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Copper price surges through $11,000 on supply squeeze 1 Copper International 

Copper price surges through $11,000 on supply squeeze

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Copper price continued to rally towards record highs on Tuesday as signs of extremely tight supply outweighed concerns that slowing growth in China will impact demand. Traders were paying huge premiums for quickly deliverable copper after stockpiles in the London Metal Exchange’s (LME) warehouse system tumbled to their lowest level in decades. The spread between cash and three-month futures surged to over $1,000 a tonne on the LME on Monday, a premium not seen since at least 1994. The spread has been widening since early October as demand outpaced supply… Read More Here
Mining’s Critical Role in the Fight Against Poverty 2 Corporate social responsibility 

Mining’s Critical Role in the Fight Against Poverty

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One doesn’t usually associate mining with social development and poverty eradication, but mining is central in alleviating poverty and achieving many of the objectives of the United Nations Sustainable Development Goals.  This role comes into sharper focus as the world works to curtail some of the worst impacts of the Covid-19 pandemic, which in less than two years has undone decades of progress in the fight against poverty and threatens to push up to a further 173 million people back below the poverty line. Annually, the United Nations’ International Day… Read More Here
Congo to audit forest concessions, suspend 'questionable contracts' 3 Mining in DRC 

Congo to audit forest concessions, suspend ‘questionable contracts’

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President Felix Tshisekedi has called for an audit of Democratic Republic of Congo’s vast forest concessions and the suspension of all “questionable contracts” until the audit is concluded. Home to 60% of the world’s second largest rainforest, Congo plays a critical role in regulating Earth’s climate but conservation groups say corruption and poor governance make its forests vulnerable to expanding agriculture and illegal logging. Tshisekedi said he wanted to examine the legality of several contracts, including one granted in September 2020 covering about 1.4 million hectares. On Sept. 12 last… Read More Here
LUBAMBE MINE SCOOP ZAMBIA MINES RESCUE NATIONAL FINAL HEAT COMPETITION 2021 4 Mining in Zambia Mining Companies 

LUBAMBE MINE SCOOP ZAMBIA MINES RESCUE NATIONAL FINAL HEAT COMPETITION 2021

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Lubambe Copper Mine Team B has won the recently held Zambia Mines Rescue Association (ZMRA) National Final Heat Competition that was held at Zesco Victoria Falls Hydro-Power Station in Livingstone from 13th to 17th September 2021. ZMRA President Mr. Maron Chongo announced the results at an Award Gala Dinner held at the New Fairmount Hotel in Livingstone on Friday 17th September 2021. In second position was Mopani Copper Mines Mufulira Team B and CNMC Luanshya Team A emerged third. A total of six (6) underground mine teams that include Mopani… Read More Here
Copper price soars to new high as stockpiles hit 47-year low 5 Copper International 

Copper price soars to new high as stockpiles hit 47-year low

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Copper price hit a record high on Friday as surging power prices threaten to curb supply at a time when exchange stockpiles are at rock bottom. Copper for delivery in December rose sharply for the third day in a row on the Comex market in New York, touching $4.7810 per pound ($10,518 per tonne), the highest since the record hit on May 12, 2021 — and a 12% gain for the week. Inventories available on the London Metal Exchange are at the lowest since 1974. Copper tracked by LME warehouses not… Read More Here
Sandvik orders beat forecast, confirms SMT listing 6 Mining technology International 

Sandvik orders beat forecast, confirms SMT listing

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Sweden’s Sandvik reported a third-quarter order intake that exceeded market expectations on Monday and said it was planning to list its specialty steel business on Nasdaq Stockholm next year. The metal-cutting tools and mining gear maker was helped by strong demand in the mining and infrastructure segments, while supply chain bottlenecks and component shortages remained a challenge. Demand from the automotive industry in China slowed somewhat in the quarter, as the global semiconductor shortage kept pressuring the sector. “We think it will gradually improve but I don’t think we will see a material improvement… Read More Here
Nokia launches 5G device, routers for mines 7 Mining technology International 

Nokia launches 5G device, routers for mines

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Nokia will launch a new 5G SA capable smartphone and a range of field routers to allow more enterprises to connect teams and equipment in demanding environments using private wireless networks. The company said its expanded portfolio of devices would enable better connectivity between machines, sensors and vehicles in harsh environments, such as mines. It explained that the “highly durable” Nokia XR20 smartphone could work in extreme temperatures from +55c to -22c, 1.8m drops and 1 hour underwater. Like other industrial handheld devices, it will come pre-loaded with applications such as… Read More Here
Metso Outotec wins deal for greenfield nickel project 8 Equipment & Technology Mining Supply Tenders Mining technology 

Metso Outotec wins deal for greenfield nickel project

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Metso Outotec has won a contract for a fleet of horizontal grinding mills and thickeners to a greenfield nickel project in Indonesia. The company said the machinery is worth approximately $27.8 million (€24 million), and it has been booked in its Minerals’ Q3/2021. Details of the project have not been disclosed. Additionally, the grinding mills have a total installed power of 10.6MW; the delivery will also include 13 high-compression thickeners (HCTs), part of its ‘Planet Positive’ offering. Markku Terasvasara, deputy chief executive officer, Metso Outotec, said it won the contract… Read More Here
DRC: Japanese will rehabilitate group 4 of Inga 2 9 Mining in DRC Energy 

DRC: Japanese will rehabilitate group 4 of Inga 2

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The Prime Minister, Jean-Michel Sama Lukonde Kyenge, received the delegation of a Japanese association ready to support the DRC in the rehabilitation of group 4 of Inga 2. This delegation was led to the Prime Minister by the Ambassador Extraordinary and Plenipotentiary of Japan in the DRC, Mr. Hiroyuki Minami, who said he was very happy to continue cooperation and to walk together with the DRC. At the end of the hearing, the head of this delegation, also former Japanese Minister of Foreign Affairs, and currently president of AFRECO, a… Read More Here
Zambian Govt to help ZESCO settle the over $400 million dollars owed Maamba Collieries Limited 10 Energy Mining in Zambia 

Zambian Govt to help ZESCO settle the over $400 million dollars owed Maamba Collieries Limited

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Energy Minister, Peter Kapala has said that government will facilitate a debt restructuring system to enable Zesco to dismantle over 400 million dollars it owes Maamba Collieries Limited. Mr. Kapala told journalists in Maamba today after touring Maamba Collieries Limited that Zesco has continued accruing the debt because it is currently only paying about 40% of the dues to Maamba Collieries Limited. The Energy Minister explained that Maamba Collieries Limited is looking at a guarantee that Zesco will settle the debt once the power utility company has raised enough money.… Read More Here

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