International - Copperbelt Katanga Mining

TotalEnergies may resume gas project in Mozambique

May 3, 2023May 3, 2023 Constance

The conditions have been met to allow TotalEnergies to resume its natural gas exploration project in the country, suspended since 2021, following a major jihadist attack, Mozambican President Filipe Nyusi assured last week. At the end of March 2021, a coordinated attack on the coastal city of Palma forced the French group to suspend a €16.5 billion natural gas development project. Facilities still under construction on the Afungi peninsula were evacuated. “Cooperation and coordination with Total is very good. The working environment is conducive for the company to resume operations at… Read More Here

International

Glencore prioritises ethics and compliance

May 3, 2023May 3, 2023 Constance

Major miner Glencore has published its 2022 annual ethics and compliance report, which detailed how the company complied with its ethics and compliance program. Glencore’s ethics and compliance program encompasses risk assessments, details company policies and procedures, provides training and awareness to its employees, offers opportunities to speak openly about any issues and to carry out investigations when necessary. The key topics covered in the ethics and compliance program include anti-corruption and bribery, conflicts of interest, fraud sanctions and trade controls, anti-money laundering and anti-tax evasion, competition law, market conduct, and information governance… Read More Here

International Technology & Innovation

TESLA’S CO-Founder makes Game-Changing Announcement ABOUT THE FUTURE OF EV BATTERIES

April 30, 2023April 30, 2023 Constance

Great news for anyone hoping to buy an electric car in the future and for anyone who cares about our planet: A company that recycles lithium-ion batteries just announced that after a yearlong pilot program, it was able to recover important metals from used batteries at an incredible rate of more than 95%. The company, Redwood Materials, was founded by JB Straubel, one of the five Tesla co-founders and the company’s former CTO. Tesla has been slowly moving the world away from transport powered by dirty energy sources and toward electric vehicles. EVs are much less destructive to our planet than… Read More Here

Copper International

Friedland’s Copper and Africa Mining Predictions Coming True

April 30, 2023April 30, 2023 Constance

DEVELOPMENTS in Chile where the socialist government is looking at nationalizing a sector of its mining industry are bearing out the predictions made over the past few years at the Mining Indaba by billionaire mining entrepreneur Robert Friedland. The fall out is likely to be beneficial for African mining countries – in particular the Democratic Republic of Congo (DRC) and Zambia – as investors reduce their exposure to Chile and mining companies start to look elsewhere for new lithium and copper projects. Last week Chilean president Gabriel Boric announced plans to… Read More Here

Battery Metals International Technology & Innovation

Breakthrough in Lithium-Ion Battery Recycling Could Revolutionize Power Grid

April 30, 2023April 30, 2023 Constance

Despite recent technological breakthroughs, lithium-ion battery recycling continues to vex scientists in several ways. Battery recycling remains an expensive process that often requires melting down entire batteries in order to recycle small amounts of precious metals. However, great minds are increasingly finding ways to repurpose and recycle batteries that are past their prime, as scientists at Oak Ridge National Laboratory recently did when they discovered that batteries of differing ages, sizes, and origins could be combined to form a unique kind of energy storage system. In a paper written for the Institute of Electrical and Electronics Engineers’ (IEEE) Electrical Energy Storage… Read More Here

Copper International

FQMs’ Q1 earnings drop by over 80% due to operational challenges

April 28, 2023April 28, 2023 Constance

First Quantum Minerals, a Canadian mining company, reported a significant drop in earnings in Q1 2023, with profits falling by over 80% to $75 million compared to $385 million in the same period last year. The decline in earnings was attributed to a series of operational challenges affecting the company’s top three operations. Copper production in Q1 reached almost 139,000 tonnes, down 33% from the previous quarter, mainly due to a severe rainy season in Zambia and a standoff with the government of Panama, where the company runs the vast… Read More Here

International Corporate News

Zimbabwe to Launch Gold-Backed Digital Currency

April 28, 2023April 28, 2023 Constance

Zimbabwe’s central bank has announced plans to introduce a gold-backed digital currency to the public from May 8th. The move is aimed at stabilizing the country’s currency, which has fallen 35% against the US dollar this year, and providing an alternative to the US dollar for transactions. The digital tokens will be sold through banks in local and foreign currency at a 20% margin above the interbank mid-rate, and will be introduced in two phases. Initially, they will be used for investment purposes before being rolled out for transactions. According… Read More Here

International Mining Equipment

Volvo launches R60 Rigid Hauler

April 26, 2023April 26, 2023 Constance

Swedish vehicle manufacturer Volvo Construction Equipment has released the R60 Rigid Hauler. The R60 is based on the R100E model, and is designed to handle higher payloads and greater uptime. The machine also comes with a durable design, said Drew Watson, global product manager for the Volvo R60 at Volvo CE. “The Volvo R60 offers a 55-tonne payload and body volume of 36m3, enabled by a V-shaped body ensuring optimum load retention and minimal material carry-back. “The rigid hauler is a perfect match for a 90-tonne excavator and meets the industry standard of… Read More Here

International Gold

The price of Gold continues to fall below the bar of 2000 USD per ounce

April 26, 2023April 26, 2023 Constance

Gold continued to slide on Tuesday 25th April as a stronger dollar countered support from lower Treasury yields, as investors await a slew of U.S. economic data due later this week that could sway the stance. Federal Reserve on interest rates. Spot gold fell 0.2% to $1,985.90 an ounce on Tuesday, after falling below the key $2,000 level late last week. US gold futures fell 0.1% to $1,997.40 an ounce. Meanwhile, the dollar rose 0.4% to make bullion relatively more expensive for buyers holding other currencies, while benchmark 10-year Treasury yields… Read More Here

Copper International

The price of copper reaches USD 9,001.0 per tonne on the international market (BCC)

April 23, 2023April 23, 2023 arnbethnic

The price of a tonne of copper rose by 0.69% on April 13, standing at 9,001.0 USD on the London Metal Exchange (LME) against 8,939.00 USD a week earlier. This is what the note on the economic situation of the Central Bank of Congo (BCC) provides. According to indications from the Central Bank of Congo, this rise in the price of copper is driven by the expansion of activities in China, particularly in the construction and automotive sectors. According to metal market experts, copper is expected to trade lower this… Read More Here