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South Africa, Namibia among new African Green Hydrogen Alliance’s founding members 1 Energy 

South Africa, Namibia among new African Green Hydrogen Alliance’s founding members

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South Africa, Namibia and four other African countries on May 18 formally launched the Africa Green Hydrogen Alliance, with the aim to make the continent a frontrunner in the race to develop green hydrogen, to accelerate the transition away from a reliance on fossil fuels and to shift to new energy technologies that open up access to clean, affordable energy supplies to all. In forming the alliance, Kenya, South Africa, Namibia, Egypt, Morocco and Mauritania intend to foster collaboration on creating a sustainable enabling environment to supercharge green hydrogen development.… Read More Here
Copper prices slip on lingering global slowdown worries 2 Copper International 

Copper prices slip on lingering global slowdown worries

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Copper prices fell on Wednesday, as bets of big US rate hikes following hawkish comments from Federal Reserve officials, and a recent batch of weak economic readings from China put focus back on global economic growth concerns. Benchmark three-month copper on the London Metal Exchange (LME) was down 0.6% at $9 306/t, as of 05:00 GMT, after hitting a more than one-week high of $9 434/t on Tuesday. The most-active June copper contract on the Shanghai Futures Exchange edged 0.1% lower to 71 600 yuan ($10 606.31) a tonne by the midday break. “There is some selling… Read More Here
Electric vehicles surpass phones as top driver of cobalt demand 3 Battery Metals Cobalt International Mining in DRC 

Electric vehicles surpass phones as top driver of cobalt demand

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Electric vehicles (EVs) overtook smartphones and other high-tech devices for the first time last year as the main driver of cobalt demand, with the sector consuming 59,000 tonnes of the battery metal, or 34% of the total globally. According to a report published on Tuesday by the Cobalt Institute, cellphones manufacturers consumed 26,000 tonnes of the metal used in lithium-ion batteries, while laptops and tablets accounted for 16,000 tonnes of the total demand, which reached 175,000 tonnes. The figure contrasts with the 160,000 tonnes of cobalt mined last year, highlighting one of… Read More Here
Copper price rises on easing covid-19 restrictions in China 4 Copper International 

Copper price rises on easing covid-19 restrictions in China

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Copper prices climbed on Tuesday as easing lockdown restrictions in China stoked hopes of improving demand. Shanghai set out plans on Monday for ending the covid-19 lockdown that has lasted more than six weeks. The commercial hub of 25 million on Tuesday achieved the long-awaited milestone of three consecutive days with no new covid cases outside quarantine zones. “Shanghai is coming out of lockdown gradually and that is giving rise to demand hopes for cyclical commodities in particular,” said Commerzbank analyst Daniel Briesemann. “From a technical point of view, most… Read More Here
Caterpillar eyes energy transition as growth driver for mining business 5 Equipment & Technology International Mining technology 

Caterpillar eyes energy transition as growth driver for mining business

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Construction equipment maker Caterpillar Inc believes demand for critical minerals as the clean energy transition gathers pace will translate to solid returns for its mining business, CEO Jim Umpleby said in an interview on Tuesday. The company is aiming at a global market worth about $5 trillion for energy transition infrastructure between 2021 and 2040, Umpleby said. “Mining capital expenditures have been relatively subdued over the last few years and we believe that will increase,” he told Reuters after the company’s investor day meetings. Executives reaffirmed the heavy machinery giant’s machinery, energy and transportation services… Read More Here
Epiroc to relocate operations from Japan to China 6 International Equipment & Technology Mining technology 

Epiroc to relocate operations from Japan to China

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Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, will relocate the production and development of drill rigs for surface construction from Japan to its facility in Nanjing, China. The production facility in Yokohama, Japan, has been sold and will be closed.  Epiroc’s customer center will be relocated in the Yokohama area to keep supporting customers in Japan with product and application know-how as well as to provide overhauls, rebuilds, and upgrades of their existing fleets. In Nanjing, the manufacturing will benefit from larger-scale production, sourcing,… Read More Here
Sandvik lifts financial targets, cuts costs amid global uncertainty 7 Equipment & Technology Mining technology 

Sandvik lifts financial targets, cuts costs amid global uncertainty

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Swedish engineering group Sandvik on Tuesday set in place new measures to cut costs and raised its long-term financial targets as uncertainty continued amid the conflict in Ukraine. Among its new measures, the maker of metal-cutting tools and mining gear said it would consolidate production units and close sites in a bid to save an annual 600 million Swedish crowns ($60 million). Sandvik said it was targeting higher revenue growth of at least 7% through a business cycle, organically and through acquisitions, and adjusted operating margin (EBITA) of 20-22%. Its previous targets had been for at least 5% revenue growth and 16%… Read More Here
The price of tin could register a decline of 2,981.25 USD per tonne this week 8 Mining in DRC Tin 

The price of tin could register a decline of 2,981.25 USD per tonne this week

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The prices of the main mining products exported from the Democratic Republic of Congo (DRC) have been in freefall on the international market for several weeks. This trend was confirmed in the latest report by experts from the National Mercurial Commission of the DRC Ministry of Foreign Trade, which takes into account the period from May 16 to 21, 2022. This document indicates that tin should experience a significant drop during this period and should sell at 40,068.75 USD per tonne against 43,050.00 USD last week, i.e. a negative price… Read More Here
Battery boom pulls trading giant Trafigura into lithium business 9 Battery Metals International Lithium 

Battery boom pulls trading giant Trafigura into lithium business

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Trafigura Group said its plan to invest in a new UK lithium refinery will mark the start of the trading giant’s foray into buying and selling the crucial battery metal. Last week’s agreement to back the plant being developed by startup Green Lithium brings the world’s top independent commodities trader into a market struggling to create enough new supply to meet demand for electric vehicles. The deal is part of Trafigura’s plan to grow a lithium trading book and link global car and battery companies to mines, its nickel and… Read More Here
Galileo reports positive exploration progress at its Luansobe copper project 10 Copper Mining in Zambia 

Galileo reports positive exploration progress at its Luansobe copper project

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Aim-listed Galileo Resources has announced positive exploration progress at its Luansobe copper project, in Zambia. The project is situated on the Zambian copper belt, where Galileo holds a 75% interest in a small-scale exploration licence. So far, portable X-ray fluorescence (pXRF) spectroscopy testing of the historic drill core, which was subject to full assay checking, has provisionally identified an upper mineralised zone of moderate copper grade, with some higher-grade intervals, in several holes, extending up to 36 m in thickness. “We are receiving very satisfactory results from our work on… Read More Here

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