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

June 17, 2022June 17, 2022 admin

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

Copper Mining in DRC

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

June 16, 2022June 16, 2022 admin

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

Equipment & Technology International Mining technology

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

June 16, 2022June 16, 2022 admin

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

Equipment & Technology International Mining technology

Liebherr launches green fleet plan with Fortescue, WAE

June 16, 2022June 16, 2022 admin

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

Equipment & Technology Mining technology

Komatsu acquires Mine Site Technologies

June 16, 2022June 16, 2022 admin

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

International Mining Companies

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

June 16, 2022June 16, 2022 admin

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

Mining in DRC Green Energy

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

June 16, 2022June 16, 2022 admin

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

Artisanal mining Mining in DRC

Invasion of artisanal miners in the KCC site: Godard Motemona reassures prompt return of peace

June 16, 2022June 16, 2022 admin

The Deputy Minister of Mines, Godard Motemona met, on Tuesday, June 14, with the caucus of deputies of Lualaba on the issue related to the invasion by artisanal miners from this province to the facilities of the mining company Kamoto Copper Company KCC. Evicted from their mining area in Lualaba, the artisanal miners invaded the site of the KCC mining company. The deputies of Lualaba met the Deputy Minister of Mines, Godard Motemona with a view to demanding the involvement of the government in order to restore calm between the two… Read More Here

Cobalt International

The erosion of cobalt prices continues, the ton is trading at 72,000.00 USD as of June 15, 2022

June 15, 2022June 15, 2022 admin

The drop in cobalt prices that began in May 2022 continues until mid-June of the year on the international metals market. According to the indications of the London Metal Exchange, the ton of cobalt is trading at 72,000.00 USD as of June 15, 2022. According to industry experts, the fall in cobalt prices is the indirect consequence of the confinements in China. As of June 10, standard-grade cobalt prices, like alloy-grade cobalt prices, ranged between USD 35.80 and USD 36.50 per kilogram. Since surging around USD 40 per kilogram in… Read More Here

Copper International

copper falls to 9,262.60 per tonne as of June 15, 2022

June 15, 2022June 15, 2022 admin

The outlook for copper prices on the international market is still not favorable despite the lifting of the barrier measures against the coronavirus in China and this situation is expected to continue in 2023 and 2024. As of June 15, 2022, a tonne of copper is sold at USD 9,262.60 on the international market, particularly on the London Stock Exchange. And this, while exactly a week ago this metal was sold at 9,711.85 USD on the London Metal Exchange (LME). Copper is beset by various risks that threaten to undermine the… Read More Here