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Copper sinks to two-month low on China’s plan to release reserves

June 17, 2021June 17, 2021 admin

Copper price fell to the lowest in two months on Thursday after China announced plans to release copper, aluminum, and zinc from its national reserves to boost market supply and guide commodity prices to a return to normal ranges. The US Federal Reserve has also signaled that policy changes, which include raising interest rates and ending bond buying, may happen sooner than expected. This pushed the dollar to its highest in two months, making commodities priced in the greenback more expensive and less appealing to holders of other currencies. Copper for… Read More Here

Gold International

Gold price dives past $1,800 as Fed signals earlier rate increases

June 17, 2021June 17, 2021 admin

Gold prices slumped below $1,800 as the Federal Reserve sped up its expected pace of policy tightening amid optimism about the labor market and heightened concerns over inflation. Spot gold fell 2.3% to $1,771.36 per ounce by 11:30 a.m. ET, near its lowest in six weeks. US gold futures saw a more significant decline, down 4.7% to $1,772.20 per ounce. Gold’s decline comes on the on the back of Fed Chair Jerome Powell’s comments on Wednesday about potentially scaling back bond purchases. This was the first major hawkish turn from the central bank,… Read More Here

Mining technology

Metso Outotec launches LCS for filters

June 17, 2021June 17, 2021 admin

Metso Outotec is launching four progressive Life Cycle Services (LCS) programmes for filtration to help its customers overcome operational and process challenges, and has signed a global partnership with AM King. The LCS programmes are designed to improve overall filter reliability, performance and safety. Metso Outotec said that with the programmes in place, customers can simplify their maintenance, improve filter reliability, minimise downtime and maximise filter life while achieving the highest productivity for the filters. Metso Outotec has 15 different filter types available for hundreds of applications. The company has… Read More Here

Diamond International

One of only four 1,000 carat-plus diamonds ever found dug up in Botswana

June 17, 2021June 17, 2021 admin

Debswana Diamond, a joint venture between De Beers and the government of Botswana, has found a 1,098-carat stone, one of only four rocks over 1,000 carats ever unearthed, and the biggest by the company since it began operations five decades ago. The yet to be named massive stone was picked on June 1 at Jwaneng, the world’s richest diamond mine by value, which is undergoing a $2 billion expansion. Initial analysis suggests the diamond is close not only in size, but also in quality to the 3,106-carat Cullinan, discovered in South Africa… Read More Here

Aluminium Copper International Zinc

Market: China wants to free up its copper, aluminum and zinc reserves to stabilize prices

June 17, 2021June 17, 2021 admin

China on Wednesday announced plans to release industrial metals from its national reserves to lower commodity prices, which some analysts say could be the first such move in a decade from the world’s largest consumer of metals. The National Food and Strategic Reserves Administration has said on its website that it will release batch copper, aluminum and zinc to non-ferrous metal processing and manufacturing companies “in the near future” via public auction . The advice came as Beijing struggles to curb a surge in metal prices this year, fueled by… Read More Here

Mining in DRC Energy International New Mining Projects

Congo picks Australia’s Fortescue to develop giant hydro project

June 16, 2021June 16, 2021 admin

Democratic Republic of Congo’s (DRC’s) government said on Tuesday Fortescue Metals Group would develop the Grand Inga hydroelectric power project, including a 4,800-megawatt dam that has already been committed to Chinese and Spanish developers. Australia’s Fortescue confirmed earlier on Tuesday that it was in talks with Congo to develop a series of dams that could become the world’s largest hydroelectric project, but it said no formal binding agreement had been concluded. Fortescue’s involvement is the latest twist in Congo’s decades-long quest to expand Inga, whose two existing dams – completed… Read More Here

Mining in DRC Covid-19 Mining in Zambia

Interview: Blu Rock Mining Services

June 16, 2021June 16, 2021 admin

What is the current state of the Zambian mining industry? The mining industry was affected at the beginning of the year by the Covid-19 pandemic causing delays in transportation of goods and personnel, which affected mining operations. Blu Rock’s drilling activities were impacted as new investments were deferred to improve our business environment. In Zambia’s North-Western province Blu Rock is working in the Sentinel copper mine, Kalumbila with First Quantum Minerals. Kalumbila mine is very well established with good infrastructure as well as excellent and dedicated professional workmanship. We are… Read More Here

Mining Careers Mining in Zambia

JUNIOR CIVIL ENGINEER | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

June 16, 2021June 16, 2021 admin

Requisition Number: JR3177| Country: Zambia | Contract Type: On-going | Location: Solwezi | Categories: Mining Apply now Purpose of the role: This role is responsible for the maintenance and projects works in the process plant civil maintenance and repair section. Key Duties and Responsibilities: Inspect, maintain, supervise all civil site work in the Fixed plant section; to ensure that work is being performed according to specifications. Prepare and/or review plans, specifications and cost estimates for civil works in the fixed plant when required. Review and approve where required construction and service contract payment estimates and/or invoices. Analyse ground profile… Read More Here

Mining Careers Mining in Zambia

AUDIT OFFICER | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

June 16, 2021June 16, 2021 admin

Requisition Number: JR3232| Country: Zambia | Contract Type: On-going | Location: Solwezi | Categories: Mining Apply now Overall Job Purpose To undertake stock takes, to resolve stock discrepancies and to ensure accuracy of all stock records. To ensure all duly approved processed documentation are filed accurately and accordingly. Specific Job Responsibility This position will be required to adhere to all relevant requirements, policies, procedures and legal regulations pertaining to health, safety, environment and quality, as well as finance, human resources, and any other regulations as required by the company and relevant to the level of the role and responsibilities… Read More Here

Mining Companies Mining in DRC

Advocacy for the signing of an interministerial decree approving Manual procedures and the allocation of 0.3% of mining companies – DRC

June 16, 2021June 16, 2021 admin

Civil society through “The Congo is not for sale” and “Makuta ya Maendeleo” call, in a joint statement released on Monday, June 14, the Ministers of Mines and Social Affairs to sign an interministerial decree approving the Manual of procedures and management of the 0.3% endowment as a contribution to community development, in accordance with the revised mining code and the Consensus reached among all stakeholders. These non-governmental organizations indicate that this decree aims to define the modalities of management of this endowment by the representatives of the right holder… Read More Here