R/€ = 16.82 Change: 0.03
R/$ = 15.68 Change: 0.07
Au 1865.32 $/oz Change: 8.04
Pt 957.12 $/oz Change: -14.88

Middle East News

London copper falls on fears of Sino-US tensions, China inventory glut

By: Reuters     3rd December 2021 London copper eased on Friday, hit by Asian stock markets turning risk averse on concerns over Sino-US ties after ride-hailing giant Didi announced delisting in New York and signs of rising inventories in top consumer China. Three-month copper on the LME was down 0.5% at $9 460.5 a tonne, as of... 

Climate change mitigation is about more than just emission reduction, says the RMF

By: Marleny Arnoldi     2nd December 2021 Even though mining companies’ commitments to become carbon neutral are commendable and important, emission reduction is but one element of a responsible response to climate change, says independent research organisation the Responsible Mining Foundation (RMF). Research by the RMF reveals that... 

Platinum bullion continues to enjoy investor interest

By: Marleny Arnoldi     2nd December 2021 Precious metals bullion exchange BullionVault has reached an investment landmark in that its clients’ platinum holdings have hit the 2 t mark, worth almost $65-million at current prices. While gold took the lion’s share of precious metals investment since January 2020, platinum investing has... 

Gold falls to one-month low on Powell's hawkish remarks

By: Reuters     2nd December 2021 Gold plumbed a one-month low on Thursday as US Federal Reserve chairman Jerome Powell's comments on the need to tame inflation bolstered bets for faster monetary policy tightening and offset Omicron-driven safe-haven inflows into bullion. Spot gold fell 0.4% to $1 775.80 per ounce by 11:02 GMT,... 

Gold falls to one-month low on Powell's hawkish remarks

Use renewables to cut carbon and create hydrogen, use hydrogen to cut diesel – Cutifani   

By: Martin Creamer     2nd December 2021 Use renewables to cut carbon and create hydrogen, and then use the hydrogen that has been created to replace diesel. Anglo American CE Mark Cutifani proposed this climate blueprint while also outlining his London- and Johannesburg-listed mining company’s entry into crop nutrients that can free up... 

Creamer Media screenshot during GlobeScan climate webinar
GlobeScan climate event covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

EV industry must work closer with lithium suppliers, executives say

By: Reuters     2nd December 2021 Automakers must work closer with lithium producers to guarantee supply of specialized types of the white metal that boost an electric vehicle's range and performance, Albemarle Corp and Livent Corp executives told the Reuters Next conference on Wednesday. As... 

Gold Fields’ South Deep solar project now 50 MW, equivalent wind planned 

By: Martin Creamer     1st December 2021 South Deep gold mine in Gauteng, where a 40 MW solar power project was initially announced, will now have a 50 MW solar plant as a result of the procurement of more efficient solar panels. Mining Weekly can report that the construction of the R715-million solar power plant at South Deep will... 

Creamer Media screenshot taken at Gold Fields ESG online presentation
Photo by Creamer Media
Gold Fields CEO Chris Griffith

Sable to undertake rights issue at R1 a share followed by transaction at R5 a share  

By: Martin Creamer     1st December 2021 The rights issue that Johannesburg Stock Exchange-listed Sable Exploration and Mining is to undertake at R1 a share will be followed by a transaction at R5 a share, giving an immediate fivefold uplift to the shareholders of the company. This follows mining company Magni Investment Holdings... 

Creamer Media picture taken at JSE.
Sable’s James Allan interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer Media

China's companies are going to any length for a hold on lithium

By: Bloomberg     1st December 2021 Automobile executives in China have had a lot to contend with this year. But those operating in the electric-car space (which is almost everyone these days) have had it especially tough. Not only has the world’s biggest EV market become even more crowded in 2021 but the explosive sales —... 

Even the battery boom can’t escape world’s supply chain woes

By: Bloomberg     1st December 2021 Soaring commodity prices and supply chain bottlenecks threaten to push up the cost of batteries seen as crucial in the fight against climate change. Higher raw material costs could push the average price of a lithium-ion battery pack to $135 per kilowatt-hour in 2022, a 2.3% gain from this year’s... 

London copper rises as Omicron concerns ease

By: Reuters     1st December 2021 Copper prices rebounded on Wednesday on easing concerns about the new Omicron coronavirus variant that has rattled market sentiment in recent days. Three-month copper on the London Metal Exchange rose 1.1% to $9 545 a tonne by 0701 GMT, having lost 0.6% in November. 

Barclays’ analysts back Glencore coal strategy  

By: Martin Creamer     1st December 2021 Glencore’s coal strategy favours a Paris-compliant coal runoff, which increases investability, say Barclays’ equity research analysts in a note. Analysts Ian Rossouw, Amos Fletcher and Tom Zang see little value to unlock in the current coal market environment and question whether a coal business... 

Screenshot of Barclays, Glencore and Bloomberg research
Photo by Barclays
Coal, copper and diversified index

Gold climbs as Moderna CEO's warning rattles risk appetite

By: Reuters     30th November 2021 Gold climbed higher on Tuesday as investors sought safe havens again after Moderna's CEO warned Covid-19 vaccines were likely to be less effective against the Omicron variant, putting bullion on course for a second straight monthly gain. Spot gold rose 0.4% to $1 792.23 per ounce by 1255 GMT,... 

Copper under pressure on Omicron uncertainty

By: Reuters     30th November 2021 Copper prices came under pressure on Tuesday due to worries about the Omicron coronavirus variant and its impact on demand and growth, but above consensus manufacturing data from top consumer China and low stocks limited the losses. Benchmark copper on the London Metal Exchange traded down 0.8%... 

Carbon-neutral nickel launch showcased by South Africa-linked chairperson  

By: Martin Creamer     30th November 2021 South Africa-linked Gareth Penny on Monday heralded the launch of a carbon-neutral nickel with a difference in that it steers completely clear of any reliance on third-party carbon credits. Penny did so in his capacity as nonexecutive chairperson of Nornickel of Russia – and put sharper focus on... 

Creamer Media screenshot taken during Nornickel capital markets day 2021
Nornickel capital markets day covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Gold industry has a supporting role to play as world still in a ‘fragile place’ – WGC 

By: Simone Liedtke     30th November 2021 Thirty-one of the World Gold Council’s (WGC’s) member companies collectively contributed $37.9-billion, in the form of taxes, salaries and payments to suppliers, to the gross domestic product of the countries in which they operate during 2020. This represents 63% of the total revenue these... 

Pic of mine workers standing in line - social distancing

Search under way at Impala Rustenburg after mud rush traps five

By: Martin Creamer     29th November 2021 A search and rescue operation was under way at Impala Rustenburg after a mud rush at 6 Shaft on Monday. All operations at Impala Rustenburg's 6 Shaft and 16 Shaft complexes have been suspended until a full and comprehensive report is available. 

Supplied picture
All operations at Impala Rustenburg's 6 Shaft and 16 Shaft complexes have been suspended. Shown here is 16 Shaft.

RBPlat bid embodies socioeconomic boost for greater Rustenburg region – Implats  

By: Martin Creamer     29th November 2021 The bid by Impala Platinum Holdings Limited (Implats) for a majority shareholding in Royal Bafokeng Platinum (RBPlat) presents an opportunity to create sizeable Western Limb production base with socioeconomic benefits for the region, platinum group metals (PGM) mining company Implats said on... 

Supplied picture
Implats’ offer to Royal Bafokeng Platinum covered by Mining Weekly’s Martin Creamer: Video: Darlene Creamer.

London copper firms as investors weigh Omicron impact

By: Reuters     29th November 2021 London copper prices rose on Monday, recouping some of last week's losses fuelled by the newly identified coronavirus variant, with markets trying to gauge its severity and its possible impact on economic recovery. Three-month copper on the London Metal Exchange rose 1% to $9 550 a tonne by... 

Froneman tells world of Sibanye’s confidence in hydrogen economy  

By: Martin Creamer     26th November 2021 Platinum group metals (PGMs) are poised to be a very significant underpin in the green hydrogen economy and Sibanye-Stillwater is intent on ensuring that the supply of PGMs is sustainable and that the company is part of the global climate change solution, Sibanye CEO Neal Froneman told a global... 

Creamer Media screenshot
Sibanye-Stillwater hydrogen presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Copper falls on new coronavirus variant jitters

By: Reuters     26th November 2021 London copper prices fell on Friday as a newly identified Covid-19 variant in South Africa and expectations of faster-than-expected US rate hikes fuelled concerns of an economic slowdown. Three-month copper on the London Metal Exchange dipped 0.6% to $9 741 a tonne by 02:50 GMT. The most-traded... 

Copper falls on new coronavirus variant jitters

Gold jumps as new virus variant fears grip investors

By: Reuters     26th November 2021 Gold gained on Friday as concerns about a hit to the global economic recovery, due to the spread of a new coronavirus variant identified in South Africa, drove investors to the safety of bullion. Spot gold jumped 0.9% to $1 805.26 per ounce by 09:51 GMT. US gold futures advanced 1.2% to $1 805.20. 

No reason why Eskom can’t make reliable comeback – Sir Mick Davis  

By: Martin Creamer     25th November 2021 There is no reason why Eskom cannot return to a situation where it can be a credible, reliable supplier of reasonably priced electricity, Sir Mick Davis said on Thursday. “Eskom is a resolvable problem," said Davis, a former Eskom CFO and now back in critical minerals and metals mining in the... 

Picture of Sir Mick Davis
Sir Mick Davis in conversation with Ann Bernstein, covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer

Law firm creates outsourced compliance solution for mining industry 

By: Martin Creamer     25th November 2021 A specialist mining law firm, which prefers people to paper, has created an outsourced compliance solution for Africa’s mining industry. NSDV will not simply rely on the paper trail when a client calls with an issue, but instead phone, WhatsApp, or drive there and chat to the officials. 

NSDV supplied picture
NSDV director and co-founder Lili Nupen

Chinese miners eye Afghanistan’s mineral reserves

By: Bloomberg     25th November 2021 Chinese firms are showing interest in exploiting Afghanistan’s vast untapped mineral resources as Beijing seeks a role in reconstructing the nation’s war-ravaged economy. Afghanistan is sitting on deposits estimated to be worth $1-trillion or more, including what may be the world’s largest... 

Very strong platinum imports into China – WPIC 

By: Martin Creamer     24th November 2021 Many things could play out next year that have the potential to materially reduce the substantial platinum surplus that the World Platinum Investment Council (WPIC) is forecasting for next year, Mining Weekly can today report. Among these is the very strong current importation of platinum into... 

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World Platinum Investment Council Director of Research Trevor Raymond interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Despite accelerated IoT adoption, unreliable connectivity still a key barrier

By: Simone Liedtke     23rd November 2021 Research by mobile satellite communications company Inmarsat reveals that, despite the accelerating speed of Internet of Things (IoT) adoption over the course of the Covid-19 pandemic, poor or unreliable connectivity is a key barrier limiting the success of IoT projects for most organisations in... 

Namibia heading for world record green hydrogen costs, conference hears  

By: Martin Creamer     22nd November 2021 With its vast potential for wind and solar energy, Namibia is excellently placed to become a global player in green hydrogen production, the Africa Green Hydrogen Forum's virtual conference heard on Monday, when green hydrogen was highlighted as the key decarbonisation vector in the global fight... 

Creamer Media screenshot
African Green Hydrogen webinar covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Battery-grade nickel demand to grow as world sets sights on low-carbon future 

By: Simone Liedtke     19th November 2021 The global green transition and electrification of transport has started a paradigm shift in the demand dynamics of metals, which are required for a low-carbon future, and are set to experience a significant boost in demand in the coming decade at least, says research agency Fitch Solutions.... 

Glencore sets ‘just transition’ from coal in promising motion with wheat pilot project  

By: Martin Creamer     18th November 2021 Glencore has set the ‘just transition’ in promising motion with a highly successful winter wheat pilot project in Mpumalanga, South Africa’s province of coal mining and coal-fired power generation. The programme, which began in April, has been described as being hugely successful in demonstrating... 

Glencore supplied picture
Glencore ‘just transition’ pilot project explained to Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

There’s two decades more demand for coal in Asia, exporter says

By: Bloomberg     18th November 2021 Demand for coal will remain strong for at least two more decades even as nations take action to decarbonise, according to New Hope, a major Australian exporter. “Many communities, particularly the large cities of Asia, will require coal for affordable and accessible base load energy provided by... 

An image of coal mining

Silver demand to hit 6-year high, set to exceed 1-billion ounces

By: Creamer Media Reporter      18th November 2021 Global silver demand is set to touch a six-year high this year, helped by a recovery in industrial demand from the pandemic and an increase in physical investment, says the Silver Institute said a new report. Demand is set to reach 1.29-billion ounces this year, the first time it will exceed... 

An image of silver bars

Hydrogen demand to rise to 140m tonnes in 2030

By: Simone Liedtke     17th November 2021 Yearly demand for hydrogen is expected to rise from about 90-million tonnes today to 140-million tonnes in 2030, with green hydrogen having a 20% share. However, the World Platinum Investment Council (WPIC) says that, in supplying more than 30-million tonnes of green hydrogen, this level of... 

Green hydrogen advocate Forrest slams oil, gas as ‘anathema methane mines’  

By: Martin Creamer     17th November 2021 Oil and gas plants are methane mines and opening new ones is an anathema that fails to take the livelihoods of today’s offspring seriously, says Fortescue Metals Group chairperson and green hydrogen protagonist Andrew Forrest. “I argue strongly that opening up a new coal mine, or even a methane... 

Creamer Media screenshot
CNN clip showing Amanpour interview.

Green hydrogen could compete with gray in a decade, Engie says

By: Bloomberg     17th November 2021 Green hydrogen, a clean energy source made from water and renewable power, could become competitive in a decade, according to French utility Engie. That relies on Europe setting up the necessary regulatory framework to drive up demand and slash costs, Sebastien Arbola, the company’s head of... 

Copper settles down at last, a month after big squeeze

By: Bloomberg     17th November 2021 A month after an unprecedented squeeze roiled the copper market, a short-term spread is back to normal levels as rising exchange inventories relieve the pressure on buyers. The spread between spot and three-month contracts on the London Metal Exchange eased to a $32.50-a-ton premium by Monday’s... 

Zambia going all out to up green energy, copper with private-sector at helm  

By: Martin Creamer     16th November 2021 Zambia zoomed into town today and did all it could to sweep investors off their feet with pledges to be private-sector driven, surge into green energy, and do everything it can to regain top spot in global copper at a time when the metal is set to play such a key role in the fight against climate... 

Creamer Media added to Webber Wentzel image.
Webber Wentzel Zambia event covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Saudi Arabia continues talks with South African investors to further support mining ecosystem 

By: Simone Liedtke     16th November 2021 Saudi Arabia recognises the importance of building lasting international partnerships to support its minerals ecosystem – a move that will ultimately result in the mapping of the kingdom’s mineral-rich territories for the benefit of all local and international investors. Saudi Arabia Vice... 

Pic of Saudi Arabia Vice Minister of Industry and Mineral Resources Khalid Al-Mudaifer
Saudi Arabia Vice Minister of Industry and Mineral Resources Khalid Al-Mudaifer
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