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AngloGold Ashanti continues being a self-funding entity

February 22, 2021February 22, 2021 admin

AngloGold Ashanti reported a fivefold increase in its full-year dividend payment and added 6 Moz of new Ore Reserve, on a gross basis, as it chartered a return to growth in the coming years. “After several years of rationalising our portfolio, we have a clear and credible path to disciplined, high-return growth,” Interim Chief Executive Officer Christine Ramon said. “We’ve built a solid balance sheet, which allows us to continue self-funding our capital investment, while rewarding shareholders.” The Company aims to grow annual production from last year’s 3.05 million ounces… Read More Here

Mining Companies Mining in Zambia

Vedanta warns off KCM asset pickers as Zambia’s provisional liquidator proceeds with split

February 22, 2021February 22, 2021 admin

VEDANTA Resources has warned potential buyers of assets held in its 85%-owned Konkola Copper Mines (KCM) that any corporate activity would be “deemed inappropriate”, and that it would seek to protect its interests in Zambia and internationally. The Indian firm’s comments come as the provisional liquidator, appointed by the Zambian government, progresses a plan to split the assets – consisting of mining and processing facilities – ahead of selling them to third parties. The Zambian government has, through its ZCCM-Investments Holdings (ZCCM-IH) company, forbidden Vedanta access to KCM’s assets arguing that… Read More Here

Copper International

Copper surges above $9 000 as major deficit drives record rally

February 22, 2021 admin

Copper rallied above $9 000 a ton for the first time in more than nine years on bets that increased demand driven by the recovery from the pandemic will spur a historic deficit, putting the economic bellwether on course for a record run of monthly gains. Prices climbed more than 3% on Monday and are heading for an unprecedented eleventh monthly rise in February. Base metals are on tear on expectations that post-crisis consumption will outstrip near-term supply, with raw materials like copper and nickel getting an additional boost from… Read More Here

Copper International

Copper price keeps soaring as bullish sentiment prevails

February 20, 2021February 20, 2021 admin

Copper prices continued to soar on Friday, surpassing the nine-year peak seen during the previous session, as bullish sentiment towards base metals resumed after the Chinese New Year. Copper March futures jumped to as high as $4.0910 a pound ($9,019.16 a tonne) in New York, its highest since September 2011. The industrial metal is on its way for a third straight weekly gain, having gone up by nearly 15% year-to-date and 7.3% over the past week alone. While copper’s ascent may be an indicator of higher demand, some market analysts believe it… Read More Here

Mining technology

CAT® 3512E TIER 4 DYNAMIC GAS BLENDING (DGB)™ ENGINE WINS U.S. EPA AWARD

February 20, 2021February 20, 2021 admin

At Caterpillar, we take pride in what we do and what we make possible – from the quality of our products and services to the people who stand behind them. But what matters to us most is how we help customers build a better world. The Cat® 3512E engine system is a powerful example of that commitment. The 3512E with DGB is the first and only Dynamic Gas Blending (DGB) engine in the industry certified to U.S. EPA Tier 4 Final emission standards. And, it’s a recent recipient of the U.S. Environmental Protection Agency’s (EPA) 2020 Clean Air Excellence Award in the Clean Air Technology category. WHAT… Read More Here

Mining Personality

Departing Glencore chief reinstates $1.6bn dividend despite $1.9bn loss

February 20, 2021February 20, 2021 admin

Mining veteran Ivan Glasenberg delivered his final financial results as chief executive of Glencore by reinstating a dividend of $1.6bn (£1.15bn) for shareholders, despite reporting a net loss of $1.9bn for last year. Glasenberg will step down after 20 years as boss of the mining firm this June after a difficult 2020 in which Glencore was forced to scrap its $2.1bn dividend in August and write down the value of its assets by $5.9bn. He is now to reinstate the dividend after a strong rise in commodity prices in the second half of 2020,… Read More Here

Uncategorized

Exciting year ahead for Weir Minerals in Africa and Middle East

February 19, 2021February 19, 2021 admin

Weir Minerals Africa is focused on partnering with customers to drive efficiencies using its proven technology-driven solutions. According to Grant Ramsden, Regional MD of Weir Minerals Africa and Middle East, the company’s successful evolution over a century and a half continues with a strong sustainability vision for the modern mining, minerals processing and the sand and aggregate industries. “As our mining sector customers look to reduce their carbon footprint, we are engineering solutions for a future that prioritises energy efficiency and raises productivity,” says Ramsden, who stepped into his… Read More Here

Mining technology

Leading technology solutions – a new generation of mechanisation

February 19, 2021February 19, 2021 admin

Fermel is a 54-year original equipment manufacturer, specialising in the development of intellectual property which is converted into mechanised solutions for underground mining operations. Although the company’s roots are proudly South African, Fermel benchmarks itself against a global context where its core business is entrenched in the development of sustainable and relevant technology. The journey of NEWGEN technology started more than a decade ago through the development of programme architecture to create intelligent machines via CANBUS communication. Based on its engineering and mining industry experience, Fermel believes that the migration… Read More Here

Mining technology

Drilling automation holds promise for Africa’s quarries

February 19, 2021February 19, 2021 admin

Globally, the quarrying sector is embracing a trend in the automation of surface drill rigs; operations in sub-Saharan Africa are not expected to be left behind. Vanessa Hardy, business line manager surface drills at Sandvik Mining and Rock Solutions, says she looks forward to growing interest especially in Southern Africa, with many quarry customers already owning Sandvik drill rigs which are automation-ready. “The move towards autonomous drilling will be increasingly difficult to resist, especially as more users see the benefits in terms of productivity and cost-saving,” says Hardy. She highlights… Read More Here

Mining technology

De Beers rolls out driver assistance technology

February 19, 2021February 19, 2021 admin

Pioneering the use of advanced driver assistance systems (ADAS) in the mining sector, De Beers Group is successfully rolling out this safety innovation across its operations in southern African. The world’s leading diamond producer places Putting Safety First Everywhere as its number one value and has been fatality-free for the past two years, according to Dr Urishanie Govender, De Beers Group Head of Safety and Sustainable Development. “The application of ADAS aligns with our culture of pioneering brilliance as we equip our operations for Future Smart Mining,” says Dr Govender.… Read More Here