You are here

Written by 

Copper price jumps after weak US manufacturing data 1 Copper International 

Copper price jumps after weak US manufacturing data

admin
The copper price jumped on Tuesday after weak US manufacturing data eased concerns that the Federal Reserve will tighten monetary policy too rapidly. The Institute for Supply Management’s gauge of US factory activity dropped to the lowest in more than two years in September, causing the dollar to retreat. Copper for delivery in December rose 2.3% from Monday’s settlement price, touching $3.49 per pound ($7,678 per tonne). Jobs data due later this week should provide more clues on the Federal Reserve’s rate-hike trajectory, with more robust employment gains likely to firm its… Read More Here
Sandvik wows Electra with world’s first 65t electric truck 2 Equipment & Technology International 

Sandvik wows Electra with world’s first 65t electric truck

admin
Visitors to Sandvik’s stand at this year’s Electra Mining Africa show were thrilled by a glimpse of the Future of Mining, as they witnessed first-hand a mining breakthrough in battery technology. The focus of everyone’s attention was undoubtedly on Sandvik’s 65 tonne TH665B battery electric vehicle (BEV), introduced to the African market en route to Australia for intensive site testing. According to Jakob Rutqvist, Vice-President Strategy and Commercial at Sandvik, this innovation takes mining decisively into the Fourth Industrial Revolution. “Many industries are well advanced in the technological trajectory of… Read More Here
Gold price extends rally as Treasury yields retreat continues 3 Gold International 

Gold price extends rally as Treasury yields retreat continues

admin
Bullion has now extended its first weekly gain in three, as lower bond rates boosted the appeal of the non-interest-bearing asset. Investors remained on edge about the impact of aggressive interest rate hikes after a slew of Federal Reserve officials last week re-emphasized their resolve to fight inflation. Traders will now look to US jobs data due on Friday for more clues on the future path of central bank monetary policy. That means bullion could be in for more volatility, with strong numbers potentially spurring further gains in bond yields… Read More Here
Copper price pressured by crumbling demand 4 Copper International 

Copper price pressured by crumbling demand

admin
The copper price was down on Monday despite expectations of weakening demand reinforced by manufacturing data from around the world, a strong dollar, and rising inventories in warehouses approved by the London Metal Exchange. Copper for delivery in December fell 0.9% from Friday’s settlement price, touching $3.40 per pound ($7,480 per tonne). “It’s clear we will have lower demand and potentially lower prices into the latter part of this year,” said Bank of America analyst Michael Widmer. “The uncertainty is how hard the slowdown will be and what the full… Read More Here
Copper and cobalt prices continue to fall & Rise on the international market 5 Copper Cobalt Mining in DRC 

Copper and cobalt prices continue to fall & Rise on the international market

admin
The prices of commercial mining products from the Democratic Republic of Congo continue to rise and fall on the international market, according to projections by the National Mercurial Commission of the Ministry of Foreign Trade. Only tin is up this week in the market and is trading at 21.483 USD per ton against 21.426 USD per ton for the week, a price difference of 57 USD. Tantalum is stable on the market this week at 380 USD per kg. All other mining export products from the DRC are down this… Read More Here
Zambia plans mine-tax concessions while trimming budget deficit 6 Mining in Zambia Copper 

Zambia plans mine-tax concessions while trimming budget deficit

admin
Zambia plans to reduce its budget deficit next year, even as it makes further cuts to copper mining royalties, Finance Minister Situmbeko Musokotwane said. The spending shortfall will shrink to 7.7% of gross domestic product in 2023, from a revised 9.8% forecast for this year, Musokotwane told lawmakers Friday in Lusaka, the capital. Restructuring the royalty system in Africa’s second-biggest copper producer will cost the government 2.8 billion kwacha ($178 million) in lost revenue next year, he said. First Quantum Minerals Ltd., which accounts for more than half of Zambia’s… Read More Here
DRC: management of 0.3% of turnover, civil society protests against the obligation imposed to cover the mission expenses of agents of the Ministry of Mines 7 Mining in DRC 

DRC: management of 0.3% of turnover, civil society protests against the obligation imposed to cover the mission expenses of agents of the Ministry of Mines

admin
Civil society organizations members of the Coordination of Advocacy Actions for the Governance of Natural Resources are protesting against the decision imposed on mining companies to bear the mission expenses of agents of the Ministry of Mines and Social Affairs deployed in the provinces for the installation of members of organizations specializing in the management of the minimum endowment of 0.3% of turnover. As part of the establishment of specialized bodies for the management of the minimum allocation of 0.3% of the turnover of mining companies, civil society organizations call… Read More Here
DRC: in 2019, the mining sector represented 99.3% of the country's exports and contributed 24.79% to jobs 8 Mining in DRC Cobalt Copper 

DRC: in 2019, the mining sector represented 99.3% of the country’s exports and contributed 24.79% to jobs

admin
The mining sector of the Democratic Republic of Congo (DRC) remains, to this day, the key sector of the Congolese national economy. In 2019, exports from this sector were estimated at 99.3% of the country’s total exports and contributed 24.79% in jobs in 2019, informs a report by the non-governmental organization ” Makuta ya Maendeleo” on the Mining Fund for Future Generations (FOMIN). Considered as one of the richest countries in the world in natural resources, in particular mines, the Democratic Republic of Congo (DRC) is the world’s leading producer… Read More Here
Atlantic Lithium aims to begin production at Ghana mine in 2024 9 Lithium 

Atlantic Lithium aims to begin production at Ghana mine in 2024

admin
Australia’s Atlantic Lithium (LON: ALL) (ASX: A11) is targeting first production at its Ewoyaa project in Ghana, which would be the country’s first lithium mine, in the second half of 2024. The exploration and development company, which also has lithium projects in Ivory Coast, estimates the operation has the potential to generate nearly $5 billion in revenue over its 12.5-year lifetime. Reporting financial results for the year 2022, the Africa-focused exploration and development firm highlighted its agreement with Piedmont Lithium (ASX, NASDAQ: PLL), which would allow Atlantic Lithium to fund Ewoyaa, via a… Read More Here
Zimbabwe wants half of royalties paid in gems, precious metals 10 Diamond Gold 

Zimbabwe wants half of royalties paid in gems, precious metals

admin
Zimbabwe wants gold, diamond and platinum miners to pay half of their royalties to the government in the commodities themselves and the rest in cash, as the southern African country seeks to build its mineral reserves. The Treasury was concerned that the country does not have reserves of the minerals, which “serve as a source of trust in a country given that they carry no credit or counter party risks,” Secretary for Finance George Guvamatanga said in a letter sent to the Ministry of Mines on Sept. 2 and seen… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.