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Copper up ahead of possible Chile strike 1 Copper International 

Copper up ahead of possible Chile strike

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Copper prices recovered slightly on Friday on the prospect of a strike in the world’s biggest copper producer Chile and signs of improvement in top buyer China’s economy. Three-month copper on the London Metal Exchange added 0.4% to $9 107/t by 10:15 GMT after slumping by 1.7% on Thursday. It was on track to shed about 3% this week. “There are risk of strikes in Chile, that could be giving copper a bit of a lift today, and the activity data from China this week was a bit better than expected,” said Caroline Bain,… Read More Here
EU Turns to Egypt in the Rush to Replace Russian Gas 2 International Oil & Gas 

EU Turns to Egypt in the Rush to Replace Russian Gas

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The European Commission has proposed a deal to accelerate natural gas imports from Egypt in a bid to reduce its reliance on Russian gas. With Egypt ramping up efforts to become a major liquefied natural gas (LNG) player through increased exploration, production and infrastructure build up and modernization, the north African country is well positioned to expand energy exports to Europe while addressing African energy demand. Egypt’s Emerging Gas Economy Owing to its strategic location in close proximity to European markets as well as its success as a gas exporter,… Read More Here
DRC: the process of refining Congolese gold by Rwanda suspended 3 Mining in DRC Gold Mineral Processing 

DRC: the process of refining Congolese gold by Rwanda suspended

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Felix Tshisekedi convened the Superior Defense Council on Wednesday. It was decided that the government suspend all memorandums of understanding, agreements, conventions concluded with Rwanda accused of attacking the DRC and providing support to the M23. What are these agreements? The government promises to communicate quickly on this file. Officially, since Felix Tshisekedi came to power, a series of agreements have been signed between Kinshasa and Kigali.  June 26, 2021 in Goma, the red carpet is rolled out. The ceremony is grand. It is broadcast live on Rwandan public television and that of the DRC. The agreement… Read More Here
The price of copper falls to 8.888 US per ton, the lowest level for 10 months 4 Copper International 

The price of copper falls to 8.888 US per ton, the lowest level for 10 months

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The price of copper fell to a 10-month low on Thursday as demand prospects deteriorated after a sharp rate hike by the U.S. Federal Reserve fueled recession concerns and data from China reported weak growth. Copper for July delivery hit a low of $4.04 a pound ($8,888 a tonne) Thursday morning on the New York Comex market, the lowest since August of last year. Mining stocks also fell, with BHP Group down more than 5% from the previous week and Freeport-McMoRan down 4%. “Demand for metals is at risk as… Read More Here
At the end of January 2022, copper production in DRC stood at 121,955 tonnes 5 Copper Mining in DRC 

At the end of January 2022, copper production in DRC stood at 121,955 tonnes

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The Democratic Republic of Congo (DRC), through its mining industry, achieved a production of 121,955 tons of copper in January 2022, according to data published by the Central Bank contained in its digest of statistical information of January 13 2022. The same data indicates that as of January 2021, copper production stood at 130,508 tonnes. Comparing the two periods, there is a drop of around 8,553 tons, reports the Central Bank of Congo. During the period considered, the company Gécamines produced only 191 tons of copper against 121,764 tons produced… Read More Here
Metso Outotec invests $2.3 million to level unexplained gender-related pay gaps 6 Equipment & Technology International Mining technology 

Metso Outotec invests $2.3 million to level unexplained gender-related pay gaps

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Metso Outotec, a Finland-based industrial machinery company providing technology and services for mining, aggregates, and oil and gas, announced it has invested in developing a workplace where diversity and inclusion are fostered, promoted, and embedded in the company culture.  This year the company implemented a global fair pay analysis to review pay practices in all the 50+ countries in which it operates. The analysis confirmed that the existing policies and practices in Metso Outotec provide a solid foundation, and typically the salary of an employee develops in an unbiased manner… Read More Here
Liebherr launches green fleet plan with Fortescue, WAE 7 Equipment & Technology International Mining technology 

Liebherr launches green fleet plan with Fortescue, WAE

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German-Swiss equipment maker Liebherr Mining plans to create a battery-powered truck fleet in partnership with Australia’s Fortescue Metals Group, with the UK’s Williams Advanced Engineering helping provide green drive technology. An agreement signed today in Colmar, France at Liebherr Mining’s plant headquarters, will see Fortescue acquire 120 Liebherr haul trucks for its mining operations. The first of the zero emission-haul units will be fully operational within Fortescue’s mine sites by 2025. Liebherr will supply the trucks, while Fortescue Future Industries (FFI) will work with WAE – which Fortescue acquired in… Read More Here
Komatsu acquires Mine Site Technologies 8 Equipment & Technology Mining technology 

Komatsu acquires Mine Site Technologies

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Komatsu, through its wholly owned subsidiary in Australia, has agreed to acquire Mine Site Technologies (MST), a provider of operational optimization platforms for underground mining that leverage communication devices and position tracking systems. “Empowering its customers growing use of digitalization and automation to improve safety and productivity, Komatsu plans to work with MST Global to help customers build digital ecosystems with real-time insights and alerts, voice and communication technologies, software solutions, robust network infrastructure and wireless and geospatial technologies,” the equipment supplier said in a release. With a global customer base,… Read More Here
Barrick Gold Corporation announces the sale of 5,382,587 shares of Perpetua Resources Corp 9 International Mining Companies 

Barrick Gold Corporation announces the sale of 5,382,587 shares of Perpetua Resources Corp

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Mining company Barrick Gold Corporation (“Barrick”) announced on June 15, 2022, the sale of 5,382,587 common shares (“Shares”) of Perpetua Resources Corp. (“Perpetua Resources”) through Nasdaq, Cboe, Direct Edge and NYSE-ARCA (the “Provision”). According to the source, the disposition generated gross cash proceeds of an aggregate amount of C$21,729,504 (C$4.04 per common share). It should be noted that immediately prior to the disposition, Barrick beneficially owned, or controlled and directed, 5,382,587 shares, representing approximately 8.5% of the issued and outstanding shares. Following the disposition, Barrick no longer beneficially owns, controls or… Read More Here
DRC-Mines: the company NRGI ready to support the Government in the context of the energy transition 10 Mining in DRC Green Energy 

DRC-Mines: the company NRGI ready to support the Government in the context of the energy transition

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The Deputy Minister of Mines, Godard Motemona, met, on Monday June 13, 2022, with the delegation of the company “Natural resource governance institute” (NRGI), on questions related to the energy transition as well as the production electric batteries in the Democratic Republic of Congo (DRC). The Manager of NRGI and head of the delegation, Mr. Hervé Lado, informed Vice-Minister Godard Motemona that his company contributes to improving the governance of countries based on their natural resources, in particular oil, gas and minerals, with the aim of promoting sustainable and inclusive… Read More Here

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