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Has Cobalt’s Battery-Powered Boom Turned to Bust? 1 Cobalt Battery Metals International 

Has Cobalt’s Battery-Powered Boom Turned to Bust?

Constance
A blistering rally in the cobalt market is turning into a rout, putting pressure on miners and offering tentative cost relief for carmakers after a surge in battery metal prices last year. Cobalt rallied sharply early in 2022 as demand for electric vehicles surged. But while automotive usage is still rising, there’s been a sharp drop-off in buying from another key sector — Chinese electronics — and cobalt prices have crashed more than 50% since a peak in May. Pound for pound, the batteries used in laptops, phones and tablets… Read More Here
Glencore to sell 23% stake in Peruvian miner Volcan 2 Copper International 

Glencore to sell 23% stake in Peruvian miner Volcan

Constance
Miner and commodities trader Glencore (LON: GLEN) has kicked off a sale process for its 23% stake in Peruvian zinc and silver miner Volcan. Delivering 2022 results, the Swiss company said the move was part of its efforts to further simplify the business and continue to delivering value to its investors. Glencore, the first of the world’s top diversified miners to post 2022 earnings, announced on Wednesday it would return more than $7 billion to shareholders in dividends and buybacks thanks to a record profit of $34.1 billion. Volcan is not the… Read More Here
Closure of Zambia's Mopani Copper Mine Deal Anticipated Soon 3 Copper Mining in Zambia 

Closure of Zambia’s Mopani Copper Mine Deal Anticipated Soon

Constance
Zambian Minister of Mines Paul Kabuswe has stated that the Mopani Mines deal is anticipated to conclude by the end of the first quarter of 2023, in a declaration made on the sidelines of the Africa Mining Indaba on February 6, 2023. According to him, 10 firms have displayed an interest in the mine and smelter complex. Minister of Mines Paul Kabuswe expressed confidence that the asset owned by ZCCM-IH, the State Mining Investment firm, will find a suitable buyer to provide the required capital and expertise to modernize the… Read More Here
Barrick CEO Warns of Ongoing Inflation Impact on Results Due to Higher Costs 4 Gold International 

Barrick CEO Warns of Ongoing Inflation Impact on Results Due to Higher Costs

Constance
Barrick Gold Corp.’s CEO, Mark Bristow, believes that inflation will continue to be a challenge for the mining industry. Despite expectations that inflation could start to ease as central banks increase borrowing costs, Bristow doesn’t see a significant change in the situation. During an interview , Bristow highlighted that “no one’s doing anything to kill inflation” and that “it’s definitely not over.” In 2022, Barrick’s earnings were affected by higher inflation, lower production, and “challenges” at the Turquoise Ridge mine in Nevada. Fourth-quarter results missed guidance on costs, causing Barrick’s… Read More Here
In 2022, DRC's Zinc production reached 13,578.30 tonnes 5 Mining in DRC Zinc 

In 2022, DRC’s Zinc production reached 13,578.30 tonnes

Constance
Zinc production in the Democratic Republic of Congo (DRC) recorded, during the year 2022, a lower level than the year 2021. According to statistical data published by the Ministry of Mines, during the aforementioned period, mining industries operating in the Democratic Republic of Congo produced 13,578.30 tons of zinc. The same source indicates that during the year 2021, zinc production in the Democratic Republic of Congo was 16,079.39 tons. In 2022, the export volume of zinc was 13,578.30 tons against 16,079.39 tons the previous year. The zinc price is slightly… Read More Here
Global demand for lithium batteries to leap five-fold by 2030 – Li-Bridge 6 Battery Metals International Lithium 

Global demand for lithium batteries to leap five-fold by 2030 – Li-Bridge

Constance
Global demand for lithium batteries is expected to surge more than five-fold by 2030, public-private alliance Li-Bridge said on Wednesday, as more people opt for electric vehicles and energy storage systems. Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade, but still the country is expected to depend on imports for supply, the report add Li-Bridge works toward accelerating the development of a robust supply chain for lithium-based batteries and… Read More Here
Ivanhoe Electric stock surges on Santa Cruz resource update 7 Copper Exploration International 

Ivanhoe Electric stock surges on Santa Cruz resource update

Constance
Ivanhoe Electric (TSX: IE) has provided an updated mineral resource estimate for the Santa Cruz copper project located west of Casa Grande, Arizona, which now includes the first resource for the East Ridge deposit directly adjacent to the Santa Cruz deposit and for the Texaco deposit approximately 1.6 km to the northeast. This resource update is based on much higher cut-off grades than the 0.39% used in the December 2021 resource statement to account for the consistency and thickness of the higher-grade exotic, oxide and enriched copper domains. The resource… Read More Here
Analysts See Short-term Strength, Long-term Generational Shift' in Copper Prices 8 Copper International 

Analysts See Short-term Strength, Long-term Generational Shift’ in Copper Prices

Constance
Along with experiencing a short-term supply shortage, copper is set to undergo a “generational shift” in demand as decarbonization ramps up, according to BNY Mellon Lead Portfolio Manager Al Chu. Copper is a leading barometer of global economic health due to its wide-ranging usage, including in electrical equipment and industrial machinery — it had a strong start to the year, given a weakening dollar and investor expectations to see a surge in demand after the reopening of the Chinese economy. Short-term supply issues have also emerged alongside a rebound in demand, such as… Read More Here
Sandvik wins SEK 370m BEV Equipment Supply Contract with Rana Gruber in Norway 9 Contracts & tenders Equipment & Technology International 

Sandvik wins SEK 370m BEV Equipment Supply Contract with Rana Gruber in Norway

Constance
Sandvik has been selected to supply a fleet of 19 battery-electric vehicles (BEVs) for use at Rana Gruber’s iron ore mine operations in Storforshei in northern Norway. The order is valued at approximately SEK 370 million, and includes trucks, loaders, drills, on-site service support and batteries. About 85% of the total value will be booked in the first quarter 2023, and the remaining part was booked in December 2022. Deliveries are planned to begin during the first quarter of 2023 and continue through 2024. The BEV fleet will support Rana… Read More Here
FQM CEO Updates Panama Collaborators and Suppliers on Contract Talks With Govt 10 Copper Contracts & tenders International 

FQM CEO Updates Panama Collaborators and Suppliers on Contract Talks With Govt

Constance
Tristan Pascall, CEO of First Quantum Minerals Ltd., during his recent visit to Panama with the Board of Directors, met with collaborators of Cobre Panama, as well as with local suppliers of the company, with whom he shared an update on the status of the situation regarding the talks with the Government of Panama, with a view to the signing of a new contract. Pascall indicated that “our goal remains to find an agreement with the Government that protects the more than 40,000 formal jobs and protects our investment. In… Read More Here

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