International - Copperbelt Katanga Mining

Analysts See Short-term Strength, Long-term Generational Shift' in Copper Prices 1

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

February 15, 2023February 15, 2023 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

Copper Contracts & tenders International

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

February 15, 2023February 15, 2023 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

Diamond International

Botswana and De Beers clash over Diamond profits and demand for larger share

February 13, 2023February 13, 2023 Constance

President Masisi of Botswana warned to end the relationship with South African diamond company, De Beers, if the ongoing sales agreement negotiations do not favor the country. The 2011 sales agreement governing the terms of marketing diamonds produced by Debswana – a 50-50 joint venture between the government and De Beers – expired in 2021. It has been extended by the parties, who cited the coronavirus outbreak as the reason for the delay in concluding negotiations, and will end on June 30, 2023. Speaking at a rally of his ruling… Read More Here

Battery Metals International

Ford plans to Build EV Battery plant in Michigan with Chinese partner

February 13, 2023February 13, 2023 Constance

Ford Motor Co. and Contemporary Amperex Technology Co. Ltd. plan to build a battery plant in Michigan, according to people familiar with the matter, capping a months-long search that became mired in geopolitical tensions between the US and China. The multibillion-dollar facility, to be located about 100 miles west of Detroit, is expected to create about 2,500 jobs, said the people, who asked not to be identified because the plans aren’t yet public. The agreement could be announced as soon as next week, they said. Ford is moving ahead with… Read More Here

International Copper

Panama says negotiations with First Quantum making headway

February 12, 2023February 12, 2023 Constance

Panama’s government said negotiations with First Quantum Minerals about agreeing on a contract governing the company’s Cobre Panama copper complex have shown signs of progress this week. The country’s Minister of Commerce and Industry Federico Alfaro’s comments, are the latest development in a long-drawn-out dispute over control of one of the world’s largest new copper mines. “We have advanced,” Alfaro said after an event to inaugurate the new board of the Panamanian exporters association (APEX) in Panama City. It is also a slight, but certain change of tone in the… Read More Here

Energy Events & Expos International

African Mining can make the most of Energy Transition

February 10, 2023February 10, 2023 Constance

With the global energy transition gathering pace, it is imperative that African mining keeps up with the rapidly growing demand for commodities – both to responsibly develop the continent’s economies and to avoid the negative impact of market imbalances. Speaking at the Investing in African Mining Indaba in Cape Town this week, SRK Consulting managing director Andrew van Zyl said it was clear that key energy technologies were mineral-intensive, and would demand considerably higher production levels of many commodities. While mining countries could reap the benefits of this demand, there… Read More Here

Battery Metals International

Commodity Trader Trafigura Loses $577M in Nickel Fraud Scandal

February 10, 2023February 10, 2023 Constance

Commodity trader Trafigura Group is facing more than half a billion dollars in losses after discovering metal cargoes it bought didn’t contain the nickel they were supposed to. Trafigura has spent the past two months uncovering what it believes is a systematic fraud against it. It has started legal action against Indian businessman Prateek Gupta and several companies connected to him including TMT Metals and subsidiaries of UD Trading Group, Trafigura said in a statement. The missing nickel is a blow for the company that has grown rapidly in the past decade… Read More Here

Copper International

Glencore reopens Peru Copper mine with extra Security

February 9, 2023February 9, 2023 Constance

Glencore (LON: GLEN) has resumed operations at its vast Antapaccay copper mine in Peru, which remained shut for 11 days on security concerns following violent attacks by locals. The mine closed on January 20 after the third attack on the site in a month. The company reopened the operation on January 31 with “increased security” after some of the protests waned, a spokesman for the miner and commodities giant said. Antapaccay is one of Peru’s largest mines, producing nearly 136,000 tonnes of copper between January and November 2022. Peru, the world’s No.… Read More Here

Energy Events & Expos International

Mantashe and Ramaphosa give miners Energy assurance

February 9, 2023February 9, 2023 Constance

The annual Investing in African Mining Indaba is usually prominent for creating dialogue on licensing policies and investment opportunities across the continent. However, this year’s agenda has been centered around South Africa’s energy crisis. Kickstarting the conference, minister in the Department of Mineral Resources and Energy, Gwede Mantashe, has endorsed the procurement of emergency or short-term power from existing facilities and other private power plants. Additionally, South Africa will be able to purchase additional electricity from neighbouring countries which can be unblocked in the short to medium term. Locally, Mantashe… Read More Here