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

May 26, 2022May 26, 2022 admin

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

Equipment & Technology Mining technology

Metso Outotec, Malvern work on ore sorting

May 25, 2022May 25, 2022 admin

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

Equipment & Technology Mining technology

Sandvik offers up enhanced three-deck Doublescreen solution

May 25, 2022May 25, 2022 admin

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

Cobalt Mining in Zambia

Mopani plans to resume cobalt production as prices rise

May 25, 2022May 25, 2022 admin

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 International

Copper price dips as investors fear economic slowdown

May 25, 2022May 25, 2022 admin

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

Copper Cobalt Zinc

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

May 25, 2022May 25, 2022 admin

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

Mining in DRC Mining Companies

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

May 25, 2022May 25, 2022 admin

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

Cobalt Lithium

China’s Huayou Cobalt to invest $300m in Zimbabwe lithium mine

May 24, 2022May 24, 2022 admin

China’s Zhejiang Huayou Cobalt plans to invest $300-million on rapid development of a lithium mine and processing plant at its newly acquired Arcadia project in Zimbabwe, according to company documents seen by Reuters on Tuesday. Huayou, one of the world’s biggest producers of cobalt, recently completed a $422-million purchase of the hard-rock lithium mine just outside Harare from Australia-listed Prospect Resources PSC.AX and other Zimbabwean minorities. “We intend to develop the project rapidly over the next year and invest around $300-million to develop the mine and construct a process plant with a capacity… Read More Here

Mining in Zambia Copper Mining Companies

WHY FQM’S $1.35 BILLION INVESTMENT IS GOOD FOR ZAMBIA

May 24, 2022May 24, 2022 admin

Earlier this month First Quantum Minerals (FQM) announced a mammoth US$1.35 billion package of new projects, with US$1.25 billion to be invested in expansion of our Kansanshi operations in Solwezi – known as the ‘S3’ project – and a final US$100 million to start the $250 million Enterprise nickel project in Kalumbila. The announcement was hailed as a game-changer for the nation, and the first step on the road towards the Government’s New Dawn for Zambia’s mining sector, in which it has set out its vision for the country to… Read More Here

International Tin

Tin falls and records a loss of 4,687.5 USD per ton in one week

May 24, 2022May 24, 2022 admin

After registering a remarkable drop in price in the international market last week, down to USD 2,981.25 per ton, tin could remain on this steep slope during this week. In its weekly report on the general trend in the prices of mining products exported from the Democratic Republic of Congo on the international market, the National Mercurial Commission notes a new drop in the price of tin. This product is expected to trade at $35,381.25 per ton this week from $40,068.75 per ton. In one week, tin recorded a drop… Read More Here