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Societe Generale exits LME trading floor in blow for exchange
23rd August 2024 By: Bloomberg

Societe Generale SA is withdrawing from the London Metal Exchange’s open-outcry trading floor, in a move that will raise fresh questions about the viability of the iconic “Ring” as a key... 


Sadpo chairperson Gert van Niekerk.
South Africa’s small-end diamond producers are battling to survive, Sadpo reports
22nd August 2024 By: Martin Creamer

South Africa’s small-end diamond producers are battling to survive in a diamond situation in South Africa which is under severe pressure, South African Diamond Producers Organisation (Sadpo)... 


DRDGOLD CEO Niël Pretorius.
Big win for DRDGOLD is 60 MW solar farm as it repositions for future
21st August 2024 By: Martin Creamer

The big win for surface gold recovery company DRDGOLD is the 60 MW solar farm built at Ergo in the 12 months to June 30. “I call it a R3-billion prepaid electricity facility that will take care of... 


Iron-ore stockpiles
Iron-ore rises for third day on China policy support optimism
21st August 2024 By: Bloomberg

Iron-ore rose for a third day — recovering more of its 9% plunge last week — on signs Chinese authorities will take more steps to try and revive the country’s moribund property market. The... 


Cape Town Archbishop and Renewal Programme Patron Thabo Makgoba.
Mining companies need mechanisms to solve conflicts, Marikana memorial hears
20th August 2024 By: Martin Creamer

Mining companies need mechanisms to solve conflicts by reaching consensus with stakeholders on dealing with grievances and disputes, former Minerals Council South Africa VP and current Transnet... 


Menar MD Vuslat Bayoglu.
Menar envisages reviving Metalloys smelter, selling beneficiated manganese to world
20th August 2024 By: Martin Creamer

Menar, which recently signed a deal to acquire Samancor’s Metalloys, envisages reviving the ferromanganese smelting complex and exporting  beneficiated manganese to the world. “It’s an exciting... 


Iron-ore stockpiles in Australia
Iron-ore to extend rout as it’s ‘different this time,’ Citi says
20th August 2024 By: Bloomberg

Iron-ore is poised to extend declines into the $80/t range as China’s steelmakers reduce production, according to Citigroup Inc., which pared price forecasts and said that market dynamics have... 


Gold bars are worth a million dollars for the first time
Gold bars are worth a million dollars for the first time
20th August 2024 By: Bloomberg

For the first time ever, a bar of gold is worth a cool one million dollars. The milestone was reached Friday, when the precious metal’s spot price surpassed $2 500 per troy ounce, an all-time... 


Barrick Gold CEO Mark Bristow
Barrick Gold on way to becoming major copper producer
19th August 2024 By: Martin Creamer

In less than six years, at the end of the decade, 2030, Barrick will have grown its gold output by 30% and will be a copper miner up there with some of the biggest. It goes to the upper 400 000... 


Physical buyers win battle for copper market as funds retreat
Physical buyers win battle for copper market as funds retreat
19th August 2024 By: Reuters

Investors fleeing the copper market are likely to be sidelined for many months, leaving the field clear for physical players who expect demand in top consumer China and elsewhere to deteriorate... 


Nedbank CIB Head of Infrastructure, Energy and Telecommunications Mike Peo.
Major shift to green energy under way by mining houses across Africa – Nedbank CIB
16th August 2024 By: Martin Creamer

Virtually every mining house in South Africa is in the process of procuring green electrons, and similar advances are taking place across the African continent, from the Democratic Republic of... 


Captial CE Peter Stokes
Capital’s interim revenue up 9.8% y/y
15th August 2024 By: Darren Parker

Mining services company Capital has announced first-half revenue of $169.4-million, marking a 9.8% increase from $154.3-million in the 2023 interim period. The company's full-year revenue guidance... 


copper abstract periodic table
More investment in copper production outside of China needed
15th August 2024 By: Darren Parker

Copper demand is expected to rise by 75% to 56-million tonnes by 2050, necessitating substantial investment, a new report by data analytics firm Wood Mackenzie shows. The firm says that, as major... 


Exxaro CEO Dr Nombasa Tsengwa.
Exxaro expecting interest rates to begin to lower during the remainder of this year
15th August 2024 By: Martin Creamer

Johannesburg-listed coal and energy company Exxaro is expecting the Federal Reserve, the European Central Bank, the Bank of England and the South African Reserve Bank, among others, to start... 


China slashes steel output as industry sounds alarm on demand
China slashes steel output as industry sounds alarm on demand
15th August 2024 By: Bloomberg

Chinese steelmakers slashed output last month as woeful demand forced steep cuts on an industry contending with a collapse in margins. Steel production in July plunged about 9% on both the month... 


The Tosyali Holding logo on a piece of paper
Türkiye's Tosyali to establish integrated iron and steel plant in Angola
15th August 2024 By: Reuters

Turkish steelmaker Tosyali Holding said on Thursday that it will form a partnership with Angola's state oil company Sonangol to establish an integrated iron and steel plant. Tosyali's subsidiary in... 


Exxaro CEO Nombasa Tsengwa.
Exxaro declares interim dividend on higher revenue, lower profit
15th August 2024 By: Martin Creamer

Mining and renewable energy company Exxaro Resources has declared an interim dividend in reporting its interim results for the six months to June 30. Half-year revenue of the Johannesburg Stock... 


Dawie Roodt
Be prepared for new economic future as biggest Electra Mining Africa show approaches
14th August 2024 By: Martin Creamer

South Africa’s preparation for a brand new economic future is coinciding with the biggest ever Electra Mining Africa show, which takes place in Johannesburg, from September 2-6. Five interconnected... 


Gold approaches record high with focus on US inflation data
Gold approaches record high with focus on US inflation data
14th August 2024 By: Bloomberg

Gold edged up to near a record, as investors awaited key inflation data that could prompt the Federal Reserve to cut interest rates next month. Bullion reached as high as $2 478.61 an ounce –... 


Barrick CEO Mark Bristow
Africa delivers ‘usual reliable performance’ with steady output, lower costs – Barrick
13th August 2024 By: Martin Creamer

The Africa region delivered its “usual reliable performance” with steady production and well contained costs, Barrick CEO Dr Mark Bristow reported this week when it maintained its quarterly... 


Pandora CEO says diamond market faces disruption in next decade
Pandora CEO says diamond market faces disruption in next decade
13th August 2024 By: Bloomberg

Pandora A/S’s chief executive officer expects it will take less than ten years before consumers buy more lab-grown diamonds than mined stones because they increasingly weigh up costs and climate... 


Iron-ore takes fresh hit as concerns over global glut exact toll
Iron-ore takes fresh hit as concerns over global glut exact toll
13th August 2024 By: Reuters

Iron-ore slumped — following its fourth weekly loss in five — on concerns that a slowdown in steelmaking at Chinese mills, combined with record shipments from Australia and Brazil, would lead to a... 


Merafe CEO Zanele Matlala.
Merafe reports R720m half-year profit on higher chrome ore prices, weaker currency
12th August 2024 By: Martin Creamer

Johannesburg Stock Exchange-listed Merafe has reported a profit of R720-million for the six months ended June 30, on higher realised chrome ore prices and a weaker rand:dollar exchange rate. But... 


Gold steadies before US inflation data as recession fears linger
Gold steadies before US inflation data as recession fears linger
12th August 2024 By: Bloomberg

Gold steadied ahead of key US data prints this week, with traders focused on whether they will reinforce bets the Federal Reserve will soon pivot to monetary easing. Bullion was trading near $2... 


Olympic gold medals are worth more than ever after cost of metals surged
Olympic gold medals are worth more than ever after cost of metals surged
12th August 2024 By: Bloomberg

Olympic gold medals are worth more than ever at this year’s Paris games, with the raw materials that go into them having the potential to fetch about $900 each. The medals contain six grams of... 


ICMM CEO and president Rohitesh Dhawan
Mining companies strengthen their commitment to respect the rights of Indigenous Peoples
8th August 2024 By: Sabrina Jardim

Ahead of the International Day of the World’s Indigenous Peoples, on August 9, mining industry organisation the ICMM’s members have reaffirmed their commitment to respect the rights of Indigenous... 


Seriti Green CEO Peter Venn and Seriti Group CE Mike Teke.
Global energy winners will be those transitioning quickly and effectively
8th August 2024 By: Martin Creamer

When it comes to the energy transition, the countries that implement the strongest energy portfolios and power grids the fastest and most effectively are going to be the winning countries. That is... 


Glencore Group's Astron Energy refuelling station.
Astron’s a terrific asset, ferrochrome’s helping world to decarbonise, says Glencore
8th August 2024 By: Martin Creamer

Astron Energy, which has successfully rebranded one of South Africa’s transport fuel forecourt networks, is described by Glencore CEO Gary Nagle as being a terrific asset. With the restart to full... 


Copper processing plant in Argentina.
Argentina is the next frontier for copper growth, says Glencore
7th August 2024 By: Martin Creamer

Argentina is the next frontier for copper growth, “no question”, Glencore CEO Gary Nagle highlighted on Wednesday when the London- and Johannesburg-listed diversified mining and marketing company... 


Glencore CEO Gary Nagle.
Glencore highlights strategic achievements, earnings 33% down
7th August 2024 By: Martin Creamer

iversified mining and marketing company Glencore on Wednesday highlighted what it described as “strong strategic achievements for the group over the year to date”. Against the backdrop of lower... 


Glencore chairperson Kalidas Madhavpeddi.
Glencore to continue to oversee responsible decline of thermal coal operations
7th August 2024 By: Martin Creamer

Diversified mining and marketing company Glencore is to continue to oversee the responsible decline of its thermal coal operations over time, the board has decided. While the decision has been... 


AngloGold CEO Alberto Calderon.
AngloGold interim dividend up 450%, half-year free cash flow lifts to $206m
6th August 2024 By: Martin Creamer

Gold mining company AngloGold Ashanti on Tuesday reported a soaring interim dividend improvement on strong free cash flow uplifted by the elevated gold price, operational improvement and cost... 


A stack of gold bars
Gold halts slide after market rout triggered margin-call selling
6th August 2024 By: Bloomberg

Gold steadied after being pulled into Monday’s global rout, when it slumped as some traders cut holdings to cover potential margin calls. Spot bullion plunged as much as 3.2% in the previous... 


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