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Iron ore price rockets to its peak since January 2014

August 19, 2020August 19, 2020 admin

Iron ore prices hit six-and-half year highs on Tuesday as Chinese furnaces, where more than half the world’s steel is forged, roll out crude steel at a never before seen pace. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $128.57 a tonne on Tuesday, up 5.4% on the day. That was the highest level for the steelmaking raw materials since January 2014 and brings gains for 2020 to nearly 40%. China produced 93.4m tonnes of crude steel in July, the largest monthly… Read More Here

Battery Metals International

EV Metal Index surges 64% as Europe tops China

August 18, 2020August 18, 2020 admin

Europe has now overtaken China – not long ago responsible for every other electric car sold worldwide – as the globe’s largest EV market. Over the first seven months of the year, Europe’s electric vehicle sales (including plug-in hybrids) outpaced that of China reaching the half million mark thanks to record-breaking monthly sales of 53,000 units on the continent in July. More remarkable considering Chinese so-called New Energy Vehicle (NEV) sales data also include fuel cell and commercial vehicles. July was also the first month of annualized positive growth in China with sales… Read More Here

Mining in Zambia Mining technology

Maamba Collieries receives mining equipment

August 18, 2020August 18, 2020 admin

MAAMBA Collieries Limited has received state-of-the-art mining equipment from Wirtgen Group Southern Africa, becoming the first Zambian mining company to own such equipment. The 220 SM 3.8 surface miner is a completely new unit designed from the ground up, replacing its predecessor model, the 2200 SM. With a 3.8 m drum, the machine has been optimised for the mining of soft rock to ensure maximum productivity at minimum operating costs. According to Waylon Kukard, sales manager at Wirtgen Group Southern Africa, the machine is designed to utilise the windrowing method… Read More Here

International

Mining production to end higher than the first half of the year

August 18, 2020August 18, 2020 admin

Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) says mining production and investment across most minerals, except for thermal coal, are likely to finish the year stronger than in the first half of the year as a result of firms being unencumbered by restrictive lockdowns. As economies enter the second half of the year, Fitch Solutions expects both output and investment to fare relatively better than in the first half of the year.ADVERTISEMENT In this regard, Fitch Solutions points out that within… Read More Here

Covid-19 International

Global covid-19 update- cases approach 22 million

August 18, 2020August 18, 2020 admin

Global: Global Covid-19 cases are rapidly approaching 22 million, with more than 21,900,000 infections, according to Johns Hopkins University. There have been more than 774,000 deaths attributed to the virus. The World Health Organization’s regional director for the Western Pacific says younger people – those in their 20s, 30s and 40s – are increasingly driving the coronavirus pandemic. Takeshi Kasai told a virtual briefing that many were unaware they had the disease. US: Los Angeles County said it is continuing to see declines in daily hospitalizations and deaths, adding to signs of… Read More Here

International

Accenture to extend role as IT services provider to Anglo until 2023

August 18, 2020August 18, 2020 admin

Professional services company Accenture and global miner Anglo American have signed an agreement to extend the latter’s role as a ‘strategic information technology (IT) services’ provider to Anglo. Under the agreement, Accenture will provide IT services to Anglo until 2023. According to Accenture, the agreement is an extension of a partnership that started in 2011. It will accelerate Anglo American’s information management (IM) capabilities with ‘new technologies’, as well as ‘delivery practices’, which it claims will drive innovation. The professional services firm was first selected as a key technology services… Read More Here

International Lithium

Lithium-ion cell capacity to Multiply by 2030

August 18, 2020August 18, 2020 admin

A rapid roll-out of battery megafactories across China and Europe will drive a fourfold increase in global lithium-ion cell capacity by 2030 compared to 2019, according to consultancy Wood Mackenzie. Wood Mac said capacity could reach 1.3 terrawatt-hours (TWh) by the end of the decade, pointing to 119 battery factories that are either operational, under construction or have been announced by more than 50 manufacturers. China is set to more than double capacity from 345 gigawatt hours (GWh) to about 800GWh, while a dramatic ramp-up in European capacity means the continent… Read More Here

International Gold

Gold price recovers from worst week since March

August 18, 2020August 18, 2020 admin

Gold rebounded from its worst weekly performance in nearly five months as a weaker dollar and pullback in US treasury yields bolstered investor demand for safe-haven assets. Spot gold advanced 1.7% to $1,980.74 per ounce by 2:45 p.m. EDT on Monday. Gold futures for December delivery jumped 2.1% to $1,991.20 per ounce after briefly crossing the $2,000 an ounce mark earlier in the day. Gold investors also received a boost after a regulatory filing disclosed Berkshire Hathway’s new 20.9 million share investments in Barrick Gold –the world’s second-largest gold miner.… Read More Here

Copper Cobalt Mining in DRC

RCS Global & Responsible Minerals Institute expand Better Mining artisanal mine monitoring program

August 17, 2020August 17, 2020 admin

RCS Global Group and Responsible Minerals Initiative (RMI) have expanded Better Mining’s Artisanal and Small-Scale Mine (ASM) program to include additional cobalt and copper mine sites in Lualaba Province, Democratic Republic of the Congo (DRC) announced. The expansion begins with the immediate addition of a mining site near Likasi, followed by a fifth site currently under evaluation. Better Mining and the RMI plan to scale the program to 12 locations in the Democratic Republic of the Congo by 2023. The agreement marks the next phase in the expansion of the… Read More Here

International Gold

AngloGold CEO sells shares following resignation

August 17, 2020August 18, 2020 admin

AngloGold Ashanti’s outgoing CEO, Kelvin Dushnisky, sells 20,000 shares of the company for $ 572,116 in a transaction dated August 13, 2020. In the same week, AngloGold executives Graham Ehm and Tirelo Sibisi also sold 25,000 and 43,000 shares in the company, respectively. Dushnisky, who was named CEO of AngloGold nearly two years ago, was reportedly forced to resign last month after shareholders requested further investigation into a bonus payment by his former employer, Barrick Gold. Christine Ramon, CFO of AngloGold, will serve as interim CEO from September once Dushnisky’s… Read More Here