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Copper price drop hammers mining stocks 1 Copper 

Copper price drop hammers mining stocks

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Copper prices fell sharply on Wednesday with anxiety over a “third wave” of variant covid-19 spreading across the globe and a stronger US dollar pushing down the bellwether metal, often seen as barometer of the economy. On the Comex market, copper for delivery in March fell as much as 2.7% to $3.5205 a pound ($7,760 a tonne) in New York, wiping all its gains so far this year amid heavy volumes. The metal dipped below $2.00 a pound at the height of the pandemic in March, but then powered back… Read More Here
Increasing supply from China to cap aluminum price – report 2 Aluminium 

Increasing supply from China to cap aluminum price – report

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Expect to see a broader recovery in global aluminum demand alongside a forecast rebound in global economic growth, market analyst Fitch Solutions says in its latest industry report. An increase in global supply driven by a rise in Chinese exports, Fitch says, will limit the scope of the reduction in the production balance. Fitch maintains its 2021 aluminum price forecast of $1,850/tonne, up from $1,731/tonne in 2020 during the covid-19 pandemic. The analyst expects to see increasing supply from China in the global market, which will cap the rise in prices. Fitch expects to see a… Read More Here
Scientists develop anode-less zinc battery to store renewable energy 3 Battery Metals Zinc 

Scientists develop anode-less zinc battery to store renewable energy

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Researchers at Stanford University and King Abdullah University of Science and Technology have developed a prototype anode-less zinc-based battery that uses naturally abundant materials at low cost. In a study published in the journal Nano Letters, scientists Yunpei Zhu, Yi Cui and Husam Alshareef say they took inspiration from previous explorations of “anode-less” lithium and sodium-metal batteries and decided to make a battery. in which a rich cathode is the only source of zinc plating on a copper current collector. Their main objective was to solve a big problem related… Read More Here
Miners using new ESG and transparency framework 4 Uncategorized 

Miners using new ESG and transparency framework

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Mining Shared Value (MSV), a non-profit initiative of Engineers Without Borders announced that four mining companies have now adopted the Mining Local Procurement Reporting Mechanism (LPRM), with two more set to confirm shortly. Ivanhoe Mines became the first company to use the international transparency standard in 2019, and Lundin Gold, Golden Star Resources and Teranga Gold have now come out with their sustainability reports using the framework. The LPRM is a publicly available information sharing framework that was created by MSV in partnership with the German development agency GIZ, to… Read More Here
How some foreign operators exploit weak protections in Africa’s extractive sectors 5 Uncategorized 

How some foreign operators exploit weak protections in Africa’s extractive sectors

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Former US president Donald Trump’s last minute controversial removal of sanctions against an Israeli businessman named in corruption scandals in DR Congo’s mining industry and the jailing of another international commodity broker for bribery in a Guinea iron ore scandal this month shows just how vulnerable Africa’s lucrative resources sector has long been to international operators. For too long Africa’s mineral wealth has failed to uplift the majority of ordinary citizens out of poverty.  Resource-rich countries including Zimbabwe (gold, platinum, diamonds) , Sierra Leone (diamonds), DRC (copper, cobalt, gold, diamonds),… Read More Here
Sandvik Mining closing Jiading site; shifting production focus to Jiangsu 6 Mining Companies 

Sandvik Mining closing Jiading site; shifting production focus to Jiangsu

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Back in late 2009, with some fanfare, Sandvik Mining & Rock Solutions opened one of its largest ever global mining equipment production and assembly sites in the Jiading Industrial Zone, just outside Shanghai, China – a site capable of producing almost the full underground and surface mining product line for both the Chinese but also the global market. New machines were also designed there, such as the DH350 compact drill rig, which was fully developed and manufactured at Sandvik’s Jiading R&D centre. The carrier for the DD2710 jumbo was also… Read More Here
Epiroc reports a 'resilient' Q4 7 Equipment & Technology 

Epiroc reports a ‘resilient’ Q4

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Swedish mining equipment company Epiroc has said demand for automation, digitalisation and electrification solutions remained high in 2020 amid “significant” impacts on other sectors due to the COVID-19 pandemic. Operating profit in the fourth quarter of 2020 rose to SK2.21 billion (US$265.89 million) from 2.02 billion in the same period a year earlier, stated the company in an interim report. The value of orders received increased 1% to SK9.3 billion, an increase of 13%. “The COVID-19 pandemic affected us significantly in 2020, yet we managed to adapt our way of… Read More Here
Gold price dips ahead of US policy decision 8 Gold International 

Gold price dips ahead of US policy decision

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Gold prices eased on Tuesday as a slightly firmer dollar and uncertainty over a US stimulus package kept bullion in check, with investors awaiting cues on future monetary policy decisions from the US Federal Reserve. Spot gold fell slightly by 0.1% to $1,853.21 an ounce as of 11:30 a.m. EST but held above the $1,850 an ounce level. US gold futures also dipped 0.1% to $1,852.80 per ounce. ″(Gold) is waiting for the Fed, it is waiting for a solid thing to emerge and as long as we continue to… Read More Here
Iron ore price in full retreat as Chinese steel starts to pile up 9 Iron Ore 

Iron ore price in full retreat as Chinese steel starts to pile up

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Iron ore prices fell back on Tuesday after data showed five straight weeks of lower production by Chinese steel mills, which forge more crude steel than the rest of the world combined. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $165.07 a tonne, down 2.4% for its third day of losses in a row.  The steelmaking raw material hit its highest level since September 2011 earlier in January. Reuters reports capacity utilisation rates at 163 blast furnaces across China fell for… Read More Here
World’s copper mines struggling with covid-19 10 Copper International 

World’s copper mines struggling with covid-19

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(The opinions expressed here are those of the author, Andy Home, a columnist for Reuters) The deadly coronavirus has taken a heavy toll on the world’s copper mines. Output in key producer countries such as Peru cratered over the second quarter of 2020 as lockdowns and quarantine measures caused many mines drastically to reduce operations. Recovery has been patchy. Peruvian mines had just about returned to normal run-rates by October, but output in Chile, the world’s largest copper producer, started sliding in the third quarter after a robust first half of the… Read More Here

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