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Asia News

China's iron-ore supply to rise by up to 10Mt in 2024, steel association says

By: Reuters     20th May 2024 China's domestic iron-ore concentrate output in 2024 will rise between 5-million and 10-million metric tons from the year before, its State-backed steel association said on Friday. "The key domestic iron-ore projects have made noticeable progress thanks to efforts from various parties," the... 

Copper hits record above $11 000 on bets that shortage looms

By: Bloomberg     20th May 2024 Copper surged to its highest-ever level, extending a powerful, months-long rally driven by financial investors who’ve piled into the market in anticipation of deepening supply shortages. Futures on the London Metal Exchange jumped more than 4% in early Monday trading, taking copper past $11 000... 

Copper hits record above $11 000 on bets that shortage looms

Lithium miners shake up trading to tackle wild price swings

By: Bloomberg     20th May 2024 The world’s lithium miners — facing an unprecedented demand surge and wild price swings — are shaking up the way the commodity is bought and sold. As lithium emerges as a linchpin of the global energy transition, the industry is in the grip of a slow-motion revolution that earlier upended... 

Lithium miners shake up trading to tackle wild price swings

Gold hits fresh record as Fed rate-cut optimism fuels demand

By: Bloomberg     20th May 2024 Gold notched a fresh all-time high, as investor demand soared across the broader metals complex amid increasing optimism the US will cut rates this year. Bullion jumped as much as 1.1% to hit $2 440.59 an ounce in early Asian hours, surpassing a previous intraday record reached in April. Traders... 

Gold hits fresh record as Fed rate-cut optimism fuels demand

Platinum-enabled green molecules offering inviting green electron value-add – Nedbank  

By: Martin Creamer     20th May 2024 It’s no longer good enough to just produce electric vehicles (EVs). You have to produce green EVs, and to do that, you need green steel. To get the green steel, you need the green molecules that green hydrogen provides. 

The cathode side of proton exchange membrane (PEM) fuel cells that convert hydrogen to electricity require platinum.
Nedbank CIB's Mike Peo interviewed by Mining Weekly's Martin Creamer. Video: Shadwyn Dickinson.

BHP debates improved bid as time runs out in Anglo takeover saga

By: Bloomberg     19th May 2024 With time running out on its $43-billion pursuit of Anglo American, BHP Group faces a critical question: what would it take to draw the smaller company to the negotiating table within the next few days? BHP’s plan to partially break up and then acquire Anglo has transfixed the mining industry by... 

BHP CEO Mike Henry
Photo by Bloomberg
BHP CEO Mike Henry

Minerals Council, Geoscience, IDC going all out to boost South African exploration  

By: Martin Creamer     17th May 2024 A collective effort was apparent on Friday when Minerals Council South Africa, the Council for Geoscience and the Industrial Development Corporation (IDC) spoke on the same platform to promote a return to growth in the shrinking South African mining industry. Minerals Council South Africa CEO... 

Minerals Council South Africa CEO Mzila Mthenjane
South African public-private sector exploration webinar covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Glencore expands adherence to standards, reporting frameworks to ensure sustainability

By: Marleny Arnoldi     17th May 2024 Global diversified miner Glencore’s emissions and energy use increased in 2023, but the group continues to make strides in managing its operations sustainably and according to ever-evolving standards. Glencore’s total energy use last year was 202 PJ, compared with 194 PJ in 2022. Renewable... 

Glencore's head office
Photo by Bloomberg
Glencore's head office

China's April coal output falls to lowest level since Oct 2022

By: Reuters     17th May 2024 China's coal production in April fell to its lowest level since October 2022, statistics bureau data and Reuters records showed on Friday, as continuing mine safety inspections curbed output. Output was 371.67-million metric tons last month, down 2.9% from a year earlier, according to the... 

China’s top copper miner to ramp up output as supply risks mount

By: Bloomberg     17th May 2024 China’s leading copper miner raised its output guidance at a time when prices have been rallying toward a record on expected deficits. Zijin Mining Group aims to boost mined copper production to 1.22-million tons in 2025, up 4% from a previous target, according to a filing to the Shanghai Stock... 

China’s top copper miner to ramp up output as supply risks mount

Trafigura says aluminium rally is ‘over done’ as supply returns

By: Bloomberg     17th May 2024 Aluminum prices should decline by at least 6% over the next six months as supply returns to the market and high interest rates continue to crimp manufacturing demand, according to an analyst from Trafigura Group, one of the biggest traders of the metal. “We’re looking at a very grim demand... 

Trafigura says aluminium rally is ‘over done’ as supply returns

Today’s well-supplied market for critical minerals ‘may not be a good guide for future’ 

By: Terence Creamer     17th May 2024 A new International Energy Agency (IEA) report describes the sharp decline in critical mineral prices over the past year as a double-edged sword, cautioning that, while it has been a boon for clean energy deployment and affordability, it is a bane for critical mineral investment and... 

Investment in certain minerals, notably copper and lithium, is falling short of what was required for transition to net-zero energy system
Investment in certain minerals, notably copper and lithium, is falling short of what was required for transition to net-zero energy system

PGM-boosted green hydrogen backed by resolute South African govt's commitment  

By: Martin Creamer     16th May 2024 The production of green hydrogen, which is most effectively generated when catalysed by platinum group metals (PGMs), has profound economic and social implications, including job creation, skills development, and the fostering of new industries along a multifaceted mining, manufacturing and... 

Higher Education & Training DDG Zukile Mvalo
Higher Education & Training DDG Zukile Mvalo’s green hydrogen presentation covered by Mining Weekly’s Martin Creamer. Video: Creamer Media’s Shadwyn Dickinson. Video Editing: Nicholas Boyd.

Anglo unveils hiring freeze, document shows, after rejecting $43bn takeover bid

By: Reuters     16th May 2024 Anglo American has suspended hiring globally, it said on Thursday, as it gets plans under way to simplify itself and build value – and avert a $43-billion takeover bid by Australia's BHP. Anglo laid out plans on Tuesday to refocus its company on energy transition metal copper while spinning out... 

The recruitment of new non site-based permanent employees and contractors has been stopped.
The recruitment of new non site-based permanent employees and contractors has been stopped.

State mining training authority backing green hydrogen skills centre creation   

By: Martin Creamer     15th May 2024 “We’re very excited to announce that we’ll be establishing the first centre of specialisation of green hydrogen skills,” South Africa’s Chemical Industries Education and Training Authority (CHIETA) CEO, Yershen Pillay, made public this week. CHIETA is working on this with South Africa’s mining... 

CHIETA CEO Yershen Pillay
Nedbank CIB Green Hydrogen Roundtable covered by Mining Weekly's Martin Creamer. Video: Creamer Media's Shadwyn Dickinson. Video Editing: Creamer Media's Nicholas Boyd

BHP shareholders see room for one more sweetened Anglo bid

By: Bloomberg     15th May 2024 Shareholders in BHP Group and takeover target Anglo American expect the world’s largest miner to come back with a third and improved proposal before a regulatory deadline next week, even after the smaller company laid out a bold restructuring plan of its own on Tuesday. Anglo has twice rejected... 

A BHP office building

US blames China’s CMOC for predatory tactics behind cobalt glut

By: Bloomberg     15th May 2024 China’s CMOC Group is being accused by a top US official of using “predatory” tactics to depress prices of a key battery metal by flooding the market with cobalt from Democratic Republic of Congo mines. “What we’re seeing now, I feel, is a variation of predatory pricing,” Jose Fernandez, Under... 

Cobalt on a conveyor belt

US tariffs on minerals leave out markets that China dominates

By: Bloomberg     15th May 2024 President Joe Biden just unveiled sweeping tariffs on a range of Chinese imports, including more than two dozen industrial raw materials. But the administration is being careful to avoid the critical minerals where Beijing’s grip on global supply is greatest. The commodities that made the duties... 

US President Joe Biden
US President Joe Biden

Anglo-BHP battle is between two CEOs fighting over same vision

By: Bloomberg     15th May 2024 As Anglo American sets out a survival plan that echoes the vision of its suitor BHP Group, the rival mining bosses are now locked in a battle to convince shareholders they are the man for the job. Anglo CEO Duncan Wanblad and his BHP counterpart Mike Henry took center stage on Tuesday, as the... 

Anglo CEO Duncan Wanblad and his BHP counterpart Mike Henry took centre stage on Tuesday at a mining conference in Miami.
Anglo CEO Duncan Wanblad and his BHP counterpart Mike Henry took centre stage on Tuesday at a mining conference in Miami.

All-round value unlock targeted in proposed demerging of Anglo Platinum and De Beers 

By: Martin Creamer     14th May 2024 Diversified mining major Anglo American is targeting value elevation in its planned demerging of South Africa-based Anglo American Platinum (Amplats) and the envisaged divestment or demerger of Southern Africa-dominant De Beers. In rejecting BHP’s second takeover offer, Anglo intends reshaping... 

Anglo American CE Duncan Wanblad
Anglo American CE Duncan Wanblad

Korea Zinc sees US opportunities as it targets big copper growth

By: Bloomberg     14th May 2024 The world’s largest zinc smelter is planning to significantly expand its copper output, taking advantage of growth opportunities in the US as it seeks to become a leading player in the global transition to renewable energy. Korea Zinc, which also processes nickel, is looking to increase its... 

Tin prices may see further support from supply risks, rate cuts, analysts say

By: Reuters     14th May 2024 Tin prices, which have rallied in recent months to near two-year highs, could be bolstered further by supply disruptions, ongoing geopolitical conflicts, fund inflows in the event of interest rate cuts and stabilising demand, analysts say. Benchmark three-month tin on the London Metal Exchange... 

Copper climbs to highest in two years as bulls see deficit

By: Bloomberg     14th May 2024 Copper touched its highest level since 2022 after a powerful rally fueled by forecasts of a growing global supply deficit. The commodity’s gain since the start of January is approaching 20% with prices defying typical indicators of soft demand, especially in China. That’s partly because... 

Copper climbs to highest in two years as bulls see deficit

DRC allows Zijin mine to resume operations, mines ministry letter says

By: Reuters     14th May 2024 Democratic Republic of Congo's government has lifted a suspension order on a Congolese copper and cobalt operation majority-owned by China's Zijin Mining Group, according to a letter seen by Reuters on Monday. Congo's mines ministry last month halted the activities of the COMMUS project, in which... 

Green energy presenting South Africa with massive reindustrialisation chance – Nedbank  

By: Martin Creamer     13th May 2024 Green electrons and green molecules are presenting South Africa with a massive opportunity to reindustrialise, Nedbank CIB head of infrastructure, energy and telecommunications Mike Peo told the Green Hydrogen Roundtable on Monday. “We have an opportunity for South Africa to completely... 

From left, CHIETA CEO Yersen Pillay, Higher Education and Training Department DDG Zukile Mvalo, and Nedbank CIB Head of Infrastructure, Energy and Telecommunications Mike Peo.
Green Hydrogen Roundtable covered by Mining Weekly's Martin Creamer. Video: Creamer Media's Shadwyn Dickinson.

Anglo rejects BHP's revised £34bn proposal

By: Mariaan Webb     13th May 2024 Diversified major Anglo American has rejected a revised proposal put forward by BHP, which valued the UK-headquartered miner at about £34-billion. The structure of the revised proposal, unveiled on Monday, remained unchanged from the previously rejected proposal of last month. It comprises an... 

BHP CEO Mike Henry says the group is disappointed that its second proposal has been rejected.
BHP CEO Mike Henry says the group is disappointed that its second proposal has been rejected.

China takes advantage of cheap gas and coal to rebuild stocks

By: Bloomberg     13th May 2024 China is taking advantage of lower international prices for coal and natural gas to replenish stockpiles of power fuels ahead of another long, hot summer. Gas imports through the end of April jumped 21% from the previous year, while coal purchases climbed 13%. The increase in coal in particular... 

China takes advantage of cheap gas and coal to rebuild stocks

Platinum demand outlook pretty robust, World Platinum Investment Council highlights  

By: Martin Creamer     13th May 2024 The outlook for platinum is one that's pretty robust, the World Platinum Investment Council (WPIC) has highlighted in its latest Platinum Quarterly, which shows the projection of the metal's demand as being very encouraging amid a near-record-low supply prediction. Automotive demand is at a... 

World Platinum Director of Research Edward Sterck
World Platinum Director of Research Edward Sterck interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

OceanaGold Philippines' shares decline in early trades on market debut

By: Reuters     13th May 2024 Gold miner OceanaGold Philippines' shares fell as much as 6% below their initial public offering (IPO) price in the first 15 minutes of trading on their market debut on Monday. The shares opened at 13.34 pesos ($0.2314) a touch above their IPO price of 13.33 pesos, but subsequently lost ground. 

OceanaGold Philippines' shares decline in early trades on market debut

St Barbara’s decade-long vision for Simberi

By: Mariaan Webb     10th May 2024 Australian gold miner St Barbara has crafted a roadmap for the advancement of the Simberi mine, in Papua New Guinea, outlining production scenarios aimed at elevating output to about 230 000 oz/y through to 2034. The concept study scrutinised six different cases, comprising two flowsheet options... 

St Barbara’s decade-long vision for Simberi

Fantastic advance by Proudly South African manganese battery metal first-mover  

By: Martin Creamer     10th May 2024 Proudly South African Manganese Metal Co (MMC) of Mbombela, Mpumalanga, is making a fantastic first-mover advance to enter the manganese battery metal market, which is progressing super-fast. To be established is a faster stream to market, which is not only ahead of the global game, but also... 

Manganese Metal Co chairperson Bernard Swanepoel
Manganese Metal Company interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Copper above $10 000 as supply worries counter faltering demand

By: Bloomberg     10th May 2024 Copper climbed above $10 000 a ton as predictions for tighter global supplies and rising consumption in electric vehicles and power grids countered signs of demand destruction in top user China. Prices of copper have risen 17% this year on fears of shortages, with aging mines forecast to... 

Hydrogen’s ‘irreplaceable’ role highlighted by platinum-linked venture capital provider  

By: Martin Creamer     9th May 2024 The role of hydrogen in the decarbonisation of the hardest-to-abate sectors of the global economy continues to be highlighted as “irreplaceable” by AP Ventures, the independent venture capital fund focused on investing in early-stage companies that use or enable the use of platinum group metals... 

AP Ventures Co-Founding Partner Kevin Eggers
AP Ventures Co-Founding Partner Kevin Eggers interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

India considers incentives for lithium processing, sources say

By: Reuters     9th May 2024 India is considering offering incentives to encourage private companies to set up lithium processing facilities, as New Delhi tries to develop its nascent lithium mining and boost supplies of the EV battery metal, three government sources said. It would offer incentives to companies to set up... 

China April coal imports rise on lower domestic output, summer restocks

By: Reuters     9th May 2024 China's coal imports rose in April, customs data showed on Thursday, fuelled by lower domestic production and greater buying by power generators to swell stockpiles ahead of the peak summer demand season. Shipments of coal into the world's largest consumer of the fuel were 45.25-million metric... 

China's 2024 iron-ore imports seen similar to last year's - Vale

By: Reuters     9th May 2024 Imports of iron-ore by China, the world's biggest buyer, in 2024 are expected to be around 1.17-billion to 1.18-billion metric tons, similar to last year's 1.18-billion tons, a senior official of miner Vale said on Wednesday. "In the near term, we are still seeing strong resilience in the... 

China's 2024 iron-ore imports seen similar to last year's - Vale

South Deep wind power decision drawing closer, Q2 update likely on backfill problem  

By: Martin Creamer     8th May 2024 Mining company Gold Fields expects to be in a position to decide on the establishment of a wind power project at the South Deep gold mine, west of Johannesburg, in the third quarter of this year. The project is currently undergoing scoping and feasibility and one of the key pieces of work has... 

Gold Fields CEO Mike Fraser
Gold Fields presentation covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Indonesia says nickel reserves enough for expansion, despite moratorium call

By: Reuters     8th May 2024 Indonesia's nickel reserves are sufficient for expanded processing operations, an investment ministry official said on Wednesday, amid calls from a miners' group to curb construction of new smelters to ease a global glut. Indonesia banned exports of nickel ore in 2020 to encourage domestic... 

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