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Category: Global markets

Caterpillar Freezes Executive Pay | COVD 19 Effects 1 Global markets International 

Caterpillar Freezes Executive Pay | COVD 19 Effects

arnbethnic
Caterpillar has instituted a freeze on base pay increases in 2020 as part of its cost cutting efforts to try and stave off the worst effects of the COVID-19 pandemic on its business. The measure affects senior executives, management and salaried employees.   Employees covered by Caterpillar’s short-term incentive plans (STIPs) will not receive a STIP payout for the 2020 plan year either. That includes the annual incentive plan for Caterpillar’s executive officers. A Caterpillar spokeswoman said these were among the efforts the company was taking to reduce costs across the… Read More Here
Mopani Copper Mines Copper Global markets 

Mopani Copper Mines to review spending in the midst of the coronavirus threat

arnbethnic
Mopani Copper Mines, a subsidiary of Glencore in Zambia, will conduct a comprehensive review to minimize cash outflows and avoid the uncertainty caused by the corona virus threat. “The rapid fall in copper prices due to the impact of COVID-19 has now put Mopani’s operations under significant additional pressure,” the company said. Copper prices are set for the worst week since 2011 after falling 10% so far. The metal that is often called “Dr. Copper” as it acts as a bellwether for the global economy and has been hard hit… Read More Here
Global Diamond Mining Industry | The Way Forward 2020 2 Diamond Gemstones Global markets International Mining in DRC 

Global Diamond Mining Industry | The Way Forward 2020

arnbethnic
  Alrosa and DeBeers are the two companies that share half of the world’s diamond supply.     Whether you have ever owned an actual piece of diamond jewelry or not, you have probably heard about the dark history of the diamond trade. The concept of a blood diamond came from different parts of the African continent where diamond mining companies were exploiting workers and entire communities for profit. People have been suffering in gruesome conditions, and human rights organizations are still in the fight to end this issue.   While… Read More Here
How can Zambia Prevent an Economic Disaster Post-COVID-19? 3 Mining in Zambia Global markets Mining tax 

How can Zambia Prevent an Economic Disaster Post-COVID-19?

arnbethnic
The COVID-19 pandemic – whilst first and foremost a public health emergency – is creating a global economic crisis in its wake, which could cause longer lasting disruption than the virus itself. For the mining industry, the disappearance of global industrial activity has created a sudden and severe over-supply of copper, causing prices to plummet. The turmoil threatens to kill mining industries around the world, including Zambia’s.  Renowned economist Professor Oliver Saasa shares his views on possible responses that Government could implement to mitigate the damage. Countries around the world are swiftly… Read More Here
Mine Closures Impact on Global Copper Supply – Report 4 Copper Global markets International 

Mine Closures Impact on Global Copper Supply – Report

arnbethnic
The collapse of the copper price and the containment measures taken for the coronavirus pandemic are posing a significant risk to global copper mine supply and project development, Nick Pickens, research director at Wood Mackenzie said in a note this week. Day-by-day, mining companies are announcing revised plans to comply with new restrictions. “For now, temporary closures will be absorbed by our mine disruption allowance,” Pickens said.  “In a scenario where there are wholesale closures of mines in Peru and Chile for 15 days, we would see 1.5% wiped from… Read More Here
Gold ZCCM-IH Gold Global markets 

Despite Covid-19 Closures, There is Enough Gold Refining to Meet Demand – LBMA

arnbethnic
The London Bullion Market Association (LBMA) said on Friday that there is more than enough gold refining capacity worldwide to meet demand, and that refineries, shippers and banks are working to move metal.   The closure of several large refineries and most of the world’s air traffic due to the Corona virus outbreak have disrupted the gold supply chain, as has the demand for metal. Gold is often seen as a safe investment in turbulent times. Fears that gold would not be flown from London to New York to meet Tuesday’s… Read More Here
Global copper production to grow 3% annually until 2029 8 Copper Global markets International 

Global copper production to grow 3% annually until 2029

Copperbelt Katanga News
Global copper mine production will continue to grow over the next few years as a number of new projects and extensions go online, supported by rising copper prices and demand, Fitch Solutions predicts in a new report. Fitch analysts forecast an average annual increase in global copper mine output of 3.1% per year for 2020-2029, with total production increasing from 20.3 to 26.8 million tons over the same period. For 2020, Fitch predicts that Chile will increase production slightly by 0.5% to 5.89 million tons. Growth will be led by… Read More Here
Copper Price Meltdown Sinks Mining Stocks 11 Copper Global markets International 

Copper Price Meltdown Sinks Mining Stocks

Copperbelt Katanga News
  The decline in copper prices accelerated on Wednesday when global markets were plagued by pandemic fears and mining companies announced a series of production freezes and suspensions for project construction. Copper trading in New York fell 8.8% to $ 2,111 a pound ($ 4,650 a ton), the weakest since early October 2016. The price of copper has risen since its 2020 high, which was reached in late 2020 dropped more than 25% in January. Across South America, where most of the world’s copper is produced, countries like Argentina, Peru… Read More Here
Philippines to overtake Indonesia as global largest nickel producer 12 Nickel Global markets International 

Philippines to overtake Indonesia as global largest nickel producer

arnbethnic
Global nickel production will drop significantly over 2020, as major producer Indonesia’s nickel ore export ban comes into effect, Fitch analysts assert in a recent report. This drop will be slightly offset by the impact of rising production growth in the Philippines where some currently suspended mines will become operational again, while the country aims to plug the likely supply gap caused by the Indonesian export ban, Fitch says. Analysts maintain other major producers such as Russia, Australia and Canada will maintain stable production growth year-on-year.  Global nickel ore production will fall by 15.4%… Read More Here
Gold Global markets Gold 

With gold surging, miners face payouts versus production dilemma

Copperbelt Katanga News
  As gold prices rise, miners have been boosting shareholder payouts in the face of a decline in global output. That’s worrying some investors concerned about the long-term growth prospects of an industry built on a depleting resource. The value of gold, a haven commodity, is driven more by global economics than supply and demand. Any unexpected event — from a surprising cure for coronavirus to a positive trade deal — could drop the value significantly. High prices put more gold scrap on the market, low ones increase hoarding and,… Read More Here

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