International - Copperbelt Katanga Mining

In 2023, The Price Of Gold Will Partly Depend On The Evolution Of Inflation (report) 1

One of the conclusions of the World Gold Council through its report published on December 2022 on the outlook for the market in the coming months informs that in 2023, one of the signs to be watched by the Global gold market players will be inflation again. According to the report, the decline in inflation should weaken the US dollar and benefit the yellow metal. Experts say that the successive hikes in the US Federal Reserve’s key rates have indeed helped to strengthen the US dollar and made bond yields more… Read More Here

International Lithium

3 Trucks Smuggling Lithium Detained At Beitbridge Boarder-Zimbabwe

January 3, 2023January 3, 2023 Constance

Beitbridge Boarder post Yesterday intercepted a consignment of lithium ore on three haulage trucks belonging to one Bernard Tafadzwa Mnangagwa. The ore was being smuggled to South Africa and was declared as manganese, it is alleged. The government recently banned the exports of raw lithium with immediate effect in an effort to value-add minerals and support local production and employment creation. The ban was effected through STATUTORY INSTRUMENT (S1) 213 OF 2022 titled Base Mineral Export Control (Unbeneficiated Lithium Bearing Ores) Order 2022. Officer commanding Beitbridge police district, Chief Superintendent… Read More Here

International Copper

London Metal Exchange Ends Chaotic Year With Metal Stockpiles Perilously Low

January 3, 2023January 4, 2023 Constance

The London Metal Exchange will enter 2023 with the smallest available warehouse stockpiles in at least 25 years, setting the stage for future squeezes and spikes if demand turns out stronger than expected. Available inventories of the six main metals traded on the LME plunged by two thirds in 2022, with aluminum’s 72% decline accounting for the bulk of the drop, while zinc shrank by 90%. Collectively, inventories not already marked for withdrawal hit the lowest level in data going back to 1997 and finished the year only fractionally higher.… Read More Here

International Copper

Chile Copper Production Down 5.5% In November

January 2, 2023January 2, 2023 Constance

Copper output in Chile, the world’s largest producer of the metal, fell 5.5% year-on-year to 459,229 tonnes in November, the country’s statistics agency INE said. The agency said the drop was partly due to lower ore grade and operational problems affecting major companies in the sector. Some copper deposits have also been affected by less water availability, fatal accidents and maintenance issues. Chile is the world’s top copper producer and is home to global giants like Codelco, BHP, Glencore, Anglo American, Freeport and Antofagasta. Manufacturing production in the Andean nation… Read More Here

Copper International

Panama Rejects First Quantum’s Legal Bid To Avoid Halting Operations

January 2, 2023January 2, 2023 Constance

The Panamanian government has rejected Canada-based miner First Quantum’s legal proceedings to avoid halting operations at the Cobre Panama mine, the Commerce and Industry Ministry said in a statement on Friday. First Quantum was notified on Dec. 21 of a government order for it to create a plan to halt operations within 10 working days, after it missed a deadline for an agreement on increasing its payments to the Panamanian government. First Quantum had notified the country about two arbitration proceedings days after the order to halt operations. A company… Read More Here

News in Brief International

Savannah Resources Extends Due Diligence For Mozambique Divestment

December 31, 2022December 31, 2022 Constance

Savannah Resources PLC has announced the extension of the due diligence period under its agreement to potentially divest its remaining interests in Mozambique. The company, in a brief stock market statement, said that the due diligence phase would now run until 27 January 2023. It previously announced the ‘Binding Heads of Agreement’ between its subsidiary AME EAST AFRICA LIMITED and MRG Metals Limited on 9 November 2022. The deal sees MRG acquire Mining Concession 9735C in Mozambique. Savannah noted that all other aspects of the proposed transaction remain unchanged and… Read More Here

Battery Metals International

Ford Used A Quantum Computer To Find Better EV Battery Materials

December 31, 2022December 31, 2022 Constance

Quantum researchers at Ford have just published a new preprint study that modeled crucial electric vehicle (EV) battery materials using a quantum computer. While the results don’t reveal anything new about lithium-ion batteries, they demonstrate how more powerful quantum computers could be used to accurately simulate complex chemical reactions in the future. In order to discover and test new materials with computers, researchers have to break up the process into many separate calculations: One set for all the relevant properties of each single molecule, another for how these properties are affected by the… Read More Here

International

First Quantum Says Negotiations Restarted On Future Of Panama Mine

December 31, 2022December 31, 2022 Constance

First Quantum Minerals Ltd. says it is back in discussions with the government of Panama over a benefits sharing agreement as it looks to avoid a shutdown of its Cobre Panamá mine. Toronto-based First Quantum said on Dec. 16 that the government had cut off talks and ordered the mine closed, but says discussions on increasing payouts from the mine restarted on Monday. The company says that for now the mine is operating as normal, but that it received formal notification on Dec. 21 that it needs to submit a… Read More Here

International Copper

Copper Price Retreats As China Reports Rising Covid Cases

December 30, 2022December 30, 2022 Constance

Copper prices slid on Thursday 29.12.30 as rising covid-19 infections in China and fears of a global recession weighed on prices. Copper for delivery in March fell 0.6% on the Comex market in New York, touching $3.82 per pound or $8,404 per tonne. The most-traded copper contract on the Shanghai Futures Exchange gave up 0.4% to 66,250 yuan ($9,496.03) a tonne. Spikes in covid-19 cases and the Lunar New Year holiday next month are expected to dampen metals demand in China. The country will stop requiring inbound… Read More Here

Gold International

Kwekwe Miner CHanakira Faces Gold Ore Theft Charges-Zimbabwe

December 29, 2022December 31, 2022 Constance

Kwekwe gold dealer has been reported to police on charges of having stolen gold ore and other Mining accessories from a mine at the Centre of a boundary dispute.According to a police report case number 5393592, Chanakira Masuku is accused of stealing about 1.5kg of gold, tonnes of gold ore worth over US$30 000, two drums of cyanide and caustic soda from Somerset 16 mine in Sosombe, Kwekwe.Masuku is also accused of vandalising a perimeter fence of Somerset 16 mine owned by Mistopher Khan under registration number 24107.The mine was… Read More Here