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Caterpillar warns of weaker China demand as lockdowns bite 1 International Equipment & Technology 

Caterpillar warns of weaker China demand as lockdowns bite

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Caterpillar Inc. warned that demand in China will be even weaker than the mining and construction giant previously expected as Covid-19 lockdowns across the nation threatens to undermine economic growth. The company’s first-quarter results Thursday showed China sales and demand slumping, even as other businesses including mining and construction improved. Caterpillar had “strong years” in China in 2020 and 2021 and had previously expected this year to be worse, similar to what it experienced in 2019, Chief Financial Officer Andrew Bonfield said in an interview. “Now our expectations are slightly… Read More Here
Epiroc buys Aussie electrifier 2 Equipment & Technology Mining technology 

Epiroc buys Aussie electrifier

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Perth, Western Australia-based JTMEC specialises in providing electrical infrastructure in mines and is a key player in the industry’s transition to battery electrification. Its offerings include high voltage installation and maintenance work, transformer servicing and testing, feasibility studies, and training. It also manufactures electrical products including substations and mine chargers. Epiroc president and CEO Helena Hedblom believes JTMEC will be a key enable or mine electrification going forward. “Battery electrification represents the future in the mining industry and the strong team at JTMEC is playing and important role in enabling… Read More Here
Glencore hails trading unit outlook, cuts copper guidance 3 Copper International 

Glencore hails trading unit outlook, cuts copper guidance

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Miner and commodities trader Glencore (LON: GLEN) touted on Thursday prospects for its trading unit, saying it faces another strong year as Russia’s invasion of Ukraine continues to drive up prices of most commodities the company mines and sells. Delivering results for the first three months of the year, the Swiss company said earnings from its marketing unit will “comfortably” top the highest end of its guidance range of $2.2 billion to $3.2 billion. That would make it the third straight year the unit has exceeded the range, as first the… Read More Here
A ton of copper tumbles to 9,695.85 USD at the end of this week 4 Copper International 

A ton of copper tumbles to 9,695.85 USD at the end of this week

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In a downward trend for a few weeks already, the price of copper fell again on the international metals market at the end of this week, inform the indicators of London Metal Exchange (LME). On the London Stock Exchange, this product is trading at USD 9,695.85 per tonne as of April 29, 2022 compared to USD 10,276.50 at the start of last week. By comparing these two periods under analysis, it appears that this product recorded a negative price difference of around 580.65 USD on its market value on the… Read More Here
CNPAV's insists on publishing MOU signed by the Congolese State and Dan Gertler's Ventora group-DRC 5 Mining in DRC 

CNPAV’s insists on publishing MOU signed by the Congolese State and Dan Gertler’s Ventora group-DRC

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Le Congo N’est Pas à Vendre (CNPAV) insists on the need to publish the memorandum of understanding for the amicable settlement of all disputes between the DRC and the Ventora group of the Israeli economic operator Dan Gertler. According to the CNPAV, this memorandum of understanding signed on February 24 should be published no later than 60 days after their signature, that is to say, before April 25, 2022.  In addition, the CNPAV also requires the publication of 5 settlement agreements of March 16, 2022 (Justice, Hydrocarbons, Mines, Portfolio – Ventora… Read More Here
Opening of the 24th meeting of the Regional Committee on Natural Resources 6 Events & Expos 

Opening of the 24th meeting of the Regional Committee on Natural Resources

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Several interventions took place at this 24th meeting of the regional committee on natural resources, this Monday 25/April at Pullman Hotel. First, the IcGLR/DRC Deputy National Coordinator Mutombo Kaniki noted that all Member States are determined to implement the Lusaka Agreements, with a view to fully pacifying the Great Lakes region. Then, for the President of the ICGLR Regional Committee on Natural Resources, Annick Makole, the region’s natural resources should not be a source of conflict but rather a factor of development. In addition, the Minister of Regional Cooperation and… Read More Here
Shanta on track to become 100 000 oz/y gold producer 7 Gold 

Shanta on track to become 100 000 oz/y gold producer

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Aim-listed Shanta Gold recorded a good start to the year operationally, with mining beginning a month ahead of schedule at the high-grade Bauhinia Creek Crown Pillar at the New Luika gold mine (NLGM), in Tanzania, CEO Eric Zurrin notes in a production and operational results update for the quarter ended March 31. “With the initial ore being mined at the expected grades of 8 g/t, we are confident that our 2022 guidance of 68 000 oz to 76 000 oz has been significantly derisked,” he says. Further, the company’s Singida project, in Tanzania, remains on budget and on schedule, and with construction well… Read More Here
First Quantum Minerals’ profit more than doubles on higher prices 8 Copper International Mining Companies 

First Quantum Minerals’ profit more than doubles on higher prices

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Copper miner First Quantum Minerals Ltd reported a 171% jump in first-quarter profit on Tuesday, powered by higher prices for the red metal from supply worries. Realized price of copper, a key metal used in wiring, electric vehicles and other electronics, rose nearly 37% to $4.45 per pound in the quarter, the company said, on fears that Russia’s invasion of Ukraine would disrupt supply chains. Total copper production fell 11% to 182,210 tonnes in the reported quarter. “Given the current events with the Ukraine conflict and covid-19 restrictions in China, and most recently… Read More Here
Copper price rebounds as China steps up support for economy 9 Copper International 

Copper price rebounds as China steps up support for economy

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The copper price recouped some of Monday’s losses after China pledged more support to help revive an economy that’s been imperiled by the escalating virus outbreak. The metal fell on Monday to the lowest in three months with mounting concern about the outlook for demand due both to spreading lockdowns in China and the continuing war in Ukraine. On Tuesday, copper rose as much as 2.3% in China as the country’s central bank vowed to increase monetary support to the real economy, especially for industries and small businesses hit hard by the pandemic. That follows the People’s… Read More Here
GNRI considers sale of $1.5 billion Botswana copper mine 10 Copper 

GNRI considers sale of $1.5 billion Botswana copper mine

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Private equity firm GNRI is considering options for its Khoemacau copper mine in Botswana including a possible sale, people familiar with the matter said. The resources-focused investment firm is working with an adviser to identify potential suitors for the asset, the people said, asking not to be identified as the matter is private. A deal could value the asset at about $1.5 billion, the people said. Three-month copper futures have gained about 2% on the London Metal Exchange this year. Khoemacau could attract interest from large miners seeking to expand… Read More Here

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