You are here

Written by 

Glencore proposes loans to ensure production at Zambia's Mopani copper mine 1 Copper Mining in Zambia 

Glencore proposes loans to ensure production at Zambia’s Mopani copper mine

admin
Glencore and Zambia’s State-owned mining company ZCCM-IH could jointly lend Mopani Copper Mines $200-million to help cover running costs under a proposal made by the global miner last week, a letter seen by Reuters showed. Glencore, which owned Mopani until March 2021, is prepared to lend up to $100-million as a short-term cash injection to Zambia’s Mopani copper mine, the global miner said in a Sept. 12 “non-binding letter of intent”. Mopani Copper Mines is a large mine and smelter complex that Glencore sold to state mining investment firm ZCCM-IH in 2021 after drawing the ire of the Zambian government… Read More Here
Vedanta and ZCCM-IH out of court to pave way for dialogue-Mines Minister 2 Mining in Zambia Copper 

Vedanta and ZCCM-IH out of court to pave way for dialogue-Mines Minister

admin
Mines and Minerals Development Minister, Paul Kabuswe says court cases between Vedanta Resources Holdings Limited and ZCCM – Investment Holdings (ZCCM-IH) have finally been suspended to pave way for dialogue. Vedanta Resources, which has an 80 percent stake in Konkola Copper Mines (KCM), has been embroiled in a long legal battle with ZCCM – IH, the minority shareholder, over the appointment of a provisional liquidator to run the operations of the mine. In 2019, the Zambian Government, through ZCCM-IH placed KCM under the provisional liquidator, citing poor management of the… Read More Here
Copper price rebounds on weaker dollar 3 Copper International 

Copper price rebounds on weaker dollar

admin
Copper price rose on Thursday, boosted by a weaker dollar and optimism about stimulus measures in China. Copper for delivery in December rose 1.58% from Wednesday’s settlement price, touching $3.52 per pound ($7,744 per tonne). The dollar index dropped after Japan intervened in the currency market to shore up the battered yen for the first time since 1998.  “A weaker dollar is definitely helpful, the question mark is how long that can be sustained when you’ve got the Fed being aggressive with rate increases,” said Nitesh Shah, commodity strategist at… Read More Here
Gold price wavers after Japan intervention, central banks’ rate hikes 4 International Gold 

Gold price wavers after Japan intervention, central banks’ rate hikes

admin
Gold fluctuated after Japan intervened in the foreign exchange market and central banks around the world followed the Federal Reserve with further monetary policy tightening. Japan’s Ministry of Finance moved to halt a slide of the yen against the dollar, the country’s top currency official Masato Kanda said Thursday. After the Fed’s third consecutive large-sized rate hike, central banks in Switzerland, Norway and Britain announced hikes of their own as officials rush to rein in rampant price increases. The greenback fell after Japan’s intervention before clawing back most of the… Read More Here
Fortescue pledges $6.2bn to eliminate emissions by 2030 5 Equipment & Technology International Mining technology 

Fortescue pledges $6.2bn to eliminate emissions by 2030

admin
Iron-ore major Fortescue has announced a $6.2-billion investment by 2030 to eliminate fossil fuel use and achieve real zero terrestrial emissions across its iron-ore operations. The miner said in statement on Tuesday that the investment would eliminate Fortescue’s fossil fuel risk profile and enable it to supply its customers with a carbon-free product. The majority of the capital will be spent in 2024 to 2028, and will include the deployment of an additional 2 GW to 3 GW of renewable energy generation and battery storage and the estimated incremental costs associated with a green mining fleet and locomotives.… Read More Here
Gemfields auction nets US$32.9 million 6 Gemstones Mining in Zambia 

Gemfields auction nets US$32.9 million

admin
Gemfields has announced the results of an auction of predominantly commercial quality rough emeralds held from 31 August to 19 September 2022. The emeralds were extracted by Kagem Mining. The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction. The auction saw 44 companies placing bids, generating revenues of US$32.9 million with an overall average sales price of US$ 9.01 per carat, the second… Read More Here
Europe upstages China as main driver for copper outlook 7 Copper International 

Europe upstages China as main driver for copper outlook

admin
Shrinking copper demand in Europe due to a manufacturing recession caused by the energy crisis will dominate market sentiment for some time with prices likely to retreat towards two-year lows early next year. Copper prices typically react to the ebb and flow of demand in China, which accounts for half of global consumption estimated at around 25 million tonnes this year. But this time the focus is on Europe, accounting for 15% to 20% of the global demand for copper used in power and construction. The region is facing surging… Read More Here
Gold price drops to two-year low with Fed rate hike in focus 8 Gold International 

Gold price drops to two-year low with Fed rate hike in focus

admin
Gold prices fell to near the lowest level in more than two years on Tuesday, with investors still weighing the likely size of the US Federal Reserve’s looming interest rate hike that could set the tone for the market. Spot gold declined 0.6% to $1,665.78 per ounce by 11:20 a.m. ET, moving further away from the $1,700 level that it descended from last week. US gold futures were down 0.2% to $1,674.70 per ounce in New York. Gold’s decline comes on the back of hot inflation data that spurred some… Read More Here
Fitch: Copper price to regain March peaks in 2027 9 Copper International 

Fitch: Copper price to regain March peaks in 2027

admin
Copper prices have  been hovering either side of $3.50 a pound ($7,700 tonne) for the better part of two months, down 21% since the start of the year and nowhere near record highs touched in early March. Slowing global growth and a strong dollar, which makes copper more expensive in the rest of the world, have undercut the bull case based on historically low inventories and robust longer term demand fundamental. A new report by Fitch Solutions cuts the research firm’s 2023 price forecasts for next year by double digits to $8,400 down from… Read More Here
Copper price should rebound to USD 8,001 per tonne this week 10 Copper International Mining in DRC 

Copper price should rebound to USD 8,001 per tonne this week

admin
The price of copper should rebound to 8001 USD per ton for the period from August 19 to 24, 2022 on the international market, inform the experts of the National Commission of Mercurials of the Government of the Democratic Republic of Congo (DRC). According to the report of experts, the general trend of the prices of the main mining export products of the Democratic Republic of Congo oscillates between the rise and the fall. Copper is green. It is showing a bullish trend this week and would even trade at USD… 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.