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

Published: 20 May 24

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 China Iron and Steel Association (CISA) said in a post on its WeChat account.

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

Published: 20 May 24

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 a ton for the first time. The market has seen many optimistic forecasts, and BHP Group’s wants to buy rival Anglo American chiefly for its copper mines.

Energy trader reports strong market demand for green electricity from 210 MW Hendrina Wind Farm

Published: 20 May 24

Newly formed electricity trader Apollo Africa reports that it is experiencing strong demand from potential customers for the renewable electricity that will be produced from the grid-ready 210 MW Hendrina Wind Farm, being developed by Enertrag in the Mpumalanga province. Apollo Africa, which is majority-owned by JSE-listed Reunert and is in the final stages of securing a trading licence from the National Energy Regulator of South Africa, has entered into an exclusive agreement with Enertrag for the electricity that will be produced at the facility.

DWS set to submit NWRIA Bill to Presidency

Published: 20 May 24

Following the adoption of the National Water Resource Infrastructure Agency (NWRIA) Bill, the Department of Water and Sanitation (DWS) is preparing to submit it to President Cyril Ramaphosa for final sign-off. The Bill, which aims to establish the NWRIA to ensure sustainable, equitable and reliable supply of water from national water resources infrastructure, was adopted earlier in May by the Portfolio Committee on Water and Sanitation and the National Assembly.

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

Published: 20 May 24

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 have boosted bets in recent sessions that the Federal Reserve could reduce borrowing costs as early as September.

With financing secured, Alpha HPA greenlights Stage 2 project

Published: 20 May 24

Australian critical minerals company Alpha HPA on Monday announced a final investment decision for the second stage of its high-purity alumina (HPA) refinery in Gladstone, Queensland, on the back of a positive definitive feasibility study (DFS) and securing A$520-million for the development. The financing comprises A$320-million credit, along with a A$80-million cost overrun, from government agencies and a fully underwritten institutional placement of A$120-million.

AIC probing ‘high potential incident’ at Eloise

Published: 20 May 24

Copper miner AIC Mines has suspended operations at its Eloise mine, in north-west Queensland, following a “high potential incident” over the weekend. The incident involved an underground loader straying off course while preparing a stope area for backfilling, resulting in a loss of control and becoming stuck.

The cathode side of proton exchange membrane (PEM) fuel cells that convert hydrogen to electricity require platinum.

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

Published: 20 May 24

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.

Rough diamonds produced by Alrosa in Russia

US lukewarm on G7 Russian diamond ban after industry backlash

Published: 19 May 24

The United States is re-evaluating the strictest elements of a ban on Russian diamonds from the Group of Seven major democracies, after opposition from African countries, Indian gem polishers and New York jewellers, seven sources said. The sanctions package, agreed in December and including a ban across the European Union, represents one of the industry's biggest shakeups in decades.

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

Published: 19 May 24

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 pitting two of its biggest names against each other in a public tussle. Anglo has already rejected two non-binding proposals from BHP — criticizing both the valuation and complexity — and instead rushed out a dramatic restructuring plan of its own.