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Metso Outotec to deliver copper electrowinning technology to Africa. 1 Equipment & Technology International Mining technology 

Metso Outotec to deliver copper electrowinning technology to Africa.

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Finnish mining equipment maker Metso Outotec has been awarded an Є11 million (US$11.5 million) contract for the delivery of advanced electrowinning equipment to a copper cathode production plant in Africa.  Metso Outotec’s scope of delivery includes the supply of basic engineering and equipment for the copper electrowinning plant expansion. Metso Outotec’s offering for copper electrowinning tankhouses comprises pre-engineered solutions, key equipment, and services to ensure superior process performance, increased safety, and minimized environmental impact. Metso Outotec also announced today that it has completed the acquisition of Tesab, a Northern Ireland based company… Read More Here
EU Plans to Court Africa to Help Replace Russian Gas Imports 2 Energy International 

EU Plans to Court Africa to Help Replace Russian Gas Imports

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The European Union will seek to step up cooperation with African countries to help replace imports of Russian natural gas and reduce dependence on Moscow by almost two-thirds this year. Countries in Africa, in particular in the western part of the continent, such as Nigeria, Senegal, and Angola, offer largely untapped potential for liquified natural gas, according to a draft EU document seen by Bloomberg News. The communication on external energy engagement is set to be adopted by the European Commission later this month as part of a package to implement the bloc’s plan to cut energy reliance on Moscow. The 27-nation bloc wants to shift away from its biggest… Read More Here
Uranium miners ready to meet market needs, WNFC hears 3 Uranium International 

Uranium miners ready to meet market needs, WNFC hears

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“We face an unprecedented time ahead of us,” said session moderator Treva Klingbiel, president of TradeTech. “We face both incredible challenges and opportunities given where we are in the marketplace, both with the need for new nuclear and the expectations and realisation that we need it and we face a supply deficit. And also on top of that, we have outsized geopolitical events that are really overshadowing and can impact much of the nuclear fuel cycle.” Cameco President and CEO Tim Gitzel noted the 2011 accident at the Fukushima Daiichi… Read More Here
Calls for tenders for the acquisition and exploitation of 16 oil blocks- DRC 4 Mining in DRC Energy Oil & Gas 

Calls for tenders for the acquisition and exploitation of 16 oil blocks- DRC

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The Congolese Minister of Hydrocarbons, Didier Budimbu, announces that he will proceed to calls for tenders for the exploitation of the oil blocks recovered by the Government from July 28 to 29, 2022 in Kinshasa. These operations will take place under the high patronage of the Congolese Head of State, Félix Antoine Tshisekedi, informs the communication service of the Ministry of Hydrocarbons. Through these tenders, the Government intends to get its hands on investors capable of enabling the country to increase its oil exploitation. According to the Minister of Hydrocarbons,… Read More Here
Sandvik to supply underground BEV fleet to Hindustan Zinc, one of the world’s largest integrated producers of zinc 5 Equipment & Technology International 

Sandvik to supply underground BEV fleet to Hindustan Zinc, one of the world’s largest integrated producers of zinc

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Sandvik and Hindustan Zinc have signed a Memorandum of Understanding for supply of a battery-electric underground equipment fleet to be used at Sindesar Khurd Mine to help it achieve its carbon neutrality ambitions. Deliveries are scheduled to begin in the first quarter 2023, and it will be the first underground BEV fleet deployed in India. The equipment to be delivered includes a LH518B loader and three TH550B trucks as well as a DD422iE drill rig with Sandvik’s unique and patented ”charging-while-drilling” technology. Sandvik will also provide batteries, charging systems and… Read More Here
Gold price falls to near 3-month low as Fed meeting approaches 6 Gold International 

Gold price falls to near 3-month low as Fed meeting approaches

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Gold prices fell to a near three-month low on Monday as increased prospects of faster rate hikes by the US Federal Reserve lifted both Treasury yields and the dollar, swaying investors away from the precious metal. Spot gold declined 1.6% to $1,869.52 per ounce by 12:20 p.m. ET, its lowest since mid-February. US gold futures took a 2.3% hit, trading at $1,867.50 per ounce in New York. Meanwhile, the dollar hovered close to a 20-year high amid global growth concerns and expectations of more hawkish tone from the Fed. Benchmark… Read More Here
Tesla delays filing as investors await word on possible stock split 7 Battery Metals International 

Tesla delays filing as investors await word on possible stock split

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Tesla Inc. needs more time to file a regular disclosure ahead of its annual shareholders’ meeting, pushing back a potential detailing of plans for issuing new shares and a possible stock split. Elon Musk’s electric-car-market leader said on Monday in a securities filing that it wouldn’t be able to file a proxy statement until sometime later this year, without providing a specific timeline. Tesla faced an April 30 deadline for filing its shareholder proxy after the end of its fiscal year on Dec. 31. “We currently expect that our definitive… Read More Here
Copper price slips on China lockdown worries 8 Copper International 

Copper price slips on China lockdown worries

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The copper price slipped on Monday as covid-19 lockdowns in China and prospects of aggressive US rate hikes fuelled recession fears. Copper for delivery in July fell 4% from Friday’s settlement price, touching $4.23 per pound ($9,307 per tonne) midday Monday on the Comex market in New York, the lowest since December 1. The official Purchasing Managers’ Index (PMI) fell to 47.4 points in April, down from 49.5 in March and the weakest outcome since February 2020, China’s National Bureau of Statistics said on April 30. It was the second straight… Read More Here
Set at 10%, the mining royalty rate in force in the DRC remains the highest 9 Mining in DRC 

Set at 10%, the mining royalty rate in force in the DRC remains the highest

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The mining governance of the Democratic Republic of Congo DRC is strongly challenged by several international organizations working in this sector. According to the March 2022 report published by the Extractive Industries Transparency Initiative(EITI), setting the mining royalty rate at 10%, the Democratic Republic of Congo has the highest rate in the world. The rise and fall of cobalt prices may have challenged some governments and companies. After the price hike between 2016 and 2017, the DRC government increased the royalty rate from 2% to 3.5% and then to 10%,… Read More Here
With the exception of tantalum, all other main DRC export minerals are trending down this week from May 2-7, 2022 10 Copper Cobalt Gold Mining in DRC Zinc 

With the exception of tantalum, all other main DRC export minerals are trending down this week from May 2-7, 2022

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The general trend of the main mineral export products of the Democratic Republic of the Congo is downward for the main mineral exports of the Democratic Republic of the Congo, according to projections by the National Mercurial Commission of the Ministry of Foreign Trade. Only tantalum is showing an uptrend this week. It is trading on the international market at 390 USD per Kg against 386.60 USD per Kg last week, i.e. a price increase of 3.4 USD. Copper is down this week at 10,047.05 USD per tonne against 10,284.55 USD… Read More Here

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