tuesday. These trends, the council said in delivering its... →
Gold bars produced at Rand Refinery, Germiston.
De Beers turns to blockchain to track diamond origins and purity
By: Reuters 16th January 2018 Anglo American's diamond unit De Beers aims to launch the first industry-wide blockchain this year to track gems each time they change hands starting from the moment they are dug from the ground, its chief executive said on Tuesday. De Beers, the world's biggest diamond producer by the value of... →
Copper falls most in 6 weeks as metal rally starts to give
By: Bloomberg 16th January 2018 After a non-stop rally, metals prices are starting to pull back. Copper, aluminium and nickel slid more than 2% on Tuesday as investors focused on the rebounding dollar and evidence of ample supply in the physical market. Precious metals also retreated, with silver falling as much as 3.2%. →
Glencore reserves should be valued higher – analysts
By: Martin Creamer 15th January 2018 Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has towards managing its assets. Reflecting on the decision of Glencore to pull metal from the market... →
Glencore CEO Ivan Glasenberg
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