R/€ = 19.9731 Change: -0.0146
R/$ = 18.4154 Change: -0.0696
Au 2339.75 $/oz Change: 12.53
Pt 1030.70 $/oz Change: 11.30

Asia News

Mayur’s Orokolo Bay partner faces ‘sudden financial difficulties’

By: Creamer Media Reporter      21st February 2024 Australia-based Mayur Resources said on Wednesday that its partner in the Orokolo Bay vanadium, titanium and iron sands project, in Papua New Guinea, had pulled out, citing “sudden financial difficulties” related to the depressed state of the global nickel market. Mayur and Indonesia-based PT... 

Resources Watch  

21st February 2024 This week: South Africa looks to Japanese collaboration on green hydrogen development and, Power aggregators seen as key accelerators of South African mining’s energy transition 

Resources Watch
Resources Watch

China's top coal producing region tells miners to curb overproduction

By: Reuters     21st February 2024 China's top coal-producing region of Shanxi has ordered miners to curb overproduction, according to a notice this week from authorities in the northern province, sparking a rally in coking coal futures on Wednesday. Coal miners in Shanxi were asked to reduce output and carry out safety checks... 

India gets 40 bids for commercial coal mines 

By: Reuters     20th February 2024 ndia has received a total of 40 bids for some of the 32 commercial coal mines that were made available for auctioning in December, the government said in a statement on Monday, adding the bids would be opened on February 20. The world's second largest coal user, India began auctioning coal... 

India gets 40 bids for commercial coal mines

US moves to restore stockpiling ‘panic button’ in EV metals fight with China

By: Bloomberg     20th February 2024 Insiders liken it to a “panic button.” And for more than 80 years, the primary job of the National Defense Stockpile has been to keep the US military supplied with essential raw materials and protect against supply shocks. So when China surprised the markets by restricting exports of two niche... 

US moves to restore stockpiling ‘panic button’ in EV metals fight with China

Rich new Copper 360 discovery points to big Chile-type copper mine potential   

By: Martin Creamer     20th February 2024 Okiep Copper Company, which mining company Newmont established in 1937, is today one of the 100%-owned subsidiaries of South Africa’s Copper 360, the only pure copper play listed on the Johannesburg Stock Exchange. Under Newmont, the Okiep Copper Company paid out about R30-million in dividends... 

Copper 360 CEO Jan Nelson.
Copper 360 CEO Jan Nelson interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Worst of inflationary wave over, says BHP CEO

By: Mariaan Webb     20th February 2024 Diversified mining group BHP CEO Mike Henry has expressed confidence in a more favourable economic outlook for 2024, declaring that the worst of the global inflationary wave is over. BHP, which on Tuesday reported flat first-half underlying profit of $6.6-billion, is witnessing a shift towards a... 

BHP CEO Mike Henry
BHP CEO Mike Henry

Iron-ore slumps as demand doubts persist with China’s reopening

By: Bloomberg     19th February 2024 Iron-ore tumbled following a five-day run of gains as China’s markets reopened, with investors weighing prospects for near-term steel demand in the world’s largest importer. Futures dropped from the highest close since the end of January, slumping as much as 3.3% to pare most of last week’s... 

Coal India to bid for 3 mines in critical minerals auctions in Feb

By: Bloomberg     19th February 2024 State-run Coal India will bid for three blocks in critical minerals auctions conducted by the country's mines ministry in February, chairman and MD P M Prasad told analysts in a post-earnings conference call on Monday. The world's largest miner has also visited lithium mines in Australia and is... 

Indonesia, Vale agree price for divestment plan, Minister says

By: Reuters     16th February 2024 Indonesia and Vale Base Metals have concluded negotiations and agreed in principle to a price for the portion of shares the miner will sell in its Indonesian unit INCO, the Mining Minister said on Friday. Vale Canada, a unit of Vale Base Metals, and Japan's Sumitomo Metal Mining signed an... 

Crucial decarbonisation investigation into Hillside Aluminium is continuing intensely  

By: Martin Creamer     16th February 2024 Solutions to support decarbonisation, while ensuring operational competitiveness into the future, are continuing to be intensely investigated at South Africa's large Hillside Aluminium operation in KwaZulu-Natal, South32 CEO Graham Kerr assured Mining Weekly in an interview on Thursday, following... 

South32 CEO Graham Kerr.
South32 CEO Graham Kerr.

Now palladium comes under the Heraeus-Sibanye spotlight to boost hydrogen economy 

By: Martin Creamer     15th February 2024 Germany’s Heraeus Precious Metals and South Africa’s Sibanye-Stillwater are partnering to explore new applications for platinum-group metals (PGMs) in the hydrogen economy, with a specific focus on how applications can profit from the unique traits of palladium, one of the six PGM elements.... 

Palladium bars.
Palladium bars.

Barrick replaces 140% of gold reserve, no need for ‘dilutionary or delusionary’ M&A 

By: Martin Creamer     15th February 2024 New York- and Toronto-listed mining company Barrick has replaced more than 140% of its gold reserves in the last five years and more importantly at the same grade, Barrick CEO Dr Mark Bristow pointed out in reporting full-year 2023 gold production of 4.05-million ounces and copper output of... 

Barrick CEO Mark Bristow.
Barrick CEO Mark Bristow.

Hydrogen cars come into sharp new focus as global climate politics takes turn for better 

By: Martin Creamer     14th February 2024 For the first time, luxury vehicle manufacturer BMW has a fleet of hydrogen-fuelled cars on South Africa’s roads, supported by a green hydrogen refuelling infrastructure set up at its Midrand campus in Johannesburg. The outcome of BMW, Anglo American Platinum (Amplats) and Sasol finding common... 

The BMW iX5 Hydrogen passenger car being refuelled with green hydrogen.
BMW, Anglo American Platinum, Sasol talk to Mining Weekly’s Martin Creamer on the new BMW iX5 Hydrogen taking to South Africa’s streets. Video: Darlene Creamer.

Tycoon Birla’s Hindalco bids for Indian critical minerals leases

By: Bloomberg     14th February 2024 Hindalco Industries is bidding for critical minerals exploration sites being auctioned by India, as the metals producer owned by billionaire Kumar Mangalam Birla seeks to build its portfolio of materials required for the world’s green-energy transition. India began the process late last year to... 

Coal India to add new mines, expand existing ones to meet higher demand, chairman says

By: Reuters     14th February 2024 State-run Coal India plans to start operations at five new mines and expand capacity of at least 16 existing ones to address growing demand for the fuel, its chairman told Reuters on Wednesday. India has increasingly relied on coal to address record power demand in recent months, with the rise... 

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... 

IEA executive director Fatih Birol
Photo by Bloomberg
IEA executive director Fatih Birol

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.... 

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