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Middle East News

Steps being taken to improve manganese export logistics – ARM 

By: Martin Creamer     4th March 2021 Steps involving the use of two ports rather than one, longer trains and increased rail wagon payload are being studied to improve the logistics surrounding the export from South Africa of manganese ore. State-owned rail enterprise Transnet has put on hold the capital expansion plan centred on the... 

Green revolution gets more expensive as copper price surges

By: Bloomberg     4th March 2021 Look just beneath the surface of many of the technologies powering the energy transition and there’s a red metallic glint. Copper is a vital part of green infrastructure from grids to wind turbines, and a recent price surge threatens to make decarbonization more costly. Copper has doubled from... 

Green revolution gets more expensive as copper price surges

Mali, Emirates facilitated Venezuelan gold trade in 2020, opposition says

By: Reuters     4th March 2021 Venezuela sent gold to Mali in 2020 via Russian-owned planes to exchange for euros and US dollars that President Nicolas Maduro's government used to remain afloat despite US sanctions, an opposition representative said on Wednesday. Julio Borges, designated by opposition leader Juan Guaido as his... 

ARM board approves R5.7-billion Merensky project at Two Rivers mine  

By: Martin Creamer     3rd March 2021 The board of diversified mining company African Rainbow Minerals (ARM) has approved the Merensky reef project at the Two Rivers platinum group metals (PGMs) mine, ARM CEO Mike Schmidt said on Wednesday after the company reported record financial results. The ARM-managed Two Rivers is a joint... 

The growth projects of African Rainbow Minerals.
African Rainbow Minerals growth projects report by Mining Weekly’s Martin Creamer: Video: Darlene Creamer.

The major challenge of the mining industry is the imperative of growth – Dr Motsepe  

By: Martin Creamer     3rd March 2021 The major challenge of the mining industry is the imperative of growth, African Rainbow Minerals (ARM) executive chairperson Dr Patrice Motsepe said on Wednesday, when the 25 000-employee ARM reported record financial results. “You’ve got to replace the orebody that you’re mining with an equally... 

African Rainbow Minerals executive chairperson Dr Patrice Motsepe.
African Rainbow Minerals interim results report by Mining Weekly’s Martin Creamer: Video: Darlene Creamer.

Catalytic qualities of platinum driving constant innovation – WPIC

By: Donna Slater     3rd March 2021 Having been discovered two centuries ago, the use of platinum as a catalyst is driving new catalyst applications, reports platinum demand investment stimulator the World Platinum Investment Council (WPIC). In the early decades of the nineteenth century, scientist Sir Humphry Davy stumbled on the... 

African Rainbow Minerals' earnings soar 134%, interim dividend declared

By: Martin Creamer     3rd March 2021 Despite Covid-19-related global economic challenges and uncertainty, African Rainbow Minerals (ARM) on Wednesday reported record headline earnings of R5 039-million for the six months to December 31. This represented a 134% increase compared with the corresponding of 2019 and was underpinned by... 

African Rainbow Minerals executive chairperson Dr Patrice Motsepe
Photo by Creamer Media
African Rainbow Minerals executive chairperson Dr Patrice Motsepe

PGMs project will ensure Marikana’s sustainability for 50 years-plus – Sibanye 

By: Martin Creamer     2nd March 2021 The unrivalled and tier-one K4 platinum group metals (PGMs) project in North West province will ensure sustainability of Marikana for over 50 years, Sibanye-Stillwater CEO Neal Froneman told the BMO conference on Monday. Speaking on a YouTube presentation covered by Mining Weekly, the head of the... 

Sibanye-Stillwater CEO Neal Froneman
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Super-cycling PGMs being shielded from demand-hit repeat of 2000s – Froneman  

By: Martin Creamer     2nd March 2021 Platinum group metals (PGMs) are moving into a super cycle and producers are working with end-users to prevent the metals going through a repeat of the demand-destruction phase that took place in the early 2000s, Sibanye-Stillwater CEO Neal Froneman told the BMO conference on Monday. Speaking on... 

Outlook for platinum group metals positive as they enter super cycle, says Sibanye-Stillwater.
Outlook for platinum group metals positive as they enter super cycle, says Sibanye-Stillwater.

Mining deals to pick up as world reopens, leading adviser says

By: Bloomberg     2nd March 2021 Deals among cashed-up mining companies are poised to pick up once lingering uncertainties from the pandemic dissipate, according to the most-active investment bank in the industry. Miners are flush with cash and ready to expand through acquisitions, with resurgent demand and supply shortfalls... 

Platinum jewellery had a strong fourth quarter, says the PGI

By: Marleny Arnoldi     1st March 2021 In the fourth quarter of last year, platinum outperformed other jewellery categories such as gold and delivered remarkable 14% year-on-year growth in fabrication. The Platinum Guild International (PGI) reports that, although China’s economy ended on a high note in the fourth quarter, retail... 

Platinum jewellery had a strong fourth quarter, says the PGI

Musk says nickel is 'biggest concern' for EV batteries

By: Bloomberg     1st March 2021 Elon Musk has had it with nickel. It’s scarce and expensive, so the chief executive officer of electric-carmaker Tesla tweeted last week that the company’s shifting some cars to a type of battery that uses iron instead. Musk has previously pleaded with miners to produce more nickel. Supplies... 

Elon Musk
Elon Musk

Anglo CEO talks hydrogen, recycling, Scope 3, material solutions provision  

By: Martin Creamer     1st March 2021 The surge of the hydrogen economy, the need to recycle, halving Scope 3 emissions through iron-ore-linked green steelmaking, assisting South Africa to create new industries, and becoming a one-stop material solutions provider, were among the issues discussed by Anglo American CEO Mark Cutifani in... 

Anglo American CEO Mark Cutifani
Anglo American CEO Mark Cutifani interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Fitch raises metals, mining price assumptions in line with returning demand, low inventories 

By: Donna Slater     26th February 2021 Ratings agency Fitch Ratings has revised some of its metals and mining price assumptions in line with that it sees as commodity prices being set to benefit in the short term from returning demand, as well as slow supply response and low inventories. The agency’s revision of all iron-ore price... 

Fitch raises metals, mining price assumptions in line with returning demand, low inventories

Copper’s spike brings back supercycle-era fears of substitution

By: Bloomberg     26th February 2021 In the frenzy of copper’s record run a decade ago, manufacturers making wires and pipes rapidly went in search of cheaper substitutes, in a trend that left a lasting dent in demand. With prices spiking again, the allure of alternatives has never been greater. A rally above $9 000 a metric ton... 

Copper’s spike brings back supercycle-era fears of substitution

Deal for key metal in EV revolution brought bonanza for newcomer

By: Bloomberg     25th February 2021 A transfer of lucrative cobalt and copper assets by the Democratic Republic of Congo’s state mining company enabled a little-known investor to make $40 million within weeks. The transaction and almost immediate resale of control of the assets to Eurasian Resources Group is the latest deal in... 

How high can copper fly? This metals trader expects $12 000

By: Reuters     25th February 2021 Copper could surge above a record to $12 000 a ton in 18 months on new demand from green initiatives, a leading metals trader said, giving one of the most bullish forecasts yet for the metal. The bellwether material has already doubled since a nadir in March to reach a nine-year high, and is... 

Implats pursuing renewables, green hydrogen, exploration, carbon neutrality  

By: Martin Creamer     25th February 2021 Platinum group metals (PGMs) mining and marketing company Implats is pursuing green hydrogen, greenfield exploration and carbon neutrality, the company made clear during question time after presenting a stellar set of high-dividend-yielding interim financial results on Thursday, which cut debt by... 

Impala Platinum's Shaft 16 in Rustenburg
Impala Platinum's Shaft 16 in Rustenburg

Implats' earnings soar 328%, record R7.9bn interim dividend declared

By: Martin Creamer     25th February 2021 Buoyed by the high rand platinum group metals (PGMs) basket price, Impala Platinum Holdings Limited (Implats) has posted a 328% increase in headline earnings and declared a record interim dividend of R7.9-billion on a strong production, safety and sales performance. Implats delivered stellar... 

Nico Muller
Nico Muller

Test mine study under way for Fourth Industrial Revolution try-outs  

By: Martin Creamer     24th February 2021 A feasibility study is under way on a mine selected for the testing of Fourth Industrial Revolution (4IR) technologies ahead of their implementation, Minerals Council South Africa senior executive modernisation and safety Sietse van der Woude said on Wednesday. Van der Woude was answering... 

Clockwise from top left Sietse van der Woude, Ian Mackay, and Bernard Swanepoel.
Joburg Indaba Modernisation in Mining virtual event covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Harmony Gold’s hedging realises R902m net gain in six months  

By: Martin Creamer     23rd February 2021 Gold mining company Harmony Gold realised a net gain of R902-million from its hedging in the six months to December 31, Harmony Gold FD Boipelo Lekubo said on Tuesday. In presenting Harmony’s superb set of dividend-yielding half-year results of profit soaring 336% to R5.8-billion in the six... 

Harmony Gold FD Boipelo Lekubo
Harmony Gold FD Boipelo Lekubo’s financial report covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Nevada and Arizona now the most attractive mining destinations 

By: Mariaan Webb     23rd February 2021 Nevada, in the US, is now the world’s number-one jurisdiction for mining investment, bumping Western Australia from the top of the chart, according to the latest Fraser Institute survey. Arizona, which ranked ninth in 2019, sailed into the second place, while Saskatchewan climbed eight spots... 

Nevada and Arizona now the most attractive mining destinations

Greenfield exploration drilling restarts at Target North gold prospect  

By: Martin Creamer     23rd February 2021 Greenfield exploration drilling has restarted at the Target North prospect in the Free State, which Covid-19 temporarily halted, Harmony Gold CEO Peter Steenkamp told Mining Weekly on Tuesday. Speaking during a Zoom interview after presenting an outstanding set of dividend-yielding  financial... 

Harmony Gold CEO Peter Steenkamp
Harmony gold CEO Peter Steenkamp interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Supercharged commodity boom: Definitely. Supercycle? Not exactly

By: Bloomberg     23rd February 2021 A surge in commodity prices has Wall Street banks gearing up for the arrival of a new supercycle, but underlying dynamics suggest it isn’t going to be a repeat of the epic China-led boom at the start of this century. Copper heading for new all-time highs, surging agricultural markets and oil... 

Supercharged commodity boom: Definitely. Supercycle? Not exactly

Harmony starts on first 10 MW of own solar, keen to pursue next 20 MW 

By: Martin Creamer     23rd February 2021 Gold mining company Harmony Gold, which is in the process of introducing 30 MW of own-generation solar power into its electricity mix, has begun the phasing in of the first 10 MW of renewable energy generation. “Generating our own power from solar power is the way to go,” Harmony Gold CEO Peter... 

Harmony Gold mineworkers underground at Masimong gold mine.
Harmony Gold mineworkers underground at Masimong gold mine.

Harmony Gold’s profit soars 336% to R5.8bn, dividend declared

By: Martin Creamer     23rd February 2021 The net profit of gold-mining company Harmony Gold soared by 336% to R5.6-billion in the six months to the end of December. The Johannesburg- and New York-listed company, headed by CEO Peter Steenkamp, has added quality ounces to its portfolio, which has been derisked. 

Peter Steenkamp
Photo by Creamer Media
Peter Steenkamp

Green hydrogen to be produced from solar power at platinum mine  

By: Martin Creamer     22nd February 2021 Although platinum group metals (PGMs) mining and marketing company Anglo American Platinum will be starting with a 75 MW solar photovoltaic powered plant at its Mogalakwena mine, planned is an eventual 320 MW of solar power generation, the excess from which will be used to produce green hydrogen.... 

Anglo American Platinum CEO Natascha Viljoen
Anglo American Platinum CEO Natascha Viljoen interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Global decarbonisation rapidly upping demand for Anglo Platinum products 

By: Martin Creamer     22nd February 2021 Platinum group metals mining and marketing company Anglo American Platinum said on Monday that it was poised to deliver next phase of value for its stakeholders as decarbonisation efforts increase the long-term demand for its metals. “We are grounded in our purpose to re-imagine mining to improve... 

Anglo American Platinum's Mogalakwena platinum mine in Limpopo.
Anglo American Platinum's Mogalakwena platinum mine in Limpopo.

Copper surges above $9 000 as major deficit drives record rally

By: Bloomberg     22nd February 2021 Copper rallied above $9 000 a ton for the first time in more than nine years on bets that increased demand driven by the recovery from the pandemic will spur a historic deficit, putting the economic bellwether on course for a record run of monthly gains. Prices climbed more than 3% on Monday and... 

Copper surges above $9 000 as major deficit drives record rally

Gold goes from commodity leader to laggard in shocking reversal

By: Bloomberg     19th February 2021 Gold held near the lowest level in more than two months as an uptick in the dollar and further signs of economic recovery pummeled demand for the haven asset. Bullion capped a five-day skid on Wednesday, the longest run of losses since March, as data showed US retail sales surged in January by... 

Gold goes from commodity leader to laggard in shocking reversal

These metals are soaring on a green frenzy and global recovery

By: Bloomberg     19th February 2021 Industrial metal prices are powering to the highest in years on bets an economic recovery from the pandemic and worldwide push for cleaner, greener energy will unleash vast amounts of pent-up demand. From base-metal bellwethers to essential inputs for batteries and home electronics, post-crisis... 

These metals are soaring on a green frenzy and global recovery

Having gold in your portfolio is a very solid insurance right now – Bristow 

By: Martin Creamer     18th February 2021 Having gold in your portfolio is a very solid insurance right now, as it always has been during global crises. That is the view of Barrick Gold president and CE Dr Mark Bristow, whose company on Thursday reported 91% higher fourth-quarter operating cash flow to $5.4-billion and annual free cash... 

Barrick Gold president and CE Dr Mark Bristow
Barrick Gold president and CE Dr Mark Bristow

Sibanye assessing on-site green hydrogen generation to power fuel cell mobility  

By: Martin Creamer     18th February 2021 Platinum group metals (PGM) producer Sibanye-Stillwater is assessing the generation of green hydrogen on its mine sites to power PGM-catalysed hydrogen fuel cell mobility, it said on Thursday, when the Johannesburg- and New York-listed company foresaw good exposure for itself to the hydrogen... 

Sibanye-Stillwater CEO Neal Froneman.
Sibanye-Stillwater results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Sibanye-Stillwater profit soars, free cash rockets, R9.4bn dividend 

By: Martin Creamer     18th February 2021 The free cash flow of precious metals company Sibanye-Stillwater rocketed 63-fold to within a hair’s breadth of R20-billion in the six months to the end of December. The Johannesburg- and New York-listed company, headed by CEO Neal Froneman, reported a sky-high profit rise to R29.3-billion for... 

Sibanye-Stillwater CEO Neal Froneman.
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman.

Governments from Mongolia to Mali seek to reopen mining deals

By: Reuters     18th February 2021 Some resource-rich developing countries are seeking to rewrite mining contracts and accelerate dividend payouts, which can take years to materialize under deals that experts said are tilted in companies' favor. Any move to renegotiate agreements will trigger pushback by miners wary of threats to... 

TPI warns that most large firms have not gone clean enough to meet Paris agreement

By: Marleny Arnoldi     17th February 2021 The Transition Pathway Initiative (TPI) has warned that 86%, or 95 out of 111, of global publicly listed firms surveyed in heavy industries have failed to prepare for the “transition decade”. Research done by the initiative points to an $856-billion climate risk, which is the combined market cap... 

Glencore ferrochrome business evaluating clean energy projects 

By: Martin Creamer     17th February 2021 The ferrochrome business of diversified mining and marketing company Glencore, which uses a substantial amount of electricity, is evaluating various clean energy projects, Glencore ferroalloys head Japie Fullard said during this week’s Glencore a media conference. The media conference followed... 

Glencore Alloys CEO Japie Fullard
Glencore Alloys CEO Japie Fullard

Coal to China set to continue while Asian giant not buying from Australia – Glencore 

By: Martin Creamer     17th February 2021 The export of South African coal to China is poised to continue while China decides not to buy Australian coal, Glencore CEO Ivan Glasenberg said during this week’s Glencore media conference. “China still imports round about 185-million tons to 190-million tons of seaborne coal. They like to... 

Glencore heading for a future without any coal production.
Photo by Bloomberg
Glencore heading for a future without any coal production.
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