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  1. 15h ago

    Platinum and palladium receive yet another futures trading boost

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Platinum and palladium are among four precious metals included in new futures contracts launched in London, World Platinum Investment Council (WPIC) reports, amid New York-listed Intercontinental Exchange's commencement of trading precious metals derivatives in London. Intercontinental Exchange's contracts, which also cover gold and silver, are linked to London's established daily benchmark price auctions and offer market participants an additional way to manage price exposure and risk. For platinum and palladium, the development could provide greater flexibility for investors and industrial users, although the impact on market liquidity will depend on trading activity and uptake, WPIC noted on LinkedIn. Platinum and palladium was also given a major trading boost from September 28 when China gave international access to the trading of the two platinum group metals (PGMs) on the Guangzhou Futures Exchange (GFEX), where domestic exchange activity has been improving price discovery since the launch in November last year. The GFEX's investment scope now reaches out to foreign institutional investors and giving them full access to platinum and palladium futures and options contracts. On the GFEX, the form of the platinum and palladium being traded also goes beyond bar and includes sponge. This is tailor made for China where most industrial and automotive end-users of platinum and palladium much prefer it in the form of ready-to-use sponge. Expected to result from international participation in platinum and palladium is price discovery and the emergence of increased arbitrage opportunity. Interestingly, GFEX adheres to the technical specifications, quality standards and responsible platinum and palladium sourcing rules of the London Platinum and Palladium Market (LPPM) and entered the futures fray alongside the likes of Chicago Mercantile Exchange (CME), London's LBMA, Japan's Osaka Exchange as well as over-the-counter trading entities. DEMAND OUTLOOK Widening industrial uses for PGMs have been good for the demand outlook for the metals, which are hosted overwhelmingly in South Africa. PGMs are needed, for example, for proton exchange membrane (PEM) electrolysers that generate hydrogen as well as in fuel cell electric vehicles (FCEVs) that convert the hydrogen back into electricity for mobility or stationary poser. Reiterated in a report earlier this month is that Algeria and Tunisia have joined Italy, Austria and Germany in strengthening cooperation on the 3 300 km SoutH2 Corridor pipeline project, which aims to transport renewable hydrogen from North Africa to European markets in the early 2030s. The five countries signed a political declaration to support project development, financing and commercial partnerships. Also, US Society of Piping Engineers and Designers president Javier Rubio has reported that the 18 green hydrogen projects under construction or in operation across Europe, China, India, and Saudi Arabia represent about $26-billion in announced and reported project investment, excluding projects without confirmed figures. Japanese vehicle manufacturer Toyota regards hydrogen as an important energy source, WPIC has noted, in realising a carbon-neutral society. It introduced its first FCEV, the Mirai, in 2014 and has sold it in more than 30 countries and regions. Since 2019, Toyota has also begun supplying fuel cell systems that generate electricity from hydrogen, and has provided more than 3 500 fuel cell systems to over 100 customers worldwide for applications such as buses, rail, and stationary generators. In partnership with others, Toyota has also developed hydrogen cartridge and hydrogen sauna, promoting decarbonisation in areas of everyday life as well. Fuel Cell Works reports that...

  2. 19h ago

    Canadian fed grants $193m to modernise two aluminium smelters

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. With Canada's Industry Minister Mélanie Joly having announced a $193-million investment for the aluminium sector under the Strategic Response Fund last week, federal department Innovation, Science and Economic Development Canada (ISED) says the two targeted projects will help maintain about 6 000 full-time jobs in Québec and across Canada, support 65 co-op student placements and strengthen collaborations with Canadian research institutions, post-secondary institutions and small- and medium-sized enterprises. The first investment comprises $164-million for Rio Tinto's aluminium value chain in Saguenay–Lac-Saint-Jean as part of a $818-million strategy to strengthen production capacity and decarbonise the diversified miner's regional operations. Rio plans to construct a new billet casting centre at the Alma smelter to support the production of value-added aluminium products and modernise anode baking furnaces at the Grande-Baie smelter through major infrastructure upgrades and equipment refurbishment. The second investment that Joly allocated for support is that of Aluminerie Alouette. About $28-million will go to supporting the company's $135-million project to modernise and optimise its electrolysis operations. These technological improvements will directly target energy performance, industrial competitiveness and the reduction of greenhouse-gas (GHG) emissions. "By investing in transformational, emissions-reducing projects like Alouette's, we are increasing Canada's global competitiveness in the aluminium sector. As global tariffs put pressure on Canadian industries and reshape international trade dynamics, the government of Canada is investing in critical mineral resources, modernising the aluminium supply chain and protecting well-paying Canadian jobs," ISED states. Rio Tinto aluminium Atlantic operations MD Sébastien Ross welcomes the federal support for Canada's aluminium industry, particularly as Rio itself is celebrating 100 years of aluminium production in Saguenay–Lac-Saint-Jean, and in the context of increased international competition. "This investment is a real driver for accelerating modernisation, growth and the decarbonisation of our operations in the region. It's helping reinforce our value chain, support quality jobs and create the necessary conditions for continuing to invest, innovate and produce here in Quebec and in Canada," Ross adds. In turn, Aluminerie CEO and president Claude Gosselin comments that with the fund's support the company can continue to modernise its operations, including improving energy efficiency and reducing GHG emissions. "As the largest smelter in the Americas, we are proud to generate significant economic benefits for Canada, notably through about 1 000 quality jobs and hundreds of millions of dollars in purchases of goods and services. In a geopolitical context where uncertainty remains high, the government's support strengthens investor confidence and allows us to keep investing toward a sustainable future," Gosselin says. Rio is the largest producer of primary aluminium in Canada with its Canadian hub in Montréal. Rio employs about 4 300 people in Québec alone, with an estimated 14 000 employees across its aluminium and mining segments in Canada. In turn, Aluminerie is the largest aluminium smelter in North America, producing about 633 000 t of primary aluminium every year. Canada has nine primary aluminium smelters, with the majority being in Québec and one other in British Columbia.

  3. 3d ago

    Australia's Rio Tinto to invest $1.9bn in Queensland bauxite project

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Rio Tinto said on Friday it will invest $1.9-billion to develop the Kangwinan bauxite project in Queensland, Australia, replacing output from its ageing Andoom mine and lifting annual production capacity at its Weipa bauxite operations. The miner said the investment would add 20-million tonnes of annual bauxite production in Weipa, with first output targeted in 2029 and full production expected by 2032. Located in Queensland, Weipa is one of the world's largest bauxite mining complexes. It supplies the ore to make alumina and aluminium for applications ranging from construction and transportation to packaging and renewable energy infrastructure. Kangwinan will replace production from the Andoom mine near Weipa as it reaches the end of its life this decade, while increasing Weipa's annual production capacity to about 44-million tonnes from around 38-million tonnes currently. The development will also help offset the planned 2029 closure of Rio's Gove bauxite mine in the Northern Territory. The announcement follows Rio's agreement last month to acquire the adjacent Aurukun bauxite project from Glencore and Mitsubishi, subject to regulatory approvals, as it seeks to extend long-term growth in the region. Rio said the combined Amrun, Kangwinan and Aurukun operations are expected to support its Weipa bauxite business well beyond the middle of the century.

  4. 3d ago

    Iridium, ruthenium continue to outperform, Valterra Platinum reports

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Minor platinum group metals (PGMs), particularly iridium and ruthenium, are continuing to outperform, supported by robust demand from emerging technology applications, Valterra Platinum reported on Friday, October 23. The price Valterra realised for iridium in the three months ended September 30 was $7 720/oz, compared with $4 287/oz in the corresponding period of last year. The price realised for ruthenium in the quarter was $1 583/oz, compared with $799/oz in the third quarter of last year. The price of iridium is rising because of supply constraints combined with growing industrial demand from green hydrogen, AI, and electronics and the ruthenium from data centre and cloud computing demand. The six PGM products of integrated producer Valterra are platinum, palladium, rhodium, ruthenium and osmium, along with associated metals such as gold and base metals such as nickel and copper. The average realised basket price was R38 815/PGM ounce, or $2 383/PGM ounce, representing year-on-year increases of 15% in rand terms and 24% in dollar terms. Although major PGM prices moderated quarter-on-quarter amid weaker automotive sales and broader macroeconomic concerns, they remained well above prior-year levels, the Johannesburg Stock Exchange-listed company stated in its third-quarter production report on the stock exchange news service (SENS). Total PGM production, expressed as metal-in-concentrate containing five element (5E) PGMs and gold, decreased by 6% to 804 300 oz, driven by lower own-mined volumes and by weaker purchase of concentrate volumes. Own-mined PGM production decreased by 5% to 511 900 oz, primarily driven by the impact of safety stoppages at the Amandelbult underground operation, where Olwethu Kutta lost her life in a fall-of-ground at Tumela in July, which Valterra CEO Craig Miller has described as being unacceptable. "Our thoughts are with her family, friends, and colleagues and we remain unwavering in our commitment to preventing a recurrence." A call to action has been launched to strengthen safety leadership and controls across the business, supported by an independent review from industry-leading safety specialists. "The findings and recommendations from these processes are being implemented across our operations as we continue to strengthen our safety culture and pursue our goal of zero harm," Miller reported. Purchases of PGM concentrate decreased by 7% to 292 400 oz, reflecting reduced volumes from various third-party producers. While refined third-quarter PGM production, excluding tolling, decreased by 41% to 576 900 oz, refined production for the nine months ended September was broadly in line with the prior year. Owing to the lower refined production, PGM sales volumes decreased by 27% but, once again, sales volumes for the nine months ended September remained in line with the same period in 2025. Guidance for 2026 remains unchanged, with metal-in-concentrate and refined production expected to be between three-million ounces and 3.4-million ounces. Cash operating unit costs are expected to be at or around the upper end of the guided range of R19 000/PGM ounce to R20 000/PGM ounce owing to inflationary pressures on fuel, drill steel, chemicals and certain explosives. These inflationary pressures are associated with the ongoing Middle East conflict, coupled with the impact of the safety-related stoppages on production volumes. Mitigation initiatives remain in place through operational efficiencies, disciplined cost management and procurement interventions. The targeted all-in sustaining cost remains at about $1 050/3E ounce. "Looking ahead, production remains on track to be delivered within our 2026 guidance range, and we remain focused on operating safely, executing with di...

  5. 3d ago

    Martin Creamer talks about: Rainbow Rare Earths, Alcoa Corporation and Andrada Mining

    Mining Weekly Editor Martin Creamer discusses Rainbow Rare Earths recent lab success; the sale of South Africa’s aluminium value chain assets to Alcoa Corporation; and Andrada Mining's quadrupled-plus gross profit.

  6. 4d ago

    Gold Fields' South Deep aligning mining with education to strengthen job pathways

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Gold Fields' South Deep mine has signed memoranda of understanding (MoUs) with Sibanye-Stillwater, AngloGold Ashanti, Mienara, Phahama School of Specialisation and Westcol Technical and Vocational Education and Training College (WTVETC) to support a collaborative initiative aimed at addressing the growing gap between skills development and employment opportunities. The collaborative Siyakha Sonke initiative is South Deep mine's contribution to the Gold Fields group legacy programmes portfolio, a collection of long-term social investments designed to create sustainable opportunities and lasting benefits for host communities beyond the life of mining. Its programmes aim to strengthen community resilience, support sustainable development and promote long-term socioeconomic stability in host communities. The initial MoUs bring together mining companies, educational institutions and growth sectors such as renewable energy and manufacturing to help prepare people for employment opportunities in a rapidly changing economy. Additional partnerships are currently being explored and developed. In the West Rand, where mining remains a significant employer, unemployment, particularly among young people, continues to be a critical challenge. Siyakha Sonke, which means "we are building together", is a multi-stakeholder initiative catalysed by Gold Fields' South Deep mine and piloted in the West Rand. The programme seeks to align and strengthen existing efforts across industry, education and other stakeholders to develop a scalable model that improves pathways to employment and supports more resilient local economies over the long term. As technology, innovation and automation reshape industries, the programme aims to help ensure that skills development keeps pace with changing workforce requirements and that communities are better prepared for future opportunities. "The resources we mine are not infinite, and technology is advancing rapidly. We need to close the gap between the skills required today and those needed tomorrow by developing capabilities that are future-ready and transferable across mining and other growth industries," Gold Fields South Africa senior VP Benford Mokoatle explained. No single organisation can solve South Africa's skills and employment challenge. To support greater collaboration, Siyakha Sonke held its first working group meeting in June, bringing together stakeholders to map regional assets, identify collaboration opportunities and develop practical pilot initiatives to strengthen links between education, training and employment. The programme is currently laying the foundation for four key workstreams aimed at aligning skills development with industry demand, identifying transferable skills that support mobility across sectors, strengthening pathways to employment, and fostering collaboration between industry, education institutions, government and other stakeholders. Sibanye-Stillwater executive VP: stakeholder relations Thabisile Phumo pointed out that as the mining industry evolved, the skills required would change. "This partnership gives us an opportunity to identify potential replacement skills and create pathways for employees and communities to transition into successor economies. This is an important element of preparing for the future and strengthening the resilience of communities beyond the life of the mine." The release to Mining Weekly stated that Siyakha Sonke's aim was to strengthen the link between skills development and employment opportunities. The initiative, the release stated, brought together partners from the mining, education, training, government and private sector to help prepare communities for a changing economy and create pathways to future employme...

  7. 4d ago

    At least $100bn of investment for 134 new lithium mines is needed for 2050 demand

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. To meet 2050 lithium demand, the equivalent of 134 new lithium mines will be needed, says supply chain researcher Benchmark Mineral Intelligence. This equates to a new mine every two months for the next 24 years, explains Benchmark Mineral Intelligence lithium product director Dr Cameron Perks. He adds that demand growth between 2040 and 2050 alone will require 44 new lithium mines each producing about 36 000 t/y of lithium carbonate-equivalent (LCE). Benchmark Mineral Intelligence forecasts that global lithium demand will reach about seven-million tonnes of LCE in 2050, with 76% of this driven by electric vehicles (EVs). This is an increase of 4.8-million tonnes from demand of 2.11-million tonnes of LCE in 2026. "Meeting 2050 demand will require more than $100-billion of investment before any contribution from recycling, rising to more than 180 mines in our upside scenario," says Perks. "The biggest challenge is sustaining that investment through price cycles, while competing for capital with AI, defence and the wider energy transition." DEMAND DRIVERS Between 2026 and 2050, lithium demand is forecast to more than triple, with the vast majority of this growth driven by the battery market. Batteries account for 92% of lithium demand in 2026, up from around 70% in 2020. EVs currently account for 55% of lithium demand, and this is forecast to grow to 76% by 2050 as the rapid recent growth in stationary storage moderates. "Lithium demand from stationary storage has grown more than 60% a year for the past two years, but we expect that pace to slow significantly, to around 5% a year to the end of the decade," Perks points out. SOURCES Australia is expected to be the largest producer of mined lithium in 2026, accounting for 29% of mined supply. However, Australia's share of forecast mine supply is set to fall to 20% by 2050, even with large-scale brownfield expansions such as PLS's P2000 factored in for a start around 2030. "Many of Australia's mines will be depleting by 2050. Price volatility has made financiers hesitant, and the regulatory burden is growing. It's not too late, but if Australia doesn't back growth, other regions will take that share," Perks emphasises. In contrast, China's share is set to remain relatively stable at around 25%, supported by continued investment in domestic resources and an emphasis on battery supply chain dominance. North American supply is set to increase from 1.7% of mined supply in 2026 to 13% by 2050, as the region works to meet its own domestic requirements and reduce reliance on China. North America currently accounts for 6% of lithium demand from cell production, which is forecast to increase to 12% by 2050. Europe is similarly targeting domestic and allied supply chain development. The region currently accounts for less than 1% of mined supply, despite accounting for 7% of lithium demand from cell production. By 2050, 5.5% of mined lithium is forecast to come from Europe, which will take 8% of demand. "Europe and North America face their own unique challenges. Many of the largest and most promising projects require novel technology or face environmental and community concerns. These aren't insurmountable, but they create significant delays, and they mean mines built in these regions simply cost more," Perks states. HIGHER CASE This analysis assumes Benchmark's base case. The number of mines could be significantly higher if Benchmark Mineral Intelligence's upside scenario of almost nine-million tonnes LCE of demand is realised, which would be largely driven by EV and energy storage policies worldwide. Perks explains that in the firm's upside case, the equivalent number of mines rises to around 180, which would require well over $150-billion of new investment...

  8. 5d ago

    Incoming Northern Star CEO flags possibility of asset sales

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Australia's Northern Star Resources on Wednesday flagged the potential for asset sales as the miner focuses on delivering its turnaround plan under a new CEO, amid pressure from both activist investor Elliott and suitor Gold Fields. Northern Star reported a 7.2% rise in first-quarter revenue from gold sales, helped by higher average gold sale prices that offset lower volumes from planned shutdowns, but missed market expectations. It, however, kept its full-year guidance intact. The result was the first time CEO Suresh Vadnagra faced investors since he took the helm of Australia's biggest gold miner on October 5. Vadnagra said his first focus was to deliver against company projections as processing at its Kalgoorlie operations ramps up, and flagged that he would assess the company's assets for value including for potential sales. The focus on delivery comes after Elliott in June called for a review and new leadership, citing repeated "operational missteps", including seven outlook misses in four years, and a share price that vastly underperformed its peers. Asked by an analyst on a results call about whether management saw potential value from asset divestment, Vadnagra said: "It's clear that there's an active process by the site team and the planning team to look at each (of our) assets and assess ... the way we're operating those assets, and is there a way for us to unlock further value or improve the resilience?" "Obviously, I'd like to apply my own lens to it as well with time, and it's an area that's high on the agenda." He declined to comment on the A$38.7-billion ($27.16-billion) takeover offer by South Africa's Gold Fields that the miner rejected. Northern Star's management has previously said that the offer was opportunistic. Gold Fields' CEO last week played down market speculation that it would raise its offer for Northern Star. Four Western Australian assets identified by Barrenjoey for potential sale include Jundee, Thunderbox, Carosue Dam, and some of its Kalgoorlie operations. HIGHER PRICES OFFSET LOWER VOLUMES Bullion traded higher during the September quarter, as central bank buying and geopolitical uncertainty helped the gold miner report a higher average realised gold price of A$4 999/oz, compared with A$4 452/oz a year earlier. This made up for the lower volumes owing to planned major shutdowns that hit its three production centres. The miner said quarterly gold sold totaled 364 000 oz, compared with 381 100 oz from a year before. Revenue from gold sales came in at A$1.82-billion for the quarter ended September 30, compared with A$1.70-billion a year earlier. That missed the Visible Alpha consensus estimate of A$1.93-billion.

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MiningWeekly.com provides real time news reportage through originated written & video material. Now you can listen to the top three articles on Mining Weekly at the end of each day.

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