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Glencore says its bribery days are over. Now it has to prove it 1 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 2 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  3 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 4 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 5 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 6 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 7 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
Copper price dips as investors fear economic slowdown 8 Copper International 

Copper price dips as investors fear economic slowdown

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The copper price fell on Tuesday, pressured by fears of slowing global economic growth. Copper for delivery in July fell 0.75% from Monday’s settlement price, touching $4.31 per pound ($9,488 per tonne) midday Tuesday on the Comex market in New York. “Central banks are maintaining their hawkish stance to try to kill inflation, and killing inflation will also kill the economy,” said WisdomTree analyst Nitesh Shah, predicting further price pressure in the coming months. However, he agreed with many other analysts who say the long-term outlook for copper remains strong… Read More Here
As of May 25, 2022, a tonne of cobalt is trading at USD 74,645.00 on the international market 9 Copper Cobalt Zinc 

As of May 25, 2022, a tonne of cobalt is trading at USD 74,645.00 on the international market

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The cobalt market has not registered any significant advances for nearly a week in the international market. To date, a tonne of cobalt is trading at 74,645.00 USD on the London Stock Exchange against 74,670.00 USD for the week, representing a slight drop in price of around 25 USD. Two weeks ago, a ton of cobalt was sold at 81,485.00 USD on the international metal market. As one of the producing and exporting countries of this raw material, the Democratic Republic of Congo (DRC) keeps an eye on the development… Read More Here
Glencore agrees to pay more than 1.2 billion USD in the United States to settle its corruption cases 10 Mining in DRC Mining Companies 

Glencore agrees to pay more than 1.2 billion USD in the United States to settle its corruption cases

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Mining and commodities trader Glencore has settled investigations into corruption and market manipulation in the UK and US that have dogged the company for years. In February, Glencore announced it had set aside $1.5 billion to cover settlement costs in the US, UK and Brazil, and the company confirmed it would appear in court. in the United States on Tuesday under “proposed resolutions” to investigate his activities. Later in the day, the UK’s Serious Fraud Office (SFO) charged Glencore with seven counts of corruption in Cameroon, Equatorial Guinea, Ivory Coast,… Read More Here

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