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The barrel of crude oil fell by around 8.7% as of June 23, 2022  1 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 2 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 3 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 4 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
Huayou to explore Zimbabwe lithium plant ‘when conditions are right’ 5 Lithium 

Huayou to explore Zimbabwe lithium plant ‘when conditions are right’

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Huayou Cobalt on Thursday said it could not immediately commit to producing battery-grade lithium in Zimbabwe after the country’s competition authority made that a condition of its takeover of a lithium mine. China’s biggest cobalt refiner acquired the hard-rock Arcadia lithium mine, just outside the capital Harare, for $422 million earlier this year and has announced plans to invest $300 million in its development. But Zimbabwe’s Competition and Tariff Commission said in a June 22 notice that the deal was approved subject to Huayou undertaking to produce battery-grade lithium in Zimbabwe… Read More Here
Copper price heads for biggest quarterly plunge since 2011 6 Copper International 

Copper price heads for biggest quarterly plunge since 2011

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Copper prices are down almost 20% in the second quarter, the biggest quarterly fall since 2011, after covid lockdowns in China and slowing economic growth curtailed demand. Copper for delivery in September fell 2.2% from Wednesday’s settlement, touching $3.70 per pound ($8,140 per tonne) Thursday morning on the Comex market in New York, the lowest since February 2021. Other industrial metals were also headed for their biggest quarterly fall in several years, down between 20% and 40%. “We still see metals falling as a recession in the US is fully… Read More Here
Anglo enters deal to accelerate rollout of nuGen zero emissions haulage solution 7 Equipment & Technology Mining technology 

Anglo enters deal to accelerate rollout of nuGen zero emissions haulage solution

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Diversified miner Anglo American is in exclusive negotiations with specialist engineering technology company First Mode Holding and has agreed nonbinding terms to establish a combined business to accelerate the rollout of Anglo’s nuGen hydrogen-powered Zero Emissions Haulage Solution (ZEHS). The transaction with First Mode, which had partnered with Anglo and other companies to develop the nuGen ZEHS, will include a capital investment by Anglo in the combined business and is intended to accelerate the development and commercialisation of the nuGen ZEHS. The new combined business will retain the First Mode name as an independent business and… Read More Here
Tin records a price drop of around USD 3,073.75 per tonne this week 8 Mining in DRC Tin 

Tin records a price drop of around USD 3,073.75 per tonne this week

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 The general trend of mining products exported from the Democratic Republic of Congo (DRC) on the international market is downward during the period from June 27 to July 2, 2022. This is what the weekly note of the National Commission of Mercurial, a structure attached to the Ministry of Foreign Trade. According to the data provided by this structure, tin is expected to register a drop in price during this week to sell at 33,150.00 USD per ton compared to 36,223.75 USD per ton last week, a difference negative price… Read More Here
Belgium ready to support the project to install a precursor electric battery factory in Haut-Katanga, DRC 9 Battery Metals Mining in DRC 

Belgium ready to support the project to install a precursor electric battery factory in Haut-Katanga, DRC

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The Congolese Minister of Industry, Julien Paluku Kahongya, and the Honorary President of the Federal Parliament of Belgium, current Minister of State, André Flahaut, exchanged, on Monday June 27, 2022, in Kinshasa, on the will of the Kingdom of Belgium through its companies to support the DRC in the installation of a precursor electric battery factory in the province of Haut-Katanga. This desire is indeed manifested in the context of the establishment of Special Economic Zones (SEZs). “My visit to Kinshasa falls within the framework of the extension of all… Read More Here

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