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Middle East News
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... →
Metals power higher as sickly dollar spurs copper-to-gold rally
By: Bloomberg 15th January 2018 Copper jumped by the most in two months and zinc hit a fresh decade-high as base metals rallied on a potent combination of a softer dollar and continued robust outlook for demand. Gold and palladium also climbed. Copper surged as much as 2.1%, the most since November 13, to $7 259 a metric ton... →
Fura closes in on Colombian emerald mine buy; to create single-stop Dubai-based gemstone shop
By: Henry Lazenby 13th January 2018 Canadian gemstone-focused miner Fura Gems is setting up a single-stop destination in Dubai, where rubies and emeralds produced from its Mozambique and Colombian assets will be graded and sold at the Almas Tower. “The Almas Tower is arguably one of the most secure spaces in the world, from where... →
Search for space water heats up with Planetary’s Arkyd-6 satellite launch
By: Henry Lazenby 12th January 2018 Space mining hopeful Planetary Resources has successfully launched its latest satellite, the Arkyd-6 – a 6U CubeSat – containing a demonstration of technology designed to detect water resources in space. Planetary reported that the team has already started receiving telemetry from the spacecraft,... →
Smarter mining, manufacture, agriculture needed, says IDC’s Maia 
By: Martin Creamer 12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... →
Gold set for 5th week of gains, buoyed by slump in dollar
By: Reuters 12th January 2018 Gold prices rose for a third session on Friday to hit their highest since September, with a slump in the US dollar helping drive bullion towards its fifth-straight weekly gain. Spot gold had edged up 0.5% to $1 328.84/oz by 0703 GMT, after earlier touching its highest since Sept. 15 at $1 330.34. →
Strong commodity price rally lifts IHS Materials Price Index for ninth consecutive week
By: Henry Lazenby 12th January 2018 The IHS Materials Price Index (MPI) is in its ninth consecutive week of gains, jumping 2.8% last week – the strongest weekly performance since early September. According to IHS Markit economist Cole Hassay, the MPI was supported by broad-based positive indicators, with eight of ten subcomponents... →
Gold set to gain from retail, geopolitical risks, hedging
By: Megan van Wyngaardt 11th January 2018 The gold price is expected to increase in the year ahead, driven by stronger interest from Asian retail investors and consistent interest in global gold exchange-traded funds, according to research firm Thomson Reuters GFMS. The firm highlighted on Thursday that the efficient frontier theory... →
Dell to recycle gold from e-waste for use in new motherboards, jewellery
By: Megan van Wyngaardt 11th January 2018 Technology company Dell is piloting a project to recover gold from used electronics for use in new computer motherboards and jewellery. Dell has partnered with Wistron GreenTech, which uses an environmentally responsible extraction process to break the used electronics down into individual... →
Bank of China sees commodities in full bloom amid 2018 rotation
By: Bloomberg 11th January 2018 The stage may be set for commodities to extend their stellar gains, according to Bank of China International analysts. By the fourth quarter copper will average $7 500/t and gold $1 400/oz, they wrote in a note this week, as financial drivers potentially outweigh fundamentals in 2018. In other... →
Rio Tinto receives offer for aluminium smelter
By: Martin Creamer 10th January 2018 Diversified mining company Rio Tinto has received a binding offer from Liberty House to acquire Rio Tinto’s Aluminium Dunkerque smelter in northern France for $500-million. In accordance with French law, the London-listed company will launch a consultation process with employees, relevant... →
Lithium at depth in Namibia – Montero 
By: Martin Creamer 10th January 2018 Significant concentrations of lithium mineralisation have been established in Namibia, where Montero Mining and Exploration has completed assaying historical drilling results. The Toronto Venture Exchange-listed company announced on Wednesday that lithium-bearing mineralisation, found to be... →
Montero CEO Dr Tony Harwood
Congo may more than double tax on critical global cobalt supply
By: Bloomberg 10th January 2018 The Democratic Republic of Congo is preparing to more than double a tax on two-thirds of global cobalt supply, potentially increasing the cost of the critical battery metal just as the world begins to embrace electric vehicles. Congo, the world’s biggest cobalt producer, will increase the royalty... →
Gundlach says commodities set to outperform in late-cycle boom
By: Bloomberg 10th January 2018 Jeffrey Gundlach, the billionaire bond manager, said commodities may be one of the best investments this year as they surge during the late phase of the economic cycle. “I think commodities will outperform in 2018,” Gundlach said during his annual ‘Just Markets’ webcast on Tuesday, in which he... →
Tharisa enters 2018 with a bang
By: Martin Creamer 10th January 2018 The market fundamentals for chrome remain sound with continued growth forecast for the global stainless steel industry, Tharisa said on Wednesday, when it reported a strong operational performance in the three months to December 31. The Johannesburg Stock Exchange-listed chrome and platinum group... →
Copper hits two-week low, zinc at highest in more than a decade
By: Reuters 9th January 2018 Copper hit a two-week low on Monday, weighed down by a stronger dollar and as the market consolidated following sharp gains in December, while zinc again reached its highest in more than a decade on supply concerns. The dollar rose against the euro, making dollar-priced metals costlier for... →
Nautilus secures bridge loans, inks new funding mandate
By: Henry Lazenby 9th January 2018 Marine mining hopeful Nautilus Minerals has arranged bridge financing of about $7-million from Deep Sea Mining Finance, to assist the company's immediate working capital requirements. The loans will also allow the Canadian company to make the payments required to continue with the development of... →
Kimberley’s diamond endowment given new sparkle
By: Martin Creamer 8th January 2018 Generations of diamond processing experience, interwoven with modern know-how, is extending the diamond endowment of the city of Kimberley. Kimberley Ekapa Mining Joint Venture (KEM-JV) has come up with a viable business model that returns a diamond sparkle to the city renowned for its... →
Coal dwarfs battery metals in mining deals despite war on pollution
By: Reuters 8th January 2018 Coal and iron-ore dominated mining takeovers in 2017, Thomson Reuters data shows, with buyers favoring the heavily polluting devil they know over the uncertainties of a battery-powered future. While the biggest deal was in Brazil, China was a top player despite planning to reduce domestic coal... →
Lithium Chile shakes up corporate profile in alignment with lithium aspirations
By: Henry Lazenby 4th January 2018 Chile-focused lithium junior Lithium Chile has revamped itself to better align its corporate image with its aspiration of becoming a go-to lithium producer in the country – the world’s largest and lowest-cost producer of the energy metal. Based in Vancouver, Lithium Chile shareholders voted in... →
Gold ETF starts 2018 with record winning streak as dollar falls
By: Bloomberg 3rd January 2018 Call it a new golden age. The SPDR Gold Shares ETF (ticker GLD) kicked off 2018 with an advance of 1.2% on January 2, extending its streak of gains to 11, a record. It retreated slightly at the start of regular trading on January 3, but is still up for the year. →
Nutrien gains on first trading day as Agrium, PotashCorp complete merger
By: Henry Lazenby 3rd January 2018 The TSX-listed equity of freshly minted fertiliser producer, distributor and retailer Nutrien gained nearly 6% on Tuesday – its first trading day following closure of the transaction on New Year’s day. The ‘merger of equals’ has created a new top-tiered fertiliser company with a total market... →
Gold's bulls and bears have plenty to chew over in New Year
By: Bloomberg 29th December 2017 It is not just politics that’s polarised right now. Gold investors are also split down the middle. A Bloomberg survey of 38 market professionals shows a $700 divide between the most optimistic and most pessimistic forecasts for prices next year. That leaves the median estimate of $1 290/oz at... →
Year's best commodities fund is betting on 2018 mining M&A
By: Bloomberg 29th December 2017 This year’s best-performing commodity fund is betting on more mining companies turning to deal-making for growth in 2018. Commodity Capital Global Mining Fund racked up returns of 106% this year, the best performance among 409 commodity-focused funds tracked by Bloomberg, excluding... →
Water shortfall shutters Centerra’s Mount Milligan mill
By: Henry Lazenby 27th December 2017 Drier-than-normal spring and summer weather conditions, combined with unexpectedly frigid temperatures during the current quarter, have contributed to a water shortage at Centerra Gold’s Mount Milligan mill, in British Columbia, forcing the company to temporarily shutter the plant. The... →
Mount Milligan, BC
Kazatomprom records tidy profit on Westinghouse Electric Company stake sale
By: Henry Lazenby 27th December 2017 The National Atomic Company of the Republic of Kazakhstan (Kazatomprom) has recorded a profit of $85-million after it sold its 10% stake in US-based Westinghouse Electric Company, which filed for Chapter 11 bankruptcy protection in March. Kazatomprom has exercised its rights under a put option... →
Even with Trump minerals order, US miners seen trailing China
By: Reuters 23rd December 2017 Even if Donald Trump’s initiative on 'critical minerals' strengthens the US mining industry, domestic companies would still struggle to compete with low-cost Chinese competitors, according to Bloomberg Intelligence. The president signed an executive order this week to identify new US sources of... →
Retrenched Gupta mine employees fail to receive pay
By: Martin Creamer 22nd December 2017 Forty-four people retrenched from the Shiva Uranium Mine in North West belonging to the Gupta company Oakbay have failed to receive expected December pay that formed part of an agreed retrenchment package, Democratic Alliance (DA) councillor Maritha Coetzee told Mining Weekly Online on Friday.... →
Global copper deficit grows to 181 000 t during first three quarters of 2017
By: Henry Lazenby 21st December 2017 The global copper supply deficit has grown to 181 000 t during the first three quarters of 2017. According to the latest assessment conducted by the Lisbon, Portugal-based International Copper Study Group (ICSG), stagnant refined copper supplies, in combination with strong Chinese apparent usage... →
SP Angel outlines key 2018 trends as battery raw materials heat up
By: Creamer Media Reporter 21st December 2017 London-based brokerage SP Angel has outlined the key trends that characterised the basket of energy metals during 2017 and the the outlook for 2018 in its new ‘Battery Raw Material Review, Outlook – SP Angel Commodity Research Book’ published on Wednesday. The report pointed out that the... →
Zimnisky Diamond Price Index rises as demand improves
By: Henry Lazenby 20th December 2017 The Zimnisky Global Rough Diamond Price Index has gained 2.7% up to mid-December, with polished prices are down 3.5% in the same period, diamond analyst Paul Zimnisky said in a new blog post. The reason for this, according to the New York-based analyst, is that 2017 has been a year of excess... →
BHP says likely to quit global coal lobby group
By: Reuters 19th December 2017 Global miner BHP Billiton said on Tuesday it has taken a preliminary decision to quit the World Coal Association citing disagreement over climate change, and might also withdraw from the US Chamber of Commerce over mining industry rules. BHP, which has largely quit mining coal for power plants... →
Rio recalibrating understanding of Africa, working on Africa strategy
By: Martin Creamer 19th December 2017 Diversified mining company Rio Tinto is recalibrating its understanding of Africa and working on an Africa strategy that is scheduled to be presented to the company’s executive committee next year. The company, which has the Rössing Uranium Mine in Namibia, Richards Bay Minerals (RBM) in South... →
Miners to focus on M&A activity, sustainability in year ahead
By: Megan van Wyngaardt 18th December 2017 Nearly two-thirds, or 63%, of mining and metals respondents to the latest EY Capital Confidence Barometer (CCB) say they intend to pursue deals in the next 12 months, demonstrating a higher inclination to transact than the average across all industries (56%). The findings support the EY third... →
Australia cobalt rush accelerates on electric vehicle demand, DRC troubles
By: Reuters 15th December 2017 Australia, home to the world's second-biggest cobalt reserves, is seeing a rush of interest in projects still years from production as makers of batteries used in electric vehicles (EVs) seek supplies of the metal from a more costly but less risky source than top miner, the Democratic Republic of... →
Space mining is getting close to reality
By: Rebecca Campbell 15th December 2017 Space mining – the mining of bodies and other worlds in outer space for minerals and other natural resources – remains within the realm of science fiction. For now. But, during the younger years of most of the world’s current senior mining executives, personal communication devices (cellphones)... →
Electronic waste at new high, squandering gold, other metals – study
By: Reuters 14th December 2017 Electronic waste rose to a record 45-million tonnes worldwide in 2016, squandering valuable metals such as gold and copper since few trashed televisions, cellphones or other products get recycled, a UN-backed study showed on Wednesday. Rising incomes and falling prices for everything from solar... →
Fed spells relief for gold traders worried over rate-hike pace
By: Bloomberg 14th December 2017 Spot gold headed for the biggest gain in three weeks after Federal Reserve officials stuck with a projection for three interest-rate increases in the coming year, easing concerns that quickening economic growth would spur an even faster pace of monetary tightening. By a 7-2 vote, the Fed on... →
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