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Middle East News

South Africans urged to turn exploration into Big Hairy Audacious Goal   

By: Martin Creamer     24th September 2022 South Africans have been urged to rally around exploration as this country's Big Hairy Audacious Goal – a BHAG – so that what is described as "our lowest hanging economic fruit" can be turned to positive account. Council for Geoscience CEO Mosa Mabuza, who was speaking in support of the junior... 

New fund-raising product appropriate for junior miners, says JSE  

By: Martin Creamer     23rd September 2022 The JSE has a new product that is appropriate for fund-raising by junior mining companies, JSE origination and deals head Sam Mokorosi said on Friday. Mokorosi, who was speaking at Minerals Council South Africa’s Junior and Emerging Miners Desk webinar, highlighted the new product against the... 

JSE origination and deals head Sam Mokorosi.
Minerals Council South Africa’s Junior Miner Webinar covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Green hydrogen at sea on world-first offshore demonstrator platform  

By: Martin Creamer     23rd September 2022 The world’s first offshore green hydrogen production demonstrator platform has been positioned offshore of France. “This is the first time that renewable hydrogen will be produced at sea,” French company Lhyfe stated in a release to Engineering News & Mining Weekly. (Also watch attached Creamer... 

Lhyfe producing green hydrogen at sea.
Green hydrogen at sea initiative. Lhyfe technical director Thomas Créach interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Copper prices averaging lower than expected this year, but major uptick looms

By: Marleny Arnoldi     23rd September 2022 Research agency Fitch Solutions Country Risk & Industry Research has revised downward its copper price forecast for this year to about $8 800/t, down from $9 470/t it anticipated previously. The agency says investor sentiment for copper has been weakening, as has demand for the base metal, in... 

China may find it hard to cool lithium’s rally this time around

By: Bloomberg     23rd September 2022 Scorching gains for lithium, a raw material vital for powering electric vehicles, threaten to push costs even higher for Chinese battery makers, and the government is finding itself powerless to do anything about it. Even after a meeting last week where Chinese authorities pleaded with major... 

An image of lithium ore

Northern Cape’s proposed green hydrogen hub can help open region’s full energy potential 

By: Martin Creamer     22nd September 2022 The Boegoebaai green hydrogen hub in the Northern Cape can be a strategic project to open Southern Africa’s full green energy potential. A 24-month study of the strategic potential of the hub is within a hair’s breadth of reaching the halfway mark. 

Sasol hydrogen programme management head Rilet Davison.
Sasol hydrogen programme management head Rilet Davison.

Rio Tinto, Shougang to collaborate on finding low-carbon solutions in the steel value chain

By: Creamer Media Reporter      22nd September 2022 Diversifed miner Rio Tinto and Chinese steel producer Shougang Group have signed a memorandum of understanding (MoU) to promote research, design and implementation of low-carbon solutions for the steel value chain. The MoU’s focus areas include low-carbon sintering technology, blast furnace (BF)... 

Photo of a steel blast furnace

ICMM roadmap aims to assist in drastically reducing tailings waste 

By: Tasneem Bulbulia     22nd September 2022 Member organisation the International Council on Mining and Metals (ICMM) has published a Tailings Reduction Roadmap, which outlines approaches and solutions that it posits are capable of considerably reducing tailings from the mine life cycle, as part of a broader Tailings Innovation Initiative.... 

A satellite image of the Jagersfontein area after a tailings dam collapsed on September 11
A satellite image of the Jagersfontein area after a tailings dam collapsed on September 11

Top gold CEOs say soaring costs will hobble mining industry into 2023

By: Bloomberg     22nd September 2022 The world’s top gold mining executives see cost pressures sticking around into next year, adding to industry headwinds fueled by economic and political uncertainty, supply-chain disruptions and surging interest rates. Those gathering at the Denver Gold Forum this week shared a collective view... 

An image of gold bars

Gold recovers as Russian threats drive investors to safe-haven asset

By: Reuters     21st September 2022 Gold rose on Wednesday as Russian President Vladimir Putin's move to mobilize more troops over the conflict in Ukraine drew investors to the safe-haven asset, offsetting pressure from a firmer dollar and expected US rate hikes. Spot gold rose 0.7% to $1 674.19/oz by 13:48 GMT. US gold futures... 

World’s largest battery-electric mine truck heading for commercial availability in 2024   

By: Martin Creamer     21st September 2022 The world’s largest battery-electric truck for underground mining is on its way to becoming commercially available in 2024. Sandvik’s 65 t TH665B machine removes between 1 t and 2 t of carbon dioxide (CO2) a day, along with heat and noise. 

Jakob Rutqvist, Sandvik VP strategy and commercial for battery and hybrid/electric-vehicles business unit of Sandvik Mining & Rock Solutions.
Sandvik VP Jakob Rutqvist interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

New CEO sees great opportunity to boost efforts to increase platinum investor numbers 

By: Martin Creamer     21st September 2022 New World Platinum Investment Council (WPIC) CEO Trevor Raymond – working closely with WPIC leadership and a wider team – describes as great the opportunity to boost efforts to increase the number of investors globally who are considering allocating to platinum, amid the forceful worldwide... 

New World Platinum Investment Council CEO Trevor Raymond.
New World Platinum Investment Council CEO Trevor Raymond.

Europe upstages China as main driver for copper outlook

By: Reuters     20th September 2022 Shrinking copper demand in Europe due to a manufacturing recession caused by the energy crisis will dominate market sentiment for some time with prices likely to retreat towards two-year lows early next year. Copper prices typically react to the ebb and flow of demand in China, which accounts... 

EU-like energy approach needed in Southern Africa, says Namibia presidential adviser  

By: Martin Creamer     20th September 2022 A collaborative energy approach, like that of the European Union (EU), is needed in Southern Africa, says Namibia’s Presidential economic advisor James Mnyupe. At least South Africa and Namibia should put together a case that shows seriousness about decarbonising Sub Saharan Africa, says Mnyupe,... 

Namibia’s presidential economic adviser James Mnyupe.
Namibia’s presidential economic adviser James Mnyupe.

International collaboration critical to accelerate transition to sustainable energy future 

By: Schalk Burger     20th September 2022 Intergovernmental organisation the International Energy Agency (IEA) in its 'Breakthrough Agenda Report 2022' says international collaboration will be critical to successfully transition to sustainability, given the global scale and fast pace of change that is required. "Action by governments and... 

A photo of renewable vs coal-fired power

Gold miners predict $1 800/oz comeback

By: Bloomberg     20th September 2022 Not even the most hawkish Federal Reserve in decades can beat down the exuberance of gold enthusiasts at the industry’s biggest annual gathering. Bullion prices will reach $1 806.10 an ounce by year end, according to the average estimate in a survey of 10 participants at the Denver Gold Forum,... 

Gold miners predict $1 800/oz comeback

Minerals Council urges faster inclusion of private electricity suppliers 

By: Martin Creamer     19th September 2022 The Minerals Council South Africa supports President Cyril Ramaphosa’s electricity recovery plan and urges more rapid private sector participation in resolving the country’s deepening electricity crisis. Minerals Council members have 6 500 MW of embedded energy projects in the pipeline which will... 

Minerals Council South Africa CEO Roger Baxter.
Minerals Council South Africa CEO Roger Baxter.

Lithium resumes insane gains to add pressure on automakers

By: Bloomberg     19th September 2022 After Elon Musk complained that lithium — the ubiquitous raw material needed in electric vehicle batteries — was trading at insane levels, and China’s authorities in March pushed key industry players to act, prices briefly began to cool. Now, they’re rising again to add pressure on automakers.... 

Russia’s secret gem sales are dividing the diamond world

By: Bloomberg     19th September 2022 The secretive sale of Russian diamonds, worth hundreds of millions of dollars every month, is fracturing the global trade that stretches from cutting factories in Mumbai to luxury stores on New York’s Fifth Avenue. Many in the industry refuse to deal in Russian gems following the invasion of... 

An image of diamonds at a market in India

Lithium smashes new record as supply struggles to feed EV growth

By: Bloomberg     16th September 2022 The surge in prices of lithium, the key battery material used to power electric cars, is seemingly unstoppable. Lithium carbonate hit a fresh record of 500 500 yuan ($71 315) a ton in China Friday, according to data from Asian Metal Inc. Prices more than tripled in the past year, inflating the... 

Lithium smashes new record as supply struggles to feed EV growth

Glencore looking to trade lithium on soaring EV demand - sources

By: Reuters     16th September 2022 Mining and commodity giant Glencore is looking to add lithium to the suite of metals it trades, as the raw material is in hot demand due to the rapidly growing production of electric vehicles (EVs), two sources with knowledge of the matter said. If it goes ahead, the Switzerland-based company's... 

PGMs demand from hydrogen to eclipse 100 000 oz from next year, report calculates 

By: Martin Creamer     16th September 2022 From next year, platinum group metals (PGMs) demand in the hydrogen sector will eclipse 100 000 oz for the first time, according to Metal Focus’ Hydrogen Economy Quarterly Service. Catalysed by the global shift to clean energy, the metals will see year-on-year double-digit growth over the next... 

Demand for platinum group metals forecast to rise sharply.
Demand for platinum group metals forecast to rise sharply.

London zinc extends gains for sixth day on supply worries

By: Reuters     15th September 2022 Prices of London zinc were on track for their sixth straight session of gains on Thursday, as rising energy costs prompted smelters to close and fuelled worries about supply disruptions. Three-month zinc on the London Metal Exchange was up 0.5% at $3 244 a tonne, as of 07:29 GMT, having gained... 

Global collaboration essential to realise $1.4tr iron, steel decarbonisation investment

By: Marleny Arnoldi     15th September 2022 To meet 2050 climate goals, the global iron and steel industry will require $1.4-trillion of investment across the value chain, from mining to steelmaking, estimates research and consultancy firm Wood Mackenzie (WoodMac). A research report, titled ‘Pedal to the metal: iron and steel’s... 

Steel

Anthracite prospects looking very good – Menar  

By: Martin Creamer     15th September 2022 The prospects for anthracite are looking very good, especially in terms of market value and having demand coming from different parts of the world, says Menar MD Vuslat Bayoglu, who was speaking to Mining Weekly in a Zoom interview. (Also watch attached Creamer Media video.) Bayoglu reports that... 

Menar MD Vuslat Bayoglu.
Menar MD Vuslat Bayoglu interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Pan African effectively building new underground gold mine at Evander  

By: Martin Creamer     14th September 2022 Midtier Africa-focused gold producer Pan African Resources is effectively building a new internally-funded underground gold mine on two levels of the Evander underground gold mine in Mpumalanga, CEO Cobus Loots said on Wednesday when the company reported record production for the 12 months to... 

Pan African Resources CEO Cobus Loots.
Pan African CEO Cobus Loots interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Copper, aluminium fall as markets brace for US rate hikes

By: Reuters     14th September 2022 Copper and aluminium prices fell on Wednesday as the threat of rising interest rates dampened the economic growth outlook, hammered global stock markets and held the dollar near 20-year highs. Data on Tuesday showing higher-than-expected US inflation cemented expectations for a 75 basis points... 

Pan African reports record gold production, matches last year’s dividend

By: Martin Creamer     14th September 2022 Gold mining company Pan African Resources, which reported record gold production in the 12 months to June 30, describes itself as being positioned for further growth as it moves closer to commissioning organic projects and concludes the Mintails surface gold transaction. The London- and... 

PGMs hotter than ever amid upcoming SAIMM greener world collaboration event  

By: Martin Creamer     13th September 2022 Platinum group metals (PGMs) as global decarbonisation and environmental, social and governance (ESG) enablers have arguably never been a hotter topic globally, which will be highlighted at the upcoming in-person conference of the Southern African Institute of Mining and Metallurgy (SAIMM) at Sun... 

Implats executive: sustainable development Dr Tsakani Mthombeni, who will speak on ESG and Beyond at the upcoming SAIMM PGMs conference.
Implats Executive: Sustainable Development Dr Tsakani Mthombeni (above). SAIMM’s Gary Lane interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

US aviation fuel developer places order for platinum-based PEM electrolyser

By: Martin Creamer     13th September 2022 A United States aviation fuel developer has placed an order for a containerised platinum-using proton exchange membrane (PEM) electrolyser. Nel Hydrogen received the $3-million contract for the containerised PEM electrolyser to be installed at the world’s first commercial ‘alcohol-to-jet’... 

Proudly South African green hydrogen innovation uses platinum fuel cell 

By: Martin Creamer     12th September 2022 A Proudly South African green hydrogen mobile solution, which is scheduled to be launched at the African Aerospace and Defence Exhibition (AAD) next month, ticks all the local boxes by making use of a platinum-catalysed hydrogen proton exchange membrane fuel cell (PEMFC) and also being able to... 

Jaco Prinsloo and Christo Botha, the key developers of the green hydrogen solution.
Jaco Prinsloo and Christo Botha, the key developers of the green hydrogen solution.

Gold ticks up on softer dollar, US inflation data in focus

By: Reuters     12th September 2022 Gold prices rose on Monday as the dollar fell to a more than two-week low, prompting investors to buy bullion, while markets eyed US inflation data for further clues on Federal Reserve rate hikes. Spot gold was up 0.4% at $1 722.79 per ounce  as of 08:26 GMT. US gold futures rose 0.3% to $1... 

Ministers follow President in visiting Jagersfontein diamond disaster area

By: Martin Creamer     12th September 2022 Following the visit of President Cyril Ramaphosa to the Jagersfontein-Charlesville area in the Free State, Minerals Resources and Energy Minister Gwede Mantsashe will today visit the diamond tailings deposition dam that burst its banks, killing at least one person and destroying homes. Mineral... 

Google map of the Jagersgontein tailings dam, which has burst its banks.
Photo by Google Maps
Google map of the Jagersgontein tailings dam, which has burst its banks.

Glencore clinches green aluminium deals

By: Martin Creamer     9th September 2022 Diversified mining and marketing company Glencore has entered into a ten-year alumina supply and aluminium offtake agreements with global green aluminium subsidiary of Press Metal Aluminium Holdings, a Malaysian stock exchange listed company. The transactions are seen important steps in the... 

Glencore CEO Gary Nagle.
Glencore CEO Gary Nagle.

Boom in lithium production expected over the next decade

By: Schalk Burger     9th September 2022 Global lithium production is expected to grow from 503 500 t lithium carbonate equivalent this year to 2.1-million tonnes in 2031 – an average yearly growth rate of 15.9%, said market research and advisory firm Fitch Solutions Country Risk & Industry Research. There are a significant number of... 

Platinum supply outlook a barrier to global decarbonisation – Davis 

By: Martin Creamer     9th September 2022 The future quantum of global demand for platinum group metals (PGMs) significantly outweighs global supply from 2023 onwards, the latest review carried out by independent precious metals consultant Dr David Davis indicates. Compiled for Auctus Metal Portfolios of Singapore, the review illustrates... 

Independent precious metals consultant Dr David Davis.
Photo by Creamer Media
Independent precious metals consultant Dr David Davis.

Platinum group metals demand lift from hydrogen momentum creating excitement 

By: Martin Creamer     8th September 2022 As a platinum group metals (PGMs) producer, Impala Platinum is excited about the opportunity of hydrogen as a potential new demand source, says Impala Platinum executive: new commodities Seten Naidoo. “The exciting component for us is actually the green hydrogen,” says Naidoo, who was speaking as... 

Impala Platinum executive new commodities Seten Naidoo.
Impala Platinum executive new commodities Seten Naidoo.

The copper market is flashing signs of tight supply

By: Bloomberg     8th September 2022 Copper spreads are spiking in a signal that physical supplies remain tight despite global economic headwinds. The premium for cash copper over three-month futures on the London Metal Exchange rose by as much as 91% on Thursday to a high of $145/t, an indication the market is paying more for... 

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