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Middle East News

ICSG sees copper supply outstripping demand in 2021, 2022

By: Mariaan Webb     5th May 2021 Following a significant copper shortfall last year that drove a price rally, the International Copper Study Group (ICSG) is saying that copper supply will outstrip demand this year and next year. The ICSG is forecasting market surpluses of 80 000 t and 110 000 t for 2021 and 2022, respectively.... 

Use of ruthenium in fuel cells set to turn down as green hydrogen trend turns up – Heraeus  

By: Martin Creamer     4th May 2021 The use of ruthenium in fuel cells is poised to decline in line with the growing trend towards the generation of green hydrogen. “We believe that the use of ruthenium in fuel cells will come down, as the trend to green hydrogen will bring with it purer feeds with less carbon monoxide impurities,... 

Heraeus Precious Metals executive VP new business development and innovation Philipp Walter
Heraeus Precious Metals executive VP Philipp Walter interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

World’s biggest jewellery maker will no longer use mined diamonds

By: Bloomberg     4th May 2021 Pandora, which makes more pieces of jewelry than any other company in the world, will stop using mined diamonds as part of a broader strategy to drop raw materials associated with unethical production methods. Despite decades of reform, the global jewelry market remains tainted by reports of... 

World’s biggest jewellery maker will no longer use mined diamonds

Record metals prices catapult mining profits beyond big oil

By: Bloomberg     3rd May 2021 Major oil producers, for decades the natural resource industry’s top earners, are being eclipsed by once-smaller mining peers who are churning out record profits thanks to red-hot metals markets. The mining windfall is the latest sign of a boom in iron ore, copper and other metals that’s sending... 

Record metals prices catapult mining profits beyond big oil

Promising suite of manganese assets facing extremely attractive manganese fundamentals 

By: Martin Creamer     3rd May 2021 Unlisted empowered mining investment company Ntsimbintle Holdings, which last month grabbed the headlines by becoming the biggest shareholder in the ASX-listed Jupiter Mines Limited, has promising additional manganese mining assets serving a manganese market that observers describe as having... 

Ntsimbintle chairperson Saki Macozoma
Ntsimbintle chairperson Saki Macozoma

First ever Shanghai Platinum Week to be held next month

By: Simone Liedtke     30th April 2021 To develop a stronger domestic platinum-group metals (PGMs) market and to improve domestic and international communication and cooperation, the Precious Metal Industrial Committee at the China Material Recycle Association (PMIC), the Platinum Committee at China Gold Association (PDCGA) and the... 

AP Ventures makes yet another promising hydrogen investment 

By: Martin Creamer     30th April 2021 Venture capital funds manager AP Ventures has made yet another promising investment the fast-growing hydrogen sector, Mining Weekly can today report. AP Ventures Fund II focuses on hydrogen and its role in decarbonising energy and this latest investment is set up to contribute to establishing a... 

AP Ventures founder and partner Kevin Eggers
AP Ventures founder and partner Kevin Eggers

Report reveals poor ESG risk management

By: Donna Slater     30th April 2021 The results of a March study into environment, social and governance (ESG) due diligence and transparency in the extractive commodity trading sector reveals that, while corporate commitments on ESG issues are relatively widespread, these commitments are rarely shown to be translated into... 

PGMs in all three drive trains if Lion Battery initiative is successful – Anglo  

By: Martin Creamer     29th April 2021 If the Lion Battery Technologies initiative proves successful, platinum group metals (PGMs) will feature in all three of the world’s drive trains, Anglo American executive head of PGM market development Benny Oeyen said on Thursday. This would mean that PGMs would not only play key roles in... 

Anglo American executive head of PGM market development Benny Oeyen
Anglo American executive head PGM market development interviewed by Mining weekly’s Martin Creamer. Video: Darlene Creamer

Gold outlook for 2021 positive, despite uncertainty – World Gold Council 

By: Simone Liedtke     29th April 2021 Gold investment demand fell in the first quarter, driven by hefty outflows in gold-backed exchange-traded funds (ETFs) as growing expectations of higher interest rates impacted sentiment, the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ (GDT) report shows. WGC market intelligence... 

Gold outlook for 2021 positive, despite uncertainty – World Gold Council

Mining policy should be hugely supportive of exploration’s multiplier magic – investor  

By: Martin Creamer     28th April 2021 Mining, preceded by exploration, is the greatest economic multiplier of all business activities, including government expenditure, says Integral Asset Management chief investment officer Bruce Williamson. It therefore makes huge sense for government to enact attractive investment-friendly... 

Integral Asset Management chief investment officer Bruce Williamson.
Integral Asset Management CIO Bruce Williamson interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Precious jewellery demand set for continuing recovery, Platinum Guild says  

By: Tasneem Bulbulia     28th April 2021 Following a challenging year for luxury goods marketers in 2020, the latest consumer survey commissioned by worldwide marketing organisation Platinum Guild International (PGI) during the first quarter of 2021 has determined positive sentiment for the jewellery industry, with a strong indication... 

Precious jewellery demand set for continuing recovery, Platinum Guild says

New capacity needed to meet rapid copper demand growth

By: Reuters     28th April 2021 Ample copper supplies next year and in 2023 will keep the market balanced, but miners need to start investing in new capacity now to meet a pick up in demand growth as economies switch to renewable energy. Copper prices at around $9,900 a tonne, close to the record $10,190 a tonne hit in February... 

Tackling climate change could not be more urgent – Anglo American 

By: Martin Creamer     26th April 2021 Tackling climate change could not be more urgent, Anglo American said on Monday when it presented its biannual sustainability performance update. “For the emissions that we control in our business, we have come a long way, delivering our 2020 target to reduce greenhouse gas emissions by 22% a... 

From left, clockwise Mark Cutifani, Anik Michaud and Stephen Pearce
Photo by Creamer Media
From left, clockwise Mark Cutifani, Anik Michaud and Stephen Pearce

Copper jumps to highest since 2011 as demand bets reignite rally

By: Bloomberg     26th April 2021 Copper surged to the highest in a decade on expectations supply will tighten as the global economic recovery gains traction. Prices have climbed amid a broad rally across industrial commodities from iron-ore to aluminum. Economic bellwether copper has been boosted by prospects for rebounding... 

Copper jumps to highest since 2011 as demand bets reignite rally

Anglo explores PGMs-based tech to simplify hydrogen storage in electric vehicles 

By: Martin Creamer     26th April 2021 Diversified mining and marketing company Anglo American, through its platinum group metals (PGMs) business Anglo American Platinum, is partnering with Umicore to research and develop technology that has the potential to transform the way hydrogen can be stored and used to power fuel cell electric... 

Anglo American executive head of PGMs market development Benny Oeyen
Photo by Creamer Media's Donna Slater
Anglo American executive head of PGMs market development Benny Oeyen

Diamond stash worth billions sold off after demand roars back

By: Bloomberg     26th April 2021 The diamond industry’s collapse last year left the biggest producers with billions of dollars of uncut gems stashed away in safes. Now, in a matter of months, they’ve suddenly found buyers. The huge stockpile was built up when the diamond world came to a standstill during the height of the... 

Battery metal rush pits miners against marine biologists

By: Bloomberg     26th April 2021 Controversial plans to mine the ocean floor face a key test this year when a United Nations body unveils rules that could spur the exploitation of hundreds of billions of dollars of battery metals. The International Seabed Authority is preparing to pass regulations in July that could trigger a... 

Battery metal rush pits miners against marine biologists

Saudi State miner Maaden said to name third CEO in 13 months

By: Bloomberg     26th April 2021 Saudi Arabia’s State miner has appointed its third chief executive officer in the past 13 months after the departure of Mosaed Al Ohali, according to people familiar with the matter. Abdulaziz Al Harbi, a senior vice president at Saudi Arabian Mining, will replace Al Ohali as acting CEO until... 

Glencore chair defends pay plan for commodity trader’s new CEO

By: Bloomberg     22nd April 2021 Glencore's chairperson defended an incentive plan for the commodity giant’s new chief executive officer, after prominent advisory firms urged investors to vote against it. Gary Nagle, the handpicked successor of outgoing CEO Ivan Glasenberg, will take over the helm of the world’s biggest... 

Gary Nagle
Gary Nagle

Anglo American lifts first-quarter output on strong copper, PGMs performance 

By: Donna Slater     22nd April 2021 Diversified miner Anglo American managed to meet strong customer demand during the quarter ended March 31, despite some limited constraints at certain operations as a result of Covid-19, CE Mark Cutifani says. He notes that production for the quarter was achieved at 95% of normal operating capacity. 

Anglo American CEO Mark Cutifani
Anglo American CEO Mark Cutifani

Platinum use in vehicle emissions control systems increasing as new regulations kick in – WPIC 

By: Simone Liedtke     21st April 2021 Automotive demand for platinum is expected to grow by 25% year-on-year to reach almost three-million ounces this year, the World Platinum Investment Council (WPIC) reports. The three-million-ounce demand forecast will be 5% higher than pre-pandemic levels. 

Gasoline three-way catalyst.
Photo by Johnson Matthey
Gasoline three-way catalyst.

Iron-ore stretches gains on global steel demand recovery

By: Reuters     19th April 2021 Iron-ore prices in Asia pushed higher on Monday as strengthening global steel demand buoyed sentiment, and as Chinese steel mills continued to ramp up output despite the government's scrutiny of their compliance with stricter anti-pollution rules. The most-traded September iron ore on China's... 

Gas is the new coal with risk of $100bn in stranded assets

By: Bloomberg     19th April 2021 Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell. Citigroup Inc. and JPMorgan Chase & Co. are among the... 

Fitch Solution foresees a turn for the better in mining spend, output, profit in 2021

By: Marleny Arnoldi     16th April 2021 Research agency Fitch Solutions expects production, capital expenditure (capex) and profitability in the mining industry to improve this year as commodity prices are soaring, while economies are recovering and vaccines are rolled out. The agency forecasts that major mining firms will raise their... 

Tirupati Graphite to raise £10m to fast-track development plan

By: Tasneem Bulbulia     16th April 2021 Specialist graphite producer Tirupati Graphite, with operations in Madagascar and India, has announced a placing with institutional and other investors of 11-million ordinary shares to raise an aggregate gross amount of £10-million. Certain directors of the company are subscribing for shares... 

Glencore makes further emissions, tailings commitments

By: Marleny Arnoldi     15th April 2021 Global diversified miner Glencore’s 2020 Sustainability Report, published on April 14, now incorporates information from both its standalone human rights report and the environmental, social and governance data books published in previous years. The company’s sustainability report includes a... 

Glencore sustainable development head Anna Krutikov
Glencore sustainable development head Anna Krutikov

Profound benefits for metals in store once US infrastructure plan passes

By: Marleny Arnoldi     15th April 2021 When US President Joe Biden announced a $2-trillion bill on March 31, becoming known as his infrastructure plan, it made commodity research company Fastmarkets, for one, excited about the opportunities it may hold for metals. The bill has been dubbed the American Jobs Plan, despite a political... 

US President Joe Biden announced the so-called American Jobs Plan at the end of last month.
US President Joe Biden announced the so-called American Jobs Plan at the end of last month.

Barberton should be focus of new gold thrust – exploration geologist  

By: Martin Creamer     14th April 2021 Barberton should be the prime target to get South African gold mining going again, with geologists having an input at all stages of development and mining cycle. “The main area that I think we should be concentrating on now is on Barberton. I think it has some exceptional geology,” said highly... 

Highly experienced exploration geologist Graham Gavine
Exploration geologist Graham Gavine interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Glencore to benefit from turnaround strategy, commodity upswing – investment banks

By: Donna Slater     14th April 2021 On the back of above-peer earnings growth, sector-leading free cash flow and elevated 2021/22 earnings before interest, taxes, depreciation and amortisation (Ebitda), multinational investment banking firm Goldman Sachs has upgraded diversified miner Glencore’s stocks to "buy", from the previously... 

Glencore to benefit from turnaround strategy, commodity upswing – investment banks

Platinum price to rise as green hydrogen emerges as a new demand segment 

By: Simone Liedtke     14th April 2021 The rarity of platinum, combined with a decline in supply and overwhelming demand, is a formula for a build-up of a “perfect storm”, says independent precious metal consultant Dr David Davis, who says that this will lead to significant upward pressure on the price of platinum, to which investors... 

Dr David Davis
Dr David Davis

Skyrocketing metal prices threaten to hinder EV affordability

By: Bloomberg     14th April 2021 A surge in demand for electric vehicles is sending the price of raw materials soaring, threatening to slow the push toward making cheaper batteries that are key to more widespread adoption. Lithium, the mainstay for rechargeable power packs used in EVs, is roaring back after a three-year slump... 

Skyrocketing metal prices threaten to hinder EV affordability

Billionaire miner sees copper as a national security issue

By: Bloomberg     14th April 2021 Copper is so crucial in electrifying the global economy that finding enough of it has become a national security issue, according to mining magnate Robert Friedland. Mining companies will have to be “real heroes” and governments will have to accept the industry if the world is to successfully... 

Robert Friedland
Robert Friedland

'Deeds, not words': mining firms reshape boardrooms as investors demand sustainability

By: Reuters     13th April 2021 Under fire after a string of high-profile disasters, mining firms are shaking up their boardrooms in response to criticism that they are failing to meet their own environmental, social, and governance standards. Shareholders are demanding change from an industry whose reputation has been... 

'Deeds, not words': mining firms reshape boardrooms as investors demand sustainability

Weekly Coal Index Report

12th April 2021 As Anglo Coal forges ahead with listing Thungela Resources, Exxaro has sold its central block operations (Forzando, Dorstfontein) to Overlooked Coal. However, the mining houses are holding onto their coal export allocation, indicating that coal trading and marketing remains a key advantage for... 

Weekly Coal Index Report

Coal output poised for growth this year after 2% fall in 2020 

By: Marleny Arnoldi     8th April 2021 Research agency GlobalData expects global coal output to have declined by 2% in 2020 owing to Covid-19-related lockdowns and restrictions. Notably, significant reductions have been observed in the US at 23.6%, Indonesia at 13.1%, Russia at 8.1% and Australia at 5.5%.  

Anglo American to demerge South African thermal coal assets 

By: Martin Creamer     8th April 2021 Diversified mining and marketing company Anglo American is to demerge its South Africa thermal coal operations, the company said on Thursday. The demerger is subject to the approval of Anglo’s shareholders on May 5. Anglo American Coal South Africa CEO and World Coal Association chairperson July... 

Anglo thermal coal head July Ndlovu named as CEO of Thungela Resources.
Anglo thermal coal head July Ndlovu named as CEO of Thungela Resources.

Value of iridium in electrolysis could top R90bn mark in years ahead – HySA 

By: Martin Creamer     7th April 2021 The value of iridium for proton exchange membrane (PEM) water electrolysis technology alone could exceed R90-billion in the next ten to 20 years. This is the view of Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of Competence: Hydrogen... 

Value chain as outlined by Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of Competence.
Value chain as outlined by Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of Competence.
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