• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 2 hours Cpt Lauren Dowsett
  • 2 hours Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 43 mins Its going to be an oil bloodbath
  • 57 mins Marine based energy generation
  • 9 mins What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 6 hours Which producers will shut in first?
  • 3 hours CDC covid19 coverup?
  • 3 hours How to Create a Pandemic
  • 3 hours Iran-Turkey gas pipeline goes kaboom. Bad people blamed.
  • 21 hours The Most Annoying Person You Have Encountered During Lockdown
  • 14 hours The idea that electric cars are lowering demand is ridiculous.
  • 15 hours Russia's Rosneft Oil Company announces termination of its activity in Venezuela
  • 20 hours Natural gas price to spike when USA is out of the market

Breaking News:

IEA: OPEC Can’t Save The Oil Market

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

The Weirdest Mining M&A Partner I've Seen

The past several years we've seen a lot of different buyers for mining projects globally. Corporations, investment funds, sovereign wealth funds, and international financial agencies have all gone in for project purchases.

But yesterday we got news of one of the strangest-sounding buyers I've come across. For mining projects being shed by precious metals developer Aquarius Platinum in South Africa.

That purchaser is the China National Arts & Crafts Corporation. Who Aquarius announced will buy the Blue Ridge platinum project for a total $37 million in cash.

An arts and crafts corporation sounds like an odd owner for the Blue Ridge project. Which includes a developed underground platinum mine, currently placed on care and maintenance due to low metals prices. Are a bunch of scrapbookers going to be out re-starting the dump trucks?

But the deal actually makes more sense after a look at who Arts & Crafts Corporation is. And suggests some interesting trends developing in the platinum business.

The buying group in fact isn't a corporation at all. It's a Chinese government enterprise. One whose mission is to "bring the traditional Chinese culture to the world", according to its website.

Arts & Craft Corp thus deals in things like textiles, ceramics, fine art and jewellery. That last arena apparently being the driver for its interest in platinum mining.

In fact, the group is involved in the import and export of several jewellery-making materials. Including silver, gold, and diamonds. It also happens to be an affiliate of China Platinum Company--a firm that serves as the main import channel for platinum into China.

It would thus appear from yesterday's deal that the company has made a strategic decision to move beyond just import of platinum. And into upstream mining development--taking direct ownership of producing centres and the associated output.

This is a very significant signal. Showing us that Chinese interest in platinum is perhaps ramping up. And that Chinese buyers may represent an expanding source of funding for platinum projects globally.

We'll see if more deals follow from the arts and crafts folks.

Here's to being crafty,

By. Dave Forest


Download The Free Oilprice App Today

Back to homepage






Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News