R/€ = 17.03 Change: 0.03
R/$ = 16.39 Change: -0.10
Au 1799.56 $/oz Change: -15.46
Pt 888.00 $/oz Change: -28.50

Middle East News

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... 

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. 

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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... 

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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... 

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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... 

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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

Kefi advances Ethiopia, Saudi Arabia projects

By: Simone Liedtke     16th November 2021 Copper ores company Kefi Minerals expects to receive project finance confirmation for its Tulu Kapi gold project, in Ethiopia, by the end of January, with the project’s full launch expected between February and May. The country’s Ministry of Mines has also confirmed a licence for the project,... 

Coal CEOs say their fuel is far from being consigned to history

By: Bloomberg     16th November 2021 Coal mining chief executives said the fuel they produce is far from being consigned to history, regardless of stricter global climate action agreed at the COP26 summit last week. Demand remains robust in Asia and has picked up in Europe and North America as well this winter, executives speaking... 

Image of Port Waratah in Australia

Bring on non-binary debates for a redefined, realistic just transition, says WCA 

By: Marleny Arnoldi     16th November 2021 A binary, this-or-that debate on technology for a just energy transition is unhelpful and does not consider the unique circumstances for each country in the pursuit of carbonisation, the World Coal Association (WCA) argues. The association’s stance is that it will respect coal users and non-coal... 

A photo of WCA CEO Michelle Manook
WCA CEO Michelle Manook

Copper rises as investors cheer Xi-Biden talks

By: Reuters     16th November 2021 Copper prices rose on Tuesday as the dollar weakened and risk sentiment improved on positive developments from a meeting between US President Joe Biden and Chinese leader Xi Jinping. Three-month copper on the London Metal Exchange rose 0.4% to $9 711.50 a tonne by 05:14 GMT, while the... 

Expect to be unemployed from age 40, Miller warns graduates entering mining   

By: Martin Creamer     15th November 2021 Because of the collapse of investment in greenfields exploration in South Africa, any mining graduate entering the profession today can expect to be unemployed from the age of 40, said AmaranthCX director and founder Paul Miller on Monday, when he pointed out that South Africa is now at an... 

Provided by Paul Miller
AmaranthCX director Paul Miller interviewed by Mining Weekly's Martin Creamer

Fitch Solutions revises lithium price forecasts upwards

By: Tasneem Bulbulia     15th November 2021 Lithium prices have rallied this year and are now at record high levels amid the sharp acceleration in demand, while global supply struggles to expand, Fitch Solutions Country Risk and Industry Research notes in a report. Fitch Solutions says lithium prices have rallied beyond its expectations. 

WDC sees green shoots of progress in responsible diamond sourcing discussions

By: Marleny Arnoldi     15th November 2021 At the closing session of the 2021 Kimberley Process (KP) Plenary on November 12, World Diamond Council (WDC) president Edward Asscher was encouraged by the KP’s constructive discussions and its welcoming of a Declaration of Supporting Principles for Responsible Diamond Sourcing. Although a... 

Coal stocks lose ground after Glasgow climate deal

By: Reuters     15th November 2021 An international agreement to reduce coal use dragged miners' shares lower on Monday, but tight supply of the commodity provided a floor for a sector that has chalked up huge gains this year. UN climate talks in Glasgow ended on Saturday with a deal targeting fossil fuel use. Wording was... 

An image of a coal carrier

UK's Johnson calls COP26 climate agreement ‘game changing’

By: Bloomberg     15th November 2021 The agreement reached Saturday at global climate talks in Glasgow will be pivotal in the fight to stop global warming, UK Prime Minister Boris Johnson said. The conference hosted by the UK produced a “game-changing agreement that the world needed to see,” Johnson said at a press conference in... 

Image of Boris Johnson
UK Prime Minister Boris Johnson says Glasgow has sounded the death knell for coal power.

Mineral exploration should be incentivised, says IDC’s Thabiso Sekano  

By: Martin Creamer     12th November 2021 Mineral exploration should be incentivised so that South Africa’s great mineral endowment can be optimally leveraged to lower unemployment, improve export revenues, and strengthen this country’s gross domestic product (GDP). That is the view of Industrial Development Corporation (IDC) mining,... 

Creamer Media screenshot of IDC head Thabiso Sekano
IDC Mining Metals Beneficiation Head interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer

Shooting the messenger? Shipping carries the can as investors shun coal

By: Reuters     12th November 2021 Shipping companies that transport the world's coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel. In a sign of investors taking the initiative, six European firms... 

Coal prices to remain volatile heading into 2022

By: Simone Liedtke     12th November 2021 Although coal prices are expected to remain volatile over the remaining quarter of 2021 and into the first quarter of 2022, financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) has revised its 2021 average price forecast... 

Quality ounces hoisting Harmony into new gold stratosphere  

By: Martin Creamer     11th November 2021 Harmony Gold, which was a bottom-feeding gold mining company, has been hoisted into a new stratosphere of value and volume by the quality ounces it has acquired. Johannesburg- and New York-listed company’s operational update for the three months to the end of September 30 highlights just how... 

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Harmony Gold CEO Peter Steenkamp

South Deep is Gold Fields’ star performer 

By: Martin Creamer     11th November 2021 Mechanised underground Gauteng gold mine South Deep has been hailed by a solidly performing Gold Fields as its star in the three months to September 30. Gold Fields CEO Chris Griffith singled out the 75-year-life West Rand gold mine’s 30%-higher quarter-on-quarter performance when he reported... 

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Gold Fields CEO Chris Griffith

ICMM takes leading role in climate change guidance for industry  

By: Marleny Arnoldi     10th November 2021 The drive for clean energy technologies that are required to achieve the climate goals will increase demand for critical minerals, putting the mining and metals industry at the forefront of the energy transition. However, this necessitates that materials be responsibly sourced and produced,... 

Prevention of harm needs to be acknowledged as a top priority by all companies – RMF report

By: Simone Liedtke     10th November 2021 The harmful impacts of mining remain a challenge for society to acknowledge and address, the Responsible Mining Foundation’s (RMF’s) latest sustainability report states, noting that, on the upside, responsible companies are at least creating positive contributions and managing environmental,... 

Mining sector looking toward hydrogen, battery storage to decarbonise 

By: Marleny Arnoldi     10th November 2021 The global energy landscape is changing amid a rush to net-zero emissions by 2050, and renewable energy is going from strength to strength, with these projects having captured nearly 50% of all new generation build capital in 2020. Energy services company Wärtsilä Canada business development... 

A graphic depicting green hydrogen generation

Gold major Newmont spending $500m on renewables, world congress hears 

By: Martin Creamer     10th November 2021 Gold mining major Newmont is spending $500-million on renewable energy projects against the backdrop of climate risk equating to investment risk for all mining industry participants, the Energy and Mines Virtual World Congress heard on Tuesday. Expenditure of the half-a-billion dollars began last... 

Energy and Mines director Adrienne Baker (left) and Newmont executive VP and chief technology officer Dean Gehring (right).
Energy and Mines director Adrienne Baker (left) and Newmont executive VP and chief technology officer Dean Gehring (right).

Copper trader Trafigura sees weak patch ahead

By: Bloomberg     9th November 2021 Trafigura Group, the world’s largest copper trader and one of the most vocal bulls, expects Chinese copper demand to be weaker for the next few months -- potentially providing relief for the market after available exchange stocks fell to the lowest in decades. Trafigura’s chief economist Saad... 

Copper trader Trafigura sees weak patch ahead
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