• 4 minutes Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 7 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 11 minutes Trump Will Win In 2020
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 14 hours Iran Vows Major War Even If US Conducts "Limited Strikes"
  • 4 mins Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 12 hours Europe: The Cracks Are Beginning To Show
  • 2 hours Hong Kong protesters appeal to Trump for support.
  • 14 hours Memorize date 05/15/2018 cause Huawei ban is the most important single event in world history after 9/11/2001.
  • 8 mins Millennials: A boil on the butt of the work ethic
  • 57 mins A little something for all you Offshore swabbies
  • 9 hours Ban Fracking? What in the World Are Democrats Thinking?
  • 14 hours LA Times: Vote Trump out in 2020 to Prevent Climate Apocalypse
  • 12 hours When Trying To Be Objective About Ethanol, Don't Include Big Oil Lies To Balance The Argument
  • 4 hours Shale profitability
  • 2 hours US and China are already in a full economic war and this battle for global hegemony is a little bit frightening
  • 5 hours Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 22 hours Yawn... Parliament Poised to Force Brexit Delay Until Jan. 31
  • 9 hours Let's shut down dissent like The Conversation in Australia
Alt Text

Are We Really Facing A Battery Metal Shortage?

Electric car builder Tesla foresees…

Alt Text

Vanadium Spikes On New Chinese Regulations

A new regulatory measure in…

Alt Text

Chinese Rare Earth Exports Tumble As Trade War Accelerates

China, the world’s largest producer…

Dave Forest

Dave Forest

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

More Info

Premium Content

Russia Could Gain A Stranglehold On This Market

I discussed last year how Russia is making big moves in African mining. And late last week we got confirmation the pariah nation is moving fast to control a number of key commodities here.

That's in Zimbabwe. Where Russian officials told local press they're proceeding quickly with one of the biggest mineral developments on the continent.

Russian Deputy Minister of Industry and Trade Georgy Kalamanov said live from Harare that a new $3 billion platinum complex is going "according to schedule." With the Deputy Minister noting that Phase I of the project--which includes mines and processing facilities--is just "a first step" for Russia. Related: Depressed Coal Markets Could Get Worse

Toward that end, he unveiled plans for Phase II of the platinum development. Which he said will commence in March 2016, and include two new underground mines and a second processing plant.

This news comes just over a year since Russia initially announced the Zimbabwe project. Suggesting that design and construction has moved very rapidly -- showing just how eager Russia is to cement influence in the mining sector here. Related: VW’s Dieselgate Scandal Could Cost Up To $87 Billion In Total

The implications are far-reaching for global markets. Russia domestically controls 30 percent of global platinum and palladium output. And Zimbabwe's mines represent the world's fourth-leading source of these metals -- meaning that Russian control in the African nation could create a stranglehold on this market. Related: Is The Oil And Gas Fire Sale About To Start?

And the emerging reports suggest Russia won't stop at platinum. With Zimbabwe press noting that Russian officials are also pursuing projects in gold and diamonds. Gazprom has even reportedly expressed interest in developing coal-seam natural gas in the country.

This is a critical development for metals, getting almost no press globally. What happens here could change the worldwide platinum market -- and the changes are coming very quickly.

Here's to keeping an eye out,

Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play