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Copper Outlook Threatened by Various Economic Risks: Experts 1 Copper International 

Copper Outlook Threatened by Various Economic Risks: Experts

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Copper is beset by various risks that threaten to undermine the prospects of the key metal needed to wean the world off fossil fuels, according to CRU Group’s Vanessa Davidson. Threats include “the possibility of a decline in GDP or industrial production triggered by geopolitical risks, high inflation becoming more entrenched in the economy, or the effects of Covid-19 lasting longer than expected,” it said. CRU’s director of copper research and strategy said Monday at a mining conference in Toronto. Other near-term risks include slower-than-expected adoption of green technologies, greater availability… Read More Here
Copper price slips as China demand woes resurface 2 Copper International 

Copper price slips as China demand woes resurface

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The copper price fell on Monday, as a stronger US dollar and renewed worries over demand due to partial lockdowns in China weighed on sentiment. Copper for delivery in July fell 2.7% from Friday’s settlement, touching $4.17 per pound ($9,188 per tonne) Monday morning on the Comex market in New York. The most-traded July copper contract in Shanghai fell 0.5% at 72,490 yuan ($10,831.53) a tonne. Beijing raced to contain a “ferocious” outbreak, with millions facing mandatory testing and thousands under targeted lockdowns, after the capital city recently relaxed curbs.… Read More Here
China Moly denies Congo administrator takes over its Tenke copper-cobalt mine 3 Cobalt Copper Mining in DRC 

China Moly denies Congo administrator takes over its Tenke copper-cobalt mine

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There has been no change in control of Tenke Fungurume Mining, majority owner China Molybdenum said on Friday, contradicting a state mining company official who said a temporary administrator had taken control of the world’s second-largest cobalt producer. The secretary-general of Congo’s state mining company Gecamines told Reuters on Thursday that a court-appointed temporary administrator had officially taken charge amid a dispute between TFM shareholders. China Moly controls an 80% stake in the copper and cobalt mine, while Gecamines owns 20%. “There is no change in the management right of… Read More Here
ASSISTANT MANAGER | MINING CAREERS AT KAGEM MINING LIMITED, LUSAKA ZAMBIA 4 Mining Careers Mining in Zambia 

ASSISTANT MANAGER | MINING CAREERS AT KAGEM MINING LIMITED, LUSAKA ZAMBIA

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Location: Lusaka, Zambia | Report: Senior Manager MIS Kagem is seeking remarkable candidate to join the team, in the position of Assistant Manager MS.Job Purpose: The Assistant Manager MIS key role will be to analyze the operating performance to identify gaps for improvement, driving testing and implementation of improvement ideas, assists with operations data management/ reporting, and conducts training of MIS team. The analytical expertise in understanding key patterns and trends, combined with the love of solving complex problems, is a must requirement for one to succeed in in this roles. Read More Here
Tharisa + Liebherr: New partnership to reduce carbon emissions 5 Equipment & Technology Mining technology 

Tharisa + Liebherr: New partnership to reduce carbon emissions

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Tharisa, the PGM and chrome co-producer listed on the JSE and LSE, has received on site and already begun operational testing of three Liebherr mining machines with more efficient engines and fuel systems. The partnership is part of Tharisa’s ESG initiative to reduce its carbon footprint. The two T 236 mining trucks with a capacity of 100 metric tonnes and one 72 t PR 776 dozer, both of which use the latest generation diesel engine technology with the T 236s using Cummins QST 30 engines and the PR 776 utilising… Read More Here
Kagem renews UNZA partnership with USD172,500 scholarship programme 6 Mining in Zambia Corporate social responsibility 

Kagem renews UNZA partnership with USD172,500 scholarship programme

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Kagem Mining Ltd has committed USD172,500 worth of funding for scholarships for University of Zambia (UNZA) mining and geology students following its renewal of a memorandum of understanding (MoU) with the university. The MoU intends to enhance the emerald mine’s commitment to collaborating with educational institutions on matters related to training, research, and human resource development in the mining sector. Present at the MoU signing ceremony was UNZA Acting Vice Chancellor Prof. Anne Sikwibele, who hailed the gesture saying it demonstrated Kagem’s dedication to facilitating local participation in the mining… Read More Here
Gold’s haven appeal burnished by drumbeat of growth warnings 7 Gold International 

Gold’s haven appeal burnished by drumbeat of growth warnings

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Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2 000/oz. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers interviewed ahead of a precious metals conference in Singapore this week. Bullion is down about 10% from a peak in mid-March, after the concerns that Russia’s invasion of Ukraine might sprawl into a broader conflict dissipated. But with top banking executives now warning… Read More Here
Copper price slips after new China lockdowns 8 Copper International 

Copper price slips after new China lockdowns

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The copper price slipped on Thursday after parts of Shanghai began imposing new covid lockdown restrictions. Entertainment venues and internet cafes in Beijing’s largest district of Chaoyang, home to more than 3 million people, were ordered to be shut on Thursday after an outbreak involving bars was detected. Copper for delivery in July fell 1.8% from Wednesday’s settlement, touching $4.374 per pound ($9,623 per tonne) at lunchtime Thursday on the Comex market in New York. Offering some relief, data on Thursday showed China’s exports grew at a double-digit pace in… Read More Here
Uganda says exploration results show it has 31 million tonnes of gold ore 9 Gold 

Uganda says exploration results show it has 31 million tonnes of gold ore

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Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners. Over the last two years, aerial exploration was done across the country followed by geophysical and geochemical surveys and analyses, Solomon Muyita, spokesperson for the Ministry of Energy and Mineral Development, told Reuters. Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore. Most of… Read More Here
Congo’s Oil Block Sale Threatens Carbon Sinks, Forest Pact 10 Mining in DRC Oil & Gas 

Congo’s Oil Block Sale Threatens Carbon Sinks, Forest Pact

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The Democratic Republic of Congo’s plan to auction oil exploration blocks next month threatens to disrupt some of the world’s most important carbon sinks and could jeopardize a $500 million forest preservation agreement. Some of the blocks, estimated to contain 16 billion barrels of crude reserves, overlap with the biggest tropical peatlands that cover 145,000 square kilometers (56,000 square miles) and store about 30 billion tons of carbon — equivalent to about 82% of annual global carbon dioxide emissions. So-called carbon sinks help mitigate greenhouse-gas emissions from burning fossil fuels and… Read More Here

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