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US tariffs on minerals leave out markets that China dominates

Published: 15 May 24

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 list include ores of aluminum, manganese and chromium; rare elements, such as actinium and curium; and metals like tin and zinc. For the most part, the US doesn’t rely heavily on these products that now face a 25% import levy.

Anglo ditching De Beers is hard blow for troubled diamond market

Published: 15 May 24

The diamond industry has already been feeling the heat. Prices have slumped, Russian sanctions are threatening trade and the emergence of lab-grown gems is eating into some key traditional markets. Now, the sector’s most dominant name is being cast adrift. Anglo American on Tuesday said it will spin off or sell its De Beers business, ending an almost century-long relationship with the industry’s most famous name. The move, part of a wider restructuring to fend off a $43-billion approach from BHP Group, is a seismic shock for the diamond world.

BHP’s top Australian investor eyes restraint in battle for Anglo

Published: 15 May 24

Pension giant AustralianSuper, BHP Group’s largest Australian shareholder, said capital discipline was of “utmost importance” for the mining industry as investors weigh the heavyweight’s twice-rebuffed efforts to woo smaller rival Anglo American. Luke Smith, the senior portfolio manager who oversees the fund’s Australian mining investments, declined to comment on whether or not it would support a takeover, but confirmed it had engaged “more than once” with BHP.

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

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

Published: 15 May 24

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 personalities behind two of the world’s biggest miners came to the fore. Wanblad presented his own radical turnaround plan to investors, before Henry made his first public remarks on BHP’s bid at a conference in Miami.

Mining production, sales drop in March

Published: 14 May 24

Mining production decreased by 5.8% year-on-year in March, Statistics South (Stats SA) reports. The largest negative contributors were coal (-9.1% and contributing -2.3 percentage points); manganese ore (-12.2% and contributing -1 percentage point); iron-ore (-6.8% and contributing -0.9 of a percentage point); and platinum group metals (PGMs) (-3.6% and contributing -0.9 of a percentage point).

Mineral Resources Minister Gwede Mantashe

Mantashe warms to Anglo plan after opposing BHP bid

Published: 14 May 24

South Africa’s mines minister struck a conciliatory tone as Anglo American Plc announced plans to separate its platinum unit as part of a major shakeup following its rejection of two approaches from BHP Group. “It is their strategy and they must do anything that will optimize value,” Mines Minister Gwede Mantashe said by phone.

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

Published: 14 May 24

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 its portfolio to consist of copper in Peru and Chile, top-quality iron-ore in South Africa and Brazil, and the opportunity presented by the crop nutrients project in the UK.

Korea Zinc sees US opportunities as it targets big copper growth

Published: 14 May 24

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 copper production to 150 000 t/y by 2028 from around 30 000 t in 2023, chairman Yun Choi said in an interview in New York.

Two dead, one missing after tremor damages Polish coal mine

Published: 14 May 24

Two miners were killed in southern Poland and one remained trapped underground after an overnight tremor caused a partial collapse in a section of the Myslowice-Wesola mine, the mine's owner said on Tuesday. The tremor occurred 870 m underground.

Well testing ahead of gas flow to the generator

Kinetiko thrilled with successful onshore gas-to-power demonstration in South Africa

Published: 14 May 24

ASX-listed Kinetiko Energy has successfully demonstrated that it can produce gas-to-power (GtP) from an onshore natural gas resource at its Amersfoort project, in Mpumalanga, South Africa. The company is focused on developing an energy transition solution for South Africa focused on commercialising advanced shallow conventional gas projects in the country's Mpumalanga, Free State and KwaZulu-Natal provinces.