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Category: International

Sigma Lithium Begins Brazil Mine Plant Commissioning 1 Battery Metals International 

Sigma Lithium Begins Brazil Mine Plant Commissioning

Constance
Sigma Lithium has started commissioning the first module of the production plant – the Greentech Plant – at its 100%-owned Grota do Cirilo lithium project in Minas Gerais, Brazil. The Canadian miner said the dry module crushing circuit began operating on time and within budget, adding it expected the full plant to be up and running by February 2023. Commissioning on the wet module dense media separation circuit is expected to also start in February and be completed by April, at which point the company intends to start commercial production, it said. The Vancouver-based miner also… Read More Here
Recession Risk, Stagflation Set Stage For Positive Gold Performance in 2023 2 International Gold 

Recession Risk, Stagflation Set Stage For Positive Gold Performance in 2023

Constance
It has been a year to forget for gold. The precious metal is closing in on a second consecutive yearly decline, with prices down by $250 an ounce since its March highs as central bankers stepped up their aggressive fight against inflation Going forward, the interplay between inflation and central bank intervention will be key in determining the outlook for gold’s performance in 2023, according to the World Gold Council (WGC). Economic consensus calls for weaker global growth akin to a short, possibly localized recession, falling – yet elevated –… Read More Here
First Quantum Starts Arbitration Against Panama-Govt 3 International Copper 

First Quantum Starts Arbitration Against Panama-Govt

Constance
First Quantum Minerals and its subsidiary Minera Panama started arbitration processes against Panama, the country’s ministry of commerce and industry said on Saturday, as the two sides have been locked in a disagreement over payments and mine operations. Panama’s government on Monday ordered First Quantum to pause operations at its flagship Cobre Panama copper mine after the company missed a deadline to finalize a deal that would have increased payments to the government by at least $375 million. Despite having agreed to meet with the government, the company decided on Friday to… Read More Here
First Quantum CEO Holds Talks With Panama Minister 4 International Copper Mining Companies 

First Quantum CEO Holds Talks With Panama Minister

Constance
The Chief Executive Officer of Canadian miner First Quantum Minerals met Panama’s commerce and industry minister on Monday to discuss disagreements over the firm’s copper operations in the country, a person familiar with the matter said. First Quantum CEO Tristan Pascall flew to Panama over Christmas to attend the meeting in person with the minister, Federico Alfaro, according to the source, who said further talks are planned. The commerce and industry ministry did not immediately reply to a request for comment. A spokesperson for First Quantum declined to comment. The… Read More Here
Rescue Work Continues After Gold Mine Collapse In China 5 International Gold 

Rescue Work Continues After Gold Mine Collapse In China

Constance
Rescue work continues after 18 people were trapped underground as a gold mine in northwest China’s Xinjiang Uygur Autonomous Region collapsed on Saturday. Approximately 40 people were working underground at the time of the accident in Yining County in the Ili Kazak Autonomous Prefecture. Twenty-two miners have been rescued. “Now, the accurate location of the trapped people has been determined. However, the complex situation underground and the unstable surrounding rocks have brought many difficulties to the rescue work. The 18 people remain out of contact,” Lu Wei, chief safety officer… Read More Here
Gold Price Edges Higher As US Inflation Data Shows Signs Of Cooling 6 Gold International 

Gold Price Edges Higher As US Inflation Data Shows Signs Of Cooling

Constance
Gold prices edged up on Friday ahead of a long holiday weekend as the latest US inflation data showed signs of cooling, but not enough to erase concerns of more Federal Reserve rate hikes. Spot gold rose 0.6% to $1,802.33 per ounce by 11:50 a.m. ET, representing a weekly gain of roughly the same percentage point. The precious metal is coming off its worst week in a month after more hawkish messaging from the Fed. US gold futures were up 0.8% to $1,810.30 per ounce. [Click here for an interactive chart of gold… Read More Here
Copper Price Rises On Weaker Dollar, Demand Hopes 7 Copper International 

Copper Price Rises On Weaker Dollar, Demand Hopes

Constance
Copper price rose on Monday supported by a weak US dollar and hopes of better demand after China’s pledge to boost its economy and real estate sector. Copper for delivery in March rose 0.3% on the Comex market in New York, touching $3.81 per pound or $8,382 per tonne. The most-traded January copper contract on the Shanghai Futures Exchange added 0.8% to 66,010 yuan a tonne as of 0614 GMT. The dollar slid against most currencies on Friday as data signaled that the… Read More Here
Cat Rope Shovels Achieve Highest Availability In The World 8 International Mining Companies 

Cat Rope Shovels Achieve Highest Availability In The World

Constance
Southern Peru Copper Corporation (SPCC) has a reputation for setting — and achieving — ambitious goals. Its parent company, Grupo Mexico, boasts the highest copper reserves in the industry. Led by an experienced management team, the company delivers consistent strong operational and financial performance thanks to a focus on continuous improvement and contributing to Peru’s development. SPCC takes that commitment from the executive office to the mine site, focusing on achieving low-cost operations at its two mines, located southeast of Lima. Consider the company’s Cuajone mine, for example. Located at… Read More Here
Independent Oil Companies In Africa Increasingly Becoming A Larger Presence in The Continent's Oil & Gas Industry 9 International Oil & Gas 

Independent Oil Companies In Africa Increasingly Becoming A Larger Presence in The Continent’s Oil & Gas Industry

Constance
It took less than 20 years for Somoil to become one of Angola’s largest private oil companies, but the company is hardly resting on its laurels. Somoil, like many independents operating in Africa today, is moving forward with ambitious plans for continued growth. Based on its current trajectory, Somoil’s chances of achieving its goals look good. The company operates three blocks with the capacity to produce as much as 50,000 barrels per day (bpd) of crude oil. In April, Somoil and London-headquartered Sirius Petroleum entered a $336 million deal with… Read More Here
Diamond auction sales increased by 20% in 2022 10 International Diamond 

Diamond auction sales increased by 20% in 2022

arnbethnic
According to the preliminary results of the last of the ten rough diamond auction sessions it organizes each year, the mining company De Beers says that for the tenth stage, the subsidiary of the British mining holding company Anglo American sold for 410 million USD of gemstones against 336 million USD at the same period in 2021. “Demand for our rough diamonds during the last sales cycle of 2022 was in line with expectations, ahead of the normal seasonal closure of polishing factories in southern Africa over the Christmas period,”… Read More Here

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