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Glencore sets aside $1.5bn to settle bribery probes

February 15, 2022February 15, 2022 admin

Investigations into corruption at Glencore have been underway since 2018, as the firm faces allegations of bribery and market manipulation. Glencore has announced its decision to set aside $1.5bn to resolve investigations into bribery and corruption at a number of its operations. The Anglo-Swiss firm is facing probes in the US, UK, and Brazil over corruption at its operations in the Democratic Republic of Congo (DRC), Venezuela, and Nigeria, with allegations first being levelled in 2018. Such investigations are expected to be resolved this year. The news comes as the… Read More Here

Copper International

Copper edges higher as Russian troops return to base

February 15, 2022February 15, 2022 admin

Copper prices ticked higher on Tuesday after Russia returned some troops to base after exercises near Ukraine, easing fears about a potential invasion and boosting financial markets. Three-month copper CMCU3 on the London Metal Exchange (LME) rose 0.7% to $9 985 a tonne by 11:15 GMT after a 0.6% gain the previous day. It was unclear how many Russian units were being withdrawn to their bases after an estimated 130 000 Russian troops had been moved close to the Ukraine border. “The metals markets in the short-term remain at the mercy of… Read More Here

Governance Mining in Zambia

Interventions in mining and other key sectors to prop Zambia’s GDP

February 15, 2022February 15, 2022 admin

Zambia government has revealed that by 2024, the country’s GDP is expected to rise to 4.4 per cent following strategic interventions in the agriculture, tourism, mining, manufacturing, energy, and transport sectors. The government has also projected a modest 3.5 per cent rise in its Gross Domestic Product (GDP) for 2022, a small rise from the 3.3 expected to have been attained last year. This is contained in the 2022-2024 Medium Term Budget Plan released by the Ministry of Finance. It said the economic outlook for 2022 and the medium term… Read More Here

International Mining technology

BHP first-half profits beats estimates and triggers talk of M&A

February 15, 2022February 15, 2022 admin

BHP Group announced a record dividend payout after reporting an estimate-beating first-half profits on Tuesday, helped by higher commodity prices, despite a cutback in demand from top metals consumer China. The miner has had a busy six months marked by sweeping changes, including selling its $13-billion petroleum business and a listing unification, while managing pandemic-related disruptions to its business. Iron ore prices, however, have halved from last year’s record levels as China’s push to curb emissions and easing construction activity in the country’s debt-laden property sector curtailed demand. Commodity price volatility will… Read More Here

Mining Companies

Glencore’s earnings rocket 84% to $21.3bn

February 15, 2022February 15, 2022 admin

Diversified mining and marketing company Glencore on Tuesday announced 84% higher financial results for the year, with earnings before interest, taxes, depreciation and amortisation (Ebitda) rising to $21.3-billion. Looking forward, Glencore CEO Gary Nagle said the company remained focused on its strategy to deliver decarbonisation and meet increasing demand for everyday metals, “while responsibly meeting energy needs of today”. Marketing earnings before interest and taxes were up 11% to $3.7-billion, while multi-year or record high prices for many commodities, underpinned the 118% jump in industrial Ebitda to $17.1-billion. Net income attributable to equity… Read More Here

Mining in Zambia Mining Careers

ENVIRONMENTAL OFFICER, MONITORING | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

February 15, 2022February 15, 2022 admin

Requisition Number: J4643| Country: Zambia | Contract Type: On-going| Location: Solwezi | Category: Environmental Apply now Job description: Overall Job Purpose : Conducting data analysis and all field environmental related monitoring activities. The role involves advising the environmental management team, middle management and employees on environmental management requirements and will require to develop and implement procedures and management plans. Specific Job Responsibilities: Undertake routine assessments on environmental conditions to establish root cause of potential operational impacts. Assist in preparation of technical guidelines and procedures for environmental monitoring requirements. Carry out daily, weekly, monthly and quarterly sampling of mine emissions… Read More Here

Mining Careers Mining in Zambia

ARTISAN RIGGER | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

February 15, 2022February 15, 2022 admin

Requisition Number: JR4295| Country: Zambia | Contract Type: On-going| Location: Solwezi | Category: Mining Maintenance Apply now Job description: Overall Job Purpose To carry out workshop, PCR rigging related functions and Maintenance / Breakdown support services to the Sentinel mine site. This will be done in such a manner so as to achieve cost savings, continuous improvement initiatives, and utilization of synergies throughout the area. This role will carry out the activities of the RTWS and open pit to ensure the application of appropriate levels of safety and productivity are maintained in order to meet safety, cost and productivity… Read More Here

Uncategorized

DRIVER, AMBULANCE | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

February 14, 2022February 14, 2022 admin

Requisition Number: J4508| Country: Zambia | Contract Type: Fixed Term| Location: Solwezi | Category: Administration Apply now At First Quantum, we free the talent of our people by taking a very different approach which is underpinned by a very different, very definite culture – the “First Quantum Way”. Working with us is not like working anywhere else, which is why we recruit people who will take a bolder, smarter approach to spot opportunities, solve problems and deliver results. Our culture is all about encouraging you to think independently and to challenge convention to deliver the best result. That’s… Read More Here

Gold International

Gold eases from 3-month highs, palladium investors wary of Ukraine conflict.

February 14, 2022February 14, 2022 admin

Gold prices fell on Monday, as the U.S. dollar gained, with worries around the Russia-Ukraine conflict limiting losses of the safe-haven metal and keeping palladium traders on tenterhooks. Spot gold was down 0.2% to $1,855.86 per ounce by 1030 GMT. On Friday, prices jumped the most since mid-October and hit their highest level since Nov. 19 at $1,865.15. U.S. gold futures rose 0.6% to $1,853.70. “Gold had a classic safe haven jump on Friday… (but) the problem with safe haven spikes is that they never really last for that long,”… Read More Here

Battery Metals Cobalt International

WORLD: the sale of electric cars doubles in 2021 to reach 6.6 million pieces sold against 3 million in 2020 (IEA)

February 14, 2022February 14, 2022 admin

Data from the International Energy Agency (IEA) released at the end of January 2022 indicated that automakers sold 6.6 million electric cars in 2021 compared to 3 million the previous year, double the sale of the latter. The uptrend is set to continue into 2022 and beyond as one auto industry giant after another announces multi-year plans to go all-electric. This table reflects the start of the electric vehicle boom announced several years ago. Also, a business opportunity in the Democratic Republic of Congo (DRC) because of its potential in mining… Read More Here