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Copper price rises as trade thinned by China holiday 1 Copper International 

Copper price rises as trade thinned by China holiday

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Copper prices rose on Tuesday as the dollar lost ground, but trading volumes were thin as markets in top metals consumer China were closed for the week-long Lunar New Year holiday. March delivery contracts were exchanging hands for $4.44 a pound ($9,768 a tonne) on the Comex market in New York, up 2.3% compared to Monday’s closing. “Trading will be relatively quiet throughout the whole week because of the Chinese New Year. But at the moment base metals are supported by benign equity markets and dollar pushing metals up,” said… Read More Here
Gold back above $1 800-mark on firmer investment demand 4 Gold International 

Gold back above $1 800-mark on firmer investment demand

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Gold prices firmed above the key $1 800-level on Tuesday as investment demand strengthened, with a weak US dollar and Treasury yields offering further support. Spot gold rose 0.6% to $1 806.32 per ounce by 10:38 GMT. US gold futures climbed 0.6% to $1 807.40. A weaker dollar is helping gold along with “good uptake yesterday on the ETF side that took us through the magic $1 800 level,” independent analyst Ross Norman said. Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, rose to the highest levels since mid-August on… Read More Here
Sandvik to Upgrade EL Teniente in Two Phases 5 Equipment & Technology Mining technology 

Sandvik to Upgrade EL Teniente in Two Phases

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Sandvik will deploy its AutoMine load and haul technology to Codelco’s El Teniente mine in Chile in two phases between 2022 and 2027 as part of a broader automation and digitalisation upgrade. The first phase, to take place between 2022 and 2023, will see Codelco receiving two Toro TH663i trucks and two Sandvik LH514 loaders, as well as an AutoMine Fleet system capable of being scaled to support up to 16 machines and production hardware over several years. Additionally, the first phase of the order, which includes support contracts for… Read More Here
OPEN PIT MINING PROJECT IN LOWER ZAMBEZI NATIONAL PARK TO GO AHEAD UNDER STRICT ADHERENCE TO ZEMA SET MEASURES 6 Mining in Zambia 

OPEN PIT MINING PROJECT IN LOWER ZAMBEZI NATIONAL PARK TO GO AHEAD UNDER STRICT ADHERENCE TO ZEMA SET MEASURES

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Government says the embattled open pit mining project in the heart of the Lower Zambezi National Park will go ahead but under strict adherence to measures set by the Zambia Environmental Management Agency-ZEMA- to limit damage to the environment to a minimum. Green Economy and Environment Minister Collins Nzovu tells Phoenix News that with the whole process exhausted and the courts dismissing an appeal to stop the proposed large scale open-pit mine for want of prosecution, government is only left with the option of monitoring the situation and to ensure… Read More Here
Debswana annual diamond sales jump 64% 7 International 

Debswana annual diamond sales jump 64%

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Sales of rough diamonds by Debswana Diamond Company jumped 64% in 2021, statistics released by the Bank of Botswana showed on Monday, driven by the reopening of key global consumer markets. The total value of Debswana’s diamond exports stood at $3.466-billion in 2021 compared with $2.120-billion in 2020, the central bank data showed. Debswana, a joint venture between Anglo American unit De Beers and Botswana’s government, sells 75% of its output to De Beers with the balance taken up by the state-owned Okavango Diamond Company. Debswana sales fell by 30%… Read More Here
Cobalt outlook bullish through 2022 and beyond, ERG CEO says 8 Cobalt International Mining in DRC 

Cobalt outlook bullish through 2022 and beyond, ERG CEO says

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The situation in the global cobalt market is such that prices could climb to new highs through 2022 and beyond, according to the chief executive officer of diversified mining company Eurasian Resources Group (ERG). Benedikt Sobotka said that the surging price of the metal, which rose by 119% in 2021, was giving a very clear message: the market is severely short of cobalt, a key ingredient in the batteries that power electric vehicles (EVs). There were no discernible signs of any fundamental easing, he said, and prices remained on an… Read More Here
World: 2021 ended with rising gold demand (WGC) 9 Gold International 

World: 2021 ended with rising gold demand (WGC)

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Global demand for gold for the whole of 2021 has seen an increase, reaching 4,021 tons, according to the World Gold Council (WGC) report published on January 28, 2022. In this report, it is specified that demand has recovered a large part of the losses linked to the health crisis in 2020. World Gold Council notes, in the same report, the drop in gold consumption levels around the world in the first half of 2021 and the chain, the following three months, also with a drop. The report states that… Read More Here
DRC: with an estimated production of 75,277.39 tonnes between 2015 and 2019, cassiterite generated revenues of USD 457.6 million 10 Mining in DRC 

DRC: with an estimated production of 75,277.39 tonnes between 2015 and 2019, cassiterite generated revenues of USD 457.6 million

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The production of cassiterite in the Democratic Republic of Congo (DRC), for the period between 2015 and 2019, amounts to 75,277.39 tons, informs the directory of statistics of the Mining sector of the DRC, edition 2020. According to this report from the Ministry of Mines, this production generated revenues of around 457,623,437.96 million US dollars. Data from the statistics directory show that this production is estimated at 75,277.39 tonnes. As for their distribution, it is indicated that in 2015, the production of cassiterite amounted to 8,303.59 tons for exports of… Read More Here

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