International - Copperbelt Katanga Mining

Komatsu To Expand Underground Mining Equipment Offering With GHH Acquisition 1

Komatsu has entered into an agreement to acquire Gelsenkirchen, Germany-based GHH Group GmbH (GHH), in a deal that will see it significantly expand its underground mining equipment market share. Founded in the 1960s and currently part of the German-owned Schmidt Kranz Group, GHH offers a wide range of equipment focused on loaders (LHDs) and articulated dump trucks in the mid-seam mass mining, narrow-vein and low-profile market segments The company also supports customers with aftermarket parts and service support through the entire life of each machine. With this acquisition, Komatsu will… Read More Here

Mining Companies Copper International

Taseko & Mitsui Partner To Develop Florence Copper Project

December 22, 2022December 22, 2022 Constance

Taseko Mines (TSX: TKO) has partnered with Mitsui to develop the Florence copper project located in Arizona. Mitsui has committed an initial investment of $50 million for the construction of the commercial production facility. This initial investment will be in the form of a stream agreement on 2.67% of the copper produced at Florence. As part of the arrangement, Taseko and Mitsui have entered into an offtake contract for 81% of the copper cathode produced at Florence during the initial years of production. The parties intend to use this period to… Read More Here

Copper International Oil & Gas

New Model Allows For balancing Rare Plant Protection, Mine Development

December 20, 2022December 20, 2022 Constance

Researchers at Utah State University are mapping out strategies that allow balancing the emerging demand for mining and energy development projects on the Colorado Plateau and the survival of the area’s rare plant populations. In a paper published in the journal Land, the scientists explain that the vast stretches of desert in southeastern Utah and southwestern Colorado are home to rare plants like milkvetch, beardtongue penstemon and sclerocactus, which manage to survive under the harshest of environmental conditions and, thus, are something of an ecologically niched miracle. To ensure that at least 30%… Read More Here

Mining Companies International

NEWCREST CEO LEAVES AUSTRALIA’S TOP GOLD MINER

December 20, 2022December 20, 2022 Constance

Newcrest Mining (ASX: NMC) announced on Monday that its chief executive officer Sandeep Biswas is retiring from the role effective immediately, after eight years at the helm of Australia’s top gold miner, but will stay on as an advisor until March 2023. Chief financial officer Sherry Duhe, who joined the company in February, will step in as interim chief executive while a global internal and external search for a replacement is underway. Chief operating officer for the Americas, Craig Jones, will also assume responsibility for all of Newcrest operations on an interim basis, Newcrest said.… Read More Here

International Mining Companies

Panama orders First Quantum to halt copper mine operations

December 20, 2022December 20, 2022 Constance

First Quantum Minerals must make a plan to halt work at its copper mine in Panama then go ahead with the scheme within two days of approval, the Central American country said after it and the Canadian company had failed to agree on boosting taxes from the project. The company has 10 days to present the plan for the Cobre Panama mine, which the government has said accounts for 3.5% of gross domestic product, according to a resolution of the Commerce and Industry Ministry published in Panama’s official gazette. However,… Read More Here

International Copper Mining in DRC

COPPER MINING FINALLY EXPANDS BUT SMELTERS CAN’T KEEP UP

December 20, 2022December 20, 2022 Constance

Copper miners are finally ramping up production after several years of anemic performance. But that may not be enough to significantly raise inventories from historic lows, keeping supplies tight in a market critical to the energy transition. The reason is a bottleneck in the capacity of the world’s smelters, whose role in turning ore into metal makes them a crucial cog in the supply chain between miners and manufacturers of products ranging from mobile phones and from air conditioning units to electric vehicles. “There is not enough smelting capacity,” said Shanghai… Read More Here

Energy International Oil & Gas

Germany pushes back on Putin’s ‘blackmail’ with gas terminal

December 19, 2022December 19, 2022 Constance

Germany opened its first state-chartered liquefied natural gas vessel as Europe’s largest economy races to replace Russian gas amid an energy crunch and freezing temperatures. “As of today, Germany and the EU will become a great deal more secure and independent,” Chancellor Olaf Scholz said in a short speech Saturday in Wilhelmshaven on the North Sea coast to mark the inauguration. Scholz said Russian President Vladimir Putin, in pursuing the invasion of Ukraine, calculated that he could pressure Germany and the rest of Europe by making energy a political weapon… Read More Here

Iron Ore International

China’s new iron ore buyer sets off biggest shakeup in years

December 19, 2022December 19, 2022 Constance

China is about to upend the $160 billion iron ore trade with the biggest change in years as Beijing expands efforts to increase control over the natural resources needed to feed its economy. A new state-owned company called China Mineral Resources Group is poised to become the world’s biggest iron ore buyer as soon as next year, when it will begin consolidating purchases on behalf of about 20 of the largest Chinese steelmakers including leader China Baowu Steel Group Corp., according to people familiar with the situation. CMRG has already… Read More Here

Lithium International

Lithium stocks fall as prices ease for the first time in 6 months

December 19, 2022December 19, 2022 Constance

Shares of lithium producers and explorers slumped on Thursday after a closely watched auction by Pilbara Minerals showed a rare decline in prices of spodumene concentrate. Pilbara Minerals (ASX:PLS) announced its average monthly auction in December achieved a price of $7,552 per dry metric tonne (5.5% spodumene concentrate on a Port Hedland FOB basis), down from $7,805 a month earlier. The price for the 10,000 tonne cargo equates to $8,299 per tonne on a 6% concentrate (CIF, China) basis with deliveries expected from late January 2023. Pilbara Minerals, which wholly-owns the Pilgangoora mine… Read More Here

Mining revenue International

AUSTRIA RIVISES RESOURCES EXPORT EARNINGS TO $308bn FOR FY23

December 19, 2022December 19, 2022 Constance

Australia revised upwards its resources and energy export earnings for the current financial year to hit a record A$459 billion ($308 billion) on Monday, as the war in Ukraine boosts prices of energy commodities. The country is set to see strong growth in revenue from exports of thermal coal used in power plants as well as liquefied natural gas (LNG) for the year ending June 2023, the Department of Industry, Science and Resources said in a quarterly report. “Many Western nations are having to pay substantially more for energy, on… Read More Here