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Gold prices buckle under pressure from ‘King Dollar’, higher yields

May 16, 2022May 16, 2022 admin

Gold prices fell more than 1% to their lowest in 3-1/2 months on Monday as elevated bond yields and a firmer U.S. dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher Treasury yields raise the opportunity cost of holding zero-yield bullion. Spot gold was down 0.4% to $1,804.01 per ounce as of 1124 GMT, after hitting its lowest since Jan. 31 at $1,786.60 earlier in the session. U.S. gold futures fell 0.3% to $1,802.20.… Read More Here

Career Mining in Zambia

Jubilee Metals peaks performance in SA and Zambia

May 16, 2022May 16, 2022 admin

Jubilee Metals Group PLC, a leader in metals processing with operations in Africa has provided a performance update of its new and expanded fully integrated South African Inyoni PGM and Chrome Operations and its Zambian Southern Copper Strategy. This new and significantly enlarged operational footprint follows a R 786 million investment programme implemented over the past 12 months. Leon Coetzer, CEO of Jubilee, commented: “The Jubilee team was bold in its plans to expand and optimise the South African and Zambian operations, however a confident, but prudent approach to the… Read More Here

Battery Metals International

Electric cars to account for over 80% of battery demand in next 20 years despite current challenges – report

May 16, 2022May 16, 2022 admin

Electric cars are expected to account for 79% of the EV market revenues and 83% of battery demand in the next two decades despite some current challenges, a new report by IDTechEx shows. According to the research firm, the reason for cars to continue to lead the EV sectors is that they have long been the focus of government policy for their popularity and the need to reduce road emissions. At present, electric cars are the largest market among EVs, with sales more than doubling in 2021 to over 6.4 million. But… Read More Here

Mining in Zambia Mining Careers

SUPERINTENDENT-SECURITY OPERATIONS | MINING CAREERS AT KAGEM MINING LIMITED, LUSAKA ZAMBIA

May 13, 2022May 13, 2022 admin

Location: Lusaka, Zambia | Report: Assistant Manager Kagem is seeking remarkable candidate to join the team, in the position of Security Operations Job Purpose To ensure adequate manpower, infrastructure, and equipment availability in all security locations Principle Accountabilities Supervise security staff deployment at various points to ensure that they are active and carrying out their duties efficiently at the designated location. Conduct security infrastructure inspections at the point of work and recommend continues improvements Implement and ensure security SOPs are followed at place of work and on any discrepancies Ensures that discipline and… Read More Here

Copper International

Copper wavers near $9 000 after fear-filled week for metals

May 13, 2022May 13, 2022 admin

Copper steadied and aluminum rose after a turbulent week for metals dominated by growing concerns over the state of the global economy. While metals markets were calmer Friday, prices have endured a dismal few days on fears about monetary tightening as well as demand from top consumer China. Copper — often seen as an economic bellwether — is heading for its sixth weekly decline in London. Federal Reserve Chair Jeromy Powell on Thursday pushed back against speculation of more aggressive interest-rate hikes. But weaker global growth remains a key worry… Read More Here

Mining in DRC Mining Companies

The Carter Center publishes a Guide on implementing social responsibility specifications for mining companies-DRC

May 13, 2022May 13, 2022 admin

There is now a “Practical Guide on the Process of Negotiations, Examination and Execution of the Specifications for Social Responsibility of Mining Companies in the DRC. It was released on May 6, 2022 by The Carter Center through its Extractive Industries Governance Program in the Democratic Republic of Congo, reports a press release from that organization. This so-called “reference” Guide is intended to help stakeholders better conduct and manage the process of specifications in the mining sector of the Democratic Republic of Congo. The Guide provides guidance and practical responses to… Read More Here

Equipment & Technology Mining technology

Hitachi Energy selected for haul truck electrification solution

May 13, 2022May 13, 2022 admin

lobal technology company Hitachi Energy has been selected as a technology vendor in the Charge On Innovation Challenge. Founded by BHP, Rio Tinto and Vale, together with multiple industry patrons, the initiative sees the world’s mining industry unite to solve one of the biggest challenges in decarbonising mining operations – the electrification of haul trucks. Hitachi Energy’s proposal met the judges’ rigorous criteria for interoperable solutions, the company says. The flexible design enables electricity to be safely delivered to large battery-powered off-road electric haul trucks, while maintaining or improving productivity… Read More Here

Gold International

Gold price retreats as dollar rally dims precious metals appeal

May 13, 2022May 13, 2022 admin

Gold, along with other precious metals, retreated on Thursday as investors’ attention turned to the accelerating dollar, driven by bets that the US Federal Reserve will stick to aggressive rate hikes. Spot gold fell 1.0% to $1,834.30 per ounce by noon EDT, erasing its gains from the previous session. US gold futures were also down 1.0% to $1,833.90 per ounce in New York. Chipping away gold’s value was the US dollar, which climbed to fresh 20-year highs Thursday, reducing the safe-haven metal’s appeal for other currency holders. “Dollar is rallying… Read More Here

Copper Mining in DRC Mining in Zambia

Investors are rushing back into Africa’s copper country

May 13, 2022May 13, 2022 admin

Mining investors are stampeding back into a region many had seemed determined to leave. Straddling the border of Zambia and the Democratic Republic of Congo, a vast forested area roughly the size of Portugal contains one of the world’s richest caches of minerals: copper for wires and cables, and cobalt for rechargeable batteries. At the intersection of the two African nations, trucks queue for about 53 kilometers (33 miles) along a cratered road snaking past giant mounds of mining residue and villagers selling stacks of watermelons — most of them… Read More Here

Energy Mining in Zambia

Zambian energy crisis opening way to clean energy for the country and its mines

May 12, 2022May 12, 2022 admin

The energy crisis in Zambia had created a situation in which the country could combine increasing its electricity generation capacity with a simultaneous transition to low-carbon renewable energy sources. This was pointed out to Mining Weekly Online by Zambian State-owned group ZCCM Investments Holdings board chairperson Dolika Banda in an exclusive interview at the Mining Indaba 2022 conference in Cape Town, on Thursday. “Our energy situation is untenable,” she affirmed. “Electricity is unreliable and power outages are frequent. Many have to use generators, which is costly. This situation is not sustainable. Zambia… Read More Here