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Gold price wavers after Japan intervention, central banks’ rate hikes 1 International Gold 

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

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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 2 Equipment & Technology International Mining technology 

Fortescue pledges $6.2bn to eliminate emissions by 2030

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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 3 Gemstones Mining in Zambia 

Gemfields auction nets US$32.9 million

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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 4 Copper International 

Europe upstages China as main driver for copper outlook

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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 5 Gold International 

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

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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 6 Copper International 

Fitch: Copper price to regain March peaks in 2027

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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 7 Copper International Mining in DRC 

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

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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
Lithium price smashes new record as supply struggles to feed EV growth 8 Lithium International 

Lithium price smashes new record as supply struggles to feed EV growth

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The surge in prices of lithium, the key battery material used to power electric cars, is seemingly unstoppable. Lithium carbonate hit a fresh record of 500,500 yuan ($71,315) a ton in China Friday, according to data from Asian Metal Inc. Prices more than tripled in the past year, inflating the cost of batteries used in electric vehicles, with recent gains driven by strong demand and disruptions at a domestic producing hub. Consumer support for new-energy vehicles has been gathering pace amid a global transition away from fossil fuels. The China… Read More Here
Next generation Cat 789 mining truck 9 Equipment & Technology Mining technology 

Next generation Cat 789 mining truck

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The latest generation 193 t (nominal rated payload) Cat 789 mining truck the leading OEM says builds on a legacy of proven performance “to offer efficiency gains, the next generation of cab comfort and cutting-edge connectivity.” It adds that the design “offers a weight advantage over the competition to haul more material every load and deliver a cost-per-ton advantage. A proven performer, high uptime reliability reduces overall costs to deliver a better bottom line.” The new 789 moves more material with less fuel, offering up to 9% reduced fuel consumption compared to the Tier 2 design. An advanced powertrain increases engine life by 12% and delivers… Read More Here
Epiroc makes the ‘impossible possible’ with launch of Boltec ABR 10 Mining technology International 

Epiroc makes the ‘impossible possible’ with launch of Boltec ABR

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Epiroc has taken another significant step forward in its rock reinforcement automation journey with the release of the Boltec Auto Bolt Reload (ABR). Combining the company’s ground support nous with its mechanisation and automation knowledge has resulted in a solution able to remove operators from the front end of the bolter – where personnel are most at risk of rock falls from unsupported ground – and increase bolting productivity, especially in poor ground conditions. With mining operations steadily going deeper as they develop existing and newly discovered orebodies, the rock… Read More Here

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