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Au 2433.52 $/oz Change: 19.27
Pt 1053.76 $/oz Change: -40.74
 

Asia News

IEA to launch security programme for minerals critical to energy sector

By: Reuters     14th February 2024 The International Energy Agency (IEA) is launching a programme to secure the supply of minerals critical to energy security, as demand rises fast while manufacturing remains in the hands of a few key producers, its executive director said on Tuesday. Fatih Birol said the production of electric... 

Power aggregators seen as key accelerators of South African mining’s energy transition  

By: Martin Creamer     13th February 2024 Many energy projects selling to one buyer, who in turn sells to many mines – this procurement model is seen as a key financial tool to accelerate the energy transition of South Africa’s mining industry. “We think the aggregator model can really accelerate the requirements of the mines to get... 

Nedbank CIB) Energy Finance Co-Head Amith Singh.
Nedbank CIB Energy Finance Co-Head Amith Singh interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

South Africa looks to Japanese collaboration on green hydrogen development 

By: Darren Parker     13th February 2024 The Japan External Trade Organisation (Jetro) this week hosted key South African private and public sector delegates and a high-profile Japanese business delegation at a green hydrogen seminar, in Johannesburg, on February 12. This follows the signing of a memorandum of cooperation (MoC) between... 

H2 gas sign
We speak to Jetro Johannesburg executive director Matoba Shintaro about the Japanese/South African collaboration on green hydrogen

Hydrogen demand powers record sales for Thyssenkrupp Nucera

By: Reuters     13th February 2024 Thyssenkrupp Nucera on Tuesday posted record quarterly sales, citing rising demand for its electrolyser technology as the hydrogen firm remained upbeat about the sector's prospects despite regulatory uncertainty. First-quarter revenue for the three months to December 31 rose by more than a third... 

ThyssenKrupp Nucera CEO Werner Ponikwar
ThyssenKrupp Nucera CEO Werner Ponikwar

2024 defining year for world’s first woman-owned phosphate mine, looking at IPO   

By: Martin Creamer     12th February 2024 Adelaide Ruiters has been slogging away for ten years to get the world’s first woman-owned phosphate mine up and running. Now, 2024 looks like the year she'll likely do it. Ribbon-cutting for Adelaide Ruiters Mining and Exploration (ARME) is now expected around June, July ­– and being considered,... 

ARME founder and CEO Adelaide Ruiters.
AMRE CEO Adelaide Ruiters interviewed by Mining Weekly’s Martin Creamer. Video: Shadwyn Dickinson. Video Editing: Nicholas Boyd.

Glencore to close, sell unprofitable New Caledonia nickel mines

By: Mariaan Webb     12th February 2024 The Koniambo Nickel SAS (KNS), a joint venture (JV) between Société Minière du Sud Pacifique SA and Glencore in New Caledonia, will transition into care and maintenance, it was announced on Monday. Glencore, which acquired the operation as part of its 2013 Xstrata transaction, said that high... 

Glencore to close, sell unprofitable New Caledonia nickel mines

Rio Tinto wrangles investors over water contamination claims

By: Bloomberg     12th February 2024 Global mining giant Rio Tinto, which sparked outrage after destroying an ancient Indigenous site in Australia in 2020, faces new pressure from socially conscious investors and lenders, this time on water practices at two of its mines. A group representing UK pension funds, Local Authority... 

Rio Tinto wrangles investors over water contamination claims

Permanent aerial mesh support, exoskeletons under scrutiny to make mining safer 

By: Martin Creamer     9th February 2024 Minerals Council South Africa is looking at the possibility of promoting permanent aerial mesh support throughout the mining industry as part of its fall-of-ground action plan. The Minerals Council has a robust fall-of-ground action plan that targets several dimensions of the biggest contributor... 

Minerals Council CEO Mzila Mthenjane flanked by Japie Fullard (left) and Dushendra Naidoo (right).
Minerals Council CEO Mzila Mthenjane flanked by Japie Fullard (left) and Dushendra Naidoo (right).

Billionaire Adani secures ore for $1.2bn copper smelter

By: Bloomberg     9th February 2024 Indian billionaire Gautam Adani’s conglomerate has signed contracts to buy 1.6-million tons a year of copper concentrate for the world’s largest single-location smelter for the industrial metal. The first 500 000 t of capacity at the $1.2-billion facility in Mundra in the western state of... 

Gold mining industry striving to build on sustainability strides  

By: Tasneem Bulbulia     8th February 2024 Striving for sustainability in every facet of the gold mining industry’s value chain is imperative and while considerable progress has been made in several areas, including responsible practices and reporting, as well as decarbonisation, there is still work to be done in other areas, such as... 

An image of World Gold Council climate change lead and market relations director John Mulligan
World Gold Council climate change lead and market relations director John Mulligan

Anglo’s fourth-quarter production in line with expectations despite rail constraints

By: Tasneem Bulbulia     8th February 2024 Diversified miner Anglo American’s production for the fourth quarter ended December 31, 2023, was in line with expectations and in line with production in the third quarter, despite the deliberate slowdown at its South African iron-ore operations to help draw down stock levels in response to poor... 

An image of Anglo American CE Duncan Wanblad
Duncan Wanblad

China is oversupplied with commodities as deflation persists

By: Bloomberg     8th February 2024 China’s commodities markets are heading into the Lunar New Year break on a glum note, with deflation embedded on both the consumer and producer sides of the economy. Weak aggregate demand is the central issue for policymakers, but last year’s binge on imports has left a lot of commodities... 

Global Reporting Initiative formally launches new biodiversity, mining standards

By: Rebecca Campbell     8th February 2024 More than 50% of global gross domestic product was moderately or highly dependent on biodiversity, Global Reporting Initiative (GRI) vice chairperson Bola Adeeko highlighted in Cape Town on Thursday. Adeeko, who was also the special projects director for Flour Mills of Nigeria, was speaking at... 

Vedanta weighs sale of minority stake in Zambian copper assets

By: Reuters     8th February 2024 Vedanta Base Metals CEO Chris Griffith said on Wednesday the company is talking to a range of financing partners to raise money for a restart of its Konkola Copper Mines unit in Zambia, including the sale of a minority stake in KCM. Vedanta VDAN.NS will remain the majority shareholder in the unit... 

Vedanta Base Metals CEO Chris Griffith
Vedanta Base Metals CEO Chris Griffith

China's CMOC eyes further growth in Congo and beyond after taking cobalt crown

By: Reuters     8th February 2024 Chinese mining firm CMOC Group could buy more assets in copper and cobalt-rich Democratic Republic of Congo, and sees further potential for growth in South America and Indonesia, an executive told Reuters on Wednesday. "If there are opportunities, if there are assets that meet our criteria, of... 

De Beers warns diamond recovery will be slow after terrible year

By: Bloomberg     8th February 2024 De Beers expects any recovery in the beleaguered diamond market to be slow and gradual as the industry continues to suffer from weak economic growth in key markets such as China and the US. The sector almost came to a complete standstill in the second half of last year as De Beers and Alrosa... 

De Beers CEO Al Cook
De Beers CEO Al Cook

ICMM announces initiative to simplify responsible mining standards

By: Shannon de Ryhove     7th February 2024 In a significant move towards accountability and transparency in the global mining industry, the International Council on Mining and Metals (ICMM) has unveiled plans to consolidate responsible mining standards into a single, globally recognised framework. This initiative, developed in... 

ICMM President Rohitesh Dhawan in conversation with Natural Resource Governance Institute Africa director Nafi Chinery at Investing in African Mining Indaba.
ICMM President Rohitesh Dhawan in conversation with Natural Resource Governance Institute Africa director Nafi Chinery at Investing in African Mining Indaba.

Tim Schlick to succeed Huw Daniel as PGI CEO

By: Sabrina Jardim     7th February 2024 Platinum marketing organisation Platinum Guild International’s (PGI’s) long-time CEO Huw Daniel will retire at the end of March, after 21 years with the organisation. Having started his tenure in 2003 as president of PGI USA, Daniel was appointed CEO in 2015. 

An image depicting Platinum Guild International’s long-time CEO Huw Daniel
Platinum Guild International’s long-time CEO Huw Daniel

Crucial to combine agricultural development with mining, Indaba hears 

By: Martin Creamer     7th February 2024 Africa is going to have a huge amount to do to help solve the world’s climate change problems, Toronto-listed Ivanhoe Mines executive chairperson Robert Friedland emphasised in his far-reaching thirtieth address to the thirtieth Investing in African Mining Indaba in Cape Town. In those 30... 

Ivanhoe Mines executive chairperson Robert Friedland.
Photo by Creamer Media
Ivanhoe Mines executive chairperson Robert Friedland.

Threat of climate change has transformed the image of mining

By: Rebecca Campbell     7th February 2024 The need to reduce global carbon emissions, to counter climate change, has transformed the public image of the mining industry, because of the urgent need to ramp-up the production of clean energy metals. So highlighted International Council on Mining and Metals (ICMM) CEO Rohitesh Dhawan,... 

ICMM CEO Rohitesh Dhawan
ICMM CEO Rohitesh Dhawan

Transformed AECI to go big globally

By: Rebecca Campbell     7th February 2024 JSE-listed South African multinational AECI aims to be the global number three company in its core market segment of mining explosives and mining chemicals, by 2030. Of the company’s business, 80% is already outside South Africa and 30% is outside Africa, CEO Holger Riemensperger emphasises to... 

AECI CEO Holger Riemensperger
AECI CEO Holger Riemensperger

Bolivia to ink $350m deal in Chinese financing for first zinc refinery

By: Reuters     7th February 2024 Bolivia's government will sign a deal with China on Tuesday for $350-million in financing to build the South American country's first zinc refining plant, Bolivia's Mining Ministry said. The 20-year loan from China's export-import bank will have an interest rate of 2%, the Ministry said.... 

Mining companies embrace COP28 commitments, charting sustainable path for mining industry

By: Shannon de Ryhove     7th February 2024 In the wake of COP28, the United Nations Climate Change Conference that took place at the end of 2023, the global mining industry is witnessing a transformative shift towards sustainability. The pivotal commitment to triple renewable energy production by 2030 has set the stage for a new era in... 

Mining companies embrace COP28 commitments, charting sustainable path for mining industry

Angola’s diamond sparkle brightened by new De Beers deal 

By: Martin Creamer     6th February 2024 Diamond mining and marketing company De Beers is to collaborate with Angola on opportunities to increase diamond production, support alluvial mining sector and enhance social development for the benefit of Angola’s citizens. De Beers on Tuesday signed a memorandum of understanding (MOU) with... 

De Beers CEO Al Cook with Endiama CEO Ganga Junior at Investing in African Mining Indaba.
De Beers CEO Al Cook with Endiama CEO Ganga Junior at Investing in African Mining Indaba.

TLT-Turbo appoints new CEO

By: Darren Parker     6th February 2024 Mining, tunnel and industrial fan manufacturer and mechanical vapour recompression (MVR) technology company TLT-Turbo has appointed Gerd Jegodzinski as its new CEO, effective January 4, succeeding former CEO Matthias Adamy. TLT-Turbo provides customised ventilation solutions in underground mines... 

New TLT-Turbo CEO Gerd Jegodzinski
New TLT-Turbo CEO Gerd Jegodzinski

Noise-induced hearing loss now highest priority mining health condition, Indaba hears 

By: Martin Creamer     6th February 2024 Noise-induced hearing loss has displaced tuberculosis (TB) and silicosis as the top priority health threat in the South African mining industry. “I’m emphasising noise-induced hearing loss because the other diseases have gone down markedly whereas noise-induced hearing loss has not gone down as... 

From left Minerals Council South Africa’s Sietse van der Woude, Dr Thuthula Balfour, Japie Fullard, Mzila Mthenjane and Dushendra Naidoo.
From left Minerals Council South Africa’s Sietse van der Woude, Dr Thuthula Balfour, Japie Fullard, Mzila Mthenjane and Dushendra Naidoo.

South Africa’s mining industry now 39% black-owned, Mining Indaba hears 

By: Martin Creamer     5th February 2024 In 2004, the year South Africa’s far-reaching Mining Charter was first introduced, black ownership in South Africa’s globally recognised mining industry stood at a negligible 2%. This has now leapt nearly 20 times higher to approximately 39%, South Africa President Cyril Ramaphosa highlighted in... 

President Cyril Ramaphosa at the Mining Indaba.
President Cyril Ramaphosa at the Mining Indaba.

India sees annual coal output up 10.9% in 2024/25

By: Reuters     5th February 2024 India expects domestic coal output to increase by 10.9% to 1.13-billion metric tons in the fiscal year ending March 2025, a senior government official said, driven mainly by higher production from mines owned by private companies. State-run Coal India is expected to boost production to... 

Indonesia's January tin exports slump 99% on delayed work approvals

By: Reuters     5th February 2024 Indonesia exported 0.4 metric tons of refined tin in January, down 99% from the same month last year, Trade Ministry data showed on Monday, as miners faced delays in work plan approvals. On a monthly basis, exports also dropped from nearly 6 000 tons in December. 

OceanaGold files for Philippines unit’s IPO

By: Mariaan Webb     5th February 2024 OceanaGold Philippines (OGPI), a subsidiary of Vancouver-based OceanaGold, has filed a preliminary prospectus with the Philippine Securities and Exchange Commission to raise up to 7.9-billion pesos in an initial public offering. OPGI, which holds OceanaGold’s interest in the Didipio mine, plans... 

The Didipio mine, in the Philippines
The Didipio mine, in the Philippines

Rare earths prices seen rebounding in second half of 2024 - analysts

By: Reuters     5th February 2024 Rare earth prices have likely bottomed out and are poised to rise later this year on demand from electric vehicles (EVs) and wind powerand as dominant producer China is expected to pull back on expanding output quotas, analysts said. Rare earths are a group of 17 elements used in products from... 

Rare earths prices seen rebounding in second half of 2024 - analysts

From green hype to bailouts, the nickel industry has imploded

By: Bloomberg     5th February 2024 Just 18 months ago, the world’s biggest mining company was in a nickel frenzy. BHP Group, to much fanfare, had struck a deal with Tesla to supply it with the crucial ingredient for electric vehicles. It was about to go toe-to-toe with Australian billionaire Andrew Forrest for control of one of... 

From green hype to bailouts, the nickel industry has imploded

Coal line criminals identified, must be jailed – Transnet 

By: Martin Creamer     2nd February 2024 The criminal syndicates that regularly bring South Africa’s coal export line to a halt have been identified through the intelligence operations that are conducted by Transnet Freight Rail (TFR). What is lacking is the ability of law-enforcement agencies to then work on information, see to... 

From left, Randy Fabi, Alan Waller, Gavin Kelly, Xolani Mbambo, Theo Johnson and Matthias Brodner.
Photo by Creamer Media
From left, Randy Fabi, Alan Waller, Gavin Kelly, Xolani Mbambo, Theo Johnson and Matthias Brodner.

Russia's Rusal loses suit against Rio Tinto over alumina refinery, can appeal

By: Reuters     2nd February 2024 Russian aluminium producer Rusal has lost a lawsuit against global miner Rio Tinto that sought to win back access to its 20% share of the alumina produced at a jointly owned refiner in Queensland, a Australian Federal Court filing showed on Friday. Australia responded to Russia's 2022 invasion of... 

A conveyor at the QAL refinery

Western miners lag as oil powers enter race for Africa's critical metals

By: Reuters     2nd February 2024 Risk aversion is likely to leave major Western miners lagging in a race to tap Africa's reserves of critical raw materials that has gathered pace now Middle Eastern oil powers have begun to emulate China's years of investment on the continent. Attracting the capital needed to advance copper,... 

Copper sheets produced in the DRC

WPIC highlights South Korean hydrogen market as driver for platinum demand

By: Marleny Arnoldi     2nd February 2024 The World Platinum Investment Council (WPIC) is encouraged by the South Korean government’s more to accelerate the country’s transition to a clean hydrogen economy and its advancement of the hydrogen industry. South Korea held its sixth Hydrogen Economy Committee meeting at the end of last year,... 

A hydrogen fueling station

Bougainville extends Panguna licence, paves way for redevelopment

By: Creamer Media Reporter      2nd February 2024 The share price of Bougainville Copper (BCL) more than doubled on Friday as the ASX-listed company announced a five-year extension of its exploration licence for the Panguna project in central Bougainville, which is part of Papua New Guinea. At a ceremony on Friday, to mark the granting of the... 

Lithium project delays, more M&A on the cards as market transitions – Wood Mac

By: Mariaan Webb     1st February 2024 The lithium market is entering a period of transition, with the once-unstoppable demand growth for the key battery material now decelerating as the market matures and electric vehicle (EV) sales are subdued. “Lower government incentives and inadequate infrastructure are expected to curtail EV... 

Lithium project delays, more M&A on the cards as market transitions – Wood Mac
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