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Gold price bounces back after Fed’s rate hike announcement 1 Gold International 

Gold price bounces back after Fed’s rate hike announcement

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Gold steadied on Wednesday after falling to a two-week low earlier as the US Federal Reserve, in a widely expected move, raised interest rates by a quarter of a percentage point. The reversal comes as bullion’s appeal was dimmed by hopes of progress in Russia-Ukraine talks. Earlier, Ukrainian President Volodymyr Zelensky said peace talks were sounding more realistic, even as Russia’s invasion continued. Spot gold rose 0.5% to $1,926.96 an ounce by 5:08 p.m. ET. US gold futures stayed level at $1,927.00 an ounce on the Comex in New York.… Read More Here
The need for a fair resolution to the conflict between the shareholders of Tenke Fungurume (Cobalt litigation) 2 Mining in DRC Cobalt Copper 

The need for a fair resolution to the conflict between the shareholders of Tenke Fungurume (Cobalt litigation)

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Resources Matters advocates for a fair and transparent outcome to the conflict that has pitted Congo against one of its largest investors, China Molybdenum, for more than six months, over financial compensation for Tenke Fungurume Mining’s copper-cobalt reserves.   Earlier last week, a Congolese court appointed an interim administrator to lead Tenke Fungurume Mining (TFM) for the next six months, according to The New York Times and court documents seen by Resource Matters. TFM is one of the largest mining projects in the Democratic Republic of Congo and the world’s second largest producer… Read More Here
Copper at more than 10,500 USD per ton during this week from March 14 to 19, 2022  3 Copper Cobalt Mining in DRC 

Copper at more than 10,500 USD per ton during this week from March 14 to 19, 2022 

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The prices of the main export minerals of the DRC mainly show an upturn on the international market in the week from March 14 to 19, 2022, according to projections by experts from the National Mercurial Commission, a service attached to the Ministry of Foreign Trade in Democratic Republic of Congo. In this perspective, copper, the main export material of the DRC, is trading this week at 10,529 USD per ton against 9,957.40 USD ton last week, generating a positive price difference of 576 USD. Cobalt is also up this… Read More Here
De Beers reassures market its diamonds do not come from Russia 4 Diamond International 

De Beers reassures market its diamonds do not come from Russia

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Diamond major De Beers is encouraging retailers to “buy with confidence” by engaging with their suppliers to understand the origin of their diamonds, following an executive order by US President Joe Biden banning the importation of Russia-sourced diamonds into the US. Biden made the move as part of a broad package of sanctions against Russia, its State entities and political backers as a result of Russian President Vladimir Putin’s decision to invade Ukraine in February. Many nations have implemented a myriad of sanctions on Russian commodities and products, including oil and gas. According to business data platform Statista, Russia had… Read More Here
Shanta Gold’s West Kenya project receives its first mineral resource estimate 5 Gold International 

Shanta Gold’s West Kenya project receives its first mineral resource estimate

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Aim-listed The Ramula target at Shanta Gold’s West Kenya project  has received its first mineral resource estimate (MRE). This comes after a successful drilling campaign in 2021, with more updates on other targets – Isulu-Bushiangala and Bumbo – expected in the coming months. The Ramula target adds 434 400 ounces of inferred resources to West Kenya’s total resource, bringing it to 1.6 million ounces, up 36% from the previous MRE. The West Kenya project continues to produce exciting results, according to CEO Eric Zurrin, and the targets reaffirm the project’s… Read More Here
Liebherr exploring low emission engines 6 Equipment & Technology International Mining technology 

Liebherr exploring low emission engines

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German-Swiss multinational equipment manufacturer Liebherr is working with US-based engine software firm Tula Technology on the development of optimisation technologies that can reduce heavy machinery emissions. The companies have developed a joint study which showed Tula’s diesel Dynamic Skip Fire (dDSF) software can generate reductions of NOX tailpipe emissions by 41% and carbon dioxide (CO2) by 9.5%. The study used Liebherr’s D966, a compact 13.5L 6-cylinder diesel engine. In the next step, Liebherr will consider the integration of the dDSF software into other engines in its portfolio. DDSF uses patented… Read More Here
Metso Outotec wins India pelletising order 7 Equipment & Technology International Mining technology 

Metso Outotec wins India pelletising order

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Metso Outotec will deliver and deploy its travelling grate pelletising technology to be integrated with a 432 m2 indurating machine located in RPCL’s 3.2 mtpy pellet facility in Sandur, Karnataka. The technology will be used in the near-term to improve the iron content of the ore, maximizing the potential of the existing resources – a long-term goal is to increase the resource base. Traveling grate pelletizing plant is an induration technology for iron ore pellet production for a wide range of plant capacities. Traveling grate sinter plant reduces off-gas volumes and the… Read More Here
Copper price falls on demand concerns in China 8 Copper International 

Copper price falls on demand concerns in China

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Prices of industrial metals fell on Monday as diplomatic efforts to resolve the Russia-Ukraine conflict calmed supply-disruption fears, while demand concerns in top consumer China also weighed on the market. Copper for delivery in May fell on the Comex market in New York to $4.5405 per pound ($9,989 per tonne), down 1.8% compared to Friday’s closing. “Copper market sentiment is bearish as supplies are starting to ramp up. It shows some rational thinking,” said Dan Smith, managing director at Commodity Market Analytics. Ukraine will seek to discuss a ceasefire, immediate… Read More Here
Gold dealers swamped by demand as war creates inflation scare 9 Gold International 

Gold dealers swamped by demand as war creates inflation scare

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Gold is playing its age-old role as a safe haven in times of wars and crises, and people all over the world are piling in. Russia’s invasion of Ukraine has sent the price of everything from oil and gas to wheat and metals skyrocketing, sparking inflation fears and threatening global growth. That’s driving retail investors everywhere from Vienna and Singapore to New York to the safety of gold, which spiked to $2,070.44 an ounce, close to the record reached during the pandemic. The almost 10% surge in gold prices since… Read More Here
Ivanhoe invests initial R200m in Renergen to secure clean energy for Platreef 10 Energy 

Ivanhoe invests initial R200m in Renergen to secure clean energy for Platreef

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Canadian miner Ivanhoe Mines has invested R200.6-million ($13.3-million) in South African natural gas and helium producer Renergen by buying more than 5.6-million Renergen shares, at R35.625 a share. The placement is within the company’s existing pre-approved placement capacity, and means that Ivanhoe will now acquire an initial strategic shareholding in Renergen and, subject to its evaluation of the company and the scalability of operations, may thereafter become a strategic partner and major shareholder in Renergen. The conditional option provides for Ivanhoe to potentially invest up to $250-million in Renergen, with… Read More Here

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