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Iron ore price sinks below $100 a tonne on grim China demand outlook 1 Iron Ore International 

Iron ore price sinks below $100 a tonne on grim China demand outlook

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The iron ore price tumbled below $100 a tonne on Friday on heightened fears over waning demand for steel, as China’s economy faltered in the second quarter and a crisis in its property sector appeared to be worsening. China’s economy contracted by 2.6% in the second quarter from the previous quarter due to covid-19 lockdowns. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $96.04 a tonne, down 4.24% and the lowest since November 2021. The most-traded September iron ore contract on China’s… Read More Here
Gold price set for longest run of weekly losses since 2018 2 Copper International 

Gold price set for longest run of weekly losses since 2018

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Gold is heading for its fifth weekly loss, the longest streak of such declines in almost four years, with haven credentials sidelined by investors becoming super-bullish on the US dollar. Bullion has come under relentless pressure in the past month as investors turn to the greenback in the face of an increasingly hawkish Federal Reserve. That trade got another boost this week from soaring US inflation. “The set-up for a deep liquidation event in gold is building,” Bart Melek, global head of commodity strategy at TD Securities said in an… Read More Here
Copper price rebounds despite weak economic activity in China 3 Copper International 

Copper price rebounds despite weak economic activity in China

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The copper price rose on Friday despite growing concerns that the world economy is headed for recession. Central banks rushed to get on top of galloping inflation, with steep interest rate rises seen this week in Canada, New Zealand, Chile, South Korea, and the Philippines. Fears of an economic downturn were fanned further by Chinese data showing annualized 0.4% growth in the second quarter, the worst since at least 1992, excluding early 2020 when the covid pandemic erupted. Copper, however, rebounded at the end of the week, with the metal… Read More Here
AVZ extends share suspension 4 Battery Metals Lithium Mining in DRC New Mining Projects 

AVZ extends share suspension

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Lithium hopeful AVZ Minerals on Friday extended the voluntary suspension of its share trade on the ASX as it still awaits the grant of a mining licence for its Manono lithium and tin project, in the Democratic Republic of Congo (DRC). AVZ in early May announced that the DRC Minister of Mines had signed a ministerial decree to award the mining licence to Dathcom Mining SA, in which AVZ holds a 75% interest. The mining licence was expected to be issued after the payment of surface  rights fees. However, by May 11, AVZ had requested a suspension of… Read More Here
Gold price nears 11-month low with dollar winning battle of havens 5 Gold International 

Gold price nears 11-month low with dollar winning battle of havens

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Gold plummeted to a near 11-month low on Thursday as investors again turned to the US dollar as the preferred haven amid expectations for more aggressive monetary tightening measures by the Federal Reserve. Spot gold fell 1.7% to $1,706.42 by 12:50 p.m. ET, having been down as much as 2.2% earlier in the session. US gold futures also dropped by 1.7% to $1,705.50 per ounce in New York. Meanwhile, the US dollar soared to a new 20-year high, emerging as a preferred save haven in light of growing economic risks… Read More Here
Barrick On Track After Higher Q2 Output 6 Gold Copper International Mining Companies Mining in Zambia 

Barrick On Track After Higher Q2 Output

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Barrick Gold Corporation today reported preliminary Q2 sales of 1.04 million ounces of gold and 113 million pounds of copper, as well as preliminary Q2 production of 1.04 million ounces of gold and 120 million pounds of copper. As previously guided, Barrick’s gold production in 2022 is expected to increase through the year, and with the stronger Q2 performance, it remains on track to achieve 2022 gold and copper guidance1. The average market price for gold in Q2 was $1,871 per ounce. The average market price for copper in Q2… Read More Here
𝐌𝐎𝐑𝐔𝐏𝐔𝐋𝐄 𝐂𝐎𝐌𝐌𝐈𝐓𝐒 𝐓𝐎 𝐒𝐔𝐏𝐏𝐎𝐑𝐓𝐈𝐍𝐆 𝐁𝐎𝐓𝐒𝐖𝐀𝐍𝐀 𝐂𝐎𝐀𝐋-𝐓𝐎-𝐋𝐈𝐐𝐔𝐈𝐃 𝐀𝐌𝐁𝐈𝐓𝐈𝐎𝐍 7 Coal 

𝐌𝐎𝐑𝐔𝐏𝐔𝐋𝐄 𝐂𝐎𝐌𝐌𝐈𝐓𝐒 𝐓𝐎 𝐒𝐔𝐏𝐏𝐎𝐑𝐓𝐈𝐍𝐆 𝐁𝐎𝐓𝐒𝐖𝐀𝐍𝐀 𝐂𝐎𝐀𝐋-𝐓𝐎-𝐋𝐈𝐐𝐔𝐈𝐃 𝐀𝐌𝐁𝐈𝐓𝐈𝐎𝐍

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Government owned coal mining company Morupule is committed to supporting Botswana ‘s coal to liquid ambition, a multi billion pula project that would see Botswana produce fuel from its abundant coal reserves and unlock thousands of jobs and value chain opportunities along the way. This commitment has been reiterated by Morupule Coal Mine General Manager Mr Edwin Elias in a number of media engagements recently. “There is Coal to gas aswell, this is a high capital intensive project, we are ready as Morupule Coal Mine to ramp up production and… Read More Here
ZAMBIA'S MINES MINISTER WARNS MINES OPERATING WITHOUT LICENCES 8 Mining Companies Mining in Zambia 

ZAMBIA’S MINES MINISTER WARNS MINES OPERATING WITHOUT LICENCES

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Mines and Minerals Development Minister, PAUL KABUSWE says mining firms operating without an Environmental Impact Assessment are operating illegally. Mr. KABUSWE says no mining licence is issued without a valid Environmental Impact Assessment. In a telephone interview with ZANIS, Mr. KABUSWE disclosed that his Ministry will upon completion of the audit come up with a structure that will help curb such practices in the future. Last week Minister of Green Economy and Environment, COLLINS NZOVU ordered the Zambia Environmental Management Agency to take action against mining companies operating without conducting… Read More Here
DRC: the six evils that hinder the development of artisanal mining 9 Artisanal mining Mining in DRC 

DRC: the six evils that hinder the development of artisanal mining

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The development of artisanal mining in the Democratic Republic of Congo (DRC) remains hampered by several ills. These include lack of information; insufficient financial and technical resources; the invasion of concession areas; the presence of foreigners on artisanal mining sites as well as fiscal pressure and environmental problems. This is at least what emerges from the workshop organized by the Ministry of Mines from July 9 to 11, 2022 in Zongo in the province of Kongo Central. During these three days of work, the participants in the workshop on the standardization of artisanal mining… Read More Here
As of July 12, 2022, the price of cobalt has fallen to USD 59,985.00 per tonne 10 Cobalt International 

As of July 12, 2022, the price of cobalt has fallen to USD 59,985.00 per tonne

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The downward trend has continued for cobalt prices on the international market since May 2022. On the London Metal Exchange, a ton of cobalt currently stands at 59,985.00 US dollars. According to specialists in the sector, this downward trend is an indirect consequence of the confinements in China. Driven by the will of the actors involved in the fight against climate change, at the beginning of the year, cobalt prices amounted to around 87,000 US dollars on the international market. Since propelling themselves around a historic high in May 2022,… Read More Here

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