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Glencore’s oil-price rigging puts spotlight back on benchmarks 1 Oil & Gas International 

Glencore’s oil-price rigging puts spotlight back on benchmarks

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Glencore’s settlement with US prosecutors has cast fresh light on manipulation of an under-the-radar part of the commodities world that’s crucial for valuing physical deals and derivatives. The raw-materials giant this week agreed to plead guilty to rigging fuel-oil assessment prices after probes into wide-ranging bribery and corruption. The process for setting the benchmarks involves price reporters polling traders in the market for bids, offers and transactions so that they can publish values on products that otherwise would remain private information. It’s a hugely important part of the industry. Billions… Read More Here
Improving Efficiency Underground: Seven Top Areas to Evaluate 2 Mining technology 

Improving Efficiency Underground: Seven Top Areas to Evaluate

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Underground hard rock mines present some of the most challenging conditions for mining operations. Despite these challenges, underground miners are always on the lookout for ways to improve loading and haulage performance to lower cost per ton. There are seven top areas to evaluate when looking to improve underground hard rock operations: Machine / system sizing and selection. Is the loader matched to the truck? Is the LHD the right size for the job? Material density for body and bucket selection. If material is heavy and hard to get through, a smaller… Read More Here
Billionaire’s Seized Mines Pose Quandary for New Zambian Leader 3 Mining in Zambia Mining Companies 

Billionaire’s Seized Mines Pose Quandary for New Zambian Leader

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Zambia’s new business-friendly president faces a dilemma: risk a political backlash by returning mining shafts seized from an Indian company his mines minister once labeled as the nation’s worst-ever investor, or prolong a three-year legal dispute over one of its most important assets. Hakainde Hichilema, who won power in August, has yet to say what he’ll do to revive Konkola Copper Mines Plc — key to realizing his ambition of more than doubling national output of the metal within five years and rebooting the debt-stricken economy.  Predecessor Edgar Lungu stripped majority shareholder Vedanta Resources Ltd. of the… Read More Here
Glencore says its bribery days are over. Now it has to prove it 4 International Mining Companies 

Glencore says its bribery days are over. Now it has to prove it

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Glencore has closed the “cash desks” in London and Switzerland that once dispensed money for bribes. Employees implicated in sweeping, cross-border corruption investigations are gone. New safeguards are in place, and boss Gary Nagle says it’s a “different company.” Now he will have to prove it. Glencore this week agreed to plead guilty to a web of bribery and price manipulation charges that stretch from Venezuela to Nigeria and Los Angeles in deals with the US, UK and Brazil. The penalties will total about $1.5-billion but there’s a longer-lasting requirement — the deal with… Read More Here
Copper extends losses on fears of a global recession 5 Copper International 

Copper extends losses on fears of a global recession

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Copper prices fell for a third day in a row on Thursday and tin slumped to a one-week low as a gloomy economic outlook for top metals consumer China fanned concerns about a global recession, though a soft US dollar lent some support. Three-month copper on the London Metal Exchange was down 0.3% at $9 343/t as of 07:24 GMT. The most-traded July contract on the Shanghai Futures Exchange ended daytime trading 0.5% lower at 71 080 yuan ($10 562) a tonne. Copper is often used as a gauge of global economic health. Prices… Read More Here
DRILLING, OPERATOR | MINING CAREERS AT Sino-Congolaise d’Exploitation SA (SICODEX, SA), DRC  6 Mining in DRC Mining Careers 

DRILLING, OPERATOR | MINING CAREERS AT Sino-Congolaise d’Exploitation SA (SICODEX, SA), DRC 

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Job PurposeWe currently have full-time position based Kolwezi DR Congo. Company profile: SICODEX, cooperating with AFRIDEX, has been engaged in the production and sale of explosives in the DRC since 2016. It is committed to providing integrated Drilling and Blasting services for mining companies. SICODEX has exclusive licenses to produce, sell, import and export all explosives, accessories and other related products.Technical Competencies:• Experience in operation of atlas/epiroc rig D45/D50/D55/D60, or the relevant rig type.• Experience with the maintenance and repair of rigs.• Small vehicle Driver’s Licence• Ability to establish and… Read More Here
Gold price falls 1% as dollar rebounds ahead of Fed minutes 7 Gold International 

Gold price falls 1% as dollar rebounds ahead of Fed minutes

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Gold prices fell 1% on Wednesday as the precious metal was weighed by a rebound in the dollar ahead of the release of US central bank’s minutes from its May meeting. Spot gold dropped to $1,847.55 per ounce by 1:40 p.m. ET, on its way to snapping a five-session winning streak. US gold futures traded at $1,846.50 per ounce in New York. Meanwhile, the US dollar gained 0.4%, after hitting its lowest level in a month on Tuesday, making gold more expensive for overseas buyers. “The market is fixated on… Read More Here
Metso Outotec, Malvern work on ore sorting 8 Equipment & Technology Mining technology 

Metso Outotec, Malvern work on ore sorting

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Finnish company Metso Outotec and UK-based Malvern Panalytical have signed a deal to collaborate in the provision of sensor-based ore sorting products. Both companies have expertise in crushing and bulk material handling. The collaboration will result in “substantially” improved head grade through preconcentration, Metso Outotec said. “Collaboration with partners like Malvern Panalytical will allow us to meet the industry’s increasing sustainability and resource efficiency needs in an enhanced way in the early communition stage,” Metso Outotec VP of Digital Technologies Rashmi Kasat said. “Sensor-based bulk ore sorting and data-driven analysis… Read More Here
Sandvik offers up enhanced three-deck Doublescreen solution 9 Equipment & Technology Mining technology 

Sandvik offers up enhanced three-deck Doublescreen solution

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Sandvik Mobile Crushers and Screens, part of Sandvik Rock Processing Solutions, has announced what it says is a new first-of-its-kind, three-deck tracked mobile plant with independent screen angle adjustment and hydraulic screen separation in the form of its QA452. The latest evolution of the Sandvik QA Series products and three-deck Doublescreen technology, the QA452 features two triple deck inline screen boxes with equal size screen decks, each providing 9 cu.m of screening area Sandvik Doublescreen technology typically outperforms traditional screens by up to 30%, offering a tailored rock processing solution… Read More Here
Mopani plans to resume cobalt production as prices rise 10 Cobalt Mining in Zambia 

Mopani plans to resume cobalt production as prices rise

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Zambia’s Mopani Copper Mines (MCM) plans to resume cobalt production that was halted more than a decade ago after international prices collapsed, an executive at state-owned ZCCM-IH said on Tuesday. Accelerating sales of electric vehicles have fuelled a scramble for nickel, cobalt and lithium, propelling prices of the battery materials to multi-year highs. Brian Musonda, chief investment officer at ZCCM-IH, Zambia’s mining investment arm, said the rising prices were a strong economic reason to restart cobalt processing. “Going into next year, Mopani will start to process concentrates for cobalt and… Read More Here

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