The Asia Miner

JUL-SEP 2019

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

Issue link:

Contents of this Issue


Page 3 of 59

the asia miner • volume 16 • issue 3 2 FROM THE EDITOR Investors are closely watching the ongoing US- China ঞt-for-tat over trade tensions, as well as Washington's threat of tariffs on Mexico, wondering whether the swagger of the two naঞons will negaঞvely affect the global economy. As investor concerns rise, so it appears does the price of world's safe haven commodity: gold. In Australia, gold prices hit an all-ঞme high in June, breaking the AU$1,900 per ounce mark for the first ঞme ever. Gold, it seems, proved once again that its price will spike largely as a response to geopoliঞcal tensions and uncertainty, holding strong to the percepঞon that it is a safe haven to ease the effects of global turmoil. Not everyone, however, is applauding gold's surge. According to the Australian industry research company, IBISWorld, despite the benefit of price growth, the lack of new gold discoveries in Australia over the past decade represents a rising challenge for the industry. Known gold reserves have consistently declined amid high producঞon and low replacement rates, with IBISWorld forecasঞng that Australia will produce 324 tonnes of gold in 2018-19, equivalent to 9.7 per cent of global output. IBISWorld predicts that by 2023-24, Australia's gold output will fall to 255 tonnes, which represents a slip from being the world's second largest gold producer to being fourth. Our feature on gold, starঞng on page 27, explores the commodity's trajectory in 2019 and charts its future, analysing new discoveries, including those in unexpected places such as fungi! Read on page 30 how geologists from Australia's naঞonal science agency, CSIRO, are revealing some of gold's secrets and coming up with innovaঞve ways to search for gold faster, in a more cost-effecঞve and environmentally safe ways. Gold, however, is not the only commodity experiencing a renaissance. Earlier in July, iron ore prices hit new five-year highs of nearly $US130 a tonne in the wake of shortages caused by the dam disaster in Brazil and producঞon outages from cyclones in Australia. Further shortages are on the cards a[er big miner Rio Tinto last month once again cut its annual producঞon forecast because of problems at its mines. Increased pressures of environmental and social impacts, the constantly evolving push for cleaner and more sustainable operaঞons are conঞnuing to drive mining companies and suppliers alike towards smarter, cleaner and more economical operaঞons and products. In this issue of The ASIA Miner, our "Leading Developments" secঞon focuses on new technological advances within the sector – from water use opঞmisaঞon and conservaঞon to automaঞon. We also look at policy developments and future direcঞons for the sector. Our regional focus in this issue of the magazine is on Papua New Guinea and the South Pacific. The ASIA Miner® Suite 1, G02/685 Burke Road, Camberwell, Melbourne, Victoria, 3124 Australia Phone: + 61 3 9006 1742 Mobile: + 61 417 517 863 Publisher—Lanita Idrus, Editor— Sylwia Przybyla, Corporate Office 8751 East Hampden Ave, Suite B-1 Denver, Colorado 80231, U.S.A. Phone: +1 303-283-0640 Fax: +1 303-283-0641 President—Peter Johnson, Graphic Designer—Michael Florman, mflorman@semcopublish- ProducƟon Manager—Juanita Walters, jwalters@semcopublish- SubscripƟons: $120/year—Tanna Holzer, AccounƟng—Lorraine Mestas, INTERNATIONAL SALES U.S. & Canada, Sales —Victor MaƩeucci, vmaƩ Tel +1 440 257 7565 Scandinavia, U.K. & European, Sales—Colm Barry, Tel +46 (0) 736 334670 Germany, Austria, Switzerland, Sales— Gerd Strasmann, Tel +49202 28146483 Japan Sales—Masao Ishiguro, Tel +81 (3) 3719 0775 Indonesia Sales—Dimas Abdillah, Tel +6221 2940 6337 The ASIA Miner® is published quarterly and every endeavour is made to ensure the contents are correct at Ɵme of publicaƟon. The Publisher and Editors do not endorse the opinions expressed in the magazine. Editorial advice is non-specific and readers are advised to seek professional advice for specific issues. Images and wriƩen material submiƩed for publicaƟon are sent at the owners risk and while every care is taken, The ASIA Miner® does not accept liability for loss or damage. The ASIA Miner® reserves the right to modify editorial and adverƟsement content. The contents may not be reproduced in whole or in part without the wriƩen permission of the publisher. Copyright 2019 The ASIA Miner ISSN: 1832-7966 PHOTOCOPIES: AuthorisaƟon to photocopy arƟcles for internal corporate, personal, or instrucƟonal use may be obtained from the Copyright Clearance Center (CCC) at +1.978.750.8400. To obtain further informaƟon, visit Geopolitical tensions and uncertainty are reawakening our trust in gold. Sylwia Przybyla Editor

Articles in this issue

Links on this page

Archives of this issue

view archives of The Asia Miner - JUL-SEP 2019