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Copper sinks to 17-month low as slowdown fears mount 1 Copper International 

Copper sinks to 17-month low as slowdown fears mount

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Copper prices dropped to a fresh 17-month low on Monday as renewed lockdowns in top consumer China and the prospects of aggressive rate hikes stoked fears of global economic slowdown, denting demand for metals. Three-month copper on the London Metal Exchange was down 1.4% at $7 938/t, as of 07:17 GMT, after hitting its lowest since early-February 2021 at $7 918 earlier in the session.  The most-traded August copper contract in Shanghai ended daytime trading down 3.1% to 60 660 yuan a tonne. “Softening demand and concerns over a growth slowdown are dragging on the… Read More Here
Sandvik to acquire PCD tools manufacturer Frezite 2 Equipment & Technology International Mining technology 

Sandvik to acquire PCD tools manufacturer Frezite

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Sandvik has signed an agreement to acquire 100% of the equity interests of the Portugal-based company Frezigest, SGPS (“Frezite”). Frezite’s offering primarily consists of made-to-order polycrystalline diamond (PCD) tools for metal and wood applications, with exposure to the automotive, general engineering and aerospace segments. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions. “With the acquisition of Frezite, we take another important step in our shift to growth strategy. We have a clear ambition for our machining solutions business to increase our presence and… Read More Here
Mining opportunities in SADC will favour those in the know 3 Uncategorized 

Mining opportunities in SADC will favour those in the know

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With mining seeing a more sustained improvement in many Southern African Development Community (SADC) countries, miners, and supply partners with experience on the ground are set to have greater gains in the coming year. Miners in the region are not only currently enjoying high commodity prices, but also benefiting from improved supply chains, despite the global disruptions because of the pandemic, and stronger production performances, marking an encouraging first half of the year for the sector. The positive trend is set to continue in the second half. This year’s Investing… Read More Here
Copper tailings reclamation in Zambia: Jubilee Metals’ advantage 4 Copper Mining in Zambia 

Copper tailings reclamation in Zambia: Jubilee Metals’ advantage

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Dual-listed metals recovery business Jubilee Metals Group (Jubilee) has undergone a significant transition over the last two years – extending its metals production from PGM and chrome material in South Africa to include copper in Zambia. Owing to the country’s enormous volumes of copper tailings material, the company has taken up a first mover advantage in establishing a new industry sector, one that financially benefits its shareholders, but of equal importance, all local stakeholders as well, CEO LEON COETZER tells LAURA CORNISH. For anyone that may not be familiar with Jubilee, the company… Read More Here
The IMF warns, the increase in mining revenues will not be enough to offset certain expenses- DRC 5 Uncategorized 

The IMF warns, the increase in mining revenues will not be enough to offset certain expenses- DRC

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The Executive Board of the International Monetary Fund has concluded the 2022 consultations and the review of the Extended Credit Facility for the Democratic Republic of the Congo. All indicative targets were met except for social spending. The IMF points to persistent shortcomings in inter-ministerial coordination.  He also points out other weaknesses and calls for caution. For this year, growth was reduced to 6.1% (against 6.4% previously).  Despite excess liquidity, credit to the private sector remains weak (at 7% of GDP) and the banking sector vulnerable, she said.  The IMF… Read More Here
Drone use rising in mines, with surveying and mapping the most common application 6 Equipment & Technology Mining technology 

Drone use rising in mines, with surveying and mapping the most common application

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The use of drones is increasing across the mining sector, driven by benefits such as improved productivity, safety, and reduced costs, with a wide variety of uses. These include surveying and mapping; monitoring and inspection; site safety management; tailings dam management; blasting assessment and haul road optimisation.  Surveys of mine sites, both surface and underground, over the last four years by GlobalData have shown that the share of mines that have invested to some extent in drones has increased from 44% in 2018 to 65% in 2022, with 32% in… Read More Here
The barrel of crude oil fell by around 8.7% as of June 23, 2022  7 International Oil & Gas 

The barrel of crude oil fell by around 8.7% as of June 23, 2022 

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As of June 23, 2022, the price of Brent crude oil per barrel was set at 109 US dollars on the international market against 115 USD a week earlier. This is what informs the weekly information note of the Central Bank of Congo on the evolution of commodity prices on the international market. According to the Congolese Central Bank, during the period mentioned, oil experienced a price drop of around 8.7%. According to the same source, this price drop was influenced by fears of sluggish growth combined with high inflation.… Read More Here
Copper slumps to 17-month low as recession fears haunt markets 8 Copper International 

Copper slumps to 17-month low as recession fears haunt markets

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Copper prices tumbled to a near 17-month low on Friday and were set for their fourth consecutive weekly decline, as fast-rising interest rates and weak economic data stoked fears of a global recession, which would dent demand for metals. Other industrial metals also fell, with zinc dropping over 6% this week and aluminium heading for its sixth straight weekly fall, down 2.4%. Three-month copper on the London Metal Exchange slipped 2.7% to $8,034 a tonne, as of 0719 GMT, after dropping to its lowest since early February 2021 at $8,021.50 in the session. The metal registered its… Read More Here
World’s Top 10 biggest mining dump trucks 9 Mining technology Equipment & Technology 

World’s Top 10 biggest mining dump trucks

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The biggest rigid dump trucks or haul trucks are off-highway vehicles that are primarily used for the transportation of mined materials and at heavy-duty construction sites, quarries and mines. The dump trucks are constantly being manufactured bigger in size as there is a demand for larger payload capacities. Due to the fact that haul trucks are so large and able to transport a huge amount of material, the customers often prioritise to use only one large dump truck rather than a whole fleet of smaller trucks which is more economical.… Read More Here
Uganda discovers gold deposits worth 12 trillion USD 10 Gold International 

Uganda discovers gold deposits worth 12 trillion USD

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Uganda announced that it had discovered 31 million metric tons of gold waiting to be mined in the country after several surveys were conducted. A spokesperson from the Ministry of Energy and Mineral Development in Uganda, Solomon Muyita, said that these reports are aimed at attracting gold miners and investors in the crypto sector. In a bid to boost the country’s economy, the Ugandan government has licensed Wagagai gold mining company, a Chinese firm to start producing gold products in Busia district. The company embarked on the construction of its… Read More Here

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